Document:

bvtk_ex101.htm

EXHIBIT 10.1
  
 STOCK PURCHASE AGREEMENT
  
 THIS STOCK PURCHASE AGREEMENT (this “Agreement”) is made and entered into as of this 25th day of October, 2017, by and between Johnny Bolton (“Seller”) and Bravatek Solutions, Inc., a Colorado corporation (“Buyer”). Capitalized terms used and not otherwise defined herein shall have the definitions assigned thereto in Section 10 below.
  
 R E C I T A L S
  
 WHEREAS, Buyer desires to acquire certain stock and business operations owned by Seller, and Seller is willing to sell such stock and business operations to Buyer, on the terms and conditions set forth in this Agreement.
  
 A G R E E M E N T
  
 NOW, THEREFORE, the parties, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, agree as follows:
  
 1. STOCK PURCHASE; PURCHASE PRICE.
  
  	  
	1.1.	Stock Purchase. Subject to the provisions of Section 1.2 below, on the Closing Date (as hereinafter defined), Buyer agrees to acquire, and Seller agrees to convey, transfer and deliver to Buyer, one hundred percent (100%) of Seller’s stock of Helpcomm, Inc., a Virginia corporation (such company the “Company,” and such stock the “Shares”), which operates telecommunications construction services business (the “Business”) and possesses certain assets used directly in connection with or otherwise associated with the Business (the “Business Assets”). The Business Assets as of Closing shall include all tangible and intangible property related to the Business, including, but not limited to, customer lists, contracts, records, goodwill and other intangible assets, bank accounts, real property, equipment, furniture, computers, office supplies and related goodwill, policy manuals, and price lists.
	  
	  
	  

	  
	1.2.	Seller’s Liabilities and Obligations. Buyer shall not be obligated to assume, and shall not be deemed to have assumed, any of the liabilities and obligations of Seller related to the Company, Business or otherwise except for those liabilities and obligations, if any, identified on Schedule 1.2 attached hereto, which shall be completed and executed by Buyer and Seller, and which Buyer shall assume at closing.
	  
	  
	  

	  
	1.3.	Purchase Price. In consideration for the transfer of Seller’s Shares of the Company, Buyer shall deliver to Seller the purchase price consisting of $25,000 of cash and 100,000 shares of Series D Preferred Stock of Buyer (such shares the “Preferred Shares” and such cash together with the Preferred Shares collectively the “Purchase Price”), which series of preferred stock shall have been designated on a Certificate of Designation in the form attached hereto as Exhibit A.

  
 2. CLOSING.
  
  	  
	2.1.	 Closing.

  
  	  
	2.1.1.	Closing Date. Subject to the satisfaction of the conditions set forth herein, the transaction which is the subject of this Agreement shall be closed on November __, 2017 (the “Closing” and/or “Closing Date”).
	  
	  
	  

	  
	2.1.2.	Effect. The parties acknowledge that after Closing, the Company shall be owned 100% by Buyer, and Seller shall have no rights or other interest in the Company, shall not receive any payment, profit or other distribution from the Company, and shall have no further right to any of the Company’s assets, including its book of business, regardless of whether such asset became an asset of the Company before or after Closing.

  
  	 
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	2.2.	Deliveries by Seller. At the Closing, Seller shall deliver the following:

  
  	  
	2.2.1.	The stock certificate(s) representing the Shares and duly endorsed stock power(s) sufficient to transfer the Shares to Buyer;
	  
	  
	  

	  
	2.2.2.	An original counterpart of Schedule 1.2, which shall be completed and agreed to by Buyer and Seller prior to Closing.
	  
	  
	  

	  
	2.2.3.	An original counterpart of the Nonsolicitation, Nondisclosure and Noncompetition Agreement, in the form attached hereto as Exhibit B (the “Nonsolicitation, Nondisclosure and Noncompetition Agreement”), executed by Seller.
	  
	  
	  

	  
	2.2.4.	An original counterpart of an Employment Agreement by and between Buyer and Seller in a form satisfactory to both Seller and Buyer (“Seller’s Employment Agreement”), executed by Seller.
	  
	  
	  

	  
	2.2.5.	An original counterpart of an Employment Agreement by and between Buyer and Seller’s son, Johnathan Bolton in a form satisfactory to both Seller and Buyer (“Johnathan Bolton’s Employment Agreement), executed by Johnathan Bolton.
	  
	  
	  

	  
	2.2.6.	All documentation required, if any, to permit Buyer to continue to operate the Business.
	  
	  
	  

	  
	2.2.7.	Such other documents, including certificates and third-party consents or releases, as may be required hereunder or as reasonably requested by Buyer to complete the transactions contemplated in this Agreement.

  
  	  
	2.3.	Deliveries by Buyer. At the Closing, Buyer will cause payment to Seller to be initiated pursuant to Section 1.3 and will deliver the following:

  
  	  
	2.3.1.	Instructions to Buyer’s transfer agent instructing it to issue the Preferred Shares to Seller or Seller’s assignee.
	  
	  
	  

	  
	2.3.2.	An original counterpart of Schedule 1.2, which shall be completed and agreed to by Buyer and Seller prior to Closing.
	  
	  
	  

	  
	2.3.3.	An original counterpart of the Nonsolicitation, Nondisclosure and Noncompetition Agreement, executed by Buyer.
	  
	  
	  

	  
	2.3.4.	An original counterpart of Seller’s Employment Agreement executed by Buyer.
	  
	  
	  

	  
	2.3.5.	An original counterpart of Johnathan Bolton’s Employment Agreement executed by Buyer.
	  
	  
	  

	  
	2.3.6.	Such other documents, including certificates and permits, as may be required hereunder or as reasonably requested by Seller to complete the transactions contemplated in this Agreement.

  
  	 
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 3. SELLERS’ REPRESENTATIONS AND WARRANTIES. Seller represents and warrants to Buyer that the following are true, correct and complete as of the date of this Agreement:
  
  	  
	3.1.	Authority. Seller has all requisite right, power and authority to: (i) execute and deliver this Agreement and its related documents and perform its obligations hereunder and thereunder, and (ii) consummate the transactions contemplated in this Agreement. There are no agreements, contracts or commitments to which the Seller is a party that would prohibit or restrict the transactions contemplated under this Agreement. No consent, approval, order, or other authorization of any governmental or regulatory authority is required with respect to Seller’s execution and delivery of this Agreement or any related document, or consummation of the transactions contemplated herein or therein. When executed and delivered by Seller, this Agreement constitutes the valid and binding obligation of Seller enforceable in accordance with its terms.
	  
	  
	  

	  
	3.2.	No Encumbrances. The Shares have not been pledged as security or otherwise encumbered.
	  
	  
	  

	  
	3.3.	Organization; Good Standing; Qualification. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Virginia, and has all requisite power and authority to own and operate its properties and assets and to carry on its business as now conducted and as presently proposed to be conducted. To Seller’s knowledge, the Company is currently in material compliance with all State and Federal laws rules, regulations and guidelines (including, by way of example, those established under HIPAA and OSHA rules) governing or relating to the conduct of the Business.
	  
	  
	  

	  
	3.4.	Company Capitalization. Seller is currently the sole owner of the Company, and after the Closing, Buyer will be the sole owner of the Company. At the Closing, the Shares shall have been duly authorized and validly issued, fully paid and nonassessable, and issued in accordance with the registration or qualification provisions of the Securities Act of 1933, as amended (the “Securities Act”) and any relevant state securities laws, or pursuant to valid exemptions therefrom. There are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal) or agreements for the purchase or acquisition from the Company of any of its ownership interests or other securities or interests of the Company. Except for its Bylaws, the Company is not a party to or subject to any agreement or understanding that affects or relates to the voting or giving of written consents with respect to any security or the voting by shareholder or officer of the Company.
	  
	  
	  

	  
	3.5.	Offering. The transfer of the Shares as contemplated by this Agreement is exempt from the registration requirements of the Securities Act, and neither Seller nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption.
	  
	  
	  

	  
	3.6.	Books and Records. The books and records of the Company are, and have been, maintained in the usual, regular, ordinary and appropriate manner by the Company, all of the transactions of the Company are properly reflected therein, and they are a true and accurate representation of the financial position of the Company.
	  
	  
	  

	  
	3.7.	Ownership of Business Assets; Condition of Tangible Business Assets. At Closing, Buyer shall acquire all of Seller’s right, title, and interest in the Company, which Company shall own the Business Assets, free and clear of Encumbrances, and in “AS-IS” condition. The Business Assets are in good condition and repair, subject to ordinary wear and tear, and are adequate and fit for the uses for which they are intended or being used.
	  
	  
	  

	  
	3.8.	Transaction Not a Breach. The execution and delivery of this Agreement and its related documents, the performance by Seller hereunder, and the consummation of the transactions described herein, will not conflict with or violate (i) any law, ordinance, regulation, order, award, judgment, injunction or decree applicable to Seller or to the Business Assets, or (ii) conflict with or result in a breach of or constitute a default under any of the terms, conditions or provisions of the articles of incorporation, bylaws, or other instruments of formation or organization of Seller.

