Document:

Exhibit 10.27

 

AMEMDED AND RESTATED REGISTRATION RIGHTS
AGREEMENT 

 

THIS AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of April 1, 2016, by and among Atomera Incorporated,
a Delaware corporation (“Company”), and the persons listed on Schedule A hereto, which persons are the holders
of certain warrants (the “Warrants”) to purchase Common Stock, issued by the Company in connection with certain
offerings of convertible notes and the provision of strategic advisory services, referred to individually as the “Holder”
and collectively as the “Holders”.

 

A.           In connection with
an offering of secured convertible notes consummated in March 2015 and the provision of strategic advisory services, the Holders
have received Warrants (the “2015 Warrants”), which are exercisable for Common Stock in accordance with the
terms thereof.

 

B.           In connection with
the foregoing, the Company (f/k/a Mears Technologies, Inc.), pursuant to this registration rights agreement, originally dated March
17, 2015 (the “2015 Registration Rights Agreement”), by and between the Company and the Holders, provided to
the Holders and their assignees or successors in interest, certain rights to provide for the registration for resale of their shares
of Common Stock acquired by the Holders or issuable to the Holders and their assignees or successors in interest upon proper exercise
of the 2015 Warrants.

 

C.           In connection with
an offering of secured convertible notes consummated on the date hereof, one of the Holders has received additional Warrants (the
“2016 Warrants”).

 

D.          The Company and the
Holders now wish to amend and restate the 2015 Registration Rights Agreement to include as registrable securities the shares of
Common Stock issuable upon exercise of the 2016 Warrants. Accordingly, for purposes of this Agreement, the term “Registrable
Securities” shall mean the shares of Common Stock acquired by the Holders or issuable to the Holders and their assignees
or successors in interest upon proper exercise of both the 2015 Warrants and the 2016 Warrants.

 

E.           Unless otherwise
provided in this Agreement, capitalized terms used herein shall have the respective meanings set forth in Section 13 hereof.

 

NOW, THEREFORE,
in consideration of the above premises and the mutual covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company and Holder hereby agree as follows:

 

1.           Registration.

 

(a)          Piggyback Registrations
Rights. If, at any time after the Company shall become subject to the periodic reporting obligations (a “Reporting
Company”) under the Securities Exchange Act through the date that is five years after the date the Company becomes a
Reporting Company, there is not an effective Registration Statement covering the Registrable Securities and the Company shall determine
to prepare and file with the Commission a Registration Statement relating to an offering for its own account or the account of
others under the Securities Act of any of its equity securities (other than on Form S-4 or Form S-8, each as promulgated under
the Securities Act, or their then equivalent relating to equity securities to be issued solely in connection with any acquisition
of any entity or business or equity securities issuable in connection with stock option or other employee benefit plans), then
the Company shall send to the Holders a written notice of such determination at least twenty (20) days prior to the filing of any
such Registration Statement and shall include in such Registration Statement all Registrable Securities requested by any Holder
hereunder to be included in the registration within ten (10) days after the Company sends such notice to the Holders (the “Piggyback
Shares”) for resale and offer on a continuous basis pursuant to Rule 415; provided, that (i) if, at any time after giving
written notice of its intention to register any securities and prior to the effective date of the Registration Statement filed
in connection with such registration, the Company determines for any reason not to proceed with or terminate such registration,
the Company will be relieved of its obligation to register any Registrable Securities in connection with such registration, (ii)
in case of a determination by the Company to delay registration of its securities, the Company will be permitted to delay the registration
of Registrable Securities for the same period as the delay in registering such other securities, (iii) each Holder is subject to
confidentiality obligations and shall not use or disclose any information gained in this process or any other material non-public
information he, she or it obtains, (iv) each Holder or assignee or successor in interest shall comply with all applicable laws
relating to insider trading or similar restrictions; and (v) if all of the Registrable Securities of the Holders cannot be so included
due to Commission Comments, Commission Guidance or Underwriter Cutbacks, then the Company may reduce, in accordance with the provisions
of Section 1(c) hereof, the number of Piggyback Shares included in such Registration Statement required to comply with such Commission
Comments, Commission Guidance or Underwriter Cutbacks.

 

    	 	 	 

     

    

 

(b)          Initial Registration
Statement. At the election of each Holder, the Company shall be required to include up to all Piggyback Shares held by such
Holder for resale and offer on a continuous basis pursuant to Rule 415 in the first Registration Statement filed after the date
that it becomes a Reporting Company (the “Initial Registration Statement”); provided, however, that if
all of the Piggyback Shares of the Holders cannot be so included due to Commission Comments, Commission Guidance or Underwriter
Cutbacks, then the Company may reduce, in accordance with the provisions of Section 1(c) hereof, the number of Piggyback Shares
included in such Registration Statement required to comply with such Commission Comments, Commission Guidance or Underwriter Cutbacks.

 

(c)          Cutback Provisions.
In the event all of the Registrable Securities cannot be or are not included in a Registration Statement due to Commission Comments,
Commission Guidance or Underwriter Cutbacks, the Company and the Holders agree that securities shall be removed from such Registration
Statement in the following order until no further removal is required by Commission Comments, Commission Guidance or Underwriter
Cutbacks:

 

(i)          First, any
securities held by any former employee, consultant or affiliate of the Company shall be removed, pro rata based on the number of
securities being registered for such former employees, consultants or affiliates held by all of the former employees of the Company
and any of their affiliates and successors in interest, whether pursuant to agreement or otherwise and any other person with any
registration rights outstanding on the date hereof;

 

(ii)         Second,
the securities held by National Securities Corporation and Liquid Patent Consulting, LLC and their respective members and affiliates,
if any, obtained solely by reason of providing services to the Company, which are being registered pursuant to any registration
rights agreement or otherwise (for clarity, any securities held by National Securities or its members or affiliates which were
acquired upon payment of a purchase price in cash or property will not be subject to this provision (c)(ii)); and

 

(iii)        Third,
the securities held by parties to that certain Amended and Restated Registration Rights Agreement, dated as of the date hereof
(the “Investor Registration Agreement”), by and among the Company and the persons listed on Schedule A thereto
(the “Investors”), shall be removed, pro rata based on the number of securities held by each Investor in comparison
to the number of securities held by all Investors who have requested to include any registrable securities in the Registration
Statement.

 

(d)          [Reserved.]

 

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(e)          Filing; Content.
The Company will use its commercially reasonable efforts to cause each Registration Statement pursuant to which any Registrable
Securities are included, including the Initial Registration Statement, to contain the Plan of Distribution substantially similar
to that attached hereto as Schedule B. The Company shall use its commercially reasonable efforts to cause any Registration
Statement filed under this Section 1, including the Initial Registration Statement, to be declared effective under the Securities
Act as promptly as practicable after the filing thereof and shall keep such Registration Statement continuously effective under
the Securities Act until the earlier of (i) one year after its Effective Date (provided, however, the one year period shall be
extended for any Grace Period), (ii) such time as all of the Registrable Securities covered by such Registration Statement have
been publicly sold by the Holders, or (iii) such time as all of the Registrable Securities covered by such Registration Statement
may be sold by the Holders pursuant to Rule 144 without regard to both the volume limitations for sales as provided in Rule 144
and the limitations for such sales provided in Rule 144(i), if applicable, as determined by the counsel to the Company pursuant
to a written opinion letter to such effect, addressed and acceptable to the Company's transfer agent and the affected Holder (“Effectiveness
Period”). By 5:00 p.m. (New York City time) on the business day immediately following the Effective Date of a Registration
Statement, the Company shall file with the Commission in accordance with Rule 424 under the Securities Act the final Prospectus
to be used in connection with sales pursuant to such Registration Statement (whether or not such filing is technically required
under such Rule). Notwithstanding the foregoing portion of this Section 1(e), the Company shall have the right in its sole discretion
to withdraw any Registration Statement filed under this Section 1 prior to its effectiveness.

 

(f)          Termination of
Piggyback Registration Rights. The registration rights afforded to each Holder under this Section 1 shall terminate on the
earliest date when all Registrable Securities of the Holder either: (i) have been publicly sold by the Holder pursuant to a Registration
Statement, (ii) have been covered by an effective Registration Statement which has been effective for an aggregate period of sixteen
(16) months (whether or not consecutive), provided, however, the time period shall be calculated so as to exclude any Grace Period,
or (iii) may be sold by the Holder pursuant to Rule 144 without regard to both the volume limitations for sales as provided in
Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined by the counsel to the Company
pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected
Holder in its reasonable discretion.

