Document:

EXHIBIT 10.3

Execution Version

 

SECURITIES PURCHASE
AGREEMENT

 

SECURITIES PURCHASE AGREEMENT (the “Agreement”),
dated as of July 16, 2019, by and among Applied DNA Sciences, Inc., a Delaware corporation, with headquarters located at 50 Health
Sciences Drive, Stony Brook, New York 11790 (the “Company”), and the investor listed on the Schedule of Buyers
attached hereto (the “Buyer”).

 

WHEREAS:

 

A.           The
Company and the Buyer is executing and delivering this Agreement in reliance upon the exemption from securities registration afforded
by Section 4(a)(2) of the Securities Act of 1933, as amended (the “1933 Act”), and Rule 506(b) of Regulation
D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the 1933 Act.

 

B.           The
Company has authorized a new series of secured convertible notes of the Company which notes shall be convertible into the Company’s
common stock, $0.001 par value per share (the “Common Stock”), all in accordance with the terms of the Notes
(as defined below).

 

C.           The
Buyer wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, that principal
amount of the Notes, in substantially the form attached hereto as Exhibit A (the “Notes”), set forth
opposite the Buyer’s name in column (3) on the Schedule of Buyers attached hereto. The Notes will be one of an issue
of senior secured convertible notes of the Company previously issued pursuant to those certain securities purchase agreements dated
August 31, 2018 and November 28, 2018, respectively, by and among the parties thereto (such other secured convertible notes, the
 “Other Notes” and collectively with the Notes, the “Company Notes”).  

 

D.           Contemporaneously
with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration Rights Agreement,
substantially in the form attached hereto as Exhibit B (the “Registration Rights Agreement”), pursuant to which
the Company has agreed to provide certain registration rights with respect to the Registrable Securities (as defined in the Registration
Rights Agreement) under the 1933 Act and the rules and regulations promulgated thereunder, and applicable state securities laws.

 

E.           The
Common Stock issued upon the conversion of the Notes shall be known as the “Conversion Shares.”

 

F.           The
Notes and the Conversion Shares are collectively referred to herein as the “Securities.”

 

G.           The
Notes will be secured by a security interest in substantially all of the assets of the Company, as evidenced by the security agreement,
substantially in the form attached hereto as Exhibit C (the “Security Document”), which shall be executed
within five (5) Business Days of the Closing.

 

NOW, THEREFORE, the Company and each
Buyer hereby agree as follows:

 

1.            PURCHASE
AND SALE OF NOTES. 

 

(a)          Purchase
of Notes.  Subject to the satisfaction (or waiver) of the conditions set forth in Sections 6 and 7 below, the Company
shall issue and sell to the Buyer, and the Buyer agrees to purchase from the Company on the applicable Closing Date (as defined
below), a principal amount of Notes as is set forth opposite such Buyer’s name in column (3) on the Schedule of Buyers (the
 “Closing”).  

 

In addition, the Buyer and/or its affiliated
designees (“Buyer Affiliates”) shall have the option to purchase (the “Option”) from the
Company up to $1,500,000 of additional Notes with the same terms, conditions and price as the Notes purchased on the Closing Date
(the “Additional Notes”) on or before the 90th day following the Closing, by written notice from
the Buyer to the Company (the “Option Notice”), provided that, the Company shall have the right to refuse
the exercise of the Option by the Buyer or Buyer Affiliates for any amounts greater than $500,000 in the event the Company does
not need additional funding by providing written notice of such refusal to the Buyer and/or Buyer Affiliates within three business
days following the receipt of the Option Notice.  The Option Notice shall set forth the aggregate principal amount of
Additional Notes as to which the Option is being exercised and the date and time when the Additional Notes shall be delivered.  Any
such Option Notice shall be given at least five business days prior to the date and time of delivery specified therein.

 

     

     

    

 

(b)          Closing.  The
Closing shall occur on the applicable Closing Date (as defined below) at the offices of Pepper Hamilton LLP, 620 Eighth Avenue,
New York, NY 10018.

 

(c)          Purchase
Price.  The purchase price for the Buyer of the Notes at the Closing shall be the amount set forth opposite such
Buyer’s name in column (4) of the Schedule of Buyers (the “Purchase Price”).

 

(d)          Closing
Date.  The date and time of each Closing (each, a “Closing Date”) shall be mutually agreed by
the Company and the Buyer after notification of satisfaction (or waiver) of the conditions to the Closing set forth in Sections
6 and 7 below.

 

(e)          Delivery
and Payment.  On or prior to the Closing Date, the Buyer shall pay its Purchase Price for the Notes to be issued
and sold to the Buyer at the Closing by check or wire transfer of immediately available funds to such account or accounts of the
Company as the Company shall specify, and the Company shall deliver to such Buyer, the Notes (in the principal amounts as such
Buyer shall request) which such Buyer is then purchasing duly executed on behalf of the Company and registered in the name of such
Buyer or its designee.

 

2.            BUYER’S
REPRESENTATIONS AND WARRANTIES. 

 

The Buyer represents and warrants that:

 

(a)          No
Public Sale or Distribution.  Such Buyer is (i) acquiring the Notes and (ii) upon conversion of the Notes will acquire
the Conversion Shares issuable upon conversion of the Notes, for its own account and not with a view towards, or for resale in
connection with, the public sale or distribution thereof, except pursuant to sales registered or exempted under the 1933 Act. Except
as previously disclosed to the Company in writing, such Buyer (i) does not presently have any agreement or understanding,
directly or indirectly, with any Person (defined as any individual, limited liability company, partnership, joint venture, corporation,
trust, unincorporated organization, government or any department or agency thereof) to distribute any of the Securities, and (ii)
is not a broker-dealer registered with the SEC under the Securities Exchange Act of 1934, as amended (the “1934 Act”),
or any entity engaged in the business that would require it to be so registered as a broker-dealer.

 

(b)          Accredited
Investor Status.  Such Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation
D.

 

(c)          Reliance
on Exemptions.  Such Buyer understands that the Securities are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
in part upon the truth and accuracy of, and such Buyer’s compliance with, the representations, warranties, agreements, acknowledgments
and understandings of such Buyer set forth herein in order to determine the availability of such exemptions and the eligibility
of such Buyer to acquire the Securities.

 

(d)          Information.  Such
Buyer and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the
Company and materials relating to the offer and sale of the Securities, which have been requested by such Buyer.  Such
Buyer and its advisors, if any, have reviewed a copy of the Company’s most recent Annual Report on Form 10-K (including any
risk factors), Quarterly Reports on Form 10-Q (including any risk factors), Proxy Statements on Form Def 14A and current reports
on Form 8-K.  Such Buyer and its advisors, if any, have been afforded the opportunity to ask questions of the Company.  Such
Buyer understands that its investment in the Securities involves a high degree of risk.  Such Buyer has sought such accounting,
legal and tax advice as it has considered necessary to make an informed investment decision with respect to its acquisition of
the Securities.  

 

(e)          No
Governmental Review.  Such Buyer understands that no United States federal or state agency or any other government
or governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability
of the investment in the Securities nor have such authorities passed upon or endorsed the merits of the offering of the Securities.
Any statement to the contrary is unlawful.

 

    	 	-2-	 

     

    

 

(f)          Legends.  Such
Buyer understands that the certificates or other instruments representing the Securities have been issued pursuant to an exemption
from registration or qualification under the 1933 Act and applicable state securities laws, and except as set forth below, the
Securities shall bear any legend as required by the “blue sky” laws of any state and a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of such stock certificates):

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.  THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED
OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY ACCEPTABLE TO THE COMPANY,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER
SAID ACT.

 

Certificates evidencing Securities shall not
be required to contain the legend set forth above or any other legend (i) while a registration statement covering the resale of
such Securities is effective under the 1933 Act, (ii) following any sale of such Securities pursuant to Rule 144 (assuming the
transferor is not an affiliate of the Company), (iii) if such Securities are eligible to be sold, assigned or transferred under
Rule 144 (provided that Buyer provides the Company with reasonable assurances that such Securities are eligible for sale, assignment
or transfer under Rule 144), (iv) in connection with a sale, assignment or other transfer (other than under Rule 144), provided
that Buyer provides the Company with an opinion of counsel to Buyer from reputable counsel to the effect that such sale, assignment
or transfer of the Securities may be made without registration under the applicable requirements of the 1933 Act or (v) if such
legend is not required under applicable requirements of the 1933 Act (including, without limitation, controlling judicial interpretations
and pronouncements issued by the SEC).

 

If a legend is not required pursuant to the
foregoing, the Company shall no later than two (2) Business Days following the delivery by the Buyer to the Company or the transfer
agent (with notice to the Company) of a legended certificate representing such Securities (endorsed or with stock powers attached,
signatures guaranteed, and otherwise in form necessary to affect the reissuance and/or transfer, if applicable), together with
any other deliveries from the Buyer as may be required above in this Section 2(f), as directed by the Buyer, either: (A) provided
that the Company’s transfer agent is participating in the DTC Fast Automated Securities Transfer Program and such Securities
are Conversion Shares, credit the aggregate number of shares of Common Stock to which the Buyer shall be entitled to the Buyer’s
or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system or (B) if the Company’s
transfer agent is not participating in the DTC Fast Automated Securities Transfer Program or the Securities are not shares of Common
Stock, issue and deliver (via reputable overnight courier) to the Buyer, a certificate representing such Securities that is free
from all restrictive and other legends, registered in the name of the Buyer or its designee.

 

(g)          Validity;
Enforcement.  This Agreement, the Registration Rights Agreement and the Security Document to which such Buyer is
a party have been duly and validly authorized, executed and delivered on behalf of such Buyer and shall constitute the legal, valid
and binding obligations of such Buyer enforceable against such Buyer in accordance with their respective terms, except as such
enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation or other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and
remedies.

 

(h)          Residency.  Such
Buyer is a resident of that jurisdiction specified below its address on the Schedule of Buyers.

 

(i)          Brokers
and Finders.  No Person will have, as a result of the transactions contemplated by the Transaction Documents, as
defined below, any valid right, interest or claim against or upon the Company for any commission, fee or other compensation pursuant
to any agreement, arrangement or understanding with a placement agent entered into by or on behalf of such Buyer.

 

    	 	-3-	 

     

    

 

(j)          Confidentiality
Prior To The Date Hereof.  Other than to other Persons party to this Agreement, such Buyer has maintained the confidentiality
of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction).

 

(k)          Sold
to Various Buyers. Such Buyer understands that the Notes (i) may be sold to various buyers in one or more Closings, (ii) will
generally be for a term of three years but may have varying maturity dates, (iii) may be purchased by officers and directors of
the Company, (iv) regardless of issue or sale date, will be secured on a pari passu basis by the same Security Document,
and the perfection of any related security interest is not required to occur until 30 days after the first Closing Date and (v)
may be issued in a principal amount of up to $5,500,000. In addition, Buyer understands that a majority of the principal amount
of the Notes outstanding prior to the date hereof have been purchased by the Chief Executive Officer of the Company (the “CEO”).  Buyer
also understands that so long as the principal amount of the Company Notes does not exceed $5,500,000 the Company may offer and
sale additional Company Notes to existing holders or new investors without such Buyer’s prior consent or approval.  Further,
Buyer understands that an affirmative vote of the holders of at least 70% of the outstanding principal of the Company Notes are
required to direct the approval of amendments to the Transaction Documents and to control the demand rights granted pursuant to
the Registration Rights Agreement, an affirmative vote of holders of at least 50% of the outstanding principal of the Company Notes
are required to direct the actions of the Collateral Agent and an affirmative vote of at least 30% of the outstanding principal
of the Company Notes is required to call an Event of Default (as defined in the Company Notes).

