Document:

Exhibit 4.1

 

PURSUANT
TO THE TERMS OF SECTION 1 OF THIS WARRANT, ALL OR A PORTION OF THIS WARRANT MAY HAVE BEEN EXERCISED, AND THEREFORE THE ACTUAL
NUMBER OF WARRANT SHARES REPRESENTED BY THIS WARRANT MAY BE LESS THAN THE AMOUNT SET FORTH ON THE FACE HEREOF.

 

ATOSSA
GENETICS INc.

 

Pre-Funded
Warrant To Purchase Common Stock

 

Pre-Funded
Warrant No.: ________________

Number of
Shares of Common Stock: ________________

Date of
Issuance: ●, 2015 (“Issuance Date”)

 

Atossa
Genetics Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Roth Capital Partners, LLC, the registered holder hereof or its
permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company,
at the Exercise Price (as defined below) then in effect, upon surrender of this Warrant to purchase Common Stock (as defined below)
(including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”),
at any time or times on or after the Issuance Date (the “Exercisability Date”), ______________ (_____________)
fully paid nonassessable shares of Common Stock (the “Warrant Shares”). Except as otherwise defined herein,
capitalized terms in this Warrant shall have the meanings set forth in Section 15. This Warrant is the Pre-Funded Warrant
to purchase Common Stock (this “Warrant”) issued pursuant to (i) the Subscription Agreement, dated as of June
●, 2015, between the Company and the Holder (the “Subscription Agreement”) and (ii) the Company’s Registration
Statement on Form S-3 (File No.: 333-192390). This Warrant is one of a series of pre-funded warrants containing substantially
identical terms and conditions issued pursuant to those certain subscription agreements with the Company dated of even date with
the Subscription Agreement (collectively, the “Warrants”).

 

    	 

    	 

    

 

1.     
EXERCISE OF WARRANT.

 

(a)   Mechanics of Exercise. Subject to the terms and conditions hereof, this Warrant may be exercised by the Holder on
any day on or after the Exercisability Date, in whole or in part (but not as to fractional shares), by delivery of a written notice,
in the form attached hereto as Exhibit A (the “Exercise Notice”) of the Holder’s election to exercise
this Warrant. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee
or notarization) of any Notice of Exercise form be required. Within two (2) Trading Days of the delivery of such Exercise Notice,
if both (A) the Holder is not electing a Cashless Exercise (as defined below) pursuant to Section 1(d) of this Warrant and (B)
a registration statement registering the issuance of the Warrant Shares under the Securities Act of 1933, as amended (the “Securities
Act”), is effective and available for the issuance of the Warrant Shares, or an exemption from registration under the
Securities Act is available for the issuance of the Warrant Shares, payment to the Company of an amount equal to the applicable
Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate
Exercise Price”) in cash or wire transfer of immediately available funds (a “Cash Exercise”). The
Holder shall not be required to surrender this Warrant in order to effect an exercise hereunder; provided, however, that in the
event that this Warrant is exercised in full or for the remaining unexercised portion hereof, the Holder shall deliver this Warrant
to the Company for cancellation within a reasonable time after such exercise. On or before the first Trading Day following the
date on which the Company has received the Exercise Notice (the date upon which the Company has received the Exercise Notice,
the “Exercise Date”), the Company shall transmit by facsimile or e-mail transmission an acknowledgment of confirmation
of receipt of the Exercise Notice to the Holder and the Company’s transfer agent for the Common Stock (the “Transfer
Agent”). The Company shall deliver any objection to the Exercise Notice on or before the first Trading Day following
the date on which the Holder has delivered the Exercise Notice. On or before the second Trading Day following the date on which
the Company has received the Exercise Notice, provided the Aggregate Exercise Price has been received by the Company prior to
such Trading Day (the “Share Delivery Date”), the Company shall, (X) provided that the Transfer Agent
is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program (the “FAST
Program”) and so long as the certificates therefor are not required to bear a legend regarding restriction on transferability,
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 DTC through its Deposit/Withdrawal At Custodian
system, or (Y), if the Transfer Agent is not participating in 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. Upon delivery of the Exercise Notice, so
long as the payment of the Aggregate Exercise Price is made on or prior to the Share Delivery Date, the Holder shall be deemed
for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been
exercised, 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. So long as there is an effective registration statement
permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or if this Warrant is being exercised
via cashless exercise, Warrant Shares shall be issued electronically free of any legends. If this Warrant is submitted in connection
with any exercise pursuant to this Section 1(a) and the number of Warrant Shares represented by this Warrant submitted for exercise
is greater than the number of Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and
in no event later than three (3) Trading Days after any such submission and at its own expense, issue a new Warrant (in accordance
with Section 7(d)) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise
under this Warrant, less the number of Warrant Shares with respect to which this Warrant has been and/or is exercised. The Company
shall pay any and all taxes and other expenses of the Company (including overnight delivery charges) that may be payable with
respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant; provided, however, that the
Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any
certificates for Warrant Shares or Warrants in a name other than that of the Holder 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. While this Warrant remains outstanding, the Company shall maintain a transfer agent that participates
in the DTC’s FAST Program.

 

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(b)   Exercise
Price. For purposes of this Warrant, “Exercise Price” means $0.01, subject to adjustment as provided herein.

 

(c)   Company’s
Failure to Timely Deliver Securities. If the Company shall fail for any reason or for no reason to issue to the Holder within
three (3) Trading Days of the Exercise Date a certificate for the number of shares of Common Stock to which the Holder is entitled
and register such shares of Common Stock on the Company’s share register or to credit the Holder’s balance account
with DTC for such number of shares of Common Stock to which the Holder is entitled upon the Holder’s exercise of this Warrant,
and if on or after such Trading Day the Holder purchases, or another Person purchasers on the Holder’s behalf or for the
Holder’s account (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale
by the Holder of shares of Common Stock issuable upon such exercise that the Holder anticipated receiving from the Company (a
“Buy-In”), then the Company shall, within three (3) Trading Days after the Holder’s written request and
in the Holder’s discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase
price (including brokerage commissions, if any) for the shares of Common Stock so purchased (the “Buy-In Price”),
at which point the Company’s obligation to deliver such Warrant Shares shall terminate, or (ii) promptly honor its obligation
to deliver to the Holder such Warrant Shares and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In
Price over the product of (A) such number of shares of Common Stock, times (B) the Closing
Bid Price on the date of exercise.

 

(d)   Cashless
Exercise. Notwithstanding anything contained herein to the contrary, if a registration statement covering the Warrant Shares
that are the subject of the Exercise Notice (the “Unavailable Warrant Shares”), or an exemption from registration,
is not available for the resale of such Unavailable Warrant Shares, then the Holder may only exercise this Warrant in
whole or in part and, in lieu of making the cash payment otherwise contemplated to be made to the Company upon such exercise in
payment of the Aggregate Exercise Price, elect instead to receive upon such exercise the “Net Number” of shares
of Common Stock determined according to the following formula (a “Cashless Exercise”):

 

	Net
    Number =	 	(A
    - B) (X)	 
	 	 	(A)	 

 

For
purposes of the foregoing formula:

 

		A=	the
                                         average Closing Sale Price for the three (3) consecutive Trading Days ending on the date
                                         immediately preceding the date of the Exercise Notice.

 

		B=	the
                                         Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

		X=	the
                                         total number of shares with respect to which this Warrant is then being exercised.

 

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(e)   Rule
144. For purposes of Rule 144(d) promulgated under the Securities Act, as in effect on the date hereof, assuming the Holder
is not an affiliate of the Company, it is intended that the Warrant Shares issued in a Cashless Exercise 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 Issuance
Date.

 

(f)   Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of
the Warrant Shares, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed.

 

(g)  Beneficial Ownership; Limitations on Exercise.  Notwithstanding anything to the contrary contained herein,
the Company shall not effect the exercise of any portion of this Warrant, and the Holder shall not have the right to exercise
any portion of this Warrant, pursuant to the terms and conditions of this Warrant and any such exercise shall be null and void
and treated as if never made, to the extent that after giving effect to such exercise, the Holder together with the other Attribution
Parties collectively would beneficially own in excess of 4.99% (the “Maximum Percentage”) of the number of
shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the
aggregate number of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall include the
number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock
issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude
the number of shares of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant
beneficially owned by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or
unconverted portion of any other securities of the Company (including, without limitation, any convertible notes or convertible
preferred stock or warrants, including the other Warrants) beneficially owned by the Holder or any other Attribution Party subject
to a limitation on conversion or exercise analogous to the limitation contained in this Section 1(g). For purposes of this Section
1(g), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”). For purposes of this Warrant, in determining the number of outstanding shares of Common
Stock the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the Holder may rely on
the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Annual Report on Form 10-K,
Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the Securities and Exchange Commission (the
“SEC”), as the case may be, (y) a more recent public announcement by the Company or (3) any other written notice
by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding (the “Reported Outstanding
Share Number”). If the Company receives an Exercise Notice from the Holder at a time when the actual number of outstanding
shares of Common Stock is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing
of the number of shares of Common Stock then outstanding and, to the extent that such Exercise Notice would otherwise cause the
Holder’s beneficial ownership, as determined pursuant to this Section 1(g), to exceed the Maximum Percentage, the Holder
must notify the Company of a reduced number of Warrant Shares to be purchased pursuant to such Exercise Notice (the number of
shares by which such purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable,
the Company shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time,
upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing or
by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding
shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including
this Warrant, by the Holder and any other Attribution Party since the date as of which the Reported Outstanding Share Number was
reported. In the event that the issuance of shares of Common Stock to the Holder upon exercise of this Warrant results in the
Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage
of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the Exchange Act), the number of shares
so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum
Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall
not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess
Shares has been deemed null and void, the Company shall return to the Holder the exercise price paid by the Holder for the Excess
Shares. Upon delivery of a written notice to the Company, the Holder may from time to time increase (with such increase not effective
until the sixty-first (61st) day after delivery of such notice) or decrease the Maximum Percentage to any other percentage not
in excess of 9.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective
until the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply
only to the Holder and the other Attribution Parties and not to any other holder of Warrants that is not an Attribution Party
of the Holder. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of
the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose including for purposes of Section
13(d) or Rule 16a-1(a)(1) of the Exchange Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have
any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms
of this Section 1(g) to the extent necessary to correct this paragraph or any portion of this paragraph which may be defective
or inconsistent with the intended beneficial ownership limitation contained in this Section 1(g) or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived
and shall apply to a successor holder of this Warrant.

 

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2.     
ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and the number of Warrant Shares shall
be adjusted from time to time as follows:

 

(a)   Voluntary
Adjustment By Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price
to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

(b)   Adjustment
upon Subdivision or Combination of Common Stock. If the Company at any time on or after the Issuance Date subdivides (by any
stock split, stock dividend, recapitalization, reorganization, scheme, arrangement or otherwise) one or more classes of its outstanding
shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will
be proportionately reduced and the number of Warrant Shares will be proportionately increased. If the Company at any time on or
after the Issuance Date combines (by any stock split, stock dividend, recapitalization, reorganization, scheme, arrangement or
otherwise) one or more classes of its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in
effect immediately prior to such combination will be proportionately increased and the number of Warrant Shares will be proportionately
decreased. Any adjustment under this Section 2(b) shall become effective at the close of business on the date the subdivision
or combination becomes effective.

 

(c)   Other
Events. If any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for by
such provisions (including, without limitation, by means of the granting of stock appreciation rights or phantom stock rights),
then the Company’s Board of Directors will make an appropriate adjustment in the Exercise Price and the number of Warrant
Shares so as to protect the rights of the Holder; provided that no such adjustment pursuant to this Section 2(c) will increase
the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2.

 

3.     
RIGHTS UPON DISTRIBUTION OF ASSETS.

 

(a)   If
the Company, at any time while this Warrant is outstanding, shall distribute to all holders of Common Stock (and not to the Holders)
evidences of its indebtedness or assets (including cash and cash dividends) (a “Distribution”), then, in each
such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated
therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without
regard to any limitations on exercise hereof, including without limitation, the Maximum Percentage) immediately before the date
on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such Distribution.

 

4.     
PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)   Purchase
Rights.In addition to any adjustments pursuant to Section 2 above, if at any time the Company grants, issues or sells
any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of Common Stock (the “Purchase Rights”), then in each such case, the Company shall reserve
Options, Convertible Securities or Purchase Rights for distribution to the Holder upon exercise of this Warrant so that, in addition
to the shares of the Common Stock to which such Holder is entitled, such Holder will receive upon such exercise the amount and
kind of such Options, Convertible Securities or Purchase Rights which such Holder would have received if the Holder had, immediately
prior to the record date for the distribution of the Options, Convertible Securities or Purchase Rights, exercised this Warrant.

