Document:

Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(the “Agreement”), made as of this 13th day of August, 2018, is entered into by Ekso Bionics Holdings, Inc., a Nevada
corporation (the “Company”), and John (Jack) Glenn, residing at 1211 West Coast Highway, #228, Newport Beach,
CA 92663 (the “Executive”).

 

WHEREAS, the Company desires
to employ the Executive, and the Executive desires to be employed by the Company.

 

NOW, THEREFORE, in consideration
of the mutual covenants and promises contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties agree as follows:

 

1            Employment
Period. The term of this Agreement and Executive’s employment with the Company (directly
or through its subsidiary Ekso Bionics, Inc.) shall commence on August 13, 2018 (the “Effective Date”)
and shall continue until terminated in accordance with the provisions of Section 4 (the period of employment, the “Employment
Period”). 

 

2            Title;
Capacity.

 

2.1           The
Executive shall serve as Chief Financial Officer of the Company. The Executive shall be subject to the supervision of, and shall
have such authority as is delegated to the Executive by, the Chief Executive Officer of the Company (the “CEO”).
The Executive hereby accepts such employment and agrees to undertake the duties and responsibilities inherent in such position
and such other duties and responsibilities as the CEO and/or the Board of Directors of the Company (the “Board”)
shall from time to time reasonably assign to the Executive.

 

2.2           The
Executive shall be based at the Company’s headquarters in Richmond, California, any other location within twenty-five (25)
miles of the Company’s headquarters as of the Effective Date, or such other place or places as the CEO and the Executive
shall mutually agree. The parties acknowledge that the Executive may be required to travel in connection with the performance of
his duties hereunder.

 

2.3           The
Executive recognizes that during the period of the Executive’s employment hereunder, the Executive owes an undivided duty
of loyalty to the Company, and the Executive will use the Executive’s good faith efforts to promote and develop the business
of the Company and its subsidiaries (the Company’s subsidiaries from time to time, together with any other affiliates of
the Company, the “Affiliates”). The Executive shall devote all of the Executive’s business time, attention
and skills to the performance of the Executive’s services as an executive of the Company. Recognizing and acknowledging that
it is essential for the protection and enhancement of the name and business of the Company and the goodwill pertaining thereto,
the Executive shall perform the Executive’s duties under this Agreement professionally, in accordance with the applicable
laws, rules and regulations and such standards, policies and procedures established by the Company and the industry from time to
time.

 

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2.4           Notwithstanding
the foregoing, the Executive (i) may devote a reasonable amount of his time to civic, community, or charitable activities, (ii)
may devote a reasonable amount of time to investing the Executive’s personal assets in such a manner as will not require
significant services to be rendered by the Executive in the operation of the affairs of the companies in which investments are
made, and (iii) may serve as a member of the board of directors or equivalent body of such companies and other organizations as
are disclosed by the Executive to, and approved by, the CEO or the Board, in each case so long as the Executive’s responsibilities
with respect thereto do not conflict or interfere with the faithful performance of his duties to the Company.

 

3            Compensation
and Benefits.

 

3.1           Salary.
The Company shall pay the Executive, in periodic installments in accordance with the Company’s customary payroll practices,
an annual base salary at the rate of $275,000 per year during the Employment Period (the “Base Salary”). Such
Base Salary shall be subject to increase following the date hereof as determined by the CEO or the Board.

 

3.2           Sign-On
Bonus. The Executive shall be eligible for a one-time sign-on bonus in the amount of $25,000, payable in cash lump sum on the
first payroll date that follows the Effective Date.

 

3.3           Bonus.
The Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) in an amount up to forty percent
(40%) of his then annual base salary (the “Target Bonus Amount”). The Executive’s Annual Bonus (if any)
shall be in such amount as the CEO or the Board may determine in their respective discretion. The CEO and/or Board may or may not
determine that all or any portion of the Annual Bonus shall be earned upon the achievement of operational, financial or other milestones
(“Milestones”) established by the CEO or Board in consultation with the Executive and that all or any portion
of any Annual Bonus shall be paid in cash, securities or other property. Any Annual Bonus awarded by the CEO or Board to the Executive
pursuant to this Section 3.3 shall be paid not later than March 15 after the calendar year to which it relates. The Annual Bonus
will be prorated for the year in which the Effective Date occurs based on the number of days the Executive is employed by the Company
in such year. The Executive shall be eligible to participate in any other bonus or incentive program established by the Company
for executives of the Company.

