Document:

Exhibit 10.6

 

Page
9

Employment
 Agreement

CathrynJ.
Kennedy

 

 

Party
seeking
to be
indemnified
 in
connection
 with
any
proceeding,
 demand
 for
payment
 or litigation.
 This 
indemnification
 shall
be binding
on the
heirs,
personal
representatives,
successors
 and
assigns
of the
Parties
and
shall
continue
indefinitely.

 

17.
 Attorney's
 Fees. 
Should
 any
litigation
 be
commenced
 by any
third-party
 against
the executive
 the
Company
 will
shall
be obligated
to pay
all legal
fees
incurred
by the
Executive
for her
defense.

 

18.
 Jurisdiction
 and
Service
 of Process.
 The
Company
 and Executive
 further
 agree
that
service
 of process
 on
them 
may be
made
by personal
 service
 or by
certified
or registered
mai I,
return receipt
requested
in accordance
with the
notice 
provision
set forth
in Section
9. Service
of process
 shall
be deemed
effective
upon receipt.

 

19.  Modification  and Waiver.  This Agreement  may be amended,  modified,  superseded  or canceled,  and the terms  or covenants  hereof  may be
waived, only by
a written instrument executed  by both of
the Parties hereto,  or in the
case of a waiver, by the Party waiving compliance.  The failure of either Party at any time or times to require performance
of any provision hereof shall in no manner
affect the right of such Party at a later
time to
enforce the same. No
waiver by either
Party of the breach  of any term or covenant  contained
in this
Agreement,  whether by conduct or otherwise, in anyone or more instances,  shall be deemed  to be, or construed  as, a further
or continuing
waiver
of any
such breach
or a waiver  of the breach
of any
other term or covenant contained
in this Agreement.

 

20.
 Entire
 Agreement.
 This
Agreement
 constitutes
 the
entire
Agreement
 of
the Parties
with respect
to the
subject
 matter
 hereof
 and
supersedes
any and
all agreements,
 understandings,
statements,
or representations
 either
oral
or in writing.

 

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

 

 

	COMPANY:	 	EXECUTIVE:	 
	 	 	 	 
	GROWBOX SCIENCES	 	CATHRYN J. KENNEDY	 
	 	 	 	 
	/s/ Craig Ellins	 	/s/ Cathryn
J.
Kennedy	 
	Signature 	 	Signature	 
	 	 	 	 
	CEO	 	CFO	 
	Title	 	Tile	 

    	 

    	 

    

 

Page 8

Employment Agreement

CathrynJ. Kennedy

 

12. 
Waivers.  The waiver
by either party
hereto of a
breach or violation
of any term
or provision of this Agreement shall not operate
nor be construed as a waiver of
any subsequent breach or violation.

 

13. 
Damages.  Nothing contained
herein shall be construed to
prevent the Company
or the Executive from
seeking and recovering
from the other
damages sustained by either or both
of them as a result of its or her breach of any term or provision
of this Agreement.

 

14. 
No Third-Partv Beneficiarv. 
Nothing expressed or
implied in this
Agreement is intended or
shall be construed
to confer upon
or give any person
(other than the
Parties hereto, and, in the case
of Executive, her heirs,
personal representative(s) and/or legal representative) any rights or remedies under
or by reason of this
Agreement.

 

15. 
Conflicts with Certain
Existing Arrangements.  The
Company agrees that
if shall not hereafter
acquire a "Conflicting
Organization" or otherwise
expand its present business activities such
that Executive could reasonably expected
to be deemed
in breach or violation of
such non competition covenants,
and it shall indemnify and hold harmless the Executive from any and all damages
that Executive may hereafter suffer or incur by
reason of any such Company
acquisition or expansion of business
after the date hereof.

 

16.  Indemnification.  The Company fully releases, acquits and forever discharges Executive
of and from any and all known and unknown claims for damages, costs,
expenses, liabilities, causes of action,
claims for relief and suits
for damages arising out of
any state or federal action
concerning the validity and legality of the
Company or its Board's day-to-day operations
in the dispensing of medical marijuana and
the further research and development of medical marijuana
and its varied uses.  The Parties further agree
to indemnity one another from any and all claims
or actions of third parties
arising out of or
related to the matters set forth
in the Recitals that are due to negligence or misconduct
of a Party asserted against the
other Party unless such other Party is also guilty
of negligence or misconduct. This indemnification
provision shall apply to any actions or omissions
(regardless of the date of any such
action or omission), to
the extent permitted by law, against all
expense, liability and loss reasonably
incurred or suffered by the

 

    	 

    	 

    

 

Page
7

Employment
 Agreement

CathrynJ.
Kennedy

 

	If to the Company:		Growblox Sciences,
Inc.

6450
Cameron St. Suite 110A

Las Vegas,
NV 89118

 

	If to the Executive:		Cathryn Kennedy

1123
Scenic Crest Dr.

 Henderson,
NV 89052

 

	With a Copy to:		Gerald F. Neal,
Esq.

1125 Shadow
Lane

Las Vegas,
NV 89102

 

or
to such other
addresses as either
party hereto may
from time to
time give notice
of to the other in the aforesaid manner.

 

10.  Successors.

 

10.1 
This Agreement is
personal to the
Executive and without
the prior written consent of
the Company shall
not be assignable
by the Executive
otherwise than by will or the
laws of descent and distribution. This Agreement
shall inure to the benefit
of and be enforceable by
the Executive's legal representatives.

 

10.2 
This Agreement shall inure
to the benefit
of and be
binding upon the
Company and its successors
and assigns.

 

10.3 
The Company will
use its best
efforts to require
any successor (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 expressly assume 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.  As
used in this Agreement, "Company" shall mean the Company as
hereinbefore defined and any successor
to its business and/or assets which
assumes and agrees to perform this
Agreement by operation of
law or otherwise.