 

(l)          Buyer
Affiliates.  In the event a Buyer Affiliate exercises the Option to purchase any Additional Notes, the Buyer hereby
represents and warrants to the Company as of the date hereof and covenants and agrees from and after the date hereof that the Buyer
will cause any such Buyer Affiliate to provide written confirmation to the Company that such Buyer Affiliate represents and warrants
to the Company to the same extent of the representations and warranties contained in this Section 2 and further agree that such
Buyer Affiliate is bound by the terms of this Agreement to the same extent as if it were a party hereto.

 

3.            REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. 

 

The Company represents and warrants to the Buyer
as of the date hereof that:

 

(a)          Organization
and Qualification.  The Company is duly organized and validly existing in good standing under the laws of the jurisdiction
in which it is formed, and has the requisite power and authorization to own its properties and to carry on its business as now
being conducted.

 

(b)          Authorization;
Enforcement; Validity.  The Company and its Subsidiaries each has the corporate power and authority to enter into
and perform its obligations under this Agreement, the Notes, the Registration Rights Agreement, the Security Document, the Transfer
Agent Instructions (substantially in the Form of Exhibit D) to which it is a party, and each of the other agreements entered into
by the parties hereto in connection with the transactions contemplated by this Agreement (collectively, the “Transaction
Documents”) and to issue the Securities in accordance with the terms hereof and thereof.  The execution and
delivery of the Transaction Documents by the Company and its Subsidiaries and the consummation by the Company and its Subsidiaries
of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Notes, the reservation
for issuance and the issuance of the Conversion Shares issuable upon conversion of the Notes, and the granting of a
security interest in the Collateral (as defined in the Security Document), have been duly authorized by the Company’s and
such Subsidiaries’ respective Board of Directors and no further consent, or authorization is required by the Company, such
Subsidiaries, their respective Board of Directors or their respective stockholders.  This Agreement and the other Transaction
Documents have been duly executed and delivered by the Company and such Subsidiaries, and constitute the legal, valid and binding
obligations of the Company and such Subsidiaries, enforceable against the Company and such Subsidiaries in accordance with their
respective terms, except (i) the perfection of any security interest required by the Security Document need not occur until 45
days after the first Closing Date and (ii) as such enforceability may be limited by general principles of equity or applicable
bankruptcy, insolvency, reorganization, moratorium, liquidation or other similar laws relating to, or affecting generally, the
enforcement of applicable creditors’ rights and remedies.

 

    	 	-4-	 

     

    

 

(c)          Issuance
of Securities.  The issuance of the Notes are duly authorized and are free from all taxes, liens and charges with
respect to the issue thereof.  As of the Closing, 660,000 shares of Common Stock shall have been duly authorized and
reserved for issuance which equals 100% of the maximum number of shares Common Stock issuable upon conversion of the Notes.  Upon
conversion in accordance with the Notes, the Conversion Shares will be validly issued, fully paid and nonassessable and free from
all preemptive or similar rights, taxes, liens and charges with respect to the issue thereof, with the holders being entitled to
all rights accorded to a holder of Common Stock.  Subject to the accuracy of the representations made by the Buyer in
Section 2, the offer and issuance by the Company of the Securities is exempt from registration under the 1933 Act.

 

(d)          No
Conflicts.  The execution, delivery and performance of the Transaction Documents by the Company and its Subsidiaries
and the consummation by the Company and its Subsidiaries of the transactions contemplated hereby and thereby (including, without
limitation, the issuance of the Notes, the granting of a security interest in the Collateral and reservation for issuance and issuance
of the Conversion Shares) will not (i) result in a violation of the Certificate of Incorporation of the Company, as amended from
time to time and as in effect on the date hereof (the “Certificate of Incorporation”) or any certificate or
articles of incorporation, certificate of formation, any certificate of designations or other charter document of any of its Subsidiaries,
or the Bylaws of the Company, as amended from time to time and as in effect on the date hereof (the “Bylaws”),
or any of its Subsidiaries or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both
would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement,
indenture or instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation of any law,
rule, regulation, order, judgment or decree (including federal and state securities laws and regulations and the rules and regulations
of The NASDAQ Capital Market (the “Principal Market”)) applicable to the Company or any of its Subsidiaries
or by which any property or asset of the Company or any of its Subsidiaries is bound or affected, except in the case of
clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations that would not, individually or in the aggregate,
have a Material Adverse Effect. As used in this Agreement, “Material Adverse Effect” means any material
adverse effect on the business, properties, assets, operations, results of operations, condition (financial or otherwise) or prospects
of the Company and its Subsidiaries, taken as a whole, or on the transactions contemplated by this Agreement and the other Transaction
Documents, or on the authority or ability of the Company to perform its obligations under the Transaction Documents.

 

(e)          Consents.  Except
for the filing with the SEC of one or more Registration Statements in accordance with the requirements of the Registration Rights
Agreement, the filing with the SEC of a Current Report on Form 8-K describing the terms of the transactions contemplated by the
Transaction Documents, the filing of the Form D with the SEC and for such filings as shall be required under state securities or
 “blue sky” laws, and the filing of any notice with the Financial Industry Regulatory Authority, neither the Company
nor any of its Subsidiaries is required to obtain any consent, authorization or order of, or make any filing or registration with,
any court, governmental agency or any regulatory or self-regulatory agency or any other Person in order for it to execute, deliver
or perform any of its obligations under or contemplated by the Transaction Documents, in each case in accordance with the terms
hereof or thereof, which have not been or will not be obtained or effected on or prior to the Closing Date, and the Company and
its Subsidiaries have no knowledge of any facts or circumstances which might prevent the Company from obtaining or effecting any
of the registration, application or filings pursuant to the preceding sentence.

 

(f)          Material
Assets of Subsidiaries.  Other than LineaRX, Inc., a Delaware corporation and APDN (B.V.I.) Inc., a corporation organized
under the laws of the British Virgin Islands, no Subsidiary of the Company holds any material assets of the Company.    

 

4.            COVENANTS. 

 

(a)          Reasonable
Best Efforts.  Each party shall use its reasonable best efforts timely to satisfy each of the covenants and conditions
to be satisfied by it as provided in Sections 6 and 7 of this Agreement.

 

    	 	-5-	 

     

    

 

(b)          Disclosure
of Transactions and Other Material Information.  On or before 8:30 a.m., New York City time, by the fourth (4th)
Business Day following the date of this Agreement, the Company shall file a Current Report on Form 8-K describing the terms of
the transactions contemplated by the Transaction Documents in the form required by the 1934 Act and attaching the material Transaction
Documents (including, without limitation, this Agreement (and all schedules to this Agreement), the form of the Notes, the Registration
Rights Agreement and the Security Document) as exhibits to such filing (including all attachments, the “8-K Filing”).  As
used herein, “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.

 

(c)          Reservation
of Shares.  So long as the Buyer owns any Securities, the Company shall take all action necessary to at all times
have authorized, and reserved for the purpose of issuance, no less than 100% of the number of shares of Common Stock issuable upon
conversion of the Notes then outstanding (without taking into account any limitations on the conversion of the Notes set forth
in the Notes).

 

(d)          Collateral
Agent.

 

(i)          Delaware
Trust Company, a Delaware corporation (“Delaware Trust”) is hereby appointed Collateral Agent under the Security
Document and the Buyer hereby authorizes Delaware Trust, in such capacity, to act as its agent in accordance with the terms of
the Security Document and this Agreement.  The provisions of this Section 4(d) are solely for the benefit of the Buyer
and the Company and its Affiliates shall not have any rights as a third party beneficiary of any of the provisions thereof.  In
performing its functions and duties under the Security Document and this Agreement, the Collateral Agent shall act solely as an
agent of the Buyer and does not assume and shall not be deemed to have assumed any obligation towards or relationship of agency
or trust with the Company or any of its Affiliates.  The Collateral Agent shall be obligated, and shall have the powers
and rights, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking
any action (including, without limitation, the release or substitution of Collateral), solely in accordance with this Agreement
and the Security Document.  If any provision, duty, obligation or right under the Security Document is in conflict with
any provision, duty, obligation or right under this Agreement then this Agreement shall control.  The Collateral Agent
shall not have any duties or responsibilities, except those expressly set forth herein and in the Security Document and such powers
as are incidental thereto.

 

(ii)         The
Buyer irrevocably authorizes the Collateral Agent to take such action on such Buyer’s behalf and to exercise such powers,
rights and remedies hereunder as are specifically delegated or granted to the Collateral Agent by the terms of this Agreement and
the Security Document, together with such powers, rights and remedies as are reasonably incidental thereto.  The Collateral
Agent shall have only those duties and responsibilities that are expressly specified herein and therein.  The Collateral
Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees.  Notwithstanding
any other provisions hereof or of any provision of the Security Document, the Collateral Agent shall not have or be deemed to have
any fiduciary relationship with the Buyer or any other person or entity, and no implied covenants, functions, responsibilities,
duties, obligations or liabilities shall be read into this Agreement or the Security Document or otherwise exist against the Collateral
Agent.  Without limiting the generality of the foregoing sentence, the use of the term “agent” in this Agreement
or the Security Document with reference to the Collateral Agent is not intended to connote any fiduciary or other implied (or express)
obligations arising under agency doctrine of any applicable law.

 

(iii)        The
Collateral Agent may act in reliance upon any writing or instrument or signature which it, in good faith, believes to be genuine,
and may assume the validity and accuracy of any statement or assertion contained in such a writing or instrument and may assume
that any person or entity purporting to give any writing, notice, advice or instruction in connection with the provisions hereof
has been duly authorized to do so.  The Collateral Agent may consult with counsel and shall be entitled to act, and shall
be fully protected in any action taken in good faith, in accordance with advice given by counsel.  The Collateral Agent
shall not be liable to the Company or any of its Affiliates, or the Buyer for any recitals or warranties herein or in the Security
Document, nor for the effectiveness, enforceability, validity or due execution of the Security Document or any other agreement,
document or instrument, nor to make any inquiry respecting the performance by any party of their respective obligations thereunder.  Any
such inquiry which may be made by the Collateral Agent shall not obligate it to make any further inquiry or to take any action.

