Document:

EXCLUSIVE DISTRIBUTION AGREEMENT

EXHIBIT 10.15

EXCLUSIVE DISTRIBUTION AGREEMENT

BY AND BETWEEN

DIVINE SKIN, INC.

AND “DISTRIBUTOR”

DISTRIBUTOR: WR Group, Inc MANUFACTURER: Divine Skin, Inc

                        

EXCLUSIVE DISTRIBUTION AGREEMENT

This Agreement, made and entered into this 1st day of March, 2009 (the "EFFECTIVE DATE"), by and between DIVINE SKIN, INC., whose principal office is located at 1680 Meridian Ave Suite 301, Miami Beach, FL 33139 (the "MANUFACTURER"), and WR Group (the "DISTRIBUTOR"). The Manufacturer and the Distributor are sometimes collectively referred to as the "Parties" and sometimes individually referred to as a "Party."

RECITALS

A.       Manufacturer manufactures of high performance dermatological and skin care products.(the "PRODUCTS").

B.       Distributor desires to acquire the exclusive right to distribute and sell the Products.

         NOW THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties agree as follows:

1.       RECITALS

         The foregoing Recitals are true, accurate, and incorporated into this Agreement.

2.       APPOINTMENT

         2.1      Subject to the terms of this Agreement, Manufacturer grants Distributor the Exclusive Distribution Rights for the Products (including any improvements to said Products now or hereafter developed by Manufacturer), and Distributor hereby accepts such appointment (the "APPOINTMENT").

         2.2      The Appointment shall commence upon Distributor's

completion of the preconditions set forth on the schedule attached hereto ("PRECONDITIONS"). In the event Distributor fails to satisfy the Preconditions within the times and dates specified, this Agreement shall automatically and immediately terminate, whereupon the parties shall be relieved of all further obligation or liability hereunder. 

         2.3      Exclusive Distribution Rights are assigned in the following territories for all products manufactured by Divine Skin, Inc and its subsidiary companies and brands. At the inception of this agreement the subsidiary companies and DBAs are as follows:

1. DS Laboratories

2. Sigma Skin

3. Polaris Labs

         

The territory agreed for sole exclusive distribution rights is:

1.

Ecommerce establishments within the European Union and/or UK.

2.

Ecommerce establishments whose core business is the sale of goods to residents of the European Union and/or UK.

3.       TERM; OPTION TO RENEW; MINIMUM SALES QUOTA

         3.1      Unless sooner terminated in accordance herewith, this Agreement shall commence on the Effective Date and  continue for a Term of ten (10) years (the "TERM"); provided, however, at any time Manufacturer shall agree to make such changes or modifications to the Agreement as (i) may be deemed necessary or desirable by Distributor’s bankers or insurance company, or (ii)facilitate either party's compliance with any law or regulation; provided, further, Manufacturer shall not change the location or size of the Territory, charge a fee to renew the Agreement, or require Distributor to execute an agreement that is materially different than the most current form of distribution agreement utilized by Distributor in the European Union.

         3.2      MINIMUM SALES QUOTA. Distributor shall execute an Initial Order, the minimum number of product units Distributor shall purchase from Manufacturer (the "MINIMUM SALES QUOTA") shall be as follows:

         (a)      25,000 product units at the inception of the agreement. Delivery of merchandise shall be executed upon the “Distributor’s” choice of date and location.

              

         (b)      25,000 product units every year thereafter.

         3.3      Distributor may terminate this Agreement at any time by providing Manufacturer with not less than thirty (30) days advance written notice of same.

4.       ORDERS AND PRICES

         4.1      The prices for the Product purchased by Distributor shall be based on current price lists published by Manufacturer, plus all applicable taxes, fees, duty or other charges imposed by any government or governmental authority, including without limitation sales tax. All prices published by Manufacturer shall not change during the Term of this Agreement.

         4.2      All orders for Products shall be in writing, addressed to Manufacturer, utilizing Manufacturer's approved form for same (each a "PURCHASE ORDER"). 

