Document:

Exhibit
10.1

 

FIRST
AMENDMENT TO SECOND AMENDED AND RESTATED

CREDIT AND GUARANTY AGREEMENT 

  

THIS
FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AND GUARANTY AGREEMENT (this “Amendment”) is entered
into as of June 14, 2018 by and among MERIDIAN WASTE OPERATIONS, INC., a New York corporation (“Operations”),
MOBILE SCIENCE TECHNOLOGIES, INC., a Georgia corporation (“Mobile”), ATTIS HEALTHCARE, LLC, a South Carolina
limited liability company (“Healthcare”), INTEGRITY LAB SOLUTIONS, LLC, an Oklahoma limited liability company
(“Integrity”), RED X MEDICAL LLC, a Georgia limited liability company (“Red X”), WELNESS
BENEFITS, LLC, an Oklahoma limited liability company (“Welness”), LGMG, LLC, an Oklahoma limited liability company
(“LGMG”), ATTIS INNOVATIONS, LLC, a Georgia limited liability company (“Innovations”), and
ADVANCED LIGNIN BIOCOMPOSITES LLC, a Minnesota limited liability company (“Advanced Lignin”), ATTIS ENVICARE
MEDICAL WASTE, LLC, a Georgia limited liability company (“Envicare”), ATTIS GENETICS, LLC, a Georgia limited
liability company (“Genetics”), ATTIS FEDERAL LABS, LLC, an Oklahoma limited liability company (“Federal
Labs”), ATTIS COMMERCIAL LABS, LLC, an Oklahoma limited liability company (“Commercial Labs”, and
together with Operations, Mobile, Healthcare, Integrity, Red X, Welness, LGMG, Innovations, Advanced Lignin, Envicare, Genetics,
and Federal Labs the “Companies” and each, a “Company”), ATTIS INDUSTRIES INC., a New York
corporation (“Holdings”) and CERTAIN SUBSIDIARIES OF HOLDINGS, as Guarantors, the Lenders party hereto from
time to time and GOLDMAN SACHS SPECIALTY LENDING GROUP, L.P. (“GSSLG”), as Administrative Agent (in such capacity,
“Administrative Agent”), Collateral Agent (in such capacity, “Collateral Agent”), and Lead
Arranger.

 

RECITALS

 

A.
 The Companies, Holdings, Lenders and Administrative Agent are parties to that certain
Second Amended and Restated Credit and Guaranty Agreement, dated as of April 20, 2018 (as amended, restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined
shall have the meanings assigned to such terms in the Credit Agreement), pursuant to which the Lenders have made certain financial
accommodations available to the Companies; and

 

B. The
Companies have requested that the Lenders amend certain provisions of the Credit Agreement and waive certain Events of Default,
and, subject to the terms and conditions hereof, the Lenders executing this Amendment are willing to do so.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, and intending to be legally bound,
the parties hereto agree as follows:

 

A.
EXTENSION OF POST-CLOSING DEADLINES

 

1.
At your request, subject to the terms and conditions set forth herein, effective as of the date hereof, the Administrative Agent
and Lenders hereby

 

(i)
extend the date for satisfaction of item 2 set forth on Schedule 5.15 (i.e., satisfaction of all Real Estate Mortgage Requirements
with respect to the Real Estate Asset set forth on Schedule 3.1 of the Credit Agreement) from May 20, 2018, to June 30, 2018 (or
to such later date as agreed to in writing (including by email) by the Administrative Agent in its sole discretion),

  

     

    

    

  

(ii)
extend the date for satisfaction of item 3 set forth on Schedule 5.15 (i.e., delivery of Control Agreements with respect to certain
Deposit Accounts) from May 20, 2018, to June 30, 2018 (or to such later date as agreed to in writing (including by email) by the
Administrative Agent in its sole discretion), and

 

(iii)
extend the date for delivery of the consolidated and consolidating balance sheet of Holdings and its Subsidiaries as at the end
of months of March 2018 and April 2018 and the related consolidated and consolidating statements of income, consolidated statements
of stockholders’ equity and consolidated statements of cash flows of Holdings and its Subsidiaries for such months, as required
pursuant to Section 5.1(a) of the Credit Agreement, to July 14, 2018 (or to such later date as agreed to in writing (including
by email) by the Administrative Agent in its sole discretion).

 

2. At
your request, subject to the terms and conditions set forth herein, if (i) no Default or Event of Default exists or is continuing
on June 30, 2018, and (ii) the Companies shall have made the interest payment that is due and payable on June 30, 2018, then the
Installment that would otherwise be due and payable on June 30, 2018 shall instead be due and payable on August 31, 2018, notwithstanding
anything to the contrary in Section 2.11 of the Credit Agreement.

 

B.
 WAIVERS 

 

At
your request, the Administrative Agent and Lenders hereby waive the Events of Default that have occurred and are continuing

 

(i) under
Section 8.1(a) of the Credit Agreement due to the failure of the Companies to

 

(a) pay
interest in the aggregate amount of $473,947.52 for the month ending May 31, 2018, as required by Section 2.7(e) of the Credit
Agreement; provided that such interest shall be paid in kind by adding such amount to the outstanding principal amount of the
Term Loan in accordance with Section E(1) below; and

 

(b) timely
make the interest payment of $22,383.30 for the period from April 20, 2018 through April 30, 2018, within one Business day of
the Interest Payment Date, as required by Section 2.7(e) of the Credit Agreement; and

 

(ii) under
Section 8.1(c) of the Credit Agreement due to the failure of the Companies to

 

(a) cause
the Real Estate Asset set forth on Schedule 3.1 of the Credit Agreement to be subject to a Mortgage to secure the obligations
and otherwise satisfy the Real Estate Mortgage Requirements with respect to such Real Estate Asset on or prior to 30 days following
the Restatement Date, as required by Section 5.15 of the Credit Agreement;

  

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(b) cause
each Wells Fargo Deposit Account listed on Schedule 4.4.4 of the Security Agreement to be a Controlled Account on or prior to
30 days following the Restatement Date, as required by Section 5.15 of the Credit Agreement;

 

(c) deliver
to Administrative Agent the consolidated and consolidating balance sheet of Holdings and its Subsidiaries as at the end of month
of March 2018 and the related consolidated and consolidating statements of income, consolidated statements of stockholders’
equity and consolidated statements of cash flows of Holdings and its Subsidiaries for such month, as required by Section 5.1(a)
of the Credit Agreement; and

 

(d) comply
with the requirements of Sections 5.15 and 6.7 of the Credit Agreement in connection with the acquisitions of or investments in
CleanTech Corporation, FLUX Carbon LLC, Noveda Technologies, Inc., Genarex FD LLC, and the issuance of preferred Capital Stock
in connection therewith.

