Document:

Exhibit 4.4

 

Exhibit
4.4

 

FORM
OF WARRANT TO PURCHASE SHARES OF COMMON STOCK

 

THIS
WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE
SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO OSL HOLDINGS INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

OSL
HOLDINGS INC.

 

WARRANT
#[__] TO PURCHASE SHARES OF COMMON STOCK

 

1.Issuance.
In consideration of good and valuable consideration as set forth in the Purchase Agreement (defined below), including without
limitation the Initial Cash Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which are hereby
acknowledged by OSL Holdings Inc., a Nevada corporation (“Company”);
Typenex Co-Investment, LLC, a Utah limited liability company, its successors and/or
registered assigns (“Investor”), is hereby granted the right to purchase at any time on or after the date that
is six (6) months following the Issue Date (as defined below) until the date which is the last calendar day of the month in which
the second anniversary of the Issue Date occurs (the “Expiration Date”), a number of fully paid and non-assessable
shares (the “Warrant Shares”) of Company’s common stock, par value $0.001 per share (the “Common
Stock”), equal to $[__] divided by the Market Price (as defined in the Note, as of the Issue Date), as such number may
be adjusted from time to time pursuant to the terms and conditions of this Warrant #1 to Purchase Shares of Common Stock (this
“Warrant”). This Warrant is being issued pursuant to the terms of that certain Securities Purchase Agreement
dated July 1, 2014, to which Company and Investor are parties (as the same may be amended from time to time, the “Purchase
Agreement”).

 

Unless
otherwise indicated herein, capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase
Agreement.

 

This
Warrant was originally issued to Investor on July 1, 2014 (the “Issue Date”).

 

2.Exercise
of Warrant.

 

2.1.General.

 

(a)This
Warrant is exercisable in whole or in part at any time and from time to time commencing on the date that is six (6) months following
the Issue Date and ending on the Expiration Date. Such exercise shall be effectuated by submitting to Company (either by delivery
to Company or by email or facsimile transmission) a completed and duly executed Notice of Exercise substantially in the form attached
to this Warrant as Exhibit A (the “Notice of Exercise”). The date such Notice of Exercise is either
faxed, emailed or delivered to Company shall be the “Exercise Date,” provided that, if such exercise represents
the full exercise of the outstanding balance of this Warrant, Investor shall tender this Warrant to Company within five (5) Trading
Days thereafter, but only if the Warrant Shares to be delivered pursuant to the Notice of Exercise have been delivered to Investor
as of such date. The Notice of Exercise shall be executed by Investor and shall indicate (i) the number of Delivery Shares (as
defined below) to be issued pursuant to such exercise, and (ii) the Exercise Price (as defined below) payable for such Delivery
Shares.

 

For
purposes of this Warrant, the term “Trading Day” means any day during which the principal market on which the
Common Stock is traded (the “Principal Market”) shall be open for business.

 

For
the purposes of this Warrant, the following terms shall have the following meanings:

 

“Closing
Price” shall mean the 4:00 P.M. last sale price of the Common Stock on the Principal Market on the relevant Trading
Day(s), as reported by Bloomberg LP (or if that service is not then reporting the relevant information regarding the Common Stock,
a comparable reporting service of national reputation selected by Investor and reasonably acceptable to Company) (“Bloomberg”)
for the relevant date.

 

“Delivery
Shares” means those shares of Common Stock issuable and deliverable upon the exercise of this Warrant.

 

“Exercise
Price” shall mean the price per share of Common Stock equal to 120% of the Closing Price on the date that is six (6)
months following the Issue Date, as the same may be adjusted from time to time pursuant to the terms and conditions of this Warrant.

 

    	1

    	 

    

 

“Exercise
Shares” shall mean those Warrant Shares subject to an exercise of the Warrant by Investor. By way of illustration only
and without limiting the foregoing, if (i) the Warrant is initially exercisable for 4,180,000 Warrant Shares and Investor has
not previously exercised the Warrant, and (ii) Investor were to make an exercise with respect to 5,000 Warrant Shares pursuant
to which 6,000 Delivery Shares would be issuable to Investor, then (1) the Warrant shall be deemed to have been exercised with
respect to 5,000 Exercise Shares, (2) the Warrant would remain exercisable for 4,175,000 Warrant Shares, and (3) the Warrant shall
be deemed to have been exercised with respect to 6,000 Delivery Shares.

 

“Note”
shall mean that certain Secured Convertible Promissory Note issued by Company to Investor pursuant to the Purchase Agreement,
as the same may be amended from time to time, and including any promissory note(s) that replace or are exchanged for such referenced
promissory note.

 

“Transaction
Documents” or “Transaction Document” shall have the meaning set forth in the Purchase Agreement.

 

“VWAP”
shall mean the volume-weighted average price of the Common Stock on the Principal Market for a particular Trading Day or set of
Trading Days, as the case may be, as reported by Bloomberg.

 

(b)The
Exercise Price per share of Common Stock for the Delivery Shares shall be payable, at the election of Investor, in cash or by
certified or official bank check or by wire transfer in accordance with instructions provided by Company at the request of Investor.

