Document:

Exhibit 10.1

 

FIRST
AMENDMENT AND WAIVER

 

This First Amendment and Waiver
(this “Amendment”) is made and entered into as of August 31, 2022 (the “Effective Date”) by and
among Aditxt, Inc., a Delaware corporation (the “Company”), the purchasers signatory to the Purchase Agreement (as
defined below) (each a, “Buyer” and collectively, the “Buyers”).

 

WHEREAS, pursuant to
Securities Purchase Agreements, dated as of August 4, 2022 and August 11, 2022 (as amended and in effect from time to time, including
any replacement agreement therefor, each a “Purchase Agreement”), among the Company and the Purchasers, the Company
may issue and sell up to $2,200,000.00 of 10% Senior Secured Promissory Notes (collectively the “August 2022 Notes”),
up to 2,200,000 shares of Common Stock as a commitment fee (collectively, the “August 2022 Commitment Shares”), as
well as common stock purchase warrants for the purchase of up to 10,000,000 shares of Common Stock (collectively, the “August
2022 Warrants”);

 

WHEREAS, the Company
and the Buyers desire to amend the August 2022 Warrants in order to (i) reduce the Exercise Price to $0.15 per share, and (ii) provide
that the August 2022 Warrants shall not be exercisable unless and until the Company obtains stockholder approval of the issuance of any
shares of common stock upon exercise of the August 2022 Warrants;

 

WHEREAS, the Company
and the Buyers desire to confirm the Buyers’ consent to the Company of the following (each, a “Subsequent Placement Exception”):
(i) the Company shall be permitted to raise up to an additional $2,000,000 in addition to the maximum contemplated amount of $2,200,000
under the Purchase Agreement under the in one or more capital raising transactions through the issuance of equity securities and/or debt
in the form of additional August 2022 Notes or other debt instruments that are subordinate and junior to the August 2022 Notes provided
that (a) the Company provide written notice with respect to such Subsequent Placement Exception that otherwise complies with the requirements
set forth in Section 4(d)(ii) of the Purchase Agreement, and (b) notwithstanding anything to the contrary in Section 4(d)(iii) of the
Purchase Agreement, the Buyers shall be required to deliver a Notice of Acceptance with respect to any such Subsequent Placement Exception
within twenty four (24) hours of such notice from the Company (ii) the Company shall not be required to apply any proceeds from such transactions
to repayment of the August 2022 Notes as required by Section 1.10 of the August 2022 Convertible Notes;

 

WHEREAS, pursuant to
(i) Section 8.4(e) of the Purchase Agreement, any provision of the Purchase Agreement may be waived or amended by an instrument in writing
signed by a Majority in Interest (as defined in the Security Agreement) and (ii) Section 9 of the August 2022 Warrant, the August 2022
Warrant may be amended by the written consent of the Holder (as defined in the August 2022 Warrant); and

 

 WHEREAS, the Company
and the Buyers desire to waive and amend certain provisions of the Purchase Agreement and August 2022 Warrants as set forth herein.

 

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NOW, THEREFORE, in consideration
of the mutual agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

 

1.   Definitions.
Capitalized terms used herein without definition shall have the meanings assigned to such terms in the Purchase Agreement and the August
2022 Warrant. This Amendment shall constitute a transaction document for all purposes of the Purchase Agreements, the August 2022 Notes
and the August 2022 Warrants and the other transaction documents.

 

2.   Amendment
to August 2022 Warrants.

 

 (a) The Exercise
Price shall be $0.15 per share, subject to adjustment as provided therein (including but not limited to cashless exercise).

 

 (b) The Commencement
Date shall mean the date on which the Company obtains approval by from the shareholders of the Company with respect to the issuance of
any Warrant Shares.

 

3.   Confirmation
of Consent; Waiver. The Purchasers hereby confirm their consent to Company for the Subsequent Placement Exception and hereby waive
any Events of Default due to any non-compliance or breach by the Company of Section 4(d) of the Purchase Agreement or Section 1.10 of
the August 2022 Convertible Notes, each such section as in effect immediately prior to the effectiveness of this Amendment.

 

4.   Conditions
to Effectiveness. This Amendment shall become effective upon receipt by the Company and the Purchasers of counterpart signatures
to this Amendment duly executed and delivered by the Company and the Buyers.

