Document:

EX-10.1

 Exhibit 10.1 

INSEEGO CORP.  

$40,000,000 
 EQUITY
DISTRIBUTION AGREEMENT 
 January 25, 2021 
 Canaccord
Genuity LLC 
 99 High Street, 12th Floor 

Boston, Massachusetts 02110 
 Ladies and Gentlemen: 

Inseego Corp., a Delaware corporation (the “Company”), confirms its agreement (this “Agreement”) with
Canaccord Genuity LLC (“Canaccord”), as follows: 
 1. Issuance and Sale of Shares. The Company agrees that, from
time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it will issue and sell through Canaccord, acting as sales agent, shares (the “Shares”) of the Company’s common stock,
$0.001 par value per share (the “Common Stock”) having an aggregate offering price of up to $40,000,000. The Shares will be sold on the terms set forth herein at such times and in such amounts as the Company and Canaccord shall
agree from time to time. The issuance and sale of the Shares through Canaccord will be effected pursuant to the Registration Statement (as defined below) filed by the Company with the Securities and Exchange Commission (the
“Commission”). 
 2. Placements. 
  

	 	(a)	 Placement Notice. Each time that the Company wishes to issue and sell Shares hereunder (each, a
“Placement”), it will notify Canaccord by e-mail notice (or other method mutually agreed to in writing by the parties) containing the parameters within which it desires to sell the Shares, which shall at a minimum include the number
of Shares (“Placement Shares”) to be issued, the time period during which sales are requested to be made, any limitation on the number of Shares that may be sold in any one day and any minimum price below which sales may not be made
(a “Placement Notice”), a form of which shall be mutually agreed upon by the Company and Canaccord. The Placement Notice shall originate from any of the individuals (each an “Authorized Representative”) from the
Company set forth on Schedule 1 (with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Canaccord set forth on Schedule 1 attached hereto, as such
Schedule 1 may be amended from time to time. The Placement Notice shall be effective upon confirmation by Canaccord unless and until (i) Canaccord declines to accept the terms contained therein for any reason, in its sole discretion, in
accordance with the notice requirements set forth in Section 4, (ii) the entire amount of the Placement Shares have been sold, (iii) the Company suspends or terminates the Placement Notice in accordance with the notice
requirements set forth in Section 4, (iv) the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, or (v) the Agreement has been terminated under the provisions
of Section 12. 

  

	 	(b)	 Placement Fee. The amount of compensation to be paid by the Company to Canaccord with respect to each
Placement (in addition to any expense reimbursement pursuant to Section 7(h)(ii)) shall be equal to 3.0% of gross proceeds from each Placement. 

  

	 	(c)	 No Obligation. It is expressly acknowledged and agreed that neither the Company nor Canaccord will have
any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to Canaccord, and then only upon the terms specified therein and herein. It is also expressly acknowledged that
Canaccord will be under no obligation to purchase Shares on a principal basis. In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice control. 

3. Sale of Placement Shares by Canaccord. Subject to the terms and conditions of this Agreement, upon the Company’s issuance of a
Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Canaccord will use its commercially reasonable efforts consistent
with its normal trading and sales practices to sell on behalf of the Company and as agent, such Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The Company acknowledges that Canaccord
will conduct the sale of Placement Shares in compliance with applicable law including, without limitation, Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and that such compliance may include
a delay in commencement of sales efforts after receipt of a Placement Notice. Canaccord will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) next following the Trading Day on which they
have made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation payable by the Company to Canaccord with respect to such sales, and the Net Proceeds (as defined below) payable to the
Company. Canaccord may sell Placement Shares by any method permitted by law deemed to be an “at the market offering” under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), including without
limitation sales made directly on The Nasdaq Global Select Market (the “Principal Trading Market”), on any other existing trading market for the Common Stock or to or through a market maker. Notwithstanding anything to the contrary
set forth in this Agreement or a Placement Notice, the Company acknowledges and agrees that (i) there can be no assurance that Canaccord will be successful in selling any Placement Shares or as to the price at which any Placement Shares are
sold, if at all, and (ii) Canaccord will incur no liability or obligation to the Company or any other person or entity if they do not sell Placement Shares for any reason other than a failure by Canaccord to use its commercially reasonable
efforts consistent with its normal trading and sales practices to sell on behalf of the Company and as agent such Placement Shares as provided under this Section 3. For the purposes hereof, “Trading Day” means any day on
which the Principal Trading Market is open for trading. 
 4. Suspension of Sales. The Company or Canaccord may, upon notice to the
other party in writing, by telephone (confirmed immediately by verifiable facsimile transmission) or by e-mail notice (or other method mutually agreed to in writing by the parties), suspend any sale of Placement Shares; provided, however, that such
suspension shall not affect or impair either party’s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice. The Company agrees that no such notice shall be effective against Canaccord unless it is
made to one of the individuals named on Schedule 1 hereto, as such Schedule may be amended from time to time. 
 5. Settlement.

  

	 	(a)	 Settlement of Placement Shares. Unless otherwise specified in the applicable Placement Notice,
settlement for sales of Placement Shares will occur on the second (2nd) Business Day (or such earlier day as is agreed by the parties to be industry practice for regular-way trading) following the date on which such sales are made (each a
“Settlement Date”). The amount of proceeds to be delivered to the Company on a Settlement Date against the receipt of the Placement Shares sold (“Net Proceeds”) will be equal to the aggregate sales price at which
such Placement Shares were sold, after deduction for (i) the commission or other compensation for such sales payable by the Company to Canaccord, as the case may be, pursuant to Section 2 hereof, as the case may be, (ii) any
other amounts due and payable by the Company to Canaccord hereunder pursuant to Section 7(h) hereof, and (iii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.

	 	(b)	 Delivery of Shares. On each Settlement Date, the Company will, or will cause its transfer agent to,
electronically transfer the Placement Shares being sold by crediting Canaccord’s accounts or its designee’s account at The Depository Trust Company through its Deposit Withdrawal Agent Commission System or by such other means of delivery
as may be mutually agreed upon by the parties hereto and, upon receipt of such Placement Shares, which in all cases shall be freely tradeable, transferable, registered shares in good deliverable form, Canaccord will, on each Settlement Date, deliver
the related Net Proceeds in same day funds delivered to an account designated by the Company prior to the Settlement Date. If the Company defaults in its obligation to deliver Placement Shares on a Settlement Date, the Company agrees that in
addition to and in no way limiting the rights and obligations set forth in Section 10 hereto, it will (i) hold Canaccord harmless against any loss, claim, damage, or expense (including actual, reasonable and documented legal fees
and expenses), as incurred, arising out of or in connection with such default by the Company and (ii) pay to Canaccord any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.

 6. Representations and Warranties of the Company. The Company represents and warrants to, and agrees with,
Canaccord that: 
  

	 	(a)	 Registration Statement and Prospectus. The Common Stock is registered pursuant to Section 12(b) of
the Exchange Act, and the Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the Commission (the “Commission Documents”) since the Company has been subject to the
requirements of Section 12 of the Exchange Act, and all of such filings required to be filed within the last 12 months have been made on a timely basis. The Common Stock is currently quoted on the Principal Trading Market under the trading
symbol “INSG”. To the Company’s knowledge, it is in compliance with all listing requirements of the Principal Trading Market for the continued listing of the Common Stock. The Company and the transactions contemplated hereby meet the
requirements for use of Form S-3 under the Securities Act and the rules and regulations thereunder (“Rules and Regulations”), including but not limited to the transaction requirements for an offering made by the issuer set forth in
Instruction I.B.1 to Form S-3. The Company has prepared and filed with the Commission a registration statement on Form S-3 (File No. 333-238057) with respect to the Shares to be offered and sold by the Company pursuant to this Agreement. Such
registration statement, at any given time, including the amendments thereto to such time, the exhibits and any schedules thereto at such time, the documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities
Act at such time and the documents otherwise deemed to be a part thereof or included therein by the Rules and Regulations is herein called the “Registration Statement.” The Registration Statement, including the base prospectus
contained therein (the “Base Prospectus”) was prepared by the Company in conformity, in all material respects, with the requirements of the Securities Act and all applicable Rules and Regulations. One or more prospectus supplements
(the “Prospectus Supplements,” and together with the Base Prospectus and any amendment thereto and all documents incorporated therein by reference, the “Prospectus”) have been or will be prepared by the Company in
conformity, in all material respects, with the requirements of the Securities Act and all applicable Rules and Regulations and have been or will be filed with the Commission in the manner and time frame required by the Securities Act and the Rules
and Regulations. The Registration Statement is an “automatic shelf registration statement,” as defined in Rule 405 under the Securities Act, that automatically became effective not more than three years prior to the date of this Agreement.
The Company has not received from the Commission any notice pursuant to Rule 401(g)(2) under the Securities Act objecting to use of the automatic shelf registration statement form and the Company has not otherwise ceased to be eligible to use the
automatic shelf registration form. Any amendment or supplement to the Registration Statement or Prospectus required by this Agreement will be so prepared and filed by the Company and, as applicable, the Company will use commercially reasonable
efforts to cause it to become effective as soon as reasonably practicable. No stop order 

	 	
suspending the effectiveness of the Registration Statement has been issued, and no proceeding for that purpose has been instituted or, to the knowledge of the Company, threatened by the
Commission. No order preventing or suspending the use of the Base Prospectus, the Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus has been issued by the Commission. Copies of all filings made by the Company under the
Securities Act and all Commission Documents that were filed with the Commission have either been delivered to Canaccord or made available to Canaccord on the Commission’s Electronic Data Gathering, Analysis, and Retrieval system
(“EDGAR”). Any reference herein to the Registration Statement, the Prospectus, or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated (or deemed to be incorporated) by reference
therein pursuant to Item 12 of Form S-3 under the Securities Act, and any reference herein to the terms “amend,” “amendment” or “supplement” with respect to the Registration Statement or Prospectus shall be deemed
to refer to and include the filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For the purposes of this Agreement, the “Applicable Time” means, with respect to any
Shares, the time of sale of such Shares pursuant to this Agreement. 

  

	 	(b)	 No Misstatement or Omission. Each part of the Registration Statement, when such part became effective,
at any deemed effective date pursuant to Rule 430B(f)(2) on the date of filing thereof with the Commission and at each Applicable Time and Settlement Date, and the Prospectus, on the date of filing thereof with the Commission and at each Applicable
Time and Settlement Date, conformed or will conform in all material respects with the requirements of the Securities Act and the Rules and Regulations; each part of the Registration Statement, when such part became effective, did not or will not
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus, on the date of filing thereof with the Commission, and the
Prospectus and the applicable Issuer Free Writing Prospectus(es) issued at or prior to such Applicable Time, taken together (collectively, and with respect to any Shares, together with the public offering price of such Shares, the
“Disclosure Package”) and at each Applicable Time and Settlement Date, did not or will not include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading; except that the foregoing shall not apply to statements or omissions in any such document made in reliance on information furnished in writing to the Company by Canaccord intended for use in
the Registration Statement, the Prospectus, or any amendment or supplement thereto. 

  

	 	(c)	 Conformity with Securities Act and Exchange Act. The documents incorporated by reference in the
Registration Statement or the Prospectus, or any amendment or supplement thereto, when they became effective under the Securities Act or were filed with the Commission under the Exchange Act, as the case may be, conformed 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, and none of such documents contained an untrue statement of a material fact or omitted to state a material
fact required to be stated therein or necessary to make the statements therein not misleading; and any further documents so filed and incorporated by reference in the Registration Statement or the Prospectus or any further amendment or supplement
thereto, when such documents become effective or are filed with the Commission, as the case may be, will conform to the requirements of the Securities Act or the Exchange Act, as applicable, and the rules and regulations of the Commission thereunder
and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; provided however, that this representation and warranty shall not
apply to any statements or omissions (a) that have been corrected in a filing that has been incorporated by reference in the Prospectus not less than 24 hours prior to the relevant Applicable Time or (b) made in reliance on information
furnished in writing to the Company by Canaccord intended for use in any such document. 

  

	 	(d)	 Financial Information. The consolidated financial statements and the related notes thereto and the
supporting schedules of the Company and all significant subsidiaries (as defined in Rule 1-02 (w) of Regulation S-X of the Exchange Act) of the Company (the “Subsidiaries”), together with the related notes, set forth or
incorporated by reference in the Registration Statement, Prospectus and Disclosure Package, have been and will be prepared in accordance with Regulation S-X under the Securities Act and with United States generally accepted accounting principles
consistently applied at the times and during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent they may
exclude footnotes or may be condensed or summary statements) and fairly present in all material respects and will fairly present in all material respects the financial position of the Company as of the dates thereof and the results of its operations
and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end adjustments); and the other financial information included or incorporated by reference in the Registration Statement, the Prospectus and the
Disclosure Package has been compiled on a basis consistent in all material respects with that of the financial statements and presents fairly in all material respects the information shown thereby. The Company does not have any material liabilities
or obligations, direct or contingent, which are not disclosed in the Registration Statement, Prospectus and Disclosure Package. 

  

	 	(e)	 Organization.  

 

	 	(i)	 The Company is duly incorporated and is validly existing as a corporation in good standing under the laws of
Delaware with full corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Registration Statement and Prospectus; and the Company is duly qualified as a foreign entity to transact
business and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure, individually or in the aggregate, to be so
qualified and be in good standing would not have a material adverse effect on (i) the consolidated business, operations, assets, properties, financial condition, prospects or results of operations of the Company and its Subsidiaries taken as a
whole, (ii) the transactions contemplated hereby or (iii) the ability of the Company to perform its obligations under this Agreement (collectively, a “Material Adverse Effect”). 

 

	 	(ii)	 Each of the Subsidiaries has been duly formed and is validly existing (and in good standing, where applicable)
under the laws of the jurisdiction of its formation, has full power and authority to own, lease and operate its properties and conduct its business as described in the Registration Statement and Prospectus and is duly qualified to transact business
and is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except where the failure to be so qualified and be in good standing would not
have a Material Adverse Effect. 

