Document:

Exhibit 10.1

 

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal
    Amount: US $300,000	Issue
    Date: March 12, 2021
	Original
    Conversion Price (subject to adjustment herein): $1.00

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, GENERX, INC., a Delaware corporation (hereinafter called the “Borrower”), hereby promises
to pay to the order of MJ Holdings INC, a Nevada corporation, or its registered assigns (the “Holder”), the sum of
Three Hundred Thousand Dollars (US $300,000), together with any interest as set forth herein, on March 12, 2022 (the “Maturity
Date”), and to pay a one-time interest charge on the initial principal balance hereof in the amount of two percent (2%)
(the “Interest Rate”), which such amount shall be immediately assessed as of the funding date hereof (the “Issue
Date”) and become due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may
be prepaid in whole or in part as explicitly set forth herein. Any amount of principal or interest on this Note which is not paid
when due shall bear interest at the rate of twenty-four percent (24%) per annum from the due date thereof until the same is paid
(the “Default Interest”). Interest shall commence accruing on the date that the Note is fully paid and shall be computed
on the basis of a 360-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted
into common stock, $0.0001 par value per share (the “Common Stock”) in accordance with the terms hereof) shall be
made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter
give to the Borrower by written notice made in accordance with the provisions of this Note. Whenever any amount expressed to be
due by the terms of this Note is due on any day which is not a business day, the same shall instead be due on the next succeeding
day which is a business day and, in the case of any interest payment date which is not the date on which this Note is paid in
full, the extension of the due date thereof shall not be taken into account for purposes of determining the amount of interest
due on such date. As used in this Note, the term “business day” shall mean any day other than a Saturday, Sunday or
a day on which commercial banks in the city of New York, New York are authorized or required by law or executive order to remain
closed. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain
Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (as amended and/or restated
from time to time, the “Purchase Agreement”).

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The
undersigned hereby affirms all of the obligations of the Borrower to the Holder under all of the Transaction Documents and agrees
and affirms as follows: (i) that as of the date hereof, the undersigned have performed, satisfied and complied in all material
respects with all the covenants, agreements and conditions under each of the Transaction Documents to be performed, satisfied
or complied with by the undersigned; (ii) that the undersigned shall continue to perform each and every covenant, agreement and
condition set forth in each of the Transaction Documents and this Note, and continue to be bound by each and all of the terms
and provisions thereof and hereof; (iii) that as of the date hereof, no default or Event of Default has occurred or is continuing
under the Purchase Agreement, any Note or any other Transaction Documents, and no event has occurred that, with the passage of
time, the giving of notice, or both, would constitute a default or an Event of Default under the Purchase Agreement, the Notes
or any other Transaction Documents; and (iv) that as of the date hereof, no event, fact, or other set of circumstances has occurred
which could reasonably be expected to have, cause, or result in a Material Adverse Effect.

 

    	 

     

    

 

 

The
undersigned hereby acknowledges, represents, warrants and confirms to Holder that: (i) each of the Transaction Documents executed
by the Company are valid and binding obligations of the Company, enforceable against the Company in accordance with their respective
terms; and (ii) no oral representations, statements, or inducements have been made by Holder, or any agent or representative of
Holder, with respect to this Note, any other Note, the Purchase Agreement, and all other Transaction Documents.

 

The
following terms shall apply to this Note:

 

ARTICLE
I. CONVERSION RIGHTS

 

1.1
Conversion Right. The Holder shall have the right at any time to convert all or any part of the outstanding and unpaid
principal, interest, fees, or any other obligation owed pursuant to this Note into fully paid and non-assessable shares of Common
Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into
which such Common Stock shall hereafter be changed or reclassified at the Conversion Price (as defined below) determined as provided
herein (a “Conversion”); provided, however, that in no event shall the Holder be entitled to convert
any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares of
Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be deemed beneficially
owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted portion of any other security
of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number
of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which the determination of
this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding
shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial ownership shall be determined
in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Regulations
13D-G thereunder, except as otherwise provided in clause (1) of such proviso, provided, further, however,
that the limitations on conversion may be waived by the Holder upon, at the election of the Holder, not less than 61 days’
prior notice to the Borrower, and the provisions of the conversion limitation shall continue to apply until such 61st day (or
such later date, as determined by the Holder, as may be specified in such notice of waiver). The number of shares of Common Stock
to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined below) (the numerator)
by the applicable Conversion Price then in effect on the date specified in the notice of conversion (the denominator), in the
form attached hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the Holder in accordance
with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting
in, or reasonably expected to result in, notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion
date (the “Conversion Date”). The term “Conversion Amount” means, with respect to any conversion of this
Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at the Holder’s
option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to the Conversion
Date, provided however, that the Borrower shall have the right to pay any or all interest in cash plus (3) at the Holder’s
option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2) plus (4)
at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof.

 

    	 

     

    

 

 

 

1.2
Conversion Price.

 

(a)
Calculation of Conversion Price. Subject to the adjustments described herein, the conversion price (the “Conversion
Price”) shall equal $1.00. Upon an Event of Default, the Conversion Price shall equal the Alternate Conversion Price (as
defined herein) (subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating
to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications,
extraordinary distributions and similar events). The “Alternate Conversion Price” shall equal the lesser of (i) 80%
multiplied by the average of the three lowest daily volume weighted average prices (“VWAP”) during the previous twenty
(20) Trading Days (as defined below) before the Issue Date of this Note (representing a discount rate of 20%) or (ii) 80% multiplied
by the Market Price (as defined herein) (representing a discount rate of 20%). “Market Price” means the average of
the three lowest daily VWAPs for the Common Stock during the twenty (20) Trading Day period ending on the latest complete Trading
Day prior to the Conversion Date. To the extent the Conversion Price of the Borrower’s Common Stock closes below the par
value per share, the Borrower will take all steps necessary to solicit the consent of the stockholders to reduce the par value
to the lowest value possible under law. The Borrower agrees to honor all conversions submitted pending this adjustment. Furthermore,
the Conversion Price may be adjusted downward if, within three (3) business days of the transmittal of the Notice of Conversion
to the Borrower, the Common Stock has a closing bid which is 5% or lower than that set forth in the Notice of Conversion. If the
shares of the Borrower’s Common Stock have not been delivered within three (3) business days to the Borrower, the Notice
of Conversion may be rescinded. At any time after the Closing Date, if in the case that the Borrower’s Common Stock is not
deliverable by DWAC (including if the Borrower’s transfer agent has a policy prohibiting or limiting delivery of shares
of the Borrower’s Common Stock specified in a Notice of Conversion), an additional 10% discount will apply for all future
conversions under all Notes. If in the case that the Borrower’s Common Stock is “chilled” for deposit into the
DTC system and only eligible for clearing deposit, an additional 15% discount shall apply for all future conversions under all
Notes while the “chill” is in effect. If in the case of both of the above, an additional cumulative 25% discount shall
apply. Additionally, if the Borrower ceases to be a reporting company pursuant to the 1934 Act or if the Note cannot be converted
into free trading shares after one hundred eighty-one (181) days from the Issue Date, an additional 15% discount will be attributed
to the Conversion Price. If the Market Price cannot be calculated for such security on such date in the manner provided above,
the Market Price shall be the lesser of (i) the lowest trading price of the Common Stock, or (ii) the fair market value as mutually
determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of
the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any
day on which the Common Stock is tradable for any period on the Nasdaq or on the principal securities exchange or other securities
market on which the Common Stock is then being traded. The Borrower shall be responsible for the fees of its transfer agent and
all DTC fees associated with any such issuance. Holder shall be entitled to add to the principal amount of the Note $500.00 for
each conversion to cover Holder’s deposit fees associated with each Notice of Conversion.

 

(b)
Conversion Price During Major Announcements. Notwithstanding anything contained in Section 1.2(a) to the contrary, in the
event the Borrower (i) makes a public announcement that it intends to consolidate or merge with any other corporation (other than
a merger in which the Borrower is the surviving or continuing corporation and its capital stock is unchanged) or sell or transfer
all or substantially all of the assets of the Borrower or (ii) any person, group or entity (including the Borrower) publicly announces
a tender offer to purchase 50% or more of the Borrower’s Common Stock (or any other takeover scheme) (the date of the announcement
referred to in clause (i) or (ii) is hereinafter referred to as the “Announcement Date”), then the Conversion Price
shall, effective upon the Announcement Date and continuing through the Adjusted Conversion Price Termination Date (as defined
below), be equal to the lower of (x) the Conversion Price which would have been applicable for a Conversion occurring on the Announcement
Date and (y) the Conversion Price that would otherwise be in effect. From and after the Adjusted Conversion Price Termination
Date, the Conversion Price shall be determined as set forth in this Section 1.2(a). For purposes hereof, “Adjusted Conversion
Price Termination Date” shall mean, with respect to any proposed transaction or tender offer (or takeover scheme) for which
a public announcement as contemplated by this Section 1.2(b) has been made, the date upon which the Borrower (in the case of clause
(i) above) or the person, group or entity (in the case of clause (ii) above) consummates or publicly announces the termination
or abandonment of the proposed transaction or tender offer (or takeover scheme) which caused this Section 1.2(b) to become operative

 

(c)
Pro Rata Conversion; Disputes. In the event of a dispute as to the number of shares of Common Stock issuable to the Holder
in connection with a conversion of this Note, the Borrower shall issue to the Holder the number of shares of Common Stock not
in dispute and resolve such dispute in accordance with Section 4.13.

 

    	 

     

    

 

 

 

1.3
Authorized Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve
from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance
of Common Stock upon the full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all
times to have authorized and reserved at least two and one half (2.5) times the number of shares that is actually issuable upon
full conversion of the Note (based on the Conversion Price of the Notes in effect from time to time) (the “Reserved Amount”).
The Reserved Amount shall be increased from time to time in accordance with the Borrower’s obligations pursuant to Section
3(d) of the Purchase Agreement. The Borrower represents that upon issuance, such shares will be duly and validly issued, fully
paid and non-assessable. In addition, if the Borrower shall issue any securities or make any change to its capital structure which
would change the number of shares of Common Stock into which the Notes shall be convertible at the then current Conversion Price,
the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient number of shares of Common
Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Notes. The Borrower (i) acknowledges
that it has irrevocably instructed its transfer agent to issue certificates for the Common Stock issuable upon conversion of this
Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and agents who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance
with the terms and conditions of this Note. Notwithstanding the foregoing, in no event shall the Reserved Amount be lower than
the initial Reserved Amount, regardless of any prior conversions. The Holder undertakes as a condition to this Note, that upon
the either the payment of this Note plus all accrued interest and/or the conversion of this Note in full, the Holder, within three
(3) business days, shall give written notice to TOL to release all shares subject to the Reserved Amount.

 

1.4
Method of Conversion.

 

(a)
Mechanics of Conversion. Subject to Section 1.1, this Note may be converted by the Holder in whole or in part at any time
from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other
reasonable means of communication dispatched on the Conversion Date prior to 5:00 p.m., New York, New York time) and (B) subject
to Section 1.4(b), surrendering this Note at the principal office of the Borrower.

 

(b)
Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note
in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless
the entire unpaid principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the
principal amount so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the
Holder and the Borrower, so as not to require physical surrender of this Note upon each such conversion. In the event of any dispute
or discrepancy, such records of the Holder shall, prima facie, be controlling and determinative in the absence of manifest
error. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that, by reason of the provisions of this
paragraph, following conversion of a portion of this Note, the unpaid and unconverted principal amount of this Note represented
by this Note may be less than the amount stated on the face hereof.

 

(c)
Payment of Taxes. The Borrower shall not be required to pay any tax which may be payable in respect of any transfer involved
in the issue and delivery of shares of Common Stock or other securities or property on conversion of this Note in a name other
than that of the Holder (or in street name), and the Borrower shall not be required to issue or deliver any such shares or other
securities or property unless and until the person or persons (other than the Holder or the custodian in whose street name such
shares are to be held for the Holder’s account) requesting the issuance thereof shall have paid to the Borrower the amount
of any such tax or shall have established to the satisfaction of the Borrower that such tax has been paid.

 

(d)
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail
(or other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in
this Section 1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder
certificates (or electronic shares via DWAC transfer, at the option of Holder) for the Common Stock issuable upon such conversion
within three (3) business days after such receipt (the “Deadline”) (and, solely in the case of conversion of the entire
unpaid principal amount hereof, surrender of this Note) in accordance with the terms hereof and the Purchase Agreement.

 

    	 

     

    

 

 

 

(e)
Obligation of Borrower to Deliver Common Stock. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall
be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the
amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults
on its obligations under this Article I, all rights with respect to the portion of this Note being so converted shall forthwith
terminate except the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such
conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue
and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective of the absence of any action by
the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against
any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower
to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by
the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation
of the Borrower to the Holder in connection with such conversion. The Conversion Date specified in the Notice of Conversion shall
be the Conversion Date so long as the Notice of Conversion is received by the Borrower before 5:00 p.m., New York, New York time,
on such date.

 

(f)
Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock
issuable upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated
Securities Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions contained
in Section 1.1 and in this Section 1.4, the Borrower shall use its best efforts to cause its transfer agent to electronically
transmit the Common Stock issuable upon conversion to the Holder by crediting the account of Holder’s Prime Broker with
DTC through its Deposit Withdrawal At Custodian (“DWAC”) system.

 

(g)
DTC Eligibility & Conversion Price Threshold. If the Borrower fails to maintain its status as “DTC Eligible”
for any reason, at any time while this Note is outstanding, the principal amount of the Note shall increase by Five Thousand and
No/100 United States Dollars ($5,000) (under Holder’s and Borrower’s expectation that any principal amount increase
will tack back to the Issue Date). In addition, the Alternate Conversion Price shall be redefined to mean sixty percent (60%)
multiplied by the Market Price, subject to adjustment as provided in this Note.

 

(h)
Failure to Deliver Common Stock Prior to Delivery Deadline. Without in any way limiting the Holder’s right to pursue
other remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable
upon conversion of this Note is not delivered by the Deadline (other than a failure due to the circumstances described in Section
1.3 above, which failure shall be governed by such Section) the Borrower shall pay to the Holder $500 per day in cash, for each
day beyond the Deadline that the Borrower fails to deliver such Common Stock until the Borrower issues and delivers a certificate
to the Holder or credit the Holder’s balance account with Nasdaq for the number of shares of Common Stock to which the Holder
is entitled upon such Holder’s conversion of any Conversion Amount (under Holder’s and Borrower’s expectation
that any damages will tack back to the Issue Date). Such cash amount shall be paid to Holder by the fifth day of the month following
the month in which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first day of the month
following the month in which it has accrued), shall be added to the principal amount of this Note, in which event interest shall
accrue thereon in accordance with the terms of this Note and such additional principal amount shall be convertible into Common
Stock in accordance with the terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder.
The damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible
to qualify. Accordingly, the parties acknowledge that the liquidated damages provision contained in this Section 1.4(h) are justified.

 

(i)
Rescindment of a Notice of Conversion. If (i) the Borrower fails to respond to Holder within one (1) business day from
the Conversion Date confirming the details of Notice of Conversion, (ii) the Borrower fails to provide any of the shares of the
Borrower’s Common Stock requested in the Notice of Conversion within three (3) business days from the date of receipt of
the Note of Conversion, (iii) the Holder is unable to procure a legal opinion required to have the shares of the Borrower’s
Common Stock issued unrestricted and/or deposited to sell for any reason related to the Borrower’s standing, (iv) the Holder
is unable to deposit the shares of the Borrower’s Common Stock requested in the Notice of Conversion for any reason related
to the Borrower’s standing, (v) at any time after a missed Deadline, at the Holder’s sole discretion, or (vi) if Nasdaq
changes the Borrower’s designation to ‘Limited Information’ (Yield), ‘No Information’ (Stop Sign),
‘Caveat Emptor’ (Skull & Crossbones), or ‘Grey Market’ (Exclamation Mark Sign) or other trading restriction
on the day of or any day after the Conversion Date, the Holder maintains the option and sole discretion to rescind the Notice
of Conversion (“Rescindment”) with a “Notice of Rescindment.”

