Document:

SUBSCRIPTION AGREEMENT

 

Cerulean Group, Inc.

Krizikova 22

Prague 8, 18600

Czech Republic

 

This Subscription Agreement (this “Agreement”)
has been executed by the subscriber set forth on the signature page hereof (the “Subscriber”) in connection
with the private placement offering (the “Offering”) of a minimum of $10,000,000 (the “Minimum
Offering”) and a maximum of $15,000,000 (the “Maximum Offering”) of Units of securities
(the “Units”), plus up to an additional $5,000,000 of Units to cover over-allotments, issued by Cerulean
Group, Inc., a Nevada corporation (the “Company”), at a purchase price of $1.00 per Unit (the “Purchase
Price”). Each Unit consists of (i) one share of the Company’s common stock, par value $0.001 per share (“Common
Stock”), and (ii) a warrant, substantially in the form of Exhibit A hereto (the “Warrant”),
representing the right to purchase one share of Common Stock, exercisable from issuance until five (5) years after the initial
Closing of the Offering at an exercise price of $2.00 per share. This subscription is being submitted to you in accordance with
and subject to the terms and conditions described in this Agreement, the Confidential and Non-Binding Summary Term Sheet of the
Company dated June [___], 2014, relating to the Offering (as the same may be amended or supplemented, the “Term Sheet”),
the Preliminary Confidential Private Placement Memorandum of the Company dated [__________], 2014 (as the same may be amended or
supplemented, the “PPM”), and any other Disclosure Materials (as defined below). The minimum subscription
is $25,000 (25,000 Units). The Company may accept subscriptions for less than $25,000 in its sole discretion.

 

The Units being subscribed for pursuant to
this Agreement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”).
The Offering is being made on a reasonable best efforts basis to “accredited investors,” as defined in Regulation D
under the Securities Act.

 

The Units are being offered and sold in connection
with a reverse triangular merger (the “Merger”) between a subsidiary of the Company and Enumeral Biomedical
Corp., a Delaware corporation (“Enumeral”), and certain other transactions, on the terms and conditions
described in the PPM, pursuant to which Enumeral will become a wholly owned subsidiary of the Company, and all of the outstanding
Enumeral preferred and common stock will be converted into shares of the Company’s Common Stock, and Enumeral stock options
and warrants will be converted into options and warrants to purchase shares of the Company’s Common Stock, as further described
in the PPM. Prior to the first Closing (as defined below), the Company intends to change its name to “Enumeral Biomedical
Holdings, Inc.” or another name that reflects its intended new business, and to reincorporate the Company from a Nevada corporation
to a Delaware corporation.

 

The undersigned acknowledges receipt of a copy
of the Registration Rights Agreement, substantially in the form of Exhibit B hereto (the “Registration Rights
Agreement”) and the Voting Agreement, substantially in the form of Exhibit C hereto (the “Voting
Agreement”).

 

Each closing of the Offering (a “Closing,”
and the date on which such Closing occurs hereinafter referred to as the “Closing Date”) shall take place
at the offices of Crone Kline Rinde LLP, at 488 Madison Avenue, New York, New York 10022 (or such other place as is mutually agreed
to by the Company and the Placement Agent (as defined below)).

 

    	 

    	 

    

 

The initial Closing will not occur unless:

 

		a.	funds deposited in escrow as described in Section 2(b) below equal at least the Minimum Offering,
and corresponding documentation with respect to such amounts has been delivered by Subscribers as described in Section 2(a) below;
and

 

		b.	the Merger shall have been effected (or is simultaneously effected).

 

Thereafter, the Company may conduct one or
more additional Closings for the sale of the Units until the termination of the Offering. Unless terminated earlier by the Company,
the Offering shall continue until July 31, 2014, which date may be extended until September 15, 2014, by the Company, without notice
to any Subscriber, past, current or prospective.

 

The PPM, the Term Sheet, and any supplement
or amendment thereto, and any disclosure schedule or other information document, delivered to the Subscriber prior to Subscriber’s
execution of this Agreement, and any such document delivered to the Subscriber after Subscriber’s execution of this Agreement
and prior to the Closing of the Subscriber’s subscription hereunder, are collectively referred to as the “Disclosure
Materials.”

 

		1.	Subscription. The undersigned Subscriber hereby subscribes to purchase the number of Units
set forth on the Omnibus Signature Page attached hereto, for the aggregate Purchase Price as set forth on such Omnibus Signature
Page, subject to the terms and conditions of this Agreement and on the basis of the representations, warranties, covenants and
agreements contained herein.

 

		2.	Subscription Procedure. To complete a subscription for the Units, the Subscriber must fully
comply with the subscription procedure provided in this Section on or before the Closing Date.

 

		a.	Subscription Documents.
                                         On or before the Closing Date, the Subscriber shall review, complete and execute the
                                         Omnibus Signature Page to this Agreement, the Investor Profile, Anti-Money Laundering
                                         Form and Investor Certification, attached hereto following the Omnibus Signature Page
                                         (collectively, the “Subscription Documents”), and deliver the
                                         Subscription Documents to the Company’s attorneys, Crone Kline Rinde LLP, LLP (“CKR”),
                                         at the address set forth under the caption “How to subscribe for Units in the
                                         private offering of Cerulean Group, Inc.” below. Executed documents may be
                                         delivered to CKR by facsimile or electronic mail (e-mail), if the Subscriber delivers
                                         the original copies of the documents to CKR as soon as practicable thereafter.

 

		b.	Purchase Price. Simultaneously
                                         with the delivery of the Subscription Documents to CKR as provided herein, and in any
                                         event on or prior to the Closing Date, the Subscriber shall deliver to U.S. Bank National
                                         Association, a national banking association, in its capacity as escrow agent (the “Escrow
                                         Agent”), the full Purchase Price by certified or other bank check or by
                                         wire transfer of immediately available funds, pursuant to the instructions set forth
                                         under the caption “How to subscribe for Units in the private offering of Cerulean
                                         Group, Inc.” below. Such funds will be held for the Purchaser’s benefit
                                         and will be returned promptly, without interest or offset, if this Subscription Agreement
                                         is not accepted by the Company or the Offering is terminated pursuant to its terms by
                                         the Company prior to the Closing as defined herein.

 

		c.	Company Discretion. The Subscriber understands and agrees that the Company in its sole discretion
reserves the right to accept or reject this or any other subscription for Units, in whole or in part, notwithstanding prior receipt
by the Subscriber of notice of acceptance of this subscription. The Company shall have no obligation hereunder until the Company
shall execute and deliver to the Subscriber an executed copy of this Agreement. If this subscription is rejected in whole, or the
offering of Units is terminated, all funds received from the Subscriber will be returned without interest or offset, and this Agreement
shall thereafter be of no further force or effect. If this subscription is rejected in part, the funds for the rejected portion
of this subscription will be returned without interest or offset, and this Agreement will continue in full force and effect to
the extent this subscription was accepted.

 

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		3.	Placement Agent. EDI Financial, Inc., a broker-dealer licensed with FINRA, has been engaged
on an exclusive basis as placement agent (the “Placement Agent”) for the Offering on a reasonable best
efforts basis. The Placement Agent and its sub-agents will be paid at closing a cash commission of 10% of funds raised from investors
(including current Enumeral stockholders) in the Offering and will receive warrants to purchase a number of shares of Common Stock
equal to 10% of the number of Units sold in the Offering to investors (including current Enumeral stockholders), with a term of
five (5) years and at an exercise price of $1.00 per share (the “Placement Agent Warrants”). Any sub-agent
of the Placement Agent that introduces investors to the Offering will be entitled to share in the cash fees and Placement Agent
Warrants attributable to those investors as described above, pursuant to the terms of an executed sub-agent agreement).

 

		4.	Representations and Warranties of the Company. The Company hereby represents and warrants
to the Subscriber the following:

 

		a)	Organization and Qualification. The Company is a corporation
duly organized and validly existing in good standing under the laws of the jurisdiction of its formation, and the Company and,
after the Merger, each of its subsidiaries, has the requisite corporate power to own its properties and to carry on its business
as now being conducted. Prior to the Merger, the Company does not have any subsidiaries. The Company is and, after the Merger,
each of its subsidiaries will be duly qualified as a foreign corporation to do business and is in good standing in every jurisdiction
in which the nature of the business conducted by it makes such qualification necessary, except to the extent that the failure to
be so qualified or be in good standing would not have a material adverse effect on the assets, business, condition (financial or
otherwise), results of operations or future prospects of the Company and its Subsidiaries taken as a whole (a “Material
Adverse Effect”). Each subsidiary of the Company, after giving effect to the Merger, is identified on Schedule
4a attached hereto. (For purposes of the representations and warranties contained in this
Section 4, the term “Subsidiary” as applied to the Company includes Enumeral and its subsidiaries on
a pro forma basis giving effect to the Merger.

 

		b)	Authorization, Enforcement, Compliance with Other Instruments.
(i) The Company has the requisite corporate power and authority to enter into and perform its obligations under this Agreement,
the Warrants, the Registration Rights Agreement and each of the other agreements and documents that are exhibits hereto or thereto
or are contemplated hereby or thereby or necessary or desirable to effect the transactions contemplated hereby or thereby (the
“Transaction Documents”) and to issue the shares of Common Stock contained in the Units (the “Shares”)
and the Warrants, and the shares of Common Stock issuable upon exercise of the Warrants (the “Warrant Shares”),
in accordance with the terms hereof and thereof, (ii) the execution and delivery by the Company of each of the Transaction Documents
and the consummation by it of the transactions contemplated hereby and thereby, including, without limitation, the issuance of
the Shares, the Warrants and the Warrant Shares, have been, or will be at the time of
execution of such Transaction Document, duly authorized by the Company’s Board of Directors, and no further consent or authorization
is, or will be at the time of execution of such Transaction Document, required by the Company, its respective Board of Directors
or its stockholders, (iii) each of the Transaction Documents will be duly executed and delivered by the Company, (iv) the Transaction
Documents when executed will constitute the valid and binding obligations of the Company enforceable against the Company in accordance
with their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies. 

 

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		c)	Capitalization. The authorized capital stock of the Company
currently consists of 75,000,000 shares of Common Stock and no shares of preferred stock and, prior to the Merger, the authorized
capital stock of the Company will consist of 300,000,000 shares of Common Stock and 10,000,000 shares of preferred stock. As of
the date hereof, the Company has 6,190,000 shares of Common Stock issued and outstanding. All of the outstanding shares of Common
Stock and, after the Merger, of the stock of each of the Company’s Subsidiaries have been duly authorized, validly issued
and are fully paid and nonassessable. After giving effect to the Merger, and other related matters, unless otherwise indicated:
(i) except as set forth on Schedule 4c(i), no shares of capital stock of the Company
or any of its Subsidiaries will be subject to preemptive rights or any other similar rights or any liens or encumbrances suffered
or permitted by the Company; (ii) except as set forth in the PPM or on Schedule 4c(ii)
there will be no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its Subsidiaries, or
contracts, commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to
issue additional shares of capital stock of the Company or any of its subsidiaries, (iii) there will be no outstanding debt securities
other than indebtedness as set forth in Schedule 4c(iv), (iv) other than pursuant
to the Registration Rights Agreement or the registration rights granted pursuant to that certain Amended and Restated Investor
Rights Agreement, dated as of June [___], 2014, between Enumeral and the investor parties thereto or as set forth in Schedule
4c(v), there will be no agreements or arrangements under which the Company or any of its
Subsidiaries is obligated to register the sale of any of their securities under the Securities Act, (v) there will be no outstanding
registration statements, and there will be no outstanding comment letters from the SEC or any other regulatory agency; (vi) except
as provided in this Agreement, there will be no securities or instruments containing anti-dilution or similar provisions or as
set forth in Schedule 4c(vii), including the right to adjust the exercise, exchange
or reset price under such securities, that will be triggered by the issuance of the Units as described in this Agreement; and (vii)
no co-sale right, right of first refusal or other similar right will exist with respect to the Units (or will exist with respect
to the Warrant Shares) or the issuance and sale thereof. Immediately after giving effect to the Merger and the Closing of the Minimum
Offering or the Maximum Offering, the pro forma outstanding capitalization of the Company will be as set forth under “Pro
Forma Capitalization” in the PPM. Upon request, the Company will make available to the Subscriber true and correct copies
of the Company’s Certificate of Incorporation, and as in effect on the date hereof (the “Certificate of Incorporation”),
and the Company’s By-laws, as in effect on the date hereof (the “By-laws”), and the terms of all
securities exercisable for Common Stock and the material rights of the holders thereof in respect thereto other than stock options
issued to officers, directors, employees and consultants.

 

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		d)	Issuance of Securities. The Shares and the Warrants are
duly authorized and, upon issuance in accordance with the terms hereof, shall be duly issued, fully paid and nonassessable, and
are free from all taxes, liens and charges with respect to the issue thereof. Upon issuance of the Warrant Shares upon exercise
of the Warrants, against payment therefor and in accordance with the terms of the Warrants, the Warrant Securities will be duly
issued, fully paid and nonassessable, and will be free from all taxes, liens and charges with respect to the issue thereof. 

 

		e)	No Conflicts. The execution, delivery and performance
of each of the Transaction Documents by the Company, and the consummation by the Company of the transactions contemplated hereby
and thereby will not (i) result in a violation of the Certificate of Incorporation or the By-laws (or equivalent constitutive document)
of the Company or any of its Subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of, or constitute
a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any Subsidiary
is a party, or result in a violation of any law, rule, regulation, order, judgment or decree (including U.S. federal and state
securities laws and regulations) applicable to the Company or any Subsidiary or by which any property or asset of the Company or
any Subsidiary is bound or affected except for those which could not reasonably be expected to have a Material Adverse Effect.
Except those which could not reasonably be expected to have a Material Adverse Effect, neither the Company nor any Subsidiary is
in violation of any term of or in default under its constitutive documents. Except those which could not reasonably be expected
to have a Material Adverse Effect, neither the Company nor any Subsidiary is in violation of any term of or in default under any
material contract, agreement, mortgage, indebtedness, indenture, instrument, judgment, decree or order or any statute, rule or
regulation applicable to the Company or any Subsidiary. The business of the Company and its Subsidiaries is not being conducted,
and shall not be conducted in violation of any material law, ordinance, or regulation of any governmental entity, except for any
violation which could not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. Except as
specifically contemplated by this Agreement and as required under the Securities Act and any applicable state securities laws,
neither the Company nor any of its Subsidiaries is required to obtain any consent, authorization or order of, or make any filing
or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under
or contemplated by this Agreement or the other Transaction Documents in accordance with the terms hereof or thereof. Except as
set forth on Schedule 4e, neither the execution and delivery by the Company of
the Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require
any notice, consent or waiver under any contract or instrument to which the Company or any Subsidiary is a party or by which the
Company or any Subsidiary is bound or to which any of their assets is subject, except for any notice, consent or waiver the absence
of which would not have a Material Adverse Effect and would not adversely affect the consummation of the transactions contemplated
hereby or thereby. All consents, authorizations, orders, filings and registrations which the Company or any of its Subsidiaries
is required to obtain pursuant to the preceding two sentences have been or will be obtained or effected on or prior to the Closing.
The Company is unaware of any facts or circumstance, which might give rise to any of the foregoing.

