Document:

EX-10.3

 Exhibit 10.3 

STOCK OPTION AGREEMENT 

(NON-QUALIFIED STOCK OPTION) 

THIS STOCK OPTION AGREEMENT (this “Agreement”), dated as of the
             day of              (the “Grant Date”), is between Electroblate, Inc., a Nevada corporation
(the “Company”), and              (“Optionee”). 

R E C I T A L S 

A. The Company has adopted resolutions to provide equity-based compensation incentives in the form of options to purchase shares of the Company’s common
stock (the “Common Stock”) in order to motivate, reward and retain personnel and to further align the interests of the personnel with those of the stockholders of the Company. 

B. Optionee is eligible to receive a stock option and, upon executing a Notice of Exercise in the form attached hereto, to purchase shares of Common Stock of
the Company. 
 C. Subject to the satisfaction of the conditions set forth herein, the Company desires to grant to Optionee a stock option to purchase
shares of Common Stock, and Optionee is willing to accept such option, upon the terms and conditions hereinafter set forth. 
 D. The option set forth in
this Agreement is intended to be a non-qualified stock option, not entitled to the benefits offered by a qualified option under Section 422 of the Internal Revenue Code. 

E. The option is not issued under any award plan, other than the resolutions of the Board of Directors authorizing the Option and the terms hereof. 

NOW, THEREFORE, the parties hereto, in consideration of the mutual covenants contained herein, agree as follows: 

1. Option. The Company hereby grants to Optionee a non-qualified option to purchase up to seventy five thousand, six hundred and fifty five
(75,655) shares of Common Stock (the “Option Shares”) at an exercise price of $2.67 per share (the “Option”). The Option shall be subject to the terms and provisions of this Agreement. 

2. Vesting. Subject to the Term as set forth in Section 3 below, the Option will be vested in twelve (12) installments of three months each,
commencing on May 1, 2015 (the “Initial Vesting Date”), and ending on the final installment date of February 1, 2018. 
 3. Term.

 (a) The Option shall remain exercisable from the Grant Date until the fifth anniversary of the Grant Date (the “Term”), subject
to the early termination events set forth herein. During the Term, the Optionee may exercise the Option in whole or in part at any time and from time to time. Thereafter, at the end of the Term or upon an early termination event, the Option shall
expire and become unexercisable. 

  
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 (b) If the Optionee’s employment with, or other service to, the Company terminates for any
reason (other than death, disability or cause) or for no reason, then any portion of the Option which is then exercisable shall remain exercisable during the ninety (90) day period following such termination or, if sooner, until the expiration
of the Term and, to the extent not exercised within such period, shall thereupon terminate. 
 (c) If an Optionee’s employment or other
service is terminated by the Company for Cause (defined below), then any Option held by the Optionee, whether or not then exercisable, shall immediately terminate and cease to be exercisable. For purposes of this provision, the term
“Cause” means (1) in the case where there is no employment, consulting or similar service agreement between the Optionee and the Company or any of its subsidiaries or where such an agreement exists but does not define
“cause” (or words of like import), a termination classified by the Company or any of its subsidiaries, as a termination due to the Optionee’s (i) commission of, or entry of a plea of guilty or no contest to any felony, fraud,
misappropriation, embezzlement or other crime of moral turpitude; (ii) commission of, or entry of a plea of guilty or no contest to any crime or offense involving money or property of the Company; (iii) dishonesty or fraud; or
(iv) insubordination, willful misconduct, refusal to perform services or materially unsatisfactory performance of duties; or (2) in the case where there is an employment, consulting or similar service agreement between the Optionee and the
Company or any of its subsidiaries that defines “cause” (or words of like import), a termination that is or would be deemed for “cause” (or words of like import) under such agreement. 

(d) During the Term, if the Optionee’s employment with, or other service to, the Company terminates for reasons of death or Disability
(defined below), then any portion of the Option which is then exercisable shall remain exercisable during the one (1) year period following the death or Disability of the Optionee or, if sooner, until the expiration of the Term and, to the
extent not exercised within such period, shall thereupon terminate. The exercise may be made by the Optionee’s executor, administrator, guardian or other legal representative, as the case may be. For purposes of this provision, the term
“Disability” means that an Optionee is unable to carry out the responsibilities and functions of the position held by the Optionee by reason of any medically determinable physical or mental impairment for a period of not less than ninety
(90) consecutive days. An Optionee will not be considered to have incurred a Disability unless he or she furnishes proof of such impairment sufficient to satisfy the board of directors of the Company in its discretion. 

4. Manner of Exercising Option. 
 (a)
Subject to the satisfaction of the conditions contained in this Agreement, the Option may be exercised by delivering to the Secretary or other officer of the Company a Notice of Exercise in the form attached hereto as Exhibit A, duly completed and
executed by Optionee or his or her legal representative, together with payment in full for the shares of Common Stock purchased thereby. 

  
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 (b) No shares of Common Stock shall be delivered to any Optionee until the Optionee has made
arrangements acceptable to the Company for the satisfaction of any federal, state, or local income and employment tax withholding obligations (calculated at the statutory minimum amount for such withholding), including, without limitation,
obligations incident to the receipt of shares. Upon exercise of the Option the Company shall withhold or collect from the Optinee an amount sufficient to satisfy such tax obligations, including, but not limited to, by surrender of the whole number
of shares covered by the Option, if applicable, sufficient to satisfy the applicable tax withholding obligations incident to the exercise or vesting of an Option (calculated at the statutory minimum amount for such withholding). In the event of an
exercise based on the net value as provided herein, the Company may require any amount for taxes due to be paid to the Company in cash in connection with the net value exercise. 

(c) Notwithstanding anything in this Agreement to the contrary, but subject to the provisions for the payment of any taxes due, at the
discretion of the Optionee, the aggregate exercise price of the portion of this Option being exercised may be paid, in whole or in part, (i) by cash or check payable to the Company; (ii) by surrender to the Company of that number of fully
paid and non-assessable shares of Common Stock owned by the Optionee based on the Fair Market Value (defined below) equal to applicable exercise price; or (iii) by means of a “net value” exercise which reduces the number of Option
Shares to be received upon such exercise to a “Net Number” of Option Shares determined according to the following formula: 
 Net
Number = (A x (B - C))/B. For purposes of the foregoing formula: 
 A = the total number of Option Shares with respect to
which this Option is then being exercised; 
 B = the last reported sale price (as reported by the principal national
securities exchange on which the Common Stock is then traded) of the Common Stock on the trading date immediately preceding the date of the applicable exercise of this Option; and 

C = the exercise price then in effect at the time of such exercise. 

“Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 

(i) If the Common Stock is listed on one or more established stock exchanges or national market systems, including without limitation the
Nasdaq Capital Market, its Fair Market Value shall be the closing sales price for the stock (or the closing bid, if no sales were reported) as quoted on the principal exchange or system on which the Common Stock is listed (as determined by the board
of directors or appropriate committee) on the date of determination (or, if no closing sales price or closing bid was reported on that date, as applicable, on the last trading date such closing sales price or closing bid was reported), as reported
in The Wall Street Journal or such other source as the board of directors or appropriate committee deems reliable; 

  
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 (ii) If the Common Stock is regularly quoted on an automated quotation system or by a recognized
securities dealer, its Fair Market Value shall be the closing sales price for such stock as quoted on such system or by such securities dealer on the date of determination, but if selling prices are not reported, the Fair Market Value of a share of
Common Stock shall be the mean between the high bid and low asked prices for the Common Stock on the date of determination (or, if no such prices were reported on that date, on the last date such prices were reported), as reported in The Wall Street
Journal or such other source as the board of directors or appropriate committee deems reliable; or 
 (iii) In the absence of an established
market for the Common Stock of the type described in (i) and (ii) above, the Fair Market Value thereof shall be determined by the board of directors or appropriate committee in good faith. 

