Document:

Exhibit
10.2

 

EXECUTED
VERSION

 

SECURITY
AGREEMENT

 

This
SECURITY AGREEMENT, dated as of August 29, 2018 (this “Agreement”), is entered into by and among Attis Industries
Inc., a New York corporation (the “Company”), each subsidiary of the Company that is a signatory hereto either
now joined or joined in the future (each subsidiary, a “Guarantor”, and collectively with the Company, the
“Debtors”, with each being a “Debtor”) and the holders of the Company’s 8% Senior
Secured Convertible Promissory Notes in the principal amount of $5,439,000.00 (the “Notes”) and the Company’s
Warrants to Purchase Common Stock (the “Warrants”), as signatories hereto, their endorsees, transferees and
assigns (the “Secured Lenders”, with each being a “Secured Lender”), and MEF I, L.P., a
Delaware limited partnership and a Secured Lender, is the collateral agent for all of the Secured Lender and Secured Parties (as
defined below).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement, dated as of even date herewith, by and among the Company and the purchasers
as signatories thereto (the “Purchase Agreement”), the Secured Lenders have agreed to fund the Company with
respect to the issuance of the Notes and due, subject to the terms therein, one year from its date of issuance, issued by the
Company to the Secured Lenders, the Warrants and any other securities that may be issued from time-to-time (the “Securities”);

 

WHEREAS,
simultaneous with the Closing of the transactions contemplated under the Purchase Agreement and the other Transaction Documents
(as defined in the Purchase Agreement), the Company shall satisfy its obligations, and the obligations of certain of its subsidiaries
(collectively, with the Company, the “Borrowers”), under that certain Amended and Restated Term Loan Note dated
April 20, 2018 issued by certain the Company’s subsidiaries to the Purchaser (the “GSSLH Note”), Goldman
Sachs Specialty Lending Holdings, Inc. (“GSSLH”) and the release of certain of the Borrowers’ assets
from certain security interests (the “GS Security Interests”) granted under that certain Amended and Restated
Pledge and Security Agreement, dated as of April 20, 2018, by and between the Borrowers and Goldman Sachs Specialty Lending Group,
L.P. (the “GS Security Agreement” and such satisfaction and release, the “GS Transactions”);

 

WHEREAS,
the Guarantors have jointly and severally agreed to guarantee and act as surety for payment of the Notes and Warrants (the “Guarantee”),
pursuant to that certain Subsidiary Guarantee, in the form attached hereto as Exhibit A (the “Subsidiary Guarantee”);
and

 

WHEREAS,
in order to induce the Secured Lenders to fund the Company, each Debtor has agreed to execute and deliver to the Secured Lenders
this Agreement and to grant the Secured Lenders a Security Interest in certain property of such Debtor to secure the prompt payment,
performance and discharge in full of all of the Company’s obligations under the Transaction Documents and the Guarantors’
obligations under the Subsidiary Guarantee.

 

    

    

    

 

NOW,
THEREFORE, in consideration of the agreements herein contained and for other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

1. Certain
Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this Section 1. Terms
used but not otherwise defined in this Agreement that are defined in Article 9 of the UCC (such as
“account”, “chattel paper”, “commercial tort claim”, “deposit account”, “document”,
“equipment”, “fixtures”, “general intangibles”, “goods”, “instruments”,
“inventory”, “investment property”, “letter-of-credit rights”, “proceeds” and
“supporting obligations”) shall have the respective meanings given such terms in Article 9 of the UCC.

 

(a) “Borrowers”
shall have the meaning ascribed to such term in the Preamble

 

(b) “Collateral”
means the collateral in which the Secured Lenders are granted a Security Interest by this Agreement and which shall comprise
all the assets of the Debtor, including, without limitation, those certain receivables and the following personal property of
the Debtors, whether presently owned or existing or hereafter acquired or coming into existence, wherever situated, and all additions
and accessions thereto and all substitutions and replacements thereof, and all proceeds, products and accounts thereof, including,
without limitation, all proceeds from the sale or transfer of the Collateral and of insurance covering the same and of any tort
claims in connection therewith, and all dividends, interest, cash, notes, securities, equity interest or other property at any
time and from time to time acquired, receivable or otherwise distributed in respect of, or in exchange for, any or all of the
Pledged Securities (as defined below):

 

(i) All
goods, including, without limitation, (A) all machinery, equipment, computers, motor vehicles, trucks, tanks, boats, ships, appliances,
furniture, special and general tools, fixtures, test and quality control devices and other equipment of every kind and nature
and wherever situated, together with all documents of title and documents representing the same, all additions and accessions
thereto, replacements therefor, all parts therefor, and all substitutes for any of the foregoing and all other items used and
useful in connection with any Debtor’s businesses and all improvements thereto; and (B) all inventory;

 

(ii) All
contract rights and other general intangibles, including, without limitation, all partnership interests, membership interests,
stock or other securities, rights under any of the Organizational Documents, agreements related to the Pledged Securities, licenses,
distribution and other agreements, computer software (whether “off-the-shelf”, licensed from any third party or developed
by any Debtor), computer software development rights, leases, franchises, customer lists, quality control procedures, grants and
rights, goodwill, Intellectual Property and income tax refunds;

 

(iii) All
accounts, together with all instruments, all documents of title representing any of the foregoing, all rights in any merchandising,
goods, equipment, motor vehicles and trucks which any of the same may represent, and all right, title, security and guaranties
with respect to each account, including any right of stoppage in transit;

 

(iv) All
documents, letter-of-credit rights, instruments and chattel paper;

 

(v) All
commercial tort claims;

 

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(vi) All
deposit accounts and all cash (whether or not deposited in such deposit accounts);

 

(vii) All
investment property;

 

(viii) All
supporting obligations;

 

(ix) All
files, records, books of account, business papers, and computer programs; and

 

(x) The
products and proceeds of all of the foregoing Collateral set forth in clauses (i)-(ix) above.

 

Without
limiting the generality of the foregoing, the “Collateral” shall include all investment property and any other
shares of capital stock and/or other equity interests of any Debtor (other than any such equity security issued by an Excluded
Security) obtained in the future, and, in each case, all certificates representing such shares and/or equity interests and, in
each case, all rights, options, warrants, stock, other securities and/or equity interests that may hereafter be received, receivable
or distributed in respect of, or exchanged for, any of the foregoing and all rights arising under or in connection with the Pledged
Securities, including, but not limited to, all dividends, interest and cash.

 

Notwithstanding
the foregoing, nothing herein shall be deemed to constitute an assignment of any asset which, in the event of an assignment, becomes
void by operation of applicable law or the assignment of which is otherwise prohibited by applicable law (in each case to the
extent that such applicable law is not overridden by Sections 9-406, 9-407 and/or 9-408 of the UCC or other similar applicable
law); provided, however, that, to the extent permitted by applicable law, this Agreement shall create a valid Security
Interest in such asset and, to the extent permitted by applicable law, this Agreement shall create a valid Security Interest in
the proceeds of such asset.

 

Notwithstanding
anything herein to the contrary, each Debtor and the Secured Lenders, hereby acknowledge and agree that the Security Interest
created hereby shall not extend to, and the term “Collateral” shall not include, and the Security Interest granted
herein shall not attach to, (i) any “intent to use” trademark application for which a statement of use has not been
filed (but only until such statement is filed and accepted by with the United States Patent and Trademark Office); and (ii) any
asset subject to any rule of law, statute or regulation or any agreement, contractual obligation or any general intangible (including
a contract, permit, license or franchise) or a Permitted Lien, where the grant of such Security Interest is prohibited or would
invalidate or constitute a breach or violation of, or results in the termination of or requires any consent not obtained under
the provisions of, any such rule of law, statute, regulation, agreement or general intangible, or agreement or agreements creating
or giving rise to such Permitted Lien, but only to the extent that such consent is not obtained by such Debtor, provided that
the limitation set forth in this clause (ii) shall (x) exist only for so long as such rule of law, statute, regulation, agreement
or general intangible, or agreement and the Permitted Lien created therein, continue to be effective and (y) not apply, in the
case of any such prohibition or restriction, with respect to any asset if and to the extent that such prohibition or restriction
on the Security Interest in and to such asset granted in this Security Agreement is rendered ineffective under Sections 9-406,
9-407, 9-408, or 9-409 of the UCC (collectively, the “Excluded Collateral”); provided, that, if and when the
foregoing shall cease to be Excluded Collateral, a lien and Security Interest shall be deemed granted therein, or (iii) any asset,
and the proceeds thereof, which are permitted to be incurred under the Purchase Agreement if, and to the extent, the documents
relating thereto do not permit any other Person to have a Security Interest or other lien in such asset.

 

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For
the avoidance of doubt, the term “Collateral” shall not include, and the Security Interest granted herein shall not
attach to, the assets of any Excluded Subsidiary (the “Excluded Collateral”), including, without limitation,
any receivables or personal property of the Excluded Subsidiaries, whether presently owned or existing or hereafter acquired or
coming into existence, wherever situated, and all additions and accessions thereto and all substitutions and replacements thereof,
and all proceeds, products and accounts thereof, including, without limitation, all proceeds from the sale or transfer of the
Excluded Collateral and of insurance covering the same and of any tort claims in connection therewith, and all dividends, interest,
cash, notes, securities, equity interest or other property at any time and from time to time acquired, receivable or otherwise
distributed in respect of, or in exchange for, any or all of the securities issued by any Excluded Subsidiary (including any such
security held, directly or indirectly, by the Company).

 

(c) “Collateral
Agent” means MEF I, L.P., in its capacity as collateral agent for the Secured Parties hereunder and the other Transaction
Documents.

 

(d) “Event
of Default” shall have the meaning ascribed to such term in the Notes.

 

(e) “Excluded
Subsidiaries” means the direct and indirect subsidiaries of the Company set forth on Schedule 1 hereto, and any
subsidiary thereof formed or incorporated in the future, and any successor entity to any of the foregoing.

 

(f) “Guarantee”
shall have the meaning ascribed to such term in the Preamble.

 

(g) “GS
Security Agreement” shall have the meaning ascribed to such term in the Preamble.

 

(h) “GS
Security Interests” shall have the meaning ascribed to such term in the Preamble.

 

(i) “GS
Transactions” shall have the meaning ascribed to such term in the Preamble.

 

(j) “GSSLH”
means Goldman Sachs Specialty Lending Holdings, Inc.

 

(k) “GSSLH
Note” shall have the meaning ascribed to such term in the Preamble.

 

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(l) “Intellectual
Property” means the collective reference to all rights, priorities and privileges relating to intellectual property,
whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, (i) all copyrights
arising under the laws of the United States, any other country or any political subdivision thereof, whether registered or unregistered
and whether published or unpublished, all registrations and recordings thereof, and all applications in connection therewith,
including, without limitation, all registrations, recordings and applications in the United States Copyright Office, (ii) all
letters patent of the United States, any other country or any political subdivision thereof, all reissues and extensions thereof,
and all applications for letters patent of the United States or any other country and all divisions, continuations and continuations-in-part
thereof, (iii) all trademarks, trade names, corporate names, company names, business names, fictitious business names, trade dress,
service marks, logos, domain names and other source or business identifiers, and all goodwill associated therewith, now existing
or hereafter adopted or acquired, all registrations and recordings thereof, and all applications in connection therewith, whether
in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or
any other country or any political subdivision thereof, or otherwise, and all common law rights related thereto, (iv) all trade
secrets arising under the laws of the United States, any other country or any political subdivision thereof, (v) all rights to
obtain any reissues, renewals or extensions of the foregoing, (vi) all licenses for any of the foregoing, and (vii) all causes
of action for infringement of the foregoing.

 

(m) “Intellectual
Property Security Agreement” shall have the meaning ascribed to such term in Section 4(p).

 

(n) “Necessary
Endorsement” means undated stock powers endorsed in blank or other proper instruments of assignment duly executed and
such other instruments or documents as the Secured Lenders may reasonably request.

 

(o) “Obligations”
means all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become
due, or that are now or may be hereafter contracted or acquired, or owing to, of any Debtor to the Secured Lenders pursuant to
this Agreement, the Securities, the other Transaction Documents, and any other instruments, agreements or other documents executed
and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary,
direct or indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or
not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such obligations
or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from
any of the Secured Lenders as a preference, fraudulent transfer or otherwise as such obligations may be amended, supplemented,
converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations”
shall include, without limitation: (i) principal of, interest, and any other amounts owed on the Notes as set forth in the Notes;
(ii) any and all obligations due under the Warrants; (iii) any and all obligations due under the Transaction Documents; (iv) any
and all other fees, indemnities, costs, obligations and liabilities of the Debtors from time to time under or in connection with
this Agreement, the Securities, the other Transaction Documents and any other instruments, agreements or other documents executed
and/or delivered in connection herewith or therewith; (v) all amounts (including but not limited to post-petition interest) in
respect of the foregoing that would be payable but for the fact that the obligations to pay such amounts are unenforceable or
not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving any Debtor; and (vi) all foreign
assets of the Company.

 

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(p) “Organizational
Documents” means, with respect to any Debtor, the documents by which such Debtor was organized (such as articles of
incorporation, certificate of incorporation, certificate of limited partnership or articles of organization, and including, without
limitation, any certificates of designation for preferred stock or other forms of preferred equity) and which relate to the internal
governance of such Debtor (such as bylaws, a partnership agreement or an operating, limited liability or members agreement).

 

(q) “Permitted
Liens” means the following:

 

(i) Liens
for taxes, assessments and other governmental charges or levies not yet due or Liens for taxes, assessments and other governmental
charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith
judgment of the management of the Company) have been established in accordance with GAAP;

 

(ii) Liens
imposed by law which were incurred in the ordinary course of the Company’s business, such as carriers’, warehousemen’s
and mechanics’ Liens, statutory landlords’ Liens, and other similar Liens arising in the ordinary course of the Company’s
business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or
materially impair the use thereof in the operation of the business of the Company and its consolidated Subsidiaries, or (y) are
being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable
future the forfeiture or sale of the property or asset subject to such Lien, or (z) that are not overdue by more than thirty (30)
days or are being contested in good faith;

 

(iii) Pledges
and deposits made in the ordinary course of business in compliance with workers’ compensation, unemployment insurance and
other social security laws or regulations;

 

(iv) Deposits
to secure the performance of bids, trade contracts, leases, statutory obligations, surety and appeal bonds, performance bonds
and other obligations of a like nature, in each case in the ordinary course of business;

 

(v) Liens
under this Agreement and the other Transaction Documents; and

 

(vi) Any
other liens in favor of the Secured Lenders; and

 

(vii) Liens
permitted as set forth on Schedule 2 hereto.

