Document:

Exhibit 10.24

 

SECURITIES
PURCHASE AGREEMENT

 

This
Securities Purchase Agreement (this “Agreement”) is dated as of March 1, 2021 between COROWARE, Inc., a Delaware corporation
and its predecessors (the “Company”), and the purchaser identified on the signature page hereto (each, including its
successors and permitted assigns, a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Rule 506(b) promulgated thereunder, the Company desires to issue and sell to each Purchaser,
and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described
in this Agreement.

 

NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows:

 

ARTICLE
I.

DEFINITIONS

 

1.1
Definitions. In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined
herein have the meanings given to such terms in the Articles of Incorporation (as defined herein), and (b) the following terms have the
meanings set forth in this Section 1.1:

 

“Action”
shall have the meaning ascribed to such term in Section 3.1(j).

 

“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.

 

“Board
of Directors” means the board of directors of the Company.

 

“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 Washington are authorized or required by law or other governmental action to close.

 

“Closing”
means one or more Closings of the purchase and sale of the Securities pursuant to Section 2.1.

 

“Closing
Date” means the Business Day on which all of the Transaction Documents have been executed and delivered by the applicable parties
thereto, and all conditions precedent to (i) the Purchasers’ obligation to pay the Subscription Amount at such Closing, and (ii)
the Company’s obligations to deliver the Securities to be issued and sold at such Closing, in each case, have been satisfied or
waived.

 

“Closing
Form 8-K” shall have the meaning ascribed to such term in Section 4.10.

 

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

 

“Common
Stock” means the common stock of the Company, $0.001 par value per share, and any other class of securities into which such
securities may hereafter be reclassified or changed.

 

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“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire
at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is
at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Company
Counsel” means Gary L. Blum, Esq.

 

“Company
Financial Statements” means the Company’s financial statements contained in the SEC Documents.

 

“Conversion
Price” shall have the meaning ascribed to such term in the Note.

 

“Conversion
Shares” means shares of the Company’s Common Stock issuable upon conversion of the Note and interest in accordance with
the terms of the Note.

 

“Disclosure
Schedules” means the Disclosure Schedules of the Company delivered concurrently herewith.

 

“Disqualification
Event” shall have the meaning ascribed to such term in Section 3.1(cc).

 

“End
Date” shall mean the date no Purchaser owns any Securities.

 

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

 

“Exempt
Issuance” means the issuance of (a) shares of Common Stock and options to officers, directors, employees, or consultants of
the Company prior to and after the Closing Date, (b) securities upon the exercise or exchange of or conversion of Securities issued hereunder
(subject to adjustment for forward and reverse stock splits and the like that occur after the date hereof) and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement provided that such
securities and any term thereof have not been amended since the date of this Agreement to increase the number of such securities or to
decrease the issue price, exercise price, exchange price or conversion price of such securities and which securities, and (c) securities
issued or issuable pursuant to this Agreement, the Notes, the Warrants and other Transaction Documents, or upon exercise or conversion
of any such securities.

 

“FCPA”
means the Foreign Corrupt Practices Act of 1977, as amended.

 

“Financial
Statements” means the financial information regarding the Company filed with the Commission prior to the date hereof.

 

“GAAP”
shall mean United States generally accepted accounting principles applied on a consistent basis.

 

“Indebtedness”
shall have the meaning ascribed to such term in Section 3.1(w).

 

“Intellectual
Property Rights” shall have the meaning ascribed to such term in Section 3.1(o).

 

“Legend
Removal Date” shall have the meaning ascribed to such term in Section 4.1(d).

 

“Liens”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

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“Material
Adverse Effect” shall have the meaning assigned to such term in Section 3.1(c).

 

“Material
Permits” shall have the meaning ascribed to such term in Section 3.1(m).

 

“Maximum
Rate” shall have the meaning ascribed to such term in Section 5.17.

 

“Money
Laundering Laws” shall have the meaning ascribed to such term in Section 3.1(y).

 

“Notes”
means the convertible notes, in the form of Exhibit A hereto.

 

“OFAC”
shall have the meaning ascribed to such term in Section 3.1(z).

 

“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.

 

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

 

“Regulation
D” means Regulation D under the Securities Act.

 

“Required
Approvals” shall have the meaning ascribed to such term in Section 3.1(e).

 

“Required
Minimum” means, as of any date three (3) times the maximum aggregate number of shares of Common Stock then issued or potentially
issuable in the future pursuant to the Transaction Documents, including but not limited to any Underlying Shares issuable upon conversion
in full of the Notes and the interest that could accrue through three years after the term thereof and the Warrant Shares issuable upon
exercise of the Warrants, ignoring any conversion or exercise limits set forth therein plus such additional amounts as requested by the
Purchaser pursuant to the TA Letter.

 

“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”
means the Notes, the Warrants, and the Underlying Shares.

 

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

 

“Subscription
Amount” means, as to each Purchaser, the aggregate amount to be paid for the Notes and Warrants purchased hereunder as specified
below such Purchaser’s name on the signature page of this Agreement and next to the heading “Subscription Amount,”
in United States dollars and in immediately available funds.

 

“Subsidiary”
means with respect to any entity at any date, any direct or indirect corporation, limited or general partnership, limited liability company,
trust, estate, association, joint venture or other business entity of which (A) more than 25% of (i) the outstanding capital stock having
(in the absence of contingencies) ordinary voting power to elect a majority of the board of directors or other managing body of such
entity, (ii) in the case of a partnership or limited liability company, the interest in the capital or profits of such partnership or
limited liability company or (iii) in the case of a trust, estate, association, joint venture or other entity, the beneficial interest
in such trust, estate, association or other entity business is, at the time of determination, owned or controlled directly or indirectly
through one or more intermediaries, by such entity, or (B) is under the actual control of the Company. Representations, undertakings
and obligations set forth in this Agreement shall be applicable only to Subsidiaries which exist or have existed at the applicable and
relevant time.

 

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“TA
Letter” means the letter to the Company’s Transfer Agent in the form annexed hereto as Exhibit C.

 

“Trading
Day” means a day on which the principal Trading Market is open for trading.

 

“Trading
Market” means any of the following markets or exchanges: the NYSE MKT LLC, the Nasdaq Capital Market, the Nasdaq Global Market,
the Nasdaq Global Select Market, the New York Stock Exchange, the OTC Bulletin Board, the OTCQB, or the OTCQX (or any successors to any
of the foregoing).

 

“Transaction
Documents” means this Agreement, the Notes, the Warrants, all exhibits and schedules thereto and hereto, and any other documents
or agreements executed in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means the transfer agent for the Common Stock, and any successor transfer agent of the Company.

 

“Underlying
Shares” means the shares of Common Stock issued and issuable upon conversion of the Notes and payment of interest on the Notes
in accordance with the terms of the Notes and upon exercise of the Warrants in accordance with the terms of the Warrants.

 

“Unlegended
Shares” shall have the meaning ascribed to such term in Section 4.1(d).

 

“Warrants”
means the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Article II hereof, in the form
of Exhibit B attached hereto.

 

“Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Warrants.

 

ARTICLE
II.

PURCHASE
AND SALE

 

2.1
Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the
Purchasers, severally and not jointly, agree to purchase, an aggregate of up to $3,500.00 principal amount of Notes, and Warrants
as determined pursuant to Section 2.2(a), such purchase and sale being the “Closing.” Each Purchaser shall deliver
to the Company such Purchaser’s Subscription Amount, and the Company shall deliver to each Purchaser its respective Note and Warrants,
as determined pursuant to Section 2.2(a), and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable
at a Closing. Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall occur at the offices
of Company Counsel or such other location as the parties shall mutually agree.

 

2.2
Deliveries.

 

(a)
On or prior to the initial Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following:

 

(i)
this Agreement duly executed by the Company with the schedules and exhibits thereto current as of each such Closing Date;

 

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(ii)
a Note in the principal amount of $3,500, which shall be equal to 117% of such Purchaser’s Subscription Amount registered in the
name of such Purchaser;

 

(iii)
Warrants registered in the names of such Purchaser to purchase 2,857,143 shares of Common Stock at a per share exercise price of $0.00035,
subject to adjustment as provided therein; and

 

(iv)
the TA Letter executed by the Company and the Transfer Agent.

 

(b)
On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:

 

(i)
this Agreement duly executed by such Purchaser; and

 

(ii)
such Purchaser’s Subscription Amount by wire transfer.

 

2.3
Closing Conditions.

 

(a)
The obligations of the Company hereunder to effect a Closing are subject to the following conditions being met:

 

(i)
the accuracy in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers
therein) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific date therein
in which case they shall be accurate as of such date);

 

(ii)
all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been
performed; and

 

(iii)
the delivery by each Purchaser of the items set forth in Section 2.2(b) of this Agreement.

 

(b)
The respective obligations of a Purchaser hereunder to effect the Closing, unless waived by such Purchaser, are subject to the following
conditions being met:

 

(i)
the accuracy in all material respects (determined without regard to any materiality, Material Adverse Effect or other similar qualifiers
therein) on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein
in which case they shall be accurate as of such date);

 

(ii)
all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;

 

(iii)
the Purchaser shall have received executed signature pages to this Agreement with respect to the Subscription Amounts for which such
Closing is to occur;

 

(iv)
the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;

 

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(v)
there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and

 

(vi)
from the date hereof to the Closing Date, trading in securities in the United States generally as reported by Bloomberg L.P. shall not
have been suspended or limited, nor shall a banking moratorium have been declared either by the United States or New York State authorities
nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity of such
magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of
such Purchaser, makes it impracticable or inadvisable to purchase the Securities at the Closing.

