Document:

Exhibit 10.2

 

September 6, 2019

 

UTXO Acquisition Inc.

203 N LaSalle ST,
#2100

Chicago, IL 60601

 

Re:

Initial Public
Offering

Ladies and Gentlemen:

This
letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement
(the “Underwriting Agreement”) entered into by and among UTXO Acquisition Inc., a Delaware corporation
(the “Company”), and Univest Securities, LLC, as representative (the “Representative”
or “Underwriter”), relating to an underwritten initial public offering (the “Public Offering”),
of 5,000,000 of the Company’s units (including up to 750,000 units that may be purchased to cover over-allotments, if any)
(the “Units”), each comprised of one share of the Company’s Class A common stock, par value $0.0001
per share (the “Common stock”), one-half of one redeemable warrant and one right. Each whole warrant
(each, a “Warrant”) entitles the holder thereof to purchase one share of Class A common stock at a price
of $11.50 per share, subject to adjustment. Each right (each, a “Right”) entitles the holder to receive one-tenth
(1/10) of one (1) share of Class A common stock upon consummation of our initial business combination The Units will be sold in
the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”)
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company
will have the Units listed on the Nasdaq Capital Market. Certain capitalized terms used herein are defined in paragraph 11 hereof.

 

In
order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of UTXO Vector
LLC (the “Sponsor”) and the undersigned individuals, each of whom is a member of the Company’s
board of directors and/or management team of the Company (each, an “Insider” and collectively, the “Insiders”),
hereby agrees with the Company as follows:

 

1.
The Sponsor and each Insider agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in
connection with such proposed Business Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him
or her in favor of any proposed Business Combination and (ii) not redeem any shares of Common stock owned by it, him or her in
connection with such shareholder approval.

 

2.
The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within
18 months (or 24 months, if applicable) from the closing of the Public Offering, or such later period approved by the Company’s
shareholders in accordance with the Company’s amended and restated certificate of incorporation (the “Charter”),
the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose
of winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available
funds therefor, redeem 100% of the Common stock sold as part of the Units in the Public Offering (the “Offering Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below),
including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes (less
up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption
will completely extinguish all Public Shareholders’ rights as shareholders (including the right to receive further liquidation
distributions, if any), subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject
to the approval of the Company’s remaining shareholders and the Company’s board of directors, dissolve and liquidate,
subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and other requirements
of applicable law. The Sponsor and each Insider agrees not to propose any amendment to the Charter to modify the substance or
timing of the ability of holders of Offering Shares to seek redemption in connection with a Business Combination or the Company’s
obligation to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within such time set
forth in the Charter, unless the Company provides its public shareholders with the opportunity to redeem their shares of Common
stock upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company
to pay its taxes, divided by the number of then outstanding Offering Shares. The Sponsor and each Insider acknowledges that it,
he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any other asset
of the Company as a result of any liquidation of the Company with respect to the Founder Shares or Private Placement Shares held
by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of Common stock held by it,
him or her, if any, whether acquired now or hereafter, any redemption rights it, he or she may have in connection with the consummation
of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve
such Business Combination or a shareholder vote to approve an amendment to the Charter to modify the substance or timing of the
Company’s obligation to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within
the time period set forth in the Charter or in the context of a tender offer made by the Company to purchase shares of Common
stock (although the Sponsor, the Insiders and their respective affiliates shall be entitled to redemption and liquidation rights
with respect to any Offering Shares it or they hold if the Company fails to consummate a Business Combination within the time
period set forth in the Charter).

