Document:

Exhibit
4.6

 

COMMON STOCK PURCHASE WARRANT

  

NOCERA,
INC.

 

	Warrant Shares: _______	Initial Exercise Date: [•], 2022	 
	 	Expiration Date: [•], 2027	 

 

CUSIP: 655186 138 

ISIN: US6551861387

 

THIS COMMON STOCK PURCHASE
WARRANT (“Warrant”) certifies that, for value received, ____________________, or its assigns (the “Holder”)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (New York City time) on [*], 2027[1]
(the “Termination Date”) but not thereafter, to subscribe for and purchase from NOCERA, INC., a Nevada corporation
(the “Company”), up to [*][2] shares of Common Stock (as subject to adjustment hereunder, the “Warrant
Shares”). The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined
in Section 2(b). This Warrant shall initially be issued and maintained in the form of a security held in book-entry form and The
Depository Trust Company or its nominee (“DTC”) shall initially be the sole registered holder of this Warrant, subject
to a Holder’s right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant Agency Agreement, in
which case this sentence shall not apply.

 

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

 

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

 

“Attribution
Parties” shall have the meaning set forth in Section 2(e).

 

“Base Share
Price” shall have the meaning set forth in Section 3(c).

 

“Beneficial
Ownership Limitation” shall have the meaning set forth in Section 2(e).

 

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

 

“Black
Scholes Value” shall have the meaning set forth in Section 3(f).

 

 

________________

 

[1] Insert the date that is the fifth year anniversary of
the Initial Exercise Date, provided that, if such date is not a

Trading Day, insert the immediately following Trading Day.

[2] 200% coverage of
the number of shares included in the Units purchased by the investor.

 

 

 

    	 	1	 

     

    

 

“Board”
shall have the meaning set forth in Section 3(f).

 

“Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed; provided, however, for clarification, commercial banks shall not be deemed to be authorized
or required by law to remain closed due to “stay at home”, “shelter-in-place”, “non-essential employee”
or any other similar orders or restrictions or the closure of any physical branch locations at the direction of any governmental authority
so long as the electronic funds transfer systems (including for wire transfers) of commercial banks in The City of New York generally
are open for use by customers on such day.

 

“Buy-In”
shall have the meaning set forth in Section 2(d)(iv).

 

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

 

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

  

“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”
shall have the meaning set forth in the Preamble.

 

“Dilutive
Issuance” shall have the meaning set forth in Section 3(c).

 

“Dilutive
Issuance Notice” shall have the meaning set forth in Section 3(c).

 

“Distribution”
shall have the meaning set forth in Section 3(e).

 

“DTC”
shall have the meaning set forth in the Preamble.

 

“DWAC”
shall have the meaning set forth in Section 2(d)(i).

 

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

 

 

 

    	 	2	 

     

    

 

“Exempt
Issuance” means the issuance of (i) shares of Common Stock or options to employees, officers, or directors of the Company or
consultants to the Company pursuant to any stock or option plan or other written agreement duly adopted for such purpose, by a majority
of the non-employee members of the Board or a majority of the members of a committee of non-employee directors established for such purpose
for services rendered to the Company, provided, however, such issuance (A) shall not exceed fifteen percent (15%) of the
Common Stock issued and outstanding as of the date hereof and (B) shall be at no less than fair market value (as measured by the closing
price of the Common Stock on the Trading Market on the date of issuance); (ii) securities upon the exercise or exchange of or conversion
of any securities exercisable or exchangeable for or convertible into Common Stock issued and outstanding on the date of this Agreement,
provided that such securities have not been amended since the date of this Agreement to increase the number of such securities
or to decrease the exercise price, exchange price, or conversion price of such securities (other than in connection with stock splits
or combinations) or to extend the term of such securities; (iii) securities issued pursuant to acquisitions or strategic transactions
approved by a majority of the disinterested directors of the Company or securities issued in financing transactions, the primary purpose
of which is to finance acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided
that such securities are issued as “restricted securities” (as defined in Rule 144), and provided that any such issuance
shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an operating company or
an owner of an asset in a business synergistic with the business strategy of the Company and shall provide to the Company additional benefits
in addition to the investment of funds; (iv) shares of Common Stock, options, or convertible securities issued to banks, equipment lessors,
or other financial institutions, or to real property lessors, pursuant to a debt financing, equipment leasing, or real property leasing
transaction approved by a majority of the disinterested directors of the Company; (v) shares of Common Stock, options, or convertible
securities issued in connection with the provision of goods or services pursuant to transactions approved by a majority of the disinterested
directors of the Company; and (vi) shares of Common Stock, options, or convertible securities issued in connection with sponsored research,
collaboration, technology license, development, investor or public relations, marketing, or other similar agreements or strategic partnerships
approved by a majority of the disinterested directors of the Company.

 

“Exercise
Price” shall have the meaning set forth in Section 2(b).

 

“Fundamental
Transaction” shall have the meaning set forth in Section 3(f)(v).

 

“Holder”
shall have the meaning set forth in the Preamble.

 

“Initial
Exercise Date” shall have the meaning set forth in the Preamble.

 

“Notice
of Exercise” shall have the meaning set forth in Section 2(a).

 

“Notice
Period” shall have the meaning set forth in Section 6.

 

“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.

 

“Purchase Rights”
shall have the meaning set forth in Section 3(d).

 

“Redemption
Notice” shall have the meaning set forth in Section 6.

 

“Registration
Statement” means the Company’s registration statement on Form S-1 (File No. 333-264059), as amended.

 

“Reset
Price” shall have the meaning set forth in Section 3(a).

 

“SEC”
means the Securities Exchange Commission.

 

 

 

    	 	3	 

     

    

 

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

 

“Standard
Settlement Period” shall have the meaning set forth in Section 2(d)(i).

 

“Subsidiary”
means any subsidiary of the Company and shall, where applicable, also include any direct or indirect subsidiary of the Company formed
or acquired after the date hereof.

 

“Successor
Entity” shall have the meaning set forth in Section 3(f).

 

“Termination
Date” shall have the meaning set forth in the Preamble.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

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

 

“Transfer
Agent” means Mountain Share Transfer, LLC, the current transfer agent of the Company, with a mailing address of 2030
Powers Ferry Rd Suite # 212, Atlanta, GA 30339 and a phone number of (404) 474-3110, and any successor transfer agent of the Company.

 

“Underwriting
Agreement” means the underwriting agreement, dated as of [•], 2022 among the Company and Spartan Capital Securities, LLC
and Revere Securities LLC, as joint representatives to the underwriters named therein, as amended, modified or supplemented from time
to time in accordance with its terms.

 

“Unit”
or “Units” means the units sold pursuant to the Registration Statement.

 

“Variable
Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible
into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion price,
exercise price, or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations for the Common
Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion, exercise, or exchange price that
is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified
or contingent events directly or indirectly related to the business of the Company or the market for the Common Stock or (ii) enters into,
or effects a transaction under, any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue
securities at a future determined price.

 

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

  

 

 

    	 	4	 

     

    

 

“Warrant
Agency Agreement” means that certain warrant agency agreement, dated on or about the Initial Exercise Date, between the Company
and the Warrant Agent.

 

“Warrant
Agent” means the Transfer Agent and any successor warrant agent of the Company.

