Document:

EXHIBIT A

 

Form of Representative’s Warrant Agreement

 

THE REGISTERED
HOLDER OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT
EXCEPT AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE
OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE EFFECTIVE DATE (DEFINED BELOW) TO ANYONE
OTHER THAN (I) THINKEQUITY, A DIVISION OF FORDHAM FINANCIAL MANAGEMENT, INC., OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF THINKEQUITY, A DIVISION OF FORDHAM FINANCIAL MANAGEMENT, INC., OR
OF ANY SUCH UNDERWRITER OR SELECTED DEALER.

 

THIS
PURCHASE WARRANT IS NOT EXERCISABLE PRIOR TO [________________] [DATE THAT IS ONE YEAR FROM THE EFFECTIVE DATE OF THE OFFERING].
VOID AFTER 5:00 P.M., EASTERN TIME, [___________________] [DATE THAT IS FIVE YEARS FROM THE EFFECTIVE DATE OF THE OFFERING].s

 

WARRANT
TO PURCHASE COMMON STOCK

 

MR2
GROUP, INC.

 

	Warrant Shares: _______	 	Initial Exercise Date: ______, 2019

 

 

THIS
WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, ThinkEquity, a division
of Fordham Financial Management Inc. or its assigns (the “Holder”) is entitled, upon the terms and subject to
the limitations on exercise and the conditions hereinafter set forth, at any time on or after __________________, 20191 (the
“Initial Exercise Date”) and, in accordance with FINRA Rule 5110(f)(2)(G)(i), prior to at 5:00 p.m. (New York
time) on the date that is five (5) years following the Effective Date (the “Termination Date”) but not thereafter,
to subscribe for and purchase from MR2 Group, Inc., a Nevada corporation (the “Company”), up to ____________________________
shares2 (the “Warrant Shares”) of common stock, par value $0.001 per share, of the Company (the “Common
Stock”) initially, as subject to adjustment hereunder. The purchase price of one share of Common Stock under this Warrant
shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings
indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

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

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

 

 

1
       One year from effective date of offering.

2
       5% of shares sold in the offering (including over-allotment shares).

 

 

    	 	Ex. A-1	 

    	 

     

“Effective
Date” means the date on which the registration statement on Form S-1 (File No. 333-224425), for the registration of the
Company’s securities, this Warrant and the Warrant Shares under the Securities, is declared effective by the Commission.

 

“Person”
means 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.

 

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

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the New York Stock Exchange is open for trading.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market,
the New York Stock Exchange (or any successors to any of the foregoing).

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if OTCQB or OTCQX is not a Trading Market, the
volume weighted average price of a share of Common Stock for such date (or the nearest preceding date) on the OTCQB or OTCQX as
applicable, (c) if Common Stock is not then listed or quoted for trading on the OTCQB or OTCQX and if prices for Common Stock are
then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of Common Stock so reported, or (d) in all other cases,
the fair market value of the Common Stock as determined by an independent appraiser selected in good faith by the Holder and reasonably
acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

Section
2. Exercise.

 

a)
Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after
the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the
Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of
the Company) of a duly executed facsimile copy (or e-mail attachment) of the Notice of Exercise Form annexed hereto. Within two
(2) Trading Days following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares
specified in the applicable Notice of Exercise by wire transfer or cashier’s check drawn on a United States bank unless the
cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original
Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice
of Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been
exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within five (5) Trading
Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number
of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and
the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall
deliver any objection to any Notice of Exercise Form within two (2) Business Days of receipt of such notice. The Holder and
any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof.

 

    	 	Ex. A-2	 

    	 

     

b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be $_______3,
subject to adjustment hereunder (the “Exercise Price”).

 

c)
Cashless Exercise. If at any time on or after the Initial Exercise Date, there is no effective registration statement registering,
or the prospectus contained therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may
also be exercised, in whole or in part, at such time by means of a “cashless exercise” in which the Holder shall be
entitled to receive the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A) =	the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;
	 	 	 
	 	(B) =	the Exercise Price of this Warrant, as adjusted hereunder; and
	 	 	 
	 	(X) =	the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

If
Warrant Shares are issued in such a “cashless exercise,” the parties acknowledge and agree that in accordance with
Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised,
and the holding period of the Warrants being exercised may be tacked on to the holding period of the Warrant Shares. The Company
agrees not to take any position contrary to this Section 2(c).

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted
by its transfer agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with
The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is
then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant
Shares to or resale of the Warrant Shares by Holder, or (B) the Warrant Shares are eligible for resale by the Holder without volume
or manner-of-sale limitations pursuant to Rule 144 and, in either case, the Warrant Shares have been sold by the Holder prior to
the Warrant Share Delivery Date (as defined below), and otherwise by physical delivery of a certificate, registered in the Company’s
share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant
to such exercise to the address specified by the Holder in the Notice of Exercise by the date that is two (2) Trading Days after
the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). If the
Warrant Shares can be delivered via DWAC, the transfer agent shall have received from the Company, at the expense of the Company,
any legal opinions or other documentation required by it to deliver such Warrant Shares without legend (subject to receipt by the
Company of reasonable back up documentation from the Holder, including with respect to affiliate status) and, if applicable and
requested by the Company prior to the Warrant Share Delivery Date, the transfer agent shall have received from the Holder a confirmation
of sale of the Warrant Shares (provided the requirement of the Holder to provide a confirmation as to the sale of Warrant Shares
shall not be applicable to the issuance of unlegended Warrant Shares upon a cashless exercise of this Warrant if the Warrant Shares
are then eligible for resale pursuant to Rule 144(b)(1)). The Warrant Shares shall be deemed to have been issued, and Holder or
any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes,
as of the date the Warrant has been exercised, with payment to the Company of the Exercise Price (or by cashless exercise, if permitted)
and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi) prior to the issuance of such shares, having
been paid. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise by the
second Trading Day following the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages
and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the
date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after
such liquidated damages begin to accrue) for each Trading Day after the second Trading Day following such Warrant Share Delivery
Date until such Warrant Shares are delivered or Holder rescinds such exercise.

 

 

 

 

 

3
       125% of the public offering price per share of common stock in the offering.

 

    	 	Ex. A-3	 

    	 

     

ii.
Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the request
of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder
a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which
new Warrant shall in all other respects be identical with this Warrant.

 

iii.
Rescission Rights. If the Company fails to cause its transfer agent to deliver to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will also have the right to rescind such exercise; provided,
however, that the Holder shall be required to return any Warrant Shares or Common Stock subject to any such rescinded exercise
notice concurrently with the return to Holder of the aggregate Exercise Price paid to the Company for such Warrant Shares and the
restoration of Holder’s right to acquire such Warrant Shares pursuant to this Warrant (including, issuance of a replacement
warrant certificate evidencing such restored right).