  

	 	(f)	 Subsidiaries. Except as described in the Prospectus, all of the assets described in the Prospectus as
owned by the Subsidiaries of the Company are owned directly by the Subsidiaries. Except for the Subsidiaries, the Company owns no beneficial interest, directly or indirectly, in any corporation, partnership, joint venture, limited liability company
or other entity. 

  

	 	(g)	 Encumbrances. Except as set forth in the Registration Statement, the Disclosure Package and the
Prospectus, each of the Company and its Subsidiaries has (i) good and marketable title to all of the properties and assets owned by it, free and clear of all liens, charges, claims, security interests or encumbrances (collectively,
“Encumbrances”), other than Encumbrances that would not have a Material Adverse Effect, and (ii) possession under all material leases to which it is party as lessee. All material leases and contracts to which the Company or its
Subsidiaries is a party are valid and binding and no material default has occurred and is continuing thereunder, and no event or circumstance that with the passage of time or giving of notice, or both, would constitute such a material default.

  

	 	(h)	 No Improper Practices. (i) Neither the Company nor the Subsidiaries, nor to the knowledge of the
Company, any director, officer, agent, employee or other person acting on behalf of the Company or the Subsidiaries, has, in the past five years, used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense
relating to political activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds, violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977;
or made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment; (ii) no relationship, direct or indirect, exists between or among the Company or, to the knowledge of the Company, the Subsidiaries or any affiliate of
either of them, on the one hand, and, to the knowledge of the Company, the directors, officers and stockholders of the Company or the Subsidiaries, on the other hand, that is required by the Securities Act or by the rules of the Financial Industry
Regulatory Authority (“FINRA”) to be described in the Registration Statement and the Prospectus that is not so described; and (iii) except as described in the Registration Statement and the Prospectus, there are no material
outstanding loans or advances or material guarantees of indebtedness by the Company or, to the knowledge of the Company, the Subsidiaries to or for the benefit of any of their respective officers or directors or any of the members of the families of
any of them. 

  

	 	(i)	 Investment Company Act. Neither the Company nor the Subsidiaries, is now or, after giving effect to the
offering and sale of the Shares, will be required to register as an “investment company” or an entity “controlled” by an “investment company,” as such terms are defined in the Investment Company Act of 1940, as amended
(the “Investment Company Act”). 

  

	 	(j)	 Capitalization. The Company has authorized and outstanding capitalization as set forth in the Prospectus
under the caption “Description of Securities” as of the date specified, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued and are fully paid and non-assessable and have been
issued in compliance with all applicable United States federal and state and, to the knowledge of the Company, all applicable foreign securities laws; and all of the issued shares of capital stock of the Subsidiaries of the Company have been duly
and validly authorized and issued and are fully paid and non-assessable and the shares of such Subsidiaries are owned directly or indirectly by the Company and, except as set forth in the Registration Statement, the Disclosure Package and the
Prospectus, are held free and clear of all material Encumbrances. Except as set forth in the Registration Statement and the Prospectus, and except with respect to equity awards issued under the Company’s equity incentive plans, there are no
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. 

 

	 	(k)	 The Shares. The Shares have been duly authorized and, when issued, delivered and paid for pursuant to
this Agreement, will be validly issued, fully paid and non-assessable, free and clear of all Encumbrances and will be issued in compliance with all applicable United States federal and state and all applicable foreign securities laws; the capital
stock of the Company, including the Common Stock, conforms in all material respects to the description thereof contained in the Registration Statement and the Common Stock, including the Placement Shares, will conform, in all material respects, to
the description thereof contained in the Prospectus as amended or supplemented. Neither the stockholders of the Company, nor any other person or entity have any preemptive rights or rights of first refusal with respect to the Placement Shares or
other rights to purchase or receive any of the Placement Shares or any other securities or assets of the Company, and no person has the right, contractual or otherwise, to cause the Company to issue to it, or register pursuant to the Securities Act,
any shares of capital stock or other securities or assets of the Company upon the issuance or sale of the Placement Shares. 

  

	 	(l)	 No Material Changes. Subsequent to the respective dates as of which information is given in the
Registration Statement, the Prospectus and the Disclosure Package, and except as may be otherwise stated or incorporated by reference in the Registration Statement, the Prospectus and the Disclosure Package, (i) neither the Company nor the
Subsidiaries has sustained any material loss or interference with the business of the Company and its Subsidiaries, taken as a whole, including without limitation, from fire, explosion, flood or other calamity or damage to any asset, whether or not
covered by insurance, or from any labor dispute or court or governmental action, order or decree; (ii) there have been no transactions entered into by the Company or the Subsidiaries which are material to the Company and its Subsidiaries,
considered as a whole, (iii) there has not been any change, development, or event that has caused, or would reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect and (iv) since the date of the latest
financial statements included or incorporated by reference in the Registration Statement and the Prospectus there has not been any material change, on a consolidated basis, in the authorized capital stock of the Company and its Subsidiaries, any
material increase in the short-term debt or long-term debt of the Company and its Subsidiaries, on a consolidated basis, or any dividend or distribution of any kind declared, set aside for payment, paid or made by the Company on any Class of Capital
Stock. 

  

	 	(m)	 Legal Proceedings. 

 

	 	(i)	 Except as set forth in the Prospectus, there is no legal, governmental, administrative or other claim,
proceeding, investigation, action, suit or inquiry pending, or, to the knowledge of the Company, threatened against or affecting the Company or its Subsidiaries or any of their respective properties or to which the Company or its Subsidiaries is or
may be a party or to which any property of the Company or its Subsidiaries is or may be the subject, or, to the knowledge of the Company, against any officer, director or employee of the Company or the Subsidiaries in connection with such
person’s employment therewith that, if determined adversely to the Company or the Subsidiaries or such officer, director or employee, would individually or in the aggregate have, or reasonably be expected to have, a Material Adverse Effect.
Neither the Company nor its Subsidiaries is a party to or subject to the provisions of, any order, writ, injunction, judgment or decree of any court or government agency or instrumentality which would have a Material Adverse Effect.

  

	 	(ii)	 There are no legal, governmental or administrative proceedings, investigations, actions, suits or inquiries or
contracts or documents of the Company or its Subsidiaries that are required to be described in or filed as exhibits to the Commission Documents, Registration Statement or any of the documents incorporated by reference therein by the Securities Act
or the Exchange Act or by the rules and regulations of the Commission thereunder that have not been so described or filed as required by the Securities Act or the Exchange Act and the Rules and Regulations under either of them.

  

	 	(n)	 Authorization; Enforceability. 

 

	 	(i)	 The Company has all requisite corporate power and authority to execute and deliver this Agreement and to
perform its obligations hereunder, to provide the representations, warranties and indemnities under this Agreement and all necessary action has been duly and validly taken by the Company to authorize the execution, delivery and performance of this
Agreement. This Agreement has been duly and validly authorized, executed and 

	 	
delivered by the Company and constitutes the legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as (A) rights to
indemnity or contribution hereunder may be limited by federal or state securities laws or public policy and (B) such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors
generally, concepts of reasonableness, and general principles of equity. 

  

	 	(ii)	 Executing and delivering this Agreement and the issuance and sale of the Shares and the compliance by the
Company with all of the provisions of this Agreement and the consummation of the transactions contemplated herein will not result in (A) a breach or violation of any of the terms and provisions of, or constitute a default under, any obligation,
agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan or credit agreement or other agreement or instrument to which the Company or its Subsidiaries is a party or by which either of them is bound or to which any
of the property of the Company or its Subsidiaries is subject, or the creation of any Encumbrance upon any assets of the Company or its Subsidiaries, (B) a violation of the Company’s certificate of incorporation or bylaws, or any statute
or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or its Subsidiaries or any of their properties, (C) the triggering, solely as a result of the Company’s execution and
delivery of this Agreement, of any preemptive or anti-dilution rights or rights of first refusal or first offer, or any similar rights (whether pursuant to a “poison pill” provision or otherwise), on the part of holders of the
Company’s securities or any other person or (D) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority having jurisdiction over the
Company or its Subsidiaries or any of their properties, except, in the case of clauses (A) and (D) above, as would not, individually or in the aggregate, have a Material Adverse Effect. Neither the Company nor its Subsidiaries or
affiliates, nor any person acting on its or their behalf, has issued or sold any shares of Common Stock or securities or instruments convertible into, exchangeable for and/or otherwise entitling the holder thereof to acquire shares of Common Stock
which would be integrated with the offer and sale of the Shares hereunder. 

  

	 	(o)	 Enforceability of Agreements. All agreements between the Company and third parties expressly referenced
in the Prospectus are legal, valid and binding obligations of the Company enforceable in accordance with their respective terms, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws affecting creditors’ rights generally and by general equitable principles and (ii) the indemnification provisions of certain agreements may be limited by federal or state securities laws or public policy considerations in
respect thereof and except for any unenforceability that, individually or in the aggregate, would not unreasonably be expected to have a Material Adverse Effect. 

 

	 	(p)	 No Violations or Default. Neither the Company nor its Subsidiaries is (i) in violation of any
provisions of its articles of incorporation, bylaws or any other governing document as amended and in effect on and as of the date hereof, (ii) in default (and no event has occurred which, with notice or lapse of time or both, would constitute
a default) under any indenture, mortgage, deed of trust, loan or credit agreement or any provision of any instrument or contract to which it is a party or by which it is bound that, individually or in the aggregate, would have a Material Adverse
Effect, or (iii) subject to a Company Repayment Event (as defined below). As used herein, “Company Repayment Event” means any event or condition which gives the holder of any note, debenture or other evidence of indebtedness
(or any person acting on such holder’s behalf) the right to require the repurchase, redemption or repayment prior to the stated maturity or date of mandatory redemption or repayment thereof of all or a portion of such indebtedness by the
Company or its Subsidiaries. 

  

	 	(q)	 Compliance with Laws. The Company and its Subsidiaries have not violated and are in compliance with all
laws, statutes, ordinances, regulations, rules and orders of each foreign, federal, state or local government and any other governmental department or agency having jurisdiction over the Company and the Subsidiaries, and any judgment, decision,
decree or order of any court or governmental agency, department or authority having jurisdiction over the Company and the Subsidiaries, except for such violations or noncompliance which, individually or in the aggregate, would not have a Material
Adverse Effect. 

  

	 	(r)	 Consents and Permits. The Company and its Subsidiaries possess all such licenses, permits, consents,
orders, certificates, authorizations, approvals, franchises and rights issued by and have obtained or made all such registrations with the appropriate federal, state, foreign or local regulatory agencies or judicial or governmental bodies that are
or will be necessary to conduct their business as described in the Registration Statement and the Prospectus except for licenses, permits, consents, orders, certificates, authorizations, approvals, franchises, rights or registrations, the absence of
which, individually or in the aggregate, would not have a Material Adverse Effect; the Company and its Subsidiaries have not received any notice of proceedings or investigations relating to the revocation or modification of any such licenses,
permits, consents, orders, certificates, authorizations, approvals, franchises, rights or registrations which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect. No
consent, approval, authorization, permit, or order of, or filing or registration with, any court or governmental or self-regulatory agency or body is required for the issue and sale of the Shares and the consummation by the Company of the
transactions contemplated by this Agreement, except as required pursuant to Section 9(h) below, and except the filing with the Commission of the Registration Statement (including the Prospectus) and amendments and supplements to the
Registration Statement and Prospectus related to the issue and sale of the Shares, filings related to the transactions contemplated hereby on Form 8-K and such consents, approvals, authorizations, registrations or qualifications as have already been
obtained or made or as may be required under state securities or Blue Sky laws. 

  

	 	(s)	 Insurance. Other than as set forth in the Prospectus, the Company and its Subsidiaries carry, or are
covered by, insurance in such amounts and covering such risks as the Company reasonably believes is prudent, reasonable and customary for companies engaged in similar businesses in similar industries; neither the Company nor its Subsidiaries has
received notice from any insurer or agent of such insurer that substantial capital improvements or other expenditures will have to be made in order to continue such insurance; all such insurance is outstanding and in full force and effect and
neither the Company nor the Subsidiaries has received any notice of cancellation or proposed cancellation relating to such insurance. 

  

	 	(t)	 Environmental Laws. Other than as set forth in the Prospectus, the Company and its Subsidiaries have
obtained all environmental permits, licenses and other authorizations required by federal, state, foreign and local law relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or
contaminants (“Environmental Laws”), in order to conduct their businesses as described in the Prospectus except where the failure to obtain a particular environmental permit, license, or authorization, has not or would not
reasonably be expected to, either individually or in the aggregate, result in a Material Adverse Effect; the Company and the Subsidiaries are conducting their businesses in compliance in all material respects with such permits, licenses and
authorizations and with applicable environmental laws; and, except as described in the Prospectus, the Company is not in violation of any federal, state, foreign or local law or regulation relating to the storage, handling, disposal, release or
transportation of hazardous or toxic materials except for such violations or noncompliance which, individually or in the aggregate, would not have a Material Adverse Effect. 

 

	 	(u)	 Independent Public Accountants. Marcum LLP, which has audited the consolidated balance sheets of the
Company as of December 31, 2019 and the consolidated statements of income, stockholders’ equity, and cash flows for the year then ended, which are all included in or incorporated by reference in the Registration Statement and the
Prospectus, is a registered independent public accounting firm as required by the Securities Act, the Rules and Regulations and the Exchange Act. 

  

	 	(v)	 Forward-Looking Statements. No forward looking statement within the meaning of Section 27A of the
Securities Act and Section 21E of the Exchange Act contained in the Commission Documents, the Registration Statement or the Prospectus, has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.

  

	 	(w)	 Intellectual Property. The Company and its Subsidiaries own or possess sufficient legal rights to all
patents, trademarks, service marks, tradenames, copyrights, trade secrets, licenses, information and proprietary rights and processes necessary for their respective businesses as now conducted (collectively, the “Company Intellectual
Property Rights”) without any conflict with, or infringement of, the rights of others, except where the failure to own or possess such Company Intellectual Property Rights, individually or in the aggregate, would not have a Material Adverse
Effect. Neither the Company nor the Subsidiaries has received any written communications alleging that the Company or its Subsidiaries has violated or, by conducting its business as now conducted, would violate any of the patents, trademarks,
service marks, service marks, tradenames or copyrights, of any other person or entity, except as would not, individually or in the aggregate, have a Material Adverse Effect. To the Company’s knowledge, all Company patents and trademarks are
enforceable and there is no existing infringement by any person of such Company Intellectual Property Rights. 