         4.3      All prices quoted herein are in United States Dollars. All payments from Distributor to Manufacturer hereunder shall be in United States Dollars.

         4.4      Merchandise cost:

DS Laboratories:

 

Spectral DNC: $12.00

Spectral DNC-L: $14.00

Spectral RS: $11.00

Revita Shampoo: $12.00

Dandrene Shampoo: $11.00

Trioxil: $12.00

Hidroviton: $12.00

Nirena: $12.00

Viterol Eyes: $12.00

Viterol Face: $12.00

Oligo DX: $15.00

Keramene: $31.00

Sigma Skin: (Case quantities of 1000 product units)

Hair Regrowth System: Step-1 Hair Growth Stimulating Shampoo

Cost: $16.10

Hair Regrowth System: Step-2 Minoxidil Topical Spray

Cost: $15.40

Hair Regrowth System: Step-3 Conditioning Treatment

Cost: $13.65

Hair Regrowth System: Set (Step-1 Shampoo, Step-2 Minoxidil Spray, Step-3 Conditioning Treatment)

Cost: $37.10

Hair Growth Suppressing Aftershave

Cost: $17.46

Facial Moisturizer with SPF29

Cost: $15.40

Anti Aging Daily Facial Cleanser

Cost: $13.86

Abdominal Toning Cream

Cost: $19.60

Polaris Labs:

NR06(Minoxidil 2%): $8.00

NR07(Minoxidil 5%): $10.00

NR08(Minoxifil 7%): $12.00

5.       PAYMENT

         5.1      Every payment by Distributor to Manufacturer hereunder shall be in U.S. dollars via (A) irrevocable bank letter of credit issued by a bank acceptable to the Manufacturer and Manufacturer's bank, (B) bank wire transfer to Manufacturer's account, or (C) such other financial instrument as may be acceptable to the Manufacturer.

         5.2      Initial order. The initial order has been set to meet the minimum dollar amount of $300,000.00 (Three Hundred Thousand US Dollars). The payment schedule is as follows:

a.

25% down payment at inception of the agreement

b.

25% payment on ship date

c.

50% payment 30 days of ship date.

6.       DELIVERY; INVENTORY

         6.1      Delivery of all Products shall be given to any place as the Distributor shall designate by written notice to Manufacturer. DS Laboratories, Inc. also agrees to take diligent care to pack the products in the most secure fashion possible to insure best protection of the products.

       

7.       TRAINING, DEMONSTRATION AND USE OF PRODUCTS

         7.1      Distributor will maintain a properly trained sales force of adequate size to represent and promote sales of the Product throughout the Territory. Distributor shall be responsible for developing its own marketing plan and system for selling the Product. 

                  

8.       MARKETING MATERIALS; OFFICIAL LANGUAGE

         8.1      Manufacturer will not copy, duplicate, reprint, fax or otherwise disseminate any Marketing Materials created by the Distributor.

         8.2      The official language of the Distributor and this Agreement is English, and the official version of the Agreement is the English version.

         8.3    All communication by and between Distributor and Manufacturer shall be in English. All documents prepared in any language other than English and submitted by Distributor to Manufacturer shall first be translated into English so that Manufacturer receives both a copy of the English version of such document and the version that is not in English.

9.      SPECIAL PROJECTS

         9.1     From time to time Distributor may request Manufacturer to assist with various projects that are not addressed in the Agreement. Distributor acknowledges that Manufacturer has no obligation to assist with or otherwise participate in such projects and that any such assistance or participation is strictly voluntary and shall not create any obligation or liability.

         9.2     The distributor may at any time request changes to the product or packaging in order to meet the requirements from the health agencies within the territory of distribution, such alterations may also be executed to adapt to the marketing strategy in place. The (“Manufacturer”) shall execute the custom production of any product provided that the following requirements are met:

a.

The product is safe for personal use.

b.

The “Distributor” agrees to place an order for five thousand (5,000) units or greater of the custom product.