 

(c)Upon
the appropriate payment to Company, if any, of the Exercise Price for the Delivery Shares, Company shall promptly, but in no case
later than the date that is three (3) Trading Days following the date the Exercise Price is paid to Company (the “Delivery
Date”), provided that the Common Stock is then DTC Eligible (as defined in the Note), deliver or cause Company’s
Transfer Agent (as defined in the Note) to deliver to Investor or its broker (as designated in the Notice of Exercise), via reputable
overnight courier, a certificate, registered in the name of Investor or its designee, representing DTC Eligible Common Stock equal
to the applicable number of Delivery Shares. If the Common Stock is not DTC Eligible at such time, such shall constitute a breach
of this Warrant (and thus an Event of Default under the Note), and Company shall instead, on or before the applicable date set
forth above in this subsection, issue and deliver to Investor or its broker (as designated in the Notice of Exercise), via reputable
overnight courier, a certificate, registered in the name of Investor or its designee, representing the applicable number of Delivery
Shares. For the avoidance of doubt, Company has not met its obligation to deliver Delivery Shares within the required timeframe
set forth above unless Investor or its broker, as applicable, has actually received the certificate representing the applicable
Delivery Shares no later than the close of business on the latest possible delivery date pursuant to the terms set forth above.

 

(d)If
Delivery Shares are delivered later than as required under subsection (c) immediately above, Company agrees to pay, in addition
to all other remedies available to Investor in the Transaction Documents, a late charge equal to the greater of (i) $500.00 and
(ii) 2% of the product of (1) the sum of the number of shares of Common Stock not issued to Investor on a timely basis and to
which Investor is entitled multiplied by (2) the closing bid price of the Common Stock on the Trading Day immediately preceding
the last possible date which Company could have issued such shares of Common Stock to Investor without violating this Warrant,
per Trading Day until such Delivery Shares are delivered (the “Late Fees”). Company shall pay any Late Fees
incurred under this subsection in immediately available funds upon demand; provided, however, that, at the option of Investor
(without notice to Company), such amount owed may be added to the principal amount of the Note. Furthermore, in addition to any
other remedies which may be available to Investor, in the event that Company fails for any reason to effect delivery of the Delivery
Shares as required under subsection (c) immediately above, Investor may revoke all or part of the relevant Warrant exercise by
delivery of a notice to such effect to Company, whereupon Company and Investor shall each be restored to their respective positions
immediately prior to the exercise of the relevant portion of this Warrant, except that the Late Fees described above shall be
payable through the date notice of revocation or rescission is given to Company. Finally, as liquidated damages in the event Company
fails to deliver any Delivery Shares to Investor for a period of ninety (90) days from the Delivery Date, Investor may elect,
in its sole discretion, to stop the accumulation of the Late Fees as of such date and require Company to pay to Investor a cash
amount equal to (i) the total amount of all Late Fees that have accumulated prior to the date of Investor’s election, plus
(ii) the product of the number of Delivery Shares deliverable to Investor on such date if it were to exercise this Warrant with
respect to the remaining number of Exercise Shares as of such date multiplied by the closing price of the Common Stock on the
Delivery Date (the “Cash Settlement Amount”). At such time that Investor makes an election to require Company
to pay to it the Cash Settlement Amount, such obligation of Company shall be a valid and binding obligation of Company and shall
for all purposes be deemed to be a debt obligation of Company owed to Investor as of the date it makes such election. Upon Company’s
payment of the Cash Settlement Amount to Investor, the Warrant shall be deemed to have been satisfied and Investor shall return
the original Warrant to Company for cancellation. In addition, and for the avoidance of doubt, even if Company could not deliver
the number of Delivery Shares deliverable to Investor if it were to exercise this Warrant with respect to the remaining number
of Exercise Shares on the date of repayment due to the provisions of Section 2.2, the provisions of Section 2.2 will not apply
with respect to Company’s payment of the Cash Settlement Amount.

 

    	2

    	 

    

 

(e)Investor
shall be deemed to be the holder of the Delivery Shares issuable to it in accordance with the provisions of this Section 2.1 on
the Exercise Date.

 

2.2.Ownership
Limitation. Notwithstanding anything to the contrary contained in this Warrant or the other Transaction Documents, if at any
time Investor shall or would be issued shares of Common Stock under any of the Transaction Documents, but such issuance would
cause Investor (together with its affiliates) to own a number of shares exceeding 4.99% of the number of shares of Common Stock
outstanding on such date (the “Maximum Percentage”), Company must not issue to Investor shares of the Common
Stock which would exceed the Maximum Percentage. The shares of Common Stock issuable to Investor that would cause the Maximum
Percentage to be exceeded are referred to herein as the “Ownership Limitation Shares”. Company
will reserve the Ownership Limitation Shares for the exclusive benefit of Investor. From time to time, Investor may notify Company
in writing of the number of the Ownership Limitation Shares that may be issued to Investor without causing Investor to exceed
the Maximum Percentage. Upon receipt of such notice, Company shall be unconditionally obligated to immediately issue such designated
shares to Investor, with a corresponding reduction in the number of the Ownership Limitation Shares. Notwithstanding the forgoing,
the term “4.99%” above shall be replaced with “9.99%” at such time as the Market Capitalization of the
Common Stock is less than $10,000,000.00. Notwithstanding any other provision contained herein, if the term “4.99%”
is replaced with “9.99%” pursuant to the preceding sentence, such change to “9.99%” shall be permanent.
For purposes of this Warrant, the term “Market Capitalization of the Common Stock” shall mean the product equal
to (A) the average VWAP of the Common Stock for the immediately preceding fifteen (15) Trading Days, multiplied by (B) the aggregate
number of outstanding shares of Common Stock as reported on Company’s most recently filed Form 10-Q or Form 10-K. By written
notice to Company, Investor may increase, decrease or waive the Maximum Percentage as to itself but any such waiver will not be
effective until the 61st day after delivery thereof. The foregoing 61-day notice requirement is enforceable, unconditional and
non-waivable and shall apply to all affiliates and assigns of Investor.

