Document:

January 23, 2013

 

Michael Leabman

DvineWave Inc.

207 Veritas Court

San Ramon, CA 94582

 

Re:         Engagement Letter for Strategic Consulting Services

 

Dear Mr. Leabman:

 

MDB Capital Group, LLC (together with its
affiliates, “MDB”) is a financial and strategic advisory firm helping companies develop key assets and plans to support
their business objectives. Our unique methodologies are intended to maximize returns on innovation and expand shareholder value
through strategic consulting, corporate development, and innovation management. As a result of our working together, many clients
use MDB’s brand to enhance their own brand as top innovators, realizing a sustainable competitive advantage in their respective
fields.

 

We understand that DvineWave Inc. (together
with its affiliates, subsidiaries, predecessors, and successors, the “Company”) is seeking the services provided by
MDB, so as to build and maintain its overall corporate profile and to assist the Company in preparing for a possible IPO event
towards the end of 2013. We are pleased to propose a program we believe is designed to enhance the Company’s valuation,
develop the investor “story,” and set the foundation for long-term stakeholder value.

 

This letter agreement (the “Agreement”)
confirms the terms and conditions that will govern the Company’s engagement of MDB to provide financial, strategic, and
intellectual property advisory services (the “Engagement”).

 

1.          Services.

 

a.           Services
Provided. MDB shall assist the Company with all aspects of its business, strategic, and intellectual property development,
including:

 

BUSINESS STRATEGY ACTIVITIES

 

		·	Assessing
                                                                                                               the Company’s
                                                                                                               market landscape;

 

		·	Formulation
                                                                                                               of the Company’s
                                                                                                               business strategy;

 

		·	Formulation
                                                                                                               of the Company’s
                                                                                                               financial plan,
                                                                                                               including assessment
                                                                                                               of financing options;

 

		·	Defining
                                                                                                               technology milestones;

 

		·	Creating
                                                                                                               development and
                                                                                                               commercialization
                                                                                                               strategy;

 

		·	Identifying
                                                                                                               and recruiting
                                                                                                               key members of
                                                                                                               the management
                                                                                                               team and Board
                                                                                                               of Directors;

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 2 of 13

 

		·	Corporate
                                                                                                               structuring; and

 

		·	General
                                                                                                               corporate advice,
                                                                                                               as needed and requested.
                                                                                                               

 

IP RELATED ACTIVITIES

 

		·	Inventory
                                                                                                               and assessment
                                                                                                               of the Company’s
                                                                                                               intellectual property
                                                                                                               portfolio (the
                                                                                                               “Assets”),
                                                                                                               using PatentVest®,
                                                                                                               MDB’s proprietary
                                                                                                               IP business intelligence
                                                                                                               platform;

 

		·	Identification
                                                                                                               and evaluation
                                                                                                               of specific market
                                                                                                               or competitive
                                                                                                               issues pertaining
                                                                                                               to the Company’s
                                                                                                               intellectual property
                                                                                                               portfolio;

 

		·	Formulation
                                                                                                               of the Company’s
                                                                                                               IP strategy, including
                                                                                                               development of
                                                                                                               a comprehensive
                                                                                                               plan for invention
                                                                                                               prioritization
                                                                                                               and patent development;

 

		·	For
                                                                                                               each individual
                                                                                                               invention of the
                                                                                                               Company (an “Invention”),
                                                                                                               development of
                                                                                                               a clear strategy
                                                                                                               for Invention drafting
                                                                                                               and Invention family
                                                                                                               development roadmap;
                                                                                                               

 

		·	Preparation
                                                                                                               of a complete Invention
                                                                                                               package with technical
                                                                                                               disclosure documentation
                                                                                                               (each, a “Disclosure”)
                                                                                                               for use in the
                                                                                                               Company’s
                                                                                                               patent applications;

 

		·	Invention
                                                                                                               extraction;

 

		·	Identification
                                                                                                               of companies with
                                                                                                               intellectual property
                                                                                                               profiles best matching
                                                                                                               the Company’s
                                                                                                               portfolio and those
                                                                                                               which will likely
                                                                                                               have the greatest
                                                                                                               value for the Company’s
                                                                                                               portfolio;

 