    	 

    	 

    

3.
During the period commencing on the date of the Underwriting Agreement and ending 180 days after such date, the Sponsor and each
Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations
of the Commission promulgated thereunder, with respect to any Units, shares of Capital Stock, Warrants or any securities convertible
into, or exercisable, or exchangeable for, shares of Capital Stock owned by it, him or her, (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Units, shares
of Capital Stock, Warrants or any securities convertible into, or exercisable, or exchangeable for, shares of Capital Stock owned
by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii)
publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each of the Insiders and the Sponsor
acknowledges and agrees that, prior to the effective date of any release or waiver, of the restrictions set forth in this paragraph
3 or paragraph 7 below, the Company shall announce the impending release or waiver by press release through a major news service
at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be effective
two business days after the publication date of such press release. The provisions of this paragraph will not apply if the release
or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by
the same terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time
of the transfer.

 

4.
In the event of the liquidation of the Trust Account, the Sponsor (the “Indemnitor”) agrees to indemnify
and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited
to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation, whether
pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered
or products sold to the Company or (ii) any prospective target business with which the Company has entered into a written letter
of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”);
provided, however, that such indemnification of the Company by the Indemnitor shall (x) apply only to the extent necessary to
ensure that such claims by a third party or a Target do not reduce the amount of funds in the Trust Account to below the lesser
of (i) $10.00 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the
liquidation of the Trust Account, if less than $10.00 per Offering Share is then held in the Trust Account due to reductions in
the value of the trust assets, less interest earned on the Trust Account which may be withdrawn to pay taxes, (y) not apply to
any claims by a third party or a Target which executed a waiver of any and all rights to the monies held in the Trust Account
(whether or not such waiver is enforceable) and (z) not apply to any claims under the Company’s indemnity of the Underwriters
against certain liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor shall have the
right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following
written receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake
such defense.

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5.
To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an additional 750,000 Units
in full within 45 days from the date of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit,
at no cost, a number of Founder Shares in the aggregate equal to 187,500 multiplied by a fraction, (i) the numerator of which
is 750,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii)
the denominator of which is 750,000. The Sponsor will be required to forfeit only that number of Founder Shares as is necessary
so that the Initial Shareholders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital
Stock after the Public Offering.

 

6.
(a) Each of the officers of the Company hereby agrees not to become an officer or director of, any other special purpose acquisition
company with a class of securities registered under the Exchange Act until the Company has entered into a definitive agreement
regarding an initial Business Combination or unless the Company has failed to complete a Business Combination within the time
period set forth in the Charter.

 

(b)
The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company would be irreparably injured
in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 6(a), 7(a), 7(b), and 9,
as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching
party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in
the event of such breach.

 

7.
(a) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or shares of Common stock issuable
upon conversion thereof) until the earlier of (1) with respect to 50% of the founder shares, the earlier of six months after the
date of the consummation of our initial business combination and the date on which the closing price of our shares of common stock
equals or exceeds $12.50 per share (as adjusted for share splits, share capitalizations, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing after our initial business combination and (2) with respect
to the remaining 50% of the sponsor shares, six months after the date of the consummation of our initial business combination,
or earlier, in either case, if, subsequent to our initial business combination, we consummate a liquidation, merger, share exchange
or other similar transaction which results in all of our stockholders having the right to exchange their shares for cash, securities
or other property (the “Founder Shares Lock-up Period”).

 

(b)
The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Units, the Private Placement Shares,
the Private Placement Warrants or shares of Common stock issued or issuable upon the exercise of the Private Placement Warrants,
until 30 days after the completion of a Business Combination (the “Private Placement Units Lock-up Period”,
together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c)
Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the Founder Shares, Private Placement Units,
Private Placement Shares, Private Placement Warrants and shares of Common stock issued or issuable upon the exercise or conversion
of the Private Placement Warrants or the Founder Shares that are held by the Sponsor, any Insider or any of their permitted transferees
(that have complied with this paragraph 7(c)), are permitted (a) to our officers or directors, any affiliates or family members
of any of our officers or directors, any members of our Sponsor, or any affiliates of our Sponsor, (b) in the case of an individual,
by gift to a member of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual, by virtue
of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic
relations order; (e) in the event of our liquidation prior to our completion of our initial business combination; or (f) by virtue
of the laws of the Delaware or our Sponsor’s operating agreement upon dissolution of our Sponsor; provided, however, that
in the case of clauses (a) through (e) or (f) these permitted transferees must enter into a written agreement agreeing to be bound
by these transfer restrictions and by the same agreements entered into by our Sponsor with respect to such securities.