 

		f)	Absence of Litigation. There is no action, suit, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body now pending
or, to the knowledge of the Company, threatened, against or affecting the Company or any of its Subsidiaries, wherein an unfavorable
decision, ruling or finding would (i) adversely affect the validity or enforceability of, or the authority or ability of the Company
or any of its Subsidiaries to perform its obligations under, this Agreement or any of the other Transaction Documents, or (ii)
have a Material Adverse Effect.

 

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		g)	Acknowledgment Regarding Subscriber’s Purchase of the
Units. The Company acknowledges and agrees that each Subscriber is acting solely in the capacity of an arm’s length purchaser
with respect to the Transaction Documents and the transactions contemplated hereby and thereby. The Company further acknowledges
that each Subscriber is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect
to the Transaction Documents and the transactions contemplated hereby and thereby and any advice given by such Subscriber or any
of their respective representatives or agents in connection with the Transaction Documents and the transactions contemplated hereby
and thereby is merely incidental to such Subscriber’s purchase of the Units (and the Warrant Shares). The Company further
represents to the Subscribers that the Company’s decision to enter into the Transaction Documents has been based solely on
the independent evaluation by the Company and its representatives.

 

		h)	No General Solicitation. Neither the Company, nor any
of its affiliates, nor, to the knowledge of the Company, any person acting on its or their behalf, has engaged in any form of general
solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Units.

 

		i)	No Integrated Offering. Neither the Company, nor any of
its affiliates, nor to the knowledge of the Company, any person acting on its or their behalf has, directly or indirectly, made
any offers or sales of any security or solicited any offers to buy any security, under circumstances that would require registration
of the Units or the securities contained therein under the Securities Act or cause this offering of the Units or the securities
contained therein to be integrated with prior offerings by the Company for purposes of the Securities Act.

 

		j)	Employee Relations. Neither Company nor any Subsidiary
is involved in any labor dispute nor, to the knowledge of the Company, is any such dispute threatened. Neither Company nor any
Subsidiary is party to any collective bargaining agreement. The Company’s and/or its Subsidiaries’ employees are not
members of any union, and the Company believes that its and its Subsidiaries’ relationship with their respective employees
is good.

 

		k)	Intellectual Property Rights. After giving effect to the
Merger, and other related matters, unless otherwise indicated, except as set forth on Schedule 4k,
to the knowledge of the Company, the Company and its Subsidiaries own or possess all patents, trademarks, domain names (whether
or not registered) and any patentable improvements or copyrightable derivative works thereof, websites and intellectual property
rights relating thereto, service marks, trade names, copyrights, licenses and authorizations, and all rights with respect to the
foregoing, which are necessary for the conduct of its business as now conducted without any conflict with the rights of others
except for such conflicts that would not result in a Material Adverse Effect. Neither Company nor any Subsidiary has received any
notice of infringement of, or conflict with, the asserted rights of others with respect to any intellectual property that it utilizes.

 

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		l)	Environmental Laws.

 

		(i)	The Company and each Subsidiary has complied with all applicable Environmental Laws (as defined
below), except for violations of Environmental Laws that, individually or in the aggregate, have not had and would not reasonably
be expected to have a Material Adverse Effect. There is no pending or, to the knowledge of the Company, threatened civil or criminal
litigation, written notice of violation, formal administrative proceeding, or investigation, inquiry or information request, relating
to any Environmental Law involving the Company or any Subsidiary, except for litigation, notices of violations, formal administrative
proceedings or investigations, inquiries or information requests that, individually or in the aggregate, have not had and would
not reasonably be expected to have a Material Adverse Effect. For purposes of this Agreement, “Environmental Law” means
any national, state, provincial or local law, statute, rule or regulation or the common law relating to the environment or occupational
health and safety, including without limitation any statute, regulation, administrative decision or order pertaining to (i) treatment,
storage, disposal, generation and transportation of industrial, toxic or hazardous materials or substances or solid or hazardous
waste; (ii) air, water and noise pollution; (iii) groundwater and soil contamination; (iv) the release or threatened release into
the environment of industrial, toxic or hazardous materials or substances, or solid or hazardous waste, including without limitation
emissions, discharges, injections, spills, escapes or dumping of pollutants, contaminants or chemicals; (v) the protection of wild
life, marine life and wetlands, including without limitation all endangered and threatened species; (vi) storage tanks, vessels,
containers, abandoned or discarded barrels, and other closed receptacles; (vii) health and safety of employees and other persons;
and (viii) manufacturing, processing, using, distributing, treating, storing, disposing, transporting or handling of materials
regulated under any law as pollutants, contaminants, toxic or hazardous materials or substances or oil or petroleum products or
solid or hazardous waste. As used above, the terms “release” and “environment” shall have the meaning set
forth in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.

 

		(ii)	To the knowledge of the Company there is no material environmental liability with respect to any
solid or hazardous waste transporter or treatment, storage or disposal facility that has been used by the Company or any Subsidiary.

 

		(iii)	The Company and its Subsidiaries (i) have received all permits, licenses or other approvals required
of them under applicable Environmental Laws to conduct their respective businesses and (ii) are in compliance, in all material
respects, with all terms and conditions of any such permit, license or approval.

 

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		m)	Permits; FDA Compliance. The Company and its Subsidiaries
have all authorizations, approvals, clearances, licenses, permits, certificates or exemptions (including manufacturing approvals
and authorizations, pricing and reimbursement approvals, labeling approvals, registration notifications or their foreign equivalent)
issued by any regulatory authority or governmental agency (collectively, “Permits”) required to conduct
their respective businesses as currently conducted except to the extent that the failure to have such Permits would not have a
Material Adverse Effect. The conduct of business by the Company complies, and at all times has substantially complied, in all material
respects with the Federal Food, Drug and Cosmetic Act (the “FDCA”) and similar federal, state and foreign
laws applicable to the evaluation, testing, manufacturing, distribution, advertising and marketing of each of the Company’s
products, in whatever stage of development or commercialization except to the extent that the failure to so comply would not have
a Material Adverse Effect. To the knowledge of the Company, as of the date hereof, neither the United States Food and Drug Administration
(the “FDA”) nor any comparable regulatory authority or governmental agency is considering limiting, suspending
or revoking any such Permit or changing the marketing classification or labeling of the products of the Company or any of its Subsidiaries.
To the knowledge of the Company, there is no false or misleading information or material omission in any product application or
other submission by the Company or any of its Subsidiaries to the FDA or any comparable regulatory authority or governmental agency.
The Company or its Subsidiaries have fulfilled and performed in all material respects their obligations under each Permit, and,
as of the date hereof, to the knowledge of the Company, no event has occurred or condition or state of facts exists which would
constitute a breach or default or would cause revocation or termination of any such Permit except to the extent that such breach,
default, revocation or termination would not have a Material Adverse Effect. To the knowledge of the Company, any third party that
is a manufacturer or contractor for the Company or any of its Subsidiaries is in compliance in all material respects with all Permits
insofar as they pertain to the manufacture of product components or products for the Company. The Company and its Subsidiaries
have not received any Form FDA-483, notice of adverse finding, FDA warning letter, notice of violation or “untitled letter,”
notice of FDA action for import detention or refusal, or any other notice from the FDA or other governmental agency alleging or
asserting noncompliance with any applicable laws or Permits. The Company and its Subsidiaries are not subject to any obligation
arising under an administrative or regulatory action, FDA inspection, FDA warning letter, FDA notice of violation letter or other
notice, response or commitment made to or with the FDA or any comparable regulatory authority or governmental agency. The Company
and its Subsidiaries have made all notifications, submissions and reports required by the FDCA or similar federal, state and foreign
laws, except to the extent that the failure to make such notifications, submission or reports would not have a Material Adverse
Effect.

 

		n)	Title. After giving effect to the Merger, and other related
matters, unless otherwise indicated, neither the Company nor any of its Subsidiaries owns
any real property. After giving effect to the Merger, and other related matters, unless otherwise indicated, except as set forth
on Schedule 4n, each of the Company and its Subsidiaries has good and marketable
title to all of its personal property and assets, free and clear of any material restriction, mortgage, deed of trust, pledge,
lien, security interest or other charge, claim or encumbrance which would have a Material Adverse Effect. After giving effect to
the Merger, and other related matters, unless otherwise indicated, except as set forth on Schedule 4n,
with respect to properties and assets it leases, each of the Company and its Subsidiaries is in material compliance with such leases
and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Material Adverse Effect. 

 

		o)	No Material Adverse Breaches, etc. Neither Company nor
any Subsidiary is subject to any charter, corporate or other legal restriction, or any judgment, decree, order, rule or regulation
which in the judgment of the Company’s officers has had, or is reasonably expected in the future to have, a Material Adverse
Effect. Neither Company nor any Subsidiary is in breach of any contract or agreement which breach, in the judgment of the Company’s
officers, has had, or is reasonably expected to have a Material Adverse Effect.

 

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		p)	Tax Status. The Company and each Subsidiary has made and
filed (taking into account any valid extensions) all federal and state income and all other tax returns, reports and declarations
required by any jurisdiction to which it is subject and (unless and only to the extent that the Company or such Subsidiary has
set aside on its books provisions reasonably adequate for the payment of all unpaid and unreported taxes) has paid all taxes and
other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports
and declarations, except those being contested in good faith and has set aside on its books provision reasonably adequate for the
payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. To the knowledge
of the Company, there are no unpaid taxes in any material amount claimed to be due from the Company or any Subsidiary by the taxing
authority of any jurisdiction, and the officers of the Company know of no basis for any such claim.

 

		q)	Certain Transactions. Except for arm’s length transactions
pursuant to which the Company or any Subsidiary makes payments in the ordinary course of business upon terms no less favorable
than it could obtain from third parties, none of the officers, directors, or employees of the Company or any Subsidiary is presently
a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors), including
any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or
personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or, to the knowledge
of the Company, any corporation, partnership, trust or other entity in which any officer, director, or any such employee has a
substantial interest or is an officer, director, trustee or partner.

 

		r)	Rights of First Refusal. After giving effect to the Merger,
and other related matters, unless otherwise indicated, except as set forth on Schedule 4c(i)
or Schedule 4r, the Company is not obligated to offer the securities offered hereunder
on a right of first refusal basis or otherwise to any third parties including, but not limited to, current or former stockholders
of the Company, underwriters, brokers, agents or other third parties.

 

		s)	Reliance. The Company acknowledges that the Subscriber
is relying on the representations and warranties made by the Company hereunder and that such representations and warranties are
a material inducement to the Subscriber purchasing the Units. The Company further acknowledges that without such representations
and warranties of the Company made hereunder, the Subscribers would not enter into this Agreement.

 

		t.	Brokers’ Fees. Except as set forth in the PPM or on Schedule 4t, the
Company does not have any liability or obligation to pay any fees or commissions to any broker, finder or agent with respect to
the transactions contemplated by this Agreement, except for the payment of fees to the Placement Agent as described below

 

		u.	SEC Reports. The Company has filed all reports, schedules, forms, statements and other documents
required to be filed by the Company under the Securities Exchange Act of 1934, as amended, including pursuant to Section 13(a)
or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation
to file such material).

 

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		5.	Representations, Warranties and Agreements of the Subscriber. The Subscriber represents
and warrants to, and agrees with, the Company the following:

 

		a.	The Subscriber, its advisers, if any, and its designated representatives, if any, have the knowledge
and experience in financial and business matters necessary to evaluate the merits and risks of its prospective investment in the
Company, and have carefully reviewed and understand the risks of, and other considerations relating to, the purchase of Units and
the tax consequences of the investment, and have the ability to bear the economic risks of the investment.

 

		b.	The Subscriber is acquiring the Units, and upon exercise of the Warrants, the Warrant Shares, for
investment for its own account and not with the view to, or for resale in connection with, any distribution thereof. The Subscriber
understands and acknowledges that the Units, the Shares and the Warrants have not been, and the Warrant Shares will not be, registered
under the Securities Act or any state securities laws, by reason of a specific exemption from the registration provisions of the
Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature of the investment
intent as expressed herein. The Subscriber further represents that it does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participation to any third person with respect to any of the Units, the Shares, the
Warrants or the Warrant Shares. The Subscriber understands and acknowledges that the offering of the Units pursuant to this Agreement
will not be registered under the Securities Act nor under the state securities laws on the ground that the sale provided for in
this Agreement and the issuance of securities hereunder is exempt from the registration requirements of the Securities Act and
any applicable state securities laws.

 

		c.	The Subscriber is an “accredited investor” as defined in Rule 501 of Regulation D as
promulgated by the Securities and Exchange Commission under the Securities Act, for the reason(s) specified on the Accredited
Investor Certification attached hereto as completed by Subscriber, and Subscriber shall submit to the Company such further
assurances of such status as may be reasonably requested by the Company. The Subscriber further acknowledges and understands that
it is required to be an “accredited investor” at the time it exercises the Warrants. The Subscriber resides in the
jurisdiction set forth on the Subscriber’s Omnibus Signature Page affixed hereto.