 

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(b)   Fundamental
Transactions. The Company shall not enter into or be party to a Fundamental Transaction unless the Successor Entity assumes
in writing (unless the Company is the Successor Entity) all of the obligations of the Company under this Warrant in accordance
with the provisions of this Section (4)(b). In addition to and not in substitution for any other rights hereunder, prior to the
consummation of any Fundamental Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities
or other assets with respect to or in exchange for shares of Common Stock (a “Corporate Event”), the Company
shall make appropriate provision to ensure that the Holder will thereafter have the right to receive upon an exercise of this
Warrant at any time after the consummation of the Corporate Event, in lieu of shares of Common Stock (or other securities, cash,
assets or other property) purchasable upon the exercise of this Warrant prior to such Corporate Event, such shares of stock, securities,
cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights) which the Holder would
have been entitled to receive upon the happening of such Corporate Event had this Warrant been exercised immediately prior to
such Corporate Event. Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory
to the Required Holders.

 

(c)   Applicability to Successive Transactions. The provisions of this Section shall apply similarly and equally to successive
Fundamental Transactions and Corporate Events and shall be applied without regard to any limitations on the exercise of this Warrant.

 

5.     
NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate
of Incorporation, Bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution,
issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, and will at all times in good faith comply with all the provisions of this Warrant and take all actions
consistent with effectuating the purposes of this Warrant. Without limiting the generality of the foregoing, the Company (i) shall
not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price
then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall, so long
as this Warrant is outstanding, take all action necessary to reserve and keep available out of its authorized and unissued shares
of Common Stock, solely for the purpose of effecting the exercise of this Warrant, 100% of the number of shares of Common Stock
issuable upon exercise of this Warrant then outstanding (without regard to any limitations on exercise).

 

6.     
WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, 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, 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.

 

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7.     
REISSUANCE OF WARRANTS.

 

(a)   Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company
and deliver the completed and executed Assignment Form, in the form attached hereto as Exhibit B, whereupon the Company
will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered as the
Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and, if less
than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance with Section
7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

(b)   Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company
of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification
undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of
this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing
the right to purchase the Warrant Shares then underlying this Warrant.

 

(c)   Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the
principal office of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate
the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the
right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided,
however, that no Warrants for fractional shares of Common Stock shall be given.

 

(d)   Issuance of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this
Warrant, such new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such
new Warrant, the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued
pursuant to Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares
of Common Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant
Shares then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is
the same as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

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8.     
NOTICES. The Company shall provide Holder with prompt written notice of all actions taken pursuant to this Warrant.
Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in writing,
will be mailed (a) if within the domestic United States by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile or (b) if delivered from outside the United States, by International
Federal Express or facsimile, and (c) will be deemed given (i) if delivered by first-class registered or certified mail domestic,
three (3) business days after so mailed, (ii) if delivered by nationally recognized overnight carrier, one (1) business day after
so mailed, (iii) if delivered by International Federal Express, two (2) business days after so mailed and (iv) if delivered by
facsimile, upon electronic confirmation of receipt, and will be delivered and addressed as follows:

 

		(i)	if
                                         to the Company, to:

 

Atossa
Genetics Inc.

2345
Eastlake Ave. East, Suite 201

Seattle,
Washington 98102

Attn:
Kyle Guse

Facsimile:
206 430 1288

 

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

 

Gibson
Dunn & Crutcher LLP

555
Mission St, Suite 3000,

San
Francisco, CA 94105

Attn:
Ryan A. Murr

Facsimile:
(415) 374-8430

 

(ii)
if to the Holder, at the address of the Holder appearing on the books of the Company.

 

9.     
AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant 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 Required Holders. Any such amendment shall apply to all Warrants and be binding upon all
registered holders of such Warrants.

 

10.    GOVERNING
LAW; CONSENT TO JURISDICTION; WAIVER OF JURY TRIAL. This Warrant shall be governed by, and construed in accordance with, the
internal laws of the State of New York, without reference to the choice of law provisions thereof. The Company and, by accepting
this Warrant, the Holder, each irrevocably submits to the exclusive jurisdiction of the courts of the State of New York located
in New York County and the United States District Court for the Southern District of New York for the purpose of any suit, action,
proceeding or judgment relating to or arising out of this Warrant and the transactions contemplated hereby. Service of process
in connection with any such suit, action or proceeding may be served on each party hereto anywhere in the world by the same methods
as are specified for the giving of notices under this Warrant. The Company and, by accepting this Warrant, the Holder, each irrevocably
consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.
The Company and, by accepting this Warrant, the Holder, each irrevocably waives any objection to the laying of venue of any such
suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought
in any such court has been brought in an inconvenient forum. EACH OF THE COMPANY AND, BY ITS ACCEPTANCE HEREOF, THE HOLDER
HEREBY WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS WARRANT AND REPRESENTS THAT COUNSEL
HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

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11.     CONSTRUCTION;
HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall not form part of, or
affect the interpretation of, this Warrant.

 

12.     DISPUTE
RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares, the Company shall submit the disputed determinations or arithmetic calculations to the Holder. If the Holder and the Company
are unable to agree upon such determination or calculation of the Exercise Price or the Warrant Shares within three Business Days
of such disputed determination or arithmetic calculation being submitted to the Holder, then the Company shall submit via (a)
the disputed determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved
by the Holder, which approval shall not be unreasonably withheld, or (b) the disputed arithmetic calculation of the Warrant Shares
to the Company’s independent, outside accountant. The Company shall cause the investment bank or the accountant, as the
case may be, to perform the determinations or calculations and notify the Company and the Holder of the results no later than
ten Business Days from the time it receives the disputed determinations or calculations. The prevailing party (which, for purposes
of this Warrant, is the party whose determinations or calculations is closest to those of the investment bank or the accountant,
as the case may be) in any dispute resolved pursuant to this Section 12 shall be entitled to the full amount of all reasonable
expenses, including all costs and fees paid or incurred in good faith, in relation to the resolution of such dispute. Such investment
bank’s or accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent
demonstrable error.

 

13.     REMEDIES,
OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and in addition
to all other remedies available under this Warrant, at law or in equity (including a decree of specific performance and/or other
injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual damages for any failure by the Company
to comply with the terms of this Warrant.

 

14.     TRANSFER.
Subject to applicable laws, this Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company

 

15.     CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)   
“Attribution Parties" means, collectively, the following Persons and entities: (i) any investment vehicle,
including, any funds, feeder funds or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly
managed or advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect
Affiliates of the Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a Group together
with the Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Company’s Common Stock
would or could be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the Exchange
Act.  For clarity, the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties to
the Maximum Percentage

 

    	9

    	 

    

 

(b)  
“Bloomberg” means Bloomberg Financial Markets.

 

(c)   “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.

 

(d)  
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date,
the last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported
by Bloomberg, or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid
price or the closing trade price, as the case may be, then the last bid price or the last trade price, respectively, of such security
prior to 4:00:00 p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange
or trading market for such security, the last closing bid price or last trade price, respectively, of such security on the principal
securities exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do
not apply, the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the
electronic bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively,
is reported for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers
for such security as reported on the OTC Pink marketplace operated by OTC Markets Group Inc. If the Closing Bid Price or the Closing
Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the
Closing Sale Price, as the case may be, of such security on such date shall be the fair market value as mutually determined by
the Company and the Holder. All such determinations to be appropriately adjusted for any stock dividend, stock split, stock combination
or other similar transaction during the applicable calculation period.

 

(e)   “Common
Stock” means (i) the Company’s shares of Common Stock, par value $0.001 per share, and (ii) any share
capital into which such Common Stock shall have been changed or any share capital resulting from a reclassification of such Common
Stock.

 

(f)   “Convertible
Securities” means any stock or securities (other than Options) directly or indirectly convertible into or exercisable
or exchangeable for shares of Common Stock.

 

(g)  “Eligible Market” means the Principal Market, The New York Stock Exchange, Inc., The NYSE MKT, The NASDAQ
Global Market or The NASDAQ Global Select Market.

 

    	10

    	 

    

 

(h)   “Fundamental
Transaction” means that the Company shall, directly or indirectly, in one or more related transactions, (i) consolidate
or merge with or into (whether or not the Company is the surviving corporation) another Person (but excluding a migratory merger
effected solely for the purpose of changing the jurisdiction of incorporation of the Company), or (ii) sell, assign, transfer,
convey or otherwise dispose of all or substantially all of the properties or assets of the Company to another Person, or (iii)
allow another Person to make a purchase, tender or exchange offer that is accepted by the holders of more than the 50% of the
outstanding shares of Common Stock (not including any shares of Common Stock held by the Person or Persons making or party to,
or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (iv) consummate
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 50% of the outstanding shares of Common
Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or
affiliated with the other Persons making or party to, such stock purchase agreement or other business combination), (v) reorganize,
recapitalize or reclassify its Common Stock, or (vi) any “person” or “group” (as these terms are used
for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become the “beneficial owner” (as defined
in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued
and outstanding Common Stock.

 

(i)    “Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(j)    “Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person
and whose common stock or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one
such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.

 

(k)   “Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated
organization, any other entity and a government or any department or agency thereof.

 

(l)    “Principal Market” means the NASDAQ Capital Market.

 

(m)  “Required Holders” means, as of any date, the holders of at least a majority of the Warrant Shares underlying
the Warrants outstanding as of such date.

 

(n)   “Successor Entity” means the Person (or, if so elected by the Holder, the Parent Entity) formed by,
resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Holder, the Parent Entity) with
which such Fundamental Transaction shall have been entered into.

 

(o)   “Trading Day” means any day on which the Common Stock are traded on the Principal Market, or, if the
Principal Market is not the principal trading market for the Common Stock, then on the principal securities exchange or securities
market on which the Common Stock are then traded; provided that “Trading Day” shall not include any day on
which the Common Stock are scheduled to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock
are suspended from trading during the final hour of trading on such exchange or market (or if such exchange or market does not
designate in advance the closing time of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New
York time).

 

    	11

    	 

    

 

(p)   “Weighted
Average Price” or “VWAP” means, for any security as of any date, the dollar volume-weighted average
price for such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time
as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such
other time as the Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its
“Volume at Price” function or, if the foregoing does not apply, the dollar volume-weighted average price of such security
in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m.,
New York time (or such other time as the Principal Market publicly announces is the official open of trading), and ending at 4:00:00
p.m., New York time (or such other time as the Principal Market publicly announces is the official close of trading), as reported
by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average
of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in
the OTC Pink marketplace operated by OTC Markets Group Inc. If the Weighted Average Price cannot be calculated for a security
on a particular date on any of the foregoing bases, the Weighted Average 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 such dispute shall be resolved pursuant to Section 12 with the term “Weighted Average
Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted
for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.

 

[Signature
Page Follows]

 

    	12

    	 

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date
set out above.

 

 

	 	ATOSSA GENETICS INC.
	 	 
	 	 
	 	By:	 	
	 	Name:
	 	Title:

 

    	 

    	 

    

 

EXHIBIT
A

 

EXERCISE
NOTICE

 

TO BE
EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT
TO PURCHASE COMMON STOCK

 

ATOSSA
GENETICS INC.

The
undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”)
of Atossa Genetics Inc., a Delaware corporation (the “Company”), evidenced by the attached Warrant to Purchase
Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1.
Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________     a
“Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________     a
“Cashless Exercise” with respect to _______________ Warrant Shares.

 

2.
Payment of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the
Warrant Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________
to the Company in accordance with the terms of the Warrant.

 

3.
Delivery of Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms
of the Warrant and, after delivery of such Warrant Shares, _____________ Warrant Shares remain subject to the Warrant.

 

Date: _______________
__, ______

 

 

	 
	Name
    of Registered Holder

 

 

	By:	 	 
	 	 	Name:
		 	Title:

 

    	A-1

    	 

    

 

EXHIBIT
B

 

ASSIGNMENT
FORM

 

ATOSSA
GENETICS INC.

 

(To
assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to:

 

	Name:	
	 	(Please Print)
	 	 
	Address:	
	 	(Please Print)
	Dated: _______________ __, ______	 

 

	Holder’s Signature:	 	

 

	Holder’s Address:	 	 

 

NOTE: The
signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or
enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.

 

    	B-1Exhibit 10.1 

 

ATOSSA GENETICS INC.

 

Up to 1,829,003 Shares of Common
Stock

 

and 

 

Pre-Funded Warrants to Purchase 3,610,997
Shares of Common Stock 

 

PLACEMENT AGENT AGREEMENT

 

June 5, 2015

 

Roth Capital Partners, LLC

888 San Clemente Drive

Newport Beach, CA 92660

 

Dawson James Securities, Inc.

