Document:

DEALER-MANAGER
AGREEMENT

 

July
__, 2016

 

Source
Capital Group, Inc.

As
Dealer-Manager

276
Post Road West

Westport,
CT 06880

 

Ladies
and Gentlemen:

 

The
following will confirm our agreement relating to the proposed subscription rights offering (the “Rights Offering”)
to be undertaken by IEG Holdings Corporation, a Florida corporation (the “Company”), pursuant to which the
Company will distribute to holders of record of its common stock, par value $0.001 per share (the “Common Stock”),
subscription rights to purchase up to 95,319,741 shares of its Common Stock (the “Rights”) as set forth in
the Company’s Form S-1 registration statement (File No. 333-211636) filed with the U.S. Securities and Exchange Commission
(the “Commission”) on May 26, 2016, as amended, to subscribe for and purchase shares of Common Stock (the “Rights
Shares”) at a subscription price to be determined by mutual agreement of the Company and the Dealer-Manager prior to
the completion of the Rights Offering (the “Subscription Price”).

 

1.The
Rights Offering.

 

(a)The
Company proposes to undertake the Rights Offering pursuant to which each holder of Common Stock shall receive one Stock Right
for each share of Common Stock held of record at the close of business on _________, 2016 (the “Record Date”).
Holders of Rights (each a “Holder”) will be entitled to subscribe for and purchase, at the Subscription Price,
one share of Common Stock for every Stock Right granted to Holders on the Record Date (the “Basic Subscription Right”);
provided that, the Rights may only be exercised for a maximum of $100,000,000 of subscription proceeds. 

 

(b)The
Rights shall be non-transferable. The Rights Shares are expected to be quoted on the OTCQX Marketplace and shall be transferable
in accordance with applicable state “blue sky” laws, rules and regulations.

 

(c)Any
holder of Rights who fully exercises all Basic Subscription Rights issued to such holder is entitled to subscribe for Rights Shares
which were not otherwise subscribed for by others pursuant to their Basic Subscription Rights (the “Over-Subscription
Right”). The Over-Subscription Right shall allow a holder of a Right to subscribe for an additional amount equal to
any and all of the Rights Shares which were not otherwise subscribed for as of the Expiration Date (as defined below). Rights
Shares acquired pursuant to the Over-Subscription Rights are subject to allotment and pro rata allocation, as more fully discussed
in the Prospectus (as defined herein).

 

    	 	 	 

    	 	 	 

    

 

(d)The
Rights will expire at 5:00 p.m., New York City time, on ___________, 2016, (the “Expiration Date”). The Company
shall have the right to extend the Expiration Date for up to an additional 30 days in its sole discretion.

 

(e)All
funds from the exercise of Basic Subscription Rights and Over-Subscription Rights will be deposited with Computershare Inc., as
the subscription agent (the “Subscription Agent”), and held in a segregated account with the Subscription Agent
pending a final determination of the number of Rights Shares to be issued pursuant to the exercise of Basic Subscription Rights
and Over-Subscription Rights. As soon as is practicable after the Expiration Date, the Company shall conduct a closing of the
Rights Offering (a “Closing”). In no event will the Company raise more than $100,000,000 in this Rights Offering.

 

2.Appointment
as Dealer-Manager; Role of Dealer-Manager. The Company hereby engages Source Capital Group, Inc. (“Source”)
as the exclusive dealer-manager (the “Dealer-Manager”) in connection with the Rights Offering, and authorizes
the Dealer-Manager to act as such on its behalf in connection with the Rights Offering, in accordance with this Dealer-Manager
Agreement (this “Agreement”). During the Engagement Period, as defined in the engagement letter entered into
by and between the Company and the Dealer-Manager, dated April 1, 2016 (the “Engagement Letter”), the Company
will not solicit, negotiate with or enter into any agreement with any placement agent, financial advisor, dealer-manager, brokers,
dealers or underwriters or any other person or entity in connection with the Rights Offering. On the basis of the representations
and warranties and agreements of the Company contained in this Agreement and subject to and in accordance with the terms and conditions
hereof, the Dealer-Manager agrees that as Dealer-Manager it will, in accordance with its customary practice and to the extent
requested by the Company, use its commercially reasonable efforts to (i) advise on pricing, structuring and other terms and conditions
of the Rights Offering, including whether to provide for transferability, tradability and oversubscription rights and limits (it
being acknowledged that such services have been previously provided pursuant to the Engagement Letter without compensation therefor),
(ii) provide guidance on general market conditions and their impact on the Rights Offering, (iii) assist the Company in drafting
a presentation that may be used to market the Rights Offering to existing and potential investors, describing the proposed capital
raising, the Company’s history and performance to date, track records of key executives, highlights of the Company’s
business plan and the intended use of proceeds from the Rights Offering, (iv) advise on the selection of the Information Agent
and Subscription Agent (it being acknowledged that such advice has been previously rendered pursuant to the Engagement Letter),
(v) assist the Company with its understanding of state blue sky laws and retaining of Issuer counsel to assist with the blue sky
filings related to the Rights Offering and (vi) solicit the holders of the Rights to encourage them to exercise such Rights. For
the avoidance of doubt and notwithstanding anything that may be to the contrary in this Agreement, the Company and the Dealer-Manager
hereby agree that the Dealer-Manager will not underwrite the Rights Offering, the Dealer-Manager has no obligation to act, and
will not act, in any capacity as an underwriter in connection with the Rights Offering and the Dealer-Manager has no obligation
to purchase or procure purchases of the Rights Shares offered in connection with the Rights Offering. Except as set forth herein,
the Company agrees that it will not hold the Dealer-Manager liable or responsible for the failure of the Rights Offering in the
event that the Rights Offering is not successfully consummated for any reason.

 

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3.No
Liability for Acts of Brokers, Dealers, Banks and Trust Companies. The Dealer-Manager shall not be subject to any liability
to the Company or any of the Company’s Subsidiaries (as defined below) or “affiliates” (“Affiliates,”
as such term is defined in Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”)) for
any act or omission on the part of any broker or dealer in securities (other than the Dealer-Manager) or any natural person, partnership,
limited liability partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated
association, joint venture, or other entity or organization (each, a “Person”), and the Dealer-Manager shall
not be liable for its own acts or omissions in performing its obligations as advisor or Dealer-Manager hereunder or otherwise
in connection with the Rights Offering or the related transactions. In soliciting or obtaining exercises of Rights, the Dealer-Manager
shall not be deemed to be acting as the agent of the Company or as the agent of any broker, dealer, bank or trust company, and
no broker, dealer, bank or trust company shall be deemed to be acting as the Dealer-Manager’s agent or as the agent of the
Company. As used herein, the term “Subsidiary” means a Subsidiary of the Company as defined in Rule 405 of
the Securities Act. Unless the context specifically requires otherwise, the term “Company” as used in this
Agreement means the Company and its Subsidiaries collectively on a consolidated basis.

 

4.The
Offer Documents.

 

(a)There
will be used in connection with the Rights Offering certain materials in addition to the Registration Statement, Preliminary Prospectus
and any Prospectus Supplement as filed (each as defined herein), including: (i) all exhibits to the Registration Statement which
pertain to the conduct of the Rights Offering, (ii) any soliciting materials relating to the Rights Offering approved by the Company
and (iii) any free writing prospectus with respect to the Rights Offering filed by the Company (collectively with the Registration
Statement and the Prospectus, the “Offer Documents”). The Dealer-Manager shall be given an opportunity to review
and comment upon the Offer Documents.

 

(b)The
Company agrees to furnish the Dealer-Manager with as many copies as it may reasonably request of the final forms of the Offer
Documents and the Dealer-Manager is authorized to use copies of the Offer Documents in connection with its acting as Dealer-Manager.
The Dealer-Manager hereby agrees that it will not disseminate any written material for or in connection with the solicitation
of exercises of Rights pursuant to the Rights Offering other than the Offer Documents.

 

(c)The
Company represents and agrees that no solicitation material, other than the Offer Documents and the documents to be filed therewith
as exhibits thereto (each in the form of which has been approved by the Dealer-Manager), will be used in connection with the Rights
Offering by or on behalf of the Company without the prior approval of the Dealer-Manager, which approval will not be unreasonably
withheld. In the event that the Company uses or permits the use of any such solicitation material in connection with the Rights
Offering, then the Dealer-Manager shall be entitled to withdraw as Dealer-Manager in connection with the Rights Offering and the
related transactions without any liability or penalty to the Dealer-Manager or any other Person identified in Section 11 hereof
as an “indemnified party,” and the Dealer-Manager shall be entitled to receive the payment of all fees and expenses
payable under this Agreement or the Engagement Letter which have accrued to the date of such withdrawal or which otherwise thereafter
become payable.

 

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(d)As
of the date hereof and at all times prior to and following the effectiveness of the Registration statement, the Company and its
officers, directors and Affiliates shall abide by all rules and regulations of the Commission relating to public offerings, including,
without limitation, those relating to public statements and disclosures of material non-public information.

 

5.Representations
and Warranties. The Company represents and warrants to the Dealer-Manager that:

 

(a)The
Company has prepared and filed with the Commission a registration statement, and an amendment or amendments thereto, on Form S-1
(File No. 333-211636) including a Preliminary Prospectus (as defined below) for the registration of the Rights and Rights Shares
under the Securities Act, which Registration Statement, as so amended prior to the Effective Time (including post-effective amendments,
if any), has been declared effective by the Commission and copies of which have heretofore been delivered to the Dealer-Manager.
At the time of such filing, the Company met the requirements of Form S-1 under the Securities Act. Promptly after execution and
delivery of this Agreement, the Company will prepare and file a prospectus in accordance with the provisions of Rule 430A (“Rule
430A”) of the rules and regulations of the Commission under the Securities Act (the “Securities Act Regulations”)
and paragraph (b) of Rule 424 (“Rule 424(b)”) of the Securities Act Regulations. The information included in
such prospectus that was omitted from such Registration Statement at the time it became effective but that is deemed to be part
of such Registration Statement at the time it became effective pursuant to paragraph (b) of Rule 430A is referred to as “Rule
430A Information.” The Preliminary Prospectus and each prospectus used before such Registration Statement became effective,
and any prospectus that omitted the Rule 430A Information that was used after such effectiveness and prior to the execution and
delivery of this Agreement, is referred to herein as a “Preliminary Prospectus.” For purposes of this Agreement,
“Effective Time” means the date and the time as of which such registration statement, or the most recent post-effective
amendment thereto, if any, was declared effective by the Commission; “Effective Date” means the date of the
Effective Time; “Registration Statement” means such Registration Statement, as amended at the Effective Time,
including any documents which are exhibits thereto; and “Prospectus” means such final prospectus, as first
filed with the Commission pursuant to paragraph (1) or (4) of Rule 424(b) of the Securities Act, including the Preliminary Prospectus
all information or reports under the Securities Exchange Act of 1934, as amended, incorporated in the Prospectus by reference.
The Commission has not issued any order preventing or suspending the use of any Preliminary Prospectus or the Prospectus. All
references in this Agreement to the Registration Statement, a Preliminary Prospectus, and the Prospectus, or any amendments or
supplements to any of the foregoing shall be deemed to include any copy thereof filed with the Commission pursuant to its Electronic
Data Gathering, Analysis and Retrieval System (“EDGAR”). The Prospectus delivered to the Dealer-Manager for
use in connection with the Rights Offering will be identical to the electronically transmitted copies thereof filed with the Commission
pursuant to EDGAR, except to the extent permitted by Regulation S-T promulgated by the Commission.

 

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(b)The
Registration Statement (together with all exhibits filed as part of the Registration Statement) conforms, and any Preliminary
Prospectus and the Prospectus and any further amendments or supplements to the Registration Statement conforms or will conform,
when they are filed with or become effective by the Commission, as the case may be, in each case, in all material respects to
the requirements of the Securities Act and collectively do not and will not, as of the applicable Effective Date (as to the Registration
Statement and any amendment thereto) and as of the applicable filing date (as to the Prospectus and any amendment or supplement
thereto) contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary
to make the statements therein (with respect to the Prospectus, in the light of the circumstances under which they were made)
not misleading; provided that no representation or warranty is made by the Company as to information contained in or omitted from
the Registration Statement or the Prospectus in reliance upon and in conformity with written information furnished to the Company
by or on behalf of the Dealer-Manager specifically for inclusion therein, it being acknowledged and agreed that such information
provided by or on behalf of the Dealer-Manager consists solely and exclusively of disclosure of the name of the Dealer-Manager
acting in its capacity as dealer-manager for the Rights Offering contained in the Prospectus (collectively, the “Dealer-Manager
Information”) under appropriate headings and in its final form as approved by the Dealer-Manager and its counsel.