 

(r) “Pledged
Interests” shall have the meaning ascribed to such term in Section 4(j).

 

(s) “Pledged
Securities” shall have the meaning ascribed to such term in Section 4(i).

 

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(t) “Purchase
Agreement” shall have the meaning ascribed to such term in the Preamble.

 

(u) “Security
Interest” and “Security Interests” shall have the meaning ascribed to such terms in Section 2.

 

(v) “Secured
Party” shall have the meaning ascribed to such term in Article 9 of the UCC.

 

(w) “Securities”
shall have the meaning ascribed to such term in the Preamble

 

(x) “Subsidiary
Guarantee” shall have the meaning ascribed to such term in the Preamble.

 

(y) “Transaction
Documents” shall have the meaning ascribed to such term in the Purchase Agreement.

 

(z) “UCC”
means the Uniform Commercial Code of the State of New York and any other applicable law of any state or states that has jurisdiction
with respect to all, or any portion of, the Collateral or this Agreement, from time to time. It is the intent of the parties that
defined terms in the UCC should be construed in their broadest sense so that the term “Collateral” will be construed
in its broadest sense. Accordingly, if there are, from time to time, changes to defined terms in the UCC that broaden the definitions,
they are incorporated herein and if existing definitions in the UCC are broader than the amended definitions, the existing ones
shall be controlling.

 

2. Grant
of Security Interest in Collateral. As an inducement for the
Secured Lenders to fund the Company and to secure the complete and timely payment, performance and discharge in full, as the case
may be, of all of the Obligations, each Debtor subject to release of the GS Security Interests and return to the Company of any
collateral pledged under the GS Security Agreement (the “GS Collateral”) hereby unconditionally and irrevocably
pledges, grants and hypothecates to the Secured Lenders a perfected, first priority Security Interest in and to, a lien upon and
a right of set-off against all of their respective right, title and interest of whatsoever kind and nature in and to, the Collateral
(a “Security Interest” and, collectively, the “Security Interests”).

 

3. Delivery
of Certain Collateral. Within the later of (i) ten (10) days after the execution of this Agreement, and (ii) three (3) days
after the return to the Company of the GS Collateral, each Debtor shall deliver or cause to be delivered to the Secured Lenders
(a) any and all certificates and other instruments representing or evidencing the Pledged Securities, and (b) any and all certificates
and other instruments or documents representing any of the other Collateral, in each case, together with all Necessary Endorsements.
The Debtors are, contemporaneously with the execution hereof, delivering to Secured Lenders, or have previously delivered to Secured
Lenders, a true and correct copy of each Organizational Document governing any of the Pledged Securities.

 

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4. Representations,
Warranties, Covenants and Agreements of the Debtors. Except as set forth under the corresponding Section of the disclosure
schedules delivered to the Secured Lenders concurrently herewith (the “Disclosure Schedules”), which Disclosure
Schedules shall be deemed a part hereof, each Debtor represents and warrants to, and covenants and agrees with, the Secured Lenders
as follows:

 

(a) Each
Debtor has the requisite corporate, partnership, limited liability company or other power and authority to enter into this Agreement
and otherwise to carry out its obligations hereunder. The execution, delivery and performance by each Debtor of this Agreement
and the filings contemplated therein have been duly authorized by all necessary action on the part of such Debtor and no further
action is required by such Debtor. This Agreement has been duly executed by each Debtor. This Agreement constitutes the legal,
valid and binding obligation of each Debtor, enforceable against each Debtor in accordance with its terms except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization and similar laws of general application relating to or affecting
the rights and remedies of creditors and by general principles of equity.

 

(b) As
of the date hereof, the Debtors have no place of business or offices where their respective books of account and records are kept
(other than temporarily at the offices of its attorneys or accountants) or places where Collateral is stored or located, except
as set forth on Schedule A attached hereto. Except as specifically set forth on Schedule A as of the date hereof,
each Debtor is the record owner of the real property where such Collateral is located, and there exist no mortgages or other liens
on any such real property except for Permitted Liens as set forth on Schedule B. Except as disclosed on Schedule A,
none of such Collateral is in the possession of any consignee, bailee, warehouseman, agent or processor.

 

(c) Except
for Permitted Liens and as set forth on Schedule B attached hereto, the Debtors are the sole owners of the Collateral (except
for non-exclusive licenses granted by any Debtor in the ordinary course of business), free and clear of any liens, Security Interests,
encumbrances, rights or claims, and are fully authorized to grant the Security Interests. Except as set forth on Schedule C
attached hereto, there is not on file in any governmental or regulatory authority, agency or recording office an effective
financing statement, security agreement, license or transfer or any notice of any of the foregoing (other than those that will
be filed in favor of the Secured Lenders pursuant to this Agreement) covering or affecting any of the Collateral. Except as set
forth on Schedule C attached hereto and except pursuant to this Agreement, as long as this Agreement shall be in effect,
the Debtors shall not execute and shall not knowingly permit to be on file in any such office or agency any other financing statement
or other document or instrument (except to the extent filed or recorded in favor of the Secured Lenders pursuant to the terms
of this Agreement).

 

(d) No
written claim has been received that any Collateral or any Debtor’s use of any Collateral violates the rights of any third
party. There has been no adverse decision to any Debtor’s claim of ownership rights in or exclusive rights to use the Collateral
in any jurisdiction or to any Debtor’s right to keep and maintain such Collateral in full force and effect, and there is
no proceeding involving said rights pending or, to the best knowledge of any Debtor, threatened before any court, judicial body,
administrative or regulatory agency, arbitrator or other governmental authority.

 

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(e) Each
Debtor shall at all times maintain its books of account and records relating to the Collateral at its principal place of business
and its Collateral at the locations set forth on Schedule A attached hereto and may not relocate such books of account
and records or tangible Collateral unless it delivers to the Secured Lenders at least ten (10) days prior to such relocation (i)
written notice of such relocation and the new location thereof (which must be within the United States), and (ii) evidence that
appropriate financing statements under the UCC and other necessary documents have been filed and recorded and other steps have
been taken to perfect the Security Interests to create in favor of the Secured Lenders a valid, perfected and continuing perfected
first priority lien in the Collateral.

 

(f) This
Agreement creates in favor of the Secured Lenders a valid first priority Security Interest in the Collateral, subject only to
Permitted Liens, securing the payment and performance of the Obligations. Upon making the filings described in the immediately
following paragraph, all Security Interests created hereunder in any Collateral which may be perfected by filing Uniform Commercial
Code financing statements shall have been duly perfected. Except for (i) the filing of the Uniform Commercial Code financing statements
referred to in the immediately following paragraph, (ii) the recordation of the Intellectual Property Security Agreement with
respect to copyrights and copyright applications in the United States Copyright Office referred to in paragraph (mm), (iii) the
recordation of the Intellectual Property Security Agreement with respect to patents and trademarks of the Debtors in the United
States Patent and Trademark Office referred to in paragraph (oo), (iv) the execution and delivery of deposit account control agreements
satisfying the requirements of Section 9-104(a)(2) of the UCC with respect to each deposit account of the Debtors, (v)
if there is any investment property or deposit account included as Collateral that can be perfected by “control” through
an account control agreement, the execution and delivery of securities account control agreements satisfying the requirements
of 9-106 of the UCC with respect to each such investment property of the Debtors, and (vi) the delivery of the certificates and
other instruments provided in Section 3, Section 4(aa) and Section 4(cc), no action is necessary to create,
perfect or protect the Security Interests created hereunder. Without limiting the generality of the foregoing, except for the
foregoing, no consent of any third parties and no authorization, approval or other action by, and no notice to or filing with,
any governmental authority or regulatory body is required for (x) the execution, delivery and performance of this Agreement, (y)
the creation or perfection of the Security Interests created hereunder in the Collateral, or (z) the enforcement of the rights
of the Secured Lenders hereunder.

 

(g) Each
Debtor hereby authorizes the Secured Lenders to file one or more financing statements under the UCC, with respect to the Security
Interests, with the proper filing and recording agencies in any jurisdiction reasonably deemed proper by it.

 

(h) The
execution, delivery and performance of this Agreement by the Debtors does not (i) violate any of the provisions of any Organizational
Documents of any Debtor or any judgment, decree, order or award of any court, governmental body or arbitrator or any applicable
law, rule or regulation applicable to any Debtor, or (ii) conflict with, or constitute a default (or an event that with notice
or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or
cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
any Debtor’s debt or otherwise) or other understanding to which any Debtor is a party or by which any property or asset
of any Debtor is bound or affected. If any, all required consents (including, without limitation, from stockholders or creditors
of any Debtor) necessary for any Debtor to enter into and perform its obligations hereunder have been obtained.

 

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(i) The
capital stock and other equity interests (whether or not certificated) listed on Schedule H hereto (the “Pledged
Securities”) represent all capital stock and other equity interests of the Debtors (other than the Company) and represent
all capital stock and other equity interests owned, directly or indirectly, by the Company other than the Excluded Subsidiaries.
All of the Pledged Securities are validly issued, fully paid and nonassessable, and the Debtors are the legal and beneficial owners
of the Pledged Securities, free and clear of any lien, Security Interest or other encumbrance except for the Security Interests
created by this Agreement and other Permitted Liens.

 

(j) Each
Debtor hereby represents and warrants that no ownership or other equity interests in partnerships and
limited liability companies (if any) included in the Collateral (the “Pledged Interests”), which for the avoidance
of doubt shall exclude any Collateral of, or related to, an Excluded Subsidiary, is a “security” for purposes
of Article 8 of the UCC of the jurisdiction of organization of the issuer of such Pledged Interests. Each Debtor agrees that it
shall not opt to have any uncertificated Pledged Interests be treated as a “security” for purposes of Article 8 of
the UCC of the jurisdiction of organization of the issuer of such Pledged Interests.

 

(k) Except
for Permitted Liens, each Debtor shall at all times maintain the liens and Security Interests provided for hereunder as valid
and perfected, first priority liens and Security Interests in the Collateral in favor of the Secured Lenders until this Agreement
and the Security Interest hereunder shall be terminated pursuant to Section 14 hereof. Each Debtor hereby agrees to defend
the same against the claims of any and all persons and entities. Each Debtor shall safeguard and protect all Collateral for the
account of the Secured Lenders. At the request of the Secured Lenders, each Debtor will sign and deliver to the Secured Lenders
at any time or from time to time one or more financing statements pursuant to the UCC in form reasonably satisfactory to the Secured
Lenders and will pay the cost of filing the same in all public offices wherever filing is, or is deemed by the Secured Lenders
to be, reasonably necessary or desirable to effect the rights and obligations provided for herein. Without limiting the generality
of the foregoing, each Debtor shall pay all fees, taxes and other amounts necessary to maintain the Collateral and the Security
Interests hereunder, and each Debtor shall obtain and furnish to the Secured Lenders from time to time, upon demand, such releases
and/or subordinations of claims and liens which may be required to maintain the priority of the Security Interests hereunder.

 

(l) No
Debtor will transfer, pledge, hypothecate, encumber, license, sell or otherwise dispose of any of the Collateral (except for non-exclusive
licenses granted by a Debtor in its ordinary course of business, sales of inventory by a Debtor in its ordinary course of business
and the replacement of worn-out or obsolete equipment by a Debtor in its ordinary course of business) without the prior written
consent of the Secured Lenders.

 

(m) Each
Debtor shall keep and preserve its equipment, inventory and other tangible Collateral in good condition, repair and order and
shall not operate or locate any such Collateral (or cause to be operated or located) in any area excluded from insurance coverage.

 

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(n) Each
Debtor shall maintain with financially sound and reputable insurers, insurance with respect to the Collateral, including Collateral
hereafter acquired, against loss or damage of the kinds and in the amounts customarily insured against by entities of established
reputation having similar properties similarly situated and in such amounts as are customarily carried under similar circumstances
by other such entities and otherwise as is prudent for entities engaged in similar businesses but in any event sufficient to cover
the full replacement cost thereof. If no Event of Default exists and if the proceeds arising out of any claim or series of related
claims do not exceed $100,000, loss payments in each instance will be applied by the applicable Debtor to the repair and/or replacement
of property with respect to which the loss was incurred to the extent reasonably feasible, and any loss payments or the balance
thereof remaining, to the extent not so applied, shall be payable to the applicable Debtor; provided, however, that
payments received by any Debtor after an Event of Default or an Event of Default occurs and is continuing or in excess of $100,000
for any occurrence or series of related occurrences, upon approval by Secured Lenders, which approval shall not be unreasonably
withheld, delayed, denied or conditioned, loss payments in each instance will be applied by the applicable Debtor to the repair
and/or replacement of property with respect to which the loss was incurred to the extent reasonably feasible, and any loss payments
or the balance thereof remaining, to the extent not so applied, shall be paid to the Secured Lenders, and, if received by such
Debtor, shall be held in trust for the Secured Lenders and immediately paid over to the Secured Lenders unless otherwise directed
in writing by the Secured Lenders. Copies of such policies or the related certificates, in each case, naming the Secured Lenders
as lender-loss-payee and additional insured shall be delivered to the Secured Lenders at least annually and at the time any new
policy of insurance is issued.

 

(o) Each
Debtor shall, within ten (10) days of obtaining knowledge thereof, advise the Secured Lenders, in sufficient detail, of any material
adverse change in the Collateral, and of the occurrence of any event that would have a material adverse effect on the value of
the Collateral or on the Secured Lenders’ Security Interest, through the Secured Lenders, therein.