10.      TRADEMARKS AND PATENTS

         10.1     Use of Trademarks. Distributor shall display each of the Trademarks (logos and marks) only on behalf of and for the sole benefit of Manufacturer, and in such manner and on such terms as Manufacturer may require or allow in writing. 

                                                            

11.      CONFIDENTIALITY

                  The Distributor and the Manufacturer acknowledge a duty of care and confidentiality to each other.

 

         11.1     Business information. All business information provided by either party to the other, including but not limited to present or prospective customers, management information reports, contracts, operational methods, plans or strategies, and other business affairs of either party, are and shall be treated as confidential both during and after the Term of this Agreement. 

         11.2     By Distributor. Distributor shall indemnify and save Manufacturer, its officers and shareholders harmless from and against any loss, claim or damage, including reasonable attorney's fees, resulting from any breach of the warranty provided herein by Distributor.

13.      COMPLIANCE WITH LAWS AND REGULATIONS

         13.1     Distributor acknowledges that it is responsible for complying with all governmental laws, ordinances, rules and regulations of the Territory ("LAWS"), including without limitation all Laws which may govern (I) the importation, transportation, storage, marketing, distribution, sale, use and disposal of Products in the Territory, and 

Government permits or approvals, compliance with customs requirements or testing of any Products. Manufacturer shall cooperate fully with Distributor in complying with any governmental agency order or rule. 

14.      PRODUCT WARRANTY

         14.1     Manufacturer warrants to Distributor that the Products were manufactured in accordance with their written specifications when shipped to Distributor, and that for the first three hundred sixty (360) days after delivery to Distributor the Products shall be free from such material defect as would render the Products unsuitable for use in the normal course.

15.      AMENDMENTS

         15.1     The provisions of this Agreement may not be amended, supplemented, waived or changed orally, but only by a writing signed by the party as to whom enforcement is sought and making specific reference to this Agreement.

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

"MANUFACTURER"

Divine Skin, INC.

By: /S/LEONID SMIRNOV

    Leo Smirnov

                    

By: /S/MICHAEL STRONG

    Michael Strong, VP Sales

By: /S/DANIEL KHESIN

    Daniel Khesin, CEO

"DISTRIBUTOR"

By: _________________________________________Exhibit 4.2

 

 

NEITHER THIS WARRANT, NOR THE
SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE "SECURITIES"), HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS. THE
SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE OFFERED, SOLD, PLEDGED, HYPOTHECATED OR
OTHERWISE TRANSFERRED EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES OR BLUE SKY LAWS, PURSUANT
TO REGISTRATION OR QUALIFICATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE
FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE ISSUER OF THE SECURITIES MAY REQUIRE AN OPINION OF
COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE ISSUER TO THE EFFECT THAT ANY PROPOSED TRANSFER IS IN COMPLIANCE
WITH THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES OR BLUE SKY LAWS.

ACCELR8 TECHNOLOGY CORPORATION 

WARRANT

	Warrant No. Abeja-1	 Date of Issuance:
June 26, 20 12

Accelr8
Technology Corporation, a Colorado corporation (the "Company"), hereby certifies that, for value received, Abeja
Ventures, LLC, a Delaware limited liability company, or its registered assign (the "Holder"), is entitled to
purchase from the Company 7,000,000 shares (as adjusted from time to time as provided in Section I I) of common stock, no par
value per share, of the Company (the "Common Stock") (each such share, a "Warrant Share" and all such
shares, the "Warrant Shares"), at an exercise price determined pursuant to Section 3 (the "Exercise Price"),
at any time and from time to time from and after the date hereof through and including the date that is five (5) years following
the date of issuance set forth above (the "Expiration Date"), and subject to the following terms and conditions:

1.
Purchase Agreement. This Warrant is one of two Warrants (collectively, the "Warrants") issued by the Company
in connection with that certain Securities Purchase Agreement, entered into on April 20, 2012 (the "Purchase Agreement"),
by and among the Company and Holder, and is subject to, and the Company and the Holder shall be bound by, all the applicable terms,
conditions and provisions of the Purchase Agreement.