5201 Great America Parkway Suite #320

Santa Clara, CA 95054

 

Ladies and Gentlemen:

 

Atossa Genetics
Inc., a Delaware corporation (the “Company”), proposes to issue and sell to the purchasers, pursuant to the
terms and conditions of this Placement Agent Agreement (this “Agreement”) and the Subscription Agreements
in the form of Exhibit A attached hereto (the “Subscription Agreements”) entered into with the purchasers
identified therein (each a “Purchaser” and collectively, the “Purchasers”), (i) up to an
aggregate of 1,829,003 shares (the “Shares”) of common stock, par value $0.001 per share (the
“Common Stock”), of the Company, and (ii) pre-funded warrants to purchase 3,610,997 shares of Common
Stock (the “Pre-funded Warrants”). The Form of the Pre-funded Warrant is attached hereto as Exhibit B. The
Shares and the Pre-Funded Warrants to be sold by the Company are collectively referred to as the “Securities.
The Company hereby confirms its agreement with Roth Capital Partners, LLC and Dawson James Securities, Inc. (together, the
“Placement Agent”) to act as Placement Agent in accordance with the terms and conditions hereof.

 

As used herein “Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Pre-Funded Warrants.

 

The Company and the
Placement Agent hereby confirm their agreement as follows:

 

    	 

    	 

    

 

1.             Registration
Statement and Prospectus. The Company has prepared and filed with the Securities and Exchange
Commission (the “Commission”) a registration statement on Form S-3 (File No. 333- 192390)
under the Securities Act of 1933, as amended (the “Securities Act”) and the rules and regulations (the “Rules
and Regulations”) of the Commission thereunder, and such amendments to such registration statement (including post effective
amendments) as may have been required to the date of this Agreement and a preliminary prospectus supplement or “red herring”
pursuant to Rule 424(b) under the Securities Act. Such registration statement, as amended (including any post effective amendments),
has been declared effective by the Commission. Such registration statement, including amendments thereto (including post effective
amendments thereto) at the time of effectiveness thereof (the “Effective Time”), the exhibits and any schedules thereto
at the Effective Time or thereafter during the period of effectiveness and the documents and information otherwise deemed to be
a part thereof or included therein by the Securities Act or otherwise pursuant to the Rules and Regulations at the Effective Time
or thereafter during the period of effectiveness, is herein called the “Registration Statement.” If the Company has
filed or files an abbreviated registration statement pursuant to Rule 462(b) under the Securities Act (the “Rule 462 Registration
Statement”), then any reference herein to the term Registration Statement shall include such Rule 462 Registration Statement.

 

The
Company is filing with the Commission pursuant to Rule 424 under the Securities Act a final prospectus supplement relating to the
Securities to a form of prospectus included in the Registration Statement. The form of prospectus included in the Registration
Statement at the time it was declared effective, as it may have been amended, modified or supplemented and filed with the Commission
after such effective date and prior to the date hereof pursuant to Rule 424(b)(3), is hereinafter called the “Base Prospectus,”
and such final prospectus supplement, as filed, along with the Base Prospectus, is hereinafter called the “Final Prospectus.”
Such Final Prospectus and any preliminary prospectus supplement or “red herring” relating to the Securities in the
form in which they shall be filed with the Commission pursuant to Rule 424(b) under the Securities Act (including the Base Prospectus
as so supplemented) is hereinafter called a “Prospectus.”

 

For purposes of this
Agreement, all references to the Registration Statement, the Rule 462 Registration Statement, the Base Prospectus, the Final Prospectus,
the Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed with the Commission
pursuant to its Interactive Data Electronic Applications system. All references in this Agreement to amendments or supplements
to the Registration Statement, the Rule 462 Registration Statement, the Base Prospectus, the Final Prospectus or the Prospectus
shall be deemed to mean and include the subsequent filing of any document under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), that is deemed to be incorporated by reference therein or otherwise deemed by the Rules and Regulations
to be a part thereof.

 

2.            Agreement
to Act as Placement Agent; Placement of Securities. On the basis of
the representations, warranties and agreements of the Company herein contained, and subject to all the terms and conditions
of this Agreement:

 

(i)          The
Company hereby authorizes the Placement Agent to act as its exclusive agent to solicit offers for the purchase of all or part of
the Securities from the Company in connection with the proposed offering of the Securities (the “Offering”).
 Until the Closing Date (as defined in Section 4 hereof) or earlier upon termination of this Agreement pursuant to
Section 9 the Company shall not, without the prior written consent of the Placement Agent, solicit or accept offers to
purchase the Securities otherwise than through the Placement Agent.

 

    	-2-

    	 

    

 

(ii)         The
Company hereby acknowledges that the Placement Agent has agreed, as agent of the Company, to use its reasonable efforts to solicit
offers to purchase the Securities from the Company on the terms and subject to the conditions set forth in the Prospectus (as defined
below). The Placement Agent shall use reasonable efforts to assist the Company in obtaining performance by each Purchaser
whose offer to purchase Securities has been solicited by the Placement Agent and accepted by the Company, but the Placement
Agent shall not, except as otherwise provided in this Agreement, have any liability to the Company in the event any such purchase
is not consummated for any reason. Under no circumstances will the Placement Agent be obligated to underwrite or purchase any Securities
for its own account and, in soliciting purchases of the Securities, the Placement Agent shall act solely as the Company’s
agent and not as principal.

 

(iii)        Subject
to the provisions of this Section 2, offers for the purchase of the Securities may be solicited by the Placement Agent as
agent for the Company at such times and in such amounts as the Placement Agent deems advisable. The Placement Agent shall communicate
to the Company, orally or in writing, each reasonable offer to purchase Securities received by it as agent of the Company.
The Company shall have the sole right to accept offers to purchase Securities and may reject any such offer, in whole or in part. The
Placement Agent shall have the right, in its discretion reasonably exercised, without notice to the Company, to reject any offer
to purchase Securities received by it, in whole or in part, and any such rejection shall not be deemed a breach of this Agreement 

 

(iv)        The
Securities are being sold to the Purchasers shall be $1.15 per share of Common Stock (the “Share Purchase Price”)
and the purchase price per Pre-funded Warrant shall be $1.14 (the “Pre-funded Warrant Purchase Price,” and collectively
with the Firm Share Purchase Price, “Purchase Price”). The purchases of Shares and Warrants by the Purchasers
shall be evidenced by the execution of Subscription Agreements by each of the Purchasers and the Company.

 

(v)         As
compensation for services rendered, on the Closing Date (as defined in Section 4 hereof), the Company shall pay to the Placement
Agent by wire transfer of immediately available funds to an account or accounts designated by the Placement Agent, an amount
equal to an amount allocated between the Company and each of the Placement Agents (the “Placement Fee”) from
the sale of the Securities on such Closing Date. The Placement Agent may retain other brokers or dealers to act as sub-agents on
its behalf in connection with the Offering, the fees of which shall be paid out of the Placement Fee.

 

(vi)        No
Securities which the Company has agreed to sell pursuant to this Agreement and the Subscription Agreements shall be deemed to have
been purchased and paid for, or sold by the Company, until such Securities shall have been delivered to the Purchaser thereof against
payment by such Purchaser. If the Company shall default in its obligations to deliver Securities to a Purchaser whose offer it
has accepted, the Company shall indemnify and hold the Placement Agent harmless against any loss, claim, damage or expense arising
from or as a result of such default by the Company in accordance with the procedures set forth in Section 7(c) herein.

 

    	-3-

    	 

    

 

2a.          Representations
and Warranties of the Company Regarding the Offering.

 

(a)          The
Company represents and warrants to, and agrees with, the Placement Agent, as of the date hereof and as of the Closing Date (as
defined in Section 4 (below), except as otherwise indicated, as follows:

 

(i)          At
each time of effectiveness, at the date hereof and at the Closing Date, if any, the Registration Statement and any post-effective
amendment thereto complied or will comply in all material respects with the requirements of the Securities Act and the Rules and
Regulations and did not, does not and will not contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not misleading. The Time of Sale Disclosure Package (as
defined in Section 2a(a)(iv)(A)(1) below) as of the date hereof, at the Closing Date, and the Prospectus, as amended or supplemented,
as of its date, at the time of filing pursuant to Rule 424(b) under the Securities Act and at the Closing Date, if any, does not
and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations
and warranties set forth in the two immediately preceding sentences shall not apply to statements in or omissions from the Registration
Statement, the Time of Sale Disclosure Package or any Prospectus in reliance upon, and in conformity with, written information
furnished to the Company by any Placement Agent specifically for use in the preparation thereof, which written information is described
in Section 7(f). The Registration Statement contains all exhibits and schedules required to be filed by the Securities Act
or the Rules and Regulations. No order preventing or suspending the effectiveness or use of the Registration Statement or any Prospectus
is in effect and no proceedings for such purpose have been instituted or are pending, or, to the knowledge of the Company, are
contemplated or threatened by the Commission. 

 

(i)          The
Company has not distributed any prospectus or other offering material in connection with the offering and sale of the Securities
other than the Time of Sale Disclosure Package and the roadshow or investor presentations delivered to and approved by the
Placement Agent for use in connection with the marketing of the offering of the Securities (the “Marketing Materials”).

 

(ii)         The
Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act
(an “Emerging Growth Company”). 

 

(iii)        The
Company (i) has not alone engaged in any Testing-the-Waters Communication and (ii) has not authorized anyone to engage
in Testing-the-Waters Communications. The Company has not distributed any Testing-the-Waters Communication that is a written communication
within the meaning of Rule 405 under the Securities Act (“Written Testing-the-Waters
Communications”). “Testing-the-Waters Communication” means any oral or written communication with potential
investors undertaken in reliance on Section 5(d) of the Securities Act.

 

    	-4-

    	 

    

 

(iv)        (A)
The Company has provided a copy to the Placement Agent of each Issuer Free Writing Prospectus (as defined below) used in the sale
of the Securities. The Company has filed all Issuer Free Writing Prospectuses required to be so filed with the Commission, and
no order preventing or suspending the effectiveness or use of any Issuer Free Writing Prospectus is in effect and no proceedings
for such purpose have been instituted or are pending, or, to the knowledge of the Company, are contemplated or threatened by the
Commission.  When taken together with the rest of the Time of Sale Disclosure Package or the Final Prospectus, since
its first use and at all relevant times since then, no Issuer Free Writing Prospectus has, does or will include (1) any
untrue statement of a material fact or omission to state any material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made, not misleading, or (2) information that conflicted, conflicts
or will conflict with the information contained in the Registration Statement or the Final Prospectus. The representations and
warranties set forth in the immediately preceding sentence shall not apply to statements in or omissions from the Time of Sale
Disclosure Package, the Final Prospectus or any Issuer Free Writing Prospectus in reliance upon, and in conformity with, written
information furnished to the Company by the Placement Agent specifically for use in the preparation thereof.  As used
in this paragraph and elsewhere in this Agreement:

 

(1)         “Time
of Sale Disclosure Package” means the Base Prospectus, the Prospectus most recently filed with the Commission before
the time of this Agreement, including any preliminary prospectus supplement deemed to be a part thereof, each Issuer Free Writing
Prospectus, and the description of the transaction provided by the Placement Agent included on Schedule I.

 

(2)         “Issuer
Free Writing Prospectus” means any “issuer free writing prospectus,” as defined in Rule 433 under the Securities
Act, relating to the Securities that (A) is required to be filed with the Commission by the Company, or (B) is exempt from
filing pursuant to Rule 433(d)(5)(i) or (d)(8) under the Securities Act, in each case in the form filed or required to be filed
with the Commission or, if not required to be filed, in the form retained in the Company’s records pursuant to Rule 433(g)
under the Securities Act.

 

(v)         At
the time of filing of the Registration Statement and at the date hereof, the Company was not and is not an “ineligible issuer,”
as defined in Rule 405 under the Securities Act or an “excluded issuer” as defined in Rule 164 under the Securities
Act. The Company meets the requirements for the use of Form S-3 under the Securities Act. The Company has filed in a timely manner
all reports required to be filed pursuant to Sections 13(a), 13(e), 14 and 15(d) of the Exchange Act during the twelve (12) months
preceding the date hereof.

 

(vi)        Each
Issuer Free Writing Prospectus satisfied, as of its issue date and at all subsequent times through the Prospectus Delivery Period
(as defined below in Section 4(a)(i)), all other conditions as may be applicable to its use as set forth in Rules 164 and
433 under the Securities Act, including any legend, record-keeping or other requirements.

 

    	-5-

    	 

    

 

(vii)       The
financial statements of the Company, together with the related notes, included or incorporated by reference in the Registration
Statement, the Time of Sale Disclosure Package and the Final Prospectus comply in all material respects with the applicable requirements
of the Securities Act and the Exchange Act and fairly present the financial condition of the Company as of the dates indicated
and the results of operations and changes in cash flows for the periods therein specified in conformity with U.S. generally accepted
accounting principles consistently applied throughout the periods involved; and the supporting schedules included in the Registration
Statement present fairly the information required to be stated therein, except as may be expressly stated in te related notes thereto.

 

(viii)      To
the knowledge of the Company, BDO USA, LLP, which has expressed its opinion with respect to the financial statements and schedules
incorporated by reference as a part of the Registration Statement and incorporated by reference in the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectus, is an independent public accounting firm with respect to the Company
within the meaning of the Securities Act and the Rules and Regulations.