		·	Selecting
                                                                                                               IP assets and companies
                                                                                                               for acquisition;

 

		·	Assessment
                                                                                                               of the monetization
                                                                                                               method which would
                                                                                                               be most appropriate
                                                                                                               for realizing the
                                                                                                               value of the Company’s
                                                                                                               current patent
                                                                                                               assets, including
                                                                                                               but not limited
                                                                                                               to full or partial
                                                                                                               patent sale, spin-out,
                                                                                                               additional financing,
                                                                                                               etc;

 

		·	Preparation
                                                                                                               of an internal
                                                                                                               valuation memorandum,
                                                                                                               with a valuation
                                                                                                               range predicated
                                                                                                               on the most likely
                                                                                                               monetization method,
                                                                                                               with tactical recommendations
                                                                                                               on realizing the
                                                                                                               portfolio value;
                                                                                                               and

 

		·	Access
                                                                                                               to PatentVest and
                                                                                                               MDB’s Patent
                                                                                                               Factory.

 

b.           Additional
Services/Exclusions. It is expressly understood and agreed that MDB has not provided nor is undertaking to provide any advice
to the Company relating to legal, regulatory, accounting, or tax matters. The services provided to the Company hereunder are designed
to assist, but not replace, the Company’s own intellectual property counsel.

 

Should the Company request MDB to perform
any services or act in any capacity not specifically addressed in this Agreement, such services or activities shall constitute
separate engagements, the terms and conditions of which will be embodied in separate written agreement(s).

 

2.          Compensation.
As consideration for the services provided under this Agreement, the Company will pay MDB a fee as follows:

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 3  of 13

 

a.           Warrant.
Upon the consummation of the bridge loan (or similar bridge financing) contemplated by the Company and considered under the investment
banking engagement agreement between the Company and MDB of approximate even date herewith (such engagement agreement, the “Engagement
Agreement” and such bridge loan or similar bridge financing, the “Bridge Financing”), the Company shall sell
to MDB, for the total amount of $1,500, a warrant, which may be issued in one or more instruments (the “Warrants”)
to purchase an aggregate of shares of Company common stock (the “Common Stock”), in an amount equal to ten percent
(10%) of the total issued and outstanding Common Stock of the Company after giving effect to the conversion of all options, warrants
and other rights to acquire securities of the Company existing or issuable on conversion of then outstanding preferred stock,
options, warrants or other convertible securities as at the time immediately prior to the consummation of the Bridge Financing.
For the avoidance of doubt, without duplicating in whole or in part the warrant to be issued under the Engagement Agreement as
a result of the Bridge Financing, the Warrants will entitle MDB is to purchase upon exercise thereof 10% of the fully diluted
number of shares outstanding and that may be issued or issuable by the Company, pursuant to any form of agreement, arrangement
or undertaking, immediately prior to the final consummation of the Bridge Financing, whether in one or more closings, treating
all such closings as a single Bridge Financing. Such Warrants will be for a term of five (5) years at an exercise price of $0.01
per share, shall contain cashless exercise and anti-dilution provisions and representations and warranties normal and customary
for warrants issued to placement agents or underwriters, and will not be callable or terminable prior to the expiration date.
No adjustment will be made to the exercise price or number of shares underlying the Warrants in the event of subsequent financings.
The Common Stock underlying the Warrants will have registration rights no less favorable than those granted to any other person,
including “piggyback” registration rights on the registrations of the Company or demand registrations (voting with
the other registrable securities to effect any such demand) by any later round of investors. The Company shall bear all costs
and expenses of registration, including the filing and clearing of one or more registration statements. The Warrants may be issued
to any persons or entities designated by MDB.

 

b.           Expenses.
The Company shall fund MDB’s travel and other reasonable expenses related to the Engagement, including economy class air
fare, business class accommodations, ground transportation, meals and incidentals, in connection with visits by the MDB team to
the Company’s site. Prior to the Company securing bridge financing, if any, such expenses shall be limited to $10,000 (ten
thousand dollars). After bridge or other financing is secured, the Company shall also promptly reimburse MDB for any expenses
related to the Engagement that are approved by the Company in writing in advance, with such approval not to be unreasonably withheld.