 

“Warrant
Register” shall have the meaning set forth in Section 4(c).

 

“Warrant
Share Delivery Date” shall have the meaning set forth in Section 2(d)(i).

 

“Warrant
Shares” shall have the meaning set forth in the Preamble.

 

“Warrants”
means this Warrant and other Warrants underlying the Units.

 

Section 2. Exercise.

 

(a) Exercise
of Warrant. Subject to the provisions of Section 2(e) herein, exercise of the purchase rights represented by this Warrant may
be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date, by delivery
to the Company of a duly executed PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto
as Annex A (the “Notice of Exercise”), and, unless the cashless exercise procedure specified in Section 2(c)
below is specified in the applicable Notice of Exercise, delivery of the aggregate Exercise Price of the Warrant Shares specified in the
applicable Notice of Exercise as specified in this Section 2(a). Within the earlier of (i) two (2) Trading Days and (ii) the number
of Trading Days comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise
as aforesaid, the Holder shall deliver the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise
by wire transfer of immediately available funds or cashier’s check drawn on a United States bank unless the cashless exercise procedure
specified in Section 2(c) below is specified in the applicable Notice of Exercise. No ink-original Notice of Exercise shall be
required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding
anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder
has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall
surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise
is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares
available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal
to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant
Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Trading
Day of receipt of such notice. Notwithstanding the foregoing, with respect to any Notice(s) of Exercise delivered on or prior to 4:00
p.m. (New York City time) on the Trading Date prior to the Initial Exercise Date, which may be delivered at any time after the time of
execution of the Underwriting Agreement, the Company agrees to deliver the Warrant Shares subject to such notice(s) by 4:00 p.m. (New
York City time) on the Initial Exercise Date and the Initial Exercise Date shall be the Warrant Share Delivery Date for purposes hereunder,
provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by such Warrant Share
Delivery Date. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions
of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase
hereunder at any given time may be less than the amount stated on the face hereof.

 

 

 

    	 	5	 

     

    

 

Notwithstanding
the foregoing in this Section 2(a), a holder whose interest in this Warrant is a beneficial interest in certificate(s) representing
this Warrant held in book-entry form through DTC (or another established clearing corporation performing similar functions), shall effect
exercises made pursuant to this Section 2(a) by delivering to DTC (or such other clearing corporation, as applicable) the appropriate
instruction form for exercise, complying with the procedures to effect exercise that are required by DTC (or such other clearing corporation,
as applicable), subject to a Holder’s right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant
Agency Agreement, in which case this sentence shall not apply.

 

(b) Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $[•][3], subject to adjustment hereunder
(the “Exercise Price”).

  

(c) Cashless
Exercise. If at any time after the Initial Exercise Date, there is no effective registration statement registering, or no current
prospectus available for the issuance of, the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole or in part,
at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares
equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	(A)=	as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(68) of Regulation NMS promulgated under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day;
	 	 	 
	  	(B)=	the Exercise Price of this Warrant, as adjusted hereunder;
and
	 	 
	 	(X) =	the number of Warrant Shares that would be issuable upon exercise
of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless
exercise.

 

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

 

Notwithstanding
anything herein to the contrary, in the event that, on the Termination Date, there is no effective registration statement registering,
or no current prospectus available for the issuance of, the Warrant Shares to the Holder, this Warrant shall be automatically exercised
via cashless exercise pursuant to this Section 2(c) on such Termination Date.

 

 

________________

[3] 110% of the purchase
price per Unit.

 

 

 

    	 	6	 

     

    

 

(d) Mechanics of Exercise.

 

(i) Delivery of
Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer Agent
to the Holder by crediting the account of the Holder’s or its designee’s balance account with DTC through its Deposit or Withdrawal
at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there is an effective
registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) this Warrant
is being exercised via cashless exercise, and otherwise by physical delivery of a certificate, registered in the Company’s share
register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant to such
exercise to the address specified by the Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days
after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to
the Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice
of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of Exercise, the Holder shall
be deemed for all corporate purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has
been exercised, irrespective of the date of delivery of the Warrant Shares, provided that payment of the aggregate Exercise Price (other
than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days
comprising the Standard Settlement Period following delivery of the Notice of Exercise. If the Company fails for any reason to deliver
to the Holder the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder,
in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of
the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth
Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant
Shares are delivered or Holder rescinds such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST
program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period” means
the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the
Common Stock as in effect on the date of delivery of the Notice of Exercise.

  

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

 

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

 

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

 

 

 

    	 	7	 

     

    

 

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

 

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

 

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

 

(e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other Persons
acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)),
would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the
number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number
of shares of Common Stock issuable upon exercise of this Warrant with respect to which such determination is being made, but shall exclude
the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, non-exercised portion of this Warrant
beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or
non-converted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject
to a limitation on conversion or exercise analogous to the limitation contained herein beneficially owned by the Holder or any of its
Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial
ownership shall be calculated in accordance with Section 13(d) of the Exchange Act, it being acknowledged by the Holder that the Company
is not representing to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely
responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section
2(e) applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the
Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable
(in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this
Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify
or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above shall be determined
in accordance with Section 13(d) of the Exchange Act. For purposes of this Section 2(e), in determining the number of outstanding
shares of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s
most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public announcement by the Company
or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request of a Holder, the Company shall within one (1) Trading Day confirm orally and in writing to the Holder
the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined
after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its Affiliates
or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 4.99% (or, upon election by a Holder prior to the issuance of any Warrants, 9.99%) of the number
of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise
of this Warrant. The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this
Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common
Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the
Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will
not be effective until the sixty-first (61st) day after such notice is delivered to the Company. The provisions of this paragraph
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct
this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein
contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained
in this paragraph shall apply to a successor holder of this Warrant.

  

 

 

    	 	8	 

     

    

 

Section 3. Certain
Adjustments.

 

(a)              
Reset of Exercise Price. If, on the date that is 90 calendar days immediately following the Initial Exercise Date of
this Warrant, the Reset Price, as defined below, is less than the Exercise Price at such time, the Exercise Price shall be decreased to
the Reset Price. “Reset Price” shall mean the greater of (i) 50% of the Exercise Price and (ii) 100% of the last VWAP
immediately preceding the 90th calendar day following the Initial Exercise Date.

 

(b)              
Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding:

 

(i)  pays a
stock dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or Equivalent Securities
payable in Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise
of this Warrant),

 

(ii) subdivides outstanding
shares of Common Stock into a larger number of shares,

 

(iii) combines (including
by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or

 

(iv) issues by reclassification
of shares of Common Stock any shares of capital stock of the Company.

