Document:

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

 

COMMON
STOCK PURCHASE WARRANT

 

PRESSURE
BIOSCIENCES, INC.

 

	Warrant
    Shares: ______ 	Initial
    Exercise Date: ______ _____
	 	Issue Date: _______
    ______

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, ______ or its assigns (the
“Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter
set forth, at any time on or after ______ (the “Initial Exercise Date”) and on or prior to the close of business
on the five year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe
for and purchase from Pressure BioSciences, Inc., a Delaware corporation (the “Company”), up to ______ shares
(as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share
of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1. Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain
Subscription Agreement (the “Purchase Agreement”), dated of even date herewith among the Company and the purchaser’s
signatory thereto.

 

Section
2. Exercise.

 

a)
Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any
time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such
other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the
Holder appearing on the books of the Company) of a duly executed facsimile copy of the Notice of Exercise form annexed hereto
and within three (3) Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received
payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United
States bank or, if available, pursuant to the cashless exercise procedure specified in Section 2(c) below. No ink-original Notice
of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of
Exercise form be required. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender
this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been
exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Trading
Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases
of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number
of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and
the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company
shall deliver any objection to any Notice of Exercise Form within two (2) Business Days of receipt of such notice. The Holder
and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following
the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any
given time may be less than the amount stated on the face hereof.

 

b)
Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be $0.40, subject to adjustment
hereunder (the “Exercise Price”).

 

    	 

    	 

    

 

c)
Cashless Exercise. This Warrant may be exercised, in whole or in part, by means of a “cashless exercise” in
accordance with this Section 2(c), if at any time after the earlier of: (i) the 180 day anniversary of the date of the Purchase
Agreement; and (ii) the completion of the then-applicable holding period required by Rule 144, or any successor provision then
in effect, there is no effective Registration Statement registering, or no current prospectus available for, the resale of the
Warrant Shares by the Holder, then this Warrant may be exercised, in whole or in part, at such time by means of a “cashless
exercise.” Pursuant to a cashless exercise, the Holder shall be entitled to receive a number of Warrant Shares equal to
the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

	 	 	(A)
                                         =	the VWAP on the Trading
                                         Day immediately preceding the date on which Holder elects to exercise this Warrant by
                                         means of a “cashless exercise,” as set forth in the applicable Notice of
                                         Exercise;
	 	 	 	 
		 	(B)
                                         =	the
                                         Exercise Price of this Warrant, as adjusted hereunder; and

 

	 	 	(X)
    =	the
    number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant
    if such exercise were by means of a cash exercise rather than a cashless exercise.

 

d)
Mechanics of Exercise.

 

i.
Delivery of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be transmitted by the Transfer Agent
to the Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit
or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either (A) there
is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the
Holder or (B) the shares are eligible for resale by the Holder without the holding period, volume or manner-of-sale limitations
pursuant to Rule 144, and otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise by the
date that is three (3) Trading Days after the latest of (A) the delivery to the Company of the Notice of Exercise and (B) surrender
of this Warrant (if required) (such date, the “Warrant Share Delivery Date”). The Warrant Shares shall be deemed
to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder
of record of such shares for all purposes, as of the date the Warrant has been exercised, with payment to the Company of the Exercise
Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(d)(vi)
prior to the issuance of such shares, having been paid.

 

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

 

iii.
Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant
to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

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

 

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

 

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

 

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

 

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

 

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f)
Company Warrant Call. Commencing on a date which is 180 days after the Final Closing, the Company shall have the right,
subject to satisfaction of the conditions in this Section 2(f), to cause the exercise of this Warrant (“Forced Exercise”).
The Company shall deliver prior written notice to the Holder at least ten (10) business days (“Forced Exercise Notice”)
prior to the effective date (the “Forced Exercise Effective Date”) of such Forced Exercise. In order to
effectuate a Forced Conversion, the following conditions shall be satisfied as of the Forced Exercise Effective Date: (i) no Event
of Default shall have occurred or exist under the Debentures; (ii) the Company shall have satisfied and be current all of its
filing requirements under the Securities and Exchange Act of 1934; (iii) the VWAP shall be equal or exceed 300% of the Conversion
Price of the Debentures for at least 15 of the prior 20 Trading Days prior to the date of the Forced Exercise Note; (iv) the Warrant
Shares may be delivered to the Holder via DWAC; and (v) all of the Warrants issued pursuant to the Purchase Agreement are called
by the Company for a Forced Exercise. The Holder shall have the right to exercise this Warrant during such ten (10) days notice
period on a caller’s basis pursuant to Section 2(c) above at its option.

 

Section
3. Certain Adjustments.

 

a)
Stock Dividends and Stock Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock
dividend or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of Common Stock or any
Common Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
conversion of, or payment of interest on, the Debentures or upon the exercise of any options or warrants, including the Warrants);
(ii) subdivides outstanding shares of Common Stock into a larger number of shares; (iii) combines (including by way of a reverse
stock split) outstanding shares of Common Stock into a smaller number of shares; or (iv) issues, in the event of a reclassification
of shares of the Common Stock, any shares of capital stock of the Company, then the Exercise Price shall be multiplied by a fraction
of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares of the Company) outstanding
immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately
after such event, and the number of shares issuable upon exercise of this Warrant shall be proportionately adjusted such that
the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become
effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution
and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

 

b)
Subsequent Equity Sales. If, at any time while this Warrant is outstanding, the Company or any Subsidiary, as applicable,
sells or grants any option to purchase, or grants any right to reprice, or otherwise dispose of or issues, any Common Stock or
Common Stock Equivalents entitling any Person to acquire shares of Common Stock at an effective price per share that is lower
than the then Exercise Price, other than in connection with any Exempt Issuance ( as defined below) (such lower price, the “Base
Share Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common
Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions,
floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued
in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share that is lower
than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive
Issuance, then the Exercise Price shall be reduced to equal the Base Share Price. Such adjustment shall be made whenever such
Common Stock or Common Stock Equivalents are issued. Notwithstanding the foregoing, no adjustment will be made under this Section
3(b) in respect of an Exempt Issuance. If the Company enters into a Variable Rate Transaction, despite the prohibition thereon
in the Purchase Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible
conversion or exercise price at which such securities may be converted or exercised. The Company shall notify the Holder in writing,
no later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to this Section 3(b),
indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing
terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification, whether or not the Company
provides a Dilutive Issuance Notice pursuant to this Section 3(b), upon the occurrence of any Dilutive Issuance, the Holder is
entitled to receive a number of Warrant Shares based upon the Base Share Price on or after the date of such Dilutive Issuance,
regardless of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. Notwithstanding this Section
3(b), nothing contained herein shall cause the number of warrant shares to increase. Any adjustment herein shall solely be with
respect to the Exercise Price.

 

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c)
Subsequent Rights Offerings. If the Company, at any time while the Warrant is outstanding, shall issue rights, options
or warrants to all holders of Common Stock (and not to the Holder) entitling them to subscribe for or purchase shares of Common
Stock at a price per share less than the VWAP on the record date mentioned below, then the Exercise Price shall be multiplied
by a fraction, of which the denominator shall be the number of shares of the Common Stock outstanding on the date of issuance
of such rights, options or warrants plus the number of additional shares of Common Stock offered for subscription or purchase,
and of which the numerator shall be the number of shares of the Common Stock outstanding on the date of issuance of such
rights, options or warrants plus the number of shares which the aggregate offering price of the total number of shares so
offered (assuming receipt by the Company in full of all consideration payable upon exercise of such rights, options or warrants)
would purchase at such VWAP. Such adjustment shall be made whenever such rights, options or warrants are issued, and shall become
effective immediately after the record date for the determination of stockholders entitled to receive such rights, options or
warrants.

 

d)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders
of Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights
or warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to Section 3(b)), then
in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record
date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the denominator shall
be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP on such record date
less the then per share fair market value at such record date of the portion of such assets or evidence of indebtedness or rights
or warrants so distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors in
good faith. In either case the adjustments shall be described in a statement provided to the Holder of the portion of assets
or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment
shall be made whenever any such distribution is made and shall become effective immediately after the record date mentioned above.

 

e)
Fundamental Transaction. If, at any time while this Warrant is outstanding: (i) the Company, directly or indirectly, in
one or more related transactions effects any merger or consolidation of the Company with or into another Person; (ii) the
Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all
or substantially all of its assets in one or a series of related transactions; (iii) any, direct or indirect, purchase offer,
tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock
are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders
of more than 50% of the outstanding Common Stock; (iv) the Company, directly or indirectly, in one or more related transactions
effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant
to which the Common Stock is effectively converted into or exchanged for other securities, cash or property; or (v) the Company,
directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business
combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another
Person or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock
(not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated
with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction
(without regard to any limitation in Section 2(e) or Section 2(f) on the exercise of this Warrant), the number of shares of Common
Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard
to any limitation in Section 2(e) or Section 2(f) on the exercise of this Warrant). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one (1) share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor entity in a Fundamental
Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the
obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section
3(e) pursuant to written agreements in form and substance reasonably satisfactory to the holders of a majority of the Warrants
prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this Warrant
a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant
which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent
to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the
exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder
to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental
Transaction and the value of such shares of capital stock, such number of shares of capital stock and such exercise price being
for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction),
and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction,
the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction,
the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead
to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the
Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named
as the Company herein.

 

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

 

g)
Notice to Holder.