 

ARTICLE
III.

REPRESENTATIONS
AND WARRANTIES

 

3.1
Representations and Warranties of the Company. Except as set forth in the Disclosure Schedules or the reports filed by the Company
under the Securities Exchange Act of 1934, as amended (the “1934 Act”) with the Securities and Exchange Commission in the
two years preceding the date hereof (the “SEC Documents”), the Company represents and warrants to each Purchaser as of the
date hereof and the Closing Date unless as of a specific date therein in which case they shall be accurate as of such date:

 

(a)
Subsidiaries. The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary
free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly issued and
are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities. If the Company has
no Subsidiaries relevant to any component of this Agreement as of a particular date, then such reference shall not be applicable.

 

(b)
Organization and Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized,
validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power
and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any
Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or
other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good
standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned
by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could
not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction
Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise)
of the Company and the Subsidiaries, taken as a whole, (iii) a material adverse effect on the Company’s ability to perform in any
material respect on a timely basis its obligations under any Transaction Document, or (iv) the occurrence of a Disqualification Event
(any of (i), (ii), (iii) or (iv), a “Material Adverse Effect”) and, no Proceeding has been instituted in any such
jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

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(c)
Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by it of
the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no
further action is required by the Company, the Board of Directors or the Company’s stockholders and creditors in connection herewith
or therewith other than in connection with the Required Approvals except those filings requires to be made with the Commission and state
agencies after the Closing Date. This Agreement and each other Transaction Document to which it is a party has been (or upon delivery
will have been) duly executed by the Company and, when delivered in accordance with the terms hereof and thereof, will constitute the
valid and binding obligations of the Company enforceable against the Company in accordance with their terms, except: (i) as limited by
general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application
affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance,
injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable
law.

 

(d)
No Conflicts. The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents, the
issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby to which it is a party
do not and will not: (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles
of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default (or an event that
with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any of the properties or
assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration or cancellation (with or
without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary
debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the
Company or any Subsidiary is bound or affected, or (iii) conflict with or result in a violation of any law, rule, regulation, order,
judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject
(including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound
or affected.

 

(e)
Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any
notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other
Person in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the filing
of Form D with the Commission, and (ii) such filings as are required to be made under applicable state securities laws (collectively,
the “Required Approvals”).

 

(f)
Issuance of the Securities. The Securities are duly authorized and, when issued and paid for in accordance with the applicable
Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens other than those created
by the Purchaser. The Company has reserved from its duly authorized capital stock a number of shares of Common Stock for issuance of
the Underlying Shares at least equal the Required Minimum on the date hereof. In order to ensure such reservation the Company shall have
its Transfer Agent countersign the TA Letter, at the Closing. The failure to comply with the terms of this section shall be a material
breach of the agreement.

 

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(g)
Capitalization. As of the date hereof, the authorized capital stock of the Company consists of: (i) 250,000,000 shares of Common
Stock, of which approximately 154,851,540 shares are issued and outstanding; and (ii) 2,000,000 shares of preferred stock, of which 0
are issued and outstanding. Except as disclosed in the SEC Documents, no shares are reserved for issuance pursuant to the Company’s
stock option plans, no shares are reserved for issuance pursuant to securities (other than the Note and any other convertible promissory
note issued to the Buyer) exercisable for, or convertible into or exchangeable for shares of Common Stock. All of such outstanding shares
of capital stock are, or upon issuance will be, duly authorized, validly issued, fully paid and non-assessable. No shares of capital
stock of the Company are subject to preemptive rights or any other similar rights of the shareholders of the Company or any liens or
encumbrances imposed through the actions or failure to act of the Company. Except as disclosed in the SEC Documents, as of the effective
date of this Agreement, (i) there are no outstanding options, warrants, scrip, rights to subscribe for, puts, calls, rights of first
refusal, agreements, understandings, claims or other commitments or rights of any character whatsoever relating to, or securities or
rights convertible into or exchangeable for any shares of capital stock of the Company or any of its Subsidiaries, or arrangements by
which the Company or any of its Subsidiaries is or may become bound to issue additional shares of capital stock of the Company or any
of its Subsidiaries, (ii) there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to
register the sale of any of its or their securities under the 1933 Act and (iii) there are no anti-dilution or price adjustment provisions
contained in any security issued by the Company (or in any agreement providing rights to security holders) that will be triggered by
the issuance of the Note or the Conversion Shares.

 

(h)
Financial Statements. The Financial Statements have been prepared in accordance with GAAP. The Financial Statements fairly present
in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and
the results of operations and cash flows for the periods then ended, subject to normal, immaterial adjustments and inclusion of footnotes
which would be required pursuant to generally accepted accounting principles.

 

(i)
Material Changes; Undisclosed Events, Liabilities or Developments. Since the date of the most recently dated Financial Statements:
(i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse
Effect, (ii) the Company has not incurred any material liabilities (contingent or otherwise) other than trade payables and accrued expenses
incurred in the ordinary course of business consistent with past practice, (iii) the Company has not altered its method of accounting,
(iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed
or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities
to any officer, director or Affiliate.

 

(j)
Litigation. There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of
the Company, threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court,
arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an
“Action”) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction
Documents or the Securities or (ii) could have or reasonably be expected to result in a Material Adverse Effect. At no time, neither
the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation
of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and to the knowledge
of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former
director or officer of the Company. The Commission has not issued any stop order or other order suspending the effectiveness of any registration
statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.

 

(k)
Labor Relations. No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees
of the Company, which could reasonably be expected to result in a Material Adverse Effect. None of the Company’s or its Subsidiaries’
employees is a member of a union that relates to such employee’s relationship with the Company or such Subsidiary, and neither
the Company nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe
that their relationships with their employees are good. To the knowledge of the Company, no executive officer of the Company or any Subsidiary,
is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary
information agreement or non-competition agreement, or any other contract or agreement or any restrictive covenant in favor of any third
party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability
with respect to any of the foregoing matters. The Company and its Subsidiaries are in compliance with all U.S. federal, state, local
and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours,
except where the failure to be in compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect.

 

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(l)
Compliance. Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that
has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor
has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture,
loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound
(whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of any court, arbitrator
or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental
authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational
health and safety, product quality and safety and employment and labor matters, except in each case as could not have or reasonably be
expected to result in a Material Adverse Effect.

 

(m)
Regulatory Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate
federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses as presently conducted, and
as contemplated to be conducted, except where the failure to possess such permits could not reasonably be expected to result in a Material
Adverse Effect (“Material Permits”), and neither the Company nor any Subsidiary has received any notice of proceedings
relating to the revocation or modification of any Material Permit.

 

(n)
Title to Assets. The Company and the Subsidiaries have good and marketable title in all personal property owned by them that is
material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not
materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property
by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have
been made and, the payment of which is neither delinquent nor subject to penalties. The Company and Subsidiaries do not own any real
property. Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting
and enforceable leases with which the Company and the Subsidiaries are in compliance.

 

(o)
Intellectual Property.

 

(i)
The term “Intellectual Property Rights” includes:

 

1.
the name of the Company and each Subsidiary, all fictional business names, trading names, registered and unregistered trademarks, service
marks, and applications of the Company and each Subsidiary (collectively, “Marks’’);

 

2.
all patents, patent applications, and inventions and discoveries that may be patentable of the Company and each Subsidiary (collectively,
“Patents’’);

 

3.
all copyrights in both unpublished works and published works of the Company and each Subsidiary (collectively, “Copyrights”);

 

4.
all rights in mask works of the Company and each Subsidiary (collectively, “Rights in Mask Works’’);

 

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5.
all know-how, trade secrets, confidential information, customer lists, software, technical information, data, process technology, plans,
drawings, and blue prints (collectively, “Trade Secrets’’); owned, used, or licensed by the Company and each
Subsidiary as licensee or licensor; and

 

6.
the license or right to directly or indirectly use any of the foregoing, whether perpetually or for a fixed term, whether or not subject
to defeasement, and whether or not reduced to writing or otherwise memorialized.

 

(ii)
Know-How Necessary for the Business. The Intellectual Property Rights are all those necessary for the operation of the Company’s
businesses as it is currently conducted or contemplated to be conducted. The Company is the owner of all right, title, and interest in
and to each of the Intellectual Property Rights, free and clear of all liens, security interests, charges, encumbrances, equities, and
other adverse claims, and has the right to use all of the Intellectual Property Rights. To the Company’s knowledge, no employee
of the Company has entered into any contract that restricts or limits in any way the scope or type of work in which the employee may
be engaged or requires the employee to transfer, assign, or disclose information concerning his work to anyone other than of the Company.

 

(iii)
Patents. The Company is the owner of or licensee of all right, title and interest in and to each of the Patents, free and clear
of all Liens and other adverse claims. All of the issued Patents are currently in compliance with formal legal requirements (including
payment of filing, examination, and maintenance fees and proofs of working or use), are valid and enforceable, and are not subject to
any maintenance fees or taxes or actions falling due within ninety days after the Closing Date. No Patent has been or is now involved
in any interference, reissue, reexamination, or opposition proceeding. To the Company’s knowledge: (1) there is no potentially
interfering patent or patent application of any third party, and (2) no Patent is infringed or has been challenged or threatened in any
way. To the Company’s knowledge, none of the products manufactured and sold, nor any process or know-how used, by the Company infringes
or is alleged to infringe any patent or other proprietary right of any other Person.