 

iv.
Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any other rights available
to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder the Warrant Shares pursuant to an exercise
on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open
market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in
satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”),
then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including
brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times
(2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder,
either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have
been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases
Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common
Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding
sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating
the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.
Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including,
without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s failure to timely
deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

 

v.
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise
of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the
Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction
multiplied by the Exercise Price or round up to the next whole share.

 

    	 	Ex. A-4	 

    	 

     

vi.
Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid
by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as may be directed by
the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name
of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed
by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer
tax incidental thereto. The Company shall pay all transfer agent fees required for same-day processing of any Notice of Exercise
and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required
for same-day electronic delivery of the Warrant Shares.

 

vii.
Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise
of this Warrant, pursuant to the terms hereof.

 

viii.
Signature. This Section 2 and the exercise form attached hereto set forth the totality of the procedures required of the
Holder in order to exercise this Purchase Warrant. Without limiting the preceding sentences, no ink-original exercise form shall
be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any exercise form be required in
order to exercise this Purchase Warrant. No additional legal opinion, other information or instructions shall be required of the
Holder to exercise this Purchase Warrant. The Company shall honor exercises of this Purchase Warrant and shall deliver Shares underlying
this Purchase Warrant in accordance with the terms, conditions and time periods set forth herein.

 

e)
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have
the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to
such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates,
and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own
in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares
of Common Stock beneficially owned by the Holder and its Affiliates shall include the number of shares of Common Stock issuable
upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of
Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned
by the Holder or any of its Affiliates and (ii) exercise or conversion of the unexercised or nonconverted portion of any other
securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion
or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its Affiliates. Except as set
forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with
Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that
the Company is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and
the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation
contained in this Section 2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities
owned by the Holder together with any Affiliates) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates) and of which portion
of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(e), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public announcement by the Company or (C) a more recent written notice by
the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written
or oral request of a Holder, the Company shall within two Trading Days confirm orally and in writing to the Holder the number of
shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after
giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership Limitation”
shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial
Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99%
of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock
upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase
in the Beneficial Ownership Limitation will not be effective until the 61st day after such notice is delivered to the
Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with
the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the
intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly
give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant.

 

    	 	Ex. A-5	 

    	 

     

Section
3. Certain Adjustments.

 

a)
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or
otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company
upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines
(including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares,
if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted
such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a)
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.
For the purposes of clarification, the Exercise Price of this Warrant will not be adjusted in the event that the Company or any
Subsidiary thereof, as applicable, sells or grants any option to purchase, or sell or grant any right to reprice, or otherwise
dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or Common
Stock Equivalents, at an effective price per share less than the Exercise Price then in effect.

 

b)
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants,
issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the
record holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled
to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).

 

    	 	Ex. A-6	 

    	 

     

c)
Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend
(other than cash dividends) or other distribution of its assets (or rights to acquire its assets) to holders of shares of Common
Stock, by way of return of capital or otherwise (including, without limitation, any distribution of shares or other securities,
property or options by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar
transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the
Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such Distribution (provided, however, to the extent
that the Holder’s right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership
of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Beneficial Ownership Limitation). To the extent that this Warrant has not been partially or completely exercised at the time
of such Distribution, such portion of the Distribution shall be held in abeyance for the benefit of the Holder until the Holder
has exercised this Warrant.

 

d)
Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange
offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell,
tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the
outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification,
reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more
related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation,
a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other
Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held
by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to,
such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then,
upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have
been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder
(without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the
successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the
“Alternate Consideration”) receivable by holders of Common Stock as a result of such Fundamental Transaction
for each share of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without
regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d) pursuant to written agreements
in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of
the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable
for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares
of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this
Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares
of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose
of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which
is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor
Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions
of this Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right
and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such
Successor Entity had been named as the Company herein.

 

    	 	Ex. A-7	 

    	 

     

e)
Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share,
as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as
of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

 

f)
Notice to Holder.

 

i.
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment
to the number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

ii.
Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form)
on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock,
(C) the Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase
any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required
in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale
or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock
is converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution,
liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed a notice to the
Holder at its last address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the
applicable record or effective date hereinafter specified, stating (x) the date on which a record is to be taken for the purpose
of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders
of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange 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 of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger,
sale, transfer or share exchange; provided that the failure to provide such notice or any defect therein shall not affect the validity
of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder constitutes,
or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously
file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this
Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except
as may otherwise be expressly set forth herein.

 

    	 	Ex. A-8	 

    	 

     

Section 4. Transfer
of Warrant.

 

a) Transferability.
Pursuant to FINRA Rule 5110(g)(1), neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant shall be sold,
transferred, assigned, pledged, or hypothecated, or be the subject of any hedging, short sale, derivative, put, or call transaction
that would result in the effective economic disposition of the securities by any person for a period of 180 days immediately following
the date of effectiveness or commencement of sales of the offering pursuant to which this Warrant is being issued, except the transfer
of any security:

 

i. by operation
of law or by reason of reorganization of the Company;

 

ii. to any FINRA
member firm participating in the offering and the officers or partners thereof, if all securities so transferred remain subject
to the lock-up restriction in this Section 4(a) for the remainder of the time period;

 

iii. if the aggregate
amount of securities of the Company held by the Holder or related person do not exceed 1% of the securities being offered;

 

iv. that is beneficially
owned on a pro-rata basis by all equity owners of an investment fund, provided that no participating member manages or otherwise
directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity in the fund;
or

 

v. the exercise
or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a) for the
remainder of the time period.

 

Subject to the
foregoing restriction, any applicable securities laws and the conditions set forth in Section 4(d), this Warrant and all rights
hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially
in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes
payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver
a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified
in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned,
and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required
to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder
shall surrender this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to
the Company assigning this Warrant full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder
for the purchase of Warrant Shares without having a new Warrant issued.

 

b) New Warrants.
This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its
agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined
in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this
Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

 

c) Warrant Register.
The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”),
in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant
as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes,
absent actual notice to the contrary.

 

d) Representation by
the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise
hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or for distributing
or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law,
except pursuant to sales registered or exempted under the Securities Act.

 

 

    	 	Ex. A-9	 

    	 

     

 

Section 5. Registration
Rights. For purposes of this Section 5, the term “Registrable Securities” means the Warrant Shares for which
the applicable registration rights set forth in this Section 5 are being exercise.