 

3.4           Insurance
and Other Benefits. During the Employment Period, the Executive and the Executive’s dependents shall be entitled to participate
in any employee benefit plans, whether or not funded by means of insurance, subject to the same terms and conditions applicable
to other employees, as the same may be adopted and/or amended from time to time (the “Benefits”). The Executive
shall be bound by all of the policies and procedures relating to Benefits established by the Company from time to time.

 

3.5           Vacation;
Personal Days. During the Employment Period, the Executive shall be eligible to accrue and use paid vacation leave in accordance
with and subject to the terms of the Company’s written vacation policy for management employees, as in effect from time to
time. The Executive shall be entitled to paid personal days on a basis consistent with the Company’s other senior executives,
as determined by the CEO or the Board.

 

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3.6           Reimbursement
of Expenses. The Company shall reimburse the Executive for all reasonable travel, entertainment and other expenses incurred
or paid by the Executive in connection with, or related to, the performance of his duties, responsibilities or services under this
Agreement, in accordance with policies and procedures, and subject to limitations, adopted by the Company from time to time (which
policies, procedures and limitations shall comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), or qualify for exemption from said Section 409A.

 

3.7           Stock
Options. Following the Effective Date and subject to the approval of the Board (or a committee of the Board), the Company shall
to grant to the Executive an option under the Company’s Amended and Restated 2014 Equity Incentive Plan (the “EIP”)
to purchase Four Hundred Thousand (400,000) shares of Common Stock of the Company (the “Option”). The Option
shall be issued in the form of a non-qualified stock option; and the exercise price shall be equal to the fair market value of
the Common Stock on the date the grant is approved by the Board or the Compensation Committee of the Board. The Option shall become
exercisable with respect to one fourth (1/4) of the shares of Common Stock covered thereby on the first anniversary of the Effective
Date provided the Executive is then employed by the Company (except as otherwise provided under Section 4), and with respect to
an additional one forty-eighth (1/48) of the shares of Common Stock covered by the Option at the end of each month thereafter during
the Executive’s employment, so that the Option shall be exercisable in full on August 13, 2022, subject to the Executive’s
continued service with the Company throughout this four year period (except as otherwise provided in Section 4). In addition, the
Company shall recommend to the Board that the Executive receive, in calendar year 2019 and at such time as annual refresher grants
are made to similarly situated employees of the Company, an option to purchase a number of shares of Common Stock that have a grant
date fair value that is no less than the grant date fair value of an option to purchase 100,000 shares of Common Stock as measured
on the Effective Date. The terms and conditions of this option grant, such as vesting, will be determined by the Board at the time
of grant.

 

3.8           Withholding.
All salary, bonus and other compensation payable to the Executive shall be subject to applicable withholding and reporting for
taxes.

 

4           Termination of Employment; Compensation Due Upon Employment Termination. The
Executive’s employment with the Company shall be entirely “at-will,” meaning that either the Executive or
the Company may terminate such employment relationship, at any time for any reason or for no reason at all, by delivery of
written notice of employment termination to the other party subject to the post-employment restrictions and covenants set
forth in this Agreement including such restrictions and covenants set forth in Sections 5, 6 and 7. As used in the this
Agreement, termination of employment shall have the meaning ascribed to “separation from service” under Section
409A of the Code and Treasury Regulations promulgated thereunder, including Treas. Reg. Sec. 1.409A-1(h)(1). The
Executive’s right to compensation for periods after the date his employment with the Company terminates shall be
determined in accordance with the provisions of paragraphs 4.1 through 4.6 below:

 

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4.1          Voluntary
Termination: Resignation By The Executive. The Executive may terminate his employment at any time upon thirty (30) days’
prior written notice to the Company and the Company shall have no obligation to (i) make payments to the Executive in accordance
with the provisions of Section 3 except for the payment of the Executive’s Base Salary earned, but unpaid, through the date
of the Executive’s separation, or (ii) except as otherwise required by applicable law or the terms of any Benefits plan,
to provide the benefits described in Section 3 for periods after the date on which the Executive’s employment with the Company
terminates.