 

(p) Each
Debtor shall promptly execute and deliver to the Secured Lenders such further deeds, mortgages, assignments, security agreements,
financing statements or other instruments, documents, certificates and assurances and take such further action as the Secured
Lenders may from time to time request and may in its sole discretion deem necessary to perfect, protect or enforce the Secured
Lenders’ Security Interests in the Collateral, including, without limitation, if applicable, the execution and delivery
of a separate security agreement with respect to each Debtor’s Intellectual Property (“Intellectual Property Security
Agreement”) in which the Secured Lenders have been granted a Security Interest hereunder, substantially in a form reasonably
acceptable to the Secured Lenders, which Intellectual Property Security Agreement, other than as stated therein, shall be subject
to all of the terms and conditions hereof.

 

(q) Upon
prior notice (so long as no Event of Default or a breach under any of the Transaction Documents has occurred or continuing, which
in either such event, no prior notice is required), each Debtor shall permit the Secured Lenders and its representatives and agents
to inspect the Collateral during normal business hours and to make copies of records pertaining to the Collateral as may be reasonably
requested by the Secured Lenders from time to time but in any event not more than once during the calendar year.

 

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(r) Each
Debtor shall take all steps reasonably necessary to diligently pursue and seek to preserve, enforce and collect any rights, claims,
causes of action and accounts receivable in respect of the Collateral.

 

(s) Reserved.

 

(t) All
information heretofore, herein or hereafter supplied to the Secured Lenders by or on behalf of any Debtor with respect to the
Collateral is accurate and complete in all material respects as of the date furnished.

 

(u) The
Debtors shall at all times preserve and keep in full force and effect their respective valid existence and good standing and any
rights and franchises material to its business.

 

(v) No
Debtor will change its name, type of organization, jurisdiction of organization, organizational identification number (if it has
one), legal or corporate structure, or identity, or add any new fictitious name unless it provides at least ten (10) days’
prior written notice to the Secured Lenders of such change and, at the time of such written notification, such Debtor provides
any financing statements or fixture filings necessary to perfect and continue the perfection of the Security Interests granted
and evidenced by this Agreement.

 

(w) Except
in the ordinary course of business, no Debtor may consign any of its inventory or sell any of its inventory on bill-and-hold,
sale-or-return, sale-on-approval, or other conditional terms of sale without the consent of the Secured Lenders, which shall not
be unreasonably withheld, delayed, denied, or conditioned.

 

(x) No
Debtor may relocate its chief executive office to a new location without providing ten (10) days’ prior written notification
thereof to the Secured Lenders and so long as, at the time of such written notification, such Debtor provides any financing statements
or fixture filings necessary to perfect and continue the perfection of the Security Interests granted and evidenced by this Agreement.

 

(y) Each
Debtor was organized and remains organized solely under the laws of the state set forth next to such Debtor’s name in Schedule
D attached hereto, which Schedule D sets forth each Debtor’s organizational identification number or, if any
Debtor does not have one, states that one does not exist.

 

(z) As
of the date hereof, (i) the actual name of each Debtor is the name set forth in Schedule D attached hereto; (ii) no Debtor
has any trade names except as set forth on Schedule E attached hereto; (iii) no Debtor has used any name other than that
stated in the preamble hereto or as set forth on Schedule E for the preceding five (5) years; and (iv) no entity has merged
into any Debtor or been acquired by any Debtor within the past five (5) years except as set forth on Schedule E.

 

(aa)At
any time and from time to time that any Collateral consists of instruments, certificated securities or other items that require
or permit possession by the Secured Party to perfect the Security Interest created hereby, the applicable Debtor shall deliver
such Collateral to the Secured Lenders.

 

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(bb)Each
Debtor, in its capacity as issuer, hereby agrees to comply with any and all orders and instructions of Secured Lenders regarding
the Pledged Interests consistent with the terms of this Agreement without the further consent of any Debtor.

 

(cc)Each
Debtor shall cause all tangible chattel paper constituting Collateral to be delivered to the Secured Lenders, or, if such delivery
is not possible, then to cause such tangible chattel paper to contain a legend noting that it is subject to the Security Interest
created by this Agreement. To the extent that any Collateral consists of electronic chattel paper, the applicable Debtor shall
cause the underlying chattel paper to be “marked” within the meaning of Section 9-105 of the UCC (or successor Section
thereto).

 

(dd)If
there is any investment property or deposit account included as Collateral that can be perfected by “control” through
an account control agreement, the applicable Debtor shall cause such an account control agreement within thirty (30) days of the
date hereof, in form and substance in each case reasonably satisfactory to the Secured Lenders, to be entered into and delivered
to the Secured Lenders for the benefit of the Secured Lenders.

 

(ee)To
the extent that any Collateral consists of letter-of-credit rights, the applicable Debtor shall cause the issuer of each underlying
letter of credit to consent to an assignment of the proceeds thereof to the Secured Lenders.

 

(ff)To
the extent that any Collateral is in the possession of any third party, the applicable Debtor shall join with the Secured Lenders
in notifying such third party of the Secured Lenders’ Security Interest in such Collateral and shall use commercially reasonable
efforts to obtain an acknowledgement and agreement from such third party with respect to the Collateral, in form and substance
reasonably satisfactory to the Secured Lenders.

 

(gg)If
any Debtor shall at any time hold or acquire a commercial tort claim, such Debtor shall promptly notify the Secured Lenders in
a writing signed by such Debtor of the particulars thereof and grant to the Secured Lenders in such writing a Security Interest
therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance satisfactory
to the Secured Lenders.

 

(hh)Each
Debtor shall promptly provide written notice to the Secured Lenders of any and all accounts that are equal to or in excess of
One Million U.S. Dollars ($1,000,000) and which arise out of contracts with any governmental authority and, to the extent necessary
to perfect or continue the perfected status of the Security Interests in such accounts and proceeds thereof, shall execute and
deliver to the Secured Lenders an assignment of claims for such accounts and cooperate with the Secured Lenders in taking any
other steps required, in its judgment, under the Federal Assignment of Claims Act or any similar federal, state or local statute
or rule to perfect or continue the perfected status of the Security Interests in such accounts and proceeds thereof.

 

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(ii) Each
Debtor shall cause each subsidiary of such Debtor (other than an Excluded Subsidiary) to immediately become a party hereto (an
“Additional Debtor”), by executing and delivering an Additional Debtor Joinder in substantially the form of
Exhibit B attached hereto and comply with the provisions hereof applicable to the Debtors. Concurrently therewith, the
Additional Debtor shall deliver replacement schedules for, or supplements to all other Schedules to (or referred to in) this Agreement,
as applicable, which replacement schedules shall supersede, or supplements shall modify, the Schedules then in effect. The Additional
Debtor shall also deliver such opinions of counsel, authorizing resolutions, good standing certificates, incumbency certificates,
organizational documents, financing statements and other information and documentation as the Secured Lenders may reasonably request.
Upon delivery of the foregoing to the Secured Lenders, the Additional Debtor shall be and become a party to this Agreement with
the same rights and obligations as the Debtors, for all purposes hereof as fully and to the same extent as if it were an original
signatory hereto and shall be deemed to have made the representations, warranties and covenants set forth herein as of the date
of execution and delivery of such Additional Debtor Joinder, and all references herein to the “Debtors” shall be deemed
to include each Additional Debtor.

 

(jj)Each
Debtor shall vote the Pledged Securities to comply with the covenants and agreements set forth herein and in the Transaction Documents.

 

(kk)Each
Debtor shall register the pledge of the applicable Pledged Securities on the books of such Debtor. Each Debtor shall notify each
issuer of Pledged Securities to register the pledge of the applicable Pledged Securities in the name of the Secured Lenders on
the books of such issuer. Further, except with respect to certificated securities delivered to the Secured Lenders, the applicable
Debtor shall deliver to Secured Lenders an acknowledgement of pledge (which, where appropriate, shall comply with the requirements
of the relevant UCC with respect to perfection by registration) signed by the issuer of the applicable Pledged Securities, which
acknowledgement shall confirm that: (a) it has registered the pledge on its books and records; and (b) at any time directed by
Secured Lenders during the continuation of an Event of Default, such issuer will transfer the record ownership of such Pledged
Securities into the name of any designee of Secured Lenders, will take such steps as may be necessary to effect the transfer,
and will comply with all other instructions of Secured Lenders regarding such Pledged Securities without the further consent of
the applicable Debtor.

 

(ll)In
the event that, upon an occurrence and during the continuance of an Event of Default, Secured Lenders shall sell all or any of
the Pledged Securities to another party or parties (herein called the “Transferee”) or shall purchase or retain
all or any of the Pledged Securities, each Debtor shall, to the extent applicable: (i) deliver to Secured Lenders or the Transferee,
as the case may be, copies of the articles of incorporation, bylaws, minute books, stock certificate books, corporate seals, deeds,
leases, indentures, agreements, evidences of indebtedness, books of account, financial records and all other Organizational Documents
and records of the Debtors and their direct and indirect subsidiaries (but not including any items subject to the attorney-client
privilege related to this Agreement or any of the transactions hereunder); (ii) use commercially reasonable efforts to obtain
resignations of the persons then serving as officers and directors of the Debtors and their direct and indirect subsidiaries,
if so requested; and (iii) use commercially reasonable efforts to obtain any approvals that are required by any governmental or
regulatory body in order to permit the sale of the Pledged Securities to the Transferee or the purchase or retention of the Pledged
Securities by Secured Lenders and allow the Transferee or Secured Lenders to continue the business of the Debtors and their direct
and indirect subsidiaries.

 

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(mm)Without
limiting the generality of the other obligations of the Debtors hereunder, each Debtor shall promptly (i) cause to be registered
at the United States Copyright Office all of its material copyrights, (ii) cause the Security Interest contemplated hereby with
respect to all Intellectual Property registered at the United States Copyright Office or United States Patent and Trademark Office
to be duly recorded at the applicable office, and (iii) give the Secured Lenders notice whenever it acquires (whether absolutely
or by license) or creates any additional material Intellectual Property.

 

(nn)Reserved.

 

(oo) Schedule
F attached hereto lists all of the patents, patent applications, trademarks, trademark applications, registered copyrights,
and domain names owned by any of the Debtors as of the date hereof. Schedule F lists all material licenses in favor of
any Debtor for the use of any patents, trademarks, copyrights and domain names as of the date hereof. All material patents and
trademarks of the Debtors have been duly recorded at the United States Patent and Trademark Office and all material copyrights
of the Debtors have been duly recorded at the United States Copyright Office.

 

(pp)Except
as set forth on Schedule G attached hereto, none of the account debtors or other persons or entities obligated on any of
the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or any similar federal, state or local
statute or rule in respect of such Collateral.

 

(qq)Until
the Obligations shall have been paid and performed in full, the Company covenants that it shall promptly direct any direct or
indirect subsidiary of the Company formed or acquired after the date hereof to enter into a Subsidiary Guarantee in favor of the
Secured Party, in the form of attached hereto as Exhibit A.

 

5. Effect
of Pledge on Certain Rights. If any of the Collateral subject to this Agreement consists of nonvoting equity or ownership
interests (regardless of class, designation, preference or rights) that may be converted into voting
equity or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or
any of the other stock or assets of the issuer), it is agreed by Debtors that the pledge of such equity or ownership interests
pursuant to this Agreement or the enforcement of any of Secured Lenders’ rights hereunder shall not be deemed to be the
type of event which would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements
to which any Debtor is subject or to which any Debtor is party.

 

6. Defaults.
The following events shall be “Events of Default”:

 

(a) The
occurrence of an Event of Default (as defined in the Notes);

 

(b) The
occurrence of an event of default or breach under any of the Transaction Documents;

 

(c) Any
representation or warranty of any Debtor in this Agreement shall prove to have been incorrect in any material respect when made,
but if such misrepresentation is capable of being remedied, only if it is not remedied within thirty (30) days of notice thereof
to the Debtors to the satisfaction of the Secured Lenders;

 

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(d) The
failure by any Debtor to observe or perform any of its obligations hereunder for seven (7) Trading Days after delivery to such
Debtor of notice of such failure by or on behalf of a Secured Party unless such default is capable of cure but cannot be cured
within such time frame and such Debtor is using best efforts to cure same in a timely fashion; or

 

(e) If
any provision of this Agreement shall at any time for any reason be declared to be null and void, or the validity or enforceability
thereof shall be contested by any Debtor, or a proceeding shall be commenced by any Debtor, or by any governmental authority having
jurisdiction over any Debtor, seeking to establish the invalidity or unenforceability thereof, or any Debtor shall deny that any
Debtor has any liability or obligation purported to be created under this Agreement.

 

7. Duty
to Hold in Trust.

 

(a) Upon
the occurrence and during the continuance of any Event of Default and at any time thereafter, each Debtor shall, upon receipt
of any revenue, income, dividend, interest or other sums subject to the Security Interests, whether payable pursuant to the Transaction
Documents or otherwise, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any
such sum, hold the same in trust for the Secured Lenders and shall forthwith endorse and transfer any such sums or instruments,
or both, to the Secured Lenders.

 

(b) If
any Debtor shall become entitled to receive or shall receive any securities or other property (including, without limitation,
shares of Pledged Securities or instruments representing Pledged Securities acquired after the date hereof, or any options, warrants,
rights or other similar property or certificates representing a dividend, or any distribution in connection with any recapitalization,
reclassification or increase or reduction of capital, or issued in connection with any reorganization of such Debtor or any of
its direct or indirect subsidiaries) in respect of the Pledged Securities (whether as an addition to, in substitution of, or in
exchange for, such Pledged Securities or otherwise), such Debtor agrees to (i) accept the same as the agent of the Secured Lenders;
(ii) hold the same in trust on behalf of and for the benefit of the Secured Lenders; and (iii) to deliver any and all certificates
or instruments evidencing the same to Secured Lenders on or before the close of business on the fifth (5th) business
day following the receipt thereof by such Debtor, in the exact form received together with the Necessary Endorsements, to be held
by Secured Lenders subject to the terms of this Agreement as Collateral.