 

Then in each case the Exercise Price
shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock and such other capital stock of
the Company (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number
of shares of Common Stock and such other capital stock of the Company (excluding treasury shares, if any) outstanding immediately after
such event, and the number of shares of Common Stock issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(b) shall become
effective immediately after the record date for the determination of shareholders entitled to receive such dividend or distribution and
shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

(c) Subsequent
Equity Sales. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell,
enter into an agreement to sell, or grant any option to purchase, or sell, enter into an agreement to sell, or grant any right to reprice,
or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any shares of Common
Stock or Equivalent Securities, at an effective price per share less than the Exercise Price then in effect (such lower price, the “Base
Share Price” and such issuances collectively, a “Dilutive Issuance”) (it being understood and agreed that
if the holder of the shares of Common Stock or such other securities so issued shall at any time, whether by operation of purchase price
adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per
share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share
that is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of
the Dilutive Issuance at such effective price), then simultaneously with the consummation (or, if earlier, the announcement) of each Dilutive
Issuance the Exercise Price shall be reduced and only reduced to equal the Base Share Price provided that the Base Share Price shall not
be less than $[•][4] (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions
following the Initial Issuance Date). Notwithstanding the foregoing, no adjustments shall be made, paid or issued under this Section
3(c) in respect of an Exempt Issuance. The Company shall notify the Holder, in writing, no later than the Trading Day following the
issuance or deemed issuance of any shares of Common Stock or Equivalent Securities subject to this Section 3(c), indicating therein
the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice, the “Dilutive
Issuance Notice”). For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant to
this Section 3(c), upon the occurrence of any Dilutive Issuance, the Holder is entitled to receive a number of Warrant Shares based
upon the Base Share Price regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. If the
Company enters into a Variable Rate Transaction, the Company shall be deemed to have issued shares of Common Stock or Equivalent Securities
at the lowest possible price, conversion price or exercise price at which such securities may be issued, converted or exercised.

 

________________

 

[4] Insert dollar amount
equal to 50% of the purchase price per Unit.

 

 

 

    	 	9	 

     

    

 

(d) Subsequent
Rights Offerings. In addition to any adjustments pursuant Section 3(c) above, if at any time the Company grants, issues or
sells any Equivalent Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of
any class of Common Stock (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable
to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares
of Common Stock acquirable upon complete exercise of this Warrant immediately before the date on which a record is taken for the grant,
issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common
Stock are to be determined for the grant, issue or sale of such Purchase Rights; provided, however, that, to the extent
that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership
Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such
shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance
for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation.

  

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

 

(f) Fundamental
Transaction. If, at any time while the Warrants are outstanding,

 

(i)    
the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into
another person,

 

(ii) the Company,
directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially
all of its assets in one or a series of related transactions,

 

(iii) any direct or
indirect purchase offer, tender offer or exchange offer (whether by the Company or another person) is completed pursuant to which holders
of shares of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted
by the holders of 50% or more of the total voting power of the Company’s shares of Common Stock (not including any shares of Common
Stock held by the other person or other persons making or party to, or associated or affiliated with the other persons making, such purchase
offer, tender offer or exchange offer),

 

(iv) the Company,
directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of shares
of Common Stock or any compulsory share exchange pursuant to which the shares of Common Stock are effectively converted into or exchanged
for other securities, cash or property, or

 

 

 

    	 	10	 

     

    

 

(v) the Company, directly
or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including,
without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another person or group of persons whereby
such other person or group acquires more than 50% of the total voting power of the Company’s shares of Common Stock (not including
any shares of Common Stock held by the other person or group or other persons or group making or party to, or associated or affiliated
with the other persons or group making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
Transaction”),

  

then, upon any subsequent exercise of
a Warrant, the Holder shall have the right to receive, for each share of Common Stock that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder, the number of shares of capital stock
of the successor or acquiring corporation or of the Company, if it is the surviving corporation, or depositary shares representing those
shares, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental
Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental
Transaction. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such
Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental
Transaction and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the
relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities,
cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration
it receives upon any exercise of this Warrant following such Fundamental Transaction.

 

Notwithstanding anything to the contrary,
in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option,
exercisable at any time concurrently with, or within thirty (30) days after, the consummation of the Fundamental Transaction (or, if later,
the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the
Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the
date of the consummation of such Fundamental Transaction; provided, however, that, if the Fundamental Transaction is not
within the Company’s control, including not approved by the Company’s Board of Directors (“Board”), Holder
shall only be entitled to receive from the Company or any Successor Entity the same type or form of consideration (and in the same proportion),
at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid to the holders of shares of Common
Stock of the Company in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination
thereof, or whether the holders of shares of Common Stock are given the choice to receive from among alternative forms of consideration
in connection with the Fundamental Transaction; provided, further, that if holders of shares of Common Stock of the Company
are not offered or paid any consideration in such Fundamental Transaction, such holders will be deemed to have received common stock of
the Successor Entity (which Entity may be the Company following such Fundamental Transaction) in such Fundamental Transaction.

 

“Black Scholes Value”
means the value of this Warrant based on the Black-Scholes Option Pricing Model obtained from the “OV” function on
Bloomberg L.P. determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting
(A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100
day volatility obtained from the HVT function on Bloomberg L.P. (determined utilizing a 365 day annualization factor) as of the Trading
Day immediately following the public announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in
such calculation shall be the greater of (i) the sum of the price per share being offered in cash, if any, plus the value of any non-cash
consideration, if any, being offered in such Fundamental Transaction and (ii) the highest VWAP during the period beginning on the Trading
Day immediately preceding the announcement of the applicable Fundamental Transaction (or the consummation of the applicable Fundamental
Transaction, if earlier) and ending on the Trading Day of the Holder’s request pursuant to this Section 3(f) and (D) a remaining
option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination
Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds
(or such other consideration) within the later of (i) five (5) Business Days of the Holder’s election and (ii) the date of consummation
of the Fundamental Transaction.

 

 

 

    	 	11	 

     

    

 

The Company shall cause any successor
entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”), to assume in
writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(f) pursuant
to written agreements in form reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such
Fundamental Transaction and shall, at the option of the Holder, deliver to such Holder in exchange for this Warrant a security of the
Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant that is exercisable for
a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock
acquirable and receivable upon exercise of this Warrant prior to such Fundamental Transaction and with an exercise price which applies
the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock
prior to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise
price being for the purpose of protecting the economic value this Warrant had immediately prior to the consummation of such Fundamental
Transaction). Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so
that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the “Company” shall
refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations
of the Company under this Warrant Agreement and the Warrant with the same effect as if such Successor Entity had been named as the Company
herein.

 

The Company shall instruct the Warrant
Agent in writing to mail, by first class mail, postage prepaid, to each Holder, written notice of the execution of any such amendment,
supplement or agreement with the Successor Entity. Any supplemented or amended agreement entered into by the successor corporation or
transferee shall provide for adjustments, which shall be as nearly equivalent as may be practicable to the adjustments provided for in
this Section 3(f). The Warrant Agent shall have no duty, responsibility or obligation to determine the correctness of any provisions
contained in such agreement or such notice, including but not limited to any provisions relating either to the kind or amount of securities
or other property receivable upon exercise of warrants or with respect to the method employed and provided therein for any adjustments,
and shall be entitled to rely conclusively for all purposes upon the provisions contained in any such agreement. The provisions of this
Section 3(f) shall similarly apply to successive reclassifications, changes, consolidations, mergers, sales and conveyances of
the kind described above.

 

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

 

(g) Notice to Holder.

 

(i)    
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company
shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting
adjustment to the number of shares of Common Stock underlying the Warrant and setting forth a brief statement of the facts requiring such
adjustment.

 

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

 

 

 

    	 	12	 

     

    

 

(h) Voluntary
Adjustment by Company. Subject to the rules and regulations of the Trading Market, the Company may at any time during the term of
this Warrant, subject to the prior written consent of the Holder, reduce the then current Exercise Price to any amount and for any period
of time deemed appropriate by the Board.