 

5.   No
Implied Amendment or Waiver. Except as expressly set forth in this Amendment, this Amendment shall not, by implication or otherwise,
limit, impair, constitute a waiver of or otherwise affect any rights or remedies of the Buyer under the Purchase Agreement, the August
2022 Note, the August 2022 Warrant or the other transaction documents, or alter, modify, amend or in any way affect any of the terms,
obligations or covenants contained in the Purchase Agreement, the August 2022 Note, the August 2022 Warrant or the other Transaction Documents,
all of which shall continue in full force and effect. Nothing in this Amendment shall be construed to imply any willingness on the part
of the Buyers to agree to or grant any similar or future amendment, consent or waiver of any of the terms and conditions of the Purchase
Agreement, the August 2022 Note, the August 2022 Warrant or the other transaction documents, except as contemplated hereby or as necessary
to accomplish the intent hereof.

 

6.   Counterparts.
This Amendment may be executed by the parties hereto in several counterparts, each of which shall be an original and all of which shall
constitute together but one and the same agreement. Delivery of an executed counterpart of a signature page of this Amendment by e-mail
(e.g., “pdf” or “tiff”) or fax transmission shall be effective as delivery of a manually executed counterpart
of this Amendment.

 

7.   Governing
Law. THIS AMENDMENT AND WAIVER SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE
TO CONTRACTS MADE AND TO BE PREPARED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES.

 

[Remainder of
Page Intentionally Left Blank.]

 

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IN WITNESS WHEREOF, the parties hereto
have caused this Amendment to be executed by their respective officers thereunto duly authorized as of the day and year first above written.

 

	ADITXT, INC.  	 
	 	 
	By: 	 	 
	Name: 	 Amro Albanna	 
	Title:	 Chief Executive Officer	 

 

	 	 
	as Buyer 	 
	 	 
	By:	 	 
	Name:  	 	 
	Title:Exhibit 10.3

 

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

 

COMMON STOCK
PURCHASE WARRANT

ADITXT, INC.

 

Warrant Shares: _____________

 

Date of Issuance: August 31, 2022 (“Issuance
Date”)

 

This COMMON
STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received (in connection with that certain fee letter,
dated as of August 31, 2022 (the “Fee Letter”), between ADITXT, INC., a Delaware corporation (the “Company”)
and _______________ (including any permitted and registered assigns, the “Holder”), is entitled, upon the terms and
subject to the limitations on exercise and the conditions hereinafter set forth, at any time during the Exercise Period, to purchase from
the Company, ___________ (the “Warrant Shares”) (whereby such number may be adjusted from time to time pursuant to
the terms and conditions of this Warrant) shares of common stock of the Company, par value per share $0.001 (the “Common Stock”
at the Exercise Price per share then in effect. This Warrant is issued by the Company as of the date hereof in connection with the Fee
Letter. In the event the Exercise Price (as defined in this Warrant) is reduced for any reason, including but not limited to pursuant
to Section 2 of this Warrant, the number of Warrant Shares issuable hereunder shall be increased such that the aggregate Exercise Price
payable hereunder, after taking into account the decrease in the Exercise Price, shall be equal to the aggregate Exercise Price prior
to such adjustment. The Company represents and warrants to the Holder that as of the Issuance Date that the Common Stock is not a “penny
stock” as defined in SEC Rule 240.3a51-1 (17 CFR § 240.3a51-1).

 

For purposes
of this Warrant, the term “Exercise Price” shall mean $0.15, subject to adjustment as provided herein (including but
not limited to cashless exercise), and the term “Exercise Period” shall mean the period commencing on the Commencement Date
(as defined in this Warrant) and ending on 5:00 p.m. eastern standard time on the date that is five (5) years after the Issuance Date.
“Commencement Date” shall mean the date on which the Company obtains approval from the shareholders of the Company with respect
to the issuance of any Warrant Shares in accordance with Nasdaq Rule 5635(d) (the “Shareholder Approval”).

 

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 1. EXERCISE OF WARRANT.