  

	 	(x)	 Taxes.  

  

	 	(i)	 The Company was not, for the immediately preceding taxable year, treated as, will not, for the current taxable
year, be treated as, and does not anticipate that, for any subsequent taxable year, it will be treated as a “passive foreign investment company,” a “foreign investment company” or a “foreign personal holding company”
for United States federal income tax purposes. 

  

	 	(ii)	 The Company has filed all United States federal and state and all applicable local and foreign income tax
returns which have been required to be filed, except in any case in which the failure to so file would not have a Material Adverse Effect. 

  

	 	(iii)	 The Company has paid all United States federal, state and local and foreign taxes required to be paid and any
other assessment, fine or penalty levied against it, to the extent that any of the foregoing would otherwise be delinquent, except, in all cases, for any such tax, assessment, fine or penalty that is being contested in good faith and except in any
case in which the failure to so pay would not result in a Material Adverse Effect. 

  

	 	(iv)	 No stamp or other issuance or transfer taxes or duties and no capital gains, income, withholding or other taxes
are payable by or on behalf of Canaccord to any political subdivision or taxing authority in connection with the sale and delivery by the Company of the Placement Shares to or for the account of Canaccord or the sale and delivery by Canaccord of the
Placement Shares to the purchasers thereof. 

  

	 	(y)	 No Reliance. The Company has not relied upon Canaccord or legal counsel for Canaccord for any legal, tax
or accounting advice in connection with the offering and sale of the Placement Shares. 

	 	(z)	 [Reserved]. 

  

	 	(aa)	 Disclosure Controls. 

 

	 	(i)	 The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule
13a-15 under the Exchange Act), which (a) are designed to ensure that material information relating to the Company, including its consolidated Subsidiaries, is made known to the Company’s principal executive officer and its principal
financial officer by others within those entities, particularly during the preparation of the Registration Statement; (b) have been evaluated for effectiveness as of the date of the filing of the Registration Statement with the Commission; and
(c) are effective in all material respects to perform the functions for which they were established. 

  

	 	(ii)	 The Company (a) makes and keeps accurate books and records and (b) maintains internal accounting
controls which provide reasonable assurance that (1) transactions are executed in accordance with management’s authorization, (2) transactions are recorded as necessary to permit preparation of its financial statements and to maintain
accountability for its assets, (3) access to its assets is permitted only in accordance with management’s authorization and (4) the reported accountability for its assets is compared with existing assets at reasonable intervals and
appropriate action is taken with respect to any differences. 

  

	 	(bb)	 Accounting Controls. There is no (i) significant deficiency or material weakness in the design or
operation of internal controls over financial reporting; or (ii) fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls over financial reporting.

  

	 	(cc)	 Certain Market Activities. The Company has not taken, directly or indirectly, any action designed to, or
that might be reasonably expected to, cause or result in stabilization or manipulation of the price of the Common Stock. 

  

	 	(dd)	 Broker/Dealer Relationships. Neither the Company nor the Subsidiaries or any related entities
(i) is required to register as a “broker” or “dealer” in accordance with the provisions of the Exchange Act or (ii) directly or indirectly through one or more intermediaries, controls or is a “person associated
with a FINRA member” or “associated person of a FINRA member” (within the meaning of Article I of the Bylaws of the FINRA). 

  

	 	(ee)	 Sarbanes-Oxley. The principal executive officer and principal financial officer of the Company have made
all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley Act”) with respect to all reports, schedules, forms,
statements and other documents required to be filed by it with the Commission, and the statements contained in any such certification are complete and correct. The Company, and to its knowledge, all of the Company’s directors or officers, in
their capacities as such, are in compliance in all material respects with all applicable effective provisions of the Sarbanes-Oxley Act. 

  

	 	(ff)	 Finder’s Fees. Neither the Company nor the Subsidiaries has incurred any liability for any
brokerage commission, finder’s fees or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to Canaccord pursuant to this Agreement. 

 

	 	(gg)	 Labor Disputes. There are no existing or, to the knowledge of the Company, threatened labor disputes
with the employees of the Company or its Subsidiaries which would reasonably be expected to have a Material Adverse Effect. 

  

	 	(hh)	 Canaccord Purchases. The Company acknowledges and agrees that Canaccord has informed the Company that
Canaccord may, to the extent permitted under the Securities Act and the Exchange Act, purchase and sell shares of Common Stock for Canaccord’s own account and for the account of its clients at the same time as sales of Placement Shares occur
pursuant to this Agreement. 

  

	 	(ii)	 No Registration Rights. Except as may be described in the Prospectus, neither the Company nor its
Subsidiaries is party to any agreement that provides any person with the right to require the Company or its Subsidiaries to register any securities for sale under the Securities Act by reason of the filing of the Registration Statement with the
Commission or the issuance and sale of the Placement Shares. 

  

	 	(jj)	 Prospectus Disclosure. The statements set forth in the Prospectus under the caption “Description of
Capital Stock” insofar as they purport to constitute a summary of the terms of the Shares, and under the caption “Plan of Distribution,” insofar as they purport to describe the provisions of the laws and documents referred to therein,
are accurate and complete in all material respects. 

  

	 	(kk)	 OFAC. To the knowledge of the Company, none of the Company, its Subsidiaries or any director, officer,
agent, employee or affiliate of the Company or its Subsidiaries is currently the target of any proceeding, investigation, suit or other action arising out of any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S.
Department of the Treasury (“OFAC”); and the Company will not directly or indirectly use the proceeds of the offering of the Placement Shares hereunder, or lend, contribute or otherwise make available such proceeds to any
subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC. 

 

	 	(ll)	 Operations. The operations of the Company and its Subsidiaries are and have been conducted at all times
in compliance with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions to which the Company and its
Subsidiaries are subject, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”),
except as would not reasonably be expected to result in a Material Adverse Effect; and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or its Subsidiaries with
respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

  

	 	(mm)	 Off-Balance Sheet Arrangements. There are no transactions, arrangements and other relationships between
and/or among the Company, and/or, to the knowledge of the Company, any of its affiliates and any unconsolidated entity, including, but not limited to, any structural finance, special purpose or limited purpose entity (each, an “Off Balance
Sheet Transaction”) that would reasonably be expected to affect materially the Company’s liquidity or the availability of or requirements for its capital resources, including those Off Balance Sheet Transactions described in the
Commission’s Statement about Management’s Discussion and Analysis of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus which have not been described as
required. 

  

	 	(nn)	 ERISA. Each material employee benefit plan, within the meaning of Section 3(3) of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), that is maintained, administered or contributed to by the Company or any of its affiliates for employees or former employees of the Company and its Subsidiaries has been
maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the “Code”); no
prohibited transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in a material liability to the Company with respect to any such plan excluding transactions effected pursuant
to a statutory or administrative exemption; and for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, no “accumulated funding deficiency” as defined in Section 412 of the
Code has been incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined
using reasonable actuarial assumptions. 

  

	 	(oo)	 No Misstatement or Omission in an Issuer Free Writing Prospectus. Each issuer free writing prospectus,
as defined in Rule 405 under the Securities Act (an “Issuer Free Writing Prospectus”), as of the Applicable Time did not or will not contain an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided, however, that the Company makes no representation or warranty with respect to any statement contained in
any Issuer Free Writing Prospectus in reliance upon and in conformity with written information furnished to the Company by and through Canaccord for use therein. 

 

	 	(pp)	 Conformity of Issuer Free Writing Prospectus. Each Issuer Free Writing Prospectus conformed or will
conform in all material respects with the requirements of the Securities Act on the date of first use, and the Company has complied or will comply with any filing requirements applicable to such Issuer Free Writing Prospectus pursuant to the
Securities Act. Each Issuer Free Writing Prospectus, as of its issue date and at all subsequent times through the completion of the public offer and sale of the Placement Shares, did not, does not and will not include any information that
conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including any document incorporated by reference therein that has not been superseded or modified. The Company has not made any
offer relating to the Shares that would constitute an Issuer Free Writing Prospectus without the prior written consent of Canaccord. The Company has retained in accordance with the Securities Act all Issuer Free Writing Prospectuses that were not
required to be filed pursuant to the Securities Act. 

  

	 	(qq)	 FINRA Exemption. To enable Canaccord to rely on Rule 5110(b)(7)(C)(i) of FINRA, the Company represents
that, (i) as of a date within 60 days of the date of this Agreement, the Company had a non-affiliate, public common equity float of at least $150 million or a non-affiliate, public common equity float of at least $100 million and annual trading
volume of at least three million shares and (ii) as of the date of this Agreement, has been subject to the Exchange Act reporting requirements for a period of at least 36 months. 

7. Covenants of the Company. The Company covenants and agrees with Canaccord that: 

 

	 	(a)	 Registration Statement Amendments. After the date of this Agreement and during the period in which a
prospectus relating to the Placement Shares is required to be delivered by Canaccord under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 or Rule 173(a) under the Securities Act),
(i) the Company will notify Canaccord promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and has become effective (each, a
“Registration Statement Amendment Date”) or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for
additional information; (ii) the Company will file promptly all other material required to be filed by it with 

	 	
the Commission pursuant to Rule 433(d) under the Securities Act; (iii) it will prepare and file with the Commission, promptly upon Canaccord’s request, any amendments or supplements to
the Registration Statement or Prospectus that, in Canaccord’s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by Canaccord (provided, however that the failure of Canaccord to make
such request shall not relieve the Company of any obligation or liability hereunder, or affect Canaccord’s right to rely on the representations and warranties made by the Company in this Agreement and provided, further that the only remedy
Canaccord shall have with respect to the failure by the Company to make such filing shall be to cease making sales under this Agreement); (iv) the Company will submit to Canaccord a copy of any amendment or supplement to the Registration
Statement or Prospectus a reasonable period of time before the filing thereof and will afford Canaccord and Canaccord’s counsel a reasonable opportunity to comment on any such proposed filing prior to such proposed filing; and (v) it will
furnish to Canaccord at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference in the Registration Statement or Prospectus, except for those documents available via EDGAR; and the Company will
cause each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424 (b) of the Rules and Regulations or, in the case of any document to be incorporated therein by
reference, to be filed with the Commission as required pursuant to the Exchange Act, within the time period prescribed. 

  

	 	(b)	 Notice of Commission Stop Orders. The Company will advise Canaccord, 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 the Prospectus or other prospectus in respect of the Shares, of any notice of objection of the Commission to the use of the form of the
Registration Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, of the suspension of the qualification of the Shares 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 form of the Registration Statement or the Prospectus or for additional information; and, in the event of the issuance of any such stop
order or of any such order preventing or suspending the use of the Prospectus in respect of the Shares or suspending any such qualification, to promptly use its commercially reasonable efforts to obtain the withdrawal of such order; and in the event
of any such issuance of a notice of objection, promptly to take such reasonable steps as may be necessary to permit offers and sales of the Placement Shares by Canaccord, which may include, without limitation, amending the Registration Statement or
filing a new registration statement, at the Company’s expense (references herein to the Registration Statement shall include any such amendment or new registration statement). 

 

	 	(c)	 Delivery of Prospectus; Subsequent Changes. Within the time during which a prospectus relating to the
Shares is required to be delivered by Canaccord under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172 or Rule 173(a) under the Securities Act), the Company will comply with all requirements
imposed upon it by the Securities Act and by the Rules and Regulations, as from time to time in force, and will file on or before their respective due dates all reports required to be filed by it with the Commission pursuant to Sections 13(a),
13(c), 15(d), if applicable, or any other provision of or under the Exchange Act. If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of material fact or omit
to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply
with the Securities Act, the Company will immediately notify Canaccord to suspend the offering of Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so
as to correct such statement or omission or effect such compliance. 

	 	(d)	 Exchange Filings. In connection with the offering and sale of the Placement Shares, the Company will
file with The Nasdaq Global Select Market all documents and notices, and make all certifications, required by The Nasdaq Global Select Market of companies that have securities that are listed on The Nasdaq Global Select Market.

  

	 	(e)	 Listing of Placement Shares. The Company will use commercially reasonable efforts to cause the Placement
Shares to be listed on the Principal Trading Market and to qualify the Placement Shares for sale under the securities laws of such jurisdictions as Canaccord designates and to continue such qualifications in effect so long as required for the
distribution of the Placement Shares; provided that the Company shall not be required in connection therewith to qualify as a foreign corporation or to file a general consent to service of process in any jurisdiction. 

 

	 	(f)	 Delivery of Registration Statement and Prospectus. The Company will furnish to Canaccord and its counsel
(at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the
Commission during the period in which a prospectus relating to the Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to be incorporated by reference
therein), in each case as soon as reasonably practicable and in such quantities as Canaccord may from time to time reasonably request and, at Canaccord’s request, will also furnish copies of the Prospectus to each exchange or market on which
sales of Placement Shares may be made; provided, however that the Company shall not be required to furnish any document (other than the Prospectus) to Canaccord to the extent such document is available on EDGAR. 

 

	 	(g)	 Earnings Statement. To the extent not available on EDGAR, the Company will make generally available to
its security holders, as soon as practicable, an earnings statement covering a 12-month period that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 of the Rules and Regulations. 

 

	 	(h)	 Expenses. 

  

	 	(i)	 The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is
terminated, will pay all expenses incident to the performance of its obligations hereunder, including but not limited to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each
Prospectus and of each amendment and supplement thereto and each Issuer Free Writing Prospectus (as defined in Section 8 of this Agreement), (ii) the preparation, issuance and delivery of the Placement Shares, (iii) all fees
and disbursements of the Company’s counsel, accountants and other advisors, (iv) the qualification of the Placement Shares under securities laws in accordance with the provisions of Section 7(e) of this Agreement, including
filing fees in connection therewith, (v) the printing and delivery to Canaccord of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (vi) the fees and expenses incurred in connection with the
listing or qualification of the Placement Shares for trading on the Principal Trading Market and (vii) any filing fees and expenses related to the Commission and the Financial Industry Regulatory Authority (including reasonable fees and
disbursements of counsel to Canaccord incurred in connection therewith). 