 

11.  Severabilitv.  The invalidity of anyone or more of the words phrases, sentences, clauses
or sections contained in this Agreement
shall not affect the enforceability of the remaining portions of this
Agreement or any part thereof, all of which are inserted
conditionally on their being valid in law, and, in
the event that anyone or more of the words,
phrases, sentences, clauses or sections contained in this Agreement
shall be declared invalid, this Agreement shall be construed as if
such invalid word or words,
phrase or phrases, sentence
or sentences, clause or clauses, or section or sections had not been inserted. If
such validity is caused by length of time
or size of area or both,
the otherwise invalid provision will
be considered to be reduced to a period
or area which would cure such invalidity.

 

    	 

    	 

    

 

Page
6

Employment
 Agreement

CathrynJ.
Kennedy

 

confidence and as a fiduciary and Executive shall remain a fiduciary to the Company with respect
to all of such information. For purposes of this Agreement, "Confidential Information"
means all material information about the Company's business disclosed to the
Executive or known by the
Executive as a consequence of or
through his employment by the
Company (including information conceived, originated, discovered
or developed by the
Executive) after the date hereof, and not generally known. This
restrictive covenant does not apply to any
positions performed outside the limited scope of
the medical marijuana business.

 

6.2 
Nonsolicitation of Employees. 
While employed by
the Company and
for a period of
six (6) months
thereafter, Executive shall not
directly or indirectly, for herself or
for any other person, firm
corporation, partnership, association or other entity,
attempt to employ or enter into
any contractual arrangement with any employee
or former employee of
the Company, unless such employee or former
employee has not been employed by
the Company for a period in excess of
six (6) months.

 

6.3 
Injunction.  It is
recognized and hereby
acknowledged by the
Parties hereto that a breach
by the Executive
of any of the covenants contained
in Sections 6.1, 6.2 or 6.3 of this Agreement
will cause irreparable harm and damage to
the Company, the monetary amount of which may
be virtually impossible to ascertain. As
a result, the Executive
recognizes and hereby acknowledges
that the Company shall be entitled
to an injunction from any
court of competent jurisdiction enjoining and
restraining any violation of any or all of the
covenants contained in this Section
6 by the Executive or any of
her affiliates, associates, partners or
agents, either directly or indirectly, and that such right to injunction shall
be cumulative and in addition to whatever
other remedies the Company may possess.

 

7.  Other
Matters,

 

7.1 
Election of Executive
as Director. Contemporaneously
herewith, the Board is appointing
Executive to fill
the position of
a Director.  For
so long as the Executive continues to
serve as the Company's Chief Financial Officer,
the Company shall cause the nomination
of the Executive as a Director at
each stockholder meeting at which
election of directors is considered and
otherwise us its best efforts to cause the
election of the Executive as a
Director of the Company.

 

8. 
Governing Law.  This
Agreement shall be governed
by and construed in
accordance with the
laws of the
State of Nevada.

 

9. 
Notices.  Any notice
required or permitted
to be given
under this Agreement
shall be in writing
and shall be
deemed to have been given
when delivered by hand or when deposited
in the United States mail, by registered
or certified mail, return receipt requested, postage prepaid, addressed
as follows:

 

    	 

    	 

    

 

Page
5

Employment
 Agreement

CathrynJ.
Kennedy

 

5.  Change
in Control.  For
purposes of this
Agreement, a "Change
in Control" shall mean:

 

(a) 
The acquisition, other
than by or from
the Company, at
any time after
the date hereof, by any
person, entity or group within the
meaning of Section 13(d)(3) or 14(d)(2)of the Securities Exchange
Act of 1934 (the "Exchange Act") of
beneficial ownership, within the meaning of Rule 13d-3promulgated under
the Exchange Act, of 50% or
more of either the
then outstanding shares of common stock
or the combined voting power of
the Company's then outstanding voting securities
entitled to vote generally in the
election of directors;

 

(b)  All
or any of the individuals who, as of the
date hereof, constitute the Board
( as of the date hereof the
"incumbent board") cease for
any reason to constitute at
least a majority of the Board, provided
that any person becoming a director subsequent to the date
hereof whose election or nomination
for election by the Company's shareholders, was approved by a vote by at
least a majority of the directors then
comprising the incumbent board (other than an election or nomination
of an individual whose initial
assumption of office is in connection
with an actual or threatened election contest relating to the election of
the directors of the
Company, as such terms are used
in Rule 14a-l1 of Regulation 14Apromulgated
under the Exchange Act) shall be,
for purposes of this Agreement, considered as
though such person were
a member of the incumbent board;
or

 

(c)
Approved by the
stockholders of the
Company of (1),
a reorganization, merger or
consolidation with respect to
which persons who
were the shareholders of
the Company immediately prior
to such reorganization, merger or
consolidation do not, immediately
thereafter, own more than 50% of the combined
voting power entitled to vote generally in
the election of directors of the reorganized,
merged or consolidated Company's then outstanding voting securities, (2)
a liquidation or dissolution of
the Company, or (3) the
sale of all or substantially all
of the assets ofthe Company, unless
the approved reorganization, merger,
consolidation, liquidation, dissolution or sale is
subsequently abandoned.

 

(d) 
The approval by
the Board of the
sale, distribution and/or other
transfer or action (and/or
series of sales,
distributions and/or other
transfers or actions from
time to time or over
a period of time), then results
in the Company's ownership of
less than 50% of the Company's
assets.

 

6.  Restrictive
Covenants.

 

6.1  Nondisclosure.  During her employment and for six (6) months thereafter,
Executive shall not divulge, communicate, use to the detriment of the Company
or for the benefit
of any other person or persons,
or misuse in any way, any
Confidential Information (as hereinafter defined)
pertaining to the business of the Company.
Any confidential information now or hereafter acquired by
the Executive with respect to the business of the Company
shall be deemed a valuable, special and unique asset of the Company
that is received by the Executive in months of Executive's base
salary.

