Document:

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

 

BALANCE
LABS, INC.

 

Convertible
Debenture

 

	$500,000	Issue
    Date: April 1, 2016

 

 

This
Convertible Debenture (the “Debenture”) is duly authorized and issued by Balance Labs, Inc., a Delaware corporation,
(the “Company”), having its principal executive office at 1111 Lincoln Road, 4th Floor, Miami Beach, Florida.

 

FOR
VALUE RECEIVED, the Company, promises to pay to the order of NEWEL TRADING GROUP LLC and or its registered assigns (the “Payee”
or the “Holder”), the principal sum of Five Hundred Thousand Dollars ($500,000) (the “Principal Amount”)
and all accrued interest no later than April 1, 2017 (the “Maturity Date”) in such coin or currency of the
United States of America as at the time of payment shall be legal tender for the payment of public and private debts, unless it
is previously repaid by the Company or converted into common stock. This Debenture shall accrue interest on the Principal Amount
at a rate of ten percent (10%) per annum on the Maturity Date.

 

This
Debenture is subject to the following additional provisions:

 

1.
Conversion. At any time following sixty (90) days after the Issue Date and ending on the Maturity, unless previously repaid
by the Company, this Debenture shall be convertible into shares of common stock of the Company at the option of the Holder, in
whole or in part (subject to any limitations on conversion). The Holder shall effect conversions by delivering to the Company
the form of Notice of Conversion attached hereto as Exhibit A (a “Notice of Conversion”), specifying
therein the Principal Amount and interest of this Debenture to be converted and the date on which such conversion is to be effected
(a “Conversion Date”). If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall
be the date that such Notice of Conversion is provided hereunder. To effect conversions hereunder, the Holder shall not be required
to physically surrender this Debenture to the Company unless the entire Principal Amount of this Debenture plus all accrued and
unpaid interest thereon has been so converted. Conversions hereunder shall have the effect of lowering the outstanding Principal
Amount of this Debenture in an amount equal to the applicable conversion amount. The Company shall maintain records showing the
Principal Amount converted and the date of such conversions. The Holder and any assignee, by acceptance of this Debenture, acknowledge
and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid
and unconverted Principal Amount of this Debenture may be less than the amount stated on the face hereof.

 

    	 

     

    

 

A. Conversion
Price. Conversion Price. The conversion price (the “Conversion Price”) shall be equal to $0.25 per share
(the “Fixed Conversion Price”).

 

B. Mechanism
of Conversion

 

i. Conversion
Shares Issuable Upon Conversion of Principal Amount. The number of Common Shares issuable upon a conversion hereunder shall
be determined by the quotient obtained by dividing the outstanding principal amount of this Debenture and any accrued interest
thereof to be converted by the Conversion Price.

 

ii. Delivery
of Certificate Upon Conversion. In the event of any conversion of this Debenture in accordance with and subject to the terms
and conditions hereof, certificates for the Common Shares shall be dated the Conversion Date and delivered to the Holder hereof
within a reasonable time, not exceeding five (5) Business Days after any Conversion Date, and the Holder hereof shall be deemed
for all purpose to be the holder of the Common Shares so purchased as of the date of such conversion. The Company will deliver
or cause to be delivered to the Holder a certificate or certificates representing the number of Common Shares being acquired upon
the conversion of this Debenture. The Holder shall deliver this original Debenture, or an indemnification undertaking with respect
to such Debenture in the case of its loss, theft or destruction, at such time that this Debenture is fully exercised.

 

iii. Reservation
of Shares Issuable Upon Conversion. The Company covenants that it will cause the Company to at all times reserve and keep
available out of its authorized and unissued shares of common stock solely for the purpose of issuance upon any conversion of
this Debenture and payment of interest on this Debenture each as herein provided, free from preemptive rights or any other actual
contingent purchase rights of persons other than the Holder (and the other holders of the Debentures), not less than 100% of the
Common Shares as shall be issuable upon the conversion of the Principal Amount and payment of interest hereunder. The Company
covenants that all shares of common stock that shall be so issuable shall, upon issue, be duly and validly authorized, issued,
and fully paid, non assessable.