 

The
waivers set forth in this Section B are limited to their terms and are not and shall not be deemed to be a waiver of any other
Default or Event of Default or a consent to departure from any term of the Credit Agreement, including, without limitation, any
future failure to comply with the requirements of Section 5.15 of the Credit Agreement as extended in this Amendment or any other
outstanding Default or Event of Default regardless of whether or not the Administrative Agent or Lenders have received notice
of such Defaults and Events of Default. The Administrative Agent and Lenders reserve all of their rights and remedies under the
Credit Documents and applicable law with respect to any other Defaults or Events of Default.

 

C.
CONDITIONS TO EFFECTIVENESS 

 

Notwithstanding
any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood
and agreed that this Amendment shall not become effective, the Credit Parties shall have no rights under this Amendment, until
Administrative Agent shall have received each of the following:

 

(i)
reimbursement or payment of its costs and expenses incurred in connection with this Amendment or the Credit Agreement (including
reasonable fees, charges and disbursements of counsel to Administrative Agent) to the extent invoiced prior to the date hereof;
and

 

(ii) executed
counterparts to this Amendment from each Company, each other Credit Party, and each of the Lenders.

  

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D.
REPRESENTATIONS

 

To
induce the Lenders and Administrative Agent to enter into this Amendment, each Credit Party hereby represents and warrants to
the Lenders and the Administrative Agent that:

 

1. The
execution, delivery and performance by such Credit Party of this Amendment (a) are within each Credit Party’s corporate
or limited liability company power; (b) have been duly authorized by all necessary corporate, limited liability company and/or
shareholder action, as applicable; (c) are not in contravention of any provision of any Credit Party’s certificate
of incorporation or formation, or bylaws or other organizational documents; (d) do not violate any law or regulation, or
any order or decree of any Governmental Authority; (e) do not conflict with or result in the breach or termination of, constitute
a default under or accelerate any performance required by, any indenture, mortgage, deed of trust, lease, agreement or other instrument
to which any Credit Party or any of its Subsidiaries is a party or by which any Credit Party or any such Subsidiary or any of
their respective property is bound; (f) do not result in the creation or imposition of any Lien upon any of the property of any
Credit Party or any of its Subsidiaries; and (g) do not require the consent or approval of any Governmental Authority or
any other person; and

 

2. This
Amendment has been duly executed and delivered for the benefit of or on behalf of each Credit Party and constitutes a legal, valid
and binding obligation of each Credit Party, enforceable against such Credit Party in accordance with its terms except as the
enforceability hereof may be limited by bankruptcy, insolvency, reorganization, moratorium and other laws affecting creditors’
rights and remedies in general.

 

E.
OTHER AGREEMENTS

 

1. Interest.
On the date hereof, an aggregate amount equal to $473,947.52, representing the interest accrued but unpaid through May 31, 2018,
shall be paid in kind by adding the amount of such accrued interest to the outstanding principal amount of the Term Loan as of
May 31, 2018. From and after such payment in kind, such capitalized interest shall be treated as a portion of the Term Loans for
all purposes hereunder. After giving effect to such payment in kind, the aggregate outstanding principal balance of the Term Loans,
as of the date hereof, is equal to $8,632,281.31.

 

2. Amendment
Fee. The Companies jointly and severally agree to pay to GSSLG, solely for its own account, an amendment fee in an amount
equal to $200,000 (the “Amendment Fee”). The Amendment Fee shall be fully earned and payable in full on January
1, 2019, shall be nonrefundable when paid and in addition to any other fees, costs and expenses payable pursuant to the Credit
Agreement or the other Credit Documents, including without limitation, the fees set forth in the Fee Letter; provided, however,
the Amendment Fee shall be waived if all Guaranteed Obligations have been indefeasibly paid in full in cash on or prior to December
31, 2018 or if the Companies pay the amount pursuant to paragraph E.3 hereof pursuant to the conditions of such paragraph.

 

3. Payment.
Notwithstanding anything to the contrary contained in the Credit Agreement or other Credit Documents, if, on or before August
14, 2018, the Companies pay Lenders an amount equal to $6,000,000 plus any unpaid fees under Section C(i) hereof, the Companies
shall be released from any obligation to pay any additional principal amounts under the Credit Agreement and Lenders and Agent
shall release all liens and security interest securing the Obligations.

 

4. Joinders.
On or prior to June 30, 2018 (or such later date consented to by the Administrative Agent in writing (including by email)), the
Credit Parties shall cause each of CleanTech Corporation, FLUX Carbon LLC, Noveda Technologies, Inc., Genarex FD LLC, to join
the Credit Agreement and other Credit Documents as a Credit Party and to satisfy the requirements of Section 5.10 of the Credit
Agreement.

  

    	 	4	 

    

    

 

5. Reaffirmation
of Obligations. Each Credit Party hereby (i) reaffirms all of its obligations owing to the Administrative Agent and Lenders
under each Credit Document, and (ii) covenants and agrees that so long as any Commitment is in effect and until payment in full
of all Obligations, each Credit Party shall perform, and shall cause each of its Subsidiaries to perform, all obligations under
the Credit Agreement, as amended hereby, and the other Credit Documents.