 

	 	i	Adjustment to Exercise Price. Whenever the Exercise Price
    is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to each Holder a notice setting
    forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth
    a brief statement of the facts requiring such adjustment.
	 	 	 
	 	ii	Notice to Allow Exercise by Holder.
    If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the
    Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize
    the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of capital stock
    of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any
    reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of
    all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
    into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
    or winding up of the affairs of the Company, then, in each case, the Company shall cause to be filed at each office or agency
    maintained for the purpose of exercise of this Warrant, and shall cause to be delivered to the Holder at its last address
    as it shall appear upon the Warrant Register of the Company, at least ten (10) calendar days prior to the applicable record
    or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of
    such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders
    of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
    or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become
    effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to
    exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
    merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the
    delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent
    that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any
    of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on
    Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice
    to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

(h)
For purposes of this Warrant, the term “Exempt Issuance” shall mean the issuance of (a) shares of Common Stock or
options or other stock based awards to employees, officers or directors and consultants of the Company pursuant to the Company’s
stock or option plans existing as of the date hereof and to also include up to 2,500,000 shares of Common Stock (subject to adjustment
for forward and reverse stock splits, recapitalizations and the like), in the aggregate, to employees, officers or directors and
consultants of the Company pursuant to a written agreement, provided that such shares of Common Stock are not registered and carry
no registration rights other than on Form S-8, (c) securities upon the exercise or exchange of or conversion of any Securities
issued hereunder and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and
outstanding on the Original Issue Date of this Debenture, provided that such securities have not been amended since the date of
this Agreement to increase the number of such securities or to decrease the exercise price, exchange price or conversion price
of such securities, and (d) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the
disinterested directors of the Company, provided that any such issuance shall only be to a Person (or to the equity holders of
a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic
with the business of the Company and shall provide to the Company additional benefits in addition to the investment of funds,
but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or
to an entity whose primary business is investing in securities.

 

    	6

    	 

    

 

Section
4. Transfer of Warrant.

 

a)
Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder (including, without
limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office
of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached
hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making
of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants
in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this
Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender
this Warrant to the Company within three (3) Trading Days of the date the Holder delivers an assignment form to the Company assigning
this Warrant full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase
of Warrant Shares without having a new Warrant issued.

 

b)
New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office
of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued,
signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be
involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the
Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall
be dated the original Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

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

 

d)
Transfer Restrictions;Registration Rights. At the time of the surrender of this Warrant in connection with any transfer
of this Warrant, the transfer of this Warrant shall be either: (i) registered pursuant to an effective registration statement
under the Securities Act and under applicable state securities or blue sky laws or exempt therefrom; or (ii) eligible for resale
without holding period, volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144..
The Holder and any permitted transfer shall be entitled to the registration rights with respect to the resale of the Warrant Shares
as described under the Purchase Agreement.

 

e)
Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant
and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a
view to or for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable
state securities law, except pursuant to sales registered or exempted under the Securities Act.

 

Section
5. Miscellaneous.

 

a)
No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other
rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth
in Section 3.

 

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

 

    	7

    	 

    

  

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

 

d)
Authorized Shares.

 

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

 

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

 

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

 

e)
Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be determined in accordance with the provisions of the Purchase Agreement.

 

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

 

g)
Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder
shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies, notwithstanding
the fact that all rights hereunder terminate on the Termination Date. If the Company willfully and knowingly fails to comply with
any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts
as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including
those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing
any of its rights, powers or remedies hereunder.

 

    	8

    	 

    

 

h)
Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company
shall be delivered in accordance with the notice provisions of the Purchase Agreement.

 

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

 

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

 

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

 

l)
Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company
and the Holder.

 

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

 

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

 

o)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall
be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the
principles of conflict of laws thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement
and defense of the transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its
respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts
sitting in the City of New York, Borough of Manhattan (the “New York Courts”). The Holder and the Company each
hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of such New York Courts, or such New York Courts are improper
or inconvenient venue for such proceeding. The Holder and the Company each hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified
mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. The Holder and
the Company each hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury
in any legal proceeding arising out of or relating to this Warrant or the transactions contemplated hereby. If any party shall
commence an action or proceeding to enforce any provisions of this Warrant, then the prevailing party in such action or proceeding
shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred in the investigation,
preparation and prosecution of such action or proceeding.

 

********************

 

(Signature
Page Follows)

 

    	9

    	 

    

 

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

 

	 	PRESSURE
    BIOSCIENCES, INC.
	 	 
	 	By:	
	 	Name:	
	 	Title:	 

 

    	10

    	 

    

 

NOTICE
OF EXERCISE

 

TO: PRESSURE
BIOSCIENCES, INC.

 

(1)
The undersigned hereby elects to purchase Warrant Shares of the Company pursuant to the 

terms of the attached Warrant (only if exercised in full), and tenders
herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

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

  

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

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

 

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

 

	 	 	 
	 	 	 
	 	 	 

 

(4)
Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under
the Securities Act of 1933, as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name of Investing Entity: 		 
	 	 	 
	Signature of Authorized Signatory of Investing Entity: 		 
	 	 	 
	Name of Authorized Signatory: 		 
	 	 	 
	Title of Authorized Signatory: 		 
	 	 	 
	Date:                                     			 

 

ASSIGNMENT
FORM

 

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

 

	Name:	
		(Please
    Print)
	Address:	
		(Please
    Print)

 

	Dated:
    _________	 
	 	 
	Holder’s
    Signature: ________	 
	 	 
	Holder’s
    Address: _________	 

 

    	11SUBSCRIPTION AGREEMENT
AND INVESTOR QUESTIONNAIRE

 

 

Minimum Offering of $1,500,000

Maximum Offering of $5,000,000

Senior Secured Convertible
Debentures and Common Stock Warrants

 

THE SECURITES OFFERED
HEREBY ARE HIGHLY SPECULATIVE AND INVOLVE A HIGH DEGREE OF RISK AND IMMEDIATE DILUTION AND MAY BE PURCHASED ONLY BY PERSONS WHO
QUALIFY AS “ACCREDITED INVESTORS” UNDER RULE 501 (a) OF REGULATION D UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

 

THIS DOCUMENT HAS NOT
BEEN FILED WITH OR REVIEWED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY OTHER COMMISSION OR REGULATORY AUTHORITY,
AND HAS NOT BEEN FILED WITH OR REVIEWED BY THE ATTORNEY GENERAL OF ANY STATES NOR HAS ANY SUCH COMMISSION, AUTHORITY OR ATTORNEY
GENERAL DETERMINED WHETHER IT IS ACCURATE OR COMPLETE OR PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING. ANY REPRESENTATION
TO THE CONTRARY IS A CRIMINAL OFFENSE.

 

THIS CONFIDENTIAL PRIVATE
OFFERING SUBSCRIPTION AGREEMENT AND EXHIBITS CONTAINS CONFIDENTIAL INFORMATION CONCERNING PRESSURE BIOSCIENCES, INC. AND HAS BEEN
PREPARED SOLELY FOR USE IN CONNECTION WITH THE OFFERING DESCRIBED HEREIN. ANY USE OF THIS INFORMATION FOR ANY PURPOSE OTHER THAN
IN CONNECTION WITH THE CONSIDERATION OF AN INVESTMENT IN THE SECURITIES OF PRESSURE BIOSCIENCES, INC. THROUGH THE OFFERING DESCRIBED
HEREIN MAY SUBJECT THE USER TO CIVIL AND/OR CRIMINAL LIABILITY.

 

 

 

[Placement Agent]

 

    	 

    	 

    
 

subscription agreement
and investor questionnaire

 

THIS SUBSCRIPTION AGREEMENT
AND INVESTOR QUESTIONNAIRE IS TO BE COMPLETED BY EACH PERSON WHO DESIRES TO PURCHASE SECURITIES OF PRESSURE BIOSCIENCES, INC.
(THE “COMPANY”) IN CONNECTION WITH THE PROPOSED PRIVATE PLACEMENT (THE “OFFERING”) OF UP
TO $5,000,000 GROSS SUBSCRIPTION PROCEEDS OF SENIOR SECURED CONVERTIBLE DEBENTURES AND WARRANTS TO PURCHASE SHARES OF COMMON STOCK
(THE “SECURITIES”) AS DESCRIBED IN THE CONFIDENTIAL PRIVATE PLACEMENT MEMORANDUM DATED AS OF MAY 11, 2015 (THE
“MEMORANDUM”). THE COMPANY AND THE PLACEMENT AGENT MAY ISSUE ADDITIONAL DEBENTURES AND WARRANTS FOR AN ADDITIONAL
$1,250,000 OF GROSS PROCEEDS.

 

THIS MATERIAL DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. THE OFFERING WILL BE MADE SOLELY PURSUANT TO
THE TERMS AND CONDITIONS OF THE MEMORANDUM WHICH CONTAINS MATERIAL INFORMATION REQUIRED TO BE REVIEWED IN CONNECTION WITH ANY
INVESTMENT DECISION. ALL TERMS NOT DEFINED HEREIN SHALL HAVE THE MEANING ASCRIBED TO THEM IN THE MEMORANDUM.

 

INSTRUCTIONS:

 

Items to be delivered by all Subscribers:

 

	 	a.	One (1) completed and executed Subscription
    Agreement and Investor Questionnaire.

 

	 	b.	Payment in the amount of subscription,
    by wire transfer of funds or check. All checks should be made payable to “SIGNATURE BANK AS ESCROW AGENT FOR PRESSURE
    BIOSCIENCES, INC.”

 

For Information and Wire Transfer Instructions:

 

Placement Agent:

[PLACEMENT AGENT]

 

THE SUBSCRIBER IS RESPONSIBLE FOR ALL WIRE
TRANSFER FEES.

 

    	2

    	 

     

The Offering is comprised
of Senior Secured Convertible Debentures (the “Debentures”) and Common Stock Purchase Warrants, (“Warrants”
and together with the Debentures, collectively the “Securities” or the “Units”) of the Company,
as well as the terms of the Offering, which are described in the Private Placement Memorandum, dated as of May 11, 2015 (“Memorandum”)
are being offered without registration under the Securities Act of 1933, as amended (the “Act”), or the securities
laws of any state or any other jurisdiction, in reliance on the exemption contained in Section 4(2) of the Act and Regulation
D promulgated thereunder and on similar exemptions under applicable state laws. Under Regulation D of the Act and/or certain state
laws, the Company is required to determine that an individual, or an individual together with a “Subscriber representative”
or each individual equity owner of an “investing entity” meets certain suitability requirements before selling Securities
to such individual or entity. You understand that the Company and the Placement Agent will rely upon the following information
to determine whether you meet such suitability requirements. Terms not defined herein shall have the meaning ascribed to such
terms in the Memorandum.