  
  	 
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	3.9.	Listings and Other Data. All books of business, receivable listings, customer lists and all other information, reports and data made available or provided to Buyer by Seller are true, correct, and accurate in all material respects as of the date provided or made available, as of the date of this Agreement. Seller has no present knowledge of any intent of any current customer or vendor to modify or terminate any of its outstanding orders or contracts, and Seller has received no notice to such effect.
	  
	  
	  

	  
	3.10.	Taxes and Tax Returns. Seller has filed all federal, state, county, local and foreign tax returns, which it was required to filed with respect to the Company, and such returns are true and accurate. The Seller, on behalf of the Company, has paid, or made adequate provisions for the payment of, all Taxes, interest, penalties, assessments or deficiencies, which have or may become due pursuant to said returns, or pursuant to any assessment received with respect thereto. The Company has paid in full, or will arrange for payment in full, all state and federal employee income tax withholding, federal social security tax (FICA) withholding, employment taxes, unemployment insurance, sales and use taxes, business or license fees, and any other business-related Taxes or governmental charges. There are no outstanding claims for Taxes (whether income taxes, employment taxes, sales taxes, property taxes or otherwise) imposed by any federal, state, local or other governmental agency, authority or subdivision, which are or may become liens on the property transferred hereunder. Seller shall be responsible for the payment of any and all Taxes (including, but not limited to, employment taxes), licenses, assessments or other legal obligations relating to the operation and ownership of the Company prior to the Closing.
	  
	  
	  

	  
	3.11.	Litigation; Compliance with Laws; Licenses and Permits. There is no Proceeding pending or, to the knowledge of Seller, threatened against or involving Seller, the Company, Business or the Business Assets, or the propriety of this Agreement or any of the transactions contemplated hereby, at law or in equity, or before or by any court, arbitrator or governmental authority, and the Business are not being operated under or subject to any order, final non-appealable judgment, decree, license or injunction of any court, arbitrator or governmental authority.
	  
	  
	  

	  
	3.12.	Absence of Adverse Changes. There has been no material adverse change, or any event, condition or occurrence that is reasonably likely to result in a material adverse change, to the condition of the Business Assets or the business operations of the Business.
	  
	  
	  

	  
	3.13.	Contracts. Seller has provided to Buyer true and complete copies of all material contracts to which the Company is a party or which relate to the Business, including without limitation all current customer and vendor contracts relating to the Business (the “Material Contracts”). There are no material agreements relating to the Business, whether verbal or written, that have not been disclosed to Buyer. All of the Material Contracts are in full force and effect and are valid and enforceable according to their terms, and there are no material breaches or defaults thereunder, and no condition exists, including the transfer of the Shares to the Buyer pursuant to this Agreement, that would cause, whether by passage of time or otherwise, a breach or default thereunder, or which would require the consent of a Material Contract counterparty. Seller has not entered into any agreement or understanding, whether written or oral, that waives any of its respective rights under any of the contracts.
	  
	  
	  

	  
	3.14.	Liabilities. Except as set forth in Schedule 3.14 attached hereto, the Company has no Liabilities (as defined below), including any indebtedness, including without limitation, money borrowed, indebtedness owed to the Seller, the deferred purchase price of assets, letters of credits or capitalized leases, other than trade accounts payable generated by the Company or any Company Subsidiary in the Ordinary Course of Business. “Liability” or “Liabilities” shall mean any debt, loss, damage, adverse claim, fine, penalty, Taxes, liability or obligation (whether direct or indirect, known or unknown, asserted or unasserted, absolute or contingent, accrued or unaccrued, matured or unmatured, determined or determinable, disputed or undisputed, liquidated or unliquidated, or due or to become due, and whether in contract, tort, strict liability or otherwise), and including all costs and expenses relating thereto (including all fees, disbursements and expenses of legal counsel, experts, engineers and consultants and costs of investigation).

  
  	 
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	3.15.	Environmental Issues. In connection with the Business or at the business location, Seller has not transported, stored, maintained, used, manufactured or released any hazardous material or other environmentally sensitive material or substance in violation of any applicable legal or regulatory requirement.
	  
	  
	  

	  
	3.16.	Solvency. Neither Seller nor the Business have been the subject of any bankruptcy proceedings (whether voluntary or involuntary), made an assignment for the benefit of creditors, been adjudicated bankrupt or insolvent, petitioned for or been assigned any receiver or trustee relating to the Business or any of the Business Assets, commenced any reorganization or restructuring of debt, or otherwise failed to fulfill its payment obligations in the ordinary course. None of the above has been commenced or threatened against Seller or the Business.
	  
	  
	  

	  
	3.17.	Brokers. Seller has not engaged, or incurred any unpaid liability (for any brokerage fees, finders’ fees, commissions or otherwise) to, any broker, finder or agent in connection with the transactions contemplated by this Agreement.
	  
	  
	  

	  
	3.18.	Disclosure. No representation or warranty by Seller and no document furnished by Seller pursuant to this Agreement or otherwise in connection herewith contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact necessary in order to make the statements contained therein, in light of the circumstances under which made, not misleading.
	  
	  
	  

	  
	3.19.	Employees. Seller has delivered to Buyer the names and annual rates of salary and other compensation (including benefits) of all employees of the Company. To the best of Seller’s knowledge, the Company has complied with all applicable federal, state and local laws, ordinances or regulations relating to such employees, including regulations promulgated by the United States Department of Labor, including provisions relating to wages and hours and overtime, and neither Seller nor the Company is liable for any arrears of wages or employee benefits, or any taxes or penalties for failure to comply with any such laws, ordinances or regulations. Seller is not aware of any pending claims nor aware of facts supporting any potential claims for employment discrimination or similar issues.
	  
	  
	  

	  
	3.20.	Representations Regarding the Seller’s Acquisition of the Preferred Shares.

  
 (a) Seller understands the speculative nature and the risks of investments associated with Buyer and its securities and confirms that it is able to bear the risk of investment in Buyer;
  
 (b) Seller has reviewed Buyer’s filings with the United States Securities and Exchange Commission (“SEC”), including its recent annual and quarterly reports, and has had the opportunity to ask questions of Buyer and receive additional information about Buyer, or could acquire such additional information without unreasonable effort or expense necessary to evaluate the merits and risks of receiving the Preferred Shares in consideration of Seller’s sale of the Shares to Buyer. Further, Seller has been given an opportunity to question Buyer and receive all relevant documentation relating to the Preferred Shares;
   	 
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 (c) Seller has sufficient knowledge and experience in financial and business matters, and is sufficiently familiar with investments of the type represented by the Preferred Shares, including familiarity with previous private and public purchases of speculative and restricted securities, that it is capable of evaluating the merits and risks associated with receipt of the Preferred Shares; 
  
 (d) In evaluating the merits of receiving the Preferred Shares, Seller has relied solely on his, her or its own investigation concerning the Company and has not relied upon any representations provided by Buyer which it has not independently verified; and
  
 (e) Seller and its principals have not: (a) been party to any adverse proceeding brought by the SEC or any similar state agency; (b) any material criminal proceeding regarding the purchase or sale of securities or other crimes, excluding only misdemeanor crimes; or (c) filed bankruptcy proceedings within the past five years. 
  
 4. BUYER’S REPRESENTATIONS AND WARRANTIES. Buyer represents and warrants to Seller that the following are true, correct and complete as of the date of this Agreement:
  
  	  
	4.1.	Authority. Buyer has all requisite right, power and authority to: (i) execute and deliver this Agreement and its related documents and perform his obligations hereunder and thereunder, and (ii) consummate the transactions contemplated in this Agreement. There are no agreements, contracts, or commitments to which Buyer is a party that would prohibit or restrict the transactions contemplated under this Agreement. No consent, approval, order, or other authorization of any governmental or regulatory authority is required with respect to Buyer’s execution and delivery of this Agreement or any related document, or consummation of the transactions contemplated herein or therein. When executed and delivered by Buyer, this Agreement constitutes the valid and binding obligation of Buyer enforceable in accordance with its terms.
	  
	  
	  

	  
	4.2.	No Encumbrances. The Preferred Shares have not been pledged as security or otherwise encumbered.
	  
	  
	  

	  
	4.3.	Organization; Good Standing; Qualification. The Company is a corporation duly organized, validly existing, and in good standing under the laws of the State of Texas, and has all requisite power and authority to own and operate its properties and assets and to carry on its business as now conducted and as presently proposed to be conducted.
	  
	  
	  

	  
	4.4.	Preferred Shares. At the Closing, the Preferred Shares shall have been duly authorized and validly issued, fully paid and nonassessable, and issued in accordance with the registration or qualification provisions of the Securities Act and any relevant state securities laws, or pursuant to valid exemptions therefrom. There are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal) or agreements for the purchase or acquisition from the Company of any of its Series D Preferred Stock. 
	  
	  
	  

	  
	4.5.	Offering. The issuance of the Preferred Shares as contemplated by this Agreement is exempt from the registration requirements of the Securities Act, and neither Buyer nor any authorized agent acting on its behalf will take any action hereafter that would cause the loss of such exemption.
	  
	  
	  

	  
	4.6.	Transaction Not a Breach. The execution and delivery of this Agreement and its related documents, the performance by Buyer hereunder, and the consummation of the transactions described herein, will not conflict with or violate (i) any law, ordinance, regulation, order, award, judgment, injunction or decree applicable to Buyer, or (ii) conflict with or result in a material breach of any contract, agreement, or other instrument, obligation or understanding of any nature to which Buyer is a party or by which Buyer is bound or affected.