 

3.Mutilation
or Loss of Warrant Upon receipt by Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and (in the
case of mutilation) upon surrender and cancellation of this Warrant, Company will execute and deliver to Investor a new Warrant
of like tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.Rights
of Investor. Investor shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder in Company, either
at law or in equity, and the rights of Investor with respect to or arising under this Warrant are limited to those expressed in
this Warrant and are not enforceable against Company except to the extent set forth herein.

 

5.Protection
Against Dilution and Other Adjustments.

 

5.1.Capital
Adjustments. If Company shall at any time prior to the expiration of this Warrant subdivide the Common Stock, by split-up
or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend, the number
of Warrant Shares issuable upon the exercise of this Warrant shall forthwith be automatically increased proportionately in the
case of a subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments
shall also be made to the Exercise Price and other applicable amounts, but the aggregate purchase price payable for the total
number of Warrant Shares purchasable under this Warrant (as adjusted) shall remain the same. Any adjustment under this Section
5.1 shall become effective automatically at the close of business on the date the subdivision or combination becomes effective,
or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend.

 

5.2.Reclassification,
Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the capital stock
of Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 5.1 above), then Company
shall make appropriate provision so that Investor shall have the right at any time prior to the expiration of this Warrant to
purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of shares of stock and
other securities and property receivable in connection with such reclassification, reorganization, or change by a holder of the
same number of shares of Common Stock as were purchasable by Investor immediately prior to such reclassification, reorganization,
or change. In any such case appropriate provisions shall be made with respect to the rights and interest of Investor so that the
provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and property deliverable
upon exercise hereof, and appropriate adjustments shall be made to the purchase price per Warrant Share payable hereunder, provided
the aggregate purchase price shall remain the same.

 

    	3

    	 

    

 

5.3.Subsequent
Equity Sales. If Company or any subsidiary thereof, as applicable, at any time and from time to time while this Warrant is
outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of, sell
or issue (or announce any offer, sale, grant or any option to purchase or other disposition of) any Common Stock (including any
Common Stock issued under the Note, whether upon any type of conversion or any Deemed Issuance (as defined in the Note)), preferred
shares convertible into Common Stock, or debt, warrants, options or other instruments or securities which are convertible into
or exercisable for shares of Common Stock (together herein referred to as “Equity Securities”), at an effective
price per share less than the Exercise Price (such lower price, the “Base Share Price” and such issuance collectively,
a “Dilutive Issuance”) (if the holder of the Common Stock or Equity Securities so issued shall at any time,
whether by operation of purchase price adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise,
or due to warrants, options, or rights per share which are issued in connection with such issuance, be entitled to receive shares
of Common Stock at an effective price per share that is less than the Exercise Price, such issuance shall be deemed to have occurred
for less than the Exercise Price on such date of the Dilutive Issuance), then (a) the Exercise Price shall be reduced and only
reduced to equal the Base Share Price, and (b) the number of Warrant Shares issuable upon the exercise of this Warrant shall be
increased to an amount equal to the number of Warrant Shares Investor could purchase hereunder for an aggregate Exercise Price,
as reduced pursuant to subsection (a) above, equal to the aggregate Exercise Price payable immediately prior to such reduction
in Exercise Price. Such adjustments shall be made whenever such Common Stock or Equity Securities are issued. Company shall notify
Investor, in writing, no later than the Trading Day following the issuance of any Common Stock or Equity Securities subject to
this Section 5.3, indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price,
or other pricing terms (such notice, the “Dilutive Issuance Notice”). For purposes of clarification,
whether or not Company provides a Dilutive Issuance Notice pursuant to this Section 5.3, upon the occurrence of any Dilutive Issuance,
after the date of such Dilutive Issuance, Investor is entitled to receive the increased number of Warrant Shares provided for
in subsection (b) above at an Exercise Price equal to the Base Share Price regardless of whether Investor accurately refers to
the Base Share Price in the Notice of Exercise. Additionally, following the occurrence of a Dilutive Issuance, all references
in this Warrant to “Warrant Shares” shall be a reference to the Warrant Shares as increased pursuant to subsection
(b) above, and all references in this Warrant to “Exercise Price” shall be a reference to the Exercise Price as reduced
pursuant to subsection (a) above, as the same may occur from time to time hereunder.

 

5.4.Notice
of Adjustment. Without limiting any other provision contained herein, when any adjustment is required to be made in the number
or kind of shares purchasable upon exercise of this Warrant, or in the Exercise Price, pursuant to the terms hereof, Company shall
promptly notify Investor of such event and of the number of Warrant Shares or other securities or property thereafter purchasable
upon exercise of this Warrant.

 

5.5.Exceptions
to Adjustment. Notwithstanding the provisions of Sections 5.3 and 5.4, no adjustment to the Exercise Price shall be effected
as a result of an Excepted Issuance. “Excepted Issuances” shall mean, collectively, (a) Company’s issuance
of securities in connection with strategic license agreements and other partnering arrangements so long as any such issuances
are not for the purpose of raising capital and in which holders of such securities or debt are not at any time granted registration
rights, and (b) Company’s issuance of Common Stock or the issuance or grant of options to purchase Common Stock to employees,
directors, officers and consultants, authorized by Company’s board of directors pursuant to plans or agreements which are
authorized, constituted or in effect as of the Issue Date.

 

6.Certificate
as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock issuable on the exercise of
this Warrant, Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute
such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of
(a) the consideration received or receivable by Company for any additional shares of Common Stock issued or sold or deemed to
have been issued or sold, (b) the number of shares of Common Stock outstanding or deemed to be outstanding, and (c) the Exercise
Price and the number of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior to such
adjustment or readjustment and as adjusted or readjusted as provided in this Warrant. Company will forthwith mail a copy of each
such certificate to Investor and any Warrant Agent (as defined below) appointed pursuant to Section 8 hereof. Nothing in this
Section 6 shall be deemed to limit any other provision contained herein.