 

    	 	-6-	 

     

    

 

(iv)        The
Collateral Agent shall not be required to take any action which, in the Collateral Agent’s sole and absolute judgment, could
involve it in expense or liability unless furnished with security and indemnity which it deems, in its sole and absolute discretion,
to be satisfactory.  In the event the Collateral Agent receives conflicting instructions hereunder or under any of the
Security Document, the Collateral Agent shall be fully protected in refraining from acting until such conflict is resolved to the
satisfaction of the Collateral Agent.  Neither the Collateral Agent nor any of its directors, officers, employees or
agents shall be liable, except for the Collateral Agent’s bad faith, negligence or willful misconduct as finally determined
by a court of competent jurisdiction for any action taken or omitted under or in connection with this Agreement, the Security Document
or any other instrument or document in connection herewith or therewith.

 

(v)         The
Collateral Agent may resign or be removed by the holders of the Company Notes (by an affirmative vote of the holders of at least
50% of the outstanding principal of the Company Notes) as Collateral Agent hereunder at any time upon at least thirty (30) days’
prior notice.  If the Collateral Agent at any time shall resign, the holders of the Company Notes shall (by an affirmative
vote of the holders of at least 50% of the outstanding principal of the Company Notes), within ten (10) days after such notice
appoint a successor Collateral Agent which shall thereupon become the Collateral Agent hereunder and under the Security Document.  If
no successor Collateral Agent shall have been so appointed, and shall have accepted such appointment, within the above time frame
the retiring Collateral Agent may appoint a successor.  Upon the acceptance of any appointment as Collateral Agent hereunder
by a successor Collateral Agent, such successor Collateral Agent shall be entitled to receive from the retiring Collateral Agent
such documents of transfer and assignment as such successor Collateral Agent may reasonably request, and shall thereupon succeed
to and become vested with all rights, powers, privileges and duties of the retiring Collateral Agent, and the retiring Collateral
Agent shall be discharged from its duties and obligations under this Agreement.  After the effective date of any retiring
Collateral Agent’s resignation hereunder as collateral agent, the provisions of this section shall inure to its benefit as
to any actions taken or omitted to be taken by it while it was Collateral Agent under this Agreement.

 

(vi)        The
Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any default unless the Collateral Agent has
received a copy of a notice thereof from the Buyer referring to this Agreement and describing such default.  In the event
that the Collateral Agent receives such a notice, the Collateral Agent shall promptly give notice thereof to the other holders
of the Company Notes and to the Company.  The Collateral Agent shall be permitted to take such action with respect to
any default as provided in this Agreement and the Security Document.

 

(vii)       The
Buyer, by its acceptance of the benefits hereof and of the Security Document, agrees that it shall have no right individually to
realize upon any of the Collateral, it being understood and agreed by the Buyer that all rights and remedies may be exercised solely
by the Collateral Agent for the benefit of the Buyer in accordance with the provisions of this Agreement and the Security Document
in the Collateral Agent’s sole and absolute discretion.

 

(viii)      Upon
any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to its
creditors upon any dissolution or winding-up or total or partial liquidation or reorganization of the Company, whether voluntary
or involuntary or in bankruptcy, insolvency, receivership or other proceedings including, without limitation, all amounts received
by the Collateral Agent on behalf of the Buyer, or received by the Buyer, shall be paid by the Company in accordance with its outstanding
Secured Obligations (as defined in the Security Document) to the Buyer in accordance with clause (xi) below.  Any and
all amounts referred to in this clause (viii) or any other amounts or proceeds of collateral received by the Buyer (x) shall be
held in trust for the benefit of all of the holders of the Company Notes, (y) shall be immediately delivered by the Buyer to the
Collateral Agent in the amount and form received, and (z) shall be apportioned, paid over or delivered among the holders of the
Company Notes in accordance with clause (xi) of this Agreement.

 

(ix)         Except
as provided by law, the security interests in the Collateral shall be for the ratable benefit of the holders of the Company Notes,
shall rank equally in priority, none being senior or subordinate to any other.  The Buyer shall not contest the validity,
perfection, priority or enforceability of the lien of any other holder of the Company Notes in the Collateral.  The Buyer,
by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the Collateral
under this Agreement, the Security Document, pursuant to applicable law, or otherwise, it being understood and agreed by the Buyer
that all rights and remedies under this Agreement, the Security Document, pursuant to applicable law, or otherwise, may be exercised
solely by the Collateral Agent for the benefit of the Buyer in accordance with the provisions of this Agreement and the Security
Document.

 

    	 	-7-	 

     

    

 

(x)          Upon
any payment or distribution of assets of the Company of any kind or character, whether in cash, property or securities, to creditors
upon any dissolution or winding-up or total or partial liquidation or reorganization of the Company, whether voluntary or involuntary
or in bankruptcy, insolvency, receivership or other proceedings (each such payment, distribution and/or amount is hereafter referred
to as a “Collateral Proceeds Amount”), shall be disbursed in accordance with clause (xi) below.

 

(xi)         Any
and all Collateral Proceeds Amount and any other amounts or proceeds of Collateral received by the Buyer shall be held in trust
for the benefit of all of the holders of the Company Notes, shall be immediately delivered by the Buyer to the Collateral Agent
in the amount and form received, and, subject to the rights to any of the Collateral Proceeds Amount or such other amounts or proceeds
of Collateral of the holders of the other security interests in the Collateral referred to in clause (x) above, shall be apportioned,
paid over or delivered as follows: first, to the Collateral Agent for the payment or reimbursement of any expenses and fees
of, or any other amount payable to, the Collateral Agent hereunder or under the Security Document, and next, among the holders
of the Company Notes on a pro rata basis to each in accordance with the Company’s outstanding obligations to each of the
holders of the Company Notes.

 

(e)          Ranking.

 

(i)          All
payments due under the Notes shall rank pari passu with the Other Notes.

 

(f)          Participation
in Future Financing.

 

(i)          From
the date hereof until the date that is the 12 month anniversary of the Closing Date, upon any issuance by the Company of (i) Common
Stock for cash consideration, (ii) any securities of the Company which would entitle the holder thereof to acquire at any time
Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any
time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock (“Common
Stock Equivalents”) for cash consideration, (iii) debt securities or (iv) a combination of units thereof (a “Subsequent
Financing”), the Buyer and/or its affiliated designees shall have the right to participate in such Subsequent Financing
up to an amount equal to the amount required for the Buyer to maintain its pro rata ownership of Company as if the Notes had been
fully converted into Common Shares (the “Participation Maximum”) on the same terms, conditions and price provided
for in the Subsequent Financing; provided that from the date hereof until the date that is 90 days after the Closing Date,
the Buyer and/or its affiliated designees shall have the right to participate (x) in full of the first $1,000,000 of such Subsequent
Financing (it is understood and agreed that the Buyer’s right to participate in a Subsequent Financing is in addition to
the Buyer’s right to purchase Additional Note pursuant to Section 1(a) hereof) and (y) up to the Participation Maximum of
any such Subsequent Financing in excess of $1,000,000; provided further that the Buyer and/or its affiliated designees shall
not have the right to participate pursuant to this Section 4(f) to the extent that after giving effect to such participation, such
Buyer (together with such Buyer’s affiliates, and any persons acting as a group together with such Buyer or its affiliates)
would beneficially own in excess of 9.99% of the Common Stock outstanding immediately after giving effect to the Subsequent Financing.
For purposes of the foregoing proviso, beneficial ownership shall be calculated in accordance with Section 13(d) of the 1934 Act.

 

(ii)         Between
the time period of 4:00 pm (New York City time) and 6:00 pm (New York City time) at least three (3) Trading Days (as defined in
the Note) immediately prior to the Trading Day of the expected announcement of the Subsequent Financing (or, if the Trading Day
of the expected announcement of the Subsequent Financing is the first Trading Day following a holiday or a weekend (including a
holiday weekend), between the time period of 4:00 pm (New York City time) on the first Trading Day immediately prior to such holiday
or weekend and 2:00 pm (New York City time) on the third day immediately prior to the Trading Day of the expected announcement
of the Subsequent Financing), the Company shall deliver to the Buyer a written notice of the Company’s intention to effect
a Subsequent Financing (a “Subsequent Financing Notice”), which notice shall describe in reasonable detail the
proposed terms of such Subsequent Financing, the amount of proceeds intended to be raised thereunder and the Person or Persons
through or with whom such Subsequent Financing is proposed to be effected and shall include a term sheet, and if available the
transaction documents relating thereto as an attachment, provided that, if such transaction documents are not available
at the time of the Subsequent Financing Notice, such transaction document shall be delivered as promptly as possible, but in any
event by 10:00 pm (New York City time) on the date prior to the expected announcement of the Subsequent Financing.

 

    	 	-8-	 

     

    

 

(iii)        If
the Buyer desires to participate in such Subsequent Financing, it must provide written notice to the Company by 6:30 am (New York
City time) on the Trading Day following the date on which the Subsequent Financing Notice is delivered to the Buyer (the “Notice
Termination Time”) that such Buyer is willing to participate in the Subsequent Financing, the amount of such Buyer’s
participation, and representing and warranting that such Buyer has such funds ready, willing, and available for investment on the
terms set forth in the Subsequent Financing Notice.  If the Company receives no such notice from the Buyer as of such
Notice Termination Time, such Buyer shall be deemed to have notified the Company that it does not elect to participate in such
Subsequent Financing.

 

(iv)        The
Company must provide the Buyer with a new Subsequent Financing Notice, and the Buyer will again have the right of participation
set forth above in this Section 4(f), in connection with a Subsequent Financing if the definitive agreement related to the initial
Subsequent Financing Notice is not entered into for any reason substantially on the terms set forth in such Subsequent Financing
Notice by 5:30 pm (New York City time) on the second (2nd) Trading Day following date of delivery of the initial Subsequent Financing
Notice.

 

(v)         Notwithstanding
anything to the contrary in this Section 4(f) and unless otherwise agreed to by the Buyer, the Company shall either confirm in
writing to such Buyer that the transaction with respect to the Subsequent Financing has been abandoned or shall publicly disclose
its intention to issue the securities in the Subsequent Financing, in either case in such a manner such that such Buyer will not
be in possession of any material, non-public information, by 5:30 pm (New York City time) on the third (3rd) Trading Day following
date of delivery of the Subsequent Financing Notice.  If by 5:30 pm (New York City time) on such third (3rd) Trading
Day, no public disclosure regarding a transaction with respect to the Subsequent Financing has been made, and no notice regarding
the abandonment of such transaction has been received by such Buyer, such transaction shall be deemed to have been abandoned and
such Buyer shall not be deemed to be in possession of any material, non-public information with respect to the Company or any of
its Subsidiaries.

 

(g)          After-Acquired
Subsidiary.  The Company will, upon the acquisition or creation of any Subsidiary after the date hereof (each subsidiary,
an “After-Acquired Subsidiary”), cause such After-Acquired Subsidiary (i) to execute a guaranty guaranteeing
the principal and interest of the Notes with the Collateral Agent for the ratable benefit of the holders of the Company Notes and
(ii) to grant to the Collateral Agent, for the ratable benefit of the holders of the Company Notes, a security interest in all
of such After-Acquired Subsidiary’s tangible and intangible assets.  