 

(ix)         The
Company had a reasonable basis for, and made in good faith, each “forward-looking statement” (within the meaning of
Section 27A of the Securities Act or Section 21E of the Exchange Act) contained or incorporated by reference in the Registration
Statement, the Time of Sale Disclosure Package, the Final Prospectus or the Marketing Materials, in each case at the time such
“forward-looking statement” was made.

 

(x)          All
statistical or market-related data included or incorporated by reference in the Registration Statement, the Time of Sale Disclosure
Package or the Final Prospectus, or included in the Marketing Materials, are based on or derived from sources that the Company
reasonably believes to be reliable and accurate, and the Company has obtained the written consent to the use of such data from
such sources, to the extent required.

 

(xi)         The
Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is listed on the NASDAQ Capital Market. There is no
action pending by the Company or, to the Company’s knowledge, by the NASDAQ Capital Market to delist the Common Stock from
the NASDAQ Capital Market, nor has the Company received any notification that the NASDAQ Capital Market is contemplating terminating
such listing. The Company has submitted a Notification Form: Listing of Additional Securities with the NASDAQ Capital Market
with respect to the Securities.

 

(xii)        The
Company has not taken, directly or indirectly, any action that is designed to or that has constituted or that would reasonably
be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the
sale or resale of the Securities.

 

    	-6-

    	 

    

 

(xiii)       The
Company is not and, after giving effect to the offering and sale of the Securities and the application of the net proceeds
thereof, will not be an “investment company,” as such term is defined in the Investment Company Act of 1940, as amended.

 

(b)          Any
certificate signed by any officer of the Company and delivered to the Placement Agent or to the Placement Agent’s counsel
shall be deemed a representation and warranty by the Company to the Placement Agent as to the matters covered thereby.

 

3.            Representations
and Warranties Regarding the Company. 

 

(c)          The
Company represents and warrants to and agrees with, the Placement Agent, as of the date hereof and as of the Closing Date, except
as set forth in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus, as follows:

 

(i)          Each
of the Company and its subsidiaries has been duly organized and is validly existing as a corporation or other entity in good standing
under the laws of its jurisdiction of organization. Each of the Company and its subsidiaries has the power and authority (corporate
or otherwise) to own its properties and conduct its business as currently being carried on and as described in the Registration
Statement, the Time of Sale Disclosure Package and the Prospectus, and is duly qualified to do business as a foreign corporation
or other entity in good standing in each jurisdiction in which it owns or leases real property or in which the conduct of its business
makes such qualification necessary and in which the failure to so qualify would have or is reasonably likely to result in a material
adverse effect upon the business, prospects, properties, operations, condition (financial or otherwise) or results of operations
of the Company and its subsidiaries, taken as a whole, or in its ability to perform its obligations under this Agreement (“Material
Adverse Effect”). Except for those of the Company’s subsidiaries set forth on Schedule II attached hereto,
none of the Company’s subsidiaries is a “significant subsidiary” (as such term is defined in Rule 1-02 of Regulation
S-X promulgated under the Securities Act).

 

(ii)         The
Company has the power and authority to enter into this Agreement and each
of the Subscription Agreements and to perform and to discharge its obligations hereunder and thereunder. This Agreement and the
Pre-funded Warrants, consummation of the transactions contemplated hereby and by the Registration Statement, the Time of Sale Disclosure
Package and the Prospectus and the issuance and sale of the Securities and the Warrant Shares, have been duly authorized, executed
and delivered by the Company and constitutes a valid, legal and binding obligation of the Company, enforceable against the Company
in accordance with its terms, except as rights to indemnity hereunder may be limited by federal or state securities laws and except
as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors
generally and subject to general principles of equity.

 

    	-7-

    	 

    

 

(iii)        The
execution, delivery and performance of this Agreement, the Subscription Agreements and the Pre-funded Warrants and the consummation
of the transactions herein contemplated will not (A) result in a breach or violation of any of the terms and provisions of, or
constitute a default under, any law, order, rule or regulation to which the Company or any subsidiary is subject, or by which any
property or asset of the Company or any subsidiary is bound or affected, except to the extent such breach, violation or default
is not reasonably likely to have a Material Adverse Effect, (B) conflict with, result in any violation or breach of, or constitute
a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any right of
termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) (a “Default Acceleration
Event”) of, any agreement, lease, credit facility, debt, note, bond, mortgage, indenture or other instrument (the “Contracts”)
or obligation or other understanding to which the Company or any subsidiary is a party or by which any property or asset of the
Company or any subsidiary is bound or affected, except to the extent that such conflict, default or Default Acceleration Event
is not reasonably likely to result in a Material Adverse Effect, or (C) result in a breach or violation of any of the terms and
provisions of, or constitute a default under, the Company’s Certificate of Incorporation, as amended, or by-laws, as amended.

 

(iv)        Neither
the Company nor any of its subsidiaries is in violation, breach or default under its Certificate of Incorporation, as amended,
by-laws, as amended, or other equivalent organizational or governing documents, except in the case of a subsidiary of the Company
where the violation, breach or default is not reasonably likely to result in a Material Adverse Effect.

 

(v)         No
consents, approvals, orders, authorizations or filings are required on the part of the Company and its subsidiaries in connection
with the execution, delivery or performance of this Agreement and the issue and sale of the Securities, except (A) the registration
under the Securities Act of the Securities, (B) such consents, approvals, authorizations, registrations or qualifications as may
be required under state or foreign securities or Blue Sky laws and the rules of the Financial Industry Regulatory Authority, Inc.
(“FINRA”) in connection with the placement and distribution of the Securities by the Placement Agent,
(C) the necessary filings and approvals from the NASDAQ Capital Market to list the Securities and (D) such consents, approvals,
orders, authorizations and filings the failure of which to make or obtain is not reasonably likely to result in a Material Adverse
Effect.

 

    	-8-

    	 

    

 

(vi)        The
Company has an authorized capitalization as set forth in the Registration Statement, the Time of Sale Disclosure Package and the
Prospectus. All of the issued and outstanding shares of capital stock of the Company are duly authorized and validly issued, fully
paid and nonassessable, and have been issued in compliance with all applicable securities laws, and conform in all material respects
to the description thereof in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus. The Shares,
the Warrant Shares and the Pre-Funded Warrants conform in all material respects to the description thereof contained in the Time
of Sale Disclosure Package. All of the issued shares of capital stock of each subsidiary of the Company have been duly and validly
authorized and issued, are fully paid and non-assessable and are owned directly or indirectly by the Company, free and clear of
all liens, encumbrances, equities or claims. Except for the issuances of options or restricted stock in the ordinary course of
business, since the respective dates as of which information is provided in the Registration Statement, the Time of Sale Disclosure
Package or the Prospectus, the Company has not entered into or granted any convertible or exchangeable securities, options, warrants,
agreements, contracts or other rights in existence to purchase or acquire from the Company any shares of the capital stock of
the Company. The Shares to be issued and sold by the Company to the Purchasers hereunder and under the Subscription Agreements
have been duly authorized and, when issued, will be validly issued, fully paid and nonassessable, will be issued in compliance
with all applicable securities laws, and will be free of preemptive, registration or similar rights and will conform to the description
of the capital stock of the Company contained in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus.
The Shares, when issued, will conform in all material respects to the descriptions thereof set forth in the Registration Statement,
the Time of Sale Disclosure Package and the Prospectus. The Pre-Funded Warrants to be issued and sold by the Company to the Purchasers
hereunder and under the Subscription Agreements have been duly authorized by the Company and, when executed and delivered by the
Company, and paid for in full, will be valid and binding agreements of the Company, enforceable against the Company in accordance
with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other
similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles. The Warrant Shares
have been duly authorized and validly reserved for issuance upon exercise of the Pre-funded
Warrants in a number sufficient to meet the current exercise requirements. The Warrant Shares, when issued and delivered upon
exercise of the Pre-funded Warrants in accordance therewith, will be validly issued, fully paid and nonassessable, and the issuance
of the Warrant Shares is not subject to any preemptive rights, rights of first refusal or other similar rights to subscribe for
or purchase the Warrant Shares.

 

(vii)       Each
of the Company and its subsidiaries has (A) filed all foreign, federal, state and local returns (as hereinafter defined) required
to be filed with taxing authorities prior to the date hereof or has duly obtained extensions of time for the filing thereof and
(B) paid all taxes (as hereinafter defined) shown as due and payable on such returns that were filed and has paid all taxes imposed
on or assessed against the Company or such respective subsidiary, except, in all cases, for any such amounts that the Company or
any subsidiary is contesting in good faith and except in any case in which the failure to so file or pay would not reasonably be
expected to have a Material Adverse Effect. The provisions for taxes payable, if any, shown on the financial statements filed with
or as part of the Registration Statement are sufficient for all accrued and unpaid taxes, whether or not disputed, and for all
periods to and including the dates of such consolidated financial statements. No issues have been raised and are currently pending
by any taxing authority in connection with any of the returns or taxes asserted as due from the Company or its subsidiaries, and
no waivers of statutes of limitation with respect to the returns or collection of taxes have been given by or requested from the
Company or its subsidiaries, which is reasonably likely to result in a Material Adverse Effect. The term “taxes”
mean all federal, state, local, foreign, and other net income, gross income, gross receipts, sales, use, ad valorem, transfer,
franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise, severance, stamp, occupation,
premium, property, windfall profits, customs, duties or other taxes, fees, assessments, or charges of any kind whatever, together
with any interest and any penalties, additions to tax, or additional amounts with respect thereto. The term “returns”
means all returns, declarations, reports, statements, and other documents required to be filed in respect to taxes.

 

    	-9-

    	 

    

 

(viii)      Since
the respective dates as of which information is given (including by incorporation by reference) in the Registration Statement,
the Time of Sale Disclosure Package or the Prospectus, (a) neither the Company nor any of its subsidiaries has incurred any material
liabilities or obligations, direct or contingent, or entered into any material transactions other than in the ordinary course
of business, (b) the Company has not declared or paid any dividends or made any distribution of any kind with respect to its capital
stock, (c) there has not been any change in the capital stock of the Company or any of its subsidiaries (other than a change in
the number of outstanding shares of Common Stock due to the issuance of shares upon the exercise of outstanding options
or warrants or the issuance of restricted stock awards or restricted stock units under
the Company’s existing stock awards
plan, or any new grants thereof in the ordinary course of business), (d) there has not been any material change in the Company’s
long-term or short-term debt, and (e) there has not been the occurrence of any Material Adverse Effect.

 

(ix)         There
is not pending or, to the knowledge of the Company, threatened, any action, suit or proceeding to which the Company or any of its
subsidiaries is a party or of which any property or assets of the Company or any of its subsidiaries is the subject before or by
any court or governmental agency, authority or body, or any arbitrator or mediator, which is reasonably likely to result in a Material
Adverse Effect or adversely affect the consummation of the transactions contemplated by this Agreement.

 

(x)          The
Company and each of its subsidiaries holds, and is in compliance with, all franchises, grants, authorizations, licenses, permits,
easements, consents, certificates and orders (“Permits”) of any governmental or self-regulatory agency, authority
or body (including, without limitation, those administered by the Food and Drug Administration of the U.S. Department of Health
and Human Services (the “FDA”) or by any foreign, federal, state or local governmental or regulatory authority
performing functions similar to those performed by the FDA) required for the conduct of its business, and all such Permits are
in full force and effect, in each case except where the failure to hold, or comply with, any of them is not reasonably likely to
result in a Material Adverse Effect. 

 

(xi)         The
Company and its subsidiaries have good and marketable title to all property (whether real or personal) described in the Registration
Statement, the Time of Sale Disclosure Package and the Prospectus as being owned by them that is material to the business of the
Company, in each case free and clear of all liens, claims, security interests, other encumbrances or defects, except those that
are not reasonably likely to result in a Material Adverse Effect. The property held under lease by the Company and its subsidiaries
is held by them under valid, subsisting and enforceable leases with only such exceptions with respect to any particular lease as
do not interfere in any material respect with the conduct of the business of the Company and its subsidiaries. 

 

    	-10-

    	 

    

 

(xii)        The
Company and each of its subsidiaries owns or possesses or has valid right to use all patents, patent applications, trademarks,
service marks, trade names, trademark registrations, service mark registrations, copyrights, licenses, inventions, trade secrets
and similar rights (“Intellectual Property”) necessary for the conduct of the business of the Company and its
subsidiaries as currently carried on and as described in the Registration Statement, the Time of Sale Disclosure Package and the
Prospectus. To the knowledge of the Company, no action or use by the Company or any of its subsidiaries will involve or give rise
to any infringement of, or license or similar fees for, any Intellectual Property of others, except where such action, use, license
or fee is not reasonably likely to result in a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received
any written notice alleging any such infringement or fee.