2. Definitions.
In addition to the terms defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein shall have
the meanings assigned to such terms in the Purchase Agreement. 

 

3.  Exercise
Price. This Warrant may be exercised for a price per Warrant Share equal to $1.03, subject to adjustment from time to time
pursuant to Section 11.

 

4. Registration
of Warrant. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the "Warrant
Register"), in the name of the record Holder hereof from time to time. The Company may deem and treat the Holder of this
Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary. 

 

5. Registration
of Transfers. Subject to the Holder's appropriate compliance with the restrictive legend on this Warrant, the Company shall
register the transfer of any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, with the
Form of Assignment substantially in the form attached hereto as Attachment B duly completed and signed, to the Company at its
address specified herein. Upon any such registration or transfer, a new Warrant to purchase Common Stock, in substantially the
form of this Warrant (any such new Warrant, a "New Warrant"), evidencing the portion of this Warrant so transferred
shall be issued to the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any,
shall be issued to the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance
by such transferee of all of the rights and obligations of a holder of a Warrant.

 

 

 

 

     

     

    

6.
Exercise and Duration of Warrants. This Warrant shall be exercisable by the registered Holder at any time and from time
to time on or after the date hereof to and including the Expiration Date. At 6:30 p.m., New York City time, on the Expiration
Date, the portion of this Warrant not exercised prior thereto shall be and become void and of no value. The Company may not call
or redeem all or any portion of this Warrant without the prior written consent of the Holder.

7.
Delivery of Warrant Shares.

(a)
To effect conversions hereunder, the Holder shall not be required to physically surrender this Warrant unless the aggregate number
of Warrant Shares represented by this Warrant is being exercised. Upon delivery of an Exercise Notice substantially in the form
attached hereto as Attachment A (an "Exercise Notice") to the Company at its address for notice determined
as set forth herein, and upon payment of the applicable Exercise Price multiplied by the number of Warrant Shares that the Holder
intends to purchase hereunder, the Company shall promptly (but in no event later than five (5) trading days after the Date of
Exercise (as defined below)) issue and deliver, or cause its transfer agent to issue and deliver, to the Holder a certificate
for the Warrant Shares issuable upon such exercise registered in the name of the Holder or its designee. A "Date of Exercise"
means the date on which the Holder shall have delivered to the Company: (i) an Exercise Notice, appropriately completed and duly
signed, and (ii) payment of the Exercise Price (by certified or official bank check, intra-bank account transfer or wire transfer)
for the number of Warrant Shares so indicated by the Holder to be purchased.

 

(b)
If by the fifth trading day after a Date of Exercise the Company fails to deliver the required number of Warrant Shares in the
manner required pursuant to Section 7(a), the Holder will have the right to rescind such exercise.

 

(c) The Company's obligations to issue and deliver
Warrant Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by
the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment
against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or
any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged
violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit
such obligation of the Company to the Holder in connection with the issuance of Warrant Shares. Nothing herein shall limit a
Holder's right to pursue any other remedies available to it hereunder, at law or in equity, including a decree of specific
performance and/or injunctive relief with respect to the Company's failure to timely deliver certificates representing shares
of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

8. Charges, Taxes and Expenses.
Issuance and delivery of certificated or uncertificated shares of Common Stock upon exercise of this Warrant shall be made
without charge to the Holder for any issue or transfer tax, withholding tax, transfer agent fee, or other incidental tax or
expense in respect of the issuance of such shares, all of which taxes and expenses shall be paid by the Company; provided,
however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in
the registration of any certificates for Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall
be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving
Warrant Shares upon exercise hereof.

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9. Replacement
of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a new Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity
(which shall not include a surety bond), if requested. Applicants for a new warrant under such circumstances shall also comply
with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe.
If a new warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver this mutilated Warrant
to the Company as a condition precedent to the Company's obligation to issue the new warrant. 