  

	 	(ii)	 In addition to any fees that may be payable to Canaccord hereunder and regardless of whether or not the
transactions contemplated hereunder are consummated or this Agreement is terminated, the Company shall reimburse Canaccord for all of its actual, reasonable and documented out-of-pocket expenses, in an amount not to exceed $50,000, arising out of
this Agreement (including economy travel and related expenses, the costs of document preparation, production and distribution, third party research and database services and the actual, reasonable and documented out-of-pocket fees and disbursements
of counsel to Canaccord) within ten (10) days of the presentation by Canaccord to the Company of a reasonably detailed statement therefor. 

	 	(i)	 Use of Proceeds. The Company will use the Net Proceeds as described in the Prospectus.

  

	 	(j)	 Other Sales. Without the prior written consent of Canaccord (which consent shall not be unreasonably
withheld, conditioned or delayed), the Company will not (i) directly or indirectly, offer to sell, sell, announce the intention to sell, contract to sell, pledge, lend, grant or sell any option, right or warrant to sell or any contract to
purchase, purchase any contract or option to sell or otherwise transfer or dispose of any shares of Common Stock (other than the Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Common
Stock, warrants or any rights to purchase or acquire, Common Stock or file any registration statement under the Securities Act with respect to any of the foregoing (other than a shelf registration statement under Rule 415 under the Securities Act, a
registration statement on Form S-8 or a post-effective amendment to the Registration Statement), or (ii) enter into any swap or other agreement or any transaction that transfers in whole or in part, directly or indirectly, any of the economic
consequence of ownership of the Common Stock, or any securities convertible into or exchangeable or exercisable for or repayable with Common Stock, whether any such swap or transaction described in clause (i) or (ii) above is to be settled
by delivery of Common Stock or such other securities, in cash or otherwise, during the period beginning on the fifth (5th) Business Day immediately prior to the date on which any Placement Notice is delivered by the Company hereunder and ending
on the second (2nd) Business Day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice. The foregoing sentence shall not apply to (A) Common Stock or securities convertible
into or exchangeable for shares of Common Stock as consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after the date of this Agreement which are not issued for capital raising purposes,
(B) Common Stock, options or other rights to purchase Common Stock or Common Stock issuable upon the exercise of options or upon the lapse of forfeiture restrictions on awards made pursuant to any employee or director stock incentive or
benefits plan, stock ownership plan (including shares of Common Stock withheld by the Company for the purpose of paying on behalf of the holder thereof the exercise price of stock options or for paying taxes due as a result of such exercise or lapse
of forfeiture restrictions) or dividend reinvestment plan (but not Common stock subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the Company whether now in effect or hereafter implemented, (C) Common Stock,
options or other rights to purchase Common Stock or Common Stock issuable upon the exercise of options or upon the lapse of forfeiture restrictions on awards made pursuant to any stock option exchange program of the Company, whether now in effect or
hereafter implemented, (D) any securities issuable upon the exercise or conversion of warrants, options, convertible securities or rights either in existence prior to the date of this Agreement or issued thereafter in compliance with this
Section 7(j), (E) shares of Common Stock related to the filing by the Company of any registration statement on Form S-8 or a successor form thereto relating to shares of Common Stock granted under any equity compensation plan or
employee stock purchase plan, and (F) equity incentive awards approved by the board of directors of the Company or the compensation committee thereof or the issuance of Common Stock upon exercise thereof. 

 

	 	(k)	 Change of Circumstances. The Company will, at any time a Placement Notice is outstanding, advise
Canaccord immediately after it shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect any opinion, certificate, letter or other document provided to Canaccord in connection with such Placement
Notice; and without the prior written consent of Canaccord (which consent shall not be unreasonably withheld, 

	 	
conditioned or delayed), the Company will not directly or indirectly in any other “at the market” or continuous equity transaction offer to sell, sell, contract to sell, grant any
option to sell or otherwise dispose of any shares of Common Stock (other than the Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to
purchase or acquire, Common Stock prior to the later of the termination of this Agreement and the tenth (10th) day immediately following the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice;
provided, however, that such restrictions will not be applicable to the Company’s issuance or sale of (i) Common Stock, options to purchase shares of Common Stock or Common Stock issuable upon the exercise of options, restricted stock
awards, restricted stock unit awards, Common Stock issuable upon vesting of restricted stock unit awards, or other equity awards or Common Stock issuable upon exercise or vesting of equity awards, pursuant to any employee or director (x) equity
award or benefits plan or otherwise approved by the Company’s Board of Directors, (y) stock ownership or stock purchase plan or (z) dividend reinvestment plan (but not shares subject to a waiver to exceed plan limits in its dividend
reinvestment plan) of the Company whether now in effect or hereafter implemented, and (ii) Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights in effect or outstanding on the date hereof or
otherwise disclosed in the Registration Statement, Disclosure Package or Prospectus. 

  

	 	(l)	 Due Diligence Cooperation. The Company will cooperate with any reasonable due diligence review conducted
by Canaccord or its agents, including, without limitation, providing information and making available documents and the Company’s senior corporate officers, as Canaccord may reasonably request; provided, however, that the Company shall be
required to make available senior corporate officers only (i) by telephone or at the Company’s principal offices and (ii) during the Company’s ordinary business hours. 

 

	 	(m)	 Affirmation of Representations, Warranties, Covenants and Other Agreements. Upon commencement of the
offering of the Placement Shares under this Agreement (and upon the recommencement of the offering of the Placement Shares under this Agreement following any termination of a suspension of sales hereunder), and at each Applicable Time, the Company
shall be deemed to have affirmed each representation, warranty, covenant and other agreement contained in this Agreement. 

  

	 	(n)	 Required Filings Relating to Placement of Placement Shares. In each Annual Report on Form 10-K or
Quarterly Report on Form 10-Q filed by the Company in respect of any quarter in which sales of Placement Shares were made by Canaccord under this Agreement, the Company shall set forth with regard to such quarter the number of Shares sold through
the Canaccord under this Agreement, the Net Proceeds received by the Company and the compensation paid by the Company to Canaccord with respect to sales of Placement Shares pursuant to this Agreement. 

 

	 	(o)	 Representation Dates; Certificate. During the term of this Agreement, on the date of each Placement
Notice given hereunder, promptly upon each request of Canaccord, and each time the Company (i) files the Prospectus relating to the Placement Shares or amends or supplements the Registration Statement or the Prospectus relating to the Placement
Shares by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on
Form 10-K under the Exchange Act; (iii) files its quarterly reports on Form 10-Q under the Exchange Act; or (iv) files a report on Form 8-K containing amended financial information (other than an earnings release, to “furnish”
information pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassifications of certain properties as discontinued operations in accordance with Statement of Financial
Accounting Standards No. 144) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date”);

	 	
provided, however, that a Representation Date shall occur pursuant to clauses (i) and (iv) above only if Canaccord reasonably determines that the information contained in such filings
is material; the Company shall furnish Canaccord with a certificate, in the form attached hereto as Exhibit A. The requirement to provide a certificate under this Section 7(o) shall be waived for any Representation Date occurring
at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and
the next occurring Representation Date; provided, however, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form 10-K. 

Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when the Company
relied on such waiver and did not provide Canaccord with a certificate under this Section 7(o), then before the Company delivers the Placement Notice or Canaccord sells any Placement Shares, the Company shall provide Canaccord with a
certificate, in the form attached hereto as Exhibit A, dated the date of the Placement Notice. 
  

	 	(p)	 Legal Opinions. Upon execution of this Agreement, upon the recommencement of the offering of Placement
Shares under this Agreement following any termination of a suspension of sales hereunder, and within three (3) trading days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached
hereto as Exhibit A for which no waiver is applicable, the Company will furnish or cause to be furnished to Canaccord and to counsel to Canaccord the written opinion and negative assurance letter of Paul Hastings LLP, counsel for the Company,
dated the date the opinion and letter are required to be delivered, as the case may be, in a form and substance reasonably satisfactory to Canaccord and its counsel, or, in lieu of such opinion and letter, counsel last furnishing such opinion and
letter to Canaccord shall furnish Canaccord with a letter substantially to the effect that Canaccord may rely on such last opinion and letter to the same extent as though each were dated the date of such letter authorizing reliance (except that
statements in such last opinion and letter shall be deemed to relate to the Registration Statement and the Prospectus as amended and supplemented to the time of delivery of such letter authorizing reliance). 

 

	 	(q)	 Comfort Letters. Upon the execution of this Agreement, upon the recommencement of the offering of the
Placement Shares under this Agreement following any termination of a suspension of sales hereunder, and within three (3) trading days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the
form attached hereto as Exhibit A for which no waiver is applicable, the Company shall cause its independent accountants to furnish Canaccord letters dated the date of effectiveness of the Registration Statement or the date of such
recommencement or the date of such Representation Date, as the case may be (the “Comfort Letters”), in form and substance satisfactory to Canaccord, (i) confirming that they are registered independent public accountants within
the meaning of the Securities Act and are in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X of the Commission, (ii) stating, as of such date, the conclusions and
findings of such firm with respect to the financial information and other matters included in or incorporated by reference in the Registration Statement as ordinarily covered by accountants’ “comfort letters” to underwriters in
connection with registered public offerings (the first such letters, the “Initial Comfort Letters”) and (iii) updating the Initial Comfort Letters with any information which would have been included in the Initial
Comfort Letters had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letters. 

 

	 	(r)	 Market Activities. The Company will not, directly or indirectly, (i) take any action designed to
cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Shares or (ii) sell, bid for, or
purchase the Shares, or pay anyone any compensation for soliciting purchases of the Shares other than Canaccord. 

	 	(s)	 Insurance. The Company and its Subsidiaries shall maintain, or cause to be maintained, insurance in such
amounts and covering such risks as the Company reasonably believes is reasonable and customary for companies engaged in similar businesses in similar industries. 

 

	 	(t)	 Compliance with Laws. The Company and its Subsidiaries shall comply with all applicable federal, state
and local or foreign law, rule, regulation, ordinance, order or decree, except where failure to so comply would not reasonably be expected to have a Material Adverse Effect. Furthermore, the Company and its Subsidiaries shall maintain, or cause to
be maintained, all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company and its Subsidiaries shall conduct
their businesses, or cause their businesses to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits,
licenses and authorizations would not reasonably be expected to have a Material Adverse Effect. 

  

	 	(u)	 Investment Company Act. The Company will conduct its affairs in such a manner so as to reasonably ensure
that neither it nor the Subsidiaries will be or become, at any time prior to the termination of this Agreement, an “investment company,” as such term is defined in the Investment Company Act, assuming no change in the Commission’s
current interpretation as to entities that are not considered an investment company. 

  

	 	(v)	 Securities Act and Exchange Act. The Company will use commercially reasonable efforts to comply with all
requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Shares as contemplated by the provisions hereof and the Prospectus.

  

	 	(w)	 No Offer to Sell. Other than a free writing prospectus (as defined in Rule 405 under the Securities Act)
approved in advance by the Company and Canaccord in its capacity as principal or agent hereunder, neither Canaccord nor the Company (including its agents and representatives, other than Canaccord in its capacity as such) will make, use, prepare,
authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed by it with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Common Stock hereunder.

  

	 	(x)	 Sarbanes-Oxley Act. The Company and the Subsidiaries will use their commercially reasonable efforts to
comply with all effective applicable provisions of the Sarbanes-Oxley Act. 

  

	 	(y)	 Consent to Canaccord Trading. The Company consents to Canaccord trading in the shares of Common Stock of
the Company for Canaccord’s own account and for the account of its clients at the same time as sales of Placement Shares occur pursuant to this Agreement. 

 

	 	(z)	 Rescission Offers. If, to the knowledge of the Company, all filings required by Rule 424 in connection
with this offering shall not have been made or the representations in Section 6 shall not be true and correct, in all material respects, on the applicable Settlement Date, the Company will offer to any person who has agreed to purchase
Placement Shares from the Company as the result of an offer to purchase solicited by Canaccord the right to refuse to purchase and pay for such Placement Shares. 

	 	(aa)	 Actively Traded Security. If, at the time of execution of this Agreement, the Company’s Common
Stock is not an “actively traded security” exempted from the requirements of Rule 101 of Regulation M under the Exchange Act by subsection (c)(1) of such rule, the Company shall notify Canaccord at the time the Common Stock becomes an
“actively traded security” under such rule. Furthermore, the Company shall notify Canaccord immediately if the Common Stock, having once qualified for such exemption, ceases to so qualify. 

 

	 	(bb)	 SEC Filing Fees. The Company will pay the required Commission filing fees relating to the Placement
Shares within the time required by Rule 456(b)(1) under the Securities Act without regard to the proviso therein and otherwise in accordance with Rules 456(b) and 457(r) under the Securities Act. 

8. Additional Representations and Covenants of the Company. 
  

	 	(a)	 Issuer Free Writing Prospectuses. 

 

	 	(i)	 The Company represents that it has not made, and covenants that, unless it obtains the prior written consent of
Canaccord, it will not make any offer relating to the Shares that would constitute a “free writing prospectus” (as defined in Rule 405 of the Securities Act) (an “Issuer Free Writing Prospectus”) required to be filed by it
with the Commission or retained by the Company under Rule 433 of the Securities Act; except as set forth in a Placement Notice, no use of any Issuer Free Writing Prospectus has been consented to by Canaccord. The Company agrees that it will comply
with the requirements of Rules 164 and 433 of the Securities Act applicable to any Issuer Free Writing Prospectus, including timely filing with the Commission or retention where required and legending. 

 

	 	(ii)	 The Company agrees that no Issuer Free Writing Prospectus, if any, will include any information that conflicts
with the information contained in the Registration Statement, including any document incorporated by reference therein that has not been superseded or modified, or the Prospectus. In addition, no Issuer Free Writing Prospectus, if any, will include
an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; provided however, the foregoing shall not apply to any
statements or omissions in any Issuer Free Writing Prospectus made in reliance on information furnished in writing to the Company by Canaccord intended for use therein. 