 

(a)   Mechanics
of Exercise. Subject to the terms and conditions hereof, the rights represented by this Warrant may be exercised in whole or in part
at any time or times during the Exercise Period by delivery of a written notice, in the form attached hereto as Exhibit A (the
“Exercise Notice”), of the Holder’s election to exercise this Warrant. The Holder shall not be required to deliver
the original Warrant in order to effect an exercise hereunder. 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. On or before the second Trading Day (the “Warrant
Share Delivery Date”) following the date on which the Holder sent the Exercise Notice to the Company or the Company’s
transfer agent, and upon receipt by the Company of payment to the Company of an amount equal to the applicable Exercise Price multiplied
by the number of Warrant Shares as to which all or a portion of this Warrant is being exercised (the “Aggregate Exercise Price”
and together with the Exercise Notice, the “Exercise Delivery Documents”) in cash or by wire transfer of immediately
available funds (or by cashless exercise, in which case there shall be no Aggregate Exercise Price provided), the Company shall (or direct
its transfer agent to) issue and deliver by overnight courier to the address as specified in the Exercise Notice, a certificate, registered
in the Company’s share register in the name of the Holder or its designee, for the number of shares of Common Stock to which the
Holder is entitled pursuant to such exercise (or deliver such shares of Common Stock in electronic format if requested by the Holder).
Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate purposes to have become the holder of record
of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date of delivery of the certificates
evidencing such Warrant Shares. If this Warrant is submitted in connection with any exercise and the number of Warrant Shares represented
by this Warrant submitted for exercise is greater than the number of Warrant Shares being acquired upon an exercise, then the Company
shall as soon as practicable and in no event later than three business days after any exercise and at its own expense, issue a new Warrant
(in accordance with Section 6) representing the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise
under this Warrant, less the number of Warrant Shares with respect to which this Warrant is exercised.

 

If the Company
fails to cause its transfer agent to issue to the Holder the respective shares of Common Stock by the respective Warrant Share Delivery
Date, then the Holder will have the right to rescind such exercise in Holder’s sole discretion in addition to all other rights and
remedies at law, under this Warrant, or otherwise.

 

If the Market
Price of one share of Common Stock is greater than the Exercise Price, then, unless there is an effective non-stale registration statement
of the Company which contains a prospectus that complies with Section 5(b) and Section 10 of the Securities Act of 1933 at the time of
exercise and covers the Holder’s immediate resale of all of the Warrant Shares at prevailing market prices (and not fixed prices)
without any limitation, the Holder may elect to receive Warrant Shares pursuant to a cashless exercise, in lieu of a cash exercise, equal
to the value of this Warrant determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of
this Warrant and an Exercise Notice, in which event the Company shall issue to Holder a number of Common Stock computed using the following
formula:

 

X = Y (A-B)

 

A

 

		Where	X	=	 the number of Shares to be issued to Holder.

 

		Y	=	 the number of Warrant Shares that the Holder elects to
purchase under this Warrant (at the date of such calculation).

 

		A	=	 the Market Price (at the date of such calculation).

 

		B	=	 Exercise Price (as adjusted to the date of such calculation).

 

(b)   No
Fractional Shares. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant
hereto. All Warrant Shares (including fractions) issuable upon exercise of this Warrant may be aggregated for purposes of determining
whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance
of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction
a sum in cash equal to the product resulting from multiplying the then-current fair market value of a Warrant Share by such fraction.

 

