Document:

Exhibit
10.4

 

EXECUTION
VERSION

 

AMENDED
AND RESTATED 

 

INTELLECTUAL
PROPERTY SECURITY AGREEMENT

 

This
INTELLECTUAL PROPERTY SECURITY AGREEMENT (this “Agreement”), dated as of January 18, 2022, is made by Kraig
Biocraft Laboratories, Inc., a Michigan Corporation (“Grantor”), in favor of YA II PN, LTD. (the “Secured
Party”), a Cayman Island exempted company.

 

WITNESSETH:

 

WHEREAS,
pursuant to that certain Securities Purchase Agreement, dated of even date herewith, by and between the Grantor and Secured Party (the
“Securities Purchase Agreement”), and pursuant to that certain Amended and Restated Security Agreement dated of even
date herewith, by and among the Grantor and the Secured Party (the “Security Agreement”), pursuant to which the Grantor
has granted Secured Party security interests in, and liens upon, substantially all of Grantor’s assets, including without limitation
all of Grantor’s Intellectual Property and specifically including all of Grantor’s registered United States Patents, Trademarks,
Copyrights and Domain Names, and all Grantor’s filed United States Patent Applications, Trademark Applications and Copyright Applications,
all whether now owned or hereafter created, arising and/or acquired (collectively, the “Intellectual Property Collateral”
as hereinafter further defined); and

 

WHEREAS,
in connection with a Securities Purchase Agreement by and among the Company and the Secured Party dated December 11, 2020 (the “December
2020 Securities Purchase Agreement”), issued to the Secured Party an amended and restated convertible debenture in an aggregate
original principal amount of $1,000,000 (the “2021 A&R Convertible Debenture”) of even date herewith, which shall
be convertible into Conversion Shares;

 

WHEREAS,
in connection with the Securities Purchase Agreement by and among the Company and the Secured Party dated March 25, 2021 (the “March
2021 Securities Purchase Agreement”), the Company agreed, upon the terms and subject to the conditions of the Securities Purchase
Agreement, to issue to the Secured Party an aggregate original principal amount of $4,000,000 of senior secured convertible debentures
(the “March 2025 Convertible Debentures”), which shall be convertible into shares of the Company’s Common Stock
(the “Conversion Shares”);

 

WHEREAS,
the Grantor executed and delivered to the Secured Party an Intellectual Property Security Agreement dated March 25, 2021 pursuant to
which the Grantor granted to the Secured Party security interests in, and liens upon, including without limitation, all of Grantor’s
Intellectual Property and specifically including all of Grantor’s registered United States Patents, Trademarks, Copyrights and
Domain Names, and all Grantor’s filed United States Patent Applications, Trademark Applications and Copyright Applications, all
whether now owned or hereafter created, arising and/or acquired (the “March 2021 Intellectual Property Security Agreement”)

 

    	 

     

    

 

WHEREAS,
it is a condition precedent to the Secured Party purchasing the Convertible Debentures pursuant to the Securities Purchase Agreement
that the Grantor execute and deliver to the Secured Party this amended and restated intellectual property security agreement of the March
2021 Intellectual Property Security Agreement to provide the Secured Party security interests in, and liens upon, substantially all of
Grantor’s assets, including without limitation all of Grantor’s Intellectual Property and specifically including all of Grantor’s
registered United States Patents, Trademarks, Copyrights and Domain Names, and all Grantor’s filed United States Patent Applications,
Trademark Applications and Copyright Applications, all whether now owned or hereafter created, arising and/or acquired (collectively,
the “Intellectual Property Collateral” as hereinafter further defined) to secure all of the Company’s obligations
under the “Transaction Documents” (as defined in the Securities Purchase Agreement and herein), March 2021 Securities Purchase
Agreement, the March 2021 Convertible Debentures, the Transaction Documents as defined in the March 2021 Securities Purchase Agreement
and related documents), the December 2020 Securities Purchase Agreement and the Transaction Documents (as defined in the December 2020
Securities Purchase Agreement and related documents) (the “Transaction Documents” (as defined in the Securities Purchase
Agreement and herein), the March 2021 Securities Purchase Agreement, the March 2021 Convertible Debentures, the Transaction Documents
as defined in the March 2021 Securities Purchase Agreement and related documents, the December 2020 Securities Purchase Agreement , the
2021 A&R Convertible Debenture, the Transaction Documents (as defined in the December 2020 Securities Purchase Agreement and related
documents) shall collectively be referred to as the “Transaction Documents”);

 

WHEREAS.
Grantor has agreed to execute and deliver this Agreement, and to have a copy of this Agreement filed with the United States Patent and
Trademark Office and/or the United States Copyright Office (as applicable), in order to provide notice and/or protect all of Secured
Party’s security interest in, and liens upon, the Intellectual Property Collateral;

 

NOW,
THEREFORE, in consideration of the premises and mutual covenants and agreements provided for herein and in the Securities Purchase Agreement
and the Security 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 Intellectual Property Collateral. Without limiting any other grant of any lien by any Grantor
in any Collateral under the Securities Purchase Agreement or any other of the Transaction Documents (as that term is defined in the Securities
Purchase Agreement), to secure the prompt payment and performance of all obligations to Secured Party, the Grantor hereby pledges and
grants to Secured Party a continuing security interest in and lien upon all of such Grantor’s right, title and interest in, to
and under Intellectual Property Collateral:

 

(a)
all of its registered/issued United States Patents and filed United States Patent Applications, including, without limitation, those
referred to on Schedule 1 hereto or on any Schedule to any Supplement (as defined below) delivered hereafter, together with all
reissues, reexaminations, continuations, continuations-in-part, divisional, renewals and extensions of the foregoing (the “Patents”);

 

    	 

     

    

 

(b)
all of its registered United States Trademarks, filed United States Trademark Applications, and common law trademarks, 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 (the “Trademarks”);

 

(c)
all goodwill of the business connected with the use of, and symbolized by, each of the Trademarks;

 

(d)
all of its registered United States Copyrights and filed United States Copyright 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 (the “Copyrights”);

 

(e)
all of its Internet Domain Names, including, without limitation, those referred to on Schedule 1 hereto or on any Schedule to
any supplement delivered hereafter, and all goodwill associated with the same (the “Domain Names”);

 

(f)
all applications, registrations, claims, awards, judgments, amendments, improvements and insurance claims related thereto now or hereafter
owned or licensed by 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); and

 

(g)
all cash, income, royalties, fees, other proceeds, receivables, accounts and general intangibles that consist of rights of payment to
or on behalf of Grantor, proceeds from the sale, licensing or other disposition of all or any part of, or rights in, the Intellectual
Property Collateral by or on behalf of Grantor, and 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;

 

which
such continuing security interest in and lien upon the Intellectual Property Collateral, and this Agreement, shall continue in full force
and effect to secure each of the obligations under the Transaction Documents (as that term is defined in the Securities Purchase Agreement),
unless and until the obligations have been indefeasibly satisfied and paid in full in cash and all commitments under the Transaction
Documents have been terminated.