(d) It is specifically intended that any exercise contemplated hereunder be exempt from the “short-swing profit” rule of
Section 16(b) of the Exchange Act of 1934, as amended (the “Exchange Act”), as provided by Rule 16b-3 of the Exchange Act. 
 5. Corporate
Transactions. In the event of a Corporate Transaction (defined below), this Option will convert into a similar option to acquire securities of the surviving entity in as near terms as provided for in this Agreement, as approved by the board of
directors or appropriate committee of the Company, in good faith negotiations with the resulting company. For purposes of this provision, the term “Corporate Transaction” means a merger or consolidation of the Company in which the Company
is not the surviving entity, except for a transaction the principal purpose of which is to change the state in which the Company is incorporated. 
 6.
Piggyback Registration Rights. 
 (a) If the Company at any time proposes to register any of its securities under the Securities Act
of 1933, as amended (“Securities Act”), other than in respect of an initial public offering, for sale to the public (except with respect to registration statements on Forms S-4, S-8 or another form not available for registering the Common
Stock issuable on exercise of the Option for sale to the public), at each time it will give written notice at the applicable address of record to the Optionee of its intention to do so. Upon the written request of the Optionee, given within twenty
(20) days after receipt by the Optionee of the notice, the Company will, subject to the limits contained in this Section 6, use its reasonable commercial efforts to cause all of the shares of Common Stock issuable on exercise of the Option
(“Registrable Shares”) to be registered under the Securities Act and qualified for sale under any state blue sky law, all to the extent required to permit such sale or other disposition of said Registrable Shares; provided, however, that
if the Company is advised in writing in good faith by any managing underwriter of the Company’s securities being offered in a public offering pursuant to such registration statement that the amount to be sold by persons other than the Company
(collectively, “Selling Stockholders”) is greater than the amount which can be offered without adversely affecting the offering, the Company may reduce the amount offered for the accounts of Selling Stockholders (including shares of Common
Stock held by the Optionee) to a number deemed satisfactory by such managing underwriter. The reduction of the shares held by the Selling Stockholders will be done on a pro rata basis. 

  
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 (b) The expenses of registering the Registrable Shares for the Optionee will be borne by the
Company. The Optionee will bear the expenses of the sale of the Registrable Shares. 
 7. Lock Up Provisions. 

(a) The Optionee agrees that in connection with any initial public offering (“IPO”) by the Company of its common stock, during the
period beginning on and including the date of the underwriting agreement through and including the date that is 365 days after the date of the underwriting agreement for the IPO (the “Lock-Up Period”), the Optionee, or any affiliated party
of the Optionee or any successor in interest to the Option and the common stock issued upon exercise of the Option, will not, without the prior written consent of the lead underwriter for the IPO and the Company, directly or indirectly: 

(i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, lend or otherwise transfer or dispose of this Option or any shares of Common Stock issuable hereunder, or 

(ii) enter into any swap or other agreement, arrangement or transaction that transfers to another, in whole or in part, directly or
indirectly, any of the economic consequence of this Option or the Common Stock issuable hereunder, 
 whether any transaction described in clause
(i) or (ii) above is to be settled by delivery of this Option, Common Stock, other securities, in cash or otherwise. Moreover, if: 

(1) during the last 17 days of the Lock-Up Period, the Company issues an earnings release or material news or a material event relating to the
Company occurs, or 
 (2) prior to the expiration of the Lock-Up Period, the Company announces that it will release earnings results during
the 16-day period beginning on the last day of the Lock-Up Period, the Lock-Up Period shall be extended and the restrictions imposed by this agreement shall continue to apply until the expiration of the 18-day period beginning on the date of
issuance of the earnings release or the occurrence of the material news or material event, as the case may be, unless the lead underwriter for the IPO and the Company each waives, in writing, such extension. 

(b) Notwithstanding the provisions set forth in the immediately preceding paragraph, the undersigned may, without the prior written consent of
the lead underwriter, transfer the Option or any Common Stock issued under the Option as a bona fide gift or gifts, or by will or intestacy, to any member of the immediate family (as defined below) of the undersigned or to a trust the beneficiaries
of which are exclusively the undersigned or members of the undersigned’s immediate family or to a charity or educational institution; provided, however, that it shall be a condition to the transfer that (A) the transferee executes and
delivers to lead underwriter of the IPO and the Company not later than one business day prior to such transfer, a written agreement, in substantially the form of this agreement and otherwise satisfactory in form and substance to the lead underwriter
for the IPO and the Company, and (B) if the undersigned is required to file a 

  
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report under Section 16(a) of the Securities Exchange Act of 1934, as amended, reporting a reduction in beneficial ownership of the Option or the Common Stock issued under the Option by the
Optionee during the Lock-Up Period (as the same may be extended as described above), the Optionee shall include a statement in such report to the effect that such transfer or distribution is not a transfer for value and that such transfer is being
made as a gift or by will or intestacy, as the case may be For purposes of this paragraph, “immediate family” shall mean a spouse, child, grandchild or other lineal descendant (including by adoption), father, mother, brother or sister of
the undersigned. 
 8. Release. By signing below, Optionee, on behalf of himself or herself, his or her successors and assigns, hereby releases and
forever discharges the Company and the present and former officers, directors, shareholders, employees, agents and attorneys of each of them from any and all actions, causes of action, damages, judgments, liabilities, obligations and claims
whatsoever, in law or in equity, whether known or unknown, relating to, and covenants not to sue based on, any and all of the Company’s commitments made by the Company prior to the date hereof to issue Optionee stock options or other equity
incentives. 
 9. No Transfer or Assignment. In addition to the Lock Up Provision set forth in Section 7 hereof, the Option may not be sold,
pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by (i) will and by the laws of descent and distribution and (ii) during the lifetime of the Optionee, to the extent and in the manner authorized by the
board of directors or appropriate committee, but only to the extent such transfers are made to family members, to family trusts, to family controlled entities, to charitable organizations, and pursuant to domestic relations orders, in all cases
without payment for such transfers. Any purported sale, pledge, assignment, hypothecation, transfer, or disposition in contravention of this Section 8 shall be null and void ab initio. 

10. Compliance with Laws and Regulations. 

(a) The Company will not be obligated to issue or deliver shares of Common Stock pursuant to this Agreement unless the issuance and delivery of
such shares complies with applicable law, including, without limitation, the Securities Act of 1933, as amended, the Securities Act of 1934, as amended, and the requirements of any stock exchange or market upon which the Common Stock may then be
listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
 (b) In connection with
the exercise of this Option, Optionee will execute and deliver to the Company such representations in writing as may be requested by the Company that it may comply with the applicable requirements of federal and state securities laws. 

11. Notices. All notices, requests, demands, waivers, consents, approvals or other communications pursuant to this Agreement shall be in writing and
delivered to the Company at its principal executive offices, Attention: Secretary, or to Optionee at the residence address reflected in the records maintained by the Company. 

  
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 12. No Rights of Stockholder. Neither Optionee nor any legal representative of Optionee shall be, or have
any of the rights and privileges of, a stockholder of the Company with respect to any shares subject to the Option except to the extent that certificates for such shares shall have been issued upon the exercise of the Option as provided for herein.