 

		d.	The Subscriber (i) if a natural person, represents that he or she is the greater of (A) 21 years
of age or (B) the age of legal majority in his or her jurisdiction of residence, and has full power and authority to execute and
deliver this Agreement and all other related agreements or certificates and to carry out the provisions hereof and thereof; (ii)
if a corporation, partnership, or limited liability company or partnership, or association, joint stock company, trust, unincorporated
organization or other entity, represents that such entity was not formed for the specific purpose of acquiring the Units, such
entity is duly organized, validly existing and in good standing under the laws of the state or jurisdiction of its organization,
the consummation of the transactions contemplated hereby is authorized by, and will not result in a violation of state law or its
charter or other organizational documents, such entity has full power and authority to execute and deliver this Agreement and all
other related agreements or certificates and to carry out the provisions hereof and thereof and to purchase and hold the Units,
the execution and delivery of this Agreement has been duly authorized by all necessary action, this Agreement has been duly executed
and delivered on behalf of such entity and is a legal, valid and binding obligation of such entity; or (iii) if executing this
Agreement in a representative or fiduciary capacity, represents that it has full power and authority to execute and deliver this
Agreement in such capacity and on behalf of the subscribing individual, ward, partnership, trust, estate, corporation, or limited
liability company or partnership, or other entity for whom the Subscriber is executing this Agreement, and such individual, partnership,
ward, trust, estate, corporation, or limited liability company or partnership, or other entity has full right and power to perform
pursuant to this Agreement and make an investment in the Company, and represents that this Agreement constitutes a legal, valid
and binding obligation of such entity. The execution and delivery of this Agreement will not violate or be in conflict with any
order, judgment, injunction, agreement or controlling document to which the Subscriber is a party or by which it is bound.

 

    	10

    	 

    

 

		e.	The Subscriber understands that the Units are being offered and sold to it in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying
in part upon the truth and accuracy of, and such Subscriber’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of such Subscriber set forth herein in order to determine the availability of such exemptions
and the eligibility of such Subscriber to acquire such securities. The Subscriber further acknowledges and understands that the
Company is relying on the representations and warranties made by the Subscriber hereunder and that such representations and warranties
are a material inducement to the Company to sell the Units to the Subscriber. The Subscriber further acknowledges that without
such representations and warranties of the Subscriber made hereunder, the Company would not enter into this Agreement with the
Subscriber.

 

		f.	The Subscriber understands that no public market now exists, and there never will be a public market
for, the Units or the Warrants, that only a limited public market for the Company’s Common Stock exists and that there can
be no assurance that an active public market for the Common Stock will exist or continue to exist.

 

		g.	The Subscriber, its advisers, if any, and its designated representatives, if any, have received
and reviewed information about the Company, including all Disclosure Materials, and have had an opportunity to discuss the Company’s
business, management and financial affairs with the Company’s management. The Subscriber understands that such discussions,
as well as any Disclosure Material provided by the Company, were intended to describe the aspects of the Company’s business
and prospects which the Company believes to be material, but were not necessarily a thorough or exhaustive description, and except
as expressly set forth in this Agreement, the Company makes no representation or warranty with respect to the completeness of such
information and makes no representation or warranty of any kind with respect to any information provided by any entity other than
the Company. Some of such information may include projections as to the future performance of the Company, which projections may
not be realized, may be based on assumptions which may not be correct and may be subject to numerous factors beyond the Company’s
control. Additionally, the Subscriber understands and represents that it is purchasing the Units notwithstanding the fact that
the Company may disclose in the future certain material information the Subscriber has not received, including (without limitation)
financial statements of the Company and/or Enumeral for the current or prior fiscal periods, and any subsequent period financial
statements that will be filed with the Securities and Exchange Commission, that it is not relying on any such information in connection
with its purchase of the Units and that it waives any right of action with respect to the nondisclosure to it prior to its purchase
of the Units of any such information. Each Subscriber has sought such accounting, legal and tax advice as it has considered necessary
to make an informed investment decision with respect to its acquisition of the Units.

 

    	11

    	 

    

 

		h.	The Subscriber acknowledges that the Company is not acting as a financial advisor or fiduciary
of the Subscriber (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby
and thereby and no investment advice has been given by the Company or any of its representatives or agents in connection with the
Transaction Documents and the transactions contemplated hereby and thereby. The Subscriber further represents to the Company that
the Subscriber’s decision to enter into the Transaction Documents has been based solely on the independent evaluation by
the Subscriber and its representatives.

 

		i.	As of the Closing, all actions on the part of Subscriber, and its officers, directors and partners,
if applicable, necessary for the authorization, execution and delivery of this Agreement, the Registration Rights Agreement and
the Voting Agreement and the performance of all obligations of the Subscriber hereunder and thereunder shall have been taken, and
this Agreement, the Registration Rights Agreement and the Voting Agreement, assuming due execution by the parties hereto and thereto,
constitute valid and legally binding obligations of the Subscriber, enforceable in accordance with their respective terms, subject
to: (i) judicial principles limiting the availability of specific performance, injunctive relief, and other equitable remedies
and (ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect generally relating
to or affecting creditors’ rights.

 

		j.	Subscriber represents that neither it nor, to its knowledge, any person or entity controlling,
controlled by or under common control with it, nor any person having a beneficial interest in it, nor any person on whose behalf
the Subscriber is acting: (i) is a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the
United States (Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support
Terrorism); (ii) is named on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign
Assets Control; (iii) is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a
senior non-U.S. political figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited
from investing in the Company pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations,
rules or orders (categories (i) through (v), each a “Prohibited Subscriber”). The Subscriber agrees to
provide the Company, promptly upon request, all information that the Company reasonably deems necessary or appropriate to comply
with applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Subscriber
consents to the disclosure to U.S. regulators and law enforcement authorities by the Company and its affiliates and agents of such
information about the Subscriber as the Company reasonably deems necessary or appropriate to comply with applicable U.S. antimony
laundering, anti-terrorist and asset control laws, regulations, rules and orders. If the Subscriber is a financial institution
that is subject to the USA Patriot Act, the Subscriber represents that it has met all of its obligations under the USA Patriot
Act. The Subscriber acknowledges that if, following its investment in the Company, the Company reasonably believes that the Subscriber
is a Prohibited Subscriber or is otherwise engaged in suspicious activity or refuses to promptly provide information that the Company
requests, the Company has the right or may be obligated to prohibit additional investments, segregate the assets constituting the
investment in accordance with applicable regulations or immediately require the Subscriber to transfer the Shares, Warrants and/or
the Warrant Shares. The Subscriber further acknowledges that the Subscriber will have no claim against the Company or any of its
affiliates or agents for any form of damages as a result of any of the foregoing actions.

 

    	12

    	 

    

 

If the Subscriber is affiliated
with a non-U.S. banking institution (a “Foreign Bank”), or if the Subscriber receives deposits from,
makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Subscriber represents and warrants
to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address, in a country in which the
Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records related to its banking
activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign Bank to conduct banking
activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does not have a physical
presence in any country and that is not a regulated affiliate.

 

		k.	The Subscriber or its duly authorized representative realizes that because of the inherently speculative
nature of businesses of the kind conducted and contemplated by the Company, the Company’s financial results may be expected
to fluctuate from month to month and from period to period and will, generally, involve a high degree of financial and market risk
that could result in substantial or, at times, even total losses for investors in securities of the Company.

 

		l.	The Subscriber has adequate means of providing for its current and anticipated financial needs
and contingencies, is able to bear the economic risk for an indefinite period of time and has no need for liquidity of the investment
in the Units and could afford complete loss of such investment.

 

		m.	The Subscriber is not subscribing for Units as a result of or subsequent to any advertisement,
article, notice or other communication, published in any newspaper, magazine or similar media or broadcast over television, radio,
or the internet, or presented at any seminar or meeting, or any solicitation of a subscription by a person not previously known
to the Subscriber in connection with investments in securities generally.

 

		n.	The Subscriber acknowledges that no U.S. federal or state agency or any other government or governmental
agency has passed upon the Units, the Shares, the Warrants or the Warrant Shares or made any finding or determination as to the
fairness, suitability or wisdom of any investments therein.

 

		o.	The Subscriber agrees to be bound by all of the terms and conditions of the Registration Rights
Agreement and the Voting Agreement and to perform all obligations thereby imposed upon it.

 

		p.	All of the information that the Subscriber has heretofore furnished or which is set forth herein
is true, correct and complete as of the date of this Agreement, and, if there should be any material change in such information
prior to the admission of the undersigned to the Company, the Subscriber will immediately furnish revised or corrected information
to the Company.

 

		q.	(For ERISA plans only) The fiduciary of the ERISA plan (the “Plan”)
represents that such fiduciary has been informed of and understands the Company’s investment objectives, policies and strategies,
and that the decision to invest “plan assets” (as such term is defined in ERISA) in the Company is consistent with
the provisions of ERISA that require diversification of plan assets and impose other fiduciary responsibilities. The Subscriber
fiduciary or Plan (a) is responsible for the decision to invest in the Company; (b) is independent of the Company or any of its
affiliates; (c) is qualified to make such investment decision; and (d) in making such decision, the Purchaser fiduciary or Plan
has not relied primarily on any advice or recommendation of the Company or any of its affiliates.

 

    	13

    	 

    

 

		6.	Transfer Restrictions. The Subscriber acknowledges and agrees as follows:

 

		a.	The Units, the Shares, the Warrants and the Warrant Shares have not been registered for sale under
the Securities Act, in reliance on the private offering exemption in Section 4(a)(2) thereof; other than as expressly provide in
the Registration Rights Agreement, the Company does not currently intend to register the Units, the Shares, the Warrants or the
Warrant Shares under the Securities Act at any time in the future; and the undersigned will not immediately be entitled to the
benefits of Rule 144 with respect to the Units, the Shares, the Warrants and the Warrant Shares.

 

		b.	The Subscriber understands that there are substantial restrictions on the transferability of the
Shares, the Warrants and the Warrant Shares (collectively, the “Securities”) that the certificates representing
the Securities shall bear a restrictive legend in substantially the following form (or in the case of the Warrants, as shown on
the form of Warrant attached hereto) (and a stop-transfer order may be placed against transfer of such certificates or other instruments):

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
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 SECURITIES ACT
AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION
OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE 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 SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS. HEDGING
TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.

 

The legend set
forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Securities upon
which it is stamped, if (a) such Shares are sold pursuant to a registration statement under the Securities Act, or (b) such
holder delivers to the Company an opinion of counsel, reasonably acceptable to the Company, that a disposition of the Securities
is being made pursuant to an exemption from such registration and that the Securities, after such transfer, shall no longer be
“restricted securities” within the meaning of Rule 144.

 

		c.	Each Subscriber understands that prior to the Merger, the Company will be a “shell company”
as defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and that upon the filing of a Current Report on Form 8-K (the “Super 8-K) reporting the consummation of the Merger and the
Transactions and otherwise containing Form 10 information discussed below, the Company will cease to be a shell company. Pursuant
to Rule 144(i), securities issued by a current or former shell company (that is, the Securities) that otherwise meet the holding
period and other requirements of Rule 144 nevertheless cannot be sold in reliance on Rule 144 until one year after the Company
(a) is no longer a shell company; and (b) has filed current “Form 10 information“ (as defined in Rule 144(i)) with
the SEC reflecting that it is no longer a shell company, and provided that at the time of a proposed sale pursuant to Rule 144,
the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act and has filed all reports and other
materials required to be filed by Section 13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months (or for
such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports. As a result,
the restrictive legends on certificates for the Securities cannot be removed except in connection with an actual sale meeting the
foregoing requirements or pursuant to an effective registration statement.

 

    	14

    	 

    

 

		7.	Indemnification. The Subscriber agrees to indemnify and hold harmless the Company, the Placement
Agent and any other broker, agent or finder engaged by the Company for the Offering, and their respective officers, directors,
employees, agents, control persons and affiliates from and against all losses, liabilities, claims, damages, costs, fees and expenses
whatsoever (including, but not limited to, any and all expenses incurred in investigating, preparing or defending against any litigation
commenced or threatened) based upon or arising out of the Subscriber’s actual or alleged false acknowledgment, representation
or warranty, or misrepresentation or omission to state a material fact, or breach by the Subscriber of any covenant or agreement
made by the Subscriber, contained herein or in any other document delivered by the Subscriber in connection with this Agreement.

 

		8.	Revocability; Binding Effect. The subscription hereunder may be revoked prior to the Closing
thereon, provided that written notice of revocation is sent and is received by the Company or either of the Placement Agent at
least two business days prior to the Closing on such subscription. The Subscriber hereby acknowledges and agrees that this Agreement
shall survive the death or disability of the Subscriber and shall be binding upon and inure to the benefit of the parties and their
heirs, executors, administrators, successors, legal representatives and permitted 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 shall be deemed to be made by and be binding upon each such person and such person’s heirs, executors, administrators,
successors, legal representatives and permitted assigns.

 

		9.	Modification. This Agreement shall not be modified or waived except by an instrument in
writing signed by the party against whom any such modification or waiver is sought to be enforced.

 

		10.	Immaterial Modifications to the Registration Rights Agreement and the Voting Agreement.
The Company may, at any time prior to the initial Closing, amend the Registration Rights Agreement and the Voting Agreement if
necessary to clarify any provision therein, without first providing notice or obtaining prior consent of the Subscriber.

 

11.     Notices.
Any notice or other communication required or permitted to be given hereunder shall be in writing and shall be mailed by certified
mail, return receipt requested, or delivered against receipt to the party to whom it is to be given (a) if to the Company, at
the address set forth above, with a copy to Crone Kline Rinde LLP, 488 Madison Ave., 12th
Fl., New York, NY 10022, Attention: Brian S. DiPaolo, Esq., facsimile +1-212-400-6901 and Duane Morris, LLP., 100 High Street,
Suite 2400, Boston, MA 02110-1724, Attention Jonathan Lourie, Esq., facsimile +1-857-401-3089 or (b) if to the Subscriber, at
the address set forth on the Omnibus Signature Page hereof (or, in either case, to such other address as the party shall have
furnished in writing in accordance with the provisions of this Section). Any notice or other communication given by certified
mail shall be deemed given at the time of certification thereof, except for a notice changing a party’s address which shall
be deemed given at the time of receipt thereof.

 

    	15

    	 

    

 

		12.	Assignability. This Agreement and the rights, interests and obligations hereunder are not
transferable or assignable by the Subscriber, and the transfer or assignment of the Units, the Shares, the Warrants or the Warrant
Shares shall be made only in accordance with all applicable laws.