 

6. Continuing
Effectiveness of Credit Documents. As amended hereby, all terms of the Credit Agreement and the other Credit Documents shall
be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Credit
Parties party thereto and each Credit Party reaffirms and ratifies all terms of the Credit Agreement, as amended hereby, and other
Credit Documents. To the extent any terms and conditions in any of the other Credit Documents shall contradict or be in conflict
with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby
deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement as modified and amended hereby.
Upon the effectiveness of this Amendment such terms and conditions are hereby deemed modified and amended accordingly to reflect
the terms and conditions of the Credit Agreement as modified and amended hereby.

 

7. Reaffirmation
of Guaranty. Each Guarantor consents to the execution and delivery by the Companies of this Amendment and the consummation
of the transactions described herein, and ratifies and confirms the terms of the Guaranty to which such Guarantor is a party with
respect to the indebtedness now or hereafter outstanding under the Credit Agreement as amended hereby and all promissory notes
issued thereunder. Each Guarantor acknowledges that, notwithstanding anything to the contrary contained herein or in any other
document evidencing any indebtedness of any Company to the Lenders or any other obligation of any Company, or any actions now
or hereafter taken by the Lenders with respect to any obligation of any Company, the Guaranty to which such Guarantor is a party
(i) is and shall continue to be a primary obligation of such Guarantor, (ii) is and shall continue to be an absolute, unconditional,
continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full force and effect in accordance with
its terms. Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability
of any Guarantor under the Guaranty to which such Guarantor is a party.

 

8. Acknowledgment
of Perfection of Security Interest. Each Credit Party hereby acknowledges that, as of the date hereof, the security interests
and liens granted to Administrative Agent and the Lenders under the Credit Agreement and the other Credit Documents are in full
force and effect, are properly perfected to the extent required under the Collateral Documents and are enforceable in accordance
with the terms of the Credit Agreement and the other Credit Documents.

 

9. Effect
of Agreement. Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, and the other Credit
Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations
of the Credit Parties to the Lenders and Administrative Agent. Except as expressly provided herein, the execution, delivery and
effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement,
nor constitute a waiver of any provision of the Credit Agreement. This Amendment shall constitute a Credit Document for all purposes
of the Credit Agreement.

  

    	 	5	 

    

    

 

10. Governing
Law. This Amendment shall be governed by,
and construed in accordance with, the internal laws of the State of New York and all applicable federal laws of the United States
of America.

 

11. No
Novation. This Amendment is not intended
by the parties to be, and shall not be construed to be, a novation of the Credit Agreement and the other Credit Documents or an
accord and satisfaction in regard thereto.

 

12. Costs
and Expenses. The Companies agree to pay on demand all costs and expenses of Administrative Agent in connection with the preparation,
execution and delivery of this Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of outside
counsel for Administrative Agent with respect thereto.

 

13. Counterparts.
This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall
be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument. Delivery of
an executed counterpart of this Amendment by facsimile transmission, electronic transmission (including delivery of an executed
counterpart in .pdf format) shall be as effective as delivery of a manually executed counterpart hereof.

 

14. Binding
Nature. This Amendment shall be binding upon
and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns. No third party
beneficiaries are intended in connection with this Amendment.

 

15. Entire
Understanding. This Amendment sets forth
the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotiations
or agreements, whether written or oral, with respect thereto.

 

16. Release. Each
Credit Party hereby releases, acquits, and forever discharges Administrative Agent and each of the Lenders, and each and
every past and present subsidiary, affiliate, stockholder, officer, director, agent, servant, employee, representative, and
attorney of Administrative Agent and the Lenders, from any and all claims, causes of action, suits, debts, liens,
obligations, liabilities, demands, losses, costs and expenses (including reasonable attorneys' fees) of any kind, character,
or nature whatsoever, known or unknown, fixed or contingent, which such Credit Party may have or claim to have now or which
may hereafter arise out of or connected with any act of commission or omission of Administrative Agent or the Lenders
existing or occurring prior to the date of this Amendment or any instrument executed prior to the date of this Amendment
including, without limitation, any claims, liabilities or obligations arising with respect to the Credit Agreement or the
other of the Credit Documents. The provisions of this paragraph shall be binding upon each Credit Party and shall inure to
the benefit of Administrative Agent, the Lenders, and their respective heirs, executors, administrators, successors and
assigns.

 

[remainder
of page intentionally left blank]

  

    	 	6	 

    

    

 

IN
WITNESS WHEREOF, this Amendment has been duly executed as of the date first written above.

 

	 	ATTIS
    INDUSTRIES INC.
	 	 
	 	By:	/s/
    Jeffrey S. Cosman
	 	 	Name:  	Jeffrey S. Cosman
	 	 	Title:	 Chief Executive Officer
	 	 	 
	 	MERIDIAN
    WASTE OPERATIONS, INC.
	 	 
	 	By:	/s/ Jeffrey S.
    Cosman
	 	 	Name: 	Jeffrey S. Cosman
	 	 	Title: 	Chief Executive Officer
	 	 	 
	 	ADVANCED
    LIGNIN BIOCOMPOSITES LLC
	 	 	 
	 	By:	/s/ Jeffrey S.
    Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title: 	Manager
	 	 	 
	 	ATTIS
    ENVICARE MEDICAL WASTE, LLC
	 	 
	 	By:	/s/ Jeffrey S.
    Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Manager
	 	 	 
	 	ATTIS
    GENETICS, LLC
	 	 
	 	By:	/s/ Jeffrey S.
    Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Manager
	 	 	 
	 	ATTIS
    HEALTHCARE, LLC
	 	 
	 	By:	/s/ Jeffrey S.
    Cosman
	 	 	Name: 	Jeffrey S. Cosman
	 	 	Title: 	Manager

 

[Signature
Page to First Amendment to

Second Amended and Restated Credit and Guaranty Agreement]

  

     

    

    

  

	 	ATTIS INNOVATIONS, LLC
	 	 
	 	By: 	/s/ Jeffrey S. Cosman
	 	 	Name: 	 Jeffrey S. Cosman
	 	 	Title: 	Manager
	 	 
	 	MOBILE SCIENCE TECHNOLOGIES, INC.
	 	 