 

THE COMPANY WILL NOT SELL
SECURITIES TO ANY SUBSCRIBER WHO HAS NOT FILLED OUT, AS THOROUGHLY AS POSSIBLE, EXECUTED AND DELIVERED THIS SUBSCRIPTION AGREEMENT
AND INVESTOR QUESTIONNAIRE (THE “SUBSCRIPTION AGREEMENT”). IN THE CASE OF A SUBSCRIBER THAT IS A PARTNERSHIP,
TRUST, CORPORATION OR OTHER ENTITY, AN AUTHORIZED OFFICER, OR GENERAL PARTNER OR EACH EQUITY OWNER OR BENEFICIARY, AS APPLICABLE,
MUST COMPLETE THIS SUBSCRIPTION AGREEMENT. This Subscription Agreement is merely a request for information and does not constitute
an offer to sell or a solicitation of an offer to buy the Units. No sale will occur prior to the acceptance of any subscription
by the Company and the Placement Agent. The Company and the Placement Agent, reserve the right to reject any subscription for
any reason or to accept subscriptions for less than the minimum subscription of $25,000.

 

The principal amount of
Debenture to be issued shall reflect original issue discount of 10% of the subscription amount. By way of example, for each $100,000
of Debentures purchased, the Investor shall receive a Debenture in the principal amount of $110,000 (reflecting original issue
discount of 10% of the principal amount) and Warrants to purchase an aggregate of 178,571 shares of Common Stock of the Company
(based upon a conversion price of $0.28 of the Debentures and the actual cash subscription paid). The Offering is being conducted
on an “all or none best efforts” basis as to a minimum amount of gross proceeds of $1,500,000 (“Minimum Offering”)
and on a best efforts basis at to a maximum amount of $5,000,000 (“Maximum Offering”) of gross proceeds. The
Company and the Placement Agent may increase to maximum amount of gross proceeds by an additional $1,250,000 for an aggregate
maximum offering of $6,250,000 of gross proceeds. All subscription proceeds shall be placed and held in a non interest bearing
escrow account pending acceptance and closings of the Offering. The Offering commences on the date hereof and the Minimum Offering
must be satisfied on or before Friday, August 7, 2015 unless extended for up to 2 additional 30 days periods by the Company and
the Placement Agent.

 

The Company and the Placement
Agent will promptly return any money without interest thereon or deduction therefrom to a Subscriber whose subscription is rejected
in whole or in part as the case may be. Subscribers should also understand that they may be required to furnish additional information
to the Company.

 

    	3

    	 

    

 

The Securities are being
offered by the Company through the Placement Agent. The purpose of this Subscription Agreement is to determine whether you meet
certain standards, because the Securities will not be registered under the Act and will be sold only to persons who are “Accredited
Investors,” as that term is defined in Rule 501(a) of Regulation D, promulgated under the Act.

 

Your answers to the Subscription
Agreement questions will be kept confidential. At all times, however, you hereby agree that the Company may present this Subscription
Agreement to such parties as it deems appropriate in order to assure itself that the offer and the sale of the Units to you will
not result in violations of federal or state securities laws which are being relied upon by the Company in connection with the
offer and sale thereof and as otherwise required by law or any regulatory authority.

 

Please type or clearly
print your answers, and state “none” or “not applicable” when appropriate. Please complete Section A and
each other section you are requested to complete in Question A3. If there is insufficient space for any of your answers, please
attach additional pages. If the Units are to be owned by more than one individual or by a corporation or partnership, you may
need extra copies of this Subscription Agreement. You may use photocopies or request extra copies from the Company or the Placement
Agent.

 

INSTRUCTIONS FOR WIRE AND PAYMENT:

 

Payment in the amount of subscription,
by wire transfer of funds or check. All checks should be made payable to “Pressure BioSciences, Inc., Signature Bank As
Escrow Agent”

 

Wire Transfer Instructions:

 

Bank:

Acct Name: Signature Bank as Escrow Agent for
Pressure BioSciences, Inc.

Acct #: 1502330248

Signature Bank

ABA/Routing #: 026013576

SWIFT Code:

261 Madison Avenue

New York, NY 10006

Attn: Angelo Galati

 

FBO: Investor Name:

Social Security Number:

Address:

  

THE INVESTOR IS RESPONSIBLE FOR ALL WIRE TRANSFER
FEES.

 

    	4

    	 

     

SECTION A: SUBSCRIBER INFORMATION

 

	Al.	Name(s) of SUBSCRIBER(s):	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	A2.	Principal Amount of Units Subscribed for: 

    (Minimum Subscription is $___ )	 	$____________
	 	 	 	 
	A3.	Manner of Ownership of Securities:	 	 

 

	         	 	One Individual	 	Please complete Sections A, B and C.
	 	 	 	 	 
	        	 	Husband
    and Wife Tenants by the Entirety	 	Please have
    one spouse complete Sections A and B. Please have both spouses complete Section C.
	 	 	 	 	 
	        	 	Tenants in Common	 	Please have
    each individual separately complete Sections A, B and C.
	 	 	 	 	 
	        	 	Joint Tenants
    with Right of Survivorship - Two or more Individuals (but not husband and wife)	 	Please have
    each individual separately complete Section A, B and C.
	 	 	 	 	 
	        	 	Corporate
    Ownership	 	Please complete
    Section A, B, D and, if applicable, E and F for the corporation. If the corporation does not qualify as an “accredited
    investor” on its own, please have each person who owns an equity interest in the corporation separately complete Sections
    B and, if applicable, C, D, E and F.
	 	 	 	 	 
	        	 	Partnership
    Ownership	 	Please complete
    Sections A, B and D, and have each general partner and limited partner separately complete Sections B, C, D, E and F, if applicable.
	 	 	 	 	 
	        	 	Trust
    Ownership	 	Please complete
    Sections A, B and F, if applicable, and have each beneficiary and trustee of the trust separately complete Sections B, C,
    D, E and F, if applicable.
	 	 	 	 	 
	        	 	Individual
    Retirement Account (IRA)	 	Please complete
    Sections A, B, C and Signature Page.

 

    	5

    	 

     

FINRA Affiliation. Please
state whether you or any of your associates or affiliates (which includes your spouse, in-laws, children and parents): (i) are
a member or a person associated (including as an employee, officer, director or partner) with a member of the Financial Industry
Regulatory Authority ( “FINRA”), (ii) are an owner of stock or other securities of an FINRA member, (iii) have
made a subordinated loan to any FINRA member, or (iv) are a relative or member of the same household of any person meeting the
description set forth in clauses (i) through (iii) above.

 

	 	 	 
	Yes	 	No

 

If you marked yes above, please briefly describe
the FINRA relationship below: 

 

	 
	 
	 

 

SECTION B: ACCREDITED INVESTOR STATUS

 

	B1.	Please check one or more of the following definitions
    of “Accredited Investor,” if any, which applies to you. If none of the following applies to you, please
    leave blank.

 

	        	 	(a)	A “Bank” as
    defined in Section 3(a)(2) of the Act, or any savings and loan association or other institution as defined in Section 3(a)(5)(A)
    of the Act whether acting in its individual or fiduciary capacity;
	 	 	 	 
	       	 	(b)	Any broker or dealer registered pursuant
    to Section 15 of the Securities Exchange Act of 1934 (the “Exchange Act”);
	 	 	 	 
	       	 	(c)	An insurance company as defined in
    Section 2(13) of the Act;
	 	 	 	 
	       	 	(d)	An investment
    company registered under the Investment Company Act of 1940 (the “1940 Act”) or a business development
    company as defined in Section 2(a)(48) of the 1940 Act;
	 	 	 	 
	       	 	(e)	A “Small Business Investment
    Company” licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment
    Act of 1958;
	 	 	 	 
	       	 	(f)	A plan established and maintained by
    a state, or its political subdivisions, or any agency or instrumentality of a state or its political subdivisions for the
    benefit of its employees, if such plan has total assets in excess of $5,000,000;
	 	 	 	 
	       	 	(g)	Any employee benefit plan within the
    meaning of the Employee Retirement Income Security Act of 1974, as amended, if the investment decision is made by a plan fiduciary,
    as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company, or registered
    investment advisor, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan,
    with investment decisions made solely by persons that are Accredited Investors.
	 	 	 	 
	       	 	(h)	A “Private
    Business Development Company” as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
	 	 	 	 
	       	 	(i)	An organization described in Section
    501(c)(3) of the Internal Revenue Code, corporation or similar business trust, or partnership, not formed for the specific
    purpose of acquiring the Securities, with total assets in excess of $5,000,000.
	 	 	 	 
	       	 	(j)	A natural person whose individual net
    worth,* or joint net worth with that person’s spouse, at the time of purchase exceeds $1,000,000.
	 	 	 	 
	       	 	(k)	A natural person who had an individual
    income** in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess
    of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year.
	 	 	 	 
	       	 	(l)	A trust, with total assets in excess
    of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase is directed by a sophisticated
    person as described in Rule 506(b)(2)(ii) of Regulation D promulgated under the Act.
	 	 	 	 
	       	 	(m)	Any entity in which all of the equity
    owners are Accredited Investors.***

  

 

 

	*	For purposes hereof net
    worth shall be deemed to include ALL of your assets, liquid or illiquid and excluding the value of the primary residence.
    (including such items as furnishings, automobile and restricted securities) MINUS any liabilities (including such items as
    primary home mortgages which exceed the fair market value of the primary residence and other debts and liabilities).
	 	 
	**	For purposes hereof the term “income” is not limited to “adjusted gross
    income” as that term is defined for federal income tax purposes, but rather includes certain items of income which are
    deducted in computing “adjusted gross income.” For Subscribers who are salaried employees, the gross salary of
    such Subscribers, minus any significant expenses personally incurred by such Subscriber in connection with earning the salary,
    plus any income from any other source including unearned income, is a fair measure of “income” for purposes hereof.
    For Subscribers who are self-employed, “income” is generally construed to mean total revenues received during
    the calendar year minus significant expenses incurred in connection with earning such revenues.
	 	 
	***	If the Subscriber intends to qualify
    under (m), then all owners of the entity must complete a Subscription Agreement as an individual.

  

    	6

    	 

    

 

SECTION C: INDIVIDUAL INFORMATION

 

	C1.	General
    Information

 

	 	Name:                                                                                                                                                                               
	 	 
	 	Age:        
                                   
     	 	Social Security Number:                                       
	 	 	 	 
	 	Marital status:          
                                   
     	 	Spouse’s name:          
                                   
     
	 	 	 	 
	 	Date of Birth:        
                                   
     	 	 

  

	 	If the Securities are to be owned by two or more individuals (not husband
    and wife), are you related to any other co-owner(s)?

