Document:

EX-10.3

 Exhibit 10.3 

EXECUTION VERSION 
 MANAGEMENT
ADVISORY SERVICES AGREEMENT 
 This MANAGEMENT ADVISORY SERVICES AGREEMENT is made as of this 24th day of January, 2014, by and among
PSAV Holdings LLC, a Delaware limited liability company (“PSAV Holdings”), PSAV Intermediate Corp., a Delaware corporation (“PSAV Intermediate”) and AVSC Holding Corp., a Delaware corporation
(“AVSC”) and, together with PSAV Intermediate and its direct and indirect subsidiaries, the “Companies” and each, a “Company”), Olympus Advisors LLC (“Olympus”) and Goldman,
Sachs & Co. (“Goldman”) (each of Olympus and Goldman an “Advisor” and collectively, the “Advisors”). 

W I T N E S S E T H: 

WHEREAS, Affiliates of the Advisors are members of PSAV Holdings; 

WHEREAS, the Companies desire to retain the Advisors to provide business and organizational strategy, financial and advisory services to the
Companies and their direct and indirect subsidiaries upon the terms and conditions hereinafter set forth, and the Advisors are willing to undertake such obligations; 

NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth, the parties agree as follows: 

1. Appointment. The Companies hereby engage the Advisors, and each Advisor severally and not jointly hereby agrees, upon the terms and
subject to the conditions set forth herein, to provide certain services to the Companies and their direct and indirect subsidiaries as described in Section 3 hereof. 

2. Term. The term of this Agreement (the “Term”) shall be for an initial term commencing on the date hereof and
expiring December 31, 2024. Such term shall be renewed automatically for additional one-year terms thereafter unless the Advisors or the Companies shall give notice in writing within thirty (30) days before the expiration of the initial
term or any one-year renewal thereof of its desire to terminate this Agreement. The rights and obligations of an Advisor under this Agreement shall automatically terminate if Affiliates of such Advisor cease to own in aggregate at least 5% of the
outstanding Class A Units of PSAV Holdings. If either Advisor gives notice of non-renewal pursuant to the second sentence of this Section 2 or the rights and obligations of either Advisor are terminated pursuant to the third
sentence of this Section 2, then the term of this Agreement shall nevertheless be renewed with respect to the other Advisor and the annual fee payable pursuant to Section 5(b) to the terminating Advisor shall thereafter be
payable to the remaining Advisor. The provisions of Section 6 shall survive the termination of this Agreement. “Class A Units” shall have the meaning ascribed to it in the amended and restated limited liability company
agreement of PSAV Holdings, dated as of the date hereof, among the parties thereto, as the same may be amended from time to time (the “LLC Agreement”). 

3. Duties of the Advisors. Each Advisor shall provide the Companies and their direct and indirect subsidiaries with such services for
the Companies and their direct and indirect subsidiaries as mutually agreed by the Advisors and PSAV Holdings’ board of managers, which may include, without limitation, business and organizational strategy, financial

 
and advisory services (collectively, the “Services”). The fees and other compensation specified in this Agreement will be payable by the Companies regardless of the extent of
Services requested by the Companies pursuant to this Agreement, and regardless of whether or not the Companies request the Advisors to provide any such Services. 

3.1. Exclusions from “Services”. Notwithstanding anything in the foregoing to the contrary, the following services are
specifically excluded from the definition of “Services”: 
 (a) Independent Accounting Services. Accounting services
rendered to the Companies, their direct or indirect subsidiaries, or the Advisors with respect to the Companies, with prior notice and consultation with the management of the Companies, by an independent accounting firm or accountant (i.e., an
accountant who is not an employee of either of the Advisors or their Affiliates); 
 (b) Legal Services. Legal services rendered to
the Companies, their direct or indirect subsidiaries, or either of the Advisors with respect to the Companies, with prior notice and consultation with the management of the Companies, by an independent law firm or attorney (i.e., an attorney who is
not an employee of either of the Advisors or their Affiliates); and 
 (c) Independent Actuarial Services. Actuarial services rendered
to the Companies, their direct or indirect subsidiaries, or either of the Advisors with prior notice and consultation with the management of the Companies, by an independent actuarial firm or actuary (i.e., an actuary who is not an employee of
either of the Advisors or their Affiliates). 
 (d) For the avoidance of doubt, subject to the requirements set forth in Section 4.02 of
the LLC Agreement, nothing herein shall prevent the Companies from separately engaging Goldman or its Affiliates to provide investment banking or other financial advisory services for additional compensation on terms approved by the board of
managers of PSAV Holdings (including one Olympus Manager and one Broad Street Manager, in each case, as defined in the LLC Agreement). 

3.2. Definition of Affiliate. “Affiliate” shall mean, with respect to any specified individual, corporation, limited
liability company, partnership, association, trust or other entity or organization (each, a “Person”), a Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control
with, such specified Person (it being understood that a Person shall be deemed to “control” another Person, for purposes of this definition, if such Person directly or indirectly has the power to direct or cause the direction of the
management and policies of such other Person, whether through holding beneficial ownership interests in such other Person, through contracts or otherwise). 

4. Powers of the Advisors. So that they may properly perform their duties hereunder, the Advisors shall, subject to
Section 8 hereof, have the authority to do all things necessary and proper to carry out the duties set forth in Section 3. 

  
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 5. Compensation and Reimbursement. 