	 	By: 	/s/ Jeffrey S. Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Vice President
	 	 
	 	RED X MEDICAL LLC
	 	 
	 	By:	 /s/ Jeffrey S. Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title: 	Manager
	 	 
	 	INTEGRITY LAB SOLUTIONS, LLC
	 	 
	 	By:	 /s/ Jeffrey S. Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Manager
	 	 
	 	LGMG, LLC
	 	 
	 	By:	 /s/ Jeffrey S. Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Manager
	 	 
	 	WELNESS BENEFITS, LLC
	 	 
	 	By:	 
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title:	 Manager

 

[Signature
Page to First Amendment to

Second Amended and Restated Credit and Guaranty Agreement]

  

      

     

    

  

	 	ATTIS FEDERAL LABS, LLC
	 	 
	 	By: 	/s/ Jeffrey S. Cosman
	 	 	Name:  	Jeffrey S. Cosman
	 	 	Title:	 Manager
	 	 
	 	ATTIS COMMERCIAL LABS, LLC
	 	 
	 	By: 	/s/ Jeffrey S. Cosman
	 	 	Name:	 Jeffrey S. Cosman
	 	 	Title: 	Manager

 

[Signature
Page to First Amendment to

Second Amended and Restated Credit and Guaranty Agreement]

   

     

    

    

 

	 	GOLDMAN SACHS SPECIALTY LENDING GROUP, LP, as Administrative Agent
	 	 
	 	By:	/s/ Justin Betzen
	 	 	Name: 	Justin Betzen    
	 	 	Title:	Senior Vice President
	 	 
	 	GOLDMAN SACHS SPECIALTY LENDING HOLDINGS, INC., as a Lender
	 	 
	 	By:	/s/ Justin Betzen
	 	 	Name:	Justin Betzen
	 	 	Title:	Senior Vice President

 

[Signature
Page to First Amendment to

Second Amended and Restated Credit and Guaranty Agreement]Exhibit 4.9

 

Form of Representative’s Warrant

 

THE REGISTERED HOLDER
OF THIS PURCHASE WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT
AS HEREIN PROVIDED AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL
NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE EFFECTIVE
DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) A.G.P./Alliance Global Partners OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF A.G.P./Alliance Global Partners OR OF ANY SUCH UNDERWRITER OR SELECTED
DEALER.

 

THIS PURCHASE WARRANT
IS NOT EXERCISABLE PRIOR TO [_______], 2019 [DATE THAT IS ONE YEAR FROM THE EFFECTIVE DATE OF THE REGISTRATION STATEMENT]. VOID
AFTER 5:00 P.M., EASTERN TIME, [_______], 2021 [THE DATE THAT IS 42 MONTHS FOLLOWING THE EFFECTIVE DATE OF THE REGISTRATION
STATEMENT].

 

COMMON STOCK PURCHASE WARRANT

 

For the Purchase of [___] Shares of Common
Stock

of

SOLIGENIX, INC.

 

1. Purchase Warrant. THIS CERTIFIES
THAT, in consideration of funds duly paid by or on behalf of A.G.P./Alliance Global Partners or its assigns (“Holder”),
as registered owner of this Purchase Warrant, to Soligenix, Inc., a Delaware corporation (the “Company”), Holder
is entitled, at any time or from time to time from [      ], 2019 (the one-year anniversary of the Effective Date, the “Commencement
Date”), and at or before 5:00 p.m., Eastern time, [      ], 2021 (the date that is 42 months following the Effective Date,
the “Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in
part, up to [____] shares (the “Shares”) of common stock of the Company, par value $0.001 per share (the “Common
Stock”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day on which banking institutions
are authorized by law to close, then this Purchase Warrant may be exercised on the next succeeding day which is not such a day
in accordance with the terms herein. During the period ending on the Expiration Date, the Company agrees not to take any action
that would terminate this Purchase Warrant. This Purchase Warrant is initially exercisable at $____per Share; provided,
however, that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase
Warrant, including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as
therein specified. The term “Exercise Price” shall mean the initial exercise price or the adjusted exercise
price, depending on the context. For the avoidance of doubt, this Purchase Warrant will be exercisable at any time, and from time
to time, in whole or in part, during the four-year period commencing one (1) year from the Effective Date (as defined in the Underwriting
Agreement (as defined below)), which period shall not extend further than five (5) years from the Effective Date in compliance
with FINRA Rule 5110(f)(2)(G)(i).

 

    	 	1	 

     

    

 

2. Exercise.

 

2.1 Exercise Form.
In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly executed and completed and delivered
to the Company, together with this Purchase Warrant and payment of the Exercise Price for the Shares being purchased payable in
cash by wire transfer of immediately available funds to an account designated by the Company or by certified check or official
bank check. If the subscription rights represented hereby shall not be exercised at or before 5:00 p.m., Eastern time, on the Expiration
Date, this Purchase Warrant shall become and be void without further force or effect, and all rights represented hereby shall cease
and expire.

 

2.2 Cashless Exercise.
If at any time after the Commencement Date there is no effective registration statement registering, or no current prospectus available
for, the resale of the Shares by the Holder, then in lieu of exercising this Purchase Warrant at such time by payment of cash or
check payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive the number of Shares equal
to the value of this Purchase Warrant (or the portion thereof being exercised), by surrender of this Purchase Warrant to the Company,
together with the exercise form attached hereto, in which event the Company shall issue Shares to Holder in accordance with the
following formula:

 

	X	=	Y(A-B)	 
	A	 

 

	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share; and
	 	B	=	The Exercise Price.