 13. Construction. The board of directors or appropriate committee shall have exclusive authority to interpret and construe the Option, and its
determinations with respect thereto shall be final and binding on the Company and Optionee. 
 14. No Rights Conferred. Nothing contained in this
Agreement shall confer upon Optionee any right with respect to the continuation of his or her employment or other service with the Company or its subsidiaries or interfere in any way with the right of the Company and its subsidiaries at any time to
terminate such employment or other service or to increase or decrease, or otherwise adjust, the other terms and conditions of the Optionee’s employment or other service. 

15. Entire Agreement; Amendment. This Agreement sets forth the entire understanding of the parties hereto with respect to the subject matter hereof.
This Agreement may not be amended or supplemented except by a written instrument duly executed by each of the parties hereto; provided, however that the Company’s board of directors or appropriate committee may amend the terms of this Agreement
at any time without the written consent of the Optionee provided that such amendment does not adversely affect the rights of the Optionee. 
 16.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to its principles of conflict of laws. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed by its duly authorized
officer, and Optionee has executed this Agreement, as of the day and year above written. 
  

									
	ELECTROBLATE, INC.	 		 		 	OPTIONEE
					
	By:	 	 	 		 		 	 
	Name:	 		 		 	
	Title:	 		 		 	

  
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 Exhibit A 

NOTICE OF EXERCISE 
 TO: Electroblate, Inc. 

The undersigned hereby exercises his/her option to purchase             
shares of Common Stock of Electroblate, Inc. (the “Company”), as provided in the Stock Option Agreement dated as of             ,
20             at $             per share, for an aggregate purchase price of $
             (the “Purchase Price”). 
 The undersigned is
hereby paying the Purchase Price as follows (check one of the following): 

             (i) The undersigned has enclosed herewith payment by cash or
check made payable to the order of the Company in the amount of the Purchase Price; or 

             (ii) The undersigned has received the prior approval of the
Company that it will accept payment of the Purchase Price by the surrender to the Company of that number of fully paid and non-assessable shares of Common Stock owned by the undersigned Optionee which have an aggregate value equal to the Purchase
Price and the undersigned has therefore enclosed herewith stock certificate number              representing a total of
             shares of Common Stock in order to surrender to the Company              shares of Common Stock in
payment of the Purchase Price; or 
              (iii) The undersigned
has received the prior approval of the Company that it will accept payment of the Purchase Price by means of a “net value” exercise and the undersigned hereby requests the Company to deliver to him/her
             shares of Common Stock (the number of shares derived by a net value exercise) in full satisfaction of the exercise hereunder. 

The undersigned hereby represents and warrants that it is his/her present intention to acquire and hold the aforesaid shares of Common Stock
of the Company for his/her own account for investment, and not with a view to the distribution of any thereof, and agrees that he/she will make no sale, thereof, except in compliance with the applicable provisions of the Securities Act of 1933, as
amended. 
  

					
	Signature:	  	 	  	
			
	Name (print)    	  	 	  	
			
	Address:	  	 	  	
			
		  	 	  	
			
	Dated:	  	 	  	

  
 9EX-10.4

 Exhibit 10.4 
  

 
 September 15, 2014 

Electroblate, Inc. 
 401 Wilshire Blvd. – Suite 1020 

Santa Monica, CA 90401 
  

	 	Re:	Engagement Agreement 

 Dear Sirs: 

This letter agreement (the “Agreement”) confirms the terms and conditions that will govern Electroblate, Inc. (together with its
affiliates, subsidiaries, predecessors, and successors, the “Company”) engagement (the “Engagement”) of MDB Capital Group, LLC (together with its affiliates, “MDB”) as the Company’s exclusive financial advisor and
placement agent in connection with an offering or series of offerings of Company securities. 
 1. Exclusive Appointment; Services.

 a. Exclusive Appointment. The Company hereby appoints MDB to act as its exclusive placement agent in connection with the sale of
its securities, including but not limited to equity, debt, equity-linked securities, or equity capital commitments (“Securities”) to one or more financial, strategic, accredited, or other investors. The transactions currently contemplated
consist of the following: (1) a private placement of approximately $6.5 million of Company common stock; and (2) a public offering of approximately $20 million of Company Securities. However, it is understood that the manner, size, and
timing of the contemplated transactions may change, and more or fewer transactions may occur, and the exclusive appointment of MDB covers any and all offerings or sales of any type or form, including but not limited to private placements, registered
direct offerings, institutional offerings under Rule 144A and similar arrangements, mergers and acquisitions, loans, and public offerings, on any basis, agency or underwritten (each, an “Offering”). 

During the term of this Agreement, the Company will not, nor will it permit any of its advisors or representatives to, engage any party other
than MDB to act as placement agent or underwriter for any Offering, or to perform any other financial advisory, underwriting, or investment banking services for the Company. If the Company or, to the Company’s knowledge, any of its
subsidiaries, stockholders, members, partners, affiliates, advisors or representatives, is contacted by any person concerning an Offering of Securities or expressing a desire to purchase Securities, the Company shall provide to MDB all relevant
details of the inquiry. 
 b. Services. MDB represents and warrants that it is a licensed broker/dealer under applicable federal and
state securities law. MDB further represents that it is not subject to any of the disqualifying factors of Rule 506(d), of Regulation D promulgated by the Securities and Exchange Commission. MDB shall assist the Company in identifying investors and
potential purchasers, carrying out due diligence 

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
  p.
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with respect to any potential Offering, and analyzing, structuring, and negotiating the contemplated Offering(s) on the terms and conditions set forth herein. In the case of private Offerings,
MDB shall undertake to arrange such transactions on a “best efforts” basis; in the case of a public offering, where MDB is the managing or lead underwriter, it shall underwrite a public Offering, if any, on a “firm commitment”
basis. However, nothing contained herein constitutes a commitment or guarantee, express or implied, that any Offering will be consummated. MDB will not have the power or authority to bind the Company to any sale of the Securities, and any Offering
will be conducted at a price and on terms satisfactory to the Company. MDB will have the right, but not the obligation, to determine the allocation of the Securities among prospective purchasers, if necessary, provided that such allocation is
reasonably acceptable to the Company. 
 2. Compensation. As consideration for the services provided under this Agreement, the
Company will pay MDB a fee as follows: 
 a. Fee. The Company shall pay MDB a cash fee (the “Fee”) equal to ten percent
(10%) of the Gross Transaction Value (defined below) of any Offering, which is due and payable at the time of each closing of an Offering (“Closing”) (directly from escrow, if an escrow account is used). 

As used herein, the term “Gross Transaction Value” shall be any consideration whether paid directly or indirectly to or by the
Company, or an affiliate, or to any of its stockholders, directors, officers or other management personnel, or to any third party at the direction of the Company, so long as such consideration is paid in connection with an Offering, including, but
not limited to: 
  

	 	i.	all cash, Securities or other property; 

  

	 	ii.	the aggregate principal amount of any indebtedness assumed in connection with the Offering; 

  

	 	iii.	all contingent future payments (including, but not limited to, milestone payments, royalties, or any other payments based upon future sales, profits or otherwise); 

 

	 	iv.	any payments for non-compete covenants or consulting agreements; 

  

	 	v.	the net value of any assumed liabilities; and 

  

	 	vi.	the net value of any excess benefits which are realized by any party or any stockholder, director, officer, employee or agent thereof as a result of contractual arrangements providing for benefits to it which are
greater than those which would be available to it on an arm’s length basis. 

 If the Gross Transaction Value is paid in
whole or in part in the form of Securities or property other than cash, the value of such Securities or property, for purposes of calculating MDB’s fee, shall be deemed to be the fair market value thereof on the day prior to the Closing, as the
Company and MDB shall mutually agree; provided, however, that if such Securities consist of freely trading Securities for which there is an existing public trading market, the fair market value thereof shall be deemed to be the average of the last
sales prices for such Securities on the ten (10) trading days ending five (5) days prior to Closing. With respect to contingent or non-contingent future payments, the value will be determined, and the payment made, at such future date.