 

8. Rights
and Remedies Upon Default.

 

(a) During
the occurrence and continuance of any Event of Default, the Secured Lenders shall have the right to exercise all of the remedies
conferred hereunder and under the Transaction Documents, and the Secured Lenders shall have all the rights and remedies of a Secured
Party under the UCC. Without limitation, the Secured Lenders shall have the following rights and powers:

 

(i) The
Secured Lenders shall have the right to take possession of the Collateral and, for that purpose, enter, with the aid and assistance
of any person, any premises where the Collateral, or any part thereof, is or may be placed and remove the same, and each Debtor
shall assemble the Collateral and make it available to the Secured Lenders at places which the Secured Lenders shall reasonably
select, whether at such Debtor’s premises or elsewhere, and make available to the Secured Lenders, without rent, all of
such Debtor’s respective premises and facilities for the purpose of the Secured Lenders taking possession of, removing or
putting the Collateral in saleable or disposable form.

 

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(ii) Upon
contemporaneous notice to the Debtors by Secured Lenders, all rights of each Debtor to exercise the voting and other consensual
rights which it would otherwise be entitled to exercise and all rights of each Debtor to receive the dividends and interest which
it would otherwise be authorized to receive and retain, shall cease. Upon such notice, Secured Lenders shall have the right to
receive, for the benefit of the Secured Lenders, any interest, cash dividends or other payments on the Collateral and, at the
option of Secured Lenders, to exercise in Secured Lenders’ discretion all voting rights pertaining thereto. Without limiting
the generality of the foregoing, Secured Lenders shall have the right (but not the obligation) to exercise all rights with respect
to the Collateral as it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange, at
its sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization
or other readjustment concerning or involving the Collateral or any Debtor or any of its direct or indirect subsidiaries.

 

(iii) The
Secured Lenders shall, subject to applicable law, have the right to operate the business of each Debtor using the Collateral and
shall have the right to assign, sell, lease or otherwise dispose of and deliver all or any part of the Collateral, at public or
private sale or otherwise, either with or without special conditions or stipulations, for cash or on credit or for future delivery,
in such parcel or parcels and at such time or times and at such place or places, and upon such terms and conditions as the Secured
Lenders may deem commercially reasonable, all without (except as shall be required by applicable statute and cannot be waived)
advertisement or demand upon or notice to any Debtor or right of redemption of a Debtor, which are hereby expressly waived. Upon
each such sale, lease, assignment or other transfer of Collateral, the Secured Lenders, for the benefit of the Secured Lenders,
may, unless prohibited by applicable law which cannot be waived, purchase all or any part of the Collateral being sold, free from
and discharged of all trusts, claims, right of redemption and equities of any Debtor, which are hereby waived and released.

 

(iv) The
Secured Lenders shall have the right (but not the obligation) to notify any account debtors and any obligors under instruments
or accounts to make payments directly to the Secured Lenders, on behalf of the Secured Lenders, and to enforce the Debtors’
rights against such account debtors and obligors.

 

(v) The
Secured Lenders may (but is not obligated to) direct any financial intermediary or any other person or entity holding any investment
property to transfer the same to the Secured Lenders or their designees.

 

(vi) The
Secured Lenders may (but is not obligated to) transfer any or all Intellectual Property registered in the name of any Debtor at
the United States Patent and Trademark Office and/or Copyright Office into the names of the Secured Lenders or any designee or
any purchaser of any Collateral.

 

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(b) The
Secured Lenders shall comply with any applicable law in connection with a disposition of Collateral and such compliance will not
be considered adversely to affect the commercial reasonableness of any sale of the Collateral. The Secured Lenders may sell the
Collateral without giving any warranties and may specifically disclaim such warranties. If the Secured Lenders sell any of the
Collateral on credit, the Debtors will only be credited with payments actually made by the purchaser. In addition, each Debtor
waives (except as shall be required by applicable statute and cannot be waived) any and all rights that it may have to a judicial
hearing in advance of the enforcement of any of the Secured Lenders’ rights and remedies hereunder, including, without limitation,
its right following an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies
with respect thereto.

 

(c) For
the purpose of enabling the Secured Lenders to further exercise rights and remedies under this Section 8 or elsewhere provided
by agreement or applicable law, each Debtor hereby grants to the Secured Lenders, for the benefit of the Secured Lenders, an irrevocable,
nonexclusive license (exercisable without payment of royalty or other compensation to such Debtor) to use, license or sublicense
during the occurrence of an Event of Default, any Intellectual Property now owned or hereafter acquired by such Debtor, and wherever
the same may be located, and including in such license access to all media in which any of the licensed items may be recorded
or stored and to all computer software and programs used for the compilation or printout thereof.

 

9. Applications
of Proceeds. The proceeds of any such sale, lease or other disposition of the Collateral hereunder or from payments made on
account of any insurance policy insuring any portion of the Collateral shall be applied first, to the expenses of retaking, holding,
storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs
incurred in connection therewith) of the Collateral, to the reasonable attorneys’ fees and expenses incurred by the Secured
Lenders in enforcing the Secured Lenders’ rights hereunder and in connection with collecting, storing and disposing of the
Collateral, and then to satisfaction of the Obligations pro rata among the Secured Lenders (based on then issued and outstanding
Securities at the time of any such determination), and to the payment of any other amounts required
by applicable law, after which the Secured Lenders shall pay to the applicable Debtor any surplus proceeds. If, upon the sale,
license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to which the Secured
Lenders are legally entitled, the Debtors will be liable for the deficiency, together with interest thereon, at the rate of eighteen
percent (18%) per annum or the lesser amount permitted by applicable law (the “Default
Rate”), and the reasonable fees of any attorneys employed by the Secured Lenders to collect such deficiency. To the
extent permitted by applicable law, each Debtor waives all claims, damages and demands against the Secured Lenders arising out
of the repossession, removal, retention or sale of the Collateral, unless due solely to the gross negligence or willful misconduct
of the Secured Lenders or breach of the Transaction Documents by the Secured Lenders as determined by a final judgment (not subject
to further appeal) of a court of competent jurisdiction.

 

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10. Securities
Law Provision. Each Debtor recognizes that Secured Lenders may be limited in its ability to effect a sale to the public of
all or part of the Pledged Securities by reason of certain prohibitions in the Securities Act of 1933, as amended, or other federal
or state securities laws (collectively, the “Securities Laws”), and may be compelled to resort to one or more
sales to a restricted group of purchasers who may be required to agree to acquire the Pledged Securities for their own account,
for investment and not with a view to the distribution or resale thereof. Each Debtor agrees that sales so made may be at prices
and on terms less favorable than if the Pledged Securities were sold to the public, and that Secured Lenders have no obligation
to delay the sale of any Pledged Securities for the period of time necessary to register the Pledged Securities for sale to the
public under the Securities Laws. Each Debtor shall cooperate with Secured Lenders in their attempts to satisfy any requirements
under the Securities Laws (including, without limitation, registration thereunder if requested by Secured Lenders) applicable
to the sale of the Pledged Securities by Secured Lenders.

 

11. Costs
and Expenses. Each Debtor agrees to pay all documented fees, costs and expenses incurred in connection with any filing required
hereunder, including without limitation, any financing statements pursuant to the UCC, continuation statements, partial releases
and/or termination statements related thereto, or any expenses of any searches required by the Secured Lenders. The Debtors shall
also pay all other claims and charges which in the opinion of the Secured Lenders is likely to prejudice, imperil or otherwise
affect the Collateral or the Security Interests therein. The Debtors will also, upon demand, pay to the Secured Lenders the amount
of any and all reasonable expenses, including the documented fees and expenses of its counsel and of any experts and agents, which
the Secured Lenders, for the benefit of the Secured Lenders, may incur in connection with the creation, perfection, protection,
satisfaction, foreclosure, collection or enforcement of the Security Interest and the preparation, administration, continuance,
amendment or enforcement of this Agreement and pay to the Secured Lenders the amount of any and all reasonable expenses, including
the documented fees and expenses of its counsel and of any experts and agents, which the Secured Lenders, for the benefit of the
Secured Lenders, and the Secured Lenders may incur in connection with (i) the enforcement of this Agreement, (ii) the custody
or preservation of, or the sale of, collection from, or other realization upon, any of the Collateral, or (iii) the exercise or
enforcement of any of the rights of the Secured Lenders under the Transaction Documents. Until so paid, any fees payable hereunder
shall be added to the amounts owed under the Transaction Documents and shall bear interest at the Default Rate.

 

12. Responsibility
for Collateral. The Debtors assume all liabilities and responsibility in connection with all Collateral, and the Obligations
shall in no way be affected or diminished by reason of the loss, destruction, damage or theft of any of the Collateral or its
unavailability for any reason. Without limiting the generality of the foregoing and except as required by applicable law, (a)
neither the Secured Lenders nor any Secured Party (i) has any duty (either before or after an Event of Default) to collect any
amounts in respect of the Collateral or to preserve any rights relating to the Collateral, or (ii) has any obligation to clean-up
or otherwise prepare the Collateral for sale, and (b) each Debtor shall remain obligated and liable under each contract or agreement
included in the Collateral to be observed or performed by such Debtor thereunder. Neither the Secured Lenders nor any Secured
Party shall have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement
or the receipt by the Secured Lenders or any Secured Party of any payment relating to any of the Collateral, nor shall the Secured
Lenders or any Secured Party be obligated in any manner to perform any of the obligations of any Debtor under or pursuant to any
such contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Lenders or
any Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract
or agreement, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts
which may have been assigned to the Secured Lenders or to which the Secured Lenders or any Secured Party may be entitled at any
time or times.

 

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13. Security
Interests Absolute. All rights of the Secured Lenders and all obligations of each Debtor hereunder, shall be absolute and
unconditional, irrespective of: (a) any lack of validity or enforceability of this Agreement, the Securities, the Transaction
Documents, or any agreement entered into in connection with the foregoing, or any portion hereof or thereof, against any other
Debtor; (b) any change in the time, manner or place of payment or performance of, or in any other term of, all or any of the Obligations,
or any other amendment or waiver of or any consent to any departure from the Transaction Documents or any other agreement entered
into in connection with the foregoing; (c) any exchange, release or nonperfection of any of the Collateral, or any release or
amendment or waiver of or consent to departure from any other collateral for, or any guarantee, or any other security, for all
or any of the Obligations; (d) any action by the Secured Lenders to obtain, adjust, settle and cancel in its sole discretion any
insurance claims or matters made or arising in connection with the Collateral; or (e) any other circumstance which might otherwise
constitute any legal or equitable defense available to a Debtor, or a discharge of all or any part of the Security Interests granted
hereby. Until the Obligations shall have been paid and performed in full, the rights of the Secured Lenders shall continue even
if the Obligations are barred for any reason, including, without limitation, the running of the statute of limitations. Each Debtor
expressly waives presentment, protest, notice of protest, demand, notice of nonpayment and demand for performance. In the event
that at any time any transfer of any Collateral or any payment received by the Secured Lenders hereunder shall be deemed by final
order of a court of competent jurisdiction to have been a voidable preference or fraudulent conveyance under the bankruptcy or
insolvency laws of the United States, or shall be deemed to be otherwise due to any party other than the Secured Lenders, then,
in any such event, each Debtor’s obligations hereunder shall survive cancellation of this Agreement, and shall not be discharged
or satisfied by any prior payment thereof and/or cancellation of this Agreement, but shall remain a valid and binding obligation
enforceable in accordance with the terms and provisions hereof. Each Debtor waives all right to require the Secured Lenders to
proceed against any other person or entity or to apply any Collateral which the Secured Lenders may hold at any time, or to marshal
assets, or to pursue any other remedy. Each Debtor waives any defense arising by reason of the application of the statute of limitations
to any obligation secured hereby.

 

14. Term
of Agreement. This Agreement shall terminate on the date on which all payments under the Securities and the Transaction Documents
have been indefeasibly paid in full and all other Obligations have been paid or discharged; provided, however, that all indemnities
of the Debtors contained in this Agreement shall survive and remain operative and in full force and effect regardless of the termination
of this Agreement.

 

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15. Power
of Attorney; Further Assurances.

 

(a) Each
Debtor authorizes the Secured Lenders, and does hereby make, constitute and appoint the Secured Lenders and their officers, agents,
successors or assigns with full power of substitution, as such Debtor’s true and lawful attorney-in-fact, with power, in
the name of the Secured Lenders or such Debtor, to, after the occurrence and during the continuance of an Event of Default, (i)
endorse any note, checks, drafts, money orders or other instruments of payment (including payments payable under or in respect
of any policy of insurance) in respect of the Collateral that may come into possession of the Secured Lenders; (ii) to sign and
endorse any financing statement pursuant to the UCC or any invoice, freight or express bill, bill of lading, storage or warehouse
receipts, drafts against debtors, assignments, verifications and notices in connection with accounts, and other documents relating
to the Collateral; (iii) to pay or discharge taxes, liens, Security Interests or other encumbrances at any time levied or placed
on or threatened against the Collateral; (iv) to demand, collect, receipt for, compromise, settle and sue for monies due in respect
of the Collateral; (v) to transfer any Intellectual Property or provide licenses respecting any Intellectual Property; and (vi)
generally, at the option of the Secured Lenders, and at the expense of the Debtors, at any time, or from time to time, to execute
and deliver any and all documents and instruments and to do all acts and things which the Secured Lenders deem necessary to protect,
preserve and realize upon the Collateral and the Security Interests granted therein in order to effect the intent of this Agreement
and the Transaction Documents all as fully and effectually as the Debtors might or could do; and each Debtor hereby ratifies all
that said attorney shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest
and shall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding.
The designation set forth herein shall be deemed to amend and supersede any inconsistent provision in the Organizational Documents
or other documents or agreements to which any Debtor is subject or to which any Debtor is a party. Without limiting the generality
of the foregoing, after the occurrence and during the continuance of an Event of Default, the Secured Lenders are specifically
authorized to execute and file any applications for or instruments of transfer and assignment of any patents, trademarks, copyrights
or other Intellectual Property with the United States Patent and Trademark Office and the United States Copyright Office.