 

(c)There
are no contracts, agreements, plans or other documents which are required to be described in the Prospectus or filed as exhibits
to the Registration Statement by the Securities Act which have not been described in the Prospectus or filed as exhibits to the
Registration Statement or referred to in, or incorporated by reference into, the exhibit table of the Registration Statement as
permitted by the Securities Act.

 

(d)The
Company and each of its Subsidiaries have been duly incorporated and are validly existing as corporations in good standing under
the laws of their respective jurisdictions of incorporation, are duly qualified to do business and are in good standing as foreign
corporations in each jurisdiction in which their respective ownership or lease of property or the conduct of their respective
businesses requires such qualification, and have all power and authority necessary to own or hold their respective properties
and to conduct the businesses in which they are engaged, except where the absence of such power or authority (either individually
and in the aggregate) could not reasonably be expected to have a material adverse effect on: (i) the business, condition (financial
or otherwise), results of operations, shareholders’ equity, properties or prospects (as such prospects are disclosed or
described in the Prospectus) of the Company or its Subsidiaries; (ii) the long-term debt or capital stock of the Company or its
Subsidiaries; or (iii) the Rights Offering or consummation of any of the other transactions contemplated by this Agreement, the
Registration Statement or the Prospectus (any such effect being a “Material Adverse Effect”).

 

(e)This
Agreement has been duly authorized, executed and delivered by the Company and, assuming the due authorization, execution and delivery
by the Dealer-Manager, constitutes the valid and legally binding agreement of the Company, enforceable against the Company in
accordance with its terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws relating to or affecting creditors’ rights generally and by general principles of equity.

 

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(f)Neither
the Company nor any of its Subsidiaries: (i) is in violation of its charter or by-laws, (ii) in default under or in breach of,
and no event has occurred which, with notice or lapse of time or both, would constitute a default or breach under or result in
the creation or imposition of any lien, charge, mortgage, pledge, security interest, claim, equity, trust or other encumbrance,
preferential arrangement, defect or restriction of any kind whatsoever (each, a “Lien”) upon any of their property
or assets pursuant to, any material contract, agreement, indenture, mortgage, deed of trust, loan agreement or other agreement
or instrument to which it is a party or by which it is bound or to which any of its properties or assets is subject, or (iii)
is in violation in any respect of any law, rule, regulation, ordinance, directive, judgment, decree or order, foreign and domestic,
to which it or its properties or assets may be subject or has failed to obtain any material license, permit, certificate, franchise
or other governmental authorization or permit necessary to the ownership of its properties or assets or to the conduct of its
business, except, in the case of clauses (ii) and (iii) above, any violation, default or failure to possess the same that would
not have a Material Adverse Effect.

 

(g)Prior
to or on the date hereof: (i) the Company and the Subscription Agent have or will have entered into a subscription agency agreement
(the “Subscription Agency Agreement”) if required by the Subscription Agent and (ii) the Company and ____________
(the “Information Agent”) have or will have entered into an information agency agreement (the “Information
Agency Agreement”) if required by the Information Agent. When executed by the Company, if applicable, each of the Subscription
Agency Agreement and the Information Agency Agreement will have been duly authorized, executed and delivered by the Company and,
assuming due authorization, execution and delivery by Subscription Agent or the Information Agent, as the case may be, will constitute
a valid and legally binding agreement of the Company enforceable in accordance with its terms, except as the enforceability thereof
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws relating to or affecting creditors’
rights generally and by general principles of equity.

 

(h)The
Rights and Rights Shares to be issued and distributed by the Company have been duly and validly authorized and, when issued and
delivered in accordance with the terms of the Offer Documents, will be duly and validly issued, and will constitute valid and
legally binding obligations of the Company enforceable against the Company in accordance with their terms, no holder of the Rights
and Rights Shares is or will be subject to personal liability by reason of being such a holder, and the Rights and Rights Shares
conform to the description thereof contained in the Prospectus. The shares of Common Stock issuable upon exercise of any Rights
have been duly and validly authorized and, when issued and delivered in accordance with the terms of the Rights, will be duly
and validly issued, fully paid and non-assessable and will constitute valid and legally binding obligations of the Company enforceable
against the Company in accordance with their terms, no holder of the Common Stock is or will be subject to personal liability
by reason of being such a holder, and the Common Stock conforms to the description thereof contained in the Prospectus.

 

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(i)Except
as disclosed in the Prospectus with respect to the Company’s authorized capitalization, the Rights Shares have been duly
and validly authorized and reserved for issuance upon exercise of the Rights and are free of statutory and contractual preemptive
rights and are sufficient in number to meet the exercise requirements of the Rights Offering; and the Rights Shares, when so issued
and delivered against payment therefore in accordance with the terms of the Rights Offering, will be duly and validly issued,
fully paid and non-assessable, with no personal liability attaching to the ownership thereof, and will conform to the description
thereof contained in the Prospectus.

 

(j)The
Common Stock is quoted on the OTCQX Marketplace. The Company has not received an oral or written notification from the OTCQX Marketplace
or any court or any other federal, state, local or foreign governmental or regulatory authority having jurisdiction over the Company
or any of its Subsidiaries or any of their properties or assets (“Governmental Authority”) of any inquiry or
investigation or other action that would cause the Common Stock or the Rights Shares to not be quoted on the OTCQX Marketplace.

 

(k)The
Company has an authorized capitalization as set forth under the caption “Capitalization” in the Prospectus,
and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid
and non-assessable and have been issued in compliance with federal and state securities laws. None of the outstanding shares of
Company capital stock were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe
for or purchase securities of the Company. There are no authorized or outstanding options, warrants, preemptive rights, rights
of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for,
any capital stock of the Company or any of its subsidiaries other than those accurately described in the Registration Statement.
The description of the Company’s stock option, stock bonus and other stock plans or arrangements, and the options or other
rights granted thereunder, set forth in the Registration Statement accurately and fairly presents in all material respects the
information required to be shown with respect to such plans, arrangements, options and rights.

 

(l)The
Company and its Subsidiaries own or lease all such assets or properties as are necessary to the conduct of its business as presently
operated and as proposed to be operated as described in the Registration Statement and the Prospectus. Except to the extent leased
by the Company or its Subsidiaries, the Company and its Subsidiaries have good and marketable title in fee simple to all assets
or real property and good and marketable title to all personal property owned by them, in each case free and clear of any Lien,
except for such Liens as are described in the Registration Statement and the Prospectus. Any assets or real property and buildings
held under lease or sublease by the Company or any Subsidiary is held under valid, subsisting and enforceable leases with such
exceptions as are not material to, and do not interfere with, the use made and proposed to be made as described in the Registration
Statement and Prospectus of such property and buildings by the Company or such Subsidiary. Neither the Company nor any Subsidiary
has received any notice of any material claim adverse to its ownership of any real or personal property or of any material claim
against the continued possession of any real property, whether owned or held under lease or sublease by the Company or any Subsidiary.

 

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(m)The
Company and its Subsidiaries have all material consents, approvals, authorizations, orders, registrations, qualifications, licenses,
filings and permits of, with and from all judicial, regulatory and other Governmental Authorities and all third parties, foreign
and domestic (collectively, with the Licensing Requirements described below, the “Consents”), to own, lease
and operate their properties and conduct their businesses as presently being conducted and as disclosed in the Registration Statement
and the Prospectus, and each such Consent is valid and in full force and effect. The Company has not received notice of any investigation
or proceedings which results in or, if decided adversely to the Company, could reasonably be expected to result in, the revocation
of any Consent or reasonably be expected to have a Material Adverse Effect. No Consent contains a materially burdensome restriction
not adequately disclosed in the Registration Statement and the Prospectus.

 

(n)The
execution, delivery and performance of this Agreement by the Company, the issuance of the Rights in accordance with the terms
of the Offer Documents, the issuance of the Rights Shares in accordance with the terms of the Rights Offering, and the consummation
by the Company of the transactions contemplated hereby, the Subscription Agency Agreement and the Information Agency Agreement,
will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under,
any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries
or any of its Affiliates is a party or by which the Company or any of its Subsidiaries or its Affiliates is bound or to which
any of the properties or assets of the Company or any of its Subsidiaries or its Affiliates is subject, nor will such actions
result in any violation of the provisions of the charter or by-laws of the Company or any of its Subsidiaries or any statute or
any order, rule or regulation of any Governmental Authority; and except for the registration of the Rights and the Rights Shares
under the Securities Act and such consents, approvals, authorizations, registrations or qualifications as may be required under
the Exchange Act and applicable state securities laws in connection with the distribution of the Rights and the sale of the Rights
Shares by the Company, no consent, approval, authorization or order of, or filing or registration with, any such court or Governmental
Authority is required for the execution, delivery and performance of this Agreement by the Company and the consummation by it
of the transactions contemplated hereby.

 

(o)Except
as otherwise set forth in the Prospectus, there are no contracts, agreements or understandings between the Company and any Person
granting such Person the right to require the Company to include such securities in the securities registered pursuant to the
Registration Statement. No holder of any security of the Company has any rights of rescission or similar rights with respect to
such securities held by them.

 

(p)Neither
the Company nor any of its Subsidiaries has sustained, since the date of the latest balance sheet included in the Prospectus or
after such date and as disclosed in the Prospectus, any material loss or interference with its business from fire, explosion,
flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order
or decree; and, since such date or after such date and as disclosed in the Prospectus, there has not been any change in the capital
stock or long-term debt of the Company or any of its Subsidiaries or any material adverse change, or any development involving
a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders’
equity, results of operations or prospects (as such prospects are disclosed or described in the Prospectus) of the Company and
its Subsidiaries (a “Material Adverse Change”). Since the date of the latest balance sheet presented in the
Prospectus, the Company has not incurred or undertaken any liabilities or obligations, whether direct or indirect, liquidated
or contingent, matured or unmatured, or entered into any transactions, including any acquisition or disposition of any business
or asset, which are material to the Company, except for liabilities, obligations and transactions which are disclosed in the Registration
Statement, any Preliminary Prospectus and the Prospectus.

 

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(q)Rose,
Snyder & Jacobs LLP (“RSJ”), whose reports relating to the Company are included in the Registration Statement,
are independent registered public accountants as required by the Securities Act, the Exchange Act and the rules and regulations
promulgated by the Public Company Accounting Oversight Board (the “PCAOB”). RSJ, to the best of the Company’s
knowledge, is duly registered and in good standing with the PCAOB. RSJ has not, during the periods covered by the financial statements
included in the Registration Statement, the Preliminary Prospectus and the Prospectus, provided to the Company any non-audit services,
as such term is used in Section 10A(g) of the Exchange Act.

 

(r)The
financial statements, including the notes thereto, and any supporting schedules included in the Registration Statement, any Preliminary
Prospectus and the Prospectus present fairly, in all material respects, the financial position as of the dates indicated and the
cash flows and results of operations for the periods specified of the Company. Except as otherwise stated in the Registration
Statement, any Preliminary Prospectus and the Prospectus, said financial statements have been prepared in conformity with United
States generally accepted accounting principles applied on a consistent basis throughout the periods involved. Any supporting
schedules included in the Registration Statement, any Preliminary Prospectus and the Prospectus present fairly, in all material
respects, the information required to be stated therein. No other financial statements or supporting schedules are required to
be included or incorporated by reference in the Registration Statement. The other financial and statistical information included
in the Registration Statement, any Preliminary Prospectus and the Prospectus present fairly, in all material respects, the information
included therein and have been prepared on a basis consistent with that of the financial statements that are included in the Registration
Statement, such Preliminary Prospectus and the Prospectus and the books and records of the respective entities presented therein.

 

(s)There
are no pro forma or as adjusted financial statements which are required to be included in the Registration Statement, any Preliminary
Prospectus and the Prospectus in accordance with Regulation S-X under the Securities Act which have not been included as so required.
The pro forma and/or as adjusted financial information included in the Registration Statement, any Preliminary Prospectus and
the Prospectus has been properly compiled and prepared in accordance with the applicable requirements of the Securities Act and
include all adjustments necessary to present fairly, in all material respects, in accordance with generally accepted accounting
principles the pro forma and as adjusted financial position of the respective entity or entities presented therein at the respective
dates indicated and their cash flows and the results of operations for the respective periods specified. The assumptions used
in preparing the pro forma and as adjusted financial information included in the Registration Statement, any Preliminary Prospectus
and the Prospectus provide a reasonable basis for presenting the significant effects directly attributable to the transactions
or events described therein. The related pro forma and pro forma as adjusted adjustments give appropriate effect to those assumptions;
and the pro forma and pro forma as adjusted financial information reflect the proper application of those adjustments to the corresponding
historical financial statement amounts.

 

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(t)The
statistical, industry-related and market-related data included in the Registration Statement, any Preliminary Prospectus and the
Prospectus are based on or derived from sources which the Company reasonably believes are reliable and accurate, and such data
agree with the sources from which they are derived. All applicable third party consents have been obtained in order for such data
to be included in the Registration Statement, any Preliminary Prospectus and the Prospectus.