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
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 b. Warrants. In addition to the Cash Fee, immediately upon Closing, the Company shall
sell to MDB warrants (“Warrants”) to purchase the same type and character of Securities as are issued in the Offering or if a Security that can be equated to Common Stock, then shares of Common Stock (e.g., Common Stock), in an
amount equal to ten percent (10%) of the aggregate Securities issued in the Offering for the sum of $1,000. Such Warrants will be for a term of seven (7) years. In connection with any public Offering, Warrants will be priced at not less
than 120% (one hundred twenty percent) of the Offering price per share; provided however, in connection with any private Offering, Warrants issued hereunder will have an exercise price equal to the per share or unit selling price of the Securities
sold to investors in the Offering. The Warrants will contain cashless exercise and anti-dilution provisions and representations and warranties normal and customary for warrants issued to placement agents or underwriters, and will not be callable or
terminable prior to the expiration date. No adjustment will be made to the exercise price or number of shares underlying the Warrants in the event of subsequent financings. Common stock underlying the Warrants will have registration rights set forth
in a registration rights agreement that will be similar to those rights provided to investors in the Offering (if any), subject to FINRA approval. Additionally, if Warrants are to be issued in connection with a registered public offering, then the
Warrants and underlying Securities will be registered on the registration statement. For the sake of clarity, the registration rights will be separate as between the investors and MDB, and they will be transferrable with the Warrants or underlying
securities, if transferred as restricted stock. The Company shall bear all costs and expenses of registration, including the filing and clearing of one or more registration statements. The Warrants may be issued to any persons or entities designated
by MDB. 
 c. Other Fee Provisions; Fee Tail. The entire Fee and Warrants will be payable in respect of any other sale or placement
of Company Securities that closes or is in process during the term of this Agreement regardless of whether such sale has been arranged by MDB, by another agent, or directly by the Company, other than in connection with an Offering that is subject to
compensation review by and compliance with rules of FINRA. Upon termination of this Agreement for any reason, the Company shall promptly pay MDB its accrued but unpaid fees and unreimbursed expenses incurred as of the date of termination.
Notwithstanding any termination of this Agreement, MDB shall be entitled to the entire Fee and Warrants set forth in Section 2(a)-(b) if, within one (1) year of the later to occur of (i) the termination of this Agreement or
(ii) the last Closing of any Offering arranged by MDB, the Company consummates or enters into an agreement for the sale of Securities or to obtain financing or other benefit with any person or entity contacted by MDB in connection with this
engagement (each, an “MDB Investor”) and in connection with an Offering other than an Offering that is a public Offering under a registration statement. Any and all such fees shall be payable upon the Closing of any such sale. To the
extent that any Fee or Warrant compensation is required to be reduced from the amounts stated herein, due to the rules of FINRA, then the amounts due hereunder will be adjusted accordingly. 

d. Expenses. The Company is responsible for all costs and expenses associated with any Offering of its Securities, provided that in
connection with an Offering that is subject to filing with and compliance with the compensation rules of FINRA, the Company and MDB will negotiate a maximum reimbursable amount. Promptly upon request, the Company shall reimburse MDB for all
reasonable out-of-pocket expenses incurred in connection with this Engagement, including but not limited to reasonable travel, printing, and the fees and expenses of legal counsel and any other 

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
  p.
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independent advisors selected and retained by MDB (with the Company’s consent, which shall not be unreasonably withheld), subject to the following: 

i. MDB Expenses. With the exception of legal fees and expenses, any single expense in excess of $1,000 (one thousand dollars) will not
be incurred without the Company’s prior approval. 
 ii. Legal Expenses. It is understood that the amount of MDB’s legal
expenses necessarily depends on the manner and size of any Offering the Company pursues. Prior to MDB’s engagement of counsel with respect to any Offering, public or private, the Company shall deposit with MDB a refundable legal fee retainer of
$25,000 (twenty-five thousand dollars). With respect to any single private Offering, the Company shall not be expected to reimburse MDB more than $25,000 (twenty-five thousand dollars) in legal fees. It is understood that the fees of MDB’s
counsel for any public Offering (“Underwriter’s Counsel”) will significantly exceed $25,000 but will not exceed the market rate for similar services by counsel of commensurate reputation, experience, and skill; legal fees for
Underwriter’s Counsel shall be negotiated in good faith and approved by the Company (which approval shall not be unreasonably withheld) prior to commencement of any work by Underwriter’s Counsel with respect to any public Offering of
Company Securities, it being understood that in no event will MDB advance legal fees on the Company’s behalf. 
 e. Executive
Placement Fees; Background Checks. Should the Company request MDB to recruit executives for the Company, the Company agrees to pay in connection therewith a fee of up to $40,000 for the CEO and $25,000 for each other executive or member of the
Board of Directors, with a maximum total placement fee for all persons of $150,000. The fee will be payable upon hiring. If MDB provides other assistance to the Company or recruiters working on the Company’s behalf to hire executives or members
of the Board of Directors, then the Company shall reimburse MDB for any and all reasonable out-of-pocket expenses actually incurred, including fees and expenses paid to third parties. It is the understanding of the Company and MDB that the Company
will not have to pay recruiting fees to more than one recruiting firm for each executive, director or other person. Background checks on existing or potential executives or directors, if deemed necessary by MDB in its sole discretion, will be funded
directly by the Company in the amount of $2,500 each. 
 f. Payments. All payments to be made to MDB hereunder will be made in cash
by wire transfer of immediately available U.S. funds. Except as expressly set forth herein, no fee payable to MDB hereunder shall be credited against any other fee due to MDB. The obligation to pay any fee or expense set forth herein shall be
absolute and unconditional and shall not be subject to reduction by way of setoff, recoupment or counterclaim. 
 3. Manner of Offering;
Representations and Warranties of the Company. The Company warrants and agrees that: 
 a. Due Diligence. The Company will fully
cooperate with MDB in any due diligence investigation reasonably requested by MDB in connection with the Engagement and will furnish MDB with such information with respect to the business, operations, assets, liabilities, financial condition and
prospects of the Company, including but not limited to financial statements, certificates of its senior officers regarding such information, and opinions of counsel and other independent advisors, 

  

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and such other documents as MDB may from time to time reasonably request (the “Company Information”) to assist in preparing a private placement memorandum, registration statement, or
similar document for use in connection with any Offering and will provide MDB with access to the officers, directors, employees, accountants, counsel and other representatives (collectively, the “Representatives”) of the Company. The
Company represents and warrants that all Company Information provided to MDB, including but not limited to the Company’s financial statements, will be complete and correct in all material respects and will not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company acknowledges and confirms that
MDB (i) will use and rely upon the accuracy and completeness of all such Company Information without independently investigating or verifying same; (ii) has not been retained to independently verify any such Company Information;
(iii) assumes no responsibility for the accuracy, completeness, or adequacy for any purpose of such Company Information or any other information regarding the Company; and (iv) will not make any appraisal of any assets of the Company. 

b. Offering Materials. The Company will be solely responsible for the contents of the private placement memorandum, registration
statement, or other offering document, other than for information provided in writing by MDB to the Company concerning the plan of distribution, pricing of the Securities offered, and MDB and its affiliates (as such may be amended or supplemented
from time to time, and including any information incorporated therein by reference, the “Offering Materials”) and any and all other written or oral communications, other than underwriter free writing prospectus or solicitation materials,
provided by or on behalf of the Company to any actual or prospective purchaser of the Securities, and the Company represents and warrants that the Offering Materials (other than with respect to any financial projections contained therein, if any),
registration statement, and such other communications will not, as of the date of the offer or sale of the Securities, contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which they were made, not misleading. With respect to any financial projections that may be contained in the Offering Materials (the “Projections”), the Company
represents and warrants that the Projections will be made with a reasonable basis and in good faith and that the Projections will represent the best then-available estimate and judgment as to the future financial performance of the Company based on
the assumptions to be disclosed therein, which assumptions will be all the assumptions that are material in forecasting the financial results of the Company and which will reflect the best then-available estimate of the events, contingencies and
circumstances described therein. The Company authorizes MDB to provide the Offering Materials and related communications to prospective and final purchasers of the Securities. 