 

    	 

     

    

 

 

 

1.5
Concerning the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred
unless (i) such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer
agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for
opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred
pursuant to an exemption from such registration or (iii) such shares are sold or transferred pursuant to Rule 144 under the Act
(or a successor rule) (“Rule 144”) or (iv) such shares are transferred to an “affiliate” (as defined in
Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance with this Section 1.5 and who
is an Accredited Investor (as defined in the Purchase Agreement). Except as otherwise provided in the Purchase Agreement (and
subject to the removal provisions set forth below), until such time as the shares of Common Stock issuable upon conversion of
this Note have been registered under the Act or otherwise may be sold pursuant to Rule 144 without any restriction as to the number
of securities as of a particular date that can then be immediately sold, each certificate for shares of Common Stock issuable
upon conversion of this Note that has not been so included in an effective registration statement or that has not been sold pursuant
to an effective registration statement or an exemption that permits removal of the legend, shall bear a legend substantially in
the following form, as appropriate:

 

“NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN
A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE
144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.”

 

The
legend set forth above shall be removed and the Borrower shall issue to the Holder a new certificate therefore free of any transfer
legend if (i) the Borrower or its transfer agent shall have received an opinion of counsel, in form, substance and scope customary
for opinions of counsel in comparable transactions, to the effect that a public sale or transfer of such Common Stock may be made
without registration under the Act, which opinion shall be reasonably accepted by the Borrower so that the sale or transfer is
effected or (ii) in the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by
the Holder under an effective registration statement filed under the Act or otherwise may be sold pursuant to Rule 144 without
any restriction as to the number of securities as of a particular date that can then be immediately sold. In the event that the
Borrower does not accept the opinion of counsel provided by the Buyer with respect to the transfer of Securities pursuant to an
exemption from registration, such as Rule 144 or Regulation S, at the Deadline, it will be considered an Event of Default pursuant
to Section 3.2 of the Note.

 

1.6
Effect of Certain Events.

 

(a)
Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially
all of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which
more than 50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of
the Borrower with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall either: (i)
be deemed to be an Event of Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the
Holder upon the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined in Article
III) or (ii) be treated pursuant to Section 1.6(b) hereof. “Person” shall mean any individual, corporation, limited
liability company, partnership, association, trust or other entity or organization.

 

    	 

     

    

 

 

 

(b)
Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion
of all of the Notes, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other
similar event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number
of shares of another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance
of all or substantially all of the assets of the Borrower other than in connection with a plan of complete liquidation of the
Borrower, then the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis
and upon the terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable
upon conversion, such stock, securities or assets which the Holder would have been entitled to receive in such transaction had
this Note been converted in full immediately prior to such transaction (without regard to any limitations on conversion set forth
herein), and in any such case appropriate provisions shall be made with respect to the rights and interests of the Holder of this
Note to the end that the provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and
of the number of shares issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable
in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction
described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, thirty (30) days prior written notice (but
in any event at least fifteen (15) days prior written notice) of the record date of the special meeting of shareholders to approve,
or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization
or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting
successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations of this Section 1.6(b). The
above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

(c)
Adjustment Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire
its assets) to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any
dividend or distribution to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock
of a subsidiary (i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion
of this Note after the date of record for determining shareholders entitled to such Distribution, to receive the amount of such
assets which would have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had
such Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to
such Distribution.

 

(d)
Purchase Rights. If, at any time when any Notes are issued and outstanding, the Borrower issues any convertible securities
or rights to purchase stock, warrants, securities or other property (the “Purchase Rights”) pro rata to the record
holders of any class of Common Stock, then the Holder of this Note will be entitled to acquire, upon the terms applicable to such
Purchase Rights, the aggregate Purchase Rights which such Holder could have acquired if such Holder had held the number of shares
of Common Stock acquirable upon complete conversion of this Note (without regard to any limitations on conversion contained herein)
immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights or, if no such
record is taken, the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of
such Purchase Rights.

 

(e)
Notice of Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price as a result of the
events described in this Section 1.6, the Borrower, at its expense, shall promptly compute such adjustment or readjustment and
prepare and furnish to the Holder a certificate setting forth such adjustment or readjustment and showing in detail the facts
upon which such adjustment or readjustment is based. The Borrower shall, upon the written request at any time of the Holder, furnish
to such Holder a like certificate setting forth (i) such adjustment or readjustment, (ii) the Conversion Price at the time in
effect and (iii) the number of shares of Common Stock and the amount, if any, of other securities or property which at the time
would be received upon conversion of the Note.

 

1.7
Trading Market Limitations. Unless permitted by the applicable rules and regulations of the principal securities market
on which the Common Stock is then listed or traded, in no event shall the Borrower issue upon conversion of or otherwise pursuant
to this Note and the other Notes issued pursuant to the Purchase Agreement more than the maximum number of shares of Common Stock
that the Borrower can issue pursuant to any rule of the principal United States securities market on which the Common Stock is
then traded (the “Maximum Share Amount”), which shall be 4.99% of the total shares outstanding on the Closing Date
(as defined in the Purchase Agreement), subject to equitable adjustment from time to time for stock splits, stock dividends, combinations,
capital reorganizations and similar events relating to the Common Stock occurring after the date hereof. Once the Maximum Share
Amount has been issued, if the Borrower fails to eliminate any prohibitions under applicable law or the rules or regulations of
any stock exchange, interdealer quotation system or other self-regulatory organization with jurisdiction over the Borrower or
any of its securities on the Borrower’s ability to issue shares of Common Stock in excess of the Maximum Share Amount, in
lieu of any further right to convert this Note, this will be considered an Event of Default under Section 3.2 of the Note.

 

    	 

     

    

 

 

 

1.8
Status as Shareholder. Upon submission of a Notice of Conversion by a Holder, (i) the shares covered thereby (other than
the shares, if any, which cannot be issued because their issuance would exceed such Holder’s allocated portion of the Reserved
Amount or Maximum Share Amount) shall be deemed converted into shares of Common Stock and (ii) the Holder’s rights as a
Holder of such converted portion of this Note shall cease and terminate, excepting only the right to receive certificates for
such shares of Common Stock and to any remedies provided herein or otherwise available at law or in equity to such Holder because
of a failure by the Borrower to comply with the terms of this Note. Notwithstanding the foregoing, if a Holder has not received
certificates for all shares of Common Stock prior to the tenth (10th) business day after the expiration of the Deadline with respect
to a conversion of any portion of this Note for any reason, then (unless the Holder otherwise elects to retain its status as a
holder of Common Stock by so notifying the Borrower) the Holder shall regain the rights of a Holder of this Note with respect
to such unconverted portions of this Note and the Borrower shall, as soon as practicable, return such unconverted Note to the
Holder or, if the Note has not been surrendered, adjust its records to reflect that such portion of this Note has not been converted.
In all cases, the Holder shall retain all of its rights and remedies (including, without limitation, (i) the right to receive
Conversion Default Payments pursuant to Section 1.3 to the extent required thereby for such Conversion Default and any subsequent
Conversion Default and (ii) the right to have the Conversion Price with respect to subsequent conversions determined in accordance
with Section 1.3) for the Borrower’s failure to convert this Note.

 

1.9
Prepayment. Notwithstanding anything to the contrary contained in this Note, the Borrower may prepay the amounts outstanding
hereunder pursuant to the following terms and conditions:

 

(a)
At any time during the period beginning on the Issue Date and ending on the date which is one hundred eighty (180) days following
the Issue Date, the Borrower shall have the right, exercisable on not less than five (5) Trading Days prior written notice to
the Holder of the Note to prepay the outstanding Note (principal and accrued interest), in full by making a payment to the Holder
of an amount in cash equal to 115%, multiplied by the sum of: (w) the then outstanding principal amount of this Note plus
(x) accrued and unpaid interest on the unpaid principal amount of this Note plus (y) Default Interest, if any.

 

(b)
After the expiration of one hundred eighty-one (181) days following the date of the Note, the Borrower shall have no right of
prepayment except by written consent of the Holder.

 

Any
notice of prepayment hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at
its registered addresses and shall state: (1) that the Borrower is exercising its right to prepay the Note, and (2) the date
of prepayment which shall be not more than three (3) Trading Days from the date of the Optional Prepayment Notice. On the
date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make payment of the applicable
prepayment amount to or upon the order of the Holder as specified by the Holder in writing to the Borrower at least one (1)
business day prior to the Optional Prepayment Date. If the Borrower delivers an Optional Prepayment Notice and fails to pay
the applicable prepayment amount due to the Holder of the Note within two (2) business days following the Optional Prepayment
Date, the Borrower shall forever forfeit its right to prepay the Note pursuant to this Section 1.9.

 

1.10
Mandatory Prepayment Option. Notwithstanding the prepayment provisions set forth herein, no later than one hundred sixty
five (165) calendar days from the Issue Date, at the sole and absolute discretion of the Holder, the Holder may demand in writing
by e-mail (a “Prepayment Demand”), prepayment by the Borrower to the Holder in cash in an amount equal to 115%, multiplied
by the sum of: (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal
amount of this Note plus (y) Default Interest, if any (the “Mandatory Prepayment Amount”). Upon delivery of the Prepayment
Demand, the Borrower shall have one hundred eighty (180) calendar days from the Issue Date to deliver the Mandatory Prepayment
Amount to the Holder (the “Prepayment Delivery Date”). In the event the Borrower fails to deliver the Mandatory Prepayment
Amount to the Holder on or before the Prepayment Delivery Date, it shall be an Event of Default under Section 3.4 herein.

 

    	 

     

    

 

 

ARTICLE
II. CERTAIN COVENANTS

 

2.1
Distributions on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent (a) pay, declare or set apart for such payment, any dividend or other distribution
(whether in cash, property or other securities) on shares of capital stock other than dividends on shares of Common Stock solely
in the form of additional shares of Common Stock or (b) directly or indirectly or through any subsidiary make any other payment
or distribution in respect of its capital stock except for distributions pursuant to any shareholders’ rights plan which
is approved by a majority of the Borrower’s disinterested directors.

 

2.2
Restriction on Stock Repurchases. So long as the Borrower shall have any obligation under this Note, the Borrower shall
not without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property
or other securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the
Borrower or any warrants, rights or options to purchase or acquire any such shares.

 

2.3
Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the
Holder’s written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary
course of business. Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

2.4
Advances and Loans. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without
the Holder’s written consent, lend money, give credit or make advances to any person, firm, joint venture or corporation,
including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Borrower, except loans, credits
or advances (a) in existence or committed on the date hereof and which the Borrower has informed Holder in writing prior to the
date hereof, (b) made in the ordinary course of business or (c) not in excess of $500,000.

 

2.5
Preservation of Existence, etc. The Borrower shall maintain and preserve, and cause each of its Subsidiaries to maintain
and preserve, its existence, rights and privileges, and become or remain, and cause each of its Subsidiaries (other than dormant
Subsidiaries that have no or minimum assets) to become or remain, duly qualified and in good standing in each jurisdiction in
which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification
necessary.

 

2.6
Non-circumvention. The Borrower hereby covenants and agrees that the Borrower will not, by amendment of its Certificate
or Articles of Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement,
dissolution, issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Note, and will at all times in good faith carry out all the provisions of this Note and take all action
as may be required to protect the rights of the Holder.

 

ARTICLE
III. EVENTS OF DEFAULT

 

If
any of the following events of default (each, an “Event of Default”) shall occur:

 

3.1
Failure to Pay Principal or Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this
Note, whether by the Maturity Date, upon acceleration or otherwise.

 

    	 

     

    

 

 

 

3.2
Conversion and the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens
in writing that it will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder
in accordance with the terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or
in certificated form) any certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant
to this Note as and when required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or
hinders its transfer agent in transferring (or issuing) (electronically or in certificated form) any certificate for shares of
Common Stock to be issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note,
or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing)
any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of
Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or
makes any written announcement, statement or threat that it does not intend to honor the obligations described in this paragraph)
and any such failure shall continue uncured (or any written announcement, statement or threat not to honor its obligations shall
not be rescinded in writing) for three (3) business days after the Holder shall have delivered a Notice of Conversion. It is an
obligation of the Borrower to remain current in its obligations to its transfer agent. It shall be an event of default of this
Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer agent.
If at the option of the Holder, the Holder advances any funds to the Borrower’s transfer agent in order to process a conversion,
such advanced funds shall be paid by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

3.3
Failure to Deliver Transaction Expense Amount. The Borrower fails to deliver the Transaction Expense Amount (as defined
in the Purchase Agreement) to the Holder within three (3) business days of the date such amount is due.

 

3.4
Breach of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this
Note and any collateral documents including but not limited to the Purchase Agreement.

 

3.5
Breach of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement,
statement or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase
Agreement), shall be false or misleading in any material respect when made and the breach of which has (or with the passage of
time will have) a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.6
Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors
or commence proceedings for its dissolution, or apply for or consent to the appointment of a receiver or trustee for it or for
a substantial part of its property or business, or such a receiver or trustee shall otherwise be appointed for the Borrower or
for a substantial part of its property or business without its consent and shall not be discharged within sixty (60) days after
such appointment.

 

3.7
Judgments. Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary
of the Borrower or any of its property or other assets for more than $50,000, and shall remain unvacated, unbonded or unstayed
for a period of sixty (60) days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.8
Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary,
for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any
subsidiary of the Borrower, or the Borrower admits in writing its inability to pay its debts generally as they mature, or have
filed against it an involuntary petition for bankruptcy relief, all under federal or state laws as applicable or the Borrower
admits in writing its inability to pay its debts generally as they mature, or have filed against it an involuntary petition for
bankruptcy relief, all under international, federal or state laws as applicable.

 

3.9
Delisting of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on the Nasdaq National Market,
the Nasdaq Small Cap Market, the New York Stock Exchange, the NYSE MKT or OTC Markets “PINK”.

 

3.10
Failure to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange
Act (including but not limited to becoming delinquent in its filings; and/or the Borrower shall cease to be subject to the reporting
requirements of the Exchange Act.

 

3.11
Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.12
Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to
pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as
a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

    	 

     

    

 

 

 

3.13
Maintenance of Assets. The failure by Borrower to maintain any material intellectual property rights, personal, real property
or other assets which are necessary to conduct its business (whether now or in the future) or any disposition or conveyance of
any material asset of the Borrower.

 

3.14
Financial Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC for any
date or period from two years prior to the Issue Date of this Note and until this Note is no longer outstanding, if the result
of such restatement would, by comparison to the unrestated financial statement, have constituted a material adverse effect on
the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.15
Reverse Splits. The Borrower effectuates a reverse split of its Common Stock without twenty (20) days prior written notice
to the Holder.

 

3.16
Replacement of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails
to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form
as initially delivered pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares
of Common Stock in the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower.

 

3.17
Cessation of Trading. Any cessation of trading of the Common Stock on the Nasdaq National Market, the Nasdaq Small Cap
Market, the New York Stock Exchange, the NYSE MKT or the OTC Markets “PINK” and such cessation of trading shall continue
for a period of five consecutive (5) Trading Days.

 

3.18
Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents,
a breach or default by the Borrower of any material covenant or other term or condition contained in any of the Other Agreements,
other than any such breach or default which is cured by agreement of the parties, after the passage of all applicable notice and
cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements, in
which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the terms
of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements”
means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the
Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided, however, the term “Other
Agreements” shall not include the agreements and instruments defined as the Documents. Each of the loan transactions will
be cross-defaulted with each other loan transaction and with all other existing and future debt of Borrower to the Holder.

 

3.19
Bid Price. The Borrower shall lose the “bid” price for its Common Stock ($0.0001 on the “Ask” with
zero market makers on the “Bid” per Level 2) and/or a market.

 

3.20
OTC Markets Designation. OTC Markets changes the Borrower’s designation to ‘No Information’ (Stop Sign),
‘Caveat Emptor’ (Skull and Crossbones), or ‘Grey Market’ (Exclamation Mark Sign).

 

3.21
Inside Information. Any attempt by the Borrower or its officers, directors, and/or affiliates to transmit, convey, disclose,
or any actual transmittal, conveyance, or disclosure by the Borrower or its officers, directors, and/or affiliates of, material
non-public information concerning the Borrower, to the Holder or its successors and assigns, which is not immediately cured by
Borrower’s filing of a Form 8-K pursuant to Regulation FD on that same date.