 

For purposes of this
Section 2.2, the fair market value of a Share is defined as follows:

 

	 	(i)	if the Common Stock is traded on a securities exchange, the value shall be deemed to be the closing price on such exchange prior to the exercise form being submitted in connection with the exercise of the Purchase Warrant; or

 

	 	(ii)	if the Common Stock is actively traded over-the-counter, the value shall be deemed to be the closing bid prior to the exercise form being submitted in connection with the exercise of the Purchase Warrant; if there is no active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s Board of Directors.

 

    	 	2	 

     

    

 

2.3 Legend.
Each certificate for the securities purchased under this Purchase Warrant shall bear a legend as follows unless such securities
have been registered under the Securities Act of 1933, as amended (the “Securities Act”):

 

“The securities
represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), or applicable state law. Neither the securities nor any interest therein may be offered for sale, sold or otherwise
transferred except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from registration
under the Securities Act and applicable state law which, in the opinion of counsel to the Company, is available.”

 

2.4 Cash Payment.
For the avoidance of doubt, the Company shall not be required to make any cash payments or net cash settlement to any registered
holder in lieu of issuance of Shares.

 

3. Transfer.

 

3.1 General Restrictions.
The registered Holder of this Purchase Warrant agrees by his, her or its acceptance hereof, that this Purchase Warrant and the
securities issuable hereunder shall not be sold during the Offering, or sold, transferred, assigned, pledged, or hypothecated,
or be the subject of any hedging, short sale, derivative, put, or call transaction that would result in the effective economic
disposition of this Purchase Warrant or the securities issuable hereunder by any person for a period of one hundred eighty (180)
days immediately following the Effective Date (as defined in the Underwriting Agreement (as defined below)), except as provided
for in FINRA Rule 5110(g)(2).

 

On and after 180 days
after the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities laws.
In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly executed
and completed, together with the Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith. The
Company shall within five (5) Business Days transfer this Purchase Warrant on the books of the Company and shall execute and deliver
a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right to purchase
the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any such assignment.

 

3.2 Restrictions
Imposed by the Securities Act. The securities evidenced by this Purchase Warrant shall not be transferred unless and until:
(i) the Company has received the opinion of counsel for the Holder that the securities may be transferred pursuant to an exemption
from registration under the Securities Act and applicable state securities laws, the availability of which is established to the
reasonable satisfaction of the Company (the Company hereby agreeing that the opinion of Gracin & Marlow, LLP shall be deemed
satisfactory evidence of the availability of an exemption), or (ii) a registration statement or a post-effective amendment to the
registration statement relating to the offer and sale of such securities has been filed by the Company and declared effective by
the U.S. Securities and Exchange Commission (the “Commission”) and compliance with applicable state securities
law has been established.

 

    	 	3	 

     

    

 

4. Registration Rights.

 

4.1 Reserved.

 

4.2 “Piggy-Back”
Registration.

 

4.2.1 Grant of Right.
In addition to the demand right of registration described in Section 4.1 hereof, the Holder shall have the right, for a period
of no more than seven (7) years from the date of effectiveness of the registration statement in accordance with FINRA Rule 5110(f)(2)(G)(v),
to include the Shares underlying the Purchase Warrants (collectively, the “Registrable Securities”) as part
of any other registration of securities filed by the Company (other than in connection with a transaction contemplated by Rule
145(a) promulgated under the Securities Act or pursuant to Form S-8 or any equivalent form); provided, however, that
if, solely in connection with any primary underwritten public offering for the account of the Company, the managing underwriter(s)
thereof shall, in its reasonable discretion, impose a limitation on the number of shares of Common Stock which may be included
in the registration statement because, in such underwriter(s)’ judgment, marketing or other factors dictate such limitation
is necessary to facilitate public distribution, then the Company shall be obligated to include in such registration statement only
such limited portion of the Registrable Securities with respect to which the Holder requested inclusion hereunder as the underwriter
shall reasonably permit. Any exclusion of Registrable Securities shall be made pro rata among the Holders seeking to include Registrable
Securities in proportion to the number of Registrable Securities sought to be included by such Holders; provided, however,
that the Company shall not exclude any Registrable Securities unless the Company has first excluded all outstanding securities,
the holders of which are not entitled to inclusion of such securities in such registration statement or are not entitled to pro
rata inclusion with the Registrable Securities.

 

4.2.2 Terms. The
Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to Section 4.2.1 hereof,
but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to
represent them in connection with the sale of the Registrable Securities. In the event of such a proposed registration, the Company
shall furnish the then Holders of outstanding Registrable Securities with not less than thirty (30) days written notice prior to
the proposed date of filing of such registration statement. Such notice to the Holders shall continue to be given for each registration
statement filed by the Company until such time as all of the Registrable Securities have been sold by the Holder. The holders of
the Registrable Securities shall exercise the “piggy-back” rights provided for herein by giving written notice within
ten (10) days of the receipt of the Company’s notice of its intention to file a registration statement. Except as otherwise
provided in this Purchase Warrant, there shall be no limit on the number of times the Holder may request registration under this
Section 4.2.2; provided, however, that such registration rights shall terminate on the sixth anniversary of the Commencement
Date.

 

    	 	4	 

     

    

 

4.3
General Terms.

 

4.3.1 Indemnification.
The Company shall indemnify the Holder(s) of the Registrable Securities to be sold pursuant to any registration statement hereunder
and each person, if any, who controls such Holders within the meaning of Section 15 of the Securities Act or Section 20 (a) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), against all loss, claim, damage, expense or
liability (including all reasonable attorneys’ fees and other expenses reasonably incurred in investigating, preparing or
defending against any claim whatsoever) to which any of them may become subject under the Securities Act, the Exchange Act or otherwise,
arising from such registration statement but only to the same extent and with the same effect as the provisions pursuant to which
the Company has agreed to indemnify the Underwriters contained in Section 5.1 of the Underwriting Agreement between the Underwriters
and the Company, dated as of [___], 2018 (the “Underwriting Agreement”). The Holder(s) of the Registrable Securities
to be sold pursuant to such registration statement, and their successors and assigns, shall severally, and not jointly, indemnify
the Company, against all loss, claim, damage, expense or liability (including all reasonable attorneys’ fees and other expenses
reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they may become subject under
the Securities Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders, or their
successors or assigns, in writing, for specific inclusion in such registration statement to the same extent and with the same effect
as the provisions contained in Section 5.2 of the Underwriting Agreement pursuant to which the Underwriters have agreed to indemnify
the Company.