  
  	 
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	4.7.	Brokers. Buyer has not engaged, or incurred any unpaid liability (for any brokerage fees, finders’ fees, commissions or otherwise) to, any broker, finder or agent in connection with the transactions contemplated by this Agreement.
	  
	  
	  

	  
	4.8.	Litigation. There is no Proceeding pending or, to the knowledge of Buyer, threatened against or involving Buyer, the propriety of this Agreement or any of the transactions contemplated hereby, at law or in equity, or before or by any court, arbitrator or governmental authority, that could materially affect this Agreement.
	  
	  
	  

	  
	4.9.	Disclosure. No representation or warranty by Buyer and no document furnished by Buyer pursuant to this Agreement or otherwise in connection herewith contains or will contain any untrue statement of a material fact or omits or will omit to state any material fact necessary in order to make the statements contained therein, in light of the circumstances under which made, not misleading.
	  
	  
	  

	  
	4.10.	Representations Regarding the Buyer’s Acquisition of the Shares.

  
 (a) Buyer understands the speculative nature and the risks of investments associated with the Company and confirms that it is able to bear the risk of investment in the Company;
  
 (b) Buyer has had the opportunity to ask questions of the Seller and receive additional information about the Company, or could acquire it without unreasonable effort or expense necessary to evaluate the merits and risks of any such purchase. Further, Buyer has been given an opportunity to question the Seller and receive all relevant documentation relating to the Shares;
  
 (c) Buyer has sufficient knowledge and experience in financial and business matters, and is sufficiently familiar with investments of the type represented by the Shares, including familiarity with previous private and public purchases of speculative and restricted securities, that it is capable of evaluating the merits and risks associated with purchase of the Shares; 
  
 (d) In evaluating the merits of the purchase of the Shares, Buyer has relied solely on its own investigation concerning the Company and has not relied upon any representations provided by the Seller which it has not independently verified; and
  
 (e) Buyer and its principals have not: (a) been party to any adverse proceeding brought by the SEC or any similar state agency; (b) any material criminal proceeding regarding the purchase or sale of securities or other crimes, excluding only misdemeanor crimes; or (c) filed bankruptcy proceedings within the past five years. 
  
 5. ADDITIONAL COVENANTS.
  
  	  
	5.1.	Expenses. Unless expressly stated otherwise herein, each of Buyer and Seller will bear their own respective costs and expenses incurred in connection with the preparation and execution of this Agreement and its related documents, and the consummation of the transactions contemplated herein, including without limitation all legal fees and expenses, and fees arising from accountants, tax and financial advisors.

  
  	 
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	5.2.	Confidentiality.

  
  	  
	5.2.1.	Each party agrees that it will (i) not disclose the other party’s Confidential Information to any third party; and (ii) protect all Confidential Information of the other party from unauthorized use, access, or disclosure in the same manner as it protects its own Confidential Information of a similar nature, and in no event with less than reasonable care. Upon the disclosing party’s written request, the receiving party will promptly return any Confidential Information identified in the request to the disclosing party. “Confidential Information” shall mean any information that is proprietary or non-public regarding any party, including without limitation, customer and vendor lists, business plans, network design and structure, and financial information. Confidential Information shall include the terms of this Agreement.
	  
	  
	  

	  
	5.2.2.	The foregoing restrictions will not apply to information that: (i) is or becomes generally known or available by publication, commercial use or otherwise through no fault of the receiving party or of any third party with a duty to keep such information confidential; (ii) is known to the receiving party at the time of disclosure without violation of any confidentiality restriction and without any restriction on the receiving party’s further use or disclosure; or (iii) is independently developed by the receiving party.

  
  	  
	5.3.	Publicity; Press Releases. The parties agree to consult with each other in good faith concerning any public reports, statement, press releases or other publicity (“Publicity”) regarding this Agreement or the transactions hereunder, but in no case will either party disclose in connection with any such Publicity any financial aspect of the Agreement or the transactions hereunder (including without limitation the Purchase Price) without the other party’s prior written consent; provided, however that any party shall be entitled to give notices or provide information regarding this Agreement or the transactions to governmental or regulatory authorities, creditors, legal and financial advisors, and others as legally required; and further provided, that nothing in this section shall prohibit Buyer from issuing a press release or other Publicity indicating new ownership of the Business (excepting financial information, as set forth above).

  
 6. CONDITIONS PRECEDENT.
  
  	  
	6.1.	Conditions Precedent to Buyer’s Obligations. The obligations of Buyer to consummate the transactions contemplated hereunder and to proceed with the Closing are subject to the fulfillment of the following conditions, any of which may be waived in whole or in part by Buyer in writing.

  
  	  
	6.1.1.	Accuracy of Representations and Warranties. The representations and warranties of Seller contained in Section 3 of this Agreement shall be true, complete, and accurate in all material respects as of the Closing Date.
	  
	  
	  

	  
	6.1.2.	Compliance with Agreement. Seller shall have complied with all obligations, agreements, commitments and covenants, and shall have fulfilled all conditions, required by this Agreement and its related documents to be performed or complied with on or prior to the Closing Date.
	  
	  
	  

	  
	6.1.3	Authority; Third-Party Consents. All actions necessary to authorize the execution, delivery, and performance hereunder by Seller shall have been undertaken and completed. Any filings, registrations, notices, consents, releases and approvals required by Seller from any governmental entity or other third party for the performance of Seller’s obligations hereunder shall have been obtained. To the extent that any of such consents or approvals for any contract or obligation to be assumed by Buyer have not been obtained prior to the Closing, and Buyer elects to close the transactions hereunder prior to receiving any such consent or approval, Seller and Buyer each agree to exercise best efforts to obtain such consent or approval as soon as reasonably feasible following the Closing, and Seller agrees in the meantime to facilitate Buyer’s receipt of the benefit of such assumed contracts and Buyer’s payment of any amounts due under the applicable assumed contracts until such consent or approval has been obtained.
	  
	  
	  

	  
	6.1.4.	Business Location. Any documentation necessary to ensure Company’s continued occupancy and use of the Company’s current office location shall have been obtained.

  
  	 
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	6.1.5.	Reasonable Satisfaction. The form and substance of all certificates, notices, actions, and documents required to consummate the transactions contemplated hereunder shall have been reasonably satisfactory to Buyer and its counsel, and Buyer shall have completed its review of Company’s books and records and shall be reasonably satisfied that the Company is auditable in a timely fashion in Buyer’s sole discretion.
	  
	  
	  
	  

	  
	 6.2.
	Conditions Precedent to Seller’s Obligations. The obligations of Seller to consummate the transactions contemplated hereunder and to proceed with the Closing are subject to the fulfillment of the following conditions, any of which may be waived in whole or in part by Seller in writing.
	  
	  
	  
	  

	  
	  
	6.2.1.	Accuracy of Representations and Warranties. The representations and warranties of Buyer contained in Section 4 of this Agreement shall be true, complete, and accurate in all material respects as of the Closing Date.
	  
	  
	  
	  

	  
	  
	6.2.2.	Compliance with Agreement. Buyer shall have complied with all obligations, agreements, commitments and covenants, and shall have fulfilled all conditions, required by this Agreement and its related documents to be performed or complied with on or prior to the Closing Date.
	  
	  
	  
	  

	  
	  
	6.2.3.	Authority; Third-Party Consents. All actions necessary to authorize the execution, delivery, and performance hereunder by Seller shall have been undertaken and completed. Any filings, registrations, notices, consents, releases and approvals required by Seller from any governmental entity or other third party for the performance of Seller’s obligations hereunder shall have been obtained. To the extent that any of such consents or approvals for any contract or obligation to be assumed by Buyer have not been obtained prior to the Closing, and Buyer elects to close the transactions hereunder prior to receiving any such consent or approval, Seller and Buyer each agree to exercise best efforts to obtain such consent or approval as soon as reasonably feasible following the Closing, and Seller agrees in the meantime to facilitate Buyer’s receipt of the benefit of such assumed contracts and Buyer’s payment of any amounts due under the applicable assumed contracts until such consent or approval has been obtained.
	  
	  
	  
	  

	  
	  
	6.2.4.	Reasonable Satisfaction. The form and substance of all certificates, notices, actions, and documents required to consummate the transactions contemplated hereunder shall have been reasonably satisfactory to Seller and its counsel, and Seller shall have completed his analysis of a partial disposition of the Purchase Price to Johnathan Bolton, which disposition as determined by Seller in his sole discretion Buyer shall be obligated to approve.

  
 7. INDEMNIFICATION.
  
  	  
	7.1.	Indemnification by Seller. Seller shall defend, indemnify and hold harmless Buyer and each of Buyer’s officers, directors, shareholders, employees, counsel, agents, and their respective successors and assigns (collectively, the “Buyer Indemnitees”) from and against, and shall reimburse Buyer Indemnitees for, each and every Loss incurred by any Buyer Indemnitee, including reimbursement of attorneys fees and costs, directly or indirectly, arising out of or in connection with: (i) any material inaccuracy in any representation or warranty of Seller hereunder; (ii) any material breach or nonfulfillment of any covenant, agreement or other obligation of Seller under this Agreement or any related documents; (iii) any debt, obligation, liability, or other similar claim of Seller not expressly assumed by Buyer hereunder; and (iv) any debt, obligation, Liability, or other similar claim of the Company not expressly disclosed in Schedule 3.14.