 

Section 4. Transfer
of Warrant.

 

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

 

(b) New Warrants.
If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined with other
Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations
in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a),
as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants
in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or
exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of
Warrant Shares issuable pursuant thereto.

 

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

 

Section 5. Participation
Right. For so long as this Warrant is outstanding, neither the Company nor any of its Subsidiaries shall, directly or indirectly,
issue, offer, sell, grant any option or right to purchase, or otherwise dispose of (or announce any issuance, offer, sale, grant of any
option or right to purchase or other disposition of) any equity security or any equity-linked or related security (including, without
limitation, any “equity security” (as that term is defined under Rule 405 promulgated under the 1933 Act)), any Convertible
Securities (as defined below), any debt, any preferred shares or any purchase rights (any such issuance, offer, sale, grant, disposition
or announcement is referred to as a “Subsequent Placement”) unless the Company shall have first complied with this
Section 5. The Company acknowledges and agrees that the right set forth in this Section 5 is a right granted by the Company
to the Holder; provided that the Holder beneficially owns at least [•][5] Warrants as of the time the Company engaged
in a Subsequent Placement (each such Holder, a “Qualified Holder”).

  

 

_________________

 

[5] Insert number equal
to $500,000 of the Units purchased in the offering.

 

 

 

    	 	13	 

     

    

 

(a) At least five
(5) Trading Days prior to any proposed or intended Subsequent Placement, the Company shall deliver to each Qualified Holder a written
notice (each such notice, a “Pre-Notice”), which Pre-Notice shall not contain any information (including, without limitation,
material, non-public information) other than: (A) if the proposed Offer Notice (as defined below) constitutes or contains material, non-public
information, a statement asking whether the Investor is willing to accept material non-public information or (B) if the proposed Offer
Notice does not constitute or contain material, non-public information, (x) a statement that the Company proposes or intends to effect
a Subsequent Placement, (y) a statement that the statement in clause (x) above does not constitute material, non-public information and
(z) a statement informing such Qualified Holder that it is entitled to receive an Offer Notice (as defined below) with respect to such
Subsequent Placement upon its written request. Upon the written request of a Qualified Holder within three (3) Trading Days after the
Company’s delivery to such Qualified Holder of such Pre-Notice, and only upon a written request by such Qualified Holder, the Company
shall promptly, but no later than one (1) Trading Day after such request, deliver to such Qualified Holder an irrevocable written notice
(the “Offer Notice”) of any proposed or intended issuance or sale or exchange (the “Offer”) of the
securities being offered (the “Offered Securities”) in a Subsequent Placement, which Offer Notice shall (A) identify
and describe the Offered Securities, (B) describe the price and other terms upon which they are to be issued, sold or exchanged, and the
number or amount of the Offered Securities to be issued, sold or exchanged, (C) identify the Persons (if known) to which or with which
the Offered Securities are to be offered, issued, sold or exchanged and (D) offer to issue and sell to or exchange with such Qualified
Holder in accordance with the terms of the Offer such Qualified Holder’s pro rata portion of thirty percent (30%) of the Offered
Securities, provided that the number of Offered Securities which such Qualified Holder shall have the right to subscribe for under
this Section 5 shall be (x) based on such Qualified Holder’s pro rata portion of the aggregate number of Purchased Shares
purchased hereunder by all Qualified Holders (the “Basic Amount”), and (y) with respect to each Qualified Holder that
elects to purchase its Basic Amount, any additional portion of the Offered Securities attributable to the Basic Amounts of other Qualified
Holders as such Qualified Holder shall indicate it will purchase or acquire should the other Qualified Holders subscribe for less than
their Basic Amounts (the “Undersubscription Amount”), which process shall be repeated until each Qualified Holder shall
have an opportunity to subscribe for any remaining Undersubscription Amount.

 

(b) To accept an
Offer, in whole or in part, such Qualified Holder must deliver a written notice to the Company prior to the end of the fifth (5th)
Business Day after such Qualified Holder’s receipt of the Offer Notice (the “Offer Period”), setting forth the
portion of such Qualified Holder’s Basic Amount that such Qualified Holder elects to purchase and, if such Qualified Holder shall
elect to purchase all of its Basic Amount, the Undersubscription Amount, if any, that such Qualified Holder elects to purchase (in either
case, the “Notice of Acceptance”). If the Basic Amounts subscribed for by all Qualified Holders are less than the total
of all of the Basic Amounts, then each Qualified Holder who has set forth an Undersubscription Amount in its Notice of Acceptance shall
be entitled to purchase, in addition to the Basic Amounts subscribed for, the Undersubscription Amount it has subscribed for; provided,
however, if the Undersubscription Amounts subscribed for exceed the difference between the total of all the Basic Amounts and the
Basic Amounts subscribed for (the “Available Undersubscription Amount”), each Qualified Holder who has subscribed for
any Undersubscription Amount shall be entitled to purchase only that portion of the Available Undersubscription Amount as the Basic Amount
of such Qualified Holder bears to the total Basic Amounts of all Qualified Holders that have subscribed for Undersubscription Amounts,
subject to rounding by the Company to the extent it deems reasonably necessary. Notwithstanding the foregoing, if the Company desires
to modify or amend the terms and conditions of the Offer prior to the expiration of the Offer Period, the Company may deliver to each
Qualified Holder a new Offer Notice and the Offer Period shall expire on the fifth (5th) Business Day after such Qualified
Holder’s receipt of such new Offer Notice.

  

(c) The Company
shall have five (5) Business Days from the expiration of the Offer Period above (A) to offer, issue, sell or exchange all or any part
of such Offered Securities as to which a Notice of Acceptance has not been given by a Qualified Holder (the “Refused Securities”)
pursuant to a definitive agreement(s) (the “Subsequent Placement Agreement”), but only to the offerees described in
the Offer Notice (if so described therein) and only upon terms and conditions (including, without limitation, unit prices and interest
rates) that are not more favorable to the acquiring Person or Persons or less favorable to the Company than those set forth in the Offer
Notice and (B) to publicly announce (x) the execution of such Subsequent Placement Agreement, and (y) either (I) the consummation of the
transactions contemplated by such Subsequent Placement Agreement or (II) the termination of such Subsequent Placement Agreement, which
shall be filed with the SEC on a Current Report on Form 8-K with such Subsequent Placement Agreement and any documents contemplated therein
filed as exhibits thereto.

 

 

 

    	 	14	 

     

    

 

(d) In the event
the Company shall propose to sell less than all the Refused Securities (any such sale to be in the manner and on the terms specified in
Section 5(c) above), then each Qualified Holder may, at its sole option and in its sole discretion, reduce the number or amount
of the Offered Securities specified in its Notice of Acceptance to an amount that shall be not less than the number or amount of the Offered
Securities that such Qualified Holder elected to purchase pursuant to Section 5(b) above multiplied by a fraction, (A) the numerator
of which shall be the number or amount of Offered Securities the Company actually proposes to issue, sell or exchange (including Offered
Securities to be issued or sold to Qualified Holders pursuant to this Section 5 prior to such reduction) and (B) the denominator
of which shall be the original amount of the Offered Securities. In the event that any Qualified Holder so elects to reduce the number
or amount of Offered Securities specified in its Notice of Acceptance, the Company may not issue, sell or exchange more than the reduced
number or amount of the Offered Securities unless and until such securities have again been offered to the Qualified Holders in accordance
with Section 5(a) above.