 

8.
The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in
any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended
or revoked. Each Insider’s biographical information furnished to the Company (including any such information included in
the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s
background. Each Insider’s questionnaire furnished to the Company is true and accurate in all respects. Each Insider represents
and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order
or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction;
it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial
transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she is
not currently a defendant in any such criminal proceeding.

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9.
Except as disclosed in the Prospectus, neither the Sponsor nor any affiliate of the Sponsor, nor any director or officer of the
Company, shall receive any finder’s fee, reimbursement, consulting fee, monies in respect of any repayment of a loan or
other compensation prior to, or in connection with any services rendered in order to effectuate the consummation of the Company’s
initial Business Combination (regardless of the type of transaction that it is). However, such persons may receive the following
payments, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business
Combination: repayment of a loan of up to $300,000 made to the Company by the Sponsor, pursuant to a Promissory Note dated September
6, 2019; payment of an aggregate of $5,000 per month, to the Sponsor, for office space, utilities, secretarial support and administrative
services, pursuant to an Administrative Services Agreement, dated [·],
2019; reimbursement for any out-of-pocket expenses related to identifying, investigating, negotiating and consummating an initial
Business Combination; and repayment of loans, if any, and on such terms as to be determined by the Company from time to time,
made by the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors to finance transaction
costs in connection with an intended initial Business Combination, provided, that, if the Company does not consummate an initial
Business Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay such
loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to $1,500,000 of such loans may be
convertible into units at a price of $10.00 per unit at the option of the lender.

 

10.
The Sponsor has full right and power, without violating any agreement to which it is bound (including, without limitation, any
non-competition or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement, and
each Insider hereby consents to being named in the Prospectus as an officer and/or director of the Company, as applicable.

 

11.
As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Capital
Stock” shall mean, collectively, the Common stock and the Founder Shares; (iii) “Founder Shares”
shall mean (a) the 147,500 shares of the Company’s Class B common stock, par value $0.0001 per share, initially issued to
the Sponsor (up to 187,500 Shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment
option is not exercised by the Underwriters) for an aggregate purchase price of $25,000, or $0.017 per share, prior to the consummation
of the Public Offering; (iv) “Initial Shareholders” shall mean the Sponsor and any Insider that holds
Founder Shares; (v) “Private Placement Units” shall the 220,000 units, each comprised of one share of
Common stock and one-half of one warrant to purchase one share of Common stock, that the Sponsor has agreed to purchase for an
aggregate purchase price of $2,200,000 in the aggregate, or purchase price of $10.00 per Private Placement Unit, in a private
placement that shall occur simultaneously with the consummation of the Public Offering; (vi) “Public Shareholders”
shall mean the holders of securities issued in the Public Offering; (vii) “Trust Account” shall mean
the trust fund into which a portion of the net proceeds of the Public Offering shall be deposited.

 

12.
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral,
to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement
may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision,
except by a written instrument executed by all parties hereto.

 

13.
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the
prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual
and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be binding
on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees.

 

14.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall
for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

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15.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall
not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this
Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and
enforceable.

 

16.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.
The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this
Letter Agreement shall be brought and enforced in the courts of the State of Delaware, and irrevocably submit to such jurisdiction
and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue
or that such courts represent an inconvenient forum.

 

17.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be
in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),
by hand delivery or facsimile transmission.

 

18.
This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the
Company; provided, however, that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated
and closed by December 31, 2020; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

19.
The Company, the Sponsor and each Insider hereby acknowledges and agrees that the Representative on behalf of the Underwriters
is a third-party beneficiary of this Letter Agreement.