 

7.Transfer
to Comply with the Securities Act. This Warrant, and the Warrant Shares, have not been registered under the 1933 Act. None
of the Warrant Shares may be sold, transferred, pledged or hypothecated without (a) an effective registration statement under
the 1933 Act relating to such security or (b) an opinion of counsel reasonably satisfactory to Company that registration is not
required under the 1933 Act; provided, however, that the foregoing restrictions on transfer shall not apply to the transfer
of any security to an affiliate of Investor. Until such time as registration has occurred under the 1933 Act, each certificate
for this Warrant and any Warrant Shares shall contain a legend, in form and substance satisfactory to counsel for Company, setting
forth the restrictions on transfer contained in this Section 7; provided, however, that Company acknowledges and agrees
that any such legend shall be removed from all certificates for DTC Eligible Common Stock delivered hereunder as such Common Stock
is cleared and converted into electronic shares by the DTC (as defined in the Note), and nothing contained herein shall be interpreted
to the contrary. Any such transfer shall be accompanied by a transferor assignment substantially in the form attached to this
Warrant as Exhibit B (the “Transferor Assignment”), executed by the transferor and the transferee and
submitted to Company. Upon receipt of the duly executed Transferor Assignment, Company shall register the transferee thereon as
the new holder on the books and records of Company and such transferee shall be deemed a “registered holder” or “registered
assign” for all purposes hereunder, and shall have all the rights of Investor.

 

    	4

    	 

    

 

8.Warrant
Agent. Company may, by written notice to Investor, appoint an agent (a “Warrant Agent”) for the purpose
of issuing shares of Common Stock on the exercise of this Warrant pursuant hereto, exchanging this Warrant pursuant hereto, and
replacing this Warrant pursuant hereto, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as
the case may be, shall be made at such office by such Warrant Agent.

 

9.Transfer
on Company’s Books. Until this Warrant is transferred on the books of Company, Company may treat Investor as the absolute
owner hereof for all purposes, notwithstanding any notice to the contrary.

 

10.Notices.
Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Purchase Agreement, the terms of which are incorporated herein by reference.

 

11.Supplements
and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in writing signed by the
parties hereto. This Warrant, together with the Purchase Agreement and all the other Transaction Documents, taken together, contain
the full understanding of the parties hereto with respect to the subject matter hereof and thereof and there are no representations,
warranties, agreements or understandings with respect to the subject matter hereof and thereof other than as expressly contained
herein and therein.

 

12.Governing
Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Utah, without giving effect
to the principles thereof regarding the conflict of laws.

 

13.Waiver
of Jury Trial. COMPANY IRREVOCABLY WAIVES ANY AND ALL RIGHTS IT MAY HAVE TO DEMAND THAT ANY ACTION, PROCEEDING OR COUNTERCLAIM
ARISING OUT OF OR IN ANY WAY RELATED TO THIS WARRANT OR THE RELATIONSHIPS OF THE PARTIES HERETO BE TRIED BY JURY. THIS WAIVER
EXTENDS TO ANY AND ALL RIGHTS TO DEMAND A TRIAL BY JURY ARISING UNDER COMMON LAW OR ANY APPLICABLE STATUTE, LAW, RULE OR REGULATION.
FURTHER, COMPANY ACKNOWLEDGES THAT IT IS KNOWINGLY AND VOLUNTARILY WAIVING ITS RIGHT TO DEMAND TRIAL BY JURY.

 

14.Purchase
Agreement; Arbitration of Disputes. This Warrant is subject to the terms, conditions and general provisions of the Purchase
Agreement and the other Transaction Documents, including without limitation the Arbitration Provisions set forth as an Exhibit
to the Purchase Agreement.

 

15.Remedies.
The remedies at law of Investor under this Warrant in the event of any default or threatened default by Company in the performance
of or compliance with any of the terms of this Warrant are not and will not be adequate and, without limiting any other remedies
available to Investor in the Transaction Documents, at law or equity, to the fullest extent permitted by law, such terms may be
specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

 

16.Counterparts.
This Warrant may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be
an original, and all such counterparts shall together constitute but one and the same instrument. Signatures delivered via facsimile
or email shall be considered original signatures for all purposes hereof.

 

17.Attorneys’
Fees. In the event of any arbitration, litigation or dispute arising from this Warrant, the parties agree that the party who
is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional
award of the full amount of the attorneys’ fees and expenses paid by said prevailing party in connection with arbitration
or litigation without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses.
Nothing herein shall restrict or impair an arbitrator’s or a court’s power to award fees and expenses for frivolous
or bad faith pleading.

 

18.Severability.
Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such provision shall be modified
to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability shall not affect
the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant in any other
jurisdiction.

 

19.Time
of the Essence. Time is expressly made of the essence with respect to each and every provision of this Warrant.

 

20.Descriptive
Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and shall not control or
affect the meaning or construction of any of the provisions hereof.

 

[Remainder
of page intentionally left blank; signature page follows]

 

    	5

    	 

    

 

IN
WITNESS WHEREOF, Company has caused this Warrant to be duly executed by an officer thereunto duly authorized as of the Issue Date.

 

	 	COMPANY:
	 	 
	 	OSL Holdings Inc.
	 	 