 

(b) On
a continuing basis, each Debtor will make, execute, acknowledge, deliver, file and record, as the case may be, with the proper
filing and recording agencies in any jurisdiction, including, without limitation, the jurisdictions indicated on Schedule C
attached hereto, all such instruments, and take all such action as may reasonably be deemed necessary or advisable, or as
reasonably requested by the Secured Lenders, to perfect the Security Interests granted hereunder and otherwise to carry out the
intent and purposes of this Agreement, or for assuring and confirming to the Secured Lenders the grant or perfection of a perfected
Security Interest in all the Collateral under the UCC.

 

(c) Each
Debtor hereby irrevocably appoints the Secured Lenders as such Debtor’s attorneys-in-fact, with full authority in the place
and instead of such Debtor and in the name of such Debtor, from time to time in the Secured Lenders’ discretion, to take
any action and to execute any instrument which the Secured Lenders may deem necessary or advisable to accomplish the purposes
of this Agreement, including the filing, in its sole discretion, of one or more financing or continuation statements and amendments
thereto, relative to any of the Collateral without the signature of such Debtor where permitted by law, which financing statements
may (but need not) describe the Collateral as “all assets” or “all personal property” or words of like
import, and ratifies all such actions taken by the Secured Lenders. This power of attorney is coupled with an interest and shall
be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding.

 

    21

    

    

 

16. Notices.
All notices, requests, demands and other communications hereunder shall be subject to the notice provision of the Purchase Agreement.

 

17. Other
Security. To the extent that the Obligations are now or hereafter secured by property other than the Collateral or by the
guarantee, endorsement or property of any other person, firm, corporation or other entity, then the Secured Lenders shall have
the right, in its sole discretion, to pursue, relinquish, subordinate, modify or take any other action with respect thereto, without
in any way modifying or affecting any of the Secured Lenders’ rights and remedies hereunder.

 

18. Appointment
of Agent. The Secured Lenders hereby appoint MEIF I, L.P. to
act as their Collateral Agent for purposes of exercising any and all rights and remedies of the Secured Lenders hereunder. Such
appointment shall continue until revoked in writing by a majority of the Secured Lenders, at which time the majority of the Secured
Lenders shall appoint a new Collateral Agent. The Agent shall have the rights, responsibilities and immunities set forth in Exhibit
C hereto.

 

19. Miscellaneous.

 

(a) No
course of dealing between the Debtors and the Secured Lenders, nor any failure to exercise, nor any delay in exercising, on the
part of the Secured Lenders, any right, power or privilege hereunder or under the Transaction Documents shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, power or privilege hereunder or thereunder preclude any other
or further exercise thereof or the exercise of any other right, power or privilege.

 

(b) All
of the rights and remedies of the Secured Lenders with respect to the Collateral, whether established hereby, the Securities or
the Transaction Documents or by any other agreements, instruments or documents or by law shall be cumulative and may be exercised
singly or concurrently.

 

(c) This
Agreement, together with the exhibits and schedules hereto, contains the entire understanding of the parties with respect to the
subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which
the parties acknowledge have been merged into this Agreement and the exhibits and schedules hereto. No provision of this Agreement
may be waived, modified, supplemented or amended except in a written instrument signed, in the case of an amendment, by the Debtors
and the Secured Lenders holding two-thirds (2/3rds) or more of the principal amount then issued and outstanding, or,
in the case of a waiver, by the party against whom enforcement of any such waived provision is sought.

 

(d) If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full
force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that
they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be
hereafter declared invalid, illegal, void or unenforceable.

 

    22

    

    

 

(e) No
waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing
waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof,
nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right.

 

(f) This
Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Debtors
may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Secured Lenders
(other than by merger). The Secured Lenders may assign any or all of its rights under this Agreement to any Person (as defined
in the Purchase Agreement) to whom such Secured Party assigns or transfers any Obligations, provided such transferee agrees in
writing to be bound, with respect to the transferred Obligations, by the provisions of this Agreement that apply to the “Secured
Lenders.”

 

(g) Each
party hereto shall take such further action and execute and deliver such further documents as may be necessary or appropriate
in order to carry out the provisions and purposes of this Agreement.

 

(h) Except
to the extent mandatorily governed by the jurisdiction or situs where the Collateral is located, all questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance
with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Except to the extent
mandatorily governed by the jurisdiction or situs where the Collateral is located, each Debtor agrees that all proceedings concerning
the interpretations, enforcement and defense of the transactions contemplated by this Agreement and the Transaction Documents
(whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees
or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York, Borough of Manhattan.
Except to the extent mandatorily governed by the jurisdiction or situs where the Collateral is located, each Debtor 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 proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such proceeding is improper. Each party hereto hereby irrevocably waives, to the fullest
extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby.

 

(i) This
Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and,
all of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature
is executed) the same with the same force and effect as if such facsimile signature were the original thereof.

 

    23

    

    

 

(j) All
Debtors shall jointly and severally be liable for the obligations of each Debtor to the Secured Lenders hereunder.

 

(k) Each
Debtor shall indemnify, reimburse and hold harmless the Secured Lenders and their respective partners, members, shareholders,
officers, directors, employees and agents (and any other persons with other titles that have similar functions) (collectively,
“Indemnitees”) from and against any and all losses, claims, liabilities, damages, penalties, suits, costs and
expenses, of any kind or nature, (including fees relating to the cost of investigating and defending any of the foregoing) imposed
on, incurred by or asserted against such Indemnitee in any way related to or arising from or alleged to arise from this Agreement
or the Collateral, except any such losses, claims, liabilities, damages, penalties, suits, costs and expenses which result from
the gross negligence or willful misconduct of the Indemnitee as determined by a final, nonappealable decision of a court of competent
jurisdiction. This indemnification provision is in addition to, and not in limitation of, any other indemnification provision
in the Purchase Agreement, the Transaction Documents, or any other agreement, instrument or other document executed or delivered
in connection herewith or therewith.

 

(l) Nothing
in this Agreement shall be construed to subject Secured Lenders or any Secured Party to liability as a partner in any

 

(m) Debtor
or any if its direct or indirect subsidiaries that is a partnership or as a member in any Debtor or any of its direct or indirect
subsidiaries that is a limited liability company, nor shall Secured Lenders or any Secured Party be deemed to have assumed any
obligations under any partnership agreement or limited liability company agreement, as applicable, of any such Debtor or any of
its direct or indirect subsidiaries or otherwise, unless and until any such Secured Party exercises its right to be substituted
for such Debtor as a partner or member, as applicable, pursuant hereto.

 

(n) To
the extent that the grant of the Security Interest in the Collateral and the enforcement of the terms hereof require the consent,
approval or action of any partner or member, as applicable, of any Debtor or any direct or indirect subsidiary of any Debtor or
compliance with any provisions of any of the Organizational Documents, the Debtors hereby represent that all such consents and
approvals have been obtained.

 

[SIGNATURE
PAGE OF DEBTORS FOLLOWS]

 

    24

    

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Security Agreement to be duly executed on the day and year first above
written.

 

	 	ATTIS INDUSTRIES INC., 

a New York corporation
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Chief Executive Officer
	 	 	 
	 	MOBILE SCIENCE TECHNOLOGIES, INC., 

a Georgia corporation
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Vice President
	 	 	 
	 	ATTIS ENVICARE MEDICAL WASTE, LLC, 

a Georgia limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	 	 
	 	ATTIS GENETICS, LLC, 

a Georgia limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 

 

    25

    

    

 

	 	ATTIS HEALTHCARE, LLC, 

a South Carolina limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	RED X MEDICAL LLC, 

a Georgia limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	INTEGRITY LAB SOLUTIONS, LLC, 

an Oklahoma limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	LGMG, LLC, 

an Oklahoma limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 

 

    26

    

    

 

	 	WELNESS BENEFITS, LLC, 

an Oklahoma limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager    
	 	 	 
	 	ATTIS COMMERCIAL LABS, LLC, 

an Oklahoma limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	ATTIS PHARMACEUTICALS, LLC,

 a Tennessee limited liability company
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager

 

    27

    

    

 

[SIGNATURE
PAGE OF COLLATERAL AGENT TO SECURITY AGREEMENT]

 

	 	MEF I, L.P., a Delaware limited partnership
	 	 	 
	 	By:	/s/ Ari Morris
	 	Name:	Ari Morris
	 	Title:	Portfolio Manager

 

[SIGNATURE
PAGES OF HOLDERS FOLLOW]

 

    28

    

    

 

[SIGNATURE
PAGE OF HOLDERS TO SECURITY AGREEMENT]

 

	Name of Secured Party:	MEF I, L.P.
	 	 
	Signature of Authorized Signatory of Secured Party:	/s/ Ari Morris
	 	 
	Name of Authorized Signatory:	Ari Morris
	 	 
	Title of Authorized Signatory:	Portfolio Manager

 

    29

    

    

 

[SIGNATURE
PAGE OF HOLDERS TO SECURITY AGREEMENT]

 

	Name of Secured Party:	Anson Investments Master Fund LP
	 	 
	Signature of Authorized Signatory of Secured Party:	/s/ Amin Nathoo
	 	 
	Name of Authorized Signatory:	Amin Nathoo
	 	 
	Title of Authorized Signatory:	Director, Anson Advisors Inc.

 

    30

    

    

 

 

[SIGNATURE
PAGE OF HOLDERS TO SECURITY AGREEMENT]

 

	Name of Secured Party:	Hudson Bay Master Fund Ltd.
	 	 
	Signature of Authorized Signatory of Secured Party:	/s/ Yoav Roth
	 	 
	Name of Authorized Signatory:	Yoav Roth
	 	 
	Title of Authorized Signatory:	Authorized Signatory, Hudson Bay Capital Management LP, not individually, but solely as Investment Advisor to Hudson Bay Master Fund Ltd.

 

    31

    

    

 

[SIGNATURE
PAGE OF HOLDERS TO SECURITY AGREEMENT]

 

	Name of Secured Party:	FirstFire Global Opportunities Fund LLC
	 	 
	Signature of Authorized Signatory of Secured Party:	/s/ Eli Fireman
	 	 
	Name of Authorized Signatory:	Eli Fireman
	 	 
	Title of Authorized Signatory:	Managing Partner

 

    32

    

    

 

EXHIBIT
A

 

FORM
OF SUBSIDIARY GUARANTEE

 

    33

    

    

 

SUBSIDIARY
GUARANTEE

 

This
SUBSIDIARY GUARANTEE, dated as of August 29, 2018 (this “Guarantee”), is made by each of the signatories hereto
(together with any other entity that may become a party hereto as provided herein, the “Guarantors”), in favor
of the holders (together with their permitted assigns, the “Purchasers”) of the 8% Senior Secured Convertible
Promissory Notes in the principal amount of $5,439,000.00 (the “Notes”) and the Warrants to Purchase Common
Stock (the “Warrants”) of Attis Industries Inc., a New York corporation (the “Company”).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement, dated as of the date hereof, by and between the Company and the Purchasers
(the “Purchase Agreement”), the Company has agreed to sell and issue to the Purchasers, and the Purchasers
have agreed to purchase from the Company the Notes and the Warrants, subject to the terms and conditions set forth therein.

 

NOW,
THEREFORE, in consideration of the premises and to induce the Purchasers to enter into the Purchase Agreement and to carry
out the transactions contemplated thereby, each Guarantor hereby agrees with the Purchasers as follows:

 

1.
Definitions. Unless otherwise defined herein, terms defined in the Purchase Agreement and used herein shall have the meanings
given to them in the Purchase Agreement. The words “hereof,” “herein,” “hereto” and “hereunder”
and words of similar import when used in this Guarantee shall refer to this Guarantee as a whole and not to any particular provision
of this Guarantee, and Section and Schedule references are to this Guarantee unless otherwise specified. The meanings given to
terms defined herein shall be equally applicable to both the singular and plural forms of such terms. The following terms shall
have the following meanings:

 

“Event
of Default” shall have the meaning ascribed to such term in the Note.

 

“Guarantee”
means this Subsidiary Guarantee, as the same may be amended, supplemented or otherwise modified from time to time.

 

“Holders”
shall have the meaning ascribed to such term in the Note.

 

“Material
Adverse Effect” shall have the meaning ascribed to such term in Section 3(a).

 

“Purchase
Agreement” shall have the meaning ascribed to such term in the Preamble.

 

    34

    

    

 

“Obligations”
means, in addition to all other costs and expenses of collection incurred by Purchasers in enforcing any of such Obligations and/or
this Guarantee, all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or
to become due, or that are now or may be hereafter contracted or acquired, or owing to, of the Company or any Guarantor to the
Purchasers, including, without limitation, all obligations under this Guarantee, the Notes, the Warrants, the other Transaction
Documents, and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith,
in each case, whether now or hereafter existing, voluntary or involuntary, direct or indirect, absolute or contingent, liquidated
or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later
increased, created or incurred, and all or any portion of such obligations or liabilities that are paid, to the extent all or
any part of such payment is avoided or recovered directly or indirectly from any of the Purchasers as a preference, fraudulent
transfer or otherwise as such obligations may be amended, supplemented, converted, extended or modified from time to time. Without
limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal
of, interest, and any other amounts owed on the Notes as set forth in the Notes; (ii) any and all obligations due under the Warrants;
(iii) any and all obligations due under the Transaction Documents; (iv) any and all other fees, indemnities, costs, obligations
and liabilities of the Company or any Guarantor from time to time under or in connection with this Guarantee, the Notes, the Warrants,
the other Transaction Documents, and any other instruments, agreements or other documents executed and/or delivered in connection
herewith or therewith; (v) all amounts (including but not limited to post-petition interest) in respect of the foregoing that
would be payable but for the fact that the obligations to pay such amounts are unenforceable or not allowable due to the existence
of a bankruptcy, reorganization or similar proceeding involving the Company or any Guarantor; and (vi) all foreign assets of the
Company or any Guarantor.

 

2.
Guarantee.

 

(a)
Guarantee.

 

(i)
The Guarantors hereby, jointly and severally, unconditionally and irrevocably, guarantee to the Purchasers and their respective
successors, indorsees, transferees and assigns, the prompt and complete payment and performance when due (whether at the stated
maturity, by acceleration or otherwise) of the Obligations.