 

2.           Demand Registration
Rights.

 

(a)          Demand Right.
Commencing on the date that is one hundred eighty (180) days after the Company becomes a Reporting Company, the Holders, together
with the Investors, as a group representing at least 50% of the Registrable Securities, including the Registrable Securities of
the Investors (a “Requesting Group”), shall have a separate one-time right, by written notice to the Company,
signed by such Holders (the “Demand Notice”), to request the Company to register for resale all Registrable
Securities included by the Requesting Group in the Demand Notice (the “Demand Shares”) under and in accordance
with the provisions of the Securities Act by filing with the Commission a Registration Statement covering the resale of such Demand
Shares (the “Demand Registration Statement”). A copy of the Demand Notice also shall be provided by the Company
to each of the other Holders who will have fifteen (15) days to notify the Company in writing to include their Registrable Securities
as part of the Demand Shares, the failure of which, however, shall not in any way affect the rights of the Requesting Group pursuant
to this Section 2(a). The Demand Registration Statement required hereunder shall be on any form of registration statement then
available for the registration of the Registrable Securities, as selected by the Company in accordance with applicable law and
regulation. The Company will use its commercially reasonable efforts to file the Demand Registration Statement within forty-five
(45) days of the receipt of the Demand Notice, provided if the Demand Notice is given within the forty-five (45) days after the
prior fiscal year end, then the Company will use its reasonably commercial efforts to file the Demand Registration Statement within
ninety (90) days of the fiscal year end of the Company. The Company shall use its commercially reasonable efforts to cause the
Demand Registration Statement to be declared effective under the Securities Act as promptly as practicable after the filing thereof
and to keep the Demand Registration Statement continuously effective under the Securities Act during the Effectiveness Period.
Notwithstanding anything in this Section 2 to the contrary, and for the avoidance of doubt, the demand registration right of the
Holders of Registrable Securities under this Agreement is tied to and shall be exercised in conjunction with the demand registration
right in favor of the Investors pursuant to the Investor Registration Agreement, and is not distinct, separate or separable therefrom.

 

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(b)           Inclusion of Other
Registrable Shares and Cutback Provisions. If as a result of Commission Comments or Commission Guidance, not all shares are
included that are desired to be included in a Registration Statement for the Demand Shares, the provisions of Section 1(c) shall
apply, subject to the Demand Priority (as defined below) of the Requesting Group. Pursuant to the piggyback registration rights
granted under this Agreement or the Investor Registration Agreement, the Company may include the Registrable Shares of the other
Holders which will be subject to the provision of Section 1(c) hereof, except that under Section 1(c), Section 1(c)(iii) will be
reversed with Section 1(c)(ii), and to the extent there is any cut back of Shares of the Holders hereunder, there will be no cutback
of the Registrable Securities of the Requesting Group until the Holders of Piggyback Shares and the shares of any other person
exercising piggyback rights under any other registration rights agreement have been removed, and thereafter if any further Registrable
Securities have to be removed then those of the Requesting Group will be removed pro rata (the “Demand Priority”).
Notwithstanding the foregoing, if any other securities of any person other than the Requesting Group are included on the Demand
Registration Statement, such securities will be removed, if required pursuant to Commission Comments, after removal of the securities
indicated in Section 1(c)(i) and before the securities indicated in Section 1(c)(ii), as such persons decide among themselves,
and if there is no agreement at to such removal provided to the Company within a reasonable time, time being of the essence, then
all the such securities will be removed.

 

(c)          Termination of
Demand Registration Rights. The registration rights afforded to each Holder under this Section 2 shall terminate on the earliest
date when all Registrable Securities of the Holder either: (i) have been publicly sold by the Holder pursuant to a Registration
Statement, (ii) have been covered by an effective Registration Statement which has been effective for an aggregate period of sixteen
(16) months (whether or not consecutive), provided, however, the time period shall be calculated so as to exclude
any Grace Period, or (iii) may be sold by the Holder pursuant to Rule 144 without regard to both the volume limitations for sales
as provided in Rule 144 and the limitations for such sales provided in Rule 144(i), if applicable, as determined by the counsel
to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent
and the affected Holder in its reasonable discretion.

 

3.           Registration Procedures.
Whenever any Registrable Securities are to be registered pursuant to this Agreement, the Company shall use its commercially reasonable
efforts to effect the registration and sale of such Registrable Securities in accordance with the intended method of disposition
thereof, and pursuant thereto the Company shall have the following obligations:

 

(a)          The Company shall
prepare and file with the Commission a Registration Statement with respect to such Registrable Securities and use its commercially
reasonable efforts to cause such Registration Statement to become effective.

 

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(b)          The Company shall
prepare and file with the Commission such amendments (including post-effective amendments) and supplements to a Registration Statement
and the Prospectus used in connection with such Registration Statement, which Prospectus is to be filed pursuant to Rule 424 promulgated
under the Securities Act, as may be necessary to keep such Registration Statement effective at all times during the Effectiveness
Period, and, during such period, comply with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities of the Company covered by such Registration Statement. In the case of amendments and supplements to a Registration Statement
which are required to be filed pursuant to this Agreement by reason of the Company filing a report on Forms 10-K, 10-Q or Current
Report on Form 8-K, or any analogous report under the Securities Exchange Act, the Company shall have incorporated such report
by reference into such Registration Statement, if applicable, or shall file such amendments or supplements with the Commission
on the same day on which the Securities Exchange Act report is filed which created the requirement for the Company to amend or
supplement such Registration Statement.

 

(c)          The Company shall
furnish to each Holder of Registrable Securities in any Registration Statement, without charge, (i) promptly after the same is
prepared and filed with the Commission at least one copy of such Registration Statement and any amendment(s) thereto, including
financial statements and schedules, all documents incorporated therein by reference, if requested by such seller, all exhibits
and each preliminary Prospectus, (ii) unless such Holder is exempt from the prospectus delivery requirements pursuant to Rule 172
of the Securities Act, upon the effectiveness of any Registration Statement, ten (10) copies of the Prospectus included in such
Registration Statement and all amendments and supplements thereto (or such other number of copies as such seller may reasonably
request), and (iii) such other documents, including copies of any preliminary or final Prospectus, as such seller may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by such seller.

 

(d)          The Company shall
use its commercially reasonable efforts to (i) register and qualify, unless an exemption from registration and qualification applies,
the resale by any seller of the Registrable Securities covered by a Registration Statement under such other securities or “blue
sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions, such amendments
(including post-effective amendments) and supplements to such registrations and qualifications as may be necessary to maintain
the effectiveness thereof during the Effectiveness Period, (iii) take such other actions as may be necessary to maintain such registrations
and qualifications in effect at all times during the Effectiveness Period, and (iv) take all other actions reasonably necessary
or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided, however, that the Company
shall not be required in connection therewith or as a condition thereto to (x) qualify to do business in any jurisdiction where
it would not otherwise be required to qualify but for this Section 3(d), (y) subject itself to general taxation in any such jurisdiction,
or (z) file a general consent to service of process in any such jurisdiction.

 

(e)          The Company shall
use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration
Statement, or the suspension of the qualification of any of Registrable Securities for sale in any jurisdiction and, if such an
order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest practicable time and to notify
the Holder of any Registrable Securities included in the offering under such Registration Statement of such order and the resolution
thereof or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

 

(f)          The Company shall
notify the Holder in writing of the happening of any event, as promptly as practicable after becoming aware of such event, as a
result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue statement of a material
fact or omission to state a material fact required to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading (provided that in no event shall such notice contain any material,
nonpublic information), and, subject to Section 3(r), promptly prepare a supplement or amendment to such Registration Statement
to correct such untrue statement or omission, and, unless such Holder is exempt from the prospectus delivery requirements pursuant
to Rule 172 of the Securities Act, deliver ten (10) copies of such supplement or amendment to the Holder (or such other number
of copies as the Holder may reasonably request).

 

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(g)          The Company shall
promptly notify the Holder in writing (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed,
and when a Registration Statement or any post-effective amendment has become effective (notification of such effectiveness shall
be delivered to the Holder by email or facsimile on the same day of such effectiveness or by overnight delivery), (ii) of any request
by the Commission for amendments or supplements to a Registration Statement or related Prospectus or related information, and (iii)
of the Company’s reasonable determination that a post-effective amendment to a Registration Statement would be appropriate.

 

(h)          If the Holder is required
under applicable Commission Guidance to be described in a Registration Statement as an underwriter, at the reasonable request of
such Holder, the Company shall use its best efforts to furnish to such Holder, on the date of the effectiveness of such Registration
Statement and thereafter from time to time on such dates as the Holder may reasonably request (i) a letter, dated such date, from
the Company’s independent certified public accountants in form and substance as is customarily given by independent certified
public accountants to underwriters in an underwritten public offering, addressed to the Holder, and (ii) an opinion, dated as of
such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance as is
customarily given in an underwritten public offering, addressed to the Holder.