(a) Purchase Fee. As consideration payable to the Advisors with respect to the services provided by the Advisors in connection with the
purchase of the capital stock of AVSC on the date hereof and the financing related thereto, which services included, but were not limited to, financial advisory services and corporate structure review (the “Initial Services”), ASVC
shall pay to the Advisors a transaction fee (the “Purchase Fee”) in an aggregate amount equal to $14,000,000, earned and payable on the date hereof, which Purchase Fee shall be apportioned among the Advisors as follows: (i) to
Olympus, $6,000,000 and (ii) to Goldman, $8,000,000. 
 (b) Annual Advisory Fee. As consideration payable to the Advisors or any
of their Affiliates for providing the Services to the Companies and their direct and indirect subsidiaries, AVSC shall pay to the Advisors an annual advisory fee (the “Advisory Fee”) in an aggregate amount equal to $1,500,000, due
and payable in advance on each anniversary of the date hereof or if such date is not a business day, the next business day; provided that the annual fee in respect of the first full year shall be paid on the date hereof. The Advisory Fee shall be
apportioned among the Advisors as follows: (i) 50% to Olympus and (ii) 50% to Goldman; provided that, if, at any time after the date hereof, there is a change in the number of Class A Units owned by the Affiliates of either Advisor,
the amounts payable to the Advisors pursuant to this Section 5(b) shall be adjusted and thereafter be payable to the Advisors pro rata in accordance with the proportion that the number of Class A Units owned by the Affiliates of
each Advisor bears to the aggregate number of Class A Units owned by the Affiliates of both Advisors (after giving effect to any changes in the Class A Units of the Affiliates of each Advisor) (this proportion, the “Pro Rata
Proportion”). Such payments shall accrue to the extent not paid. In the case of an Initial Public Offering (as defined in the LLC Agreement), the Companies shall pay to each Advisor (or an affiliate of such Advisor designated by it), in
addition to the fees payable above, an amount equal to its Pro Rata Proportion of the net present value (using a discount rate equal to the then yield on U.S. Treasury Securities of like maturity) of the Advisory Fee that would have been payable to
the Advisors over the remaining term of this Agreement. In the case of a Change of Control (as defined in the LLC Agreement), the Companies shall pay to each Advisor (or an affiliate of such Advisor designated by it), in addition to the fees payable
above, its Pro Rata Proportion of the greater of (i) 1.0% of the total consideration to be received by the owners of PSAV Holdings as a result of the transaction (or series of transactions) that causes the Change of Control (as determined by
the board of managers of PSAV Holdings), and (ii) an amount equal to the net present value (using a discount rate equal to the then yield on U.S. Treasury Securities of like maturity) of the Advisory Fee that would have been payable to the
Advisors over the remaining term of this Agreement. 
 (c) Transaction Fees. In connection with any transaction in which the Companies
or their direct or indirect subsidiaries may be involved in the future, including, without limitation, acquisitions, divestitures, financings (including additional equity investments in PSAV Holdings) or liquidity events, (each, a
“Transaction”) AVSC shall pay to the Advisors an aggregate fee (a “Transaction Fee”) equal 1% of the aggregate value (as determined by the board of managers of PSAV Holdings) of such Transaction, which Transaction
Fee shall be allocated between the Advisors based on their respective Pro Rata Proportion. Such payments shall accrue to the extent not paid. For the avoidance of doubt, no Transaction Fee (other than the Purchase Fee) shall be payable to either
Advisor in respect of the Initial Services. 

  
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 (d) Expenses. In addition to any fees payable to the Advisors pursuant to this Agreement,
AVSC shall, or shall cause one or more of its Affiliates to, at the direction of the Advisors, pay directly or reimburse each of the Advisors or any of their Affiliates, from time to time upon request, for any Expenses (as hereinafter defined)
incurred in connection with the Services provided for in Section 3 hereof. For purposes of this Agreement, the term “Expenses” shall mean the reasonable amounts paid by an Advisor or any of its Affiliates in connection
with the Services provided for in Section 3, including without limitation (i) fees and disbursements of any independent professionals and organizations, including independent auditors and outside legal counsel, investment bankers or
other financial advisors or consultants, (ii) costs of any outside services of independent contractors such as financial printers, couriers, business publications or similar services and (iii) transportation, per diem, telephone calls,
entertainment and all other reasonable expenses actually incurred by the Advisor or any of its Affiliates in rendering the Services provided for herein. All reimbursements for Expenses shall be made promptly upon or as soon as practicable after
presentation by the Advisor to the Companies of the statement in connection therewith. Nothing in this Section 5 shall limit any obligations of PSAV Holdings to reimburse any costs and expenses to the Advisors or their Affiliates as
provided in the LLC Agreement. 
 6. Indemnification. 

(a) The Companies will, jointly and severally, indemnify and hold harmless, to the fullest extent permitted by law, each of the Advisors and
their respective officers, directors, managers, employees, members, partners, agents, representatives, Affiliates and controlling persons (if any) (each being an “Indemnified Party”) from and against any and all losses, claims,
damages and liabilities, joint or several (the “Liabilities”), to which such Indemnified Party may become subject under any applicable federal or state law, any claim made by any third party or otherwise, relating to or arising out
of the Services contemplated by this Agreement or the engagement of the Advisors pursuant to, and the performance by the Advisors or such Indemnified Party of the Services, and the Companies will reimburse any Indemnified Party for all costs and
expenses (including without limitation reasonable attorneys’ fees and expenses) as they are incurred in connection with the investigation of, preparation for or defense of any pending or threatened claim, or any action or proceeding arising
therefrom, whether or not such Indemnified Party is a party thereto. The Companies will not be liable under the foregoing indemnification provision to the extent that any loss, claim, damage, liability, cost or expense is determined by a court, in a
final judgment from which no further appeal may be taken, to have resulted solely from the gross negligence or willful misconduct of the Indemnified Party. The reimbursement and indemnity obligations of the Companies under this paragraph shall be in
addition to any liability which the Companies may otherwise have, shall extend upon the same terms and conditions to any Affiliate of the Advisors and the equityholders, officers, directors, employees, members, partners, agents, representatives,
Affiliates and controlling persons (if any), as the case may be, of the Advisors and any such Affiliate and shall be binding upon and inure to the benefit of, and shall be enforceable by, any successors, assigns, heirs and personal representatives
of the Companies, the Advisors, any such Affiliate and any such person. 