 

4.2          Termination
By The Company without Cause During the Change of Control Protection Period.

 

(a)          If
the Executive’s employment is terminated by the Company without Cause (as defined below) within the twelve (12) month period
following a Change of Control (the “Change of Control Protection Period”), the Executive shall be entitled to
receive all amounts payable upon termination under Section 4.1 and, subject to the Executive’s continued compliance with
Sections 5, 6 and 7 of this Agreement and the Executive’s execution and delivery to the Company of a general release in the
form attached as Exhibit A hereto (the “Release”) in satisfaction of the Release Condition (as defined
below), the amounts and benefits provided in subsections 4.2(a)(1) through 4.2(a)(4) below. For purposes herein, the “Release
Condition” means the Executive’s execution, delivery, and non-revocation of the Release within sixty (60) days
following the Executive’s termination of employment.

 

		(1)	The Company shall pay to the Executive severance in the form of salary continuation at the Executive’s
Base Salary rate in effect on the date the Executive’s employment termination, subject to the Company’s regular payroll
practices and required withholdings, for a period of nine (9) months (the “CIC Severance Period”) commencing
on the first payroll date on which the Release Condition is satisfied. To the extent that any severance payments are deferred compensation
under Section 409A (defined below), and are not otherwise exempt from the application of Section 409A, then, if the period during
which Executive may consider and sign the Release spans two (2) calendar years, the payment of severance will not be made or begin
until the second calendar year; and

 

		(2)	An amount equal to the Target Bonus Amount pro-rated for the CIC Severance Period, such payment
to be made on the date the Annual Bonus would have been payable to the Executive had the Executive remained employed by the Company;

 

		(3)	all of the Executive’s stock options (including the Option), restricted stock or similar
incentive equity instruments that are outstanding and held by the Executive (collectively, “Equity Awards”),
shall become vested and exercisable upon the Executive’s employment termination, and all exercisable Equity Awards (including
those with accelerated exercisability pursuant to this clause (3)) shall remain exercisable until the expiration of the CIC Severance
Period or, if earlier, until the latest date upon which the Equity Awards could have been exercised in any circumstance under the
original award (the “Latest Expiration Date”), and to the extent that the terms of any Equity Award are inconsistent
with this clause (3), the terms of this clause (3) shall control, provided, however that nothing herein shall alter
an Equity Award’s Latest Expiration Date; and

 

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		(4)	for the duration of the CIC Severance Period, continuation of or reimbursement for the Executive’s
participation in (i) the Company’s group health plan on the same terms applicable to similarly situated active employees
during the CIC Severance Period provided the Executive was participating in such plan immediately prior to the date of employment
termination; and (ii) each other Benefit program to the extent permitted under the terms of such program.

 

(b)          For
purposes of this Agreement, “Change of Control” shall mean the occurrence of any one or more of the following:
(a) the accumulation, whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning
of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of
50% or more of the shares of the outstanding equity securities of the Company other than in a transaction by any individual, entity
or group that immediately prior to the effective date of such transaction, owned at least 50% of such share, (b) a merger
or consolidation of the Company in which the Company does not survive as an independent company or upon the consummation of which
the holders of the Company’s outstanding equity securities prior to such merger or consolidation own less than 50% of the
outstanding equity securities of the Company after such merger or consolidation, (c) a sale of all or substantially all of
the assets of the Company, or (d) a change in the composition of the Board such that a majority of Board members are replaced during
any 12-month period by individuals whose appointment or election is not endorsed by a majority of the members of the Board before
the date of the appointment or election; provided, however, that the following acquisitions shall not constitute a Change of Control
for the purposes of this Agreement: (i) any acquisitions of common stock or securities convertible into common stock directly from
the Company, or (ii) any acquisition of common stock or securities convertible into common stock by any employee benefit plan (or
related trust) sponsored by or maintained by the Company.