 

a) Demand Right.
If at any time prior to the Termination Date, a registration statement under the Securities Act covering the issuance and resale
of the Warrant Shares is not effective, the Company, upon written demand (“Demand Notice”) of the Holder(s)
of at least 51% of the Warrant (measured by the number of Warrant Shares thereunder) (“Majority Holders”), agrees
to use its commercially reasonable efforts to register (the “Demand Registration”) under the Securities Act,
all or any portion of the Warrant Shares requested by the Majority Holders in the Demand Notice. Upon its receipt of the Demand
Notice, the Company will use its commercially reasonable efforts to file a registration statement under the Securities Act covering
the Registrable Securities within thirty days after receipt of the Demand Notice and use its commercially reasonable efforts to
have such registration statement declared effective as soon as possible thereafter. The Demand Notice shall specify the number
of shares of Registrable Securities proposed to be sold and the intended method(s) of distribution thereof. The Company will notify
all holders of the Warrants and Warrant Shares of the demand within ten days from the date of the receipt of any the Demand Notice.
Each holder of Warrants or Warrant Shares who wishes to include all or a portion of such holder’s Registrable Securities
in the Demand Registration (each such holder including shares of Registrable Securities in such registration, a “Demanding
Holder”) shall so notify the Company within fifteen days after the receipt by the holder of the notice from the Company.
Upon any such request, the Demanding Holders shall be entitled to have their Registrable Securities included in the Demand Registration.
The Company shall not be obligated to effect more than one (1) Demand Registration under this Section 5(a).

 

b) Piggyback Right.
If, at any time prior to the Terminate Date, a registration statement under the Securities Act covering the issuance and resale
of the Warrant Shares is not effective, and if at that time the Company proposes to register any of its securities under the Securities
Act (other than in connection with a registration on Form S-4 or S-8 or any successor forms) whether for its own account or for
the account of any holder or holders of its shares other than the Warrant Shares (any shares of such holder or holders (but not
those of the Company and not Warrant Shares) with respect to any registration are referred to herein as, “Other Shares”),
the Company shall at each such time give prompt (but not less than thirty (30) days prior to the anticipated effectiveness thereof)
written notice to the holders of Warrant Shares of its intention to do so. Upon the written request of any such holder of this
Warrant or Registrable Securities made within ten (10) days after the receipt of any such notice (which request shall specify the
Registrable Securities intended to be disposed of by such holder), the Company will use its commercially reasonable efforts to
effect the registration under the Securities Act of all of the Registrable Securities which the Company has been so requested to
register by such holder, to the extent requisite to permit the disposition of the Registrable Securities so to be registered, by
inclusion of such Registrable Securities in the registration statement which covers the securities which the Company proposes to
register; provided, however, that if, at any time after giving written notice of its intention to register any securities
and prior to the effective date of the registration statement filed in connection with such registration, the Company shall determine
for any reason in its sole discretion either to not register, to delay or to withdraw registration of such securities, the Company
may, at its election, give written notice of such determination to such holder and, thereupon: (i) in the case of a determination
not to register, shall be relieved of its obligation to register any Registrable Securities in connection with such registration
(but not from its obligation to pay the Registration Expenses in connection therewith), (ii) in the case of a determination to
delay registration, shall be permitted to delay registering any Registrable Securities for the same period as the delay in registering
such other securities (including the Other Shares), and (iii) in the case of a determination to withdraw registration, shall be
permitted to withdraw registration.

 

c) Underwritten Offerings.
If the Company at any time proposes to register any of its securities under the Securities Act as contemplated by this Section
5 and such securities are to be distributed by or through one or more underwriters, the Company will, if requested by a holder
of Registrable Securities pursuant to Section 5(b), use its commercially reasonable efforts to arrange for such underwriters to
include all the Registrable Securities to be offered and sold by such holder among the securities to be distributed by such underwriters,
provided that if the managing underwriter of such underwritten offering shall inform the Company in writing of its belief that
inclusion in such distribution of all or a specified number of such securities proposed to be distributed by such underwriters
would interfere with the successful marketing of the securities being distributed by such underwriters (such letter to state the
basis of such belief and the approximate number of such Registrable Securities, such Other Shares and shares held by the Company
proposed so to be registered which may be distributed without such effect), then the Company may, upon written notice to such holder,
the other holders of Registrable Securities, and holders of such Other Shares, reduce pro rata in accordance with the number of
shares of Company common stock desired to be included in such registration (if and to the extent stated by such managing underwriter
to be necessary to eliminate such effect) the number of such Registrable Securities and Other Shares the registration of which
shall have been requested by each holder thereof so that the resulting aggregate number of such Registrable Securities and Other
Shares so included in such registration, together with the number of securities to be included in such registration for the account
of the Company, shall be equal to the number of shares stated in such managing underwriter’s written notice to the Company
described above.

 

 

    	 	Ex. A-10	 

    	 

     

 

d) Registration Procedures.
Whenever the holders of Registrable Securities have properly requested that any Registrable Securities be registered pursuant to
the terms of this Warrant, the Company shall use its commercially reasonable efforts to effect the registration and the sale of
such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company shall
as expeditiously as possible:

 

i. prepare and
file with the Commission a registration statement with respect to such Registrable Securities and use its Reasonable Best Efforts
to cause such registration statement to become effective;

 

ii. notify such
holders of the effectiveness of each registration statement filed hereunder and prepare and file with the Commission such amendments
and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to (i) keep
such registration statement effective and the prospectus included therein usable for a period commencing on the date that such
registration statement is initially declared effective by the Commission and ending on the date when all Registrable Securities
covered by such registration statement have been sold pursuant to the registration statement or cease to be Registrable Securities,
and (ii) comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration
statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration
statement;

 

iii. furnish
to such holders such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included
in such registration statement (including each preliminary prospectus) and such other documents as such seller may reasonably request
in order to facilitate the disposition of the Registrable Securities owned by such holders;

 

iv. use its Reasonable
Best Efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions
as such holders reasonably request and do any and all other acts and things which may be reasonably necessary or advisable to enable
such holders to consummate the disposition in such jurisdictions of the Registrable Securities owned by such holders; provided,
however, that the Company shall not be required to: (i) qualify generally to do business in any jurisdiction where it would
not otherwise be required to qualify but for this subparagraph; (ii) subject itself to taxation in any such jurisdiction; or (iii)
consent to general service of process in any such jurisdiction;

 

v. notify such
holders, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening
of any event as a result of which the prospectus included in such registration statement contains an untrue statement of a material
fact or omits any material fact necessary to make the statements therein, in light of the circumstances in which they are made,
not materially misleading, and, at the reasonable request of such holders, the Company shall prepare a supplement or amendment
to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not
contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in
light of the circumstances in which they are made, not materially misleading;

 

 

    	 	Ex. A-11	 

    	 

     

 

vi. otherwise
use its commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make available
to its security holders, as soon as reasonably practicable, an earnings statement of the Company, which earnings statement shall
satisfy the provisions of Section 11(a) of the Securities Act and, at the option of the Company, Rule 158 thereunder; and

 

vii. in the event
of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing
the use of any related prospectus or suspending the qualification of any Registrable Securities included in such registration statement
for sale in any jurisdiction, the Company shall use its commercially reasonable efforts promptly to obtain the withdrawal of such
order.