 

iv. Fractional
Shares. Upon a conversion hereunder the Holder shall be entitled to receive, in lieu of the financial fraction of a share,
one whole share of common stock.

 

v. Transfer
Taxes. The issuance of certificates for Common Shares upon conversion of this Debenture shall be made without charge to the
Holder hereof for any documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such certificate,
provided that the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the
issuance and delivery of any such certificate upon conversion in a name other than that of the Holder of this Debenture so converted
and the Company shall not be required to issue or deliver such certificates unless or until the person or persons requesting the
issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company
that such tax has been paid. Upon notice from the Investor to the Company requesting the conversion, the sale of the conversion
shares, the company will convert the outstanding debt to equity at 80% of the sales price. The sales price is the sale of shares
that take place over the 10 day period beginning on the drawdown note. Upon the tru-up.

 

    	 

     

    

 

vi. Maximum
Exercise of Rights. Notwithstanding anything to the contrary set forth in this Debenture, at no time may the Holder convert
all or a portion of this Debenture if the number of shares of Common Stock to be issued pursuant to such conversion, when aggregated
with all other shares of Common Stock owned by the Holder at such time, would result in the Holder, together with its affiliates,
beneficially owning (as determined in accordance with Section 13(d) of the Exchange Act and the rules thereunder) in excess of
4.99% of the then issued and outstanding shares of Common Stock outstanding at such time; provided, however, that
upon the Holder providing the Company with at least 61 days’ notice (the “Waiver Notice”) that the Holder would
like to waive this Section 1(vi) with regard to any or all shares of Common Stock issuable upon conversion of this Debenture,
this Section 1(vi) shall be of no force or effect with regard to all or a portion of the Debenture referenced in the Waiver Notice.

 

2. Adjustment
of Conversion Price. The Conversion Price shall be subject to adjustment from time to time as set forth in this Section 2.
The Company shall give the Holder notice of any event described below which requires an adjustment pursuant to this Section 2
in accordance with the notice provisions set forth herein.

 

 A. Stock
Dividends, Subdivisions and Combinations. If at any time the Company shall:

 

 i. make
or issue or set a record date for the holders of the Common Stock for the purpose of entitling them to receive a dividend payable
in, or other distribution of, shares of Common Stock,

 

 ii.
 subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or

 

 iii.
 combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock,

 

then
(1) the number of shares of Common Stock for which this Debenture is convertible immediately after the occurrence of any such
event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common
Stock for which this Debenture is exercisable immediately prior to the occurrence of such event would own or be entitled to receive
after the happening of such event, and (2) the Conversion Price then in effect shall be adjusted to equal (A) the Conversion Price
then in effect multiplied by the number of shares of Common Stock for which this Debenture is exercisable immediately prior to
the adjustment divided by (B) the number of shares of Common Stock for which this Debenture is exercisable immediately after such
adjustment.

 

    	 

     

    

 

3.
 Anti-Dilution Protection. Other than in connection with (i) full or partial consideration in connection with a strategic
merger, acquisition, consolidation or purchase of substantially all of the securities or assets of a corporation or other entity
so long as such issuances are not for the purpose of raising capital and which holders of such securities or debt are not at any
time granted registration rights, (ii) the Company’s issuance of securities in connection with a bona fide strategic license
agreements and other partnering arrangements with an independent third party in a similar business as the Company so long as such
issuances are not for the purpose of raising capital and which holders of such securities or debt are not at any time granted
registration rights, (iii) the Company’s issuance of Common Stock or the issuances or grants of options to purchase Common
Stock of up to 10% of the Company’s outstanding shares to employees, directors, and consultants, pursuant to an approved
employee benefit plan, and (iv) as a result of the conversion of Debenture and/or exercise of Warrants which are issued or granted
pursuant to this Agreement (collectively, the foregoing (i) through (iv) are “Excepted Issuances”), if for a period
of one (1) year following the Initial Closing Date, the Company shall agree to or issue (the “Lower Price Issuance”)
any Common Stock or securities convertible into or exercisable for shares of Common Stock (or modify any of the foregoing which
may be outstanding) to any person or entity at a price per share or conversion or exercise price per share which shall be less
than the Conversion Price in effect at such time without the consent of the Purchaser, then the Conversion Price shall be reduced
to such lower price.

