Document:

SAFETY QUICK LIGHTING & FANS CORP. 

REGISTRATION RIGHTS AGREEMENT

 

This Registration
Rights Agreement (this “Agreement”) , dated as of _________, 2015, is made by and between Safety Quick Lighting
& Fans Corp., a Florida corporation (the “Company”), and the undersigned (the “Holder”).

 

WHEREAS,
each Holder has subscribed to purchase the Shares (as defined in Section 1 below) pursuant to that certain Securities Subscription
Agreement and exhibits thereto (the “Subscription Agreement”), in connection with the Company’s offering
(the “Offering”) of a minimum of $500,000 and up to $4,000,000 in the aggregate principal amount of shares
of the common stock of the Company, no par value per share (“Common Stock”); and

 

WHEREAS,
to induce the Holder to execute and deliver the Subscription Agreement and this Agreement, the Company has agreed to provide certain
registration rights under the Securities Act of 1933, as amended (the “Securities Act”), and the rules and
regulations promulgated thereunder, and applicable state securities laws, with respect to the Shares issuable pursuant to the
Subscription Agreement.

 

NOW, THEREFORE,
for and in consideration of the foregoing premises, the agreements and covenants herein contained, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Holder, intending to be legally
bound, hereby agree as follows:

 

1. Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Subscription Agreement shall
have the meanings given such terms in the Subscription Agreement. In addition to the terms defined elsewhere in this Agreement,
the following terms have the meanings indicated in this Section 1:

 

“Closing
Date” means the Closing Date, as that term is defined in the Subscription Agreement.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Effectiveness
Period” shall mean from the date hereof until the earlier to occur of the date when all Registrable Securities covered
by a Registration Statement either (a) have been sold pursuant to a Registration Statement or an exemption from the registration
requirements of the Securities Act, and (b) pursuant to a written opinion of Company counsel acceptable to the Company’s
transfer agent and the legal counsel for the Holder, may be sold pursuant to Rule 144.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

“Holder”
or “Holders” shall have the meaning ascribed to such term in the recitals of this Agreement, and shall specifically
mean the holder or holders, as the case may be, from time to time of Registrable Securities (including any permitted assignee)
issued pursuant to the Offering.

 

“Person”
shall mean an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding,
such as a deposition), whether commenced or threatened.

 

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

    	 

    	 

    

“Reasonable
Best Efforts” means that the Company has taken steps which are commercially reasonable under the circumstances to accomplish
its obligations hereunder, without jeopardizing the Company’s operational and financial stability.

 

“Registrable
Securities” means (i) the Shares, and (ii) any shares of Common Stock issued or issuable upon any stock split, dividend
or other distribution, recapitalization, anti-dilution adjustment or similar event with respect to the foregoing.

 

“Registration
Statement” means any registration statement required to be filed hereunder (which, at the Company's option, may be an
existing registration statement of the Company previously filed with the Commission, but not declared effective), including (in
each case) the Prospectus, amendments and supplements to the registration statement or Prospectus, including pre- and post-effective
amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in the
registration statement.

 

“Rule 144”
means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule.

 

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

 

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

 

“Shares”
means the shares of Common Stock purchased by the Holder and issued by the Company pursuant to the Subscription Agreement.

 

“Trading Day” means (a) a day on which
the Common Stock is listed or quoted for trading on a Trading Market, or (b) if the Common Stock is not trading on a
Trading Market, a day on which the Common Stock is quoted in the over-the-counter market as reported by Pink Sheets
LLC (or any similar organization or agency succeeding to its functions of reporting price). In the event that the Common
Stock is not listed or quoted as set forth in (a) and (b) hereof, then Trading Day shall mean a business day.

 

“Trading
Market” means the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date
in question: the OTC Bulletin Board, the American Stock Exchange, the New York Stock Exchange, the NASDAQ Global Market or the
NASDAQ Capital Market.