  
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 (b) If such indemnification is for any reason not available or insufficient to hold an
Indemnified Party harmless, the Companies agree to contribute to the Liabilities involved in such proportion as is appropriate to reflect the relative benefits received (or anticipated to be received) by the Companies, on the one hand, and by the
Advisors, on the other hand, with respect to the Services or, if such allocation is determined by a court or arbitral tribunal to be unavailable, in such proportion as is appropriate to reflect other equitable considerations such as the relative
fault of the Companies, on the one hand, and of the Advisors, on the other hand; provided, however, that to the extent permitted by applicable law, the Indemnified Parties shall not be responsible for amounts which in the aggregate are in excess of
the amount of all fees actually received by the Advisors from the Company with respect to the Services. Relative benefits to the Companies, on the one hand, and to the Advisors, on the other hand, with respect to the Services shall be deemed to be
in the same proportion as (i) the total value received or proposed to be received by the Companies in connection with the Services or any transactions to which the Services relate bears to (ii) all fees actually received by the Advisors in
connection with the Services. Relative fault shall be determined, in the case of Liabilities arising out of or based on any untrue statement or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact,
by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Companies to the Advisors and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act
of 1933, as amended) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
 (c) Upon
receipt by an Indemnified Party of actual notice of any pending or threatened action, claim, suit, investigation or proceeding (an “Action”) against such Indemnified Party with respect to which indemnity may be sought under this
Agreement, such Indemnified Party shall promptly notify the Companies in writing; provided that failure to so notify the Companies shall not relieve the Companies from any liability which the Companies may have on account of the indemnity provisions
under this Agreement or otherwise, except to the extent the Companies shall have been materially prejudiced by such failure. The Companies shall have the right to assume the defense of any such Action including the employment of counsel reasonably
satisfactory to such Indemnified Party. Any Indemnified Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such
Indemnified Party, unless: (i) the Companies have failed to assume the defense and employ counsel promptly or (ii) the named parties to any such Action (including any impleaded parties) include such Indemnified Party and the Companies, and
such Indemnified Party shall have been advised by counsel that there may be one or more legal defenses available to it which are different from or in addition to those available to the Companies; provided that the Companies shall not in such event
be responsible hereunder for the fees and expenses of more than one firm of separate counsel in connection with any Action in the same jurisdiction, in addition to any local counsel. The Companies shall not, without the Advisors’ prior written
consent, settle, compromise, or consent to the entry of any judgment in or otherwise seek to terminate any Action in respect of which indemnification may be sought hereunder (whether or not any Indemnified Party is a party therein) unless the
Companies have given the Advisors reasonable prior written notice thereof and such settlement, 

  
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compromise, consent or termination includes an unconditional release of each Indemnified Party from any liabilities arising out of such Action; provided, that the Companies will not permit
any such settlement, compromise, consent or termination to include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of an Indemnified Party, without such Indemnified Party’s prior written consent. No
Indemnified Party seeking indemnification, reimbursement or contribution under this Agreement will, without the Companies’ prior written consent, settle, compromise, consent to the entry of any judgment in or otherwise seek to terminate any
Action referred to herein. 
 (d) The Companies’ obligations hereunder shall be in addition to any rights that any Indemnified Party may
have at common law or otherwise. 
 (e) The provisions of this Section 6 and any modification thereof shall apply to the Services
provided to the Companies by the Advisors (including related activities prior to the date hereof) and shall remain in full force and effect regardless of the completion or termination of this Agreement. If any term, provision, covenant or
restriction herein is held by a court of competent jurisdiction to be invalid, void or unenforceable or against public policy, the remainder of the terms, provisions and restrictions contained herein shall remain in full force and effect and shall
in no way be affected, impaired or invalidated. 
 7. Distributions. The Companies shall cause their subsidiaries to distribute funds
to the Companies to the extent necessary for the Companies to satisfy their obligations under this Agreement. 
 8. Disclaimer and
Limitation of Liability. No Advisor makes any representations or warranties, express or implied, in respect of the Services provided or to be provided by it hereunder. In no event will any Advisor or any Indemnified Party be liable to any of the
Companies or any of their Affiliates for any act, alleged act, omission or alleged omission that does not constitute willful misconduct of such Advisor as determined by a final, non-appealable determination of a court of competent jurisdiction. The
Companies agree that any advice or recommendations (written or oral) provided by the Advisors under this Agreement is solely for the use and benefit of the Companies and may not be disclosed to, or used or relied upon for any purpose by, any other
person or entity without the prior written approval of such Advisor. In no event will any Advisor or any of its Affiliates or consultants or other Indemnified Party be liable to the Companies or any of their affiliates for any indirect, special,
punitive, incidental or consequential damages, including, without limitation, lost profits or savings, whether or not such damages are foreseeable, or for any third party claims (whether based in contract, tort or otherwise), relating to the
Services provided or to be provided by such Advisor hereunder. 
 9. Independent Contractors. Nothing herein shall be construed to
create a joint venture or partnership between either of the Advisors, on the one hand, and the Companies, on the other hand, or an employee/employer relationship. In connection with the Services, the Advisors are acting as independent contractors
and not in any other capacity pursuant to this Agreement, with duties owing solely to the Companies. Neither the Advisors nor the Companies shall have any express or implied right or authority to assume or create any obligations on behalf of or in
the name of the other or to bind the other to any contract, agreement or undertaking with 