If, at any time prior to the completion of the offer and sale of the Securities, an event occurs that would cause the Offering Materials,
registration statement, or other selling communications, other than any underwriter free writing prospectus or solicitation materials, to contain an untrue statement of a material fact or to omit to state a material fact necessary in order to make
the statements therein, in light of the circumstances under which they were made, not misleading, or that would cause a material change in the Company’s view of the likelihood of achievement of the Projections or the reasonableness of the
underlying assumptions, then the Company will notify MDB immediately of such event, and MDB will suspend solicitations of the 

  

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September 15, 2014 
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prospective purchasers of the Securities until such time as the Company shall prepare a supplement or amendment to the Offering Materials, registration statement, and selling communications that
corrects such statement or omission or revises the Projections or such assumptions. 
 c. Reliance Upon Company Representations and
Opinions of Counsel, Etc. The Company agrees that any representations and warranties made by it to any investor in the Offering shall be deemed also to be made to MDB for its benefit, and MDB shall be entitled to rely upon the same opinions of
counsel and accountant’s letters that are provided to purchasers of the Securities. Accordingly, the Company shall cause any such opinion or letter delivered to any investors in the Offering also to be addressed and delivered to MDB, or cause
such counsel to deliver to MDB a letter authorizing it to rely upon such opinion. 
 d. Compliance with State Securities Laws. The
Company will be solely responsible for all applicable state securities law compliance with respect to the offer and sale of the Securities, including the timely making of any filings or taking other actions required under the applicable securities
or “blue sky” laws or regulations of such domestic states as MDB reasonably may specify and the continuation of qualifications in effect for so long as may be required. The Company will provide MDB with copies of any pertinent filings at
the time they are made, and to the extent any filing contains information relating to MDB and/or the terms of this Engagement, MDB will be provided a copy of the intended filing sufficiently in advance to permit time for review and comment.
Compliance with state securities laws will be at the Company’s sole expense. 
 e. Offerings Exempt from Registration. To the
extent that any Offering is designated as one to be made pursuant to an applicable exemption from registration under the Securities Act of 1933, as amended (the “Act”), the Company agrees that it will not, directly or indirectly, make any
offer or sale of any Securities which would cause the contemplated Offering to fail to be entitled to the applicable exemption or unreasonably limit the availability of a public registered Offering or an Offering in which MDB will act. In
particular, the Company represents and warrants to MDB that it has not, directly or indirectly, made any offers or sales of Securities which would cause the Offering of the Securities contemplated hereunder to fail to be entitled to the exemption
from registration afforded by Section 4(2) of the Act. As used herein, the terms “offer” and “sale” have the meanings specified in Section 2(3) of the Act. 

To the extent that an Offering is designated as one to be made pursuant to Regulation D under the Act, the offer and sale of the Securities
will comply with the requirements of Regulation D, including, without limitation, the requirements that: 
 (i) The Company will not offer
or sell the Securities by means of any form of general solicitation or general advertising, unless MDB agrees that there may be a public form of general solicitation, which consent may be withheld in the discretion of MDB. 

(ii) The Company will not offer or sell the Securities to any person who is not an “accredited investor” (as defined in Rule 501
under the Act), and to the extent any offer is made pursuant to Rule 506(c) MDB and the Company will obtain the necessary verifications that any investor is an accredited investor, as the Company determines necessary. 

  

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 (iii) The Company will exercise reasonable care to assure that the purchasers of the
Securities are not underwriters within the meaning of Section 2(11) of the Act and, without limiting the foregoing, that such purchasers will comply with Rule 502(d) under the Act. 

(iv) The Company will obtain verification that none of its officers, directors (or equivalent) and 20% shareholders of the Company are not
subject to the “bad boy” disqualifications set forth in Rule 506(d). 
 (v) The Company will not make any filings with the
Securities and Exchange Commission with respect to the offer and sale of the Securities without prior notification to MDB. 
 f. Use of
Proceeds. None of the proceeds of the Offering will be used to make or repay loans to, or purchase assets from, any officer, director or executive management of the Company, or any sponsor, general partner, manager or advisor or any of the
Company’s affiliates, except as identified in Schedule B hereto. 
 g. Independent Directors. At the time of the closing of an
Offering, where either Securities and Exchange Commission regulation or the rules of a national exchange require the Company to have independent board members, the Company shall identify any independent directors, using the standards for independent
board members set forth in NASD Rule 5605(b), unless the Company Securities are listed on a national exchange with superior independence standards, in which case the board members will meet the more stringent standards. 

h. No Disciplinary Action. Neither the Company, nor any officer, director, or executive management of the Company, nor any sponsor,
general partner, manager, advisor, or affiliate of the Company, has been the subject of SEC, FINRA, or state disciplinary actions or proceedings or criminal complaints within the last ten years, except as identified in Schedule C hereto. 

i. Audits. The Company shall be solely responsible for performing, and shall perform, all financial audits necessary to meet the
listing requirements of the NASDAQ, NYSE, or AMEX exchanges, as appropriate. 
 j. IP Development. At the request of MDB, the Company
shall retain a professional patent strategy firm reasonably acceptable to MDB in terms of scope of services and fees. 
 k. Additional
Pre-Offering Requirements. Prior to any Offering, the Company shall ensure that its capital structure, employee stock option plan, and Board of Directors are reasonably acceptable to MDB and, where applicable, the Company shall cause all holders
to convert all notes and preferred shares to Common Stock with the extinguishment of attached rights. 
 l. Lock-Up Period. In the
event of an IPO and listing on an exchange by the Company, all shares, shares underlying options, warrants and convertible securities and the options, warrants and convertible securities themselves, held at that time by any of the directors,
officers and 5% or greater shareholders of the Company (excluding 5% shareholders who are investors in the an Offering), ODURF, EVMS, AMI, MDB (as to their founder shares) and Pamela and Richard Nuccitelli (and

  

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September 15, 2014 
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their respective direct and indirect affiliates) and such other holders of the Company securities as designated by MDB, will agree not to sell directly or indirectly any of their securities of
the Company for a period of 12 months following the initial public offering and listing on an exchange (collectively, the “12 Month Lock-Up Securities”). Regardless of the foregoing, all Fee shares or shares underlying Warrants received or
to be received by MDB hereunder and all fee shares/shares underlying warrants received or to be received by the IP Development Company pursuant to subsection (j) above, if any, may not be sold or redeemed for a period of 180 days only,
following the initial public offering and initial listing on an exchange. Any of the 12 Month Lock-Up Securities may be sold or transferred in a private transaction notwithstanding the applicable lock-up, so long as the purchaser or transferee
thereof agrees to be bound by the aforementioned lock-up arrangements for the balance of the applicable lock-up period. Investors in an Offering that is in the manner of a bridge financing, if any, will be required to not sell or transfer their
shares and other securities for a period of 180 days after any initial public offering and initial listing on an exchange of Company that may be underwritten by MDB or in which MDB participates as an underwriter or selling group member, which
lock-up agreement will provide that MDB is a third party beneficiary. Any of the foregoing lock-up provisions may only be released or modified upon the written consent of MDB acting together with the Company. 