 

	 	(iii)	 The Company agrees that if at any time following issuance of an Issuer Free Writing Prospectus any event
occurred or occurs as a result of which such Issuer Free Writing Prospectus would conflict with the information in the Registration Statement, including any document incorporated by reference therein that has not been superseded or modified, or the
Prospectus or would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, the Company will give prompt
notice thereof to Canaccord and, if requested by Canaccord, will prepare and furnish without charge to Canaccord an Issuer Free Writing Prospectus or other document which will correct such conflict, statement or omission; provided, however, the
foregoing shall not apply to any statements or omissions in any Issuer Free Writing Prospectus made in reliance on information furnished in writing to the Company by Canaccord intended for use therein. 

 

	 	(b)	 Non-Issuer Free Writing Prospectus. The Company consents to the use by Canaccord of a free writing
prospectus that (a) is not an “Issuer Free Writing Prospectus” as defined in Rule 433 under the Securities Act, and (b) contains only information describing the preliminary terms of the Shares or their offering, or information
permitted under Rule 134 under the Securities Act; provided that Canaccord covenants with the Company not to take any action that would result in the Company being required to file with the Commission under Rule 433(d) under the Securities Act a
free writing prospectus prepared by or on behalf of Canaccord that otherwise would not be required to be filed by the Company thereunder, but for the action of Canaccord. 

	 	(c)	 Distribution of Offering Materials. The Company has not distributed and will not distribute, during the
term of this Agreement, any offering materials in connection with the offering and sale of the Placement Shares other than the Registration Statement, Prospectus or any Issuer Free Writing Prospectus reviewed and consented to by Canaccord and
included in a Placement Notice (as described in clause (a)(i) above). 

 9. Conditions to Canaccord’s
Obligations. The obligations of Canaccord hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein and in the applicable Placement Notices
(other than those representations and warranties made as of a specific date or time), to the due performance by the Company of its obligations hereunder, to the completion by Canaccord of a due diligence review satisfactory to Canaccord in its
reasonable judgment, and to the continuing satisfaction (or waiver by Canaccord in its sole discretion) of the following additional conditions: 
  

	 	(a)	 Registration Statement Effective. The Registration Statement shall be effective and shall be available
for the sale of (i) all Placement Shares issued pursuant to all prior Placements and not yet sold by Canaccord and (ii) all Placement Shares contemplated to be issued by the Placement Notice relating to such Placement.

  

	 	(b)	 No Material Notices. None of the following events shall have occurred and be continuing:
(i) receipt by the Company of any request for additional information from the Commission or any other federal or state or foreign or other governmental, administrative or self-regulatory authority during the period of effectiveness of the
Registration Statement, the response to which might reasonably require any amendments or supplements to the Registration Statement or the Prospectus; (ii) the issuance by the Commission or any other federal or state or foreign or other
governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the
qualification or exemption from qualification of any of the Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the occurrence of any event that makes any statement made in the
Registration Statement or the Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or
documents so that, in the case of the Registration Statement, it will not 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 not misleading,
and in the case of the Prospectus, it will not 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, in the light of the circumstances under
which they were made, not misleading; and (v) the Company’s reasonable determination that a post-effective amendment to the Registration Statement would be appropriate. 

 

	 	(c)	 No Misstatement or Material Omission. Canaccord shall not have advised the Company that the Registration
Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Canaccord’s reasonable opinion is material, or omits to state a fact that in Canaccord’s reasonable opinion is material and is
required to be stated therein or is necessary to make the statements therein not misleading. 

  

	 	(d)	 Material Changes. Except as contemplated and appropriately disclosed in the Prospectus, or disclosed in
the Company’s reports filed with the Commission, in each case at the time the applicable Placement Notice is delivered, there shall not have been any material change, on a consolidated basis, in the authorized capital stock of the Company and
its Subsidiaries, or any Material Adverse Effect, or any development that may reasonably be expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the rating assigned to any of the Company’s securities by any rating
organization or a public announcement by any rating organization that it has under surveillance or review its rating of any of the Company’s securities, the effect of which, in the reasonable judgment of Canaccord (without relieving the Company
of any obligation or liability it may otherwise have), is so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner contemplated in the Prospectus.

  

	 	(e)	 Certificate. Canaccord shall have received the certificate required to be delivered pursuant to
Section 7(o) on or before the date on which delivery of such certificate is required pursuant to Section 7(o). 

  

	 	(f)	 Legal Opinions. Canaccord shall have received the opinions of counsel to the Company required to be
delivered pursuant Section 7(p) on or before the date on which such delivery of such opinions are required pursuant to Section 7(p). In addition, Canaccord shall have received the opinion of Goodwin Procter LLP, counsel to
Canaccord, on such dates and with respect to such matters as Canaccord may reasonably request. 

  

	 	(g)	 Comfort Letters. Canaccord shall have received the Comfort Letters required to be delivered pursuant
Section 7(q) on or before the date on which such delivery of such letters is required pursuant to Section 7(q). 

  

	 	(h)	 Approval for Listing; No Suspension. The Placement Shares shall have either been (i) approved for
listing, subject to notice of issuance, on the Principal Trading Market, or (ii) the Company shall have filed an application for listing of the Placement Shares on the Principal Trading Market at or prior to the issuance of the Placement
Notice. Trading in the Common Stock shall not have been suspended on the Principal Trading Market. 

  

	 	(i)	 Other Materials. On each date on which the Company is required to deliver a certificate pursuant to
Section 7(o), the Company shall have furnished to Canaccord such appropriate further information, certificates, opinions and documents as Canaccord may reasonably request. All such opinions, certificates, letters and other documents will
be in compliance with the provisions hereof. The Company will furnish Canaccord with such conformed copies of such opinions, certificates, letters and other documents as Canaccord shall reasonably request. 

 

	 	(j)	 Securities Act Filings Made. All filings with the Commission required by Rule 424 under the Securities
Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424. 

 

	 	(k)	 No Termination Event. There shall not have occurred any event that would permit Canaccord to terminate
this Agreement pursuant to Section 12(a). 

 10. Indemnification and Contribution. 

 

	 	(a)	 Company Indemnification. The Company will indemnify and hold harmless Canaccord and each person, if any,
who controls Canaccord against any losses, claims, damages or liabilities, joint or several, to which Canaccord or controlling person may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, the Prospectus, the Disclosure Package, or any Issuer Free Writing Prospectus
or any “issuer information” filed or required to be filed pursuant to Rule 

	 	
433(d) under the Securities Act, or any amendment or supplement to the Registration Statement, the Prospectus or the Disclosure Package, or in any application or other document executed by or on
behalf of the Company or based on written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Placement Shares under the securities laws thereof or filed with the Commission, or arise out of or are
based upon the omission or alleged omission to state in the Registration Statement, the Prospectus, the Disclosure Package, or any Issuer Free Writing Prospectus or any “issuer information” filed or required to be filed pursuant to Rule
433(d) under the Securities Act, or any amendment or supplement to the Registration Statement, the Prospectus, or the Disclosure Package or in any application or other document executed by or on behalf of the Company or based on written information
furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Placement Shares under the securities laws thereof or filed with the Commission a material fact required to be stated in it or necessary to make the
statements in it not misleading, and will reimburse Canaccord for any actual, reasonable and documented legal expenses of counsel for Canaccord and one set of local counsel in each applicable jurisdiction for Canaccord, and for other actual,
reasonable and documented expenses incurred by Canaccord in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that the Company shall not be liable in any such case to the extent
that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the Prospectus or the Disclosure Package, or any such
amendment or supplement thereto, in reliance upon and in conformity with written information furnished to the Company by and through Canaccord expressly for use therein. 

 

	 	(b)	 Canaccord Indemnification. Canaccord will indemnify and hold harmless the Company against any losses,
claims, damages or liabilities to which the Company may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement
or alleged untrue statement of a material fact contained in the Registration Statement (or any amendments thereto), the Prospectus (or any amendment or supplement thereto), the Disclosure Package or any Issuer Free Writing Prospectus, or arise out
of or are based upon the omission or alleged omission to state therein a material fact, in the case of the Registration Statement or any amendment thereto, required to be stated therein or necessary to make the statements therein not misleading and,
in the case of the Prospectus or any supplement thereto, the Disclosure Package or the Issuer Free Writing Prospectus, necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, in each case to
the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the Registration Statement (or any amendments thereto), the Prospectus (or any amendment or supplement thereto),
the Disclosure Package, or any Issuer Free Writing Prospectus, in reliance upon and in conformity with written information furnished to the Company by and through Canaccord expressly for use therein; and will reimburse the Company for any actual,
reasonable and documented legal or other expenses incurred by the Company in connection with investigating or defending any such action or claim as such expenses are incurred. 

 

	 	(c)	 Procedure. Promptly after receipt by an indemnified party under subsection (a) or (b) above of
notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection, promptly notify such indemnifying party in writing of the institution of such
proceeding and such indemnifying party shall assume the defense of such proceeding, including the employment of counsel reasonably satisfactory to such indemnified party and payment of all actual, reasonable and documented fees and expenses;
provided, however, that the failure to so notify such indemnifying party shall not relieve such indemnifying party from any liability which such indemnifying party may have to any indemnified party or otherwise. The indemnified party or parties
shall have the right to employ its or their own counsel in any such case, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless the employment of such counsel

	 	
shall have been authorized in writing by the indemnifying party in connection with the defense of such proceeding or the indemnifying party shall not have, within a reasonable period of time in
light of the circumstances, employed counsel to defend such proceeding or such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them which are different from, additional to or in conflict
with those available to such indemnifying party (in which case such indemnifying party shall not have the right to direct the defense of such proceeding on behalf of the indemnified party or parties), in any of which events the actual, reasonable
and documented fees and expenses of such counsel shall be borne by such indemnifying party and paid as incurred (it being understood, however, that such indemnifying party shall not be liable to the expenses of more than one separate counsel (in
addition to any local counsel) in any one proceeding or series of related proceedings in the same jurisdiction representing the indemnified parties who are parties to such proceeding). No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim
and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. No indemnifying party shall be liable for any settlement of any action or claim affected without
its written consent, which consent shall not be unreasonably withheld. 

  

	 	(d)	 Contribution. If the indemnification provided for in this Section 10 is unavailable to or
insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall
contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by the
Company on the one hand and Canaccord on the other from the offering of the Placement Shares. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law or if the indemnified party failed to give
the notice required under subsection (c) above, then each indemnifying party shall contribute to such amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits but also the
relative fault of the Company on the one hand and Canaccord on the other in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and Canaccord on the other shall be deemed to be in the same proportion as the total net proceeds from the offering (before deducting expenses) received by the
Company, bear to the total underwriting discounts, commissions and other fees received by Canaccord. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company on the one hand or Canaccord on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Company and Canaccord agree that it would not be just and equitable if contributions pursuant to this subsection (d) were determined by pro rata allocation or by any other method of allocation which does
not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above
in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this
subsection (d), Canaccord shall not be required to contribute any amount in excess of the amount by which the total price at which the Placement Shares distributed to the public by it were offered to the public exceeds the amount of any damages
which Canaccord has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities
Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

	 	(e)	 Obligations. The obligations of the Company under this Section 10 shall be in addition to
any liability which the Company may otherwise have and shall extend, upon the same terms and conditions, to each person, if any, who controls Canaccord within the meaning of the Securities Act; and the obligations of Canaccord under this
Section 10 shall be in addition to any liability which Canaccord may otherwise have and shall extend, upon the same terms and conditions, to each officer and director of the Company and to each person, if any, who controls the Company
within the meaning of the Securities Act. 

 11. Representations and Agreements to Survive Delivery. All
representations and warranties of the Company herein or in certificates delivered pursuant hereto shall remain operative and in full force and effect regardless of (i) any investigation made by or on behalf of Canaccord, any controlling
persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement. 

12. Termination. 
  

	 	(a)	 Canaccord shall have the right to terminate this Agreement at any time by giving notice as hereinafter
specified if (i) any Material Adverse Effect has occurred, or any development that is reasonably expected to cause a Material Adverse Effect has occurred or any other event has occurred which, in the sole judgment of Canaccord, may materially
impair Canaccord’s ability to proceed with the offering to sell the Shares, (ii) the Company shall have failed, refused or been unable, at or prior to any Settlement Date, to perform any agreement on its part to be performed hereunder,
(iii) any other condition of Canaccord’s obligations hereunder is not fulfilled, or (iv) any suspension or limitation of trading in the shares of Common Stock of the Company on the Principal Trading Market shall have occurred. Any
such termination shall be without liability of any party to any other party except that the provisions of Section 7(h) (Expenses), Section 10 (Indemnification), Section 11 (Survival of Representations),
Section 12(f) (Termination), Section 17 (Applicable Law; Consent to Jurisdiction) and Section 18 (Waiver of Jury Trial) hereof shall remain in full force and effect notwithstanding such termination. If Canaccord
elects to terminate this Agreement as provided in this Section 12(a), Canaccord shall provide the required notice as specified in Section 13 (Notices). 

 

	 	(b)	 The Company shall have the right to terminate this Agreement in its sole discretion at any time by giving five
(5) days’ notice as hereinafter specified. Any such termination shall be without liability of any party to any other party except that the provisions of Section 7(h), Section 10, Section 11,
Section 12(f), Section 17 and Section 18 hereof shall remain in full force and effect notwithstanding such termination. 

  

	 	(c)	 In addition to, and without limiting Canaccord’s rights under Section 12(a), Canaccord shall
have the right to terminate this Agreement in its sole discretion at any time after the date of this Agreement by giving five (5) days’ notice as hereinafter specified. Any such termination shall be without liability of any party to any
other party except that the provisions of Section 7(h), Section 10, Section 11, Section 12(f), Section 17 and Section 18 hereof shall remain in full force and effect
notwithstanding such termination. 

  

	 	(d)	 This Agreement shall remain in full force and effect unless terminated pursuant to Sections 12(a),
12(b) or 12(c) above or otherwise by mutual agreement of the parties; provided that any such termination by mutual agreement shall in all cases be deemed to provide that Section 7(h), Section 10,
Section 11, Section 12(f), Section 17 and Section 18 shall remain in full force and effect. 