 

    	 

     

    

 

Section
2. Security Agreement, The security interests and liens granted pursuant to this Agreement are granted in conjunction with, and
in no way limit, the security interests and liens granted to the Secured Party pursuant to the Security Agreement, and Grantor hereby
acknowledges and agrees that the rights and remedies of the Secured Party with respect to the security interests in and liens upon the
Intellectual Property Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions
of which are incorporated by reference herein as if fully set forth herein.

 

Section
3. Registration/Filing. The “Acknowledgement of Security Interest in Intellectual Property” attached hereto as Exhibit
B is intended by the parties to be filed, and Grantor hereby authorizes Secured Party to file and record a copy of such “Acknowledgement
of Security Interest in Intellectual Property”, with the United States Patent and Trademark Office and/or United States Copyright
Office, as applicable.

 

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

 

Section
5. Agreement to Deliver Supplements. Grantor hereby covenants and agrees that promptly upon the acquisition by Grantor of any
new Intellectual Property Collateral, Grantor shall deliver to Secured Party a duly executed supplement to this Agreement in the form
of Exhibit A hereto (a “Supplement”), listing all such newly acquired Intellectual Property Collateral on Schedule
I thereto, pursuant to which Grantor shall reconfirm the grant of a security interest in such newly acquired Intellectual Property Collateral
to Secured Party, to secure the Grantor’s obligations under the Securities Purchase Agreement and the other Transaction Documents,
as this term is defined in the Securities Purchase Agreement. Each Supplement is intended by the parties to be filed, and Grantor hereby
authorizes Secured Party to file and record a copy of each Supplement, with the United States Patent and Trademark Office and/or United
States Copyright Office, as applicable. Regardless of whether any Supplement is delivered by Grantor, and without limiting the generality
of the provisions of Section 1 hereof above, Grantor hereby confirms and agrees that any and all such after-acquired Intellectual Property
Collateral shall immediately and automatically upon Grantor’s acquisition of any right, title and interest therein become part
of the Intellectual Property Collateral hereunder. In the event that Grantor acquires any such new Intellectual Property Collateral but
Grantor fails for whatever reason to promptly execute and deliver a Supplement to Secured Party pursuant to this Section 5, Grantor hereby
authorizes Secured Party, acting under its Power of Attorney granted pursuant to Section 8 below, to at any time thereafter execute in
the name of Grantor an applicable Supplement with respect to such newly acquired Intellectual Property Collateral and to file the same
with the United States Patent and Trademark Office and/or United States Copyright Office, as applicable.

 

    	 

     

    

 

Section
6. Representation and Warranties. Grantor hereby represents and warrants to Secured Party that Schedule 1 sets forth a
full, complete and correct list of all Intellectual Property Collateral owned by Grantor as of the date hereof.

 

Section
7. Events of Default and Remedies. The occurrence of an Event of Default under the Transaction Documents shall constitute an “Event
of Default” under this Agreement. Upon the occurrence of and during the continuance of an Event of Default, in addition to
all other rights, options, and remedies granted to Secured Party under the Transaction Documents, or otherwise available to Secured Party
as a secured creditor at law or in equity, Secured Party may exercise, either directly or through one or more assignees or designees,
all rights and remedies granted to it as a secured creditor under the Uniform Commercial Code with respect to the Intellectual Property
Collateral. After the occurrence of an Event of Default, but before Secured Party shall take any action to pledge, convey, sell, transfer
title in, or otherwise dispose of any of the Intellectual Property Collateral, Secured Party shall provide thirty (30) days’ notice
in writing to Grantor, and provide Grantor the opportunity to cure such Event of Default. If Grantor does not cure such Event of Default
to the satisfaction of the Secured Party within the 30-day period, then Secured Party may, in its sole discretion, pledge, convey, sell,
transfer title in and/or otherwise dispose of any of the Intellectual Property Collateral.

 

Section
8. Power of Attorney. Without limiting the generality of any power of attorney granted to Secured Party under the Security Documents
or any other document, Grantor hereby authorizes Secured Party, its successors and assigns, and any officer, employee, attorney or agent
thereof, as Grantor’s true and lawful attorney-in-fact, with the power (a) to execute and endorse on behalf of and in the name
of Grantor any Supplement to this Agreement or other security agreement or similar document or instrument which Secured Party may deem
necessary or desirable in order to create, protect or perfect the security interest provided for herein in the Intellectual Property
Collateral and in each case to file or record any such Supplement or other security agreement or similar document or instrument with
the United States Patent and Trademark Office and/or the United States Copyright Office, as applicable, in the name of and on behalf
of Grantor, and (b) after the occurrence and during the continuance of an Event of Default, to execute and endorse on behalf of and in
the name of Grantor any assignment, bill of sale or similar document or instrument which Secured Party may deem necessary or desirable
in order for Secured Party to enforce, assign, pledge, convey or otherwise sell, transfer title in or dispose of the Intellectual Property
Collateral, and in each case to file or record with the United States Patent and Trademark Office and/or the United States Copyright
Office, as applicable, in the name of and on behalf of Grantor any such assignment or bill of sale or other document executed by Secured
Party, its successors and assigns, and any officer, employee, attorney or agent thereof under this power of attorney. Grantor hereby
unconditionally ratifies all that any person authorized under this power of attorney shall lawfully do or cause to be done by virtue
hereof and in accordance with the terms of hereof and of the Security Agreement. This Power of Attorney is coupled with an interest and
is and shall be irrevocable unless and until all of the obligations under the Transaction Documents (including any obligations to provide
cash collateral for any Letters of Credit) have been indefensibly paid in full in cash and satisfied, and all of the commitments under
the Transaction Documents have been terminated.

 

Section
9. Miscellaneous. This Agreement, and all matters relating hereto or arising herefrom (whether arising under contract law, tort
law or otherwise) shall, in accordance with Section 5-1401 of the General Obligations Law of the State of New York, be governed by and
construed in accordance with the laws of the State of New York. If any part of this Agreement is contrary to, prohibited by, or deemed
invalid under applicable laws or regulations, such provision shall be inapplicable and deemed omitted to the extent so contrary, prohibited
or invalid, but the remainder hereof shall not be invalidated thereby and shall be given effect so far as possible. This Agreement shall
be binding upon and inure to the benefit of Grantor and Secured Party, and their respective successors and assigns, except that Grantor
may not assign or transfer any of its rights or obligations under this Agreement without the prior written consent of Secured Party.
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 other electronic means of transmission (including email
transmission of a PDF copy) shall be deemed to be an original signature hereto.

 

[Signature
Pages Follow]

 

    	 

     

    

 

In
witness whereof, Grantor has caused this Intellectual Property Security Agreement to be executed and delivered by its duly authorized
officer as of the date first set forth above.

 

	 	GRANTOR:
	 	 
	 	KRAIG
                                            BIOCRAFT LABORATORIES, INC.,

    a
    Michigan Corporation

	 	 	 
	 	By:	                   
	 	Name:	 
	 	Title:	 

 

	ACCEPTED
    AND AGREED:	 
	 	 
	SECURED
    PARTY:	 
	 	 
	YA
    II PN, LTD.	 
	 	 	 