 

	 	 	 
	Yes	 	No

  

	 	If Yes, please explain the relationship(s):
	 	 
	 	 
	 	 
	 	 

  

	C2.	Principal
    Residence

 

	 	Address:	                                                                                                                                               
	 	 	Number                                                  Street
	 	 	 
	 	 	                                                                                                                                               
	 	 	City                                              State
                                          Zip
    Code
	 	 	 
	 	 	                                                                                                                                               
	 	 	Country
	 	 	 
	 	Mailing address (if other than principal residence address above):
	 	 	 
	 	 	                                                                                                                                               
	 	 	Number                                                  Street
	 	 	 
	 	 	                                                                                                                                               
	 	 	City                                              State
                                          Zip
    Code
	 	 	 
		 	                                                                                                                                               
	 	 	Country

 

    	7

    	 

    

 

	 	Telephone number:	                                                                                                                                               
	 	 	 
	 	Facsimile number:	                                                                                                                                               
	 	 	 
	 	Email address:	                                                                                                                                               
	 	 	 
	C3.	Current employment or business activity:
	 	 	 
	 	Company name:	                                                                                                                                               
	 	 	 
	 	Address:	                                                                                                                                               
	 	 	Number                                 Street
	 	 	 
	 	 	                                                                                                                                               
	 	 	City                                              State
                                          Zip
    Code
	 	 	 
	 	Principal business:	                                                                                                                                               
	 	 	 
	 	Position and title:	                                                                                                                                               
	 	 	 
	 	Years employed at current position:	                                                                                                                                               
	 	 	 
	C4.	Net worth excluding your primary residence:
	 	 	 
	 	(   ) $500,000 to $999,999	(   ) $1,250,000 - $2,999,999
	 	(   ) $1,000,000 to $1,249,999	(   ) Over $3,000,000
	 	 	 
	(Indebtedness on primary residence in excess of the fair market value of the
    residence shall be deemed a liability)
	 	 	 
	C5.	Liquid Net worth:	 
	 	 	 
	 	(   ) $100,000 to $249,999	(   ) $250,000 to $499,999
	 	(   ) $500,000 to $999,999	(   ) $1,250,000 - $2,999,999
	 	(   ) $1,000,000 to $1,249,999	(   ) Over $3,000,000
	 	 	 
	C6.	Indicate your annual income from all sources
    for the calendar years 2013, 2014, and expected for 2015 (check one box for each year):

 

	 	 	$100,000 

    to 

    $199,999	 	$200,000 

    to 

    $299,999	 	$300,000 

    to 

    $399,999	 	$400,000 

    to 

    $499,999	 	$500,000

    to 

    $749,999	 	$750,000 

    to 

    $999,999	 	Over

                                         $1M

	2013	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

    	8

    	 

    

 

	C7.	Indicate your JOINT
    annual income (if applicable) from all sources for the calendar years 2013 and 2014, and expected for 2015 (check one box
    for each year):

 

	 	 	$100,000

    to

    $199,999	 	$200,000

    to

    $299,999	 	$300,000

    to

    $399,999	 	$400,000

    to

    $499,999	 	$500,000

    to

    $749,999	 	$750,000

    to

    $999,999	 	Over

                                         $1M

	2013	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 

 

	C8.	Please describe your business or professional
    education or training:

 

	Dates	 	Degree	 	School / Major
		 	 	 	 
		 	 	 	 
		 	 	 	 
		 	 	 	 
		 	 	 	 

 

	C9.	Investment experience:
	 	 	 
	 	 	The frequency with which you invest in marketable securities is:
	 	 	 
	 	 	(   ) often    (   ) occasionally   (   )
    never
	 	 	 
	 	 	The frequency with which you invest in unmarketable securities (such as private
    placement offerings) is:
	 	 	 
	 	 	(   ) often    (   ) occasionally   (   )
    never
	 	 	 
	 	 	Have you previously participated in private placement offerings in the last
    5 years?
	 	 	 	 
	 	 	                                   	                                  
	 	 	Yes	No

 

    	9

    	 

    

 

	 	 	If you answered “yes” to the above state the private placement(s)
    in which you participated in the last 5 years:
	 	 	 	 
	 	 	Amount

    Invested	Name of 

    Entity/Issuer
	 	 	 	 
	 	 	                                                         	                                                        
	 	 	 	 
	 	 	                                                        	                                                        
	 	 	 	 
	 	 	                                                        	                                                        
	 	 	 	 
	 	 	                                                        	                                                        

 

You may use additional sheets if necessary

 

	C10.	(a)	Have you been afforded an opportunity to investigate
    the Company and review relevant factors and documents pertaining to the officers, managers and the Company and its business
    and to ask questions of a qualified representative of the Company regarding this investment and the assets, operations, and
    methods of doing business of the Company?

 

	 	 	 
	Yes	 	No

 

	 

                                                                      
	(b)	Do you understand the nature of an investment in
    the Company and the risk associated with such an investment?

	 	 	 
	Yes	 	No

 

	 	(c)	Do you understand that there is no guarantee of any financial return
    on this investment?

 

	 	 	 
	Yes	 	No

 

	 	(d)	Do you understand that this investment is not liquid?

 

	 	 	 
	Yes	 	No

 

	 	(e)	Do you have adequate means of providing for your current needs and personal
    contingencies in view of the fact that this is not a liquid investment?

 

	 	 	 
	Yes	 	No

 

    	10

    	 

    

 

	 	(f)	Are you aware of the Company’s business affairs
    and financial condition, and have you acquired all such information about the Company as you deem necessary and appropriate
    to enable you to reach an informed and knowledgeable decision to acquire the Units?

 

	 	 	 
	Yes	 	No

 

	 	(g)	Do you have a “pre-existing relationship” with the Company
    or any of its officers, managers or members?

 

	 	 	 
	Yes	 	No

 

	 	 	(For purposes hereof, “Pre-existing relationship”
    means any relationship consisting of personal or business contacts of a nature and duration such as would enable a reasonably
    prudent Investor to be aware of the character, business acumen, and general business and financial circumstances of the person
    with whom such relationship exists.)
	 	 	 
	 	 	If so, please indicate whether the relationship is with the
    Company, and/or name the individual(s) with whom you have a pre-existing relationship and describe the relationship:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	(h)	Do you agree that you are able to bear the economic risk of
    an investment in the Securities and at the present time, you are able to afford a complete loss of such investment?

 

	 	 	 
	Yes	 	No

 

	 	(i)	Do you agree, either alone or together with your
    representatives, that you have such knowledge, sophistication and experience in business and financial matters so as to be
    capable of evaluating the merits and risks of the prospective investment in the Securities, and you have so evaluated the
    merits and risks of such investment?

 

	 	 	 
	Yes	 	No

 

    	11

    	 

    

  

	C11.	In order for the Company to comply with applicable
    anti-money laundering/U.S. Treasury Department Office of Foreign Assets Control (“OFAC”) rules and regulations,
    Investor is required to provide the following information:
	 	 	 
	 	(a)	Payment Information
	 	 	 
	 	 	(i) Name and address (including country) of the bank from which
    Investor’s payment to the Company is being wired (the “Wiring Bank”):
	 	 	 
	 	 	 
	 	 	 
	 	 	(ii) Investor’s wiring instructions at the Wiring Bank:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	(iii) Is the Wiring Bank located in the U.S. or another “FATF Country”*?
	 	 	 
	 	 	                 Yes
                               No
	 	 	 
	 	 	(iv) Is Investor a customer of the Wiring Bank? 
	 	 	 
	 	 	                 Yes
                               No
	 	 	 
	 	(b)	Additional Information
	 	 	 
	 	Investors wishing to subscribe must provide the following additional information
    or documents.

 

	 	For Individual Investors:
	 	 	 
	 	          	A copy of a government issued form of picture identification (e.g., passport or drivers
    license).
	 	 	 
	 	         	Proof of the individual’s current address (e.g.,
    current utility bill), if not included in the form of picture identification.
	 	 	 
	 	         	One or more of the above documents have been previously provided to the Placement Agent.

  

 

 

* As of the date hereof, countries that are
members of the Financial Action Task Force on Money Laundering (“FATF Country”) are: Argentina, Australia,
Austria, Belgium, Brazil, Canada, Denmark, Finland, France, Germany, Greece, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg,
Mexico, Kingdom of the Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa, Spain, Sweden,
Switzerland, Turkey, United Kingdom and the United States of America.

 

    	12

    	 

    

 

SECTION D: CORPORATE OFFEREES OR PARTNERSHIP OFFEREES

 

	D1.	General Information
	 	 
	 	Legal name of corporation or partnership:                                                                                                            
	 	 
	 	Fictitious name (d/b/a):                                                                                                            
	 	 
	 	State or place of incorporation or formation:                                                                                                            
	 	 
	 	Date of incorporation or formation:                                                                                                            
	 	 
	 	If partnership, type:______ General______ Limited
	 	 
	 	Federal I.D. number:                                                                                                            
	 	 
	 	Fiscal year ends:                                                                                                            
	 	 
	 	Number of equity owners or partners:                                                                                                            
	 	 
	 	If Investor is a partnership, list names of each partner is the partnership:

	 	 
	 	                                                                                                                                                                                              
	 	 
	 	Name and title of authorized person executing Investor Questionnaire:

	 	 
	 	                                                                                                                                                                                             
	 	 
	 	Business address:                                                                                                            
	 	 
	 	Mailing address (if different):                                                                                                            
	 	 
	 	Telephone number: (        )                              Facsimile
    number: (        )                             
	 	 
	 	Email address:                                                                                                           
	 	 
	D2.	Bank Information
	 	 
	 	Name of primary bank:                                                                                                           
	 	 
	 	Address:                                                                                                           
	 	 
	 	Telephone number: (        )                             
	 	 
	 	Account type and number:                                                                                                           
	 	 
	 	Person familiar with corporation’s or partnership’s
        account:                                                                                             

 

    	13

    	 

    

 

	 	Was the corporation or partnership formed for the specific purpose of
    purchasing the Units?