 

(i)           If the Holder is required
under applicable Commission Guidance to be described in a Registration Statement as an underwriter, then at the request of such
Holder in connection with such Holder’s due diligence requirements, the Company shall make available for inspection by (i)
the Holder, (ii) the Holder’s legal counsel, and (iii) one firm of accountants or other agents retained by the Holder (collectively,
the “Inspectors”), all pertinent financial and other records, and pertinent corporate documents and properties
of the Company (collectively, the “Records”), as shall be reasonably deemed necessary by each Inspector, and
cause the Company’s officers, directors and employees to supply all information which any Inspector may reasonably request;
provided, however, that each Inspector shall agree to hold in strict confidence and shall not make any disclosure
(except to the Holder) or use of any Record or other information which the Company determines in good faith to be confidential,
and of which determination the Inspectors are so notified, unless (a) the release of such Records is ordered pursuant to a final,
non-appealable subpoena or order from a court or government body of competent jurisdiction, or (b) the information in such Records
has been made generally available to the public other than by disclosure in violation of this or any other agreement of which the
Inspector has knowledge. Each Holder agrees that it shall, upon learning that disclosure of such Records is sought in or by a court
or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and allow the Company,
at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, the Records deemed
confidential. Nothing herein (or in any other confidentiality agreement between the Company and the Holder) shall be deemed to
limit the Holder’s ability to sell Registrable Securities in a manner which is otherwise consistent with applicable laws
and regulations. Notwithstanding the foregoing, each Holder acknowledges that the Records may contain material non-public information
and agrees that it shall strictly comply with the insider trading rules prohibiting the purchasing, selling or the Company’s
securities while in the possession of any such material non-public information.

 

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(j)           The Company shall
hold in confidence and not make any disclosure of information concerning the Holder provided to the Company unless (i) disclosure
of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary
to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered
pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, (iv) such
information has been made generally available to the public other than by disclosure in violation of this Agreement or any other
agreement, or (v) the Holder provides information to the Company intended for inclusion in a Registration Statement. The Company
agrees that it shall, upon learning that disclosure of such information concerning the Holder is sought in or by a court or governmental
body of competent jurisdiction or through other means, give prompt written notice to the Holder if permitted by applicable law
or regulation and allow the Holder, at the Holder’s expense, to undertake appropriate action to prevent disclosure of, or
to obtain a protective order for, such information.

 

(k)          The Company shall
(i) if applicable, use its best efforts to cause all of the Registrable Securities covered by a Registration Statement to be listed
on each securities exchange on which securities of the same class or series issued by the Company are then listed, if any, if the
listing of such Registrable Securities is then permitted under the rules of such exchange, or (ii) otherwise, use its commercially
reasonable efforts to secure designation and quotation of all of the Registrable Securities covered by a Registration Statement
on any one of the different levels of The NASDAQ Stock Market, or (iii) if, despite the Company’s best efforts or commercially
reasonable efforts, as applicable, to satisfy, the preceding clauses (i) and (ii) the Company is unsuccessful in satisfying the
preceding clauses (i) and (ii), to instead secure the inclusion for quotation on the Over-the-Counter Bulletin Board for such Registrable
Securities and, without limiting the generality of the foregoing, to use its commercially reasonable efforts to encourage at least
two market makers to register with the Financial Industry Regulatory Authority, Inc. (“FINRA”) as such with
respect to such Registrable Securities. For the avoidance of doubt, subject to and in accordance with Section 5, the Company shall
pay all fees and expenses of the Company in connection with satisfying its obligation under this Section 3(k).

 

(l)           If requested by the
Holder, and permissible under Commission Guidance, the Company shall (i) as soon as practicable incorporate in a Prospectus supplement
or post-effective amendment such information as the Holder reasonably requests to be included therein relating to the sale and
distribution of Registrable Securities, including, without limitation, information with respect to the Registrable Securities being
offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities to be
sold in such offering; (ii) as soon as practicable make all required filings of such Prospectus supplement or post-effective amendment
after being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; and (iii) as
soon as practicable, supplement or make amendments to any Registration Statement if reasonably requested by the Holder holding
any Registrable Securities.

 

(m)         The Company shall
cooperate with each Holder who holds Registrable Securities being offered and, to the extent applicable, facilitate the timely
preparation and delivery of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered
pursuant to a Registration Statement and enable such certificates to be in such denominations or amounts, as the case may be, as
the Holder may reasonably request and registered in such names as the Holder may request.

 

(n)          The Company shall
use its commercially reasonable efforts to cause the Registrable Securities covered by a Registration Statement to be registered
with or approved by such other U.S. governmental agencies or authorities, but only in matters not contemplated Section 3(d) by
or reasonably related to such matters (which matters are to be governed exclusively by Section 3(d)), as may be strictly necessary
to consummate the disposition of such Registrable Securities by the Holder strictly in accordance with the Plan of Distribution
included in the Registration Statement (as such Plan of Distribution may be modified from time to time in any filing with the Commission).

 

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(o)          The Company shall
make generally available to its security holders as soon as practicable, but not later than ninety (90) days after the close of
the period covered thereby (or, if different, within the period permitted for the filing of reports on Forms 10-K or 10-Q), an
earnings statement (in form complying with, and in the manner provided by, the provisions of Rule 158 under the Securities Act)
covering a twelve-month period beginning not later than the first day of the Company’s fiscal quarter next following the
Effective Date of a Registration Statement.

 

(p)          The Company shall
otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission in connection
with any registration hereunder.

 

(q)          Within two (2) business
days after a Registration Statement which covers Registrable Securities is ordered effective by the Commission, the Company shall
deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities (with
copies to the Holder whose Registrable Securities are included in such Registration Statement) confirmation that such Registration
Statement has been declared effective by the Commission in the form attached hereto as Exhibit A and the Irrevocable Transfer
Agent Instructions in the form attached hereto as Exhibit B.

 

(r)          Notwithstanding anything
to the contrary herein, at any time after the Effective Date of a Registration Statement, the Company may delay the disclosure
of material, non-public information concerning the Company the disclosure of which at the time is not, in the good faith opinion
of the Board of Directors of the Company, in the best interest of the Company and not, after consultation with legal counsel, otherwise
required (a “Grace Period”); provided, that the Company shall promptly (i) notify the Holder in writing of the
existence of material, non-public information giving rise to a Grace Period (provided that in each notice the Company will not
disclose the content of such material, non-public information to the Holder) and the date on which the Grace Period will begin,
and (ii) notify the Holder in writing of the date on which the Grace Period ends; and, provided further, that no Grace Period shall
exceed sixty (60) consecutive days and during any three hundred sixty-five (365) day period such Grace Periods shall not exceed
an aggregate of one hundred twenty (120) days (each, an “Allowable Grace Period”). For purposes of determining
the length of a Grace Period above, the Grace Period shall begin on and include the date the Holder receives the notice referred
to in clause (i) and shall end on and include the later of the date the Holder receives the notice referred to in clause (ii) and
the date referred to in such notice. The provisions of Section 3(f) hereof shall not be applicable during the period of any Allowable
Grace Period. Upon expiration of the Grace Period, the Company shall again be bound by Section 3(f) with respect to the information
giving rise thereto unless such material, non-public information is no longer applicable. Notwithstanding anything to the contrary,
the Company shall cause its transfer agent to deliver unlegended shares of Common Stock to a transferee of the Holder in connection
with any sale of Registrable Securities with respect to which the Holder has entered into a contract for sale, and delivered a
copy of the Prospectus included as part of the applicable Registration Statement (unless an exemption from such Prospectus delivery
requirements exists), prior to the Holder’s receipt of the notice of a Grace Period or, if earlier, Holders knowledge of
the material, non-public information concerning the Company that gave rise to the Grace Period, and for which the Holder has not
yet settled.

 

4.           Obligations of
the Holders.

 

(a)          At least five (5)
business days prior to the first anticipated filing date of a Registration Statement, the Company shall notify the Holders in writing
of the information the Company requires from each Holder if the Holder’s Registrable Securities are to be included in such
Registration Statement. It shall be a condition precedent to the obligations of the Company to complete the registration pursuant
to this Agreement with respect to any Registrable Securities of the Holder that the Holder shall furnish to the Company such information
regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held
by it as shall be reasonably required to effect the effectiveness of the registration of such Registrable Securities and shall
execute such documents in connection with such registration as the Company may reasonably request.

 

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(b)          The Holder, by the
Holder’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company
in connection with the preparation and filing of any Registration Statement hereunder, unless the Holder has notified the Company
in writing of the Holder's election to exclude all of the Holder’s Registrable Securities from such Registration Statement.