	By:	Yorkville
    Advisors Global, LP	 
	Its:	Investment
    Manager	 
	 	 	 
	By:	Yorkville
    Advisors Global II, LLC	 
	Its:	General
    Partner	 
	 	 	 
	By:
    	 	 
	Name:
    	 	 
	Title:
    	 	 

 

    	 

     

    

 

Schedule
1

to

Intellectual
Property Security Agreement

 

    	 

     

    

 

EXHIBIT
A

 

SUPPLEMENT
TO INTELLECTUAL PROPERTY SECURITY AGREEMENT

 

THIS
SUPPLEMENT TO INTELLECTUAL PROPERTY SECURITY AGREEMENT (the “Supplement”) made as of this___day of____________, 202___,
by Kraig Biocraft Laboratories, Inc., a Michigan Corporation (“Grantor”) in favor of YA II PN, LTD. (the “Secured
Party”), a Cayman Island exempted company.

 

WITNESSETH

 

WHEREAS,
Grantor and Secured Party are parties to a certain Intellectual Property Security Agreement, dated as of March 25, 2021 (as amended,
modified, supplemented, renewed, restated or replaced from time to time, the “IP Security Agreement”). Capitalized
terms used herein but not otherwise defined herein shall have the meanings given to such terms in the IP Security Agreement;

 

WHEREAS,
pursuant to the IP Security Agreement, to secure the prompt payment and performance of all obligations to Secured Party, Grantor has
assigned, pledged and granted to Secured Party, a continuing security interest in and to and lien upon all of such Grantor’s right,
title and interest in, to and under the Intellectual Property Collateral of Grantor, all whether now owned or hereafter created, arising
and/or acquired; and

 

WHEREAS,
pursuant to the IP Security Agreement, Grantor has agreed that upon the acquisition by Grantor of any new Intellectual Property Collateral,
Grantor shall deliver to Secured Party a Supplement to the IP Security Agreement in the form of Exhibit A thereto pursuant to which Grantor
shall reconfirm the grant by them of a security interest in and lien upon all such newly acquired Intellectual Property Collateral, which
such Supplement is intended by the parties to be filed with the United States Patent and Trademark Office and/or United States Copyright
Office, as applicable,

 

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 any security interest or lien by Grantor
in and upon any collateral under the Security Documents, to secure the prompt payment and performance of all obligations to Secured Party,
Grantor hereby assigns, pledges and grants to Secured Party, a continuing security interest in and to and lien upon 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 Intellectual Property Collateral listed on Schedule I 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 Intellectual Property Collateral relating to the foregoing.

 

Grantor
agrees that all such newly acquired Intellectual Property Collateral described above shall be included in and be part of the Intellectual
Property Collateral under and subject to all of the terms and provisions of the IP Security Agreement. Grantor hereby authorizes Secured
Party to file and record a copy of this Supplement with the United States Patent and Trademark Office and/or United States Copyright
Office, as applicable.

 

Representations
and Warranties. Grantor hereby represents and warrants to Secured Party that Schedule I hereto sets forth a full, complete and correct
list of all Intellectual Property Collateral owned by Grantor as of the date hereof not listed on Schedule I to the original IP Security
Agreement or any Schedule to any other Supplement to the original IP Security Agreement delivered by Grantor since the date thereof but
prior to the date hereof.

 

Incorporation
of the IP Security Agreement. The terms and provisions of the IP Security Agreement are hereby incorporated by reference and this
Supplement shall be considered an amendment and supplement to and part of the IP Security Agreement; all of the provisions of which IP
Security Agreement are and remain in full force and effect as supplemented by this Supplement.

 

[Remainder
of Page Left Intentionally Blank]

 

    	 

     

    

 

In
witness whereof, Grantor has duly executed this Supplement to the IP Security Agreement as of the date first written above.

 

	 	GRANTOR:
	 	 
	 	KRAIG
                                            BIOCRAFT LABORATORIES, INC.,

    a
    Michigan Corporation

	 	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 

 

	ACCEPTED
    AND AGREED:	 
	 	 
	SECURED
    PARTY:	 
	 	 
	YA
    II PN, LTD.	 
	 	 	 
	By:	Yorkville
    Advisors Global, LP	 
	Its:	Investment
    Manager	 
	 	 	 
	By:	Yorkville
    Advisors Global II, LLC	 
	Its:	General
    Partner	 
	 	 	 
	By:
    	 	 
	Name:
    	 	 
	Title:
    	 	 

 

    	 

     

    

 

Schedule
I

to

Intellectual
Property Security Agreement

 

    	 

     

    

 

EXHIBIT
B

 

Acknowledgement
of Security Interest in Intellectual Property

 

January
18, 2022

 

WHEREAS,
Kraig Biocraft Laboratories, Inc., a Michigan Corporation (“Grantor”) and YA II PN, LTD (the “Secured Party”)
are parties to a certain Intellectual Property Security Agreement, dated as of January 18, 2022 (a s amended, modified, supplemented,
renewed, restated or replaced from time to time, the “IP Security Agreement”) pursuant to which Grantor has granted
to Secured Party a continuing security interest in all right, title and interest of the Grantor in, to and under certain Intellectual
Property Collateral (the “Collateral”), to secure the payment, performance and observance of certain obligations defined
in a Securities Purchase Agreement between Grantor and Secured Party (the “Obligations”);

 

WHEREAS,
Grantor has adopted, used and is using, and holds all right, title and interest in and to, the Patents, Trademarks, Copyrights and Domain
Names (as those terms are defined in the IP Security Agreement) listed on the annexed Schedule 1;

 

WHEREAS,
Grantor has entered into a certain Securities Purchase Agreement, dated as of the date hereof, with Secured Party;

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor does hereby grant
to Secured Party a continuing security interest in the Collateral set forth on Schedule 1 hereto to secure the prompt payment,
performance and observance of the Obligations.

 

Grantor
does hereby further acknowledge and affirm that the rights and remedies of the Secured Party with respect to the Collateral are more
fully set forth in the IP Security Agreement and the other documents, the terms and provisions of which are hereby incorporated herein
by reference as if fully set forth herein.

 

All
capitalized terms used herein without definition have the same meanings given to such terms in the Transaction Documents (as that term
is defined in the Securities Purchase Agreement).

 

[Signature
Page Follows]

 

    	 

     

    

 

IN
WITNESS WHEREOF, the Grantor has caused this Acknowledgment to be duly executed by its officer thereunto duly authorized as of the date
first written above.

 

	 	GRANTOR:
	 	 
	 	KRAIG
                                            BIOCRAFT LABORATORIES, INC.,

    a
    Michigan Corporation

	 	 	 
	 	By:	                    
	 	Name:	 
	 	Title:	 

 

	ACCEPTED
    AND AGREED:	 
	 	 
	SECURED
    PARTY:	 
	 	 
	YA
    II PN, LTD.	 
	 	 	 