	 	(e)	 Any termination of this Agreement shall be effective on the date specified in such notice of termination;
provided that such termination shall not be effective until the close of business on the date of receipt of such notice by Canaccord or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of
Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement. 

  

	 	(f)	 In the event that the Company terminates this Agreement, as permitted under Section 12(b), the
Company shall be under no continuing obligation to utilize the services of Canaccord in connection with any sale of securities of the Company or to pay any compensation to Canaccord other than compensation with respect to sales of Placement Shares
subscribed on or before the termination date and the Company shall be free to engage other placement agents and underwriters from and after the termination date with no continuing obligation to Canaccord. 

13. Notices. All notices or other communications required or permitted to be given by any party to any other party pursuant to the
terms of this Agreement shall be in writing and if sent to Canaccord, shall be delivered to: 
 Canaccord Genuity LLC 

99 High Street, Suite 1200 

Boston, Massachusetts 02110 

Attention: ECM, General Counsel 

With a copy to: 
 Goodwin
Procter LLP 
 The New York Times Building 

620 Eighth Avenue 
 New York, New
York 10018 
 Attention: Thomas S. Levato, Esq. 

or if sent to the Company, shall be delivered to: 

Inseego Corp. 
 12600 Deerfield
Parkway, Suite 100 
 Alpharetta, Georgia 30004 

Attention: General Counsel 
 With
a copy to: 
 Paul Hastings LLP 

4747 Executive Drive, 12th Floor 

San Diego, California 92121 

Attention: Teri O’Brien, Esq. 

Each party to this Agreement may change such address for notices by sending to the other party to this Agreement written notice of a new
address for such purpose. Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., eastern time, on a Business Day
or, if such day is not a Business Day, on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier, (iii) on the 

 Business Day actually received if deposited in the U.S. mail (certified or registered mail,
return receipt requested, postage prepaid), and (iv) if sent by email, on the Business Day on which receipt is confirmed by the individual to whom the notice is sent, other than via auto-reply. For purposes of this Agreement, “Business
Day” shall mean any day on which the Principal Trading Market and commercial banks in the city of New York are open for business. 

14. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the Company and Canaccord and their
respective successors and the affiliates, controlling persons, officers and directors referred to in Section 10 hereof. References to any of either of the parties contained in this Agreement shall be deemed to include the successors and
permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party, provided, however, that Canaccord may
assign its rights and obligations hereunder to an affiliate of Canaccord without obtaining the Company’s consent. 
 15. Adjustments
for Stock Splits. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any stock split, stock dividend or similar event effected with respect to the Shares. 

16. Entire Agreement; Amendment; Severability. This Agreement (including all schedules and exhibits attached hereto and placement
notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this
Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and Canaccord. In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 

17. Applicable Law; Consent to Jurisdiction. This Agreement shall be governed by, and construed in accordance with, the internal laws of
the State of New York without regard to the principles of conflicts of laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan, for the
adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the
jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents
to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such
service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. 

18. Waiver of Jury Trial. The Company and Canaccord hereby irrevocably waive any right either may have to a trial by jury in respect of
any claim based upon or arising out of this agreement or any transaction contemplated hereby. 
 19. Absence of Fiduciary Duties. The
parties acknowledge that they are sophisticated in business and financial matters and that each of them is solely responsible for making its own independent investigation and analysis of the transactions contemplated by this Agreement. They further
acknowledge that Canaccord has not been engaged by the Company to provide, and has not provided, financial advisory services in connection with the terms of the offering and sale of the Shares nor has Canaccord assumed at any time a fiduciary
relationship to the Company in connection with such offering and sale. The parties also acknowledge that the provisions of this Agreement fairly allocate the risks of the transactions contemplated hereby among them in light of their respective

 
knowledge of the Company and their respective abilities to investigate its affairs and business in order to assure that full and adequate disclosure has been made in the Registration Statement
and the Prospectus (and any amendments and supplements thereto). The Company hereby waives, to the fullest extent permitted by law, any claims it may have against Canaccord for breach of fiduciary duty or alleged breach of fiduciary duty and agrees
Canaccord shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, employees or
creditors of Company. 
 20. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or email transmission. 

 If the foregoing accurately reflects your understanding and agreement with respect to the
matters described herein please indicate your agreement by countersigning this Agreement in the space provided below. 
  

			
	Very truly yours,
	
	INSEEGO CORP.
		
	By:	 	 /s/ Craig Foster

	Name:	 	Craig Foster
	Title:	 	Chief Financial Officer
	
	ACCEPTED as of the date first-above written:
	
	CANACCORD GENUITY LLC
		
	By:	 	 /s/ Jennifer Pardi

	Name:	 	Jennifer Pardi
	Title:	 	Managing Director

 [Signature page to Equity Distribution Agreement] 

 SCHEDULE 1  

The Authorized Representatives of the Company are as follows: 
  

							
	 Name and Office / Title
	  	 E-mail Address
	  	 Telephone Numbers
	  	Fax Number
	 Dan Mondor /
 Chief Executive Officer
	  	*****	  	 Office: *****
 Cell: *****
	  	N/A
	 Craig Foster/
 Chief Financial Officer
	  	*****	  	 Office: *****
 Cell: *****
	  	N/A
	 Kurt Scheuerman /
 General Counsel
	  	*****	  	 Office: *****
 Cell: *****
	  	N/A

 The Authorized Representatives of Canaccord are as follows: 

 

							
	 Name and Office / Title
	  	 E-mail Address
	  	 Telephone Numbers
	  	Fax Number
	 Jennifer Pardi /
 Head of U.S. Equity Capital
Markets
	  	 *****
 AND

*****
	  	 Office: *****
 Cell: *****
	  	N/A

 EXHIBIT A  

OFFICER’S CERTIFICATE  

I, [name of executive officer], the [title of executive officer] of Inseego Corp. (“Company”), a
Delaware corporation, do hereby certify in such capacity and on behalf of the Company pursuant to Section 7(o) of the Equity Distribution Agreement dated January 25, 2021 (the “Distribution Agreement”) between the Company and
Canaccord Genuity LLC, to the best of my knowledge that: 
  

	 	(i)	 The representations and warranties of the Company in Section 6 of the Distribution Agreement (A) to
the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Effect, are true and correct on and as of the date hereof with the same force and effect as if
expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent such representations and warranties are
not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for
those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and 

  

	 	(ii)	 The Company has complied with all agreements and satisfied all conditions on its part to be performed or
satisfied pursuant to the Distribution Agreement at or prior to the date hereof. 

  

							
	Date: ______________________	 		 	By: 	 	  

		 		 	Name:	 	
		 		 	Title:Exhibit
10.1

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (the “Agreement”) is entered into by and between Odyssey Group International Inc. (the
“Company”) a Nevada Corporation and Joseph Michael Redmond (the “Executive”) whose address
is 55 W. Delaware Pl. Unit 607 Chicago, IL 60610 effective as of January 1, 2021.

 

WHEREAS,
the Company desires to continue employing the Executive as its Chief Executive Officer and the Executive desires to continue serving
in such capacity on behalf of the Company.

 

WHEREAS,
the Company and the Executive desire to enter into this Agreement to set forth the terms and conditions of the employment relationship
between the Company and the Executive;

 

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

 

1.       Employment.

 

(a)
       Term. Executive’s Term of employment (the “Term”) under
this Agreement shall be three (3) years, commencing on January 1, 2021 (the “Effective Date”), and shall continue
for a period through and including January 1, 2024 (the “Initial Term”), provided that on the third (3rd)
anniversary of the Effective Date and each subsequent one (1) year anniversary of the Effective Date, the Term of the Executive’s
employment hereunder will be automatically extended for an additional period of one (1) year (each a “Subsequent Term”)
unless either the Executive or the Company has given written notice to the other that such automatic extension will not occur
(a “Non-Renewal Notice”), which notice was given not less than one hundred twenty (120) days prior to the relevant
anniversary of the Effective Date. The Initial Term and any Subsequent Term are referred to herein as the “Term.”
If the Company gives a Non-Renewal Notice then it will be considered a termination without Cause per Section 6 of this Agreement.

 

(b)       Duties.
During the Term, the Executive shall serve as the Chief Executive Officer of the Company with duties, responsibilities and
authority commensurate therewith and shall report to the Board of Directors of the Company (the “Board”). The
Executive shall perform all duties and accept all responsibilities incident to such position as may be reasonably assigned to
the Executive by the Board. The Executive represents to the Company that he is not subject to or a party to any other employment
agreement, non-competition covenant, or other agreement that would be breached by, or prohibit the Executive from executing, this
Agreement and performing fully his duties and responsibilities under this Agreement.

 

(c)       Exclusive
Services. Subject to the permissions and restrictions specified in Section 14 below, Executive agrees to devote his energies
and skill to the discharge of the duties and responsibilities attributable to his position, and to this end will devote his full
business time and attention to the business and affairs of the Company and its affiliated entities. The foregoing shall not be
construed as preventing the Executive from (1) serving on civic, trade association, industry, educational, philanthropic, charitable
or non-profit boards or committees, or, on corporate boards for businesses that are not in competition with the Company, and (2)
managing personal investments, so long as such activities do not conflict with the Company’s published code of conduct and
employment policies.

 

(d)       Principal
Place of Employment. The Executive understands and agrees that his Principal Place of Employment will be in the Executive’s
residence and that he will be required to travel for business in the course of performing his duties for the Company. The Company
understands and agrees that the Executive plans to retain his principal residence in Chicago, Illinois but may change residency
at any time.

 

 

 

 

    	 	1	 

     

    

 

2.       Compensation.

 

(a)       Base
Salary and Accrued compensation. During the Employment Term, the Company shall pay the Executive a minimum annual base salary
of $300,000 (“Base Salary”) payable in equal installments at such payment intervals as are the usual custom
of the Company, but not less often than monthly. Base salary will be $360,000 when the Company has raised a cumulative of $5,000,000
in funding. Thereafter the Base Salary will be reviewed and may be adjusted upward, but not downward, no less frequently than
annually. Executive has accrued $183,846.00 in unpaid salary from December 2017 through the Effective Date. Executive, at his
sole discretion, may direct the Company to pay the accrued salary at any time. Alternatively Executive can have the accrued salary
convert to Company stock at the then current stock price. The Company will deduct from each such installment any amounts required
to be deducted or withheld under applicable law or under any employee benefit plan in which the Executive participates.

 

(b)       Annual
Bonus. The Executive shall be eligible to receive a bonus for each calendar year during
the Term, of between fifty percent (50%) and One hundred fifty percent (150%) of Base Salary, commencing with the 2021
calendar year, based on the attainment of individual and corporate performance goals and targets established by mutual agreement
between the Board and the Executive prior to January 31st of each calendar year (“Annual Bonus”);
and paid no later than forty-five (45) days after the calendar year end.. The Annual Bonus will be attached as exhibit A.

 

(c)       Equity
Incentive. Executive will be granted Restricted Stock Units (RSU’s) in the amount of three million (3,000,000) RSU’s
(or stock options at the Executive’s choosing),vesting equally over 36 months.

 

In
the event of a Change of Control (as defined in this Section 2(c)) of the Company while you continue to be employed by the Company,
any RSU’s or stock options will become fully vested and exercisable. For purposes of this Agreement, a “Change
of Control” means that any of the following events has occurred:

 

(i)       Any
person or entity (as such term is used in Section 13(d) of the Securities Exchange Act of 1934 (the “Exchange Act”)),
other than the Company, any employee benefit plan of the Company or any entity organized, appointed or established by the Company
for or pursuant to the terms of any such plan, together with all “affiliates” and “associates” (as such
terms are defined in Rule 12b-2 under the Exchange Act) becomes the beneficial owner or owners (as defined in Rule 13d-3 and 13d-5
promulgated under the Exchange Act), directly or indirectly (the “Control Group”), of more than 50% of the
outstanding equity securities of the Company, or otherwise becomes entitled, directly or indirectly, to vote more than 50% of
the voting power entitled to be cast at elections for directors (“Voting Power”) of the Company;

 

(ii)       A
consolidation or merger (in one transaction or a series of related transactions) of the Company pursuant to which the holders
of the Company’s equity securities immediately prior to such transaction or series of related transactions would not be
the holders, directly or indirectly, immediately after such transaction or series of related transactions of more than 50% of
the Voting Power of the entity surviving such transaction or series of related transactions;

 

(iii)      The
sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of
the assets of the Company; or

 

(iv)      The
liquidation or dissolution of the Company or the Company ceasing to do business.

 

 

 

 

    	 	2	 

     

    

 

3.       Benefit
Plans. During the Employment Term, and as otherwise provided herein, Executive shall be entitled to participate in any and
all employee welfare and health benefit plans (including, but not limited to, life insurance, health, dental, and disability plans)
and other employee benefit plans, including, but not limited to, qualified pension plans, established by the Company from time-to-time
for the benefit of all executives of the Company. Executive shall be required to comply with the conditions attendant to coverage
by such plans and shall comply with and be entitled to benefits only in accordance with the terms and conditions of such plans
as they may be amended from time-to-time. Nothing contained in this Agreement shall be construed as requiring the Company to establish
or continue any particular benefit plan in discharge of its obligations under this Agreement or preclude the Company or any affiliate
of the Company from terminating or amending any employee benefit plan or program from time-to-time after the Effective Date.

 

4.       Vacation.
During the Term, the Executive shall be entitled to five (5) weeks of paid vacation each year and holiday and sick leave at
levels commensurate with those provided to other senior executive officers of the Company, in accordance with the Company’s
vacation, holiday and other pay for time not worked policies.

 

5.       Expenses.
The Company shall pay or reimburse the Executive for all reasonable, ordinary, and necessary business expenses incurred by
the Executive in the performance of his responsibilities and the promotion of the Company’s businesses, including, without
limitation, air travel and lodging, automobile and related expenses, cellular phone charges, and travel expenses of the Executive’s
spouse when accompanying him on business-related trips. The Executive shall submit to the Company periodic statements of all expenses
so incurred. Subject to such reasonable accounting procedures as the Company may adopt generally from time-to-time for executives,
the Company shall reimburse the Executive the full amount of any such expenses advanced by him in the ordinary course of business.
The Company shall reimburse the Executive for travel to/from the Principal Place of Employment including
food and lodging, together with reasonable dues and related expenses for industry associations and groups, publications,
required professional training and similar activities. All such reimbursement of expenses shall be paid within fifteen
(15) days of submitting receipts for such expenses.