 

4.3          Termination
By The Company without Cause Outside of the Change of Control Protection Period.

 

(a)          If
the Executive’s employment is terminated by the Company without Cause (as defined below) at any time outside of the Change
of Control Protection Period, the Executive shall be entitled to receive all amounts payable upon termination under Section 4.1
and, subject to the Executive’s continued compliance with Sections 5, 6 and 7 of this Agreement and the Executive’s
execution and delivery to the Company of the Release in satisfaction of the Release Condition (as defined below), the amounts and
benefits provided below:

 

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		(1)	The Company shall pay to the Executive severance in the form of salary continuation at the Executive’s
Base Salary rate in effect on the date of the Executive’s employment termination, subject to the Company’s regular
payroll practices and required withholdings, for a period of nine (9) months (the “Severance Period”) commencing
on the first payroll date on which the Release Condition is satisfied if such termination occurs on or after the first anniversary
of the Effective Date. If such termination occurs prior to the first anniversary of the Effective Date, the Severance Period shall
equal six (6) months. To the extent that any severance payments are deferred compensation under Section 409A of the Code, and are
not otherwise exempt from the application of Section 409A, then, if the period during which Executive may consider and sign the
Release spans two (2) calendar years, the payment of severance will not be made or begin until the second calendar year; and

 

		(2)	For the duration of the applicable Severance Period, continuation of or reimbursement for the Executive’s
participation in (i) the Company’s group health plan on the same terms applicable to similarly situated active employees
during the applicable Severance Period provided the Executive was participating in such plan immediately prior to the date of employment
termination; and (ii) each other Benefit program to the extent permitted under the terms of such program.

 

4.4          Termination
By The Company for Cause. Upon written notice to the Executive, the Company may terminate the Executive’s employment
for “Cause” if any of the following events shall occur:

 

(a)          any
act or omission that constitutes a material breach by the Executive of any of his obligations under this Agreement;

 

(b)          the
willful and continued failure or refusal of the Executive to satisfactorily perform the duties reasonably required of him as an
employee of the Company, which failure or refusal continues for more than thirty (30) days after notice given to the Executive,
such notice to set forth in reasonable detail the nature of such failure or refusal;

 

(c)          the
Executive’s conviction of, or plea of nolo contendere to, (i) any felony or (ii) a crime involving dishonesty
or misappropriation or which could reflect negatively upon the Company or otherwise impair or impede its operations;

 

(d)          the
Executive’s engaging in any misconduct, gross negligence, act of dishonesty (including, without limitation, theft or embezzlement),
violence, threat of violence or any activity that could result in any material violation of federal securities laws, in each case,
that is injurious to the Company or any of its Affiliates;

 

(e)          the
Executive’s material breach of a written policy of the Company or the rules of any governmental or regulatory body applicable
to the Company;

 

(f)   
        the Executive’s refusal to follow the directions of the CEO or the Board, unless
such directions are, in the written opinion of legal counsel, illegal or in violation of applicable regulations; or

 

(g)          any
other willful misconduct by the Executive which is materially injurious to the financial condition or business reputation of the
Company or any of its Affiliates.

 

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In the event the Executive is terminated for
Cause, the Company shall have no obligation to make payments to the Executive in accordance with the provisions of Section 3, or,
except as otherwise required by law, to provide the benefits described in Section 3, for periods after the Executive’s employment
with the Company is terminated on account of the Executive’s discharge for Cause except for amounts payable pursuant to Section
4.1.

 

4.5           Disability.
If the Executive suffers as Disability (as defined herein), then the Company, at its option, may terminate the employment of the
Executive under this Agreement with thirty (30) days’ advance written notice to the Executive to that effect. The Company
shall have no obligation to make payments to the Executive in accordance with the provisions of Section 3, or, except as otherwise
required by law or the terms of any applicable benefit plan, to provide the benefits described in Section 3 for periods after the
date of the Executive’s Disability except for then applicable Base Salary earned, but unpaid, through the date of such Disability.
For purposes of this Agreement, the term “Disability” means any medically determinable physical or mental impairment
that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months
that: (a) renders the Executive unable to engage in any substantial gainful activity, or (b) causes the Executive to receive income
replacement benefits for a period of not less than three (3) months under an accident and health plan of the Company covering the
Executive. A determination of Disability shall be made by a physician satisfactory to both the Executive and the Company; provided,
however, that if the Executive and the Company do not agree on a physician, the Executive and the Company shall each select
a physician and those two physicians together shall select a third physician, whose determination as to a permanent disability
shall be binding on all parties.