	By:	Yorkville
    Advisors Global, LP	 
	Its:	Investment
    Manager	 
	 	 	 
	By:	Yorkville
    Advisors Global II, LLC	 
	Its:	General
    Partner	 
	 	 	 
	By:
    	 	 
	Name:
    	 	 
	Title:
    	 	 

 

    	 

     

    

 

Schedule
1

to

Intellectual
Property Security AgreementExhibit
10.5

 

EXECUTION
VERSION

 

REGISTRATION
RIGHTS AGREEMENT

 

THIS
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of January 18, 2022 by and among KRAIG BIOCRAFT
LABORATORIES, INC., INC., a Wyoming corporation (the “Company”), and YA II PN, Ltd., a Cayman Islands exempt
limited partnership (the “Investor”).

 

WHEREAS:

 

A.
In connection with the Securities Purchase Agreement by and among the parties hereto of even date herewith (the “Securities
Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase Agreement,
to issue and sell to the Investor up to $3,000,000 of secured convertible debentures (the “Convertible Debentures”),
which shall be convertible into shares of the Company’s Class A common stock, no par value (the “Common Stock”)
(as converted, the “Conversion Shares”) and a warrant to purchase 12,500,000 shares of the Company’s Common
Stock in the form attached hereto as Exhibit B (“Warrant A”) (the “Warrant Shares”) and a warrant
to purchase 4,285,714 shares of the Company’s Common Stock in the form attached hereto as Exhibit B (“Warrant B”),
(collectively Warrant A and Warrant B shall be referred to as the “Warrants”) such shares of Common Stock to be issued
upon exercise of the Warrants shall be referred to as the “Warrant Shares”). Capitalized terms not defined herein
shall have the meaning ascribed to them in the Securities Purchase Agreement.

 

B.
To induce the Investors to execute and deliver the Securities Purchase Agreement, the Company has agreed to provide certain registration
rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or any similar successor statute (collectively,
the “Securities Act”), and applicable state securities laws and other rights as provided for herein.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Company and the Investors hereby agree as follows:

 

1.
DEFINITIONS.

 

As
used in this Agreement, the following terms shall have the following meanings:

 

(a)
“Effectiveness Deadline” means, with respect to a Registration Statement filed hereunder, the date the Company is
notified by the U.S. Securities and Exchange Commission (“SEC”) that one of the Registration Statements, as defined
below, will not be reviewed or is no longer subject to further review and comments, the Effectiveness Deadline as to such Registration
Statement shall be the fifth business day following the date on which the Company is so notified.

 

    	 

     

    

 

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

 

(c)
“Filing Deadline” means, with respect to a Registration Statement required hereunder, the 30th calendar day following
the date hereof unless otherwise specified herein.

 

(d)
“Person” means a corporation, a limited liability company, an association, a partnership, an organization, a business,
an individual, a governmental or political subdivision thereof or a governmental agency.

 

(e)
“Prospectus” means the prospectus included in a Registration Statement (including, without limitation, a prospectus
that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon
Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of
the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements
to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

(f)
“Registrable Securities” means all of (i) the shares of Common Stock issuable upon conversion of the Convertible Debentures,
(ii) the shares of Common Stock issued and held by the Investor from conversions of the Convertible Debentures (iii) the shares of Common
Stock issuable upon exercise of the Warrants, (iv) the shares of Common Stock issued and held by the Investor from exercise of the Warrants
(v) the additional shares issuable in connection with any anti-dilution provisions of the Convertible Debentures or the Warrants (without
giving effect to any limitations on exercise set forth in the Convertible Debentures or the Warrants, as applicable) and (vi) any shares
of Common Stock issued or issuable with respect to any shares described in subsections (i) and (ii) above by way of any stock split,
stock dividend or other distribution, recapitalization or similar event or otherwise (in each case without giving effect to any limitations
on exercise set forth in the Convertible Debentures or the Warrants, as applicable).

 

(g)
“Registration Statement” means any registration statement of the Company required to be filed hereunder, including
the Prospectus, amendments and supplements to such registration statement or Prospectus, including post-effective amendments, all exhibits
thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement.

 

(h)
“Required Registration Amount” means (i) with respect to the initial Registration Statement at least 278,213,449 shares
of Common Stock issued or to be issued upon conversion of the Convertible Debentures and 12,500,000 shares of Common Stock issued or
to be issued upon exercise of Warrant A and 4,285,714 shares of Common Stock issued or to be issued upon exercise of Warrant B, and (ii)
with respect to subsequent Registration Statements such number of shares of Common Stock as requested by the Investor not to exceed 300%
of the maximum number of shares of Common Stock issuable upon conversion of all Convertible Debentures then outstanding (assuming for
purposes hereof that (x) such Convertible Debentures are convertible at the Conversion Price (as defined therein) in effect as of the
date of determination, and (y) any such conversion shall not take into account any limitations on the conversion of the Convertible Debentures
set forth therein), in each case subject to any cutback set forth in Section 2(d).

 

    	- 2-

     

    

 

(i)
“Rule 144” means Rule 144 under the Securities Act or any successor rule thereto.

 

(j)
“Rule 415” means Rule 415 promulgated by the SEC pursuant to the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the SEC having substantially the same purpose and effect as such
Rule.

 

(k)
“SEC” means the Securities and Exchange Commission or any other federal agency administering the Securities Act and
the Exchange Act at the time.

 

(l)
“Securities Act” shall have the meaning set forth in the Recitals above.

 

2.
REGISTRATION.

 

(a)
The Company’s registration obligations set forth in this Section 2 including its obligations to file Registration Statements, obtain
effectiveness of Registration Statements, and maintain the continuous effectiveness of Registration Statement that have been declared
effective shall begin on the date hereof and continue until all the Registrable Securities have been sold or may permanently be sold
without any restrictions pursuant to Rule 144, as determined by the counsel to the Company pursuant to a written opinion letter to such
effect, addressed and acceptable to the Company’s transfer agent and the Investor (the “Registration Period”).

 

(b)
Subject to the terms and conditions of this Agreement, the Company shall (i) on or prior to the Filing Deadline, prepare and file with
the SEC an initial Registration Statement on Form S-1 or any successor form thereto covering the resale by the Investor of Registrable
Securities, and (ii) within 20 days of written notice by the Investor, which may be provided anytime, and from time to time, after the
resale of substantially all of the Registrable Securities contained on a prior Registration Statement, or anytime when no effective Registration
Statement is available for the resale of Registrable Securities, prepare and file an additional Registration Statement covering the resale
by the Investor of Registrable Securities. Each Registration Statement prepared pursuant hereto shall register for resale at least the
number of shares of Common Stock equal to the Required Registration Amount as of date the Registration Statement is initially filed with
the SEC. Each Registration Statement shall contain the “Selling Stockholders” and “Plan of Distribution”
sections in substantially the form attached hereto as Exhibit A and contain all the required disclosures set forth on Exhibit
B. The Company shall use its best efforts to have each Registration Statement declared effective by the SEC as soon as practicable,
but in no event later than the Effectiveness Deadline. By 9:30 am on the business day following the date of effectiveness, the Company
shall file with the SEC in accordance with Rule 424 under the 1933 Act the final Prospectus to be used in connection with sales pursuant
to such Registration Statement. Prior to the filing of the Registration Statement with the SEC, the Company shall furnish a draft of
the Registration Statement to the Investor for their review and comment. The Investor shall furnish comments on the Registration Statement
to the Company within twenty-four (24) hours of the receipt thereof from the Company.