 

2. Registration.

 

(a) Mandatory Registration. The Company shall, on the date that is one hundred fifty (150) days from the Closing Date (the
“Mandatory Filing Date”), use its Reasonable Best Efforts to file with the Commission a Registration Statement
(the “Mandatory Registration Statement”), covering the resale of all of the Registrable Securities for an offering
to be made on a continuous basis pursuant to Rule 415. The Mandatory Registration Statement required hereunder shall be on
Form S-1 or Form S-3 (except if the Company is not then eligible to register for resale the Registrable Securities on Form S-1
or Form S-3, in which case the Mandatory Registration Statement shall be on another appropriate form in accordance herewith).

 

(b) Filing Default Damages. If a Mandatory
Registration Statement is not filed on or prior to the Mandatory Filing Date, then the Company shall pay to the Holder an amount
in cash, as partial liquidated damages and not as a penalty, equal to two percent (2%) of the gross proceeds paid by the Holder
for the Shares (the “Filing Default Damages”).

    	 

    	 

    

(c)The Company
shall not be responsible to pay any Filing Default Damages if the Company has exercised its Reasonable Best Efforts to file the
Registration Statement and have the Shares declared effective. The Filing Default Damages and any related interest thereon shall
be paid, at the Holder’s option, in cash or Common Stock (priced at the price per share paid by the Holder for the Shares
pursuant to the Subscription Agreement), or a portion thereof. Failure of the Company to make payment of the Filing Default Damages
within thirty (30) days of the Mandatory Filing Date shall be considered a breach of this Agreement.

 

(d)Notwithstanding
the foregoing or anything else contained in this Agreement, any and all damages, penalties or interest incurred in connection
with this Agreement shall, in no case, collectively exceed ten percent (10%) of the gross proceeds paid by the Holder for the
Shares.

 

3. Registration Procedures. In connection with the Company's registration obligations hereunder, and during the period in
which the Company is required or elects to keep the Registration Statement effective (the “Effectiveness Period”),
the Company shall:

 

(a) Prepare and file with the Commission such amendments, including post-effective amendments, to the Registration Statement and
the Prospectus used in connection therewith as may be necessary to keep the Registration Statement continuously effective as to
the applicable Registrable Securities for the Effectiveness Period; (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement, and as so supplemented or amended, to be filed pursuant to Rule 424; and (iii) respond
to any comments received from the Commission with respect to the Registration Statement or any amendment thereto.

 

(b)
Notify each Holder of Registrable Securities included in the Registration Statement, as promptly as reasonably possible, (i) of
the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness
of the Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that
purpose; and (ii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation of any Proceeding for
such purpose.

 

(c)
Use its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order suspending the effectiveness
of the Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable
Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(d)
Promptly deliver to each Holder upon reasonable request, without charge, an electronic copy of the final Prospectus or Prospectuses
and each amendment or supplement thereto. The Company hereby consents to the use of such Prospectus and each amendment or supplement
thereto by the Holder in connection with the offering and sale of the Registrable Securities covered by such Prospectus and any
amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(b).

 

(e) Prior to any resale of Registrable Securities
by Holder, use its best efforts to register or qualify or cooperate with the selling Holders in connection with the registration
or qualification (or exemption from the registration or qualification) of such Registrable Securities for the resale by a Holder
under the securities or blue sky laws of such jurisdictions within the United States as any Holder reasonably requests in writing,
to keep such registration or qualification (or exemption therefrom) effective during the Effectiveness Period and to do any and
all other acts or things reasonably necessary to enable the disposition in such jurisdictions of the Registrable Securities covered
by the Registration Statement; provided, however, that the Company shall not be required to qualify generally to
do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction
where it is not then so subject, or file a general consent to service of process in any such jurisdiction.

    	 

    	 

    

(f) Upon the occurrence of any event that makes, or with the passage of time would make, the financial statements included in the
Registration Statement ineligible for inclusion therein, or, that makes, or with the passage of time would make, any statement
made in the Registration Statement or Prospectus or any document incorporated or deemed to be incorporated therein by reference
untrue in any material respect, as promptly as reasonably possible, prepare a supplement or amendment, including a post-effective
amendment, to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be
incorporated therein by reference, and file any other required document so that, as thereafter delivered, neither the Registration
Statement nor such Prospectus will 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.