 

(c)          The Holder agrees
that, upon receipt of any notice from the Company of the happening of any event of the kind described in Sections 3(e) or 3(f)
or of a Grace Period under Section 3(r), the Holder will immediately discontinue disposition of Registrable Securities pursuant
to any Registration Statement(s) covering such Registrable Securities until the Holder’s receipt of the copies of the supplemented
or amended Prospectus contemplated by Sections 3(e) or 3(f) or receipt of notice that no supplement or amendment is required. Notwithstanding
anything to the contrary, the Company shall cause its transfer agent to deliver unlegended shares of Common Stock to a transferee
of the Holder in connection with any sale of Registrable Securities with respect to which the Holder has entered into a contract
for sale prior to the Holder’s receipt of a notice from the Company of the happening of any event of the kind described in
Sections 3(e) or 3(f) or of any Grace Period, or, if earlier, Holders knowledge of the material, non-public information concerning
the Company or the facts or circumstances that gave rise to the Grace Period or of the Section 3(e) or 3(f) event, and for which
the Holder has not yet settled.

 

(d)          The Holder covenants
and agrees that it will comply with the Prospectus delivery requirements of the Securities Act as applicable to it or an exemption
therefrom in connection with sales of Registrable Securities pursuant to a Registration Statement.

 

5.           Registration Expenses.
All expenses incident to the Company’s performance of or compliance with this Agreement, including without limitation all
registration and filing fees, fees and expenses of compliance with securities or blue sky laws, printing expenses, messenger and
delivery expenses, fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent
certified public accountants, underwriters retained by the Company (excluding discounts, commissions and placement agent fees)
and other Persons retained by the Company (all such expenses being herein called “Registration Expenses”), shall
be borne by the Company. Further, the Company shall pay its internal expenses (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review,
the expense of any liability insurance and the expenses and fees for listing the securities to be registered on each securities
exchange on which similar securities issued by the Company are then listed.

 

     9

     

    

 

6.           Indemnification.

 

In the event any Registrable
Securities are included in a Registration Statement under this Agreement:

 

(a)          To the fullest extent
permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Holder, the directors, officers, members,
partners, employees, agents, representatives of, and each Person, if any, who controls the Holder within the meaning of the Securities
Act or the Securities Exchange Act (each, an “Indemnified Person”), against any losses, claims, damages, liabilities,
judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses, joint or
several, (collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit,
inquiry, proceeding, investigation or appeal taken from the foregoing by or before any court or governmental, administrative or
other regulatory agency, body or the Commission, whether pending or threatened, whether or not an indemnified party is or may be
a party thereto (“Indemnified Damages”), to which any of them may become subject insofar as such Claims (or
actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon: (i) any untrue statement
or alleged untrue statement of a material fact in a Registration Statement or any post-effective amendment thereto or in any filing
made in connection with the qualification of the offering under the securities or other “blue sky” laws of any jurisdiction
in which Registrable Securities are offered, or the omission or alleged omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a
material fact contained in any preliminary Prospectus if used prior to the effective date of such Registration Statement, or contained
in the final Prospectus (as amended or supplemented, if the Company files any amendment thereof or supplement thereto with the
Commission) or the omission or alleged omission to state therein any material fact necessary to make the statements made therein,
in the light of the circumstances under which the statements therein were made, not misleading, (iii) any violation or alleged
violation by the Company of the Securities Act or the Securities Exchange Act, any other law, including, without limitation, any
state securities law, or any rule or regulation thereunder relating to the offer or sale of the Registrable Securities pursuant
to a Registration Statement or (iv) any violation of this Agreement (the matters in the foregoing clauses (i) through (iv) being,
collectively, “Violations”). Subject to Section 6(c), the Company shall reimburse the Indemnified Persons, promptly
as such expenses are incurred and are due and payable, for any legal fees or other reasonable expenses incurred by them in connection
with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a): (i) shall not apply to a Claim by an Indemnified Person arising out of or based upon
a Violation which occurs based on a Holder’s material breach of its covenants or agreements in Section 4(c) or (d) or in
reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person or by a Related
Information Provider expressly for use in connection with the preparation of the Registration Statement or any such amendment thereof
or supplement thereto and (ii) shall not be available to the extent such Claim is based on a failure of the Holder to deliver or
to cause to be delivered the Prospectus made available by the Company, including a corrected Prospectus, if such Prospectus or
corrected Prospectus was timely made available by the Company pursuant to Section 3(c); and (iii) shall not apply to amounts paid
in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent shall
not be unreasonably withheld or delayed. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of the Indemnified Person and shall survive the transfer of the Registrable Securities by the Holder pursuant to
Section 10. “Related Information Provider” means, in respect of any Indemnified Person, the Holder to which
such Indemnified Person is related or another Indemnified Person that is related to the Holder to which such Indemnified Person
is related.

 

(b)          To the fullest extent
permitted by law, in connection with any Registration Statement in which a Holder’s Registrable Securities are included or
in which a Holder is otherwise participating, such Holder will severally and not jointly indemnify and hold harmless the Company,
each of its directors, each of its officers who has signed the Registration Statement, each Person, if any, who controls the Company
within the meaning of the Securities Act, any underwriter, any other Holder or other Person selling securities in such Registration
Statement and any controlling person of any such underwriter or other Holder or other Person (each an “Other Indemnified
Person”), against any Claims or Indemnified Damages to which any of them may become subject, under the Securities Act,
the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or are based upon any Violation, in each
case to the extent, and only to the extent, that such Violation occurs based on a Holder’s material breach of its covenants
or agreements in Section 4(c) or (d) or in reliance upon and in conformity with written information furnished by such Holder or
by a Related Information Provider expressly for use in connection with such Registration Statement; and each such Holder will pay,
as incurred, any legal or other expenses reasonably incurred by any Other Indemnified Person intended to be indemnified pursuant
to this Section 6(b), in connection with investigating or defending any such Claim; provided, however, that the indemnity
agreement contained in this Section 6(b) shall not apply to amounts paid in settlement of any such Claim if such settlement is
effected without the prior written consent of the Holder, which consent shall not be unreasonably withheld; provided, further,
however, that the Holder shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages
as does not exceed the net proceeds to the Holder as a result of the sale of Registrable Securities pursuant to such Registration
Statement, except in the case of fraud by such Holder. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of such Other Indemnified Person and shall survive the transfer of the Registrable Securities by the Holder
pursuant to Section 10.

 

     10

     

    

 

(c)          Promptly after receipt
by an Indemnified Person or Other Indemnified Person under this Section 6 of notice of the commencement of any action or proceeding
(including any governmental action or proceeding) involving a Claim, such Indemnified Person or Other Indemnified Person shall,
if a claim for indemnification in respect thereof is to be made against any indemnifying party under this Section 6, deliver to
the indemnifying party a written notice of the commencement thereof, and the indemnifying party shall have the right to participate
in, and, to the extent the indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume
control of the defense thereof with counsel mutually satisfactory to the indemnifying party and reasonably satisfactory to the
Indemnified Person or the Other Indemnified Person, as the case may be; provided, however, that an Indemnified Person
or Other Indemnified Person shall have the right to retain its own counsel with the fees and expenses of not more than one counsel
for all such Indemnified Persons or all such Other Indemnified Persons to be paid by the indemnifying party, if, in the reasonable
opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Other Indemnified
Person and the indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified
Person or Other Indemnified Person and any other party represented by such counsel in such proceeding. The Other Indemnified Person
or Indemnified Person, as applicable, shall cooperate fully with the indemnifying party in connection with any negotiation or defense
of any such action or Claim by the indemnifying party and shall furnish to the indemnifying party all information reasonably available
to such Other Indemnified Person or such Indemnified Person which relates to such action or Claim. The indemnifying party shall
keep the Other Indemnified Person or Indemnified Person, as applicable, reasonably apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for any settlement of any action,
claim or proceeding effected without its prior written consent; provided, however, that the indemnifying party shall
not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent of the
Other Indemnified Person or Indemnified Person, as applicable, consent to entry of any judgment or enter into any settlement or
other compromise which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Other
Indemnified Person or such Indemnified Person of a release from all liability in respect to the Claim at issue, and such settlement
shall not include any admission as to fault on the part of such Other Indemnified Person or such Indemnified Person. Following
indemnification as provided for hereunder, the indemnifying party shall be subrogated to all rights of the Other Indemnified Person
or Indemnified Person, as applicable, with respect to all third parties, firms or corporations relating to the matter for which
indemnification has been made. The failure to deliver written notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified Person or Other Indemnified
Person, as applicable, under this Section 6, except to the extent that the indemnifying party is materially prejudiced in its ability
to defend such action.

 

(d)          The indemnification
required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation or defense,
as and when bills are received or Indemnified Damages are incurred, subject to an undertaking by the Indemnified Person or the
Other Indemnified Person, as applicable, to return such payments to the extent a court of competent jurisdiction or other competent
authority determines that such payments were unlawful or were not required under this Agreement.