 

(u)Except
as disclosed in the Registration Statement and the Prospectus, the Company maintains a system of internal accounting and other
controls sufficient to provide reasonable assurances that: (i) transactions are executed in accordance with management’s
general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements
in conformity with United States generally accepted accounting principles and to maintain accountability for assets, (iii) access
to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accounting
for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

(v)The
Company’s Board of Directors has validly appointed an audit committee, compensation committee and nominating and corporate
governance committee whose composition satisfies the requirements of the rules and regulations of the Commission and the Company’s
Board of Directors and/or audit committee, compensation committee and the nominating corporate governance committee has each adopted
a charter as described in the Registration Statement, and such charters are in full force and effect as of the date hereof. Neither
the Company’s Board of Directors nor the audit committee thereof has been informed, nor is any director of the Company aware,
of: (i) except as disclosed in the Registration Statement and the Prospectus, any significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s
ability to record, process, summarize and report financial information; or (ii) any fraud, whether or not material, that involves
management or other employees who have a significant role in the Company’s internal control over financial reporting.

 

(w)The
Company is in material compliance with the provisions of the Sarbanes-Oxley Act of 2002, as amended (“Sarbanes-Oxley”)
applicable to the Company, and the rules and regulations promulgated thereunder and related or similar rules and regulations promulgated
by any other Governmental Authority or self-regulatory entity or agency, except for violations which, singly or in the aggregate,
are disclosed in the Prospectus or would not have a Material Adverse Effect.

 

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(x)No
relationship, direct or indirect, exists between or among any of the Company or any Affiliate of the Company, on the one hand,
and any director, officer, shareholder, customer or supplier of the Company or any Affiliate of the Company, on the other hand,
which is required by the Securities Act or the Exchange Act to be described in the Registration Statement or the Prospectus which
is not so described as required. Except as disclosed in the Registration Statement and the Prospectus, there are no outstanding
loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness
by the Company to or for the benefit of any of the officers or directors of the Company or any of their respective family members.
The Company has not, in violation of Sarbanes-Oxley, directly or indirectly, including through any Affiliate of the Company (other
than as permitted under Sarbanes-Oxley for depositary institutions), extended or maintained credit, arranged for the extension
of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or executive officer of the
Company.

 

(y)Except
as described in the Prospectus, there are no legal or governmental proceedings pending to which the Company or any of its Subsidiaries
is a party or of which any property or asset of the Company or any of its Subsidiaries is the subject which, if determined adversely
to the Company or any of its Subsidiaries, are reasonably likely to have a Material Adverse Effect; and to the best of the Company’s
knowledge, except as disclosed in the Prospectus, no such proceedings are threatened or contemplated by Governmental Authorities
or threatened by others.

 

(z)The
Company and its Subsidiaries have filed all necessary federal, state and foreign income and franchise tax returns and have paid
all taxes required to be paid by any of them and, if due and payable, any related or similar assessment, fine or penalty levied
against any of them, except where the failure to make such filings or make such payments, either individually or in the aggregate,
could not reasonably be expected to have, a Material Adverse Effect. The Company has made adequate charges, accruals and reserves
in its financial statements above in respect of all federal, state and foreign income and franchise taxes for all periods as to
which the tax liability of the Company or any of its Subsidiaries has not been finally determined.

 

(aa)Each
of the Company and its Subsidiaries maintains insurance of the types and in the amounts which the Company believes to be reasonable
and sufficient for a company of its size operating in the Company’s industry, including, but not limited to: (i) directors’
and officers’ insurance (including insurance covering the Company, its directors and officers for liabilities or losses
arising in connection with the Rights Offering, including, without limitation, liabilities or losses arising under the Securities
Act, the Exchange Act and applicable foreign securities laws), (ii) insurance covering real and personal property owned or leased
against theft, damage, destruction, acts of vandalism and all other risks customarily insured against and (iii) business interruption
insurance. There are no claims by the Company or any of its Subsidiaries under any policy or instrument described in this paragraph
as to which any insurance company is denying liability or defending under a reservation of rights clause. All of the insurance
policies described in this paragraph are in full force and effect. Neither the Company nor any of its Subsidiaries has been refused
any insurance coverage sought or applied for, and the Company has no reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not have a Material Adverse Effect.

 

    	 	11	 

    	 	 	 

    

 

(bb)The
Company and its Subsidiaries own or possess or have the right to use on reasonable terms all patents, patent rights, patent applications,
licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential
information, systems or procedures), trademarks, service marks, trade names, service names and other intellectual property (collectively,
“Intellectual Property”) necessary to carry on their respective businesses as described in the Prospectus and
as proposed to be conducted; and neither the Company nor any of its Subsidiaries has received any notice or is otherwise aware
of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or
circumstances which would render any Intellectual Property invalid or inadequate to protect the interests of the Company or any
of its Subsidiaries therein, and which infringement or conflict (if the subject of any unfavorable decision, ruling or finding)
or invalidity or inadequacy, individually or in the aggregate, might result in a Material Adverse Effect. All former and current
employees of the Company or any of its Subsidiaries (and, to the Company’s knowledge, all other agents, consultants and
contractors of the Company or any of its subsidiaries who contributed to or participated in the conception or development of any
Intellectual Property for the Company or any of its Subsidiaries) have executed written contracts or agreements that assign to
the Company all rights to any inventions, improvements, discoveries or information relating to the business of the Company and
its subsidiaries, including without limitation all Intellectual Property owned, controlled by or in the possession of the Company
or any of its subsidiaries. To the knowledge of the Company, there is no unauthorized use, infringement or misappropriation of
any of the Intellectual Property by any third party, employee or former employee. Each agreement and instrument (each, a “License
Agreement”) pursuant to which any Intellectual Property is licensed to the Company or any of its subsidiaries is in
full force and effect, has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company
or the applicable subsidiary, as the case may be, enforceable against the Company or such subsidiary in accordance with its terms,
except as enforcement thereof may be subject to bankruptcy, insolvency or other similar laws relating to or affecting creditors’
rights generally or by general equitable principles; the Company and its subsidiaries are in compliance with their respective
obligations under all License Agreements and, to the knowledge of the Company, all other parties to any of the License Agreements
are in compliance with all of their respective obligations thereunder; no event or condition has occurred or exists that gives
or would give any party to any License Agreement the right, either immediately or with notice or passage of time or both, to terminate
or limit (in whole or in part) any such License Agreement or any rights of the Company or any of its subsidiaries thereunder,
to exercise any of such party’s remedies thereunder, or to take any action that would adversely affect any rights of the
Company or any of its subsidiaries thereunder or that might have a Material Adverse Effect and the Company is not aware of any
facts or circumstances that would result in any of the foregoing or give any party to any License Agreement any such right; and
neither the Company nor any of its subsidiaries has received any notice of default, breach or non-compliance under any License
Agreement.

 

    	 	12	 

    	 	 	 

    

 

(cc)Except
as described in any Preliminary Prospectus, the Prospectus and the Registration Statement, the Company: (i) is and at all times
has been in full compliance with all statutes, rules, regulations or guidance applicable to the ownership, testing, development,
manufacture, packaging, processing, use, distribution, marketing, labeling, promotion, sale, offer for sale, storage, import,
export or disposal of any product manufactured, distributed or sold by the Company or any component thereof (such statutes, rules,
regulations or guidance, collectively, “Applicable Laws”); (ii) has not received any notice of adverse finding,
warning letter, untitled letter or other correspondence or notice from any Governmental Authority alleging or asserting noncompliance
with any Applicable Laws or any licenses, certificates, approvals, clearances, authorizations, permits and supplements or amendments
thereto required by any such Applicable Laws (“Authorizations”); (iii) possesses all Authorizations and such
Authorizations are valid and in full force and effect and are not in violation of any term of any such Authorizations; (iv) has
not received notice of any claim, suit, proceeding, hearing, enforcement, audit, investigation, arbitration or other action from
any Governmental Authority or third party alleging that any product operation or activity is in violation of any Applicable Laws
or Authorizations and has no knowledge that any such Governmental Authority or third party is considering any such claim, suit,
proceeding, hearing, enforcement, audit, investigation, arbitration or other action; (v) has not received notice that any Governmental
Authority has taken, is taking or intends to take action to limit, suspend, modify or revoke any Authorizations and has no knowledge
that any such Governmental Authority is considering such action; (vi) has filed, obtained, maintained or submitted all material
reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments as required by any
Applicable Laws or Authorizations and that all such material reports, documents, forms, notices, applications, records, claims,
submissions and supplements or amendments were complete and correct in all material respects on the date filed (or were corrected
or supplemented by a subsequent submission), except, in the case of each of clauses (i), (ii) and (iii), for any default, violation
or event that would not, individually or in the aggregate, have or reasonably be expected to have a Material Adverse Effect.

 

(dd)Neither
the Company nor, to the Company’s knowledge, any of the Company’s directors, officers or employees has violated: (i)
the Bank Secrecy Act, as amended, (ii) the Money Laundering Control Act of 1986, as amended, (iii) the Foreign Corrupt Practices
Act, or (iv) the Uniting and Strengthening of America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
(USA PATRIOT ACT) Act of 2001, and/or the rules and regulations promulgated under any such law, or any successor law, except for
such violations which, singly or in the aggregate, would not have a Material Adverse Effect.

 

(ee)Neither
the Company nor any of its Affiliates has, prior to the date hereof, made any offer or sale of any securities which are required
to be “integrated” pursuant to the Securities Act with the offer and sale of the Rights Shares pursuant to the Registration
Statement.

 

(ff)Except
as described in the Registration Statement and the Prospectus, there are no claims, payments, arrangements, agreements or understandings
relating to the payment of a finder’s, consulting or origination fee or other compensation by the Company with respect to
the issuance or exercise of the Rights or the sale of the Rights Shares or any other arrangements, agreements or understandings
of the Company or, to the Company’s knowledge, the Company’s officers, directors and employees or Affiliates that
may affect the Dealer-Manager’s compensation, as determined by the Financial Industry Regulatory Authority, Inc. (“FINRA”).
Except as previously disclosed by the Company to the Dealer-Manager in writing, no officer, director, or beneficial owner of 5%
or more of any class of the Company’s securities (whether debt or equity, registered or unregistered, regardless of the
time acquired or the source from which derived) or any other Affiliate is a member or a Person associated, or affiliated with
a member of FINRA. No proceeds from the exercise of the Rights will be paid to any FINRA member, or any Persons associated or
affiliated with a member of FINRA, except as specifically contemplated herein. Except as previously disclosed by the Company to
the Dealer-Manager, to the Company’s knowledge, no Person to whom securities of the Company have been privately issued within
the 180-day period prior to the initial filing date of the Registration Statement has any relationship or affiliation or association
with any member of FINRA.

 

    	 	13	 

    	 	 	 

    

 

(gg)There
are no contracts, agreements or understandings between the Company and any Person that would give rise to a valid claim against
the Company or the Dealer-Manager for a brokerage commission, finder’s fee or other like payment in connection with the
transactions contemplated by this Agreement. Other than the Dealer-Manager, the Company has not employed any brokers, dealers
or underwriters in connection with solicitation of exercise of Rights in the Rights Offering, and except provided for in Sections
6 and 7 hereof, no other commissions, fees or discounts will be paid by the Company in connection with solicitation of the exercise
of Rights in the Rights Offering.

 

(hh)Neither
the Company nor, to the Company’s knowledge, any of the Company’s officers, directors, employees or agents has at
any time during the last five (5) years: (i) made any unlawful contribution to any candidate for foreign office, or failed to
disclose fully any contribution in violation of law, or (ii) made any payment to any federal or state governmental officer or
official, or other Person charged with similar public or quasi-public duties, other than payments that are not prohibited by the
laws of the United States of any jurisdiction thereof.

 

(ii)The
Company has not and will not, directly or indirectly through any officer, director or Affiliate of the Company or through any
other Person: (i) taken any action designed to cause or to result in, or that has constituted or which might reasonably be expected
to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the issuance of the
Rights or the sale or resale of the Rights Shares, (ii) since the filing of the Registration Statement sold, bid for or purchased,
or paid any Person (other than the Dealer-Manager) any compensation for soliciting exercises or purchases of, the Rights or the
Rights Shares and (iii) until the later of the expiration of the Rights or the completion of the distribution (within the meaning
of Regulation M under the Exchange Act) of the Rights Shares, sell, bid for or purchase, apply or agree to pay to any Person (other
than the Dealer-Manager) any compensation for soliciting another to purchase any other securities of the Company (except for the
solicitation of the exercises of Rights pursuant to this Agreement). The foregoing shall not apply to the offer, sale, agreement
to sell or delivery with respect to: (i) Rights Shares offered and sold upon exercise of the Rights, as described in the Prospectus,
or (ii) any shares of Common Stock sold pursuant to the Company’s employee benefit plans.