 

(h)          Subsidiary
Collateral Sales.  In the event the Company sells any assets (other than asset sales in the ordinary course) of any
Subsidiary after the date hereof or causes such Subsidiary to sell any assets (other than asset sales in the ordinary course),
the Company will first offer the net proceeds of such asset sale to repay the Company Notes on a pro rata basis to each holder
of the Company Notes in accordance with the Company’s outstanding obligations to each of the holders of the Company Notes.  The
Company shall provide 10 days prior written notice of such asset sale (the “Asset Sale Notice”) to the holders
of the Company Notes.  If the Buyer exercises its right to receive the net proceeds of such asset sale on a pro rata
basis, such Buyer must provide notice in writing to the Company on or before the fifth Trading Day following the date on which
the Asset Sale Notice was delivered to the Buyer;  provided that if the Company receives no such notice in writing
from the Buyer, such Buyer shall be deemed to have notified that Company that it does not elect such right to receive the net proceeds
of such asset sale on a pro rata basis.

 

(i)          Loans
to Subsidiaries.  After the date hereof, the Company shall not, directly or indirectly, lend to or invest in any
Subsidiary of the Company without causing such Subsidiary (i) to execute a guaranty in the amount of such funds received from the
Company guaranteeing the principal and interest of the Notes with the Collateral Agent for the ratable benefit of the holders of
the Company Notes and (ii) to grant to the Collateral Agent, for the ratable benefit of the holders of the Company Notes, a security
interest in the amount of such funds received from the Company in all of such Subsidiary’s tangible and intangible assets.

 

    	 	-9-	 

     

    

 

(j)          Most
Favored Nation. Notwithstanding Section 2(k) above, the Company hereby represents and warrants as of the date hereof and covenants
and agrees from and after the date hereof that none of the terms offered to any holder of Company Notes (“Other Holders”)
under any Transaction Document (or any amendment, modification, waiver, release or side agreements thereof, including but not limited
to conversion price, pre-emptive rights or redemption rights) (each an “Alternate Agreement”), is or will be
more favorable to such Other Holder than those of the Buyer.  If, and whenever on or after the date hereof, the Company
enters into an Alternative Agreement, then (i) the Company shall provide written notice thereof to the Buyer promptly following
the occurrence thereof and (ii) the terms and conditions of the Transaction Documents shall be, without any further action by the
Buyer or the Company, automatically amended and modified in a reasonably economical and legally equivalent manner such that the
Buyer shall receive the benefit of the more favorable terms and/or conditions (as the case may be) set forth in such Alternative
Agreement, provided that upon written notice to the Company at any time the Buyer may elect not to accept the benefit of
any such amended or modified term or condition, in which event the term or condition contained in the applicable Transaction Document
shall apply to the Buyer as it was in effect immediately prior to such amendment or modification as if such amendment or modification
never occurred with respect to the Buyer.  The provisions of this paragraph shall apply similarly and equally to each
Alternative Agreement and shall not be waivable hereunder absent the prior written consent of the Buyer.

 

5.            REGISTER;
TRANSFER AGENT INSTRUCTIONS. 

 

(a)          Register.  The
Company shall maintain at its principal executive offices (or such other office or agency of the Company as it may designate by
notice to each holder of Securities), a register for the Notes in which the Company shall record the name and address of the Person
in whose name the Notes have been issued (including the name and address of each transferee), the aggregate number of Notes held
by such Person, and any tax related information required to be maintained.  The Company shall keep the register open
and available at all times during business hours for inspection of the Buyer or its legal representatives.

 

(b)          Transfer
Agent Instructions.  If the Buyer effects a sale, assignment or transfer of the Conversion Shares, the Company shall
permit the transfer, in compliance with applicable securities laws, and shall promptly instruct its transfer agent to issue one
or more certificates or credit shares to the applicable balance accounts at DTC in such name and in such denominations as specified
by such Buyer to effect such sale, transfer or assignment.  In the event that such sale, assignment or transfer involves
Conversion Shares sold, assigned or transferred pursuant to an effective registration statement or in compliance with Rule 144,
the transfer agent shall issue such shares to such Buyer, assignee or transferee (as the case may be) without any restrictive legend
in accordance with Section 2(f).  Any fees (with respect to the transfer agent, counsel to the Company or otherwise)
associated with the issuance of such opinion or the removal of any legends on any of the Securities as referred to in Section 2(f)
shall be borne by the Company.

 

6.            CONDITIONS
TO THE COMPANY’S OBLIGATION TO SELL. 

 

The obligation of the Company hereunder to issue
and sell the Notes to the Buyer at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following
conditions, provided that these conditions are for the Company’s sole benefit and may be waived by the Company at
any time in its sole discretion by providing the Buyer with prior written notice thereof:

 

(i)          Such
Buyer shall have executed each of the Transaction Documents to which it is a party and delivered the same to the Company.

 

(ii)         Such
Buyer shall have delivered to the Company the Purchase Price for the Notes being purchased by such Buyer at the Closing by check
or wire transfer of immediately available funds.

 

(iii)        The
representations and warranties of such Buyer shall be true and correct in all material respects as of the date hereof and as of
the Closing Date as though made at that time (except for representations and warranties that speak as of a specific date), and
such Buyer shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by such Buyer at or prior to the Closing Date.

 

7.            CONDITIONS
TO EACH BUYER’S OBLIGATION TO PURCHASE. 

 

The obligation of the Buyer hereunder to purchase
the Notes at the Closing is subject to the satisfaction, at or before the Closing Date, of each of the following conditions,
provided that these conditions are for the Buyer’s sole benefit and may be waived by such Buyer at any time in its
sole discretion by providing the Company with prior written notice thereof:

 

    	 	-10-	 

     

    

 

(i)          The
Company shall have executed and delivered to such Buyer (A) each of the Transaction Documents and (B) the Notes (in such principal
amounts as such Buyer shall request) being purchased by such Buyer at the Closing pursuant to this Agreement.

 

(ii)         The
Company shall have delivered to such Buyer a copy of the Transfer Agent Instructions, substantially in the form attached hereto
as Exhibit D, which instructions shall have been delivered to and acknowledged in writing by the Company’s transfer
agent.

 

(iii)        The
representations and warranties of the Company shall be true and correct in all material respects (except for those representations
and warranties that are qualified by materiality or Material Adverse Effect, which shall be true and correct in all respects) as
of the date when made and as of the Closing Date as though made at that time (except for representations and warranties that speak
as of a specific date) and the Company shall have performed, satisfied and complied in all material respects with the covenants,
agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by the Company at or
prior to the Closing Date.

 

(iv)        The
Common Stock (I) shall be designated for quotation or listed on the Principal Market and (II) shall not have been suspended, as
of the Closing Date, by the SEC or the Principal Market from trading on the Principal Market nor shall suspension by the SEC or
the Principal Market have been threatened, as of the Closing Date.

 

(v)         The
Company shall have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for the sale
of the Securities.

 

8.            TERMINATION.  In
the event that the Closing shall not have occurred with respect to the Buyer on or before ten (10) Business Days from the date
hereof due to the Company’s or such Buyer’s failure to satisfy the conditions set forth in Sections 6 and 7 above
(and the nonbreaching party’s failure to waive such unsatisfied condition(s)), the nonbreaching party shall have the option
to terminate this Agreement at the close of business on such date without liability of any party to any other party. 

 

9.            MISCELLANEOUS. 

 

(a)          Governing
Law; Jurisdiction; Jury Trial.  All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of New York, without giving effect to any choice of law or
conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of New York.  Each party hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any
dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper.  Each party hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to
it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.  Nothing
contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.  EACH
PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b)          Counterparts.  This
Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party; provided that
a facsimile signature shall be considered due execution and shall be binding upon the signatory thereto with the same force and
effect as if the signature were an original, not a facsimile signature.

 

    	 	-11-	 

     

    

 

(c)          Headings.  The
headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation of, this Agreement.

 

(d)          Severability.  If
any provision of this Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall
not affect the validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity or enforceability
of any provision of this Agreement in any other jurisdiction.

 

(e)          Entire
Agreement; Amendments.  This Agreement and the other Transaction Documents supersede all other prior oral or written
agreements between the Buyer, the Company, their affiliates and Persons acting on their behalf with respect to the matters discussed
herein, and this Agreement, the other Transaction Documents and the instruments referenced herein and therein contain the entire
understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein
or therein, neither the Company nor the Buyer makes any representation, warranty, covenant or undertaking with respect to such
matters.  In no event shall any amendment, modification or waiver be made to this Agreement which would adversely affect
the economic terms of the holders of the Company Notes, including but not limited to any change in the Conversion Price, Maturity
Date, Collateral, interest rate or schedule of payment, redemptions or conversion, or any sale or change in the holders priority
in the Collateral subject to a security interest, without the prior written consent of each holder of the Company Notes.  No
provision of this Agreement may be amended other than by an instrument in writing signed by the Company and the Required Holders
(as defined in the Note), and any amendment to this Agreement made in conformity with the provisions of this Section 9(e) shall
be binding on the Buyer and holders of Securities, as applicable.  No provision hereof may be waived other than by an
instrument in writing signed by the party against whom enforcement is sought.  No such amendment shall be effective to
the extent that it applies to less than all of the holders of the applicable Securities then outstanding.  No consideration
shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of the Transaction
Documents unless the same consideration also is offered to all of the parties to the Transaction Documents or holders of Notes.  The
Company has not, directly or indirectly, made any agreements with the Buyer relating to the terms or conditions of the transactions
contemplated by the Transaction Documents except as set forth in the Transaction Documents.  Without limiting the foregoing,
the Company confirms that, except as set forth in this Agreement, the Buyer has not made any commitment or promise or has no other
obligation to provide any financing to the Company or otherwise.

 

(f)          Expenses.
Whether or not the transaction contemplated in this Agreement is consummated or this Agreement is terminated, the Company agrees
to pay or cause to be paid the reasonable and documented out-of-pocket legal fees and expenses of counsel for the Buyer in an aggregate
amount not to exceed $25,000.

 

(g)          Notices.  Any
notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be
in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent
by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); or (iii) one Business Day after deposit with an overnight courier service, in each case properly addressed to the party
to receive the same.  The addresses and facsimile numbers for such communications shall be:

 

	 	If to the Company:
	 	 	 
	 	 	Applied DNA Sciences, Inc.
	 	 	50 Health Sciences Drive
	 	 	Stony Brook, New York 11790
	 	 	Telephone: (631) 240-8800
	 	 	Attention: Chief Financial Officer
	 	 	 	 
	 	With copies to:
	 	 	 
	 	 	Pepper Hamilton LLP
	 	 	620 Eighth Street, Floor 37
	 	 	New York, NY 10018
	 	 	Telephone: 212-808-2724
	 	 	Attention: Merrill Kraines, Esq.