 

4.6           Death.
The Executive’s employment hereunder shall terminate upon the death of the Executive. The Company shall have no obligation
to make payments to the Executive in accordance with the provisions of Section 3, or, except as otherwise required by law or the
terms of any applicable benefit plan, to provide the benefits described in Section 3 for periods after the date of the Executive’s
death except for then applicable Base Salary earned, but unpaid, through the date of death (and, if applicable, compensation required
under applicable state law to be paid upon employment termination), payable to the Executive’s beneficiary, as the Executive
shall have indicated in writing to the Company (or if no such beneficiary has been designated, to Executive’s estate).

 

4.7           Notice
of Termination. Any termination of employment by the Company or the Executive shall be communicated by a written “Notice
of Termination” to the other party hereto given in accordance with Section 14 of this Agreement. In the event of a termination
by the Company for Cause, the Notice of Termination shall (a) indicate the specific termination provision in this Agreement
relied upon, (b) set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
the Executive’s employment under the provision so indicated and (c) specify the effective date of termination if other
than the date of such notice, provided that the effective date of employment termination may not be earlier than the date of such
notice. The failure by the Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes
to a showing of Cause shall not waive any right of the Executive or the Company, respectively, hereunder or preclude the Executive
or the Company, respectively, from asserting such fact or circumstance in enforcing the Executive’s or the Company’s
rights hereunder.

 

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4.8           Resignation
from Directorships and Officerships. The termination of the Executive’s employment for any reason will constitute the
Executive’s resignation from (a) any director, officer or employee position the Executive has with the Company or any
of its Affiliates, and (b) all fiduciary positions (including as a trustee) the Executive holds with respect to any employee
benefit plans or trusts established by the Company. The Executive agrees that this Agreement shall serve as written notice of resignation
in this circumstance, unless otherwise required by any plan or applicable law.

 

5            Interference
with Business; Use of Confidential or Proprietary Information.

 

5.1           During
the Employment Period and for a period of twelve (12) months following termination of the Executive’s employment with the
Company, the Executive shall not interfere with the business of the Company by soliciting, or attempting to recruit, persuade,
solicit or hire, any employee or independent contractor of, or consultant to, the Company and/or its Affiliates, to leave the employment
thereof (or service provider relationship thereto), whether or not any such employee, independent contractor or consultant is party
to a written agreement.

 

5.2           At
no time shall the Executive use or disclose Confidential Information, as defined in Section 7, to communicate with or in the course
of communications with any customer or client of the Company or any of its Affiliates, with whom the Company or any of its Affiliates
had significant contact during the term of this Agreement, provided however that the foregoing shall not prevent the Executive
from using Confidential Information for the benefit of the Company during the term of the Executive’s employment with the
Company.

 

5.3           The
Executive shall execute and comply with the terms of such restrictive covenants as the Company may request from its executive and
management employees from time to time on a reasonable and uniform basis including, without limitation, the terms of the Employee
Invention Assignment and Confidentiality Agreement in the form or substantially the form appended to this Agreement as Exhibit
B.

 

5.4           The
Executive recognizes and agrees that because a violation by the Executive of his obligations under this Section will cause
irreparable harm to the Company that would be difficult to quantify and for which money damages would be inadequate, the Company
shall have the right to injunctive relief to prevent or restrain any such violation, without the necessity of posting a bond or
demonstrating actual damages.

 

5.5           The
Executive expressly agrees that the character, duration and scope of the covenants set forth in Section 5.1, 5.2, and in Exhibit
B are reasonable in light of the circumstances as they exist at the date upon which this Agreement has been executed. However,
should a determination nonetheless be made by a court of competent jurisdiction at a later date that the character or duration
of such covenants are unreasonable in light of the circumstances as they then exist, then it is the intention of the Executive,
on the one hand, and the Company, on the other, that such covenants shall be construed by the court in such a manner as to impose
only those restrictions on the conduct of the Executive which are reasonable in light of the circumstances as they then exist and
necessary to assure the Company of the intended benefit of the covenant.