 

(xiii)       The
Company and each of its subsidiaries has complied with, is not in violation of, and has not received any written notice of violation
relating to any law, rule or regulation relating to the conduct of its business, or the ownership or operation of its property
and assets, including, without limitation, (A) the Currency and Foreign Transactions Reporting Act of 1970, as amended, or any
money laundering laws, rules or regulations, (B) any laws, rules or regulations related to health, safety or the environment, including
those relating to the regulation of hazardous substances, (C) the Sarbanes-Oxley Act and the rules and regulations of the Commission
thereunder, (D) the Foreign Corrupt Practices Act of 1977 and the rules and regulations thereunder, and (E) the Employment Retirement
Income Security Act of 1974 and the rules and regulations thereunder, in each case except where the failure to be in compliance
is not reasonably likely to result in a Material Adverse Effect.

 

(xiv)      The
clinical, pre-clinical and other studies and tests conducted by or on behalf of or sponsored by the Company or its subsidiaries
that are described or referred to in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus were and,
if still pending, are being conducted in all material respects in accordance with all statutes, laws, rules and regulations, as
applicable (including, without limitation, those administered by the FDA or by any foreign, federal, state or local governmental
or regulatory authority performing functions similar to those performed by the FDA). The descriptions of the results of such studies
and tests that are described or referred to in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus
are accurate and complete in all material respects and fairly present the published data derived from such studies and tests, and
each of the Company and its subsidiaries has no knowledge of other studies or tests the results of which are materially inconsistent
with or otherwise call into question the results described or referred to in the Registration Statement, the Time of Sale Disclosure
Package and the Final Prospectus. Neither the Company nor its subsidiaries has received any notices or other correspondence from
the FDA or any other foreign, federal, state or local governmental or regulatory authority performing functions similar to those
performed by the FDA with respect to any ongoing clinical or pre-clinical studies or tests requiring the termination or suspension
of such studies or tests.

 

    	-11-

    	 

    

 

(xv)       The
Company has established and administers a compliance program applicable to the Company and its subsidiaries, to assist the Company,
its subsidiaries and their directors, officers and employees of the Company and its subsidiaries in complying with applicable regulatory
guidelines (including, without limitation, those administered by the FDA and any other foreign, federal, state or local governmental
or regulatory authority performing functions similar to those performed by the FDA).

 

(xvi)      Except
as would not result in a Material Adverse Effect, neither the Company nor any of its subsidiaries has failed to file with the applicable
regulatory authorities (excluding the FDA or any foreign, federal, state or local governmental or regulatory authority performing
functions similar to those performed by the FDA) any filing, declaration, listing, registration, report or submission that is required
to be so filed. Neither the Company nor any of its subsidiaries has failed to file with the FDA or any foreign, federal, state
or local governmental or regulatory authority performing functions similar to those performed by the FDA, any filing, declaration,
listing, registration, report or submission that is required to be so filed. All such filings were in material compliance with
applicable laws when filed and no deficiencies have been asserted by any applicable regulatory authority (including, without limitation,
the FDA or any foreign, federal, state or local governmental or regulatory authority performing functions similar to those performed
by the FDA) with respect to any such filings, declarations, listings, registrations, reports or submissions.

 

(xvii)     Neither
the Company, its directors or officers, nor any of its subsidiaries nor, to the knowledge of the Company, any employee, representative,
agent or affiliate of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered by the Office
of Foreign Assets Control of the U.S. Treasury Department (“OFAC”); and the Company will not directly or indirectly
use the proceeds of the offering of the Securities contemplated hereby, or lend, contribute or otherwise make available
such proceeds to any person or entity, for the purpose of financing the activities of any person currently subject to any U.S.
sanctions administered by OFAC.

 

(xviii)    The
Company and each of its subsidiaries carries, or is covered by, insurance in such amounts and covering such risks as, in the Company’s
reasonable judgment, is adequate for the conduct of its business and the value of its properties and as is customary for similarly
sized companies engaged in similar businesses in similar industries. Neither the Company nor any subsidiary has been refused any
coverage under insurance policies sought or applied for; and the Company has no reason to believe that it will not be able to renew
its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be
necessary to continue its business at a cost that would not have a Material Adverse Effect.

 

(xix)       No
labor dispute with the employees of the Company or any of its subsidiaries exists or, to the knowledge of the Company, is imminent,
that is reasonably likely to result in a Material Adverse Effect.

 

(xx)        Neither
the Company, its subsidiaries nor, to its knowledge, any other party is in violation, breach or default of any Contract that
is reasonably likely to result in a Material Adverse Effect.

 

    	-12-

    	 

    

 

(xxi)       No
supplier, customer, distributor or sales agent of the Company has notified the Company that it intends to discontinue
or decrease the rate of business done with the Company, except where such decrease is not reasonably likely to result
in a Material Adverse Effect.

 

(xxii)      There
are no claims, payments, issuances, arrangements or understandings for services in the nature of a finder’s, consulting or
origination fee with respect to the introduction of the Company to the Placement Agent or the sale of the Securities hereunder
or any other arrangements, agreements, understandings, payments or issuances with respect to the Company that may affect the Placement
Agent’s compensation, as determined by FINRA.

 

(xxiii)     The
Company has not made any direct or indirect payments (in cash, securities or otherwise) to (i) any person, as a finder’s
fee, investing fee or otherwise, in consideration of such person raising capital for the Company or introducing to the Company
persons who provided capital to the Company, (ii) any FINRA member, or (iii) any person or entity that has any direct or indirect
affiliation or association with any FINRA member within one hundred and eighty (180) days prior to the date of this Agreement (“Filing
Date”).

 

(xxiv)    None
of the net proceeds of the offering will be paid by the Company to any participating FINRA member or any affiliate or associate
of any participating FINRA member, except as specifically authorized herein.

 

(xxv)     To
the Company’s knowledge, no (i) officer or director of the Company or its subsidiaries, (ii) owner of 5% or more of the Company’s
unregistered securities or that of its subsidiaries or (iii) owner of any amount of the Company’s unregistered securities
acquired within the 180-day period prior to the Filing Date, has any direct or indirect affiliation or association with any FINRA
member. The Company will advise the Placement Agent and its counsel if it becomes aware that any officer, director or stockholder
of the Company or its subsidiaries is or becomes an affiliate or associated person of a FINRA member participating in the offering.

 

(xxvi)    Other
than the Placement Agent, no person has the right to act as a placement agent, an underwriter or as a financial advisor to the
Company in connection with the transactions contemplated hereby.

 

(xxvii)   The
statements set forth in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus under the caption “Prospectus
Summary - The Offering”, “Description of Securities We May Offer” and “Description of the Pre-funded Warrants,”
insofar as they purport to constitute a summary of the terms of the Securities.

 

(xxviii)    
Except as set forth or incorporated by reference in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus,
there are no contracts, agreements or understandings between the Company and any person granting such person the right (other than
rights which have been waived in writing or otherwise satisfied) to require the Company to file a registration statement under
the Securities Act with respect to any securities of the Company owned or to be owned by such person or to require the Company
to include such securities in the securities registered pursuant to the Registration Statement or in any securities being registered
pursuant to any other registration statement filed by the Company under the Securities Act. 

 

    	-13-

    	 

    

 

(xxix)      Except
as set forth or incorporated by reference in the Registration Statement, the Time of Sale Disclosure Package and the Prospectus,
the Company has not sold or issued any shares of Common Stock during the six-month period preceding the date of the Prospectus,
including any sales pursuant to Rule 144A under, or Regulations D or S of, the Securities Act, other than shares issued pursuant
to employee benefit plans, stock option plans or other employee compensation plans or pursuant to outstanding options, rights or
warrants.

 

(xxx)        The
Company and each of its subsidiaries (i) are in compliance with all, and have not violated any, laws, regulations, ordinances,
rules, orders, judgments, decrees, permits or other legal requirements of any governmental authority, including without limitation
any international, national, state, provincial, regional, or local authority, relating to the protection of human health or safety,
the environment, or natural resources, or to hazardous or toxic substances or wastes, pollutants or contaminants (including, without
limitation, all health and safety laws) (“Environmental Laws”) applicable to such entity, which compliance includes,
without limitation, obtaining, maintaining and complying with all permits and authorizations and approvals required by Environmental
Laws to conduct their respective businesses as described in the Registration Statement, the Time of Sale Disclosure Package and
the Prospectus, except where the failure to comply would not, singularly or in the aggregate, have a Material Adverse Effect, and
(ii) have not received notice of any actual or alleged violation of Environmental Laws, or of any potential liability for
or other obligation concerning the presence, disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants.

 

		(A)	There are no proceedings that are pending, or to the
knowledge of the Company, contemplated, against the Company or any of its subsidiaries under Environmental Laws in which a governmental
authority is also a party.

 

		(B)	The Company and its subsidiaries are not aware of any
existing liabilities concerning hazardous or toxic substances or wastes, pollutants or contaminants that could reasonably be expected
to have a Material Adverse Effect on the capital expenditures, earnings or competitive position of the Company and its subsidiaries.

 

		(C)	To the knowledge of the Company, no property which
is or has been owned, leased, used, operated or occupied by the Company or its subsidiaries has been designated as a Superfund
site pursuant to the Comprehensive Environmental Response, Compensation of Liability Act of 1980, as amended (42 U.S.C. Section
9601, et. seq.), or otherwise designated as a contaminated site under applicable state or local law.

 

    	-14-

    	 

    

 

(xxxi)      The
Company maintains a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f) under the Exchange
Act) that complies in all material respects with the requirements of the Exchange Act and has been designed by the Company’s
principal executive officer and principal financial officer, or under their supervision, to provide reasonable assurance regarding
the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S.
generally accepted accounting principles. The Company’s internal control over financial reporting is effective and the Company
is not aware of any material weaknesses in its internal control over financial reporting.

 

(xxxii)     Since
the date of the latest audited financial statements included or incorporated by reference in the Registration Statement, the Time
of Sale Disclosure Package and the Prospectus, there has been no change in the Company’s internal control over financial
reporting that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over
financial reporting.

 

(xxxiii)    The
Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply
with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that material information
relating to the Company and its subsidiaries is made known to the Company’s principal executive officer and principal financial
officer by others within those entities; and such disclosure controls and procedures are effective.

 

(xxxiv)     The
operations of the Company and its subsidiaries are being conducted in material compliance with applicable employment laws, the
rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced
by any governmental agency (collectively, the “Employee Benefit Laws”) and no action, suit or proceeding by
or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries
with respect to the Employee Benefit Laws is pending or, to the knowledge of the Company, threatened.

 

(xxxv)      Neither
the Company, its director and officer, nor any of its subsidiaries or affiliates, nor to the knowledge of the Company, any employee,
nor, to the Company’s knowledge, any agent or representative of the Company or of any of its subsidiaries or affiliates,
has taken any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment or giving
of money, property, gifts or anything else of value, directly or indirectly, to any “government official” (including
any officer or employee of a government or government-owned or controlled entity or of a public international organization, or
any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or
candidate for political office) to influence official action or secure an improper advantage; and the Company and its subsidiaries
and affiliates conduct their businesses in compliance in all material respects with applicable anti-corruption laws and have instituted
and maintain and will continue to maintain policies and procedures designed to promote and achieve compliance in all material respects
with such laws and with the representation and warranty contained herein. 

 

    	-15-

    	 

    

 

4.            The
Closing. The time and date of closing and delivery of the documents required to be delivered
to the Placement Agent pursuant to Sections 5 and 6 hereof shall be at 10:00 A.M., New York time, on June 10, 2015 (the “Closing
Date”) at the office of Lowenstein Sandler LLP, 1251 Avenue of the Americas, New York, New York 10020.

 

5.            Covenants.

 

(a)          The
Company covenants and agrees with the Placement Agent as follows:

 

(i)          To
prepare the Prospectus in a form approved by the Placement Agent and to file such Prospectus pursuant to Rule 424(b) under the
Securities Act not later than the Commission’s close of business on the second business day following the execution and delivery
of this Agreement, or, if applicable, such earlier time as may be required by Rule 430A(a)(3) under the Securities Act.

 

(ii)         During
the period beginning on the date hereof and ending on the date that the Prospectus is no longer required by law to be delivered
in connection with sales by an underwriter or dealer (the “Prospectus Delivery Period”), prior to amending or
supplementing the Registration Statement, including any Rule 462 Registration Statement, the Time of Sale Disclosure Package or
the Prospectus, the Company shall furnish to the Placement Agent for review and comment a copy of each such proposed amendment
or supplement, and the Company shall not file any such proposed amendment or supplement to which the Placement Agent reasonably
objects.