  
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any third party. The Companies acknowledge and agree that nothing in this Agreement, or any other documents required to be entered into by the Companies in connection with this Agreement, shall
create a fiduciary duty of the Advisors (or any of their Affiliates) to the Companies. 
 10. Notices. Any notice or other
communications required or permitted to be given hereunder shall be in writing and delivered by hand or mailed by registered or certified mail, return receipt requested, or by fax to the party to whom it is to be given at its address set forth
herein, or to such other address as the party shall have specified by notice similarly given and the mailing date shall be deemed the date from which all time periods pertaining to a date of notice shall run. 

 

	 	(i)	If to PSAV Holdings, PSAV Intermediate or AVSC: 

  

	 	    	c/o PSAV Holdings LLC 

	 	    	111 West Ocean Blvd #1110 

	 	    	Long Beach, CA 90802 

	 	    	Attn: J. Whitney Markowitz 

	 	    	Facsimile: (562) 366-0265 

  

	 	    	with a copy to: 

  

	 	    	Weil, Gotshal & Manges LLP 

	 	    	767 Fifth Avenue 

	 	    	New York, NY 10153 

	 	    	Attn: Michael J. Aiello 

	 	    	Facsimile: (212) 310-8007 

  
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	 	    	with a copy to: 

  

	 	    	Kirkland & Ellis LLP 

	 	    	300 N. LaSalle 

	 	    	Chicago, IL 60654 

	 	    	Attn:     John A. Schoenfeld 

	 	    	             Benjamin P. Clinger 

	 	    	Facsimile: (312) 862-2200 

  

	 	    	if to Goldman, to it at: 

  

	 	    	Goldman, Sachs & Co. 

	 	    	85 Broad Street 

	 	    	New York, New York 10004 

	 	    	Attn: Bradley Gross 

	 	    	Facsimile: (212) 357-5505 

  

	 	    	with a copy to: 

  

	 	    	Weil, Gotshal & Manges LLP 

	 	    	767 Fifth Avenue 

	 	    	New York, New York 10153 

	 	    	Attn: Michael J. Aiello 

	 	    	Facsimile: (212) 310-8007 

 11. Assignment. This Agreement shall inure to the
benefit of and be binding upon the parties and their successors and assigns. However, neither this Agreement nor any of the rights of the parties hereunder may be transferred or assigned by any party hereto, except that (i) if any of the
Companies shall merge or consolidate with or into, or sell or otherwise transfer substantially all its assets to, another corporation which assumes the obligations of such Company under this Agreement, such Company may assign its rights hereunder to
that corporation and (ii) each Advisor may assign its rights and obligations hereunder to any Affiliate of such Advisor. Any attempted transfer or assignment in violation of this Section 11 shall be void. 

12. Permissible Activities. Nothing herein shall in any way preclude either of the Advisors or their Affiliates or their respective
officers, directors, employees, members and partners from engaging in or investing in any business activities or from performing services for its or their own account or for the account of others, including companies which may be or are in
competition with the business conducted by the Companies or their direct or indirect subsidiaries. 
 13. Confidentiality. The
parties hereto agree that the terms of this Agreement shall remain strictly confidential as between them and that neither the existence of this Agreement or any terms herein, nor any advice or opinions provided by the Advisors hereunder,

  
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shall be disclosed or referred to publicly or to any third party (other than the Advisors’ and the Companies’ legal, tax, financial or other advisors), without first obtaining the
written consent of the other parties; provided, however, that any party may disclose the terms of this Agreement to the extent required by law or regulation or requested by any governmental agency or other regulatory authority and the Advisors may
disclose the terms of this Agreement in connection with any assignment permitted under Section 11. 
 14. Amendment and
Waiver. No amendment or waiver of any provision of this Agreement, or consent to any departure by either party from any such provision, shall in any event be effective unless the same shall be in writing and signed by the parties to this
Agreement. The waiver of any party of any breach of this Agreement shall not operate or be construed to be a waiver of any subsequent breach. 

15. Entire Agreement. This Agreement contains the entire agreement between the parties hereto and supersedes all prior agreements and
understandings, oral and written, among the parties hereto with respect to the subject matter hereof. 
 16. Section Headings. The
section headings contained herein are included for convenience of reference only and shall not constitute a part of this Agreement for any other purpose. 

17. Applicable Law. This Agreement and the rights and obligations of the parties hereunder shall be governed by, and construed and
interpreted in accordance with, the internal laws of the State of New York. Each of the parties hereto hereby irrevocably submits to the exclusive jurisdiction of any Federal court sitting in the Southern District of New York over any suit, action
or proceeding arising out of or relating to this Agreement. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted or not prohibited by law, any objection which it may now or hereafter have to the laying of the venue
of any such suit, action or proceeding brought in such a court and any claim that any such suit, action or proceeding brought in such a court has been brought in an inconvenient forum. Each of the parties hereto hereby irrevocably consents to the
service of process in any suit, action or proceeding by sending the same by certified mail, return receipt requested or by overnight courier service, to the address of such party set forth in Section 10 or in the records of the
Companies. EACH PARTY HERETO WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY IN ANY ACTION BROUGHT HEREUNDER OR ARISING OUT OF THE TRANSACTIONS CONTEMPLATED HEREBY. 