	 	By: ____________________________________________
	 	Printed Name: _____________________________________
	 	Title: ____________________________________________

 

[Signature
Page to Warrant #1]

 

    	 

    	 

    

 

EXHIBIT
A

 

NOTICE
OF EXERCISE OF WARRANT

 

	TO:	OSL HOLDINGS INC.
		ATTN:
    _______________
		VIA FAX
    TO: ( )______________

 

The
undersigned hereby irrevocably elects to exercise the right, represented by the Warrant to Purchase Shares of Common Stock dated
as of July 1, 2014 (the “Warrant”), to purchase              
     shares of the common stock, $0.001 par value (“Common Stock”), of OSL HOLDINGS
INC., and tenders herewith payment in accordance with Section 2 of the Warrant, as follows:

 

_______CASH:
$__________________________ = (Exercise Price x Delivery Shares)

 

	_______	Payment
    is being made by:
	 	_____
                             enclosed check 
	 	_____
                                 wire transfer 
	 	_____
                                 other

 

Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to them in the Warrant.

 

It
is the intention of Investor to comply with the provisions of Section 2.2 of the Warrant regarding certain limits on Investor’s
right to receive shares thereunder. Investor believes this exercise complies with the provisions of such Section 2.2. Nonetheless,
to the extent that, pursuant to the exercise effected hereby, Investor would receive more shares of Common Stock than permitted
under Section 2.2, Company shall not be obligated and shall not issue to Investor such excess shares until such time, if ever,
that Investor could receive such excess shares without violating, and in full compliance with, Section 2.2 of the Warrant.

 

As
contemplated by the Warrant, this Notice of Exercise is being sent by facsimile to the fax number and officer indicated above.

 

If
this Notice of Exercise represents the full exercise of the outstanding balance of the Warrant, Investor will surrender (or cause
to be surrendered) the Warrant to Company at the address indicated above by express courier within five (5) Trading Days after
the Warrant Shares to be delivered pursuant to this Notice of Exercise have been delivered to Investor.

 

So
that DTC processing can begin, please deliver, via reputable overnight courier, a certificate representing DTC Eligible Common
Stock equal in number to the Delivery Shares to:

 

	 	Name:
    	 	 
	 	Address:
    	 	 
	 	 	 	 

 

To
the extent the Delivery Shares are not DTC Eligible, please deliver a certificate representing non-DTC Eligible Common Stock equal
in number to the Delivery Shares to the party and address set forth immediately above.

 

	Dated:	 	 
	 	 
	 	 
	[Name
    of Investor]	 

 

	By:	 	 

 

Exhibit
A to Warrant, Page 1

 

    	 

    	 

    

 

EXHIBIT
B

 

FORM
OF TRANSFEROR ENDORSEMENT

(To
be signed only on transfer of the Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the Warrant to Purchase Shares of Common Stock dated as of July 1, 2014 (the “Warrant”)
to purchase the percentage and number of shares of common stock, $0.001 par value (“Common Stock”), of OSL
HOLDINGS INC. specified under the headings “Percentage Transferred” and “Number Transferred,” respectively,
opposite the name(s) of such person(s), and appoints each such person attorney-in-fact to transfer the undersigned’s respective
right on the books of OSL HOLDINGS INC. with full power of substitution.

 

	Transferees	Percentage
    Transferred        Number Transferred
	 	 
	 	 
	Dated:___________,
    ______	 

 

	 	 
	 	[Transferor
    Name must conform to the name of Investor as specified on the face of the Warrant]

 

	 	By:
    	 
	 	Name:
    	 

 

	Signed
    in the presence of:	 
	 	 
	 	 
	(Name)	 
	 	 
	 	 
	ACCEPTED
    AND AGREED:	 
	 	 
	 	 
	[TRANSFEREE]
    	 

 

	By:
    	 	 
	Name:
    	 	 

 

Exhibit
B to Warrant, Page 1OSL Holdings, Inc

1669 Edgewood Rd, Suite
214

Yardley, PA 19067

 

June 24, 2014

 

PERSONAL AND CONFIDENTIAL

 

Thomas D’Orazio

9424 Centerwood Drive

Raleigh, NC 27617

 

Re: Terms of Employment

 

Dear Mr. D’Orazio:

 

In accordance with our ongoing
discussions, the following are the terms and conditions that we propose for your employment with OSL Holdings, Inc. (“OSL
or the “Company”) as Vice President, Corporate Controller and Principal Accounting Officer. If, after reviewing these
terms and conditions, you feel that they are acceptable to you, please so indicate by executing a copy of this letter agreement
(the “Agreement”) and returning it to us. Your start date of employment will be July 7, 2014.

 

The various terms and conditions
of your employment will be as follows:

 

1. Base
Salary. Your base salary will be One Hundred and Sixty Five Thousand Dollars ($165,000)
per year (the “Base Salary”), less applicable deductions and withholdings. On or before December 31, 2014, this Base
Salary will be reviewed and a package including a new Base Salary of not less than One Hundred Eighty Thousand Dollars ($180,000)
per year and a new Bonus may be mutually agreed upon.

 

2. Transition
Bonus. A one-time bonus targeted at Fifteen Thousand Dollars ($15,000) bonus (the “Transition
Bonus”) will be paid by the end of September 2014 upon completion of a three-month (July through September 2014) transition
from RH Management and Steve Handy.

 

3. Benefits.
In addition to your base salary, you will be entitled to the following benefits during
your employment with the Company:

 

Fifteen (15) days of paid
vacation each year (which will be prorated for the calendar year 2014 based upon the date you commence full-time employment with
the Company). Vacation days shall not accrue beyond a cap of fifteen (15) days and shall resume accrual once the number of accrued
days is reduced below fifteen (15);

 

Holidays in accordance
with the Company’s policies; and

 

Expense reimbursement
based on monthly expense reports to be validated and approved in writing.