  
  	 
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	7.2.	Indemnification by Buyer. Buyer shall defend, indemnify and hold harmless Seller and each of Seller’s officers, directors, shareholders, employees, counsel, agents, and their respective successors and assigns (collectively, the “Seller Indemnitees”) from and against, and shall reimburse the Seller Indemnitees for, each and every Loss incurred by any Seller Indemnitee, directly or indirectly, arising out of or in connection with: (i) any material inaccuracy in any representation or warranty of Buyer hereunder; (ii) any material breach or nonfulfillment of any covenant, agreement or other obligation of Buyer under this Agreement or any related documents; (iii) any debt, obligation, liability, or other similar claim of Seller expressly assumed by Buyer hereunder; and (iv) any debt, obligation, Liability, or other similar claim of the Company expressly disclosed in Schedule 3.14.
	  
	  
	  

	  
	7.3.	Indemnification Procedure. If any Proceeding shall be brought or asserted against a party entitled to indemnification (or any successor thereto) pursuant to Sections 7.1 or 7.2 (each, an “Indemnitee”) in respect of which indemnity may be sought under this Section 7 from an indemnifying party or any successor thereto (each, an “Indemnitor”), the Indemnitee shall give prompt written notice of such Proceeding to the Indemnitor. The Indemnitee shall, reasonably and in good faith, assist and cooperate in the defense thereof. Notwithstanding anything herein to the contrary, the Indemnitor shall not, without the Indemnitee’s prior written consent, settle or compromise any Proceeding or consent to the entry of judgment with respect thereto.

  
 8. MISCELLANEOUS.
  
  	  
	8.1.	Notices. Any notices from one party to another shall be deemed sufficiently given upon delivery (with the return receipt, the delivery receipt, or the affidavit of messenger), refusal by addressee or notice to the recipient from the Post Office that such notice is undeliverable, if such notice has been mailed by United States registered or certified mail, postage prepaid, or delivered by overnight courier addressed to:

  
 If to Seller:
  
 Johnny Bolton
 _______________________
 _______________________
  
 If to Buyer:
  
 Bravatek Solutions, Inc.
 _______________________
 _______________________
  
  	  
	  
	 or at such other address or addresses as such party may from time to time specify by notice in writing to the other, given in the manner provided in this Section.

	  
	  
	  

	  
	8.2.	2. Waiver; Severability. No delay or failure on the part of any party hereto in exercising any right, power or privilege under any of this Agreement shall impair any such right, power or privilege or be construed as a waiver of any default or any acquiescence therein. The unenforceability or invalidity of any provision of this Agreement shall not affect the enforceability or validity of any other provision.
	  
	  
	  

	  
	8.3.	3. Benefit and Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, beneficiaries, successors and assigns. Except as expressly stated herein, this Agreement shall not confer any rights or remedies on any third party.

  
  	 
	10
	 
 
	 

  
  	  
	8.4.	Entire Agreement; Amendment. The exhibits attached to this Agreement are incorporated herein by reference. This Agreement sets forth the entire understanding of the parties with respect to the subject matter hereto, supersedes all prior oral or written agreements, instruments and understandings with respect to such matters, and may be modified only by instruments signed by the parties. This Agreement may not be amended or modified except by written agreement of the parties hereto.
	  
	  
	  

	  
	8.5.	Survival. All of the covenants of the parties shall survive the execution of this Agreement and the Closing, including without limitation the indemnification obligations of the parties. All of the representations and warranties of the parties shall survive the execution of this Agreement and the Closing, regardless of the parties’ respective due diligence investigations and even if the other party knows or should have known of any misrepresentation or breach of any warranty at the time of Closing, for a period of one year following the Closing.
	  
	  
	  

	  
	8.6.	Further Assurances. Prior to, on, and after the Closing, each party shall execute, deliver and/or furnish to the other party, upon reasonable request, such further information or documents, and do such other acts and things, for the purpose of fulfilling the transactions contemplated hereunder.
	  
	  
	  

	  
	8.7.	Attorneys’ Fees. In the event that any party hereunder brings a Proceeding to enforce this Agreement, the party that prevails in such Proceeding shall be entitled to recover, in addition to all other amounts and relief that may be granted, its reasonable costs and attorneys’ fees incurred in connection with such Proceeding.
	  
	  
	  

	  
	8.8.	Redressability. In the event that any party hereunder brings a Proceeding regarding this Agreement, thirty (30) days prior to the initiation of the Proceeding, the party commencing the action will give written notice of grievances to the opposing party. The opposing party will have the opportunity to redress the grievances within the thirty (30) days, unless another period is expressly permitted under this Agreement.
	  
	  
	  

	  
	8.9.	Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.
	  
	  
	  

	  
	8.10.	Governing Law. This Agreement, the rights and obligations of the parties hereto, and any claims or disputes relating hereto, shall be construed and governed in accordance with the laws of the State of Texas, excluding the choice of law rules thereof.
	  
	  
	  

	  
	8.11.	Headings; Interpretation. The subject headings of Sections of this Agreement are included for purposes of convenience only and shall not affect the construction or interpretation of any of its provisions. This Agreement shall be interpreted as if all the parties had drafted it.

  
 9. DEFINITIONS. In addition to any other definitions contained in this Agreement, the following words, terms, and phrases shall have the following meanings when used in this Agreement.
  
 “Agreement” means this Stock Purchase Agreement.
  
 “Business” has the meaning ascribed thereto in Section 1.1.
  
 “Business Assets” has the meaning ascribed thereto in Section 1.1. 
  
 “Buyer” means Bravatek Solutions, Inc., a Colorado corporation. 
  
 “Buyer Indemnitees” has the meaning ascribed thereto in Section 7.1.
  
  	 
	11
	 
 
	 

  
 “Closing” and “Closing Date” have the meanings ascribed thereto in Section 2.1.1.
  
 “Company” has the meaning ascribed thereto in Section 1.1. 
  
 “Confidential Information” has the meaning ascribed thereto in Section 5.2.1.
  
 “Encumbrance” means any encumbrance, security interest, mortgage, lien, pledge, claim, lease, right of first refusal, option, restrictive easement, charge or other restriction or third party rights.
  
 “Indemnitee” has the meaning ascribed thereto in Section 7.3.
  
 “Indemnitor” has the meaning ascribed thereto in Section 7.3.
  
 “Johnathan Bolton’s Employment Agreement” has the meaning ascribed thereto in Section 2.2.4.
  
 “Knowledge” or “knowledge” (including the terms “knowing” and “knowingly”) will be deemed to be present with any party when the matter in question was brought to the attention of, or if due diligence had been exercised, would have been brought to the attention of the party, or any of its responsible employees.
  
 “Liability” has the meaning ascribed thereto in Section 3.14.
 “Loss” means any loss, damage, injury, harm, detriment, decline in value, liability, claim, demand, cost of any Proceeding, settlement, judgment, award, fine, penalty, tax, fee, charge, cost or expense (including, without limitation, costs associated with avoiding any of the foregoing), and the fees, disbursements and expenses of attorneys, accountants and other professional advisors). 
  
 “Material Contracts” has the meaning ascribed thereto in Section 3.13.
  
 “Nonsolicitation, Nondisclosure and Noncompetition Agreement” has the meaning ascribed thereto in Section 2.2.2.
  
 “Preferred Shares” has the meaning ascribed thereto in Section 1.3.
  
 “Proceeding” means any action, suit, litigation, arbitration, lawsuit, claim, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding, and any informal proceeding), prosecution, contest, hearing, inquiry, audit, examination, investigation, challenge, controversy or dispute commenced, brought or conducted or through any governmental authority, including the courts, or any arbitrator.
  
 “Promissory Note” has the meaning ascribed thereto in Section 1.3.1.
  
 “Publicity” has the meaning ascribed thereto in Section 5.3.
  
 “Purchase Price” has the meaning ascribed thereto in Section 1.3.
  
 “SEC” has the meaning ascribed thereto in Section 3.20(b).
  
 “Securities Act” has the meaning ascribed thereto in Section 3.4.
  
 “Seller Indemnitees” has the meaning ascribed thereto in Section 7.2.
  
 “Seller” means Johnny Bolton. 
  
  	 
	12
	 
 
	 

  
 “Seller’s Employment Agreement” has the meaning ascribed thereto in Section 2.2.3.
  
 “Shares” has the meaning ascribed thereto in Section 1.1. 
  
 “Taxes” means all taxes, charges, fees, levies, duties or other similar assessments, reassessments or liabilities.
  
 “Tax Returns” mean any report, return or statement required to be supplied to a taxing authority in connection with Taxes.
  
 IN WITNESS WHEREOF, the parties have duly executed and delivered this Stock Purchase Agreement effective as of the date first above written.
  
 [SIGNATURE PAGE FOLLOWS]
  
  	 
	13
	 
 
	 

 
 
 
  	 BUYER:
	  
	 SELLER:
	  

			  
	  

	 Bravatek Solutions, Inc.
	  