 

    	- 3-

     

    

 

(c)
During the Registration Period, the Company shall (i) promptly, within 5 business days of being notified by the Investor, prepare and
file with the SEC such amendments (including post-effective amendments) and supplements to a Registration Statement and the Prospectus
used in connection with a Registration Statement, which Prospectus is to be filed pursuant to Rule 424 promulgated under the Securities
Act, as may be necessary to keep such Registration Statement effective at all times during the Registration Period, (ii) prepare and
file with the SEC additional Registration Statements in order to register for resale under the Securities Act all of the Registrable
Securities; (iii) cause the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms
of this Agreement), and as so supplemented or amended to be filed pursuant to Rule 424; (iv) respond as promptly as reasonably possible
to any comments received from the SEC with respect to a Registration Statement or any amendment thereto and as promptly as reasonably
possible provide the Investors true and complete copies of all correspondence from and to the SEC relating to a Registration Statement
(provided that the Company may excise any information contained therein which would constitute material non-public information as to
any Investor which has not executed a confidentiality agreement with the Company); and (v) comply with the provisions of the Securities
Act with respect to the disposition of all Registrable Securities of the Company covered by such Registration Statement until such time
as all of such Registrable Securities shall have been disposed of in accordance with the intended methods of disposition by the seller
or sellers thereof as set forth in such Registration Statement. In the case of amendments and supplements to a Registration Statement
which are required to be filed pursuant to this Agreement (including pursuant to this Section 2(c)) by reason of the Company’s
filing a report on Form 10-K, Form 10-Q, or Form 8-K or any analogous report under the Securities Exchange Act, the Company shall incorporate
such report by reference into the Registration Statement, if applicable, or shall file such amendments or supplements with the SEC within
two (2) business days from the date on which the Exchange Act report is filed which created the requirement for the Company to amend
or supplement the Registration Statement.

 

(d)
Reduction of Registrable Securities Included in a Registration Statement. Notwithstanding anything contained herein, in the event
that the SEC requires the Company to reduce the number of Registrable Securities to be included in a Registration Statement in order
to allow the Company to rely on Rule 415 with respect to a Registration Statement, then the Company shall be obligated to include in
such Registration Statement (which may be a subsequent Registration Statement if the Company needs to withdraw a Registration Statement
and refile a new Registration Statement in order to rely on Rule 415) only such limited portion of the Registrable Securities as the
SEC shall permit. Any Registrable Securities that are excluded in accordance with the foregoing terms are hereinafter referred to as
“Cut Back Securities.” To the extent Cut Back Securities exist, as soon as may be permitted by the SEC, the Company
shall be required to file a Registration Statement covering the resale of the Cut Back Securities (subject also to the terms of this
Section) and shall use best efforts to cause such Registration Statement to be declared effective as promptly as practicable thereafter.

 

    	- 4-

     

    

 

(e)
Failure to File or Obtain Effectiveness of the Registration Statement or Remain Current. If: (i) a Registration Statement is not
filed on or prior to its Filing Date, or (ii) a Registration Statement is not declared effective on or prior to Effectiveness Deadline
or the Company fails to file with the SEC a request for acceleration in accordance with Rule 461 promulgated under the Securities Act,
within five (5) Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the SEC that a
Registration Statement will not be “reviewed,” or not subject to further review, or (iii) after the effectiveness, a Registration
Statement ceases for any reason to remain continuously effective as to all Registrable Securities, except for Cut Back Securities, for
which it is required to be effective, or the Investors are otherwise not permitted to utilize the Prospectus therein to resell such Registrable
Securities for more than 30 consecutive calendar days or more than an aggregate of 40 calendar days during any 12-month period (which
need not be consecutive calendar days), or (iv) if after the six month anniversary of the date hereof, the Company does not have available
adequate current public information as set forth in Rule 144(c) (any such failure or breach being referred to as an “Event”),
then in addition to any other rights the holders of the Convertible Debentures may have hereunder or under applicable law, the Company
shall be in breach of the term and conditions of this Agreement and such Event shall be deemed an event of default under the Convertible
Debentures.

 

(f)
Piggy-Back Registrations. If at any time there is not an effective Registration Statement covering all of the Registrable Securities
and the Company proposes to register the offer and sale of any shares of its Common Stock under the Securities Act (other than a registration
(i) pursuant to a Registration Statement on Form S-8 ((or other registration solely relating to an offering or sale to employees or directors
of the Company pursuant to any employee stock plan or other employee benefit arrangement), (ii) pursuant to a Registration Statement
on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto),
(iii) in connection with any dividend or distribution reinvestment or similar plan), or (iv) in connection with its planned underwritten
offering and uplist to Nasdaq or a similar National Securities Exchange, whether for its own account or for the account of one or more
stockholders of the Company and the form of Registration Statement to be used may be used for any registration of Registrable Securities,
the Company shall give prompt written notice (in any event no later than five days prior to the filing of such Registration Statement)
to the holders of Registrable Securities of its intention to effect such a registration and, shall include in such registration all Registrable
Securities with respect to which the Company has received written requests for inclusion from the holders of Registrable Securities;
provided, however, that, the Company shall not be required to register any Registrable Securities pursuant to this Section
10(c) that have been sold or may permanently be sold without any restrictions pursuant to Rule 144, as determined by the counsel to the
Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected
Holders.

 

3.
RELATED OBLIGATIONS.

 

(a)
The Company shall, not less than three (3) Trading Days prior to the filing of each Registration Statement and not less than one (1)
Trading Day prior to the filing of any related amendments and supplements to all Registration Statements (except for annual reports on
Form 10-K), furnish to each Investor copies of all such documents proposed to be filed, which documents (other than those incorporated
or deemed to be incorporated by reference) will be subject to the reasonable and prompt review of such Investors, The Company shall not
file a Registration Statement or any such Prospectus or any amendments or supplements thereto to which the Investors shall reasonably
object in good faith; provided that, the Company is notified of such objection in writing no later than one (1) Trading Day after
the Investors have been so furnished copies of a Registration Statement.

 

    	- 5-

     

    

 

(b)
The Company shall furnish to each Investor whose Registrable Securities are included in any Registration Statement, without charge, (i)
at least one (1) copy of such Registration Statement as declared effective by the SEC and any amendment(s) thereto, including financial
statements and schedules, all documents incorporated therein by reference, all exhibits and each preliminary prospectus, which may be
delivered in electronic form and (ii) such other documents, which are not publicly available through EDGAR, as such Investor may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities owned by such Investor.