 

c.           Payments.
All payments to be made to MDB hereunder will be made in cash by wire transfer of immediately available U.S. funds. Except as
expressly set forth herein, no fee payable to MDB hereunder shall be credited against any other fee due to MDB. The obligation
to pay any fee or expense set forth herein shall be absolute and unconditional and shall not be subject to reduction by way of
setoff, recoupment or counterclaim.

 

d.           Compensation
Earned. All compensation to MDB provided under this Agreement will be deemed fully earned as of the date of the payment or
issuance, which once paid or issued is not subject to return in whole or in part or subject to reduction or further limitation.
The Company waives any and all rights of set off against the compensation provided for herein, including any securities underlying
any Warrants.

 

3.          Representations
and Warranties of the Company. The Company warrants and agrees that it is the true and rightful owner of all intellectual
property rights in each of the Assets and Inventions submitted to MDB for analysis; that any and all technical Invention information
provided to MDB may, to the actual knowledge of the officers of the Company, be transmitted across country borders subject to
compliance with applicable export control and similar laws; and that no U.S. agency has suspended, revoked, or denied the Company’s
export privileges.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 4   of 13

 

4.          Term
and Termination. MDB’s Engagement will commence upon the execution of this Agreement and shall continue in effect for
a period of 180 (one hundred eighty) days (the “Initial Term”). After the expiration of the Initial Term, the Agreement
shall automatically renew and continue in effect until it is terminated by either party with thirty (30) days’ written notice
to the other pursuant to Section 10. Upon termination of this Agreement for any reason, the rights and obligations of the parties
hereunder shall terminate, except for the obligations set forth in Sections 2-3 and 5-18, which shall survive termination.         

 

5.          Confidentiality.
MDB acknowledges that in connection with the Engagement, the Company will provide MDB with information which the Company considers
to be confidential, including its trade secrets (“Confidential Information”). MDB agrees to employ all reasonable
efforts to keep the Confidential Information secret and confidential, using no less than the degree of care employed by MDB to
preserve and safeguard its own confidential information, and shall not disclose or reveal the Confidential Information to anyone
except its employees, consultants and contractors who have an obligation of confidentiality with MDB. MDB will not use the Confidential
Information except in connection with its performance of services hereunder, unless disclosure is required by law, court order,
or any government, regulatory or self-regulatory agency or body in the opinion of MDB’s counsel, in which event MDB will
provide the Company with reasonable advance notice of such disclosure. “Confidential Information” does not include
information which (a) was in the public domain or readily available to the trade or the public prior to the date of the disclosure;
(b) becomes generally available to the public in any manner or form through no fault of MDB or its representatives; (c) was in
MDB’s possession or readily available to MDB from another source not under obligation of secrecy to the Company prior to
the disclosure; (d) is rightfully received by MDB from another source on a non-confidential basis; (e) is developed by or for
MDB without reference to the Company’s Confidential Information; (f) is disclosed by Disclosing Party to an unaffiliated
third party free of any obligation of confidence; or (g) is released for disclosure with the Company’s written consent.
Notwithstanding any termination of this Agreement, MDB’s confidentiality obligations (1) in respect of any material that
qualifies as a “Trade Secret” under the Uniform Trade Secrets Act (“UTSA”) shall survive in perpetuity
under the UTSA until such information ceases to be a Trade Secret, and (2) in respect of any non-Trade Secret, for a period of
two years from the date of disclosure.

 

6.          Indemnification.
The Company hereby agrees to indemnify and hold harmless MDB Capital, its directors, officers, agents, employees, members, affiliates,
subsidiaries, and counsel (collectively, the “MDB Indemnified Parties”) to the fullest extent permitted by law from
and against any and all losses, claims, damages, expenses, or liabilities (or actions in respect thereof) (“Losses”),
joint or several, to which they or any of them may become subject under any statute or at common law, and to reimburse such MDB
Indemnified Parties for any reasonable legal or other expense (including but not limited to the cost of any investigation, preparation,
response to third party subpoenas) incurred by them in connection with any litigation or administrative or regulatory action (“Proceeding”),
whether pending or threatened, and whether or not resulting in any liability, insofar as such losses, claims, liabilities, or
litigation arise out of or are based upon: the Company’s use or misuse (including use contrary to federal or state law)
of the Disclosure(s), the Company’s breach of the Representations and Warranties contained in Section 3 hereof, or any violation
of U.S or other import or export controls; provided, however, that while the indemnity provisions herein shall include any and
all claims regardless of whether MDB Capital’s sole negligence, active or passive, contributed to losses, they shall not
apply to (i) amounts paid in settlement of any such litigation if such settlement is effected without the consent of the Company,
which consent will not be unreasonably withheld, or (ii) Losses arising solely from the willful misconduct or gross negligence
of MDB Indemnified Parties.