 

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6            Inventions
and Patents. The Executive acknowledges that all inventions, innovations, improvements, know-how,
plans, development, methods, designs, analyses, specifications, software, drawings, reports and all similar or related information
(whether or not patentable or reduced to practice) which related to any of the Company’s actual or proposed business activities
and which are created, designed or conceived, developed or made by the Executive during the Executive’s past or future employment
by the Company or any Affiliates, or any predecessor thereof (“Work Product”), belong to the Company, or its
Affiliates, as applicable. Any copyrightable work falling within the definition of Work Product shall be deemed a “work made
for hire” and ownership of all right title and interest shall rest in the Company. The Executive hereby irrevocably assigns,
transfers and conveys, to the full extent permitted by law, all right, title and interest in the Work Product, on a worldwide basis,
to the Company to the extent ownership of any such rights does not automatically vest in the Company under applicable law. The
Executive will promptly disclose any such Work Product to the Company and perform all actions requested by the Company (whether
during or after employment) to establish and confirm ownership of such Work Product by the Company (including, without limitation,
assignments, consents, powers of attorney and other instruments). The obligations of this Section 6 shall be in additions to any
obligations imposed under instruments executed by the Executive pursuant to Section 5.3. 

 

7            Confidentiality.

 

7.1           The
Executive understands that the Company and/or its Affiliates, from time to time, may impart to the Executive Confidential Information,
as hereinafter defined, whether such information is written, oral, electronic or graphic.

 

7.2           For
purposes of this Agreement, “Confidential Information” means information, which is used in the business of the Company
or its Affiliates and (a) is proprietary to, about or created by the Company or its Affiliates, (b) gives the Company
or its Affiliates some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which
could be detrimental to the interests of the Company or its Affiliates, (c) is designated as confidential information by the
Company or its Affiliates, is known by the Executive to be considered confidential by the Company or its Affiliates, or from all
the relevant circumstances should reasonably be assumed by the Executive to be confidential and proprietary to the Company or its
Affiliates, or (d) is not generally known by non-Company personnel. Such Confidential Information includes, without limitation,
the following types of information and other information of a similar nature (whether or not reduced to writing or designated as
confidential):

 

(a)          internal
personnel and financial information of the Company or its Affiliates, vendor information (including vendor characteristics, services,
prices, lists and agreements), purchasing and internal cost information, internal service and operational manuals, and the manner
and methods of conducting the business of the Company or its Affiliates;

 

(b)          marketing
and development plans, price and cost data, price and fee amounts, pricing and billing policies, bidding, quoting procedures, marketing
techniques, forecasts and forecast assumptions and volumes, and future plans and potential strategies of the Company or its Affiliates
which have been or are being discussed;

 

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(c)          names
of customers and their representatives, contracts (including their contents and parties), customer services, and the type, quantity,
specifications and content of products and services purchased, leased, licensed or received by customers of the Company or its
Affiliates; and

 

(d)          confidential
and proprietary information provided to the Company or its Affiliates by any actual or potential customer, government agency or
other third party (including businesses, consultants and other entities and individuals).

 

The Executive hereby acknowledges the Company’s
exclusive ownership of such Confidential Information.

 

7.3           The
Executive agrees as follows: (1) only to use the Confidential Information to provide services to the Company and its Affiliates;
(2) only to communicate the Confidential Information to fellow employees, and agents and representatives of the Company and its
Affiliates on a need-to-know basis; and (3) not to otherwise disclose or use any Confidential Information, except as may be required
by law or otherwise authorized by the CEO or the Board. Upon demand by the Company or upon termination of the Executive’s
employment, the Executive will deliver to the Company all manuals, photographs, recordings and any other instrument or device by
which, through which or on which Confidential Information has been recorded and/or preserved, which are in the Executive’s
possession, custody or control. Notwithstanding the foregoing, pursuant to 18 U.S.C. Section 1833(b), the Executive shall not be
held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (1) is
made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely
for the purpose of reporting or investigating a suspected violation of law; or (2) is made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal.

 

7.4           The
Executive’s obligations under this Section 7 shall be in addition to his obligations under (i) any instruments executed by
the Executive pursuant to Section 5.3, and/or (ii) any policy of general application to employees or limited application to executive
or management employees established by the Company and as in effect from time to time with respect to confidential information
and the Executive agrees to comply with all such policies as a condition of employment.