 

(jj)Each
“forward-looking statement” (within the meaning of Section 27A of the Securities Act or Section 21E of the
Exchange Act) included in the Registration Statement and the Prospectus has been made or reaffirmed with a reasonable basis and
has been disclosed in good faith.

 

    	 	14	 

    	 	 	 

    

 

As
used in this Agreement, references to matters being “material” with respect to the Company or any matter relating
to the Company shall mean a material item, event, change, condition, status or effect related to the condition (financial or otherwise),
properties, assets (including intangible assets), liabilities, business, prospects (as such prospects are disclosed or described
in any Preliminary Prospectus or the Prospectus), operations or results of operations of the Company and its Subsidiaries, taken
as a whole.

 

As
used in this Agreement, the term “knowledge of the Company” (or similar language) shall mean the knowledge
of the officers of the Company who are named in the Prospectus, with the assumption that such officers shall have made reasonable
and diligent inquiry of the matters presented (with reference to what is customary and prudent for the applicable individuals
in connection with the discharge by the applicable individuals of their duties as officers or directors of the Company).

 

6.Compensation.
In consideration for its services in the Rights Offering, the Dealer-Manager shall receive a cash fee equal to 8% of the dollar
amount received by the Company from any cash exercise of the Rights issued to investors in the Rights Offering, as a 6% commission,
which commission shall not exceed $8,000,000 in the aggregate, and 2% non-accountable expense fee, which non-accountable expense
fee shall not exceed $2,000,000 in the aggregate, as well as a $10,000 out-of-pocket accountable expense allowance, provided that,
the Company has previously paid the Dealer-Manager a $10,000 advance against such out-of-pocket accountable expense allowance
(the “Advance”). If the Rights Offering is not consummated, the portion of the Advance not used for the Dealer-Manager’s
actual out-of-pocket expenses shall be promptly reimbursed to the Company as required under FINRA Rule 5110(f)(2)(D). All payments
to be made by the Company pursuant to this Section 6 shall be made on the date of the consummation of the subscriptions for Rights
Shares pursuant to the exercise of Rights (the “Closing Date”) by wire transfer of immediately available funds.

 

7.Expenses.
In addition to the Dealer-Manager’s compensation for services hereunder pursuant to Section 6 hereof, the Company shall
pay or cause to be paid:

 

(a)all
expenses (including any taxes) incurred by the Company in connection with the Rights Offering and the preparation, issuance, execution,
authentication and delivery of the Rights and the Rights Shares;

 

(b)all
fees, expenses and disbursements of the Company’s accountants, legal counsel and other third party advisors;

 

(c)all
reasonable and documented costs and expenses of the Dealer-Manager as set forth in the Engagement Letter and Section 6 above and
reimbursable upon any termination of this Agreement only as permitted by FINRA Rule 5110(f)(2)(D);

 

(d)all
fees and expenses of the Subscription Agent and the Information Agent;

 

    	 	15	 

    	 	 	 

    

 

(e)all
fees, expenses and disbursements (including, without limitation, fees and expenses of the Company’s accountants and counsel)
in connection with the preparation, printing, filing, delivery and shipping of the Registration Statement (including the financial
statements therein and all amendments and exhibits thereto), each Preliminary Prospectus, the Prospectus, the other Offer Documents
and any amendments or supplements of the foregoing and any printing, delivery and shipping of this Agreement, the costs of distributing
the terms of any agreement relating to any organization of soliciting dealers, if any, to the members thereof by mail, fax or
other means of communications;

 

(f)all
reasonable fees, expenses and disbursements relating to the registration or qualification of the Rights and Rights Shares under
the “blue sky” securities laws of any states or other jurisdictions and all fees and expenses associated with the
preparation of the preliminary and final forms of Blue Sky Memoranda;

 

(g)all
filing fees of the Commission;

 

(h)all
filing fees relating to the review of the Rights Offering by FINRA;

 

(i)any
applicable listing or other fees;

 

(j)the
cost of printing certificates representing the Rights and Rights Shares;

 

(k)all
advertising charges pertaining to the Rights Offering that have been pre-approved by the Company in writing;

 

(l)the
cost and charges of the Company’s transfer agent(s) or registrar(s); and

 

(m)all
other costs and expenses incident to the performance of the Company’s obligations hereunder for which provision is not otherwise
made in this Section.

 

(n)All
payments to be made by the Company pursuant to this Section 7 shall be made promptly after the termination or expiration of the
Rights Offering or, if later, promptly after the related fees, expenses or charges accrue and an invoice therefor is sent by the
Dealer-Manager. The Company shall perform its obligations set forth in this Section 7 whether or not the Rights Offering commences
or any Rights are exercised pursuant to the Rights Offering, except that the Dealer-Manager’s non-accountable expenses may
only be reimbursed upon Closing. For the avoidance of doubt, except as reimbursed pursuant to the non-accountable expense fee,
the Dealer-Manager shall be responsible for expenses it incurs with respect to the performance of its obligations under this Agreement,
including without limitation expenses it incurs with respect to travel and lodging expenses in connection with “road show”
trips and legal counsel and other third parties engaged by the Dealer-Manager.

 

8.Shareholder
Lists; Subscription Agent; Information Agent.

 

(a)The
Company will cause the Dealer-Manager to be provided with any cards or lists showing the names and addresses of, and the number
of shares of Common Stock held by, the holders of shares of Common Stock as of a recent date and will use its best efforts to
cause the Dealer-Manager to be advised from time to time during the period, as the Dealer-Manager shall request, of the Rights
Offering as to any transfers of record of shares of Common Stock.

 

    	 	16	 

    	 	 	 

    

 

(b)The
Company (i) has arranged for the Subscription Agent to serve as subscription agent in connection with the Rights Offering, (ii)
will arrange for the Subscription Agent to advise the Dealer-Manager regularly as to such matters as the Dealer-Manager may reasonably
request, including the number of Rights that have been exercised, and (iii) will arrange for the Subscription Agent to be responsible
for receiving subscription funds paid.

 

(c)The
Company has arranged for Georgeson LLC to serve as information agent in connection with the Rights Offering (the “Information
Agent” and, together with the Subscription Agent, the “Agents”) and to perform services in connection
with the Rights Offering that are customary for an information agent.

 

9.Covenants
of the Company. The Company covenants and agrees with the Dealer-Manager:

 

(a)To
use its best efforts to cause the Registration Statement and any amendments thereto to become effective; to advise the Dealer-Manager,
promptly after it receives notice thereof, of the time when the Registration Statement, or any amendment thereto, becomes effective
or any supplement to the Prospectus or any amended Prospectus has been filed and to furnish the Dealer-Manager with copies thereof;
to prepare a Prospectus in a form approved by the Dealer-Manager (such approval not to be unreasonably withheld or delayed) and
to file such Prospectus pursuant to Rule 424(b) under the Securities Act within the time prescribed by such rule; to advise the
Dealer-Manager, promptly after it receives notice thereof, of the issuance by the Commission of any stop order or of any order
preventing or suspending the use of any Preliminary Prospectus or the Prospectus, of the suspension of the qualification of the
Rights for offering or sale in any jurisdiction, of the initiation or threatening of any proceeding for any such purpose, or of
any request by the Commission for the amending or supplementing of the Registration Statement or the Prospectus or for additional
information; and, in the event of the issuance of any stop order or of any order preventing or suspending the use of any Preliminary
Prospectus or the Prospectus or suspending any such qualification, to use promptly its reasonable best efforts to obtain its withdrawal.

 

(b)To
deliver promptly to the Dealer-Manager, at any such location as requested by the Dealer-Manager, such number of the following
documents as the Dealer-Manager shall reasonably request: (i) conformed copies of the Registration Statement as originally filed
with the Commission and each amendment thereto (in each case excluding exhibits other than this Agreement, any other Offer Documents
filed as exhibits, the computation of the ratio of earnings to fixed charges and the computation of per share earnings), (ii)
each Preliminary Prospectus, the Prospectus and any amended or supplemented Prospectus and (iii) any document incorporated by
reference in the Prospectus (excluding exhibits thereto); and, if the delivery of a prospectus is required at any time during
which the Prospectus relating to the Rights or Rights Shares is required to be delivered under the Securities Act and if at such
time any events shall have occurred as a result of which the Prospectus as then amended or supplemented would include any untrue
statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light
of the circumstances under which they were made when such Prospectus is delivered, not misleading, or, if for any other reason
it shall be necessary during such period to amend or supplement the Prospectus or to file under the Exchange Act any document
incorporated by reference in the Prospectus in order to comply with the Securities Act or the Exchange Act, to notify the Dealer-Manager
and, upon its request, to file such document and to prepare and furnish without charge to the Dealer-Manager as many copies as
the Dealer-Manager may from time to time reasonably request of an amended or supplemented Prospectus which will correct such statement
or omission or effect such compliance.

 

    	 	17	 

    	 	 	 

    

 

(c)To
file promptly with the Commission any amendment to the Registration Statement or the Prospectus or any supplement to the Prospectus
that may, in the judgment of the Company or the Dealer-Manager, be necessary or advisable in connection with the distribution
of the Rights or the sale of the Rights Shares or be requested by the Commission.

 

(d)Prior
to filing with the Commission any: (i) Preliminary Prospectus, (ii) amendment to the Registration Statement, any document incorporated
by reference in the Prospectus or (iii) any Prospectus pursuant to Rule 424 of the Securities Act, to furnish a copy thereof to
the Dealer-Manager and counsel for the Dealer-Manager and obtain the consent of the Dealer-Manager to the filing (which consent
shall not be unreasonably withheld).

 

(e)To
furnish to the Dealer-Manager copies of all materials not available via EDGAR furnished by the Company to its shareholders and
all public reports and all reports and financial statements furnished by the Company to the principal national securities exchange
upon which any of the Company’s securities may be listed pursuant to requirements of or agreements with such exchange or
to the Commission pursuant to the Exchange Act or any rule or regulation of the Commission thereunder.

 

(f)To
qualify or register the Rights and Rights Shares for sale under (or obtain exemptions from the application of) the state securities
or blue sky laws of those jurisdictions designated by the Dealer-Manager, shall comply with such laws and shall continue such
qualifications, registrations and exemptions in effect so long as required for the distribution of the Rights and Rights Shares.
The Company shall not be required to qualify as a foreign corporation or to take any action that would subject it to general service
of process in any such jurisdiction where it is not presently qualified or where it would be subject to taxation as a foreign
corporation. The Company will advise the Dealer-Manager promptly of the suspension of the qualification or registration of (or
any such exemption relating to) the Rights and Rights Shares for offering, sale or trading in any jurisdiction or any initiation
or threat of any proceeding for any such purpose, and in the event of the issuance of any order suspending such qualification,
registration or exemption, the Company shall use its best efforts to obtain the withdrawal thereof at the earliest possible moment.

 

(g)To
apply the net proceeds from the exercise of the Rights in the manner described under the caption “Use of Proceeds”
in the Prospectus.

 

(h)Prior
to the effective date of the Registration Statement, to notify FINRA and the OTCQX Marketplace regarding the Rights Offering.

 

    	 	18	 

    	 	 	 

    

 

(i)To
take such steps as shall be necessary to ensure that neither the Company nor any Subsidiary shall become an “investment
company” within the meaning of such term under the Investment Company Act of 1940 and the rules and regulations of the Commission
thereunder.

 

(j)To
advise the Dealer-Manager, directly or through the Subscription Agent, from time to time, as the Dealer-Manager shall request,
of the number of Rights Shares subscribed for, and arrange for the Subscription Agent to furnish the Dealer-Manager with copies
of written reports it furnishes to the Company concerning the Rights Offering.

 

(k)To
commence mailing the Offer Documents to record holders of the Common Stock not later than the second business day following the
record date for the Rights Offering, and complete such mailing as soon as practicable.

 

(l)To
reserve and keep available for issue upon the exercise of the Rights such number of authorized but unissued shares of Rights Shares
as will be sufficient to permit the exercise in full of all Rights, except as otherwise contemplated by the Prospectus.

 

(m)To
not take, directly or indirectly, any action designed to cause or to result in, or that has constituted or which might reasonably
be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the issuance
of the Rights or the sale or resale of the Rights Shares.

 

10.Conditions
of Dealer-Manager’s Obligations. The obligations of the Dealer-Manager hereunder are subject to (and the occurrence
of any Closing shall be conditioned upon) the accuracy, as of the date hereof and at all times during the Rights Offering, of
the representations and warranties of the Company contained herein, to the performance by the Company of its obligations hereunder
and to the following additional conditions:

 

(a)(i)
The Registration Statement shall have become effective and the Prospectus shall have been timely filed with the Commission in
accordance with the Securities Act; (ii) all post-effective amendments to the Registration Statement shall have become effective;
(iii) no stop order suspending the effectiveness of the Registration Statement or any amendment or supplement thereto shall have
been issued and no proceedings for the issuance of any such order shall have been initiated or threatened, and (iv) any request
of the Commission for additional information (to be included in the Registration Statement or the Prospectus or otherwise) shall
have been disclosed to the Dealer-Manager and complied with to the Dealer-Manager’s reasonable satisfaction.