 

(iii)        From
the date of this Agreement until the end of the Prospectus Delivery Period, the Company shall promptly advise the Placement Agent
in writing (A) of the receipt of any comments of, or requests for additional or supplemental information from, the Commission,
(B) of the time and date of any filing of any post-effective amendment to the Registration Statement or any amendment or supplement
to the Time of Sale Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, (C) of the time and date that any
post-effective amendment to the Registration Statement becomes effective and (D) of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement or of any order preventing or suspending its use or the use of
the Time of Sale Disclosure Package or any Issuer Free Writing Prospectus, or of any proceedings to remove, suspend or terminate
from listing or quotation the Common Stock from any securities exchange upon which it is listed for trading or included or designated
for quotation, or of the threatening or initiation of any proceedings for any of such purposes. If the Commission shall enter any
such stop order at any time during the Prospectus Delivery Period, the Company will use its reasonable efforts to obtain the lifting
of such order at the earliest possible moment. Additionally, the Company agrees that it shall comply with the provisions of Rules
424(b), 430A and 430B, as applicable, under the Securities Act and will use its reasonable efforts to confirm that any filings
made by the Company under Rule 424(b) or Rule 433 were received in a timely manner by the Commission (without reliance on Rule
424(b)(8) or 164(b) of the Securities Act).

 

    	-16-

    	 

    

 

(iv)        (A)
  During the Prospectus Delivery Period, the Company will comply with all requirements imposed upon it by the Securities Act, as
now and hereafter amended, and by the Rules and Regulations, as from time to time in force, and by the Exchange Act, as now and
hereafter amended, so far as necessary to permit the continuance of sales of or dealings in the Securities as contemplated by the
provisions hereof, the Time of Sale Disclosure Package, the Registration Statement and the Prospectus. If during such period any
event occurs the result of which would cause the Prospectus (or if the Prospectus is not yet available to prospective purchasers,
the Time of Sale Disclosure Package) to include an untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which such statement was made, not misleading, or if during
such period it is necessary or appropriate in the opinion of the Company or its counsel or the Placement Agent or its counsel to
amend the Registration Statement or supplement the Prospectus (or if the Prospectus is not yet available to prospective purchasers,
the Time of Sale Disclosure Package) to comply with the Securities Act, or to file under the Exchange Act any document that would
be deemed to be incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, the
Company will promptly notify the Placement Agent, allow the Placement Agent the opportunity to provide reasonable comments on such
amendment, prospectus supplement or document, and will amend the Registration Statement or supplement the Prospectus (or if the
Prospectus is not yet available to prospective purchasers, the Time of Sale Disclosure Package) or file such document (at the expense
of the Company) so as to correct such statement or omission or effect such compliance.

 

(B)      If
during the Prospectus Delivery Period there occurred or occurs an event or development the result of which is that such Issuer
Free Writing Prospectus conflicted or would conflict with the information contained in the Registration Statement or any Prospectus
or included or would include, when taken together with the Time of Sale Disclosure Package, an untrue statement of a material fact
or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
prevailing at that subsequent time, not misleading, the Company has promptly notified or promptly will notify the Placement Agent
and has promptly amended or will promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate
or correct such conflict, untrue statement or omission.

 

(v)         The
Company shall take or cause to be taken all necessary action to qualify the Securities for sale under the securities laws of such
jurisdictions as the Placement Agent reasonably designates and to continue such qualifications in effect so long as required for
the distribution of the Securities, except that the Company shall not be required in connection therewith to qualify as a foreign
corporation or as a dealer in securities in any jurisdiction in which it is not so qualified, to execute a general consent to service
of process in any state or to subject itself to taxation in respect of doing business in any jurisdiction in which it is not otherwise
subject.

 

    	-17-

    	 

    

 

(vi)        The
Company will furnish to the Placement Agent and its counsel copies of the Registration Statement, each Prospectus, any Issuer Free
Writing Prospectus, and all amendments and supplements to such documents, in each case as soon as available and in such quantities
as the Placement Agent may from time to time reasonably request.

 

(vii)       The
Company will make generally available to its security holders as soon as practicable, but in any event not later than fifteen (15)
months after the end of the Company’s current fiscal quarter, an earnings statement (which need not be audited) covering
a 12-month period that shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Rules and Regulations.

 

(xii)        The
Company will pay or cause to be paid (A) all expenses (including transfer taxes allocated to the respective
transferees) incurred in connection with the delivery to the Placement Agent of the Securities, (B) all expenses and fees
(including, without limitation, fees and expenses of the Company’s counsel) in connection with the preparation,
printing, filing, delivery, and shipping of the Registration Statement (including the financial statements therein and all
amendments, schedules, and exhibits thereto), the Securities, the Time of Sale Disclosure Package, the Prospectus, any Issuer
Free Writing Prospectus and any amendment thereof or supplement thereto, (C) all reasonable filing fees and reasonable fees
and disbursements of the Placement Agent’s counsel incurred in connection with the qualification of the Securities
for offering and sale by the Placement Agent or by dealers under the securities or blue sky laws of the states and
other jurisdictions that the Placement Agent shall designate, (D) the fees and expenses of any transfer agent or registrar,
(E) the reasonable filing fees and reasonable fees and disbursements of Placement Agent’s counsel incident to any
required review and approval by FINRA of the terms of the sale of the Securities, (F) listing fees, if any, and (G) all other
costs and expenses incident to the performance of its obligations hereunder that are not otherwise specifically provided
for herein.  The Company will reimburse the Placement Agent for its reasonable out-of-pocket expenses, including its
legal fees and disbursements, in connection with the purchase and sale of the Securities contemplated hereby up to an
aggregate maximum of up to one (1) percent of the gross proceeds (including pursuant to clauses (A) through (E)
above);provided however, and amounts in excess of $50,000 shall only be paid in the event that the transactions contemplated
hereunder are consummated; and  provided further, that such limit on reimbursable expenses shall in no way affect the
Company’s obligations under Section 7 hereunder. In no event may the maximum compensation payable to FINRA members and
independent broker-dealers exceed 8.0% of the gross proceeds of this offering. For avoidance of doubt, if this Agreement is
terminated by the Placement Agent in accordance with the provisions of Section 6, Section 9 or Section 10, the Company will
reimburse the Placement Agent for all out-of-pocket fees and disbursements (including, but not limited to, reasonable fees
and disbursements of counsel, travel expenses, postage, facsimile and telephone charges, but
in no event shall the aggregate amount exceed $50,000) incurred by the Placement Agent in connection with its
investigation, preparing to market and marketing the Securities or in contemplation of performing its obligations
hereunder.

 

(ix)         The
Company intends to apply the net proceeds from the sale of the Securities to be sold by it hereunder for the purposes set forth
in the Time of Sale Disclosure Package and in the Final Prospectus.

 

    	-18-

    	 

    

 

(x)          The
Company has not taken and will not take, directly or indirectly, during the Prospectus Delivery Period, any action designed to
or which might reasonably be expected to cause or result in, or that has constituted, the stabilization or manipulation of the
price of any security of the Company to facilitate the sale or resale of the Securities.

 

(xi)         The
Company represents and agrees that, unless it obtains the prior written consent of the of the Placement Agent, on, and the Placement
Agent, severally and not jointly, represents and agrees that, unless it obtains the prior written consent of the Company, it has
not made and will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus; provided
that the prior written consent of the parties hereto shall be deemed to have been given in respect of the free writing prospectuses
included in Schedule III. Any such free writing prospectus consented to by the Company and the Placement Agent is hereinafter referred
to as a “Permitted Free Writing Prospectus.” The Company represents that it has treated or agrees that it will
treat each Permitted Free Writing Prospectus as an “issuer free writing prospectus,” as defined in Rule 433, and has
complied or will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely
Commission filing where required, legending and record-keeping.

 

(xii)        The
Company hereby agrees that, without the prior written consent of the Placement Agent, it will not, during the period ending thirty
(30) days after the date hereof (“Lock-Up Period”), (i) offer, pledge, issue, sell, contract to sell, purchase, contract
to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible
into or exercisable or exchangeable for Common Stock at a price per share less than the price per Offered Share offered at the
public offering price as set forth in the cover of the Final Prospectus (“Price to Public”); or (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the
Common Stock at a price per share less than the Price to Public, whether any such transaction described in clause (i) or (ii) above
is to be settled by delivery of Common Stock or such other securities, in cash or otherwise; or (iii) file any registration statement
with the Commission relating to the offering of any shares of Common Stock or any securities convertible into or exercisable or
exchangeable for Common Stock (other than a registration statement on Form S-4 and Form S-8). The restrictions contained in the
preceding sentence shall not apply to (1) the Shares to be sold hereunder, (2) the issuance of Common Stock (A) upon the exercise
of options, warrants or other exchange rights as disclosed as outstanding in the Registration Statement, the Time of Sale Disclosure
Package or the Prospectus and (B) or as an “inducement” award pursuant to Nasdaq Listing Rule 5635(c)(4), or (3) the
issuance of any securities pursuant to an existing equity incentive plan or (4) the filing of a registration statement with the
SEC and the sale of shares relating to that certain common stock purchase agreement between the Company and Aspire Capital Fund,
LLC, dated as of May 26, 2015. Notwithstanding the foregoing, to the extent that the Placement Agent is at such time providing
research coverage to the Company or intends to commence research coverage to the Company and is subject to the restrictions set
forth in FINRA Rule 2711(f)(4), if (x) the Company issues an earnings release or material news, or a material event relating to
the Company occurs, during the last 17 days of the Lock-Up Period, or (y) prior to the expiration of the Lock-Up Period, the Company
announces that it will release earnings results during the 16-day period beginning on the last day of the Lock-Up Period, the restrictions
imposed by this clause shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings
release or the occurrence of the material news or material event, unless the Placement Agent waives such extension in writing;
provided, however, that this sentence shall not apply if the research published or distributed on the Company is compliant with
Rule 139 of the Securities Act and the securities constitute “actively traded” securities as defined in Rule 101(c)(1)
of Regulation M of the Exchange Act.

 

    	-19-

    	 

    

 

(xiii)      To engage and
maintain, at its expense, a registrar and transfer agent for the Offered Shares and the Warrant Shares.

 

(xiv)      To
use its best efforts to list the Offered Shares and the Warrant Shares on the NASDAQ Capital Market.

 

(xv)       The
Company will notify promptly the Placement Agent if the Company ceases to be an Emerging
Growth Company at any time prior to the later of (i) completion of the distribution of the Securities within the meaning of
the Securities Act and (ii) completion of the Lock-Up Period referred to in Section 5(xii) hereof.

 

(xvi)     
To not take, directly or indirectly, any action designed to cause or result in, or that has constituted or might reasonably be
expected to constitute, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any securities of
the Company to facilitate the sale or resale of the Securities.

 

(xvii)     The
Company shall, at all times while any Pre-funded Warrants are outstanding, use its best efforts to maintain a registration statement
covering the exercise of the Pre-funded Warrants and the issue and sale of the Warrant Shares such that the Warrant Shares, when
issued, will not be subject to resale restrictions under the Securities Act except to the extent that the Warrant Shares are owned
by affiliates.

 

(xviii)   
The Company shall, at all times while any Pre-funded Warrants are 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 such Pre-funded Warrants, the number of Warrant Shares that are initially issuable and deliverable upon the exercise
of the then-outstanding Pre-funded Warrants

 

6.            Conditions
of the Placement Agent’s Obligations. The obligations of the Placement Agent hereunder,
and the Closing of the sale of the Securities, are subject to the accuracy, as of the date hereof, and at the Closing Date, of
and compliance in all material respects with all representations, warranties and agreements of the Company contained herein, the
performance by the Company of its obligations hereunder and the following additional conditions:

 

    	-20-

    	 

    

 

(a)          If
filing of the Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, is required under the
Securities Act or the Rules and Regulations, the Company shall have filed the Prospectus (or such amendment or supplement) or such
Issuer Free Writing Prospectus with the Commission in the manner and within the time period so required (without reliance on Rule
424(b)(8) or 164(b) under the Securities Act); the Registration Statement shall remain effective; no stop order suspending the
effectiveness of the Registration Statement or any part thereof, any Rule 462 Registration Statement, or any amendment thereof,
nor suspending or preventing the use of the Time of Sale Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus
shall have been issued; no proceedings for the issuance of such an order shall have been initiated or threatened; any request of
the Commission or the Placement Agent for additional information (to be included in the Registration Statement, the Time of Sale
Disclosure Package, the Prospectus, any Issuer Free Writing Prospectus or otherwise) shall have been complied with to the Placement
Agent’s satisfaction.

 

(b)          The
Offered Shares and Warrant Shares shall be qualified for listing on the NASDAQ Capital Market.

 

(c)         The Company shall
have entered into Subscription Agreements with each of the Purchasers and such agreements shall be in full force and effect.

 

(d)          FINRA
shall have raised no objection to the fairness and reasonableness of the terms of this Agreement or the transactions contemplated
thereby.

 

(e)          The
Placement Agent shall not have reasonably determined, and
advised the Company, that the Registration Statement, the Time of Sale Disclosure Package or the Prospectus, or any
amendment thereof or supplement thereto, or any Issuer Free Writing Prospectus, contains an untrue statement of fact which, in
such the Placement Agent’s reasonable opinion, is material, or omits to state a fact which, in such
the Placement Agent’s reasonable opinion, is material and is required to be stated therein or necessary to make
the statements therein not misleading.