 

    	 

    	 

    

 

Page 2

 

(d) The terms and conditions
that we propose for your employment does not include health, life, dental and long or short term disability insurance benefits.

 

4.
Stock Options. Subject to the approval of the Company’s Board of Directors and subject to the terms of the upcoming
Company’s Stock Option/Stock Issuance Plan and a Separate Stock Option Agreement, you shall be granted options (the “Option”),
to purchase Two Hundred and Twenty Six Thousand (226.000) shares of the Company’s Common Stock. The Options will have an
exercise price equal to the fair market value of the Common Stock as determined by the Board of Directors on the date of grant
of each option. Provided you are continuously employed by the Company during the vesting period, the Options will vest over a
four-year period commencing on your first day of employment, such that twenty-five percent (25%) of the shares subject to the
Option shall vest one (1) year from your start date with the Company and the remaining seventy-five percent (75%) of the shares
subject to the Option will vest in thirty-six (36) equal monthly installments thereafter.

 

5.
Severance, At Will Employment. Your employment with the Company is not for a guaranteed or definite period of time.
Rather, your employment relationship will be “at will.” This means that you will have the right to resign and the
Company will have the right to terminate your employment at any time for any reason, with, or without Cause (as defined below)
and with or without notice. Your status will remain at-will until and unless such status is expressly changed in writing signed
and dated by the CEO of the Company. In the event that your employment with the Company is terminated without Cause on or before
November 1, 2014, your Base Salary and any qualifying Bonus payments will continue to be paid through November 1, 2014 or three
months from date of termination, whichever is greater, as if you had remained employed through that date;
provided, however, that such Base Salary continuation payments will be conditioned upon your execution and non-revocation
of a general release of claims against the Company in a form satisfactory to the Company. For avoidance of doubt, if your employment
is terminated by you or by the Company for any reason and at any time (other than a termination by the Company without Cause on
or before November 1, 2014 as described in the preceding sentence), the Company will have no further obligations to you as of
the date your employment is terminated.

 

For purposes of this Agreement
“Cause” shall mean (A) a breach of any of your material obligation under this Agreement, the attached Schedule B
or Schedule C or any other agreement with the Company, or your breach of any duty owed to the Company; (B) the conviction of,
or plea of guilty or nolo contendere by, you in respect of any felony; (C) the perpetration by you of fraud against the Company;
(D) the failure by you to substantially perform your duties with the Company; or (E) any misconduct by you which could have, or
could reasonably be expected to have, an adverse effect in any material respect on (i) your ability to function as an employee
of the Company, taking into account the services required of you or (ii) the business and/or reputation of Company.

 

6.
Title and Duties. You will be appointed as Vice
President, Corporate Controller and Principal Accounting Officer, of the Company as of the commencement of your full time employment
and will report directly to the CEO of the company or his designated representative. Your duties shall include, but not be limited
to, all facets of the accounting department, Sarbanes Oxley 404, Securities and Exchange Commission filings including Form 10-K,
Form 10-Q, Form 8-K, annual proxy statements, and supporting the overall operations of the Company.

 

    	 

    	 

    

 

Page 3

 

7. Indemnification
of Executive. The Company shall indemnify and hold harmless Executive to the full extent
authorized or permitted by law with respect to any claim, liability, action, or proceeding instituted or threatened against or
incurred by Executive or his legal representatives and arising in connection with Executive’s conduct or position at any
time as an officer, employee or agent of the Company or any subsidiary thereof. The Company shall not change, modify, alter, or
in any way limit the existing indemnification and reimbursement provisions relating to and for the benefit of its directors and
offices without the prior written consent of the Executive, including any modification or limitation of any directors and officer
liability insurance program.

 

8. Conditions
of Employment. Your employment shall be conditioned upon your acceptance of the following:

 

That you agree to execute
and abide by the terms and conditions of the Company’s standard Proprietary Information and Inventions Agreement between
you and the Company, substantially in the form attached hereto as Schedule B. You further agree that at all times both during
your employment by the Company and after your termination, you will keep in confidence and trust, and will not use or disclose,
except as directed by the Company, any confidential or proprietary information of the Company.

 

That you represent, warrant
and covenant that the performance of your duties for the Company will not require you to violate any agreement with any former
employer and you agree not to do so. During your employment by the Company you shall not improperly use or disclose any confidential
information or trade secrets, if any, of any former employer or any other person to whom you have an obligation of confidentiality,
and you will not bring onto the premises of the Company any unpublished documents or any property belonging to any former employer
or any other person to whom you have an obligation of confidentiality unless consented to in waiting by that former employer or
person. Further, you represent that except as disclosed and summarized on Schedule A attached hereto, you have not entered into,
and you agree in the future not to enter into, any agreement in conflict with the terms of this Agreement or your employment with
the Company.

 

You shall devote all of
your business time, attention, knowledge, skills and interests to the business of the Company and the Company shall be entitled
to all of the benefits and profits arising from or incident to such work, services and advice other than those listed in Schedule
A.

 

For the duration of your
employment with the Company, you shall not, whether directly or indirectly, render any material services of a commercial or professional
nature to any other person or organization, whether for compensation or otherwise, without the prior consent of the Company’s
Board of Directors other than those listed in Schedule A.

 

As required by law, this
offer of employment is subject to satisfactory proof of your right to work in the United States. We hope that these terms and
conditions are acceptable to you. Please feel free to contact me with any questions. To accept this offer, please sign below and
also where indicated on the Proprietary Information and Inventions Agreement attached hereto as Schedule B. This offer if not
accepted, will expire on June 28, 2014.