 

(e) Upon the closing
of the issuance, sale or exchange of all or less than all of the Refused Securities, such Qualified Holder shall acquire from the Company,
and the Company shall issue to such Qualified Holder, the number or amount of Offered Securities specified in its Notice of Acceptance,
as reduced pursuant to Section 5(d) above if such Qualified Holder has so elected, upon the terms and conditions specified in the
Offer. The purchase by such Qualified Holder of any Offered Securities is subject in all cases to the preparation, execution and delivery
by the Company and such Qualified Holder of a separate purchase agreement relating to such Offered Securities reasonably satisfactory
in form and substance to such Qualified Holder and its counsel.

 

(f) Any Offered
Securities not acquired by a Qualified Holder or other Persons in accordance with this Section 5 may not be issued, sold or exchanged
until they are again offered to such Qualified Holder under the procedures specified in this Agreement.

  

(g) The Company
and each Qualified Holder agree that if any Qualified Holder elects to participate in the Offer, neither the Subsequent Placement Agreement
with respect to such Offer nor any other transaction documents related thereto (collectively, the “Subsequent Placement Documents”)
shall include any term or provision whereby such Qualified Holder shall be required to agree to any restrictions on trading as to any
securities of the Company or be required to consent to any amendment to or termination of, or grant any waiver, release or the like under
or in connection with, any agreement previously entered into with the Company or any instrument received from the Company.

 

(h) Notwithstanding
anything to the contrary in this Section 5 and unless otherwise agreed to by such Qualified Holder, the Company shall either confirm
in writing to such Qualified Holder that the transaction with respect to the Subsequent Placement has been abandoned or shall publicly
disclose its intention to issue the Offered Securities, in either case, in such a manner such that such Qualified Holder will not be in
possession of any material, non-public information, by the fifth (5th) Business Day following delivery of the Offer Notice.
If by such fifth (5th) Business Day, no public disclosure regarding a transaction with respect to the Offered Securities has
been made, and no notice regarding the abandonment of such transaction has been received by such Qualified Holder, such transaction shall
be deemed to have been abandoned and such Qualified Holder shall not be in possession of any material, non-public information with respect
to the Company or any of its Subsidiaries. Should the Company decide to pursue such transaction with respect to the Offered Securities,
the Company shall provide such Qualified Holder with another Offer Notice and such Qualified Holder will again have the right of participation
set forth in this Section 5. The Company shall not be permitted to deliver more than one such Offer Notice to such Qualified Holder
in any sixty (60) day period, except as expressly contemplated by the last sentence of Section 5(b).

 

(i) The restrictions
contained in this Section 5 shall not apply in connection with the issuance of any Exempt Issuance. The Company shall not circumvent
the provisions of this Section 5 by providing terms or conditions to one Qualified Holder that are not provided to all.

 

 

 

    	 	15	 

     

    

 

Section 6. Redemption.
The Company reserves the right to redeem all or a portion, on a pro rata basis, the outstanding Warrants, at any time and from time to
time prior to their exercise, with a notice of redemption in writing to the Holders (the “Redemption Notice”), giving
not less than thirty (30) days’ notice of such redemption at any time during which the Warrants are exercisable (the “Notice
Period”) if the ten (10)-day average VWAP of the Common Stock is at or above 250% of the Exercise Price, as adjusted pursuant
to the terms of this Warrant, and the shares of Common Stock issuable upon exercise of this Warrant have been registered pursuant to an
effective registration statement with the SEC. The redemption price of the Warrant shall be equal to 250% of the Exercise Price. During
the Notice Period, the Holder shall be entitled to exercise all or any portion of this Warrant in accordance with Section 2. The
Company shall deliver to the Holder within twenty (20) Business Days of the expiration of the Notice Period the Redemption Price for any
Warrants outstanding at the expiration of such notice period. Any Warrant either not exercised or
tendered back to the Company by the end of the date specified in the Redemption Notice shall be canceled on the books of the Company and
have no further value. 

 

Section 7. Miscellaneous.

 

(a) No Rights
as Stockholder until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends or
other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly
set forth in Section 3. Without limiting any rights of a Holder to receive Warrant Shares on a “cashless exercise”
pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, including
if the Company is for any reason unable to issue and deliver Warrant Shares upon exercise of this Warrant as required pursuant to the
terms hereof, in no event shall the Company be required to net cash settle an exercise of this Warrant or cash settle in any other form.

  

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

 

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

 

(d) Authorized
Shares.

 

(i) The Company covenants
that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number
of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further
covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the
necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action
as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation,
or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares
which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented
by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any
transfer occurring contemporaneously with such issue).

 

 

 

    	 	16	 

     

    

 

(ii) Except and to
the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate
of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or
any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate
to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the
Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior
to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts
to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary
to enable the Company to perform its obligations under this Warrant.

 

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

  

(e) Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and
construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of
law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders,
partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York.
Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough
of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed
herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is improper or is an 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 Warrant 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 law. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in
such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such action or proceeding. Notwithstanding the foregoing, nothing
in this paragraph shall limit or restrict the federal district court in which a Holder may bring a claim under the U.S. federal securities
laws.

 

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

 

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

 

 

 

    	 	17	 

     

    

 

(h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation, any Notice
of Exercise, shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized overnight courier service, addressed
to the Company, at 3F (Building B), No. 185, Sec. 1, Datong Rd., Xizhi Dist., New Taipei City 221, Taiwan, Attention: Chief Executive
Officer, email address: jeffcheng@nocera.company, or such other email address or address as the Company may specify for such purposes
by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in
writing and delivered personally, by e-mail, or sent by a nationally recognized overnight courier service addressed to each Holder at
the e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder
shall be deemed given and effective on the earliest of (i) the time of transmission, if such notice or communication is delivered via
e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day
after the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set forth in this Section
on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second (2nd)
Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt
by the party to whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material,
non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission
pursuant to a Current Report on Form 8-K.

 

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

  

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

 

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

 

(l) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand, and
the Holder, on the other hand.

 

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

 

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

 

(o) Warrant Agency
Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued subject to the
Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions of the Warrant Agency Agreement,
the provisions of this Warrant shall govern and be controlling.

 

[Signature Page Follows]

 

 

 

    	 	18	 

     

    

 

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

 

	
    NOCERA, INC.,

    a Nevada corporation

     

	
     

    By: ___________________

    Name: Yin-Chieh Cheng

    Title: President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Page to Common Stock Purchase Warrant

 

 

 

 

    	 	19	 

     

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

	To:	NOCERA, INC.