 

3.22
Unavailability of Rule 144. If, at any time on or after the date which is six (6) months after the Issue Date, the Holder
is unable to (i) obtain a standard “144 legal opinion letter” from an attorney reasonably acceptable to the Holder,
the Holder’s brokerage firm (and respective clearing firm), and the Borrower’s transfer agent in order to facilitate
the Holder’s conversion of any portion of the Note into free trading shares of the Borrower’s Common Stock pursuant
to Rule 144, and (ii) thereupon deposit such shares into the Holder’s brokerage account.

 

    	 

     

    

 

 

 

3.23
3(a)(10) Transaction. So long as this Note is outstanding, the Borrower shall not enter into any transaction or arrangement
structured in accordance with, based upon, or related or pursuant to, in whole or in part, Section 3(a)(l0) of the Securities
Act.

 

Upon
the occurrence of any Event of Default specified in Sections 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 3.11, 3.12,
3.13, 3.14, 3.15, 3.16. 3.17, 3.18, 3.19, 3.20, 3.21, 3.22 and 3.23, exercisable through the delivery of written notice to
the Borrower by such Holders (the “Default Notice”), the Alternate Conversion Price shall be effective, the Note
shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations
hereunder, an amount equal to 130% times the sum of (w) the then outstanding principal amount of this Note plus
(x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment (the “Mandatory
Prepayment Date”) plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus
(z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding principal amount of this
Note to the date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be known as
the “Default Sum”) or (ii) at the option of the Holder, the “parity value” of the Default Sum to be
prepaid, where parity value means (a) the highest number of shares of Common Stock issuable upon conversion of or otherwise
pursuant to such Default Sum in accordance with Article I, treating the Trading Day immediately preceding the Mandatory
Prepayment Date as the “Conversion Date” for purposes of determining the lowest applicable Conversion Price,
unless the Default Event arises as a result of a breach in respect of a specific Conversion Date in which case such
Conversion Date shall be the Conversion Date), multiplied by (b) the highest Trading Price for the Common Stock during
the period beginning on the date of first occurrence of the Event of Default and ending one day prior to the Mandatory
Prepayment Date (the “Default Amount”) and all other amounts payable hereunder shall immediately become due and
payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs,
including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other
rights and remedies available at law or in equity. Further, if a breach of Sections 3.9, 3.10 and/or 3.19 occurs or is
continuing after the six (6) month anniversary of this Note, then the principal amount of the Note shall increase by Five
Thousand and No/100 United States Dollars ($5,000) (under Holder’s and Borrower’s expectation that any principal
amount increase will tack back to the Issue Date) and the Holder shall be entitled to use the lowest Trading Price during the
delinquency period as a base price for the conversion with the Alternate Conversion Price shall be redefined to mean sixty
percent (60%) multiplied by the Market Price (at the option of the Holder), subject to adjustment as provided in this Note.
For example, if the lowest Trading Price during the delinquency period is $0.01 per share and the conversion discount is 50%,
then the Holder may elect to convert future conversions at $0.006 per share.

 

The
Holder shall have the right at any time, to require the Borrower to immediately issue, in lieu of the Default Amount, the number
of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect, subject
to the terms of this Note. This requirement by the Borrower shall automatically apply upon the occurrence of an Event of Default
without the need for any party to give any notice or take any other action.

 

If
the Holder shall commence an action or proceeding to enforce any provisions of this Note, including, without limitation, engaging
an attorney, then if the Holder prevails in such action, the Holder shall be reimbursed by the Borrower for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

ARTICLE
IV. MISCELLANEOUS

 

4.1
Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or
privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege
preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder
are cumulative to, and not exclusive of, any rights or remedies otherwise available.

 

    	 

     

    

 

 

4.2
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder
shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered
or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid,
or (iv) transmitted by hand delivery, telegram, e-mail or facsimile, addressed as set forth below or to such other address as
such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be
given hereunder shall be deemed effective (a) upon hand delivery or delivery by email or facsimile, with accurate confirmation
generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during
normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other
than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following
the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing,
whichever shall first occur. The addresses for such communications shall be:

 

If
to the Borrower, to:

 

GeneRX,
Inc.

920
NE 80th Street

Miami,
FL 33138

 

If
to the Holder:

 

MJ
Holdings Inc

7320
S Rainbow Blvd, #102-210

Las
Vegas, NV 89139

 

4.3
Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and
the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument
(and the other Notes issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then
as so amended or supplemented.

 

4.4
Assignability. This Note shall be binding upon the Borrower and its successors and assigns and shall inure to be the benefit
of the Holder and its successors and assigns. Neither the Borrower nor the Holder shall assign this Note or any rights or obligations
hereunder without the prior written consent of the other. Notwithstanding the foregoing, the Holder may assign its rights hereunder
to any “accredited investor” (as defined in Rule 501(a) of the 1933 Act) in a private transaction from the Holder
or to any of its “affiliates”, as that term is defined under the 1934 Act, without the consent of the Borrower. Notwithstanding
anything in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account
or other lending arrangement. The Holder and any assignee, by acceptance of this Note, acknowledge and agree that following conversion
of a portion of this Note, the unpaid and unconverted principal amount of this Note represented by this Note may be less than
the amount stated on the face hereof.

 

4.5
Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof reasonable
costs of collection, including reasonable attorneys’ fees.

 

4.6
Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Delaware without
regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note shall be brought only in the state courts of Florida, in the federal courts located in the District of the State
of Florida, or in such other jurisdiction and venue as the Holder may determine in its sole discretion. The parties to this Note
hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense
based on lack of jurisdiction or venue or based upon forum non conveniens. THE BORROWER HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH
OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY. The prevailing party shall be entitled to recover from
the other party its reasonable attorney’s fees and costs. In the event that any provision of this Note or any other agreement
delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of law, then such provision
shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute
or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability
of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process
being served in any suit, action or proceeding in connection with this Agreement or any other Transaction Document by mailing
a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address
in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of
process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other
manner permitted by law.

 

    	 

     

    

 

 

 

4.7
Certain Amounts. Whenever pursuant to this Note the Borrower is required to pay an amount in excess of the outstanding
principal amount (or the portion thereof required to be paid at that time) plus accrued and unpaid interest plus Default Interest
on such interest, the Borrower and the Holder agree that the actual damages to the Holder from the receipt of cash payment on
this Note may be difficult to determine and the amount to be so paid by the Borrower represents stipulated damages and not a penalty
and is intended to compensate the Holder in part for loss of the opportunity to convert this Note and to earn a return from the
sale of shares of Common Stock acquired upon conversion of this Note at a price in excess of the price paid for such shares pursuant
to this Note. The Borrower and the Holder hereby agree that such amount of stipulated damages is not plainly disproportionate
to the possible loss to the Holder from the receipt of a cash payment without the opportunity to convert this Note into shares
of Common Stock.

 

4.8
Purchase Agreement. By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase
Agreement.

 

4.9
Notice of Corporate Events. Except as otherwise provided below, the Holder of this Note shall have no rights as a Holder
of Common Stock unless and only to the extent that it converts this Note into Common Stock. The Borrower shall provide the Holder
with prior notification of any meeting of the Borrower’s shareholders (and copies of proxy materials and other information
sent to shareholders). In the event of any taking by the Borrower of a record of its shareholders for the purpose of determining
shareholders who are entitled to receive payment of any dividend or other distribution, any right to subscribe for, purchase or
otherwise acquire (including by way of merger, consolidation, reclassification or recapitalization) any share of any class or
any other securities or property, or to receive any other right, or for the purpose of determining shareholders who are entitled
to vote in connection with any proposed sale, lease or conveyance of all or substantially all of the assets of the Borrower or
any proposed liquidation, dissolution or winding up of the Borrower, the Borrower shall mail a notice to the Holder, at least
twenty (20) days prior to the record date specified therein (or thirty (30) days prior to the consummation of the transaction
or event, whichever is earlier), of the date on which any such record is to be taken for the purpose of such dividend, distribution,
right or other event, and a brief statement regarding the amount and character of such dividend, distribution, right or other
event to the extent known at such time. The Borrower shall make a public announcement of any event requiring notification to the
Holder hereunder substantially simultaneously with the notification to the Holder in accordance with the terms of this Section
4.9 including, but not limited to, name changes, recapitalizations, etc. as soon as possible under law.

 

4.10
Usury. If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
governing usury, the applicable provision shall automatically be revised to equal the maximum rate of interest or other amount
deemed interest permitted under applicable law. The Borrower covenants (to the extent that it may lawfully do so) that it will
not seek to claim or take advantage of any usury law that would prohibit or forgive the Borrower from paying all or a portion
of the principal or interest on this Note.

 

4.11
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the
Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that
the remedy at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened
breach by the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies
at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing
or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing
economic loss and without any bond or other security being required. No provision of this Note shall alter or impair the obligation
of the Borrower, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the time, place,
and rate, and in the form, herein prescribed.

 

    	 

     

    

 

 

 

4.12
Severability. In the event that any provision of this Note is invalid or unenforceable under any applicable statute or
rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed
modified to conform with such statute or rule of law. Any provision hereof which may prove invalid or unenforceable under any
law shall not affect the validity or enforceability of any other provision hereof.

 

4.13
Dispute Resolution. In the case of a dispute as to the determination of the Conversion Price, Conversion Amount, any prepayment
amount or Default Amount, Default Sum, Closing or Maturity Date, the closing bid price, or fair market value (as the case may
be) or the arithmetic calculation of the Conversion Price or the applicable prepayment amount(s) (as the case may be), the Borrower
or the Holder shall submit the disputed determinations or arithmetic calculations via facsimile (i) within two (2) Business Days
after receipt of the applicable notice giving rise to such dispute to the Borrower or the Holder or (ii) if no notice gave rise
to such dispute, at any time after the Holder learned of the circumstances giving rise to such dispute. If the Holder and the
Borrower are unable to agree upon such determination or calculation within two (2) Business Days of such disputed determination
or arithmetic calculation (as the case may be) being submitted to the Borrower or the Holder, then the Borrower shall, within
two (2) Business Days, submit via facsimile (a) the disputed determination of the Conversion Price, the closing bid price, the
or fair market value (as the case may be) to an independent, reputable investment bank selected by the Borrower and approved by
the Holder or (b) the disputed arithmetic calculation of the Conversion Price, Conversion Amount, any prepayment amount or Default
Amount, Default Sum to an independent, outside accountant selected by the Holder that is reasonably acceptable to the Borrower.
The Borrower shall cause at its expense the investment bank or the accountant to perform the determinations or calculations and
notify the Borrower and the Holder of the results no later than two (2) Business Days from the time it receives such disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation shall be binding
upon all parties absent demonstrable error.

 

4.14
Terms of Future Financings. So long as this Note is outstanding, upon any issuance by the Borrower or any of its subsidiaries
of any security with any term more favorable to the holder of such security or with a term in favor of the holder of such security
that was not similarly provided to the Holder in this Note, then the Borrower shall notify the Holder of such additional or more
favorable term and such term, at Holder’s option, shall become a part of the transaction documents with the Holder. The
types of terms contained in another security that may be more favorable to the holder of such security include, but are not limited
to, terms addressing conversion discounts, prepayment rate, conversion lookback periods, interest rates, original issue discounts,
stock sale price, private placement price per share, and warrant coverage.

 

[signature
page follows]

 

    	 

     

    

 

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer as of the date first above
written.

 

	 	GENERX,
    INC.
	 	 
	 	By:	
	 	Name:	Charles
    Richardson
	 	Title:	Chief
    Executive Officer

 

    	 

     

    

 

 

EXHIBIT
A

NOTICE OF CONVERSION

 

The
undersigned hereby elects to convert $principal amount of the Note (defined below) together with $of accrued
and unpaid interest thereto, totaling $into that number of shares of Common Stock to be issued pursuant to the conversion
of the Note (“Common Stock”) as set forth below, of GeneRX, Inc., a Delaware corporation (the “Borrower”),
according to the conditions of the convertible note of the Borrower dated as of March 12, 2021 (the “Note”), as of
the date written below. No fee will be charged to the Holder for any conversion, except for transfer taxes, if any.

 

Box
Checked as to applicable instructions:

 

	 	[  ]	The
    Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the
    undersigned or its nominee with DTC through its Deposit Withdrawal At Custodian system (“DWAC Transfer”).
	 	 	 
	 	 	Name
    of DTC Prime Broker:
	 	 	Account
    Number:
	 	 	 
	 	[  ]	The
                                                         undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock
                                                         set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified
                                                         immediately below or, if additional space is necessary, on an attachment hereto:

 

	 	Date
    of Conversion:		
	 	Applicable
    Conversion Price:	$
    ____________	 
	 	Number
    of Shares of Common Stock to be Issued	 	 
	 	Pursuant
    to Conversion of the Notes:	 	 
	 	Amount
    of Principal Balance Due remaining	 	 
	 	Under
    the Note after this conversion:	 	 
	 	Accrued
    and unpaid interest remaining:	 	 

 

	 	Investor
    Name	 
	 	 	 
	 	By:		 
	 	Name:	 
	 	Title:	PresidentExhibit 10.31

      

     
       

        

      SERIES C CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT

       

      This SERIES C CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT (this “Agreement”), dated as of March 17, 2021 (the “Effective Date”), is entered into by and between NextDecade
        Corporation, a Delaware corporation (“NextDecade” or the “Company”), and each of the parties set forth on the signature pages hereto under the heading “Purchasers” (the “Purchasers”).  NextDecade
        and the Purchasers are referred to herein individually as a “Party” and collectively as the “Parties.”

       

      RECITALS:

       

      WHEREAS, the Company has commenced a convertible preferred equity and warrant offering (the “Series C Preferred Equity Offering”), pursuant to which the Company has offered the Purchasers an
        opportunity to purchase shares of Series C Preferred Stock (as defined herein), together with certain associated Warrants (as defined herein), substantially on the terms and conditions set forth in the Certificate of Designations of Series C
        Convertible Preferred Stock of NextDecade Corporation attached to this Agreement as Exhibit C (the “Certificate of Designations”); and

       

      WHEREAS, the Company desires to sell to the Purchasers, and the Purchasers desire to purchase from the Company, Series C Preferred Stock, together with associated Warrants, as more fully set forth
        herein.

       

      NOW, THEREFORE, in consideration of the premises and the mutual agreements contained herein, and for other good and valuable consideration the receipt and sufficiency of which are hereby
        acknowledged, the Parties agree as follows:

       

      Section 1.        DEFINITIONS.  As used in this Agreement, the following terms shall have the following meanings:

       

      “Addendum” has the meaning assigned to it in Section 10.9.

       

      “Affiliate” means, with respect to any specified Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common
        control with, such specified Person.

       

      “Agreement” has the meaning assigned to it in the preamble hereto; it includes the Exhibits and Schedules hereto.

       

      “Assumption Agreement” has the meaning assigned to it in Section 10.9.

       

      “Board” means the board of directors of the Company.

       

      “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by Law to be closed in the City of New York.

       

      “Certificate of Designations” has the meaning assigned to it in the Recitals hereto.

       

      
        
          

      

      
      “Charter Documents” means, collectively, the certificate of incorporation, articles of incorporation, bylaws, certificate of designations or Board resolutions establishing the terms of any
        security, certificate of formation, operating agreement, limited liability company agreement and similar formation or organizational documents of any entity.

       

      “Closing” has the meaning assigned to it in Section 2.4.

       

      “Closing Actions” has the meaning assigned to it in Section 2.6.

       

      “Closing Date” has the meaning assigned to it in Section 2.4.

       

      “Code” means the Internal Revenue Code of 1986.

       

      “Common Stock” means the common stock of the Company, $0.0001 par value.

       

      “Company” has the meaning assigned to it in the preamble hereto.