 

4.3.2 Exercise of
Purchase Warrants. Nothing contained in this Purchase Warrant shall be construed as requiring the Holder(s) to exercise their
Purchase Warrants prior to or after the initial filing of any registration statement or the effectiveness thereof.

 

4.3.3 Documents Delivered
to Holders. The Company shall furnish to each Holder participating in any of the foregoing offerings and to each underwriter
of any such offering, if any, a signed counterpart, addressed to such Holder or underwriter, of: (i) an opinion of counsel to the
Company, dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under any underwriting agreement related thereto), and (ii) a “cold comfort”
letter dated the effective date of such registration statement (and, if such registration includes an underwritten public offering,
a letter dated the date of the closing under the underwriting agreement) signed by the independent registered public accounting
firm or firms which has issued a report on the Company’s financial statements included in such registration statement, in
each case covering substantially the same matters with respect to such registration statement (and the prospectus included therein)
and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial statements,
as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to underwriters in
underwritten public offerings of securities. The Company shall also deliver promptly to each Holder participating in the offering
requesting the correspondence and memoranda described below and to the managing underwriter, if any, copies of all correspondence
between the Commission and the Company, its counsel or auditors and all memoranda relating to discussions with the Commission or
its staff with respect to the registration statement and permit each Holder and underwriter to do such investigation, upon reasonable
advance notice, with respect to information contained in or omitted from the registration statement as it deems reasonably necessary
to comply with applicable securities laws or rules of FINRA. Such investigation shall include access to books, records and properties
and opportunities to discuss the business of the Company with its officers and independent auditors, all to such reasonable extent
and at such reasonable times as any such Holder shall reasonably request.

 

    	 	5	 

     

    

 

4.3.4 Underwriting
Agreement. The Company shall enter into an underwriting agreement with the managing underwriter(s), if any, selected by any
Holders whose Registrable Securities are being registered pursuant to this Section 4, which managing underwriter shall be reasonably
satisfactory to the Company. Such agreement shall be reasonably satisfactory in form and substance to the Company, each Holder
and such managing underwriters, and shall contain such representations, warranties and covenants by the Company and such other
terms as are customarily contained in agreements of that type used by the managing underwriter. The Holders shall be parties to
any underwriting agreement relating to an underwritten sale of their Registrable Securities and may, at their option, require that
any or all the representations, warranties and covenants of the Company to or for the benefit of such underwriters shall also be
made to and for the benefit of such Holders. Such Holders shall not be required to make any representations or warranties to or
agreements with the Company or the underwriters except as they may relate to such Holders, their Shares and their intended methods
of distribution.

 

4.3.5 Documents to
be Delivered by Holder(s). Each of the Holder(s) participating in any of the foregoing offerings shall furnish to the Company
a completed and executed questionnaire provided by the Company requesting information customarily sought of selling security holders.

 

4.3.6 Damages.
Should the registration or the effectiveness thereof required by Sections 4.1 and 4.2 hereof be delayed by the Company or the Company
otherwise fails to comply with such provisions, the Holder(s) shall, in addition to any other legal or other relief available to
the Holder(s), be entitled to obtain specific performance or other equitable (including injunctive) relief against the threatened
breach of such provisions or the continuation of any such breach, without the necessity of proving actual damages and without the
necessity of posting bond or other security.

 

5. New Purchase Warrants to be Issued.

 

5.1 Partial Exercise
or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or assigned in whole or
in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase Warrant for cancellation,
together with the duly executed exercise or assignment form and funds sufficient to pay any Exercise Price and/or transfer tax
if exercised pursuant to Section 2.1 hereto, the Company shall cause to be delivered to the Holder without charge a new Purchase
Warrant of like tenor to this Purchase Warrant in the name of the Holder evidencing the right of the Holder to purchase the number
of Shares purchasable hereunder as to which this Purchase Warrant has not been exercised or assigned.

 

5.2 Lost Certificate.
Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant
and of reasonably satisfactory indemnification or the posting of a bond, the Company shall execute and deliver a new Purchase Warrant
of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction
shall constitute a substitute contractual obligation on the part of the Company.

 

    	 	6	 

     

    

 

6. Adjustments.

 

6.1 Adjustments
to Exercise Price and Number of Securities. The Exercise Price and the number of Shares underlying the Purchase Warrant shall
be subject to adjustment from time to time as hereinafter set forth:

 

6.1.1 Share Dividends;
Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding shares
of Common Stock is increased by a stock dividend payable in shares of Common Stock or by a split up of shares of Common Stock or
other similar event, then, on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion
to such increase in outstanding shares of Common Stock, and the Exercise Price shall be proportionately decreased.

 

6.1.2 Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of outstanding shares
of Common Stock is decreased by a consolidation, combination or reclassification of the shares of Common Stock or other similar
event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in proportion to such
decrease in outstanding shares of Common Stock, and the Exercise Price shall be proportionately increased.

 

6.1.3 Replacement
of Securities upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding shares of Common
Stock other than a change covered by Section 6.1.1 or 6.1.2 hereof or that solely affects the par value of such shares of Common
Stock, or in the case of any share reconstruction or amalgamation or consolidation of the Company with or into another corporation
(other than a consolidation or share reconstruction or amalgamation in which the Company is the continuing corporation and that
does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale
or conveyance to another corporation or entity of the property of the Company as an entirety or substantially as an entirety in
connection with which the Company is dissolved, the Holder of this Purchase Warrant shall have the right thereafter (until the
expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the same aggregate Exercise
Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other securities or property
(including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation, or consolidation,
or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares of the Company obtainable upon exercise
of this Purchase Warrant immediately prior to such event; and if any reclassification also results in a change in Shares covered
by Section 6.1.1 or 6.1.2, then such adjustment shall be made pursuant to Sections 6.1.1, 6.1.2 and this Section 6.1.3. The provisions
of this Section 6.1.3 shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations,
or consolidations, sales or other transfers.