 

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

 

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

 

[_] in lawful money of the
United States; or

 

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

 

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

 

_______________________________

 

 

The Warrant Shares shall be delivered to the following
DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: _______________________________________________________________________

Signature of Authorized Signatory of Investing Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: __________________________________________________________________________

 

 

 

    	 	20	 

     

    

 

EXHIBIT B

 

ASSIGNMENT FORM

 

(To assign the foregoing
Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing
Warrant and all rights evidenced thereby are hereby assigned to:

 

	Name:	 
	 	(Please Print)
	 	 
	Address:	 
	 	(Please Print)
	 	 
	Phone Number:	 
	 	 
	Email Address:	 
	 	 
	Dated: _______________ __, ______	 

 

	Holder’s Signature:	 	 
	 	 	 
	Holder’s Address:	 	 

 

	(Signature Guaranteed):	Date:	___________________, _____

 

Signature to be guaranteed by an authorized
officer of a chartered bank, trust company or medallion guaranteed by an investment dealer who is a member of a recognized stock exchange.

  

 

 

 

 

 

 

 

 

    	 	21Exhibit 4.49

 

TRADEMARK SECURITY AGREEMENT

 

This TRADEMARK SECURITY AGREEMENT
(this “Agreement”), effective as of December 15, 2021 (as amended, amended and restated, supplemented or otherwise
modified from time to time in accordance with the provisions hereof, this “Agreement”) made by and among Medicine Man Technologies,
Inc., d/b/a Schwazze (the “Issuer”), a Nevada corporation, Double Brow, LLC, a Colorado limited liability company,
Mission Holding, LLC, a Colorado limited liability company, SCG Holding, LLC, a Colorado limited liability company, Schwazze Colorado
LLC, a Colorado limited liability company, Schwazze Biosciences, LLC, a Colorado limited liability company, SBUD LLC, a Colorado limited
liability company, Medicine Man Consulting, Inc., a Colorado corporation, Two J’s LLC d/b/a The Big Tomato, a Colorado limited liability
company, Mesa Organics Ltd. d/b/a StarBuds/Purplebee’s, a Colorado limited liability company, Mesa Organics II Ltd., a Colorado
limited liability company, Mesa Organics III Ltd., a Colorado limited liability company, Mesa Organics IV Ltd., a Colorado limited liability
company, Schwazze IP Holdco, LLC, a Colorado limited liability company, MIH Manager LLC, a Colorado limited liability company, PBS Holdco
LLC, d/b/a StarBuds/Purplebee’s, a Colorado limited liability company, Emerald Fields Merger Sub, LLC, a Colorado limited liability
company, Schwazze New Mexico, LLC, a New Mexico limited liability company, Nuevo Holding, LLC, a New Mexico limited liability company,
and Nuevo Elemental Holdings, LLC, a New Mexico limited liability company, as grantors, pledgors, assignors, debtors and guarantors (together
with any successors in such capacities, and together with the Issuer, the “Grantors”, and each, a “Grantor”),
in favor of Chicago Atlantic Admin LLC, in its capacity as collateral agent pursuant to the Indenture (as hereinafter defined), as pledgee,
assignee and secured party (in such capacities and together with any successors in such capacities, the “Collateral Agent”)

 

W I T N E S S E T H:

 

WHEREAS, Issuer has
authorized a new series of Senior Secured Convertible Notes (the “Notes”) pursuant to the Indenture (hereinafter defined).
The parties have, in connection with the execution and delivery of this Agreement, entered into the (i) Securities Purchase Agreement
(the “Purchase Agreement”), dated as of December 3, 20201, by and among the Grantors and the “Buyers”
(as defined in the Purchase Agreement) and (ii) Indenture, dated as of December 7, 2021 (as amended, amended and restated, supplemented
or otherwise modified from time to time, the “Indenture”) among the Grantors, Chicago Atlantic Admin, LLC, as Agent,
and Ankura Trust Company, LLC, as Trustee; capitalized terms used but not otherwise defined herein shall have the meanings assigned to
such terms in the Indenture.

 

WHEREAS, each Grantor
will receive substantial direct and indirect benefits from the execution, delivery and performance of the obligations under the Indenture
and the other Note Documents and each is, therefore, willing to enter into this Agreement.

 

WHEREAS, pursuant to
such Purchase Agreement, Grantors have granted to Agent, for its own benefit and for the ratable benefit of each other Secured Party,
security interests in and to and Liens on substantially all of each Grantor’s assets (other than the Excluded Property), including
without limitation all of each Grantor’s Intellectual Property and specifically including all of each Grantor’s registered
trademarks and all of each Grantor’s filed trademark applications, all whether now owned or hereafter created, arising and/or acquired,
except for “intent-to-use” United States trademark applications to the extent that an amendment to allege use or statement
of use has not been filed under 15 U.S.C. §1051(c) or 15 U.S.C. §1051(d), respectively, or if filed, has not been deemed in
conformity with 15 U.S.C. §1051(a) or (c) (collectively, the “Registered Trademarks”); and

 

WHEREAS, Grantors have
agreed to execute and deliver this Agreement and to have a copy of this Agreement filed with the United States Patent and Trademark Office
in order to perfect and/or protect all of Agent’s Liens in the Registered Trademarks.

 

NOW, THEREFORE, in
consideration of the premises and mutual covenants and agreements provided for herein and in the Purchase Agreement, and for other good
and valuable considerations, the receipt and sufficiency of which are hereby acknowledged by each party hereto, and intending to be legally
bound, the parties hereto agree as follows:

 

 

 

    	 	 	 

     

    

 

Section
1. Grant of Security Interest in Trademark
Collateral. Without limiting any other grant of Lien by Grantors in any Collateral under the Purchase Agreement or any Loan
Documents, to secure the prompt payment and performance of all Secured Obligations to Agent, Grantors hereby grant to Agent, for its
benefit and for the ratable benefit of each other Lender, a continuing security interest in and to and Lien on all of
Grantors’ right, title and interest in, to and under the following Collateral of Grantors, all whether now owned and/or
existing or hereafter created, arising and/or acquired (the “Trademark Collateral”):

 

(a) all
of its registered trademarks and filed trademark applications, including, without limitation, those referred to on Schedule 1
hereto or on any Schedule to any Supplement delivered hereafter, together with all renewals, reversions and extensions of the foregoing;

 

(b) all
goodwill of the business connected with the use of, and symbolized by, each such trademark and trademark application covered by (b) above;

 

(c) all
applications, registrations, claims, awards, judgments, amendments, improvements and insurance claims related thereto now or hereafter
owned or licensed by a Grantor, or any claims for damages by way of any past, present, or future infringement of any of the foregoing,
together with all accessions and additions thereto and proceeds thereof (including, without limitation, any proceeds resulting under
insurance policies); provided, further, that the Trademark Collateral shall include, without limitation, all cash, royalty fees,
other proceeds, Receivables, accounts and general intangibles that consist of rights of payment to or on behalf of a Grantor or proceeds
from the sale, licensing or other disposition of all or any part of, or rights in, the Trademark Collateral by or on behalf of a Grantor;
and

 

(d) all
income, royalties, proceeds and liabilities at any time due or payable or asserted under and with respect to any of the foregoing, including,
without limitation, all rights to sue and recover at law or in equity for any past, present and future infringement, misappropriation,
dilution, violation or other impairment thereof.

 

The Trademark
Collateral shall not include any Excluded Property.

 

Section
2. Purchase Agreement. The security interest
granted pursuant to this Agreement is granted in conjunction with, and in no way limits, the security interests granted to the Agent
pursuant to the Purchase Agreement, and each Grantor hereby acknowledges and agrees that the rights and remedies of the Agent with
respect to the security interests and Liens in the Trademark Collateral made and granted hereby are more fully set forth in the
Purchase Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the
event of a conflict between the provisions of this Agreement and the Purchase Agreement, the Purchase Agreement shall control.