18. Severability. Any section, clause, sentence, provision, subparagraph or paragraph of this Agreement held by a court of competent
jurisdiction to be invalid, illegal or ineffective shall not impair, invalidate or nullify the remainder of this Agreement, but the effect thereof shall be such section, clause, sentence, provision, subparagraph or paragraph so held to be invalid,
illegal or ineffective. 
 [Remainder of Page Intentionally Left Blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have signed this Agreement as of the day and year first
above written. 
  

			
	GOLDMAN, SACHS & CO.
		
	By:	 	/s/ Bradley Gross
		 	Name: Bradley Gross
		 	Title:   Authorized Signatory
	
	OLYMPUS ADVISORS LLC 
		
	By:	 	/s/ Robert S. Morris
		 	Name: Robert S. Morris
		 	Title:   Managing Partner
	
	PSAV HOLDINGS LLC 
		
	By:	 	/s/ J. Whitney Markowitz
		 	Name: J. Whitney Markowitz
		 	Title:   Chief Legal Counsel and Secretary
	
	PSAV INTERMEDIATE CORP. 
		
	By:	 	/s/ J. Whitney Markowitz
		 	Name: J. Whitney Markowitz
		 	Title:   Secretary
	
	AVSC HOLDING CORP. 
		
	By:	 	/s/ J. Whitney Markowitz
		 	Name: J. Whitney Markowitz
		 	Title:   Secretary

 [SIGNATURE PAGE TO MANAGEMENT
ADVISORY SERVICES AGREEMENT]Exhibit 4.1

 

Execution Version

 

NEITHER THESE SECURITIES NOR THE SECURITIES
ISSUABLE UPON THE EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (“SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES
ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY (AS DEFINED BELOW).

 

PHARMACYTE BIOTECH, INC.

 

COMMON STOCK WARRANT AGREEMENT

 

	 	 	Original Issue Date: January 7, 2016

 

This Common Stock Warrant
Agreement (“Warrant Agreement”) certifies that, for value received, Berkshire Capital Management Co., Inc.,
a Delaware corporation, or its assigns (“Holder”) is entitled to purchase from PharmaCyte Biotech, Inc., a Nevada
corporation (“Company”), up to a total of 8,500,000 shares of Common Stock (as defined below) (each, a “Warrant”
and collectively, the “Warrants,” and each such share of Common Stock, a “Warrant Security”
and all such shares of Common Stock, the “Warrant Securities”), at any time and from time to time through and
including January 7, 2021 (“Expiration Date”), all on the terms and subject to the conditions set forth below:

 

1. Definitions.
As used in this Warrant Agreement, the following terms shall have the definitions set forth in this Section 1. Other capitalized
terms used and not otherwise defined shall have the meanings set forth in that certain Stock and Warrant Purchase Agreement, dated
January 7, 2016, between the Company and the Holder.

 

“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 144.

 

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

 

“Common
Stock” means the common stock of the Company, $0.0001 par value per share, and any securities into which such common
stock may hereafter be reclassified or for which it may be exchanged as a class.

 

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

 

“Exercise
Price” means $0.12 in United States Dollars, subject to adjustment in accordance with Section 9 of this Warrant Agreement.

 

“Fundamental
Transaction” means any of the following: (i) the Company effects any merger or consolidation of the Company with or into
another Person as a result of which transaction, the stockholders of the Company as of a time immediately prior to such transaction
no longer hold at least 50% of the voting securities of the surviving entity; (ii) the Company effects any sale of all or substantially
all of its assets in one or a series of related transactions; (iii) any tender offer or exchange offer (whether by the Company
or another Person), as defined under the federal securities laws, is completed pursuant to which holders of Common Stock are permitted
to tender or exchange their shares for other securities, cash or property; or (iv) the Company effects any reclassification of
the Common Stock or any compulsory share exchange pursuant to which the Common Stock is converted into or exchanged for other securities,
cash or property.

 

“New York
Courts” means the state and federal courts sitting in the State of New York, City of New York, Borough of Manhattan.

 

 

 

    	 	1	 

     

    

 

“Original
Issue Date” means the Original Issue Date first set forth on the first page of this Warrant Agreement.

 

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

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Trading
Day” means a day on which the Common Stock is traded or quoted on a Trading Market; provided, that if the Common Stock
is not traded or quoted on a Trading Market, then “Trading Day” shall mean a Business Day.

 

“Trading
Market” means whichever of the New York Stock Exchange, the NYSE MKT, The NASDAQ Global Select Market, The NASDAQ Global
Market, The NASDAQ Capital Market, the OTC Bulletin Board or any market owned or operated by OTC Markets Group Inc. (or any similar
organization or agency succeeding to its functions of reporting prices) on which the Common Stock is listed or quoted for trading
on the date in question.

 

2. Registration
of Warrants. The Company shall register these Warrants upon records to be maintained by the Company for that purpose (“Warrant
Register”), in the name of the record Holder from time to time. The Company may deem and treat the registered Holder
of these Warrants 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.