 

10.
Reservation of Warrant Shares. The Company covenants that it will at all times reserve and keep available out of the aggregate
of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares
upon exercise of this Warrant as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the
exercise of this entire Warrant, free from Liens or any other contingent purchase rights of persons other than the Holder (taking
into account the adjustments and restrictions of Section 11). The Company covenants and warrants that all Warrant Shares so issuable
and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized, issued and fully paid and non-assessable.

 

11.
Certain Adjustments. The number of Warrant Shares issuable upon exercise of this Warrant is subject to adjustment from
time to time as set forth in this Section 11. 

 

(a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i)
pays a stock dividend or otherwise makes a distribution or distributions on shares of its
Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt,
shall not include any shares of Common Stock issued by the Company upon exercise of any Warrants), (ii) subdivides outstanding
shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares
of Common Stock into a smaller number of shares, or (iv) issues by reclassification of shares of Common Stock any shares of capital
stock of the Company; then in each such case (A) the Exercise Price will be adjusted by multiplying the Exercise Price then in
effect by a fraction, the numerator of which equals the number of shares of Common Stock outstanding immediately prior to such
event (excluding treasury shares, if any), and the denominator of which equals the number of shares of Common Stock outstanding
immediately after such event, and (B) the number of Warrant Shares issuable hereunder shall be concurrently adjusted by multiplying
such number by the reciprocal of such fraction. Such adjustments will take effect (i) if a record date shall have been fixed for
determining the stockholders or security holders, as applicable, of the Company entitled to receive such dividend, distribution
or issuance by reclassification, as the case may be, immediately after such record date, (ii) otherwise, immediately after the
effective date of such dividend, distribution, subdivision, combination, or issuance by reclassification, as the case may be.

 

(b) Fundamental Transaction. If, at any time while
this Warrant is outstanding, (i) the Company, directly or indirectly, in one or a
series of related transactions, (A) effects any merger or consolidation of the Company with or into another Person, (B)
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its
assets, (C) effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share

 

 

 

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exchange pursuant to which the Common
Stock is effectively converted into or exchanged for other securities, cash or property (except for issuances by reclassification
contemplated by Section Il(a)(iv)) or (D) consummates a stock or share purchase agreement or other business combination (including
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other
Person or group acquires more than fifty percent (50%) of the outstanding shares of Common Stock (not including any shares of
Common Stock held by the other Person or group making or party to, or associated or affiliated with the other Persons making or
party to, such stock or share purchase agreement or other business combination), or (ii) any, direct or indirect, purchase offer,
tender offer or exchange offer (whether by the Company or another Person or group of Persons) is completed pursuant to which holders
of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property (each transaction
or series of transactions referred to in clause (i) or (ii) above, a "Fundamental Transaction"); then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, (1) the number of shares of common stock of
the successor or acquiring corporation or, if it is the surviving corporation, of the Company, and (2) any additional consideration
(the "Alternate Consideration") receivable as a result of such Fundamental Transaction by a holder of the number of
shares of Common Stock fqr which this Warrant is exercisable
immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount and components of Alternate Consideration
issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Board shall apportion the Exercise Price
among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate
Consideration (substituting the most appropriate market-based measure for the Trading Market in determining the daily VWAP from
time to time for each component of the Alternate Consideration or, if no market-based measure is reasonably available for any
such component, fixing the daily VWAP of such component at the value determined by such apportionment, but subject to further
adjustment as provided in this Section 11). If holders of Common Stock are given any choice as to the securities, cash
or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental Transaction. To the extent necessary to effectuate the
foregoing provisions, any successor to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder
a new warrant of like tenor to this Warrant but adjusted to be consistent with the foregoing provisions and evidencing the Holder's
right to exercise such warrant for the appropriate number of shares of capital stock and Alternate Consideration, if any, in exchange
for this Warrant. The Company shall ensure that the terms of any agreement pursuant to which a Fundamental Transaction is effected
shall include terms requiring any such successor or surviving entity to comply with the provisions of this Section 11(b)
and ensuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction or
series of related transactions analogous to a Fundamental Transaction. "VWAP" means, for any date, the price
determined by the first of the following clauses that applies: (A) if the Common Stock is then listed or quoted on a trading market,
the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the principal trading
market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m.
(New York City time) to 4:02 p.m. (New York City time)), (B) if prices for the Common Stock are then reported in the
"Pink Sheets" published by Pink OTC Markets, Inc. (or a similar organization or agency succeeding to its functions of
reporting prices), the most recent bid price per share of the Common Stock so reported during trading hours, or (C) in all other
cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the
Company's Board of Directors and reasonably acceptable to the Holder, the fees and expenses of which shall be paid by the Company.