 

6.       Termination
without Cause: Resignation for Good Reason. The Company may terminate the Executive’s employment at any time without
Cause. In addition, the Executive may initiate a termination of employment by resigning for Good Reason. Upon termination by the
Company without Cause or resignation by the Executive for Good Reason, the Executive shall be entitled to receive, in lieu of
any payments under any severance plan or program for employees or executives, the following:

 

(a)       For the greater of the time remaining in the Term and the 24-month period following the Executive’s termination date
(the “Severance Period”), the Company will pay the Executive an amount equal to the sum of (x) the Executive’s
annual Base Salary payable over the Severance Period in equal installments in accordance with the Company’s regular payroll
practices, plus (y) eighty (80) percent of the maximum amount of the Executive’s Annual Bonus only for the calendar year
in which termination occurs, which shall be paid at the same time as other executive bonuses are paid but no later than as required
by Code § 409A.

 

(b)       Any unvested portion of RSU’s or Option granted under Section 2(c) or any other time during Executive’s employment,
will vest immediately.

 

(c)       The
Company will pay any other amounts earned, accrued and owing but not yet paid under Section 2 above and any benefits accrued and
due under any applicable benefit plans and programs of the Company, regardless of whether the Executive executes or revokes the
Release. The Company shall continue to pay for Executive’s health and dental coverage, if applicable, for the shorter of
the Severance Period or the maximum period permissible under COBRA.

 

(d)       The Company will assign all right, title and ownership to any life insurance policies maintained on the life of Executive
to Executive for no additional consideration, other than the Executive’s agreement to continue making premium payments on
such policies if the Executive desires to keep such policies in full force and effect.

 

 

 

 

    	 	3	 

     

    

 

7.       Termination
with Cause. The Company may terminate the Executive’s employment at any time for Cause (as defined below) upon ninety
days written notice to the Executive and an opportunity to cure such Cause within sixty days of the written notice. If Executive
is unable to cure the Cause then all payments under this Agreement shall cease, except for any amounts earned, accrued and owing
but not yet paid under Section 2 above and any benefits accrued and due under any applicable benefit plans and programs of the
Company.

 

8.       Voluntary
Resignation without Good Reason. The Executive may voluntarily terminate employment without Good Reason for any reason upon
30 days prior written notice to the Company. In such event, after the Effective Date of such termination, no payments shall be
due under this Agreement, except that the Executive shall be entitled to any amounts earned, accrued and owing but not yet paid
under Section 2 above, any benefits accrued and due under any applicable benefit plans and programs of the Company, and any unvested
portion of the Option granted under Section 2(c) will vest immediately, or any lapsing repurchase right on shares of common stock
acquired upon the exercise of the Option shall lapse.

 

9.       Disability.
If, during the Term, Executive is or becomes Disabled, the Company may, upon at least ten (10) days’ prior written notice
given at any time after Executive is determined to be Disabled, notify Executive of its intention to terminate this Agreement
as of the date set forth in the notice. In case of such termination, Executive shall be entitled to receive salary, benefits,
and reimbursable expenses owing to Executive through the date of termination. The Company shall have no further obligation or
liability to Executive; provided, however, that notwithstanding the foregoing provisions of this Section 9, if Company has in
place a long-term disability plan that covers Executive, then the Executive shall be eligible to receive such long-term disability
benefits under the Company’s long-term disability plan to which he is otherwise entitled under the plan. For purposes hereof,
“Disability” shall mean either (a) the Executive is deemed Disabled for purposes of any group or individual
long-term disability policy paid for by the Company and in effect at the time of such determination, or (b) if, in the good faith
judgment of the Board, as certified by a physician reasonably satisfactory to the Executive or his legal representative and the
Board (provided, however, that in the event the Board and such individual (or his or her legal representative) cannot
agree on the selection of a physician, the Executive’s selection shall prevail), the Executive is substantially unable to
perform the Executive’s duties under this Agreement for a period of four (4) or more consecutive months, or for a total
period of six (6) months in any twelve-consecutive month period, by reason of a physical or mental illness or injury.

 

10.       Death.

 

(a)       If the Executive dies during the Term, the Executive’s employment shall terminate on the date of death and the Company shall
pay to the Executive’s executor, legal representative, administrator or designated beneficiary, as applicable, any amounts
earned, accrued and owing but not yet paid under Section 2 above and any benefits accrued and due under any applicable benefit
plans and programs of the Company, including with respect to the Option or shares acquired upon exercise thereof.

 

(b)       Executive acknowledges that his services are of substantial economic importance to the Company and that his death may cause result
in substantial economic loss to the Company. To mitigate against that loss, Executive acknowledges and agrees that Company at
its expense may obtain one or more policies of life insurance on Executive’s life, and that the Company, or such other persons
as may be designated by Company, may be named in Company’s sole and absolute discretion as the beneficiary(ies) of the proceeds
payable under the insurance policy upon Executive’s death or as otherwise payable under the policy. Executive for himself,
his executors, administrators, heirs, and assigns waives any claim or entitlement for any benefit or payment under any policy
of insurance obtained by the Company, except as expressly stated to the contrary in a written instrument signed by a duly authorized
officer of the Company other than Executive.

 

11.       Resignation
of Positions. Effective as of the date of any termination of employment, the Executive will resign all Company-related positions,
including as an officer of the Company and its parents, subsidiaries and affiliates. If the Executive continues owning shares
of capital stock of the Company in excess of ten percent (10%) of the total issued and outstanding shares of the Company following
termination of employment, the Executive may remain as a member of the Company’s Board of Directors.

 

 

 

 

    	 	4	 

     

    

 

12.       Definitions.
For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)       “Cause”
shall mean:

 

(1)
       Executive
pleads “guilty” to or is convicted of any act that is defined as a felony under federal or state law, in connection
with the performance of Executive’s obligations to the Company and materially and adversely affects Executive’s ability
to perform such obligations;

 

(2)
        The commission and conviction by Executive of an act of fraud or embezzlement against the Company, as determined by a court of
competent jurisdiction;

 

(b)       “Good Reason” shall mean the occurrence of one or more of the following without the Executive’s consent:

 

(1)
       the material breach by the Company of this Agreement;

 

(2)
       the reduction by the Company of the Base Salary or benefits in effect on the Effective
Date or as the same may be increased from time-to-time, without the Executive’s consent;

 

(3)
       any diminution of the Executive’s title or responsibilities, including but not
limited to a demotion (other than temporarily while physically or mentally incapacitated or as required by applicable Law);

 

(4)
       a change in the lines of reporting such that Executive no longer reports to the Board;

 

(5)
       the assignment to Executive of duties not commensurate or consistent with Executive’s
position as Chief Executive Officer of the Company without Executive’s prior written consent which such consent may be revoked
at any time in the sole and absolute discretion of the Executive;

 

(6)
       any failure by the Company to reappoint the Executive to a position held by the Executive
on the date of a Change in Control (as defined in Section 2(c)), except as a result of the termination of the Executive’s
employment by the Company for Cause or Disability, the death of the Executive, or the termination of the Executive’s employment
by the Executive other than for Good Reason;

 

(7)
       elimination by the Company of the Option or other equity-based compensation plan, without
providing substantially equivalent substitutes therefor;

 

(8)
       the taking of any action by the Company (including the elimination of benefit plans
without providing substitutes therefor or the reduction of the Executive’s benefits thereunder) that would substantially
diminish the aggregate value of the Executive’s other fringe benefits;

 

(9)
       the Company provides written notice to the Executive that the Executive will be required
to move his principal residence to remain in his position as Chief Executive Officer; and

 

 

 

 

    	 	5	 

     

    

 

(10)
       any failure by the Company to require any successor entity (whether direct or indirect, by purchase, merger, consolidation
or otherwise) to all or substantially all of the business and/or assets of the Company to assume expressly and agree to perform
this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession
had taken place.

 

The
Executive must provide written notice of termination for Good Reason to the Company within 30 days after the event constituting
Good Reason. The Company shall have a period of 30 days in which it may correct the act or failure to act that constitutes the
grounds for Good Reason as set forth in the Executive’s notice of termination. If the Company does not correct the act or
failure to act, the Executive’s employment will terminate for Good Reason on the first business day following the Company’s
30-day cure period.

 

(c)       “Release”
shall mean a separation agreement and mutual general release, in a form provided by the Company and agreed to by Executive, of
any and all claims against the Company and Executive, all related parties with respect to all matters arising out of the Executive’s
employment by the Company, and the termination thereof (other than claims for any entitlements under the terms of this Agreement
or under any plans or programs of the Company under which the Executive has accrued and is due a benefit).

 

13.       Section
409A.

 

(a)       This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”)
and its corresponding regulations, or an exemption, and payments may only be made under this Agreement upon an event and in a
manner permitted by Code § 409A of the Code, to the extent applicable. Severance benefits under the Agreement are intended
to be exempt from Code § 409A under the “short-term deferral” exception, to the maximum extent applicable, and
then under the “separation pay” exception, to the maximum extent applicable. Notwithstanding anything in this Agreement
to the contrary, if required by Code § 409A, if the Executive is considered a “specified employee” for purposes
of Code § 409A and if payment of any amounts under this Agreement is required to be delayed for a period of six months after
separation from service pursuant to Code § 409A, payment of such amounts shall be delayed as required by Code § 409A,
and the accumulated amounts shall be paid in a lump-sum payment within ten days after the end of the six-month period. If the
Executive dies during the postponement period prior to the payment of benefits, the amounts withheld on account of Code §
409A shall be paid to the personal representative of the Executive’s estate within 60 days after the date of the Executive’s
death.

 

(b)       All payments to be made upon a termination of employment under this Agreement may only be made upon a “separation
from service” under Code § 409A. For purposes of Code § 409A, each payment hereunder shall be treated as a separate
payment and the right to a series of installment payments under this Agreement shall be treated as a right to a series of separate
payments. In no event may the Executive, directly or indirectly, designate the calendar year of a payment. Notwithstanding any
provision of this Agreement to the contrary, in no event shall the timing of the Executive’s execution of the Release, directly
or indirectly, result in the Executive designating the calendar year of payment of any amounts of deferred compensation subject
to Code § 409A, and if a payment that is subject to execution of the Release could be made in more than one taxable year,
payment shall be made in the later taxable year.

 

(c)       All reimbursements and in-kind benefits provided under the Agreement shall be made or provided in accordance with the requirements
of Code § 409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the
period of time specified in this Agreement, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided,
during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other
calendar year, (iii) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following
the year in which the expense is incurred, and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation
or exchange for another benefit.

 

14.       Restrictive
Covenants. Executive acknowledges that his position with the Company is special, unique, and intellectual in character, that
in his position he will have special access to and knowledge about Company plans, strategies, intellectual property including
trade secrets and know-how, and that his position in the Company will place him in a position of confidence and trust with employees
and clients of the Company. For this reason, Executive agrees that the provisions set forth below in this Section 14 are fair
and reasonable to the Company, its shareholders, and the Executive.

 

 

 

 

    	 	6	 

     

    

 

(a)       Non-Competition. During the Term and during the Severance Period (the “Restriction Period”),
the Executive hereby agrees that the Executive will not, without the Board’s express written consent, (directly or indirectly),
act as a director or officer of a Competitive Business where Executive would be required to use, contribute or disclose Executive’s
knowledge of the business operations, plans or strategies of the Company to such Competitive Business. The term “Competitive
Business” means a business engaged in the United States in designing, developing, producing, marketing, licensing and/or
selling a device utilizing the issued patent relating to the CardioMap device owned by the Company or a device that utilizes the
patents owned by Company for a choking rescue device. For purposes of this Agreement, the term “Affiliate”
means any subsidiary of the Company or other entity under common control with the Company.

 

(b)       Non-Solicitation of Company Personnel. During the Term and during the Restriction Period, the Executive hereby agrees
that the Executive will not, either directly or through others, hire or attempt to hire any employee, consultant or independent
contractor of the Company or its Affiliates, other than an Officer or Director of the Company, or solicit or attempt to solicit
any such person to change or terminate his relationship with the Company or an Affiliate or otherwise to become an employee, consultant
or independent contractor to, for or of any other person or business entity, unless more than two (2) months shall have elapsed
between the last day of such person’s employment or service with the Company or Affiliate and the first date of such solicitation
or hiring or attempt to solicit or hire. The provisions of this subsection (b) shall not apply to general employment advertisements,
job fairs and other general public solicitations seeking to hire personnel.

 

(c)       Non-Solicitation of Customers. During the Term and during the Restriction Period, the Executive hereby agrees that
the Executive will not, either directly or through others, solicit, divert or appropriate, or attempt to solicit, divert or appropriate
any customer or prospective customer of a Competitive Business, for which the Company has prepared written proposals for the purpose
of providing such customer or prospective customer with services or products directly competitive with those offered by the Company
or an Affiliate during the Term.

 

(d)       Proprietary Information. Executive acknowledges that Executive will have access to certain proprietary and confidential
information of the Company and its customers and vendors (collectively “Proprietary Information”). At all times, during
the Term of this Agreement, the Executive will hold in strictest confidence and will not disclose, use, lecture upon or publish
any of the Proprietary Information (defined below) of the Company or an Affiliate, except as such disclosure, use or publication
may be required in connection with the Executive’s work for the Company in accordance with this Agreement or as described
in Section 14(e) below, or unless the Company expressly authorizes such disclosure in writing. “Proprietary Information”
shall mean any and all confidential and/or proprietary knowledge, data or information of the Company and its Affiliates and shareholders,
including but not limited to written information relating to financial matters, investments, budgets, business plans, sales projections,
cost, pricing and pricing models, marketing and advertising plans, creative campaigns and themes, personnel matters, business
contacts, products and contemplated new products and services, processes, know-how, designs, methods, improvements, discoveries,
inventions, ideas, data, programs, and other works of authorship that are in writing and marked “Confidential”.