 

(ii)
Anything herein or in the other Transaction Documents to the contrary notwithstanding, the maximum liability of each Guarantor
hereunder and under the other Transaction Documents shall in no event exceed the amount which can be guaranteed by such Guarantor
under applicable federal and state laws, including laws relating to the insolvency of debtors, fraudulent conveyance or transfer
or laws affecting the rights of creditors generally (after giving effect to the right of contribution established in Section
2(b)).

 

(iii)
Each Guarantor agrees that the Obligations may at any time and from time to time exceed the amount of the liability of such Guarantor
hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Purchasers
hereunder.

 

(iv)
The guarantee contained in this Section 2 shall remain in full force and effect until all the Obligations and the obligations
of each Guarantor under the guarantee contained in this Section 2 shall have been satisfied by indefeasible payment in
full.

 

    35

    

    

 

(v)
No payment made by the Company, any of the Guarantors, any other guarantor or any other Person or received or collected by the
Purchasers from the Company, any of the Guarantors, any other guarantor or any other Person by virtue of any action or proceeding
or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Obligations
shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding
any such payment (other than any payment made by such Guarantor in respect of the Obligations or any payment received or collected
from such Guarantor in respect of the Obligations), remain liable for the Obligations up to the maximum liability of such Guarantor
hereunder until the Obligations are indefeasibly paid in full.

 

(vi)
Notwithstanding anything to the contrary in this Guarantee, with respect to any defaulted non-monetary Obligations the specific
performance of which by the Guarantors is not reasonably possible (e.g. the issuance of the Company’s Common Stock), the
Guarantors shall only be liable for making the Purchasers whole on a monetary basis for the Company’s failure to perform
such Obligations in accordance with the Transaction Documents.

 

(b)
Right of Contribution. Subject to Section 2(c), each Guarantor hereby agrees that to the extent that a Guarantor
shall have paid more than its proportionate share of any payment made hereunder, such Guarantor shall be entitled to seek and
receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment.
Each Guarantor’s right of contribution shall be subject to the terms and conditions of Section 2(c). The provisions
of this Section 2(b) shall in no respect limit the obligations and liabilities of any Guarantor to the Purchasers and each
Guarantor shall remain liable to the Purchasers for the full amount guaranteed by such Guarantor hereunder.

 

(c)
No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any set-off or application of funds of any
Guarantor by the Purchasers, no Guarantor shall be entitled to be subrogated to any of the rights of the Purchasers against the
Company or any other Guarantor or any collateral security or guarantee or right of offset held by the Purchasers for the payment
of the Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Company or
any other Guarantor in respect of payments made by such Guarantor hereunder, until all amounts owing to the Purchasers by the
Company on account of the Obligations are indefeasibly paid in full. If any amount shall be paid to any Guarantor on account of
such subrogation rights at any time when all of the Obligations shall not have been paid in full, such amount shall be held by
such Guarantor in trust for the Purchasers, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by
such Guarantor, be turned over to the Purchasers in the exact form received by such Guarantor (duly indorsed by such Guarantor
to the Purchasers, if required), to be applied against the Obligations, whether matured or unmatured, in such order as the Purchasers
may determine.

 

    36

    

    

 

(d)
Amendments, Etc. With Respect to the Obligations. Each Guarantor shall remain obligated hereunder notwithstanding that,
without any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for
payment of any of the Obligations made by the Purchasers may be rescinded by the Purchasers and any of the Obligations continued,
and the Obligations, or the liability of any other Person upon or for any part thereof, or any collateral security or guarantee
therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended,
modified, accelerated, compromised, waived, surrendered or released by the Purchasers, and the Purchase Agreement and the other
Transaction Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented
or terminated, in whole or in part, as the Purchasers may deem advisable from time to time, and any collateral security, guarantee
or right of offset at any time held by the Purchasers for the payment of the Obligations may be sold, exchanged, waived, surrendered
or released. The Purchasers shall have no obligation to protect, secure, perfect or insure any Lien at any time held by them as
security for the Obligations or for the guarantee contained in this Section 2 or any property subject thereto.

 

(e)
Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the creation, renewal, extension or accrual
of any of the Obligations and notice of or proof of reliance by the Purchasers upon the guarantee contained in this Section
2 or acceptance of the guarantee contained in this Section 2; the Obligations, and any of them, shall conclusively
be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee
contained in this Section 2; and all dealings between the Company and any of the Guarantors, on the one hand, and the Purchasers,
on the other hand, likewise shall be conclusively presumed to have been had or consummated in reliance upon the guarantee contained
in this Section 2. Each Guarantor waives to the extent permitted by law diligence, presentment, protest, demand for payment
and notice of default or nonpayment to or upon the Company or any of the Guarantors with respect to the Obligations. Each Guarantor
understands and agrees that the guarantee contained in this Section 2 shall be construed as a continuing, absolute and
unconditional guarantee of payment and performance without regard to (a) the validity or enforceability of the Purchase Agreement
or any of the other Transaction Documents, any of the Obligations or any other collateral security therefor or guarantee or right
of offset with respect thereto at any time or from time to time held by the Purchasers, (b) any defense, set-off or counterclaim
(other than a defense of payment or performance or fraud by Purchasers) which may at any time be available to or be asserted by
the Company or any other Person against the Purchasers, or (c) any other circumstance whatsoever (with or without notice to or
knowledge of the Company or such Guarantor) which constitutes, or might be construed to constitute, an equitable or legal discharge
of the Company for the Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy
or in any other instance. When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any
Guarantor, the Purchasers may, but shall be under no obligation to, make a similar demand on or otherwise pursue such rights and
remedies as they may have against the Company, any other Guarantor or any other Person or against any collateral security or guarantee
for the Obligations or any right of offset with respect thereto, and any failure by the Purchasers to make any such demand, to
pursue such other rights or remedies or to collect any payments from the Company, any other Guarantor or any other Person or to
realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Company,
any other Guarantor or any other Person or any such collateral security, guarantee or right of offset, shall not relieve any Guarantor
of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or
available as a matter of law, of the Purchasers against any Guarantor. For the purposes hereof, “demand” shall include
the commencement and continuance of any legal proceedings.

 

    37

    

    

 

(f)
Reinstatement. The guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the
case may be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must otherwise be restored
or returned by the Purchasers upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Company or any
Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer
for, the Company or any Guarantor or any substantial part of its property, or otherwise, all as though such payments had not been
made.

 

(g)
Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the Purchasers without set-off or counterclaim
in U.S. dollars at the address set forth or referred to in the signature pages to the Purchase Agreement.

 

(h)
Payments and Obligations Subject to Intercreditor Agreement. Each Guarantor acknowledges and agrees that any and all payments
hereunder will be paid in accordance with the Intercreditor Agreement.

 

3.
Representations and Warranties. Each Guarantor hereby makes the following representations and warranties to Purchasers
as of the date hereof:

 

(a)
Organization and Qualification. The Guarantor is a entity duly incorporated, validly existing and in good standing under
the laws of the applicable jurisdiction set forth on Schedule 1, with the requisite power and authority to own and use
its properties and assets and to carry on its business as currently conducted. The Guarantor has no subsidiaries other than those
identified as such on the Disclosure Schedules to the Purchase Agreement. The Guarantor is duly qualified to do business and is
in good standing as a foreign entity in each jurisdiction in which the nature of the business conducted or property owned by it
makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could
not, individually or in the aggregate, (x) adversely affect the legality, validity or enforceability of any of this Guaranty in
any material respect, (y) have a material adverse effect on the results of operations, assets, prospects, or financial condition
of the Guarantor or (z) adversely impair in any material respect the Guarantor’s ability to perform fully on a timely basis
its obligations under this Guaranty (a “Material Adverse Effect”).

 

(b)
Authorization; Enforcement. The Guarantor has the requisite power and authority to enter into and to consummate the transactions
contemplated by this Guaranty, and otherwise to carry out its obligations hereunder. The execution and delivery of this Guaranty
by the Guarantor and the consummation by it of the transactions contemplated hereby have been duly authorized by all requisite
action on the part of the Guarantor. This Guaranty has been duly executed and delivered by the Guarantor and constitutes the valid
and binding obligation of the Guarantor enforceable against the Guarantor in accordance with its terms, except as such enforceability
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting
generally the enforcement of, creditors’ rights and remedies or by other equitable principles of general application.

 

    38

    

    

 

(c)
No Conflicts. The execution, delivery and performance of this Guaranty by the Guarantor and the consummation by the Guarantor
of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of its Certificate of
Incorporation, By-laws or formation documents, or (ii) conflict with, 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 Guarantor is a party that has not been waived, or (iii) result in a violation
of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority
to which the Guarantor is subject (including Federal and State securities laws and regulations), or by which any material property
or asset of the Guarantor is bound or affected that has not been waived, except in the case of each of clauses (ii) and (iii),
such conflicts, defaults, terminations, amendments, accelerations, cancellations and violations as could not, individually or
in the aggregate, have or result in a Material Adverse Effect. The business of the Guarantor is not being conducted in violation
of any law, ordinance or regulation of any governmental authority, except for violations which, individually or in the aggregate,
do not have a Material Adverse Effect.

 

(d)
Consents and Approvals. The Guarantor is not required to obtain any consent, waiver, authorization or order of, or make
any filing or registration with, any court or other federal, state, local, foreign or other governmental authority or other person
in connection with the execution, delivery and performance by the Guarantor of this Guaranty.

 

(e)
Purchase Agreement. The representations and warranties of the Company set forth in the Purchase Agreement as they relate
to such Guarantor, each of which is hereby incorporated herein by reference, are true and correct as of each time such representations
are deemed to be made pursuant to such Purchase Agreement, and the Purchasers shall be entitled to rely on each of them as if
they were fully set forth herein, provided that each reference in each such representation and warranty to the Company’s
knowledge shall, for the purposes of this Section 3, be deemed to be a reference to such Guarantor’s knowledge.

 

4.
Covenants.

 

(a)
Each Guarantor covenants and agrees with the Purchasers that, from and after the date of this Guarantee until the Obligations
shall have been indefeasibly paid in full, such Guarantor shall take, and/or shall refrain from taking, as the case may be, each
commercially reasonable action that is necessary to be taken or not taken, as the case may be, so that no Event of Default is
caused by the failure to take such action or to refrain from taking such action by such Guarantor.

 

(b)
So long as any of the Obligations are outstanding, unless the Holders shall otherwise consent in writing, each Guarantor will
not directly or indirectly on or after the date of this Guarantee:

 

		i.	enter
                                         into, create, incur, assume or suffer to exist any indebtedness for borrowed money of
                                         any kind, including but not limited to, a guarantee, 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, other than Permitted Indebtedness;

 

    39

    

    

 

		ii.	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, other than Permitted Liens;

 

		iii.	amend
                                         its certificate of incorporation, bylaws or other charter documents so as to adversely
                                         affect any rights of any Purchaser;

 

		iv.	repay,
                                         repurchase or offer to repay, repurchase or otherwise acquire more than a de minimis
                                         number of shares of its securities or debt obligations;

 

		v.	pay
                                         cash dividends on any equity securities of the Company;

 

		vi.	enter
                                         into any transaction with any Affiliate of the Guarantor which would be required to be
                                         disclosed in any public filing of the Company with the Commission, unless such transaction
                                         is made on an arm’s-length basis and expressly approved by a majority of the disinterested
                                         directors of the Company (even if less than a quorum otherwise required for board approval);
                                         or

 

		vii.	enter
                                         into any agreement with respect to any of the foregoing.

 

5.
Miscellaneous.

 

(a)
Amendments in Writing. None of the terms or provisions of this Guarantee may be waived, amended, supplemented or otherwise
modified except in writing by the Holders and the Company.

 

(b)
Notices. All notices, requests and demands to or upon the Company, the Guarantors or the Purchasers hereunder shall be
effected in the manner provided for in the Purchase Agreement, provided that any such notice, request or demand to or upon any
Guarantor shall be addressed to the Company at its notice address set forth Section 5.4 of the Purchase Agreement.

 

(c)
No Waiver By Course Of Conduct; Cumulative Remedies. The Purchasers shall not by any act (except by a written instrument
pursuant to Section 5(a)), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder
or to have acquiesced in any default under the Transaction Documents or Event of Default. No failure to exercise, nor any delay
in exercising, on the part of the Purchasers, any right, power or privilege hereunder shall operate as a waiver thereof. No single
or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise thereof or the exercise
of any other right, power or privilege. A waiver by the Purchasers of any right or remedy hereunder on any one occasion shall
not be construed as a bar to any right or remedy which the Purchasers would otherwise have on any future occasion. The rights
and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights
or remedies provided by law.

 

    40

    

    

 

(d)
Enforcement Expenses; Indemnification.

 

(i)
Each Guarantor agrees to pay, or reimburse the Purchasers for, all its costs and expenses incurred in collecting against such
Guarantor under the guarantee contained in Section 2 or otherwise enforcing or preserving any rights under this Guarantee
and the other Transaction Documents to which such Guarantor is a party, including, without limitation, the reasonable fees and
disbursements of counsel to the Purchasers.

 

(ii)
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities with respect to, or resulting
from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable in
connection with any of the transactions contemplated by this Guarantee.

 

(iii)
Each Guarantor agrees to pay, and to save the Purchasers harmless from, any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution,
delivery, enforcement, performance and administration of this Guarantee to the extent the Company would be required to do so pursuant
to the Purchase Agreement.

 

(iv)
The agreements in this Section shall survive repayment of the Obligations and all other amounts payable under the Purchase Agreement
and the other Transaction Documents.

 

(e)
Successor and Assigns. This Guarantee shall be binding upon the successors and assigns of each Guarantor and shall inure
to the benefit of the Purchasers and their respective successors and assigns; provided that no Guarantor may assign, transfer
or delegate any of its rights or obligations under this Guarantee without the prior written consent of the Purchasers.