m. Investor Relations Firm; Investor Conference Calls. For a period of two (2) years from the Closing of an Offering, the Company
shall retain an investor relations firm reasonably acceptable to MDB in terms of scope of services and fees, which firm should have the ability to perform investor relations and product and company branding functions. For a period of two
(2) years from the Closing of an Offering, the Company, with the aid of the investor relations firm, will announce and hold investor and public conference calls at least quarterly, at which the Company will review its quarterly and annual
financial results and give guidance for the financial results of the then fiscal year, which information will also be made available in a press release and Form 8-K. 

n. Post-Offering Commitments. For a period of two (2) years from the Closing of an Offering, the Company shall, no less than 24
hours prior to making any public filing or announcement, provide to MDB all such proposed public filings and announcements for its review and comment, unless MDB gives notice to the Company of it foregoing receiving the public filing or
announcement, which waiver may be given for a specific period of time, for a specific filing, or permanently. 
 4. Confidentiality.
Reference is made to that certain Mutual Non-Disclosure Agreement effective June 26, 2013, as amended effective March 6, 2014 and as further amended effective as of June 25, 2014, among and between MDB, the Alfred E. Mann Institute
for Biomedical Engineering at the University of Southern California, BioElectroMed, Inc., NanoBlate Corp., Eastern Virginia Medical School, Old Dominion University Research Foundation, and ThelioPulse, Inc. (the “NDA”), which was adopted
and ratified by the Company on or about April 9, 2014] The NDA will continue to govern the treatment of Confidential Information (as defined in the NDA) exchanged by the parties in connection with the performance of this Agreement, and the term
of the NDA shall be deemed extended, if necessary, to coincide with the Term of this Agreement. 
 Notwithstanding any provision of the NDA
to the contrary, MDB is authorized to transmit to any prospective investor in the Offering the following: confidential material furnished by the Company or prepared by MDB in conjunction with the Company for transmission to prospective investors;
and forms of purchase 

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
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agreements and any other legal documentation supplied to MDB for transmission to any prospective investor by or on behalf of the Company. The Company authorizes MDB to execute, on the
Company’s behalf, confidentiality agreements in a form acceptable to the Company with such prospective investors. 
 5.
Indemnification. The Company agrees to indemnify MDB and related persons in accordance with the indemnification agreement attached as Exhibit A, which is incorporated herein by this reference. The provisions of Exhibit A shall survive any
termination or expiration of this Agreement. 
 6. Term and Termination. MDB’s Engagement will commence upon the execution of
this Agreement and shall continue in effect for a period of one (1) year (the “Initial Term”). During the Initial Term, this agreement may not be terminated by the Company absent gross misconduct of MDB. After the expiration of the
Initial Term, the Agreement shall automatically renew and continue in effect until it is terminated by either party with thirty (30) days’ written notice to the other pursuant to Section 19. Upon termination of this Agreement for any
reason, the rights and obligations of the parties hereunder shall terminate, except for the obligations set forth in Sections 2, 3(b)-(n), 4-13, and Exhibit A, which shall survive termination. 

Notwithstanding any termination of this Agreement, the Company will cooperate fully with MDB by promptly providing information and cooperating
with investigations for the limited purposes of enabling MDB to ensure compliance with the terms of this Agreement and assisting MDB in fulfilling its due diligence, reporting, or legal obligations in connection with the Engagement. Any Confidential
Information provided for this purpose will be subject to confidential treatment by MDB as set forth herein at Section 4. 
 7.
Additional Services; Right of First Refusal based on Private Offering. Should the Company request MDB to perform any services or act in any capacity not specifically addressed in this Agreement, such services or activities shall constitute
separate engagements, the terms and conditions of which will be embodied in separate written agreement(s) and will include appropriate indemnification provisions. The indemnity provisions of Exhibit A shall apply to any such additional engagements
(whether or not covered by a separate written agreement), unless and until superseded by a written indemnity provision set forth in a subsequent agreement. 

In the event that MDB has earned the fees set forth in Section 2(a) and (b) in connection with the sale of Securities in the private
placement contemplated in Section 1(a), then MDB shall, for 12 (twelve) months following the closing of such transaction, have the right but not the obligation to act as sole and exclusive advisor, manager, underwriter or placement agent to the
Company on the next transaction for which the Company would require the services of an investment bank. Such transaction to which this right applies shall be at a competitive market rate for compensation of investment bankers and include, but is not
limited to, merger and/or acquisitions transactions and additional Offerings of any type (public or private). 
 8. Other Transactions;
Disclaimers. The Company acknowledges that MDB is engaged in a wide range of investing, investment banking and other activities (including investment management, corporate finance, securities issuance, trading and research and brokerage
activities) from which conflicting interests or duties, or the appearance thereof, may arise. Information held elsewhere within MDB but not 

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
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accessible (absent a breach of internal procedures) to its investment banking personnel providing services to the Company will not under any circumstances affect MDB’s responsibilities to
the Company hereunder. The Company further acknowledges that MDB and its affiliates have and may continue to have investment banking, broker-dealer and other relationships with parties other than the Company pursuant to which MDB may acquire
information of interest to the Company. MDB shall have no obligation to disclose to the Company or to use for the Company’s benefit any such non-public information or other information acquired in the course of engaging in any other transaction
(on MDB’s own account or otherwise) or otherwise carrying on the business of MDB. The Company further acknowledges that from time to time MDB’s independent research department may publish research reports or other materials, the substance
and/or timing of which may conflict with the views or advice of MDB’s investment banking department and/or which may have an adverse effect on the Company’s interests in connection with the transactions contemplated hereby or otherwise. In
addition, the Company acknowledges that, in the ordinary course of business, MDB may trade the securities of the Company for its own account and for the accounts of its customers, and may at any time hold a long or short position in such securities.
MDB shall nonetheless remain fully responsible for compliance with federal securities laws in connection with such activities. 
 It is
expressly understood and agreed that MDB has not provided nor is undertaking to provide any advice to the Company relating to legal, regulatory, accounting, or tax matters. The Company acknowledges and agrees that it has relied and will continue to
rely on the advice of its own legal, tax and accounting advisors in all matters relating to any Offering contemplated hereunder. 
 The
Company further acknowledges and agrees that MDB will act solely as an independent contractor hereunder, and that MDB’s responsibility to the Company is solely contractual in nature and that MDB does not owe the Company or any other person or
entity, including but not limited to its shareholders, any fiduciary or similar duty as a result of the Engagement or otherwise. 
 The
Company agrees that neither MDB nor any of its controlling persons, affiliates, directors, officers, employees or consultants shall have any liability to the Company or any person asserting claims on behalf of or in right of the Company for any
losses, claims, damages, liabilities or expenses arising out of or relating to the Engagement, unless it is finally judicially determined that such losses, claims, damages, liabilities or expenses resulted solely from the gross negligence or willful
misconduct of MDB. 
 9. Announcements. The Company acknowledges that MDB, at its option and expense, and no earlier than the first
to occur of (i) the signing of definitive agreements regarding an Offering or (ii) the public announcement of an Offering, may place announcements and advertisements or otherwise publicize an Offering (which may include the reproduction of
the Company’s logo and a hyperlink to the Company’s website) on MDB’s website and in such financial and other newspapers and journals as it may choose, stating that MDB has acted as an agent in connection with or advised the Company
about such Offering. 