 

(e)       Reports to Government Entities. Nothing in this Agreement shall prohibit or restrict the Executive from initiating
communications directly with, responding to any inquiries from, providing testimony before, providing confidential information
to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly
with a self-regulatory authority or a government agency or entity, including the U.S. Equal Employment Opportunity Commission,
the Federal Drug Administration, the Department of Labor, the National Labor Relations Board, the Department of Justice, the Securities
and Exchange Commission, the United States Congress, and any agency Inspector General (collectively, the “Regulators”),
or from making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation.
The Executive does not need the prior authorization of the Company to engage in such communications, respond to such inquiries,
provide confidential information or documents to the Regulators, or make any such reports or disclosures to the Regulators. The
Executive is not required to notify the Company that the Executive has engaged in such communications with the Regulators. If
the Executive is required by law to disclose Proprietary Information, other than to Regulators as described above, the Executive
shall give prompt written notice to the Company so as to permit the Company to protect its interests in confidentiality to the
extent possible.

 

 

 

 

    	 	7	 

     

    

 

(f)       Invention Assignment. The Executive agrees that all inventions, innovations, improvements, developments, methods,
designs, analyses, reports, and all similar or related information which relates to the Company’s or its Affiliates’
actual or anticipated business, research and development or existing or future products or services and which are conceived, developed,
created, or made by Executive, alone or with others, whether or not patentable, registerable, or copyrightable, while employed
by the Company (“Work Product”) belong to the Company. The Executive will promptly disclose such Work Product
to the Board and perform all actions reasonably requested by the Board (whether during or after the Term) to establish and confirm
such ownership (including, without limitation, assignments, consents, powers of attorneys, applications for and procuring patents,
trademarks, service marks, or copyrights, and other instruments as the Company, in its sole discretion, may request). Executive
agrees to give the Company all assistance it may reasonably require, including the giving of testimony in any suit, action, investigation,
or other proceeding, to obtain, maintain, and protect the Company’s rights in the Work Product. Executive agrees as a condition
of employment to sign and be bound by the Company’s standard Inventions Assignment Agreement. The parties agree that the
inventions listed in Exhibit B to this Agreement, which is incorporated in and made a substantive part of this Agreement, are
excluded from the application of this subsection (f).

 

(g)       Return of Company Property. All records, files, lists, including computer generated lists, drawings, documents,
equipment, and similar items relating to the Company’s business that Executive shall prepare or receive from the Company
shall remain the Company’s property. Upon termination of the Executive’s employment with the Company for any
reason, voluntarily or involuntarily, and at any earlier time the Company requests, the Executive will deliver to the person designated
by the Company all originals and copies of all documents and property of the Company or an Affiliate that is in the Executive’s
possession, under the Executive’s control or to which the Executive may have access. The Executive shall keep one copy of
all items related to the Company’s business listed above in this paragraph.

 

(h)       The foregoing provisions of subsections (a), (b), (c), and (d) shall not apply to the company or companies listed in Exhibit
C, as may amended from time-to-time by signed written agreement of the Board and Executive, which exhibit is incorporated in and
made a substantive part of this Agreement.

 

(i)       Notwithstanding anything in this Agreement to the contrary, and in addition to any other lawful rights and remedies available
to the Company, if the Executive breaches any of the Executive’s obligations under Section 14, the Company shall be obligated
to provide only the compensation and accrued benefits required by any Company benefit plans, policies or practices then applicable
to the Executive in accordance with the terms thereof. In such event, the Company may require that the Executive repay all amounts
theretofore paid to him pursuant to Section 6 hereof; and in such case, the Executive shall promptly repay such amounts on the
terms determined by the Company up to a maximum of fifty thousand dollars ($50,000.00).

 

(j)       The provisions of this Section 14 and Section 15 below shall survive any termination of the Executive’s employment
or the termination or expiration of this Agreement for a period of six months.

 

15.       Legal
and Equitable Remedies.

 

(a)       Because
the Executive’s services are personal and unique and the Executive has had and will continue to have access to and has become
and will continue to become acquainted with the proprietary information of the Company and its Affiliates, and because any breach
by the Executive of any of the restrictive covenants contained in Section 14 would result in irreparable injury and damage for
which money damages would not provide an adequate remedy, the Executive agrees that Company shall have the right to enforce Section
14 and any of its provisions by injunction, specific performance or other equitable relief, without bond and without prejudice
to any other rights and remedies that the Company may have for a breach, or threatened breach, of the restrictive covenants set
forth in Section 14. The Executive expressly consents to enforcement of Section 14 by means of temporary or permanent injunction
and other appropriate equitable relief in any competent court or arbitration tribunal, and agrees that in any action in which
the Company seeks injunction, specific performance or other equitable relief, the Executive will not assert or contend that any
of the provisions of Section 14 are unreasonable or otherwise unenforceable.

 

 

 

 

    	 	8	 

     

    

 

(b)       Any and all disputes arising under or relating to the interpretation or application of this Agreement or concerning Executive’s
employment with the Company or termination of employment shall be subject to final and binding arbitration in the Chicago, Illinois
under the then existing rules of the American Arbitration Association relating to employment matters. Judgment upon the award
rendered may be entered in any court of competent jurisdiction. The cost of arbitration and Executive’s legal expenses shall
be borne by the Company. Nothing contained in this subsection (b) shall limit the right of the Company to enforce by court injunction
or other equitable relief the Executive’s obligations under Section 14. In any court proceeding arising out of this Agreement,
the parties (1) irrevocably consent to the exclusive jurisdiction of the United States District Court for Northern District of
Illinois or if such court does not have jurisdiction or will not accept jurisdiction, to any court of general jurisdiction in
Illinois and (2) waive any objection to the laying of venue of any such proceeding in any such court.

 

(c)       Indemnification. In addition to any rights Executive may have under the Company's charter or by-laws, the Company
agrees to indemnify Executive and hold Executive harmless, both during the Term and after the Term or Termination for any reason,
of this Agreement, against all costs, expenses (including, without limitation, fines, taxes and attorneys' and accountants’
fees) and liabilities (collectively, "Losses") reasonably incurred by Executive in connection with any claim, action,
proceeding or investigation brought against or involving Executive with respect to, arising out of or in any way relating to Executive's
employment with the Company or Executive's service as a director of the Company. Executive shall promptly notify the Company of
any claim, action, proceeding or investigation under this paragraph and the Company shall be entitled to participate in the defense
of any such claim, action, proceeding or investigation and, if it so chooses, to assume the defense with counsel selected by the
Company; provided that Executive shall have the right to employ counsel to represent him (at the Company's expense) if Company
counsel would have a "conflict of interest" in representing both the Company and Executive. The Company shall not settle
or compromise any claim, action, proceeding or investigation without Executive's consent, which consent shall not be unreasonably
withheld; provided, however, that such consent shall not be required if the settlement entails only the payment of money and the
Company fully indemnifies Executive in connection therewith. The Company further agrees to advance any and all expenses (including,
without limitation, the fees and expenses of counsel) reasonably incurred by the Executive in connection with any such claim,
action, proceeding or investigation. The Company, as soon as reasonably possible, will maintains a policy of directors' and officers'
liability insurance covering Executive and, notwithstanding the expiration or earlier termination of this Agreement, the Company
shall maintain a directors' and officers' liability insurance policy covering Executive for a period of time following such expiration
or earlier termination equal to the statute of limitations for any claim that may be asserted against Executive for which coverage
is available under such directors' and officers' liability insurance policy. All provisions of this paragraph shall survive the
termination of this Agreement for any reason.

 

16.       Survival.
The respective rights and obligations of the parties under this Agreement, including, but not limited to, Sections 14 and
15, shall survive any termination of the Executive’s employment or termination or expiration of this Agreement to the extent
necessary to the intended preservation of such rights and obligations.

 

17.       No
Mitigation or Set Off. In no event shall the Executive be obligated to seek other employment or take any other action by way
of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and such amounts shall not
be reduced, regardless of whether the Executive obtains other employment. During the pendency of any claim between the Company
and Executive, the Company’s obligation to make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder with respect to any set-off, counterclaim, recoupment, defense or other right which the Company may have
against the Executive or others, may be determined on an interlocutory basis by a competent court or arbitration tribunal.

 

18.       Notices.
All notices and other communications required or permitted under this Agreement or necessary or convenient in connection herewith
shall be in writing and shall be deemed to have been given when hand delivered or mailed by registered or certified mail, as follows
(provided that notice of change of address shall be deemed given only when received):

 

If
to the Company, to:

 

Odyssey
Group International

2372
Morse Ave.

Irvine
CA 92614

Attention:
Chair of the Board of Directors

 

 

 

    	 	9	 

     

    

 

If
to the Executive, to the most recent address on file with the Company or to such other names or addresses as the Company or the
Executive, as the case may be, shall designate by notice to each other person entitled to receive notices in the manner specified
in this Section.

 

19.       Withholding.
All payments under this Agreement shall be made subject to applicable tax withholding, and the Company shall withhold from
any payments under this Agreement all federal, state and local taxes as the Company is required to withhold pursuant to any law
or governmental rule or regulation.

 

20.       Remedies
Cumulative; No Waiver. No remedy conferred upon a party by this Agreement is intended to be exclusive of any other remedy,
and each and every such remedy shall be cumulative and shall be in addition to any other remedy given under this Agreement or
now or hereafter existing at law or in equity. No delay or omission by a party in exercising any right, remedy or power under
this Agreement or existing at law or in equity shall be construed as a waiver thereof, and any such right, remedy or power may
be exercised by such party from time-to-time and as often as may be deemed expedient or necessary by such party in its sole discretion.

 

21.       Assignment.
All of the terms and provisions of this Agreement shall be binding upon and inure to the benefit of and be enforceable by
the respective heirs, executors, administrators, legal representatives, successors and assigns of the parties hereto, except that
the duties and responsibilities of the Executive under this Agreement are of a personal nature and shall not be assignable or
delegable in whole or in part by the Executive. Successors of the Company shall include, without limitation, any company or companies
acquiring, directly or indirectly, all or substantially all of the assets of the Company, whether by merger, consolidation, purchase,
lease, or otherwise, and such successor shall thereafter be deemed “the Company” for the purpose of this Section 21.

 

22.       Entire
Agreement.

 

(a)       This Agreement, including all referenced addendums and exhibits, embodies the entire agreement of the parties with respect
to its subject matter and merges with and supersedes all prior discussions, agreements, commitments, or understandings of every
kind and nature relating to Executive’s employment, whether oral or written, between Executive and the Company. Neither
party shall be bound by any term or condition other than as is expressly set forth in this Agreement.

 

(b)       Executive represents and agrees that he fully understands his right to discuss all aspects of this Agreement with his private
attorney, that to the extent he desired Executive availed himself of this right, that Executive has carefully read and fully understands
all of the provisions of the Agreement, that Executive is competent to execute this Agreement, that his decision to execute this
Agreement has not been obtained by any duress, that Executive freely and voluntarily enters into this Agreement, and that Executive
has read this document in its entirety and fully understands the meaning, intent, and consequences of this Agreement.

 

23.       Amendment.
This Agreement may be changed, modified or amended only by a written document signed by the Executive and the Board.

 

24.       Severability.
If any provision of this Agreement or application thereof to anyone or under any circumstances is adjudicated to be invalid
or unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect any other provision or application
of this Agreement which can be given effect without the invalid or unenforceable provision or application and shall not invalidate
or render unenforceable such provision or application in any other jurisdiction. If any provision is held void, invalid or unenforceable
with respect to particular circumstances, it shall nevertheless remain in full force and effect in all other circumstances.

 

25.       Governing
Law. This Agreement and any claims arising out of relating to this Agreement, whether in contract or tort, statutory or common
law, shall be governed exclusively by, and construed in accordance with the laws of the State of Nevada without regard to principles
of conflicts of laws.

 

 

 

 

    	 	10	 

     

    

 

26.       Forum
Selection and Consent to Jurisdiction. ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT,
SHALL BE BROUGHT AND MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEVADA OR IN THE UNITED STATES DISTRICT COURT FOR THE
DISTRICT OF NEVADA; THE PARTIES HEREBY EXPRESSLY AND IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH COURT REFERRED TO ABOVE
AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

27.       Waiver
of Jury Trial. EACH PARTY HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY
RIGHTS UNDER THIS AGREEMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED
IN CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREES
THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY.

 

28.       Service
of Process: Each party hereto hereby consents to service of process in any action between any of the Parties hereto arising
in whole or in part under or in connection with this Agreement, any document related to, or the negotiation, terms or performance
hereof or thereof, (a) in any manner permitted by Nevada law or (b) by overnight delivery by a nationally recognized courier service
at the respective address specified in this Agreement, and waives and agrees not to assert (by way of motion, as a defense or
otherwise) in any such Action any claim that service of process made in accordance with clause (a) or (b) does not constitute
good and valid service of process.

 

29.       Counterparts;
Electronic Transmission. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all
of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail
or other means of electronic transmission (including an electronically-signed PDF) shall be deemed to have the same legal effect
as delivery of an original signed copy of this Agreement.

 

 

[Signatures
on next page]

 

 

 

 

 

 

 

 

 

 

 

    	 	11	 

     

    

 

Read
and Agreed to:

 

	By: /s/ Joseph Michael Redmond	Date: January 21, 2021

Joseph
Michael Redmond

 

 

 

Odyssey
Group International, Inc.

 

	By: /s/ Jeff Conroy 	Date: January 21, 2021

Jeff Conroy

Compensation Committee
Chair

 

EXHIBIT
A

 

CEO
Bonus for 2021

 

Raise
funds in the amount of $2.5M-$3.5M = 50% of base salary

 

Raise
funds in the amount over $3.5 to $6.0M = 100% of base salary

 

Raise
funds in the amount of over $6.0M = 150% of base salary

 

Raise
funds in the amount of below $2.5M =0% of base salary

 

 

 

EXHIBIT B

 

Inventions
Assignment Agreement

 

 

 

EXHIBIT
C

 

Companies

 

 

 

 

 

    	 	12

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