 

		13.	Applicable Law. This Agreement shall be governed by and construed in accordance with the
laws of the State of New York, without reference to the principles thereof relating to the conflict of laws.

 

		14.	Arbitration. The parties agree to submit all controversies to arbitration in accordance
with the provisions set forth below and understand that:

 

		a.	Arbitration shall be final and binding on the parties.

 

		b.	The parties are waiving their right to seek remedies in court, including the right to a jury trial.

 

		c.	Pre-arbitration discovery is generally more limited and different from court proceedings.

 

		d.	The arbitrator’s award is not required to include factual findings or legal reasoning and
any party’s right to appeal or to seek modification of rulings by arbitrators is strictly limited.

 

		e.	The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated
with the securities industry.

 

		f.	All controversies which may arise between the parties concerning this Agreement shall be determined
by arbitration pursuant to the rules then pertaining to the Financial Industry Regulatory Authority in New York City, New York.
Judgment on any award of any such arbitration may be entered in the Supreme Court of the State of New York or in any other court
having jurisdiction of the person or persons against whom such award is rendered. Any notice of such arbitration or for the confirmation
of any award in any arbitration shall be sufficient if given in accordance with the provisions of this Agreement. The parties agree
that the determination of the arbitrators shall be binding and conclusive upon them. The prevailing party, as determined by such
arbitrators, in a legal proceeding shall be entitled to collect any costs, disbursements and reasonable attorney’s fees from
the other party. Prior to filing an arbitration, the parties hereby agree that they will attempt to resolve their differences first
by submitting the matter for resolution to a mediator, acceptable to all parties, and whose expenses will be borne equally by all
parties. The mediation will be held in the County of New York, State of New York, on an expedited basis. If the parties cannot
successfully resolve their differences through mediation, the matter will be resolved by arbitration. The arbitration shall take
place in the County of New York, State of New York, on an expedited basis.

 

    	16

    	 

    

 

		15.	Blue Sky Qualification. The purchase of Units under this Agreement is expressly conditioned
upon the exemption from qualification of the offer and sale of the Units from applicable federal and state securities laws. The
Company shall not be required to qualify this transaction under the securities laws of any jurisdiction and, should qualification
be necessary, the Company shall be released from any and all obligations to maintain its offer, and may rescind any sale contracted,
in the jurisdiction.

 

		16.	Use of Pronouns. All pronouns and any variations thereof used herein shall be deemed to
refer to the masculine, feminine, neuter, singular or plural as the identity of the person or persons referred to may require.

 

		17.	Confidentiality. The Subscriber acknowledges and agrees that any information or data the
Subscriber has acquired from or about the Company or may acquire in the future, not otherwise properly in the public domain, including,
without limitation, the Disclosure Materials, was received in confidence. The Subscriber agrees not to divulge, communicate or
disclose, except as may be required by law or for the performance of this Agreement, or use to the detriment of the Company or
for the benefit of any other person, or misuse in any way, any confidential information of the Company, including any scientific,
technical, trade or business secrets of the Company and any scientific, technical, trade or business materials that are treated
by the Company as confidential or proprietary, including, but not limited to, internal personnel and financial information of the
Company or its affiliates, the manner and methods of conducting the business of the Company or its affiliates and confidential
information obtained by or given to the Company about or belonging to third parties. The Subscriber understands that the Company
may rely on Subscriber’s agreement of confidentiality to comply with the exemptive provisions of Regulation FD under the
Securities Act of 1933 as set forth in Rule 100(a)(b)(2)(ii) of Regulation FD. In addition, the Subscriber acknowledges that it
is aware that the United States securities laws generally prohibit any person who is in possession of material nonpublic information
about a public company such as the Company from purchasing or selling securities of such company. The provisions of this Section
17 are in addition to and not in replacement of any other confidentiality agreement between the Company and the Subscriber.

 

		18.	Anti-Dilution. The Shares shall
                                         have anti-dilution protection such that if within twenty-four (24) months after the final
                                         Closing of the Offering the Company shall issue Additional Shares of Common Stock (as
                                         defined below) without consideration or for a consideration per share, or with an exercise
                                         or conversion price per share, less than the Purchase Price, the Subscriber shall be
                                         entitled to receive from the Company (for no additional consideration) additional Shares
                                         in an amount such that, when added to the number of Shares purchased by Subscriber under
                                         this Agreement, will equal the number of Shares that the Subscriber’s Purchase
                                         Price for the Shares set forth on the Subscriber’s signature page hereof would
                                         have purchased at the Adjusted Price (as defined below). The “Adjusted Price”
                                         shall be a price (calculated to the nearest cent) determined by multiplying the Adjusted
                                         Price per share in effect immediately prior to such issue (which, for avoidance of doubt,
                                         shall be $1.00 prior to the first such issue)1 by a fraction, (A) the
                                         numerator of which shall be (1) the number of shares of Common Stock outstanding immediately
                                         prior to such issue plus (2) the number of shares of Common Stock which the aggregate
                                         consideration received or to be received by the Company for the total number of Additional
                                         Shares of Common Stock so issued would purchase at such Adjusted Price; and (B) the denominator
                                         of which shall be (1) the number of shares of Common Stock outstanding immediately prior
                                         to such issue plus (2) the number of such Additional Shares of Common Stock so issued;
                                         provided that, (i) for the purpose of this Section, all shares of Common Stock
                                         issuable upon conversion or exchange of convertible securities outstanding immediately
                                         prior to such issue shall be deemed to be outstanding, and (ii) the number of shares
                                         of Common Stock deemed issuable upon conversion or exchange of such outstanding convertible
                                         securities shall be determined without giving effect to any adjustments to the conversion
                                         or exchange price or conversion or exchange rate of such convertible securities resulting
                                         from the issuance of Additional Shares of Common Stock that is the subject of this calculation.

 

    	17

    	 

    

 

“Additional
Shares of Common Stock” shall mean all shares of Common Stock issued by the Company after the first Closing of the
Offering (including without limitation any shares of Common Stock issuable upon conversion or exchange of any convertible securities
or upon exercise of any option or warrant, on an as-converted basis), other than: (i) shares of Common Stock issued or issuable
upon conversion or exchange of any convertible securities or exercise of any options or warrants outstanding as of immediately
following the Merger and the initial Closing; (ii) shares of Common Stock issued or issuable upon exercise of the Warrants or
the Placement Agent Warrants; (iii) shares of Common Stock issued or issuable by reason of a dividend, stock split, split-up or
other distribution on shares of Common Stock relating to any recapitalization, reclassification or reorganization of the capital
stock of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially
all of its assets or other transaction effected in such a way that there is no change of control; (iv) shares of Common Stock
issued in a firmly underwritten registered public offering under the Securities Act; (v) shares of Common Stock issued or issuable
pursuant to the acquisition of another entity or business by the Company by merger, purchase of substantially all of the assets
or other reorganization or pursuant to a joint venture or technology license agreement, but not including 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; (vi) shares of Common Stock issued or issuable to officers, directors and employees of, or consultants to,
the Company pursuant to stock grants, option plans, purchase plans or other employee stock incentive programs or arrangements
approved by the Board of Directors, or upon exercise of options or warrants granted to such parties pursuant to any such plan
or arrangement; (vii) any securities issued or issuable by the Company pursuant to the Subscription Agreements; and (viii) securities
issued to financial institutions, institutional investors or lessors in connection with credit arrangements, equipment financings,
lease arrangements or similar transactions, in the aggregate not exceeding ten percent (10%) of the number of shares of Common
Stock outstanding at any time, and in case of clauses (iii) through (viii) above, such issuance is approved by a majority of disinterested
directors of the Company and includes no “death spiral” provision of any kind. 

 

		19.	Miscellaneous.

 

		a.	This Agreement, together with the Registration Rights Agreement, the Voting Agreement the Warrant
and any Confidentiality Agreement, constitute the entire agreement between the Subscriber and the Company with respect to the Offering
and supersede all prior oral or written agreements and understandings, if any, relating to the subject matter hereof. The terms
and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only by a written document executed
by the party entitled to the benefits of such terms or provisions.

 

		b.	The representations and warranties of the Company and the Subscriber made in this Agreement shall
survive the execution and delivery hereof and delivery of the Common Stock and the Warrants contained in the Units
for a period of twelve (12) months following the Closing Date.

 

    	18

    	 

    

 

		c.	Each of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys,
accountants, appraisers or others engaged by such party) in connection with this Agreement and the transactions contemplated hereby,
whether or not the transactions contemplated hereby are consummated.

 

		d.	This Agreement may be executed in one or more original or facsimile counterparts, each of which
shall be deemed an original, but all of which shall together constitute one and the same instrument and which shall be enforceable
against the parties actually executing such counterparts. The exchange of copies of this Agreement and of signature pages by facsimile
transmission or in .pdf format shall constitute effective execution and delivery of this Agreement as to the parties and may be
used in lieu of the original Agreement for all purposes. Signatures of the parties transmitted by facsimile or in pdf format shall
be deemed to be their original signatures for all purposes.

 

		e.	Each provision of this Agreement shall be considered separable and, if for any reason any provision
or provisions hereof are determined to be invalid or contrary to applicable law, such invalidity or illegality shall not impair
the operation of or affect the remaining portions of this Agreement.

 

		f.	Paragraph titles are for descriptive purposes only and shall not control or alter the meaning of
this Agreement as set forth in the text.

 

		g.	The Subscriber understands and acknowledges that there may be multiple Closings for the Offering.

 

		h.	The Subscriber hereby agrees to furnish the Company such other information as the Company may request
prior to the Closing with respect to its subscription hereunder.

 

		20.	Omnibus Signature Page. This Agreement is intended to be read and construed in conjunction
with the Registration Rights Agreement and the Voting Agreement. Accordingly, pursuant to the terms and conditions of this Agreement
the Registration Rights Agreement and the Voting Agreement, it is hereby agreed that the execution by the Subscriber of this Agreement,
in the place set forth on the Omnibus Signature Page below, shall constitute agreement to be bound by the terms and conditions
hereof and the terms and conditions of the Registration Rights Agreement and the Voting Agreement, with the same effect as if each
of such separate but related agreement were separately signed.

 

		21.	Public Disclosure. Neither the Subscriber nor any officer, manager, director, member, partner,
stockholder, employee, affiliate, affiliated person or entity of the Subscriber shall make or issue any press releases or otherwise
make any public statements or make any disclosures to any third person or entity with respect to the transactions contemplated
herein and will not make or issue any press releases or otherwise make any public statements of any nature whatsoever with respect
to the Company without the Company’s express prior approval. The Company has the right to withhold such approval in its sole
discretion.

 

		22.	Potential Conflicts.

 

EDI Financial, Inc., a Placement Agent and/or
their respective affiliates, principals, representatives or employees may now or hereafter own shares of the Company.

 

    	19

    	 

    

 

IN WITNESS WHEREOF, the Company has duly executed this Subscription
Agreement as of the __ day of _______________, 2014.

 

	 	CERULEAN GROUP, INC.  (intended to be renamed

Enumeral Biomedical Holdings, Inc.)
	 	 	 
	 	By: 	 
	 		Name:
	 		Title:               Chief Executive Officer

 

    	20

    	 

    

 

How to subscribe for Units in the private
offering of

Cerulean
Group, Inc.  (intended
to be renamed Enumeral Biomedical Holdings, Inc.):

 

		1.	Date and Fill in the number of Units being purchased and complete and sign the Omnibus
Signature Page.

 

		2.	Initial the Investor Certification in the appropriate place or places.

 

		3.	Complete and sign the Investor Profile.

 

		4.	Complete and sign the Anti-Money Laundering Information Form.

 

		5.	Fax or email all forms and then send all signed original documents to:

 

Crone Kline Rinde LLP 488 Madison Avenue,
12th Floor

New York, NY 10022

Facsimile Number: (212) 400-6901

Telephone Number: (212) 400-6900

Attn: Kathleen L. Rush

E-mail Address: klr@CKRlaw.com

 

		6.	If you are paying the Purchase
                                         Price by check, a certified or other bank check for the exact dollar amount of
                                         the Purchase Price for the number of Units you are purchasing should be made payable
                                         to the order of “U.S. Bank National Association, as Escrow Agent for CERULEAN
                                         GROUP, INC., ACCT #_______” and should be sent directly to [______________________________].

 

		7.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Units you are purchasing according to the following instructions:

 

	Bank:	
        U.S. Bank National Association

        ____________________

        _____________________

	ABA Routing #:	__________
	SWIFT CODE:	__________
	Account Name:	__________________
	Account #:	________________
	Reference:	“__________: Cerulean Group, Inc. Escrow;

[_____] – [insert Subscriber’s name]”
	U.S. Bank Contact:	_____________

 

Thank you for your interest,

 

Cerulean Group, Inc.

 

    	 

    	 

    

 

CERULEAN
GROUP, INC.  (intended
to be renamed Enumeral Biomedical Holdings, Inc.)

OMNIBUS SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT, REGISTRATION RIGHTS
AGREEMENT AND THE VOTING AGREEMENT

 

The undersigned, desiring to: (i) enter into
the Subscription Agreement, dated as of ____________ ___,2 2014 (the “Subscription Agreement”),
between the undersigned, Cerulean Group, Inc., a Nevada corporation (the “Company”),
and the other parties thereto, in or substantially in the form furnished to the undersigned, (ii) enter into each of tthe Registration
Rights Agreement (the “Registration Rights Agreement”) and the Voting Agreement
(the “Voting Agreement”), among the undersigned, the Company and the other parties thereto, in or substantially in
the forms furnished to the undersigned and (iii) purchase the Units of the Company’s securities as set forth in the Subscription
Agreement and below, hereby agrees to purchase such Units from the Company and further agrees to join the Subscription Agreement,
the Registration Rights Agreement and the Voting Agreement as a party thereto, with all the rights and privileges appertaining
thereto, and to be bound in all respects by the terms and conditions thereof. The undersigned specifically acknowledges having
read the representations section in the Subscription Agreement entitled “Representations and Warranties of the Subscriber”
and hereby represents that the statements contained therein are complete and accurate with respect to the undersigned as a Subscriber.

 

IN WITNESS WHEREOF, the Subscriber hereby executes
this Subscription Agreement, the Registration Rights Agreement and the Voting Agreement.