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(c)   Holder’s
Exercise Limitations. Notwithstanding anything to the contrary contained herein, 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 1 or otherwise, to the extent
that after giving effect to such issuance after exercise as set forth on the applicable Exercise Notice, the Holder (together with the
Holder’s affiliates (the “Affiliates”), and any other Persons acting as a group together with the Holder or any of the
Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership
Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the
Holder and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect
to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise
of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder or any of its Affiliates or Attribution Parties
and (ii) exercise or conversion of the unexercised or nonconverted portion of any other securities of the Company (including, without
limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the limitation contained
herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence,
for purposes of this Section 1(c), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the
rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Holder is solely responsible for any schedules
required to be filed in accordance therewith. In addition, a determination as to any group status as contemplated above shall be determined
in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section
1(c), in determining the number of outstanding shares of Common Stock, a Holder may rely on the number of outstanding shares of Common
Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B)
a more recent public announcement by the Company or (C) a more recent written notice by the Company or the Company’s transfer agent
setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within
two Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number
of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company,
including this Warrant, by the Holder or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares
of Common Stock was reported. The “Beneficial Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock
outstanding at the time of the respective calculation hereunder. In addition to the beneficial ownership limitations provided in this
Warrant, the sum of the number of shares of Common Stock that may be issued under this Warrant, shall be limited to 19.99% of the Company’s
outstanding shares of Common Stock as of the Issuance Date (the “Exchange Cap”), unless Shareholder Approval is obtained by
the Company to issue more than the Exchange Cap. The Exchange Cap shall be appropriately adjusted for any reorganization, recapitalization,
non-cash dividend, stock split (including forward and reverse), or other similar transaction. The limitations contained in this paragraph
shall apply to a successor holder of this Warrant.

 

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

 

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2.   ADJUSTMENTS.
The Exercise Price and the number of Warrant Shares shall be adjusted from time to time as follows:

 

(a)   Distribution
of Assets. If the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets)
to holders of shares of Common Stock, by way of return of capital or otherwise (including without limitation any distribution of cash,
stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate rearrangement or other similar
transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case:

 

(i)   any
Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders of shares
of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date, to a
price determined by multiplying such Exercise Price by a fraction (i) the numerator of which shall be the Closing Sale Price of the shares
of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution (as determined in good faith
by the Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator of which shall be the Closing
Sale Price of the shares of Common Stock on the Trading Day immediately preceding such record date; and

 

(ii)   the
number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to receive
the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding clause (i); provided, however, that
in the event that the Distribution is of shares of common stock of a company (other than the Company) whose common stock is traded on
a national securities exchange or a national automated quotation system (“Other Shares of Common Stock”), then the
Holder may elect to receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the number of Warrant Shares,
the terms of which shall be identical to those of this Warrant, except that such warrant shall be exercisable into the number of shares
of Other Shares of Common Stock that would have been payable to the Holder pursuant to the Distribution had the Holder exercised this
Warrant immediately prior to such record date and with an aggregate exercise price equal to the product of the amount by which the exercise
price of this Warrant was decreased with respect to the Distribution pursuant to the terms of the immediately preceding clause (i) and
the number of Warrant Shares calculated in accordance with the first part of this clause (ii).

 

(b)   Anti-Dilution
Adjustments to Exercise Price. If the Company or any Subsidiary thereof, as applicable, at any time following the date on which the
Company obtains approval by from the shareholders of the Company with respect to issuance of any shares of common stock as a result of
an adjustment under this Section 1.6(e) in accordance with Nasdaq Rule 5635(d) and continuing through the date that the second Subsequent
Placement (as defined below), shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose
of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any Common Stock or securities (including
but not limited to Common Stock Equivalents) entitling any person or entity (for purposes of clarification, including but not limited
to the Holder pursuant to (i) any other security of the Company currently held by Holder, (ii) any other security of the Company issued
to Holder on or after the Issuance Date, or (iii) any other agreement entered into between the Company and Holder) to acquire shares of
Common Stock (upon conversion, exercise or otherwise), at an effective price per share less than the then Exercise Price (such lower price,
the “Base Share Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common Stock
or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, elimination of an applicable
floor price for any reason in the future (including but not limited to the passage of time or satisfaction of certain condition(s)), reset
provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued
in connection with such issuance, be entitled or potentially entitled to receive shares of Common Stock at an effective price per share
which is less than the Exercise Price at any time while such Common Stock or Common Stock Equivalents are in existence, such issuance
shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance (regardless of whether the Common
Stock or Common Stock Equivalents are (i) subsequently redeemed or retired by the Company after the date of the Dilutive Issuance or (ii)
actually converted or exercised at such Base Share Price), then the Exercise Price shall be reduced at the option of the Holder and only
reduced to equal the Base Share Price. Such adjustment shall be made whenever such Common Stock or Common Stock Equivalents are issued,
regardless of whether the Common Stock or Common Stock Equivalents are (i) subsequently redeemed or retired by the Company after the date
of the Dilutive Issuance or (ii) actually converted or exercised at such Base Share Price by the holder thereof (for the avoidance of
doubt, the Holder may utilize the Base Share Price even if the Company did not actually issue shares of its common stock at the Base Share
Price under the respective Common stock Equivalents). The Company shall notify the Holder in writing, no later than the Trading Day following
the issuance of any Common Stock or Common Stock Equivalents subject to this Section 2(b), indicating therein the applicable issuance
price, or applicable reset price, exchange price, conversion price and other pricing terms (such notice the “Dilutive Issuance Notice”).
For purposes of clarification, regardless of whether (i) the Company provides a Dilutive Issuance Notice pursuant to this Section 2(b)
upon the occurrence of any Dilutive Issuance or (ii) the Holder accurately refers to the number of Warrant Shares or Base Share Price
in the Exercise Notice, the Holder is entitled to receive the Base Share Price upon the occurrence of any Dilutive Issuance. For purposes
of this Warrant “Subsequent Placement” means the offer, sale, granting of any option to purchase, or otherwise dispose of
(or announcement of any offer, sale, grant or any option to purchase or other disposition of), either directly or indirectly, by the Company
or any of its or its subsidiaries of debt, equity, or equity equivalent securities, including without limitation any debt, preferred shares
or other instrument or security that is, at any time during its life and/or under any circumstances, convertible into, exchangeable, or
exercisable for Common Stock for cash consideration.