 

     11

     

    

 

(e)          Without any duplication
or multiplication of damages, the indemnity agreements contained herein shall be in addition to (i) any cause of action or similar
right of the Other Indemnified Person or Indemnified Person against the indemnifying party or others, and (ii) any liabilities
the indemnifying party may be subject to pursuant to the law.

 

(f)           Unless suspended by
the underwriting agreement applicable to any registration, the obligations of the Company and Holders under this Section 6 shall
survive the completion of any offering of Registrable Securities in a Registration Statement under this Agreement, or otherwise.

 

7.           Contribution.
To the extent any indemnification by an indemnifying party is prohibited or limited by law, such indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent
permitted by law; provided, however, that: (i) no Person involved in the sale of Registrable Securities which Person
is guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Securities Act) in connection with such sale
shall be entitled to contribution from any Person involved in such sale of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of
proceeds received by such seller from the sale of such Registrable Securities pursuant to such Registration Statement.

 

8.           No Delay of Registration.
No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any registration as the result
of any controversy that might arise with respect to the interpretation or implementation of this Agreement.

 

9.           Reports under
Securities Exchange Act. With a view to making available to the Holder the benefits of Rule 144 promulgated under the Securities
Act or any other similar rule or regulation of the Commission that may at any time permit the Holder to sell securities of the
Company to the public without registration, once the Company becomes a Reporting Company, the Company agrees to use its commercially
reasonable efforts to continue to be a Reporting Company for five years and further during such time it is a Reporting Company
the Company agrees to use its best efforts to:

 

(a)          make and keep public
information available, as those terms are understood and defined in Rule 144;

 

(b)          file with the Commission
in a timely manner all reports and other documents required of the Company under the Securities Act and the Securities Exchange
Act so long as the Company remains subject to such requirements and the filing of such reports and other documents is required
for the applicable provisions of Rule 144; and

 

(c)          furnish to the Holder
so long as the Holder owns Registrable Securities, promptly upon request, (i) a written statement by the Company, if true, that
it has complied with the reporting requirements of Rule 144, the Securities Act and the Securities Exchange Act, (ii) unless available
on the Commission’s EDGAR website, copy of the most recent annual or quarterly report of the Company and such other reports
and documents so filed by the Company, and (iii) such other information as may be reasonably requested to permit the Holder to
sell such securities pursuant to Rule 144 without registration.

 

     12

     

    

 

10.         Assignment of
Registration Rights. The rights under this Agreement shall be automatically assignable by the Holder to any transferee of all
or any portion of the Holder’s Registrable Securities if: (i) the Holder agrees in writing with the transferee or assignee
to assign such rights, and a copy of such agreement is furnished to the Company within a reasonable time after such assignment;
(ii) the Company is, within a reasonable time after such transfer or assignment, furnished with written notice of (a) the name
and address of such transferee or assignee, and (b) the securities with respect to which such registration rights are being transferred
or assigned; (iii) immediately following such transfer or assignment the further disposition of such securities by the transferee
or assignee is or might be restricted under the Securities Act and applicable state securities laws; and (iv) at or before the
time the Company receives the written notice contemplated by clause (ii) of this sentence the transferee or assignee agrees in
writing with the Company to be bound by all of the provisions contained herein.

 

11.         Subsequent Registration
Rights. The Company agrees that after the date hereof and excluding the Investor Registration Agreement, it will not grant
to any person any registration right or proceed to register any securities of any person unless it provides in such agreement or
registration that any securities being registered under such agreement or registration will be subject to the cutback provisions
of this Agreement as provided in Section 1(c) and Section 2(b).

 

12.         Amendment of
Registration Rights. Provisions of this Agreement may be amended and the observance thereof may be waived (either generally
or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the holders
of at least a majority of the then outstanding Registrable Securities. Any amendment so effected will be binding upon all Holders,
whether or not such Holder consents thereto.

 

13.         Definitions.

 

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

 

(b)          “Commission
Comments” means written comments pertaining solely to Rule 415 or other comments to the extent they relate to Rule 415
which are received by the Company from the Commission, and a copy of which shall have been provided by the Company to the Holder,
to a filed Registration Statement which limit the amount of shares which may be included therein to a number of shares which is
less than such amount sought to be included thereon as filed with the Commission.

 

(c)          “Commission
Guidance” means (i) any guidance, comments, requirements or requests of the Commission staff that is publicly available
in oral or written form and any comments or guidance provided by the Commission staff directly to the Company in written form,
(ii) the Securities Act and the rules and regulations promulgated thereunder or (iii) the Securities Exchange Act and the rules
and regulations promulgated thereunder.

 

(d)          “Common Stock”
means the common stock, $0.001 par value per share, of the Company.

 

(e)          “Effective
Date” means, as to a Registration Statement, the date on which such Registration Statement is first declared effective
by the Commission.

 

(f)          “Person”
means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

     13

     

    

 

(g)          “Prospectus”
means the prospectus included in the Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated
under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of
any portion of the Registrable Securities covered by the Registration Statement, and all other amendments and supplements to the
Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus

 

(h)          “Registrable
Securities” means (i) has the meaning established in the recitals and (ii) also includes any other shares of Common Stock
or any other securities issued or issuable with respect to the securities referred to in clause (i) by way of a stock dividend
or stock split or in connection with an exchange or combination of shares, recapitalization, merger, consolidation or other reorganization.

 

(i)           “Registration
Statement” means any registration statement (including, without limitation, the Initial Registration Statement or the
Follow-up Registration Statement) required to be filed hereunder (which, at the Company’s option, may be an existing registration
statement of the Company previously filed with the Commission, but not declared effective), including (in each case) the Prospectus,
amendments and supplements to the Registration Statement or Prospectus, including pre- and post-effective amendments, all exhibits
thereto, and all material incorporated by reference or deemed to be incorporated by reference in the Registration Statement.

 

(j)           “Reporting
Company” means a company that is obligated to file periodic reports under Sections 13 or 15(d) of the Securities Exchange
Act.

 

(k)           “Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission that may at any time permit the Holder to sell securities of
the Company to the public without registration.

 

(l)           “Rule 415”
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

(m)         “Rule 424”
means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

(n)          “Securities
Act” means the Securities Act of 1933, as amended from time to time together with the regulations promulgated thereunder.

 

(o)          “Securities
Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, together with the regulations
promulgated thereunder.

 

     14

     

    

 

(p)          “Underwriter
Cutbacks” means any reduction in the number of shares suggested by any managing underwriter to be included in a registration
under a Registration Statement based upon the guidance in this Section 13(p). In connection with any offering involving an underwriting
of shares of the Company’s capital stock, the Company shall not be required under Section 1 to include any of the Holders’
securities in such underwriting unless they accept the terms of the underwriting as agreed upon between the Company and the underwriters,
and then only in such quantity as the underwriters determine in their sole discretion will not jeopardize the success of the offering
by the Company. If the total amount of securities, including Registrable Securities, requested by stockholders to be included in
such offering exceeds the amount of securities to be sold other than by the Company that the underwriters determine in their sole
discretion is compatible with the success of the offering, then the Company shall be required to include in the offering only that
number of such securities, including Registrable Securities, which the underwriters determine in their sole discretion will not
jeopardize the success of the offering (the securities so included to be apportioned pro rata among the selling shareholders according
to the total amount of securities entitled to be included therein owned by each selling shareholder or in such other proportions
as shall mutually be agreed to by such selling shareholders); provided, that any such cutback will be effected in accordance with
the priorities established by Section 1(c); provided further that in no event shall the amount of securities of the selling Holders
included in an offering pursuant to Section 1 be reduced below 30% of the total amount of securities included in such offering.

 

14.         Miscellaneous.

 

(a)          A Person is deemed
to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable Securities. If
the Company receives conflicting instructions, notices or elections from two or more Persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions, notice or election received from such record owner of such Registrable
Securities.

 

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

 

If to the Company:

 

Atomera Incorporated

750 University Avenue, Suite 280

Los Gatos, CA 95032

Attn: Chief Executive Officer

 

With a copy (for informational purposes
only) to:

 

Greenberg Traurig, LLP

3161 Michelson Drive, Suite 1000

Irvine, CA 92612

Facsimile: (949) 732-6501

E-mail: DonahueD@gtlaw.com

Attn: Daniel K. Donahue, Esq.

 

and

 

If to any Holder, at the address for
such Holder on the records of the Company, which may include the information on Schedule A hereto.

 

     15

     

    

 

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

 

(c)          Failure of any party
to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right or remedy, shall
not operate as a waiver thereof.

 

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

 

(e)          This Agreement and
the instruments referenced herein and therein constitute the entire agreement among the parties hereto with respect to the subject
matter hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred
to herein and therein. This Agreement and the instruments referenced herein and therein supersede all prior agreements and understandings
among the parties hereto with respect to the subject matter hereof and thereof.