 

Section
3. Registration/Filing. This Agreement is
intended by the parties to be filed, and Grantors hereby authorize Agent to file and record a copy of this Agreement, with the
United States Patent and Trademark Office.

 

Section
4. Grantors Remains Liable. Grantors hereby agree that, anything herein to the contrary notwithstanding, each Grantor shall
retain full and complete responsibility for the prosecution, defense, enforcement or any other necessary or desirable actions in
connection with its Intellectual Property subject to a security interest hereunder.

 

Section
5.  Agreement to Deliver Supplements.
Grantors hereby covenant and agree that promptly upon the acquisition by any Grantor of any new Trademark Collateral registered
with, or subject to any application for registration filed with, the United States Patent and Trademark Office (“Registered
Trademark Collateral”), Grantors shall deliver to Agent a duly executed Supplement to this Agreement in the form of Exhibit
A hereto, listing all such newly acquired Registered Trademark Collateral on Schedule I thereto, pursuant to which Grantors
shall reconfirm the grant of a security interest in such newly acquired Registered Trademark Collateral to Agent, for its benefit
and for the ratable benefit of each other Lender, to secure the Secured Obligations. Each such Supplement is intended by the parties
to be filed, and Grantors hereby authorize Agent to file and record a copy of each such Supplement, with the United States Patent
and Trademark Office. Regardless of whether any Supplement is delivered by Grantors, and without limiting the generality of the
provisions of Section 1 hereof above, Grantors hereby confirm and agree that any and all such after-acquired Registered Trademark
Collateral, and all Trademark Collateral relating thereto, shall immediately and automatically upon any Grantor’s acquisition
of any right, title and interest therein become part of the Trademark Collateral hereunder.

 

 

    	 	2	 

     

    

 

Section
6.  Representation and Warranties. Grantors hereby represent and warrant to Agent that Schedule 1 sets forth a true and
correct list of all Registered Trademark Collateral owned by Grantors as of the Effective Date.

 

Section
7. Events of Default and Remedies. The
occurrence of any Event of Default under the Purchase Agreement shall constitute an “Event of Default” under this
Agreement. Upon the occurrence of and during the continuance of any such Event of Default, Agent, in addition to all other rights,
options, and remedies granted to Agent under the Purchase Agreement or any Loan Documents, or otherwise available to Agent at law or
in equity, may exercise, either directly or through one or more assignees or designees, with respect to the Trademark Collateral all
rights and remedies granted to it as a secured creditor under the Uniform Commercial Code.

 

Section
8. Termination. This Agreement shall terminate and the Lien on and security interest in the Trademark Collateral shall be released
upon the payment and performance of the Secured Obligations. Upon the termination of this Agreement, the Agent shall execute all documents,
make all filings, and take all other actions reasonably requested by the Grantors to evidence and record the release of the Lien on and
security interests in the Trademark Collateral granted herein.

 

Section
10. Counterparts.
This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which when taken together shall
constitute a single contract. Any signature delivered by a party by facsimile or electronic transmission (including email transmission
of a PDF copy) shall be deemed to be an original signature hereto.

 

Section
11. Governing Law. This Agreement and any claim, controversy, dispute or cause of action (whether in contract or tort or otherwise)
based upon, arising out of or relating to this Agreement and the transactions contemplated hereby and thereby shall be governed by, and
construed in accordance with, the laws of the State of New York. The other provisions of Section 14.06 (Governing Law and Waiver of Jury
Trial) of the Indenture are incorporated herein, mutatis mutandis, as if a part hereof.

 

[Signature Pages Follow]

 

 

 

    	 	3	 

     

    

 

IN WITNESS WHEREOF, this Trademark Security Agreement
has been executed and delivered as of the date first set forth above.

 

GRANTORS:

 

MEDICINE AND TECHNOLOGIES, INC.

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

DOUBLE BROW, LLC 

By: Schwazze Colorado, LLC, Sole
Member 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MISSION HOLDING, LLC 

By: Schwazze Colorado, LLC, Sole
Member 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

SCG HOLDING, LLC 

By: Medicine Man Technologies, Inc.,
Sole Member

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

 

[Signature Page to IP Security Agreement]

  

    	 	 	 

     

    

 

SCHWAZZE COLORADO, LLC 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

SCHWAZZE BIOSCIENCES, LLC 

By: Medicine Man Technologies, Inc.,
Sole Member

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

SBUD, LLC 

By: Schwazze Colorado, LLC, Manager

By: Medicine Man Technologies,
Inc., Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MEDICINE MAN CONSULTING, INC.

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: President

 

 

 

 

[Signature Page to IP Security Agreement]

 

 

    	 	 	 

     

    

 

TWO J’S LLC 

By: Medicine Man Technologies, Inc.,
Sole Member

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MESA ORGANICS LTD 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MESA ORGANICS II LTD 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MESA ORGANICS III LTD 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

 

 

 

[Signature Page to IP Security Agreement]

 

 

    	 	 	 

     

    

 

MESA ORGANICS IV LTD

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

PBS HOLDCO LLC 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

SCHWAZZE IP HOLDCO, LLC 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

MIH MANAGER, LLC 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

 

 

 

 

 

[Signature Page to IP Security Agreement]

 

 

    	 	 	 

     

    

 

EMERALD FIELDS MERGER SUB, LLC, as Grantor 

By: Schwazze Colorado, LLC, Member 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

NUEVO HOLDING, LLC, as Grantor 

By: Schwazze New Mexico, LLC, Manager

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

NUEVO ELEMENTAL HOLDING, LLC, as Grantor 

By: Schwazze New Mexico, LLC, Manager 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

SCHWAZZE NEW MEXICO, LLC, as Grantor 

By: Medicine Man Technologies, Inc.,
Manager

 

By: /s/ Justin Dye                                         

Name: Justin Dye 

Title: Chief Executive Officer

 

 

 

 

[Signature Page to IP Security Agreement]

 

    	 	 	 

     

    

 

COLLATERAL AGENT:

 

CHICAGO ATLANTIC ADMIN LLC

 

By: /s/ Peter Sack                                                  

Name: Peter Sack 

Title: Managing Director & Co-President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to IP Security Agreement]

 

 

    	 	 	 

     

    

 

Schedule 1 

to 

Trademark Security Agreement

 

TRADEMARKS

 

1.      Grantor’s
U.S. trademarks and trademark applications:

 

	
    Registration

    Number/Application Number
	
    Status
	
    Registration/

    Issue Date
	
    Mark
	
    Owner/

    Assignee
	
     

    Jurisdiction 

	20141685274	Live	11-08-2014	
     

    (Purplebee’s Logo)
	Mesa Organics Ltd.	Colorado
	20141685283	Live	11-08-2014	Purplebee’s	Mesa Organics Ltd.	Colorado
	20141763087	Live	12-18-2014	Purplebee’s