 

[Signature
Page Follows]

 

	Sincerely,	 	 
	 	 	 
	 	UTXO
    Vector LLC
	 	 	 
	 	By: 	 
	 	 	Name
	 	 	Title:
	 	 	 
	 	By:	 
	 	 	Name: Wei Huang
	 	 	 
	 	By:	 
	 	 	Name: Yuanyuan
    Huang

	Acknowledged and
    Agreed:	 
	 	 
	UTXO Acquisition
    Inc.	 
	 	 
	By:	 	 
	 	                 	 

[Signature Page to Letter Agreement]

    	5Exhibit 10.1

 

share SUBSCRIPTION
AGREEMENT

 

PharmaCyte Biotech, Inc.

23046 Avenida de la Carlota, Suite 600

Laguna Hills, California 92653

Attn: Kenneth L. Waggoner

 

Dear Mr. Waggoner:

 

The undersigned (“Subscriber”)
hereby subscribes for thirty million (30,000,000) shares of restricted common stock (“Shares”), par value $0.0001
per share (“Common Stock”), of PharmaCyte Biotech, Inc., a Nevada corporation (“Company”),
at a cash purchase price per share of $0.005 (“Purchase Price”).

 

1.                 
Subscription. Subject to the terms and conditions hereof, the Subscriber agrees to pay One Hundred Fifty Thousand
Dollars ($150,000.00) by check or wire transfer of immediately available funds as total consideration (“Payment”)
for the Subscriber’s Shares. Subscriber agrees that the Payment shall be made within five (5) days of the “Date of
Execution” (the date of such payment, “Payment Date”). The Subscriber agrees that regardless of the date
of the Payment Date, the Purchase Price will not change. The Subscriber acknowledges and agrees that this subscription is irrevocable
by the Subscriber but is subject to acceptance by the Company. The Subscriber agrees that it will have no rights as a holder of
Common Stock until the Payment is received by the Company.

 

2.                 
Subscription Compliance. The Subscriber agrees that this subscription is subject to the following terms and conditions:

The Company shall have the right, in its
sole discretion, to: (i) accept or reject this subscription; (ii) determine whether this Share Subscription Agreement (“Agreement”)
has been properly completed by the Subscriber; and (iii) determine whether the Subscriber has met all of the Company’s requirements
for investment in the Shares. If the Company deems this subscription to be defective, deficient or otherwise non-compliant with
the terms of this offering, the Subscriber’s funds will be returned promptly to the Subscriber without interest or deduction.

 

3.                 
Receipt of Information.

 

a.                  The
Subscriber has reviewed a copy of the Company’s most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
current reports on Form 8-K. The Subscriber has such knowledge and experience in financial and business matters as to be able
to evaluate the merits and risks of an investment in the Company.

 

b.                  The
Subscriber has had the opportunity to ask questions of and receive answers from the Company concerning the terms and conditions
of the offering of the Shares by the Company and to obtain any additional information the Subscriber has requested which is necessary
to verify the accuracy of the information furnished to the Subscriber concerning the Company and such offering.

 

 

 

    	 	1	 

     

    

 

4.                 
Representations and Warranties of Company. In connection with the Sale of the Shares, the Company hereby represents
and warrants to the Subscriber as follows:

 

a.                  The
Company has all requisite power and authority to execute, deliver, and perform its obligations under this Agreement, and, when
executed and delivered by the Subscriber, shall constitute a valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, fraudulent conveyance,
moratorium or other similar laws affecting creditors’ rights and remedies generally, and subject, as to enforceability,
to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity);

 

b.                 
The Shares have been duly authorized and, when conveyed by the Company to the Subscriber on the Payment Date, all in accordance
with the terms of this Agreement, will be duly and validly issued, fully paid and non-assessable;

 

c.                  Neither
the execution or delivery of this Agreement, nor any other documents required to be executed and delivered by the Company pursuant
to this Agreement, nor the consummation of the transaction contemplated hereby: (i) conflicts with or constitutes any violation
or breach; or (ii) gives any other person any rights (including, but not limited to, any legal rights to acceleration, termination,
cancellation or recession) under any document or agreement to which the Company is a party. Neither the Company’s entry
into this Agreement, nor the Company’s representations made in this Agreement, constitute a violation of any order or applicable
law that the Company or to which the Company’s assets are bound by or subject; and

 

d.                 
The Company is a corporation validly existing and in good standing under the laws of the State of Nevada.