 

(g)
Use its Reasonable Best Efforts to comply with all applicable rules and regulations of the Commission relating to the registration
of the Registrable Securities pursuant to the Registration Statement or otherwise.

 

(h) The Company covenants that it shall file the reports required to be filed by it under the Securities Act and the Exchange Act
and the rules and regulations adopted by the SEC thereunder so long as the Holder owns any Registrable Securities, but in no event
longer than two (2) years after the date the Registration Statement is declared effective; provided, however, that
the Company may delay any such filing but only pursuant to Rule 12b-25 under the Exchange Act, and the Company shall take
such further reasonable action as the Holder may reasonably request, all to the extent required from time to time to enable such
Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided
by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar
rule or regulation hereafter adopted by the Commission.

 

4. Registration Expenses. All fees and
expenses incident to the performance of or compliance with this Agreement by the Company shall be borne by the Company whether
or not any Registrable Securities are sold pursuant to the Registration Statement, other than fees and expenses of counsel or
any other advisor retained by the Holder(s) and discounts and commissions with respect to the sale of any Registrable Securities
by the Holder(s). The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration
and filing fees (including, without limitation, fees and expenses (A) with respect to any filings required to be made with the
Trading Market on which the Common Stock is then listed for trading, and (B) in compliance with applicable state securities or
blue sky laws), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities
and of printing prospectuses if the printing of prospectuses is reasonably requested by the holders of a majority of the Registrable
Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements
of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance, in its sole discretion,
and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions
contemplated by this Agreement.

    	 

    	 

    

5. Indemnification.

 

(a) Indemnification by the Company. The Company
shall, notwithstanding any termination of this Agreement, indemnify and hold harmless the Holder, the officers, directors,
agents and employees of it, each Person who controls the Holder (within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act) and the officers, directors, agents and employees of each such controlling Person, to
the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs
(including, without limitation, reasonable attorneys' fees) and expenses relating to an Indemnified Party’s actions to
enforce the provisions of this Section 5 (collectively, “Losses”), as incurred, to the extent
arising out of or relating to any untrue or alleged untrue statement of a material fact contained in the Registration
Statement, any Prospectus or any form of prospectus, or in any amendment or supplement thereto, or in any preliminary
prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated
therein or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement
thereto, in light of the circumstances under which they were made) not misleading, except to the extent, but only to the
extent, that (i) such untrue statements or omissions are based solely upon information regarding such Holder furnished (or in
the case of an omission, not furnished) in writing to the Company by or on behalf of such Holder expressly for use therein,
or to the extent that such information relates to such Holder or such Holder's proposed method of distribution of Registrable
Securities and was reviewed and expressly approved in writing by such Holder expressly for use in the Registration Statement,
such Prospectus or such form of prospectus, or in any amendment or supplement thereto, (ii) in the case of an occurrence of
an event of the type specified in Section 3(b)(iii)-(v), the use by such Holder of an outdated or defective
Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior to
the receipt by such Holder of written notice from the Company that the use of the applicable Prospectus may be resumed, or
(ii) the failure of the Holder to deliver a prospectus prior to the confirmation of a sale. The Company shall notify the
Holders promptly of the institution, threat or assertion of any proceeding of which the Company is aware in connection with
the transactions contemplated by this Agreement.