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(c) Payment of Exercise
Price. The Holder may pay the Exercise Price by certified or official bank check, by intra-bank account transfer or by wire
transfer of same-day funds.

12. No
Fractional Shares. No fractional shares of Common Stock will be issued in connection with any exercise of this Warrant. In lieu
of any fractional shares which would otherwise be issuable, the Company shall pay the Holder an amount of cash equal to the
product of such fraction multiplied by the closing price of one share of Common Stock as reported on the principal trading
market for the Common Stock on the Date of Exercise.

 

13.  Notices.
Any and all notices or other communications or deliveries hereunder (including any Exercise Notice) shall be in writing and shall
be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number pursuant to this Section 13 prior to 6:30 p.m. (New York City time) on a trading day, (ii) the
next trading day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number
specified pursuant to this Section 13 on a day that is not a trading day or later than 6:30 p.m. (New York City time) on
any trading day, (iii) the trading day following the date of mailing, if sent by nationally recognized overnight courier service
to the street address specified pursuant to this Section 13, or (iv) upon actual receipt by the party to whom such notice is required
to be given. The addresses for such communications shall be as follows:

  

	(a)	if to the Company, to
	 	 
	 	Accelr8 Technology Corporation
	 	 7000 North
Broadway, Building 3-307

	 	Denver, Colorado 80221
	 	Attn: Chief Executive Officer 
	 	Facsimile: (303) 863-1218
	 	 
	 	with a copy to (which shall not constitute
notice to the Company):
	 	 
	 	Schlueter & Associates, P.C.
	 	1050
17th Street, Suite 1750 
	 	Attn: Henry Schlueter, Esq. and David Stefanski, Esq.
	 	Facsimile: (303) 296-8880
	 	 

(b) if to the Holder, to the address,
facsimile number or email or street address appearing on the Warrant Register (which shall initially be the facsimile number and
email and street address set forth for the initial Holder in the Purchase Agreement);

or to such other address, facsimile
number or email address as the Company or the Holder may provide to the other in accordance with this Section 13.

14. Warrant Agent. The Company shall
serve as warrant agent under this Warrant. Upon thirty (30) days notice to the Holder, the Company may appoint a new warrant agent.
Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from any consolidation
to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any new warrant agent
transfers substantially all of its corporate trust or stockholders services business shall be a successor warrant agent under
this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession as warrant
agent to be mailed (by first class mail, postage
prepaid) to the Holder at the Holder's last address as shown on the Warrant Register.

 

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15.
Miscellaneous.

(a)
Assignment. Subject to the restrictions on transfer described herein, the rights and obligations of the Company and the
Holder shall be binding upon, and inure to the benefit of, the successors, assigns, heirs, administrators and transferees of the
parties. The Company shall not have the right directly or indirectly to assign or transfer this Warrant without the prior written
consent of the Holder, which may be withheld in the Holder's sole discretion, or as part of a Fundamental Transaction.

 

(b)
No Third Party Beneficiaries. Nothing in this Warrant shall be construed to give to any Person other than the Company and
the Holder any legal or equitable right, remedy or cause of action under this Warrant.