 

Dated: ___________________, 2014

 

	 	 	X	 	$1.00	 	=	$ ______________
	Number of Units	 	 	 	Purchase Price per Unit	 	 	Total Purchase Price

 

	SUBSCRIBER (individual)	 	SUBSCRIBER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name: 	 
	Signature (if Joint Tenants or Tenants in Common)	Title:	 	 
	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number: 
	 	 	 
	 	 	 
	Telephone Number:	 	Telephone Number: 
	 	 	 
	 	 	 
	Facsimile Number:	 	Facsimile Number: 
	 	 	 
	 	 	 
	E-mail Address:	 	E-mail Address: 
	 	 	 
	 	 	 	 	 

 

2 Will reflect the
Closing Date. Not to be completed by Subscriber.

 

    	 

    	 

    

 

CERULEAN
GROUP, INC. (intended
to be renamed Enumeral Biomedical Holdings, Inc.)

ACCREDITED INVESTOR CERTIFICATION

 

For Individual Investors Only

(all Individual Investors must INITIAL
where appropriate):

 

	Initial _______ 	 	I have a net worth of at least US$1 million either individually or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.)
	 	 	 
	Initial _______	 	I have had an annual gross income for the past two years of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 	 
	Initial _______	 	I am a director or executive officer of Enumeral Biomedical Holdings, Inc.

 

For Non-Individual
Investors (Entities)

(all Non-Individual
Investors must INITIAL where appropriate):

 

	Initial _______	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals above as well the remainder of this questionnaire) . 
	 	 	 
	Initial _______	 	The investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose of investing the Company.
	 	 	 
	Initial _______	 	The investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 	 
	Initial _______	 	The investor certifies that it is an employee benefit plan whose total assets exceed US$5,000,000 as of the date of this Agreement.
	 	 	 
	Initial _______	 	The undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.
	 	 	 
	Initial _______	 	The investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.
	 	 	 
	Initial _______	 	The undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.
	 	 	 
	Initial _______	 	The investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 	 
	Initial _______	 	The investor certifies that it is a trust with total assets of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 	 
	Initial _______	 	The investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees, and which has total assets in excess of US$5,000,000.
	 	 	 
	Initial _______	 	The investor certifies that it is an insurance company as defined in §2(13) of the Securities Act of 1933, or a registered investment company.

 

    	 

    	 

    

 

CERULEAN
GROUP, INC.  (intended
to be renamed Enumeral Biomedical Holdings, Inc.)

Investor Profile

(Must be completed by Investor)

 

Section A - Personal Investor Information

 

Investor Name(s): _____________________________________________________________________________________

 

Individual executing Profile or Trustee: ____________________________________________________________________

 

Social Security Numbers / Federal I.D. Number: _____________________________________________________________

 

	Date of Birth:	 	 	Marital Status:  	 	 
	Joint Party Date of Birth: 	 	 	Investment Experience (Years):  	 
	Annual Income:	 	 	Liquid Net Worth:  	 	 
	 	 	 	 	 	 
	Net Worth*:	 	 	 	 	 
	 	 	 	 	 	 
	Tax Bracket:	_____ 15% or below                    _____ 25% - 27.5%                     _____ Over 27.5%

 

Home Street Address: __________________________________________________________________________________

 

Home City, State & Zip Code: ___________________________________________________________________________

 

Home Phone: ______________________   Home Fax: ______________________   Home
Email: _____________________

 

Employer: ___________________________________________________________________________________________

 

Employer Street Address: _______________________________________________________________________________

 

Employer City, State & Zip Code: ________________________________________________________________________

 

Bus. Phone: ________________________   Bus. Fax: ________________________   Bus.
Email: _____________________

 

Type of Business: _____________________________________________________________________________________

 

Outside Broker/Dealer: _________________________________________________________________________________

 

Section B – Certificate Delivery
Instructions

 

____ Please deliver certificate to the Employer Address listed
in Section A.

____ Please deliver certificate to the Home Address listed in Section A.

____ Please deliver certificate to the following address: __________________________________________________________

 

Section C – Form of Payment –
Check or Wire Transfer

 

____ Check payable to U.S. Bank National Association , as Escrow Agent for Cerulean Group, Inc.

____ Wire funds from my outside account according to Section 2(b) of the Subscription Agreement.

____ The funds for this investment are rolled over, tax deferred from __________ within the allowed 60 day window.

 

Please
check if you are a FINRA member or affiliate of a FINRA member firm: ____ 

 

	 	 	 
	Investor Signature	 	Date

 

		*	For purposes of calculating your net worth in this form, (a) your primary residence shall
not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value of your
primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if the amount
of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days before such
time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included as a liability);
and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of your primary residence
at the time of your purchase of the securities shall be included as a liability. 

 

    	 

    	 

    

ANTI MONEY LAUNDERING REQUIREMENTS

 

The USA PATRIOT Act

 

The USA PATRIOT Act is designed to detect,
deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage
firms and financial institutions. Since April 24, 2002 all brokerage firms have been required to have new, comprehensive anti-money
laundering programs.

 

To help you understand these efforts, we want
to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.

 

What is money laundering?

 

Money laundering is the process of disguising
illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection
with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.

 

How big is the problem and why is it important?

 

The use of the U.S. financial system by criminals
to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent
estimate puts the amount of worldwide money laundering activity at $1 trillion a year.

 

What are we required to do to eliminate
money laundering?

 

Under rules required by the USA PATRIOT Act,
our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits,
and establish policies and procedures to detect and report suspicious transaction and ensure compliance with such laws. As part
of our required program, we may ask you to provide various identification documents or other information. Until you provide the
information or documents we need, we may not be able to effect any transactions for you.

 

    	 

    	 

    

ANTI-MONEY
LAUNDERING INFORMATION FORM

The following is required in accordance with
the AML provision of the USA PATRIOT ACT.

(Please fill out and return with requested
documentation.)

 

	INVESTOR NAME:	 	 
	 	 	 
	LEGAL ADDRESS:	 	 
	 	 	 
	 	 	 
	SSN# or TAX ID#	 	 
	 OF INVESTOR: 	 	 
	 	 	 
	YEARLY INCOME: 	 	 
	 	 	 
	NET WORTH:  	 	  *

 

* For purposes of calculating your net worth
in this form, (a) your primary residence shall not be included as an asset; (b) indebtedness secured by your primary residence,
up to the estimated fair market value of your primary residence at the time of your purchase of the securities, shall not be included
as a liability (except that if the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of your primary residence, the amount
of such excess shall be included as a liability); and (c) indebtedness that is secured by your primary residence in excess of the
estimated fair market value of your primary residence at the time of your purchase of the securities shall be included as a liability.

 

INVESTMENT OBJECTIVE(S):  _______________________________________________

 

ADDRESS OF BUSINESS OR OF EMPLOYER: __________________________________

 

_______________________________

 

FOR INVESTORS WHO ARE INDIVIDUALS:
AGE:  _____________________________

 

FOR INVESTORS WHO ARE INDIVIDUALS:
OCCUPATION: _____________________________________

 

FOR INVESTORS WHO ARE ENTITIES: TYPE
OF BUSINESS: ____________________________________

 

IDENTIFICATION & DOCUMENTATION
AND SOURCE OF FUNDS:

 

		1.	Please submit a copy of non-expired identification for the authorized signatory(ies) on the investment
documents, showing name, date of birth, address and signature. The address shown on the identification document MUST match the
Investor’s address shown on the Investor Signature Page.

 

	Current Driver’s License	or	Valid Passport	or	Identity Card

(Circle one or more)

 

		2.	If the Investor is a corporation, limited liability company, trust or other type of entity, please
submit the following requisite documents: (i) Articles of Incorporation, By-Laws, Certificate of Formation, Operating Agreement,
Trust or other similar documents for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document
granting authority to signatory(ies) and designating that they are permitted to make the proposed investment.

 

		3.	Please advise where the funds were derived from to make the proposed investment:

 

	Investments	Savings	Proceeds of Sale	Other ____________

(Circle one or more)

 

	Signature:	 
	 	 	 
	Print Name: 	 
	 	 	 
	Title (if applicable): 	 
	 	 	 
	Date:	 

 

    	 

    	 

    

 

Schedule 4a

 

Subsidiaries

 

    	 

    	 

    

 

Schedule 4c

 

Preemptive Rights; Options and Warrants;
Debt Securities; Registration Rights

 

(i) Preemptive Rights

 

(ii) Options and Warrants

 

(iv) Debt Securities

 

(v) Registration Rights

 

(vii)Anti-Dilution Provisions

 

    	 

    	 

    

 

Schedule 4e

 

Consents

 

    	 

    	 

    

 

Schedule 4k

 

Intellectual Property Rights

 

    	 

    	 

    

 

Schedule 4n

 

Title 

 

    	 

    	 

    

 

Schedule 4r

 

Rights of First Refusal 

 

    	 

    	 

    

 

Schedule 4t

 

Brokers’ Fees

 

    	 

    	 

    

 

EXHIBIT A

 

Form of Warrant

 

    	 

    	 

    

 

EXHIBIT B

 

Form of Registration Rights Agreement

 

    	 

    	 

    

 

EXHIBIT C

 

Form of Voting AgreementRegistration
Rights Agreement

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into effective as of July 31 2014, among Enumeral Biomedical
Holdings, Inc. (formerly known as Cerulean Group, Inc.), a Delaware corporation (the “Company”), the persons
who have executed omnibus or counterpart signature page(s) hereto (each, a “Purchaser” and collectively, the
“Purchasers”) and the persons or entities identified on Schedule 1 hereto holding Placement Agent Warrants (as
defined below) (collectively, the “Brokers”).

 

RECITALS:

 

WHEREAS, the Company
has offered and sold in compliance with Rule 506 of Regulation D promulgated under the Securities Act to accredited investors in
a private placement offering (the “PPO”) its “Units,” each consisting of (i) one share of
the common stock of the Company, par value $0.001 per share (the “Common Stock”) and (ii) a warrant representing
the right to purchase one share of Common Stock, exercisable from issuance until five (5) years after the initial closing of the
PPO at an exercise price of $2.00 per share (the “PPO Warrants”), pursuant to that certain Subscription Agreement
entered into by and between the Company and each of the subscribers for the Units set forth on the signature pages affixed thereto
(the “Subscription Agreement”); and

 

WHEREAS, the Company
has agreed to enter into a registration rights agreement with each of the Purchasers in the PPO who purchased the Units and with
the Brokers who hold Placement Agent Warrants;

 

Now,
Therefore, in consideration of the mutual promises, representations, warranties, covenants, and conditions set forth
herein, the parties mutually agree as follows:

 

1.          Certain
Definitions. As used in this Agreement, the following terms shall have the following respective meanings:

 

“Approved Market”
means the OTC Markets Group, the OTC Bulletin Board, the Nasdaq Stock Market, the New York Stock Exchange or the NYSE Amex.

 

“Blackout Period”
means, with respect to a registration, a period during which the Company, in the good faith judgment of its board of directors,
determines (because of the existence of, or in anticipation of, any acquisition, financing activity, or other transaction involving
the Company, or the unavailability for reasons beyond the Company’s control of any required financial statements, disclosure
of information which is in its best interest not to publicly disclose, or any other event or condition of similar significance
to the Company) that the registration and distribution of the Registrable Securities to be covered by such registration statement,
if any, would be seriously detrimental to the Company and its stockholders, in each case commencing on the day the Company notifies
the Holders that they are required, because of the determination described above, to suspend offers and sales of Registrable Securities
and ending on the earlier of (1) the date upon which the material non-public information resulting in the Blackout Period is disclosed
to the public or ceases to be material and (2) such time as the Company notifies the selling Holders that sales pursuant to such
Registration Statement or a new or amended Registration Statement may resume.

    	 

    	 

    

 

“Business Day”
means any day of the year, other than a Saturday, Sunday, or other day on which banks in the State of New York are required or
authorized to close.

 

“Commission”
means the U. S. Securities and Exchange Commission or any other federal agency at the time administering the Securities Act.

 

“Common Stock”
means the common stock, par value $0.001 per share, of the Company and any and all shares of capital stock or other equity securities
of: (i) the Company which are added to or exchanged or substituted for the Common Stock by reason of the declaration of any stock
dividend or stock split, the issuance of any distribution or the reclassification, readjustment, recapitalization or other such
modification of the capital structure of the Company; and (ii) any other corporation, now or hereafter organized under the laws
of any state or other governmental authority, with which the Company is merged, which results from any consolidation or reorganization
to which the Company is a party, or to which is sold all or substantially all of the shares or assets of the Company, if immediately
after such merger, consolidation, reorganization or sale, the Company or the stockholders of the Company own equity securities
having in the aggregate more than 50% of the total voting power of such other corporation.

 

“Effective Date”
means the date of the final closing of the PPO.

 

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

 

“Family Member”
means (a) with respect to any individual, such individual’s spouse, any descendants (whether natural or adopted), any trust
all of the beneficial interests of which are owned by any of such individuals or by any of such individuals together with any organization
described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, the estate of any such individual, and any corporation,
association, partnership or limited liability company all of the equity interests of which are owned by those above described individuals,
trusts or organizations and (b) with respect to any trust, the owners of the beneficial interests of such trust.

 

“Holder”
means (i) each Purchaser or any of such Purchaser’s respective successors and Permitted Assignees who acquire rights in accordance
with this Agreement with respect to any Registrable Securities directly or indirectly from a Purchaser or from any Permitted Assignee
and (ii) each Broker or any of such Broker’s respective successors and Permitted Assignees who acquire rights in accordance
with this Agreement with respect to any Registrable Securities directly or indirectly from an Broker or from any Permitted Assignee.

 

“Lock-Up Agreements”
means the lock-up agreements entered into by and between the Company and all of its officers, directors and key employees (each
a “Restricted Holder”) pursuant to which such Registered Holders agree to certain restrictions on the sale or
disposition (including pledge) of all of the Common Stock of the Company held by (or issuable to) them.

 

    	2

    	 

    

 

“Majority Holders”
means, at any time, Holders of a majority of the Registrable Securities then outstanding.