 

e) Listing. The
Company shall secure the listing of the Warrant Shares upon each Trading Market upon which shares of Common Stock are then listed
or quoted (subject to official notice of issuance) and shall maintain such listing of shares of Common Stock.

 

f) Expenses. The
Company shall pay all Registration Expenses relating to the registration and listing obligations set forth in this Section 5. For
purposes of this Warrant, the term “Registration Expenses” means: (i) all registration, filing and Financial
Industry Regulatory Authority fees, (ii) all reasonable fees and expenses of complying with securities or blue sky laws, (iii)
all EDGAR, duplicating and printing expenses, (iv) the fees and disbursements of counsel for the Company and of its independent
public accountants, including the expenses of any special audits or “cold comfort” letters required by or incident
to such performance and compliance, (v) premiums and other costs of policies of insurance (if any) against liabilities arising
out of the public offering of the Registrable Securities being registered if the Company desires such insurance, if any, and (vi)
fees and disbursements of one counsel for the selling holders of Registrable Securities. Registration Expenses shall not include
any underwriting discounts and commissions which may be incurred in the sale of any Registrable Securities and transfer taxes of
the selling holders of Registrable Securities.

 

g) Information Provided
by Holders. As a condition to the Company’s obligations to effect any registration of the Registrable Securities under
this Section 5, any holder of Registrable Securities included in any such registration shall furnish to the Company such information
as the Company may reasonably request in writing to enable the Company to comply with the provisions hereof in connection with
any registration referred to in this Warrant.

 

h) Effectiveness Period.
The Company shall use its commercially reasonable efforts to keep each registration statement contemplated hereunder continuously
effective under the Securities Act until the date which is the earlier date of when (i) all Registrable Securities covered by such
Registration Statement have been sold or (ii) all Registrable Securities covered by such Registration Statement may be sold immediately
without registration under the Securities Act and without volume restrictions pursuant to Rule 144, as determined by the counsel
to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the Company’s
transfer agent and the affected holders of Registrable Securities.

 

Section 6. Miscellaneous.

 

a) No Rights as Stockholder
Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a stockholder of
the Company prior to the exercise hereof as set forth in Section 2(d)(i).

 

b) Loss, Theft, Destruction
or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it
of the loss, theft, destruction or mutilation of this Warrant or any certificate relating to the Warrant Shares, and in case of
loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not
include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company
will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant
or stock certificate.

 

 

    	 	Ex. A-12	 

    	 

     

 

c) Saturdays, Sundays,
Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall not be a Trading Day, then, such action may be taken or such right may be exercised on the next succeeding Trading
Day.

 

d) Authorized Shares.

 

i. The Company
covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient
number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant.
The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. 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, or of any requirements of the Trading Market upon which the Common Stock may be
listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented
by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance
herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by
the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such
issue).

 

ii. Except and
to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending
its certificate of incorporation 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 of this
Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions
as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting
the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable
therefor upon such exercise immediately prior to such increase in par value, (ii) 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 (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory
body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

 

iii. Before taking
any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the
Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary
from any public regulatory body or bodies having jurisdiction thereof.

 

e) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance
with the provisions of the underwriting agreement, dated _______________, 2018, by and between the Company and ThinkEquity, a division
of Fordham Financial Management Inc., as representative of the underwriters set forth therein (the “Underwriting Agreement”).

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver and Expenses.
No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of
such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant
or the Underwriting Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which
results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover
any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies
hereunder.

 

 

    	 	Ex. A-13	 

    	 

     

 

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

 

i) Limitation of Liability.
No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares,
and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase
price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors
of the Company.

 

j) Remedies. The
Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to
specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert
the defense in any action for specific performance that a remedy at law would be adequate.

 

k) Successors and Assigns.
Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit
of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder.
The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be
enforceable by the Holder or holder of Warrant Shares.

 

l) Amendment. This
Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

m) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

n) Headings. The
headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
Warrant.

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

 

	 	MR2 GROUP, INC.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Representative’s Warrant]

 

    	 	Ex. A-14	 

    	 

     

NOTICE OF EXERCISE

 

	To:	MR2 GROUP, INC.

 

(1) The undersigned hereby
elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full),
and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take the
form of (check applicable box):

 

[  ] in lawful money of
the United States; or

 

[  ] if permitted the cancellation
of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this
Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth
in subsection 2(c).

 

(3) Please register and issue
said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to the
following DWAC Account Number or by physical delivery of a certificate to:

 

_______________________________

 

_______________________________

 

_______________________________

 

(4) Accredited Investor.
If the Warrant is being exercised via cash exercise, the undersigned is an “accredited investor” as defined in Regulation
D promulgated under the Securities Act of 1933, as amended

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

    	 	Ex. A-15	 

    	 

     

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, [____]
all of or [_______] shares of the foregoing Warrant and all rights evidenced thereby are hereby assigned to _______________________________________________________
whose address is _______________________________________________________________________________.

 

Dated: ______________,
_______

 

Holder’s Signature: _____________________________

 

Holder’s Address: _____________________________

 

_____________________________

 

NOTE: The signature to this Assignment Form
must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever.
Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority
to assign the foregoing Warrant.

 

    	 	Ex. A-16EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
AGREEMENT is made on the _____ day of ______________, 2018, between MR2 GROUP, INC. (the “Company”), and
JAMES T. MEDICK (the “Executive”).

 

WHEREAS,
the Executive currently serves as the Chief Executive Officer, President and Chairman of the Company; and

 

WHEREAS,
the Company desires to employ the Executive as the Chief Executive Officer, President and Chairman of the Company under the terms
and conditions set forth in this Agreement; and

 

WHEREAS,
the Executive desires to serve the Company as the Chief Executive Officer, President and Chairman under the terms and conditions
set forth in this Agreement.

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements set forth herein and intending to be legally bound hereby,
the parties agree as follows:

 

1.
DEFINITIONS. The following definitions shall apply in this Agreement:

 

(a)
“Anniversary Date” shall mean the first anniversary of the Effective Date, and the anniversary of the Effective Date
of each successive year.