       

      “Company Benefit Plan” means each (i) “employee benefit plan” within the meaning of Section 3(3) of ERISA, (ii) other benefit and compensation plan, contract, policy, program,  practice,
        arrangement or agreement, including, but not limited to, pension, profit-sharing,  savings, termination, executive compensation, phantom stock, change-in-control, retention,  salary continuation, vacation, sick leave, disability, death benefit,
        insurance, hospitalization,  medical, dental, life (including all individual life insurance policies as to which the Company or its Subsidiaries are the owners, the beneficiaries, or both), employee loan, educational assistance,  fringe benefit,
        deferred compensation, retirement or post-retirement, severance, equity or equity-based, incentive and bonus plan, contract, policy, program, practice, arrangement or agreement,  and (iii) other employment, consulting or other individual agreement,
        plan, practice, policy,  contract, program, and arrangement, in each case, (x) which is sponsored or maintained by the  Company or any of its ERISA Affiliates in respect of any current or former employees, directors,  independent contractors,
        consultants or leased employees of the Company or any of its  Subsidiaries or (y) with respect to which the Company or any of its Subsidiaries has any actual or potential liability.

       

      “Control” (including the terms “control” “controlled by” and “under common control with”), with respect to the relationship between or among two or more Persons, means
        the possession, directly or indirectly or as trustee, personal representative or executor, of the power to direct or cause the direction of the affairs, policies or management of a Person, whether through the ownership of voting securities, as
        trustee, personal representative or executor, by contract, credit arrangement or otherwise.

       

      “Conversion Price” means $2.9632.

       

      “Effective Date” has the meaning assigned to it in the preamble hereto.

       

      “Encumbrance” means any security interest, pledge, mortgage, lien, claim, option, charge, restriction or encumbrance.

       

      
        2

        
          

      

      “Environmental Claim” means any claim, action, cause of action, suit, proceeding, investigation, Order, demand or notice by any Person alleging liability (including liability for
        investigatory costs, cleanup costs, governmental response costs, natural resources damages, property damages, personal injuries, attorneys’ fees, fines or penalties) arising out of, based on, resulting from or relating to (a) the presence or
        Release of, or exposure to, any  Hazardous Materials; (b) circumstances forming the basis of any violation, or alleged violation, of any Environmental Law; or (c) any other matters covered or regulated by, or for which liability is imposed under,
        Environmental Laws.

       

      “Environmental Laws” means all applicable Laws relating to pollution, the protection, restoration or remediation of or prevention of harm to the environment or natural resources (including
        plant and animal species), or the protection of human health and safety, including Laws relating to: (i) the exposure to, or Releases or threatened Releases of, Hazardous Materials; (ii) the generation, manufacture, processing, distribution, use,
        treatment, containment, disposal, storage, transport or handling of Hazardous Materials; or (iii) recordkeeping, notification, disclosure and reporting requirements respecting Hazardous Materials

       

      “ERISA” means the Employee Retirement Income Security Act of 1974, as amended.

       

      “ERISA Affiliate” means any Person (whether or not incorporated) that together with the Company or any of its Subsidiaries is treated as a single employer within the meaning of Section 414
        of the Code.

       

      “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations promulgated thereunder, or any successor statute.

       

      “Final Order” means a final, nonappealable Order of a court of competent jurisdiction.

       

      “Fundamental Representations” means (i) with respect to the Company, those representations and warranties of the Company set forth in Sections 3.1 (Organization

          and Qualification; Subsidiaries), 3.2 (Authorization; Enforcement; Validity), 3.3 (No Conflicts), 3.4 (Consents and Approvals), 3.5 (Capitalization) and 3.6 (Valid Issuance), and (ii) with respect to the Purchasers, those
        representations and warranties of the Purchasers set forth in Sections 4.1 (Organization and Qualification), 4.2 (Authorization; Enforcement; Validity),

        4.3 (No Conflicts) and 4.4 (Consents and Approvals).

       

      “Governmental Authority” means any federal, national, supranational, foreign, state, provincial, local, county, municipal or other government, any governmental, regulatory or administrative
        authority, agency, department, bureau, board, commission or official or any quasi-governmental or private body exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority, or any court, tribunal, judicial or
        arbitral body, or any Self-Regulatory Organization.

       

      
        3

        
          

      

      “Hazardous Materials” means: (a) any hazardous materials, hazardous wastes, hazardous substances, toxic wastes, solid wastes, and toxic substances as those or similar terms are defined under
        any Environmental Laws; (b) any asbestos or asbestos containing material; (c) polychlorinated biphenyls (“PCBs”), or PCB containing materials or fluids; (d) radon; (e) any petroleum, petroleum hydrocarbons, petroleum products, crude oil and
        any fractions or derivatives thereof; and (f) any other substance, material, chemical, waste, pollutant, or contaminant that, whether by its nature or its use, or exposure to is subject to regulation or could give rise to liability under any Laws
        relating to pollution, waste, human health and safety, or the environment.

       

      “Indemnified Party” means the Purchasers, each of their Affiliates, and each of their respective directors, managers, officers, principals, partners, members, equity holders (regardless of
        whether such interests are held directly or indirectly), trustees, controlling persons, predecessors, successors and assigns, Subsidiaries, employees, agents, advisors, attorneys and representatives.

       

      “Insolvency Event” means, with respect to any Person, the occurrence of any of the following:

       

      (a) such Person shall (A) (i) voluntarily commence any proceeding or file any petition seeking relief under Title 11 of the United States Code, Sections 101 et. seq. (the “Bankruptcy Code”)
        or any other federal, state or foreign bankruptcy, insolvency, liquidation or similar Law, (ii) consent to the institution of, or fail to contravene in a timely and appropriate manner, any such proceeding or the filing of any such petition, (iii)
        apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator or similar official for such Person or for a substantial part of its property or assets, (iv) file an answer admitting the material allegations of a petition
        filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any of the foregoing or (B) such Person shall become unable, admit in writing its inability or
        fail generally to pay its debts as they become due; or

       

      (b) an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking (A) relief in respect of such Person or of a substantial part of the property or assets of such
        Person, under the Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency, receivership or similar Law, (B) the appointment of a receiver, trustee, custodian, sequestrator or similar official for such Person or for a
        substantial part of the property of such Person or (C) the winding-up or liquidation of such Person; and such proceeding or petition shall continue undismissed for sixty (60) days or an order or decree approving or ordering any of the foregoing
        shall have been entered.

       

      “Intellectual Property” means the following intellectual property rights, both statutory and common law rights, if applicable: (a) copyrights and registrations and applications for
        registration thereof, (b) trademarks, service marks, trade names, slogans, domain names, logos, trade dress, and registrations and applications for registrations thereof, (c) patents, as well as any reissued and reexamined patents and extensions
        thereto, and any patent applications, continuations, continuations in part and divisional applications and patents issuing therefrom, and (d) trade secrets and confidential information, including ideas, designs, concepts, compilations of
        information, methods, techniques, procedures, processes and other know-how, whether or not patentable.

       

      
        4

        
          

      

      “Knowledge” means with respect to the Company, the actual knowledge after due inquiry of the persons set forth on Schedule 1.1(a).

       

      “Law” means any federal, national, supranational, foreign, state, provincial, local, county, municipal or similar statute, law, common law, guideline, policy, ordinance, regulation, rule,
        code, constitution, treaty, requirement, judgment or judicial or administrative doctrines enacted, promulgated, issued, enforced or entered by any Governmental Authority.

       

      “Material Adverse Effect” means any effect, change, event, occurrence, development, or state of facts that, individually or in the aggregate with all other such effects, changes, events,
        occurrences, developments, or states of fact, (A) has had, or would reasonably be expected to have, a material adverse effect on the business, assets, liabilities, condition (financial or otherwise), or results of operations of the Company and its
        Subsidiaries, taken as a whole or (B) would, or would reasonably be expected to, prevent or materially impair the ability of the Company to consummate the transactions contemplated by this Agreement, but expressly
          excluding in the case of the foregoing clause (A) any such effect, change, event, occurrence, development, or state of facts, either alone or in combination, to the extent arising out of or resulting from:

      

      

      (a)          the execution or delivery of this Agreement, the
          consummation of the transactions contemplated by this Agreement or the public announcement or other publicity with respect to any of the foregoing; provided, however, that the exception set forth in this
          clause (a) shall not apply to the representations and warranties set forth in clauses (b) and (c) of Section 3.3 or to the representations and warranties set forth in Section 3.4;

       

      (b)          general economic conditions (or changes in such
          conditions) in the United States or conditions in the global economy generally that do not affect the Company and its Subsidiaries, taken as a whole, disproportionately as compared to other similarly situated participants in the liquefied natural
          gas export industry (in which case only such disproportionate impact shall be considered);

       

      (c)           changes in the trading price or trading volume of the
          Common Stock.

       

      (d)          conditions (or changes in such conditions) generally
          affecting the liquefied natural gas export industry that do not affect the Company and its Subsidiaries, taken as a whole, disproportionately as compared to other similarly situated participants in the liquefied natural gas export industry (in
          which case only such disproportionate impact shall be considered);

       

      (e)          conditions (or changes in such conditions) in the
          financial markets, credit markets or capital markets in the United States or any other country or region, including (i) changes in interest rates in the United States or any other country and changes in
          exchange rates for the currencies of any countries or (ii) any suspension of trading in securities (whether equity, debt, derivative or hybrid securities) generally (other than a suspension of the trading of the Company’s Common Stock, which
          constitutes a Material Adverse Effect, provided such suspension is not part of a broader suspension of securities) on any securities exchange or over-the-counter market operating in the United States or any other country or region in each case,
          that do not affect the Company as a whole disproportionately as compared to other similarly situated participants in the liquefied natural gas export industry (in which case only such disproportionate impact shall be considered);

       

      
        5

        
          

      

      (f)           any actions taken or omitted to be taken at the written request or with the
          written consent of the Purchasers; or

       

      (g)         any changes in any Laws or any accounting regulations or
          principles that do not affect the Company, taken as a whole, disproportionately as compared to other similarly situated participants in the liquefied natural gas export industry (in which case only such disproportionate impact shall be
          considered).

       

      Notwithstanding any provision of the preceding sentence to the contrary, the occurrence of an Insolvency Event in respect of the Company or any Subsidiary of the Company shall be deemed to constitute a Material
        Adverse Effect.

       

      “Material Contracts” means all “material contracts” of the Company within the meaning of Item 601 of Regulation S-K of the SEC.

       

      “NextDecade” has the meaning assigned to it in the preamble hereto.

       

      “OFAC” means the Office of Foreign Assets Control of the U.S. Department of the Treasury.

       

      “Offering Documents” means, collectively, all agreements, documents, or instruments related to or in connection with the Series C Preferred Equity Offering, including this Agreement and any
        other documents or exhibits related to or contemplated in the foregoing.

       

      “Order” means any order, writ, judgment, injunction, decree, ruling, directive, stipulation, determination or award made, issued or entered by or with any Governmental Authority, whether
        preliminary, interlocutory or final.

       

      “Party” or “Parties” has the meaning assigned to it in the preamble hereto.

       

      “Person” means any individual, partnership, firm, corporation, limited liability company, association, joint venture, trust, Governmental Authority, unincorporated organization or other
        entity, as well as any syndicate or group that would be deemed to be a person under Section 13(d)(3) of the Exchange Act.

       

      “Permits” means all permits, consents, approvals, registrations, licenses, authorizations, qualifications and filings with and under all federal, state, local or foreign Laws and
        Governmental Authorities.

       

      “Purchase Price” has the meaning assigned to it in Section 2.2.

       

      
        6

        
          

      

      “Purchasers” has the meaning assigned to it in the preamble hereto.

       

      “Purchaser Default” means the failure by the Purchasers to deliver and pay the Purchase Price to be paid pursuant to this Agreement.

       

      “Purchaser Material Adverse Effect” means any event, circumstance, development, change or effect that, individually or in the aggregate with all other events, circumstances, developments,
        changes or effects, has or would reasonably be expected to prevent, materially delay or materially impair the ability of the Purchasers to consummate the transactions contemplated hereby.

       

      “Purchaser Termination” means the termination of this Agreement by the Purchasers.

       

      “Purchaser Termination Event” has the meaning assigned to it in Section 8(a).

       

      “Registration Rights Agreement” means the Registration Rights Agreement, in substantially the form attached hereto as Exhibit F.

      

      

      “Release” means any release, spill, emission, discharge, leaking, pouring, dumping or emptying, pumping, injection, deposit, disposal, dispersal, leaching or migration into the indoor or
        outdoor environment (including, without limitation, soil, ambient air, surface water, groundwater and surface or subsurface strata) or into or out of any property, including the movement of Hazardous Materials through or in the air, soil, surface
        water, groundwater or property.

      

      

      “Sanctioned Person” means any Person that is the target of Sanctions, including, (a) any Person listed in any Sanctions related list of designated Persons maintained by OFAC or the U.S.
        Department of State, by the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom, (b) any Person located, organized or resident in a Sanctioned Territory, or (c) any Person directly or indirectly owned
        or controlled by any such Person or Persons described in the foregoing clauses (a) and (b).

      

      

      “Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by relevant Governmental Authorities, including, but not limited
        those administered by the U.S. government through OFAC or the U.S. Department of State, the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.

      

      

      “SEC” has the meaning assigned to it in Section 3.7(a).

      

      

      “SEC Reports” has the meaning assigned to it in Section 3.7(a).

      

      

      “Securities Act” means the Securities Act of 1933, as amended from time to time, and the rules and regulations promulgated thereunder, or any successor statute.

       

      
        7

        
          

      

      “Self-Regulatory Organization” means any securities exchange, futures exchange, contract market, any other exchange or corporation or similar self-regulatory body or organization applicable
        to a Party to this Agreement.

       

      “Series C Preferred Equity Offering” has the meaning assigned to it in the Recitals hereto.

       

      “Series C Preferred Stock” means the Series C Convertible Preferred Stock of the Company (including any Series C Preferred Stock issued in respect of dividend payments thereon).

       

      “Subsidiary” means, with respect to any Person, any other Person of which the first Person owns, directly or indirectly, securities or other ownership interests having voting power to elect
        a majority of the board of directors or other Persons performing similar functions for such Person (or, if there are no such voting interests, more than 50% of the equity interests allowing for effective control of the second Person).

       

      “Survival Period” has the meaning assigned to it in Section 10.3.

       

      “Tax” (and, with correlative meaning, “Taxes” and “Taxable”) means: (a) any taxes, customs, duties, charges, fees, levies, penalties or other assessments, fees and other governmental charges
        imposed by any Governmental Authority, including, but not limited to, income, profits, gross receipts, net proceeds, windfall profit, severance, property, personal property (tangible and intangible), production, sales, use, leasing or lease,
        license, excise, duty, franchise, capital stock, net worth, employment, occupation, payroll, withholding, social security (or similar), unemployment, disability, payroll, fuel, excess profits, occupational, premium, severance, estimated,
        alternative or add-on minimum, ad valorem, value added, turnover, transfer, stamp or environmental tax, or any other tax, custom, duty, fee, levy or other like assessment or charge of any kind whatsoever, together with any interest, penalty,
        addition to tax, or additional amount attributable thereto; and (b) any liability for the payment of amounts with respect to payment of a type described in clause (a), including (i) as a result of being a member of an affiliated, consolidated,
        combined or unitary group, (ii) as a result of succeeding to such liability as a result of merger, conversion or asset transfer or (iii) as a result of any obligation under any Tax sharing, Tax allocation, Tax indemnity, or similar agreement or
        arrangement.

       

      “Tax Representations” means those representations and warranties of the Company set forth in Section 3.19.

       

      “Tax Returns” means any return, report, statement, information return or other document (including any amendments thereto and any related or supporting information) filed or required to be
        filed with any Governmental Authority in connection with the determination, assessment, collection or administration of any Taxes or the administration of any laws, regulations or administrative requirements relating to any Taxes.

       

      “Treasury Regulations” means the regulations promulgated under the Code, by the United States Department of the Treasury, as such regulations may be amended from time to time.  All
        references herein to specific sections of the regulations shall be deemed also to refer to any corresponding provisions of succeeding regulations, and any reference to temporary regulations shall be deemed also to refer to any corresponding
        provisions of final regulations.

       

      
        8

        
          

      

      “Warrants” means detached warrants in the form attached hereto as Exhibit D.

       

      Section 2.        AGREEMENT TO SELL AND PURCHASE.