 

5.                 
Representations of Subscriber. In connection with the purchase of the Shares, the Subscriber hereby represents and
warrants to the Company as follows:

 

a.                  The
Subscriber is an “accredited investor” as defined in Rule 501 of Regulation D promulgated under the Securities Act
of 1933, as amended (“Securities Act”);

 

b.                 
The Shares are being purchased for the Subscriber’s own account without the participation of any other person, with
the intent of holding the Shares for investment and without the intent of participating, directly or indirectly, in a distribution
of the Shares and not with a view to, or for a resale in connection with, any distribution of the Shares or any portion thereof,
nor is the Subscriber aware of the existence of any distribution of the Company’s securities. Furthermore, the Subscriber
has no present intention of dividing the Shares with others or reselling or otherwise disposing of any portion of the Shares, either
currently or after the passage of a fixed or predeterminable period of time, or upon the occurrence or nonoccurrence of any predetermined
event or circumstance;

 

c.                  
The Subscriber has no need for liquidity with respect to its purchase of the Shares and is able to bear the economic risk
of an investment in the Shares for an indefinite period of time and is further able to afford a complete loss of such investment;

 

 

 

 

    	 	2	 

     

    

 

d.                 
The Subscriber recognizes that the Shares will be sold to the Subscriber without registration under any United States federal
or other law relating to the registration of securities for sale;

 

e.                   The
Subscriber is aware that any resale of the Shares cannot be made except in accordance with the registration requirements of the
Securities Act or an exemption therefrom;

 

f.                    The
Subscriber represents and warrants that all offers and sales of the Shares shall be made pursuant to an exemption from registration
under the Securities Act or pursuant to registration under the Securities Act, and the Subscriber will not engage in any hedging
or short selling transactions with regard to the Shares;

 

g.                 
The Subscriber is not acquiring the Shares based upon any representation, oral or written, by any person with respect to
the future value of, or income from, the Shares but rather upon an independent examination and judgment as to the prospects of
the Company;

 

h.                 
The Subscriber understands that the Company has had a limited operating history, and, as a result, its operations have produced
no revenues from its products and that the Company has incurred expenses and has sustained losses. The Subscriber further understands
that the Company’s operations are subject to all the risks inherent in the establishment of a biotechnology company. The
Subscriber appreciates and understands the risks involved with investing in a Company with a limited operating history and has
read and understands the risk factors and other information set forth in the Company’s Annual Report on Form 10-K filed with
the U.S. Securities and Exchange Commission (“SEC”) on August 13, 2019 (“Annual Report”).
The Annual Report and any future filings made with the SEC pursuant to the Securities Exchange Act of 1934, as amended (“Exchange
Act”), can be obtained by visiting the SEC’s website at http://www.sec.gov.
The Subscriber agrees that it is not relying on any other written information which may have been provided by the Company;

 

i.                    The
Subscriber represents, warrants and agrees that it will not sell or otherwise transfer the Shares without registration under the
Securities Act or an exemption therefrom, and fully understands and agrees that the Subscriber must bear the economic risk of
its purchase because, among other reasons, the Shares have not been registered under the Securities Act or under the securities
laws of any state and, therefore, cannot be resold, pledged, assigned or otherwise disposed of unless they are subsequently registered
under the Securities Act and under the applicable securities laws of such states, or an exemption from such registration is available.
In particular, the Subscriber is aware that the Shares are “restricted securities,” as such term is defined in Rule
144 promulgated under the Securities Act (“Rule 144”), and they may not be sold pursuant to Rule 144 unless
all of the conditions of Rule 144 are met by the Subscriber;