 

“Permitted Assignee”
means (a) with respect to a partnership, its partners or former partners in accordance with their partnership interests, (b) with
respect to a corporation, its stockholders in accordance with their interest in the corporation, (c) with respect to a limited
liability company, its members or former members in accordance with their interest in the limited liability company, (d) with respect
to an individual party, any Family Member of such party, (e) an entity that is controlled by, controls, or is under common control
with a transferor, or (f) a party to this Agreement.

 

“Piggyback Registration”
means, in any registration of Common Stock referenced in Section 3(b), the right of each Holder to include the Registrable Securities
of such Holder in such registration.

 

“Placement Agent
Warrants” shall have the meaning set forth in the Subscription Agreement.

 

The terms “register,”
“registered,” and “registration” refer to a registration effected by preparing and filing
a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration
statement.

 

“Registrable Enumeral
Shares” means fifty percent (50%) of the shares of Common Stock issued in the Merger in exchange for Enumeral’s
existing stock that is held by a person (a “Registered Enumeral Stockholder”) who will not initially be party
to a Lock-Up Agreement, provided that if any Registered Enumeral Stockholder purchases Units in the PPO having a purchase price
equal to at least fifty percent (50%) of the total amount invested by such holder in Enumeral stock prior to the PPO, one hundred
percent (100%) of the shares of Common Stock issued in the Merger in exchange for Enumeral’s existing preferred stock held
by such Registered Enumeral Stockholder.

 

“Registrable Securities”
means (a) the Shares, (b) the shares of Common Stock issuable upon exercise of the PPO Warrants, (c) the shares of Common Stock
issuable upon exercise of the Placement Agent Warrants, (d) the True-Up Shares, and (e) the Registrable Enumeral Shares; but, in
each case, excluding any otherwise Registrable Securities that (i) have been sold or otherwise transferred other than to a Permitted
Assignee, (ii) may be sold under the Securities Act without volume limitations either pursuant to Rule 144 of the Securities Act
or otherwise during any ninety (90) day period, or (iii) are at the time subject to an effective registration statement under the
Securities Act.

 

“Registration
Default Period” means the period during which any Registration Event occurs and is continuing.

 

“Registration
Effectiveness Date” means the date that is one hundred and eighty (180) calendar days after the Registration Statement
is first filed with the Commission.

    	3

    	 

    

 

“Registration
Event” means the occurrence of any of the following events:

 

(a)          the
Company fails to file with the Commission the Registration Statement on or before the Registration Filing Date;

 

(b)          the
Registration Statement is not declared effective by the Commission on or before the Registration Effectiveness Date;

 

(c)          after
the SEC Effective Date, the Registration Statement ceases for any reason to remain continuously effective or the Holders are otherwise
not permitted to utilize the prospectus therein to resell the Registrable Securities (including a Blackout Period) for a period
of more than thirty (30) consecutive Trading Days, except as excused pursuant to Section 3(a); or

 

(d)          the
Registrable Securities, if issued, are not listed or included for quotation on an Approved Market, or trading of the Common Stock
is suspended or halted on the Approved Market, which at the time constitutes the principal market for the Common Stock, for more
than three (3) full, consecutive Trading Days; provided, however, a Registration Event shall not be deemed to occur
if all or substantially all trading in equity securities (including the Common Stock) of the Company is suspended or halted on
the Approved Market for any length of time.

 

“Registration
Filing Date” means the date that is ninety (90) calendar days after the Effective Date.

 

“Registration
Statement” means the registration statement that the Company is required to file pursuant to Section 3(a) of this Agreement
to register the Registrable Securities.

 

“Rule 144”
means Rule 144 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

“Rule 145”
means Rule 145 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

“Rule 415”
means Rule 415 promulgated by the Commission under the Securities Act, as such rule may be amended or supplemented from time to
time, or any similar successor rule that may be promulgated by the Commission.

 

“Securities Act”
means the Securities Act of 1933, as amended, or any similar federal statute promulgated in replacement thereof, and the rules
and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

“SEC Effective
Date” means the date the Registration Statement is declared effective by the Commission.

 

“Shares”
means the shares of Common Stock issued to the Purchasers pursuant to the Subscription Agreement and any shares of Common Stock
issued or issuable with respect to such shares upon any stock split, dividend or other distribution, recapitalization or similar
event with respect to the foregoing.

 

    	4

    	 

    

 

“Trading Day”
means any day on which such national securities exchange, the OTC Markets Group or such other securities market or quotation system,
which at the time constitutes the principal securities market for the Common Stock, is open for general trading of securities.

 

“True-Up Shares”
means restricted shares of Common Stock issued to the Pre-Merger Stockholders (as defined below) of the Company, pro rata, in the
event that the aggregate gross proceeds of the PPO exceed the Maximum Offering amount.

 

Capitalized terms used
herein without definition have the meanings ascribed to them in the Subscription Agreement.

 

2.    
      Term. This Agreement shall terminate with respect to each Holder on the
earlier of: (i) the date that is the later of (x) two years from the SEC Effective Date and (y) the
date on which all Registrable Securities held by such Holder are transferred other than to a Permitted Transferee or
may be sold under Rule 144 without volume limitations during any ninety (90) day period; or (ii) the date otherwise
terminated as provided herein.

 

3.    
      Registration.

 

(a)          Registration
on Form S-1. The Company shall file with the Commission a Registration Statement on Form S-1, or any other form for which the
Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the resale
by the Holders of all of the Registrable Securities, and the Company shall (i) use its commercially reasonable efforts to make
the initial filing of the Registration Statement no later than the Registration Filing Date, (ii) use its commercially reasonable
efforts to cause such Registration Statement to be declared effective no later than the Registration Effectiveness Date and (iii)
use its commercially reasonable efforts to keep such Registration Statement effective for a period of twenty-four (24) months or
for such shorter period ending on the earlier to occur of (x) the sale of all Registrable Securities and (y) the availability of
Rule 144 for the Holder to sell all of the Registrable Securities without volume limitations within a 90 day period (the “Effectiveness
Period”); provided, however, that the Company shall not be obligated to effect any such registration, qualification
or compliance pursuant to this Section, or keep such registration effective pursuant to the terms hereunder, in any particular
jurisdiction in which the Company would be required to qualify to do business as a foreign corporation or as a dealer in securities
under the securities laws of such jurisdiction or to execute a general consent to service of process in effecting such registration,
qualification or compliance, in each case where it has not already done so. Notwithstanding the foregoing, in the event that the
staff (the “Staff”) of the Commission should limit the number of Registrable Securities that may be sold pursuant
to the Registration Statement, the Company may remove from the Registration Statement such number of Registrable Securities as
specified by the Commission on behalf of all of the holders of Registrable Securities first (i) from the shares of Common Stock
issuable upon exercise of the Placement Agent Warrants, on a pro-rata basis, and second (ii) from the True-Up Shares, on a pro-rata
basis, and third (iii) from Registrable Enumeral Shares held by Registered Enumeral Stockholders who did not purchase Units in
the PPO having a purchase price equal to at least fifty percent (50%) of the total amount invested by such holders in Enumeral
stock prior to the PPO, on a pro-rata basis, and fourth (iv) from Registrable Enumeral Shares held by Registered Enumeral Stockholders
who purchased Units in the PPO having a purchase price equal to at least fifty percent (50%) of the total amount invested by such
holders in Enumeral stock prior to the PPO, and (v) after all Registrable Enumeral Shares have been removed from the Registration
Statement, from the other Registrable Securities on a pro rata basis among such holders, on a pro-rata basis. In such event, the
Company shall give the Purchasers prompt notice of the number of Registrable Securities excluded therefrom. No liquidated damages
shall accrue or be payable to any Holder pursuant to Section 3(d) with respect to any Registrable Securities that are excluded
by reason of the foregoing sentence. In addition, during the twelve (12) month period following the effective date of the Merger,
the Company shall not register, nor shall it take any action to facilitate registration, under the Securities Act, the shares of
the Common Stock of the Company issued pursuant to the Merger to the Restricted Holders and/or Registered Enumeral Stockholders.
The above restriction shall not prohibit the Company from a registration relating solely to employee benefit plans or securities
issued or issuable to employees, consultants (to the extent the securities owned or to be owned by such consultants could be registered
on Form S-8 (or its then equivalent form) or any of their Family Members (including a registration on Form S-8 (or its then equivalent
form)), or a registration on Form S-4 (or its then equivalent form) in connection with a merger, acquisition, divestiture, reorganization
or similar event.

 

    	5

    	 

    

 

(b)          Piggyback
Registration. If, after the SEC Effective Date, the Company shall determine to register for sale for cash any of its Common
Stock, for its own account or for the account of others (other than the Holders), other than (i) a registration relating solely
to employee benefit plans or securities issued or issuable to employees, consultants (to the extent the securities owned or to
be owned by such consultants could be registered on Form S-8 (or its then equivalent form) or any of their Family Members (including
a registration on Form S-8 (or its then equivalent form)), (ii) a registration relating solely to a Securities Act Rule 145 transaction
or a registration on Form S-4 (or its then equivalent form) in connection with a merger, acquisition, divestiture, reorganization
or similar event, or (iii) a transaction relating solely to the sale of debt or convertible debt instruments, then the Company
shall promptly give to each Holder written notice thereof (the “Registration Rights Notice”) (and in no event
shall such notice be given less than twenty (20) calendar days prior to the filing of such registration statement), and shall,
subject to Section 3(c), include as a Piggyback Registration all of the Registrable Securities (including any Registrable Securities
that are removed from the Registration Statement as a result of a requirement by the Staff) specified in a written request delivered
by the Holder thereof within ten (10) calendar days after delivery to the Holder of such written notice from the Company. However,
the Company may, without the consent of such Holders, withdraw such registration statement prior to its becoming effective if the
Company or such other selling stockholders have elected to abandon the proposal to register the securities proposed to be registered
thereby. The right contained in this paragraph may be exercised by each Holder only with respect to two (2) qualifying registrations.
The Holders acknowledge and agree that the stockholders of the Company prior to the consummation of the Merger and PPO (the “Pre-Merger
Stockholders”) (but, for avoidance of doubt, not holders of the shares issued to the stockholders of Enumeral in consideration
for the Merger) shall have “piggyback” registration rights identical to the foregoing for inclusion in any such registration
together with the Holders.

 

    	6

    	 

    

 

(c)          Underwriting.
For purposes of this subsection (c) only, the term “Holders” shall include the Pre-Merger Stockholders. If a Piggyback
Registration is for a registered public offering that is to be made by an underwriting, the Company shall so advise the Holders
as part of the Registration Rights Notice. In that event, the right of any Holder to Piggyback Registration shall be conditioned
upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in
the underwriting to the extent provided herein. All Holders proposing to sell any of their Registrable Securities through such
underwriting shall (together with the Company and any other stockholders of the Company selling their securities through such underwriting)
enter into an underwriting agreement in customary form with the underwriter selected for such underwriting by the Company or such
other selling stockholders, as applicable. Notwithstanding any other provision of this Section 3(c), if the underwriter or the
Company determines that marketing factors require a limitation on the number of shares of Common Stock or the amount of other securities
to be underwritten, the underwriter may exclude some or all Registrable Securities from such registration and underwriting. The
Company shall so advise all Holders (except those Holders who failed to timely elect to include their Registrable Securities through
such underwriting or have indicated to the Company their decision not to do so), and indicate to each such Holder the number of
shares of Registrable Securities that may be included in the registration and underwriting, if any. The number of shares of Registrable
Securities to be included in such registration and underwriting shall be allocated among such Holders as follows:

 

(i)          If
the Piggyback Registration was initiated by the Company, the number of shares that may be included in the registration and underwriting
shall be allocated first to the Company and then, subject to obligations and commitments existing as of the date hereof, to all
persons exercising piggyback registration rights (including the Holders) who have requested to sell in the registration on a pro
rata basis according to the number of shares requested to be included therein; and

 

(ii)         If
the Piggyback Registration was initiated by the exercise of demand registration rights by a stockholder or stockholders of the
Company, then the number of shares that may be included in the registration and underwriting shall be allocated first to such selling
stockholders who exercised such demand to the extent of their demand registration rights, and then, subject to obligations and
commitments existing as of the date hereof, to the Company and then, subject to obligations and commitments existing as of the
date hereof, to all persons exercising piggyback registration rights (including the Holders) who have requested to sell in the
registration on a pro rata basis according to the number of shares requested to be included therein.

 

No Registrable Securities
excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration.
If any Holder disapproves of the terms of any such underwriting, such Holder may elect to withdraw such Holder’s Registrable
Securities therefrom by delivering a written notice to the Company and the underwriter. The Registrable Securities so withdrawn
from such underwriting shall also be withdrawn from such registration; provided, however, that, if by the withdrawal
of such Registrable Securities, a greater number of Registrable Securities held by other Holders may be included in such registration
(up to the maximum of any limitation imposed by the underwriters), then the Company shall offer to all Holders who have included
Registrable Securities in the registration the right to include additional Registrable Securities pursuant to the terms and limitations
set forth herein in the same proportion used above in determining the underwriter limitation.

 

    	7

    	 

    

 

(d)          Liquidated
Damages. If a Registration Event occurs, then the Company will make payments to each Holder of Registrable Securities identified
in clause (a) or (b) of the definition of Registrable Securities, as liquidated damages to such Holder by reason of the Registration
Event, a cash sum equal to one percent (1%) of the aggregate purchase price paid by such Holder pursuant to Subscription Agreement
with respect to such Holder’s Registrable Securities which are affected by such Registration Event, for each full thirty
(30) days during which such Registration Event continues to affect such Registrable Securities (which shall be pro-rated for any
period less than 30 days). Notwithstanding the foregoing, the maximum amount of liquidated damages that may be paid by the Company
pursuant to this Section 3(d) shall be an amount equal to eight percent (8%) of the aggregate purchase price paid by a Holder pursuant
to the Subscription Agreement with respect to such Holder’s Registrable Securities that are affected by all Registration
Events in the aggregate. Each payment of liquidated damages pursuant to this Section 3(d) shall be due and payable in arrears within
five (5) days after the end of each full 30-day period of the Registration Default Period until the termination of the Registration
Default Period and within five (5) days after such termination. Such payments shall constitute the Holder’s exclusive remedy
for any Registration Event. The Registration Default Period shall terminate upon the earlier of such time as the Registrable Securities
that are affected by the Registration Event cease to be Registrable Securities or (i) the filing of the Registration Statement
in the case of clause (a) of the definition of Registration Event, (ii) the SEC Effective Date in the case of clause (b) of the
definition of Registration Event, (iii) the ability of the Holders to effect sales pursuant to the Registration Statement in the
case of clause (c) of the definition of Registration Event, and (iv) the listing or inclusion and/or trading of the Common Stock
on an Approved Market, as the case may be, in the case of clause (d) of the definition of Registration Event. The amounts payable
as liquidated damages pursuant to this Section 3(d) shall be payable in lawful money of the United States. Notwithstanding the
foregoing, the Company will not be liable for the payment of liquidated damages described in this Section 3(d) for any delay in
registration of Registrable Securities that would otherwise be includable in the Registration Statement pursuant to Rule 415 solely
as a result of a comment received by the Staff requiring a limit on the number of Registrable Securities included in such Registration
Statement in order for such Registration Statement to be able to avail itself of Rule 415. In the event of any such delay, the
Company will use its commercially reasonable efforts at the first opportunity that is permitted by the Commission to register for
resale the Registrable Securities that have been cut back from being registered pursuant to Rule 415 only with respect to that
portion of the Holders’ Registrable Securities that are then Registrable Securities.