 

(iv)
Trademarks. The Company is the owner of all right, title, and interest in and to each of the Marks, free and clear of all Liens
and other adverse claims. All Marks that have been registered with the United States Patent and Trademark Office are currently in compliance
with all formal legal requirements (including the timely post-registration filing of affidavits of use and incontestability and renewal
applications), are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days
after the Closing Date. No Mark has been or is now involved in any opposition, invalidation, or cancellation and, to the Company’s
knowledge, no such action is threatened with respect to any of the Marks. To the Company’s knowledge: (1) there is no potentially
interfering trademark or trademark application of any third party, and (2) no Mark is infringed or has been challenged or threatened
in any way. To the Company’s knowledge, none of the Marks used by the Company infringes or is alleged to infringe any trade name,
trademark, or service mark of any third party.

 

(v)
Copyrights. The Company is the owner of all right, title, and interest in and to each of the Copyrights, free and clear of all
Liens and other adverse claims. All the Copyrights have been registered and are currently in compliance with formal requirements, are
valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the date
of the Closing. No Copyright is infringed or, to the Company’s knowledge, has been challenged or threatened in any way. To the
Company’s knowledge, none of the subject matter of any of the Copyrights infringes or is alleged to infringe any copyright of any
third party or is a derivative work based on the work of a third party. All works encompassed by the Copyrights have been marked with
the proper copyright notice.

 

    	10

     

    

 

(vi)
Trade Secrets. With respect to each Trade Secret, the documentation relating to such Trade Secret is current, accurate, and sufficient
in detail and content to identify and explain it and to allow its full and proper use without reliance on the knowledge or memory of
any individual. The Company has taken all reasonable precautions to protect the secrecy, confidentiality, and value of its Trade Secrets.
The Company has good title and an absolute (but not necessarily exclusive) right to use the Trade Secrets. The Trade Secrets are not
part of the public knowledge or literature, and, to the Company’s knowledge, have not been used, divulged, or appropriated either
for the benefit of any Person (other the Company) or to the detriment of the Company. No Trade Secret is subject to any adverse claim
or has been challenged or threatened in any way.

 

(p)
Insurance. The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses
and risks and in such amounts as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged. Neither
the Company nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when
such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business without a significant
increase in cost. The Company has valid and subsisting insurance in compliance with all applicable legal requirements.

 

(q)
Transactions With Affiliates and Employees. Except as set forth in the Financial Statements and Transaction Documents, none of
the officers or directors of the Company or any Subsidiary and, to the knowledge of the Company, none of the employees of the Company
or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers
and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise requiring
payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director,
or any such employee has a substantial interest or is an officer, director, trustee, stockholder, member or partner.

 

(r)
Certain Fees. No brokerage, finder’s fees, commissions or due diligence fees are or will be payable by the Company or any
Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect
to the transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect to any such fees
or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.1(r) that may be
due in connection with the transactions contemplated by the Transaction Documents.

 

(s)
Investment Company. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Securities,
will not be or be an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended.
The Company shall conduct its business in a manner so that it will not become an “investment company” subject to registration
under the Investment Company Act of 1940, as amended. The Company is not aware of any person that has been or will be paid (directly
or indirectly) remuneration for solicitation of purchasers in connection with the sale of any Regulation D Securities.

 

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(t)
Application of Takeover Protections. As of the Closing Date, the Company will have taken all necessary action, if any, in order
to render inapplicable as of the Closing Date and thereafter any control share acquisition, business combinations, poison pill (including
any distribution under a rights agreement) or other similar anti-takeover provision under the Company’s certificate of incorporation
(or similar charter documents) or the laws of the State of Washington that is or could become applicable to the Purchasers as a result
of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including
without limitation as a result of the Company’s issuance of the Securities and the Purchasers’ ownership of the Securities.

 

(u)
Disclosure. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries,
their respective businesses and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, when taken
together as a whole, is true and correct in all material respects and does not contain any untrue statement of a material fact or omit
to state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were
made, not misleading. The Company acknowledges and agrees that no Purchaser makes or has made any representations or warranties with
respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2.

 

(v)
Tax Status. Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income
and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii)
has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such
returns, reports and declarations and (iii) has set aside on its books provision reasonably adequate for the payment of all material
taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material
amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company or of any Subsidiary know of no
basis for any such claim.

 

(w)
Foreign Corrupt Practices. Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any
agent or other person acting on behalf of the Company or any Subsidiary, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful
payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate
funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person acting on its behalf
of which the Company is aware) which is in violation of law or (iv) violated in any material respect any provision of FCPA.

 

(x)
Acknowledgment Regarding Purchasers’ Purchase of Securities. The Company acknowledges and agrees that each of the Purchasers
is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any similar
capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or
any of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated thereby
is merely incidental to the Purchasers’ purchase of the Securities. The Company further represents to each Purchaser that the Company’s
decision to enter into this Agreement and the other Transaction Documents has been based solely on the independent evaluation of the
transactions contemplated hereby by the Company and its representatives.

 

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(y)
Money Laundering. The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended,
applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering Laws”),
and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company
or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any Subsidiary, threatened.

 

(z)
Office of Foreign Assets Control. Neither the Company nor any Subsidiary nor, to the Company’s knowledge, any director,
officer, agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”).

 

(aa)
Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3.2, no
registration under the Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated
hereby.

 

(bb)
No General Solicitation or Integration. To the best knowledge of the Company, neither the Company nor any person acting on behalf
of the Company has offered or sold any of the Securities by any form of general solicitation or general advertising. To the best knowledge
of the Company, the Company has offered the Securities for sale only to the Purchasers and certain other “accredited investors”
within the meaning of Rule 501 under the Securities Act.

 

(cc)
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive officer,
other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s outstanding
voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities
Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person” and, together,
“Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i)
to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered by Rule
506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification
Event. The Company has complied, to the extent applicable, with its disclosure obligations under Rule 506(e), and has furnished to the
Purchasers a copy of any disclosures provided thereunder. The Company will notify the Purchasers in writing, prior to the Closing Date
of (i) any Disqualification Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become
a Disqualification Event relating to any Issuer Covered Person.

 

(dd)
Reporting Company/Shell Company. The Company is a publicly-held company subject to reporting obligations pursuant to Sections
12(g) and 13 of the Exchange Act. As of the Closing Date, the Company is not a “shell company” as that term is employed in
Rule 144 under the Securities Act. The Company is a former shell company but has met each of the requirements under Rule 144(i)(2).

 

(ee)
Survival. The foregoing representations and warranties shall survive the Closing Date.

 

    	13

     

    

 

3.2
Representations and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby represents and
warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein):

 

(a)
Organization; Authority. Such Purchaser is either an individual or an entity duly incorporated or formed, validly existing and
in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited
liability company or similar power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents
and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance
by such Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate,
partnership, limited liability company or similar action, as applicable, on the part of such Purchaser. Each Transaction Document to
which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof,
will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except:
(i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific
performance, injunctive relief or other equitable remedies and (iii) to the extent the indemnification provisions contained in this Agreement
may be limited by applicable law.

 

(b)
Understandings or Arrangements. Such Purchaser understands that the Securities are “restricted securities” and have
not been registered under the Securities Act or any applicable state securities law and is acquiring the Securities as principal for
its own account and not with a view to or for distributing or reselling such Securities or any part thereof in violation of the Securities
Act or any applicable state securities law, has no present intention of distributing any of such Securities in violation of the Securities
Act or any applicable state securities law and has no direct or indirect arrangement or understandings with any other persons to distribute
or regarding the distribution of such Securities in violation of the Securities Act or any applicable state securities law (this representation
and warranty not limiting such Purchaser’s right to sell the Securities pursuant to a registration statement or otherwise in compliance
with applicable federal and state securities laws). Such Purchaser is acquiring the Securities hereunder in the ordinary course of its
business.

 

(c)
Purchaser Status. At the time such Purchaser was offered the Securities, it was, and as of the date hereof it is, and on each
date on which it converts a Note or exercises any Warrants, it will be either: (i) an “accredited investor” as defined in
Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a “qualified institutional buyer” as defined
in Rule 144A(a) under the Securities Act. Such Purchaser is not required to be registered as a broker-dealer under Section 15 of the
Exchange Act. Such Purchaser has the authority and is duly and legally qualified to purchase and own the Securities. Such Purchaser is
able to bear the risk of such investment for an indefinite period and to afford a complete loss thereof.

 

(d)
Experience of Such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of
an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

(e)
Information on Company. Purchasers are not deemed to have any knowledge of any information not included in the Financial Statements
or the Transaction Documents unless such information is delivered in the manner described in the next sentence. Each Purchaser was afforded
(i) the opportunity to ask such questions as such Purchaser deemed necessary of, and to receive answers from, representatives of the
Company concerning the merits and risks of acquiring the Securities; (ii) the right of access to information about the Company and its
financial condition, results of operations, business, properties, management and prospects sufficient to enable such Purchaser to evaluate
the Securities; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable
effort or expense that is necessary to make an informed investment decision with respect to acquiring the Securities. In addition, such
Purchaser may have received in writing from the Company such other information concerning its operations, financial condition and other
matters as such Purchaser has requested, identified thereon as OTHER WRITTEN INFORMATION (such other information is collectively, the
“Other Written Information”), and considered all factors such Purchaser deems material in deciding on the advisability
of investing in the Securities.