 

(f)
Set-Off. Each Guarantor hereby irrevocably authorizes the Purchasers at any time and from time to time while an Event of
Default under any of the Transaction Documents shall have occurred and be continuing, without notice to such Guarantor or any
other Guarantor, any such notice being expressly waived by each Guarantor, to set-off and appropriate and apply any and all deposits,
credits, indebtedness or claims, in any currency, in each case whether direct or indirect, absolute or contingent, matured or
unmatured, at any time held or owing by the Purchasers to or for the credit or the account of such Guarantor, or any part thereof
in such amounts as the Purchasers may elect, against and on account of the obligations and liabilities of such Guarantor to the
Purchasers hereunder and claims of every nature and description of the Purchasers against such Guarantor, in any currency, whether
arising hereunder, under the Purchase Agreement, any other Transaction Document or otherwise, as the Purchasers may elect, whether
or not the Purchasers have made any demand for payment and although such obligations, liabilities and claims may be contingent
or unmatured. The Purchasers shall notify such Guarantor promptly of any such set-off and the application made by the Purchasers
of the proceeds thereof, provided that the failure to give such notice shall not affect the validity of such set-off and application.
The rights of the Purchasers under this Section are in addition to other rights and remedies (including, without limitation, other
rights of set-off) which the Purchasers may have.

 

    41

    

    

 

(g)
Counterparts. This Guarantee may be executed by one or more of the parties to this Guarantee on any number of separate
counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same
instrument.

 

(h)
Severability. Any provision of this Guarantee which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdiction.

 

(i)
Section Headings. The Section headings used in this Guarantee are for convenience of reference only and are not to affect
the construction hereof or be taken into consideration in the interpretation hereof.

 

(j)
Integration. This Guarantee and the other Transaction Documents represent the agreement of the Guarantors and the Purchasers
with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties
by the Purchasers relative to subject matter hereof and thereof not expressly set forth or referred to herein or in the other
Transaction Documents.

 

(k)
Governing Laws. All questions concerning the construction, validity, enforcement and interpretation of this Guarantee shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflicts of law thereof. Each of the Company and the Guarantors agree that all proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Guarantee (whether brought against a party hereto or its respective
affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state
and federal courts sitting in the City of New York, Borough of Manhattan. Each of the Company and the Guarantors 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 proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such proceeding is improper. Each party hereto hereby irrevocably waives personal service
of process and consents to process being served in any such proceeding by mailing a copy thereof via registered or certified mail
or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Guarantee
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 hereto hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising
out of or relating to this Guarantee or the transactions contemplated hereby.

 

(l)
Acknowledgements. Each Guarantor hereby acknowledges that:

 

(i)
it has been advised by counsel in the negotiation, execution and delivery of this Guarantee and the other Transaction Documents
to which it is a party;

 

    42

    

    

 

(ii)
the Purchasers have no fiduciary relationship with or duty to any Guarantor arising out of or in connection with this Guarantee
or any of the other Transaction Documents, and the relationship between the Guarantors, on the one hand, and the Purchasers, on
the other hand, in connection herewith or therewith is solely that of debtor and creditor; and

 

(iii)
no joint venture is created hereby or by the other Transaction Documents or otherwise exists by virtue of the transactions contemplated
hereby among the Guarantors and the Purchasers.

 

(m)
Additional Guarantors. The Company shall cause each of its subsidiaries formed or acquired on or subsequent to the date
hereof to become a Guarantor for all purposes of this Guarantee by executing and delivering an Assumption Agreement in the form
of Annex 1 hereto.

 

(n)
Release of Guarantors. Each Guarantor will be released from all liability hereunder concurrently with the indefeasible
repayment in full of all amounts owed under the Purchase Agreement, the Notes and the other Transaction Documents.

 

(o)
Seniority. The Obligations of each of the Guarantors hereunder rank senior in priority to any other Indebtedness of such
Guarantor.

 

(p)
Waiver of Jury Trial. EACH GUARANTOR AND, BY ACCEPTANCE OF THE BENEFITS HEREOF, THE PURCHASERS, HEREBY IRREVOCABLY AND
UNCONDITIONALLY WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS GUARANTEE AND FOR ANY COUNTERCLAIM THEREIN.

 

[SIGNATURE
PAGES FOLLOW]

 

    43

    

    

IN
WITNESS WHEREOF, each of the undersigned has caused this Guarantee to be duly executed and delivered as of the date first
above written.

 

	 	MOBILE SCIENCE TECHNOLOGIES, INC., a Georgia corporation
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Vice President
	 	 	 
	 	ATTIS ENVICARE MEDICAL WASTE, LLC, a Georgia limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	ATTIS GENETICS, LLC, a Georgia limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	ATTIS HEALTHCARE, LLC, a South Carolina limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 

 

[Signature
Page to Attis Industries Inc. Subsidiary Guarantee]

 

    

    

    

 

	 	RED X MEDICAL LLC, a Georgia limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	INTEGRITY LAB SOLUTIONS, LLC, an Oklahoma limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	LGMG, LLC, an Oklahoma limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	WELNESS BENEFITS, LLC, an Oklahoma limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	ATTIS COMMERCIAL LABS, LLC, an Oklahoma limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager
	 	 	 
	 	ATTIS PHARMACEUTICALS, LLC, a Tennessee limited liability company
	 	 	 
	 	By:	 
	 	Name:	Jeffrey S. Cosman
	 	Title:	Manager

 

[Signature
Page to Attis Industries Inc. Subsidiary Guarantee]

 

    

    

    

 

SCHEDULE
1

 

GUARANTORS

 

The
following are the names and jurisdictions of organization of each Guarantor:

 

	 	 	Entity	 	Jurisdiction of Organization or Incorporation
	1.	 	Mobile Science Technologies, Inc.	 	Georgia
	2.	 	Attis EnviCare Medical Waste, LLC	 	Georgia
	3.	 	Attis Genetics, LLC	 	Georgia
	4.	 	Attis Healthcare, LLC	 	South Carolina
	5.	 	Red X Medical LLC	 	Georgia
	6.	 	Integrity Lab Solutions, LLC	 	Oklahoma
	7.	 	LGMG, LLC	 	Oklahoma
	8.	 	WelNess Benefits, LLC (70% owned by LGMG, LLC)	 	Oklahoma
	9.	 	Attis Commercial Labs, LLC	 	Oklahoma
	10.	 	Attis Pharmaceuticals, LLC	 	Tennessee

 

    

    

    

 

ANNEX
A

 

SUBSIDIARY
GUARANTEE

 

This
ASSUMPTION AGREEMENT, dated as of __________, 20__ made by ______________________________ (the “Additional Guarantor”),
in favor of the Purchasers pursuant to the Purchase Agreement referred to below. All capitalized terms not defined herein shall
have the meaning ascribed to them in such Purchase Agreement.

 

W
I T N E S S E T H :

 

WHEREAS,
Attis Industries Inc., a New York corporation (the “Company”) and the Purchasers have entered into a Securities
Purchase Agreement, dated as of August 29, 2018, (as amended, supplemented or otherwise modified from time to time, the “Purchase
Agreement”);

 

WHEREAS,
in connection with the Purchase Agreement, the Subsidiaries of the Company (other than the Additional Guarantor) have entered
into the Subsidiary Guarantee, dated as of August 29, 2018 (as amended, supplemented or otherwise modified from time to time,
the “Guarantee”) in favor of the Purchasers;

 

WHEREAS,
the Purchase Agreement requires the Additional Guarantor to become a party to the Guarantee; and

 

WHEREAS,
the Additional Guarantor has agreed to execute and deliver this Assumption Agreement in order to become a party to the Guarantee;

 

NOW,
THEREFORE, IT IS AGREED:

 

1.
Guarantee. By executing and delivering this Assumption Agreement, the Additional Guarantor, as provided in Section 5(m)
of the Guarantee, hereby becomes a party to the Guarantee as a Guarantor thereunder with the same force and effect as if originally
named therein as a Guarantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and
liabilities of a Guarantor thereunder. The information set forth in Annex 1 hereto is hereby added to the information set
forth in Schedule 1 to the Guarantee. The Additional Guarantor hereby represents and warrants that each of the representations
and warranties contained in Section 3 of the Guarantee is true and correct on and as the date hereof as to such Additional
Guarantor (after giving effect to this Assumption Agreement) as if made on and as of such date.

 

2.
Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK.

 

[SIGNATURE
PAGE FOLLOWS]

 

[Signature
Page to Attis Industries Inc. Subsidiary Guarantee]

 

    

    

    

 

IN
WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first
above written.

 

	 	[ADDITIONALGUARANTOR]
	 	 	 
	 	By:	                                    
	 	Name:	 
	 	Title:	 

  

[Signature
Page to Attis Industries Inc. Subsidiary Guarantee]

 

    

    

    

 

EXHIBIT
B

 

FORM
OF ADDITIONAL DEBTOR JOINDER

 

Reference
is hereby made to the Security Agreement, dated as of August 29, 2018, made by and among Attis Industries Inc., a New York corporation,
and its subsidiaries party thereto from time to time, as Debtors to and in favor of the Secured Lenders identified therein (the
“Security Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings
given to such terms in, or by reference in, the Security Agreement.

 

The
undersigned hereby agrees that, upon delivery of this Additional Debtor Joinder to the Secured Lenders referred to above, the
undersigned shall (a) be an Additional Debtor under the Security Agreement, (b) have all the rights and obligations of the Debtors
under the Security Agreement as fully and to the same extent as if the undersigned was an original signatory thereto, and (c)
be deemed to have made the representations and warranties set forth therein as of the date of execution and delivery of this Additional
Debtor Joinder. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE UNDERSIGNED SPECIFICALLY GRANTS TO THE SECURED LENDERS A
SECURITY INTEREST IN THE COLLATERAL AS MORE FULLY SET FORTH IN THE SECURITY AGREEMENT AND ACKNOWLEDGES AND AGREES TO THE WAIVER
OF JURY TRIAL PROVISIONS SET FORTH THEREIN.

 

Attached
hereto are supplemental and/or replacement Schedules to the Security Agreement, as applicable.

 

An
executed copy of this Joinder shall be delivered to the Secured Lenders, and the Secured Lenders may rely on the matters set forth
herein on or after the date hereof. This Joinder shall not be modified, amended or terminated without the prior written consent
of the Secured Lenders

 

IN
WITNESS WHEREOF, the undersigned has caused this Joinder to be executed in the name and on behalf of the undersigned.

 

	 	[Name of Additional Debtor]
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:	 
	 	 	 
	 	Address:	 
	 	 	 
	 	Dated:	 

 

    

    

    

 

EXHIBIT
C

 

THE
AGENT

 

1.
Appointment. The Secured Lenders (all capitalized terms used herein and not otherwise defined shall have the respective
meanings provided in the Security Agreement to which this Exhibit C is attached (the “Agreement”)),
by their acceptance of the benefits of the Agreement, hereby designate MEF I, L.P., a Delaware limited partnership (the “Collateral
Agent”) as the Collateral Agent to act as specified herein and in the Agreement. Each Secured Lender shall be deemed
irrevocably to authorize the Collateral Agent to take such action on its behalf under the provisions of the Agreement and any
other Transaction Documents and to exercise such powers and to perform such duties hereunder and thereunder as are specifically
delegated to or required of the Collateral Agent by the terms hereof and thereof and such other powers as are reasonably incidental
thereto. The Agent may perform any of its duties hereunder by or through its agents or employees.

 

2.
Nature of Duties. The Collateral Agent shall have no duties or responsibilities except those expressly set forth
in the Agreement. Neither the Collateral Agent nor any of its partners, members, shareholders, officers, directors, employees
or agents shall be liable for any action taken or omitted by it as such under the Agreement or hereunder or in connection herewith
or therewith, be responsible for the consequence of any oversight or error of judgment or answerable for any loss, unless caused
solely by its or their gross negligence or willful misconduct as determined by a final judgment (not subject to further appeal)
of a court of competent jurisdiction. The duties of the Collateral Agent shall be mechanical and administrative in nature; the
Collateral Agent shall not have by reason of the Agreement or any other Transaction Documents a fiduciary relationship in respect
of any Debtor or any Secured Lender; and nothing in the Agreement or any other Transaction Document, expressed or implied, is
intended to or shall be so construed as to impose upon the Collateral Agent any obligations in respect of the Agreement or any
other Transaction Document except as expressly set forth herein and therein.

 

3.
Lack of Reliance on the Collateral Agent. Independently and without reliance upon the Collateral Agent, each Secured Lender,
to the extent it deems appropriate, has made and shall continue to make (i) its own independent investigation of the financial
condition and affairs of the Company and its subsidiaries in connection with such Secured Lenders’ investments in the Debtors,
the creation and continuance of the Obligations, the transactions contemplated by the other Transaction Documents, and the taking
or not taking of any action in connection therewith, and (ii) its own appraisal of the creditworthiness of the Company and its
subsidiaries, and of the value of the Collateral from time to time, and the Collateral Agent shall have no duty or responsibility,
either initially or on a continuing basis, to provide any Secured Lenders with any credit, market or other information with respect
thereto, whether coming into its possession before any Obligations are incurred or at any time or times thereafter. The Collateral
Agent shall not be responsible to the Debtors or any Secured Lenders for any recitals, statements, information, representations
or warranties herein or in any document, certificate or other writing delivered in connection herewith, or for the execution,
effectiveness, genuineness, validity, enforceability, perfection, collectibility, priority or sufficiency of the Agreement or
any other Transaction Document, or for the financial condition of the Debtors or the value of any of the Collateral, or be required
to make any inquiry concerning either the performance or observance of any of the terms, provisions or conditions of the Agreement
or any other Transaction Document, or the financial condition of the Debtors, or the value of any of the Collateral, or the existence
or possible existence of any default or Event of Default under the Agreement, the Notes or any of the other Transaction Documents.

 

    

    

    

 

4.
Certain Rights of the Collateral Agent. The Collateral Agent shall have the right to take any action with respect to the
Collateral, on behalf of all of the Secured Parties. To the extent practical, the Collateral Agent shall request instructions
from the Secured Parties with respect to any material act or action (including failure to act) in connection with the Agreement
or any other Transaction Document, and shall be entitled to act or refrain from acting in accordance with the instructions of
a Majority in Interest; if such instructions are not provided despite the Collateral Agent’s request therefor, the Collateral
Agent shall be entitled to refrain from such act or taking such action, and if such action is taken, shall be entitled to appropriate
indemnification from the Secured Parties in respect of actions to be taken by the Collateral Agent; and the Collateral Agent shall
not incur liability to any person or entity by reason of so refraining. Without limiting the foregoing, (a) no Secured Lenders
shall have any right of action whatsoever against the Collateral Agent as a result of the Collateral Agent acting or refraining
from acting hereunder in accordance with the terms of the Agreement or any other Transaction Document, and the Debtors shall have
no right to question or challenge the authority of, or the instructions given to, the Collateral Agent pursuant to the foregoing,
and (b) the Collateral Agent shall not be required to take any action which the Collateral Agent believes (i) could reasonably
be expected to expose it to personal liability, or (ii) is contrary to this Agreement, the other Transaction Documents or applicable
law.