 

The provisions of this Section 6 shall
survive any termination or expiration of this Agreement.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 5  of 13

 

7.          Work
Product and Announcements. MDB's advice shall be the sole proprietary work product and intellectual property of MDB, and such
advice may not be disclosed, in whole or in part, to third parties other than the Company’s professional advisors without
the prior written permission of MDB, unless such disclosure is required by law. Any document or information prepared by MDB in
connection with this Engagement shall not be duplicated by the Company except as explicitly provided for hereunder or required
by law. The Company acknowledges that MDB, at its option and expense, may place announcements and advertisements or otherwise
publicize the Engagement (which may include the reproduction of the Company’s logo and a hyperlink to the Company’s
website) on MDB’s website and in such financial and other newspapers and journals as it may choose.

 

8.          Limitation
of Liability. MDB shall employ due care and attention in providing the services hereunder. However, the Company acknowledges
that MDB does not warrant or represent the accuracy or completeness of any public information or any information provided solely
by the Company used in any analysis and that inaccurate or incomplete data may affect the validity and reliability of MDB’s
work product, including any draft patent Disclosures. Similarly, MDB makes no representation or warranty with respect to the non-infringement
of any of the Assets or Inventions described in the Disclosure(s). MDB makes no warranty, representation, promise, or undertaking
with respect to any legal or financial consequences of, or any other consequences or benefits obtained from the use of any work
product hereunder, including the Disclosure(s), including any representation that any patent(s) will be granted. The Company assumes
all risks related to documentation or technical information and data which may be subject to U.S. export controls or export or
import restrictions in other countries. MDB SPECIFICALLY DISCLAIMS ANY OTHER WARRANTY, EXPRESS, IMPLIED OR STATUTORY, INCLUDING
ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. MDB SHALL NOT BE LIABLE ON ACCOUNT OF ANY ERRORS, OMISSIONS,
DELAYS, OR LOSSES UNLESS CAUSED BY ITS GROSS NEGLIGENCE OR WILLFUL MISCONDUCT. To the
fullest extent permitted by law, NEITHER MDB NOR any of its controlling persons, affiliates, directors, officers, employees or
consultants will be liable for any loss, damage or injury (including without limitation lost profits, indirect, special, or consequential
damages) alleged to be caused by use of the Disclosure(s) OR OTHER SERVICES PROVIDED HEREUNDER. MDB’S LIABILITY ARISING
UNDER THIS AGREEMENT SHALL BE LIMITED TO THE AMOUNTS PAID BY THE COMPANY TO MDB WITH REGARD TO THE PROVISION OF THE SPECIFIC SERVICES
THAT GAVE RISE TO THE CLAIM OF LIABILITY, BUT IN NO EVENT WILL SUCH LIABILITY EXCEED THE TOTAL AMOUNT ACTUALLY PAID TO MDB PURSUANT
TO SECTION 2.

 