 

(b)The
Dealer-Manager shall not have been advised by the Company or shall have discovered and disclosed to the Company that the Registration
Statement or the Prospectus or any amendment or supplement thereto, contains an untrue statement of fact which in the Dealer-Manager’s
opinion, or in the opinion of counsel to the Dealer-Manager, is material, or omits to state a fact which, in the Dealer-Manager’s
opinion, or in the opinion of counsel to the Dealer-Manager, is material and is required to be stated therein or is necessary
to make the statements therein not misleading.

 

    	 	19	 

    	 	 	 

    

 

(c)All
corporate proceedings and other legal matters incident to the authorization, form and validity of this Agreement, the Rights,
the Rights Shares the Registration Statement and the Prospectus, and all other legal matters relating to this Agreement and the
transactions contemplated hereby shall be reasonably satisfactory in all material respects to counsel for the Dealer-Manager,
and the Company shall have furnished to such counsel all documents and information that they may reasonably request to enable
them to pass upon such matters.

 

(d)On
the Closing Date, there shall have been furnished to the Dealer-Manager the signed opinion (addressed to the Dealer-Manager) of
Legal & Compliance, LLC, counsel for the Company, dated as of the Closing Date and in form and substance satisfactory to counsel
for the Dealer-Manager, to the effect of the opinions set forth on Exhibit A hereto.

 

(e)The
Company shall have furnished to the Dealer-Manager a certificate, dated as of the Closing Date, of its Chief Executive Officer
or President and its Chief Financial Officer stating that:

 

	 	i.	To
    the best of their knowledge after reasonable investigation, the representations, warranties, covenants and agreements of the
    Company hereof are true and correct in all material respects;
	 	 	 
	 	ii.	The
    conditions set forth in this Agreement have been fulfilled;
	 	 	 
	 	iii.	Neither
    the Company nor any of its Subsidiaries has sustained any material loss or interference with its business, whether or not
    covered by insurance, or from any labor dispute or any legal or governmental proceeding;
	 	 	 
	 	iv.	Subsequent
    to the respective dates as of which information is given in the Registration Statement and the Prospectus, there has not been
    any Material Adverse Change or any development involving a prospective Material Adverse Change; and
	 	 	 
	 	v.	They
    have carefully examined the Registration Statement and the Prospectus and, in their opinion (A) the Registration Statement
    and the Prospectus, as of the Effective Date, did not include any untrue statement of a material fact and did not omit to
    state any material fact required to be stated therein or necessary to make the statements therein not misleading, and (B)
    since the Effective Date no event has occurred which should have been set forth in a supplement or amendment to the Registration
    Statement or the Prospectus.

 

(f)Neither
the Company nor any of its Subsidiaries shall have sustained since the date of the latest audited financial statements included
in the Prospectus any Material Adverse Change, the effect of which is, in the judgment of the Dealer-Manager, so material and
adverse as to make it impracticable or inadvisable to proceed with the Rights Offering.

 

    	 	20	 

    	 	 	 

    

 

(g)Neither
FINRA nor the OTCQX Marketplace shall have objected to the Rights Offering.

 

(h)All
opinions, letters, evidence and certificates mentioned above or elsewhere in this Agreement shall be deemed to be in compliance
with the provisions hereof only if they are in form and substance reasonably satisfactory to counsel for the Dealer-Manager. If
any of the conditions specified in this Section 10 shall not have been fulfilled when and as required by this Agreement, this
Agreement and all obligations of the Dealer-Manager hereunder may be canceled at, or at any time during the Rights Offering, by
the Dealer-Manager. Any such cancellation shall be without liability of the Dealer-Manager to the Company. Notice of such cancellation
shall be given the Company in writing, or by telegraph or telephone and confirmed in writing.

 

11.Indemnification
and Contribution.

 

(a)The
Company agrees to indemnify and hold harmless the Dealer-Manager and its affiliates and any officer, director, employee or agent
of Source or any such affiliates and any Person controlling (within the meaning of Section 20(a) of the Exchange Act) the Dealer-Manager
or any of such affiliates (collectively, the “Indemnified Parties”) from and against any and all losses, claims,
damages, liabilities and expenses whatsoever, under the Securities Act or otherwise (as incurred or suffered and including, but
not limited to, any and all legal or other expenses incurred in connection with investigating, preparing to defend or defending
any lawsuit, claim or other proceeding, commenced or threatened, whether or not resulting in any liability, which legal or other
expenses shall be reimbursed by the Company promptly after receipt of any invoices therefore from the Dealer-Manager), (A) arising
out of or based upon: (i) any untrue statement or alleged untrue statement of a material fact contained in the Offer Documents
or any amendment or supplement thereto, in any other solicitation material used by the Company or authorized by it for use in
connection with the Rights Offering, or in any blue sky application or other document prepared or executed by the Company (or
based on any written information furnished by the Company) specifically for the purpose of qualifying any or all of the Rights
or the Rights Shares under the securities laws of any state or other jurisdiction (any such application, document or information
being hereinafter called a “Blue Sky Application”) or arising out of or based upon the omission or alleged
omission to state in any such document a material fact required to be stated therein or necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading (other than statements or omissions made
in reliance upon and in conformity with the Dealer-Manager Information), (ii) any withdrawal or termination by the Company of,
or failure by the Company to make or consummate, the Rights Offering, (iii) any actions taken or omitted to be taken by an Indemnified
Party with the consent of the Company or in conformity with actions taken or omitted to be taken by the Company or (iv) any failure
by the Company to comply with any agreement or covenant, contained in this Agreement or (B) arising out of, relating to or in
connection with or alleged to arise out of, relate to or be in connection with, the Rights Offering, any of the other transactions
contemplated thereby or the performance of Source’s services to the Company with respect to the Rights Offering; provided,
however, that in the case of clause (B) only, the Company shall not be responsible for any liabilities or expenses of any Indemnified
Party that have resulted primarily from such Indemnified Party’s (x) gross negligence, bad faith or willful misconduct in
connection with any of the advice, actions, inactions or services referred to herein or (y) use of any Offering materials or information
concerning the Company in connection with the Offer that were not authorized for such use by the Company and which use constitutes
negligence, bad faith or willful misconduct.

 

    	 	21	 

    	 	 	 

    

 

(b)If
the indemnification provided for in the foregoing paragraph is judicially determined to be unavailable (other than in accordance
with the terms hereof) to any Indemnified Party otherwise entitled to indemnity in respect of any losses, claims, damages or liabilities
referred to herein, then, in lieu of indemnifying such person hereunder, whether or not the Dealer-Manager is the person entitled
to indemnification or reimbursement, the Company shall contribute to the amount paid or payable by the Indemnified Party as a
result of such losses, claims, damages or liabilities (and expenses relating thereto) (i) in such proportion as is appropriate
to reflect the relative benefits to the Company, on the one hand, and the Dealer-Manager, on the other hand, of the Rights Offering
or (ii) if the allocation provided for in clause (i) above is not available, in such proportion as is appropriate to reflect not
only the relative benefits referred to in such clause (i) but also the relative fault of each of the Company and the Dealer-Manager,
as well as any other relevant equitable considerations; provided, however, in no event shall the Dealer-Manager’s
aggregate contribution to the amount paid or payable exceed the aggregate amount of fees actually received by the Dealer-Manger
under this Agreement. For the purposes of this Agreement, the relative benefits to the Company and to the Dealer-Manager of the
engagement shall be deemed to be in the same proportion as (a) the total value paid or contemplated to be paid or received or
contemplated to be received by the Company in the Rights Offering, whether or not the Rights Offering is consummated, bears to
(b) the fees paid or to be paid to the Dealer-Manager under this Agreement.

 

(c)The
Company also agrees that neither the Dealer-Manager, nor any other Indemnified Party, shall have any liability to the Company
for or in connection with the Dealer-Manager’s engagement as Dealer-Manager. The foregoing agreement shall be in addition
to any rights that the Dealer-Manager, the Company or any Indemnified Party may have at common law or otherwise, including, but
not limited to, any right to contribution. For the sole purpose of enforcing and otherwise giving effect to the provisions of
this Agreement, the Company hereby consents to personal jurisdiction and service and venue in any court in which any claim which
is subject to this agreement is brought against the Dealer-Manager or any other indemnified party.

 

(d)The
Company agrees that it will not, without the prior written consent of the Dealer-Manager, settle or compromise or consent to the
entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification
or contribution may be sought hereunder (whether or not the Dealer-Manager is an actual or potential party to such claim, action,
suit or proceeding) unless such settlement, compromise or consent includes an unconditional release, reasonably satisfactory in
form and substance to the Dealer-Manager, releasing the Dealer-Manager from all liability arising out of such claim, action, suit
or proceeding.

 

(e)The
Company agrees to reimburse each Indemnified Party for all expenses as they are incurred in connection with enforcing such Indemnified
Party’s rights hereunder.

 

    	 	22	 

    	 	 	 

    

 

12.Effective
Date of Agreement; Termination.

 

(a)This
Agreement shall become effective upon the later of the time on which the Dealer-Manager shall have received notification of the
effectiveness of the Registration Statement and the time which this Agreement shall have been executed by all of the parties hereto.

 

(b)This
Agreement shall terminate upon the earliest to occur of (a) the consummation, termination or withdrawal of the Rights Offering,
and (b) the withdrawal by the Dealer-Manager pursuant to Section 4.

 

13.Survival
of Certain Provisions. The agreements contained in Sections 3, 6, 7 and 13 through 21 hereof and the representations, warranties
and agreements of the Company contained in Section 5 hereof shall survive the consummation of or failure to commence the Rights
Offering and shall remain in full force and effect, regardless of any termination or cancellation of this Agreement or any investigation
made by or on behalf of any indemnified party; provided, that the Company’s obligations under Section 7 to reimburse the
Dealer-Manager for accountable expenses are subject to FINRA Rule 5110 (f)(2)(D) in that such expenses are only reimbursable to
the extent actually incurred and only if the Offering actually closes.

 

14.Notices.
All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed
to have been duly given if (a) delivered personally, (b) sent by facsimile with immediate telephonic confirmation or (c) sent
by registered or certified mail, return receipt requested, postage prepaid, to the parties hereto as follows

 

If
to the Dealer-Manager:

 

Source
Capital Group, Inc.

276
Post Road West

Westport,
CT 06880

Attention:
Mr. Richard H. Kreger, Snr. Managing Director, Investment Banking

Email:
rkreger@sourcegrp.com

 

With
a copy to:

 

Olshan
Frome Wolosky LLP

1325
Avenue of the Americas

New
York, NY 10019

Attention:
Spencer G. Feldman, Esq.

Email:
sfeldman@olshanlaw.com

Facsimile:
(212) 451-2222

 

    	 	23	 

    	 	 	 

    

 

If
to the Company:

 

IEG
Holdings Corporation

6160
West Tropicana Avenue, Suite E-13

Las
Vegas, NV 89103

Attention:
Paul Mathieson, Chief Executive Officer

Email:
paulm@investmentevolution.com

Facsimile:
(702) 227-5221

 

With
a copy to:

 

Legal
& Compliance, LLC

330
Clematis Street, Suite 217

West
Palm Beach, FL 33401

Attention:
Laura Anthony, Esq.

Email:
lanthony@legalandcompliance.com

Facsimile:
(561) 514-0832

 

15.Parties.
This Agreement shall inure to the benefit of and be binding upon the Dealer-Manager, the Company and their respective successors.
This Agreement and the terms and provisions hereof are for the sole benefit of only those Persons, except that the representations,
warranties, indemnities and agreements of the Company contained in this Agreement shall also be deemed to be for the benefit of
the Person or Persons, if any, who control the Dealer-Manager within the meaning of Section 15 of the Act. Nothing in this Agreement
shall be construed to give any Person, other than the Persons referred to in this Section, any legal or equitable right, remedy
or claim under or in respect of this Agreement or any provision contained herein.

 

16.Amendment.
This Agreement may not be amended or modified except in writing signed by each of the parties hereto.