       

      2.1     Sale and Purchase of Shares. 
          Subject to the terms of this Agreement, at the Closing, the Company hereby agrees to issue and sell to the Purchasers, and the Purchasers hereby agree, severally and not jointly, to purchase from the Company, an aggregate amount of 12,000 shares
          of Series C Preferred Stock, together with the associated Warrants, free and clear of all Encumbrances, in the amounts, with respect to each such Purchaser, set forth on Schedule A hereto.

       

      2.2      Purchase Price. The purchase price
          for the Series C Preferred Stock to be purchased by the Purchasers hereby shall be $1,000 per share such that the aggregate purchase price to be paid by the Purchasers shall be $12,000,000 (the “Purchase Price”).

       

      2.3     Origination Fee.  Subject to the
          terms of this Agreement, at the Closing, the Company hereby agrees to issue to the Purchasers 240 additional shares of Series C Preferred Stock (but excluding the associated Warrants), representing an origination fee in an aggregate amount equal
          to $240,000 or approximately two percent (2%) of the Purchase Price, free and clear of all Encumbrances, in the amounts, with respect to each such Purchaser, set forth on Schedule A hereto.

       

      2.4      Closing.  Subject to the terms of
          this Agreement, the closing of the transactions contemplated hereby (the “Closing”) will occur on as soon as practicable and in no event later than the date three (3) Business Days
          after the date hereof (the “Closing Date”), unless otherwise agreed by the mutual consent of the Parties.  The Closing shall take place at the offices of NextDecade Corporation, 1000 Louisiana Street, Suite 3900, Houston, Texas 77002 or
          such other place as the Parties mutually agree.  The Parties agree that the Closing may occur via delivery of facsimiles or photocopies of the applicable Offering Documents. Unless otherwise provided herein, all proceedings to be taken and all
          documents to be executed and delivered by all Parties at the Closing will be deemed to have been taken and executed simultaneously, and no proceedings will be deemed to have been taken nor documents executed or delivered until all have been
          taken, executed and delivered.

       

      2.5     Rounding of Shares. The number of
          shares of Series C Preferred Stock issued to each Purchaser pursuant to the terms of this Agreement shall be rounded in accordance with the terms of the Certificate of Designations to avoid fractional shares.

       

      2.6      Actions at the Closing. At the
          Closing, each Purchaser and the Company (as applicable) shall take or cause to be taken the following actions (“Closing Actions”):

       

      
        9

        
          

      

      (a)           Payment of the Purchase Price.  Each Purchaser shall pay the applicable Purchase Price in respect of the shares purchased by such Purchaser pursuant to Section 2.1 to the Company by wire transfer of immediately available funds to the account
          specified by the Company to such Purchaser in writing not less than two (2) Business Days prior to the Closing.

       

      (b)          Issuance of Series C Preferred Stock. The Company shall deliver to each Purchaser a true, correct and complete certificate, or other applicable evidence of ownership acceptable to such Purchaser, representing the shares of Series C Preferred Stock purchased
          by such Purchaser pursuant to this Section 2, duly authorized by all requisite corporate action on the part of the Company, together with all instruments of transfer in respect of such Purchaser’s interests in such shares, and in the form
          required by the Certificate of Designations.

       

      (c)          Warrants.
          The Company shall deliver to each Purchaser the Warrants, duly authorized by all requisite corporate action on the part of the Company, together with all instruments of transfer in respect of such Purchaser’s interests in such Warrants.

       

      (d)          Registration Rights Agreement. 
          The Purchasers and the Company shall execute and deliver the Registration Rights Agreement.

       

      2.7     Transfer Taxes.  All of the Series C
          Preferred Stock issued to the Purchasers pursuant to this Agreement will be delivered with any and all issue, stamp, transfer or similar taxes or duties payable in connection with such delivery duly paid by the Company.

       

      Section 3.        REPRESENTATIONS AND WARRANTIES OF THE COMPANY.  The Company hereby represents and warrants to each Purchaser as of the date hereof
        and, with respect to the Fundamental Representations, as of the date hereof and as of the Closing Date (except for representations and warranties that are made as of a specific date, which are made only as of such date), on behalf of itself and not
        any other Party, as follows:

       

      3.1    Organization and Qualification; Subsidiaries. The Company and each of its Subsidiaries has been duly organized and is validly existing and, except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, is in good standing under the
          laws of its jurisdictions of organization, with the requisite power and authority to own its properties and conduct its business as currently conducted.

       

      3.2    Authorization; Enforcement; Validity. 

          The Company has all necessary corporate power and authority to enter into this Agreement and to carry out its obligations hereunder, including the issuance to the Purchaser of the Series C Preferred Stock and Warrants (and the Common Stock
          issuable upon the conversion or exercise of such Series C Preferred Stock and Warrants, as applicable) pursuant to Sections 2.1 and 2.3 of this Agreement.  The execution and delivery by the Company of this Agreement and the
          performance by the Company of its obligations hereunder, have been duly authorized by all requisite action on the part of the Company, and no other action on the part of the Company or any of its Subsidiaries is necessary to authorize the
          execution and delivery by the Company of this Agreement or the consummation of the transactions contemplated by this Agreement.  This Agreement has been duly executed and delivered by the Company, and assuming due authorization, execution and
          delivery by each Purchaser, this Agreement constitutes, as to each such Purchaser, the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, subject to bankruptcy, insolvency,
          reorganization, moratorium or similar Laws now or hereafter in effect relating to creditors’ rights generally and subject to general principles of equity.

       

      
        10

        
          

      

      3.3     No Conflicts.  Assuming that all
          consents, approvals, authorizations and other actions described in Section 3.4 have been obtained, and except as may result from any facts or circumstances relating solely to a Purchaser, the execution, delivery and performance by the
          Company of this Agreement and the consummation of the transactions contemplated hereby do not and will not: (a) violate, conflict with or result in the breach of the Charter Documents of the Company or any of its Subsidiaries; (b) conflict with
          or violate any Law or Order applicable to the Company or any of its Subsidiaries, or any of its or their respective assets or properties; or (c) violate, conflict with, result in any breach of, constitute a default (or event which with the giving
          of notice or lapse of time, or both, would become a default) under, require any consent under, or give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, any note, bond, mortgage or indenture,
          contract, agreement, lease, sublease, license, permit, franchise or other instrument or arrangement to which the Company or any of its Subsidiaries is a party or to which any of their respective assets or properties are subject, or result in the
          creation of any Encumbrance on any of their respective assets or properties, except, in the case of clauses (b) and (c), for any such conflict, violation, breach or default that would not reasonably be expected to have, individually or in the
          aggregate, a Material Adverse Effect.

       

      3.4     Consents and Approvals.  The
          execution, delivery and performance by the Company of this Agreement do not require any consent, approval, authorization or other Order of, action by, filing with or notification to, any Governmental Authority or any other Person under any of the
          terms, conditions or provisions of any Law or Order applicable to the Company or any of its Subsidiaries or by which any of its or their assets or properties may be bound, any contract or agreement to which the Company or any of its Subsidiaries
          is a party or by which the Company or any of its Subsidiaries may be bound, except for any consent, approval, authorization or other Order of, action by, filing with or notification to, any Governmental Authority or any other Person under any of
          the terms, conditions or provisions of any Law or Order applicable to the Company or any of its Subsidiaries that, if not made or obtained, would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

       

      3.5      Capitalization.

       

      (a)        As of the date of this Agreement, and immediately prior to
          the issuance and sale of the Series C Preferred Stock (including the associated Warrants), the capitalization of the Company and each of its Subsidiaries is set forth in Schedule 3.5(a).

       

      
        11

        
          

      

      (b)        Except as set forth in Schedule 3.5(b), there are
          no outstanding options, warrants, “phantom” stock rights, claims, calls, puts, convertible or exchangeable securities or other contracts or rights of any nature obligating the Company or any of its Subsidiaries to issue, return, redeem,
          repurchase, transfer, deliver or sell equity interests or other securities or ownership interests in the Company or any of its Subsidiaries, and no Person is entitled to any preemptive or similar right with respect to the issuance of securities
          or other equity interests in the Company or any of its Subsidiaries.

       

      (c)       Except as set forth in Schedule 3.5(c), (x) to the
          Knowledge of the Company, there are no voting agreements, voting trusts, shareholder agreements, proxies or other similar agreements or understandings with respect to the equity interests of the Company or any of its Subsidiaries or that restrict
          or grant any right, preference or privilege with respect to the transfer of such equity interests, and (y) there are no contracts to declare, make or pay any dividends or distributions, whether current or accumulated, or due or payable, on the
          equity interests of the Company or any of its Subsidiaries.

       

      (d)         Except as set forth in Schedule 3.5(d) and as
          contemplated by Section 5.5(c), the Company has no authorized or outstanding class of equity securities ranking as to dividends, redemption or distribution of assets upon a liquidation senior to or pari passu with the Series C Preferred
          Stock or that would otherwise constitute “Senior Stock” (as defined in the Certificate of Designations) or “Parity Stock” (as defined in the Certificate of Designations).

       

      3.6      Valid Issuance.

       

      (a)          Upon payment of the Purchase Price and the occurrence of
          the Closing, the Purchasers will be the owners, of record and beneficially, of 12,240 duly and validly issued, fully paid, and non-assessable shares of Series C Preferred Stock.  The Purchasers shall have good and valid title to such Series C
          Preferred Stock, free and clear of any Encumbrances.

       

      (b)         Assuming the accuracy of each Purchaser’s representations
          and warranties set forth herein, the offer, sale and issuance of such Series C Preferred Stock as contemplated hereby are exempt from the registration and qualification of the Securities Act and will be issued in compliance with all applicable
          federal and state securities and blue sky laws.  Neither the Company nor any Person acting on behalf of the Company has taken any action that would cause the loss of such exemption.

       

      
        12

        
          

      

      3.7      SEC Reports; Financial Statements.

       

      (a)        The Company has filed or furnished with the Securities and
          Exchange Commission (“SEC”) all forms, reports, schedules, proxy statements (collectively, and in each case including all exhibits and schedules thereto and documents incorporated by reference therein and including all registration
          statements and prospectuses filed with the SEC, the “SEC Reports”) required to be filed or furnished by the Company with the SEC since July 25, 2017.  As of its date of filing or furnishing, each SEC Report complied in all material
          respects with the requirements of the Exchange Act or the Securities Act, and none of such SEC Reports (including any and all financial statements included therein) contained when filed or furnished (except to the extent revised or superseded by
          a subsequent filing with the SEC that is publicly available prior to the date hereof) any untrue statement of a material fact or omitted or omits to state a material fact required to be stated therein or necessary to make the statements made
          therein, in light of the circumstances under which they were made, not misleading.

       

      (b)        Each of the consolidated financial statements (including
          the notes thereto) included in the SEC Reports (i) complied as to form required by published rules and regulations of the SEC related thereto as of its date of filing with the SEC, (ii) complied in all material respects with applicable accounting
          requirements and the published rules and regulations of the SEC with respect thereto, (iii) has been prepared in accordance with GAAP applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto or
          otherwise permitted by the SEC on Form 10-Q or any successor form under the Exchange Act) and (iv) presents fairly in all material respects the consolidated financial position of Company and its consolidated Subsidiaries as of the dates thereof
          and the consolidated results of their operations and cash flows for the periods then ended, subject (in the case of unaudited financial statements) to normal year-end adjustments and any other adjustments described therein or in the notes or
          schedules thereto or the absence of footnotes (none of which are material).

       

      (c)         The unaudited balance sheet and the related unaudited
          statement of operations and unaudited statement of cash flows for the Company’s most recently filed Quarterly Report on Form 10-Q as of the date of this Agreement (i) present fairly in all material respects the financial condition of the Company
          as of such date and the results of operations for the nine (9) month period then ended and (ii) were prepared on a basis consistent with the Company’s past practice, subject to normal year-end adjustments and the absence of footnotes.

       

      3.8     Undisclosed Liabilities. 
          Except as set forth in Schedule 3.8, and except for liabilities included or reserved for in the unaudited consolidated balance sheet of the Company or disclosed in the notes thereto included in the Company’s most recently filed Quarterly
          Report on Form 10-Q as of the date of this Agreement, neither the Company nor any of its Subsidiaries has incurred liabilities, including contingent liabilities, or any other obligations of a nature required to be disclosed on a consolidated
          balance sheet or in the notes thereto, except liabilities that are not material and were incurred in the ordinary course of business subsequent to the date of the consolidated balance sheet contained in the Company’s most recently filed Quarterly
          Report on Form 10-Q as of the date of this Agreement.

       

      
        13

        
          

      

      3.9     Contracts.  Except as set forth in Schedule

            3.9, neither the Company nor any of its Subsidiaries is, or to the Knowledge of the Company, is alleged to be (nor, to the Company’s Knowledge, is any other party to any Material Contract) in material default under, or in material breach or
          material violation of, any Material Contract, and no event has occurred which, with the giving of notice or passage of time or both, would constitute a material default by the Company or any other party under any Material Contract.  Other than
          Material Contracts which have terminated or expired in accordance with their terms, each of the Material Contracts is in full force and effect and is a legal, valid and binding obligation of the Company and, to the Knowledge of the Company, the
          other parties thereto enforceable against the Company and, to the Knowledge of the Company, such other parties in accordance with its terms (subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and
          other similar laws relating to or affecting creditors’ rights generally and general equitable principles (whether considered in a proceeding in equity or at law).

       

      3.10   Affiliate Transactions.  Except as
          set forth in Schedule 3.10, there are no transactions between the Company, on the one hand, and any (A) officer or director of the Company or any of its Subsidiaries, (B) to the Knowledge of the Company, record or beneficial owner of five
          (5) percent or more of the voting securities of the Company or (C) Affiliate or family member of any such officer or director or, to the Knowledge of the Company, record or beneficial owner, on the other hand, except employee benefit plans,
          executive compensation or director compensation, employment agreements, consulting agreements, indemnification agreements and similar transactions.  Neither the Company nor any of its Subsidiaries is a guarantor or indemnitor of any indebtedness
          of any of the persons set forth in the foregoing clause (A) or, to the Knowledge of the Company, clauses (B) through (C).

       

      3.11    Title. The Company and each of its
          Subsidiaries has good and marketable title to their respective owned properties and assets, and good leasehold title to their respective leasehold estates in leased properties and assets, in each case, subject to no Encumbrances, other than
          Encumbrances that would not reasonably be expected to result in, individually or in the aggregate, a Material Adverse Effect.

       

      3.12    Compliance with Law; Permits.

       

      (a)         Neither the Company nor any of its Subsidiaries (i) is in
          material violation or default of the Charter Documents of the Company or any of its Subsidiaries, (ii) is in violation or default of any Order or any Law, except for such violations and defaults that would not reasonably be expected to result in,
          individually or in the aggregate, a Material Adverse Effect or (iii) has received, since October 28, 2019, any written notice of, and to the Knowledge of the Company, no investigation or review is in process or threatened by any Governmental
          Authority with respect to, any material violation or alleged violation of any Order or Law.

       

      (b)          Except as set forth in Schedule 3.12(b) or as
          would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, (i) the Company and its Subsidiaries hold all Permits necessary for the lawful conduct of their respective businesses as they are
          presently being conducted, (ii) all Permits are in full force and effect, (iii) the Company and its Subsidiaries are in compliance with the terms of the Permits, (iv) there are no pending or, to the Knowledge of the Company, threatened,
          modifications, amendments, cancellations, suspensions, limitations, nonrenewals or revocations of any Permit, and (v) there has occurred no event which (whether with notice or lapse of time or both) could reasonably be expected to result in or
          constitute the basis for such a modification, amendment, cancellation, suspension, limitation, nonrenewal or revocation thereof.