 

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(c)   Subdivision
or Combination of Common Stock. If the Company at any time on or after the Issuance Date subdivides (by any stock split, stock dividend,
recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Exercise
Price in effect immediately prior to such subdivision will be proportionately reduced and the number of Warrant Shares will be proportionately
increased. If the Company at any time on or after the Issuance Date combines (by combination, reverse stock split or otherwise) one or
more classes of its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior
to such combination will be proportionately increased and the number of Warrant Shares will be proportionately decreased. Any adjustment
under this Section 2(c) shall become effective at the close of business on the date the subdivision or combination becomes effective.
Each such adjustment of the Exercise Price shall be calculated to the nearest one-hundredth of a cent. Such adjustment shall be made successively
whenever any event covered by this Section 2(c) shall occur.

 

3.   FUNDAMENTAL
TRANSACTIONS. If, at any time while this Warrant is outstanding, (i) the Company effects any merger of the Company with or into another
entity and the Company is not the surviving entity (such surviving entity, the “Successor Entity”), (ii) the Company
effects any sale of all or substantially all of its assets in one or a series of related transactions, (iii) any tender offer or exchange
offer (whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders
of Common Stock are permitted to tender or exchange their shares of Common Stock for other securities, cash or property and the holders
of at least 50% of the Common Stock accept such offer, or (iv) the Company effects any reclassification of the Common Stock or any compulsory
share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (other
than as a result of a subdivision or combination of shares of Common Stock) (in any such case, a “Fundamental Transaction”),
then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive the number of shares of Common Stock of
the Successor Entity or of the Company and any additional consideration (the “Alternate Consideration”) receivable
upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a holder of the number
of shares of Common Stock for which this Warrant is exercisable immediately prior to such event (disregarding any limitation on exercise
contained herein solely for the purpose of such determination). For purposes of any such exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect
of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be
given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction.
To the extent necessary to effectuate the foregoing provisions, any Successor Entity in such Fundamental Transaction shall issue to the
Holder a new warrant consistent with the foregoing provisions and evidencing the Holder’s right to exercise such warrant into Alternate
Consideration.

 

4.   NON-CIRCUMVENTION.
The Company covenants and agrees that it will not, by amendment of its certificate of incorporation, bylaws or through any reorganization,
transfer of assets, consolidation, merger, scheme of arrangement, 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, and will at all times in good faith carry out
all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality
of the foregoing, the Company (i) shall not increase the par value of any shares of Common Stock receivable upon the exercise of this
Warrant above the Exercise Price then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the
Company may validly and legally issue fully paid and non-assessable shares of Common Stock upon the exercise of this Warrant, and (iii)
shall, beginning on the date that is sixty (60) calendar days after the Issuance Date and for so long as this Warrant is outstanding,
have authorized and reserved, free from preemptive rights, two (2) times the number of shares of Common Stock into which the Warrants
are then exercisable into to provide for the exercise of the rights represented by this Warrant (without regard to any limitations on
exercise).