	 Johnny Bolton
	  

			  
	  

	 /s/ Thomas A. Cellucci
		 /s/ Johnny Bolton
	  

	 Thomas A. Cellucci
		 Individually
	  

	 President & CEO
	  
	  
	  

  
  	 
	14
	 
 
	 

  
 LIST OF EXHIBITS
  
  	 Schedule 1.2
	 --
	 List of Assumed Liabilities

	 Schedule 3.14
	 --
	 Company Liabilities

	 Exhibit A
	 --
	 Certificate of Designation 

	 Exhibit B
	 --
	 Nondisclosure and Noncompetition Agreement

  
  	 
	15
	 
 
	 

 
 
 
 Schedule 1.2
  
 List of Assumed Liabilities
  
 Buyer shall assume the following liabilities and obligations of Seller relating to the Company and Business, specifically:
  
 (i)      [Add SBA Loan details].
  
  
  
  
  
  	 
	16
	 
 
	 

  
 Schedule 3.14
  
 Liabilities
  
  
  
  
  
  
  	 
	17
	 
 
	 

  
 EXHIBIT A
  
 Certificate of Designation
 of 
 Series D Preferred Stock
  
  
  
  
  
  
 [INTENTIONALLY LEFT BLANK]
  
  	 
	A-1
	 
 
	 

  
  
  
 CERTIFICATE OF DESIGNATION OF
 SERIES D PREFERRED STOCK OF
 BRAVATEK SOLUTIONS, INC.
  
 Bravatek Solutions, Inc., a corporation organized and existing under and by virtue of the provisions of the Colorado Revised Statutes (the “Colorado Revised Statutes” or “CRS”)
  
 DOES HEREBY CERTIFY:
  
  	  
	1.	That the name of this corporation is Bravatek Solutions, Inc., and that this corporation was originally incorporated pursuant to the Colorado Revised Statutes on April 19, 2007.
	  
	  
	  

	  
	2.	Pursuant to the authority expressly granted to and vested in the Board of Directors of Bravatek Solutions, Inc. (the “Corporation”) under the Colorado Revised Statutes and by Article 12 of Corporation’s Articles of Incorporation (the “Articles”), there is hereby created, and the Corporation is hereby authorized to issue, a series of convertible preferred stock, $.0001 par value, which shall have, in addition to the rights, restrictions, preferences and privileges set forth in the Articles, the following terms, conditions, rights, restrictions, preferences and privileges:

 
 
 
  	  
	I.	DESIGNATION AND AMOUNT

  
  	  
	a.	A series of convertible preferred stock is hereby designated as “Series D Convertible Preferred Stock” in the amount of One Hundred (100,000) shares (the “Series D Preferred Stock”).

  
  	  
	II.	VOTING

  
  	  
	a.	Each share of Series D Preferred Stock shall not be entitled to any voting rights prior to conversion into Common Stock of the Corporation.

  
  	  
	III.	CONVERSION

  
  	  
	a.	The holders of the outstanding shares of Series D Preferred Stock shall have the following conversion rights (the “Conversion Rights”):

  
  	  
	i.	Right to Convert. At the option of the holder thereof, each share of Series D Preferred Stock shall be convertible, at the office of the Corporation, at any time, into a number of fully paid and non‐assessable shares of the Corporation’s Common Stock equal to $24.00 divided by the volume-weighted average price of the Corporation’s Common Stock as reported on OTCMarkets.com on the trading day immediately preceding conversion so long as such conversion would not result in the holder beneficially owning more than 4.99% of the Corporation’s Common Stock after conversion. As an example for clarity, if the holder elected to convert 1 share of Series D Preferred Stock into Common Stock, and the volume-weighted average price of the Corporation’s Common Stock were $0.005 on the trading date prior to the date of conversion as reported on OTCMarkets.com, such share would convert into 4,800 shares of Common Stock.

  
  	 
	A-2
	 
 
	 

  
  	  
	ii.	Mechanics of Conversion. Each holder of outstanding shares of Series D Preferred Stock who desires to convert the same into shares of Common Stock shall surrender the certificate or certificates therefor, duly endorsed, at the office of the Corporation together with written notice to the Corporation stating that such holder elects to convert the same and the number of shares of Series D Preferred Stock being converted (the “Conversion Notice”). Thereupon, the Corporation shall issue and deliver to such holder a certificate or certificates for the number of shares of Common Stock to which such holder is entitled. Such conversion shall be deemed to have been made on the date of such surrender of the certificate or certificates representing the shares of Series D Preferred Stock to be converted together with the Conversion Notice (the “Conversion Date”), and the person entitled to receive the shares of Common Stock issuable upon such conversion shall be treated for all purposes as the record holder of such shares of Common Stock on the Conversion Date.
	  
	  
	  

	  
	iii.	Adjustment for Stock Splits and Combinations. If the Corporation at any time or from time to time after the date that the Amendment to the Articles creating the Series D Preferred Stock was filed with the Colorado Secretary of State (the “Filing Date”) effects a division of the outstanding shares of Common Stock, the number of shares of Common Stock to be issued upon any conversion shall be proportionately adjusted, and, conversely, if the Corporation at any time, or from time to time, after the Filing Date combines the outstanding shares of Common Stock, the number of shares of Common Stock to be issued upon any conversion shall be proportionately adjusted. Any adjustment under this Section shall be effective on the close of business on the date such division or combination becomes effective.
	  
	  
	  

	  
	iv.	Reorganizations, Mergers, Consolidations or Sales of Assets. If, at any time or from time to time after the Filing Date, there is a capital reorganization of the Common Stock, a merger or consolidation of the Corporation into or with another corporation or a sale of all or substantially all of the Corporation’s properties and assets to any other person, then, as a part of such capital reorganization, merger, consolidation or sale, provision shall be made such that the holders of outstanding shares of Series D Preferred Stock shall thereafter receive upon conversion thereof the number of shares of stock or other securities or property of the Corporation, or of the successor corporation resulting from such merger or consolidation or sale, to which a holder of the number of shares of Common Stock into which their shares of Series D Preferred Stock were convertible would have been entitled on such capital reorganization, merger, consolidation or sale.

  
  	 
	A-3
	 
 
	 

  
  	  
	v.	Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of the shares of Series D Preferred Stock. If any fractional shares result from a conversion, the total number of shares of Common Stock issued upon conversion shall be rounded up to the total number of whole shares of Common Stock issuable upon conversion.

  
  	  
	VI.	NOTICES

  
  	  
	a.	Any notice required or permitted by the provisions of this Article to be given to a holder of shares of Series D Preferred Stock shall be mailed, postage prepaid, to the post office address last shown on the records of the Corporation, or given by electronic communication in compliance with the provisions of the Colorado Business Corporation Act and shall be deemed sent upon such mailing or electronic transmission.

  
  	  
	VII.	NO OTHER RIGHTS DESIGNATED

  
  	  
	a.	Except as expressly designated herein, there are no other rights or preferences related to the Series D Preferred Shares, including without limitation any rights to dividends, liquidation preferences, or seniority to other classes and series of stock.

  
 * * *
  
 3. That the foregoing Certificate of Designation was approved by the holders of the requisite members of the Board of Directors of this Corporation in accordance with Section 7 of the Colorado Revised Statutes.
  
 4. That this Certificate of Designation, which restates and integrates and further amends the provisions of this corporation’s Certificate of Incorporation as provided herein, has been duly adopted in accordance with Section 7 of the Colorado Revised Statutes.
  
 IN WITNESS WHEREOF, this Certificate of Designation of Series D Preferred Stock has been executed by a duly authorized officer of this corporation on this ___ day of ______________, 2017.
  
  
  	 		BRAVATEK SOLUTIONS, INC.	
	 	 	 	 
				
	  
	  
	Thomas A. Cellucci, PhD MBA	 
	 	 	Chief Executive Officer	 

  
  	 
	A-4
	 
 
	 

  
 EXHIBIT B
  
 Nonsolicitation, Nondisclosure and Noncompetition Agreement
  
  
  
  
  
  
 [INTENTIONALLY LEFT BLANK]
  
  
  	 
	B-1
	 
 
	 

  
 NONSOLICITATION, NONDISCLOSURE AND NONCOMPETITION
 AGREEMENT
  
 This Nonsolicitation, Nondisclosure and Noncompetition Agreement (the “Agreement”) is made by Johnny Bolton (“BOLTON”) in favor of Bravatek Solutions, Inc., a Colorado corporation (“BVTK”), effective as of November __, 2017 (the “Effective Date”).
  
 For good and valuable consideration, the parties hereby agree as follows: 
  
 1. Background. Johnny Bolton is selling to Bravatek Solutions, Inc. all of Seller’s stock of Helpcomm, Inc. (the “Company”) pursuant to that certain Stock Purchase Agreement executed concurrently herewith (the “Purchase Agreement”). As part of the sale to BVTK, BVTK is requiring BOLTON to agree to (1) keep information relating to Company and the sale thereof confidential, and (2) agree not to compete, on the terms specified herein, with BVTK beginning on the Effective Date and continuing for a period of five (5) years. This Agreement sets forth the terms and conditions for BOLTON’s nondisclosure, noncompetition, and general release of claims.
  