 

(b)
“Annual Salary” shall be the stated base cash compensation defined in Section 5(a) without regard to any elective
deferral or salary reduction plan or program of the Company.

 

(c)
“Board of Directors” shall mean the Board of Directors of the Company, as constituted from time to time.

 

(d)
“Cause” shall mean that the Executive (i) continuously failed or refused to substantially perform assigned job duties
and responsibilities, other than any such failure resulting from the Executive’s incapacity due to physical or mental illness;
(ii) failed to abide by Company policies, standards and procedures as may be established from time to time; (iii) engaged in fraudulent
conduct; (iv) engaged in dishonesty with respect to the Company’s assets or business; (v) is convicted of a felony or other
crime that affects the Executive’s suitability for employment; (vi) engages in conduct which is reasonably considered to
be detrimental to the Company’s reputation, character or standards within the local community or the industry in general;
or (vii) engaged in gross negligent or willful misconduct relating to the business of the Company. The determination of the existence
of Cause shall be made in the reasonable judgment of the Board of Directors.

 

    	 	 	 

     

    

 

(e) “Change in Control”
shall mean:

 

(i)
The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange
Act of 1934, as amended, the “Act”) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under the Act) of fifty percent (50%) or more of either (1) the then outstanding shares of the Company (the “Outstanding
Company Shares”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote
generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for
purposes of this Subsection (a), the following acquisitions shall not constitute a Change in Control: (A) any acquisition directly
from the Company; (B) any acquisition by the Company; (C) any acquisition by any employee benefit plan (or related trust) sponsored
or maintained by the Company or any corporation controlled by the Company; or (D) any acquisition pursuant to a transaction which
complies with clauses (1), (2) and (3) of Subsection (iii) below; or

 

(ii)
Approval by the shareholders of the Company of a complete liquidation or dissolution of the Company; or

 

(iii)
Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets
of the Company or the acquisition of assets of another entity (each, a “Corporate Transaction”), in each case, unless,
following such Corporate Transaction, (1) all or substantially all of the individuals and entities who were the beneficial owners,
respectively, of the Outstanding Company Shares and Outstanding Company Voting Securities immediately prior to such Corporate
Transaction beneficially own, directly or indirectly, more than fifty percent (50%) of, respectively, the then outstanding shares
and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors,
as the case may be, of the corporation or other entity resulting from such Corporate Transaction (including, without limitation,
a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior
to such Corporate Transaction of the Outstanding Company Shares and Outstanding Company Voting Securities, as the case may be,
(2) no Person (excluding any employee benefit plan or related trust of the Company or such corporation resulting from such Corporate
Transaction) beneficially owns, directly or indirectly, twenty percent (20%) or more of, respectively, the then outstanding shares
of the corporation resulting from such Corporate Transaction or the combined voting power of the then outstanding voting securities
of such corporation except to the extent that such ownership of the Company existed prior to the Corporate Transaction and (3)
at least a majority of the members of the board of directors of the corporation (or other governing board of a non-corporate entity)
resulting from such Corporate Transaction were members of the Incumbent Board at the time of the execution of the initial agreement,
or of the action of the Board, providing for such Corporate Transaction; or

 

(iv)
Individuals who, as of the Effective Date, constitute the Board of Directors (the “Incumbent Board”) cease for any
reason to constitute at least a majority of the Board of Directors; provided, however, that any individual becoming a director
subsequent to the Effective Date whose election, or nomination for election by the Company’s shareholders, was approved
by a vote of at least two-thirds (2⁄3) of the directors then comprising the Incumbent Board shall be considered as though
such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption
of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors
or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board of Directors.

 

    	 	2	 

     

    

 

(f)
“Code” shall mean the Internal Revenue Code of 1986, as amended.

 

(g)
“Disability” shall mean a permanent disability within the meaning of the long-term disability insurance plan maintained
by the Company.

 

(h)
“Effective Date” shall mean the effective date of the Company’s Initial Public Offering.

 

(i)
“Good Reason” shall mean (i) a reduction in the Executive’s Annual Salary or his total cash compensation opportunities
or benefits (except any reduction in compensation which may be broadly applied among senior executives because of adverse financial
conditions of the Company or as part of a restructuring of the Company executive compensation program); (ii) an elimination of
the Executive’s position where he is not offered a comparable position within thirty (30) calendar days following the Effective
Date of the elimination of the position or a significant lessening of the Executive’s job responsibilities, a demotion of
the Executive or an unacceptable relocation of the Executive (defined as an increase of fifty (50) miles or more from his current
commute); or (iii) the Company’s decision not to renew this Agreement.

 

2.
TERM OF AGREEMENT; RENEWAL. This Agreement shall initially be effective for a three-year term beginning on the Effective
Date and ending on the day before the third anniversary thereof. The term of this Agreement will automatically renew on the initial
Anniversary Date and on each subsequent Anniversary Date for an additional three-year period unless, at least ninety (90) days
prior to the first Anniversary Date within the then current term, either party shall give written notice of nonrenewal to the
other, in which event this Agreement shall terminate at the end of the three-year period then in effect. For example, assuming
the initial contract period commences on June 1, 2018, it shall continue through May 31, 2021. On June 1, 2019, the term of this
Agreement extends to May 31, 2022. On June 1, 2020, the term of this Agreement extends to May 31, 2023 unless one of the parties
provides a written notice of intent not to renew the Agreement at least 90 days prior to June 1, 2020.

 

3.
POSITION AND DUTIES. The Executive shall serve as the Chief Executive Officer, President and Chairman reporting to the
Board of Directors and shall perform the duties and responsibilities of that office, and shall have such other powers and duties
as may from time to time be prescribed by the Board of Directors, provided that such duties are consistent with the position of
a Chief Executive Officer.

 

4.
ENGAGEMENT IN OTHER EMPLOYMENT. The Executive shall devote substantially all his working time, ability and attention to
the business of the Company during the term of this Agreement; provided, however, that this Section 4 shall not be construed as
preventing Executive from (a) engaging in activities incident or necessary to personal investments, (b) acting as a member of
the board of directors of any non-profit association or corporation, (c) serving as a compensated employee, officer and/or director
of any affiliate of the Company or (d) being involved in any other business activity with the prior approval of the Board of Directors.
Under no circumstances may the Executive engage in any business or commercial activities, duties or pursuits which compete with
the business or commercial activities of the Company.