 

(e)          Notwithstanding
the provisions of Section 3(d) above, if (i) the Commission does not declare the Registration Statement effective on or before
the Registration Effectiveness Date, or (ii) the Commission allows the Registration Statement to be declared effective at any time
before or after the Registration Effectiveness Date, subject to the withdrawal of certain Registrable Securities from the Registration
Statement, and the reason for (i) or (ii) is the Commission’s determination that (x) the offering of any of the Registrable
Securities constitutes a primary offering of securities by the Company, (y) Rule 415 may not be relied upon for the registration
of the resale of any or all of the Registrable Securities, and/or (z) a Holder of any Registrable Securities must be named as an
underwriter, the Holders understand and agree that in the case of (ii) the Company may (notwithstanding anything to the contrary
contained herein) reduce, on a pro rata basis, the total number of Registrable Securities to be registered on behalf of each such
Holder, and in the case of (i) or (ii) the Holder shall not be entitled to liquidated damages with respect to the Registrable Securities
not registered for the reason set forth in (i) or so reduced on a pro rata basis as set forth above.

 

    	8

    	 

    

 

4.  
        Registration Procedures. The Company will keep each Holder
reasonably advised as to the filing and effectiveness of the Registration Statement. At its expense with respect to the
Registration Statement, the Company will:

 

(a)          prepare
and file with the Commission with respect to the Registrable Securities, a Registration Statement in accordance with Section 3(a)
hereof, and use its commercially reasonable efforts to cause such Registration Statement to become effective and to remain effective
for the Effectiveness Period;

 

(b)          if
the Registration Statement is subject to review by the Commission, promptly respond to all comments and diligently pursue resolution
of any comments to the satisfaction of the Commission;

 

(c)          prepare
and file with the Commission such amendments and supplements to such Registration Statement as may be necessary to keep such Registration
Statement effective during the Effectiveness Period;

 

(d)          furnish,
without charge, to each Holder of Registrable Securities covered by such Registration Statement (i) a reasonable number of copies
of such Registration Statement (including any exhibits thereto other than exhibits incorporated by reference), each amendment and
supplement thereto as such Holder may reasonably request, (ii) such number of copies of the prospectus included in such Registration
Statement (including each preliminary prospectus and any other prospectus filed under Rule 424 of the Securities Act) as such Holders
may reasonably request, in conformity with the requirements of the Securities Act, and (iii) such other documents as such Holder
may reasonably require to consummate the disposition of the Registrable Securities owned by such Holder, but only during the Effectiveness
Period;

 

(e)          use
its commercially reasonable efforts to register or qualify such registration under such other applicable securities laws of such
jurisdictions within the United States as any Holder of Registrable Securities covered by such Registration Statement reasonably
requests and as may be necessary for the marketability of the Registrable Securities (such request to be made by the time the applicable
Registration Statement is deemed effective by the Commission) and do any and all other acts and things necessary to enable such
Holder to consummate the disposition in such jurisdictions of the Registrable Securities owned by such Holder; provided,
that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise
be required to qualify but for this paragraph, (ii) subject itself to taxation in any such jurisdiction, or (iii) consent to general
service of process in any such jurisdiction.

 

    	9

    	 

    

 

(f)          as
promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities, the disposition of which
requires delivery of a prospectus relating thereto under the Securities Act, of the happening of any event, which comes to the
Company’s attention, that will after the occurrence of such event cause the prospectus included in such Registration Statement,
if not amended or supplemented, to contain an untrue statement of a material fact or an omission to state a material fact required
to be stated therein or necessary to make the statements therein not misleading and the Company shall promptly thereafter prepare
and furnish to such Holder a supplement or amendment to such prospectus (or prepare and file appropriate reports under the Exchange
Act) so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an 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, unless suspension of the use of such prospectus otherwise is authorized herein or in the event of a Blackout
Period, in which case no supplement or amendment need be furnished (or Exchange Act filing made) until the termination of such
suspension or Blackout Period;

 

(g)          comply,
and continue to comply during the Effectiveness Period, in all material respects with the Securities Act and the Exchange Act and
with all applicable rules and regulations of the Commission with respect to the disposition of all securities covered by such Registration
Statement;

 

(h)          as
promptly as practicable after becoming aware of such event, notify each Holder of Registrable Securities being offered or sold
pursuant to the Registration Statement of the issuance by the Commission of any stop order or other suspension of effectiveness
of the Registration Statement;

 

(i)          use
its commercially reasonable efforts to cause all the Registrable Securities covered by the Registration Statement to be quoted
on the OTC Markets Group or such other principal securities market or quotation system on which securities of the same class or
series issued by the Company are then listed or traded or quoted;

 

(j)          provide
a transfer agent and registrar, which may be a single entity, for the shares of Common Stock at all times;

 

(k)          cooperate
with the Holders of Registrable Securities being offered pursuant to the Registration Statement to issue and deliver, or cause
its transfer agent to issue and deliver, certificates representing Registrable Securities to be offered pursuant to the Registration
Statement within a reasonable time after the delivery of certificates representing the Registrable Securities to the transfer agent
or the Company, as applicable, and enable such certificates to be in such denominations or amounts as the Holders may reasonably
request and registered in such names as the Holders may request;

 

(l)          during
the Effectiveness Period, refrain from bidding for or purchasing any Common Stock or any right to purchase Common Stock or attempting
to induce any person to purchase any such security or right if such bid, purchase or attempt would in any way limit the right of
the Holders to sell Registrable Securities by reason of the limitations set forth in Regulation M of the Exchange Act; and

    	10

    	 

    

 

(m)         take
all other commercially reasonable actions necessary to expedite and facilitate the disposition by the Holders of the Registrable
Securities pursuant to the Registration Statement during the term of this Agreement.

 

5.      
    Obligations of the Holders.

 

(a)          Each
Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section
4(f) hereof or of the commencement of a Blackout Period, such Holder shall discontinue the disposition of Registrable Securities
included in the Registration Statement until such Holder’s receipt of the copies of the supplemented or amended prospectus
contemplated by Section 4(f) hereof or notice of the end of the Blackout Period, and, if so directed by the Company, such Holder
shall deliver to the Company (at the Company’s expense) all copies (including, without limitation, any and all drafts), other
than permanent file copies, then in such Holder’s possession, of the prospectus covering such Registrable Securities current
at the time of receipt of such notice.

 

(b)          The
holders of the Registrable Securities shall provide such information as may reasonably be requested by the Company, or the managing
underwriter, if any, in connection with the preparation of any registration statement, including amendments and supplements thereto,
in order to effect the registration of any Registrable Securities under the Securities Act pursuant to Section 3(a) and/or 3(b)
of this Agreement and in connection with the Company’s obligation to comply with federal and applicable state securities
laws, including a completed questionnaire in the form attached to this Agreement as Annex A (a “Selling Securityholder
Questionnaire”) or any update thereto not later than three (3) Business Days following a request therefore from the Company.

 

(c)          Each
Holder, by its acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably requested by the Company
in connection with the preparation and filing of any Registration Statement hereunder, unless such Holder has notified the Company
in writing of its election to exclude all of its Registrable Securities from such Registration Statement.

 

6.          Registration
Expenses. The Company shall pay all expenses in connection with any registration obligation provided herein, including, without
limitation, all registration, filing, stock exchange fees, printing expenses, all fees and expenses of complying with applicable
securities laws, and the fees and disbursements of counsel for the Company and of its independent accountants; provided,
that, in any underwritten registration, the Company shall have no obligation to pay any underwriting discounts, selling commissions
or transfer taxes attributable to the Registrable Securities being sold by the Holders thereof, which underwriting discounts, selling
commissions and transfer taxes shall be borne by such Holders. Additionally, in an underwritten offering, all selling stockholders
and the Company shall bear the expenses of the underwriter pro rata in proportion to the respective amount of shares each is selling
in such offering. Except as provided in this Section 6 and Section 8 of this Agreement, the Company shall not be responsible for
the expenses of any attorney or other advisor employed by a Holder.

 

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7.     
     Assignment of Rights. No Holder may assign its rights under this Agreement to any
party without the prior written consent of the Company; provided, however, that any Holder may assign its
rights under this Agreement without such consent to a Permitted Assignee as long as (a) such transfer or assignment is
effected in accordance with applicable securities laws; (b) such transferee or assignee agrees in writing to become bound by
and subject to the terms of this Agreement; and (c) such Holder notifies the Company in writing of such transfer or
assignment, stating the name and address of the transferee or assignee and identifying the Registrable Securities with
respect to which such rights are being transferred or assigned. The Company may assign this Agreement or any rights or
obligations hereunder without the prior written consent of the other party hereto.

 

8.       
   Indemnification.

 

(a)          In
the event of the offer and sale of Registrable Securities under the Securities Act, the Company shall, and hereby does, indemnify
and hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, partners, and each other person,
if any, who controls or is under common control with such Holder within the meaning of Section 15 of the Securities Act, against
any losses, claims, damages or liabilities, joint or several, and expenses to which the Holder or any such director, officer, partner
or controlling person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages, liabilities
or expenses (or actions or proceedings, whether commenced or threatened, in respect thereof) arise out of or are based upon any
untrue statement of any material fact contained in any registration statement prepared and filed by the Company under which Registrable
Securities were registered under the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained
therein, or any amendment or supplement thereto, or any omission to state therein a material fact required to be stated or necessary
to make the statements therein in light of the circumstances in which they were made not misleading, and the Company shall reimburse
the Holder, and each such director, officer, partner and controlling person for any legal or any other expenses reasonably incurred
by them in connection with investigating, defending or settling any such loss, claim, damage, liability, action or proceeding;
provided, however, that such indemnity agreement found in this Section 8(a) shall in no event exceed the net proceeds
from the PPO received by the Company; and provided further, that the Company shall not be liable in any such case (i) to
the extent that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or expense arises out of or
is based upon (x) an untrue statement in or omission from such registration statement, any such preliminary prospectus, final prospectus,
summary prospectus, amendment or supplement in reliance upon and in conformity with written information furnished by a Holder to
the Company for use in the preparation thereof or (y) the failure of a Holder to comply with the covenants and agreements contained
in Section 5 hereof respecting the sale of Registrable Securities; or (ii) if the person asserting any such loss, claim, damage,
liability (or action or proceeding in respect thereof) who purchased the Registrable Securities that are the subject thereof did
not receive a copy of an amended preliminary prospectus or the final prospectus (or the final prospectus as amended or supplemented)
at or prior to the written confirmation of the sale of such Registrable Securities to such person because of the failure of such
Holder to so provide such amended preliminary or final prospectus and the untrue statement or omission of a material fact made
in such preliminary prospectus was corrected in the amended preliminary or final prospectus (or the final prospectus as amended
or supplemented). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of
the Holders, or any such director, officer, partner or controlling person and shall survive the transfer of such shares by the
Holder.

 

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(b)          As
a condition to including Registrable Securities in any registration statement filed pursuant to this Agreement, each Holder agrees
to be bound by the terms of this Section 8 and to indemnify and hold harmless, to the fullest extent permitted by law, the Company,
each of its directors, officers, partners, legal counsel and accountants and each underwriter, if any, and each other person, if
any, who controls the Company within the meaning of Section 15 of the Securities Act, against any losses, claims, damages or liabilities,
joint or several, to which the Company or any such director or officer or controlling person may become subject under the Securities
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings, whether commenced or threatened,
in respect thereof) arise out of or are based upon any untrue statement of a material fact or any omission of a material fact required
to be stated in any registration statement, any preliminary prospectus, final prospectus, summary prospectus, amendment or supplement
thereto or necessary to make the statements therein not misleading, to the extent that such untrue statement or omission is included
or omitted in reliance upon and in conformity with written information furnished by the Holder to the Company for use in the preparation
thereof, and such Holder shall reimburse the Company, and such Holders, directors, officers, partners, legal counsel and accountants,
persons, underwriters, or control persons, each such director, officer, and controlling person for any legal or other expenses
reasonably incurred by them in connection with investigating, defending, or settling any such loss, claim, damage, liability, action,
or proceeding; provided, however, that indemnity obligation contained in this Section 8(b) shall in no event exceed
the amount of the net proceeds received by such Holder as a result of the sale of such Holder’s Registrable Securities pursuant
to such registration statement, except in the case of fraud or willful misconduct. Such indemnity shall remain in full force and
effect, regardless of any investigation made by or on behalf of the Company or any such director, officer or controlling person
and shall survive the transfer by any Holder of such shares.

 

(c)          Promptly
after receipt by an indemnified party of notice of the commencement of any action or proceeding involving a claim referred to in
this Section 8 (including any governmental action), such indemnified party shall, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the indemnifying party of the commencement of such action; provided, that
the failure of any indemnified party to give notice as provided herein shall not relieve the indemnifying party of its obligations
under this Section, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In
case any such action is brought against an indemnified party, unless in the reasonable judgment of counsel to such indemnified
party a conflict of interest between such indemnified and indemnifying parties may exist or the indemnified party may have defenses
not available to the indemnifying party in respect of such claim, the indemnifying party shall be entitled to participate in and
to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party and, after notice from the indemnifying
party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof,
unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties
arises in respect of such claim after the assumption of the defenses thereof or the indemnifying party fails to defend such claim
in a diligent manner, other than reasonable costs of investigation. Neither an indemnified nor an indemnifying party shall be liable
for any settlement of any action or proceeding effected without its consent. No indemnifying party shall, without the consent of
the indemnified party, consent to entry of any judgment or enter into any settlement, which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect of such
claim or litigation. Notwithstanding anything to the contrary set forth herein, and without limiting any of the rights set forth
above, in any event any party shall have the right to retain, at its own expense, counsel with respect to the defense of a claim.
Each indemnified party shall furnish such information regarding itself or the claim in question as an indemnifying party may reasonably
request in writing and as shall be reasonably required in connection with defense of such claim and litigation resulting therefrom.