 

4.
Holder’s Representations and Warranties. The Holder represents and warrants that:

 

A. Restrictions
on Transfer or Resale. The Holder understands that (i) the Debenture and any Common Shares upon conversion of the Debenture
are not being registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered for
sale, sold, assigned or transferred unless (A) the Debenture, any Common Shares or the Private Placement Securities are subsequently
registered thereunder, or (B) Holder shall have delivered to the Company an opinion of counsel, in a generally acceptable form,
to the effect that such securities to be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption
from such registration; and (ii) neither the Company nor any other party is under any obligation to register the Debenture or
the Common Shares under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption
thereunder; (iii) Holder is acquiring the Debenture and the Common Share for its own account and not with a view towards, or for
resale in connection with, the public sale or distribution thereof, except pursuant to sales registered or exempted under the
1933 Act, and (iv) Holder does not presently have any agreement or understanding, directly or indirectly, with any party to distribute
any of the securities.

 

B. Accredited
Investor Status. Holder is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D.

 

C. Reliance
on Exemptions. The Holder understands that the Debenture and any Common Shares issuable upon voluntary conversion 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 Holder’s compliance with, the
representations, warranties, agreements, acknowledgments and understandings of Holder set forth herein in order to determine the
availability of such exemptions and the eligibility of Holder to acquire the securities.

 

D.
 Information. Holder and its advisors, if any, have been furnished with all materials relating to the business, finances
and operations of the Company and materials relating to the offer and sale of the securities that have been requested by Holder.
Holder and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries nor
any other due diligence investigations conducted by Holder or its advisors, if any, or its representatives shall modify, amend
or affect Holder’s right to rely on the Company’s representations and warranties contained herein. Holder understands
that its investment in the Debenture and any Common Shares upon voluntary conversion involve a high degree of risk and is able
to afford a complete loss of such investment. Holder 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 securities.

 

    	 

     

    

 

E. No
Governmental Review. Holder understands that no United States federal or state agency or any other government or governmental
agency has passed on or made any recommendation or endorsement of the securities or the fairness or suitability of the investment
in the securities nor have such authorities passed upon or endorsed the merits of the offering of the securities.

 

F.
 Legend. This Debenture and all certificates representing Common Shares upon voluntary conversion shall be
stamped or imprinted with a legend in substantially the following form:

 

Neither
the issuance and sale of the securities represented by this Certificate nor the securities into which these securities are exercisable
have been registered under the securities Act of 1933, as amended, or Applicable state securities laws. The securities may not
be offered for sale, sold, transferred or assigned (i) in the absence of (A) an effective registration statement for the securities
under the securities Act of 1933, as amended, or (B) an opinion of counsel, in a generally acceptable form, that registration
is not required under said Act or (II) unless sold pursuant to Rule 144 or Rule 144 A under said Act. Notwithstanding the foregoing,
the securities may be pledged in connection with a bona fide margin account or other loan or financing arrangement secured by
the securities.

 

5. Events
of Default

 

A. The
term “Event of Default” shall mean any of the events set forth in this Section 5A (the term “Company”
for this purpose shall include all subsidiaries of the Company):

 

 i. Non-Payment
of Obligations. The Company shall default in the payment of the Principal Amount of this Debenture as and when the same shall
become due and payable, whether by acceleration or otherwise.

 

    	 

     

    

 

 ii. Non-Performance
of Affirmative Covenants. The Company shall default in the due observance or performance of any covenant set forth herein,
which default shall continue uncured for ten (10) days after notice thereof.

 

 iii. Non-Performance
of Negative Covenants. The Company shall default in the due observance or performance of any covenant set forth herein, which
default shall continue uncured for ten (10) days after notice thereof.