 

(f)          Subject to the requirements
of Section 9, this Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of
the parties hereto.

 

(g)          The headings in this
Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(h)          This Agreement may
be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute one and the
same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto by facsimile transmission
or other electronic transmission (such as but not limited to an email attachment in PDF format) of a copy of this Agreement bearing
the signature of the party so delivering this Agreement. This Agreement may also be executed by electronic signature of such Person.

 

     16

     

    

 

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

 

(j)           All consents and other
determinations required to be made by the Holder pursuant to this Agreement shall be made, unless otherwise specified in this Agreement,
by the Holder.

 

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

 

(l)           This Agreement is
intended for the benefit of, and shall be binding upon, the parties hereto and their respective successors and permitted assigns,
and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

(m)          The obligations of
each Holder hereunder are several and not joint with the obligations of any other Holder, and no provision of this Agreement is
intended to confer any obligations on a Holder vis-à-vis any other Holder. Nothing contained herein, and no action taken
by any Holder pursuant hereto, shall be deemed to constitute the Holder as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that the Holder are in any way acting in concert or as a group with respect to such
obligations or the transactions contemplated herein.

 

(n)          Currency. As
used herein, “Dollar”, “US Dollar” and “$” each mean the lawful money of the United States.

 

(o)          For the avoidance
of doubt, this Agreement hereby amends and restates the 2015 Registration Rights Agreement in its entirety.

 

     17

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement as of the date first written above.

 

	COMPANY:	ATOMERA INCORPORATED
	 	 	 
	 	By:	/s/ Scott A. Bibaud
	 	 	Scott A. Bibaud,
	 	 	President and Chief Executive Officer
	 	 	 
	HOLDERS:	NATIONAL SECURITIES CORPORATION
	 	 	 
	 	By:	/s/ Jonathan C. Rich
	 	 	Jonathan C. Rich,
	 	 	Executive Vice President
	 	 	 
	 	Liquid Patent Consulting, LLC
	 	 	 
	 	By:	/s/ Ankur Desai
	 	 	Ankur Desai,
	 	 	Manager

 

    	 	 	 

     

    

 

  EXHIBIT A

 

FORM OF NOTICE OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

[Transfer Agent]

[Address]

Attention:

 

Re: Atomera Incorporated

 

Ladies and Gentlemen:

 

[We are][I am] counsel to
Atomera Incorporated, a Delaware corporation (the “Company”), and have represented the Company in connection with that
certain Amended and restated Registration Rights Agreement with _____________ (the “Holder”) (the “Registration
Rights Agreement”) pursuant to which the Company agreed, among other things, to register certain of the Registrable Securities
(as defined in the Registration Rights Agreement) held by the Holder, under the Securities Act of 1933, as amended (the “1933
Act”). In connection with the Company's obligations under the Registration Rights Agreement, on ____________ ___, 20__, the
Company filed a registration statement on Form S-[1] (File No. 333-_____________) (the “Registration Statement”) with
the Securities and Exchange Commission (the “SEC”) relating to the Registrable Securities which names the Holder as
a selling stockholder thereunder.

 

In connection with the foregoing,
[we][I] advise you that a member of the SEC’s staff has advised [us][me] by telephone that the SEC has entered an order declaring
the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER DATE OF EFFECTIVENESS] and [we][I]
have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order suspending its effectiveness
has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and the Registrable Securities
are available for resale under the 1933 Act pursuant to the Registration Statement.

 

If applicable, you may receive
notices from the Company pursuant to the Company’s rights or obligations under the Registration Rights Agreement in connection
with stop orders or other restrictions on transfer of the shares included in such Registration Statement, but [we][I] [are][am]
not obligated to update this letter or otherwise inform you of any such stop order or restriction.

 

[Other applicable disclosure
to be inserted here, if appropriate.]

 

	 	Very truly yours,

 

    	 	 	 

     

    

 

EXHIBIT B

 

IRREVOCABLE TRANSFER AGENT INSTRUCTIONS

 

_______________, 201[_]

 

[Addressed to Transfer Agent]

_______________________

_______________________

 

	Attention:	[________________________]

 

Ladies and Gentlemen:

 

Reference is made to that
certain Amended and Restated Registration Rights Agreement, dated as of _________________, 2016 (the “Agreement”),
by and among Atomera Incorporated, a Delaware corporation (the “Company”), _________________________ (the “Holder”)
and certain other securityholders of the Company, pursuant to which the Company is obligated to register certain shares held by
the Holder (the “Holder Shares”) of Common Stock of the Company, par value $0.001 per share (the “Common
Stock”).

 

This letter shall serve as
our irrevocable authorization and direction to you (provided that you are the transfer agent of the Company at such time) to issue
shares of Common Stock upon transfer or resale of the Holder Shares, unless we have otherwise informed you of the termination of
effectiveness of the registration statement in which the Holder Shares are included, a stop order or another transfer restriction.
We may also later inform you that after the termination of effectiveness of such registration statement that a registration statement
in which the Holder’s Shares are included, or that such stop order has been lifted or that such transfer restriction is not
applicable, in which case this authorization and direction shall be reinstated and be effective.

 

You acknowledge and agree
that so long as you have previously received (a) written confirmation from the Company's legal counsel that either (i) a registration
statement covering resales of the Holder Shares has been declared and remains effective by the Securities and Exchange Commission
(the “SEC”) under the Securities Act of 1933, as amended (the “1933 Act”), or (ii) sales
of the Holder Shares may be made in conformity with Rule 144 under the 1933 Act (“Rule 144”), (b) if applicable,
a copy of such registration statement, and (c) notice from legal counsel to the Company or any Holder that a transfer of Holder
Shares has been effected either pursuant to the registration statement (and a prospectus delivered to the transferee) or pursuant
to Rule 144, then as promptly as practicable, you shall issue the certificates representing the Holder Shares registered
in the names of such transferees, and such certificates shall not bear any legend restricting transfer of the Common Stock evidenced
thereby and should not be subject to any stop-transfer restriction; provided, however, that if such shares of Common Stock and
are not registered for resale under the 1933 Act or able to be sold under Rule 144, then the certificates for such Common Shares
shall bear the following legend:

 

    	 	 	 

     

    

 

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

 

A form of written confirmation
from the Company’s outside legal counsel that a registration statement covering resales of the Holder Shares has been declared
effective by the SEC under the 1933 Act is attached hereto. We will inform you of any stop orders or other transfer restrictions.

 

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

 

	 	Very truly yours,
	 	 
	 	Atomera Incorporated
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

THE FOREGOING INSTRUCTIONS ARE

ACKNOWLEDGED AND AGREED TO

 

this ___ day of ________________, 201[_]

 

[TRANSFER AGENT]

 

	By: 	 	 	 
	 	Name:	 	 
	 	Title:	 	 

 

Enclosures

 

Copy: Holder

 

    	 	 	 

     

    

 

SCHEDULE A

 

LIST OF HOLDERS

 

	Name	 	Address
	National Securities Corporation	 	
        410 Park Avenue, 14th Floor

        New York, NY 10022

	Liquid Patent Consulting, LLC	 	
        12100 Wilshire Blvd., Suite 800

        Los Angeles, CA 90025

 

    	 	 	 

     

    

 

SCHEDULE B

 

SELLING STOCKHOLDERS

 

The shares of common stock
being offered by the selling stockholders are those issuable to the selling stockholders upon [conversion of the notes and exercise
of the warrants]. For additional information regarding the issuance of the [notes and the warrants], see “Private Placement
of Notes” above. We are registering the shares of common stock in order to permit the selling stockholders to offer the shares
for resale [from time to time]. Except for the ownership of [the notes issued pursuant to and in connection with the Securities
Purchase Agreement, and the warrants issued pursuant to and the agreements governing our engagement of National Securities Corporation
as a placement agent for the private placement of the notes and the engagement of National Securities Corporation as an underwriter
for a public offering of common stock by the Company] the selling stockholders have not had any material relationship with us within
the past three years.

 

The table below lists the
selling stockholders and other information regarding the beneficial ownership (as determined under Section 13(d) of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder) of the shares of common stock held by each of the selling
stockholders. The second column lists the number of shares of common stock beneficially owned by the selling stockholders, based
on their respective ownership of shares of common stock [, notes and warrants,] as of ________, 20__, [assuming conversion of the
notes and exercise of the warrants held by each such selling stockholder on that date but taking account of any limitations on
conversion and exercise set forth therein].

 

The third column lists
the shares of common stock being offered by this prospectus by the selling stockholders [and does not take into account any limitations
on (i) conversion of the notes set forth therein or (ii) exercise of the warrants set forth therein].