 

(c)
The Company shall use its best efforts to (i) register and qualify the Registrable Securities covered by a Registration Statement under
such other securities or “blue sky” laws of such jurisdictions in the United States as any Investor reasonably requests,
(ii) prepare and file in those jurisdictions, such amendments (including post-effective amendments) and supplements to such registrations
and qualifications as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions
as may be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions; provided,
however, that the Company shall not be required in connection therewith or as a condition thereto to (w) make any change to its articles
of incorporation or by-laws, (x) qualify to do business in any jurisdiction where it would not otherwise be required to qualify but for
this Section 3(c), (y) subject itself to general taxation in any such jurisdiction, or (z) file a general consent to service of process
in any such jurisdiction. The Company shall promptly notify each Investor who holds Registrable Securities of the receipt by the Company
of any notification with respect to the suspension of the registration or qualification of any of the Registrable Securities for sale
under the securities or “blue sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation
or threat of any proceeding for such purpose.

 

(d)
As promptly as practicable after becoming aware of such event or development, the Company shall notify each Investor in writing of the
happening of any event as a result of which the Prospectus included in a Registration Statement, as then in effect, includes an untrue
statement of a material fact or omission to state 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 that in no event shall such notice contain any material,
nonpublic information), and promptly prepare a supplement or amendment to such Registration Statement to correct such untrue statement
or omission, and deliver an electronic copy of such supplement or amendment to each Investor. The Company shall also promptly notify
each Investor in writing (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been filed, and when a Registration
Statement or any post-effective amendment has become effective (notification of such effectiveness shall be delivered to each Investor
by facsimile on the same day of such effectiveness), (ii) of any request by the SEC for amendments or supplements to a Registration Statement
or related prospectus or related information, and (iii) of the Company’s reasonable determination that a post-effective amendment
to a Registration Statement would be appropriate.

 

    	- 6-

     

    

 

(e)
The Company shall use its best efforts to prevent the issuance of any stop order or other suspension of effectiveness of a Registration
Statement, or the suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction within the United
States of America and, if such an order or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest
possible moment and to notify each Investor who holds Registrable Securities being sold of the issuance of such order and the resolution
thereof or its receipt of actual notice of the initiation or threat of any proceeding for such purpose.

 

(f)
If, after the execution of this Agreement, an Investor believes, after consultation with its legal counsel, that it could reasonably
be deemed to be an underwriter of Registrable Securities, at the request of any Investor, the Company shall furnish to such Investor,
on the date of the effectiveness of the Registration Statement and thereafter from time to time on such dates as an Investor may reasonably
request (i) a letter, dated such date, from the Company’s independent certified public accountants in form and substance as is
customarily given by independent certified public accountants to underwriters in an underwritten public offering, and (ii) an opinion,
dated as of such date, of counsel representing the Company for purposes of such Registration Statement, in form, scope and substance
as is customarily given in an underwritten public offering, addressed to the Investors. Upon the request of the documents discussed above
pursuant to this Section 3(f), the Investor shall provide documents to the Company typically provided by an underwriter of its securities
in form, scope and substance as is customarily given in an underwritten public offering, including an opinion of counsel representing
the Investor for purposes of such Registration Statement, addressed to the Company.

 

(g)
If, after the execution of this Agreement, an Investor believes, after consultation with its legal counsel, that it could reasonably
be deemed to be an underwriter of Registrable Securities, at the request of any Investor, the Company shall make available for inspection
by (i) any Investor and (ii) one (1) firm of accountants or other agents retained by the Investors (collectively, the “Inspectors”)
all pertinent financial and other records, and pertinent corporate documents and properties of the Company (collectively, the “Records”),
as shall be reasonably deemed necessary by each Inspector, and cause the Company’s officers, directors and employees to supply
all information which any Inspector may reasonably request; provided, however, that each Inspector shall agree, and each Investor hereby
agrees, to hold in strict confidence and shall not make any disclosure (except to an Investor) or use any Record or other information
which the Company determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (a)
the disclosure of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise
required under the Securities Act, (b) the release of such Records is ordered pursuant to a final, non-appealable subpoena or order from
a court or government body of competent jurisdiction, or (c) the information in such Records has been made generally available to the
public other than by disclosure in violation of this or any other agreement of which the Inspector and the Investor has knowledge. Each
Investor agrees that it shall, upon learning that disclosure of such Records is sought in or by a court or governmental body of competent
jurisdiction or through other means, give prompt notice to the Company and allow the Company, at its expense, to undertake appropriate
action to prevent disclosure of, or to obtain a protective order for, the Records deemed confidential.

 

    	- 7-

     

    

 

(h)
The Company shall hold in confidence and not make any disclosure of information concerning the Investor provided to the Company unless
(i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information
is necessary to avoid or correct a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered
pursuant to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such
information has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement.
The Company agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought in or by a court
or governmental body of competent jurisdiction or through other means, give prompt written notice to such Investor and allow such Investor,
at the Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for, such
information.

 

(i)
The Company shall use its best efforts to cause all the Registrable Securities to be listed on each securities exchange on which the
Common Stock is then listed. The Company shall pay all fees and expenses in connection with satisfying its obligation under this Section
3(i).

 

(j)
The Company shall cooperate with the holders of the Registrable Securities to facilitate the timely preparation and delivery of certificates
representing the Registrable Securities to be sold pursuant to such Registration Statement or Rule 144 free of any restrictive legends
and representing such number of shares of Common Stock and registered in such names as the holders of the Registrable Securities may
reasonably request a reasonable period of time prior to sales of Registrable Securities pursuant to such Registration Statement or Rule;
provided, that the Company may satisfy its obligations hereunder without issuing physical stock certificates through the use of
The Depository Trust Company’s Direct Registration System.

 

(k)
The Company shall use its best efforts to cause the Registrable Securities to be registered with or approved by such other governmental
agencies or authorities as may be necessary to consummate the disposition of such Registrable Securities.

 

(l)
The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection with any
registration hereunder.

 

(m)
Within two (2) business days after a Registration Statement which covers Registrable Securities is declared effective by the SEC, the
Company shall deliver, and shall cause legal counsel for the Company to deliver, to the transfer agent for such Registrable Securities
(with copies to the Investor whose Registrable Securities are included in such Registration Statement) confirmation that such Registration
Statement has been declared effective by the SEC in the form attached hereto as Exhibit C.

 

    	- 8-

     

    

 

(n)
The Company shall take all other reasonable actions necessary to expedite and facilitate disposition by each Investor of Registrable
Securities pursuant to a Registration Statement.

 

4.
OBLIGATIONS OF THE INVESTORS.

 

(a)
The Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section
3(d) such Investor will immediately discontinue disposition of Registrable Securities pursuant to any Registration Statement covering
such Registrable Securities until the Investor’s receipt of the copies of the supplemented or amended prospectus contemplated by
Section 3(d) or receipt of notice that no supplement or amendment is required. Notwithstanding anything to the contrary, the Company
shall cause its transfer agent to deliver unlegended certificates for shares of Common Stock to a transferee of an Investor in accordance
with the terms of the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which an Investor
has entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event
of the kind described in Section 3(d) and for which the Investor has not yet settled.

 

(b) The Investor covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act as applicable
to it or an exemption therefrom in connection with sales of Registrable Securities pursuant to the Registration Statement. 

 

5.
EXPENSES OF REGISTRATION.

 

All
expenses incurred by the Company in complying with its obligations pursuant to this Agreement and in connection with the registration
and disposition of Registrable Securities shall be paid by the Company, including, without limitation, all registration, listing and
qualifications fees, printers, fees and expenses of the Company’s counsel and accountants which fees shall not include legal fees
of Investor’s counsel associated with the review of the Registration Statement.