	 	 	 
	Yes	 	No

 

	 	Check if applicable to the corporation:
	 	 
	 	Subchapter S________Professional_______

 

	D3.	The undersigned represents and warrants as follows:
	 	 
	 	(a)	The corporation or partnership, as the case may
    be, has been duly organized (if a partnership) is validly existing as a corporation or partnership in good standing under
    the laws of the jurisdiction of its incorporation or formation with full power and authority to enter into the transactions
    contemplated by the Investor Questionnaire;
	 	 
	 	(b)	(i)	The officers or partners of the undersigned who,
    on behalf of the undersigned, have considered the purchase of the Units and the advisers, if any, of the corporation or the
    partnership, as the case may be, in connection with such consideration are named below in this Investor Questionnaire, and
    such officers and partners or advisers, if any, were duly authorized to act for the corporation or the partnership in reviewing
    such investment;
	 	 	 	 
	 	 	(ii)	The names and positions of the officers or partners, of the
    undersigned who, on its behalf, have reviewed the purchase of the Units are as follows:
	 	 	 	 
	 	 	 	                                                                                                                                                  
	 	 	 	 
	 	 	 	                                                                                                                                                  
	 	 	 	 
	 	 	(iii)	In evaluating the merits and risks of the purchase of the Units,
    the corporation or the partnership, as the case may be, intends to rely upon the advice of, or will consult with, the following
    persons:
	 	 	 	 
	 	 	 	                                                                                                                                                  
	 	 	 	 
	 	 	 	                                                                                                                                                  
	 	 	 	 
	 	(c)	The officers of the corporation (if not Accredited
    Investors) or the partners of the partnership who, on its behalf, have considered the purchase of the Units and the advisers,
    if any, of the corporation or the partnership who, in connection with such consideration, together have such knowledge and
    experience in financial and business matters that such officer(s), partner(s) and such adviser(s), if any, together are capable
    of evaluating the merits and risks of the purchase of  the Units and of making an informed investment decision;

  

    	14

    	 

    

 

	 

                                                                      

                                                                      
	(d)	Together with any corporation or group of corporations
    with which it files a consolidated federal income tax return, the undersigned has reserves and/or net worth adequate to permit
    it to satisfy any tax or other liabilities arising from its personal liability with respect to its investment in this Offering
    and the operation thereof;
	 	 	 
	 	(e)	The total assets of the corporation or the partnership are in
    excess of $___________________.
	 	 	 
	 	(f)	The corporation or the partnership has had, during each of the
    past two years, gross income from all sources of at least $_______________ and $____________, respectively;
	 	 	 
	 	(g)	The undersigned expects the corporation or the partnership to
    have during the current and the next tax year, gross income from all sources of at least $_______ and $__________.
	 	 	 
	 	(h)	The undersigned knows of no pending or threatened litigation,
    the outcome of which could adversely affect the answer to any question hereunder.

 

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    	15

    	 

    

 

SECTION E: TRUST OFFEREES

 

	E1.	General Information
	 	 
	 	Legal name:                                                                                                            
	 	 
	 	State or place of formation:                                                                                                            
	 	 
	 	Date of formation:                                                                                                            
	 	 
	 	Federal I.D. number: __________________   Fiscal year ends:                                               
	 	 
	 	Number of beneficiaries:                                                                                                            
	 	 
	 	Principal purpose:                                                                                                            
	 	 
	 	Was the trust formed for the specific purpose of purchasing
        the Securities?

        

 

	 	 	 
	Yes	 	No

 

	 	Business address:                                                                                                           
	 	 
	 	Mailing address (if different):                                                                                                            
	 	
	 	                                                                                                                                                              
	 	 
	 	Telephone number: (        )                              
	 	 
	 	Facsimile number: (        )                              
	 	 
	 	Email address:                                                                                                            

 

	E2.	Authorization:	If the trust was established in connection with
    a deferred compensation plan, please attach a copy of the trust’s organizational documents and a properly certified
    copy of the resolutions adopted by the trust’s board of directors authorizing the trust to purchase the Units and authorizing
    the trustee named below to execute on behalf of the trust all relevant documents necessary to subscribe for and purchase the
    Units. In all cases, please attach a properly certified copy of the resolutions adopted by the trustees of the trust authorizing
    the trust to purchase the Units and authorizing the trustee named below to execute on behalf of the trust all relevant documents
    necessary to subscribe for and purchase the Units.
	 	 	 
	 	Name of trustee authorized to execute the Investor Questionnaire:                                                         

 

    	16

    	 

    

 

	E3.	Name of primary bank:                                                                                                            
	 	 
	 	Address:                                                                                                            
	 	
	 	                                                                                                                                                              
	 	 
	 	Telephone number: (        )                              
	 	 
	 	Facsimile number: (        )                              
	 	 
	 	Account type and number:                                                                                                            
	 	 
	 	Person familiar with trust’s account:                                                                                              
	 	 
	E4.	Additional Information
	 	 
	 	(a). Certain trusts generally may not qualify as accredited
    investors except under special circumstances. Therefore, if you intend to purchase the shares of the Company’s securities
    in whole or in part through a trust, please answer each of the following questions.
	 	 
	 	Is the trustee of the trust a national or
    state bank that is acting in its fiduciary capacity in making the investment on behalf of the trust?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	Does this investment in the Company exceed
    10% of the trust assets?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	(b). If the trust is a revocable trust, please complete Question
    1 below. If the trust is an irrevocable trust, please complete Question 2 below.
	 	 
	 	1. REVOCABLE TRUSTS
	 	 
	 	Can the trust be amended or revoked at any
    time by its grantors:
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	If yes, please answer the following questions
    relating to each grantor (please add sheets if necessary):
	 	 
	 	Grantor Name:                                                                                                

 

    	17

    	 

    

 

	 	Net worth of grantor (including
    spouse, if applicable), excluding home, home furnishings and automobiles exceeds $1,000,000?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	OR
	 	 
	 	Income (exclusive of any income attributable
    to spouse) was in excess of $200, 000 for 2012 and 2013 and is reasonably expected to be in excess of $200,000 for 2014?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	OR
	 	 
	 	Income (including income attributable to
    spouse) was in excess of $300,000 for 2012 and 2013 and is reasonably expected to be in excess of $300,000 for 2014?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	2. IRREVOCABLE TRUSTS
	 	 
	 	If the trust is an irrevocable trust, please
    answer the following questions:
	 	 
	 	Please provide the name of each trustee:
	 	 
	 	Trustee Name:                                                                                                
	 	 
	 	Trustee Name:                                                                                                 
	 	 
	 	Does the trust have assets greater than
    $5 million?
	 	 
	 	Yes [  ]                      No
    [  ]
	 	 
	 	Do you have such knowledge and experience
    in financial and business matters as to be capable of evaluating the merits and risks of an investment in the Company?
	 	 
	 	Yes [  ]                      No
    [  ]

 

    	18

    	 

    

 

	 	Indicate how often you invest in:
	 	 
	 	Marketable Securities
	 	 
	 	Often [  ] Occasionally [  ] Seldom [  ]
    Never [  ]
	 	 
	 	Restricted Securities
	 	 
	 	Often [  ] Occasionally [  ] Seldom [  ]
    Never [  ]
	 	 
	 	Venture Capital Companies
	 	 
	 	Often [  ] Occasionally [  ] Seldom [  ]
    Never [  ]

 

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    	19

    	 

    

 

SECTION F: QUALIFIED PENSION PLAN (“PLAN”)
OFFEREES

 

	F1.	Please check one:

 

		______a.	The Plan requires
                                         the investment of each beneficiary or participant to be held in a segregated account
                                         and the Plan allows each beneficiary or participant to make his own investment decisions
                                         and, the decision to purchase the Units has been made by the beneficiary or the participant
                                         and such beneficiary or participant is an Accredited Investor (Please have each such
                                         beneficiary or participant execute a separate Investor Questionnaire).

 

OR

 

		______b.	The investment
                                         decisions made for the Plan are made by a plan fiduciary, whether a bank, an insurance
                                         company, or a registered investment adviser.

 

OR

 

		______c.	The Plan has total assets exceeding
                                         $5,000,000.

 

	F2.	General Information

 

	 	Legal name:	 
	 	 	 
	 	State or place of formation:	 
	 	 	 
	 	Date of formation:	 
	 	 	 
	 	Federal I.D. number:	 	Fiscal
    year ends:	 
	 	 	 
	 	Number of beneficiaries:	 
	 	 	 
	 	Principal purpose:	 
	 	 	 
	 	Business address:	 
	 	 	 
	 	Telephone number: 	(             )
	 	 	 
	 	Facsimile number: 	(             )
	 	 	 
	 	Email address:	 
	 	 	 
	 	Mailing address:	 
	 	 	 
	 	 	 

 

	F3.	Authorization:	If the investment decision is being made by a beneficiary
    or participant of a Plan, please attach applicable trust documents which permit each beneficiary or participant to make his
    own investment decisions. In all other cases, please attach a properly certified copy of the resolutions adopted by the trustees
    of the Plan trust authorizing the Plan to purchase the Units and authorizing the fiduciary named below to execute on behalf
    of the Plan all relevant documents necessary to subscribe for and purchase the Units.

 

	 	Name of trustee authorized to execute the Investor Questionnaire:
	 	 

 

	F4.	Name of primary bank:

	 	 	 
	 	Address: 	 
	 	 	 
	 	Telephone number: 	(            
    )
	 	 	 
	 	Facsimile number: 	(             )
	 	 	 
	 	Account type and number: 	 
	 	 	 
	 	Person familiar with your account: 	 

 

    	20

    	 

    

 

SECTION G: SUBSCRIPTION

 

The Investor
hereby irrevocably subscribes for and agrees to purchase the Debentures and Warrants for an aggregate purchase price equal to
the gross subscription price set forth on the signature page hereof (the “Purchase Price”) and, subject to
the terms hereof, the Company agrees to sell the Debentures and Warrants to the Investor for the Purchase Price.

 

SECTION H: REPRESENTATIONS AND WARRANTIES BY ALL SUBSCRIBERS

 

By signing this Subscription Agreement, the
undersigned hereby confirms the following statements:

 

(a) I have read the Memorandum
and this Subscription Agreement and other accompanying documents of the Company, and am aware of and understand the risk factors
disclosed therein related to the Company and an investment in the Company.