9.          Other
Transactions; Disclaimers. The Company acknowledges that MDB is engaged in a wide range of investing, investment banking and
other activities (including investment management, corporate finance, securities issuance, trading and research and brokerage
activities) from which conflicting interests or duties, or the appearance thereof, may arise. Information held elsewhere within
MDB but not accessible (absent a breach of internal procedures) to its investment banking personnel providing services to the
Company will not under any circumstances affect MDB’s responsibilities to the Company hereunder. The Company further acknowledges
that MDB and its affiliates have and may continue to have investment banking, broker-dealer and other relationships with parties
other than the Company pursuant to which MDB may acquire information of interest to the Company. MDB shall have no obligation
to disclose to the Company or to use for the Company’s benefit any such non-public information or other information acquired
in the course of engaging in any other transaction (on MDB’s own account or otherwise) or otherwise carrying on the business
of MDB. The Company further acknowledges that from time to time MDB’s independent research department may publish research
reports or other materials, the substance and/or timing of which may conflict with the views or advice of MDB’s investment
banking department and/or which may have an adverse effect on the Company’s interests in connection with the transactions
contemplated hereby or otherwise. In addition, the Company acknowledges that, in the ordinary course of business, MDB may trade
the securities of the Company for its own account and for the accounts of its customers, and may at any time hold a long or short
position in such securities. MDB shall nonetheless remain fully responsible for compliance with federal securities laws in connection
with such activities.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 6  of 13

 

The Company further acknowledges and agrees
that MDB will act solely as an independent contractor hereunder, and that MDB’s responsibility to the Company is solely
contractual in nature and that MDB does not owe the Company or any other person or entity, including but not limited to its shareholders,
any fiduciary or similar duty as a result of the Engagement or otherwise.

 

10.         Notice.
All notices, demands, and other communications to given pursuant to this Agreement shall be in writing and shall be personally
delivered, sent by overnight delivery using a nationally recognized courier service, sent by facsimile transmission, or emailed.
Notice shall be deemed received: (a) if personally delivered, upon the date of delivery to the address of the receiving party;
(b) if sent by overnight courier, the date actually received by the recipient; (c) if sent by facsimile or email, when sent. The
parties will each promptly notify the other of any changes to the following contact information.

 

	Notices to MDB shall be sent to:	 	Notices to the Company shall be sent to:
	 	 	 
	MDB Capital Group, LLC	 	DvineWave Inc.
	Attn: Anthony DiGiandomenico	 	207 Veritas Court
	401 Wilshire Blvd., Suite 1020	 	San Ramon, CA 94582
	Santa Monica, California 90401	 	Attn: Michael Leabman
	Fax: (310) 526-5020	 	 
	Email: d@mdb.com	 	 
	 	 	 
	 	 	With a copy to Company counsel at:
	 	 	 
	 	 	Much Shelist, P.C.
	 	 	191 North Wacker Drive, Suite 1800
	 	 	Chicago, IL 60606
	 	 	Reference #10484

 

 11.        Complete Agreement; Amendments; Assignment.
This Agreement sets forth the entire understanding of the parties relating to the subject matter hereof and supersedes and cancels
any prior communications, understandings and agreements, whether oral or written, between MDB and the Company. This Agreement
may not be amended or modified except in writing. The rights of MDB hereunder shall be freely assignable to any affiliate of MDB,
and this Agreement shall apply to, inure to the benefit of and be binding upon and enforceable against the parties and their respective
successors and assigns.

 

12.
       Third Party Beneficiaries. This Agreement is intended solely for the benefit
of the parties hereto and, with the exception of the rights and benefits conferred upon the Indemnified Parties by Section 6
of this Agreement, shall not be deemed or interpreted to confer any rights upon any third parties.

 

13.         Governing
Law; Jurisdiction; Venue. All aspects of the relationship created by this Agreement shall be governed by and construed in
accordance with the laws of the State of California, applicable to contracts made and to be performed in California, without regard
to its conflicts of laws provisions. All actions and proceedings which are not submitted to arbitration pursuant to Section 14
hereof shall be heard and determined exclusively in the state and federal courts located in the County of Los Angeles, State of
California, and the Company and MDB hereby submit to the jurisdiction of such courts and irrevocably waive any defense or objection
to such forum, on forum non conveniens grounds or otherwise. The parties agree to accept service of process by mail, to their
principal business address, addressed to the chief executive officer and secretary thereof. The parties hereby agree that this
Section 13 shall survive the termination and/or expiration of this Agreement. Each of the Company and MDB will use commercially
reasonable efforts to cooperate in connection with a reasonable request of the other to provide information to facilitate compliance
with applicable law and regulation in connection with their respective performance under this Agreement.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 7  of 13

 

14.         Arbitration.
Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation
or validity thereof, including the determination of the scope or applicability of this agreement to arbitrate, shall be determined
by arbitration before one arbitrator in Los Angeles (with the exception of claims to enforce the indemnity provision contained
herein, which may, at the option of the party seeking relief, be submitted either to arbitration or to any court of competent
jurisdiction). The arbitration shall be administered by JAMS pursuant to its Streamlined Arbitration Rules and Procedures, unless
the parties are required to arbitrate by FINRA Rule 12200 subsection (2), in which event the matter shall be submitted to FINRA
Dispute Resolution pursuant to its Code of Arbitration Procedure for Customer Disputes. Judgment on the Award may be entered in
any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration
from a court of appropriate jurisdiction.