 

(b) Indemnification by Holder. The Holder
shall indemnify and hold harmless the Company, its directors, officers, agents and employees, each Person who controls the Company
(within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers,
agents or employees of such controlling Persons, to the fullest extent permitted by applicable law, from and against all Losses,
as incurred, to the extent arising out of or based upon: (i) the Holder's failure to comply with the prospectus delivery requirements
of the Securities Act or (ii) any untrue or alleged untrue statement of a material fact contained in any Registration Statement,
any Prospectus, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising
out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading (1) to the extent, but only to the extent, that such untrue statement or omission is contained
in any information so furnished (or in the case of an omission, not furnished) in writing by or on behalf of such Holder to the
Company specifically for inclusion in the Registration Statement or such Prospectus (or, in each case, any amendment or supplement
thereto) or (2) to the extent that (A) such untrue statements or omissions are based solely upon information regarding such Holder
furnished (or in the case of an omission, not furnished) in writing to the Company by or on behalf of such Holder expressly for
use therein, or to the extent that such information relates to such Holder or such Holder's proposed method of distribution of
Registrable Securities, such Prospectus or such form of Prospectus or in any amendment or supplement thereto, or (B) in the case
of an occurrence of an event of the type specified in Section 3(b)(iii)-(v), the use by such Holder of an outdated
or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and
prior to the receipt by such Holder of written notice from the Company that the use of the applicable Prospectus may be resumed,
or (C) the failure of the Holder to deliver a Prospectus prior to the confirmation of a sale. In no event shall the liability
of any selling Holder hereunder be greater in amount than the dollar amount of the Purchase Price paid by the Holder in the Subscription
Agreement.

    	 

    	 

    

(c) Conduct of Indemnification Proceedings. If any
Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an “Indemnified
Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the
“Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume the defense
thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and
expenses incurred in connection with defense thereof; provided, however, that the failure of any Indemnified
Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this
Agreement, except and only to the extent that such failure shall have materially prejudiced the Indemnifying Party. An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense
thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Indemnified Parties
unless: (i) the Indemnifying Party has agreed in writing to pay such fees and expenses; (ii) the Indemnifying Party shall
have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such
Indemnified Party in any such Proceeding; or (iii) the named parties to any such Proceeding (including any impleaded parties)
include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel
that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party and the
Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to
employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to
assume the defense thereof and the reasonable fees and expenses of one separate counsel for all Indemnified Parties in any
matters related on a factual basis shall be at the expense of the Indemnifying Party). The Indemnifying Party shall not be
liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be
unreasonably withheld. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any
settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an
unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.
All reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in
connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section 6)
shall be paid to the Indemnified Party, as incurred, within ten (10) Trading Days of written notice thereof to the
Indemnifying Party; provided, however, that the Indemnified Party shall promptly reimburse the Indemnifying
Party for that portion of such fees and expenses applicable to such actions for which such Indemnified Party is not entitled
to indemnification hereunder, determined based upon the relative faults of the parties.

 

(d) Contribution. If a claim for indemnification
under Section 5(a) or Section 5(b) is unavailable to an Indemnified Party (by reason of public policy or otherwise),
then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by
such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying
Party and Indemnified Party in connection with the actions, statements or omissions that resulted in such Losses as well as any
other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined
by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material
fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such
Indemnifying Party or Indemnified Party, and the parties' relative intent, knowledge, access to information and opportunity to
correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be
deemed to include, subject to the limitations set forth in Section 5(c), any reasonable attorneys' or other reasonable
fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified
for such fees or expenses if the indemnification provided for in this Section 5 was available to such party in accordance
with its terms.

    	 

    	 

    

(e)Rule 144. As long as any Holder owns
any Shares or Registrable Securities, the Company covenants to timely file (or obtain extensions in respect thereof and file within
the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Section 13(a) or
15(d) of the Exchange Act. As long as any Holder owns any Shares or Registrable Securities, if the Company is not required to
file reports pursuant to Section 13(a) or 15(d) of the Exchange Act, it will prepare and furnish to the Holders and make publicly
available in accordance with Rule 144(c) promulgated under the Securities Act annual and quarterly financial statements, in the
time period that such filings would have been required to have been made under the Exchange Act. The Company further covenants
that it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable
such person to sell the Shares without registration under the Securities Act within the limitation of the exemptions provided
by Rule 144 promulgated under the Securities Act, including providing any legal opinions relating to such sale pursuant to Rule
144, if such person is deemed by the Company’s counsel to be in compliance with the rules and regulations set forth in Rule
144. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer
as to whether it has complied with such requirements.