    	 

    	 

    

 

Page
4

Employment
 Agreement

CathrynJ.
Kennedy

 

4.4  Termination Without Cause.  At any time the Company shall have the right to
terminate Executive's employment
hereunder by written notice to
Executive; provided, however, that the Company
shall pay to Executive in a lump
sum within thirty (30) days an amount
equal to six (6) months salary calculated at the current
pay rate.  The Company shall be deemed to
have terminated the Executive's employment pursuant to this
Section if such employment is terminated by the Company without cause or by
the Executive voluntarily for
"good reason". For purposes of this Agreement, "good reason" means
the following:

 

(a) 
The assignment to
the Executive of
any duties significantly 
inconsistent in any respect
with the Executive's
position (including status,
offices, titles and
reporting requirements), authority, duties or responsibilities as
contemplated by Section 1.2 of this Agreement, or
any other action by the
Company which results in
a significant diminution in
such position, authority, duties or responsibilities, excluding
for this purpose an isolated, insubstantial
and inadvertent action not
taken in bad faith and which is remedied by the
Company promptly after receipt of notice thereof
given by the Executive;

 

(b)  Any
failure by the
Company to comply
with any of
the provisions of
Section

2,
Section 3, Section
7 or Section
17 of this
Agreement, other than
an isolated, insubstantial
and inadvertent failure not occurring
in bad faith and which is remedied by the
Company promptly after receipt of notice thereof
given by the Executive;

 

(c) 
Any purported termination by
the Company of
the Executive's employment otherwise
than as expressly
permitted by this
Agreement;

 

(d)  Any
failure by the
Company to comply
with and satisfy
Section 10 of
this Agreement; or

 

(e) 
Any termination by
the Executive for
any reason during
the three-month period following
the effective date
of any "change in control".

 

Inaddition
to other rights the Executive has pursuant to this Section 4.4, if the Executive
is terminated by the Company pursuant to this
Section 4.4, or if the Executive
terminates her own employment for "good reason" pursuant to Section
4.4(e) with regard to "change in control", if on the date
of termination the Executive has
worked for the Company less than three
years from the date of this
Agreement, the Executive shall be entitled to receive
the shares of stock
she would have received under Section 2.2 if she
had been employed for a full three years from the date of this Agreement.

 

    	 

    	 

    

 

Page
3

Employment
 Agreement

CathrynJ.
Kennedy

 

and
benefits.  You will
be entitled to
whatever benefits may
be provided to
you in accordance with
the terms of
these plans and
benefits as amended
from time to
time.

 

3.4 
Mandatory Leave of
Absence.  In the
event Executive is
placed on leave
of absence, Executive shall
continue to be paid
her salary and
stock as described in 2.1 and 2.2
of this Agreement.

 

4.  Termination.

 

4.1 
Termination for Cause.
Notwithstanding anything contained
to the contrary
in this Agreement, this
Agreement may be
terminated by the
Company for Cause. 
As used in this Agreement, "Cause"
shall only mean an
act or acts of personal dishonesty
taken by the Executive and
intended to result in substantial personal
enrichment of the Executive
at the expense
of the Company. Repeated violation
by the Executive of the Executive's material obligations under
this Agreement which are demonstrably willful and
deliberate on the Executive's
part and which are not remedied
in a reasonable period of time after
receipt of written notice from the Company or the conviction
of the Executive for
any criminal act which
is a felony may be
cause for termination. For purpose of the preceding sentences, criminal acts
shall not include
any acts that violate any U.S.
Federal laws or state laws that are related
in any way to cannabis.  Upon a
valid determination by the Company's
Board of Directors of
any state that cause exists
under the preceding sentences, the
Company shall cause a special meeting
of the Board to be called
and held at a time mutually convenient to the
Board and Executive, but
in no event later than
ten (l0) business days after
Executive's receipt of adequate notice.
The Executive shall
have the right to appear before such special
meeting of the Board with
legal counsel of her choosing to refute
any determination of cause
specified in such notice and any
termination of Executive's employment by reason of
such cause. Determination shall not be in
effect until Executive is afforded such opportunity
to appear.  Any termination for cause
shall be made in writing to Executive.
 The notice shall
set forth in detail
all acts or omissions upon which the
Company is relying for suchtermination. Upon any
termination pursuant to this Section,
the Executive shall
be entitled to
be paid her base salary to the date of termination.

 

4.2 
Disability.  Notwithstanding anything
contained in this
Agreement to the
contrary, the Company, by
written notice to
the Executive, shall
at all times
have the right
to terminate this Agreement, and
the Executive's employment hereunder,
if the Executive shall, as the
result of mental or physical incapacity,
illness or disability, fails to
perform her duties and
responsibilities provided for herein for
a period of more than sixty (60) consecutive days
in any 12-monthperiod. Upon
any termination pursuant to this
Section, 4.2, the Executive shall be
entitled to be paid
her base salary to the
date of termination, plus six (6)
months of Executive's base salary.

 

4.3  Death.  In the event of the death of the Executive during the term of her
employment hereunder, the Company shall pay to the estate of the deceased
Executive an amount equal to the sum
of (1) any unpaid amounts of her
base salary to the date
of her death, plus six (6)
personal investments, so long as such activities
do not significantly interfere with the
performance of the Executive's
responsibilities as an employee of the
Company in accordance with this
Agreement.

    	 

    	 

    

 

Page
2

Employment
 Agreement

CathrynJ.
Kennedy

 

1.3 
Place of Performance. 
In connection with
her employment by
the Company, the Executive
shall be based
at the Company's principal executive
offices in Las Vegas, NV
except for travel reasonably necessary in
connection with the Company's business, or
as otherwise agreed by the parties.