 

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(f)
Compliance with Securities Act; Reliance on Exemptions. Such Purchaser understands and agrees that the Securities have not been
registered under the 1933 Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require
registration under the 1933 Act, and that such Securities must be held indefinitely unless a subsequent disposition is registered under
the 1933 Act or any applicable state securities laws or is exempt from such registration. Such Purchaser understands and agrees that
the Securities are being offered and sold to such Purchaser in reliance on specific exemptions from the registration requirements of
United States federal and state securities laws and regulations and that the Company is relying in part upon the truth and accuracy of,
and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of such Purchaser
set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser to acquire the Securities.

 

(g)
Communication of Offer. Such Purchaser is not purchasing the Securities as a result of any “general solicitation”
or “general advertising,” as such terms are defined in Regulation D, which includes, but is not limited to, any advertisement,
article, notice or other communication regarding the Securities published in any newspaper, magazine or similar media or on the internet
or broadcast over television, radio or the internet or presented at any seminar or any other general solicitation or general advertisement.

 

(h)
No Governmental Review. Such Purchaser understands that no United States federal or state agency or any other governmental or
state agency has passed on or made recommendations or endorsement of the Securities or the suitability of the investment in the Securities
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(i)
No Conflicts. The execution, delivery and performance of this Agreement and performance under the other Transaction Documents
and the consummation by such Purchaser of the transactions contemplated hereby and thereby or relating hereto or thereto do not and will
not (i) result in a violation of such Purchaser’s charter documents, bylaws or other organizational documents, if applicable, (ii)
conflict with nor constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement
to which such Purchaser is a party, nor (iii) result in a violation of any law, rule, or regulation, or any order, judgment or decree
of any court or governmental agency applicable to such Purchaser or its properties (except for such conflicts, defaults and violations
as would not, individually or in the aggregate, have a material adverse effect on such Purchaser). Such Purchaser is not required to
obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for
it to execute, deliver or perform any of its obligations under this Agreement or perform under the other Transaction Documents nor to
purchase the Securities in accordance with the terms hereof, provided that for purposes of the representation made in this sentence,
such Purchaser is assuming and relying upon the accuracy of the relevant representations and agreements of the Company herein.

 

(j)
Survival. The foregoing representations and warranties shall survive the Closing Date for 30 days.

 

3.3
Reliance. The Company acknowledges and agrees that the representations contained in Section 3.2 shall not modify, amend or affect
such Purchaser’s right to rely on the Company’s representations and warranties contained in this Agreement or any representations
and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection
with this Agreement or the consummation of the transaction contemplated hereby.

 

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ARTICLE
IV.

OTHER
AGREEMENTS OF THE PARTIES

 

4.1
Transfer Restrictions.

 

(a)
Disposition of Securities. The Securities may only be disposed of in compliance with state and federal securities laws. In connection
with any transfer of Securities other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate
of a Purchaser or in connection with a pledge as contemplated in Section 4.1(b), the Company may require the transferor thereof to provide
to the Company at the Company’s expense, an opinion of counsel selected by the transferor and reasonably acceptable to the Company,
the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require
registration of such transferred Securities under the Securities Act. As a condition of transfer, any such transferee shall agree in
writing to be bound by the terms of this Agreement and shall have the rights and obligations of a Purchaser under the Transaction Documents
and registration statement, if any.

 

(b)
Legend. The Purchasers agree to the imprinting, so long as is required by this Section 4.1, of a legend on any of the Securities
in the following form:

 

[NEITHER]
THIS SECURITY [NOR THE SECURITIES INTO WHICH THIS SECURITY IS [EXERCISABLE] [CONVERTIBLE]] HAS [NOT] 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 (THE “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. THIS SECURITY [AND THE SECURITIES
ISSUABLE UPON [EXERCISE] [CONVERSION] OF THIS SECURITY] MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED
BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER
THE SECURITIES ACT OR OTHER LOAN SECURED BY SUCH SECURITIES.

 

(c)
Pledge. The Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement
with a registered broker-dealer or grant a security interest in some or all of the Securities to a financial institution that is an “accredited
investor” as defined in Rule 501(a) under the Securities Act and who agrees to be bound by the provisions of this Agreement and,
if required under the terms of such arrangement, such Purchaser may transfer pledge or secure Securities to the pledgees or secured parties.
Such a pledge or transfer would not be subject to approval of the Company and no legal opinion of legal counsel of the pledgee, secured
party or pledgor shall be required in connection therewith. At such Purchaser’s expense, the Company will execute and deliver such
reasonable documentation as a pledgee or secured party of Securities may reasonably request in connection with a pledge or transfer of
the Securities, including, if the Securities are subject to registration pursuant to the registration statement, the preparation and
filing of any required prospectus supplement under Rule 424(b)(3) under the Securities Act or other applicable provision of the Securities
Act to appropriately amend the list of selling stockholders thereunder.

 

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(d)
Legend Removal. Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”)
(including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is
effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying
Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information
required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not
required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff
of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed
conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised
at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying
Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including
judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of
all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no
later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing
Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”),
deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other
legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company
may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth
in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent
to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed
by such Purchaser.

 

(e)
Legend Removal Default. In addition to such Purchaser’s other available remedies, provided the conditions for legend removal
set forth in Section 4.1(c) exist, the Company shall pay to a Purchaser, in cash, as partial liquidated damages and not as a penalty,
for each $1,000 of Underlying Shares (based on the higher of the actual purchase price of the Common Stock on the date such Securities
are submitted to the Transfer Agent) delivered for removal of the restrictive legend and subject to Section 4.1(d), $10 per Trading Day
for each Trading Day after the Legend Removal Date until such certificate is delivered without a legend. Nothing herein shall limit such
Purchaser’s right to pursue actual damages for the Company’s failure to deliver certificates representing any Securities
as required by the Transaction Documents, and such Purchaser shall have the right to pursue all remedies available to it at law or in
equity including, without limitation, a decree of specific performance and/or injunctive relief.

 

(f)
DWAC. Commencing after the Closing, in lieu of delivering physical certificates representing the Unlegended Shares, upon request
of a Purchaser, so long as the certificates therefor do not bear a legend and the Purchaser is not obligated to return such certificate
for the placement of a legend thereon, the Company shall cause its transfer agent to electronically transmit the Unlegended Shares by
crediting the account of Purchaser’s prime broker with the Depository Trust Company through its Deposit Withdrawal At Custodian
system, provided that the Company’s Common Stock is DTC eligible and the Company’s transfer agent participates in the Deposit
Withdrawal at Custodian system. Such delivery must be made on or before the Legend Removal Date.

 

(g)
Resale Requirements. Each Purchaser, severally and not jointly with the other Purchasers, agrees with the Company that such Purchaser
will sell the Securities pursuant to either the registration requirements of the Securities Act, including any applicable prospectus
delivery requirements, or an exemption therefrom, and that if Securities are sold pursuant to a registration statement, they will be
sold in compliance with the plan of distribution set forth therein, and acknowledges that the removal of the restrictive legend from
certificates representing Securities as set forth in this Section 4.1 is predicated upon the Company’s reliance upon this understanding.

 

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(h)
Remedies. In addition to such Purchaser’s other available remedies, the Company shall pay to a Purchaser, in cash, as partial
liquidated damages and not as a penalty, for each $1,000 of Conversion Shares or Warrant Shares delivered for removal of the restrictive
legend and Conversion Shares delivered for conversion into Shares, $10 per Trading Day for each Trading Day following the Legend Removal
Date or the date such Securities are to be delivered pursuant to the Note until such Common Stock certificate is delivered without a
legend pursuant to Section 4.1(c) or such Conversion Shares. Nothing herein shall limit such Purchaser’s right to elect in lieu
of the aforedescribed liquidated damages to pursue actual damages for the Company’s failure to deliver certificates representing
any Underlying Shares as required by the Transaction Documents, and such Purchaser shall have the right to pursue all remedies available
to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief.

 

(i)
Injunction. In the event a Purchaser shall request delivery of Securities as described in this Section 4.1 or Common Stock pursuant
to the Note and the Company is required to deliver such Securities, the Company may not refuse to deliver Securities based on any claim
that such Purchaser or anyone associated or affiliated with such Purchaser has not complied with Purchaser’s obligations under
the Transaction Documents, or for any other reason, unless, an injunction or temporary restraining order from a court, on notice, restraining
and or enjoining delivery of such unlegended shares shall have been sought and obtained by the Company and the Company has posted a surety
bond for the benefit of such Purchaser in the amount of 120% of the amount of the aggregate purchase price of the Securities intended
to be subject to the injunction or temporary restraining order, which bond shall remain in effect until the completion of arbitration/litigation
of the dispute and the proceeds of which shall be payable to such Purchaser to the extent Purchaser obtains judgment in Purchaser’s
favor.