 

 6. Miscellaneous.

 

(e) Compliance. The Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities
Act as applicable to it in connection with sales of Registrable Securities pursuant to the Registration Statement.

 

(f) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall
be in writing and signed by the Company and each Holder of the then outstanding Registrable Securities.

 

(g) Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder or to the Company
shall be delivered in accordance with the notice provisions of the Subscription Agreement.

 

(h) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties and shall inure to the benefit of the Holder.

 

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

 

(j) Governing Law. This Agreement shall
be governed by and construed exclusively in accordance with the internal laws of the State of Florida without regard to the conflicts
of laws principles thereof. The parties hereto hereby irrevocably agree that any suit or proceeding arising directly and/or indirectly
pursuant to or under this Agreement, shall be instituted in the courts of the State of Georgia sitting in Fulton County or in
the United States District Court for the Northern District of Georgia. By its execution hereof, the parties hereby covenant and
irrevocably submit to the in personam jurisdiction of the courts of the State of Georgia sitting in Fulton County
or in the United States District Court for the Northern District of Georgia, and agree that any process in any such action may
be served upon any of them personally, or by certified mail or registered mail upon them or their agent, return receipt requested,
with the same full force and effect as if personally served upon them. The parties hereto waive any claim that any such jurisdiction
is not a convenient forum for any such suit or proceeding and any defense or lack of in personam jurisdiction with respect
thereto. In the event of any such action or proceeding, the party prevailing therein shall be entitled to payment from the other
party hereto of its reasonable counsel fees and disbursements.

    	 

    	 

    

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

 

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

 

[Signatures Page
Follows]

    	 

    	 

    

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

 

	COMPANY:	 	SAFETY QUICK LIGHTING & FANS CORP.
	 	 	 
	
 	By:	/s/ John P/ Campi
		 	John P. Campi
	 	 	Chief Executive Officer
	 	 	 
	HOLDER:		
	 	 	 
	 	By:	
	 	Name:	
	 	Title:Exhibit 4.9

 

LION BIOTECHNOLOGIES, INC.

 

OPTION CERTIFICATE

(Incentive Stock Option)

 

THIS IS TO CERTIFY that Lion Biotechnologies,
Inc., a Nevada corporation (the “Company”), has granted to the employee named below (“Optionee”)
an incentive stock option (the “Option”) to purchase shares of the Company’s Common Stock (the “Shares”)
under its 2014 Equity Incentive Plan (the “Plan”) and upon the terms and conditions set forth below and in the
attached Stock Option Agreement:

 

	 	
        Name of Optionee:

	 	 
	 	
        Address of Optionee:

	 	 
	 	
        Number of Shares:

	 	 
	 	
        Option Exercise Price:

	 	 
	 	
        Date of Grant:

	 	 
	 	
        Option Expiration Date:

 

Exercise Schedule: The Option shall
become exercisable (“vest”) as follows:

 

	 	Date	Number of Shares
	 	 	 
	 	 	 
	 	 	 

 

In Witness Whereof, the Company has granted
to Optionee the Option as of the Date of Grant set forth above.

 

	OPTIONEE	 	LION BIOTECHNOLOGIES, INC.
	 	 	 
	 	 	By	
	 	 	Its  	 

 

    	 

    	 

    

 

STOCK OPTION AGREEMENT

(Incentive Stock Option)

 

 

This STOCK OPTION AGREEMENT (this “Agreement”)
is made and entered into as of the Date of Grant set forth in the Option Certificate to which this Agreement is attached (the “Certificate”)
by and between Lion Biotechnologies, Inc., a Nevada corporation (the “Company”), and the optionee (the “Optionee”)
named in the Certificate.