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
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 10. Complete Agreement; Amendments; Assignment. This Agreement sets forth the entire
understanding of the parties relating to the subject matter hereof and supersedes and cancels any prior communications, understandings and agreements, whether oral or written, between MDB and the Company. This Agreement may not be amended or
modified except in writing. The rights of MDB hereunder shall be freely assignable to any affiliate of MDB, and this Agreement shall apply to, inure to the benefit of and be binding upon and enforceable against each of the parties and their
successors and assigns. 
 11. Third Party Beneficiaries. This Agreement is intended solely for the benefit of the parties hereto
and, with the exception of the rights and benefits conferred upon the Indemnified Parties by Section 5 and Exhibit A of this Agreement, shall not be deemed or interpreted to confer any rights upon any third parties. 

12. Governing Law; Jurisdiction; Venue. All aspects of the relationship created by this Agreement shall be governed by and construed in
accordance with the laws of the State of California, applicable to contracts made and to be performed in California, without regard to its conflicts of laws provisions. All actions and proceedings which are not submitted to arbitration pursuant to
Section 13 hereof shall be heard and determined exclusively in the state and federal courts located in the County of Los Angeles, State of California, and the Company and MDB hereby submit to the jurisdiction of such courts and irrevocably
waive any defense or objection to such forum, on forum non conveniens grounds or otherwise. The parties agree to accept service of process by mail, to their principal business address, addressed to the chief executive officer and secretary thereof.
The parties hereby agree that this Section 12 shall survive the termination and/or expiration of this Agreement. 
 13.
Arbitration. Any dispute, claim or controversy arising out of or relating to this Agreement or the breach, termination, enforcement, interpretation or validity thereof, including the determination of the scope or applicability of this
agreement to arbitrate, shall be determined by arbitration in Los Angeles (with the exception of claims to enforce the indemnity provision contained herein, which may, at the option of the party seeking relief, be submitted either to arbitration or
to any court of competent jurisdiction). The arbitration shall be administered either by FINRA Dispute Resolution pursuant to its Code of Arbitration Procedure, or if FINRA cannot or does not accept the arbitration, by JAMS pursuant to its
Streamlined Arbitration Rules and Procedures. Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate
jurisdiction. 
 The arbitrator may, in the Award, allocate all or part of the costs of the arbitration, including the fees of the
arbitrator and the reasonable attorneys’ fees of the prevailing party. 
 The parties hereby agree that this Section 13 shall
survive the termination and/or expiration of this Agreement. 
 The Company’s consent to Arbitration must be confirmed by initialing
below: 
  
  

14. Severability. Should any one or more covenants, restrictions and provisions contained in this Agreement be held for any reason to
be void, invalid or unenforceable, in whole or in part, such unenforceability will not affect the validity of any other term of this Agreement, and the invalid provision will be binding to the fullest extent

  

 MDB Engagement Letter / Electroblate, Inc. 

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permitted by law and will be deemed amended and construed so as to meet this intent. To the extent any provision cannot be so amended or construed as a matter of law, the validity of the
remaining provisions shall be deemed unaffected and the illegal or invalid provision will be deemed stricken from this Agreement. 
 15.
Section Headings. The section headings herein are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof. 

16. Accounting. Any calculation, computation or accounting that may be required under this Agreement shall be made in accordance and
conformity with the Generally Accepted Accounting Principles and other standards as determined by the Financial Accounting Standards board and regulatory agencies with appropriate jurisdiction. 

17. Counterparts. This Agreement may be executed via facsimile transmission and may be executed in separate counterparts, each of which
shall be deemed to be an original and all of which together shall constitute a single instrument. 
 18. Patriot Act. MDB hereby
notifies the Company that pursuant to the requirements of the USA PATRIOT Act (the “Patriot Act”), it is required to obtain, verify and record information that identifies the Company in a manner that satisfies the requirements of the
Patriot Act. This notice is given in accordance with the requirements of the Patriot Act. 
 19. Notice. All notices, demands, and
other communications to given pursuant to this Agreement shall be in writing and shall be personally delivered, sent by overnight delivery using a nationally recognized courier service, sent by facsimile transmission, or emailed. Notice shall be
deemed received: (a) if personally delivered, upon the date of delivery to the address of the receiving party; (b) if sent by overnight courier, the date actually received by the recipient; (c) if sent by facsimile or email, when
sent. The parties will each promptly notify the other of any changes to the following contact information. 
  

			
	Notices to MDB shall be sent to:	  	Notices to the Company shall be sent to:
		
	 MDB Capital Group, LLC
 401 Wilshire Blvd.,
Suite 1020
 Santa Monica, California 90401
 Fax:
(310) 526-5020
 Email: d@mdb.com
	  	

 If the above accords with your understanding and agreement, kindly indicate your consent hereto by signing
below. We look forward to a long and successful relationship with you. 
 Very truly yours, 

MDB CAPITAL GROUP LLC 

  

 MDB Engagement Letter / Electroblate, Inc. 

September 15, 2014 
  p.
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		 	 By: Anthony DiGiandomenico
 Head of
Investment Banking

	
	 ACCEPTED AND AGREED TO
 AS OF THE
DATE FIRST ABOVE WRITTEN:

	
	Electroblate, Inc.
	
	 
	 By: Christopher A. Marlett
 Its:
President

  

 EXHIBIT A 

MDB CAPITAL GROUP LLC 
 401 Wilshire Boulevard, Suite 1020 

Santa Monica, California 90401 
 Ladies and Gentlemen: 

In further consideration of the engagement by Electroblate, Inc. (the “Company”) of MDB Capital Group LLC (“MDB”) to act as
the Company’s exclusive placement agent in connection with a potential Offering or Offerings of securities, as such engagement is described in that letter agreement between us of even date (the “Engagement Agreement”), the Company
agrees to indemnify MDB and certain other persons provided for herein, as follows: 
 A. Indemnification Generally. The Company hereby
agrees to indemnify and hold harmless MDB Capital, its directors, officers, agents, employees, members, affiliates, subsidiaries, counsel, and each other person or entity who controls MDB or any of its affiliates within the meaning of
Section 15 of the Securities Act (collectively, the “Indemnified Parties”) to the fullest extent permitted by law from and against any and all losses, claims, damages, expenses, or liabilities (or actions in respect thereof)
(“Losses”), joint or several, to which they or any of them may become subject under any statute or at common law, and to reimburse such Indemnified Parties for any reasonable legal or other expense (including but not limited to the cost of
any investigation, preparation, response to third party subpoenas) incurred by them in connection with any litigation or administrative or regulatory action (“Proceeding”), whether pending or threatened, and whether or not resulting in any
liability, insofar as such losses, claims, liabilities, or litigation arise out of or are based upon (1) the engagement of MDB pursuant to the Engagement Agreement or subsequent agreement between the Company and MDB; (2) the Offering of
Company Securities contemplated by the Engagement Agreement or subsequent agreement between the Company and MDB; (3) any other matter referred to or contemplated by the Engagement Agreement or subsequent agreement between the Company and MDB;
(4) any untrue statement or alleged untrue statement of any material fact contained in the private placement memorandum, offering materials, registration statement, or other offering or selling document (as may be amended or supplemented and
including any information incorporated therein by reference, the “Company Documentation”), or in any other written or oral communication provided by or on behalf of the Company to any actual or prospective purchaser of Securities (as that
term is defined in the Engagement Agreement), unless such untrue statement or alleged untrue statement arises solely from information supplied by any members, officers, agents or employees of MDB, in writing specifically for use therein; or
(5) the omission or alleged omission to state in the Company Documentation a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;
provided, however, that while the indemnity provisions herein shall include any and all claims regardless of whether MDB Capital’s sole negligence, active or passive, contributed to losses, they shall not apply to (i) amounts
paid in settlement of any such litigation if such settlement is effected without the consent of the Company, which consent will not be unreasonably withheld, (ii) Losses arising solely from the willful misconduct or gross negligence of
Indemnified Parties or (iii) Losses based on information provided in writing by MDB to the Company concerning the plan of distribution, pricing of the Securities offered, and MDB and its affiliates and other written