       

      
        14

        
          

      

      3.13   Litigation.  Except as set forth in Schedule

            3.13, no action, suit, claim, demand, hearing, investigation or other proceeding is pending against the Company or any of its Subsidiaries, or, to the Knowledge of the Company, any officer, director, manager, member, shareholder or employee
          of any such Person, and none of the Company or any of its Subsidiaries, or, to the Knowledge of the Company, any officer, director, manager, member, shareholder or employee of any such Person, is subject to any outstanding injunction, judgment,
          order, decree, ruling or charge or, to the Knowledge of the Company, is threatened with being made a party to any action, suit, proceeding, hearing or investigation of, in, or before any Governmental Authority or before any arbitrator, all cases,
          that are required to be described in the SEC Reports but are not described as required in the SEC Reports, or that would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

       

      3.14   Intellectual Property.  The Company
          and its Subsidiaries own or have obtained valid and enforceable licenses for, or other legal and valid rights to use, the Intellectual Property necessary for the conduct of the business of the Company and its Subsidiaries as currently conducted,
          except as would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.  Neither the Company nor any of its Subsidiaries has received from any third party a claim in writing that the Company or any of its
          Subsidiaries is infringing in any material respect the Intellectual Property rights of any third party.

       

      3.15   Insurance.  Schedule 3.15
          sets forth a true, correct and complete list of all of the insurance maintained for or on behalf of the Company or any of its Subsidiaries and claims made to date. All premiums with respect to such policies have been paid to the extent due and
          payable.  No written notice of cancellation or termination has been received by the Company or any of its Subsidiaries with respect to any such policies that have not been replaced on substantially similar terms prior to the date of such
          cancellation or termination.

       

      3.16   Environmental Matters.  The Company
          and its Subsidiaries have at all times been in compliance in all material respects with all Environmental Laws.  To the Knowledge of the Company, there are no locations or premises where Hazardous Materials have been Released such that (A) the
          Company or any of its Subsidiaries would reasonably be expected to be obligated to remove, remediate or otherwise respond to pursuant to any Environmental Laws or (B) would reasonably be expected to result in a liability of the Company or any of
          its Subsidiaries to any Person under any Environmental Laws.  There are no Environmental Claims pending, or to the Knowledge of the Company threatened against the Company or any of its Subsidiaries, and there no actions, activities,
          circumstances, facts, conditions, events or incidents, including the presence of any Hazardous Material, which would be reasonably likely to form the basis of any such Environmental Claim.

       

      3.17   Company Benefits Plans.

       

      (a)           Schedule 3.17 lists each material Company Benefit Plan.

       

      
        15

        
          

      

      (b)         Neither the Company nor any of its ERISA Affiliates has
          ever maintained, sponsored, contributed to, or had an obligation to maintain, sponsor or contribute to, or has any liability under or with respect to (i) a “defined benefit plan,” as  defined in Section 3(35) of ERISA, (ii) a pension plan subject
          to the minimum funding standards of Section 302 of ERISA or Section 412 of the Code, (iii) a “multiemployer plan,” as defined in Section 3(37) of ERISA, (iv) a “multiple employer plan” (within the meaning of Section 413 of the Code), (v) a
          “voluntary employees’ beneficiary association” (within the meaning of Section 501(c)(9) of the Code), (vi) an organization or trust described in  Sections 501(c)(17) or 501(c)(20) of the Code or (vii) a “welfare benefits fund” described in 
          Section 419(e) of the Code. No current or former employee, officer, director, consultant or other service provider of the Company or any of its Subsidiaries is or may become entitled under any Company Benefit Plan to receive health, life
          insurance or other welfare benefits (whether or not insured), beyond their retirement or other termination of service, other than  health continuation coverage as required by Section 4980B of the Code.

       

      (c)        Each Company Benefit Plan has been administered in all
          material respects in accordance with its terms and applicable Law. Each Company Benefit Plan intended to be qualified under Section 401(a) of the Code has either received a favorable determination letter from the IRS or may rely on a favorable
          opinion letter issued by the IRS, and, to the Knowledge of the Company, nothing has occurred since the date of such determination or opinion letter that would reasonably be expected to adversely affect such qualification.

       

      (d)       Except as would not be reasonably likely to result in a
          Material Adverse Effect, there are no actions, suits, audits or investigations by any Governmental Authority or other claims (except for routine claims for benefits) pending or, to the Knowledge of the Company, threatened, against or involving
          any Company Benefit Plan.

       

      (e)        Neither the execution and delivery of this Agreement, nor
          the  consummation of the transactions contemplated hereby will (whether alone or upon the  occurrence of any additional or further acts or events) (i) result in any payment becoming due to any current or former employee, officer, director or
          independent contractor of the  Company or any Subsidiary thereof or satisfy any prerequisite (whether exclusive or non-exclusive) to any payment or benefit to any current or former employee, director or independent contractor of the Company or
          any Subsidiary thereof, (ii) increase any benefits  under any Company Benefit Plan, (iii) result in the acceleration of the time of payment,  vesting or funding of any such benefits under any Company Benefit Plan, or (iv) result in the
          forgiveness of any indebtedness of any current or former employee, officer, director or independent contractor of the Company or any Subsidiary thereof.

       

      3.18     Labor.

       

      (a)          Neither the Company nor any of its Subsidiaries is a party to any labor or
          collective bargaining agreement.

       

      
        16

        
          

      

      (b)        There are no (i) strikes, work stoppages, work slowdowns or
          lockouts pending or, to the Knowledge of the Company, threatened against or involving the Company or any of its Subsidiaries, or (ii) unfair labor practice charges, grievances or complaints pending or, to the Knowledge of the Company, threatened
          by or on behalf of any employee or group of employees of the Company or any of its Subsidiaries, except in each case as would not have a Material Adverse Effect.

       

      3.19    Tax Matters.  Except as set forth in
          Schedule 3.19:

       

      (a)         As of the date of this Agreement, the Company has timely
          filed all material Tax Returns required to be filed (after giving effect to any extensions that have been requested by and granted to such party by the applicable Governmental Authority) and has paid or caused to be paid on its behalf all Taxes
          due and owing, other than those (i) that are being contested in good faith and for which adequate reserves have been established in accordance with GAAP or (ii) that, if not paid, would not reasonably be expected to have, individually or in the
          aggregate, a Material Adverse Effect.  All such Tax Returns are true, correct and complete in all material respects.  There are no past, current, pending or, to the Knowledge of the Company, threatened audits, claims or proceedings by any
          Governmental Authority relating to Taxes.  The Company has not waived any statutes of limitation or agreed to any extension of time with respect to any Tax assessment or deficiency.  The Company has not received written notice from any
          Governmental Authority in a jurisdiction where it does not file Tax Returns claiming that it is subject to Tax in that jurisdiction.  There are no liens for Taxes against the property of the Company or the Project except for Taxes not yet due and
          payable.

       

      (b)         The Company has complied with all Laws relating to the
          withholding and collection of Taxes relating to the Company.  The Company has not engaged in any reportable transaction within the meaning of Treasury Regulations Section 1.6011-4(b).

       

      (c)          Neither the Company nor any of its Subsidiaries has made an election under
          Section 965(h) of the Code.

       

      (d)         The Company (A) has not entered into any agreement with
          any Governmental Authority that would impact the amount of Taxes due by it, (B) has never been a member of an affiliated, combined, consolidated or unitary group for purposes of filing any Tax Return or has any liability for the Taxes of any
          other Person (1) under Treasury Regulations Section 1.1502-6 (or any similar provision of state, local or foreign law), or (2) as a transferee or successor, by Contract, or otherwise, or (C) is not a party to, or has any liability under, any Tax
          sharing, Tax allocation, Tax indemnity, or similar agreement or arrangement.

       

      3.20    Investment Company Act. The Company
          is not and, after giving effect to the transactions contemplated by this Agreement will not be, an “investment company” as that term is defined in, nor is the Company otherwise subject to registration or regulation under, the Investment Company
          Act of 1940.

       

      
        17

        
          

      

      3.21   OFAC and Related Matters.  None of
          the transactions contemplated hereby will violate (i) any Sanctions, or (ii) the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, Public Law 107-56
          (October 26, 2001).  The Company is in compliance with Sanctions in all material respects.  There are no pending or threatened claims or legal actions, or investigations by any Governmental Authority, of or against the Company, nor are there any
          judgments imposed (or threatened to be imposed) upon the Company by or before any Governmental Authority, in each case, in connection with any alleged violation of Sanctions.  Neither the Purchase Price nor any other proceeds received by the
          Company hereunder will be used in any dealings or transactions with any Sanctioned Person or in any manner that will result in a violation of Sanctions. The Company has not violated any provision of the U.S. Foreign Corrupt Practices Act of 1977
          or the U.K. Bribery Act 2010.

       

      3.22   Broker; Fees.  Neither the Company
          nor any of its Subsidiaries has employed any broker or finder, or incurred any liability for any brokerage or finders’ fees or any similar fees or commissions in connection with the transactions contemplated by this Agreement for which any
          Purchaser is liable.

       

      Section 4.       REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS.  Each Purchaser, severally and not jointly, represents and warrants to the Company
        as of the date hereof and, with respect to the Fundamental Representations, as of the date hereof and as of the Closing Date (except for representations and warranties that are made as of a specific date, which are made only as of such date), as
        follows:

       

      4.1      Organization and Qualification. 
          Such Purchaser has been duly organized and is validly existing and, except as would not reasonably be expected to have, individually or in the aggregate, a Purchaser Material Adverse Effect, is in good standing under the laws of its jurisdiction
          of organization, with the requisite power and authority to own its properties and conduct its business as currently conducted.

       

      4.2    Authorization; Enforcement; Validity. 

          Such Purchaser has all necessary corporate, limited liability company or equivalent power and authority to enter into this Agreement and to carry out, or cause to be carried out, its obligations hereunder in accordance with the terms hereof.  The
          execution and delivery by such Purchaser of this Agreement and the performance by such Purchaser of its obligations hereunder have been duly authorized by all requisite action on the part of such Purchaser, and no other action on the part of such
          Purchaser is necessary to authorize the execution and delivery by such Purchaser of this Agreement or the consummation of the transactions contemplated by this Agreement.  This Agreement has been duly executed and delivered by such Purchaser, and
          assuming due authorization, execution and delivery by the Company, this Agreement constitutes the legal, valid and binding obligation of such Purchaser, enforceable against such Purchaser in accordance with its terms, subject to bankruptcy,
          insolvency, reorganization, moratorium or similar Laws now or hereafter in effect relating to creditors’ rights generally and subject to general principles of equity.

       

      
        18

        
          

      

      4.3    No Conflicts.  The execution,
          delivery, and performance by such Purchaser of this Agreement do not and will not (a) violate any provision of the organizational documents of such Purchaser; (b) conflict with or violate any Law or Order applicable to such Purchaser or any of
          its respective assets or properties; or (c) violate, conflict with, result in any breach of, constitute a default (or event which with the giving of notice or lapse of time, or both, would become a default) under, require any consent under, or
          give to others any rights of termination, amendment, acceleration, suspension, revocation or cancellation of, any note, bond, mortgage or indenture, contract, agreement, lease, sublease, license, permit, franchise or other instrument or
          arrangement to which such Purchaser is a party or to which any of its assets or properties are subject, or result in the creation of any Encumbrance on any of its assets or properties, except, in the case of clauses (b) and (c), for any such
          conflict, violation, breach or default that would not reasonably be expected to have, individually or in the aggregate, a Purchaser Material Adverse Effect.

       

      4.4     Consents and Approvals.  The
          execution, delivery and performance by such Purchaser of this Agreement do not require such Purchaser to obtain any consent, approval, authorization or other Order of, action by, filing with or notification to, any Governmental Authority or any
          other Person under any of the terms, conditions or provisions of any Law or Order applicable to such Purchaser or by which any of its assets or properties may be bound, any contract to which such Purchaser is a party or by which such Purchaser
          may be bound, except for any consent, approval, authorization or other Order of, action by, filing with or notification to, any Governmental Authority or any other Person under any of the terms, conditions or provisions of any Law or Order
          applicable to such Purchaser that, if not made or obtained, would not reasonably be expected to have, individually or in the aggregate, a Purchaser Material Adverse Effect with respect to such Purchaser.

       

      4.5     Purchaser Representation.  (i) Such
          Purchaser is either (A) a qualified institutional buyer as defined in Rule 144A of the Securities Act, (B) an accredited investor as defined in Rule 501(a)(1), (2), (3), (7) or (8) under the Securities Act, (C) a non‐U.S. person under Regulation
          S under the Securities Act, or (D) the foreign equivalent of (A) or (B) above, and (ii) any securities of the Company acquired by such Purchaser under this Agreement will have been acquired for investment and not with a view to distribution or
          resale in violation of the Securities Act.

       

      4.6    Sufficient Funds.  Such Purchaser has
          sufficient assets (or the ability to call sufficient capital from its equityholders) and the financial capacity to perform all of its obligations under this Agreement, including the ability to fully fund its respective portion of the Purchase
          Price at the Closing.

       

      Section 5.        ADDITIONAL COVENANTS.

       

      5.1     Commercially Reasonable Efforts. 
          Each of the Company and each Purchaser hereby agrees to use its commercially reasonable efforts to timely satisfy (if applicable) each of the conditions applicable to such Party under Sections 6 and 7, respectively, of this
          Agreement.

       

      
        19

        
          

      

      5.2     Further Assurances.  Each Party
          shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all such other agreements, certificates, instruments and documents, as the other Party may reasonably request to carry out
          the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

       

      5.3     Use of Proceeds. The Company shall
          use the proceeds from the transactions contemplated hereby solely as provided for in Exhibit E to this Agreement.

       

      5.4    Expenses.  The Company shall bear all
          of its own expenses in connection with the execution, delivery and performance of this Agreement and the transactions contemplated hereby, including without limitation all fees and expenses of its agents, representatives, counsel and accountants.

       

      5.5     Conduct of the Business of Company. 
          From the date hereof until the Closing Date, except (a) as expressly permitted by this Agreement, (b) as required by Law, or (c) with the written consent of the Purchasers (such consent not to be unreasonably withheld, conditioned or delayed),
          the Company shall conduct its business and operations in the ordinary course of business consistent with past practice and use commercially reasonable efforts to (i) preserve intact its present business organization; (ii) maintain good
          relationships with its vendors, suppliers, and others having material business relationships with it; and (iii) manage its working capital in the ordinary course of business consistent with past practice. Without limiting the generality of the
          foregoing, and, except as contemplated in this Agreement or as described in Schedule 5.5, during the period from the date of this Agreement through the Closing Date, without the prior written consent of the Purchasers (which consent shall
          not be unreasonably withheld or delayed), the Company shall not, and shall not permit any of its Subsidiaries to:

       

      (a)          amend any of its Charter Documents;

       

      (b)          split, combine, subdivide or reclassify any of its equity securities;

       

      (c)          authorize, sell, issue or grant any equity securities or
          sell, issue or grant any option, warrant or right to acquire any equity securities or sell, issue or grant any security convertible into or exchangeable for equity securities, or sell, transfer or dispose of, or grant or permit any Encumbrance
          on, any equity interest;

       

      (d)         except as required pursuant to applicable Law or the terms
          of any Company Benefit Plan in existence as of the date hereof, (A) make or grant any increases in  the compensation or fringe benefits of any current or former employee or service provider of the Company or its Subsidiaries except in the
          ordinary course of business consistent with past practice (x) for current employees whose annual base salary or annual fee is less than  $150,000 or (y) in respect of fringe benefits, increases in fringe benefits that do not result in a material
          increase in cost to the Company or its Subsidiaries; (B) take any action to  accelerate the vesting or payment of any compensation or benefits under any Company Benefit Plan or any action to fund or secure the payment of compensation or benefits
          under any Company Benefit Plan; (C) amend, adopt or terminate any Company Benefit Plan other than in connection with routine, immaterial or ministerial amendments to health and welfare  plans that do not materially increase benefits or result in
          a material increase in  administrative costs; or (D) enter into, modify or terminate any collective  bargaining agreement or other agreement or arrangement with any labor union, works  council, labor organization or other employee-representative
          body.