 

 iv. Bankruptcy,
Insolvency, etc. The Company shall:

 

(a) admit
in writing its inability to pay its debts as they become due;

 

(b) apply
for, consent to, or acquiesce in, the appointment of a trustee, receiver, sequestrator or other custodian for the Company or any
of its property, or make a general assignment for the benefit of creditors;

 

(c) in
the absence of such application, consent or acquiesce in, permit or suffer to exist the appointment of a trustee, receiver, sequestrator
or other custodian for the Company or for any part of its property and that is not dismissed within sixty days;

 

(d) permit
or suffer to exist the commencement of any bankruptcy, reorganization, debt arrangement or other case or proceeding under any
bankruptcy or insolvency law, or any dissolution, winding up or liquidation proceeding, in respect of the Company, and, if such
case or proceeding is not commenced by the Company or converted to a voluntary case, such case or proceeding is consented to or
acquiesced in by the Company or results in the entry of an order for relief; or

 

(e) take
any corporate or other action authorizing any of the foregoing.

 

B. Action
if Event of Default. If any Event of Default shall occur, the Principal Amount of this Debenture and all other obligations
hereunder shall automatically be and become immediately due and payable, without notice or demand.

 

6. Miscellaneous.

 

A. Parties
in Interest. All covenants, agreements and undertakings in this Debenture binding upon the Company or the Holder shall bind
and inure to the benefit of the successors and permitted assigns of the Company and the Holder, respectively, whether so expressed
or not.

 

B. Governing
Law. This Debenture shall be governed by the laws of New York as applied to contracts entered into and to be performed entirely
within New York.

 

C. Waiver
of Jury Trial. THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH, THIS NOTE OR ANY OTHER DOCUMENT OR
INSTRUMENT EXECUTED AND DELIVERED IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL
OR WRITTEN), OR ACTIONS OF THE PAYEE OR THE COMPANY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE PAYEE’S PURCHASING
THIS NOTE.

 

    	 

     

    

 

D. Consent
To Jurisdiction. Each of the Company and the Payee (i) hereby irrevocably submits to the jurisdiction of the United States
District Court sitting in the Southern District of New York and the courts of the State of New York located in New York county
for the purposes of any suit, action or proceeding arising out of or relating to this Note and (ii) hereby waives, and agrees
not to assert in any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of such
court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding
is improper. Each of the Company and the Payee consents to process being served in any such suit, action or proceeding by mailing
a copy thereof to such party at the address set forth in Section 7E hereof and agrees that such service shall constitute good
and sufficient service of process and notice thereof. Nothing in this Section 7D shall affect or limit any right to serve process
in any other manner permitted by applicable law.

 

E. Notices.

 

i. Any
notice pursuant to this Debenture to be given or made by the Holder to or upon the Company shall be sufficiently given or made
if sent by certified or registered mail, postage prepaid, addressed (until another address is sent by the Company to the Holder)
as follows:

 

If
to the Company:

 

Balance
Labs, Inc.

1111
Lincoln Road, 4th Floor

Miami
Beach, FL 33139

Phone:
(305) 907-7600

Attention:
Michael D. Farkas, CEO

 

If
to the Purchaser:

 

NEWEL
TRADING GROUP, LLC250 West 55th Street

14th
Floor

New
York, NY 10019

Phone:
(212) 582-2222

Attention:
Chief Investment Officer

 

Any
notice pursuant to this Debenture to be given or made by the Company to or upon the Holder shall be sufficiently given or made
if sent by certified or registered mail, postage prepaid, addressed (until another address is sent by the Holder to the Company)
to the address of the Holder set forth above.

 

 E. No
Waiver. No delay in exercising any right hereunder shall be deemed a waiver thereof, and no waiver shall be deemed to have
any application to any future default or exercise of rights hereunder.

 

 F. Modification
and Severability. If, in any action before any court or agency legally empowered to enforce any provision contained herein,
any provision hereof is found to be unenforceable, then such provision shall be deemed modified to the extent necessary to make
it enforceable by such court or agency. If any such provision is not enforceable as set forth in the preceding sentence, the unenforceability
of such provision shall not affect the other provisions herein, but this Debenture shall be construed as if such unenforceable
provision had never been contained herein.

 

[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

 

    	 

     

    

 

[SIGNATURE
PAGE TO CONVERTIBLE DEBENTURE]

 

IN
WITNESS WHEREOF, this Debenture has been executed and delivered on the date specified above by the duly authorized representative
of the Company.

 

	 	Balance Labs, Inc.
	 	 	 