 

    	 

    	 

    

 

	 	Sincerely,
	 	 	 
	 	OSL
    Holdings, Inc
	 	 	 
	 	By:	
	 	 	Robert Rothenberg
	 	 	Chief
    Executive Officer

 

AGREED AND ACCEPTED:

 

Thomas D’Orazio

9424 Centerwood Drive

Raleigh, NC 27617

 

    	 

    	 

    

 

Schedule
A

 

CONFLICTING AGREEMENTS

 

 

    	 

    	 

    

 

Exhibit
A

 

Section 2870. Invention on Own Time
Exemption from Agreement

 

Any provision in an employment
agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or
her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s
equipment, supplies, facilities, or trade secret information except for those inventions that either:

 

Relate at the time of conception
or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated research or
development of the employer.

 

Result from any work performed
by the employee for his employer.

 

To the extent a provision
in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required to be
assigned under subdivision (a), the provision is against the public policy of this state and is unenforceable.

 

    	 

    	 

    

 

Exhibit B

 

1. The following
is a complete list of all Inventions or Improvements relevant to the subject matter of my employment by OSL Holdings, Inc. (the
“Company”) that have been made or conceived or first reduced to practice by me or jointly with others prior to my
employment by the Company that I desire to remove from the operation of the Company’s Proprietary Information and Inventions
Agreement:

 

 

    	 

    	 

    

 

Schedule
B

 

EMPLOYEE PROPRIETARY INFORMATION

AND INVENTIONS AGREEMENT

 

The following confirms an
agreement between me and OSL Holdings, Inc. , Inc., a Nevada corporation (hereafter referred to as the “Company”),
which is a material part of the consideration for my employment by the Company:

 

1. I understand
that the Company possesses Proprietary Information which is important to its business. For purposes of this Agreement, “Proprietary
Information” is information that was developed, created, or discovered by the Company, or which became known by, or was
conveyed to the Company, which has commercial value in the Company’s business. “Proprietary Information” includes,
but is not limited to, trade secrets, copyrights, ideas, techniques, know-how, inventions (whether patentable or not), and/or
any other information of any type relating to designs, configurations, toolings, documentation, recorded data, schematics, circuits,
mask works, layouts, source code, object code, master works, master databases, algorithms, flow charts, formulae, works of authorship,
mechanisms, research, manufacture, improvements, assembly, installation, intellectual property including patents and patent applications,
business plans, past or future financing, marketing, forecasts, pricing, customers, the salaries, duties, qualifications, performance
levels, and terms of compensation of other employees, and/or cost or other financial data concerning any of the foregoing or the
Company and its operations generally and other information concerning the Company’s actual or anticipated business, research
or development, or which is received in confidence by or for the Company from any other person. I understand that my employment
creates a relationship of confidence and trust between me and the Company with respect to Proprietary Information.

 

2.
I understand that the Company
possesses “Company Documents” which are important to its business. For purposes of this Agreement, “Company
Documents” are documents or other media that contain Proprietary Information or any other information concerning the business,
operations or plans of the Company, whether such documents have been prepared by me or by others. “Company Documents”
include, but are not limited to, blueprints, drawings, photographs, charts, graphs, notebooks, customer lists, computer disks,
tapes or printouts, sound recordings and other printed, typewritten or handwritten documents.

 

3. In consideration
of my employment by the Company and the compensation received by me from the Company from time to time, I hereby agree as follows:

 

    	 

    	 

    

 

All Proprietary Information
and all patents, patent rights, copyrights, mask work rights, trade secrets, moral rights and other rights in connection therewith
shall be the sole property of the Company. I hereby assign to the Company any rights I may have or acquire in such Proprietary
Information. At all times, both during my employment by the Company and after its termination, I will keep in confidence and trust
and will not use or disclose any Proprietary Information or anything relating to it without the prior written consent of an officer
of the Company, except as may be necessary in the ordinary course of performing my duties to the Company.

 

I agree to make and maintain
adequate and current written records, in a form specified by the Company, of all inventions, trade secrets and works of authorship
assigned or to be assigned pursuant to this Agreement. All Company Documents shall be the sole property of the Company. I agree
that during my employment by the Company, I will not remove or electronically transmit any Company Documents from the business
premises of the Company or deliver any Company Documents to any person or entity outside the Company, except as I am required
to do in connection with performing the duties of my employment. I further agree that, immediately upon the termination of my
employment by me or by the Company for any reason, or during my employment if so requested by the Company, I will return all Company
Documents, apparatus, equipment, and other physical property, or any reproduction of such property, excepting only (i) my personal
copies of records relating to my compensation; (ii) my personal copies of any materials previously distributed generally to shareholders
of the Company; and (iii) my copy of this Agreement or related agreements.

 

I will promptly disclose
in writing to my immediate supervisor, with a copy to the President of the Company, or to any persons designated by the Company,
all “Inventions,” which includes all improvements, inventions, works of authorship, mask works, computer programs,
formulae, ideas, processes, techniques, know-how, and data, whether or not patentable, made or conceived or reduced to practice
or developed by me, either alone or jointly with others, during the terms of my employment. I will also disclose to the President
of the Company all things that would be Inventions if made during the term of my employment, conceived, reduced to practice, or
developed by me within six (6) months of the termination of my employment with the Company or my departure. Such disclosures shall
be received by the Company in confidence (to the extent they are not assigned in (d) below) and do not extend the assignment made
in Section (d) below. I will not disclose Inventions to any person outside the Company unless I am requested to do so by management
personnel of the Company.