       

      
        20

        
          

      

      (e)        declare, set aside for payment or pay any dividend on, or
          make any other distribution in respect of its equity interests or otherwise make any payments to any holder of such interests in its capacity as such except in accordance with the terms of the Certificate of
            Designations of Series A Convertible Preferred Stock and the Certificate of Designations of Series B Convertible Preferred Stock;

       

      (f)           take or fail to take any action the result of which would cause the
          creation of an Encumbrance on any of its equity interests;

       

      (g)          make any material change to its financial reporting and accounting methods
          other than as required by a change in GAAP;

       

      (h)         make any material change in its Tax reporting or Tax
          accounting methods, including making or changing any material Tax elections except as required by applicable Law;

       

      (i)          acquire any Person or other business organization,
          division or business by merger, consolidation, purchase of an equity interest or assets, or by any other manner;

       

      (j)           take any action to liquidate, dissolve, or wind up its business;

       

      (k)        take any action that would require the consent of the
          Purchasers as the holder of the Series C Preferred Stock pursuant to the Certificate of Designations if such action were to occur after the Closing; or

       

      (l)           commit itself to do any of the foregoing.

       

      5.6     Public Announcements.  No
          press release or other public announcement related to this Agreement or the transactions contemplated herein shall be issued or made without the joint approval of the Company and each of the Purchasers, unless such release or announcement is
          required by law or the rules of any securities exchange on which securities of the Company are traded (including, for the avoidance of doubt, any Current Report on Form 8-K required to be filed by the Company with the SEC describing this
          Agreement or the transactions contemplated herein), in which case each of the Purchasers shall be afforded a reasonable opportunity to review such public announcement prior to publication.

       

      
        21

        
          

      

      Section 6.        CONDITIONS TO EACH PURCHASER’S OBLIGATIONS.  The obligations of each Purchaser to consummate the transactions contemplated hereby
        pursuant to this Agreement on the Closing Date shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any one or more of which may be waived in writing by the Purchasers:

       

      6.1     Fundamental Representations and Warranties.  All of the Fundamental Representations made by the Company in this Agreement shall be true and correct in all respects as of the Closing Date as though made on and as of the Closing Date (except to the extent such representations and
          warranties expressly speak as of an earlier date, in which case such representations and warranties shall be true and correct as of such date).

       

      6.2     Performance of Closing Actions.  The
          Company shall have performed each of the Closing Actions required to be performed by them at the Closing.

       

      6.3     No Legal Impediment to Issuance; No Material Adverse Effect. No Law or Order shall have become effective or been enacted, adopted or issued by any Governmental Authority that prohibits the implementation of this Agreement or the transactions contemplated herein, and no Material
          Adverse Effect shall have occurred.

       

      Section 7.       CONDITIONS TO THE COMPANY’S OBLIGATIONS.  The obligations of the Company to issue and sell to the Purchasers the Series C Preferred
        Stock (including the Warrants) pursuant to this Agreement shall be subject to the satisfaction at or prior to the Closing Date of each of the following conditions, any one or more of which may be waived in writing by the Company:

       

      7.1     Fundamental Representations and Warranties.  All of the Fundamental Representations made by the Purchasers in this Agreement shall be true and correct in all respects as of the Closing Date as though made on and as of the Closing Date (except to the extent such representations and
          warranties expressly speak as of an earlier date, in which case such representations and warranties shall be true and correct as of such date).

       

      7.2     Performance of Closing Actions. 
          Each Purchaser shall have performed each of the Closing Actions required to be performed by it at the Closing.

       

      7.3     No Legal Impediment to Issuance. No
          Law or Order shall have become effective or been enacted, adopted or issued by any Governmental Authority that prohibits the implementation of this Agreement or the transactions contemplated by this Agreement.

       

      Section 8.        TERMINATION.

       

      (a)         Termination by the Purchasers.  This Agreement may be terminated at any time prior to the Closing by the Purchasers following the occurrence of any of the following events (each a “Purchaser Termination Event”) immediately upon delivery of
          written notice to the Company; provided, however that the Purchasers shall not be permitted to terminate this Agreement if at the time of such termination any
          Purchaser is in breach of any representation, warranty or covenant applicable to it in any material respect under this Agreement:

       

      
        22

        
          

      

      (i)              the failure of any of the conditions set forth in Section 6
          hereof to be satisfied, which failure cannot be cured or is not cured before the earlier of (A) fifteen (15) Business Days after receipt of written notice thereof by the Company from any Purchaser and (B) the Closing Date;

       

      (ii)            the Company breaches any representation or warranty or breaches any
          covenant applicable to it in any material respect under this Agreement and if such breach is curable, it is not cured before the earlier of (A) fifteen (15) Business Days after receipt of written notice by the Company from any Purchaser and (B)
          the Closing Date; or

       

      (iii)             any Governmental Authority of competent jurisdiction, enters a Final
          Order declaring this Agreement or any material portion hereof to be unenforceable.

       

      (b)          Termination by the Company.  This Agreement may be terminated at any time prior to the Closing by the Company following the occurrence of any of the following events immediately upon delivery of written notice to the Parties except as set forth
          below; provided, however that the Company shall not be permitted to terminate this Agreement if, at the time of such termination, the Company is in breach of any
          representation, warranty or covenant applicable to it in any material respect under this Agreement:

       

      (i)              the failure of any of the conditions set forth in Section 7
          hereof to be satisfied, which failure cannot be cured or is not cured before the earlier of (A) fifteen (15) Business Days after receipt of written notice thereof by the Purchasers from the Company and (B) the Closing Date;

       

      (ii)            a Purchaser breaches any representation or warranty or breaches any
          covenant applicable to it in any material respect under this Agreement and if such breach is curable, it is not cured before the earlier of (A) fifteen (15) Business Days after receipt of written notice by the Purchasers from the Company and (B)
          the Closing Date;

       

      (iii)             any Governmental Authority of competent jurisdiction, enters a Final
          Order declaring this Agreement or any material portion hereof to be unenforceable; or

       

      (iv)             the Closing does not occur on or before the Closing Date.

       

      (c)         Purchaser Default. Subject to Section 10.19, the Purchasers agree that, in the event of a Purchaser Default, the Company shall be entitled to all remedies available at law and at equity, including to enforce rights of damages and/or specific
          performance pursuant to Section 10.18.

       

      (d)         Mutual Termination.  This
          Agreement may be terminated by the mutual written consent of the Company and the Purchasers.

       

      
        23

        
          

      

      (e)         Effect of Purchaser Termination.  Upon a termination of this Agreement in accordance with Section 8(a), the Purchasers shall have no continuing liability or obligation to the Company and the provisions of this Agreement shall have no further
          force or effect with respect to the Purchasers, except for the provisions in Sections 8, 9, and 10, each of which shall survive termination of this Agreement; provided, however, that no such termination shall relieve the Purchasers from liability for its breach or non-performance of its obligations hereunder prior to the date of such termination and the rights of the Company
          as it relates to such breach or non-performance by the Purchasers shall be preserved in the event of the occurrence of such breach or non-performance.

       

      (f)         Effect of Company or Mutual Termination.  Upon a termination of this Agreement in accordance with Sections 8(b) or 8(d), neither Party shall have any continuing liability or obligation to the other Party hereunder and the provisions of this
          Agreement shall have no further force or effect except for the provisions in Sections 8, 9, and 10, each of which shall survive termination of this Agreement; provided that no such
          termination shall relieve either Party from liability for its breach or non-performance of its obligations hereunder prior to the date of such termination and the rights of the other Party as it relates to such breach or non-performance by the
          Party shall be preserved in the event of the occurrence of such breach or non-performance.

       

      Section 9.       INDEMNIFICATION.  The Company agrees to indemnify and hold harmless the Indemnified Parties from and against any and all claims,
        damages, losses, liabilities and expenses (including, without limitation, fees and disbursements of counsel), that may be incurred by or asserted or awarded against any Indemnified Party, in each case arising out of this Agreement (including as a
        result of any breach or inaccuracy of any representation, warranty or covenant herein), the other Offering Documents, or the transactions contemplated hereby or thereby, solely to the extent such Offering Documents or transactions contemplated
        thereby relate to this Agreement and the Series C Preferred Equity Offering, any use made or proposed to be made with the proceeds of the Series C Preferred Equity Offering, or any claim, litigation, investigation or proceeding relating to any of
        the foregoing, regardless of whether any Indemnified Party is a party thereto, and the Company shall reimburse each Indemnified Party upon demand for reasonable and documented fees and expenses of counsel (which, so long as there are no conflicts
        among such Indemnified Parties, shall be limited to one law firm serving as counsel for the Indemnified Parties) and other expenses incurred by it in connection with investigating, preparing to defend or defending, or providing evidence in or
        preparing to serve or serving as a witness with respect to, any lawsuit, investigation, claim or other proceeding relating to any of the foregoing, irrespective of whether the transactions contemplated hereby are consummated, except to the extent
        such claim, damage, loss, liability, or expense is found in a Final Order to have resulted from such Indemnified Party’s bad faith, actual fraud, gross negligence, or willful misconduct.  No Indemnified Party shall have any liability (whether
        direct or indirect, in contract, tort or otherwise) to the Company for or in connection with the transactions contemplated hereby, except to the extent such liability is found in a final, non-appealable order of a court of competent jurisdiction to
        have resulted from such Indemnified Party’s bad faith, actual fraud, gross negligence or willful misconduct.  In no event, however, shall the Company or any Indemnified Party be liable on any theory of liability for any special, indirect,
        consequential or punitive damages.  Without the prior written consent of the Indemnified Parties, the Company agrees that it will not enter into any settlement of any lawsuit, claim or other proceeding arising out of this Agreement, the other
        Offering Documents, or the transactions contemplated hereby or thereby, solely to the extent such Offering Documents or transactions contemplated thereby relate to this Agreement and the Series C Preferred Equity Offering, unless such settlement
        (i) includes an explicit and unconditional release from the party bringing such lawsuit, claim or other proceeding of all Indemnified Parties and (ii) does not include a statement as to or an admission of fault, culpability, or a failure to act by
        or on behalf of any Indemnified Party.  No Indemnified Party shall be liable for any damages arising from the use by unauthorized persons of any information made available to the Indemnified Parties by the Company or any of its representatives
        through electronic, telecommunications or other information transmission systems that is intercepted by such persons.  No Indemnified Party shall settle any lawsuit, claim, or other proceeding arising out of this Agreement, the other Offering
        Documents, or the transactions contemplated hereby or thereby without the prior written consent of the Company (such consent not to be unreasonably withheld or delayed).  Notwithstanding the foregoing, an Indemnified Party shall be entitled to no
        indemnification by the Company for any claim, damage, loss, liability, or expense incurred by or asserted or awarded against such Indemnified Party for any violation of Law by such Indemnified Party.

       

      
        24

        
          

      

      Section 10.       MISCELLANEOUS.

       

      10.1  Payments.  All payments made by or on
          behalf of the Company or any of their Affiliates to the Purchaser or its assigns, successors or designees pursuant to this Agreement shall be without withholding, set-off, counterclaim or deduction of any kind.

       

      10.2   Arm’s Length Transaction.  The
          Company acknowledges and agrees that (i) the Series C Preferred Equity Offering and any other transactions described in this Agreement are an arm’s-length commercial transaction between the Parties and (ii) no Purchaser has assumed nor will it
          assume an advisory or fiduciary responsibility in the Company’s favor with respect to any of the transactions contemplated by this Agreement or the process leading thereto, and no Purchaser has any obligation to the Company with respect to the
          transactions contemplated by this Agreement except those obligations expressly set forth in this Agreement or the Offering Documents to which it is a party.

       

      10.3   Survival.  The representations,
          warranties, covenants, agreements and obligations of the Parties shall survive the Closing as follows (each such survival period, a “Survival Period”): (i) except for Fundamental Representations and the Tax Representations, the
          representations and warranties made by each Party in this Agreement shall survive the Closing until the first anniversary of the Closing; (ii) Fundamental Representations shall survive the Closing until the fifth anniversary of the Closing, (iii)
          Tax Representations shall survive the Closing for the full period of all applicable statutes of limitations related thereto (after giving effect to any waiver or extension thereof), and (iv) the covenants, agreements, obligations and other
          undertakings of the Parties shall survive the Closing until fully performed in accordance with their terms.  All liability of the Indemnifying Parties with respect to the representations, warranties, covenants, agreements and obligations
          hereunder shall be extinguished at the end of the applicable Survival Period, except to the extent that notice of an alleged breach of such representations, warranties, covenants, agreements or obligations has been provided before such date;
          provided that if notice is given prior to the expiration of the applicable Survival Period, the claim with respect to such representation, warranty, covenant, agreement or obligation shall continue indefinitely until finally resolved.

       

        

      
        25

        
          

      

      
        10.4   No Waiver of Rights.  All waivers
            hereunder must be made in writing, and the failure of any Party at any time to require another Party’s performance of any obligation under this Agreement shall not affect the right subsequently to require performance of that obligation.  Any
            waiver of any breach of any provision of this Agreement shall not be construed as a waiver of any continuing or succeeding breach of such provision or a waiver or modification of any other provision.

         

      

      10.5   Notices.  All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given or made (and shall be deemed to have
        been duly given or made upon receipt) by delivery in person, by an internationally recognized overnight courier service, by email or registered or certified mail (postage prepaid, return receipt requested) to the respective Parties at the following
        addresses (or at such other address for any Party as shall be specified by such Party in a notice given in accordance with this Section 10.5). 

       

       

      
        	 	
                (a)

              	
                If to the Company, to:

              

      

       

      NextDecade Corporation

      1000 Louisiana Street, Suite 3900

      Houston, Texas 77002

      Attention:         Krysta De Lima, General Counsel

      krysta@next-decade.com

      

      

      With a copy (which shall not constitute notice to the Company) to:

      

      

      K&L Gates LLP

      300 South Tryon Street, Suite 1000

      Charlotte, North Carolina 28202

      Attention:         Sean M. Jones

      Sean.Jones@klgates.com

      

      

      
        	 	
                (b)

              	
                If to the Purchasers, to the addresses set forth with respect to each such Purchaser on Exhibit G.

              

      

       

      Any of the foregoing addresses may be changed by giving notice of such change in the foregoing manner, except that notices for changes of address shall be effective only upon receipt.

       

      10.6   Headings.  The section and subsection
          headings in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Agreement.

       

        

      
        26

        
          

      

      
        10.7   Severability.  If any term or other
            provision of this Agreement is invalid, illegal or incapable of being enforced by any Law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect for so long as the economic or legal
            substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall
            negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to
            the greatest extent possible.

        

        
          10.8   Entire Agreement. This Agreement and the agreements and documents
              referenced herein constitute the entire agreement of the Parties with respect to the subject matter hereof and supersede all prior agreements and undertakings, both written and oral, between the Parties with respect to the subject matter
              hereof.

           

            

        

      

      10.9   Successors and Assigns.  This
          Agreement shall be binding upon and inure to the benefit of the Parties and their respective successors and permitted assigns.  Except as set forth below, neither this Agreement nor any of the rights, interests or obligations under this Agreement
          may be assigned by either Party (whether by operation of law or otherwise) without the prior written consent of the other Party.  Notwithstanding the foregoing and subject to the restriction on transfer contained in Section 10.10, the
          rights, obligations and interests hereunder and the shares of Series C Preferred Stock purchased hereunder may be assigned, delegated or transferred, in whole or in part, by a Purchaser to (i) any Affiliate of such
          Purchaser without the consent of the Company or (ii) one or more other third parties with the consent of the Company, which consent shall not be unreasonably withheld or delayed; provided, however, that any such transferee, as a condition precedent to such transfer, becomes a Party to this Agreement and assumes the obligations of such Purchaser with respect to the transferred shares under this
          Agreement by executing an addendum substantially in the form set forth in Exhibit A (the “Addendum”) and an assumption agreement in substantially the form set forth in Exhibit B hereto (the “Assumption Agreement”)
          and deliver the same to the Company in accordance with Section 10.5, and provided, further, that (a) with respect to a transfer to an Affiliate of a
          Purchaser, such Purchaser either (i) shall have provided an adequate equity support letter or a guarantee of such Affiliate-transferee’s obligations, in form and substance reasonably acceptable to the Company or (ii) shall remain fully obligated
          to fund the Purchase Price and (b) with respect to a transfer to a third party, the Company, acting in good faith, shall have consented in writing to such transfer (which consent shall not be unreasonably withheld, conditioned or delayed) and
          shall have determined, in its reasonable discretion, after due inquiry and investigation, that such transferee is reasonably capable of fulfilling such obligations, or, absent such a determination, the proposed transferee shall have deposited
          with an agent of the Company or into an escrow account under arrangements satisfactory to the Company funds sufficient, in the reasonable determination of the Company, to satisfy such proposed transferee’s obligations.  Any transfer that is made
          in violation of the immediately preceding sentence shall be null and void ab initio, and the Company shall have the right to enforce the voiding of such transfer.