 

2.  Compensation.

 

2.1 
Base Salary.  Commencing
on the effective
date of this
Agreement, the Executive shall
receive a base
salary of $8,500 for three (3)
months ending 02/18/15; $10,000 for the next three
(3) months to 05/15115; thereafter,
$13,333 until Executive's next annual raise
at 06/15/16. Executive's annual salary will
be raised on 06/15/16 to $170,000 per year and
on 06/15117 to $180,000 per year.

 

2.2  Restricted
Stock Grant. As compensation for entering into this Agreement, the
Company hereby grants to the Executive 100,000 shares of the common stock
of the Company that is currently
traded on the Over-the-Counter
Bulletin Board under the symbol, "GBLX". Certificates representing
100,000 shares of the stock shall
transfer to the Executive upon signing
of this Agreement. 100,000 shares of the
stock shall transfer to the Executive on the first
anniversary of the execution of this Agreement and 300,000 shares of stock shall
transfer to the Executive on the second anniversary of the execution of
this Agreement. The stock is
restricted as defined by the Rules and Regulations
promulgated under the Securities Act of
1933, as amended.

 

3.  Expenses.
Reimbursement and other
Benefits.

 

3.1 
Expense Reimbursement.  During
the term Executive's
employment hereunder, the Company
upon the submission
of reasonable supporting
documentation by the Executive, shall reimburse the Executive for
all reasonable expenses actually
paid or incurred by the Executive
in the course of and pursuant to
the business of the Company, including expenses
for travel and entertainment.

 

3.2 
Vacation.  During the
initial term of
one year, the
Executive shall be
entitled to paid vacation
in accordance with
the most favorable plans, policies, programs
and practices of the Company as in
effect at any time
hereafter with respect
to other key
executives of the Company provided, however,
that in no event shall Executive be entitled
to fewer than three weeks paid
vacation per year.

 

3.3 
Benefit Plans.  The
Company provides its executives
certain employee benefit
plans and fringe benefits. 
Company reserves the
right to amend,
modify or terminate any of
these plans

 

    	 

    	 

    

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement is
entered into on
this 18day
of November, 2014,
by and between GROWBLOX SCIENCES,
INC., a Delaware corporation,
(hereinafter "Company") and CATHRYN J.
KENNEDY, (hereinafter ''Executive''), all of whom
are collectively referred to herein as ''the
Parties" .

 

RECITALS

 

WHEREAS,
the Board of
Directors of the
Company, (hereinafter "Board"),
desires to assure
the Company of the Executive's
continued employment in
an executive capacity
and to compensate her therefore.

 

WHEREAS, the
Board has determined
that this Agreement
will enforce and
encourage the

Executive's continued
attention and dedication
to the Company.

 

WHEREAS, the
Executive is willing
to make her
services available to
the Company on
the terms and conditions
hereinafter set forth.

AGREEMENT

 

NOW THEREFORE,
in consideration of
the mutual premises
and mutual covenants
herein, the

Parties hereto
agree as follows:

 

1.  Employment.

 

1.1  Employment and Term. The Company hereby agrees to employ the Executive with
a start date of November
18, 2014.  The Executive was
promoted to Chief Financial Officer
on December 06, 2014, and in such capacity, Executive agrees to provide
services to the Corporation for the employment period beginning on November 18,
2014 and ending December 06, 2017, the termination
date, or such later date as may be agreed
to by the Parties within 120 days prior to the termination date.

 

1.2 
Duties of Executive. 
The Executive shall
serve as the Chief
Financial Officer of the
Company, subject to
the preceding sentence,
during the term
of employment, the Executive shall diligently perform all
services as may be reasonably assigned to her by the
Board and shall exercise such power and authority as may from time
to time be
delegated to her by the Board.
The Executive shall be
required to report solely to, and
shall be subject solely to the
supervision and direction of the Board and no other person or
group shall be
given authority to supervise or direct
Executive in the performance of her duties. Inaddition, the
Executive shall regularly consult with the
Board with respect to the
Company's business and affairs. The
Executive shall devote her working time
and attention as she deems appropriate to the
business and affairs of the Company, render such services
to the best
of her ability and use her reasonable best
efforts to promote the interests of the
Company. Itshall not be a violation of this Agreement forthe Executive to (A)
serve on corporate, civic
or charitable boards or committees, (B) deliver lectures, fulfill speaking
engagements orteach at educational institutions, and (C)  manageExhibit 10.18

 

Warrant Certificate No.  ___

 

NEITHER THE SECURITIES REPRESENTED BY THIS
CERTIFICATE NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND
ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF
COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
ACT OR APPLICABLE STATE SECURITIES LAWS.

 

	Effective Date:  June 22, 2015	Void After:  June 22, 2018

 

GROWBLOX SCIENCES, INC.

 

WARRANT TO PURCHASE COMMON STOCK

 

GROWBLOX SCIENCES,
INC., a Delaware corporation (the “Company”), for value received on June 22, 2015 (the “Effective Date”),
hereby issues to CRAIG ELLINS, an individual (“Ellins”) and/or his assignees, heirs, executors or successors-in-interest
(together with Ellins, the “Holder” or “Warrant Holder”) this Warrant (the “Warrant”)
to purchase, five million (5,000,000) shares (each such share as from time to time adjusted as hereinafter provided being a “Warrant
Share” and all such shares being the “Warrant Shares”) of the Company’s Common Stock (as defined
below), at the Exercise Price (as defined below), as adjusted from time to time as provided herein, on or before June 22, 2018
(the “Expiration Date”), all subject to the following terms and conditions. This Warrant has been issued in
connection with an amended and restated employment agreement dated the Effective Date between the Company and the Executive ( the
“Restated Employment Agreement”) and in connection with the Executive’s agreement to relinquish and forfeit
his right to receive as additional “compensation” up to 3,000,000 shares of Company Common in accordance with, and
subject to, the terms and conditions described in the amended employment agreement dated June 19, 2014 (the “Prior Agreement”)
which has been superseded in its entirety by the Restated Employment Agreement..