 

6.
INDEMNIFICATION.

 

With
respect to Registrable Securities which are included in a Registration Statement under this Agreement:

 

(a)
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend the Investor, the directors,
officers, partners, employees, agents, representatives of, and each Person, if any, who controls any Investor within the meaning of the
Securities Act or the Exchange Act (each, an “Indemnified Person”), against any losses, claims, damages, liabilities,
judgments, fines, penalties, charges, costs, reasonable attorneys’ fees, amounts paid in settlement or expenses, joint or several
(collectively, “Claims”) incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding,
investigation or appeal taken from the foregoing by or before any court or governmental, administrative or other regulatory agency, body
or the SEC, whether pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in respect
thereof) arise out of or are based upon: (i) any untrue statement or alleged untrue statement of a material fact in a Registration Statement
or any post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities
or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein
not misleading; (ii) any untrue statement or alleged untrue statement of a material fact contained in any final prospectus (as amended
or supplemented, if the Company files any amendment thereof or supplement thereto with the SEC) or the omission or alleged omission to
state therein any material fact necessary to make the statements made therein, in light of the circumstances under which the statements
therein were made, not misleading; or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act,
any other law, including, without limitation, any state securities law, or any rule or regulation there under relating to the offer or
sale of the Registrable Securities pursuant to a Registration Statement (the matters in the foregoing clauses (i) through (iii) being,
collectively, “Violations”). The Company shall reimburse the Investors and each such controlling person promptly as
such expenses are incurred and are due and payable, for any legal fees or disbursements or other reasonable expenses incurred by them
in connection with investigating or defending any such Claim. Notwithstanding anything to the contrary contained herein, the indemnification
agreement contained in this Section 6(a): (x) shall not apply to a Claim by an Indemnified Person arising out of or based upon a Violation
which occurs in reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Person expressly
for use in connection with the preparation of the Registration Statement or any such amendment thereof or supplement thereto; (y) shall
not be available to the extent such Claim is based on a failure of the Investor to deliver or to cause to be delivered the prospectus
made available by the Company, if such prospectus was timely made available by the Company pursuant to Section 3(c); and (z) shall not
apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which
consent shall not be unreasonably withheld. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of the Indemnified Person.

 

    	- 9-

     

    

 

(b)
In connection with a Registration Statement, the Investor agrees to severally and not jointly indemnify, hold harmless and defend, to
the same extent and in the same manner as is set forth in Section 6(a), the Company, each of its directors, each of its officers, employees,
representatives, or agents and each Person, if any, who controls the Company within the meaning of the Securities Act or the Exchange
Act (each an “Indemnified Party”), against any Claim or Indemnified Damages to which any of them may become subject,
under the Securities Act, the Exchange Act or otherwise, insofar as such Claim or Indemnified Damages arise out of or is based upon any
Violation, in each case to the extent, and only to the extent, that such Violation occurs in reliance upon and in conformity with written
information furnished to the Company by such Investor expressly for use in connection with such Registration Statement; and, subject
to Section 6(d), such Investor will reimburse any legal or other expenses reasonably incurred by them in connection with investigating
or defending any such Claim; provided, however, that the indemnity agreement contained in this Section 6(b) and the agreement with respect
to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if such settlement is effected without
the prior written consent of such Investor, which consent shall not be unreasonably withheld; provided, further, however, that the Investor
shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified Damages as does not exceed the net proceeds to
such Investor as a result of the sale of Registrable Securities pursuant to such Registration Statement. Such indemnity shall remain
in full force and effect regardless of any investigation made by or on behalf of such Indemnified Party. Notwithstanding anything to
the contrary contained herein, the indemnification agreement contained in this Section 6(b) with respect to any prospectus shall not
inure to the benefit of any Indemnified Party if the untrue statement or omission of material fact contained in the prospectus was corrected
and such new prospectus was delivered to each Investor prior to such Investor’s use of the prospectus to which the Claim relates.

 

    	- 10-

     

    

 

(c)
Promptly after receipt by an Indemnified Person or Indemnified Party under this Section 6 of notice of the commencement of any action
or proceeding (including any governmental action or proceeding) involving a Claim, such Indemnified Person or Indemnified Party shall,
if a Claim in respect thereof is to be made against any indemnifying party under this Section 6, deliver to the indemnifying party a
written notice of the commencement thereof, and the indemnifying party shall have the right to participate in, and, to the extent the
indemnifying party so desires, jointly with any other indemnifying party similarly noticed, to assume control of the defense thereof
with counsel mutually satisfactory to the indemnifying party and the Indemnified Person or the Indemnified Party, as the case may be;
provided, however, that an Indemnified Person or Indemnified Party shall have the right to retain its own counsel with the fees and expenses
of not more than one (1) counsel for such Indemnified Person or Indemnified Party to be paid by the indemnifying party, if, in the reasonable
opinion of counsel retained by the indemnifying party, the representation by such counsel of the Indemnified Person or Indemnified Party
and the indemnifying party would be inappropriate due to actual or potential differing interests between such Indemnified Person or Indemnified
Party and any other party represented by such counsel in such proceeding. The Indemnified Party or Indemnified Person shall cooperate
fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party
and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified Person which
relates to such action or claim. The indemnifying party shall keep the Indemnified Party or Indemnified Person fully apprised at all
times as to the status of the defense or any settlement negotiations with respect thereto. No indemnifying party shall be liable for
any settlement of any action, claim or proceeding effected without its prior written consent; provided, however, that the indemnifying
party shall not unreasonably withhold, delay or condition its consent. No indemnifying party shall, without the prior written consent
of the Indemnified Party or Indemnified Person, consent to entry of any judgment or enter into any settlement or other compromise which
does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person
of a release from all liability in respect to such claim or litigation. Following indemnification as provided for hereunder, the indemnifying
party shall be subrogated to all rights of the Indemnified Party or Indemnified Person with respect to all third parties, firms or corporations
relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying party within
a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability to the Indemnified
Person or Indemnified Party under this Section 6, except to the extent that the indemnifying party is prejudiced in its ability to defend
such action.

 

(d)
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

 

(e)
The indemnity agreements contained herein shall be in addition to (i) any cause of action or similar right of the Indemnified Party or
Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying party may be subject to pursuant
to the law.

 

    	- 11-

     

    

 

7.
CONTRIBUTION.

 

To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make the maximum
contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent permitted by law;
provided, however, that: (i) no seller of Registrable Securities guilty of fraudulent misrepresentation (within the meaning of Section
11(f) of the Securities Act) shall be entitled to contribution from any seller of Registrable Securities who was not guilty of fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities shall be limited in amount to the net amount of proceeds
received by such seller from the sale of such Registrable Securities.