 

    	 	-12-	 

     

    

 

	 	If to the Transfer Agent:
	 	 	 
	 	 	American Stock Transfer and Trust Company
	 	 	6201 15th Ave.
	 	 	Brooklyn, New York 11219
	 	 	Telephone: (718) 921-8210
	 	 	Facsimile: (718) 921-8355
	 	 	Attention: Vito Cirone
	 	 	 
	 	If to the Collateral Agent:
	 	 	Delaware Trust Company 
	 	 	251 Little Falls Drive
	 	 	Wilmington, DE 19808
	 	 	Telephone: (866) 403-5272
	 	 	Facsimile: (302) 636-5454
	 	 	Attention: Benjamin Hancock

 

If to the Buyer, to its address and facsimile number set forth on
the Schedule of Buyers, with copies to such Buyer’s representatives as set forth on the Schedule of Buyers, or to such other
address and/or facsimile number and/or to the attention of such other Person as the recipient party has specified by written notice
given to each other party five (5) days prior to the effectiveness of such change.  Written confirmation of receipt (A)
given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically generated by
the sender’s facsimile machine containing the time, date, recipient facsimile number and an image of the first page of such
transmission or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt by facsimile
or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(h)          Successors
and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and assigns, including any purchasers of the Notes.  The Company shall not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Required Holders, including by way of a Fundamental Transaction (unless the
Company is in compliance with the applicable provisions governing Fundamental Transactions set forth in the Notes).  A
Buyer may assign some or all of its rights hereunder without the consent of, but upon prompt written notice to, the Company, in
which event such assignee shall be deemed to be a Buyer hereunder with respect to such assigned rights.

 

(i)          No
Third Party Beneficiaries.  This Agreement is intended for the benefit of the parties hereto and their respective
permitted successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(j)          Reliance
by the Collateral Agent.  The parties agree and acknowledge that the Collateral Agent may rely on the representations,
warranties, agreements and covenants of the Company contained in this Agreement and may rely on the representations and warranties
to the Buyer set forth in this Agreement as if such representations, warranties, agreements and covenants, as applicable, were
made directly to the Collateral Agent.  In addition, no representation, warranty or covenant, express or implied, is
or will be made by the Collateral Agent with respect to the Company or the transactions contemplated by this Agreement; and no
responsibility of any kind exists with the Collateral Agent with respect to the completeness or accuracy of, or any other matter
concerning, any other information made or provided by the Company or its representatives to the Buyer (as to diligence matters
or otherwise) or with respect to any statements made regarding any such information by the Company, its representatives or the
Collateral Agent to the Buyer.

 

(k)          Survival.  Unless
this Agreement is terminated under Section 8, the representations and warranties of the Company and the Buyer contained in Sections
2 and 3 and the agreements and covenants set forth in Sections 4, 5 and 9 shall survive the Closing for a period of one (1) year
from the date hereof.  The Buyer shall be responsible only for its own representations, warranties, agreements and covenants
hereunder.

 

    	 	-13-	 

     

    

 

(l)          Further
Assurances.  Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

(m)          No
Strict Construction.  The language used in this Agreement will be deemed to be the language chosen by the parties
to express their mutual intent, and no rules of strict construction will be applied against any party.

 

(n)          Remedies.  The
Buyer and each holder of the Securities shall have all rights and remedies set forth in the Transaction Documents and all rights
and remedies which such holders have been granted at any time under any other agreement or contract and all of the rights which
such holders have under any law.  Any Person having any rights under any provision of this Agreement shall be entitled
to enforce such rights specifically (without posting a bond or other security), to recover damages by reason of any breach of any
provision of this Agreement and to exercise all other rights granted by law.  Furthermore, the Company recognizes that
in the event that it fails to perform, observe, or discharge any or all of its obligations under the Transaction Documents, any
remedy at law may prove to be inadequate relief to the Buyer.  The Company therefore agrees that the Buyer shall be entitled
to seek temporary and permanent injunctive relief in any such case without the necessity of proving actual damages and without
posting a bond or other security.

 

(o)          Rescission
and Withdrawal Right.  Notwithstanding anything to the contrary contained in (and without limiting any similar provisions
of) the Transaction Documents, whenever the Buyer exercises a right, election, demand or option under a Transaction Document and
the Company does not timely perform its related obligations within the periods therein provided, then such Buyer may rescind or
withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election
in whole or in part without prejudice to its future actions and rights.

 

(p)          Payment
Set Aside.  To the extent that the Company makes a payment or payments to the Buyer hereunder or pursuant to any
of the other Transaction Documents or the Buyer enforces or exercise their rights hereunder or thereunder, and such payment or
payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent
or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company,
a trustee, receiver or any other Person under any law (including, without limitation, any bankruptcy law, foreign, state or federal
law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement
or setoff had not occurred.

 

[Signature Page Follows]

 

    	 	-14-	 

     

    

 

IN WITNESS WHEREOF, each Buyer and the
Company have caused their respective signature page to this Securities Purchase Agreement to be duly executed as of the date first
written above.

 

	 	COMPANY:	 
	 	 	 
	 	APPLIED DNA SCIENCES, INC.	 
	 	 	 
	 	By:	/s/ James A. Hayward	 
	 	 	Name: James A. Hayward	 
	 	 	Title: Chief Executive Officer	 

 

[Signature Page to Securities Purchase Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, each Buyer and the
Company have caused their respective signature page to this Securities Purchase Agreement to be duly executed as of the date first
written above.

 

Attestation of Receipt of Documents

 

Each Buyer hereby attests to receipt and review of the following
documents:

 

		1)	Purchase Agreement (including all exhibits and schedules)

 

		2)	Registration Rights Agreement

 

		3)	Security Agreement

 

		4)	Form of Note

 

	 	
        BUYER:

         
	 
	 	DILLION HILL CAPITAL, LLC	 
	 	 	 	 
	 	By:	/s/ Bruce Grossman 	 
	 	 	Name: Bruce Grossman	 
	 	 	Title: Chief Executive Officer	 

 

[Signature Page to Securities Purchase Agreement]

 

     

     

    

 

SCHEDULE OF
BUYERS

 

	(1)	 	(2)	 	(3)	 	(4)	 	(5)
	Buyer	 	
        Address and

        Facsimile Number
	 	
        Aggregate

        Principal

        Amount of

        Notes
	 	
        Purchase 

        Price
	 	Legal Representative’s Address and

Facsimile Number
	
        Dillon Hill Capital, LLC 

         
	 	
        200 Business Park Drive 

        Suite 306

        Armonk, NY 10504

        (914) 219-5721
	 	$1,500,000	 	$1,500,000	 	
        Robert Charron

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas

        New York, NY  10105

        (212) 401-4741

 

     

     

    

 

EXHIBITS

 

	 	 
	Exhibit A	Form of Notes
	Exhibit B	Registration Rights Agreement
	Exhibit C	Form of Security Agreement of the Company
	Exhibit D	Transfer Agent Instructions

 

     

     

    

 

Exhibit A

 

Form of Notes

 

    	 	Exhibit A-1	 

     

    

 

Exhibit B

 

Registration Rights Agreement

 

    	 	Exhibit B-1	 

     

    

 

Exhibit C

 

Form of Security Agreement of the Company

 

    	 	Exhibit C-1	 

     

    

 

Exhibit D

 

TRANSFER AGENT
INSTRUCTIONS

APPLIED DNA SCIENCES, INC.

 

July [•], 2019

 

American Stock Transfer and Trust Company, LLC

Operations Center

6201 15th Avenue, Third Floor

Brooklyn, NY 11219

Attention: [●]

 

Ladies and Gentlemen:

 

Reference is made to that certain Securities
Purchase Agreement, dated as of July 16, 2019 (the “Agreement”), by and among Applied DNA Sciences, Inc., a
Delaware corporation (the “Company”), and the investors listed on the Schedule of Buyers attached thereto (collectively,
the “Buyers”), pursuant to which the Company is issuing to the Buyers secured convertible notes of the Company
(the “Notes”), which will be convertible into shares of the Company’s common stock, $0.001 par value per
share (the “Common Stock”).  The shares of Common Stock to be converted thereunder are referred to
herein as the “Conversion Shares.”

 

This letter shall serve as our authorization
and direction to you (provided that you are the transfer agent of the Company at such time) to issue the Conversion
Shares to or upon the order of a Buyer from time to time upon delivery to you of a properly completed and duly executed Conversion
Notice, in the form attached hereto as Exhibit I, which has been acknowledged by the Company as indicated by the signature
of a duly authorized officer of the Company thereon.

 

Specifically, upon receipt by the Company of
a copy of a Conversion Notice, the Company shall as soon as practicable, but in no event later than two (2) Business Days (as defined
below) after receipt of such Conversion Notice, deliver a Conversion Notice, which shall constitute an irrevocable instruction
to you to process such Conversion Notice in accordance with the terms of these instructions.  Upon your receipt of a
copy of the executed Conversion Notice, you shall use your best efforts to, (A) provided you are participating in the DTC Fast
Automated Securities Transfer Program, credit the aggregate number of shares of Common Stock to which Buyer shall be entitled to
Buyer’s or its designee’s balance account with DTC through its Deposit/Withdrawal at Custodian system or (B) issue
and deliver (via reputable overnight courier) to Buyer, a certificate representing such Securities that is free from all restrictive
and other legends, registered in the name of Buyer or its designee (the date by which such credit is so required to be made to
the balance account of Buyer’s or Buyer’s nominee with DTC or such certificate is required to be delivered to Buyer
pursuant to the foregoing is referred to herein as the “Required Delivery Date”).

 

You acknowledge and agree that so long as you
have previously received (a) written confirmation from the outside legal counsel of the Company that either (i) a registration
statement covering resales of the Conversion Shares has been declared effective by the Securities and Exchange Commission (the
 “SEC”) under the Securities Act of 1933, as amended (the “1933 Act”), or (ii) that sales
of the Conversion Shares may be made in conformity with Rule 144 under the 1933 Act, and (b) if applicable, a copy of such registration
statement, then, as soon as practicable after your receipt of a notice of transfer or Conversion Notice, you shall issue the certificates
representing the Conversion Shares and such certificates shall not bear any legend restricting transfer of the Conversion Shares
thereby and should not be subject to any stop-transfer restriction; provided, however, that if such Conversion Shares
are not registered for resale under the 1933 Act or able to be sold under Rule 144, then the certificates for such Conversion Shares
shall bear the following legend:

 

    	 	Exhibit D-1	 

     

    

 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT
BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS.  THE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM
REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD
PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT.  NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

A form of written confirmation from the Company’s
outside legal counsel that a registration statement covering resales of the Conversion Shares has been declared effective by the
SEC under the 1933 Act is attached hereto as Exhibit II.

 

Please execute this letter in the space indicated
to acknowledge your agreement to act in accordance with these instructions.  Should you have any questions concerning
this matter, please contact me at (631) 240-8800.

 

	 	Very truly yours,	 
	 	 	 	 
	 	APPLIED DNA SCIENCES, INC.	 
	 	 	 	 
	 	By:	 	 
	 	 	Name: Beth Jantzen	 
	 	 	Title: Chief Financial Officer	 

 

    	 	Exhibit D-2	 

     

    

 

THE FOREGOING INSTRUCTIONS ARE

ACKNOWLEDGED AND AGREED TO

this [•] day of July, 2019

AMERICAN STOCK TRANSFER AND TRUST COMPANY,
LLC

 

	By:	 	 
	 	Name:	 	 
	 	Title:	 	 
	 	 

Enclosures

 

    	 	Exhibit D-3	 

     

    

 

EXHIBIT I

 

APPLIED DNA
SCIENCES, INC.