 

The arbitrator may, in the Award, allocate
all or part of the costs of the arbitration, including the fees of the arbitrator and the reasonable attorneys’ fees of
the prevailing party. 

 

The parties hereby agree that this Section
14 shall survive the termination and/or expiration of this Agreement.

 

The Company’s and MDB’s consent
to Arbitration are confirmed by initialing below:

 

	 	 	 
	Company	 	MDB

 

15.         Severability.
Should any one or more covenants, restrictions and provisions contained in this Agreement be held for any reason to be void, invalid
or unenforceable, in whole or in part, such unenforceability will not affect the validity of any other term of this Agreement,
and the invalid provision will be binding to the fullest extent permitted by law and will be deemed amended and construed so as
to meet this intent. To the extent any provision cannot be so amended or construed as a matter of law, the validity of the remaining
provisions shall be deemed unaffected and the illegal or invalid provision will be deemed stricken from this Agreement.

 

16.         Section
Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning
hereof.

 

17.         Accounting.
Any calculation, computation or accounting that may be required under this Agreement shall be made in accordance and conformity
with the Generally Accepted Accounting Principles and other standards as determined by the Financial Accounting Standards board
and regulatory agencies with appropriate jurisdiction.

 

18.         Counterparts.
This Agreement may be executed via facsimile transmission and may be executed in separate counterparts, each of which shall be
deemed to be an original and all of which together shall constitute a single instrument.

 

19.         Patriot
Act. MDB hereby notifies the Company that pursuant to the requirements of the USA PATRIOT ACT (the “Patriot Act”),
it is required to obtain, verify and record information that identifies the Company in a manner that satisfies the requirements
of the Patriot Act. This notice is given in accordance with the requirements of the Patriot Act.

 

    	 

    	 

    

 

MDB Engagement Letter

January 23, 2013

p. 8  of 13

 

If the above accords with your understanding
and agreement, kindly indicate your consent hereto by signing below. We look forward to a long and successful relationship with
you.

 

	 	Very truly yours,
	 	 
	 	MDB CAPITAL GROUP LLC
	 	 
	 	/s/ Anthony DiGiandomenico
	 	By:         Anthony DiGiandomenico,
    Partner
	 	                Head
    of Investment Banking

 

ACCEPTED AND AGREED TO

AS OF THE DATE FIRST ABOVE WRITTEN:

 

DvineWave Inc.

 

	/s/ Michael
    Leabman	 
	By: 	Michael Leabman	 
	 	PresidentDated as of __________, 2013

 

MDB Capital Group, LLC

401 Wilshire Boulevard

Santa Monica, California 90401

 

Ladies and Gentlemen:

 

This agreement is being
delivered to you in connection with the proposed Underwriting Agreement (the “Underwriting Agreement”) between
DvineWave, Inc., a Delaware corporation (the “Company”), and MDB Capital Group, LLC (“MDB”)
relating to a proposed underwritten public offering of shares (the “Shares”) of the Company’s Common Stock
(the “Common Stock”).