 

Pursuant to the 2014 Equity Incentive Plan
of the Company (the “Plan”), the Administrator has determined that Optionee is to be granted, on the terms and
conditions set forth in this Agreement and in the Plan, an option to purchase shares of the Company’s common stock (the “Common
Stock”). It is intended that the option qualify as an “incentive stock option” within the meaning of Section
422 of the Internal Revenue Code of 1986, as amended from time to time (the “Code”). Capitalized terms not otherwise
defined in this Agreement shall have the meanings ascribed to them in the Plan.

 

The Company and Optionee agree as follows:

 

1. Grant
of Option. The Company hereby grants to Optionee, upon the terms and subject to the conditions set forth in this
Agreement, an Option (the “Option”) to purchase all or any portion of that number of shares of
Common Stock set forth in the Certificate (the “Option Shares”), at the exercise price set forth in the
Certificate (the “Exercise Price”).

 

2. Vesting

 

2.1. The Option shall “vest” (that is, become exercisable) in installments upon and after the dates set forth
under the caption “Exercise Schedule” in the Certificate. The installments shall be cumulative; i.e.,
the Option may be exercised, as to any or all Shares covered by an installment, at any time or times after the installment first
becomes exercisable and until expiration or termination of the Option.

 

2.2. No
vesting shall occur after the Employment Termination Date (as defined in Section 4.2 of this Agreement).

 

2.3. Notwithstanding anything to the contrary contained in this Option Agreement, the Option may not be exercised, in
whole or in part, unless and until any then-applicable requirements of all state and federal laws and regulatory agencies shall
have been fully complied with to the satisfaction of the Company and its counsel.

 

3. Exercise of the Option.

 

3.1. The
Option may be exercised, in whole or in part, only by delivery to the Company of:

 

3.1.1 written notice of the exercise of the Option in form identical to Exhibit “A” attached to this
Agreement stating the number of Option Shares being purchased (the “Purchased Shares”); and

 

    	 

    	 

    

 

3.1.2 payment
of the Exercise Price (i) in cash or cash equivalent; or (ii) with the approval of the Administrator, by delivery to the
Company of such other consideration (such as a note or shares of Common Stock) acceptable to the Administrator.

 

3.2. Following
receipt of the exercise notice, any other applicable documents and the payment referred to above, the Company shall, within
30 days, cause certificates representing the Purchased Shares to be delivered to Optionee either at Optionee’s address
set forth in the records of the Company or at such other address as Optionee may designate in writing to the Company (or, if
no certificate is issued, by entry on the Company’s books and records of the foregoing); provided; however,
that the Company shall not be obligated to issue a fraction or fractions of a share otherwise issuable upon exercise of the
Option, and may pay to Optionee, in cash or cash equivalent, the fair market value of any such fraction or fractions of a
share as of the date of exercise.

 

3.3. If
requested by the Administrator, Optionee shall also deliver this Agreement to the Secretary of the Company, who shall endorse
hereon a notation of the exercise and return this Agreement to Optionee. The date of exercise of an Option that is validly
exercised shall be deemed to be the date on which there shall have been delivered to the Administrator the
instruments referred to in this Section 3. Optionee shall not be deemed to be a holder of any Option Shares pursuant to
exercise of the Option until the date of issuance of a stock certificate to him or her for such shares following payment in
full for the Option Shares purchased.

 

3.4. Should
this Option become a non-qualified stock option, in whole or in part, for any reason, then, as a condition to exercise of
this Option, the Company may require Optionee to pay over to the Company all applicable federal, state and local taxes which
the Company is required to withhold with respect to the exercise of such non-qualified stock option. At the discretion of the
Administrator and upon the request of Optionee, the minimum statutory withholding tax requirements may be satisfied by the
withholding of Shares otherwise issuable to Optionee upon the exercise of this Option.

 

4. Termination
of Option

 

4.1. The
Option shall terminate and expire upon the earliest to occur of: (i) the Option Expiration Date set forth in the Option
Certificate; (ii) the Termination Date; and (iii) a Corporate Transaction unless otherwise specified by the
Administrator.