(tradename)	Mesa Organics Ltd.	Colorado
	20141763167	Live	12-18-2014	
    (Mesa Organics Logo)
	Mesa Organics Ltd.	Colorado
	20141763084	Live	12-8-2014	Mesa Organics (tradename)	Mesa Organics Ltd.	Colorado
	20141765000	Live	12-08-2014	Mesa Organics	Mesa Organics Ltd.	Colorado
	20191573121	Live	07-19-2019	Mesa Organics – Las Animas (tradename)	Mesa Organics IV Ltd.	Colorado
	20181757069	Live	09-25-2018	Mesa Organics – Ordway 

(tradename)	Mesa Organics II Ltd.	Colorado
	20191573127	Live	07-19-2019	
    Mesa Organics – Pueblo 

    (tradename)
	Mesa Organics Ltd.	Colorado
	20191387357	Live	05-04-2019	Mesa Organics – Rocky Ford (tradename)	Mesa Organics III Ltd.	Colorado
	20171537130	Live	07-17-2017/ 	Pure CO2.	Mesa Organics Ltd.	Colorado
	20181796049	Live	10-07-2018	 	Mesa Organics Ltd.	Colorado
	88832667	Pending	03-12-2020 (filing date) 		Medicine Man Technologies, Inc. 	USPTO 
	88879966	Pending	02-09-2021 (filing date) 		Medicine Man Technologies, Inc. 	USPTO 
	
    20201245809
	Live	03-18-2020	Schwazze	Medicine Man Technologies, Inc. 	Colorado
	88832670	Pending 	03-12-2020	SCHWAZZBERRY	Medicine Man Technologies, Inc. 	USPTO
	90835598	Pending	07-19-2021	GROW FORTH	Medicine Man Technologies, Inc. 	USPTO
	20201410613 	Live	05-06-2020	Schwazze	Mesa Organics II Ltd 	Colorado
	20201410636 	Live	05-06-2020	Schwazze	Mesa Organics Ltd. 	Colorado
	20201410655	Live	05-06-2020	Schwazze	Mesa Organics III Ltd	Colorado
	
    20201410663
	Live	05-06-2020	Schwazze	Mesa Organics IV Ltd	Colorado
	88747845	Pending	01/06/2020 (filing date) 	Schwazze	Medicine Man Technologies, Inc. 	USPTO 
	3810013	Live	06-29-2010	THE BIG TOMATO	Two J’s LLC	USPTO
	5164677	Live	03-21-2017		Success Nutrients, Inc.[1]	USPTO

 

___________________

[1]
Note to Draft: The current record owner of this mark is Success Nutrients, Inc. and Medicine Man Technologies, Inc. is in the process
of transferring record ownership into its name.

 

 

    	 	 	 

     

    

 

EXHIBIT A

 

SUPPLEMENT TO TRADEMARK SECURITY AGREEMENT

 

THIS SUPPLEMENT TO TRADEMARK
SECURITY AGREEMENT (the “Supplement”) made as of this [_]day of [_], [_] by [______], a [___] corporation
(“Grantor”), in favor of Chicago Atlantic Admin LLC, in its capacity as collateral agent pursuant to the Indenture
(as hereinafter defined), as pledgee, assignee and secured party (“Agent”).

 

W I T N E S S E T H

 

WHEREAS, Grantor and Agent are
parties to a certain Trademark Security Agreement effective as of December 15, 2021 (as the same heretofore may have been and hereafter
may be amended, restated, supplemented or otherwise modified from time to time, the “Trademark Agreement”). Capitalized
terms used herein but not otherwise defined herein shall have the meanings given thereto in the Trademark Agreement;

 

WHEREAS, pursuant to the terms
of the Trademark Agreement, to secure the prompt payment and performance of all Secured Obligations to Agent and each other Lender, Grantor
has assigned, pledged and granted to Agent, for its benefit and for the ratable benefit of each other Lender, a continuing security interest
in and to and Lien on all of Grantor’s right, title and interest in, to and under the Trademark Collateral of Grantor, all whether
now owned or hereafter created, arising and/or acquired; and

 

WHEREAS, also pursuant to the
Trademark Agreement, Grantor has agreed that upon the acquisition by Grantor of any new Registered Trademark Collateral, Grantor shall
deliver to Agent a Supplement to the Trademark Agreement in the form of Exhibit A to such Trademark Agreement pursuant to which Grantor
shall reconfirm the grant by them of a security interest in all such newly acquired Registered Trademark Collateral, which such Supplement
is intended by the parties to be filed with the United States Patent and Trademark Office.

 

NOW, THEREFORE, in consideration
of the premises set forth herein and for other good and valuable consideration, receipt and sufficiency of which are hereby acknowledged
by each party hereto, and intending to be legally bound, and with the foregoing background and recitals incorporated by reference, Grantor
agrees as follows:

 

1. Grant
and Reaffirmation of Grant of Security Interests. Without limiting any other grant of Lien by Grantor in any Collateral under the
Purchase Agreement or any Loan Documents, to secure the prompt payment and performance of all Secured Obligations to Agent and each other
Lender, Grantor hereby grants to Agent, for its benefit and for the ratable benefit of each other Lender, a continuing security interest
in and to and Lien on all of Grantor’s right, title and interest in, to and under the following Collateral of Grantor, all whether
now owned or hereafter created, arising and/or acquired:

 

(a)
the newly acquired Registered Trademark Collateral listed on Schedule 1 to this Supplement (together with all reissues, reexaminations,
continuations, continuations-in-part, divisionals, renewals and extensions of the foregoing);

 

(b)
all goodwill of the business connected with the use of, and symbolized by, any trademark and trademark application covered by
(a) above; and

 

(c)
all other property otherwise constituting Trademark Collateral relating to the foregoing.

 

 

    	 	 	 

     

    

 

Grantor
agrees that all such newly acquired Trademark Collateral described above shall be included in and be part of the Trademark Collateral
under and subject to all of the terms and provisions of the Trademark Agreement. Grantor hereby authorizes Agent to file and record a
copy of this Supplement with the United States Patent and Trademark Office.

 

2. Representations
and Warranties. Grantor hereby represents and warrants to Agent that Schedule I hereto sets forth a true and correct list of all
Registered Trademark Collateral owned by Grantor as of the date hereof not listed on Schedule 1 to the original Trademark Agreement or
any Schedule to any other Supplement to the original Trademark Agreement delivered by Grantor since the date thereof.

 

3. Incorporation
of the Trademark Agreement. The terms and provisions of the Trademark Agreement are hereby incorporated by reference and this Supplement
shall be considered an amendment and supplement to and part of the Trademark Agreement, all of the provisions of which Trademark Agreement
are and remain in full force and effect.

 

[Signatures on Following Page]

[Remainder of Page Left Intentionally Blank]

 

 

 

    	 	 	 

     

    

 

 

IN WITNESS WHEREOF, Grantor
has duly executed this Supplement to the Trademark Security Agreement as of the date first written above.

 

GRANTOR:

 

[                                   ]

 

By: _______________________________ 

Name: 

Title: 

 

 

ACCEPTED AND AGREED 

as of the date first above written:

 

CHICAGO ATLANTIC ADMIN LLC

 

By: ___________________________________

Name: Peter Sack

Title: Managing Director & Co-President

 

 

 

 

 

[Signature Page to Trademark Security Agreement
— Supplement Date ________]

 

 

    	 	 	 

     

    

 

 

 

SCHEDULE I TO SUPPLEMENT TO TRADEMARK

SECURITY AGREEMENT

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