 

(j)
Buy-In. In addition to any other rights available to Purchaser, if the Company fails to deliver to a Purchaser Securities as required
pursuant to this Agreement or the Note and after the Legend Removal Date or required delivery date pursuant to the Note the Purchaser,
or a broker on the Purchaser’s behalf, purchases (in an open market transaction or otherwise) shares of Common Stock to deliver
in satisfaction of a sale by such Purchaser of the shares of Common Stock which the Purchaser was entitled to receive in unlegended form
from the Company (a “Buy-In”), then the Company shall promptly pay in cash to the Purchaser (in addition to any remedies
available to or elected by the Purchaser) the amount, if any, by which (A) the Purchaser’s total purchase price (including brokerage
commissions, if any) for the shares of Common Stock so purchased exceeds (B) the aggregate purchase price of the shares of Common Stock
delivered to the Company for reissuance as unlegended Shares or as are required to be delivered pursuant to the Note, as the case may
be, together with interest thereon at a rate of 15% per annum accruing until such amount and any accrued interest thereon is paid in
full (which amount shall be paid as liquidated damages and not as a penalty). For example, if a Purchaser purchases shares of Common
Stock having a total purchase price of $11,000 to cover a Buy-In with respect to $10,000 of purchase price of Shares delivered to the
Company for reissuance as unlegended shares, the Company shall be required to pay the Purchaser $1,000, plus interest, if any. The Purchaser
shall provide the Company written notice indicating the amounts payable to the Purchaser in respect of the Buy-In.

 

4.2
Acknowledgment of Dilution. The Company acknowledges that the issuance of the Securities may result in dilution of the outstanding
shares of Common Stock, which dilution may be substantial under certain market conditions. The Company further acknowledges that its
obligations under the Transaction Documents, including, without limitation, its obligation to issue the Underlying Shares pursuant to
the Transaction Documents, are unconditional and absolute and not subject to any right of set off, counterclaim, delay or reduction,
regardless of the effect of any such dilution or any claim the Company may have against any Purchaser and regardless of the dilutive
effect that such issuance may have on the ownership of the other stockholders of the Company.

 

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4.3
Furnishing of Information.

 

(a)
At any time commencing on the Closing Date and ending at the earliest of the time that no Purchaser owns Securities, the Company covenants
to file all periodic reports with the Commission pursuant to Section 15(d) of the Exchange Act and under Section 12(b) or 12(g) of the
1934 Act, maintain the registration of the Common Stock under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain
extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the
date hereof pursuant to the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange Act.

 

(b)
At any time commencing on the Closing Date and ending at such time that all of the Securities may be sold without the requirement for
the Company to be in compliance with Rule 144(c)(1) and otherwise without restriction or limitation pursuant to Rule 144, if the Company
shall fail for any reason to satisfy the current public information requirement under Rule 144(c) (a “Public Information Failure”)
then, in addition to such Purchaser’s other available remedies, the Company shall pay to a Purchaser, in cash, as partial liquidated
damages and not as a penalty, by reason of any such delay in or reduction of its ability to sell the Securities, an amount in cash equal
to two percent (2.0%) of the aggregate principal amount of Notes and accrued interest held by such Purchaser on the day of a Public Information
Failure and on every thirtieth (30th) day (pro-rated for periods totaling less than thirty days) thereafter until the earlier of (a)
the date such Public Information Failure is cured and (b) such time that such public information is no longer required for the Purchasers
to transfer the Underlying Shares pursuant to Rule 144. The payments to which a Purchaser shall be entitled pursuant to this Section
4.2(b) are referred to herein as “Public Information Failure Payments.” Public Information Failure Payments shall be paid
on the earlier of (i) the last day of the calendar month during which such Public Information Failure Payments are incurred and (ii)
the third (3rd) Business Day after the event or failure giving rise to the Public Information Failure Payments is cured. In the event
the Company fails to make Public Information Failure Payments in a timely manner, such Public Information Failure Payments shall bear
interest at the rate of 1.5% per month (prorated for partial months) until paid in full. Nothing herein shall limit such Purchaser’s
right to pursue actual damages for the Public Information Failure, and such Purchaser shall have the right to pursue all remedies available
to it at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief.

 

4.4
Conversion and Exercise Procedures. Each of the form of Notice of Conversion attached to the Note and form of Notice of Exercise
included in the Warrant sets forth the totality of the procedures required of the Purchasers in order to convert the Note or exercise
the Warrant. No additional legal opinion, other information or instructions shall be required of the Purchasers to convert their Note
or exercise their Warrant. The Company shall honor conversions of the Note and exercises of the Warrants and shall deliver Underlying
Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.

 

4.5
Reservation and Listing of Securities.

 

(a)
The Company shall maintain a reserve from its duly authorized shares of Common Stock for issuance pursuant to the Transaction Documents
in such amount as may then be required to fulfill its obligations in full under the Transaction Documents, but not less than the Required
Minimum.

 

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(b)
If, on any date, the number of authorized but unissued (and otherwise unreserved) shares of Common Stock is less than the Required Minimum
on such date, then the Board of Directors shall amend the Company’s certificate or articles of incorporation to increase the number
of authorized but unissued shares of Common Stock to at least the Required Minimum at such time, as soon as possible and in any event
not later than the 60th day after such date. In the event of a shortfall in the Required Minimum, any shares reserved for
issuance to the Company’s officers and directors (not including Purchasers, if applicable) will be made available for issuance
to the Purchasers.

 

4.6
Equal Treatment of Purchasers. No consideration (including any modification of any Transaction Document) shall be offered or paid
to any Person to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same or
substantially similar consideration is also offered, mutatis mutandis, on a ratable basis to all of the parties to this Agreement.
For clarification purposes, this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately
by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in any way be construed as the Purchasers
acting in concert or as a group with respect to the purchase, disposition or voting of Securities or otherwise.

 

4.7
Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
(as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Securities in a manner that would
require the registration under the Securities Act of the sale or resale of the Securities.

 

4.8
Reimbursement. If any Purchaser becomes involved in any capacity in any Proceeding by or against any Person who is a stockholder
of the Company (except as a result of sales, pledges, margin sales and similar transactions by such Purchaser to or with any current
stockholder), solely as a result of such Purchaser’s acquisition of the Securities under this Agreement, the Company will reimburse
such Purchaser for its reasonable legal and other expenses (including the cost of any investigation preparation and travel in connection
therewith) incurred in connection therewith, as such expenses are incurred. The reimbursement obligations of the Company under this paragraph
shall be in addition to any liability which the Company may otherwise have, shall extend upon the same terms and conditions to any Affiliates
of the Purchasers who are actually named in such action, proceeding or investigation, and partners, directors, agents, employees and
controlling persons (if any), as the case may be, of the Purchasers and any such Affiliate, and shall be binding upon and inure to the
benefit of any successors, assigns, heirs and personal representatives of the Company, the Purchasers and any such Affiliate and any
such Person. The Company also agrees that neither the Purchasers nor any such Affiliates, partners, directors, agents, employees or controlling
persons shall have any liability to the Company or any Person asserting claims on behalf of or in right of the Company solely as a result
of acquiring the Securities under this Agreement.

 

4.9
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by the Transaction
Documents, the Company covenants and agrees that neither it, nor any other Person acting on its behalf, will provide any Purchaser or
its agents or counsel with any information that the Company believes constitutes material non-public information, unless prior thereto
such Purchaser shall have entered into a written agreement with the Company regarding the confidentiality and use of such information.
The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities
of the Company.

 

4.10
Securities Laws Disclosure; Publicity. The Company shall by 9:00 a.m. (New York City time) on day following the Closing Date,
file a Current Report on Form 8-K including the Transaction Documents as exhibits thereto (the “Closing Form 8-K”
mutatis mutandem) or include the Transaction Documents within a Registration Statement on Form S-1.

 

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4.11
Par Value. In the event the Conversion Price of the Notes is reduced below the par value of the common stock, the Company shall
within 30 days thereafter, reduce the par value of its common stock so that the Conversion Price shall be greater than the par value
of the Common Stock.

 

4.12
Indemnification of Purchasers. Subject to the provisions of this Section 4.6, the Company will indemnify and hold each Purchaser and
its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent
role of a Person holding such titles notwithstanding a lack of such title or any other title), each Person who controls such Purchaser
(within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders,
agents, members, partners or employees (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
a lack of such title or any other title) of such controlling persons (each, a “Purchaser Party”) harmless from any and all
losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements,
court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result
of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement
or in the other Transaction Documents or (b) any action instituted against Purchaser Parties in any capacity, or any of them or their
respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with respect to any of the
transactions contemplated by the Transaction Documents (unless such action is based upon a breach of such Purchaser Party’s representations,
warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser Party may have with any such
stockholder or any violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which
constitutes fraud, gross negligence, willful misconduct or malfeasance). If any action shall be brought against any Purchaser Party in
respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing,
and the Company shall have the right to assume the defense thereof with counsel of its own choosing reasonably acceptable to the Purchaser
Party. Any Purchaser 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 Purchaser Party except to the extent that (i) the employment
thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to
assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material conflict
on any material issue between the position of the Company and the position of such Purchaser Party, in which case the Company shall be
responsible for the reasonable fees and expenses of no more than one such separate counsel. The Company will not be liable to any Purchaser
Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company’s prior written consent, which
shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is
attributable to any Purchaser Party’s breach of its representations, warranties or covenants under the Transaction Documents. The
indemnification required by this Section 4.6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall be in addition to any cause
of action or similar right of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant
to law.

 

4.13
Form D; Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Securities as required under Regulation
D and to provide a copy thereof, promptly upon request of any Purchaser. The Company shall take such action as the Company shall reasonably
determine is necessary in order to obtain an exemption for, or to qualify the Securities for, sale to the Purchasers at the Closing under
applicable securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions promptly
upon request of any Purchaser.