 

In accordance with the
terms of a registration rights agreement with the holders of the notes and the warrants, this prospectus generally covers the resale
of [(i) the shares of common stock issued upon conversion of the notes and (ii) the maximum number of shares of common stock issuable
upon exercise of the warrants, in each case, determined as if the outstanding notes and warrants were converted or exercised (as
the case may be) in full (without regard to any limitations on conversion or exercise contained therein) as of the trading day
immediately preceding the date this registration statement was initially filed with the SEC]. Because the conversion price of the
notes and the exercise price of the warrants may be adjusted, the number of shares that will actually be issued may be more or
less than the number of shares being offered by this prospectus. The fourth column assumes the sale of all of the shares offered
by the selling stockholders pursuant to this prospectus.

 

See “Plan of Distribution.”

 

    	 	 	 

     

    

 

	

 Name of Selling Stockholder	 	Number of Shares of

Common Stock 

Owned Prior to the 

Offering	 	Maximum Number of  

Shares of Common 

Stock to be Sold 

Pursuant to this 

Prospectus	 	Number of  Shares of

Common Stock 

Owned After the 

Offering
	 	 	 	 	 	 	 

 

[Notes (1) . . .]

 

    	 	 	 

     

    

 

PLAN OF DISTRIBUTION

 

We are registering the
shares of common stock issued upon [conversion of the notes and issuable on exercise of the warrants] to permit the resale of these
shares of common stock by the holders of [the notes and warrants] [from time to time] after the date of this prospectus. We will
not receive any of the proceeds from the sale by the selling stockholders of the shares of common stock. We will bear all fees
and expenses incident to our obligation to register the shares of common stock.

 

The selling stockholders
may sell all or a portion of the shares of common stock held by them and offered hereby [from time to time] [directly or] through
one or more underwriters, broker-dealers or agents. If the shares of common stock are sold through underwriters or broker-dealers,
the selling stockholders will be responsible for underwriting discounts or commissions or agent’s commissions. The shares
of common stock may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at
varying prices determined at the time of sale or at negotiated prices. These sales may be effected in transactions, which may involve
crosses or block transactions, pursuant to one or more of the following methods:

 

		·	on any national securities exchange or quotation service on which the securities may be listed
or quoted at the time of sale;

		·	in the over-the-counter market;

		·	in transactions otherwise than on these exchanges or systems or in the over-the-counter market;

		·	through the writing or settlement of options, whether such options are listed on an options exchange
or otherwise;

		·	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

		·	block trades in which the broker-dealer will attempt to sell the shares as agent but may position
and resell a portion of the block as principal to facilitate the transaction;

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

		·	an exchange distribution in accordance with the rules of the applicable exchange;

		·	privately negotiated transactions;

		·	short sales made after the date the Registration Statement is declared effective by the SEC;

		·	broker-dealers may agree with a selling security holder to sell a specified number of such shares
at a stipulated price per share;

		·	a combination of any such methods of sale; and

		·	any other method permitted pursuant to applicable law.

 

The selling stockholders
may also sell shares of common stock under Rule 144 promulgated under the Securities Act of 1933, as amended, if available, rather
than under this prospectus. In addition, the selling stockholders may transfer the shares of common stock by other means not described
in this prospectus. If the selling stockholders effect such transactions by selling shares of common stock to or through underwriters,
broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions
or commissions from the selling stockholders or commissions from purchasers of the shares of common stock for whom they may act
as agent or to whom they may sell as principal (which discounts, concessions or commissions as to particular underwriters, broker-dealers
or agents may be in excess of those customary in the types of transactions involved). In connection with sales of the shares of
common stock or otherwise, the selling stockholders may enter into hedging transactions with broker-dealers, which may in turn
engage in short sales of the shares of common stock in the course of hedging in positions they assume. The selling stockholders
may also sell shares of common stock short and deliver shares of common stock covered by this prospectus to close out short positions
and to return borrowed shares in connection with such short sales. The selling stockholders may also loan or pledge shares of common
stock to broker-dealers that in turn may sell such shares.

 

    	 	 	 

     

    

 

The selling stockholders
may pledge or grant a security interest in some or all of the [notes, warrants or] shares of common stock owned by them and, if
they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the shares of
common stock from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3) or other applicable
provision of the Securities Act amending, if necessary, the list of selling stockholders to include the pledgee, transferee or
other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer and donate
the shares of common stock in other circumstances in which case the transferees, donees, pledgees or other successors in interest
will be the selling beneficial owners for purposes of this prospectus.

 

To the extent required
by the Securities Act and the rules and regulations thereunder, the selling stockholders and any broker-dealer participating in
the distribution of the shares of common stock may be deemed to be “underwriters” within the meaning of the Securities
Act, and any commission paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed to be underwriting
commissions or discounts under the Securities Act. At the time a particular offering of the shares of common stock is made, a prospectus
supplement, if required, will be distributed, which will set forth the aggregate amount of shares of common stock being offered
and the terms of the offering, including the name or names of any broker-dealers or agents, any discounts, commissions and other
terms constituting compensation from the selling stockholders and any discounts, commissions or concessions allowed or re-allowed
or paid to broker-dealers.

 

Under the securities laws
of some states, the shares of common stock may be sold in such states only through registered or licensed brokers or dealers. In
addition, in some states the shares of common stock may not be sold unless such shares have been registered or qualified for sale
in such state or an exemption from registration or qualification is available and is complied with.

 

There can be no assurance
that any selling stockholder will sell any or all of the shares of common stock registered pursuant to the registration statement,
of which this prospectus forms a part.

 

The selling stockholders
and any other person participating in such distribution will be subject to applicable provisions of the Securities Act of 1933,
as amended, and the Securities Exchange Act of 1934, as amended, and in each case together with the rules and regulations thereunder,
including, without limitation, to the extent applicable, Regulation M of the Exchange Act, which may limit the timing of purchases
and sales of any of the shares of common stock by the selling stockholders and any other participating person. To the extent applicable,
Regulation M may also restrict the ability of any person engaged in the distribution of the shares of common stock to engage in
market-making activities with respect to the shares of common stock. All of the foregoing may affect the marketability of the shares
of common stock and the ability of any Person to engage in market-making activities with respect to the shares of common stock.

 

We will pay all expenses
of the registration of the shares of common stock pursuant to the registration rights agreement, estimated to be $[     ]
in total, including, without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities
or “blue sky” laws; provided, however, a selling stockholder will pay all underwriting discounts and selling commissions,
if any. We will indemnify the selling stockholders against liabilities, including some liabilities under the Securities Act in
accordance with the registration rights agreements or the selling stockholders will be entitled to contribution. We may be indemnified
by the selling stockholders against civil liabilities, including liabilities under the Securities Act that may arise from any written
information furnished to us by the selling stockholder specifically for use in this prospectus, in accordance with the related
registration rights agreements or we may be entitled to contribution.

 

    	 	 	 

     

    

 

Once sold under the registration statement,
of which this prospectus forms a part, the shares of common stock will be freely tradable in the hands of persons other than our
affiliates.Exhibit 4.1

 

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

 

OF

 

FULL SPECTRUM INC.

 

a Delaware Corporation

 

 Full Spectrum
Inc., a corporation organized and existing under the laws of the State of Delaware (the "Corporation"), certifies
that:

 

A.           The
name of the Corporation is Full Spectrum Inc. The Corporation's original Certificate of Incorporation was filed with the Secretary
of State of the State of Delaware on February 16, 2006.

 

B.           This
Amended and Restated Certificate of Incorporation was duly adopted in accordance with Sections 242 and 245 of the General
Corporation Law of the State of Delaware, and restates, integrates and further amends the provisions of the Corporation’s
Certificate of Incorporation.

 

C.           The
text of the Certificate of Incorporation, as amended and restated, is amended and restated to read as set forth in Exhibit A
attached hereto.

 

In
Witness Whereof, Full Spectrum, Inc. has caused this Amended and Restated Certificate of Incorporation to be signed
by Stewart Kantor, a duly authorized officer of the Corporation, on December __, 2015.

 

	 	 
	 	Stewart Kantor
	 	Chief Executive Officer and Secretary

 

    	 	 	 

     

    

  

Exhibit A

 

ARTICLE FIRST: 
The name of this corporation is Full Spectrum Inc. (the “Corporation”).

 

ARTICLE SECOND: 
The address of the Corporation’s registered office in the State of Delaware is: 615 South DuPont Highway, Dover, Kent
County, Delaware, 19901. The name of its registered agent at such address is National Corporate Research, Ltd.

 

ARTICLE THIRD: 
The purpose of the Corporation is to engage in any lawful act or activity for which a corporation may be organized under the
General Corporation Law of Delaware, as it may be amended from time to time.