CONVERSION NOTICE

 

Reference is made to the Secured Convertible Note (the “Note”)
issued to the undersigned by Applied DNA Sciences, Inc. (the “Company”). In accordance with and pursuant to
the Note, the undersigned hereby elects to convert the Conversion Amount (as defined in the Note) of the Note indicated below into
Conversion Shares (as defined in the Note) of the Company, as of the date specified below.

 

	 	Date of Conversion:	 

 

	 	Aggregate Conversion Amount to be converted:	 

 

Please confirm the following information:

 

	 	Conversion Price:	 

 

	 	Number of shares of Common Stock to be issued:	 

 

Please issue the Common Stock into which the
Conversion Amount of the Note is being converted in the following name and to the following address:

 

	 	Issue to:	 
	 	 
	 	 	 
	 	 
	 	 	 
	 	 

 

	 	Facsimile Number:	 

 

	 	Authorization:	 

 

	 	By:	 
	 	 	 
	 	Title:	 

 

	 	Dated:	 

 

	 	Account Number:	 
	 	(if electronic book entry transfer)

 

	 	Transaction Code Number:	 
	 	(if electronic book entry transfer)

 

    	 	Exhibit I-1	 

     

    

 

ACKNOWLEDGMENT

 

The Company hereby acknowledges this Conversion
Notice and hereby directs American Stock Transfer and Trust Company, LLC to issue the above indicated number of shares of Common
Stock in accordance with the Transfer Agent Instructions dated July [•], 2019 from the Company and acknowledged and agreed
to by American Stock Transfer and Trust Company, LLC.

 

	 	APPLIED DNA SCIENCES, INC	 
	 	 	 	 
	 	By:	 	 
	 	 	Name:	 
	 	 	Title:	 

 

     

     

    

 

EXHIBIT II

 

FORM OF NOTICE
OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

American Stock Transfer and Trust Company, LLC

Operations Center

6201 15th Avenue, Third Floor

Brooklyn, NY 11219

Telephone: (718) 921-8210

Attention: [●]

 

Re: Applied DNA Sciences, Inc.

 

Ladies and Gentlemen:

 

We are counsel to Applied DNA Sciences, Inc.,
a Delaware corporation (the “Company”), and have represented the Company in connection with that certain Securities
Purchase Agreement, dated as of July 16, 2019 (the “Securities Purchase Agreement”), entered into by and among
the Company and the buyers named therein (collectively, the “Holders”) pursuant to which the Company issued
to the Holders secured convertible notes (the “Notes”) which are convertible into the Company’s common
stock, $0.001 par value per share (the “Common Stock”). Pursuant to the Securities Purchase Agreement, the Company
also has entered into a Registration Rights Agreement with the Holders (the “Registration Rights Agreement”)
pursuant to which the Company agreed, among other things, to register the resale of the Registrable Securities (as defined in the
Registration Rights Agreement), including the shares of Common Stock issuable upon conversion of the Notes under the Securities
Act of 1933, as amended (the “1933 Act”). In connection with the Company’s obligations under the Registration
Rights Agreement, on _______, 201_, the Company filed a Registration Statement on Form S-1 (File No. 333-_____________) (the “Registration
Statement”) with the Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities
which names each of the Holders as a selling shareholder thereunder.

 

In connection with the foregoing, we advise you
that the SEC has entered an order declaring the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS]
on [ENTER DATE OF EFFECTIVENESS] and we have no knowledge, based upon our review of the list of current stop orders available
on the SEC’s website, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose
are pending before, or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act pursuant
to the Registration Statement.

 

    	 	Exhibit II-1	 

     

    

 

This letter shall serve as our standing instruction
to you that the shares of Common Stock are freely transferable by the Holders pursuant to the Registration Statement. You need
not require further letters from us to effect any future legend-free issuance or reissuance of shares of Common Stock to the Holders
as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated July [•], 2019, provided at the time
of such reissuance, the Company has not otherwise notified you that the Registration Statement is unavailable for the resale of
the Registrable Securities.

 

	 	Very truly yours,	 
	 	 	 	 
	 	[ISSUER’S COUNSEL]	 
	 	 	 	 
	 	By:	 	 
	cc: [LIST NAMES OF BUYERS]	 	 	 

 

    	 	Exhibit II-2EXHIBIT 10.4 

Execution Version

AMENDMENT TO SECURED
CONVERTIBLE NOTES

 

THIS AMENDMENT TO SECURED
CONVERTIBLE NOTES (this “Amendment”) is made as of July 16, 2019, by and among Applied DNA Sciences, Inc., a
Delaware corporation (the “Company”) and the undersigned noteholders (the
 “Required Holders”).

 

RECITALS

 

WHEREAS, the Required
Holders constitute the holders of at least a majority of the aggregate principal amount of the Notes outstanding and issued pursuant
to those certain Securities Purchase Agreements dated as of August 31, 2018 and November 29, 2018, each by and among the Company
and the purchasers of the Notes thereto (each a “Holder” and collectively, the “Holders”);

 

WHEREAS, the Company
previously issued to each of the Holders a secured convertible note in the principal amounts set forth on Exhibit A hereto
(the “Notes”);

 

WHEREAS, pursuant
to Section 15 of the Notes, the Notes may be amended with the written consent of the Company and the Required Holders; and

 

WHEREAS, in accordance
with Section 15 of the Notes, the Company and the Requisite Holders desire to amend the Notes to adjust the conversion price in
connection with conversion of the Notes, amend the maturity date of the Notes, amend the Events of Default, amend certain definitions
of the Notes and amend other terms of the Notes as set forth herein on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to
be legally bound hereby, agree as follows:

 

AGREEMENT

 

1.             Definitions.
Capitalized terms used herein without definition shall have the meanings given to such terms in the Notes.

 

2.             Amendments
and Waiver.

 

a.          The
second sentence of Section 1 of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

The “Maturity
Date” shall be November 28, 2021.

 

b.          The
text of Section 3(b)(ii) of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

    			 

     

    

 

“Conversion Price”
means $0.54.

 

c.           Section
3(c)(i) of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

(i) Optional Conversion. To
convert any Conversion Amount into Conversion Shares on any date (a “Conversion Date”), the Holder shall (A)
transmit by facsimile or email (by attachment in PDF format) (or otherwise deliver), for receipt on or prior to 11:59 p.m., New
York Time, on such date, a copy of an executed notice of conversion in the form attached hereto as Exhibit I (the “Conversion
Notice”) to the Company and (B) if required by Section 3(c)(ii), surrender this Note to a common carrier for delivery
to the Company as soon as practicable on or following such date (or an indemnification undertaking with respect to this Note in
the case of its loss, theft or destruction). On or before the first Business Day following the date of receipt of a Conversion
Notice, the Company shall transmit by facsimile or email (by attachment in PDF format) a confirmation (the “Conversion
Confirmation”) of receipt of such Conversion Notice to the Holder and the Company’s Transfer Agent. Any Conversion
Confirmation delivered by the Company shall confirm the Conversion Amount. On or before the second Business Day following the date
of receipt of a Conversion Notice, the Company shall, provided that the Transfer Agent is participating in the DTC Fast Automated
Securities Transfer Program, credit such aggregate number of Conversion Shares to which the Holder shall be entitled to the Holder’s
or its designee’s balance account with DTC through its Deposit/Withdrawal as Custodian system. If the Transfer Agent is not
participating in the DTC Fast Automated Securities Transfer Program or if a Holder otherwise requests, the Company shall issue
and deliver (via reputable overnight courier) to the address as specified in the Conversion Notice, a certificate, registered in
the name of the Holder or its designee, for the number of Conversion Shares to which the Holder shall be entitled. If this Note
is physically surrendered for conversion as required by Section 3(c)(ii) and the outstanding Principal of this Note is greater
than the Principal portion of the Conversion Amount being converted, then the Company shall as soon as practicable and in no event
later than five Business Days after receipt of this Note and at its own expense, issue and deliver to the holder a new Note (in
accordance with Section 17(d)) representing the outstanding Principal not converted. The Person or Persons entitled to receive
the Conversion Shares issuable upon a conversion of this Note shall be treated for all purposes as the record holder or holders
of such Conversion Shares on the Conversion Date. In the event the Company does not comply with the provisions set forth in this
Section 3(c)(i), the Holder may rescind the Conversion Notice in writing by facsimile or email to the Company.”

 

    	 	-2-	 

     

    

 

d.          Section
3 of each of the Notes is hereby amended by adding the following clause (d):

 

“(d) Holder’s Conversion
Limitations. The Company shall not effect any conversion of this Note, and a Holder shall not have the right to convert any
portion of this Note, to the extent that after giving effect to the conversion set forth on the applicable Conversion Notice, the
Holder (together with the Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of
the Holder’s Affiliates (such Persons, “Attribution Parties”)) would beneficially own in excess of the
Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock
beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock
issuable upon conversion of this Note with respect to which such determination is being made, but shall exclude the number of shares
of Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of this Note beneficially
owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or unconverted
portion of any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained
herein (including, without limitation, any other Notes or the Warrants) beneficially owned by the Holder or any of its Affiliates
or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 3(d), beneficial ownership
shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
To the extent that the limitation contained in this Section 3(d) applies, the determination of whether this Note is convertible
(in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which principal
amount of this Note is convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion
shall be deemed to be the Holder’s determination of whether this Note may be converted (in relation to other securities owned
by the Holder together with any Affiliates or Attribution Parties) and which principal amount of this Note is convertible, in each
case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to represent
to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set
forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition,
a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange
Act and the rules and regulations promulgated thereunder. For purposes of this Section 3(d), in determining the number of outstanding
shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of
the following: (i) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (ii)
a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company’s transfer
agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company
shall within one Trading Day confirm orally and in writing 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 Note, by the Holder or its Affiliates since the date as of which such number of outstanding
shares of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 9.99% of the number of shares
of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon conversion
of this Note held by the Holder. The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 3(d) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Note. The Holder of this Note shall have the option to opt-out of this Section 3(d) by providing
notice in writing to the Company that Section 3(d) of this Note shall not apply to such Holder, which election by such Holder will
be effective as of the date of this Amendment.”