 

(b) I am aware that the
Offering involves Securities for which no market exists, thereby requiring any investment to be maintained for an indefinite period
of time. (c)I acknowledge that any delivery to me of the Memorandum relating to the Securities prior to the determination
by the Company or the Placement Agent of my suitability as a Subscriber shall not constitute an offer of the Securities until
such determination of suitability shall be made, and I agree that I shall promptly return the Memorandum and the other Offering
documents to the Company or the Placement Agent upon request.

 

(d) I also understand
and agree that, although the Company and the Placement Agent will use their respective best efforts to keep the information provided
in answers to this Subscription Agreement strictly confidential, the Company and the Placement Agent or their respective counsel
may present this Subscription Agreement and the information provided in answer to it to such parties as they may deem advisable
if called upon to establish the availability under any federal or state securities laws of an exemption from registration of the
Offering or if the contents thereof are relevant to any issue in any action, suit or proceeding to which the Company, the Placement
Agent or their respective affiliates is a party, or by which they are or may be bound or as otherwise required by law or regulatory
authority.

 

(e) I realize that this
Subscription Agreement does not constitute an offer to sell or a solicitation of an offer to buy the Securities or any other security
of the Company but is merely a request for information.

 

(f) I understand that
the Securities are being offered without registration under the Act in reliance upon the private offering exemption contained
therein, and that such reliance is based in part on the information herein supplied. For the foregoing reasons and to induce the
Company to issue and deliver the Securities to me, I represent and warrant that the information stated herein is true, accurate
and complete, and I agree to notify and supply corrective information promptly to the Company as provided above if any of such
information becomes inaccurate or incomplete.

 

(g) The individual signing below on behalf
of any entity hereby warrants and represents that he/she is authorized to execute this Subscription Agreement on behalf of such
entity.

 

(h) The undersigned is
able to bear the economic risk of the investment in the Securities and can afford a complete loss of such investment. I understand
that the Company is a reporting company under the Securities and Exchange Act of 1934, as amended and files periodic reports with
the SEC. The undersigned has reviewed such recent filings by the Company, including, without limitation, its recent annual report
on Form 10-K for the year ended December 31, 2014, as filed with the SEC on March 31, 2015, which includes a description of the
Company, the risks involved with an investment in the Company and its business and operations and financial statements.

 

(i) Subject to the terms
and conditions hereof and on the basis of the representations and warranties hereinafter set forth, the Company hereby agrees
to issue and sell to the Subscriber and the Subscriber agrees to purchase from the Company, upon closing of the Offering, the
Debentures and Warrants as described in the Memorandum. The Company or the Placement Agent may reject any subscription in whole
or in part.

 

(j) The Subscriber acknowledges
and agrees that there is a Minimum Offering Amount of $1,500,000 in aggregate gross proceeds of subscriptions prior to release
of funds to the Company and that pending acceptance of the Minimum Offering and throughout the Offering period all subscription
funds shall be held in a non-interest bearing escrow account. The Placement Agent and its officers, directors and other associated
persons may purchase Securities, which purchases shall count towards satisfaction of the Minimum Offering.

 

    	21

    	 

    

 

(k) In entering into this
Subscription Agreement and in purchasing the Units, the Subscriber further acknowledges that:

 

		(i)	The Company has informed the
                                         Subscriber that the Securities have not been offered for sale by means of general advertising
                                         or solicitation.

 

		(ii)	The Securities may not be
                                         resold by the Subscriber in the absence of a registration under the Act or exemption
                                         from registration. In particular, the Subscriber is aware that the Securities will be
                                         “restricted securities”, as such term is defined in Rule 144 promulgated
                                         under the Act (“Rule 144”), and they may not be sold pursuant to Rule
                                         144, unless the conditions thereof are met.

 

		(iii)	In the event the Company
                                         determines to issue certificates evidencing the Securities, the following legends (or
                                         similar language) shall be placed on such certificate(s):

 

THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), OR ANY STATE SECURITIES LAWS AND
NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A
REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) THE COMPANY
RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE
COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES LAWS.

 

		(iv)	The Company may at any time
                                         place a stop transfer order on its transfer books against the Securities. Such stop order
                                         will be removed, and further transfer of the Securities will be permitted upon an effective
                                         registration of the respective Securities, or the receipt by the Company of an opinion
                                         of counsel satisfactory to the Company that such further transfer may be effected pursuant
                                         to an applicable exemption from registration.

 

		(v)	The purchase of the Units
                                         involves risks which the Subscriber has evaluated, and the Subscriber is able to bear
                                         the economic risk of the purchase of such securities and the loss of its entire investment.

 

(l) The Subscriber agrees
to indemnify and hold harmless the Company and the Placement Agent , their respective officers, managers, members, employees,
agents, counsel and affiliates and each other person, if any, who controls the Company or the Placement Agent, within the meaning
of Section 15 of the Act or Section 20 of the Exchange Act, against any and all losses, liabilities, claims, damages and all expenses
reasonably incurred in investigating, preparing or defending against any litigation commenced or threatened or any claim whatsoever
arising out of or based upon any false representation or warranty or breach or failure by the Subscriber to comply with any covenant
or agreement made by the Subscriber herein or in any other document furnished by the Subscriber to any of the foregoing in connection
with this transaction.

 

(m) The Subscriber hereby
acknowledges and agrees, subject to any applicable state securities laws that the subscription and application hereunder are irrevocable,
that the Subscriber is not entitled to cancel, terminate or revoke this Subscription Agreement and that this Subscription Agreement
shall survive the death or disability of the Subscriber and shall be binding upon and inure to the benefit of the Subscriber and
his heirs, executors, administrators, successors, legal representatives, and assigns. If the Subscriber is more than one person,
the obligations of the Subscriber hereunder shall be joint and several, and the agreements, representations, warranties, and acknowledgments
herein contained shall be deemed to be made by and be binding upon each such person and his heirs, executors, administrators,
successors, legal representatives, and assigns.

 

    	22

    	 

    

 

(n) The Company and the
Placement Agent have each employed its own legal counsel in connection with the Offering. The Subscribers have not been represented
by independent counsel in connection with the preparation of the Memorandum or the terms of the Offering and no investigation
of the merits or fairness of the Offering has been conducted on behalf of the Subscribers. Prospective Subscribers should consult
with their own legal, tax and financial advisors with respect to the Offering made pursuant to the Memorandum.

 

(o) The undersigned hereby
acknowledges that officers, managers, members, employees and affiliates of the Company and/or the Placement Agent may purchase
Units in the Offering, which purchases may count towards the Minimum Offering Amount.

 

(p) My answers to the
foregoing questions are true and complete to the best of my information and belief and I will promptly notify the Company or the
Placement Agent of any changes in the information I have provided.

 

(q) Notwithstanding anything
else contained in this Subscription Agreement or the Memorandum, each prospective investor (and its employees, representatives
or other agents) and the Company may disclose to any and all persons, without limitation of any kind, the tax treatment and tax
structure (as such terms are used in Sections 6011, 6111 and 6112 of the Code and the Treasury Regulations promulgated thereunder)
of the undersigned subscribers investment in the Company and any transactions entered into by the Company and all materials of
any kind (including opinions or other tax analyses) that are provided to such prospective investor relating to such tax treatment
and tax structure; provided that no prospective investor or its employees, representatives or agents shall disclose any
information for which nondisclosure is reasonably necessary in order to comply with U.S. securities laws; and provided
further that this authorization is not intended to permit disclosure of any term or detail not relevant to the tax treatment
or the tax structure of the Company, the Offering or transactions entered into by the parties hereto.

 

The undersigned understands
and agrees that this authorization to disclose such tax treatment and tax structure is not intended to permit disclosure of any
other information including (without limitation) (i) any portion of any materials to the extent not related to the tax treatment
or tax structure of the Company, the Offering or transactions entered into by the undersigned and the Company, (ii) the identities
of any investors in the Offering or (iii) any other term or detail not relevant to the tax treatment or the tax structure of the
Partnership or transactions entered into by it.

 

The undersigned has been
advised by the Company and the Placement Agent that the principal amount of Debentures to be issued shall include original issue
discount, and therefore the principal amount shall be greater than the subscription amount paid by the undersigned. The undersigned
has been advised to consult its own tax advisors with respect to the effect of such original issue discount.

 

(r) The recipient, by
accepting this Subscription Agreement and related Offering documents confirms its understanding that the Offering and its terms
may constitute material non public information and agrees (i) not to distribute or reproduce the offering documents, in whole
or in part, at any time, without the prior written consent of the Company and the Placement Agent, (ii) to keep confidential the
existence of this document and the information contained herein, and (iii) refrain from trading in the publicly-traded securities
of the Company for so long as the undersigned is in possession of the material non-public information contained herein.

 

    	23

    	 

    

 

I. COVENANTS, REPRESENTATIONS AND WARRANTS
OF THE COMPANY

 

(a) The Company is a corporation
duly incorporated, validly existing and in good standing under the laws of the State of Massachusetts and has the corporate power
to conduct the business which it conducts and proposes to conduct.

 

(b) The execution, delivery
and performance of this Subscription Agreement by the Company have been duly authorized by the Company and all other corporate
action required to authorize and consummate the offer and sate of the Units has been duly taken and approved.

 

(c) The Debentures and
Warrants to be issued and sold to the undersigned as provided in the Memorandum have been duly authorized and when issued and
delivered against payment therefor, will be validly issued, fully paid and non-assessable and will conform to the description
thereof in the Memorandum. There are no preemptive or other rights to subscribe for or to purchase, nor any restriction upon the
voting or transfer of, any shares of the Common Stock issuable upon conversion of the Debentures or exercise of the Warrants pursuant
to the Company’s certificate of incorporation or bylaws or any agreement or other outstanding instrument to which the Company
is a party or is otherwise known to the Company. On or before the initial closing of the Offering, the Company shall have filed
an amendment to its Certificate of Incorporation with the State of Massachusetts to increase its authorized shares of Common Stock
to 100 million shares of Common Stock. The Company shall obtain an affirmative vote of its Board of Directors to recommend to
its stockholders for a vote of stockholders in accordance with the laws of the State of Massachusetts and the rules and regulations
of the Securities and Exchange Commission, an increase in the number of shares of authorized Common Stock in a number so as to
provide for the conversion of all Debentures and exercise of all Warrants in accordance herewith and therewith, on or before November
10, 2015, and a vote of stockholders occurs on or before December 31, 2015; provided, however, in the event that the stockholders
of the Company do not vote approving favor of such increase on or before December 31, 2015, the Company shall have 120 days from
December 31, 2015 to obtain such stockholder approval.