 

As used in this Warrant,
(i) “Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks in the
City of Las Vegas, Nevada, are authorized or required by law or executive order to close; (ii) “Common Stock”
means the common stock of the Company, par value $0.001 per share, including any securities issued or issuable with respect thereto
or into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock
combination, recapitalization, reclassification, reorganization or other similar event; (iii) “Exercise Price”
means forty-five cents ($0.45) per share of Common Stock, subject to adjustment as provided herein; (iv) “Trading Day”
means any day on which the Common Stock is traded (or available for trading) on its principal trading market; and (v) “Affiliate”
means any person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with, a person, as such terms are used and construed in Rule 144 promulgated under the Securities Act of 1933, as amended
(the “Securities Act”).

 

    	1

    	 

    

 

1.           DURATION
AND EXERCISE OF WARRANTS

 

(a)          Exercise
Period. The Holder may exercise this Warrant in whole or in part on any Business Day on or before 5:00 P.M., Eastern Time,
on the Expiration Date, at which time this Warrant shall become void and of no value.

 

(b)          Exercise
Procedures.

 

(i)          While
this Warrant remains outstanding and exercisable in accordance with Section 1(a), in addition to the manner set forth in Section
1(b)(ii) below, the Holder may exercise this Warrant in whole or in part at any time and from time to time by:

 

(A)         delivery
to the Company of a duly executed copy of the Notice of Exercise attached as Exhibit A;

 

(B)         surrender
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder; and

 

(C)         payment
of the then-applicable Exercise Price per share multiplied by the number of Warrant Shares being purchased upon exercise of the
Warrant (such amount, the “Aggregate Exercise Price”) made in the form of cash, or by certified check, bank
draft or money order payable in lawful money of the United States of America or in the form of a Cashless Exercise to the extent
permitted in Section 1(b)(ii) below.

 

(ii)         In
addition to the provisions of Section 1(b)(i) above, the Holder may, in his or its sole discretion, exercise all or any part of
the Warrant in a “cashless” or “net-issue” exercise (a “Cashless Exercise”)
by delivering to the Company (1) the Notice of Exercise and (2) the original Warrant, pursuant to which the Holder shall surrender
the right to receive upon exercise of this Warrant, a number of Warrant Shares having a value (as determined below) equal to the
Aggregate Exercise Price, in which case, the number of Warrant Shares to be issued to the Holder upon such exercise shall be calculated
using the following formula:

 

	X     	=	Y * (A - B)	 
	 	 	A	 

 

with:

 

X =       the
number of Warrant Shares to be issued to the Holder

 

Y =       the
number of Warrant Shares with respect to which the Warrant is being exercised

 

A =       the
fair value per share of Common Stock on the date of exercise of this Warrant

 

B =       the
then-current Exercise Price of the Warrant

 

    	2

    	 

    

 

Solely for the purposes
of this paragraph, “fair value” per share of Common Stock shall mean the average Closing Price (as defined below)
per share of Common Stock for the twenty (20) trading days immediately preceding the date on which the Notice of Exercise is deemed
to have been sent to the Company. “Closing Price” means, for any date, the price determined by the first of
the following clauses that applies: (a) if the Common Stock is then listed or quoted on the New York Stock Exchange, the American
Stock Exchange, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market or any other national securities
exchange, the closing price per share of the Common Stock for such date (or the nearest preceding date) on the primary eligible
market or exchange on which the Common Stock is then listed or quoted; (b) if prices for the Common Stock are then quoted on the
OTC Bulletin Board or any tier of OTC Markets Group, Inc., the closing bid price per share of the Common Stock for such date (or
the nearest preceding date) so quoted; or (c) if prices for the Common Stock are then reported in the “Pink Sheets”
published by the National Quotation Bureau Incorporated (or a similar organization or agency succeeding to its functions of reporting
prices), the most recent closing bid price per share of the Common Stock so reported. If the Common Stock is not publicly traded
as set forth above, the “fair value” per share of Common Stock shall be reasonably and in good faith determined
by the Board of Directors of the Company as of the date which the Notice of Exercise is deemed to have been sent to the Company.

 

For purposes of Rule
144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for such shares shall be deemed
to have commenced, on the date this Warrant was originally issued.

 

(iii)        Upon
the exercise of this Warrant in compliance with the provisions of this Section 1(b), and except as limited pursuant to the last
paragraph of Section 1(b)(ii), the Company shall promptly issue and cause to be delivered to the Holder a certificate for the Warrant
Shares purchased by the Holder. Each exercise of this Warrant shall be effective immediately prior to the close of business on
the date (the “Date of Exercise”) that the conditions set forth in Section 1(b) have been satisfied, as the
case may be. On or before the third Business Day following the date on which the Company has received each of the Notice of Exercise
and the Aggregate Exercise Price (or notice of a Cashless Exercise in accordance with Section 1(b)(ii)) (the “Exercise
Delivery Documents”), the Company shall transmit an acknowledgment of receipt of the Exercise Delivery Documents to the
Company’s transfer agent (the “Transfer Agent”). On or before the fifth Business Day following the date
on which the Company has received all of the Exercise Delivery Documents (the “Share Delivery Date”), the Company
shall (X) provided that the Warrant Shares have been registered or that the Warrant Shares are eligible for sale under Rule 144
without restriction and that the Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast
Automated Securities Transfer Program, upon the request of the Holder and to the extent applicable, Holder’s supplying the
Company with required Rule 144 documentation, credit such aggregate number of shares of Common Stock to which the Holder is entitled
pursuant to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit Withdrawal
Agent Commission system, or (Y) if the Warrant Shares have not been registered and are not eligible for sale under Rule 144 without
restriction or if Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch
by overnight courier to the address as specified in the Notice of Exercise, a certificate, registered in the Company’s share
register in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant
to such exercise. Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate purposes to have
become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date
of delivery of the certificates evidencing such Warrant Shares.