 

(c)
Amendments; Waiver. This Warrant may be amended only in writing signed by the Company and the Holder, and any amendment
so effected shall amend each Warrant issued pursuant to the Purchase Agreement and be binding upon each holder of such Warrants
(provided, however, that any such amendment that adversely affects any holder or class of holders of such Warrants in a manner
that does not apply uniformly to all holders of such Warrants, as applicable, shall require the written consent of such adversely
affected holders or class). Any provision of this Warrant may be waived, but only if in writing by the party against whom enforcement
of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Warrant
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

(d)
Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Colorado, without
regard to principles of conflict of laws.

 

(e) Severability. If one or more provisions of this
Warrant are held to be unenforceable under applicable law in any respect, such provision shall be excluded from this Warrant
and the balance of this Warrant shall be construed and interpreted as if such provision were so excluded and shall be
enforceable in accordance with its remaining terms.

 

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IN
WTINESS WHEREOF, the Company has caused this Warrant to be duly executed by its
authorized officer as ofthe date fIrst indicated above.  

	 	ACCELR8 TECHNOLOGY CORPORATION
	 	a Colorado corporation
	 	 
	 	By: /s/ Thomas Geimer
	 	Name: Thomas Geimer
	 	Its: Chief Executive Officer

 

 

(Signature Page - Warrant No. Abeja-1)

 

 

 

     

     

    
 

ATTACHMENT A

EXERCISE NOTICE

To Accelr8 Technology Corporation:

The
undersigned hereby irrevocably elects to purchase shares (the "Shares") of common stock, no par value per share
("Common Stock"), of Accelr8 Technology Corporation, a Colorado corporation, pursuant to Warrant No. __, originally
issued on , 2012 (the "Warrant"). The undersigned elects to utilize the following manner of exercise:

	Shares:	 	 	 
	 	_____________	 	Full Exercise of Warrants
	 	_____________	 	Partial Exercise of Warrants (in the amount of __________ Shares)
	 	 	 	 
	Exercise Price: $_____________ 	 
	 	 	 	 
	Manner of Exercise:	 
	 	 	 	Certified of Official Bank Check
	 	 	 	Intra-Bank Account Transfer
	 	 	 	Wire Transfer

 

[Please
issue a new Warrant for the unexercised portion of the attached Warrant in the name of the [undersigned]/[the undersigned's nominee
as is specified below].]

 

	Date:	 
	 	 
	Full Name of Holder*:	 
	 	 
	Signature of Holder or Authorized Representative:	 
	 	 
	Name and Title of Authorized Representative†:	 
	 	 
	Additional Signature of Holder (if jointly held):	 
	 	 
	Social Security or Tax Identification Number:	 
	 	 
	Address of Holder:	 
	 	 
	 	 
	 	 
	Full Name of Nominee of Holder†:	 
	 	 
	Address of Nominee of Holder†:	 
	 	 

 

* Must conform in all respects to
name of holder as specified on the face of the Warrant.

† If applicable. 

 

 

     

     

    

ATTACHMENT B

FORM OF ASSIGNMENT

[To be completed and signed only upon
transfer of Warrant] 

FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers untothe right represented by the attached
Warrant to purchase _____ shares of Common Stock of Accelr8 Technology Corporation, a Colorado corporation (the "Company"),
to which the Warrant relates and appoints as attorney to transfer said right on the books of the Company with full power of substitution
in the premises.

	Date:	 
	 	 
	Full Name of Holder*:	 
	 	 
	Signature of Holder or Authorized Representative:	 
	 	 
	Name and Title of Authorized Representative†:	 
	 	 
	Additional Signature of Holder (if jointly held):	 
	 	 
	Social Security or Tax Identification Number:	 
	 	 
	Address of Holder:	 
	 	 
	 	 
	 	 
	Full Name of Transferee:	 
	 	 
	Address of Transferee:	 
	 	 

 

In the presence of:

______________________________________________

 

* Must conform in all respects to
name of holder as specified on the face of the Warrant.

†
If applicable.

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