 

    	 	3	 

     

    

 

5.
COMPENSATION.

 

(a)
ANNUAL SALARY. For services rendered under this Agreement, the Executive shall be entitled to receive as base compensation
an Annual Salary at an initial rate of $325,000 per year. The Executive’s Annual Salary shall be reviewed thereafter by
the Board of Directors at least once annually and may be adjusted at the discretion of the Board of Directors in accordance with
the Company’s then-current compensation policies and practices and other factors deemed relevant by the Board of Directors;
provided, that at no time shall the Annual Salary be less than the Executive’s Annual Salary in the prior calendar year
(except any reductions in compensation which may be applied broadly among all senior executives because of adverse financial conditions
for the Company or as part of a restructuring of the Company executive compensation program). Annual Salary shall be subject to
withholding and other applicable taxes and payroll deductions and payable in substantially equal bi-weekly installments or such
other more frequent intervals as may be determined by the Company as payroll policy for senior executives.

 

(b)
INCENTIVE COMPENSATION. The Executive shall be eligible for annual incentive awards under and in accordance with the terms
of any incentive bonus plan that may be established by the Company for the benefit of the Executive (or senior executives generally),
based on achievement of performance goals and other criteria set forth in such incentive plan.  In addition, the Executive will
be eligible to participate in any stock option, stock bonus, and/or other equity compensation plans maintained by the Company.

 

(c)
ACQUISITION BONUS. Within thirty (30) days of the closing date of an acquisition by the Company, the Executive shall receive
a lump sum payment equal to the net amount set forth below based upon Target Annual Revenue, consisting of fifty percent (50%)
in cash, fifty percent (50%)in Company stock (the number of shares of which shall be determined by the value of the Company on
the closing date of the transaction giving rise to the payment) and an additional cash bonus to serve as a gross up payment to
cover all federal, state and/or local income taxes on the Company stock. For purposes of this Section 5(c), Target Annual Revenue
means the annual revenue reflected in the audited financial statements for the most recent completed fiscal year of the target
entity acquired by the Company.

 

	Target
    Annual Revenue	 	Payment
	<
    $10,000,000	 	$50,000
    cash / $50,000 stock
	$10,000,000
    - $20,000,000	 	$75,000
    cash / $75,000 stock
	>
    $20,000,000	 	$100,000
    cash / $100,000 stock

 

    	 	4	 

     

    

 

6.
BENEFITS, VACATION TIME, EXPENSES AND PERQUISITES.

 

(a)
EMPLOYEE BENEFIT PLANS. During the term of this Agreement, the Executive shall be entitled to participate in all employee
benefit plans made available from time to time by the Company to its senior executives, including, but not limited to, pension,
401(k), supplemental retirement income, stock option, medical and health-and-accident plans and arrangements, subject to and on
a basis consistent with the terms and conditions of, and the Company rules and regulations pertaining to such plans and arrangements,
and any limitations or qualifications imposed by any applicable governmental body.

 

(b)
VACATION. During the term of this Agreement, the Executive shall be entitled to the number of vacation days in each calendar
year determined by the Company from time to time for its senior executives; provided, however, that the number of days of vacation
in any calendar year shall not be less than five (5) weeks. Such entitlement shall be subject to all rules and policies concerning
vacation as shall be applicable to all employees from time to time. The Executive shall also be entitled to all paid holidays
given by the Company to its employees.

 

(c)
AUTOMOBILE AND HEALTH ALLOWANCE. During the term of this Agreement, the Executive shall be provided with an automobile
allowance of up to $2,000 a month. The Executive shall also be provided with a health club membership of his choosing and concierge
physician services of his choosing; provided, however, that the total amount available to the Executive pursuant to this Section
6(c) (including the automobile allowance) shall not exceed $30,000 per year.

 

(d)
LIFE INSURANCE. The Company shall provide the Executive with a whole life insurance policy on the Executive’s life
with a face value of $3,000,000 with respect to which the Executive shall be the owner with the sole power to designate a beneficiary
of the policy’s proceeds. The Company shall pay the premiums for the policy either directly to the insurer or as a reimbursement
to the Executive. The Company shall also pay the Executive a cash bonus annually in such amount as is required to cover the federal,
sate and/or local income tax liability associated with the premium payments.

 

(e)
BUSINESS TRAVEL. To the extent the Executive is required to utilize air travel for any business-related activities and/or
functions, the Executive will be afforded business class accommodations for any air travel that is scheduled to be of two or more
hours in duration.

 

(f)
REIMBURSABLE GENERAL EXPENSES. During the term of this Agreement, the Executive shall be entitled to receive prompt reimbursement
for all reasonable expenses incurred by him (in accordance with the policies and procedures established from time to time by the
Company for its senior executives) in performing services hereunder, provided that the Executive first properly accounts therefore
in accordance with such policies and procedures.

 

(g)
FINANCIAL ADVISOR. During the term of this Agreement, the Executive may meet with the financial/tax advisor of his choice
up to twice annually and the professional fees associated with such meetings shall be paid by the Company.

 

    	 	5	 

     

    

 

(h)
MISCELLANEOUS. The Executive shall be entitled to receive such other perquisites, e.g. cell phones, club memberships and
other “fringe benefits”, as the Board of Directors shall deem appropriate, in its sole direction.

 

7.
INDEMNIFICATION. The Company shall indemnify the Executive to the fullest extent permitted in accordance with Nevada law
and the terms of the Company’s policy relating to the indemnification of officers, directors, employees and committee members.
The Executive’s right to indemnification provided herein is not exclusive of any other rights of indemnification to which
the Executive may be entitled under any bylaw, agreement, vote of shareholders or otherwise and shall continue beyond the term
of this Agreement. The Company shall use its best efforts to obtain insurance coverage for the Executive under an insurance policy
covering officers and directors of the Company against lawsuits, arbitrations or other proceedings; however, nothing herein shall
be construed as to require the Company to obtain such insurance if the Board of Directors determines that such coverage cannot
be obtained at a commercially reasonable price.

 

8.
UNAUTHORIZED DISCLOSURE. During the term of this Agreement or at any later time, the Executive shall not, without the written
consent of a duly authorized executive officer of the Company, disclose to any person (including an employee of the Company or
a subsidiary of the Company), other than a person to whom disclosure is reasonably necessary or appropriate in connection with
the performance by the Executive of his duties as an executive of the Company, any material confidential information obtained
by him while in the employ of the Company or operating unit with respect to any of the services, products, improvements, formulas,
designs or styles, processes, trade secrets, customers, methods of distribution or business practices (the “Confidential
Information”), the disclosure of which reasonably would be expected to materially damage the Company; provided, however,
that for purposes of this Agreement, Confidential Information shall not include information disclosed to the Executive’s
personal advisors incident to the Executive’s personal affairs, any information known generally to the public (other than
as a result of unauthorized disclosure by the Executive) or any information of a type not otherwise considered confidential by
persons engaged in the same business or a business similar to that conducted by the Company. Upon the termination of the Executive’s
employment with the Company, for whatever reason, the Executive shall immediately return to the Company all originals and copies
of any and all documents containing any Confidential Information.