	 	By:
    	/s/
    Michael D. Farkas
	 	Name:
    	Michael
    D. Farka
	 	Title:
    	CEO
	 	 	 
	 	Newel Trading Group LLC
	 	 	 
	 	By:	/s/
    Newel Trading Group LLC
	 	Name:	 
	 	Title:	 

 

    	 

     

    

 

Exhibit
A

 

NOTICE
OF CONVERSION

 

The
undersigned hereby elects to convert principal under the Convertible Debenture of Balance Labs, Inc. (the “Company”)
due on April 1, 2017 if not previously repaid by the Company or converted into shares of common stock of the Company (the “Common
Shares”), according to the conditions hereof, as of the date written below. If the Common Shares are to be issued in
the name of a person other than the undersigned, the undersigned will pay all transfer taxes payable with respect thereto and
is delivering herewith such certificates and opinions as reasonably requested by the Company in accordance therewith. No fee will
be charged to the holder for any conversion, except for such transfer taxes, if any.

 

By
the delivery of this Notice of Conversion the undersigned represents and warrants to the Company that its ownership of the Common
Shares does not exceed the amounts determined in accordance with Section 13(d) of the Exchange Act.

 

The
undersigned agrees to comply with the prospectus delivery requirements under the applicable securities laws in connection with
any transfer of the aforesaid Common Shares.

 

Conversion
calculations:

 

	 	Date
    to Effect Conversion: 	 

 

	 	Principal
    Amount of Debenture to be Converted:	 

 

	 	Accrued
    Interest: 	 

 

	 	Number
    of Common Shares to be issued:	 

 

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

 

COMMON
STOCK PURCHASE WARRANT

 

Balance
Labs, inc.

 

	Warrant
    Shares: 2,000,000	 	  Issue
    Date: April 1, 2016

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, NEWEL TRADING GROUP, LLC
or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time on or prior to the close of business on April 1, 2019 (the “Termination
Date”) but not thereafter, to subscribe for and purchase from Balance Labs, Inc., a Delaware corporation (the “Company”),
up to 2,000,000 shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase
price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).

 

Section
1.Definitions. Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that
certain Investment Agreement (the “Agreement”), dated April 1, 2016, between the Company and the Holder.

 

Section
2.Exercise.

 

a)Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate
by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed
facsimile copy of the Notice of Exercise in the form annexed hereto and within three (3) Trading Days of the date said Notice
of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the shares
thereby purchased by wire transfer or cashier’s check drawn on a United States bank or, if available, pursuant to the cashless
exercise procedure specified in Section 2(c) below. No ink-original Notice of Exercise shall be required, nor shall any medallion
guarantee (or other type of guarantee or notarization) of any Notice of Exercise form be required. Notwithstanding anything herein
to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased
all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender
this Warrant to the Company for cancellation within three (3) Trading Days of the date the final Notice of Exercise is delivered
to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal
to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of
Warrant Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within
one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and
agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder,
the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face
hereof.

 

    	 	1	 

    	 

    

 

b)Exercise
Price. The exercise price per share of the Common Stock under this Warrant shall be $3.50, subject to adjustment hereunder
(the “Exercise Price”).

 

 c) Mechanics of Exercise.

 

i.Delivery
of Warrant Shares Upon Exercise. Warrant Shares purchased hereunder shall be issued by the Transfer Agent to the Holder.

 

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

 

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

 

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

 

d)Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and
any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates), would beneficially own
in excess of the Beneficial Ownership Limitation (as defined below). The “Beneficial Ownership Limitation”
shall be 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares
of Common Stock issuable upon exercise of this Warrant. The Holder, upon not less than 61 days’ prior notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(d), provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(d)
shall continue to apply. Any such increase or decrease will not be effective until the 61st day after such notice is
delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict
conformity with the terms of this Section 2(d) to correct this paragraph (or any portion hereof) which may be defective or inconsistent
with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to
properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this
Warrant.

 

    	 	2	 

    	 

    

 

Section
3.Certain Adjustments.