 

5.
Reliance. The Collateral Agent shall be entitled to rely, and shall be fully protected in relying, upon any writing, resolution,
notice, statement, certificate, telex, teletype or telecopier message, cablegram, radiogram, order or other document or telephone
message signed, sent or made by the proper person or entity, and, with respect to all legal matters pertaining to the Agreement
and the other Transaction Documents and its duties thereunder, upon advice of counsel selected by it and upon all other matters
pertaining to this Agreement and the other Transaction Documents and its duties thereunder, upon advice of other experts selected
by it. Anything to the contrary notwithstanding, the Collateral Agent shall have no obligation whatsoever to any Secured Lenders
to assure that the Collateral exists or is owned by the Debtors or is cared for, protected or insured or that the liens granted
pursuant to the Agreement have been properly or sufficiently or lawfully created, perfected, or enforced or are entitled to any
particular priority.

 

6.
Indemnification. To the extent that the Collateral Agent is not reimbursed and indemnified by the Debtors, the Secured
Parties will jointly and severally reimburse and indemnify the Collateral Agent, in proportion to their initially purchased respective
principal amounts of Notes, from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements of any kind or nature whatsoever which may be imposed on, incurred by or asserted against
the Collateral Agent in performing its duties hereunder or under the Agreement or any other Transaction Document, or in any way
relating to or arising out of the Agreement or any other Transaction Document except for those determined by a final judgment
(not subject to further appeal) of a court of competent jurisdiction to have resulted solely from the Collateral Agent’s
own gross negligence or willful misconduct. Prior to taking any action hereunder as Collateral Agent, the Collateral Agent may
require each Secured Lender to deposit with it sufficient sums as it determines in good faith is necessary to protect the Collateral
Agent for costs and expenses associated with taking such action.

 

    

    

    

 

7.
Resignation by the Collateral Agent.

 

(a)
The Collateral Agent may resign from the performance of all its functions and duties under the Agreement and the other Transaction
Documents at any time by giving 30 days’ prior written notice (as provided in the Agreement) to the Debtors and the Secured
Parties. Such resignation shall take effect upon the appointment of a successor Collateral Agent pursuant to clauses (b) and (c)
below.

 

(b)
Upon any such notice of resignation, the Secured Parties, acting by a Majority in Interest, shall appoint a successor Collateral
Agent hereunder.

 

(c)
If a successor Collateral Agent shall not have been so appointed within said 30-day period, the Collateral Agent shall then appoint
a successor Collateral Agent who shall serve as Collateral Agent until such time, if any, as the Secured Parties appoint a successor
Collateral Agent as provided above. If a successor Collateral Agent has not been appointed within such 30-day period, the Collateral
Agent may petition any court of competent jurisdiction or may interplead the Debtors and the Secured Parties in a proceeding for
the appointment of a successor Collateral Agent, and all fees, including, but not limited to, extraordinary fees associated with
the filing of interpleader and expenses associated therewith, shall be payable by the Debtors on demand.

 

8.
Rights with respect to Collateral. Each Secured Lender agrees with all other Secured Parties and the Collateral
Agent (i) that it shall not, and shall not attempt to, exercise any rights with respect to its Security Interest in the Collateral,
whether pursuant to any other agreement or otherwise (other than pursuant to this Agreement), or take or institute any action
against the Collateral Agent or any of the other Secured Parties in respect of the Collateral or its rights hereunder (other than
any such action arising from the breach of this Agreement), and (ii) that such Secured Lenders have no other rights with respect
to the Collateral other than as set forth in this Agreement and the other Transaction Documents. Upon the acceptance of any appointment
as Collateral Agent hereunder by a successor Collateral Agent, such successor Collateral Agent shall thereupon succeed to and
become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent and the retiring Collateral
Agent shall be discharged from its duties and obligations under the Agreement. After any retiring Collateral Agent’s resignation
or removal hereunder as Collateral Agent, the provisions of the Agreement including this Exhibit C shall inure to its benefit
as to any actions taken or omitted to be taken by it while it was Collateral Agent.Exhibit 10.3

EXECUTION VERSION

 

INTELLECTUAL
PROPERTY SECURITY AGREEMENT

 

This INTELLECTUAL PROPERTY
SECURITY AGREEMENT (this “Agreement”), dated as of August 29, 2018, by Attis Industries Inc., a New York corporation
(the “Grantor”), in favor of MEF I, L.P., a Delaware limited partnership, FirstFire Global Opportunities Fund
LLC, a Delaware limited liability company, Hudson Bay Master Fund Ltd., an entity formed in the Cayman Islands and Anson Investments
Master Fund LP, an entity formed in the Cayman Islands as secured lenders (collectively, the “Secured Lenders”).

 

WHEREAS:

 

A. Reference
is made to that certain Security Agreement, dated as of August 29, 2018 (the “Security Agreement”), entered
into by and among the Grantor, the other Debtors (as defined in the Security Agreement) as parties thereto, and the Secured Lenders,
which secures certain now existing and future arising obligations owing to the Secured Lenders under the Transaction Documents
(as defined in the Purchase Agreement (as defined below)), as provided in the Security Agreement;

 

B. Pursuant
to the Security Agreement and that certain Securities Purchase Agreement (the “Purchase Agreement”), entered
into between the Grantor and Secured Lenders, the Grantor is required to execute and deliver to the Secured Lenders this Agreement;

 

C. Pursuant
to the terms of the Security Agreement, the Grantor has granted to the Secured Lenders, a security interest in substantially all
the assets of the Grantor, including all right, title and interest of the Grantor in, the IP Collateral (as defined below); and

 

D. Capitalized
terms used and not otherwise defined herein that are defined in the Security Agreement or the Purchase Agreement shall have the
meanings given such terms in the Security Agreement or the Purchase Agreement.

 

NOW, THEREFORE, in
consideration of the mutual agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Grantor hereby grants to the Secured Lenders, to secure the Obligations (as defined in the Security
Agreement), a continuing security interest in all of the Grantor’s right, title and interest in, to and under the following,
whether presently existing or hereafter created or acquired:

 

1. Each
United States and foreign trademark and trademark application, including, without limitation, each United States federally registered
trademark and trademark application referred to in Schedule 1 annexed hereto, together with any reissues, continuations
or extensions thereof and all goodwill associated therewith;

 

2. Each
trademark license, including, without limitation, each trademark license listed on Schedule 1 annexed hereto, together with
all goodwill associated therewith;

 

3. All
products and proceeds of the foregoing items 1 through 2, including, without limitation, any claim by the Grantor against third
parties for past, present or future infringement, misappropriation, dilution, violation or other impairment of any trademark, including,
without limitation, any trademark referred to in Schedule 1 annexed hereto, any trademark issued pursuant to a trademark
application referred to in Schedule 1 and any trademark licensed under any trademark license listed on Schedule 1
annexed hereto (items 1 through 3 being herein collectively referred to as the “Trademark Collateral”);

 

    

    

    

 

4. Each
United States and foreign patent and patent application, including, without limitation, each United States federally registered
patent and patent application referred to in Schedule 2 annexed hereto, together with any reissues, continuations or extensions
thereof and all goodwill associated therewith;

 

5. Each
patent license, including, without limitation, each patent license listed on Schedule 2 annexed hereto, together with all
goodwill associated therewith;

 

6. All
income, royalties, proceeds and liabilities of the foregoing items 4 through 5, including, without limitation, any claim by the
Grantor against third parties for past, present or future infringement, misappropriation, dilution, violation or other impairment
of any patent, including, without limitation, any patent referred to in Schedule 2 annexed hereto, any patent issued pursuant
to a patent application referred to in Schedule 2 and any patent licensed under any patent license listed on Schedule
2 annexed hereto (items 4 through 6 being herein collectively referred to as the “Patent Collateral”);

 

7. If
applicable, each United States and foreign copyright and copyright application, including, without limitation, each United States
federally registered copyright and copyright application referred to in Schedule 3 annexed hereto, together with any renewals,
reversions or extensions thereof and all goodwill associated therewith;

 

8. If
applicable, each copyright license, including, without limitation, each copyright license listed on Schedule 3 annexed hereto,
together with all goodwill associated therewith; and

 

9. All
products and proceeds of the foregoing items 7 through 8, including, without limitation, any claim by the Grantor against third
parties for past, present or future infringement, misappropriation, dilution, violation or other impairment of any copyright, including,
without limitation, any copyright referred to in Schedule 3 annexed hereto, any copyright issued pursuant to a copyright
application referred to in Schedule 3 and any copyright licensed under any copyright license listed on Schedule 3
annexed hereto (items 7 through 9 being herein collectively referred to as the “Copyright
Collateral”; items 1 through 9 being herein (i.e., the Trademark Collateral, the Patent Collateral, and the Copyright
Collateral) collectively referred to as the “IP Collateral”).

 

The security interests
granted under this Agreement are granted in conjunction with the security interests granted to the Secured Lenders, pursuant to
the Security Agreement and the other Transaction Documents. The Grantor hereby acknowledges and affirms that the rights and remedies
of the Secured Lenders with respect to the security interest in the IP Collateral made and granted hereby are more fully set forth
in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein.
Capitalized terms used but not defined herein have the respective meanings ascribed thereto in the Transaction Documents.

 

    	 	2	 

     

    

 

Grantor shall give Secured
Lenders prior written notice of no less than five (5) Business Days before filing any additional application for registration of
any trademark and prompt notice in writing of any additional trademark registrations, patent registration, or copyright registrations
granted therefor after the date hereof. Without limiting Grantor’s obligations under this paragraph, Grantor hereby authorizes
Secured Lenders unilaterally to modify this Agreement by amending Schedules 1, 2, or 3 to include any future United States
registered trademarks, patents, copyrights or applications therefor of Grantor, provided that Secured Lenders notifies Grantor
in writing no more than five (5) Business Days following such amendment. Notwithstanding the foregoing, no failure to so modify
this Agreement or amend Schedules 1, 2, or 3 shall in any way affect, invalidate or detract from Secured Lenders’
continuing security interests in all Collateral, whether or not listed on Schedule 1, 2, or 3.

 

Grantor hereby agrees
that, anything herein to the contrary notwithstanding, such Grantor shall assume full and complete responsibility for the prosecution,
defense, enforcement or any other necessary or desirable actions in connection with their trademarks subject to the security interest
hereunder.

 

This Agreement may be
executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall
be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages may be
detached from multiple separate counterparts and attached to a single counterpart.

 

This Agreement is a
Transaction Document. All notices, requests, demands and other communications hereunder shall be subject to the notice provision
of the Purchase Agreement.

 

This Agreement shall
be construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance
of this Agreement and all disputes arising hereunder shall be governed by, the 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. The parties hereto (a) agree that any
legal action or proceeding with respect to this Agreement or any other agreement, document, or other instrument executed in connection
herewith or therewith, shall be brought in any state or federal court located within the City of New York, New York, (b) irrevocably
waive any objections which either may now or hereafter have to the venue of any suit, action or proceeding arising out of or relating
to this Agreement, or any other agreement, document, or other instrument executed in connection herewith, brought in the aforementioned
courts and (c) further irrevocably waive any claim that any such suit, action, or proceeding brought in any such court has been
brought in an inconvenient forum.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	3	 

     

    

 

IN WITNESS WHEREOF,
the Grantor has caused this Intellectual Property Security Agreement to be duly executed by its duly authorized officer thereunto
as of the date first set forth above.

 

	 	ATTIS INDUSTRIES INC.,
	 	a New York corporation
	 	 	 
	 	By:	/s/ Jeffrey S. Cosman
	 	Name: 	Jeffrey S. Cosman
	 	Title:	Chief Executive Officer

 

[Signature
Page to Attis Industries Inc. Intellectual Property Security Agreement]

 

     

     

    

  

	Acknowledged:	 
	 	 
	MEF I, L.P.,	 
	a Delaware limited partnership, as Secured Lender	 
	 	 	 
	By:	/s/ Ari Morris	 
	Name: 	Ari Morris	 
	Title: 	Portfolio Manager	 

 

[Signature
Page to Attis Industries Inc. Intellectual Property Security Agreement]

 

     

     

    

 

 

	Acknowledged: 	 
	 	 	 
	Firstfire Global Opportunities Fund LLC,	 
	a Delaware limited liability company, as Secured Lender	 
	 	 	 
	By:	/s/ Eli Fireman	 
	Name: 	Eli Fireman	 
	Title: 	Managing Partner	 

 

[Signature
Page to Attis Industries Inc. Intellectual Property Security Agreement]

 

     

     

    

 

	
        Acknowledged:

         
	 
	 	 
	Hudson Bay Master Fund Ltd., 	 
	an entity formed in the Cayman Islands, as Secured Lender	 
	 	 	 
	By:	/s/ Yoav Roth	 
	Name: 	Yoav Roth	 
	Title: 	Authorized Signatory	 
	 	Hudson Bay Capital Management LP not individually, but solely as Investment Advisor to Hudson Bay Master Fund Ltd.	 

 

[Signature
Page to Attis Industries Inc. Intellectual Property Security Agreement]

 

     

     

    

 

	Acknowledged: 	 
	 	 
	Anson Investments Master Fund LP,	 
	an entity formed in the Cayman Islands, as Secured Lender	 
	 	 	 
	By:	/s/ Amin Nathoo	 
	Name:  	Amin Nathoo	 
	Title: 	Director, Anson Advisors Inc.	 

 

[Signature
Page to Attis Industries Inc. Intellectual Property Security Agreement]

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