 

3. Registration
of Transfers. On the terms and subject to the conditions set forth in this Warrant Agreement, the Company shall register the
transfer of any portion of these Warrants in the Warrant Register, upon surrender of these Warrants, with the Form of Assignment
attached hereto duly completed and signed, to the Company at its address specified in this Warrant Agreement. Upon any such registration
or transfer, a new certificate representing the right to purchase Warrant Securities in substantially the form of this Warrant
Agreement (a “New Warrant Certificate”), evidencing the portion of these Warrants so transferred shall
be issued to the transferee and a New Warrant Certificate evidencing the remaining portion of these Warrants not so transferred,
if any, shall be issued to the transferring Holder. The acceptance of the New Warrant Certificate by the transferee thereof shall
be deemed the acceptance by such transferee of all of the rights and obligations of a holder of a Warrant.

 

4. Exercise and
Duration of Warrants. These Warrants shall be exercisable by the registered Holder at any time and from time to time through
and including the Expiration Date. At 5:00 p.m., Eastern Standard Time, on the Expiration Date, the portion of these Warrants not
exercised prior thereto shall be and become void and of no value.

 

5. Delivery of
Warrant Securities. Upon delivery of the Exercise Notice (in the form attached hereto) to the Company (with the attached Warrant
Exercise Log) at its address for notice set forth herein and upon payment of the Exercise Price in accordance with Section 10,
the Company shall promptly (but in no event later than five Trading Days after the Date of Exercise (as defined herein)) issue
and deliver to the Holder, a certificate for the Warrant Securities issuable upon such exercise. A “Date of Exercise”
means the date on which the Holder shall have delivered to the Company: (i) the Exercise Notice (with the Warrant Exercise Log
attached to it), appropriately completed and duly signed; and (ii) payment of the Exercise Price for the number of Warrant Securities
so indicated by the Holder to be purchased.

 

6. Charges, Taxes
and Expenses. Issuance and delivery of Warrant Securities upon exercise of any Warrants shall be made without charge to the
Holder for any issue or transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the
issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company
shall not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates
for Warrant Securities or Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax liability
that may arise as a result of holding or transferring these Warrants or receiving Warrant Securities upon exercise hereof.

 

 

 

    	 	2	 

     

    

 

7. Replacement
of Warrant. If this Warrant Agreement is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued
in exchange and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant Agreement, a New
Warrant, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary
and reasonable indemnity (which shall not include a surety bond), if requested. Applicants for a New Warrant under such circumstances
shall also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the
Company may prescribe. If a New Warrant Certificate is requested as a result of a mutilation of this Warrant Agreement, then the
Holder shall deliver such mutilated Warrant Agreement to the Company as a condition precedent to the Company’s obligation
to issue the New Warrant.

 

8. Warrant Securities.
The Company covenants that all Warrant Securities issuable pursuant to this Warrant shall, upon issuance and the payment of the
applicable Exercise Price in accordance with the terms hereof, be duly authorized, validly issued and fully paid and non-assessable
and not subject to the preemptive rights of any other holder of common stock.

 

(a)             
Reservation of Securities. Company shall at all times reserve and keep available out of its authorized common stock, solely
for the purpose of issuance upon the exercise of the Warrant Shares, such number of shares of its common stock as shall be issuable
upon the exercise thereof.

 

9. Certain Adjustments.
The Exercise Price and number of Warrant Securities issuable upon exercise of this Warrant are subject to adjustment from time
to time as set forth in this Section 9.

 

(a) Stock Dividends
and Splits. If the Company, at any time while these Warrants are outstanding: (i) pays a stock dividend on its Common Stock
or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock; (ii) subdivides outstanding
shares of Common Stock into a larger number of shares; or (iii) combines outstanding shares of Common Stock into a smaller number
of shares, then in each such case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number
of shares of Common Stock outstanding immediately before such event and of which the denominator shall be the number of shares
of Common Stock outstanding immediately after such event. Any adjustment made pursuant to clause (i) of this paragraph shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution,
and any adjustment pursuant to clause (ii) or (iii) of this paragraph shall become effective immediately after the effective date
of such subdivision or combination.

 

(b) Fundamental
Transactions. If, at any time while these Warrants are outstanding there is a Fundamental Transaction, then the Holder shall
have the right thereafter to receive, upon exercise of these Warrants, the same amount and kind of securities, cash or property
as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior
to such Fundamental Transaction, the holder of the number of Warrant Securities then issuable upon exercise in full of these Warrants
(“Alternate Consideration”). 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.
The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor
or surviving entity to comply with the provisions of this paragraph.

 

(c) Adjustments
for Other Distributions. In the event the Company shall declare a distribution on the outstanding Common Stock that is payable
in securities of other Persons, evidences of indebtedness issued by the Company or other Persons, assets (excluding cash dividends
or distributions to the holders of Common Stock paid out of current or retained earnings and declared by the Company’s Board
of Directors) or options or rights, then, in each such case for the purpose of this Section 9(c), upon exercise of any Warrants,
the Holder shall be entitled to a proportionate share of any such distribution as though the Holder was the actual record holder
of the number of shares of Common Stock which might have been purchased upon exercise of any Warrants immediately prior to the
record date fixed for the determination of the holders of Common Stock of the Company entitled to receive such distribution (or
the date of such distribution if no record date is fixed).

 

 

 

    	 	3	 

     

    

 

(d) Number of Warrant
Securities. Simultaneously with any adjustment to the Exercise Price pursuant to this Section 9, the number of Warrant Securities
that may be purchased upon exercise of these Warrants shall be increased or decreased proportionately, so that after such adjustment
the aggregate Exercise Price payable hereunder for the adjusted number of Warrant Securities shall be the same as the aggregate
Exercise Price in effect immediately prior to such adjustment.