 

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

  

b)Price
Protection; Reset of Warrant Price. If and whenever on or after the date hereof and through the 18 month anniversary of the
date hereof, the Company issues or sells any shares of Common Stock or securities convertible into Common Stock, other than in
connection with an Exempted Issuance (as defined below), for a consideration per share of Common Stock (the “New Issuance
Price”) less than a price equal to $3.50, then immediately after such dilutive issuance, the Warrant Price then in effect
shall be reduced to an amount equal to the greater of (i) the New Issuance Price or (ii) $1.00. Exempted Issuance shall mean (i)
full or partial consideration in connection with a strategic merger, acquisition, consolidation or purchase of substantially all
of the securities or assets of a corporation or other entity so long as such issuances are not for the purpose of raising capital,
(ii) the Company’s issuance of securities in connection with a bona fide strategic license agreements and other partnering
arrangements with an independent third party in a similar business as the Company so long as such issuances are not for the purpose
of raising capital, and (iii) the Company’s issuance of Common Stock or the issuances or grants of options to purchase Common
Stock of up to 10% of the Company’s outstanding shares to employees, directors, and consultants.

 

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

 

d)Notice
to Holder.

 

i.Adjustment
to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall
promptly mail to the Holder a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the
number of Warrant Shares and setting forth a brief statement of the facts requiring such adjustment.

 

    	 	3	 

    	 

    

 

ii.Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be mailed to the Holder at its last
address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record
or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such
dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of
the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become
effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange
their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation,
merger, sale, transfer or share exchange; provided that the failure to mail such notice or any defect therein or in the mailing
thereof shall not affect the validity of the corporate action required to be specified in such notice. The Holder shall remain
entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering
such notice except as may otherwise be expressly set forth herein.

 

Section
4.Transfer of Warrant.

 

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

 

    	 	4	 

    	 

    

 

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

 

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

 

d)Transfer
Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer
of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and
under applicable state securities or blue sky laws or (ii) eligible for resale pursuant to Rule 144.

 

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

 

Section
5.Call. Notwithstanding anything herein to the contrary, the Company, at its option, may call up to one hundred
percent (100%) of this Warrant at an exercise price of $3.50 per Warrant Share by providing the Holder ten (10) day written
notice if (A) the per share market value of the Common Shares is equal to or greater than $7.50 (as may be adjusted for
any stock splits or combinations of the Common Stock) for consecutive fifteen (15) trading days (“Lookback Period”)
and (B) the average daily trading volume for the Common Stock exceeds 50,000 shares during the Lookback Period.

 

    	 	5	 

    	 

    

 

 Section
6.Miscellaneous.

 

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

 

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

 

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

 

d)Authorized
Shares.

 

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

 

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

 

    	 	6	 

    	 

    

 

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

 

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

 

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

 

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

 

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

 

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

 

    	 	7	 

    	 

    

 

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

 

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

 

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

 

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

 

[Signature
Page Follows]

 

    	 	8	 

    	 

    

 

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

 

	 	Balance labs, inc.
	 	 
	 	By:	/s/ Michael D. Farkas
	 	Name:	 Michael D. Farkas
	 	Title:	CEO

  

    	 	9	 

    	 

    

 

NOTICE
OF EXERCISE

 

 To:balance
labs, inc.

 

(1)The
undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only
if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes,
if any.

 

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

 

[  ] in lawful money of the United States; or

 

[  ] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the cashless exercise procedure set forth in subsection 2(c).

 

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

_______________________________

  

The
Warrant Shares shall be delivered to the following address:

 

_______________________________

  

_______________________________

  

_______________________________

 

_______________________________

 

 

[SIGNATURE
OF HOLDER]

  

Name
of Investing Entity: _______________________________________________________________________

 

Signature
of Authorized Signatory of Investing Entity: _________________________________________________

 

Name
of Authorized Signatory: ___________________________________________________________________

 

Title
of Authorized Signatory: ____________________________________________________________________

 

Date:
_______________________________________________________________________________________

 

    	 	 	 

    	 

    

 

EXHIBIT
B

 

ASSIGNMENT
FORM

 

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

 

FOR
VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

  

	Name:	
	 	(Please
    Print)
	 	 
	Address:	
	 	(Please
    Print)
	 	 
	Dated:
    _______________ __, ______	 
	Holder’s
    Signature: ______________________	 
	Holder’s
    Address:  _______________________

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