 

(f)          On
the Closing Date, there shall have been furnished to the Placement Agent the opinion and negative assurance letter of
Gibson, Dunn & Crutcher, LLP, corporate counsel for the Company,
dated the Closing Date, as applicable, and addressed to the Placement Agent, in form and substance reasonably satisfactory to
the Placement Agent.

 

(g)          On
the Closing Date, there shall have been furnished to the Placement Agent the opinion of Malabika Ghosh, intellectual property counsel
to the Company, dated the Closing Date, as applicable, and addressed to the Placement Agent, in form and substance reasonably satisfactory
to the Placement Agent.

 

(h)          On
the Closing Date, there shall have been furnished to the Placement Agent the negative assurance letter of Lowenstein Sandler LLP,
counsel to the Placement Agent, dated the Closing Date, and addressed to the Placement Agent, in form and substance reasonably
satisfactory to the Placement Agent.

 

(i)          The
Placement Agent shall have received a letter of BDO USA, LLP. on the date hereof and on the Closing Date, addressed to the Placement
Agent, confirming that they are independent public accountants within the meaning of the Securities Act and are in compliance with
the applicable requirements relating to the qualifications of accountants under Rule 2-01 of Regulation S-X of the Commission,
and confirming, as of the date of each such letter (or, with respect to matters involving changes or developments since the respective
dates as of which specified financial information is given in the Time of Sale Disclosure Package, as of a date not prior to the
date hereof or more than five days prior to the date of such letter), the conclusions and findings of said firm with respect to
the financial information and other matters required by the Placement Agent.

 

    	-21-

    	 

    

 

(j)          On
the Closing Date, there shall have been furnished to the Placement Agent, a certificate, dated the Closing Date, and addressed
to the Placement Agent, signed by the chief executive officer and the chief financial officer of the Company, in their capacity
as officers of the Company, to the effect that:

 

(i)          The
representations and warranties of the Company in this Agreement that are qualified by materiality or by reference to any Material
Adverse Effect are true and correct in all respects, and all other representations and warranties of the Company in this Agreement
are true and correct, in all material respects, as if made at and as of the Closing Date, and the Company has complied with all
the agreements and satisfied all the conditions on its part required to be performed or satisfied at or prior to the Closing Date,
as applicable;

 

(ii)         No
stop order or other order (A) suspending the effectiveness of the Registration Statement or any part thereof or any amendment thereof,
(B) suspending the qualification of the Shares for offering or sale, or (C) suspending or preventing the use of the Time of Sale
Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, has been issued, and no proceeding for that purpose has
been instituted or, to their knowledge, is contemplated by the Commission or any state or regulatory body; and

 

(iii)      There
has been no occurrence of any event resulting or reasonably likely to result in a Material Adverse Effect during the period from
and after the date of this Agreement and prior to the Closing Date, as applicable.

 

(k)          On
or before the date hereof, the Placement Agent shall have received duly executed “lock-up” agreements, in the form
set forth on Schedule IV, among the Placement Agent and each of the parties specified in Schedule V.

 

(l)          The
Company shall have furnished to the Placement Agent and their counsel such additional documents, certificates and evidence as the
Placement Agent or their counsel may have reasonably requested.

 

If
any condition specified in this Section 6 shall not have been fulfilled when and as required to be fulfilled, this Agreement
may be terminated by the Placement Agent by notice to the Company at any time at or prior
to the Closing Date, as applicable, and such termination shall be without liability of any party to any other party, except that
Section 5(a)(viii), Section 7 and Section 8 shall survive any such termination and remain in full force
and effect.

 

    	-22-

    	 

    

 

7.            Indemnification
and Contribution.

 

(a)          The
Company agrees to indemnify, defend and hold harmlessthe Placement Agent, its affiliates, directors and officers and employees,
and each person, if any, who controls the Placement Agent within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act, from and against any losses, claims, damages or liabilities to which such Placement Agent or such person may
become subject, under the Securities Act or otherwise (including in settlement of any litigation if such settlement is effected
with the written consent of the Company), insofar as such losses, claims, damages or liabilities (or actions in respect thereof)
arise out of or are based upon (i) an untrue statement or alleged untrue statement of a material fact contained in the Registration
Statement, including the information deemed to be a part of the Registration Statement at the time of effectiveness and at any
subsequent time pursuant to Rules 430A and 430B of the Rules and Regulations, or arise out of or are based upon the omission from
the Registration Statement, or alleged omission to state therein, a material fact required to be stated therein or necessary to
make the statements therein not misleading, (ii) an untrue statement or alleged untrue statement of a material fact contained in
the Time of Sale Disclosure Package, the Prospectus, or any amendment or supplement thereto (including any documents filed under
the Exchange Act and deemed to be incorporated by reference into the Registration Statement or the Prospectus), any Issuer Free
Writing Prospectus or the Marketing Materials or in any other materials used in connection with the offering of the Securities,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, (iii) in
whole or in part any inaccuracy in the representations and warranties of the Company contained herein, or (iv) in whole or in part,
any failure of the Company to perform its obligations hereunder or under law, and will reimburse the Placement Agent for any legal
or other expenses reasonably incurred by it in connection with evaluating, investigating or defending against such loss, claim,
damage, liability or action; provided, however, that the Company shall not be liable in any such case to the extent that
any such loss, claim, damage, liability or action arises out of or is based upon an untrue statement or alleged untrue statement
or omission or alleged omission made in the Registration Statement, the Time of Sale Disclosure Package, the Prospectus, or any
amendment or supplement thereto or any Issuer Free Writing Prospectus, in reliance upon and in conformity with written information
furnished to the Company by the Placement Agent specifically for use in the preparation thereof, which written information is described
in Section 7(f).

 

(b)          The
Placement Agent, severally and not jointly, will indemnify, defend and hold harmless the Company, its affiliates, directors, officers
and employees, and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act, from and against any losses, claims, damages or liabilities to which the Company may become subject, under
the Securities Act or otherwise (including in settlement of any litigation, if such settlement is effected with the written consent
of the Placement Agent), insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or
are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the
Time of Sale Disclosure Package, the Prospectus, or any amendment or supplement thereto or any Issuer Free Writing Prospectus,
or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue
statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement, the Time of Sale
Disclosure Package, the Prospectus, or any amendment or supplement thereto or any Issuer Free Writing Prospectus in reliance upon
and in conformity with written information furnished to the Company by the Placement Agent specifically for use in the preparation
thereof, which written information is described in Section 7(f), and will reimburse the Company for any legal or other expenses
reasonably incurred by the Company in connection with defending against any such loss, claim, damage, liability or action.

 

    	-23-

    	 

    

 

(c)          Promptly
after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action, such indemnified
party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, notify the indemnifying
party in writing of the commencement thereof; but the failure to notify the indemnifying party shall not relieve the indemnifying
party from any liability that it may have to any indemnified party except to the extent such indemnifying party has been materially
prejudiced by such failure. In case any such action shall be brought against any indemnified party, and it shall notify the indemnifying
party of the commencement thereof, the indemnifying party shall be entitled to participate in, and, to the extent that it shall
wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel satisfactory to
such indemnified party, and after notice from the indemnifying party to such indemnified party of the indemnifying party’s
election so to assume the defense thereof, the indemnifying party shall not be liable to such indemnified party under such subsection
for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof; provided,
however, that if (i) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal
defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying
party, (ii) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified
party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action
on behalf of the indemnified party), or (iii) the indemnifying party has not in fact employed counsel reasonably satisfactory to
the indemnified party to assume the defense of such action within a reasonable time after receiving notice of the commencement
of the action, the indemnified party shall have the right to employ a single counsel to represent it in any claim in respect of
which indemnity may be sought under subsection (a) or (b) of this Section 7, in which event the reasonable fees and expenses
of such separate counsel shall be borne by the indemnifying party or parties and reimbursed to the indemnified party as incurred.

 

The indemnifying party
under this Section 7 shall not be liable for any settlement of any proceeding effected without its written consent, but
if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the
indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. No indemnifying
party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry
of judgment in any pending or threatened action, suit or proceeding in respect of which any indemnified party is a party or could
be named and indemnity was or would be sought hereunder by such indemnified party, unless such settlement, compromise or consent
(a) includes an unconditional release of such indemnified party from all liability for claims that are the subject matter of such
action, suit or proceeding and (b) does not include a statement as to or an admission of fault, culpability or a failure to act
by or on behalf of any indemnified party.

 

    	-24-

    	 

    

 

(d)          If
the indemnification provided for in this Section 7 is unavailable or insufficient to hold harmless an indemnified party
under subsection (a) or (b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified
party as a result of the losses, claims, damages or liabilities referred to in subsection (a) or (b) above, (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company on the one hand and the Placement Agent on the other
from the offering and sale of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable
law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the
relative fault of the Company on the one hand and the Placement Agent on the other in connection with the statements or omissions
that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative
benefits received by the Company on the one hand and the Placement Agent on the other shall be deemed to be in the same proportion
as the total net proceeds from the offering (before deducting expenses) received by the Company bear to the total fees and commissions
received by the Placement Agent, in each case as set forth in the table on the cover page of the Final Prospectus. The relative
fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Placement Agent
and the parties’ relevant intent, knowledge, access to information and opportunity to correct or prevent such untrue statement
or omission. The Company and the Placement Agent agree that it would not be just and equitable if contributions pursuant to this
subsection (d) were to be determined by pro rata allocation or by any other method of allocation that does not take account of
the equitable considerations referred to in the first sentence of this subsection (d). The amount paid by an indemnified party
as a result of the losses, claims, damages or liabilities referred to in the first sentence of this subsection (d) shall be deemed
to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending
against any action or claim that is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d),
the Placement Agent shall be required to contribute any amount in excess of the amount of such Placement Agent’s commissions
referenced in Section 4(a) actually received by the Placement Agent pursuant to this Agreement. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation.

 

(e)          The
obligations of the Company under this Section 7 shall be in addition to any liability that the Company may otherwise have
and the benefits of such obligations shall extend, upon the same terms and conditions, to each person, if any, who controls the
Placement Agent within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act; and the several obligations
of the Placement Agent under this Section 7 shall be in addition to any liability that the Placement Agent may otherwise
have and the benefits of such obligations shall extend, upon the same terms and conditions, to the Company, and its officers, directors
and each person who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act.

 

(f)          For
purposes of this Agreement, the Placement Agent confirms, and the Company acknowledges, that there is no information concerning
the Placement Agent furnished in writing to the Company by the Placement Agent specifically for preparation of or inclusion in
the Registration Statement, the Time of Sale Disclosure Package, the Prospectus or any Issuer Free Writing Prospectus, other than
the statements set forth in the “Plan of Distribution” in the Prospectus and Time of Sale Disclosure Package

 

    	-25-

    	 

    

 

8.           Representations
and Agreements to Survive Delivery. All representations, warranties, and agreements of the
Company herein or in certificates delivered pursuant hereto, including, but not limited to, the agreements of the Placement Agent
and the Company contained in Section 5(a)(viii) and Section 7 hereof, shall remain operative and in full force and
effect regardless of any investigation made by or on behalf of the Placement Agent or any controlling person thereof, or the Company
or any of its officers, directors, or controlling persons, and shall survive delivery of, and payment for, the Shares to and by
the Placement Agent hereunder.

 

9.           Termination
of this Agreement.

 

(a)          The
Placement Agent shall have the right to terminate this Agreement by giving notice to the Company as hereinafter specified
at any time at or prior to the Closing Date, if in the reasonable discretion of the Placement Agent, (i) there has occurred any
material adverse change in the securities markets or any event, act or occurrence that has materially disrupted, or in the reasonable
opinion of the Placement Agent, will in the future materially disrupt, the securities markets or there shall be such a material
adverse change in general financial, political or economic conditions or the effect of international conditions on the financial
markets in the United States is such as to make it, in the reasonable judgment of the Placement Agent, inadvisable or impracticable
to market the Shares or enforce contracts for the sale of the Shares, (ii) trading in the Common Stock shall have been suspended
by the Commission, the NASDAQ Capital Market or trading in securities generally on the NASDAQ Global Market, the New York Stock
Exchange or the NYSE MKT shall have been suspended, (iii) minimum or maximum prices for trading shall have been fixed, or maximum
ranges for prices for securities shall have been required, on the NASDAQ Capital Market, the NASDAQ Global Market, or the New York
Stock Exchange, or the NYSE MKT, by such exchange or by order of the Commission or any other governmental authority having jurisdiction,
(iv) a banking moratorium shall have been declared by federal or New York or California state authorities, (v) there shall have
occurred any attack on, outbreak or escalation of hostilities or act of terrorism involving the United States, any declaration
by the United States of a national emergency or war, any substantial change or development involving a prospective substantial
change in United States or international political, financial or economic conditions or any other calamity or crisis, (vi) the
Company suffers any loss by strike, fire, flood, earthquake, accident or other calamity, whether or not covered by insurance, (vii)
in the reasonable judgment of the Placement Agent, there has been, since the time of execution of this Agreement or since the respective
dates as of which information is given in the Prospectus, any material adverse change in the assets, properties, condition, financial
or otherwise, or in the results of operations, business affairs or business prospects of the Company and its subsidiaries considered
as a whole, whether or not arising in the ordinary course of business or (viii) the Purchasers shall decline to purchase the Shares
for any reason permitted under this Agreement or the Subscription Agreements. Any such termination shall be without liability of
any party to any other party except that the provisions of Section 5(a)(viii) and Section 7 hereof shall at all times
be effective and shall survive such termination.