 

17.Governing
Law; Venue. This Agreement shall be deemed to have been executed and delivered in New York and both this Agreement and the
transactions contemplated hereby shall be governed as to validity, interpretation, construction, effect, and in all other respects
by the laws of the State of New York, without regard to the conflicts of laws principals thereof (other than Section 5-1401 of
The New York General Obligations Law). Each of the Dealer-Manager and the Company: (a) agrees that any legal suit, action or proceeding
arising out of or relating to this Agreement and/or the transactions contemplated hereby shall be instituted exclusively in the
Supreme Court of the State of New York, New York County, or in the United States District Court for the Southern District of New
York, (b) waives any objection which it may have or hereafter to the venue of any such suit, action or proceeding, and (c) irrevocably
consents to the jurisdiction of Supreme Court of the State of New York, New York County, or in the United States District Court
for the Southern District of New York in any such suit, action or proceeding. Each of the Dealer-Manager and the Company further
agrees to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in
the Supreme Court of the State of New York, New York County, or in the United States District Court for the Southern District
of New York and agrees that service of process upon the Company mailed by certified mail to the Company’s address or delivered
by Federal Express via overnight delivery shall be deemed in every respect effective service of process upon the Company, in any
such suit, action or proceeding, and service of process upon the underwriters mailed by certified mail to the Dealer-Manager’s
address or delivered by Federal Express via overnight delivery shall be deemed in every respect effective service process upon
the Dealer-Manager, in any such suit, action or proceeding. THE COMPANY (ON BEHALF OF ITSELF AND, TO THE FULLEST EXTENT PERMITTED
BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT,
THE REGISTRATION STATEMENT, ANY PRELIMINARY PROSPECTUS AND THE PROSPECTUS.

 

    	 	24	 

    	 	 	 

    

 

18.Entire
Agreement. This Agreement, together with the exhibit attached hereto and as the same may be amended from time to time in accordance
with the terms hereof, contains the entire agreement among the parties hereto relating to the subject matter hereof and there
are no other or further agreements outstanding not specifically mentioned herein. Notwithstanding anything herein to the contrary,
the Engagement Letter shall continue to be effective and the term therein shall continue to survive and be enforceable by the
parties thereto, in accordance with its terms.

 

19.Severability.
If any term or provision of this Agreement or the performance thereof shall be invalid or unenforceable to any extent, such invalidity
or unenforceability shall not affect or render invalid or unenforceable any other provision of this Agreement and this Agreement
shall be valid and enforced to the fullest extent permitted by law.

 

20.Headings.
The headings herein are inserted for convenience of reference only and are not intended to be part of, or to affect the meaning
or interpretation of, this Agreement.

 

21.Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or other
electronic transmission shall constitute valid and sufficient delivery thereof. If the foregoing correctly sets forth your understanding,
please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement among
us.

 

    	 	25	 

    	 	 	 

    

 

	 	Very
    truly yours,
	 	 
	 	IEG
    HOLDINGS CORPORATION
	 	 	 
	 	By:	 
	 	Name:	Paul
    Mathieson
	 	Title:	Chief
    Executive Officer

 

Accepted
and agreed as of the date first written above:

 

SOURCE
CAPITAL GROUP, INC.

 

	By:	 	 
	Name:	Richard
    H. Kreger	 
	Title:	Snr.
    Managing Director, Investment Banking	 
	 	 	 
	By:	 	 
	Name:	Russell
    Newton	 
	Title:	Chief
    Financial Officer	 

 

[Signature
Page to Dealer-Manager Agreement]

 

    	 	26	 

    	 	 	 

    

 

EXHIBIT
A

 

	1.	The
    Company is incorporated and is validly existing as a corporation in good standing under the laws of the State of Florida,
    with corporate power and authority to own, lease and operate its properties and conduct its business as described in the Registration
    Statement, the Offer Documents and the Prospectus and to enter into and perform its obligations under the Dealer-Manager Agreement
    and the Rights.
	 	 
	2.	The
    Company’s authorized capital consists of 200,000,000 shares of common stock, $0.001 par value per share, and 50,000,000
    shares of preferred stock, $0.001 par value per share.
	 	 
	3.	The
    Rights and Rights Shares to be issued and sold by the Company pursuant to the Registration Statement have been duly and validly
    authorized and, when issued and delivered to and paid for, will be duly and validly issued and fully paid and nonassessable
    and will conform to the descriptions thereof contained in the Registration Statement, the Offer Documents and the Prospectus;
    and the issuance of such Rights and Rights Shares is not subject to any preemptive or similar rights.
	 	 
	4.	The
    Dealer-Manager Agreement has been duly authorized, executed and delivered by the Company and the Company has all the requisite
    corporate power and authority to enter into the Dealer-Manager Agreement and to perform their obligations thereunder.
	 	 
	5.	The
    issue and sale of the Rights and Rights Shares to be sold by the Company pursuant to the Registration Statement, the execution
    of the Dealer-Manager Agreement by the Company and the compliance by the Company with all of the provisions of the Dealer-Manager
    Agreement and the consummation of the transactions therein contemplated will not conflict with or result in a breach or violation
    of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement
    or other agreement or instrument, included as an exhibit to the Registration Statement or as an exhibit to any other registration
    statement or report filed by the Company with the Commission, to which the Company or any of its subsidiaries is a party or
    by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of
    the Subsidiaries is subject, nor will such action result in any violation of the provisions of the certificate or articles
    of incorporation or by-laws (or other organizational documents) of the Company or any of its subsidiaries or, to our knowledge,
    result in any violation of any statute or any order, rule or regulation of any court or governmental agency or body having
    jurisdiction over the Company or any of its subsidiaries or any of their properties; and, to our knowledge, no consent, approval,
    authorization, order, registration or qualification of or with any such court or governmental agency or body is required for
    the issue and sale of the Rights and Rights Shares to be sold by the Company pursuant to the Registration Statement or the
    consummation by the Company of the transactions contemplated by the Dealer-Manager Agreement, except the registration under
    the Securities Act of the Rights and Rights Shares and such consents, approvals, authorizations, registrations or qualifications
    as may be required under state securities or blue sky laws, as to which we express no opinion.

 

    	 	27	 

    	 	 	 

    

 

	6.	Other
    than as set forth in the Registration Statement, the Offer Documents and the Prospectus, to our knowledge, there are no legal
    or governmental proceedings pending to which the Company or any of its subsidiaries is a party or of which any property of
    the Company or any of its subsidiaries is the subject which, if determined adversely to the Company or any of its subsidiaries,
    individually or in the aggregate, would have or may reasonably be expected to have a material adverse effect on the general
    affairs, business, prospects, management, financial position, shareholders’ equity or results of operations of the Company
    and its subsidiaries, considered as one enterprise, or would prevent or impair the consummation of the transactions contemplated
    by the Dealer-Manager Agreement , or which are required to be described in the Registration Statement, the Offer Documents
    and the Prospectus; and, to our knowledge, no such proceedings are threatened or contemplated by governmental authorities
    or others.
	 	 
	7.	The
    Company is not and, after giving effect to the offering and sale of the Rights and Rights Shares as contemplated herein and
    the application of the net proceeds therefrom as described in the Registration Statement, the Offer Documents and the Prospectus,
    will not be an “investment company,” as such term is defined in the Investment Company Act of 1940.
	 	 
	8.	The
    Registration Statement, including any Rule 462(b) Registration Statement, has been declared effective under the Securities
    Act; any required filing of the Prospectus pursuant to Rule 424(b) under the Securities Act has been made in the manner and
    within the time period required by Rule 424(b); all material required to be filed by the Company pursuant to Rule 433(d) under
    the Securities Act shall have been filed with the Commission within the applicable time period prescribed for such filing
    by Rule 433 under the Securities Act; and no stop order suspending the effectiveness or use of the Registration Statement,
    the Offer Documents and the Prospectus has been issued under the Securities Act and no proceedings for that purpose have been
    instituted or are pending or, to our knowledge, threatened by the Commission.
	 	 
	9.	To
    our knowledge, there are no statutes or regulations that are required to be described in the Registration Statement, the Offer
    Documents and the Prospectus that are not described as required.
	 	 
	10.	The
    Company has duly notified FINRA and the OTCQX Marketplace regarding the Rights Offering and no objection was raised by FINRA
    or the OTCQX Marketplace.
	 	 
	11.	The
    Registration Statement, the Offer Documents and the Prospectus and any further amendments and supplements thereto made by
    the Company (other than the financial statements, related schedules and other financial data therein, as to which we do not
    express an opinion), comply as to form in all material respects with the requirements of the Securities Act and the rules
    and regulations thereunder; and we do not know of any amendment to the Registration Statement, the Offer Documents and the
    Prospectus required to be filed or of any contracts or other documents of a character required to be filed as an exhibit to
    the Registration Statement or required to be described in the Registration Statement, the Offer Documents and the Prospectus
    which are not filed or described as required.

 

    	 	28	 

    	 	 	 

    

 

	12.	The
    documents incorporated by reference in the Registration Statement, the Offer Documents and the Prospectus, or any further
    amendment or supplement thereto made by the Company (other than the financial statements and related schedules therein, as
    to which we express no opinion), when they became effective or were filed with the Commission, as the case may be, complied
    as to form in all material respects with the requirements of the Securities Act or the Exchange Act, as applicable, and the
    rules and regulations of the Commission thereunder.
	 	 
	13.	To
    our knowledge, except as disclosed in the Prospectus, there are no contracts, agreements or understandings between the Company
    and any person granting such person the right to require the Company to file a registration statement under the Securities
    Act with respect to shares of Common Stock or other securities to include such shares of Common Stock or other securities
    as part of the offering contemplated hereby.

 

In
addition, although we are not passing upon and do not assume any responsibility for nor have we independently verified, the accuracy,
completeness or fairness of the statements contained in the Registration Statement, the Offer Documents and the Prospectus, in
connection with the preparation of the Registration Statement, the Offer Documents and the Prospectus, we have participated in
conferences with representatives and counsel of the Dealer-Manager and with certain officers and employees of, and counsel and
independent certified public accountants for, the Company, at which conferences the contents of the Registration Statement, the
Offer Documents and the Prospectus and related matters were discussed, and we advise the Dealer-Manager that nothing has come
to our attention that would lead us to believe that:

 

	 	●	as
    of its effective date, the Registration Statement (other than the financial statements, related schedules and other financial
    data therein, as to which we do express no opinion), contained an untrue statement of a material fact required to be stated
    therein or necessary to make the statements therein not misleading,
	 	 	 
	 	●	as
    of the Effective Time, the Offer Documents (other than the financial statements, related schedules and other financial data
    therein, as to which express no opinion) contain an untrue statement of a material fact or omits to state a material fact
    necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or
    
	 	 	 
	 	●	as
    of its date or as of the applicable time of delivery, the Prospectus (other than the financial statements, related schedules
    and other financial data therein, as to which we express no opinion) contained an untrue statement of a material fact or omitted
    to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were
    made, not misleading.

 

provided,
however, that we do not assume any responsibility for the accuracy, completeness or fairness of the statements made or the information
contained in, incorporated by reference in, or omitted from, the Registration Statement, the Offer Documents or the Prospectus,
and we do not express any view or belief with respect to the financial statements and the related notes thereto or financial schedules
or other financial, statistical or accounting data or information or assessments of or reports on the effectiveness of internal
control over financial reporting included in, incorporated by reference in, or omitted from, the Registration Statement, the Offer
Documents or the Prospectus.

 

The
purpose of our engagement was not to establish or confirm factual matters set forth in the Registration Statement, the Offer Documents
or the Prospectus, and we have not undertaken any obligation to verify independently any of the factual matters set forth in the
Registration Statement, the Offer Documents or the Prospectus.

 

    	 	29EXHIBIT 10.1

 

SUBSCRIPTION
AGREEMENT

 

	To:
    	Gold
    Torrent, Inc.
	 	960
    Broadway Avenue
	 	Suite
    530
	 	Boise,
    Idaho 83706

 

Gentlemen:

 

1.
Subscription.

 

The
undersigned (the “Subscriber”), intending to be legally bound, hereby irrevocably agrees to purchase from Gold Torrent,
Inc., a Nevada corporation (the “Company”), the number of shares (the “Shares”) of common stock, par value
$0.001 per share, set forth on the Signature Page at the end of this subscription agreement (the “Agreement”) at a
purchase price of $0.25 per Share (the “Offering”), upon the terms and conditions hereinafter set forth. This subscription
is submitted to the Company in accordance with and subject to the terms and conditions described in this Agreement.

 

This
Agreement relates to the offering and sale of up to 8,000,000 Shares in the Company for $0.25 per Share in an effort to raise
up to $2,000,000. There has been limited trading in the Company’s common stock and there can be no assurance that an active
trading market in the Company’s common stock will either develop or be maintained. The Shares are being offered on a “best
efforts” basis. There is no minimum number of Shares that must be sold in this Offering and all funds received by the Company
from subscriptions will be immediately available to us for general corporate purposes.

 

The
Subscriber is delivering (i) the subscription payment by check made payable to “Gold Torrent, Inc.” or wire transfer
according to the instructions contained in Exhibit II attached hereto, (ii) two executed copies of the Signature
Page at the end of this Agreement, and (iii) one executed copy of Exhibit A-1 or Exhibit A-2 (as appropriate), to:

 

Gold
Torrent, Inc.