 

    	3

    	 

    

 

(c)          Partial
Exercise. This Warrant shall be exercisable, either in its entirety or, from time to time, for part only of the number of Warrant
Shares referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant to Section 1 and the number
of Warrant Shares represented by this Warrant submitted for exercise is greater than the actual number of Warrant Shares being
acquired upon such an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days
after any exercise and at its own expense, issue a new Warrant of like tenor representing the right to purchase the number of Warrant
Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which
this Warrant is exercised.

 

(d)          Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance
with Section 16.

 

		2.	ISSUANCE OF WARRANT SHARES

 

(a)          The
Company covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized,
fully paid and non-assessable, and (ii) free from all liens, charges and security interests, with the exception of claims arising
through the acts or omissions of any Holder and except as arising from applicable Federal and state securities laws.

 

(b)          The
Company shall register this Warrant upon records to be maintained by the Company for that purpose in the name of the record holder
of such Warrant from time to time. The Company shall deem and treat the registered Holder of this Warrant as the absolute owner
thereof for the purpose of any exercise thereof, any distribution to the Holder thereof and for all other purposes.

 

(c)          The
Company will not, by amendment of its certificate of incorporation, by-laws or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist
in the carrying out of all the provisions of this Warrant and in the taking of all action necessary or appropriate in order to
protect the rights of the Holder to exercise this Warrant, or against impairment of such rights.

 

		3.	ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT
SHARES

 

(a)          The
Exercise Price and the number of shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time
to time upon the occurrence of certain events described in this Section 3.

 

    	4

    	 

    

 

(i)          Subdivision
or Combination of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or
otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior
to such subdivision shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and conversely,
in case the outstanding shares of Common Stock of the Company shall be combined (whether by way of stock combination, reverse stock
split or otherwise) into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be
proportionately increased and the number of Warrant Shares shall be proportionately decreased. The Exercise Price and the Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in
this Section 3(a)(i).

 

(ii)         Dividends
in Stock, Property, Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares
of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to
receive, without payment therefor:

 

(A)         any
shares of stock or other securities that are at any time directly or indirectly convertible into or exchangeable for Common Stock,
or any rights or options to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution,
or

 

(B)         additional
stock or other securities or property (including cash) by way of spin-off, split-up, reclassification, combination of shares or
similar corporate rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of which shall
be covered by the terms of Section 3(a)(i) above),

 

then and in each such case, the Exercise
Price and the number of Warrant Shares to be obtained upon exercise of this Warrant shall be adjusted proportionately, and the
Holder hereof shall, upon the exercise of this Warrant, be entitled to receive, in addition to the number of shares of Common Stock
receivable thereupon, and without payment of any additional consideration therefor, the amount of stock and other securities and
property (including cash in the cases referred to above) that such Holder would hold on the date of such exercise had such Holder
been the holder of record of such Common Stock as of the date on which holders of Common Stock received or became entitled to receive
such shares or all other additional stock and other securities and property. The Exercise Price and the Warrant Shares, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3(a)(ii).

 

    	5

    	 

    

 

(iii)        Reorganization,
Reclassification, Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital
stock of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially
all of its assets or other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive
stock, securities, or other assets or property (an “Organic Change”), then, as a condition of such Organic Change,
lawful and adequate provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase
and receive (in lieu of the shares of the Common Stock of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented by this Warrant) such shares of stock, securities or other assets or property as may be issued
or payable with respect to or in exchange for a number of outstanding shares of such Common Stock equal to the number of shares
of such stock immediately theretofore purchasable and receivable assuming the full exercise of the rights represented by this Warrant.
In the event of any Organic Change, appropriate provision shall be made by the Company with respect to the rights and interests
of the Holder of this Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments
of the Exercise Price and of the number of shares purchasable and receivable upon the exercise of this Warrant and registration
rights) shall thereafter be applicable, in relation to any shares of stock, securities or assets thereafter deliverable upon the
exercise hereof. The Company will not effect any such consolidation, merger or sale unless, prior to the consummation thereof,
the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing
such assets shall assume by written instrument reasonably satisfactory in form and substance to the Holder executed and mailed
or delivered to the registered Holder hereof at the last address of such Holder appearing on the books of the Company, the obligation
to deliver to such Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such Holder
may be entitled to purchase. If there is an Organic Change, then the Company shall cause to be mailed to the Holder at its last
address as it shall appear on the books and records of the Company, at least 10 calendar days before the effective date of the
Organic Change, a notice stating the date on which such Organic Change is expected to become effective or close, and the date as
of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares for securities, cash,
or other property delivered upon such Organic Change; provided, that the failure to mail such notice or any defect therein or in
the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder is
entitled to exercise this Warrant during the 10-day period commencing on the date of such notice to the effective date of the event
triggering such notice. In any event, the successor corporation (if other than the Company) resulting from such consolidation or
merger or the corporation purchasing such assets shall be deemed to assume such obligation to deliver to such Holder such shares
of stock, securities or assets even in the absence of a written instrument assuming such obligation to the extent such assumption
occurs by operation of law.