 

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4.14
Most Favored Nation Provision. From the date hereof and for so long as a Purchaser holds any Securities, in the event that the
Company issues or sells any Common Stock or Common Stock Equivalents, if a Purchaser then holding outstanding Securities reasonably believes
that any of the terms and conditions appurtenant to such issuance or sale are more favorable to such investors than are the terms and
conditions granted to the Purchasers hereunder, upon notice to the Company by such Purchaser, the Company shall amend the terms of this
transaction as to such Purchaser only so as to give such Purchaser the benefit of such more favorable terms or conditions. This Section
shall not apply with respect to an Exempt Issuance. The Company shall provide each Purchaser with notice of any such issuance or sale
not later than ten (10) Trading Days before such issuance or sale.

 

4.15
Preservation of Corporate Existence. Until the End Date, the Company shall preserve and maintain its corporate existence, rights,
privileges and franchises in the jurisdiction of its incorporation, and qualify and remain qualified, as a foreign corporation in each
jurisdiction in which such qualification is necessary in view of its business or operations and where the failure to qualify or remain
qualified might reasonably have a Material Adverse Effect upon the financial condition, business or operations of the Company taken as
a whole.

 

4.16
Shareholder Rights Plan. No claim will be made or enforced by the Company or, with the consent of the Company, any other Person,
that any Purchaser is an “Acquiring Person” under any control share acquisition, business combination, poison pill
(including any distribution under a rights agreement) or similar anti-takeover plan or arrangement in effect or hereafter adopted by
the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving
Securities under the Transaction Documents.

 

4.17
Piggy-Back Registrations. If at any time until two years after the Closing Date there is not an effective registration statement
covering all of the Conversion Shares and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the 1933 Act of any of its equity securities, but excluding
Forms S-4 or S-8 and similar forms which do not permit such registration, then the Company shall send to each holder of any of the Securities
written notice of such determination and, if within fifteen calendar days after receipt of such notice, any such holder shall so request
in writing, the Company shall include in such registration statement all or any part of the Conversion Shares such holder requests to
be registered, subject to customary underwriter cutbacks applicable to all holders of registration rights and any cutbacks in accordance
with guidance provided by the Securities and Exchange Commission (including, but not limited to, Rule 415). The obligations of the Company
under this Section may be waived by any holder of any of the Securities entitled to registration rights under this Section. The holders
whose Conversion Shares are included or required to be included in such registration statement are granted the same rights, benefits,
liquidated or other damages and indemnification granted to other holders of securities included in such registration statement. Notwithstanding
anything to the contrary herein, the registration rights granted hereunder to the holders of Securities shall not be applicable for such
times as such Conversion Shares may be sold by the holder thereof without restriction pursuant to Section 144(b)(1) of the 1933 Act.
In no event shall the liability of any holder of Securities or permitted successor in connection with any Conversion Shares included
in any such registration statement be greater in amount than the dollar amount of the net proceeds actually received by such Subscriber
upon the sale of the Conversion Shares sold pursuant to such registration or such lesser amount in proportion to all other holders of
Securities included in such registration statement. All expenses incurred by the Company in complying with this Section, including, without
limitation, all registration and filing fees, printing expenses (if required), fees and disbursements of counsel and independent public
accountants for the Company, fees and expenses (including reasonable counsel fees) incurred in connection with complying with state securities
or “blue sky” laws, fees of the NASD, transfer taxes, and fees of transfer agents and registrars, are called “Registration
Expenses.” All underwriting discounts and selling commissions applicable to the sale of registrable securities are called “Selling
Expenses.” The Company will pay all Registration Expenses in connection with the registration statement under this Section. Selling
Expenses in connection with each registration statement under this Section shall be borne by the holder and will be apportioned among
such holders in proportion to the number of Shares included therein for a holder relative to all the Securities included therein for
all selling holders, or as all holders may agree.

 

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4.18
Subsequent Equity Sales. From the date hereof until the Notes are no longer outstanding, the Company will not, without the consent
of the Purchasers, enter into any Equity Line of Credit or similar agreement nor issue nor agree to issue any common stock at a per share
price less than the then in effect Conversion Price, floating or Variable Priced Equity Linked Instruments nor any of the foregoing or
equity with price reset rights (subject to adjustment for stock splits, distributions, dividends, recapitalizations and the like) (collectively,
the “Variable Rate Transaction”). For purposes hereof, “Equity Line of Credit” shall include any transaction
involving a written agreement between the Company and an investor or underwriter whereby the Company has the right to “put”
its securities to the investor or underwriter over an agreed period of time and at an agreed price or price formula, and “Variable
Priced Equity Linked Instruments” shall include: (A) any debt or equity securities which are convertible into, exercisable or exchangeable
for, or carry the right to receive additional shares of Common Stock either (1) at any conversion, exercise or exchange rate or other
price that is based upon and/or varies with the trading prices of or quotations for Common Stock at any time after the initial issuance
of such debt or equity security, or (2) with a fixed conversion, exercise or exchange price that is subject to being reset at some future
date at any time after the initial issuance of such debt or equity security due to a change in the market price of the Company’s
Common Stock since date of initial issuance, and (B) any amortizing convertible security which amortizes prior to its maturity date,
where the Company is required or has the option to (or any investor in such transaction has the option to require the Company to) make
such amortization payments in shares of Common Stock which are valued at a price that is based upon and/or varies with the trading prices
of or quotations for Common Stock at any time after the initial issuance of such debt or equity security (whether or not such payments
in stock are subject to certain equity conditions). For purposes of determining the total consideration for a convertible instrument
(including a right to purchase equity of the Company) issued, subject to an original issue or similar discount or which principal amount
is directly or indirectly increased after issuance, the consideration will be deemed to be the actual net cash amount received by the
Company in consideration of the original issuance of such convertible instrument. Until thirty-six (36) months after the Closing Date,
the Company will not issue any Common Stock or Common Stock Equivalents to officers, directors, employees, consultants and service providers
of the Company except consistent with past practices. For so long as the Notes are outstanding, the Company will not amend the terms
of any securities or Common Stock Equivalents or of any agreement outstanding or in effect as of the date of this Agreement or at any
time thereafter, pursuant to which same were or may be acquired, if such issuance or the result of such amendment would be at an effective
price per share of Common Stock less than the Conversion Price in effect at the time of such amendment.

 

ARTICLE
V.

MISCELLANEOUS

 

5.1
Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without
any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the
Closing has not been consummated on or before January 31, 2020; provided, however, that such termination will not affect
the right of any party to sue for any breach by any other party or parties.

 

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5.2
Fees and Expenses. Each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any,
and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.
The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Securities
to the Purchasers. The Company agrees to pay counsel to the Purchasers the amount of $1,000 (“Legal Fees”), incurred in connection
with the preparation, execution and delivery of the Transaction Documents and Closing.

 

5.3
Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding
of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written,
with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.4
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be
in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified,
return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted
by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most
recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a)
upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the
first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:
(i) if to the Company, to: COROWARE, Inc., 13110 NE 177th Place, Suite 293, Woodinville, WA 98072 Attn: Lloyd Spencer, email:
Lloyd.spencer@deepgreenwaste.com, and (ii) if to the Purchasers, to: the addresses and fax numbers indicated on the signature
page hereto.

 

5.5
Amendments; Waivers. No provision of this Agreement nor any other Transaction Document may be waived, modified, supplemented or
amended nor consent obtained or approval deemed granted except in a written instrument signed, in the case of an amendment, by the Company
and the Purchasers or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. No waiver
of any default with respect to any provision, condition or requirement of this Agreement nor any other Transaction Document shall be
deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or
requirement thereof, nor shall any delay or omission of any party to exercise any right thereunder in any manner impair the exercise
of any such right. Any Purchaser may waive in writing any right or benefit granted to or available to such Purchaser pursuant to the
Transaction Documents.

 

5.6
Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to
limit or affect any of the provisions hereof.

 

5.7
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and
permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent
of each Purchaser (other than by merger). Following the Closing, any Purchaser may assign any or all of its rights under this Agreement
to any Person to whom such Purchaser assigns or transfers any Securities, provided that such transferee agrees in writing to be bound
with respect to the transferred Securities by the provisions of the Transaction Documents that apply to the “Purchasers”
and is able to make each and every representation made by Purchasers in this Agreement.

 

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5.8
No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise
set forth in Section 4.10.

 

5.9
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed
by and construed and enforced in accordance with the internal laws of the State of Washington, without regard to the principles of conflict
of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the transactions
contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers,
shareholders, employees or agents) shall be commenced in the state and federal courts sitting in the City of Seattle, County of King
(the “Washington Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the Washington
Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed
herein (including with respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not
to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such Washington Courts,
or such Washington Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service
of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof 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 Note 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 other manner permitted by applicable 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 Note or the transactions contemplated hereby. If any party shall commence an action or proceeding to enforce any
provisions of this Note, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

5.10
Survival. The representations and warranties contained herein shall survive the Closing and the delivery of the Securities.

 

5.11
Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party,
it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission
or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

5.12
Severability. If any term, provision, covenant or restriction of any Transaction Document is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall
remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable.

 

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5.13
Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions
of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Purchaser may,
at any time prior to the Company’s performance of such obligations, rescind or withdraw, in its sole discretion from time to time
upon written notice to the Company, any relevant notice, demand or election in whole or in part without prejudice to its future actions
and rights; provided, however, that in the case of a rescission of a conversion of a Note or exercise of a Warrant, the
applicable Purchaser shall be required to return any shares of Common Stock subject to any such rescinded conversion or exercise notice
concurrently with the return to such Purchaser of the aggregate exercise price paid to the Company for such shares and the restoration
of such Purchaser’s right to acquire such shares pursuant to such Purchaser’s Note or Warrant (including, issuance of a replacement
warrant certificate evidencing such restored right).