 

In order to induce
MDB to enter into the Underwriting Agreement, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the undersigned agrees that, during the period beginning on and including the date of the Underwriting
Agreement through and including the one year anniversary of the date of the Underwriting Agreement (the “Lock-Up Period”),
the undersigned, or any affiliated party of the undersigned, will not, without the prior written consent of MDB, directly or indirectly:

 

		(i)	offer, pledge, sell, contract to sell, sell any option or contract
to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer
or dispose of any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, whether
now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter acquires the power
of disposition, or 

 

		(ii)	enter into any swap or other agreement, arrangement or transaction
that transfers to another, in whole or in part, directly or indirectly, any of the economic consequence of ownership of any Common
Stock or any securities convertible into or exercisable or exchangeable for any Common Stock, 

 

whether any transaction described in clause (i)
or (ii) above is to be settled by delivery of Common Stock, other securities, in cash or otherwise. Moreover, if:

 

		(1)	during the last 17 days of the Lock-Up Period, the Company issues an earnings release or material
news or a material event relating to the Company occurs, or 

 

		(2)	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 Lock-Up Period shall be extended and
the restrictions imposed by this agreement shall continue to apply until the expiration of the 18-day period beginning on the date
of issuance of the earnings release or the occurrence of the material news or material event, as the case may be, unless MDB waives,
in writing, such extension.

 

    	 

    	 

    

 

Notwithstanding the provisions set forth
in the immediately preceding paragraph, the undersigned may, without the prior written consent of MDB, (1) transfer any Common
Stock or any securities convertible into or exchangeable or exercisable for Common Stock as a bona fide gift or gifts, or by will
or intestacy, to any member of the immediate family (as defined below) of the undersigned or to a trust the beneficiaries of which
are exclusively the undersigned or members of the undersigned’s immediate family or to a charity or educational institution;
provided, however, that it shall be a condition to the transfer that (A) the transferee executes and delivers to MDB not later
than one business day prior to such transfer, a written agreement, in substantially the form of this agreement and otherwise satisfactory
in form and substance to MDB, and (B) if the undersigned is required to file a report under Section 16(a) of the Securities
Exchange Act of 1934, as amended, reporting a reduction in beneficial ownership of Common Stock or any securities convertible into
or exercisable or exchangeable for Common Stock by the undersigned during the Lock-Up Period (as the same may be extended as described
above), the undersigned shall include a statement in such report to the effect that such transfer or distribution is not a transfer
for value and that such transfer is being made as a gift or by will or intestacy, as the case may be or (2) exercise or convert
currently outstanding warrants, options and convertible debentures, as applicable, and exercise options under an acceptable stock
option plan, so long as the undersigned agrees that the shares of Common Stock received from any such exercise or conversion will
be subject to this agreement. For purposes of this paragraph, “immediate family” shall mean a spouse, child, grandchild
or other lineal descendant (including by adoption), father, mother, brother or sister of the undersigned.

 

The undersigned further
agrees that (i) it will not, during the Lock-Up Period (as the same may be extended as described above), make any demand for
or exercise any right with respect to the registration under the Securities Act of 1933, as amended (the “1933 Act”),
of any Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock, and (ii) the Company
may, with respect to any Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock owned
or held (of record or beneficially) by the undersigned, cause the transfer agent or other registrar to enter stop transfer instructions
and implement stop transfer procedures with respect to such securities during the Lock-Up Period (as the same may be extended as
described above).

 

In addition, the undersigned
hereby waives any and all notice requirements and rights with respect to the registration of any securities pursuant to any agreement,
instrument, understanding or otherwise, including any registration rights agreement or similar agreement, to which the undersigned
is a party or under which the undersigned is entitled to any right or benefit and any tag-along rights or other similar rights
to have any securities (debt or equity) included in the offering contemplated by the Underwriting Agreement or sold in connection
with the sale of Common Stock pursuant to the Underwriting Agreement, provided that such waiver shall apply only to the public
offering of Common Stock pursuant to the Underwriting Agreement and each registration statement filed under the 1933 Act in connection
therewith.

 

The undersigned hereby
represents and warrants that the undersigned has full power and authority to enter into this agreement and that this agreement
has been duly executed and delivered by the undersigned and is a valid and binding agreement of the undersigned. This agreement
and all authority herein conferred are irrevocable and shall survive the death or incapacity of the undersigned and shall be binding
upon the heirs, personal representatives, successors and assigns of the undersigned.

 

[Signature Page Immediately
Follows]

 

    	2

    	 

    

 

IN WITNESS WHEREOF,
the undersigned has executed and delivered this agreement as of the date first set forth above.

 

	 	Yours very truly,
	 	 
	 	 
	 	 
	 	Print Name:	 

 

Signature Page — Letter to

MDB Capital Group, LLC

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