 
or oral communications that are underwriter free writing prospectus or solicitation materials; and provided that the Company will not be responsible for the fees and expenses of more than
one counsel to all Indemnified Parties, in addition to appropriate local counsel, unless in the reasonable judgment of any Indemnified Party there exists a potential conflict of interest which would make it inappropriate for one counsel to represent
all such Indemnified Parties. 
 B. Reimbursement. The Company will reimburse all Indemnified Parties for all reasonable expenses
(including, but not limited to, reasonable fees and disbursements of counsel for the Indemnified Parties) incurred by any such Indemnified Parties in connection with investigating, preparing, and defending any such action or claim, whether or not in
connection with pending or threatened litigation in connection with the transaction to which an Indemnified Parties is a party, promptly as such expenses are incurred or paid (unless the Indemnified Parties request they be paid in advance pursuant
to Subsection C below). 
 C. Advances. Notwithstanding any other provision hereof or any other agreement between the parties, the
Company shall advance, to the extent not prohibited by law, all expenses reasonably anticipated to be incurred by or on behalf of the Indemnified Parties in connection with any Proceeding, whether pending or threatened, within fifteen
(15) days of receipt of a statement or statements (“Statement(s)”) from the Indemnified Parties, or any of them, requesting such advances from time to time. This advancement obligation shall include any refundable retainers of
counsel retained by Indemnified Parties (as selected by Indemnified Parties in their sole and absolute discretion), subject to the restriction that the Company shall not be required to advance legal fees of the Indemnified Persons with respect to
more than one (1) law firm that is representing the Indemnified Parties. If, due to conflict or other issues, the Indemnified Persons engage more than one law firm to represent them (or any of them), the Company’s indemnification
obligations under this Schedule A shall only apply as against one law firm representing MDB or the majority of the Indemnified Parties. Any Statement requesting advances shall evidence the expenses anticipated or incurred by the Indemnified Parties
with reasonable particularity and may include only those expenses reasonably expected to be incurred within the 60-day period following each Statement. In the event some portion of the amounts advanced pursuant to this Section C are unused, or in
the event a court of ultimate jurisdiction determines that the Indemnified Parties are not entitled to be indemnified against certain expenses, Indemnified Parties shall return the unused or disallowed portion of any advances within ninety
(90) days of the final disposition of any Proceeding to which such advances pertain, together with interest thereon at an annual percentage rate of 6%. 

D. Contribution. If such indemnification is for any reason not available or insufficient to hold an Indemnified Party harmless, the
Company agrees promptly to contribute to the Losses involved in such proportion as is appropriate to reflect the relative benefits received (or anticipated to be received) by the Company, on the one hand, and by MDB, on the other hand, with respect
to the Engagement or, if such allocation is determined by a court or arbitral tribunal to be unavailable, in such proportion as is appropriate to reflect other equitable considerations such as the relative fault of the Company on the one hand and of
MDB on the other hand; provided, however, that, to the extent permitted by applicable law, the Indemnified Parties shall not be responsible for amounts which in the aggregate are in excess of the amount of all cash fees, exclusive of
costs, actually received by MDB from the Company at the Closing in connection with the Engagement. Relative benefits to the Company, on the 

  
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one hand, and to MDB, on the other hand, with respect to the Engagement shall be deemed to be in the same proportion as (i) the total value received or proposed to be received by the Company
in connection with the Offering, whether or not consummated, bears to (ii) all fees received or proposed to be received by MDB in connection with the engagement. Relative fault shall be determined, in the case of Losses arising out of or based
on any untrue statement or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact, by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company to MDB and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or
omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act of 1933, as amended) shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation. 
 E. No Liability Without Gross Negligence or Misconduct. The Company agrees that no Indemnified Party shall have
any liability to the Company or its respective owners, successors, heirs, parents, affiliates, security holders or creditors for any Losses, except to the extent such Losses are determined, by a final, non-appealable judgment by a court or arbitral
tribunal of competent jurisdiction, to have resulted solely from such Indemnified Person’s gross negligence or willful misconduct or Losses based on information provided in writing by MDB to the Company concerning the plan of distribution,
pricing of the Securities offered, and MDB and its affiliates and other written or oral communications that are underwriter free writing prospectus or solicitation materials. 

F. Notice. MDB agrees, promptly upon receipt, to notify the Company in writing of the receipt of written notice of the commencement of
any action against it or against any other Indemnified Parties, in respect of which indemnity may be sought hereunder; however, the failure so to notify the Company will not relieve it from liability under Sections A above unless and to the extent
it did not otherwise learn of such action and such failure results in the forfeiture by the Company of substantial rights or defenses. 
 G.
Settlement. The Company will not, without MDB’s prior written consent, settle, compromise, or consent to the entry of any judgment in or otherwise seek to terminate any pending Proceeding in respect of which indemnification may be sought
hereunder (whether or not any Indemnified Party is a party therein) unless the Company has given MDB reasonable prior written notice thereof and such settlement, compromise, consent or termination includes an unconditional release of each
Indemnified Party from any liabilities arising out of such Proceeding. The Company will not permit any such settlement, compromise, consent or termination to include a statement as to, or an admission of, fault, culpability or a failure to act by or
on behalf of an Indemnified Party, without such Indemnified Party’s prior written consent. No Indemnified Party seeking indemnification, reimbursement or contribution under this Agreement will, without the Company’s prior written consent,
settle, compromise, consent to the entry of any judgment in or otherwise seek to terminate any Proceeding referred to herein. 

  
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 H. Survival; Successors. The indemnity, contribution and expense reimbursement obligations
set forth herein shall be in addition to any liability the Company may have to any Indemnified Party at common law or otherwise, and shall remain operative and in full force and effect notwithstanding the termination of this Agreement, the closing
of the contemplated Offering, and any successor of MDB or any other Indemnified Parties shall be entitled to the benefit of the provisions hereof. Prior to entering into any agreement or arrangement with respect to, or effecting, any merger,
statutory exchange or other business combination or proposed sale or exchange, dividend or other distribution or liquidation of all or a significant portion of its assets in one or a series of transactions or any significant recapitalization or
reclassification of its outstanding securities that does not directly or indirectly provide for the assumption of the obligations of the Company set forth herein, the Company will promptly notify MDB in writing thereof and, if requested by MDB,
shall arrange in connection therewith alternative means of providing for the obligations of the Company set forth herein, including the assumption of such obligations by another party, insurance, surety bonds or the creation of an escrow, in each
case in an amount and on terms and conditions reasonably satisfactory to MDB. 
 I. Consent to Jurisdiction; Attorneys’ Fees.
Solely for the purpose of enforcing the Company’s obligations hereunder, the Company consents to personal jurisdiction, service and venue in any court proceeding in which any claim subject to this Agreement is brought by or against any
Indemnified Party other than MDB. In any action for enforcement of this indemnity provision, the prevailing party shall be entitled to recover all costs, including reasonable attorneys’ fees, of bringing such an action. 

 

	
	Electroblate, Inc.
	
	   

	 By: Christopher A. Marlett
 Its:
President

  
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