 

(d) The Company has obtained,
or is in the process of obtaining, all licenses, permits and other governmental authorizations necessary for the conduct of its
business, except where the failure to so obtain such licenses, permits and authorizations would not have a material adverse effect
on the Company. Such licenses, permits and other governmental authorizations which have been obtained are in full force and effect,
except where the failure to be so would not have a material adverse effect on the Company, and the Company is in all material
respects complying therewith.

 

(e) The Company knows
of no pending or threatened legal or governmental proceedings to which the Company is a party which would materially adversely
affect the business, financial condition or operations of the Company.

 

    	24

    	 

    

 

(f) The Company is not
in violation of or default under, nor will the execution and delivery of this Subscription Agreement or the issuance of the Common
Stock, or the consummation of the transactions herein contemplated, result in a violation of, or constitute a default under, the
Company’s Certificate of Incorporation or By-laws, any material obligations, agreements, covenants or conditions contained
in any bond, debenture, note or other evidence of indebtedness or in any material contract, indenture, mortgage, loan agreement,
lease, joint venture or other agreement or instrument to which the Company is a party or by which it or any of its properties
may be bound or any material order, rule, regulation, writ, injunction, or decree of any government, governmental instrumentality
or court, domestic or foreign.

 

(g) The information provided
in the Memorandum and its filings made with the SEC (“SEC Reports”) regarding the Company does not and do not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall use the proceeds of the Offering as described in the Memorandum.

 

(h) As of the date hereof
there is no litigation, arbitration, claim, governmental or other proceeding (formal or informal), or investigation pending or
to the Company’s knowledge threatened, with respect to the Company, or its respective operations, businesses, properties,
or assets, except as properly described in the Memorandum or such as individually or in the aggregate do not now have and will
not in the future have a material adverse effect upon the operations, business, properties, or assets of the Company.

 

(i) To the best of its
knowledge, the Company has not infringed, is not infringing, and has not received notice of infringement with respect to asserted
intangibles of others. To the best knowledge of the Company, none of the patents, patent applications, trademarks, service marks,
trade names and copyrights, and licenses and rights to the foregoing presently owned or held by the Company, materially infringe
upon any like right of any other person or entity. Except as disclosed in the Memorandum or its SEC Reports, the Company (i) owns
or has the right to use, free and clear of all liens, charges, claims, encumbrances, pledges, security interests, defects or other
restrictions of any kind whatsoever, sufficient patents, trademarks, service marks, trade names, copyrights, licenses and right
with respect to the foregoing, to conduct its business as presently conducted, and (ii), is not obligated or under any liability
whatsoever to make any payments by way of royalties, fees or otherwise to any owner or licensee of, or other claimant to, any
patent, trademark, service mark, trade name, copyright, know-how, technology or other intangible asset, with respect to the use
thereof or in connection with the conduct of its business as now conducted or otherwise. the Company has direct ownership of title
to all its intellectual property (including all United States and foreign patent applications and patents), other proprietary
rights, confidential information and know-how; owns all the rights to its Intangibles as are currently used in or have potential
for use in its business.

 

(j) The Company shall
provide for the transfer, upon request of the Subscriber, or removal of any legends upon the Securities, all as may be allowed
in accordance with SEC Rule 144, and provide any required opinions of counsel to the Company’s transfer agents, at no cost
to the Subscriber. The Company shall make generally available such information as may be necessary under SEC Rule 144 to allow
for the resale of Securities by the Subscriber for at least three (3) years after the final Closing of the Offering.

 

    	25

    	 

    

 

(k) The Subscribers shall
be entitled to the registration rights for the shares of Common Stock underlying the Debentures and Warrants (including any shares
of Common stock issuable upon conversion, exercise, redemption or payment of interest) description annexed hereto as Exhibit A
and incorporated herein. The Company shall provide upon request of the Subscriber in connection with a sale of the Securities
(and underlying shares of Common Stock) or removal of any legends upon the Securities and the underlying shares of Common Stock,
all as may be allowed in accordance with SEC Rule 144, and provide any required opinions of counsel to the Company’s transfer
agents, at no cost to the Subscriber.

 

(l) Within 24 hours of
the initial closing of the Offering, the Company shall disclose in a public filing on Form 8-K as filed with the SEC, information
related to the terms of the Offering as may be required and allowed under the rules and regulations of the SEC; provided, however,
the Company shall not be required to disclose the name or other information related to the Placement Agent in accordance with
SEC Rule 135.

 

(m) At or prior to the
initial closing of the Offering, the Company shall either obtain (i) subordination agreements from all secured creditors of the
Company subordinating their security interests and right of payment and collection to the holders of the Debentures, and otherwise
in form and substance acceptable to the collateral agent under the Security Agreement or (ii) termination of all security interests
on any assets of the Company.

 

 SECTION J: MISCELLANEOUS

 

(a) All notices or other
communications required under this Subscription Agreement shall be deemed given upon (i) hand delivery; (ii) receipt of confirmation
of delivery via overnight courier to a Subscriber or to the Company at the respective addresses set forth herein, or such other
addresses as a Subscriber or the Company shall designate to the other by notice in writing; (iii) receipt of confirmation of transmission
via facsimile at the facsimile number set forth herein, or such other facsimile number as a Subscriber or the Company shall designate
to the other by notice in writing; (iv) three days after mailing, postage prepaid, to a Subscriber or to the Company at the respective
addresses set forth herein, or such other addresses as a Subscriber or the Company shall designate to the other by notice in writing;
or (v) one business day after transmission via electronic mail to the electronic mail address set forth herein, or such other
electronic mail addresses as a Subscriber or the Company shall designate to the other by notice in writing.

 

(b) Each undersigned
Subscriber agrees that neither this Subscription Agreement, nor any of the Subscriber’s rights or interest herein or hereunder,
is transferable or assignable by the Subscriber, and further agrees that the transfer or assignment of any Securities acquired
pursuant hereto shall be made only in accordance with the provisions hereof and all applicable laws.

 

(c) Each undersigned
Subscriber agrees that, except as permitted by applicable law and confirmation of the Subscriber’s subscription at such
time, it may not cancel, terminate or revoke this Subscription Agreement or any agreement of the Subscriber made hereunder, and
that this Subscription Agreement shall survive the death or legal disability of the Subscriber and shall be binding upon the Subscriber’s
heirs, executors, administrators, successors and permitted assigns.

 

    	26

    	 

    

 

(d) All of the representations,
warranties, covenants, agreements and confirmations set out above shall survive the acceptance of the subscription made herein
and the issuance of the Securities in the Offering.

 

(e) Other than as reflected
in the Transaction Documents, as defined in the Debenture, this Subscription Agreement constitutes the complete and exclusive
statement of agreement among the parties hereto with respect to the subject matter herein and therein and replace and supersede
all prior written and oral agreements or statements by and among parties hereto or any of them.

 

(f) All headings herein
are inserted only for convenience and ease of reference and are not to be considered in the construction or interpretation of
any provision of this Subscription Agreement.

 

(g) All exhibits attached
to this Agreement are incorporated and shall be treated as if set forth herein.

 

(h) If any provision
of this Agreement or the application of such provision to any person or circumstance shall be held invalid, the remainder of this
Subscription Agreement or the application of such provision to persons or circumstances other than those to which it is held invalid
shall not be affected thereby.

 

(i) The parties agree
to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate
to effectuate, carry out and perform all of the terms, provisions, and conditions of this Subscription Agreement and the transactions
contemplated hereby.

 

(j) This Subscription
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute
one and the same instrument.

 

(k) The undersigned Subscriber
appoints [PLACEMENT AGENT] as collateral agent, in accordance with the terms of the Security Agreement entered into by the Subscriber
with the Company in connection with the purchase of the Debentures, and hereby approves the rights, duties and obligations of
the Subscriber and the collateral agent, respectively, as described therein. Further, the undersigned Subscriber and Company hereby
consent and agree that Garden [PLACEMENT AGENT] shall have the right, at its option, to assign and transfer its rights, duties
and obligations as collateral agent to an assignee upon 15 days notice to the Subscriber and the Company.

 

[SIGNATURE PAGES APPEAR
NEXT]

 

    	27

    	 

    

IN WITNESS WHEREOF, the undersigned has duly executed this Subscription Agreement and Investor Questionnaire and agrees to the
terms hereof.

 

	Dated: _______________, 2015	FOR INDIVIDUALS:

        (including Subscriber Representative)

	 	 
	 	 
	 	(Print Name)
	 	 
	 	 
	 	(Signature)
	 	 

 

	Dated: _______________, 2015	FOR INDIVIDUALS:

        (including Subscriber Representative)

	 	 
	 	 
	 	(Print Name)
	 	 
	 	 
	 	(Signature)
	 	 
	 	Principal Amount of Units

        Subscribed for hereby: 

	 	 
	 	$___________________

 

	Dated: ________________, ____	FOR INDIVIDUAL
                           RETIREMENT ACCOUNTS (IRA/ROTH IRA):

        (including Purchaser Representative) 

	 	 
	 	(Print Name)
	 	 
	 	 
	 	(Signature)
	 	 
	 	Principal Amount of Units

        Subscribed for hereby: 

	 	 
	 	$___________________

 

    	28

    	 

    

 

IN WITNESS WHEREOF, the
undersigned has duly executed this Subscription Agreement and Investor Questionnaire and agrees to the terms hereof.

 

	Dated: _______________, 2015	FOR CORPORATIONS:
	 	 
	 	 
	 	Name of Corporation
	 	 
	 	
	 	Name of Authorized Executive Officer of Corporation
	 	 
	 	 
	 	Signature of Authorized Executive Officer

 

	Dated: _______________, 2015	FOR PARTNERSHIPS:
	 	 
	 	 
	 	Name of Partnership
	 	 
	 	 
	 	Name of Authorized Partner
	 	 
	 	
	 	Signature of Authorized Partner
	 	 
	 	Principal Amount of Units

        Subscribed for hereby: 

	 	 
	 	$___________________

 

    	29

    	 

    

 

IN WITNESS WHEREOF, the
undersigned has duly executed this Subscription Agreement and Investor Questionnaire and agrees to the terms hereof.