 

5.14
Replacement of Securities. If any certificate or instrument evidencing any Securities is mutilated, lost, stolen or destroyed,
the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation),
or in lieu of and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to
the Company of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also
pay any reasonable costs (including customary indemnity) associated with the issuance of such replacement Securities.

 

5.15
Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages,
each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that
monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in the Transaction
Documents and hereby agree to waive and not to assert in any action for specific performance of any such obligation the defense that
a remedy at law would be adequate. The Company’s obligations to pay any partial liquidated damages or other amounts owing under
the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages
and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages
or other amounts are due and payable shall have been canceled.

 

5.16
Payment Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any Transaction Document
or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise
or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by
or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including,
without limitation, any bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such
restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such enforcement or setoff had not occurred.

 

5.17
Usury. To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever
claim, and will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at
any time hereafter in force, in connection with any claim, action or proceeding that may be brought by any Purchaser in order to enforce
any right or remedy under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction Document,
it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments in the nature
of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”), and, without
limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated with any other sums
in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such Maximum Rate. It is agreed
that if the maximum contract rate of interest allowed by law and applicable to the Transaction Documents is increased or decreased by
statute or any official governmental action subsequent to the date hereof, the new maximum contract rate of interest allowed by law will
be the Maximum Rate applicable to the Transaction Documents from the effective date thereof forward, unless such application is precluded
by applicable law. If under any circumstances whatsoever, interest in excess of the Maximum Rate is paid by the Company to any Purchaser
with respect to indebtedness evidenced by the Transaction Documents, such excess shall be applied by such Purchaser to the unpaid principal
balance of any such indebtedness or be refunded to the Company, the manner of handling such excess to be at such Purchaser’s election.

 

    	26

     

    

 

5.18
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 Business Day, then such action may be taken or such right may be exercised on the next succeeding Business
Day.

 

5.19
Construction. The parties agree that each of them and/or their respective counsel have reviewed and had an opportunity to revise
the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each
and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse
and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the
date of this Agreement.

 

5.20
WAIVER OF JURY TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY,
THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY,
IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

5.21
Equitable Adjustment. The Conversion Price trading volume amounts, price/volume amounts and similar figures in the Transaction
Documents shall be equitably adjusted (but without duplication) to offset the effect of stock splits, similar events and as otherwise
described in the Transaction Documents.

 

(Signature
Pages Follow)

 

    	27

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

 

	COROWARE, INC.	 
	 	 
	By:	 	 
	Name:	Lloyd Spencer	 
	Title:	CEO	 

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK;

SIGNATURE
PAGE FOR PURCHASER FOLLOWS]

 

    	28

     

    

 

[PURCHASER
SIGNATURE PAGE TO COROWARE, INC.

SECURITIES
PURCHASE AGREEMENT]

 

IN
WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

Name
of Purchaser: RPG Capital Partners____________________________

 

Signature
of Authorized Signatory of Purchaser: ______________________________________________

 

Name
of Authorized Signatory: Robert Papiri______________________________________

 

Title
of Authorized Signatory: President___________________________________________________

 

Email
Address of Authorized Signatory: robertpapiri@gmail.com

 

Facsimile
Number of Authorized Signatory: ___________________________________

 

Address
for Notice to Purchaser:

 

PO
110672

Campbell,
CA 95001

 

Address
for Delivery of Securities to Purchaser (if not same as address for notice):

 

_____________________________________________________________________________

 

______________________________________________________________________________

 

______________________________________________________________________________

 

Subscription
Amount: $1,500.00

 

Note
Principal (Subscription Amount *1.17): $1,500.00

 

Warrants:
2,857,143

 

EIN
Number, if applicable, will be provided under separate cover.

 

    	29

     

    

 

EXHIBITS

 

	Exhibit
    A	Form
    of Note
	Exhibit
    B	Form
    of Warrant
	Exhibit
    C	TA
    Letter

 

    	30Exhibit
10.25

 

		Master
    Subcontractor Agreement	 

 

This
Master Subcontractor Agreement is made as of January 24, 2022, between CarbonMeta Technologies, Inc., a Delaware corporation whose
principal place of business is located at 13110 NE 177th Place, #293, Woodinville, Washington 98072, USA, and all of its subsidiaries,
including CarbonMeta Research Ltd. (United Kingdom) and Carbon Source Inc. (USA) (“CARBONMETA”), and and Elder and Associates,
LLC, a Virginia limited liability corporation, whose place of business is located at 10289 Latney Road, Fairfax, VA 22032
(“SUBCONTRACTOR”).

 

	1.	SERVICES.
    SUBCONTRACTOR shall perform the services for CARBONMETA specified on one or more Work Orders documented in the form of Schedule A
    amendments that may be attached to this Master Subcontractor Agreement.

 

	 	1.1.	SUBCONTRACTOR
    shall use its best efforts to perform and complete these services as “work for hire” according to the requirements and
    schedule documented in the applicable Schedule A amendment(s)
	 	 	 
	 	1.2.	CARBONMETA
    shall evaluate the Work and may accept or reject the Work by giving SUBCONTRACTOR notice within ten (10) business days after CARBONMETA
    receives the Work, or within such time as agreed upon by the parties. If rejected, SUBCONTRACTOR shall correct the Work free of charge
    within thirty (30) days after CARBONMETA’s notice, or within the time agreed upon by the parties.

 

	2.	WARRANTIES.
    SUBCONTRACTOR warrants that SUBCONTRACTOR has the right to enter into this Agreement and further warrants:

 

	 	2.1.	that
    the service shall be performed in a good and professional manner;
	 	 	 
	 	2.2.	that
    SUBCONTRACTOR shall at all times comply with CARBONMETA or its client’s security provisions, and other CARBONMETA or client
    policies and procedures made known to SUBCONTRACTOR;
	 	 	 
	 	2.3.	that
    SUBCONTRACTOR shall not violate or infringe upon any their party rights, including but not limited to property, contract, employment,
    trade secret, confidential and proprietary information, or any trademark, copyright or patent rights; and
	 	 	 
	 	2.4.	that
    SUBCONTRACTOR shall not violate any applicable federal, state, or local laws, rules or regulations in the performance of services
    under this Agreement.

 

	3.	OWNERSHIP.
    All work or materials developed or provided by SUBCONTRACTOR under this Agreement shall be deemed to be work made for hire and owned
    exclusively by CARBONMETA. Such work or materials shall include and is not limited to data, notes, plans, documentation, specifications,
    designs, files, software (in source and object code form), upgrades, revisions, modification, or enhancements. In the event such
    work or materials may not, by operation of law, be work made for hire. SUBCONTRACTOR hereby assigns to CARBONMETA all rights in such
    work and materials and all copyrights and patents rights therein. SUBCONTRACTOR shall also disclose to CARBONMETA all discoveries,
    inventions, ideas or techniques (inventions) made by SUBCONTRACTOR in the performance of services under this Agreement. All such
    Inventions shall also be owned exclusively by CARBONMETA. SUBCONTRACTOR shall execute any document and provide reasonable assistance
    to CARBONMETA as CARBONMETA may reasonably request to give full effect to CARBONMETA’s ownership rights.
	 	 
	4.	INDEMNIFICATION.
    SUBCONTRACTOR shall indemnify and hold CARBONMETA, its officers, employees and agents harmless from any and all claims, liability
    damages, losses and expenses arising from:

 

	 	4.1.	any
    personal injury (or death) or damage of any property arising out of or in any way connected with any act or omission by SUBCONTRACTOR
    in the provision of services under this Agreement;
	 	 	 
	 	4.2.	any
    taxes or other payments owned by SUBCONTRACTOR to any governmental agency as a result of any services provided hereunder, any compensation
    owed to any employee or subcontractor of SUBCONTRACTOR for services provided hereunder, or any determination that SUBCONTRACTOR is
    not an independent contractor; and
	 	 	 
	 	4.3.	any
    claim by a third party that the work or materials provided hereunder infringes a copyright, patent, trade secret or other intellectual
    property right of such third party.

 

	CARBONMETA
    Master Subcontractor Agreement	Page
    1	Saturday,
    June 11, 2022
	 	 	 
	 	 	 
	Initials
    and Date	 	SUBCONTRACTOR
	CARBONMETA	 	 

 

    	 

     

    

 

	5.	INDEPENDENT
    PARTIES. CARBONMETA and SUBCONTRACTOR are independent business parties.

 

	 	5.1.	Neither
    party is an employee, agent or representative of the other party. Neither party shall have any right, power, or authority to enter
    into any agreement for or on behalf of the other party, or to incur any obligation or liability or otherwise bind the other party.
	 	 	 
	 	5.2.	This
    Agreement does not create an employer-employee relationship, association, joint venture, or partnership between the parties nor imposes
    any partnership liability upon either party.
	 	 	 
	 	5.3.	SUBCONTRACTOR
    agrees to be responsible for all of SUBCONTRACTOR’s own federal and state/provincial/cantonal taxes, withholding and payroll
    taxes (e.g., U.S. federal income tax, FICA, FUTA, etc.).
	 	 	 
	 	5.4.	SUBCONTRACTOR
    will fully indemnify CARBONMETA for all such withholding and payroll taxes, and associated interest and penalties, if any, assessed
    against CARBONMETA in connection with such determination.