 

4.2. For
purposes of this Agreement:

 

4.2.1 “Employment
Termination Date” shall mean the first day Optionee is not an employee of the Company or any of its Affiliates.
Optionee’s employment shall not be deemed to terminate by reason of a transfer to or from the Company or an Affiliate
or among such entities, or sick leave, military leave or other leave of absence approved by the Administrator, if the period
of any such leave does not exceed 90 days or, if longer, if Optionee’s right to reemployment by the Company or any
Affiliate is guaranteed either contractually or by statute.

 

    	2

    	 

    

 

4.2.2 “Termination
Date” shall be: (a) the date 90 days following the Employment Termination Date unless Optionee’s employment
is terminated For Cause or as a result of the death or disability of Optionee; (b) upon the Employment Termination Date if
Optionee’s employment is terminated For Cause; or (c) the date one year following the Employment Termination Date
as a result of the death or disability of Optionee.

 

4.2.3 “For
Cause” shall mean Optionee’s loss of employment by the Company or any of its Affiliates due to
Optionee’s (a) willful breach or habitual neglect or continued incapacity to perform Optionee’s required duties,
(b) commission of acts of dishonesty, fraud, misrepresentation or other acts of moral turpitude in connection with
Optionee’s services to the Company or its Affiliates or which in the determination of the Administrator would prevent
the effective performance of Optionee’s duties or (c) termination For Cause under any employment agreement between the
Company and Optionee (as for cause is defined therein).

 

5. Adjustment.
The number of shares and Exercise Price of this Option shall be subject to adjustment under the circumstances contemplated
by the Plan and the Option Expiration Date may be accelerated by the Administrator upon the circumstances set forth in the
Plan.

 

6.  Corporate
Transactions. Upon the occurrence of a Corporate Transaction, the Option shall be subject to the actions of the
Administrator as contemplated in the Plan, including without limitation the termination of the Option immediately prior to
the consummation of the Corporate Transaction.

 

7. Modification.
Subject to the terms and conditions and within the limitations of the Plan, the Administrator may modify, extend or renew the
Option or accept the surrender of, and authorize the grant of a new option in substitution for, the Option (to the extent not
previously exercised). No modification of the Option shall be made which, without the consent of Optionee, would cause the
Option to fail to continue to qualify as an “incentive stock option” within the meaning of Section 422 of
the Code or would alter or impair any rights of Optionee under the Option.

 

8. Disqualifying
Disposition. Optionee agrees that, should he or she make a “disposition” (as defined in Section
424(c) of the Code) of all or any of the Purchased Shares within two years from the date of the grant of the Option or within
one year after the issuance of such Purchased Shares, he or she shall immediately advise the Company in writing as to the
occurrence of the sale and the price realized upon the sale of such Purchased Shares. Optionee agrees that he or she shall
maintain all Purchased Shares in his or her name so long as he or she maintains beneficial ownership of such Purchased
Shares.

 

9. Incorporation
of Plan. This Agreement is made pursuant to the Plan, and it is intended, and shall be interpreted in a manner, to
comply with the Plan. Any provision of this Agreement inconsistent with the Plan shall be superseded and governed by the
Plan.

 

10. Restrictions
on Sale of Purchased Shares. Optionee understands that: (a) unless the issuance of the Purchased Shares to Optionee upon
exercise of the Option is registered under the Securities Act of 1933, as amended (the “Securities Act”),
the Purchased Shares will be “restricted securities” within the meaning of Rule 144 under such Act; (b)
the Purchased Shares may not be sold, transferred or assigned by the Optionee except pursuant to an effective registration
statement under the Securities Act or an exemption from registration under the Securities Act; and (c) the Company is under
no obligation to file a registration statement under the Securities Act covering the Option Shares. Optionee agrees that any
certificates evidencing Purchased Shares may bear a legend indicating that their transferability is restricted in accordance
with applicable state and federal securities laws.

 

    	3

    	 

    

 

11. General
Provisions.

 

11.1. Further
Assurances. Optionee shall promptly take all actions and execute all documents requested by the Company that the Company
deems to be reasonably necessary to effectuate the term and intent of this Agreement.