 

    	13

    	 

    

 

(d)          If
an indemnifying party does not or is not permitted to assume the defense of an action pursuant to Sections 8(c) or in the case
of the expense reimbursement obligation set forth in Sections 8(a) and 8(b), the indemnification required by Sections 8(a) and
8(b) shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills
are received or expenses, losses, damages, or liabilities are incurred.

 

(e)          If
the indemnification provided for in Section 8(a) or 8(b) is held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, liability, claim, damage or expense referred to herein, the indemnifying party, in lieu of indemnifying
such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a result of such
loss, liability, claim, damage or expense (i) in such proportion as is appropriate to reflect the proportionate relative fault
of the indemnifying party on the one hand and the indemnified party on the other (determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission relates to information supplied by the indemnifying
party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such untrue statement or omission), or (ii) if the allocation provided by clause (i) above is not permitted by applicable
law or provides a lesser sum to the indemnified party than the amount hereinafter calculated, then in such proportion as is appropriate
to reflect not only the proportionate relative fault of the indemnifying party and the indemnified party, but also the relative
benefits received by the indemnifying party on the one hand and the indemnified party on the other, as well as any other relevant
equitable considerations. No indemnified party guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any indemnifying party who was not guilty of such fraudulent misrepresentation.

 

(f)          Notwithstanding
the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered
into in connection with an underwritten public offering are in conflict with the foregoing
provisions, the provisions in the underwriting agreement shall control.

 

(g)          Other
Indemnification. Indemnification similar to that specified in this Section (with appropriate modifications) shall be given
by the Company and each Holder of Registrable Securities with respect to any required registration or other qualification of securities
under any federal or state law or regulation or governmental authority other than the Securities Act.

 

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9.      
    Rule 144. The Company shall file with the Commission “Form 10 information”
(as defined in Rule 144(i)(3) under the Securities Act) reflecting its status as an entity that is no longer an issuer
described in Rule 144(i)(1)(i) promptly following the closing of the Merger. For a period of at least twelve (12) months
following the Effective Date, the Company will use its commercially reasonable efforts to timely file all reports required to
be filed by the Company after the date hereof under the Exchange Act and the rules and regulations adopted by the Commission
thereunder, and if the Company is not required to file reports pursuant to such sections, it will prepare and furnish to the
Purchasers and make publicly available in accordance with Rule 144(c) such information as is required for the Purchasers to
sell shares of Common Stock under Rule 144.

 

10.         Independent Nature of Each Purchaser’s Obligations and Rights. The obligations of
each Purchaser and each Broker under this Agreement are several and not joint with the obligations of any other Purchaser or
Broker, and each Purchaser and each Broker shall not be responsible in any way for the performance of the obligations of any
other Purchaser or any Broker under this Agreement. Nothing contained herein and no action taken by any Purchaser or Broker
pursuant hereto, shall be deemed to constitute such Purchasers and/or Brokers as a partnership, an association, a joint
venture, or any other kind of entity, or create a presumption that the Purchasers and/or Brokers are in any way acting in
concert or as a group with respect to such obligations or the transactions contemplated by this Agreement. Each Purchaser and
each Broker shall be entitled to independently protect and enforce its rights, including without limitation the rights
arising out of this Agreement, and it shall not be necessary for any other Purchaser or Broker to be joined as an additional
party in any proceeding for such purpose.

 

11.   
     Miscellaneous.

 

(a)          Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the United States of America and the
State of New York, both substantive and remedial, without regard to New York conflicts of law principles. Any judicial proceeding
brought against either of the parties to this Agreement or any dispute arising out of this Agreement or any matter related hereto
shall be brought in the courts of the State of New York, New York County, or in the United States District Court for the Southern
District of New York and, by its execution and delivery of this Agreement, each party to this Agreement accepts the jurisdiction
of such courts. The foregoing consent to jurisdiction shall not be deemed to confer rights on any person other than the parties
to this Agreement.

 

(b)          Remedies.
Except as otherwise specifically set forth herein with respect to a Registration Event, in the event of a breach by the Company
or by a Holder of any of their respective obligations under this Agreement, each Holder or the Company, as the case may be, in
addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages, shall
be entitled to specific performance of its rights under this Agreement. Except as otherwise specifically set forth herein with
respect to a Registration Event, the Company and each Holder agree that monetary damages would not provide adequate compensation
for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agrees that,
in the event of any action for specific performance in respect of such breach, it shall not assert or shall waive the defense that
a remedy at law would be adequate.

 

    	15

    	 

    

 

(c)          Successors
and Assigns. Except as otherwise provided herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, Permitted Assignees, executors and administrators of the parties hereto.

 

(d)          No
Inconsistent Agreements. The Company has not entered, as of the date hereof, and shall not enter, on or after the date of this
Agreement, into any agreement with respect to its securities that would have the effect of impairing the rights granted to the
Holders in this Agreement or otherwise conflicts with the provisions hereof.

 

(e)          Entire
Agreement. This Agreement and the documents, instruments and other agreements specifically referred to herein or delivered
pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof.

 

(f)          Notices,
etc. All notices, consents, waivers, and other communications which are required or permitted under this Agreement shall be
in writing will be deemed given to a party (a) on the date of delivery, if delivered to the appropriate address by hand or by nationally
recognized overnight courier service (costs prepaid); (b) the date of transmission if sent by facsimile or e-mail with confirmation
of transmission by the transmitting equipment if such notice or communication is delivered prior to 5:00 P.M., New York City time,
on a Trading Day, or the next Trading Day after the date of transmission, if such notice or communication is delivered on a day
that is not a Trading Day or later than 5:00 P.M., New York City time, on any Trading Day; (c) the date received or rejected by
the addressee, if sent by certified mail, return receipt requested; or (d) seven days after the placement of the notice into the
mails (first class postage prepaid), to the party at the address, facsimile number, or e-mail address furnished by the such party,

 

If to the Company, to:

 

Enumeral Biomedical Holdings, Inc.

One Kendall Square

Building 400, 4th Floor

Cambridge, Massachusetts 02139

Attn: Chief Executive Officer

Telephone Number: (617) 674-1865

E-mail Address: arthur@enumeral.com

 

with copy to:

 

Duane Morris, LLP.

100 High Street, Suite 2400

Boston, MA 02110-1724

Attention Jonathan Lourie, Esq.

Facsimile: 857-401-3089

Telephone Number: 857-488-4260

E-mail Address:
JLourie@duanemorris.com

 

    	16

    	 

    

 

if to a Purchaser or Broker, to:

 

such Purchaser or Broker at the address
set forth on the signature page hereto;

 

or at such other address as any party shall have furnished to the
other parties in writing in accordance with this Section 11(f).

 

(g)          Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing to any Holder, upon any breach or default
of the Company under this Agreement, shall impair any such right, power or remedy of such Holder nor shall it be construed to be
a waiver of any such breach or default, or an acquiescence therein, or of any similar breach or default thereunder occurring; nor
shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.
Any waiver, permit, consent or approval of any kind or character on the part of any Holder of any breach or default under this
Agreement, or any waiver on the part of any Holder of any provisions or conditions of this Agreement, must be in writing and shall
be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, or by law or
otherwise afforded to any holder, shall be cumulative and not alternative.

 

(h)          Counterparts.
This Agreement may be executed in any number of counterparts, and with respect to any Purchaser, by execution of an Omnibus Signature
Page to this Agreement and the Subscription Agreement, each of which shall be enforceable against the parties actually executing
such counterparts, and all of which together shall constitute one instrument. In the event that any signature is delivered by facsimile
transmission or by e-mail, such signature shall create a valid and binding obligation of the party executing (or on whose behalf
such signature is executed) with the same force and effect as if such facsimile signature page were an original thereof.

 

(i)          Severability.
In the case any provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby.

 

(j)          Amendments.
Except as otherwise provided herein, the provisions of this Agreement may be amended at any time and from time to time, and particular
provisions of this Agreement may be waived, with and only with an agreement or consent in writing signed by the Company and the
Majority Holders. The Purchasers and Brokers acknowledge that by the operation of this Section, the Majority Holders may have the
right and power to diminish or eliminate all rights of the Purchasers and/or Brokers under this Agreement.

 

[COMPANY SIGNATURE PAGE
FOLLOWS]

 

    	17

    	 

    

This Registration Rights
Agreement is hereby executed as of the date first above written.

 

	 	The Company:
	 	 
	 	ENUMERAL BIOMEDICAL HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 
	 	Purchasers
	 	 
	 	See Omnibus Signature Pages to Subscription Agreement
	 	 
	 	Brokers:
	 	 
	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:
	 	 	 
	 	 
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

 

    	18

    	 

    

Annex A

 

ENUMERAL BIOMEDICAL HOLDINGS, INC.

 

Selling Securityholder Notice and Questionnaire

 

The
undersigned beneficial owner of Registrable Securities of Enumeral Biomedical Holdings, Inc. (formerly known as Cerulean
Group, Inc.), a Delaware corporation (the “Company”), understands that the
Company has filed or intends to file with the U.S. Securities and Exchange Commission a registration statement (the “Registration
Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended, of the Registrable
Securities, in accordance with the terms of the Registration Rights Agreement (the “Registration Rights Agreement”)
to which this document is annexed. A copy of the Registration Rights Agreement is available from the Company upon request at the
address set forth below. All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration
Rights Agreement.

 

Certain legal consequences
arise from being named as a selling security holder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling security holder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

 

The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

1. Name:

 

	 	(a)	Full Legal Name of Selling Securityholder
	 	 	 
	 	 	 
	 	 	 
	 	(b)	Full Legal Name of Registered Holder (holder of record) (if not the same as (a) above) through which Registrable Securities are held:
	 	 	 
	 	 	 
	 	 	 
	 	(c)	If you are not a natural person, full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities covered by this Questionnaire):
	 	 	 
	 	 	 

 

    	 

    	 

    

  

2. Address for Notices to Selling
Securityholder:

	 
	 
	 

	Telephone: 	 	 	Fax: 	 

	Email:	 	 
	Contact Person: 	 

 

3. Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

	Yes   ̈	No   ̈

 

		(b)	If “yes” to Section 3(a), did you receive your Registrable Securities as compensation
for investment banking services to the Company?

 

	Yes   ̈	No   ̈

 

		Note:	If “no” to Section 3(b), the Commission’s staff has indicated that you should
be identified as an underwriter in the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

	Yes   ̈	No   ̈

 

		(d)	If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

	Yes   ̈	No   ̈

 

		Note:	If “no” to Section 3(d), the Commission’s staff has indicated that you should
be identified as an underwriter in the Registration Statement.

 

    	2

    	 

    

 

4. Beneficial Ownership
of Securities of the Company Owned by the Selling Securityholder:

 

Except as set forth below in this
Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company.

 

(a)          Please
list the type (common stock, warrants, etc.) and amount of all securities of the Company (including any Registrable Securities)
beneficially owned1 by the Selling Securityholder:

 

	 	 
	 	 

 

5. Relationships with the Company:

 

Except as set forth below, neither
you nor (if you are a natural person) any member of your immediate family, nor (if you are not a natural person) any of your affiliates2,
officers, directors or principal equity holders (owners of 5% of more of the equity securities of the undersigned) has held any
position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past
three years.

 

State any exceptions here:

 

	 	 
	 	 

 

 

		1	Beneficially Owned:  A “beneficial owner”
of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship or
otherwise has or shares (i) voting power, including the power to direct the voting of such security,
or (ii) investment power, including the power to dispose of, or direct the disposition of, such security. 
In addition, a person is deemed to have “beneficial ownership” of a security of which such person has the right to
acquire beneficial ownership at any time within 60 days, including, but not limited to, any right to acquire such security:
(i) through the exercise of any option, warrant or right, (ii) through the conversion of any security or (iii) pursuant
to the power to revoke, or the automatic termination of, a trust, discretionary account or similar arrangement.

 

It is possible that a security may
have more than one “beneficial owner,” such as a trust, with two co-trustees sharing voting power, and the settlor
or another third party having investment power, in which case each of the three would be the “beneficial owner” of
the securities in the trust.  The power to vote or direct the voting, or to invest or dispose of, or direct the investment
or disposition of, a security may be indirect and arise from legal, economic, contractual or other rights, and the determination
of beneficial ownership depends upon who ultimately possesses or shares the power to direct the voting or the disposition of the
security.

 

The final determination of the existence
of beneficial ownership depends upon the facts of each case.  You may, if you believe the facts warrant it, disclaim beneficial
ownership of securities that might otherwise be considered “beneficially owned” by you.

 

		2	Affiliate:  An “affiliate” is a company or person that directly,
or indirectly through one or more intermediaries, controls you, or is controlled by you, or is under common control with you.

 

    	3

    	 

    

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

 

By signing below, the undersigned
consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion of such information
in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned understands
that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration Statement
and the related prospectus and any amendments or supplements thereto.

 

IN WITNESS WHEREOF the
undersigned, by authority duly given, has caused this Selling Securityholder Notice and Questionnaire to be executed and delivered
either in person or by its duly authorized agent.

 

	BENEFICIAL OWNER (individual)	 	BENEFICIAL OWNER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name: 	 
	Signature (if Joint Tenants or Tenants in Common)	 	 	 	 
	 	 	Title: 	 	 

 

PLEASE E-MAIL OR FAX A COPY OF THE COMPLETED
AND EXECUTED SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Crone Kline Rinde LLP 488 Madison Avenue, 12th
Floor

New York, NY 10022

Attention: Linda B. Kalayjian

Facsimile: (212) 400-6901

E-mail Address: lbk@crklaw.com

 

    	4

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