 

j.                   
The Company has made no representations or warranties as to the suitability of the Subscriber’s investment in the
Company, the length of time the undersigned will be required to own the Shares or the profit to be realized, if any, as a result
of investment in the Company. Neither the Company nor its counsel has made an independent investigation on behalf of the Subscriber,
nor has the Company, by and through itself and counsel, acted in any advisory capacity to the Subscriber;

 

k.                 
The Shares were not offered to the Subscriber by means of publicly disseminated advertisement or sales literature, nor is
the Subscriber aware of any offers made to other persons by such means; and

 

 

 

 

    	 	3	 

     

    

 

l.                   
All information which the Subscriber has provided to the Company concerning the Subscriber is correct and complete as of
the date set forth at the end of this Agreement, and if there should be any material adverse change in such information prior to
receiving notification that this subscription has been accepted, the Subscriber will immediately provide the Company with such
information.

 

6.                 
Agreements of Subscriber. The Subscriber agrees as follows:

 

a.                   The
sale of the Shares by the Company has not been recommended by any United States federal or other securities commission or regulatory
authority. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of this Agreement
or of any of the Company’s filings with the SEC;

 

b.                 
The Shares will not be offered for sale, sold, or transferred other than pursuant to: (i) an effective registration under
the Securities Act or in a transaction otherwise in compliance with the Securities Act; and (ii) evidence satisfactory to the Company
of compliance with the applicable securities laws of other jurisdictions. The Company shall be entitled to rely upon an opinion
of counsel satisfactory to it with respect to compliance with these laws;

 

c.                   The
Company is under no obligation to register the Shares or to comply with any exemption available for sale of the Shares without
registration, and the information necessary to permit routine sales of securities of the Company under Rule 144 of the Securities
Act may not be available when the Subscriber desires to resell them pursuant to Rule 144 of the Securities Act. The Company is
under no obligation to act in any manner so as to make Rule 144 available with respect to the Shares;

 

d.                 
The Company may, if it so desires, refuse to permit the transfer of the Shares unless the request for transfer is accompanied
by an opinion of counsel acceptable to the Company to the effect that neither the sale nor the proposed transfer will result in
any violation of the Securities Act or the applicable securities laws of any other jurisdiction; and

 

e.                  
A legend indicating that the Shares have not been registered under such securities laws and referring to the restrictions
and transferability of the Shares may be placed on the stock certificates delivered to the Subscriber or any substitutes thereof
and any transfer agent of the Company may be instructed to require compliance therewith.

 

7.                 
Closing. The Subscriber understands and agrees that the Company intends to issue the Shares upon receipt by the Company
of this Agreement, including the Questionnaire attached to this Agreement, together with the Subscriber’s funds and certain
other documents to be delivered to the Company by the Subscriber. The Subscriber further understands that there may be conditions
to closing this subscription which if not met may result in the return of the subscription hereunder.

 

8.                 
Indemnification of the Company. The undersigned understands the meaning and legal consequences of the representations
and warranties contained in this Agreement and hereby agrees to indemnify and hold harmless, the Company, its respective agents,
directors, officers, employees, attorneys and affiliates from and against any and all damages, losses, costs and expenses
(including attorneys’ fees) which they or any of them may incur by reason of the failure of the Subscriber to fulfill any
of the terms of this Agreement, or by reason of any breach of the representations and warranties made by the Subscriber, or in
any document provided by the Subscriber to the Company.

 

 

    	 	4	 

     

    

 

9.                 
Representative Capacity. The Subscriber represent and warrants that the individual signing on behalf of the Subscriber
has all right and authority, in his or her capacity as an officer, managing member, managing partner or other duly authorized representative
of the Subscriber to make such decision to invest in the Company and to execute and deliver this Agreement on behalf of the Subscriber,
enforceable in accordance with its terms.