 2. Confidential Information. As used in this Agreement, “Confidential Information” means any information or data, of any kind or nature furnished by or on behalf of BVTK or its agents, relating to the Company, the Purchase Agreement and the transactions contemplated therein, and whether such information is printed, written, oral, or electronically stored or reproduced, and whether provided in response to a specific inquiry or voluntarily furnished on, before, or after the Effective Date hereof, and includes, but is not limited to: books of business, customer lists and contact information, financial information, records, budgets, minutes, purchase and sale agreements, designs, sketches, drawings, surveys, environmental reports, feasibility studies, marketing plans and materials, business plans, analyses, strategies, forecasts, concepts, ideas, or any information derived, summarized, or extracted from any of the foregoing, including any and all data, reports, records (financial and otherwise), trade secrets, verbal communications, and/or other materials. However, Confidential Information does not include information which: (i) is or becomes publicly known and made generally available in the public domain by publication, commercial use or otherwise through no fault of BOLTON or of any third party with a duty to keep such information confidential either prior to the time of disclosure by BVTK or thereafter; (ii) is known to the receiving party at the time of disclosure without violation of any confidentiality restriction and without any restriction on the receiving party’s further use or disclosure; (iii) is independently developed by the receiving party; or (iv) is approved for release by written agreement of BVTK. Nevertheless, it shall not be a violation of this section 2 for BOLTON to disclose matters related to the Purchase Agreement to attorneys, accountants, financial advisors or the like. 
  
 3. Non-Disclosure of Confidential Information. All Confidential Information is considered highly sensitive and strictly confidential. Accordingly, BOLTON agrees to maintain the Confidential Information in the utmost confidence. BOLTON agrees that he shall take reasonable measures to protect the secrecy of and avoid disclosure and unauthorized use of the Confidential Information of BVTK. Without limiting the foregoing, BOLTON shall take at least those measures that he takes to protect his own confidential information of a similar nature, but in no case less than reasonable care, and BOLTON will not, without the prior written consent of BVTK (except as required by applicable law, regulation, or legal process), disclose the Confidential Information to any person(s). 
  
  	 
	B-2
	 
 
	 

  
 4. Obligation to Disclose Confidential Information. In the event that BOLTON or any of BOLTON’s Representatives is requested or required by applicable law, regulation, or legal process to disclose any of the Confidential Information, BOLTON will notify BVTK in writing immediately (unless prohibited by law) so that BVTK, at its sole expense, may seek an appropriate protective order or other remedy or, in its sole discretion, may waive compliance with the terms of this Agreement, and if BVTK seeks such an order, BOLTON will provide such cooperation at BVTK’s expense and as BVTK shall reasonably request. In the event that (a) no such protective order or other remedy is obtained, or (b) BVTK waives compliance with the terms of this Agreement and BOLTON or any of BOLTON’s Representatives are legally compelled to disclose such Confidential Information, BOLTON or BOLTON’s Representatives, as the case may be, will furnish only that portion of the Confidential Information which BOLTON is advised by counsel is legally required. BOLTON will give BVTK written notice (unless prohibited by law) of the Confidential Information to be disclosed as far in advance as practicable, and will exercise all reasonable efforts to obtain reliable assurance that confidential treatment will be accorded the Confidential Information.
  
 5. Term of Nondisclosure. The covenant of nondisclosure shall continue in perpetuity.
  
 6. Noncompetition & Nonsolicitation Covenants. From the Effective Date and continuing for a period of five (5) years, BOLTON hereby agrees that he shall not, and shall not permit any of his employees, agents or affiliates (“Affiliates”), to do any of the following without the prior written consent of BVTK:
  
 a. Compete. Carry on any business or activity (whether directly or indirectly, as a partner, shareholder, owner, principal, agent, director, affiliate, advisor or consultant) or compete in any way with the business of the Company anywhere within the United States. For the purposes of this Section 6(a), the term “compete in any way with the business of Seller” shall mean engaging in or attempting to engage in any business similar to that carried on by the Company or its affiliates. 
  
 b. Solicit Business. Solicit or influence or attempt to influence any client, customer or other person, either directly or indirectly, to direct such client’s, customer’s or other person’s purchase of the Company’s products and/or services away from the Company or to any person, firm, corporation, institution or other entity other than the Company.
  
 c. Solicit Personnel. Solicit any employee of the Company (or its subsidiaries) for employment who was employed by the Company within six (6) months of the solicitation. For purposes of this Section, the term “solicit” shall not include the following activities by BOLTON: (i) advertising for employment in any bulletin board (including electronic bulletin boards), newspaper, trade journal or other publication available for general distribution to the public; (ii) participation in any hiring fair or similar event open to the public not targeted at the Company’s employees; (iii) use of recruiting or employee search firms that have been instructed by BOLTON not to target any such employee; and (iv) negotiating with and/or offering employment to any such employee who initially contacts BOLTON or one of their affiliates or who engages in discussions with BOLTON or one of their affiliates as a result of any of the activities included in clauses (i)-(iii). BOLTON may employ any such employee provided that neither they nor any of their affiliates has solicited such employee in contravention of this paragraph 6(c).
  
 7. Equitable Relief; Rights Upon Breach. In the event of any breach of this Agreement, BVTK, in addition to any other remedies at law or in equity that it may have, will be entitled to equitable relief including injunctive relief and specific performance. BOLTON agrees that in the event of its breach of any of the covenants set forth in this Agreement, BVTK shall have the right to: (a) receive compensation for actual damages from BOLTON for any losses incurred by reason of such breach, including all reasonable attorneys’ fees and costs of suit; and/or (b) apply to a court of competent jurisdiction for the entry of an immediate order to restrain or enjoin the breach of said covenants and otherwise to specifically enforce the provisions of this Agreement. 
  
 8. [Reserved].
  
  	 
	B-3
	 
 
	 

  
 9. Attorneys’ Fees. In the event any action in law or equity or any arbitration or other proceeding is brought for the enforcement of this Agreement or in connection with any of the provisions of this Agreement, the successful or prevailing party or parties shall be entitled to reasonable attorney’s fees and other costs reasonably incurred in such action or proceeding. 
  
 10. Miscellaneous Terms.
  
 (a) This Agreement may be amended or modified only in writing and signed by all parties.
  
 (b) This Agreement may be executed in two or more counterparts, each of which shall be deemed an original for all purposes and together shall constitute one and the same document. Facsimile and emailed pdf signatures shall be relied on as original signatures in all respects.
  
 (c) The rights under this Agreement may not be assigned or duties delegated without the other party’s prior written consent. Any attempted assignments without such consent shall be void.
  
 (d) This Agreement shall be binding upon the parties and their respective successors and permitted assigns and shall inure to the benefit of the parties and their respective successors and permitted assigns.
  
 (e) This Agreement shall be construed and governed by and under the laws of the State of Texas, without regard to its choice of law principles. Any action, suit, or other legal proceeding which is commenced to resolve any matter arising under or relating to any provision of this Agreement shall be commenced only in a state or federal court of the State of Texas, and each party consents to the jurisdiction of such court and agrees that legal process may be served by United States certified mail, return receipt requested. Venue for any action shall be in Travis County, Texas. Process in any proceeding referred to in the preceding sentence may be served on any party anywhere. 
  
 (f) Confidential Information delivered hereunder shall remain the property of BVTK, and this Agreement shall not be construed as a license or any other grant of any right whatsoever in connection with the Confidential Information.
  
 (g) The invalidity of enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. If a court of competent jurisdiction determines that any restriction in this Agreement is overbroad or unreasonable under the circumstances, such restriction shall be modified or revised by such court to include the maximum reasonable restriction allowed by law. 
  
 (h) No delay or omission by BVTK in exercising any right under this Agreement will operate as a waiver of that or any other right. A waiver or consent given by BVTK on any one occasion is effective only in that instance and will not be construed as a bar to or a waiver of any right on any other occasion. 
  
 (i) This Agreement has been negotiated at arms’ length by and between the parties, each having the opportunity to be represented by legal counsel of its choice and to negotiate the form and substance of this Agreement. Therefore, this Agreement shall not be more strictly construed against any party by reason of the fact that one party may have drafted any or all of the provisions of this Agreement.
  
 11. Entire Agreement. This document, as amended from time to time, contains the entire agreement between the parties. There are no representations, warranties, or understandings between the parties that are not contained herein. This Agreement may not be modified or amended except in writing and signed by the parties hereto.
  
  	 
	B-4
	 
 
	 

  
 IN WITNESS WHEREOF, the parties have executed this Nonsolicitation, Nondisclosure and Noncompetition Agreement and Release of Claims as of the Effective Date first set forth above.
  
  	BOLTON: 		BVTK:	
	  
	  
	  

	  
		 Bravatek Solutions, Inc.
	  

	 	 	 	 
				
	 Johnny Bolton 
	  
	Thomas A. Cellucci, President & CEO	 

  
  
  	 B-5EX-4.1

 Exhibit 4.1 

SAVARA INC. 
 FORM OF
WARRANT TO PURCHASE COMMON STOCK 
  

			
	CUSIP: 805111 168	 	Number of Shares: [                ]
	Warrant No.	 	(subject to adjustment)
		 	Original Issue Date: October 27, 2017

 Savara Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, [                            ]
or its permitted registered assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company up to a total of
[                ] shares of common stock, $0.001 par value per share (the “Common Stock”), of the Company (each such share, a “Warrant Share”
and all such shares, the “Warrant Shares”) at an exercise price per share equal to $0.01 per share (as adjusted from time to time as provided in Section 9 herein, the “Exercise Price”), upon surrender of
this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”) at any time and from time to time on or after the date hereof (the “Original
Issue Date”) and through and including 5:30 P.M., New York City time, on the date that is seven (7) years following the Original Issue Date (the “Expiration Date”), and subject to the following terms and conditions:

 1. Definitions. For purposes of this Warrant, the following terms shall have the following meanings: 

(a) “Commission” means the United States Securities and Exchange Commission. 