 

    	 	-3-	 

     

    

 

e.          Section
4 of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

“(a)         Event
of Default. Each of the following events shall constitute an “Event of Default:”

 

(i) the suspension from trading
or failure of the Common Stock to be listed on an Eligible Market for a period of five consecutive Trading Days or for more than
an aggregate of ten Trading Days in any 365-day period;

 

    	 	-4-	 

     

    

 

(ii) the Company’s
failure to pay to the Holder any amount of Principal, Interest, or other amounts when and as due under this Note or any other agreement,
document, certificate or other instrument delivered in connection with the transactions contemplated hereby and thereby to which
the Holder is a party, except, in the case of a failure to pay Interest and other amounts when and as due, in which case only if
such failure continues for a period of at least three Business Days after receipt of a demand for payment by Holder;

 

(iii) the Company or any
of its Subsidiaries, pursuant to or within the meaning of Title 11, U.S. Code, or any similar Federal, foreign or state law for
the relief of debtors (collectively, “Bankruptcy Law”), (A) commences a voluntary case, (B) consents to the
entry of an order for relief against it in an involuntary case, (C) consents to the appointment of a receiver, trustee, assignee,
liquidator or similar official (a “Custodian”), (D) makes a general assignment for the benefit of its creditors
or (E) admits in writing that it is generally unable to pay its debts as they become due;

 

(iv) any proceeding is instituted
against the Company or any of its Subsidiaries in an involuntary case, or a court of competent jurisdiction enters an order or
decree under any Bankruptcy Law that (A) appoints a Custodian of the Company or any of its Subsidiaries for all or substantially
all of its property or (B) orders the liquidation of the Company or any of its Subsidiaries and, in each case, such order or decree
is not dismissed or stayed within thirty days of such entry;

 

(v) the Company shall fail
to perform or observe any covenant, agreement or other obligation contained in any Transaction Document on its part to be performed
or observed and such failure shall remain unremedied for a period of ten Business Days after receipt by the Company of a notice
of such failure by Holder; provided, however, that if the default cannot by its nature be cured within such ten Business
Day period or cannot after diligent attempts by the Company be cured within such ten Business Day period, and such default is likely
to be cured within a reasonable time, then the Company shall have an additional period (which shall not in any case exceed thirty
(30) days) to attempt to cure such default, and within such reasonable time period the failure to cure the default shall not be
deemed an Event of Default;

 

(vi) the Security Agreement
(as defined in the Securities Purchase Agreement) shall, for any reason, after the perfection date specified in the Securities
Purchase Agreement, cease to create a valid, enforceable and perfected first priority security interest and Lien in any of the
Collateral (as defined in the Security Agreement) purported to be covered thereby (unless solely attributable to Holder’s
failure (through no fault of the Company) to take any action required to be taken by Holder in order to perfect such security interest),
or the Company shall so state in writing, or the Company shall in any way challenge, or shall bring any proceeding which shall
in any way challenge, the prior valid, enforceable or perfected status of such security interest or Lien or the validity or enforceability
thereof.

 

    	 	-5-	 

     

    

 

(b)          Remedies.
Upon the occurrence of an Event of Default, the Company shall within five Business Days deliver written notice thereof via facsimile
or email and overnight courier (an “Event of Default Notice”) to the Holder. At any time after the earlier of
the Holder’s receipt of an Event of Default Notice and the Holder becoming aware of an Event of Default, the Holder (by an
affirmative vote of the holders of this Note and the Other Notes representing at least 30% of the aggregate principal amount of
the Company’s Notes and the Other Notes then outstanding) may require the Company to redeem all or any portion of this Note
by delivering written notice thereof (the “Event of Default Redemption Notice”) to the Company, which Event
of Default Redemption Notice shall indicate the portion of this Note the Holder is electing to redeem and, in the case the Holder
has not received an Event of Default Notice, the Event of Default of which the Holder has become aware. Each portion of this Note
subject to redemption by the Company pursuant to this Section 4(b) shall be redeemed by the Company at the Event of Default Redemption
Price. The “Event of Default Redemption Price” means the sum of (a) the greater of (i) the outstanding Principal
of this Note, plus all accrued and unpaid Interest hereon, divided by the Conversion Price on the date the Event of Default Redemption
Price is either (A) demanded (if demand or notice is required to create an Event of Default) or otherwise due or (B) paid in full,
whichever has a lower Conversion Price, multiplied by the volume-weighted average price (VWAP) on the date the Event of Default
Redemption Price is either (x) demanded or otherwise due or (y) paid in full, whichever has a higher VWAP, or (ii) 130% of the
outstanding Principal of this Note, plus 100% of accrued and unpaid Interest hereon, and (b) all other amounts, costs, expenses
and liquidated damages due in respect of this Note. Redemptions required by this Section 4(b) shall be made in accordance with
the provisions of Section 12. To the extent redemptions required by this Section 4(b) are deemed or determined by a court of competent
jurisdiction to be prepayments of the Note by the Company, such redemptions shall be deemed to be voluntary prepayments. The parties
hereto agree that in the event of the Company’s redemption of any portion of the Note under this Section 4(b), the Holder’s
damages would be uncertain and difficult to estimate because of the parties’ inability to predict future interest rates and
the uncertainty of the availability of a suitable substitute investment opportunity for the Holder.”

 

f.           Section
8(a) of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

“(a) Mandatory Conversion. If the price of the Company’s
Common Stock shall remain at a closing price of $3.50 or more for a period of twenty consecutive Trading Days, the Company shall
have the right to require the Holder to convert all, or any part, of the Conversion Amount of this Note into fully paid, validly
issued and nonassessable shares of Common Stock in accordance with Section 3(c) hereof at the Conversion Rate with respect to the
Conversion Amount (the “Mandatory Conversion”). The Company may only effect the Mandatory Conversion if each
of the Equity Conditions shall have been met (unless waived in writing by the Holder) and subject to the Holder’s Conversion
Limitations set forth above in Section 3(d), if applicable. “Equity Conditions” means, during the period in
question, (a) the Company shall have duly honored all conversions scheduled to occur or occurring by virtue of one or more Conversion
Notices of the Holder, if any, (b)(i) there is an effective Registration Statement pursuant to which the Holder is permitted to
utilize the prospectus thereunder to resell all of the shares of Common Stock issuable pursuant to the Note (and the Company believes,
in good faith, that such effectiveness will continue uninterrupted for the foreseeable future) or (ii) all of the Conversion Shares
issuable pursuant to the Note may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions or current public
information requirements as determined by the counsel to the Company as set forth in a written opinion letter to such effect, addressed
and acceptable to the Transfer Agent and the Holder, (c) the Common Stock is trading on an Eligible Market and all of the shares
issuable pursuant to the Note are listed or quoted for trading on such Eligible Market (and the Company believes, in good faith,
that trading of the Common Stock on a Eligible Market will continue uninterrupted for the foreseeable future), (d) there is a sufficient
number of authorized but unissued and otherwise unreserved shares of Common Stock for the issuance of all of the shares then issuable
pursuant to the Note, (e) there is no existing Event of Default and no existing event which, with the passage of time or the giving
of notice, would constitute an Event of Default and (f) the issuance of the shares in question to the Holder would not violate
the limitations set forth in Section 3(d) herein. The mechanics of conversion set forth in Section 3(c) shall apply to any Mandatory
Conversion as if the Company and the Transfer Agent had received from the Holder on the Mandatory Conversion Date a Conversion
Notice with respect to the Conversion Amount being converted pursuant to the Mandatory Conversion. If the Holder is in possession
of any material non-public information at the time the Company exercises its right of Mandatory Conversion, the Company shall publicly
disclose such material non-public information regarding the exercise of its right of Mandatory Conversion within one Trading Day
of such exercise by the Company.”

 

    	 	-6-	 

     

    

 

g.          Section
14 of each of the Notes is hereby amended by adding the following clause (d):

 

“(d)         Negative
Covenants. As long as any portion of this Note remains outstanding, the Company shall not, and shall not permit any Subsidiaries
to, directly or indirectly:

 

(i)       other
than Permitted Indebtedness, enter into, create, incur, assume, guarantee or suffer to exist any Debt, on or with respect to any
of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

 

(ii)       other
than Permitted Liens, enter into, create, incur, assume or suffer to exist any Liens of any kind, on or with respect to any of
its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;

 

(iii)      repay,
repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis number of shares of its Common Stock
or Common Stock equivalents other than as to (i) the Conversion Shares or Options as permitted or required herein or in the transaction
documents, (ii) repurchases of Common Stock or Common Stock equivalents of departing officers and directors of the Company, provided
that such repurchases shall not exceed an aggregate of $100,000 for all officers and directors during the term of this Note, and
(iii) other Permitted Investments;

 

(iv)      repay,
repurchase or offer to repay, repurchase or otherwise acquire any Debt, other than the Notes if on a pro-rata basis, other than
regularly scheduled principal and interest payments as such terms are in effect as of the date of this Amendment, provided that
such payments shall not be permitted if, at such time, or after giving effect to such payment, any Event of Default exists or occurs;

 

(v)      pay
cash dividends or distributions on any equity securities of the Company; or

 

(vi)     enter
into any agreement with respect to any of the foregoing;

 

    	 	-7-	 

     

    

 

other than, in each case, as consented to by
the Required Holders.”

 

h.              Section
15 of each of the Notes is hereby deleted in its entirety and replaced with the following:

 

“15. VOTE TO ISSUE,
OR CHANGE THE TERMS OF, NOTES. The affirmative vote of the Required Holders at a meeting duly called for such purpose or the
written consent without a meeting shall be required for any change or amendment to this Note or the Other Notes. In no event shall
any amendment, modification or waiver be made to this Note which would adversely affect the economic terms of the Holder including
but not limited to any change in the Conversion Price, Maturity Date, Collateral, interest rate or schedule of payment, redemptions
or conversion, or any sale or change in the holders priority in the Collateral subject to a security interest, without the prior
written consent of such Holder.”

 

i.               The
definition of “Eligible Market” in Section 26 of each of the Notes is hereby deleted in its entirety and replaced
with the following:

 

“Eligible Market”
means the Principal Market, The New York Stock Exchange, Inc., the NYSE Amex, The Nasdaq Global Select Market, The Nasdaq Global
Market, The Nasdaq Capital Market, any OTC Markets Group Inc. over-the-counter market or any market that is a successor to any
of the foregoing.”

 

j.               The
definition of “Required Holders” in Section 26 of each of the Notes is hereby deleted in its entirety and replaced
with the following:

 

“Required Holders”
means, collectively, the holders of this Note and the Other Notes representing at least 70% of the aggregate principal amount of
the Company’s Notes then outstanding.”

 

k.              The
definition of “Securities Purchase Agreement” in Section 26 of each of the Notes is hereby deleted in its entirety
and replaced with the following:

 

“Securities Purchase Agreement”
means, as applicable, either (i) that certain securities purchase agreement dated as of the Subscription Date by and among the
Company and the initial holders of the Notes pursuant to which the Company issued this Note or (ii) those certain securities purchase
agreements each by and among the Company and the purchasers of the Other Notes.”

 

l.               Section
26 of each of the Notes is hereby amended by adding the following definitions in the appropriate alphabetical order:

 

    	 	-8-	 

     

    

 

““Capital Lease”
as applied to any Person shall mean any lease (or similar arrangement) of any property (whether real, personal or mixed) by that
Person as lessee which, in conformity with GAAP, is accounted for as a capital lease on the balance sheet of that Person.”

 

““Capital Lease Obligations”
shall mean all monetary obligations of any of Company and its Subsidiaries under any Capital Leases.”