960
Broadway Avenue

Suite
530

Boise,
Idaho 83706

 

The
Subscriber understands that the Shares are being issued pursuant to the exemption from the registration requirements of the United
States Securities Act of 1933, as amended (the “Securities Act”), provided by Regulation D, Rule 506(c) of the Securities
Act and Regulation S promulgated under the Securities Act. As such, the Shares are only being offered and sold to investors who
qualify as “accredited investors” (as defined in Regulation D) or a non-”U.S. person” (as defined in Regulation
S), and the Company is relying on the representations made by the Subscriber in this Agreement that the Subscriber qualifies as
such an accredited investor. The Shares are “restricted securities” for purposes of the United States securities laws
and cannot be transferred except as permitted under these laws.

 

    	1

    	 

    

 

2.
Acceptance of Subscription.

 

The
Offering will be open until the earlier to occur of (i) the sale of 8,000,000 Shares in the Offering, or (ii) March 31, 2016,
subject to an extension for 180 additional days at the Company’s sole discretion and without notice, unless earlier terminated
by the Company.

 

Subject
to applicable state securities laws, the Subscriber may not revoke any subscription that such Subscriber delivers to the Company.
However, the Subscriber understands and agrees that pursuant to Rule 506(c) of Regulation D promulgated under the Securities Act,
the Company needs to take reasonable steps to verify that the Subscribers are accredited investors directly or by a third party
service and, in its sole discretion, may (i) reject the subscription of any Subscriber, whether or not qualified, in whole or
in, part, and (ii) may withdraw the Offering at any time prior to the termination of the Offering. The Company shall have no obligation
to accept subscriptions in the order received. This subscription shall become binding only if accepted by the Company.

 

3.
Representations and Warranties.

 

The
Subscriber hereby represents and warrants to, and agrees with, the Company as follows:

 

(a)
The Subscriber is either (i) an “accredited investor” as that term is defined in Regulation D promulgated under the
Securities Act and as set forth in Exhibit A-1 attached hereto and made a part hereof, or (ii) outside the United States when
receiving and executing this Subscription Agreement and the Subscriber is not a U.S. Person as defined in Rule 902 of Regulation
S promulgated under the Securities Act and as set forth in Exhibit A-2 attached hereto and made a part hereof;.

 

(b)
The Subscriber is a “sophisticated investor” as that term is defined in Rule 506(b)(2)(ii) of Regulation D promulgated
under the Securities Act.

 

(c)
For California and Massachusetts individuals: If the subscriber is a California resident, such subscriber’s investment in
the Company will not exceed 10% of such subscriber’s net worth (or joint net worth with his or her spouse). If the subscriber
is a Massachusetts resident, such subscriber’s investment in the Company will not exceed 25% of such subscriber’s
joint net worth with such subscriber’s spouse (exclusive of principal residence and its furnishings).

 

(d)
If a natural person, the Subscriber is a bona fide resident of the state or non-United States jurisdiction contained in the address
set forth on the Signature Page of this Agreement as the Subscriber’s home address, at least 21 years of age, and legally
competent to execute this Agreement. If an entity, the Subscriber has its principal offices or principal place of business in
the state or non-United States jurisdiction contained in the address set forth on the Signature Page of this Agreement, the individual
signing on behalf of the Subscriber is duly authorized to execute this Agreement and this Agreement constitutes the legal, valid
and binding obligation of the Subscriber enforceable against the Subscriber in accordance with its terms.

 

    	2

    	 

    

 

(e)
The Subscriber recognizes that the purchase of the Shares involves a high degree of risk including, but not limited to, the following:
(a) the Company remains an early stage business with limited operating history and requires substantial funds in addition to the
proceeds of the Offering; (b) an investment in the Company is highly speculative, and only investors who can afford the loss of
their entire investment should consider investing in the Company and the Shares; (c) the Subscriber may not be able to liquidate
its investment; (d) transferability of the Shares is extremely limited; (e) in the event of a disposition, the Subscriber could
sustain the loss of its entire investment; (f) the Company has not paid any dividends since its inception and does not anticipate
paying any dividends in the foreseeable future; and (g) the Company may issue additional securities in the future which have rights
and preferences that are senior to those of the Shares. Without limiting the generality of the representations set forth in herein,
the Subscriber represents that the Subscriber has carefully reviewed the “Risk Factors” contained in the Private Placement
Memorandum accompanying this Agreement (the “Risk Factors”). The Subscriber has received, read carefully and is familiar
with this Agreement and the Risk Factors.

 

(f)
The Subscriber hereby acknowledges receipt and careful review of this Agreement, the Risk Factors and any documents which may
have been made available upon request as reflected therein (collectively referred to as the “Offering Materials”)
and hereby represents that the Subscriber has been furnished by the Company during the course of the Offering with all information
regarding the Company, the terms and conditions of the Offering and any additional information that the Subscriber has requested
or desired to know, and has been afforded the opportunity to ask questions of and receive answers from duly authorized officers
or other representatives of the Company concerning the Company and the terms and conditions of the Offering. The Subscriber has
had access to all additional information necessary to verify the accuracy of the information set forth in this Agreement and any
other materials furnished herewith, and have taken all the steps necessary to evaluate the merits and risks of an investment as
proposed hereunder.

 

(g)
The Subscriber (or the Subscriber’s representative) has such knowledge and experience in finance, securities, taxation,
investments and other business matters so as to be able to protect the interests of the Subscriber in connection with this transaction,
and the Subscriber’s investment in the Company hereunder is not material when compared to the Subscriber’s total financial
capacity.

 

(h)
The Subscriber understands the various risks of an investment in the Company as proposed herein and can afford to bear such risks,
including, without limitation, the risks of losing the entire investment.

 

(i)
The Subscriber acknowledges that there has been limited trading in the Company’s common stock and there can be no assurance
that an active trading market in the Company’s common stock will either develop or be maintained and that the Subscriber
may find it impossible to liquidate the investment at a time when it may be desirable to do so, or at any other time.

 

(j)
The Subscriber has been advised by the Company that none of the Shares have been registered under the Securities Act, that the
Shares will be issued on the basis of the statutory exemption provided by Rule 506(c) of the Securities Act or Regulation D promulgated
thereunder or Regulation S promulgated under the Securities Act, or both, relating to transactions by an issuer not involving
any public offering and under similar exemptions under certain state securities laws; that this transaction has not been reviewed
by, passed on or submitted to any federal or state agency or self-regulatory organization where an exemption is being relied upon;
and that the Company’s reliance thereon is based in part upon the representations made by the Subscriber in this Agreement.

 

    	3

    	 

    

 

(k)
The Subscriber acknowledges that the Subscriber has been informed by the Company of or is otherwise familiar with, the nature
of the limitations imposed by the Securities Act and the rules and regulations thereunder on the transfer of the Shares. In particular,
the Subscriber agrees that no sale, assignment or transfer of any of the Shares shall be valid or effective, and the Company shall
not be required to give any effect to such a sale, assignment or transfer, unless (i) the sale, assignment or transfer of such
Shares is registered under the Securities Act, it being understood that the Shares are not currently registered for sale and that
the Company has no obligation or intention to so register the Shares, except as contemplated by the terms of this Agreement or
(ii) such Shares are sold, assigned or transferred in accordance with all the requirements and limitations of Rule 144 under the
Securities Act (it being understood that Rule 144 is not available at the present time for the sale of the Shares), or (iii) such
sale, assignment or transfer is otherwise exempt from registration under the Securities Act. The Subscriber further understands
that an opinion of counsel and other documents may be required to transfer the Shares.

 

(l)
The Subscriber acknowledges that the Shares shall be subject to a stop transfer order and the certificate or certificates evidencing
any Shares shall bear the following or a substantially similar legend or such other legend as may appear on the forms of Shares
and such other legends as may be required by state blue sky laws:

 

For
U.S. Persons:

 

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

 

For
Non-U.S. Persons:

 

THESE
SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION
S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”). ACCORDINGLY, NONE OF THE SECURITIES
TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED,
NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES (AS DEFINED HEREIN) OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS (AS DEFINED HEREIN)
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION,
HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE 1933 ACT. “UNITED STATES”
AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

    	4

    	 

    

 

(m)
The Subscriber will acquire the Shares for the Subscriber’s own account (or for the joint account of the Subscriber and
the Subscriber’s spouse either in joint tenancy, tenancy by the entirety or tenancy in common) for investment and not with
a view to the sale or distribution thereof or the granting of any participation therein, and has no present intention of distributing
or selling to others any of such interest or granting any participation therein.

 

(n)
No representation, guarantee or warranty has been made to the Subscriber by any broker, the Company, any of the officers, directors,
stockholders, employees or agents of either of them, or any other persons, whether expressly or by implication, that: (I) the
Company or the Subscriber will realize any given percentage of profits and/or amount or type of consideration, profit or loss
as a result of the Company’s activities or the Subscriber’s investment in the Company; or (II) the past performance
or experience of the management of the Company, or of any other person, will in any way indicate the predictable results of the
ownership of the Shares or of the Company’s activities.

 

(o)
In making the decision to invest in the Shares the Subscriber has relied solely upon the information provided by the Company in
the Offering Materials. The Subscriber disclaims reliance on any statements made or information provided by any person or entity
in the course of Subscriber’s consideration of an investment in the Shares other than the Offering Materials. 

 

(p)
The Subscriber is not subscribing for the Shares as a result of or subsequent to any advertisement, article, notice or other communication
published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting,
or any solicitation of a subscription by a person other than a representative of the Company with which the Subscriber had a pre-existing
relationship in connection with investments in securities generally.

 

(q)
The Subscriber is not relying on the Company with respect to the tax and other economic considerations of an investment.

 

(r)
The Subscriber acknowledges that the representations, warranties and agreements made by the Subscriber herein shall survive the
execution and delivery of this Agreement and the purchase of the Shares.

 

(s)
The Subscriber has consulted his own financial, legal and tax advisors with respect to the economic, legal and tax consequences
of an investment in the Shares and has not relied on the Offering Materials or the Company, its officers, directors or professional
advisors for advice as to such consequences.

 

(t)
If the Subscriber is a non-U.S. Person, the Subscriber has not acquired the Common Stock as a result of, and will not itself engage
in, any “directed selling efforts” (as defined in Regulation S under the Securities Act) in the United States in respect
of the Common Stock which would include any activities undertaken for the purpose of, or that could reasonably be expected to
have the effect of, conditioning the market in the United States for the resale of the Common Stock; provided, however, that the
Subscriber may sell or otherwise dispose of the Common Stock pursuant to registration thereof under the Securities Act and any
applicable state and provincial securities laws or under an exemption from such registration requirements;

 

    	5

    	 

    

 

(u)
If the Subscriber is a non-U.S. Person, the Subscriber acknowledges that the statutory and regulatory basis for the exemption
from U.S registration requirements claimed for the offer of the Common Stock, although in technical compliance with Regulation
S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of the Securities Act
or any applicable state or provincial securities laws;

 

4.
Indemnification.

 

The
Subscriber understands the meaning and legal consequences of the representations and warranties contained in Section 3, and agrees
to indemnify and hold harmless the Company and each, officer, director, shareholder, employee, agent or representative thereof
against any and all loss, damage or liability due to or arising out of a breach of any representation or warranty, or breach or
failure to comply with any covenant, of the Subscriber, contained in this Agreement. Notwithstanding any of the representations,
warranties, acknowledgments or agreements made herein by the Subscriber, the Subscriber does not thereby or in any other manner
waive any rights granted to the Subscriber under federal or state securities laws.

 

5.
Provisions of Certain State Laws.

 

IN
MAKING AN INVESTMENT DECISION, SUBSCRIBERS MUST RELY ON THEIR OWN EXAMINATION OF THE COMPANY AND THE TERMS OF THE OFFERING, INCLUDING
THE MERITS AND RISKS INVOLVED. THESE SECURITIES HAVE NOT BEEN RECOMMENDED BY ANY FEDERAL OR STATE SECURITIES COMMISSION OR REGULATORY
AUTHORITY. FURTHERMORE, THE FOREGOING AUTHORITIES HAVE NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS DOCUMENT.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. 

 

THESE
SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE AND MAY NOT BE TRANSFERRED OR RESOLD EXCEPT AS PERMITTED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION
THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE
PERIOD OF TIME.

 

6.
Additional Information.

 

The
Subscriber hereby acknowledges and agrees that the Company may make or cause to be made such further inquiry and obtain such additional
information, as they may deem appropriate, with regard to the suitability of the Subscriber.