(b) “Closing Sale Price” means, for any security as of any date, the last trade price for such security on the Principal
Trading Market for such security, as reported by Bloomberg Financial Markets, or, if such Principal Trading Market begins to operate on an extended hours basis and does not designate the last trade price, then the last trade price of such security
prior to 4:00 P.M., New York City time, as reported by Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the
over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no last trade price is reported for such
security by Bloomberg Financial Markets, the average of the bid and ask prices, of any market makers for such security as reported in the “pink sheets” by Pink Sheets LLC. If the Closing Sale Price cannot be calculated for a security on a
particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair
market value of such security, then the Board of Directors of the Company shall use its good faith judgment to determine the fair market value. The Board of Directors’ determination shall be binding upon all parties absent demonstrable error.
All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period. 

(c) “Principal Trading Market” means the Trading Market on which the Common Stock is primarily listed on and quoted for
trading, which, as of the Original Issue Date shall be the Nasdaq Global Select Market. 
 (d) “Registration Statement”
means the Company’s Registration Statement on Form S-3 (File No. 333-202960), declared effective on August 19, 2015. 

(e) “Securities Act” means the Securities Act of 1933, as amended. 

 

 (f) “Transfer Agent” means American Stock Transfer & Trust Company LLC,
the Company’s transfer agent and registrar for the Common Stock. 
 2. Registration of Warrants. 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 (which shall include the initial Holder or, as the case may be, any registered assignee to which this Warrant is
permissibly assigned hereunder) from time to time. The Company may deem and treat the registered 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. 
 3. Registration of Transfers. Subject to compliance with all applicable securities laws, the
Company shall, or will cause its Transfer Agent to, register the transfer of all or any portion of this Warrant in the Warrant Register, upon surrender of this Warrant, and payment for all applicable transfer taxes. 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 in respect of the New Warrant that the Holder has in respect of this Warrant. The Company shall, or will cause its Transfer Agent to, prepare, issue and deliver at the Company’s own expense any New Warrant under this
Section 3. Until due presentment for registration of transfer, the Company may treat the registered Holder hereof as the owner and holder for all purposes, and the Company shall not be affected by any notice to the contrary. 

4. Exercise and Duration of Warrants. 

(a) All or any part of this Warrant shall be exercisable by the registered Holder in any manner permitted by Section 10 of this
Warrant at any time and from time to time on or after the Original Issue Date and through and including 5:30 P.M. New York City time, on the Expiration Date. At 5:30 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 and this Warrant shall be terminated and no longer outstanding. 
 (b) The
Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached as Schedule 1 hereto (the “Exercise Notice”), completed and duly signed, and (ii) payment of the Exercise
Price for the number of Warrant Shares as to which this Warrant is being exercised (which may take the form of a “cashless exercise” if so indicated in the Exercise Notice pursuant to Section 10 below), and the date on
which the last of such items is delivered to the Company (as determined in accordance with the notice provisions hereof) is an “Exercise Date.” Execution and delivery of the Exercise Notice shall have the same effect as cancellation
of the original Warrant and issuance of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares. 
 5. Delivery of Warrant
Shares. 
 (a) Upon exercise of this Warrant, the Company shall promptly (but in no event later than three (3) Trading Days after
the Exercise Date), upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s or its designee’s balance account with The Depository
Trust Company (“DTC”) through its Deposit Withdrawal Agent Commission system, or if the Transfer Agent is not participating in the Fast Automated Securities Transfer Program (the “FAST Program”) or if the
certificates are required to bear a legend regarding restriction on transferability, issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s share register in the
name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant to such exercise. The Holder, or any Person 

  
 -2- 

 
permissibly so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant Shares as of the Exercise Date, irrespective of the date
such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the case may be. 

(b) To the extent permitted by law, the Company’s obligations to issue and deliver Warrant Shares in accordance with and subject to the
terms hereof (including the limitations set forth in Section 11 below) 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 that might otherwise limit such obligation of the Company to the Holder in connection with the issuance of Warrant Shares.
Nothing herein shall limit the Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, 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. 

6. Charges, Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without
charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense in respect of the issuance of such certificates, 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 that may be payable in respect of any transfer involved in the registration of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof.
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. 

7. 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 (in such case) and, in each
case, a customary and reasonable indemnity and surety bond, if requested by the Company. 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 such mutilated Warrant to the Company as a condition precedent to the Company’s obligation
to issue the New Warrant. 
 8. Reservation of Warrant Shares. The Company covenants that it will at all times while this Warrant is outstanding
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 that are initially issuable and deliverable upon the exercise of this entire Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the Holder (taking into account the adjustments and
restrictions of Section 9). The Company covenants 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 nonassessable. The Company will take all such action as may be reasonably necessary to assure that such shares of Common Stock may be issued as provided herein without violation of any applicable law or
regulation, or of any requirements of any securities exchange or automated quotation system upon which the Common Stock may be listed. 

  
 -3- 

 9. Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this
Warrant are subject to adjustment from time to time as set forth in this Section 9. 
 (a) Stock Dividends and Splits. If the
Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common Stock or otherwise makes a distribution on any class of capital stock issued and outstanding on the Original Issue Date and in accordance with the
terms of such stock on the Original Issue Date or as amended, as described in the Registration Statement, that is payable in shares of Common Stock, (ii) subdivides its outstanding shares of Common Stock into a larger number of shares of Common
Stock, (iii) combines its outstanding shares of Common Stock into a smaller number of shares of Common Stock or (iv) issues by reclassification of shares of capital stock any additional shares of Common Stock of the Company, then in each
such case the Exercise Price shall be multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately before such event and the denominator of which shall be the number of shares of Common Stock
outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or
distribution, provided, however, that if such record date shall have been fixed and such dividend is not fully paid on the date fixed therefor, the Exercise Price shall be recomputed accordingly as of the close of business on such record date and
thereafter the Exercise Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends. Any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the
effective date of such subdivision or combination. 
 (b) Pro Rata Distributions. If the Company, at any time while this Warrant is
outstanding, distributes to all holders of Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security (other than a distribution of Common Stock covered by the preceding paragraph) or (iii) rights or
warrants to subscribe for or purchase any security, or (iv) any other asset (in each case, “Distributed Property”), then, upon any exercise of this Warrant that occurs after the record date fixed for determination of stockholders
entitled to receive such distribution, the Holder shall be entitled to receive, in addition to the Warrant Shares otherwise issuable upon such exercise (if applicable), the Distributed Property that such Holder would have been entitled to receive in
respect of such number of Warrant Shares had the Holder been the record holder of such Warrant Shares immediately prior to such record date without regard to any limitation on exercise contained therein. 

(c) Fundamental Transactions. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation of
the Company with or into another Person, in which the Company is not the surviving entity or the stockholders of the Company immediately prior to such merger or consolidation do not own, directly or indirectly, at least 50% of the voting power of
the surviving entity immediately after such merger or consolidation, (ii) the Company effects any sale to another Person of all or substantially all of its assets in one or a series of related transactions, (iii) pursuant to any tender
offer or exchange offer (whether by the Company or another Person), holders of capital stock who tender shares representing more than 50% of the voting power of the capital stock of the Company and the Company or such other Person, as applicable,
accepts such tender for payment, (iv) the Company consummates a stock purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or
scheme of arrangement) with another Person whereby such other Person acquires more than the 50% of the voting power of the capital stock of the Company or (v) the Company effects any reclassification of the Common Stock or any compulsory share
exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered by Section 9(a)
above) (in any such case, a “Fundamental Transaction”), then following such Fundamental Transaction the Holder shall have the right to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property
as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this
Warrant 

  
 -4- 

 
without regard to any limitations on exercise contained herein (the “Alternate Consideration”). The Company shall not effect any Fundamental Transaction in which the Company is
not the surviving entity or the Alternate Consideration includes securities of another Person unless prior to or simultaneously with the consummation thereof, any successor to the Company, surviving entity or other Person (including any purchaser of
assets of the Company) shall assume the obligation to deliver to the Holder, such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to receive, and the other obligations under this Warrant. The
provisions of this paragraph (c) shall similarly apply to subsequent transactions analogous of a Fundamental Transaction type. 
 (d)
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to paragraphs (a) of this Section 9, the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or
decreased proportionately, so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such
adjustment. 
 (e) Calculations. All calculations under this Section 9 shall be made to the nearest cent or the nearest share,
as applicable. 
 (f) Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at
its expense will, at the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted
Exercise Price and adjusted number or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such
adjustment is based. Upon written request, the Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s transfer agent. 