 

(e) Calculations.
All calculations under this Section 9 shall be made to the nearest cent or the nearest 1/100th of a share, as applicable.
The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or for the account
of the Company, and the disposition of any such shares shall be considered an issue or sale of Common Stock.

 

(f) Notice of Adjustments.
Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its expense will promptly compute such adjustment
in accordance with the terms of this Warrant Agreement and prepare a certificate setting forth such adjustment, including a statement
of the adjusted Exercise Price and adjusted number or type of Warrant Securities or other securities issuable upon exercise of
these Warrants (as applicable). Upon written request, the Company will promptly deliver a copy of each such certificate to the
Holder.

 

10. Payment of
Exercise Price. The Holder may pay the Exercise Price in one of the following manners:

 

(a) Cash Exercise.
The Holder may deliver immediately available funds; or

 

(b) Cashless Exercise.
The Holder may notify the Company in an Exercise Notice of its election to utilize cashless exercise, in which event the Company
shall issue to the Holder the number of Warrant Securities determined as follows:

 

X = Y(A-B)/A

 

where:

 

X = the number of Warrant Securities
to be issued to the Holder.

 

Y = the number of Warrant Securities
with respect to which these Warrants are being exercised (inclusive of the Warrant Securities surrendered to the Company in payment
of the aggregate Exercise Price).

 

A = the arithmetic average
of the Closing Sale Prices (as defined below) of one share of Common Stock for the five (5) consecutive Trading Days ending on
the date immediately preceding the date of the Exercise Notice.

 

B = the Exercise Price.

 

The term “Closing Sale Price”
means, for any security as of any date, the last closing bid price and last closing trade price, respectively, for such security
on the Trading Market, as reported by Bloomberg, or, if the Trading Market operates on an extended hours basis and does not designate
the closing bid price or the closing trade price, as the case may be, then the last bid price or the last trade price, respectively,
of such security prior to 4:00:00 p.m., New York City time, as reported by Bloomberg, or if the foregoing do not apply, the last
closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic bulletin
board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported for
such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such security
as reported in the OTC Link by OTC Markets Group Inc.. If the Closing Sale Price cannot be calculated for a security on a particular
date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as mutually
determined by the Company and the Registered Holder. If the Company and the Registered Holder are unable to agree upon the fair
market value of such security, then such dispute shall be resolved pursuant to Section 14(b) hereof. All such determinations are
to be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable
calculation period.

 

For purposes of Rule 144 promulgated under
the Securities Act, it is intended, understood and acknowledged that the Warrant Securities issued in a cashless exercise transaction
shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Securities shall be deemed to have
commenced, on the Original Issue Date appearing on page one.

 

 

 

    	 	4	 

     

    

 

11. Limitations
on Exercise. Notwithstanding anything to the contrary contained herein, the number of Warrant Securities that may be acquired
by the Holder upon any exercise of these Warrants (or otherwise in respect hereof) shall be limited to the extent necessary to
insure that, following such exercise (or other issuance), the total number of shares of Common Stock then beneficially owned by
such Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would be aggregated with the Holder’s
for purposes of Section 13(d) of the Exchange Act, does not exceed 9.99% of the total number of issued and outstanding shares of
Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For such purposes, beneficial
ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
Notwithstanding anything to the contrary contained in this Warrant Agreement: (i) no term of this Section 11 may be waived by any
party, nor may any term of this Section 11 be amended such that the threshold percentage of ownership as set forth above would
be directly or indirectly increased; (ii) this restriction runs with these Warrants and may not be modified or waived by any subsequent
Holder hereof; and (iii) any attempted waiver, modification or amendment of this Section 11 will be void ab initio.

 

12. No Fractional
Shares. No fractional Warrant Securities will be issued in connection with any exercise of these Warrants. In lieu of any fractional
shares, which would otherwise be issuable, the Company shall pay cash equal to the product of such fraction multiplied by the closing
price of one share of Common Stock as reported by the applicable Trading Market on the date of exercise.

 

13. Notices.
Any and all notices or other communications or deliveries hereunder (including, without limitation, any Exercise Notice) shall
be in writing and shall be deemed given and effective on the earliest of: (i) the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number specified in this Section 13 prior to 5:00 p.m. (Eastern Standard Time) on a
Trading Day; (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile
at the facsimile number specified in this Section 13 on a day that is not a Trading Day or later than 6:30 p.m. (Eastern Standard
Time) on any Trading Day, (iii) the Trading Day following the date of mailing, if sent by nationally recognized overnight courier
service; or (iv) upon actual receipt by the party to whom such notice is required to be given. The addresses for such communications
shall be: (i) if to the Company, to PharmaCyte Biotech, Inc., 12510 Prosperity Drive, Suite 310, Silver Spring, Maryland 20904,
Attention: Chief Executive Officer (or such other address as the Company shall indicate in writing in accordance with this Section
13), or via facsimile to (631) 240-8900, or (ii) if to the Holder, to the address or facsimile number appearing on the Warrant
Register or such other address or facsimile number as the Holder may provide to the Company in accordance with this Section 13.

 

14. Miscellaneous.

 

(a) This Warrant Agreement
shall be binding on and inure to the benefit of the parties hereto and their respective successors and assigns. Subject to the
preceding sentence, nothing in this Warrant Agreement shall be construed to give to any Person other than the Company and the Holder
any legal or equitable right, remedy or cause of action under these Warrants. This Warrant Agreement may be amended only in writing
signed by the Company and the Holder and their successors and assigns. The foregoing sentence shall be subject to the restrictions
on waivers and amendments set forth in Section 11 of this Warrant Agreement.