 

The
Executive agrees that any and all ideas, including but not limited to, computer software programs, inventions, processes, new
methods of processing/production, reports or other work products and materials created or generated during the Executive’s
employment by the Company shall become and remain the sole and exclusive property of the Company. The Executive further agrees
that the Executive will have no interest in the Confidential Information of the Company, including without limitation, no interest
in the know-how, copyright, trademarks or trade names, notwithstanding the fact that the Executive may have created or contributed
to the Confidential Information. The Executive waives any rights that the Executive may have with respect to the Confidential
Information. The Executive agrees to immediately disclose to the Company all Confidential Information developed in whole or in
part by the Executive during the Executive’s term of employment with the Company and to assign to the Company any right,
title, or interest the Executive may have in the Confidential Information. The Executive agrees to execute any instruments and
do all other things reasonably requested by the Company, both during and after the Executive’s employment with the Company,
in order to vest more fully in the Company all ownership rights in those items transferred by the Executive to the Company.

 

    	 	6	 

     

    

 

9.
RESTRICTIVE COVENANTS.

 

(a)
NONCOMPETITION. The Executive shall not, directly or indirectly, within the United States of America, enter into or engage
generally in direct or indirect competition with the Company in the business of market research data collection, surveys, and
related analytical and consulting services, either directly or indirectly as an individual on his own or as a partner or joint
venturer, or as a director, officer, shareholder (except as an incidental shareholder), employee or agent for any person, for
a period of three (3) years after the date of termination of his employment, except where the termination occurs in conjunction
with a Change in Control as described in Section 12(c) . The existence of any material claim or cause of action of the Executive
against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the
Company of this covenant. The Executive acknowledges and agrees that enforcement of this covenant not to compete will not prevent
him from earning a livelihood and that any breach of the restrictions set forth in this paragraph will result in irreparable injury
to the Company for which it shall have no adequate remedy at law, and that therefore the Company shall be entitled to injunctive
relief in order to enforce the provisions hereof. In the event that this paragraph shall be determined by any court of competent
jurisdiction to be unenforceable in part by reason of it being too great a period of time or covering too great a geographical
area, it shall be in full force and effect as to that period of time or geographical area determined to be reasonable by the court.

 

(b)
RETURN OF MATERIALS. Upon termination of employment with the Company for any reason, including a termination of employment
in conjunction with a Change in Control as described in Section 12(c), the Executive shall immediately deliver to the Company
all correspondence, manuals, letters, notes, notebooks, reports and any other documents and tangible items containing or constituting
confidential information about the Company maintained at his office and shall promptly deliver all said materials held by him
at other locations.

 

(c)
NONSOLICITATlON OF EMPLOYEES. The Executive shall not entice or solicit, directly or indirectly, any other executives or
key management personnel of the Company to leave the employ of the Company to work with the Executive or any entity with which
the Executive has affiliated for a period of three (3) years following the Executive’s termination of employment with the
Company for any reason, including a termination of employment in conjunction with a Change in Control as described in Section
12(c).

 

(d)
NONSOLICITATION OF CUSTOMERS. The Executive shall not entice or solicit, directly or indirectly, any client or customer
of the Company for a period of three (3) years following the Executive’s termination of employment with the Company for
any reason, including a termination of employment in conjunction with a Change in Control as described in Section 12(c).

 

    	 	7	 

     

    

 

(e)
ASSIGNMENT AND SUCCESSORS. The parties to this Agreement acknowledge that the covenants and terms of this Agreement are
intended to benefit not only the Company but its successors, subsidiaries and affiliates as well. Therefore, the Executive agrees
that this Agreement may be assigned by the Company to any person, partnership, corporation or other entity which purchases the
Company or is purchased by the Company, as well as to any subsidiary or affiliate of the Company. These persons and entities shall
succeed to the rights and obligations of this Agreement and may enforce the terms of this Agreement in his/its own behalf or in
the name of the Company. The Executive may not assign his obligations under this Agreement to any other party.

 

10.
REMEDY. The Executive acknowledges and agrees that any breach of the restrictions set forth in Sections 8 and 9 will result
in irreparable injury to the Company for which it may have no meaningful remedy in law and the Company shall be entitled to injunctive
relief in order to enforce provisions hereof. Upon obtaining such injunction, the Company shall be entitled to pursue reimbursement
from the Executive and/or the Executive’s employer of costs incurred in securing a qualified replacement for any employee
enticed away from the Company by the Executive. Further, the Company shall be entitled to set off against or obtain reimbursement
from the Executive of any payments owed or made to the Executive by the Company hereunder.

 

11.
TERMINATION.

 

(a)
VOLUNTARY TERMINATION OR DEATH. The Executive’s employment hereunder shall terminate upon his voluntary termination
(including retirement but other than for Good Reason) or death. The Executive shall provide the Company with at least sixty (60)
days’ advance written notice of his voluntary termination (other than for Good Reason).

 

(b)
TERMINATION DUE TO DISABILITY. If the Executive incurs a Disability, the Company shall have the option to terminate this
Agreement by giving written notice of termination to the Executive. The termination of this Agreement by the Company pursuant
to this Section 11(b) shall not constitute a decision by the Company not to renew this Agreement pursuant to Section 1(i)(iii).

 

(c)
TERMINATION FOR CAUSE. The Company may terminate the Executive’s employment hereunder for Cause.

 

(d)
TERMINATION BY EXECUTIVE UPON GOOD REASON. The Executive may terminate his employment for Good Reason. The Executive must
provide written notice to the Company of his termination of employment for Good Reason within ninety (90) calendar days of the
occurrence of the event constituting Good Reason. The Company shall have thirty (30) calendar days from the date of its receipt
of such notice to cure or remedy the condition.

 

    	 	8	 

     

    

 

12.
PAYMENTS UPON TERMINATION.

 

(a)
If the Executive’s employment shall be terminated because of voluntary termination by Executive (including retirement but
other than for Good Reason), death, Disability or for Cause, the Company shall pay the Executive or his guardian or estate his
pro rata Annual Salary through the date of termination at the rate in effect at the time of termination and any other amounts
owing to Executive at the date of termination. Further, should termination occur because of retirement, death or Disability, the
Company may elect to pay the Executive, or his guardian or estate, at the end of the fiscal year in which the termination occurred,
a prorated award under any incentive bonus plan in which the Executive participates. Other than as specifically set forth herein,
the Company shall have no obligation to provide payments of benefits beyond what the Executive (or his beneficiary) is entitled
to under the terms and conditions of the various compensation and benefit plans and arrangements maintained by the Company.