 

5.   WARRANT
HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, this Warrant, in and of itself, shall not entitle
the Holder to any voting rights or other rights as a stockholder of the Company. In addition, nothing contained in this Warrant shall
be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this Warrant or otherwise) or as a
stockholder of the Company, whether such liabilities are asserted by the Company or by creditors of the Company.

 

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 6. REISSUANCE.

 

(a)   Lost,
Stolen or Mutilated Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company will, on such terms as to indemnity
or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new
Warrant of like denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

 

(b)   Issuance
of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant, such new Warrant shall
be of like tenor with this Warrant, and shall have an issuance date, as indicated on the face of such new Warrant which is the same as
the Issuance Date.

 

7.   TRANSFER.
This Warrant shall be binding upon the Company and its successors and assigns, and shall inure to be the benefit of the Holder and its
successors and assigns. Notwithstanding anything to the contrary herein, the rights, interests or obligations of the Company hereunder
may not be assigned, by operation of law or otherwise, in whole or in part, by the Company without the prior signed written consent of
the Holder, which consent may be withheld at the sole discretion of the Holder (any such assignment or transfer shall be null and void
if the Company does not obtain the prior signed written consent of the Holder). This Warrant or any of the severable rights and obligations
inuring to the benefit of or to be performed by Holder hereunder may be assigned by Holder to a third party, in whole or in part, without
the need to obtain the Company’s consent thereto.

 

8.   NOTICES.
Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery,
telegram, e-mail or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently
by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand
delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be
received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such
address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Company,
to:

 

ADITXT, INC.

737 N. Fifth Street,
Suite 200

Richmond, VA 23219

Attention: Amro Albanna

 

If to the Holder,
to:

 

_________________

__________________

__________________

Attention: ____________

 

The Company shall provide the Holder
with prompt written notice (i) immediately upon any adjustment of the Exercise Price, setting forth in reasonable detail, the calculation
of such adjustment and (ii) at least 20 days prior to the date on which the Company closes its books or takes a record (A) with respect
to any dividend or distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any stock or other
securities directly or indirectly convertible into or exercisable or exchangeable for shares of Common Stock or other property, pro rata
to the holders of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution
or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such notice
being provided to the Holder.

 

    -6-

     

    

 

9.   AMENDMENT
AND WAIVER. The terms of this Warrant may be amended or waived (either generally or in a particular instance and either retroactively
or prospectively) only with the written consent of the Company and the Holder.

 

10.   GOVERNING
LAW AND VENUE. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware without regard
to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this
Warrant shall be brought only in the Court of Chancery of the State of Delaware or, to the extent such court does not have subject matter
jurisdiction, the United States District Court for the District of Delaware or, to the extent that neither of the foregoing courts has
jurisdiction, the Superior Court of the State of Delaware. The parties to this Warrant hereby irrevocably waive any objection to jurisdiction
and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum
non conveniens. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
ADJUDICATION OF ANY DISPUTE HEREUNDER OR UNDER ANY OTHER TRANSACTION DOCUMENT ENTERED INTO IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT
OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. The prevailing party shall be entitled to recover from the other party its reasonable
attorney’s fees and costs. In the event that any provision of this Warrant or any other agreement delivered in connection herewith is
invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that
it may conflict therewith and shall be deemed modified to conform with such statute or rule of law. Any such provision which may prove
invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party
hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in connection
with this Warrant or any other transaction document entered into in connection with this Warrant by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices provided for herein
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall
be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

11. ACCEPTANCE. Receipt
of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

 

12.   CERTAIN
DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

 (a) [Intentionally Omitted].