 

(b)          If
the Placement Agent elects to terminate this Agreement as provided in this Section, the Company shall be notified promptly
by the Placement Agent by telephone, confirmed by letter.

 

    	-26-

    	 

    

 

10.          Notices.
Except as otherwise provided herein, all communications hereunder shall be in writing and, if to the Placement Agent,
shall be mailed, delivered or telecopied to Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, telecopy
number: (949) 720-7227, Attention: Managing Director, and (ii) if to the Company, shall be mailed, delivered or telecopied to it
at Atossa Genetics Inc., 1616 Eastlake Ave. East, Suite 510, Seattle, Washingto telecopy number: (240) 268-5310, Attention: Chief
Executive Officer and Chief Financial Officer; or in each case to such other address as the person to be notified may have requested
in writing. Any party to this Agreement may change such address for notices by sending to the parties to this Agreement written
notice of a new address for such purpose.

 

11.          Persons
Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective successors and assigns and the controlling persons, officers and directors referred
to in Section 7. Nothing in this Agreement is intended or shall be construed to give to any other person, firm or corporation
any legal or equitable remedy or claim under or in respect of this Agreement or any provision herein contained. 

 

12.          Absence
of Fiduciary Relationship. The Company acknowledges and agrees that: (a) the Placement Agent
has been retained solely to act as underwriter in connection with the sale of the Shares and that no fiduciary, advisory or agency
relationship between the Company and the Placement Agent has been created in respect of any of the transactions contemplated by
this Agreement, irrespective of whether the Placement Agent has advised or is advising the Company on other matters; (b) the price
and other terms of the Shares set forth in this Agreement were established by the Company following discussions and arms-length
negotiations with the Placement Agent and the Company is capable of evaluating and understanding and understands and accepts the
terms, risks and conditions of the transactions contemplated by this Agreement; (c) it has been advised that the Placement Agent
and its affiliates are engaged in a broad range of transactions that may involve interests that differ from those of the Company
and that no Placement Agent has any obligation to disclose such interest and transactions to the Company by virtue of any fiduciary,
advisory or agency relationship; (d) it has been advised that the Placement Agent is acting, in respect of the transactions contemplated
by this Agreement, solely for the benefit of the Placement Agent, and not on behalf of the Company.

 

13.          Amendments
and Waivers. No supplement, modification or waiver of this Agreement shall be binding unless
executed in writing by the party to be bound thereby. The failure of a party to exercise any right or remedy shall not be deemed
or constitute a waiver of such right or remedy in the future. No waiver of any of the provisions of this Agreement shall be deemed
or shall constitute a waiver of any other provision hereof (regardless of whether similar), nor shall any such waiver be deemed
or constitute a continuing waiver unless otherwise expressly provided. 

 

14.          Partial
Unenforceability. The invalidity or unenforceability of any section, paragraph, clause or
provision of this Agreement shall not affect the validity or enforceability of any other section, paragraph, clause or provision.

 

    	-27-

    	 

    

 

15.          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of New York. 

 

16.          Submission
to Jurisdiction. The Company irrevocably (a) submits to the jurisdiction of any court of the
State of New York for the purpose of any suit, action, or other proceeding arising out of this Agreement, or any of the agreements
or transactions contemplated by this Agreement, the Registration Statement, the Time of Sale Disclosure Package and the Prospectus
(each a “Proceeding”), (b) agrees that all claims in respect of any Proceeding may be heard and determined in any such
court, (c) waives, to the fullest extent permitted by law, any immunity from jurisdiction of any such court or from any legal process
therein, (d) agrees not to commence any Proceeding other than in such courts, and (e) waives, to the fullest extent permitted by
law, any claim that such Proceeding is brought in an inconvenient forum. THE COMPANY (ON BEHALF OF ITSELF AND, TO THE FULLEST EXTENT
PERMITTED BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS
AGREEMENT, THE REGISTRATION STATEMENT, THE TIME OF SALE DISCLOSURE PACKAGE AND THE PROSPECTUS.

 

17.          Counterparts.
This Agreement may be executed and delivered (including by facsimile transmission and electronic mail) in one or more counterparts
and, if executed in more than one counterpart, the executed counterparts shall each be deemed to be an original and all such counterparts
shall together constitute one and the same instrument.

 

[Signature Page Follows]

 

    	-28-

    	 

    

 

Please sign and return
to the Company the enclosed duplicates of this letter whereupon this letter will become a binding agreement between the Company
and the Placement Agent in accordance with its terms.

 

	 	Very truly yours,
	 	 
	 	ATOSSA GENETICS INC.
	 	 	 
	 	By:	/s/ Kyle Guse
	 	Name:	Kyle Guse
	 	Title:	Chief Financial Officer and General Counsel

 

Confirmed as of the date first above

ROTH
CAPITAL PARTNERS, LLC

 

	By:	/s/ Michael A. Margolis	 
	Name:	 Michael A. Margolis, R.Ph	 
	Title:	 Managing Director, Healthcare Investment Banking	 

 

Dawson
James Securities, Inc.

 

	By:	/s/ Joseph E. Balagot	 
	Name:	 Joseph E. Balagot	 
	Title:	 Managing Partner, Investment Banking	 

 

[Signature page to Placement Agent Agreement]

 

    	 

    	 

    

 

EXHBIIT A

Form
of Subscription Agreement

 

    	 

    	 

    

 

EXHIBIT B

 

FORM OF Pre-funded
WARRANT TO PURCHASE COMMON STOCK 

 

    	 

    	 

    

 

SCHEDULE I

 

Final Term Sheet

 

	Issuer:	Atossa Genetics Inc. (the “Company”)
	Symbol:	ATOS
	Securities:	
        Up to 1,829,003 shares of Common Stock
        and

        3,610,997 Pre-funded Warrants

	Price per share to the public:	$1.15
	Price per Pre-funded Warrants:	$1.14
	Placement Agent Fee:	7% of gross spread
	Terms of Pre-funded Warrants:	Pre-funded warrants to purchase 3,610,997 shares of the issuer’s
    common stock are being offered to certain existing large investors in lieu of shares of common stock. Each pre-funded warrant
    will entitle the holder thereof to purchase 1 shares of the issuer’s common stock, will have an exercise price of $0.01
    per share and will be exercisable upon issuance. In general, a holder
    will not have the right to exercise any portion of the pre-funded warrant if the holder (together with its affiliates) would
    beneficially own in excess of 9.99% of the number of shares of the issuer’s common stock outstanding immediately after
    giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Pre-funded
    warrants.
	Net proceeds:	$5.6 million (after deducting the Placement Agent Fee and estimated offering expenses payable by the Company)
	Trade date:	June 5, 2015
	Settlement date:	June 10, 2015
	Placement Agent:	
        Roth Capital Partners, LLC

        Dawson James Securities, Inc.

 

    	 

    	 

    

 

SCHEDULE II

 

Subsidiaries

 

	 	·	The National Reference Laboratory for Breast Health, Inc. 
	 	 	 
	 	·	Atossa Genettcs UK Ltd.

 

    	 

    	 

    

 

SCHEDULE III

 

Free Writing Prospectus

 

[None]

 

    	 

    	 

    

 

SCHEDULE IV

 

Form of Lock-Up Agreement

 

[   ], 2015

 

Roth Capital Partners, LLC

888 San Clemente Drive

Newport Beach, CA 92660

 

Ladies and Gentlemen:

 

This
Lock-Up Agreement is being delivered to you in connection with the proposed Placement Agent Agreement (the “Placement Agent
Agreement”) to be entered into between Atossa Genetics Inc., a Delaware corporation (the “Company”), and Roth
Capital Partners, LLC, as the placement agent (the “Placement Agent”), with respect to the proposed public offering
(the “Offering”) of (i) an aggregate of ● shares (the “Firm Shares”) of common stock, par value $0.001
per share (the “Common Stock”), of the Company, and (ii) pre-funded warrants to purchase ● shares of Common
Stock (the “Pre-funded Warrants”). Capitalized terms used and not otherwise defined herein shall have the meanings
given them in the Placement Agent Agreement.

 

In order to induce
you to enter into the Placement Agent Agreement, the undersigned agrees that, for a period (the “Lock-Up Period”) beginning
on the date hereof and ending on, and including, the date that is thirty (30) days after the date of the final prospectus supplement
relating to the Offering, the undersigned will not, without the prior written consent of the Placement Agent, (i) sell, offer
to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose
of, directly or indirectly, or file (or participate in the filing of) a registration statement with the Securities and Exchange
Commission (the “Commission”) in respect of, or establish or increase a put equivalent position or liquidate or decrease
a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder (the “Exchange Act”) with respect to, any Common Stock or any
other securities of the Company that are substantially similar to Common Stock, or any securities convertible into or exchangeable
or exercisable for, or any warrants or other rights to purchase, the foregoing, (ii) enter into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of Common Stock or any other securities
of the Company that are substantially similar to Common Stock, or any securities convertible into or exchangeable or exercisable
for, or any warrants or other rights to purchase, the foregoing, whether any such transaction is to be settled by delivery of Common
Stock or such other securities, in cash or otherwise or (iii) publicly announce an intention to effect any transaction specified
in clause (i) or (ii).

 

    	 

    	 

    

 

The foregoing paragraph
shall not apply to (a) the registration of the offer and sale of Common Stock as contemplated by the Placement Agent Agreement
and the sale of the Common Stock to the Placement Agent in the Offering, (b) bona fide gifts, provided the recipient thereof agrees
in writing with the Placement Agent to be bound by the terms of this Lock-Up Agreement, (c) dispositions to any trust for the direct
or indirect benefit of the undersigned and/or the immediate family of the undersigned, provided that such trust agrees in writing
with the Placement Agent to be bound by the terms of this Lock-Up Agreement, (d) transfers of Common Stock or securities convertible
into Common Stock on death by will or intestacy (e) sales or transfers of Common Stock solely in connection with the “cashless”
exercise of Company stock options outstanding on the date hereof for the purpose of exercising such stock options (provided that
any remaining Common Stock received upon such exercise will be subject to the restrictions provided for in this Lock-Up Agreement)
or (f) sales or transfers of Common Stock or securities convertible into Common Stock pursuant to a sales plan entered into prior
to the date hereof pursuant to Rule 10b5-1 under the Exchange Act, a copy of which has been provided to the Placement Agent.
In addition, the restrictions sets forth herein shall not prevent the undersigned from entering into a sales plan pursuant to Rule 10b5-1
under the Exchange Act after the date hereof, provided that (i) a copy of such plan is provided to the Placement Agent promptly
upon entering into the same and (ii) no sales or transfers may be made under such plan until the Lock-Up Period ends or this
Lock-Up Agreement is terminated in accordance with its terms. For purposes of this paragraph, “immediate family” shall
mean the undersigned and the spouse, any lineal descendent, father, mother, brother or sister of the undersigned.

 

In addition, the undersigned
hereby waives any rights the undersigned may have to require registration of Common Stock in connection with the filing of a registration
statement relating to the Offering. The undersigned further agrees that, for the Lock-Up Period, the undersigned will not, without
the prior written consent of the Placement Agent, make any demand for, or exercise any right with respect to, the registration
of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, or warrants or other rights
to purchase Common Stock or any such securities.

 

The undersigned hereby
confirms that the undersigned has not, directly or indirectly, taken, and hereby covenants that the undersigned will not, directly
or indirectly, take, any action designed, or which has constituted or will constitute or might reasonably be expected to cause
or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of
shares of Common Stock.

 

If (i) the Company
notifies you in writing that it does not intend to proceed with the Offering, or (ii) if the closing of the Offering does not occur
prior to thirty (30) days from the date of this Lock-Up Agreement, this Lock-Up Agreement shall be terminated and the undersigned
shall be released from its obligations hereunder.

 

[Signature Page Follows]

 

    	 

    	 

    

 

 

	 	Very truly yours,
	 	 
	 	Name:

 

[Signature Page to Atossa Genetics Inc.
Lock-up Agreemen]

 

    	 

    	 

    

 

SCHEDULE V

 

List of officers, directors and stockholders
executing lock-up agreements

 

		·	Shu-Chih Chen

		·	Richard I. Steinhart

		·	H. Lawrence Remmel

		·	Steven C. Quay

		·	Gregory L. Weaver

		·	Stephen J. Galli

		·	Kyle Guse

		·	Ensisheim

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