 

	6.	CONFIDENTIALITY.
    In the course of providing services hereunder, SUBCONTRACTOR may have access to confidential and proprietary information and materials
    of CARBONMETA or its clients (Confidential Information).

 

	 	6.1.	The
    terms and conditions of the CARBONMETA Reciprocal Non-Disclosure Agreement entered into by and between the CARBONMETA and
    SUBCONTRACTOR dated 01/23/2022 (the “Non-Disclosure Agreement” or “NDA”) is incorporated by reference
    into this Agreement and will apply to all confidential information exchanged by the parties under this Agreement.
	 	 	 
	 	6.2.	To
    maintain the confidentiality of CARBONMETA and its customers, SUBCONTRACTOR agrees to have its employees and agents use CARBONMETA
    e-mail in order to perform the services hereunder. CARBONMETA e-mail addresses may be obtained by submitting a formal written request
    to support@carbonmetatech.com.

 

	7.	TERMINATION.

 

	 	7.1.	Either
    party has the right to immediately terminate this Agreement without cause upon thirty (30) days prior written notice to the other
    party.
	 	 	 
	 	7.2.	Upon
    termination of this Agreement, SUBCONTRACTOR shall cease all work and shall promptly provide CARBONMETA, without additional cost
    to CARBONMETA, all work and materials developed by SUBCONTRACTOR under this Agreement. SUBCONTRACTOR shall also return to CARBONMETA
    all materials and Confidential Information provided to SUBCONTRACTOR in connection with this Agreement.

 

	8.	NONCOMPETITION
    AND SOLICITATION. CARBONMETA may, in connection with this Agreement, disclose to SUBCONTRACTOR confidential information regarding
    CARBONMETA’s clients and the products and services to be provided to such clients by CARBONMETA. In consideration of the fees
    to be paid hereunder, SUBCONTRACTOR agrees not to solicit such clients directly or indirectly, for any similar products and services
    during the term of this Agreement and for a period of one (1) year thereafter. SUBCONTRACTOR further agrees not to solicit or approach
    for employment, either directly or indirectly, any CARBONMETA personnel during the term of this Agreement and for a period of one
    (1) year thereafter.
	 	 
	9.	PUBLICITY
    AND TRADEMARKS. Neither party shall publicize or use the name or trademarks of the other party in any manner, or those of CARBONMETA’s
    clients, without the prior written consent of the other
	 	 
	10.	LIMITATION
    OF LIABILITY. EXCEPT FOR DAMAGES ARISING FROM ANY NONCOMPLIANCE WITH SECTIONS 2, 3, 4, AND 5 IN NO EVENT SHALL EITHER PARTY BE
    LIABLE FOR LOSS OF PROFITS, REVENUE, DATA OR USE OR FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, HOWEVER CAUSED,
    EVEN IF ADVISED OFTHE POSSIBILITY OF SUCH DAMAGES.
	 	 
	11.	NONEXCLUSIVITY.
    This Agreement is nonexclusive and the parties may enter into similar agreements with other parties without restriction as to number,
    location and application.

 

	CARBONMETA
    Master Subcontractor Agreement	Page
    2	Saturday,
    June 11, 2022
	 	 	 
	 	 	 
	Initials
    and Date	 	SUBCONTRACTOR
	CARBONMETA	 	 

 

    	 

     

    

 

	12.	NOTICES.
    Any notice, request, authorization, direction, or other communication under this Agreement shall be deemed given on the day they
    are (i) deposited in the mail, postage prepaid, certified or registered, return receipt requested; or (ii) sent by air express courier
    (e.g., DHL, Federal Express or Airborne), charges prepaid, return receipt requested; and addressed as set forth below.

 

	CarbonMeta Technologies Inc. 	 	Elder and Associates, LLC
	13110 NE 177th Place, #145

                                                                                Woodinville, WA 98072

                                                                                United States of America 
	 	10289 Latney Road

                                                                                Fairfax, VA 22032

                                                                                United States of America

	 	 	 
	Attention: 	Finance Department	 	Attention: 	Bill Elder
	Phone: 	+1 (844) 698-3777	 	Phone: 	+1 (703) 894-7328
	Fax:	 	 	Fax:	 
	E-Mail:	 finance@carbonmetatech.com	 	E-Mail: 	william.elder1491@gmail.com

 

	13.	NONWAIVER.
    The failure of either party to insist upon or enforce strict conformance by the other party of any provision of this Agreement or
    to exercise any right under this Agreement shall not be construed as a waiver or relinquishment of such party’s right unless
    made in writing and shall not constitute any subsequent waiver or relinquishment.
	 	 
	14.	INVALID
    PROVISION. The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions hereof,
    and this Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted.
	 	 
	15.	REMEDIES.
    The rights and remedies afforded to either party pursuant to any provision of this Agreement are in addition to and do not in any
    way limit any other rights or remedies afforded to either party by any other provision of this Agreement or by law.
	 	 
	16.	Assignment
    of Agreement. SUBCONTRACTOR may not assign this
    Agreement or any obligation hereunder, nor any associated Schedule A Work Order amendments, in whole or in part, without the express
    written consent of CARBONMETA.

 

	 	16.1.	In
    the event that SUBCONTRACTOR would like to subcontract a portion of the work and CARBONMETA agrees to this assignment in writing,
    SUBCONTRACTOR will enter written agreements with any subcontractors with terms sufficient to permit and require Contractor to comply
    with the terms of this Agreement. Moreover, SUBCONTRACTOR shall guarantee the performance of such subcontractors and shall defend,
    indemnify and hold harmless CARBONMETA from any and all claims or liability arising out of subcontractor’s performance or work.
	 	 	 
	 	16.2.	Any
    attempt to assign any rights, duties, or obligations of this Agreement or of without the written consent of CARBONMETA will result
    in the termination of this Agreement and any associated Schedule A Work Order amendments.

 

	17.	SURVIVAL.
    Sections 3, 4, 5, 6, 7, 8, 9, 10 and 11 shall survive any termination of this Agreement.
	 	 
	18.	ENTIRE
    AGREEMENT. This Agreement and any attachment(s) set forth the entire agreement between the parties and supersedes any and all
    prior or contemporaneous agreements of the parties with respect to the subject matter contained herein. CARBONMETA shall not be bound
    by, and specifically objects to, any term, condition, or other provision inconsistent with or in addition to any provision of this
    Agreement that is submitted by SUBCONTRACTOR in any correspondence or any other document, unless CARBONMETA specifically agrees to
    such provision in a written instrument signed by an authorized representative of CARBONMETA. No change, amendment, or modification
    of any provision of this Agreement shall be valid unless set forth in a written instrument signed by both parties.
	 	 
	19.	APPLICABLE
    LAW. This Agreement shall be governed by the laws of the State of Delaware in the United States of America.
	 	 
	20.	ATTORNEY
    FEES. If either party employs attorneys to enforce any rights arising out of or relating to this Agreement, the prevailing party
    shall be entitled to recover its reasonable attorneys’ fees, costs and other expenses.

 

	CARBONMETA
    Master Subcontractor Agreement	Page
    3	Saturday,
    June 11, 2022
	 	 	 
	 	 	 
	Initials
    and Date	 	SUBCONTRACTOR
	CARBONMETA	 	 

 

    	 

     

    

 

	21.	INVOICES
    and PAYMENT TERMS.

 

	 	21.1.	SUBCONTRACTOR
    must submit invoices and any expenses for the previous period’s work on the following Monday, to the appropriate CARBONMETA
    project manager for review and approval.
	 	 	 
	 	21.2.	Payment
    terms and conditions shall be specified on each individual Work Order documented in the form of an Schedule A amendment that may
    be attached to this Master Subcontractor Agreement.

 

	 	 	21.2.1.	Unless
    otherwise specified in writing on an individual Work Order, default payment terms are Net-30.
	 	 	 	 
	 	 	21.2.2.	Payments
    from CARBONMETA to SUBCONTRACTOR may be made in the form of cash, S-8 unrestricted OTCPINK:COWI stock, or restricted OTCPINK:COWI
    stock as mutually agreed upon by CARBONMETA and SUBCONTRACTOR.

 

	 	21.3.	As
    specified in accompanying Schedule A Work Order amendments (Fee Schedule and Payment Terms), SUBCONTRACTOR shall submit all invoices
    to:

 

CarbonMeta
Technologies, Inc.

Attn:
Finance Department

13110
NE 177th Place, #145

Woodinville,
WA 98072

finance@carbonmetatech.com

 

	 	21.4.	Submitted
    invoices shall contain the following information:

 

Invoice
Number

Date
of Invoice

Period
covered by this Invoice - From/To Dates

Project
Code Identification (Number or Name)

Services
performed (e.g. hours worked, milestones completed) and amounts due

Pre-approved
travel and/or per diem expenses

(if
authorized in the Schedule A amendment Fee Schedule and Payment Terms)

 

	CARBONMETA	 	SUBCONTRACTOR
	 	 	 
	 	 	 
	Signature	 	Signature
	 	 	 
	Lloyd
    T. Spencer	 	William
    Elder
	Name
    (Print)	 	Name
    (Print)
	 	 	 
	President	 	President
	Title	 	Title
	 	 	 
	 	 	 
	Effective
    Date	 	Date
	 	 	 
	 	 	 
	 	 	Company
    Tax Identification Number

 

	CARBONMETA
    Master Subcontractor Agreement	Page
    4	Saturday,
    June 11, 2022
	 	 	 
	 	 	 
	Initials
    and Date	 	SUBCONTRACTOR
	CARBONMETA

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