 

ARTICLE FOURTH:

 

A.           This
Corporation is authorized to issue two classes of stock to be designated, respectively, “Common Stock” and “Preferred
Stock.” The total number of shares of stock which the Corporation shall have the authority to issue is 100,000,000. The total
number of shares of Common Stock that the Corporation is authorized to issue is 80,000,000, with a par value of $0.00001 per share
(the “Common Stock”). Subject to the rights of any holders of any series of Preferred Stock, each share of Common Stock
shall entitle the holder thereof to one (1) vote on each matter submitted to a vote at any meeting of stockholders. The total number
of shares of Preferred Stock that the Corporation is authorized to issue is 20,000,000, with a par value of $0.00001 per share
(the “Preferred Stock”).

 

B.           The
Preferred Stock may be issued from time to time in one or more series.  The Board of Directors of the Corporation (the
“Board”) is hereby authorized to provide for the issue of all or any of the shares of Preferred Stock in one or more
series, and to fix the number of shares and to determine or alter for each such series such voting powers, full or limited, or
no voting powers, and such designations, preferences, and relative, participating, optional, or other rights, and such qualifications,
limitations, or restrictions thereof, as shall be stated and expressed in the resolution or resolutions adopted by the Board providing
for the issue of such shares and as may be permitted by the General Corporation Law of the State of Delaware (“DGCL”).  The
Board is also hereby authorized to increase or decrease (but not below the number of shares of such series then outstanding) the
number of shares of any series subsequent to the issue of shares of that series.  In case the number of shares of any
such series shall be so decreased, the shares constituting such decrease shall resume the status that they had prior to the adoption
of the resolution originally fixing the number of shares of such series.

 

    	 	 	 

     

    

  

C.           The
number of authorized shares of Common Stock or Preferred Stock may be increased or decreased (but not below the number of shares
of such class then outstanding) by the vote of a majority of the outstanding shares of stock entitled to vote thereon, and no separate
class vote of either the Common Stock or the Preferred Stock shall be required to effect any such amendment.

 

ARTICLE FIFTH:

 

A.         The
business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors. In addition to the
powers and authority expressly conferred upon them by statute or by this Amended and Restated Certificate of Incorporation or the
Bylaws of the Corporation, the directors are hereby empowered to exercise all such powers and do all such acts and things as may
be exercised or done by the Corporation.

  

B.           In
furtherance and not in limitation of the powers conferred by the laws of the State of Delaware, the Board of Directors of the Corporation
is expressly authorized to make, alter and repeal the Bylaws of the Corporation. The affirmative vote of at least a majority of
the Board of Directors then in office shall be required in order for the Board to adopt, amend, alter or repeal the Corporation’s
Bylaws. The Corporation’s Bylaws may also be adopted, amended, altered or repealed by the stockholders of the Corporation
in accordance with the Bylaws. No Bylaw hereafter legally amended, altered or repealed shall invalidate any prior act of the directors
or officers of the Corporation that would have been valid if such Bylaw had not been amended, altered or repealed.

 

C.           The
directors of the Corporation need not be elected by written ballot unless the Bylaws so provide.

 

D.          Unless the Corporation
consents in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall be the sole
and exclusive forum for (i) any derivative action or proceeding brought on behalf of the Corporation, (ii) any action asserting
a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Corporation to the Corporation or
the Corporation’s stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL, or (iv)
any action asserting a claim governed by the internal affairs doctrine. Any person or entity purchasing or otherwise acquiring
any interest in shares of capital stock of the Corporation shall be deemed to have notice of and consented to the provisions of
this Article FIFTH, Section D.

 

    	 	 	 

     

    

  

ARTICLE SIXTH:

 

A.           The
Corporation shall indemnify and hold harmless, to the fullest extent permitted by applicable law as it presently exists or may
hereafter be amended (but, in the case of any such amendment, only to the extent that such amendment permits the Corporation to
provide broader indemnification rights than said law permitted the Corporation to provide prior to such amendment), any person
(a “Covered Person”) who was or is a party or is threatened to be made a party to, or is otherwise involved in, any
threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative in nature
(a “proceeding”), by reason of the fact that such Covered Person, or a person for whom he or she is the legal representative,
is or was, at any time during which this Section A of Article Sixth is in effect (whether or not such Covered Person
continues to serve in such capacity at the time any indemnification or payment of expenses pursuant hereto is sought or at the
time any proceeding relating thereto exists or is brought), a director or officer of the Corporation, or has or had agreed to become
a director of the Corporation, or is or was serving at the request of the Corporation as a director, officer, trustee, employee
or agent of another corporation, limited liability company, partnership, joint venture, employee benefit plan, trust, nonprofit
entity or other enterprise, whether the basis of such proceeding is alleged action in an official capacity as a director, officer,
trustee, employee or agent or in any other capacity while serving as a director, officer, trustee, employee or agent, against all
liability and loss suffered (including, without limitation, any judgments, fines, ERISA excise taxes or penalties and amounts paid
in settlement) and expenses (including attorneys’ fees), actually and reasonably incurred by such Covered Person in connection
with such proceeding to the fullest extent permitted by law, and such indemnification shall continue as to a person who has ceased
to be a director, officer, trustee, employee or agent and shall inure to the benefit of his or her heirs, executors and administrators;
provided however, that, except as provided in Section B of this Article Sixth, the Corporation shall be required to indemnify
a person in connection with a proceeding (or part thereof) initiated by such person only if the proceeding (or part thereof) was
authorized by the Board. The right to indemnification conferred in this Section A of Article Sixth and such rights as
may be conferred in the Bylaws of the Corporation shall include the right to be paid by the Corporation the expenses (including
attorneys’ fees) incurred by a Covered Person in defending any such proceeding in advance of its final disposition. The rights
conferred upon Covered Persons in this Section A of Article Sixth shall be contract rights that vest at the time of such
person’s service to or at the request of the Corporation and such rights shall continue as to a Covered Person who has ceased
to be a director, officer, trustee, employee or agent and shall inure to the benefit of the indemnitee’s heirs, executors
and administrators. The Corporation may, by action of the Board, provide indemnification to employees and agents of the Corporation
with the same (or lesser) scope and effect as the foregoing indemnification of directors and officers.

 

B.           In
accordance with the Bylaws of the Corporation, if a claim for indemnification under Section A of this Article Sixth is
not paid in full within sixty (60) days after a written claim has been received by the Corporation, the Covered Person making such
claim may at any time thereafter file suit to recover the unpaid amount of such claim and, if successful in whole or in part, shall
be entitled to be paid the expense of prosecuting such claim.

 

    	 	 	 

     

    

  

C.           In
accordance with the Bylaws of the Corporation, the right to indemnification and the payment of expenses incurred in defending a
proceeding in advance of its final disposition conferred any Covered Person by Section A of this Article Sixth (i) shall
not be exclusive of any other rights which such Covered Person may have or hereafter acquire under any statute, provision of this
Certificate of Incorporation, the Bylaws, agreement, vote of stockholders or disinterested directors or otherwise and (ii) cannot
be terminated by the Corporation, the Board of Directors or the stockholders of the Corporation with respect to a Covered Person’s
service occurring prior to the date of such termination.

 

D.           If
and to the extent that the Corporation may from time to time be or become subject to certain provisions of the California General
Corporation Law (the “CGCL”) pursuant to Section 2115 thereof, then, as authorized by Section 317(g)
of the CGCL, for the duration of any such period, the Corporation is authorized to indemnify officers, directors, employees and
agents of the Corporation (or any other person to which applicable law permits the Corporation to provide indemnification) in excess
of that which is otherwise permitted under Section 317 of the CGCL, subject only to the limits created by applicable Delaware
law (statutory or non-statutory) with respect to actions for breach of duty to the Corporation, its stockholders or others

 

ARTICLE SEVENTH: 
The Corporation may purchase and maintain insurance, at its expense, on behalf of any person who is or was a director, officer,
employee or agent of the Corporation, or is or was a director, officer, employee or agent of the Corporation serving at the request
of the Corporation as a director, officer, employee or agent of another corporation, limited liability company, partnership, joint
venture, trust, employee benefit plan or other enterprise against any liability, expense or loss asserted against such person and
incurred by such person in any such capacity, or arising out of such person’s status as such, whether or not the Corporation
would have the power or the obligation to indemnify such person against such liability, expense or loss under the provisions of
the Bylaws of the Corporation or the General Corporation Law of the State of Delaware. To the extent that the Corporation maintains
any policy or policies providing such insurance, each such person shall be covered by such policy or policies in accordance with
its or their terms to the maximum extent of the coverage thereunder for any such person.

 

IN WITNESS WHEREOF, the Corporation
has caused this certificate to be executed by its duly authorized officer on this ____ day of December, 2015.

 

	/s/ Stewart Kantor	 
	Stuart Kantor	 
	Chief Executive Officer

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