 

11.2. Notices.
All notices, requests, demands and other communications (collectively, “Notices”) given pursuant to this
Agreement shall be in writing, and shall be delivered by personal service, courier, or by United States first class,
registered or certified mail, postage prepaid, addressed to the party at the address set forth on the signature page of this
Agreement. Any Notice, other than a Notice sent by registered or certified mail, shall be effective when received; a
Notice sent by registered or certified mail, postage prepaid return receipt requested, shall be effective on the earlier of
when received or the third day following deposit in the United States mails. Any party may from time to time change its
address for further Notices hereunder by giving notice to the other party in the manner prescribed in this Section.

 

11.3. Failure
to Enforce Not a Waiver. The failure of the Company to enforce at any time any provision of this Agreement shall in no
way be construed to be a waiver of such provision or of any other provision hereof.

 

11.4. Governing
Law. This Agreement shall be governed by and construed in accordance with the law of the State of Nevada applicable to
contracts made in, and to be performed within, that State.

 

11.5. Transfer
of Rights under this Agreement. The Company may at any time transfer and assign its rights and delegate its obligations
under this Agreement to any other person, corporation, firm or entity, with or without consideration.

 

11.6. Option Non-transferable. Optionee may not sell, transfer, assign or otherwise dispose of the Option except
by will or the laws of descent and distribution, and only Optionee or his or her legal representative or guardian may exercise
the Option during Optionee’s lifetime.

 

11.7. No Right to Employment. Nothing in this Option shall interfere with or limit in any way the right of the Company
or of any of its Affiliates to terminate Optionee’s employment, consulting or advising at any time, nor confer upon Optionee
any right to continue in the employ of, consult with or advise the Company or any of its Affiliates.

 

    	4

    	 

    

 

11.8. Delivery
of Plan to Optionee. Optionee acknowledges that a copy of the Plan has been delivered to Optionee and that Optionee has
read the Plan prior to signing this Agreement.

 

11.9.
Successors and Assigns. Except to the extent specifically limited by the terms and provision of this Agreement,
this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, assigns,
heirs and personal representatives.

 

11.10. Miscellaneous.
Titles and captions contained in this Agreement are inserted for convenience of reference only and do not constitute a part
of this Agreement for any other purpose. Except as specifically provided herein, neither this Agreement nor any right
pursuant hereto or interest herein shall be assignable by any of the parties hereto without the prior written consent of the
other party hereto.

 

11.11.
Tax Treatment. Optionee acknowledges that the tax treatment of the Option, the Option Shares or any events or transactions
with respect thereto may be dependent upon various factors or events that are not determined by the Plan or this Agreement. The
Company makes no representations with respect to and hereby disclaims all responsibility as to such tax treatment.

 

The signature page of this Agreement consists
of the last page of the Certificate.

 

    	5

    	 

    

 

EXHIBIT “A”

 

NOTICE OF EXERCISE

 

(To be signed only upon exercise of the
Option)

 

		TO:	Lion Biotechnologies, Inc.

 

The undersigned, the holder of the enclosed
Stock Option Agreement (Incentive Stock Option), hereby irrevocably elects to exercise the purchase right represented by the Option
and to purchase thereunder ______* shares of Common Stock of Lion Biotechnologies, Inc. (the “Company”) and
herewith encloses payment of $_________ in full payment of the purchase price of such shares being purchased.

 

	Dated: 	 	 	 
	 	 	 
	 	 	(Signature must conform in all respects
to name
	 	 	of holder as specified on the face of the Option
	 	 	 
	 	 	 
	 	 	 
	 	 	
        (Address)

	 	 	 
	 	 	
	 	 	Social Security Number

  

*Insert here the number of shares being
exercised making all adjustments for stock splits, stock dividends or other additional Common Stock of the Company, other securities
or property which, pursuant to the adjustment provisions of Section 5 of the Option, may be deliverable upon exercise.

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