       

        

      
        27

        
          

      

      
        10.10 Limitations on Transfer of Series C Preferred Stock.  THE SERIES C PREFERRED STOCK (INCLUDING ANY SERIES C PREFERRED STOCK ISSUED IN RESPECT OF DIVIDEND PAYMENTS THEREON) SHALL NOT BE TRANSFERRED BY ANY PURCHASER TO ANY OTHER PERSON WITHOUT THE CONSENT OF THE COMPANY,
            WHICH CONSENT SHALL NOT BE UNREASONABLY WITHHELD OR DELAYED, EXCEPT THAT, SUBJECT TO SECTION 10.9, ANY PURCHASER SHALL BE ENTITLED TO TRANSFER ANY OR ALL SHARES OF ITS SERIES C PREFERRED STOCK TO ANY AFFILIATE OF ANY PURCHASER.

         

        10.11  No Third-Party Beneficiaries.  This
            Agreement shall be binding upon and inure solely to the benefit of the Parties and their respective successors and permitted assigns and, except as expressly set forth in Section 9, nothing herein, express or implied, is intended to or
            shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever.

         

          

      

      10.12  Amendment.  This Agreement may not be
          altered, amended, or modified except by a written instrument executed by or on behalf of the Company and the Purchasers.

       

      10.13  Governing Law.  This Agreement shall
          be interpreted, construed and enforced in accordance with the laws of the State of New York, without regard to the conflicts of law principles thereof.

       

      10.14  Consent to Jurisdiction.  Each of the
          Parties (a) irrevocably and unconditionally agrees that any actions, suits or proceedings, at law or equity, arising out of or relating to this Agreement or any agreements or transactions contemplated hereby shall be heard and determined by the
          federal or state courts located in New York County in the State of New York; (b) irrevocably submits to the jurisdiction of such courts in any such action, suit or proceeding; (c) consents that any such action, suit or proceeding may be brought
          in such courts and waives any objection that such Party may now or hereafter have to the venue or jurisdiction of such courts or that such action or proceeding was brought in an inconvenient forum; and (d) agrees that service of process in any
          such action, suit or proceeding may be effected by providing a copy thereof by any of the methods of delivery permitted by Section 10.5 to such Party at its address as provided in Section 10.5 (provided that nothing herein shall
          affect the right to effect service of process in any other manner permitted by Law).

       

      10.15 Waiver of Jury Trial.  EACH OF THE
          PARTIES HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE
          TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT, OR ANY OTHER THEORY).  EACH OF THE PARTIES HERETO HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT
          SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS, AS APPLICABLE, BY, AMONG
          OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 10.14.

       

        

      
        28

        
          

      

      
        10.16  Currency.  Unless otherwise
            specified in this Agreement, all references to currency, monetary values and dollars set forth herein shall mean United States (U.S.) dollars and all payments hereunder shall be made in United States dollars.

         

        10.17 Counterparts.  This Agreement may be
            executed and delivered (including by facsimile or electronic transmission) in one or more counterparts, and by the different Parties in separate counterparts, each of which when executed shall be deemed to be an original, but all of which taken
            together shall constitute one and the same agreement.  Signatures of the Parties transmitted by electronic mail shall be deemed to be their original signatures for all purposes.

         

      

      10.18  Specific Performance.  Each
          Party acknowledges that, in view of the uniqueness of the securities referenced herein and the transactions contemplated by this Agreement, the other Party would not have an adequate remedy at law for money damages in the event that this
          Agreement has not been performed in accordance with its terms, and therefore agrees that the other Party shall be entitled to specific performance and injunctive or other equitable relief, without the necessity of proving the inadequacy of
          monetary damages as a remedy.

       

      10.19 Waiver of Consequential Damages. 
          Notwithstanding any provision in this Agreement to the contrary, in no event shall any Party or its Affiliates, or their respective managers, members, shareholders or representatives, be liable hereunder at any time for punitive, incidental,
          consequential special or indirect damages, including loss of future profits, revenue or income, or loss of business reputation of any other Party or any of its Affiliates, whether in contract, tort (including negligence), strict liability or
          otherwise, and each Party hereby expressly releases each other Party, its Affiliates, and their respective managers, members, shareholders, partners, consultants, representatives, successors and assigns therefrom.

       

      10.20 Purchaser Obligations.  The Parties hereby agree and acknowledge that (a) all obligations of the Purchasers hereunder, including with respect to each
        Purchaser’s compliance with all applicable covenants and the making by each Purchaser of the representations and warranties set forth in Section 4, are several and not joint and (b) no Purchaser shall have any obligation or liability of any
        kind to the Company or to any other Person in respect of any breach or noncompliance with respect to this Agreement by any other Purchaser.

       

      10.21  Rules of Construction.  The Parties
          and their respective legal counsel participated in the preparation of this Agreement, and therefore, this Agreement shall be construed neither against nor in favor of any of the Parties, but rather in accordance with the fair meaning thereof. All
          definitions set forth in this Agreement are deemed applicable whether the words defined are used in this Agreement in the singular or in the plural, and correlative forms of defined terms have corresponding meanings.  The term “including” is not
          limiting and means “including without limitation.”  The term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” The words “hereof,” “herein,” “hereby,” “hereunder” and similar terms in this
          Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.  Section, subsection, clause, schedule, annex and exhibit references are to this Agreement unless otherwise specified.  Any reference to this
          Agreement shall include all alterations, amendments, changes, extensions, modifications, renewals, replacements, substitutions, and supplements thereto and thereof, as applicable.  Whenever the context may require, any pronoun includes the
          corresponding masculine, feminine and neuter forms.

       

      [No further text appears; signature pages follow]

       

      
        29

        
          

      

      IN WITNESS WHEREOF, the Parties have executed this Agreement as of the day and year first above written.

       

      	 	
              NEXTDECADE CORPORATION

            
	 	 
	 	
              By:

            	/s/ Matthew Schatzman
	 	
              Name: Matthew Schatzman

            
	 	
              Title: Chief Executive Officer

            

      

      

      
        
          

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK CAPITAL MANAGEMENT, L.P.

            	 
	 	 	 
	 	
              By:

            	               

            	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK MULTI-STRATEGY MASTER FUND, L.P.

            	 
	 	 	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	Title:	 	 

      

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK CREDIT OPPORTUNITIES FUND, L.P.

            	 
	 	 	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK CREDIT OPPORTUNITIES INVESTMENTS MASTER FUND, L.P.

            	 
	 	
              

              

            	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK EUROPEAN DISTRESSED ASSET FUND II, L.P.

            	 
	 	 	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      
        
          

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK TACTICAL ENERGY FUND, L.P.

            	 
	 	 	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      	 	
              PURCHASER

            	 
	 	 	 
	 	
              YORK TACTICAL ENERGY FUND PIV-AN, L.P.

            	 
	 	 	 
	 	
              By:

            	               	 

      	 	
              Name:

            	               	 
	 	
              Title:

            	 	 

      

      

      
        
          

      

      Schedule A

       

      	
              Purchaser

            	 	
              Number of Shares to be Purchased

            	 	 	
              Aggregate Purchase Price

            	 	 	
              Origination Fee Shares

            	 
	
              York Capital Management, L.P.

            	 	 	
              863

            	 	 	
              $

            	
              863,000

            	 	 	 	
              17

            	 
	
              York Multi-Strategy Master Fund, L.P.

            	 	 	
              1,137

            	 	 	
              $

            	
              1,137,000

            	 	 	 	
              23

            	 
	
              York Credit Opportunities Fund, L.P.

            	 	 	
              1,400

            	 	 	
              $

            	
              1,400,000

            	 	 	 	
              28

            	 
	
              York Credit Opportunities Investments Master Fund, L.P.

            	 	 	
              1,600

            	 	 	
              $

            	
              1,600,000

            	 	 	 	
              32

            	 
	
              York European Distressed Asset Fund II, L.P.

            	 	 	
              2,000

            	 	 	
              $

            	
              2,000,000

            	 	 	 	
              40

            	 
	
              York Tactical Energy Fund, L.P.

            	 	 	
              1,667

            	 	 	
              $

            	
              1,666,667

            	 	 	 	
              33

            	 
	
              York Tactical Energy Fund PIV-AN, L.P.

            	 	 	
              3,333

            	 	 	
              $

            	
              3,333,333

            	 	 	 	
              67

            	 
	
              TOTAL

            	 	 	
              12,000

            	 	 	
              $

            	
              12,000,000

            	 	 	 	
              240

            	 

      

      

      
        
          

      

      Exhibit A

       

      ADDENDUM

       

      Reference is made to that certain Series C Convertible Preferred Stock Purchase Agreement (as amended, modified or supplemented from time to time, the “Agreement”) by and between NextDecade
        Corporation, a Delaware corporation (“NextDecade”), and [●], a [●], or a successor thereof.  Each capitalized term used but not defined herein shall have the meaning given to it in the Agreement.

       

      Upon execution and delivery of this Addendum by the undersigned, as provided in Section 10.9 of the Agreement, the undersigned hereby becomes a Purchaser with respect to [●] shares of
        Series C Preferred Stock, as applicable thereunder and bound thereby effective as of the date of the Agreement.

       

      By executing and delivering this Addendum, the undersigned represents and warrants, for itself and for the benefit of the Company, that:

       

      (a)      as of the date of this Addendum, the undersigned has executed and delivered an Assumption and Joinder Agreement therefor (a copy of which is attached to this Addendum);

       

      (b)     as of the date of this Addendum, with respect to each transferee that (i) is an individual, such transferee has all requisite authority to enter into this Addendum and to carry out the
        transactions contemplated by, and perform its respective obligation under, the Agreement and (ii) is not an individual, such transferee is duly organized, validly existing, and in good standing under the laws of the state of its organization, and
        has all requisite corporate, partnership, or limited liability company power and authority to enter into this Addendum and to carry out the transactions contemplated by, and perform its respective obligations under, the Agreement;

       

      (c)     assuming the due execution and delivery of the Agreement by NextDecade, the Addendum and the Agreement are legally valid and binding obligations of it, enforceable against it in accordance
        with its terms, except as may be limited by bankruptcy, insolvency or similar laws, or by equitable principles relating to or limiting creditors’ rights generally; and

       

      (d)      as of the date of this Addendum, it is not aware of any event that, due to any fiduciary or other duty to any other person, would prevent it from taking any action required of it under the
        Agreement and this Addendum.

       

      By executing and delivering this Addendum to NextDecade, the undersigned agrees to be bound by all the terms of the Agreement with respect to [●] shares of Series C Preferred Stock.

       

      The undersigned acknowledges and agrees that once delivered to NextDecade, it may not revoke, withdraw, amend, change or modify this Addendum unless the Agreement has been terminated.

       

      
        
          

      

      THIS ADDENDUM SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THAT WOULD REQUIRE THE
        APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

       

      This Addendum may be executed in one or more counterparts, each of which, when so executed, shall constitute the same instrument and the counterparts may be delivered by facsimile transmission or
        by electronic mail in portable document format (.pdf).

       

      [Signature on Following Page]

       

      
        
          

      

      IN WITNESS WHEREOF, the Parties have caused this Addendum to be duly executed and delivered by their proper and duly authorized officers as of this [●] day of [●].

       

      	 	
              TRANSFEREE WHO BECOMES A PURCHASER

            
	 	 
	 	
              [NAME]

            
	 	 
	 	
              as a Purchaser

            
	 	
              Name:

            

      

      

      
        
          

      

      Exhibit B

       

      ASSUMPTION AND JOINDER AGREEMENT

       

      Reference is made to (i) that certain Series C Convertible Preferred Stock Purchase Agreement (as amended, modified or supplemented from time to time, the “Agreement”), dated as of [●], by
        and between NextDecade Corporation, a Delaware corporation (“NextDecade”), and [●], a [●], or a successor thereof, and (ii) that certain Addendum, dated as of [●] (the “Transferor Addendum”) submitted by [●], as transferor (the “Transferor”). 

        Each capitalized term used but not defined herein shall have the meaning given to it in the Agreement.

       

      As a condition precedent to becoming a Purchaser with respect to [●] shares of Series C Preferred Stock, the undersigned (the “Transferee”) hereby agrees to become bound by all the terms,
        conditions and obligations set forth in the Agreement and the Transferor Addendum, copies of which are attached hereto as Annex I.  This Assumption and Joinder Agreement shall take effect and shall become an integral part of the Agreement and the
        Transferor Addendum immediately upon its execution, and the Transferee shall be deemed to be bound by all of the terms, conditions and obligations of the Agreement and the Transferor Addendum as of the date thereof.  The Transferee shall hereafter
        be deemed to be a “Purchaser” with respect to [●] shares of Series C Preferred Stock and a “Party” for all purposes under the Agreement.

       

      [Signatures on Following Page]

       

      
        
          

      

      IN WITNESS WHEREOF, this Assumption and Joinder Agreement has been duly executed by each of the undersigned as of the date specified below.

       

      Date:  [●]

      

      

      	
              Name of Transferor

            	 	
              Name of Transferee

            
	 	 	 
	 	 	 
	
              Authorized Signatory of Transferor

            	 	
              Authorized Signatory of Transferee

            
	 	 	 
	 	 	 
	
              (Type or Print Name and Title of Authorized Signatory)

            	 	
              (Type or Print Name and Title of Authorized Signatory)

            
	 	 	 
	 	 	
              Address of Transferee:

            
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	
              Attn:

            
	 	 	 
	 	 	 
	 	 	
              Tel:

            
	 	 	 
	 	 	 
	 	 	
              Fax:

            
	 	 	 
	 	 	 
	 	 	
              E-mail:

            
	 	 	 
	 	 	 

      

      

      
        
          

      

      Exhibit C

       

      CERTIFICATE OF DESIGNATIONS

      OF

      SERIES C CONVERTIBLE PREFERRED STOCK

      

      

      [see attached]

      

      

      
        
          

      

      Exhibit D

       

      FORM OF WARRANT AGREEMENT

       

      [see attached]

       

      
        
          

      

      Exhibit E

       

      

      USE OF PROCEEDS

       

      Proceeds from the Series C Preferred Equity Offering shall be used by the Company for development activities related to the liquefaction of natural gas and the sale of liquefied natural gas (“LNG”) in
        international markets, including:

       

      
        	 	
                •

              	
                Development activities related to the Rio Grande LNG terminal facility at the Port of Brownsville in southern Texas, including activities and businesses reasonably complementary or ancillary thereto and
                  reasonable extensions thereof; and

              

      

       

      
        	 	
                •

              	
                Development activities conducted in overseas locations in direct support of the Company’s businesses as set forth above.

              

      

       

      
        	 	
                •

              	
                Development of the Company’s proprietary processes and carbon capture and storage solution and business incident thereto.

              

      

       

      
        
          

      

      Exhibit F

       

      REGISTRATION RIGHTS AGREEMENT

       

      [see attached]

       

      
        
          

      

      Exhibit G

       

      PURCHASER NOTICE ADDRESSES

       

      York Capital Management, L.P.

      York Multi-Strategy Master Fund, L.P.

      York Credit Opportunities Fund, L.P.

      York Credit Opportunities Investments Master Fund, L.P.

      York European Distressed Asset Fund II, L.P.

      York Tactical Energy Fund, L.P.

      York Tactical Energy Fund PIV-AN, L.P.

      

      

      [Applicable Purchaser]

      c/o York Capital Management Global Advisors, LLC

      767 Fifth Avenue, 17th Floor

      New York, NY 10153

      Attention:         Brian Traficante

      btraficante@yorkcapital.com

      

      

      with a copy (which shall not constitute notice to the foregoing Purchaser) to:

      

      

      Weil, Gotshal & Manges LLP

      767 Fifth Avenue, 17th Floor

      New York, NY 10153

      Attention:         Jaclyn L. Cohen

      Jackie.Cohen@weil.com

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}]]