 

(b)
If (i) the Executive’s employment is terminated by the Company other than for the reasons or circumstances set forth under
Sections 11(a), (b) or (c) hereof or (ii) if the Executive terminates his employment within 90 calendar days following the occurrence
of any of the events constituting Good Reason, then the Company shall continue to pay the Executive his Annual Salary bi-weekly
pursuant to the Company’s regular payroll practices for a period (the “Payment Period”) commencing on the effective
date of the Executive’s termination of employment (the “Termination Date”) and ending on the second anniversary
of the Termination Date. In addition, the Company shall also maintain in full force and effect (and the Executive shall remain
a participant in), for the duration of the Payment Period (or until the Executive’s death, if earlier), all disability,
medical and health and accident plans and arrangements to which the Executive was entitled prior to the date of termination, if
the Executive’s continued participation is permitted under the general terms and conditions and rules and regulations of
such plans and arrangements. During such period of continued participation, the Executive shall remain subject to the same cost
sharing requirements as are applicable to all Senior Executives. If the Executive’s participation in any health and accident,
medical, or disability plan or arrangement is barred, the Company shall use its best efforts to obtain and pay for, on Executive’s
behalf, individual insurance plans, policies or programs which provide to Executive health, medical, and disability insurance
coverage which is equivalent to the insurance coverage to which Executive was entitled prior to the date of termination. In addition,
any and all outstanding stock options and/or other Company equity awards or grants held by the Executive shall become immediately
vested and exercisable.

 

(c)
In the event the Executive’s employment is terminated by the Company within twelve (12) months following a Change in Control,
then the Company shall continue to pay the Executive his Annual Salary bi-weekly pursuant to the Company’s regular payroll
practices for a period (the “Payment Period”) commencing on the effective date of the Executive’s termination
of employment (the “Termination Date”) and ending on the third anniversary of the Termination Date. In addition, the
Company shall also maintain in full force and effect (and the Executive shall remain a participant in), for the duration of the
Payment Period (or until the Executive’s death, if earlier), all disability, medical and health and accident plans and arrangements
to which the Executive was entitled prior to the date of termination, if the Executive’s continued participation is permitted
under the general terms and conditions and rules and regulations of such plans and arrangements. During such period of continued
participation, the Executive shall remain subject to the same cost sharing requirements as are applicable to all Senior Executives.
If the Executive’s participation in any health and accident, medical, or disability plan or arrangement is barred, the Company
shall use its best efforts to obtain and pay for, on Executive’s behalf, individual insurance plans, policies or programs
which provide to Executive health, medical, and disability insurance coverage which is equivalent to the insurance coverage to
which Executive was entitled prior to the date of termination. In addition, any and all outstanding stock options and/or other
Company equity awards or grants held by the Executive shall become immediately vested and exercisable.

 

    	 	9	 

     

    

 

(d)
If termination occurs as a result of expiration of the Agreement, the Executive will not be entitled to receive any severance
payments or continuation of benefit coverages except as provided under law. The Executive will be permitted to exercise vested
options and/or other equity grants or awards as prescribed in the agreements governing those options, grants and/or other awards.

 

13.
DAMAGES FOR BREACH OF CONTRACT. In the event of a breach of this Agreement by either the Company or Executive resulting
in damages to either party, that party may recover from the party breaching the Agreement any and all damages that may be sustained.

 

14.
NOTICE. For the purposes of this Agreement, notices and all other communications shall be in writing and shall be deemed
to have been duly given when delivered or mailed by United States certified mail, return receipt requested, postage prepaid, addressed
as follows:

 

	 	If
    to the Executive:	James
    T. Medick
	 	 	2482
    Hollow Rock Ct.
	 	 	Las
    Vegas, NV 89135
	 	 	 
	 	If
    to the Company:	MR2
    Group, Inc.
	 	 	Attn:
    Gary E. Stein, Esq.
	 	 	101
    Convention Center Drive, Plaza 125
	 	 	Las
    Vegas, Nevada 89109

 

or
to such other address as either party may have furnished to the other in writing in accordance herewith, except that notices of
change of address shall be effective only upon actual receipt.

 

15.
BINDING EFFECT. This Agreement shall inure to the benefit of and be binding upon the Executive and his heirs and personal
representatives, and the Company and any successor to the Company.

 

    	 	10	 

     

    

 

16.
ENFORCEMENT OF SEPARATE PROVISIONS. Should any provision of this Agreement be ruled unenforceable for any reason, the remaining
provisions of this Agreement shall be unaffected thereby and shall remain in full force and effect.

 

17.
SUCCESSOR LIABILITY. The Company shall require any subsequent 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 assume expressly and to
agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if
no such succession had taken place. The Company’s failure to do so will be a breach of this Agreement.

 

18.
AMENDMENT. This Agreement may be amended by mutual agreement of the parties in writing without the consent of any other
person.

 

19.
ARBITRATION. In the event that any disagreement or dispute shall arise between the parties concerning this Agreement, the
issue(s) will be submitted to binding arbitration in Clark County, Nevada pursuant to the National Rules for the Settlement of
Employment Disputes then in effect of the American Arbitration Association. Any award entered shall be final and binding upon
the parties hereto and judgment upon the award may be entered in any court having jurisdiction thereof. Attorneys’ fees
and administrative court costs associated with such actions shall be paid by the Company.

 

20.
NO MITIGATION. The Executive shall not be required to mitigate the amount of any payment provided for in this Agreement
by seeking employment or otherwise, nor will any amounts or benefits payable or provided hereunder be reduced in the event that
he does secure employment, except as otherwise provided herein.

 

21.
PAYMENT OF MONEY DUE DECEASED EXECUTIVE. If the Executive dies prior the expiration of his term of employment hereunder,
any moneys that may be due him from the Company under this Agreement as of the date of death shall be paid to the executor, administrator,
or other personal representative of the Executive’s estate.

 

22.
LAW GOVERNING. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without
giving effect to any conflict of laws provisions.

 

23.
CAPTIONS; PRONOUNS. All captions are for convenience only and do not form a substantive part of this Agreement. All pronouns
and any variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the identity of
the person or persons may require.

 

24.
ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between the parties with respect to its subject matter
and constitutes and supersedes all prior agreements, representations and understandings of the parties, written or oral.

 

    	 	11	 

     

    

 

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

 

	ATTEST:	 	MR2 GROUP, INC.
	 	 	 	 
	 	 	By:	         
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	WITNESS:	 	JAMES T. MEDICK
	 	 	 
	 	 	 

 

    	 	12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00285-of-00352.parquet"}]]