 

8.
REPORTS UNDER THE EXCHANGE ACT.

 

With
a view to making available to the Investors the benefits of Rule 144 promulgated under the Securities Act or any similar rule or regulation
of the SEC that may at any time permit the Investors to sell securities of the Company to the public without registration, and as a material
inducement to the Investor’s purchase of the Convertible Debentures, the Company represents, warrants, and covenants to the following:

 

(a)
The Company is subject to the reporting requirements of section 13 or 15(d) of the Exchange Act and has filed all required reports under
section 13 or 15(d) of the Exchange Act during the 12 months prior to the date hereof (or for such shorter period that the issuer was
required to file such reports), other than Form 8-K reports.

 

(b)
During the Registration Period, the Company shall file with the SEC in a timely manner all required reports under section 13 or 15(d)
of the Exchange Act (it being understood that nothing herein shall limit the Company’s obligations under the Securities Purchase
Agreement) and such reports shall conform to the requirement of the Exchange Act and the SEC for filing thereunder.

 

(c)
The Company shall furnish to the Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written
statement by the Company that it has complied with the reporting requirements of Rule 144, (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably
requested to permit the Investors to sell such securities pursuant to Rule 144 without registration.

 

9.
AMENDMENT OF REGISTRATION RIGHTS.

 

Provisions
of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular instance and either retroactively
or prospectively), only with the written consent of the Company and Investors who then hold at least two-thirds (2/3) of the Registrable
Securities. Any amendment or waiver effected in accordance with this Section 9 shall be binding upon each Investor and the Company. No
such amendment shall be effective to the extent that it applies to fewer than all of the holders of the Registrable Securities. No consideration
shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of this Agreement unless
the same consideration also is offered to all of the parties to this Agreement.

 

    	- 12-

     

    

 

10.
MISCELLANEOUS.

 

(a)
A Person is deemed to be a holder of Registrable Securities whenever such Person owns or is deemed to own of record such Registrable
Securities or owns the right to receive the Registrable Securities. If the Company receives conflicting instructions, notices or elections
from two (2) or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions, notice
or election received from the registered owner of such Registrable Securities.

 

(b)
No Piggyback on Registrations. The Company shall not file any other registration statements on Form S-3, Form S-1, or otherwise
until the initial Registration Statement required hereunder is declared effective by the SEC, provided that this Section 10(b) shall
not prohibit the Company from filing amendments to registration statements already filed. The Company shall not include any other securities
on a Registration Statement unless otherwise agreed by the Investor.

 

(c)
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must be in
writing and will be deemed to have been delivered pursuant to the notice provisions of the Securities Purchase Agreement or to such other
address and/or electronic mail address and/or to the attention of such other person as the recipient party has specified by written notice
given to each other party five (5) days prior to the effectiveness of such change. Written confirmation of receipt (A) given by the recipient
of such notice, consent, waiver or other communication, (B) electronically generated by the sender’s email service provider containing
the time, date, and recipient email or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with this section.

 

(d)
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such right
or remedy, shall not operate as a waiver thereof.

 

(e)
The laws of the State of New York shall govern all issues concerning the relative rights of the Company and the Investors as its stockholders.
All other questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the
internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
New York. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the Supreme Court of the State of New York, sitting
in New York County, New York and federal courts for the Southern District of New York sitting New York, New York, 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 brought in an inconvenient forum or that the venue of such suit, action or proceeding
is improper. 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 to such party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable
in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this Agreement
in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction. EACH PARTY HEREBY
IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	- 13-

     

    

 

(f)
This Agreement shall inure to the benefit of and be binding upon the permitted successors and assigns of each of the parties hereto.

 

(g)
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

 

(h)
This Agreement may be executed in identical counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same agreement. This Agreement, once executed by a party, may be delivered to the other party hereto as an attachment to
an email of a copy of this Agreement bearing the signature of the party so delivering this Agreement.

 

(i)
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver all
such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry out the intent
and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(j)
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and no rules
of strict construction will be applied against any party.

 

(k)
This Agreement is intended for the benefit of the parties hereto and their respective permitted successors and assigns, and is not for
the benefit of, nor may any provision hereof be enforced by, any other Person.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	- 14-

     

    

 

IN
WITNESS WHEREOF, the Investor and the Company have caused their signature page to this Registration Rights Agreement to be duly executed
as of the date first above written.

 

	 	COMPANY:
	 	KRAIG
    BIOCRAFT LABORATORIES, INC.
	 	 	 
	 	By:	 
	 	Name:
    	 
	 	Title:	 
	 	 	 
	 	INVESTOR:
	 	YA
    II PN, Ltd.
	 	 	 
	 	By:	Yorkville
    Advisors Global, LP
	 	Its:	Investment
    Manager
	 	 	 
	 	By:
    	Yorkville
    Advisors Global II, LLC
	 	Its:
    	General
    Partner
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	- 15-

     

    

 

EXHIBIT
A

 

SELLING
STOCKHOLDERS

 

AND
PLAN OF DISTRIBUTION

 

    	- 16-

     

    

 

EXHIBIT
B

 

OTHER
DISCLOSURES 

 

[See
attachment provided]

 

    	- 17-

     

    

 

EXHIBIT
C

 

FORM
OF NOTICE OF EFFECTIVENESS

OF
REGISTRATION STATEMENT

 

Attention:

 

Re:
KRAIG BIOCRAFT LABORATORIES, INC., INC.

 

Ladies
and Gentlemen:

 

We
are counsel to KRAIG BIOCRAFT LABORATORIES, INC., INC., a Wyoming corporation (the “Company”), and have represented
the Company in connection with that certain Securities Purchase Agreement (the “Securities Purchase Agreement”) entered
into by and among the Company and the Investors named therein (collectively, the “Investors”) pursuant to which the
Company issued to the Investors up to $3,000,000 of convertible debentures (the “Convertible Debentures”), which are
convertible into its Common Stock, no par value per share (the “Common Stock”). Pursuant to the Purchase Agreement,
the Company also has entered into a Registration Rights Agreement with the Investors (the “Registration Rights Agreement”)
pursuant to which the Company agreed, among other things, to register the Registrable Securities (as defined in the Registration Rights
Agreement) under the Securities Act of 1933, as amended (the “Securities Act”). In connection with the Company’s
obligations under the Registration Rights Agreement, on ____________ ____, the Company filed a Registration Statement on Form ________
(File No. 333-_____________) (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”)
relating to the Registrable Securities which names each of the Investors as a selling stockholder there under.

 

In
connection with the foregoing, we advise you that a member of the SEC’s staff has advised us by telephone that the SEC has entered
an order declaring the Registration Statement effective under the Securities Act at [ENTER TIME OF EFFECTIVENESS] on [ENTER
DATE OF EFFECTIVENESS] and we have no knowledge, after telephonic inquiry of a member of the SEC’s staff, that any stop order
suspending its effectiveness has been issued or that any proceedings for that purpose are pending before, or threatened by, the SEC and
the Registrable Securities are available for resale under the Securities Act pursuant to the Registration Statement.

 

	 	 	Very
    truly yours,
	 	 	 	 
	 	 	[Law
    Firm]
	 	 	 	 
	 	 	By:	 
	 	 	 	 
	cc:	[LIST
    NAMES OF Investors]	 	 

 

    	- 18-

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