 

	Dated: _______________, 2015	FOR TRUSTS:
	 	 
	 	 
	 	Name of Trust
	 	 
	 	 
	 	Name of Authorized Trustee
	 	 
	 	 
	 	Signature of Authorized Trustee
	 	 
	 	Principal Amount of Units

        Subscribed for hereby: 

	 	 
	 	$_______________________

 

    	30

    	 

    

 

ACCEPTANCE OF SUBSCRIPTION BY THE COMPANY

 

The undersigned, Pressure
BioSciences, Inc. hereby accepts the Subscription Agreement of ___________________ as of the date stated below.

 

	Dated:_________________, 2015	Pressure BioSciences, Inc
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	31

    	 

    

 

EXHIBIT A

 

REGISTRATION RIGHTS

 

1. Company Registration.
If at any time while the Debentures or Warrants are outstanding, the Company shall determine to register with the Securities
and Exchange Commission (“Commission”) under the Securities Act of 1933, as amended (the “Act”),
any of its securities either for its own account or the account of a security holder or holders of the Company, other than an
Excluded Registration (as defined below), the Company will:

 

(a) Promptly give written
notice of the proposed registration to Subscriber at least three (3) business days prior to the filing of any registration statement;
and

 

(b) Include in such registration
(and any related qualification under blue sky laws or other compliance), all of such Registrable Securities (as defined below)
as are specified in a written request or requests made by Subscriber or any other Holder (as defined below) received by the Company
within ten (10) days after such written notice from the Company is mailed or delivered. Such written request may specify all or
a part of Subscriber’s Registrable Securities. For purposes of this Subscription, “Registrable Securities”
means (b) “Registrable Securities” means, as of any date of determination, (a) all of the shares of Common Stock then
issued and issuable upon conversion in full or payment in lieu of cash or redemption of the Debentures (assuming on such date
the Debentures are converted in full without regard to any conversion limitations therein) or payment of interest thereon, (b)
all Warrant Shares then issued and issuable upon exercise of the Warrants (assuming on such date the Warrants are exercised in
full without regard to any exercise limitations therein), (c) any additional shares of Common Stock issued and issuable in connection
with any anti-dilution provisions in the Debentures or the Warrants (in each case, without giving effect to any limitations on
conversion set forth in the Debentures or limitations on exercise set forth in the Warrants) and (e) any securities issued or
then issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing;
provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be
required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto) for so
long as (i) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the Commission
under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such effective
Registration Statement, (ii) such Registrable Securities have been previously sold in accordance with Rule 144, or (iii) such
securities become eligible for resale without volume or manner-of-sale restrictions and without current public information pursuant
to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent
and the affected Holders and all Warrants are exercised by “cashless exercise” as provided in each of the Warrants,
as reasonably determined by the Company, upon the advice of counsel to the Company For purposes of this Subscription, “Holder”
means any person who holds Registrable Securities.

 

(c) For purposes of this
Subscription, the term “Excluded Registration” shall mean (i) a registration relating solely to shares of Common
Stock (or Common Stock based awards) issuable under an employee benefit plan approved by a majority of non-employee directors
or other compensation agreements of the Company provided that not more than 2,500,000 shares of Common stock are issuable to officers
or directors of the Company, (ii) a registration relating to the offer and sale of non convertible debt securities, (iii) a registration
relating to a corporate reorganization or other Rule 145 transaction, (iv) a registration on any registration form that does not
permit secondary sales or (v) in connection with an underwritten public offering on a firm commitment basis under the Securities
Act of 1933, for gross proceeds of at least $5,000,000 and the managing or lead underwriter advises the Company in writing that
marketing factors require a limitation on the number of shares to be underwritten, and that the underwriters may (subject to the
limitations set forth below) exclude all Registrable Securities from, or limit the number of Registrable Securities to be included
in, the registration and underwriting. The number of shares of securities that are entitled to be included in the registration
and underwriting shall be allocated, as follows: (i) first, to the Company for securities being sold for its own account, and
(ii) second, to the Holders of Debentures and Warrants (including Subscriber) requesting to include Registrable Securities in
such registration statement based on the pro rata percentage of Registrable Securities held by such Holders, assuming conversion,
and (iii) all other securities holders of the Company.

 

    	32

    	 

    

 

(d) Right to Terminate
Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under this
Subscription prior to the effectiveness of such registration whether or not Subscriber or any other Holder has elected to include
securities in such registration.

 

(e) Expenses of Registration.
All Registration Expenses (as defined below) incurred in connection with registration pursuant this Subscription shall be
borne by the Company. All Selling Expenses (as defined below) relating to securities registered on behalf of the Holders shall
be borne by the holders of securities included in such registration pro rata among each other on the basis of the number
of Registrable Securities so registered. For purposes of this Subscription, “Registration Expenses” shall mean
all expenses incurred in effecting any registration pursuant to this Subscription, including, without limitation, all registration,
qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company and one special
counsel for the Holders, blue sky fees and expenses, and expenses of any regular or special audits incident to or required by
any such registration, but shall not include Selling Expenses, fees and disbursements of other counsel for the Holders and the
compensation of regular employees of the Company, which shall be paid in any event by the Company. For purposes of this Subscription,
“Selling Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable
to the sale of Registrable Securities and fees and disbursements of counsel for any Holder (other than the fees and disbursements
of one special counsel for the Holders included in the Registration Expenses which shall equal the sum of $7,500).

 

2. Registration Procedures.
In the case of each registration effected by the Company pursuant to this Subscription, the Company will keep Subscriber advised
in writing as to the initiation of registration and the completion thereof. At its expense, the Company will use its commercially
reasonably efforts to:

 

(a) Keep such registration
effective for a period ending on the earlier of (i) the date that any of the Debentures or warrants are issued and outstanding
or (ii) the date Subscriber has completed the distribution described in the registration statement relating thereto;

 

(b) Prepare and file
with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with
such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition
of all securities covered by such registration statement for the period set forth in subsection (i) above;

 

(c) Furnish such number
of prospectuses, including any preliminary prospectuses, and other documents incident thereto, including any amendment of or supplement
to the prospectus, as Subscriber from time to time may reasonably request;

 

(d) Use its reasonable
best efforts to register and qualify the securities covered by such registration statement under such other securities or Blue
Sky laws of such jurisdiction as shall be reasonably requested by Subscriber; provided, that the Company shall not be required
in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process
in any such states or jurisdictions;

 

(e) Provide a transfer
agent and registrar for all Registrable Securities registered pursuant to such registration statement and a CUSIP number for all
such Registrable Securities, in each case not later than the effective date of such registration; and

 

    	33

    	 

    

 

(f) Cause all such Registrable
Securities registered pursuant hereunder to be listed on each securities exchange on which similar securities issued by the Company
are then listed.

 

(g) Include in any prospectus
the “Plan of Distribution” set forth in section 3 below.

 

3. Plan of Distribution.

 

Each Selling Stockholder (the “Selling
Stockholders”) of the securities of Pressure BioSciences, Inc. and any of their pledgees, assignees and successors-in-interest
may, from time to time, sell any or all of their securities covered hereby on the principal Trading Market or any other stock
exchange, market or trading facility on which the securities are traded or in private transactions. These sales may be at fixed
or negotiated prices. A Selling Stockholder may use any one or more of the following methods when selling securities:

 

	 	● 	ordinary brokerage transactions and transactions in which the
    broker-dealer solicits purchasers;
	 	 	 
	 	●	block trades in which the broker-dealer will attempt to sell
    the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction;
	 	 	 
	 	●	purchases by a broker-dealer as principal and resales by the
    broker-dealer for its account;
	 	 	 
	 	●	an exchange distribution in accordance with the rules of the
    applicable exchange;
	 	 	 
	 	●	privately negotiated transactions;
	 	 	 
	 	●	settlement of short sales;
	 	 	 
	 	●	in transactions through broker-dealers that agree with the Selling
    Stockholders to sell a specified number of such securities at a stipulated price per security;
	 	 	 
	 	●	through the writing or settlement of options or other hedging
    transactions, whether through an options exchange or otherwise;
	 	 	 
	 	●	a combination of any such methods of sale; or
	 	 	 
	 	●	any other method permitted pursuant to applicable law.

 

The Selling Stockholders may also sell securities
under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”), if available, rather than
under this prospectus.

 

Broker-dealers engaged by the Selling Stockholders
may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling
Stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated,
but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in excess of a customary
brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance
with FINRA IM-2440.

 

In connection with the
sale of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions
they assume. The Selling Stockholders may also sell securities short and deliver these securities to close out their short positions,
or loan or pledge the securities to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter
into option or other transactions with broker-dealers or other financial institutions or create one or more derivative securities
which require the delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which
securities such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended
to reflect such transaction).

 

    	34

    	 

    

 

The Selling Stockholders
and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters” within
the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement
or understanding, directly or indirectly, with any person to distribute the securities.

 

The Company is required
to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company has agreed
to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under the
Securities Act.

 

Because Selling Stockholders may be deemed
to be “underwriters” within the meaning of the Securities Act, they will be subject to the prospectus delivery requirements
of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this prospectus which qualify for
sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus. The Selling Stockholders
have advised us that there is no underwriter or coordinating broker acting in connection with the proposed sale of the resale
securities by the Selling Stockholders.

 

We agreed to keep this
prospectus effective until the earlier of (i) the date on which the securities may be resold by the Selling Stockholders without
registration and without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for
the Company to be in compliance with the current public information under Rule 144 under the Securities Act or any other rule
of similar effect or (ii) all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act
or any other rule of similar effect. The resale securities will be sold only through registered or licensed brokers or dealers
if required under applicable state securities laws. In addition, in certain states, the resale securities covered hereby may not
be sold unless they have been registered or qualified for sale in the applicable state or an exemption from the registration or
qualification requirement is available and is complied with.

 

Under applicable rules
and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously
engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation
M, prior to the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions
of the Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases
and sales of securities of the common stock by the Selling Stockholders or any other person. We will make copies of this prospectus
available to the Selling Stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser
at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

  

    	35

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