 

(b)   “Closing
Sale Price” means, for any security as of any date, (i) the last closing trade price for such security on the Principal Market,
as reported by Quotestream or other similar quotation service provider designated by the Holder, or, if the Principal Market begins to
operate on an extended hours basis and does not designate the closing trade price, then the last trade price of such security prior to
4:00 p.m., New York time, as reported by Quotestream or other similar quotation service provider designated by the Holder, or (ii) if
the foregoing does not apply, the last trade price of such security in the over-the-counter market for such security as reported by Quotestream
or other similar quotation service provider designated by the Holder, or (iii) if no last trade price is reported for such security by
Quotestream or other similar quotation service provider designated by the Holder, the average of the bid and ask prices of any market
makers for such security as reported by Quotestream or other similar quotation service provider designated by the Holder. If the Closing
Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security
on such date shall be the fair market value as mutually determined by the Company and the Holder. All such determinations to be appropriately
adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.

 

    -7-

     

    

 

(c)   “Common
Stock” means the Company’s common stock, par value $0.001, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

(d)   “Common
Stock Equivalents” means any securities of the Company that would entitle the holder thereof to acquire at any time Common Stock,
including without limitation any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible
into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

(e)   “Person”
and “Persons” means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust,
an unincorporated organization, any other entity and any governmental entity or any department or agency thereof.

 

(f)   “Principal
Market” means the principal securities exchange or trading market where such Common Stock is listed or quoted, including but
not limited to any tier of the OTC Markets, any tier of the NASDAQ Stock Market (including NASDAQ Capital Market), or the NYSE American,
or any successor to such markets.

 

(g)   “Market
Price” means the highest traded price of the Common Stock during the one hundred and fifty Trading Days prior to the date of
the respective Exercise Notice.

 

(h)   “Trading
Day” means any day on which the Common Stock is listed or quoted on its Principal Market, provided, however, that if the Common
Stock is not then listed or quoted on any Principal Market, then any calendar day.

 

* * * * * * *

 

    -8-

     

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to be duly executed as of the Issuance Date set forth above.

 

	 	ADITXT, INC.
	 	 
	 	Name:  	Amro Albanna
	 	Title:	 Chief Executive Officer

 

    -9-

     

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

(To be executed by the registered holder
to exercise this Common Stock Purchase Warrant)

 

THE
UNDERSIGNED holder hereby exercises the right to purchase  _______________ of the shares of Common
Stock (“Warrant Shares”) of ADITXT, INC., a Delaware corporation (the “Company”), evidenced by the attached copy
of the Common Stock Purchase Warrant (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the
respective meanings set forth in the Warrant.

 

	1.	Form of Exercise Price. The Holder intends that payment
of the Exercise Price shall be made as (check one):

 

		☐	a cash exercise with respect to _______________ Warrant Shares; or
	 	 	 

		☐	by cashless exercise pursuant to the Warrant.

 

	2.	Payment of Exercise Price. If cash exercise is selected
above, the holder shall pay the applicable Aggregate Exercise Price in the sum of $   _______________to the Company in accordance with the terms of the
Warrant.

 

	3.	Delivery of Warrant Shares. The Company shall deliver
to the holder   _______________Warrant Shares in accordance with the terms of the Warrant.

 

	Date:	 	 	
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	(Print Name of Registered Holder)
	 	 	 	 
	 	 	 	By:	         
	 	 	 	Name:	 
	 	 	 	Title:	 

 

    -10-

     

    

 

EXHIBIT B

 

ASSIGNMENT OF WARRANT

 

(To be signed only upon authorized
transfer of the Warrant)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns,
and transfers unto  the right to purchase  _____________shares of common stock of ADITXT, INC., to which the within Common Stock Purchase Warrant
relates and appoints  _____________, as attorney-in-fact, to transfer said right on the books of ADITXT, INC. with full power of substitution and
re-substitution in the premises. By accepting such transfer, the transferee has agreed to be bound in all respects by the terms and conditions
of the within Warrant.

 

	Dated:	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	(Signature) *
	 	 	 	 
	 	 	 	 
	 	 	 	(Name)
	 	 	 	 
	 	 	 	 
	 	 	 	(Address)
	 	 	 	 
	 	 	 	 
	 	 	 	(Social Security or Tax Identification No.)

 

	*	The signature on this Assignment of Warrant must correspond
to the name as written upon the face of the Common Stock Purchase Warrant in every particular without alteration or enlargement or any
change whatsoever. When signing on behalf of a corporation, partnership, trust or other entity, please indicate your position(s) and
title(s) with such entity.

 

 

-11-

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