 

10.                Subscription Not Revocable. The undersigned hereby acknowledges and agrees that the Subscriber is not entitled to
cancel, terminate or revoke this Agreement or any agreement or document of the Subscriber related to this Agreement and that this
Agreement shall survive the dissolution, death or disability of the person signing this Agreement on behalf of the Subscriber.

 

11.                Restrictions
on Transferability. The Subscriber understands and agrees that the Shares shall not be sold, pledged, hypothecated or otherwise
transferred unless the Shares are registered under the Securities Act and applicable state securities laws or an exemption from
such registration is available.

 

12.                Governing
Law; Jurisdiction; Jury Trial. This Subscription Agreement is being delivered and is intended to be performed in the State
of California and shall be construed and enforced in accordance with the laws of the State of Nevada which shall govern the rights
of parties without regard to conflict of laws principles. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in Orange County, California for the adjudication of any dispute arising out of or related
to this Agreement or with any transaction contemplated by this Agreement or discussed herein, and hereby irrevocably waives, and
agrees not to assert in any lawsuit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such lawsuit, action or proceeding is brought in an inconvenient forum or that the venue of such lawsuit,
action or proceeding is improper. EACH PARTY 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 AGREEMENT OR ANY TRANSACTION
CONTEMPLATED HEREBY.

 

13.                Numbers
and Gender. In this Agreement, the masculine gender includes the feminine gender and the neuter, and the singular includes
the plural, where appropriate to the context.

 

[THE
balance of this page is left blank intentionally]

 

 

 

 

    	 	5	 

     

    

 

QUESTIONNAIRE

 

ACCREDITED INVESTOR STATUS

 

Please check one or more of the following
definitions of “accredited investor,” if any, which applies to you. If none of the following applies to you,
please leave a blank.

 

	____ (a)	A Bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; any broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934, as amended; an insurance company as defined in Section 2(13) of the Securities Act of 1933, as amended; an investment company registered under the Investment Company Act of 1940 or a business development company as defined in Section 2(a)(48) of that act; a Small Business Investment Company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; any plan established and maintained by a state, or its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974, if the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such act, which is either a bank, savings and loan association, insurance company, or registered investment advisor, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons that are Accredited Investors.
	 	 
	____ (b)	A Private Business Development Company as defined in Section 202(a) (22) of the Investment Advisers Act of 1940.
	 	 
	____ (c)	An organization described in Section 501(c)(3) of the Internal Revenue Code or corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000.
	 	 
	____ (d)	A natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of purchase exceeds $1,000,000, excluding the value of the person’s primary residence.
	 	 
	____ (e)	A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.
	 	 
	____ (f)	Any trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D.
	 	 
	____ (g)	Any entity in which all of the equity owners are Accredited Investors.

 

 

 

    	 	6	 

     

    

 

Your signature on
this Signature Page evidences your agreement to be bound by the Questionnaire and the Share Subscription Agreement.

 

The undersigned represents
that (a) they have read and understands this Subscription Agreement, (b) the information contained in this Questionnaire is complete
and accurate and (c) they will contact the Company immediately if any material change in any of this information occurs before
the acceptance of his/her subscription and will promptly sent the Company written confirmation of such change.

 

IN WITNESS WHEREOF,
the undersigned has executed this Questionnaire and Subscription Agreement on the date set forth below.

 

Date of Execution: January 17, 2020

 

	 	Homie Doroodian
	 	 
	 	 
	 	By: /s/ Homie Doroodian                      
	 	Name: Homie Doroodian
	 	Address: 1541 N. Martel Avenue
	 	Los Angeles, California 90046
	 	 

 

 

Approved this 17th day of January 2020

PharmaCyte Biotech, Inc.

 

By: /s/ Kenneth L. Waggoner                      

Name:  Kenneth L. Waggoner

Title: Chief Executive Officer

President and General Counsel

 

 

 

 

 

 

    	 	7

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