 

6.1.4 Changes in Form
of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section 6.1,
and Purchase Warrants issued after such change may state the same Exercise Price and the same number of Shares as are stated in
the Purchase Warrants initially issued pursuant to this Agreement. The acceptance by any Holder of the issuance of new Purchase
Warrants reflecting a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the
Commencement Date or the computation thereof.

 

    	 	7	 

     

    

 

6.2
Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or amalgamation of
the Company with or into, another corporation (other than a consolidation or share reconstruction or amalgamation which does not
result in any reclassification or change of the outstanding shares of Common Stock), the corporation formed by such consolidation
or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental Purchase Warrant providing that
the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right thereafter (until the stated expiration
of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind and amount of shares of stock and other
securities and property receivable upon such consolidation or share reconstruction or amalgamation, by a holder of the number of
Shares of the Company for which such Purchase Warrant might have been exercised immediately prior to such consolidation, share
reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide for adjustments which shall
be identical to the adjustments provided for in this Section 6. The above provision of this Section shall similarly apply to successive
consolidations or share reconstructions or amalgamations.

 

6.3 Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of Shares upon the
exercise of the Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it being
the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case may
be, to the nearest whole number of Shares or other securities, properties or rights.

 

7. Reservation and Listing. The
Company shall at all times reserve and keep available out of its authorized shares of Common Stock, solely for the purpose of issuance
upon exercise of the Purchase Warrants, such number of Shares or other securities, properties or rights as shall be issuable upon
the exercise thereof. The Company covenants and agrees that, upon exercise of the Purchase Warrants and payment of the Exercise
Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall be duly
and validly issued, fully paid and non-assessable and not subject to preemptive rights of any shareholder. The Company further
covenants and agrees that upon exercise of the Purchase Warrants and payment of the exercise price therefor, all Shares and other
securities issuable upon such exercise shall be duly and validly issued, fully paid and non-assessable and not subject to preemptive
rights of any shareholder. As long as the Purchase Warrants shall be outstanding, the Company shall use its commercially reasonable
efforts to cause all Shares issuable upon exercise of the Purchase Warrants to be listed (subject to official notice of issuance)
on all national securities exchanges (or, if applicable, on the OTC Bulletin Board or any successor trading market) on which the
Shares issued to the public in the Offering may then be listed and/or quoted.

 

    	 	8	 

     

    

 

8. Certain Notice Requirements.

 

8.1 Holder’s
Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holders the right to vote or consent or to
receive notice as a shareholder for the election of directors or any other matter, or as having any rights whatsoever as a shareholder
of the Company. If, however, at any time prior to the expiration of the Purchase Warrants and their exercise, any of the events
described in Section 8.2 shall occur, then, in one or more of said events, the Company shall give written notice of such event
at least fifteen days prior to the date fixed as a record date or the date of closing the transfer books for the determination
of the shareholders entitled to such dividend, distribution, conversion or exchange of securities or subscription rights, or entitled
to vote on such proposed dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of
the closing of the transfer books, as the case may be. Notwithstanding the foregoing, the Company shall deliver to each Holder
a copy of each notice given to the other shareholders of the Company at the same time and in the same manner that such notice is
given to the shareholders.

 

8.2 Events Requiring
Notice. The Company shall be required to give the notice described in this Section 8 upon one or more of the following events:
(i) if the Company shall take a record of the holders of its Shares for the purpose of entitling them to receive a dividend or
distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of retained earnings,
as indicated by the accounting treatment of such dividend or distribution on the books of the Company, (ii) the Company shall offer
to all the holders of its Shares any additional shares of capital stock of the Company or securities convertible into or exchangeable
for shares of capital stock of the Company, or any option, right or warrant to subscribe therefor, or (iii) a dissolution, liquidation
or winding up of the Company (other than in connection with a consolidation or share reconstruction or amalgamation) or a sale
of all or substantially all of its property, assets and business shall be proposed.

 

8.3 Notice of Change
in Exercise Price. The Company shall, promptly after an event requiring a change in the Exercise Price pursuant to Section
6 hereof, send notice to the Holders of such event and change (“Price Notice”). The Price Notice shall describe
the event causing the change and the method of calculating same and shall be certified as being true and accurate by the Company’s
Chief Financial Officer.

 

8.4 Transmittal
of Notices. All notices, requests, consents and other communications under this Purchase Warrant shall be in writing and shall
be deemed to have been duly made when hand delivered, or mailed by express mail or private courier service: (i) if to the registered
Holder of the Purchase Warrant, to the address of such Holder as shown on the books of the Company, or (ii) if to the Company,
to following address or to such other address as the Company may designate by notice to the Holders:

 

If to the Holder:

 

A.G.P./Alliance Global Partners (“A.G.P.”)

590 Madison Avenue, 36th Floor

New York, New York 10022

Attn: Mr. David Bocchi, Managing Director of Investment Banking

Fax No.: (203) 662-9771

 

    	 	9	 

     

    

 

with a copy (which shall not constitute notice) to:

 

Gracin & Marlow, LLP

The Chrysler Building

405 Lexington Avenue, 26th Floor

New York, New York 10174

Attention: Leslie Marlow, Esq.

Fax No: (212) 208-4657

 

If to the Company:

 

Soligenix, Inc.

29 Emmons Drive, Suite B-10

Princeton, New Jersey 08540

Attention: Christopher J. Schaber, Ph.D., President
and Chief Executive Officer

Fax No: (609) 452-6467

 

with a copy (which shall not constitute notice) to:

 

Duane Morris LLP

200 South Biscayne Boulevard

Suite 3400

Miami, Florida 33131-2318

Attention: Driscoll R. Ugarte, Esq.