(g) Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other distribution of
cash, securities or other property in respect of its Common Stock, including, without limitation, any granting of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves,
enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the voluntary dissolution, liquidation or winding up of the affairs of the Company, then, except if such notice and the
contents thereof shall be deemed to constitute material non-public information, the Company shall deliver to the Holder a notice of such transaction at least ten (10) days prior to the applicable record
or effective date on which a Person would need to hold Common Stock in order to participate in or vote with respect to such transaction; provided, however, that the failure to deliver such notice or any defect therein shall not affect the validity
of the corporate action required to be described in such notice. In addition, if while this Warrant is outstanding, the Company authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for any Fundamental
Transaction contemplated by Section 9(c), other than a Fundamental Transaction under clause (iii) of Section 9(c), the Company shall deliver to the Holder a notice of such Fundamental Transaction at least seventy five
(75) days prior to the date such Fundamental Transaction is consummated. 
 10. Payment of Exercise Price. Notwithstanding anything contained
herein to the contrary, the Holder may, in its sole discretion, satisfy its obligation to pay the Exercise Price through a “cashless exercise”, in which event the Company shall issue to the Holder the number of Warrant Shares determined as
follows: 
 X = Y [(A-B)/A] 

where: 

  
 -5- 

 “X” equals the number of Warrant Shares to be issued to the Holder; 

“Y” equals the total number of Warrant Shares with respect to which this Warrant is then being exercised; 

“A” equals the average of the Closing Sale Prices of the shares of Common Stock (as reported by Bloomberg Financial Markets) for
the five (5) consecutive Trading Days ending on the date immediately preceding the Exercise Date; and 
 “B” equals the
Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise. 
 For purposes of Rule 144 promulgated under the Securities
Act, it is intended, understood and acknowledged that the Warrant Shares issued in a “cashless exercise” transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have
commenced, on the date this Warrant was originally issued (provided that the Commission continues to take the position that such treatment is proper at the time of such exercise). In the event that the Registration Statement is, for any reason, not
effective at the time of exercise of this Warrant, then the Warrant may only be exercised through a cashless exercise, as set forth in this Section 10. 

11. Limitations on Exercise. 
 (a)
Notwithstanding anything to the contrary contained herein, the number of Warrant Shares that may be acquired by the Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to ensure that,
following such exercise (or other issuance), the total number of shares of Common Stock then beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the
Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed 9.99% of the total number of then issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such
exercise), it being acknowledged by the Holder that the Company is not representing to such Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and such Holder is solely responsible for any schedules required to
be filed in accordance therewith. To the extent that the limitation contained in this Section 11(a) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by such Holder) and of which a
portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other
securities owned by such Holder) and of which portion of this Warrant is exercisable, in each case subject to such aggregate percentage limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In
addition, a determination under this Section 11(a) as to any group status shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this
Section 11(a), in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as the case may be, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Transfer Agent setting
forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall within three (3) Trading Days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding.
By written notice to the Company, which will not be effective until the sixty-first (61st) day after such notice is delivered to the Company, the Holder may waive the provisions of this Section 11(a) (but such waiver will not affect any
other holder) to change the beneficial ownership limitation to such percentage of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant as the
Holder shall determine, in its sole discretion, subject to Section 11(b), and the provisions of this Section 11(a) shall continue 

  
 -6- 

 
to apply. Upon such a change by a Holder of the beneficial ownership limitation from such 9.99% limitation to such other percentage limitation, the beneficial ownership limitation may not be
further waived by such Holder without first providing the minimum notice required by this Section 11(a). Notwithstanding the foregoing, at any time following notice of a Fundamental Transaction under Section 9(g)(ii) with
respect to a Section 9(c)(iii) Fundamental Transaction, the Holder may waive and/or change the beneficial ownership limitation effective immediately upon written notice to the Company and may reinstitute a beneficial ownership limitation
at any time thereafter effective immediately upon written notice to the Company. 
 (b) Notwithstanding anything to the contrary contained
herein, including Section 11(a), the Company shall not effect any exercise of this Warrant, and the Holder shall not be entitled to exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which,
upon giving effect to such exercise, would cause (i) the aggregate number of shares of Common Stock beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with
the Holder’s for purposes of Section 13(d) of the Exchange Act, to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Company following such exercise, or (ii) the combined voting power of the
securities of the Company beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act to
exceed 19.99% of the combined voting power of all of the securities of the Company then outstanding following such exercise. For purposes of this Section 11(b), the aggregate number of shares of Common Stock or voting securities
beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act shall include the shares of Common
Stock issuable upon the exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (x) exercise of the remaining unexercised and non-cancelled portion of this Warrant by the Holder and (y) exercise or conversion of the unexercised, non-converted or
non-cancelled portion of any other securities of the Company that do not have voting power (including without limitation any securities of the Company which would entitle the holder thereof to acquire at any
time Common Stock, including without limitation any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive,
Common Stock), is subject to a limitation on conversion or exercise analogous to the limitation contained herein and is beneficially owned by the Holder or any of its Affiliates and other Persons whose beneficial ownership of Common Stock would be
aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act. 
 (c) This Section 11 shall not
restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine the amount of securities or other consideration that such Holder may receive in the event of a Fundamental Transaction as contemplated
in Section 9 of this Warrant. 
 12. No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of
this Warrant. In lieu of any fractional shares that would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded down to the next whole number and the Company shall pay the Holder in cash the fair market value (based on
the Closing Sale Price) for any such fractional shares. 
 13. Notices. Any and all notices or other communications or deliveries hereunder
(including, without limitation, 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 or confirmed e-mail at the facsimile number or e-mail address specified in the books and records of the Transfer Agent prior to 5:30 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 or confirmed e-mail at the facsimile number or
e-mail address specified in the books and records of the Transfer Agent on a day that is not a Trading Day or later than 5:30 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 specifying next business day delivery, or (iv) upon actual receipt by the Person to whom such notice is required to be given, if by hand delivery. 

  
 -7- 

 14. Warrant Agent. The Company shall initially 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 shareholders 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. 

15. Miscellaneous. 
 (a) No Rights as a
Stockholder. The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained in
this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action
(whether any reorganization, issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the
Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities
(upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company. 

(b) Authorized Shares. (i) Except and to the extent as waived or consented to by the Holder, the Company shall not by any action,
including, without limitation, amending its certificate or articles of incorporation or through any reorganization, transfer of assets, consolidation, merger, 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 Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights
of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately
prior to such increase in par value, (b) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant, and
(c) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to perform its obligations under this
Warrant. 
 (ii) Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is
exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof. 

(c) Successors and Assigns. Subject to the restrictions on transfer set forth in this Warrant and compliance with applicable securities laws,
this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company without the written consent of the Holder except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on and inure to the
benefit of the Company and the Holder and their respective successors and assigns. Subject to the preceding sentence, 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. This Warrant may be amended only in writing signed by the Company and the Holder, or their successors and assigns. 

  
 -8- 

 (d) Amendment and Waiver. Except as otherwise provided herein, the provisions of the Warrants may
be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the written consent of the Holders of Warrants representing no less than a majority
of the Warrant Shares obtainable upon exercise of the Warrants then outstanding. 
 (e) Acceptance. Receipt of this Warrant by the Holder
shall constitute acceptance of and agreement to all of the terms and conditions contained herein. 
 (f) Governing Law; Jurisdiction. ALL
QUESTIONS CONCERNING THE CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS WARRANT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW
THEREOF. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING IN THE STATE OF DELAWARE, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH
ANY TRANSACTION CONTEMPLATED HEREBY OR DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS), AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT IT IS
NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT. EACH OF THE COMPANY AND THE HOLDER HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY
THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH PERSON AT THE ADDRESS IN EFFECT FOR NOTICES TO IT 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 MANNER PERMITTED BY LAW. EACH OF THE COMPANY AND THE HOLDER HEREBY WAIVES ALL RIGHTS TO A TRIAL BY JURY. 

(g) Headings. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed to limit or
affect any of the provisions hereof. 
 (h) Severability. In case any one or more of the provisions of this Warrant shall be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired thereby, and the Company and the Holder will attempt in good faith to agree upon a valid
and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 -9- 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized officer as of the
date first indicated above. 
  

			
	SAVARA INC.
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 -10- 

 SCHEDULE 1 

FORM OF EXERCISE NOTICE 
 [To be
executed by the Holder to purchase shares of Common Stock under the Warrant] 
 Ladies and Gentlemen: 

(1) The undersigned is the Holder of Warrant No. (the “Warrant”) issued by Savara Inc., a Delaware corporation (the “Company”).
Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant. 
 (2) The undersigned hereby
exercises its right to purchase Warrant Shares pursuant to the Warrant. 
 (3) The Holder intends that payment of the Exercise Price shall be made as (check
one): 
 ☐    Cash Exercise 

☐    “Cashless Exercise” under Section 10 of the Warrant 

(4) If the Holder has elected a Cash Exercise, the Holder shall pay the sum of
$                in immediately available funds to the Company in accordance with the terms of the Warrant. 

(5) Pursuant to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant. 

(6) By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the
Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under Section 11(a) or
Section 11(b), as applicable, of the Warrant to which this notice relates. 
  

			
		
	Dated:	 	 

			
		
	Name of Holder:	 	 

			
		
	By	 	 

			
		
	Name:	 	 

			
		
	Title:	 	 

 (Signature must conform in all respects to name of Holder as specified on the face of the Warrant) 

  
 -11-

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