 

(iv)        Adjustment
of Exercise Price upon Issuance of Additional Shares of Common Stock. In the event the Company shall at any time prior to the
Expiration Date issue Additional Shares of Common Stock, as defined below, without consideration or for a consideration per share
less than the Exercise Price in effect immediately prior to such issue, then the Exercise Price shall be reduced, concurrently
with such issue, to a price (calculated to the nearest cent) determined by multiplying such Exercise Price by a fraction, (A) the
numerator of which shall be (1) the number of shares of Common Stock outstanding immediately prior to such issue plus (2) the number
of shares of Common Stock which the aggregate consideration received or to be received by the Company for the total number of Additional
Shares of Common Stock so issued would purchase at such Exercise Price; and (B) the denominator of which shall be the number of
shares of Common Stock outstanding immediately prior to such issue plus the number of such Additional Shares of Common Stock so
issued; provided that, (i) for the purpose of this Section 3(a)(iv), all shares of Common Stock issuable upon conversion
or exchange of convertible securities outstanding immediately prior to such issue shall be deemed to be outstanding, and (ii) the
number of shares of Common Stock deemed issuable upon conversion or exchange of such outstanding convertible securities shall be
determined without giving effect to any adjustments to the conversion or exchange price or conversion or exchange rate of such
convertible securities resulting from the issuance of Additional Shares of Common Stock that is the subject of this calculation.
For purposes of this Warrant, “Additional Shares of Common Stock” shall mean all shares of Common Stock issued
by the Company after the Effective Date (including without limitation any shares of Common Stock issuable upon conversion or exchange
of any convertible securities or upon exercise of any option or warrant, on an as-converted basis), other than: (i) shares
of Common Stock issued or issuable upon conversion or exchange of any convertible securities or exercise of any options outstanding
on the Effective Date; (ii) shares of Common Stock issued or issuable upon exercise of the Warrants; (iii) shares of Common
Stock issued or issuable by reason of a dividend, stock split, split-up or other distribution on shares of Common Stock that is
covered by Sections 3(a)(i) through 3(a)(iii) above; (iv) shares of Common Stock issued in a registered public offering under the
Securities Act; (v) shares of Common Stock issued or issuable pursuant to the acquisition of another entity or business by the
Company by merger, purchase of substantially all of the assets or other reorganization or pursuant to a joint venture agreement,
but not including a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an
entity whose primary business is investing in securities; or (vi) securities issued to financial institutions, institutional investors
or lessors in connection with credit arrangements, equipment financings, lease arrangements or similar transactions, in each case
approved by a majority of disinterested directors of the Company. The provisions of this Section 3(b) shall not operate
to increase the Exercise Price.

 

    	6

    	 

    

 

Upon each adjustment
of the Exercise Price pursuant to the provisions of this Section 3(a)(iv), the number of Warrant Shares issuable upon exercise
of this Warrant shall be adjusted by multiplying a number equal to the Exercise Price in effect immediately prior to such adjustment
by the number of Warrant Shares issuable upon exercise of this Warrant immediately prior to such adjustment and dividing the product
so obtained by the adjusted Exercise Price.

 

(b)          Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant
a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment
is based. The Company shall promptly furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such
adjustments and readjustments; and (ii) the number of shares and the amount, if any, of other property which at the time would
be received upon the exercise of the Warrant.

 

4.          TRANSFERS
AND EXCHANGES OF WARRANT AND WARRANT SHARES

 

(a)          Registration
of Transfers and Exchanges. Subject to Section 4(c), upon the Holder’s surrender of this Warrant, with a duly executed
copy of the Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices or at such other
office or agency as the Company may specify in writing to the Holder, the Company shall register the transfer of all or any portion
of this Warrant. Upon such registration of transfer, the Company shall issue a new Warrant, in substantially the form of this Warrant,
evidencing the acquisition rights transferred to the transferee and a new Warrant, in similar form, evidencing the remaining acquisition
rights not transferred, to the Holder requesting the transfer.

 

(b)          Warrant
Exchangeable for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially
the form of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased
hereunder, each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of
Warrant Shares as shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding
such re-certification of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency
as the Company may specify in writing to the Holder.

 

    	7

    	 

    

 

(c)          Restrictions
on Transfers. This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an
exemption from such registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of
the Warrant may be effected without registration under the Securities Act, which opinion will be in form and from counsel reasonably
satisfactory to the Company.

 

(d)          Permitted
Transfers and Assignments. Notwithstanding any provision to the contrary in this Section 4, the Holder may transfer, with or
without consideration, this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates (as such
term is defined under Rule 144 of the Securities Act), and additionally, to each of the members of the Holder and each of the members
and/or equityholders of the members of the Holder, without obtaining the opinion from counsel that may be required by Section 4(c)(ii),
provided, that the Holder delivers to the Company and its counsel certification, documentation, and other assurances reasonably
required by the Company’s counsel to enable the Company’s counsel to render an opinion to the Company’s Transfer
Agent that such transfer does not violate applicable securities laws.

 

		5.	MUTILATED OR MISSING WARRANT CERTIFICATE

 

If this Warrant is
mutilated, lost, stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and
upon cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially
the form of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that, as a prerequisite
to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction as well as
an indemnity from the Holder of a lost, stolen or destroyed Warrant.

 

		6.	PAYMENT OF TAXES

 

The Company will pay
all transfer and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant Shares
(and replacement Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that the Company
shall not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates for
Warrant Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.

 

		7.	FRACTIONAL WARRANT SHARES

 

No fractional Warrant
Shares shall be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round
up the number of Warrant Shares issuable to nearest whole share.

 

    	8

    	 

    

 

		8.	NO STOCK RIGHTS AND LEGEND

 

Until this Warrant
is exercised, no holder of this Warrant, as such, shall be entitled to vote or be deemed the holder of any other securities of
the Company that may at any time be issuable on the exercise hereof, nor shall anything contained herein be construed to confer
upon the holder of this Warrant, as such, the rights of a stockholder of the Company or the right to vote for the election of directors
or upon any matter submitted to stockholders at any meeting thereof, or give or withhold consent to any corporate action or to
receive notice of meetings or other actions affecting stockholders (except as provided herein), or to receive dividends or subscription
rights or otherwise (except as provide herein).