Fax: (561) 634-4260

 

9. Miscellaneous.

 

9.1 Amendments.
The Company and A.G.P. may from time to time supplement or amend this Purchase Warrant without the approval of any of the Holders
in order to cure any ambiguity, to correct or supplement any provision contained herein that may be defective or inconsistent with
any other provisions herein, or to make any other provisions in regard to matters or questions arising hereunder that the Company
and A.G.P. may deem necessary or desirable and that the Company and A.G.P. deem shall not adversely affect the interest of the
Holders. All other modifications or amendments shall require the written consent of and be signed by the party against whom enforcement
of the modification or amendment is sought.

 

9.2 Headings.
The headings contained herein are for the sole purpose of convenience of reference, and shall not in any way limit or affect the
meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

 

9.3. Entire Agreement.
This Purchase Warrant (together with the other agreements and documents being delivered pursuant to or in connection with this
Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to the subject matter hereof, and supersedes
all prior agreements and understandings of the parties, oral and written, with respect to the subject matter hereof.

 

    	 	10	 

     

    

 

9.4 Binding Effect.
This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the Holder and the Company and their permitted
assignees, respective successors, legal representative and assigns, and no other person shall have or be construed to have any
legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase Warrant or any provisions herein
contained.

 

9.5 Governing Law;
Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without giving effect to conflict of laws principles thereof. The Company hereby agrees
that any action, proceeding or claim against it arising out of, or relating in any way to this Purchase Warrant shall be brought
and enforced in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District
of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any
objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served
upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage
prepaid, addressed to it at the address set forth in Section 8 hereof. Such mailing shall be deemed personal service and shall
be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing
party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees
and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on
its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Agreement or the transactions contemplated hereby.

 

9.6 Waiver, etc.
The failure of the Company or the Holder to at any time enforce any of the provisions of this Purchase Warrant shall not be deemed
or construed to be a waiver of any such provision, nor to in any way affect the validity of this Purchase Warrant or any provision
hereof or the right of the Company or any Holder to thereafter enforce each and every provision of this Purchase Warrant. No waiver
of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase Warrant shall be effective unless set
forth in a written instrument executed by the party or parties against whom or which enforcement of such waiver is sought; and
no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be a waiver of any other or subsequent
breach, non-compliance or non-fulfillment.

 

9.7 Execution in
Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same
agreement, and shall become effective when one or more counterparts has been signed by each of the parties hereto and delivered
to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission or other electronic transmission.

 

9.8 Exchange Agreement.
As a condition of the Holder’s receipt and acceptance of this Purchase Warrant, Holder agrees that, at any time prior to
the complete exercise of this Purchase Warrant by Holder, if the Company and A.G.P. enter into an agreement (“Exchange
Agreement”) pursuant to which they agree that all outstanding Purchase Warrants will be exchanged for securities or cash
or a combination of both, then Holder shall agree to such exchange and become a party to the Exchange Agreement.

 

[Signature Page
Follows]

 

    	 	11	 

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Warrant to be signed by its duly authorized officer as of the _____ day of June, 2018.

 

	SOLIGENIX, INC.	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 

 

    	 	12	 

     

    

 

[Form to be used to exercise Purchase
Warrant]

 

Date: __________, 20___

 

The undersigned
hereby elects irrevocably to exercise the Purchase Warrant for ______ shares of common stock, par value $0.001 per share (the “Shares”),
of Soligenix, Inc., a Delaware corporation (the “Company”), and hereby makes payment of $____ (at the rate of
$____ per Share) in payment of the Exercise Price pursuant thereto. Please issue the Shares as to which this Purchase Warrant is
exercised in accordance with the instructions given below and, if applicable, a new Purchase Warrant representing the number of
Shares for which this Purchase Warrant has not been exercised.

 

or

 

The undersigned
hereby elects irrevocably to convert its right to purchase ___ Shares of the Company under the Purchase Warrant for ______ Shares,
as determined in accordance with the following formula:

 

	 	X	=	Y(A-B)	 
	A	 

 

	Where,	 	 	 
	 	X	=	The number of Shares to be issued to Holder;
	 	Y	=	The number of Shares for which the Purchase Warrant is being exercised;
	 	A	=	The fair market value of one Share which is equal to $_____; and
	 	B	=	The Exercise Price which is equal to $______ per share

 

The undersigned
agrees and acknowledges that the calculation set forth above is subject to confirmation by the Company and any disagreement with
respect to the calculation shall be resolved by the Company in its sole discretion.

 

Please issue
the Shares as to which this Purchase Warrant is exercised in accordance with the instructions given below and, if applicable, a
new Purchase Warrant representing the number of Shares for which this Purchase Warrant has not been converted.

 

Signature ____________________________________ 

 

Signature Guaranteed
___________________________

 

    	 	13	 

     

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

	Name: 	 	 
	 	(Print in Block Letters)	 
	 	 	 
	Address: 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

NOTICE: The signature
to this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or
any change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

    	 	14	 

     

    

 

[Form to be used to assign Purchase Warrant]

 

ASSIGNMENT

 

(To be executed by the registered Holder
to effect a transfer of the within Purchase Warrant):

 

FOR VALUE RECEIVED, __________________
does hereby sell, assign and transfer unto the right to purchase shares of common stock, par value $0.001 per share, of Soligenix,
Inc., a Delaware corporation (the “Company”), evidenced by the Purchase Warrant and does hereby authorize the
Company to transfer such right on the books of the Company.

 

Dated: __________, 20__

 

Signature ____________________________________ 

 

Signature Guaranteed ___________________________

 

NOTICE: The signature to this form must
correspond with the name as written upon the face of the within Purchase Warrant without alteration or enlargement or any change
whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership on
a registered national securities exchange.

 

    	 	15

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