 

I agree that all Inventions
which I make, conceive, reduce to practice or develop (in whole or in part, either alone or jointly with others) during my employment
shall be the sole property of the Company to the maximum extent permitted by Section 2870 of the California Labor Code, a copy
of which is attached as Exhibit A. This assignment shall not extend to Inventions, the assignment of which is prohibited by Labor
Code Section 2870. The Company shall be the sole owner of all patents, copyrights and other intellectual property or other rights
in connection therewith. I further acknowledge and agree that such Inventions, including any computer programs, programming documentation,
and other works of authorship, are “works made for hire” for purposes of the Company’s rights under copyright
laws. I hereby assign to the Company any rights I may have or acquire in such Inventions.

 

    	 

    	 

    

 

I agree to perform, during
and after my employment (so long as I am compensated reasonably for my time), all acts deemed necessary or desirable by the Company
to permit and assist it, at the Company’s expense, in obtaining, maintaining, defending and enforcing patents, copyrights
or other rights on such Inventions and improvements in any and all countries. Such acts may include, but are not limited to, execution
of documents and assistance or cooperation in legal proceedings. I hereby irrevocably designate and appoint the Company and its
duly authorized officers and agents, as my agents and attorney-in-fact to act for and on my behalf and instead of me, to execute
and file any applications or related findings and to do all other lawfully permitted acts to further the prosecution and issuance
of patents, copyrights or other rights thereon with the same legal force and effect as if executed by me.

 

I have attached as Exhibit
B a complete list of all Inventions or improvements to which I claim ownership and that I desire to remove from the operation
of this Agreement, and I acknowledge and agree that such list is complete. If no such list is attached to this Agreement, I represent
that I have no such Inventions and improvements at the time of signing this Agreement. If, in the course of my employment with
the Company, I incorporate into a Company product, process or machine such an existing Invention or improvement owned by me or
in which I have an interest, the Company is hereby granted and shall have a nonexclusive, royalty- free, irrevocable, perpetual,
worldwide license to make, have made, modify, use and sell such Invention or improvement as part of or in connection with such
product, process or machine.

 

Prior to my submitting or
disclosing for possible publication or dissemination outside the Company any material prepared by me that incorporates information
that concerns die Company’s business or anticipated research, I agree to deliver a copy of such material to an officer of
the Company for his or her review. Within twenty (20) days of such submission, the Company agrees to notify me whether the Company
believes such material contains any Proprietary Information, and I agree to make such deletions and revisions as are reasonably
requested by the Company to protect its Proprietary Information. I further agree to obtain the consent of the Company prior to
any review of such material by persons outside the Company.

 

I represent that my performance
of all the terms of this Agreement and as an employee of the Company does not and will not breach any agreement to keep in confidence
proprietary information, knowledge or data acquired by me in confidence or in trust prior to my employment by the Company, and
I will not disclose to the Company, or induce the Company to use, any confidential or proprietary information or material belonging
to any previous employers or others. I represent and warrant that I have returned all property and confidential information belonging
to all prior employees. I have not entered into, and I agree I will not enter into, any agreement either written or oral in conflict
herewith or in conflict with my employment with the Company. I further agree to conform to the rules and regulations of the Company.

 

4.
I agree that I am employed on an “at-will” basis. This means that I have the right to resign and the Company
has the right to terminate my employment at any time for any reason, with or without cause. This is the complete agreement between
the Company and me on this term of my employment. I further agree that this term can only be modified by an officer of the Company
and he or she can only do so in a writing signed and dated by him or her and me.

 

    	 

    	 

    

 

5. If
one or more provisions of this Agreement are held to be unenforceable under applicable law, such provisions shall be excluded
from this Agreement and the balance of the Agreement shall be interpreted as if such provisions were so excluded and shall be
enforceable in accordance with its terms.

 

6. This
Agreement shall be effective as of the first day of my employment with the Company and shall be binding upon me, my heirs, executor,
assigns, and administrators, and shall inure to the benefit of the Company, its subsidiaries, successors and assigns.

 

7. I agree that
the covenants and obligations contained in this Agreement relate to special, unique and extraordinary matters and that a violation
of any of such covenants or obligations may cause the Company irreparable injury for which adequate remedy at law will not be
available; and, therefore, that upon any such breach of any such covenant or obligation, or any threat thereof, the Company shall
be entitled to the immediate remedy of a temporary restraining order, preliminary injunction or such other form of injunctive
or equitable relief in addition to whatever remedies they might have at law. Furthermore, I agree to indemnify the Company against
and shall reimburse the Company for and in respect of any and all claims, demands, losses, cost, expenses, obligations, liabilities,
damages, remedies and penalties, including interest, penalties and reasonable attorneys’ fees and expenses that the Company
shall incur or suffer and which arise from, are attributable to, by reason of or in connection with any breach or inaccuracy of
or any failure to perform or comply with any of my agreements or covenants contained in this Agreement.

 

8. This
Agreement can only be modified by a subsequent written agreement executed by an officer of the Company.

 

9. Although
I may work for the Company outside of Pennsylvania or the United States, I understand and agree that this Agreement shall be interpreted
and enforced in accordance with the laws of the Commonwealth of Pennsylvania.

 

I HAVE READ THIS AGREEMENT CAREFULLY AND I
UNDERSTAND AND ACCEPT THE OBLIGATIONS WHICH IT IMPOSES UPON ME WITHOUT RESERVATION. NO PROMISES OR REPRESENTATIONS HAVE BEEN MADE
TO ME TO INDUCE ME TO SIGN THIS AGREEMENT. I SIGN THIS AGREEMENT VOLUNTARILY AND FREELY.

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