 

Each certificate for
Warrant Shares initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES
LAWS.”

 

		9.	NOTICES

 

All notices, consents,
waivers, and other communications under this Warrant must be in writing and will be deemed given to a party when (a) delivered
to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b) sent by facsimile
or e-mail with confirmation of transmission by the transmitting equipment; (c) received or rejected by the addressee, if sent by
certified mail, return receipt requested, if to the registered Holder hereof; or (d) seven days after the placement of the notice
into the mails (first class postage prepaid), if to the Company or the Holder at the addresses set forth in the Restated Employment
(or to such other address, facsimile number, or e-mail address as the Holder or the Company as a party may designate by notice
the other party) with a copy to CKR Law LLP, 1330 Avenue of the Americas, 35th Floor, New York, New York 10019, Attention: Stephen
A. Weiss, Esq.

 

		10.	SEVERABILITY

 

If a court of competent
jurisdiction holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain in
full force and effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force
and effect to the extent not held invalid or unenforceable.

 

    	9

    	 

    

 

		11.	BINDING EFFECT

 

This Warrant shall
be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, the registered Holder or
Holders from time to time of this Warrant and the Warrant Shares.

 

		12.	SURVIVAL OF RIGHTS AND DUTIES

 

This Warrant shall
terminate and be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on
which this Warrant has been exercised in full.

 

		13.	GOVERNING LAW

 

This Warrant will be
governed by and construed under the laws of the State of Delaware without regard to conflicts of laws principles that would require
the application of any other law.

 

		14.	DISPUTE RESOLUTION

 

In the case of a dispute
as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within two Business Days of receipt of the Notice of Exercise
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination
or calculation of the Exercise Price or the Warrant Shares within three Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within two Business Days, submit via facsimile (a) the disputed
determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder
or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company
shall cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations
and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the case may
be, shall be binding upon all parties absent demonstrable error.

 

		15.	NOTICES OF RECORD DATE

 

Upon (a) any establishment
by the Company of a record date of the holders of any class of securities for the purpose of determining the holders thereof who
are entitled to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other
right, or (b) any capital reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into
any other corporation, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution,
liquidation or winding up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock
(whether newly issued, or from treasury, or previously issued and then outstanding, or any combination thereof), the Company shall
mail to the Holder at least ten (10) Business Days, or such longer period as may be required by law, prior to the record date specified
therein, a notice specifying (i) the date established as the record date for the purpose of such dividend, distribution, option
or right and a description of such dividend, option or right, (ii) the date on which any such reorganization, reclassification,
transfer, consolidation, merger, dissolution, liquidation or winding up, or sale is expected to become effective and (iii) the
date, if any, fixed as to when the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock
for securities or other property deliverable upon such reorganization, reclassification, transfer, consolation, merger, dissolution,
liquidation or winding up.

 

    	10

    	 

    

 

		16.	RESERVATION OF SHARES

 

The Company shall reserve
and keep available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant, free
from pre-emptive rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. The
Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein
without violation of any applicable law or regulation. Without limiting the generality of the foregoing, the Company covenants
that it will use commercially reasonable efforts to take all such action as may be necessary or appropriate in order that the Company
may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents, including but not limited to consents from the Company’s
stockholders or Board of Directors or any public regulatory body, as may be necessary to enable the Company to perform its obligations
under this Warrant.

 

		17.	NO THIRD PARTY RIGHTS

 

This Warrant is not
intended, and will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or
entity may assert any rights as third-party beneficiary hereunder.

 

[signature
page follows]

 

    	11

    	 

    

IN WITNESS WHEREOF,
the Company has caused this Warrant to be duly executed as of the date first set forth above.

 

	 	GROWBLOX SCIENCES, INC.
	 	 	 
	 	By:	 
	 	Name:  Cathryn Kennedy
	 	Title:  Chief Financial Officer

 

    	12

    	 

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

(To be executed by the Holder of Warrant
if such Holder desires to exercise Warrant)

 

To __________:

 

The undersigned hereby irrevocably elects
to exercise this Warrant and to purchase thereunder, ___________________ shares of common stock issuable upon exercise of the Warrant
and delivery of:

 

(1)         $_________
(in cash as provided for in the foregoing Warrant) and any applicable taxes payable by the undersigned pursuant to such Warrant;
and

 

(2)         __________
shares of Common Stock (pursuant to a Cashless Exercise in accordance with Section 1(b)(ii) of the Warrant) (check here if the
undersigned desires to deliver an unspecified number of shares equal to the number sufficient to effect a Cashless Exercise [___]).

 

The undersigned requests that certificates
for such shares be issued in the name of:

 

_________________________________________

(Please print name, address and social security
or federal employer

identification number (if applicable))

 

_________________________________________

 

_________________________________________

 

If the shares issuable upon this exercise
of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise of the Warrant, the
undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered to:

 

_________________________________________

(Please print name, address and social security
or federal employer

identification number (if applicable))

 

_________________________________________

 

_________________________________________

 

	 	
        Name of Holder

        (print):
	 
	 	(Signature):	 
	 	(By:)	 
	 	(Title:)	 
	 	Dated:	 

    	13

    	 

    

 

EXHIBIT B

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED, ___________________________________
hereby sells, assigns and transfers to each assignee set forth below all of the rights of the undersigned under the Warrant (as
defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set opposite the name of such assignee
below and in and to the foregoing Warrant with respect to said acquisition rights and the shares issuable upon exercise of the
Warrant:

 

	Name of Assignee	 	Address	 	Number of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

If the total of the Warrant Shares are not
all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant evidencing the right
to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.

 

	 	
        Name of Holder

        (print):
	 
	 	(Signature):	 
	 	(By:)	 
	 	(Title:)	 
	 	Dated:	 

 

    	14

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