 

““Debt” of
any Person shall mean, without duplication:

 

(i)             all
indebtedness for borrowed money;

 

(ii)            all
obligations issued, undertaken or assumed as the deferred purchase price of property or services, including earnouts (other than
trade payables entered into in the ordinary course of business);

 

(iii)           the
face amount of all letters of credit issued for the account of such Person and without duplication, all drafts drawn thereunder
and all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments issued
by such Person;

 

(iv)            all
obligations evidenced by notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection
with the acquisition of property, assets or businesses;

 

(v)             all
indebtedness created or arising under any conditional sale or other title retention agreement, or incurred as financing, in either
case with respect to property acquired by the Person (even though the rights and remedies of the seller or bank under such agreement
in the event of default are limited to repossession or sale of such property);

 

(vi)           all
Capital Lease Obligations;

 

(vii)           the
principal balance outstanding under any synthetic lease, off-balance sheet loan or similar off balance sheet financing product;

 

(viii)         all
indebtedness referred to in clauses (i) through (vii) above secured by (or for which the holder of such indebtedness has an existing
right, contingent or otherwise, to be secured by) any Lien upon or in property (including accounts and contracts rights) owned
by such Person, even though such Person has not assumed or become liable for the payment of such indebtedness; and

 

(i)             all
guarantees in respect of indebtedness or obligations of others of the kinds referred to in clauses (i) through (viii) above.”

 

    	 	-9-	 

     

    

 

““Investment”
of any Person shall mean any investment made by such Person in any other Person by stock purchase, capital contribution, loan,
advance, acquisition of indebtedness, guarantee or otherwise.”

 

““Lien” shall
mean any mortgage, deed of trust, pledge, hypothecation, assignment, charge or deposit arrangement, encumbrance, lien (statutory
or otherwise), or preference, priority or other security interest or preferential arrangement of any kind or nature whatsoever,
chattel mortgage or other charge or encumbrance of any kind, including, without limitation, the lien or retained security title
of a conditional vendor and any easement, right of way or other encumbrance on title to real property and any lease having substantially
the same effect as any of the foregoing.”

 

““Permitted Indebtedness”
shall mean

 

(i)              Debt
evidenced by the Notes and Other Notes;

 

(ii)             Debt
outstanding on the date of this Amendment and as set forth on Schedule I hereto;

 

(iii)            Debt
secured by the Security Documents;

 

(iv)            all
Capital Lease Obligations;

 

(v)            Debt
consisting of unsecured intercompany loans and advances made by the Company and any Subsidiary to any other such Person;

 

(vi)           other
unsecured Debt not exceeding $500,000 in the aggregate at any time outstanding, provided that both at the time of and immediately
after giving effect to the incurrence thereof and the retirement of any Debt which is currently being retired, no Event of Default
exists or occurs;

 

(vii)           Debt
of a target existing at the time the target becomes a Subsidiary of the Company (or is merged into or consolidated with the Company
or Subsidiary of the Company in accordance with the terms hereof) pursuant to an acquisition or Debt assumed by Company or its
Subsidiaries in respect of assets acquired by such Person pursuant to an acquisition; and

 

(viii)         Debt
of LineaRX, Inc. outstanding on the date of this Amendment and as set forth on Schedule II hereto.”

 

    	 	-10-	 

     

    

 

““Permitted Investment”
shall mean any of the following Investments:

 

(i)             Investments
in cash and cash equivalents;

 

(ii)             loans
and advances to employees in the ordinary course of business not to exceed $250,000 in the aggregate at any time outstanding;

 

(iii)            Investments
received as the non-cash portion of consideration;

 

(iv)           Investments
acquired in connection with the settlement of delinquent accounts in the ordinary course of business or in connection with the
bankruptcy or reorganization of suppliers or customers;

 

(v)            Investments
existing on the date of this Amendment and as set forth on Schedule III hereto;

 

(vi)            Investments
consisting of contributions in or to any joint ventures of LineaRX, Inc. entered into after date of this Amendment.”

 

““Permitted Liens”
shall mean:

 

(i)              any
Lien securing Permitted Indebtedness and any Lien existing on the date of this Amendment (or any Lien securing any refinancing,
extension, renewal or refunding permitted hereunder of the obligations secured thereby);

 

(ii)             any
Lien securing the Notes;

 

(iii)            Liens
for taxes, fees, assessments or other governmental charges which are not past due or remain payable without penalty;

 

(iv)           carriers’,
warehousemen’s, mechanics’, landlords’, materialmen’s, repairmen’s or other similar Liens arising
in the ordinary course of business which are not delinquent for more than ninety (90) days or remain payable without penalty or
which are being contested in good faith and by appropriate proceedings diligently prosecuted, which proceedings have the effect
of preventing the forfeiture or sale of the property subject thereto and for which adequate reserves in accordance with GAAP are
being maintained;

 

(v)             Liens
(other than any Lien imposed by ERISA) consisting of pledges or deposits required in the ordinary course of business in connection
with workers’ compensation, unemployment insurance and other social security legislation or to secure the performance of
tenders, statutory obligations, surety, stay, customs and appeals bonds, bids, leases, governmental contract, trade contracts,
performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money)
or to secure liability to insurance carriers;

 

    	 	-11-	 

     

    

 

(vi)       Liens
consisting of judgment or judicial attachment liens (other than for payment of taxes, assessments or other governmental charges),
provided that the enforcement of such Liens is effectively stayed and all such Liens secure claims in the aggregate at any time
outstanding for Company and its Subsidiaries not exceeding $100,000;

 

(vii)           easements,
rights of way, zoning and other restrictions, minor defects or other irregularities in title, and other similar defects and encumbrances
which, either individually or in the aggregate, do not in any case materially detract from the value of the property subject thereto
or interfere in any material respect with the ordinary conduct of the businesses of any of Borrower and its Subsidiaries;

 

(viii)          Liens
securing Capital Lease Obligations; provided that (i) any such Lien attaches solely to the property subject to the related Capital
Lease and the proceeds thereof, and (ii) the principal amount of the Capital Lease Obligation secured thereby does not exceed 100%
of the cost of such property;

 

(ix)            any
interest or title of a lessor or sublessor under any lease permitted by this Note and matters affecting the interest or title of
a lessor or sublessor to any leased property under any lease permitted hereunder;

 

(x)             Liens
arising from precautionary uniform commercial code financing statements filed under any lease permitted by this Note;

 

(xi)            Non-exclusive
licenses and non-exclusive sublicenses granted by any of Company and its Subsidiaries and leases and subleases (by any of Company
and its Subsidiaries as lessor or sublessor) to third parties in the ordinary course of business not interfering in any material
respect with the business of any of Company and its Subsidiaries;

 

(xii)            Liens
(including the right of set-off) in favor of a bank or other depository institution arising as a matter of law encumbering deposits;

 

(xiii)           Liens
arising out of consignment or similar arrangements for the sale of goods entered into by any of Company and its Subsidiaries in
the ordinary course of business; and

 

    	 	-12-	 

     

    

 

(xiv)       Liens
in favor of customs and revenue authorities arising as a matter of law which secure payment of customs duties in connection with
the importation of goods in the ordinary course of business.”

 

3.              Consent.
Each Required Holder consents to this Amendment.

 

4.              Continuation
of Notes. Except as modified by this Amendment, the Notes shall remain unchanged and continue in full force and effect.

 

5.              Entire
Agreement. This Amendment contains the entire agreement among the parties with respect to the subject matter hereof and supersede
all prior arrangements and understandings with respect thereto.

 

6.              Binding
Effect. This Amendment shall be binding upon, inure to the benefit of, and be enforceable by, the parties hereto and their
respective legal representatives, successors and assigns.

 

7.              Governing
Law. This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of New York.

 

8.              Severability.
If one or more provisions of this Amendment are held to be unenforceable under applicable law, such provision shall be excluded
from this Amendment and the balance of this Amendment shall be interpreted as if such provision were so excluded and shall be enforceable
in accordance with its terms.

 

9              Counterparts;
Facsimile or Electronic Transmission. This Amendment may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. A facsimile or electronic transmission of
a scanned copy of a signed counterpart signature page hereto shall be deemed to be an originally executed copy for purposes of
this Agreement.

 

[Signature page follows]

 

    	 	-13-	 

     

    

 

IN WITNESS WHEREOF, each
of the parties hereto has executed this Amendment to Secured Convertible Notes as of the date first above written.

 

	 	COMPANY:
	 	 
	 	APPLIED DNA SCIENCES, INC.

 

	 	By:	/s/ Beth Jantzen
	 	 	Beth Jantzen
	 	 	Chief Financial Officer

 

[Signature Page to Amendment to Secured Convertible
Notes]

 

    			 

     

    

 

IN WITNESS WHEREOF, each
of the parties hereto has executed this Amendment to Secured Convertible Notes as of the date first above written.

 

	 	Individuals Sign Below:

 

	 	/s/ James Hayward
	 	Signature

 

	 	James Hayward
	 	Name

 

	 	 
	 	Signature (if more than one)

 

	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:

 

	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)

 

	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:

 

	 	/s/ Judith Murrah
	 	Signature

 

	 	Judith Murrah
	 	Name

 

	 	 
	 	Signature (if more than one)

 

	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 

 

	 	Name of Purchaser (please print)
	 	 

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)

 

	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:

 

	 	/s/ Yacov Shamash
	 	Signature

 

	 	Yacov Shamash
	 	Name

 

	 	 
	 	Signature (if more than one)

 

	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:

 

	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)

 

	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ Robert B. Catell
	 	Signature
	 	 
	 	Robert B. Catell
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ Elizabeth Schmalz Ferguson
	 	Signature
	 	 
	 	Elizabeth Schmalz Ferguson
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)

 

	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ Gregg Baldwin
	 	Signature
	 	 
	 	Gregg Baldwin
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ William Montgomery
	 	Signature
	 	 
	 	William Montgomery
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ Johnette van Eeden
	 	Signature
	 	 
	 	Johnette van Eeden
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ John Cartier
	 	Signature
	 	 
	 	John Cartier
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	/s/ Wayne Buchen
	 	Signature
	 	 
	 	Wayne Buchen
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	 
	 	Name of Purchaser (please print)
	 	 

 

	 	By:	 
	 	 	Signature

 

	 	 
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	Delabarta II
	 	Name of Purchaser (please print)
	 	 

 

	 	By:	/s/ John Bitzer III
	 	 	Signature

 

	 	John Bitzer III, President
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

	 	Individuals Sign Below:
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Name
	 	 
	 	 
	 	Signature (if more than one)
	 	 
	 	 
	 	Name (if more than one)

 

	 	Corporations, Trusts, Partnerships, Limited Liability Companies or Other Entities Sign Below:
	 	 
	 	The Rodgers Living Trust Dated April 7, 1995
	 	Name of Purchaser (please print)
	 	 

 

	 	By:	/s/ Jay D. Rodgers
	 	 	Signature

 

	 	Jay D. Rodgers
	 	(print name and title of signatory)
	 	 
	 	Address, Facsimile and E-mail:
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

[Holder Signature Page to Amendment to Convertible
Promissory Notes]

 

    			 

     

    

 

Exhibit A

 

	HOLDER	 	NOTE PRINCIPAL
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

    			 

     

    

 

Schedule I

 

None

 

    			 

     

    

 

Schedule II

 

None

 

    			 

     

    

 

Schedule III

 

None

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