 

7.
Irrevocability; Binding Effect.

 

The
Subscriber hereby acknowledges and agrees that the subscription hereunder is irrevocable, subject to applicable state securities
laws, that the Subscriber is not entitled to cancel, terminate or revoke this Agreement or any agreements of the Subscriber thereunder,
and that this Agreement and such other agreements shall survive the death or disability of the Subscriber and shall be binding
upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and
assigns. If the Subscriber is more than one person, the obligations of the Subscriber hereunder shall be joint and several and
the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding
upon each such person and his heirs, executors, legal representatives and assigns.

 

    	6

    	 

    

 

8.
Modification.

 

Neither
this Agreement nor any provisions hereof shall be waived, modified, discharged or terminated except by an instrument in writing
signed by the party against whom any such waiver, modification, discharge or termination is sought.

 

9.
Notices.

 

Any
notice, demand or other communication which any party hereto may be required, or may elect, to give to any other party hereunder
shall be sufficiently given if (a) deposited, postage prepaid, in a United States mail box, stamped registered or certified mail,
return receipt requested, addressed to such address as may be listed on the books of the Company, or (b) delivered personally
at such address.

 

10.
Counterparts.

 

This
Agreement may be executed through the use of separate signature pages or in any number of counterparts, and each such counterpart
shall, for all purposes, constitute one agreement binding on all parties, notwithstanding that all parties are not signatories
to the same counterpart.

 

11.
Entire Agreement.

 

This
Agreement contains the entire agreement of the parties with respect to the subject matter hereof and there are no representations,
covenants or other agreements except as stated or referred to herein.

 

12.
Severability.

 

Each
provision of this Agreement is intended to be severable from every other provision, and the invalidity or illegality of any portion
hereof shall not affect the validity or legality of the remainder hereof.

 

13.
Assignability.

 

This
Agreement is not transferable or assignable by the Subscriber.

 

14.
Applicable Law.

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict
of laws principles, as applied to residents of that State executing contracts wholly to be performed in that State.

 

15.
Choice of Jurisdiction.

 

The
parties agree that any action or proceeding arising, directly, indirectly or otherwise, in connection with, out of or from this
Agreement, any breach hereof or any transaction covered hereby shall be resolved within the State of New York. Accordingly, the
parties consent and submit to the jurisdiction of the United States federal and state courts located within the County of New
York, New York.

 

IN
WITNESS THEREOF, the Subscriber exercises and agrees to be bound by this Agreement by executing the Signature Page attached
hereto on the date therein indicated.

 

[-Signature
Pages Follow-]

 

    	7

    	 

    

 

SUBSCRIPTION
AGREEMENT - SIGNATURE PAGE

 

By
executing this Signature Page, the Subscriber hereby executes, adopts and agrees to all terms, conditions and representations
of this Subscription Agreement and acknowledges all requirements are met by the Subscriber to purchase Shares in the Company.

 

Number
of Shares Subscribed at $0.25 per Share: ____________________________

 

Aggregate
Purchase Price: $ ___________________________________________

 

	Type
    of ownership:	______X_____	Individual
	 	____________	Joint
    Tenants
	 	____________	Tenants
    by the Entirety
	 	____________	Tenants
    in Common
	 	____________	Subscribing
    as Corporation or Partnership
	 	____________	Other

 

IN
WITNESS WHEREOF, the Subscriber has executed this Signature

 

Page
this ___ day of _____, 2016.

 

	 	 	 
	Exact
    Name in which Shares are to 	 	Exact
    Name in which Shares are to 
	be
    Registered	 	be
    Registered
	 	 	 
	 	 	 
	Signature	 	Signature
	 	 	 
	 	 	 
	Print
    Name	 	Print
    Name
	 	 	 
	 	 	  
	Tax/Passport/ID
    Number: 	 	Tax
    Identification Number
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Mailing
    Address	 	Mailing
    Address
	 	 	 
	Residence
    Phone Number	 	Residence
    Phone Number
	 	 	 
	 	 	 
	Work
    Phone Number	 	Work
    Phone Number
	 	 	 
	 	 	 
	E-Mail
    Address	 	E-Mail
    Address

 

    	8

    	 

    

 

ACCEPTANCE
OF SUBSCRIPTION

 

gOLD
TORRENT, Inc. hereby accepts the subscription
of ____________ Shares as of the ____ day of _____, 2016.

 

GOLD
TORRENT, Inc.

 

	By:	 	 
	Name:	Ryan
    E. Hart	 
	Title:	President
    	 

 

    	9

    	 

    

 

EXHIBIT
A-1 - ACCREDITED INVESTOR PAGE FOR U.S. PURCHASERS

 

The
undersigned Purchaser is an “accredited investor” as that term is defined in Regulation D promulgated under the Securities
Act and amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act by virtue of being (initial all applicable responses):

 

	____	A
    small business investment company licensed by the U.S. Small Business Administration under the Small Business Investment
    Company Act of 1958,
	 	 
	____	A
    business development company as defined in the Investment Company Act of 1940,
	 	 
	____	A
    national or state-chartered commercial bank, whether acting in an individual or fiduciary capacity,
	 	 
	____	An
    insurance company as defined in Section 2(13) of the Securities Act,
	 	 
	____	An
    investment company registered under the Investment Company Act of 1940,
	 	 
	____	An
    employee benefit plan within the meaning of Title I of the Employee Retirement Income Security Act of 1974, where the
    investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, insurance
    company, or registered investment advisor, or an employee benefit plan which has total assets in excess of $5,000,000,
	 	 
	____	A
    private business development company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940,
	 	 
	____	An
    organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation or a partnership with total
    assets in excess of $5,000,000,
	 	 
	____	A
    natural person whose individual net worth, or joint net worth with that person’s spouse, at the time of purchase exceeds
    $1,000,000. For purposes of this Exhibit A-1, “net worth” means the excess of total assets at fair market value
    over total liabilities. For purposes of calculating net worth under this section, (i) the primary residence shall not be included
    as an asset, (ii) to the extent that the indebtedness that is secured by the primary residence is in excess of the fair market
    value of the primary residence, the excess amount shall be included as a liability, and (iii) if the amount of outstanding
    indebtedness that is secured by the primary residence exceeds the amount outstanding 60 days prior to the execution of this
    questionnaire, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included
    as a liability.
	 	 
	____	Any
    trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities offered,
    whose purchase is directed by a sophisticated person as described in Section 506(b)(2)(ii) of Regulation D,
	 	 
	____	A
    natural person who had an individual income in excess of $200,000 in each of the two most recent calendar years, and has a
    reasonable expectation of reaching the same income level in the current calendar year. For purposes of this Exhibit A-1, “income”
    means annual adjusted gross income, as reported for federal income tax purposes, plus (i) the amount of any tax-exempt interest
    income received; (ii) the amount of losses claimed as a limited partner in a limited partnership; (iii) any deduction claimed
    for depletion; (iv) amounts contributed to an IRA or Keogh retirement plan; (v) alimony paid; and (vi) any amount by which
    income from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section
    1202 of the Internal Revenue Code of 1986, as amended.
	 	 
	____	A
    corporation, partnership, trust or other legal entity (as opposed to a natural person) and all of such entity’s
    equity owners fall into one or more of the categories enumerated above. (Note: additional documentation may be requested).

 

	 	 	 
	Name
    of Purchaser (Print)	 	Name
    of Joint Purchaser (if any) (Print) 
	 	 	 
	 	 	 
	Signature
    of Purchaser 	 	Signature
    of Joint Purchaser (if any)
	 	 	 
	 	 	 
	Capacity
    of Signatory (for entities)	 	Date
    

 

    	10

    	 

    

 

EXHIBIT
A-2 - REGULATION S PAGE 

FOR
NON-U.S. PURCHASERS

 

The
undersigned Purchaser (a “Reg S Person”) is not a U.S. Person as defined in Section 902 of Regulation S promulgated
under the Securities Act, and hereby represents that the representations in paragraphs (1) through (9) are true and correct with
respect to such Reg S Person.

 

	(1)	Such
    Reg S Person acknowledges and warrants that (i) the issuance and sale to such Reg S Person of the Securities is intended to
    be exempt from the registration requirements of the Securities Act, pursuant to the provisions of Regulation S; (ii) it is
    not a “U.S. Person,” as such term is defined in Regulation S and herein, and is not acquiring the Securities for
    the account or benefit of any U.S. Person; and (iii) the offer and sale of the Securities has not taken place, and is not
    taking place, within the United States of America or its territories or possessions. Such Reg S Person acknowledges that the
    offer and sale of the Securities has taken place, and is taking place in an “offshore transaction,” as such term
    is defined in Regulation S.
	 	 
	(2)	Such
    Reg S Person acknowledges and agrees that, pursuant to the provisions of Regulation S, the Securities cannot be sold, assigned,
    transferred, conveyed, pledged or otherwise disposed of to any U.S. Person or within the United States of America or its territories
    or possessions for a period of one year from and after the Closing Date, unless such Securities are registered for sale in
    the United States pursuant to an effective registration statement under the Securities Act or another exemption from such
    registration is available. Such Reg S Person acknowledges that it has not engaged in any hedging transactions with regard
    to the Securities.
	 	 
	(3)	Such
    Reg S Person consents to the placement of a legend on any certificate, note or other document evidencing the Securities and
    understands that the Company shall be required to refuse to register any transfer of Securities not made in accordance with
    applicable U.S. securities laws. 
	 	 
	(4)	Such
    Reg S Person is not a “distributor” of securities, as that term is defined in Regulation S, nor a dealer in securities.
    Such Reg S Person is purchasing the Securities as principal for its own account, for investment purposes only and not with
    an intent or view towards further sale or distribution (as such term is used in Section 2(11) of the Securities Act) thereof,
    and has not pre-arranged any sale with any other purchaser and has no plans to enter into any such agreement or arrangement.
	 	 
	(5)	Such
    Reg S Person is not an Affiliate of the Company nor is any Affiliate of such Reg S Person an Affiliate of the Company. An
    “Affiliate” is an individual or corporation, partnership, trust, incorporated or unincorporated association, joint
    venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity
    of any kind (each of the foregoing, a “Person”) that, directly or indirectly through one or more intermediaries,
    controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 405
    under the Securities Act. With respect to a Reg S Person, any investment fund or managed account that is managed on a discretionary
    basis by the same investment manager as such Reg S Person will be deemed to be an Affiliate of such Reg S Person.
	 	 
	(6)	Such
    Reg S Person understands that the Securities have not been registered under the Securities Act or the securities laws of any
    state and are subject to substantial restrictions on resale or transfer. The Securities are “restricted securities”
    within the meaning of Regulation S and Rule 144, promulgated under the Securities Act.
	 	 
	(7)	Such
    Reg S Person acknowledges that the Securities may only be sold offshore in compliance with Regulation S or pursuant to an
    effective registration statement under the Securities Act or another exemption from such registration, if available. In connection
    with any resale of the Securities pursuant to Regulation S, the Company will not register a transfer not made in accordance
    with Regulation S, pursuant to an effective registration statement under the Securities Act or in accordance with another
    exemption from the Securities Act.

 

	(8)	Such
    Reg S Person represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
    with the offering of the Securities, including: (a) the legal requirements within its jurisdiction for the purchase of the
    Securities; (b) any foreign exchange restrictions applicable to such purchase; (c) any governmental or other consents that
    may need to be obtained; and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase,
    holding, redemption, sale or transfer of the Securities. Such Reg S person’s subscription and payment for, and its continued
    beneficial ownership of the Securities, will not violate any applicable securities or other laws of the jurisdiction of its
    residence.
	 	 
	(9)	Such
    Reg S Person makes the representations, declarations and warranties as contained in this Exhibit A-2 with the intent that
    the same shall be relied upon by the Company in determining its suitability as a purchaser of such Securities.

 

	 	 	 
	Name
    of Purchaser (Print) 	 	Name
    of Joint Purchaser (if any) (Print)
	 	 	 
	 	 	 
	Signature
    of Purchaser 	 	Signature
    of Joint Purchaser (if any)
	 	 	 
	 	 	 
	Capacity
    of Signatory (for entities) 	 	Date
    

 

    	11

    	 

    

 

Exhibit
II to Subscription Agreement

 

Wire
Transfer Instructions to Gold Torrent Inc. Account:

 

	Beneficiary
    Bank: 	US
    Bank
	 	 
	Beneficiary
    Bank Address: 	US
    Bank Parkcenter Office
	 	PD-ID-3673
	 	301
    Parkcenter Blvd
	 	Boise,
    ID 83706
	 	 
	Routing/ABA
    number:	123103729
	 	 
	Account
    number:	153355613065
	 	 
	SWIFT
    code (if applicable):	USBKUS44IMT
	 	 
	Beneficiary
    Name:	Gold
    Torrent Inc.
	 	 
	Beneficiary
    Address:	960
    Broadway Ave.,
	 	Suite
    530
	 	Boise,
    ID 83706

 

    	12

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