 

 (b) All questions concerning the
construction, validity, enforcement, performance and interpretation of this Warrant Agreement shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law
thereof (other than Section 5-1401 of the General Obligations Law of the State of New York). Each party agrees that all legal proceedings
concerning the interpretations, enforcement and defense of this Warrant Agreement and the transactions herein contemplated (“Proceedings”)
(whether brought against a party hereto or its respective Affiliates, employees or agents) shall be commenced exclusively in the
New York Courts. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby
irrevocably waives, and agrees not to assert in any Proceeding, any claim that it is not personally subject to the jurisdiction
of any New York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each party hereto hereby
irrevocably waives personal service of process and consents to process being served in any such Proceeding by mailing a copy thereof
via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices
to it under this Warrant Agreement and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.
Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Warrant Agreement or the transactions contemplated hereby. If either
party shall commence a Proceeding to enforce any provisions of this Warrant Agreement, then the prevailing party in such Proceeding
shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation,
preparation and prosecution of such Proceeding.

 

 

 

    	 	5	 

     

    

 

(c) The failure of
any of the parties hereto to at any time enforce any of the provisions of this Warrant Agreement shall not be deemed or construed
to be a waiver of any such provision, nor to in any way effect the validity of this Warrant Agreement or the Warrants or any provision
hereof or the right of any of the parties hereto to thereafter enforce each and every provision of this Warrant Agreement. No waiver
of any breach, non-compliance or non-fulfillment of any of the provisions of this Warrant Agreement shall be effective unless set
forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and
no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent
breach, non-compliance or non-fulfillment.

 

(d) The headings herein
are for convenience only, do not constitute a part of this Warrant Agreement and shall not be deemed to limit or affect any of
the provisions hereof. Whenever the context requires, words used in the singular shall be construed to mean or include the plural
and vice versa, and pronouns of any gender shall be deemed to include and designate the masculine, feminine or neuter gender.

 

(e) In case any one
or more of the provisions of this Warrant Agreement shall be invalid or unenforceable in any respect, the validity and enforceability
of the remaining terms and provisions of this Warrant Agreement shall not in any way be affected or impaired thereby and the parties
will attempt in good faith to agree upon a valid and enforceable provision which shall be a commercially reasonable substitute
therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant Agreement.

 

(f) Prior to exercise
of a Warrant, the Holder hereof shall not, by reason of being a Holder, be entitled to any rights of a stockholder with respect
to the Warrant Securities.

 

(g) Wherever possible,
each provision of this Warrant Agreement shall be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Warrant Agreement 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 Agreement.

 

[Signature page follows.]

 

 

 

    	 	6	 

     

    

 

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

 

	 	PHARMACYTE BIOTECH, INC.
	 	 	 
	 	By:	   /s/ Kenneth L. Waggoner
	 	Name: Kenneth L. Waggoner
	 	Title: Chief Executive Officer

 

 

 

 

 

 

 

 

 

    	 	7	 

     

    

 

EXERCISE NOTICE

PHARMACYTE BIOTECH, INC.

WARRANT AGREEMENT DATED JANUARY 7, 2016

 

The undersigned Holder
hereby irrevocably elects to purchase Warrant Securities pursuant to the above referenced Warrant Agreement. Capitalized terms
used herein and not otherwise defined have the meanings set forth in the Warrant Agreement.

 

	(1)	The undersigned Holder hereby exercises its right to purchase Warrant Securities pursuant to the Warrant Agreement. 
	 	 
	(2)	
        (PLEASE CHECK ONE METHOD OF PAYMENT)

         ̈
        The Holder shall pay the sum of $___ to the Company in accordance with the terms of the Warrant Agreement; or

         ̈
        The Holder shall exercise one or more Warrants through a cashless exercise in accordance with the terms of the Warrant Agreement.

	 	 
	(3)	Pursuant to this Exercise Notice, the Company shall deliver to the holder Warrant Securities in accordance with the terms of the Warrant Agreement.  
	 	 
	(4)	Please issue said Warrant Securities in the name of the undersigned or in such other name as is specified here: ______________________________________.
	 	 
	(5)	By its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (determined in accordance with Section 13(d) of the Securities Exchange Act of 1934) permitted to be owned under Section 11 of this Warrant to which this notice relates.

 

 

	Dated:  __________________________	 	Name of Holder:
	 	 	 
	 	 	(Print) 
	 	 	 
	 	 	Name: 
	 	 	Title: 
	 	 	Date: 
	 	 	 
	 	 	(Signature must conform in all respects to name of holder as specified on the face of the Warrant.)

 

 

 

 

    	 	8	 

     

    

 

WARRANT EXERCISE LOG

 

	Date	 	Number of Warrant

Securities Available to

be Exercised	 	Number of Warrant

Securities Exercised	 	Number of Warrant

Securities Remaining

to be Exercised
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

 

 

 

 

 

 

 

 

    	 	9	 

     

    

 

PHARMACYTE BIOTECH, INC.

WARRANT AGREEMENT DATED JANUARY 7, 2016

 

ASSIGNMENT
FORM

 

(To assign the foregoing warrant or warrants,
execute

this form and supply required information.

Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, [____] all of or [_______]
Warrants and all rights evidenced thereby are hereby assigned to

 

_______________________________________________
whose address is

 

_______________________________________________________________.

 

_______________________________________________________________

 

Date: ______________, _______

 

Holder’s Signature: _____________________________

 

Holder’s Address:   _____________________________

 

    _____________________________

 

Signature Guaranteed: ___________________________________________

 

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

 

 

 

 

 

 

 

 

 

    	 	10

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