 

8            Executive’s
Representation. The Executive hereby represents that the Executive’s entry into this Agreement
and performance of the services hereunder will not violate the terms or conditions of any other agreement to which the Executive
is a party.

 

9            Governing
Law/Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws
of the State of California (without reference to the conflicts of laws provisions thereof). Any action, suit or other legal proceeding
arising under or relating to any provision of this Agreement shall be commenced only in a court of the County of Contra Costa,
State of California (or, if appropriate, a federal court located within California and having jurisdiction of the area including
Contra Costa County), and the Company and the Executive each consents to the jurisdiction of such a court. The Company and the
Executive each hereby irrevocably waive any right to a trial by jury in any action, suit or other legal proceeding arising under
or relating to any provision of this Agreement.

 

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10          Public
Company Obligations; Litigation and Regulatory Cooperation; Indemnification.

 

10.1         The
Executive acknowledges that the Company is a public company shares of whose common stock have been registered under the US Securities
Act of 1933, as amended (the “Securities Act”), and whose common stock is or will be registered under the Exchange
Act, and that this Agreement will be subject to the public filing requirements of the Exchange Act. In addition, both parties acknowledge
that the Executive’s compensation and perquisites (each as determined by the rules of the US Securities and Exchange Commission
(the “SEC”) or any other regulatory body or exchange having jurisdiction) (which may include benefits or regular
or occasional aid/assistance, such as recreation, club memberships, meals, education for his family, vehicle, lodging or clothing,
occasional bonuses or anything else he receives, during the Employment Period, in cash or in kind) paid or payable or received
or receivable under this Agreement or otherwise, and his transactions and other dealings with the Company, will be required to
be publicly disclosed.

 

10.2         The
Executive acknowledges and agrees that the applicable insider trading rules, transaction reporting rules, limitations on disclosure
of non-public information and other requirements set forth in the Securities Act, the Exchange Act and rules and regulations promulgated
by the SEC may apply to this Agreement and the Executive’s employment with the Company.

 

10.3         During
and after the Employment Period, the Executive shall reasonably cooperate with the Company in the defense or prosecution of any
claims now in existence or which may be brought in the future against or on behalf of the Company or any Affiliates that relate
to events or occurrences that transpired while the Executive was employed by the Company or any Affiliates; provided, however,
that such cooperation shall not materially and adversely affect the Executive or expose the Executive to an increased probability
of civil or criminal litigation. The Executive’s cooperation in connection with such claims or actions shall include, but
not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of
the Company or any of its Affiliates at mutually convenient times. During and after the Employment Period, the Executive also shall
cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority
as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company
or any of its Affiliates. The Company shall reimburse the Executive for all out-of-pocket costs and expenses incurred in connection
with the Executive’s performance under this Section 10.3, including, but not limited to, reasonable attorneys’ fees
and costs.

 

10.4         The
Company shall maintain in full force and effect a policy, consistent with industry standards for similarly situated publicly traded
companies, for indemnification of executive employees, including the Executive, from and against liability or cost arising out
of or associated with an action or proceeding to procure a judgment against the Executive by reason of the fact that the Executive
is or was an officer, director or employee of the Company.

 

    	 	-11-	 

     

    

  

11     
      Section 409A. Notwithstanding anything to the contrary
herein, the following provisions apply to the extent severance benefits provided herein are subject to Section 409A of the
Code and the regulations and other guidance thereunder and any state law of similar effect (collectively “Section
409A”). Severance benefits shall not commence until the Executive has a “separation from service” (as
defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a
 “separation from service”). Each installment of severance benefits is a separate “payment” for
purposes of Treas. Reg. Section 1.409A-2(b)(2)(i), and the severance benefits are intended to satisfy the exemptions from
application of Section 409A provided under Treasury Regulations Sections 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9).
However, if such exemptions are not available and the Executive is, upon separation from service, a
 “specified employee” for purposes of Section 409A, then, solely to the extent necessary to avoid adverse personal
tax consequences under Section 409A, the timing of the severance benefits payments shall be delayed until the earlier of (i)
six (6) months and one day after the Executive’s separation from service, or (ii) the Executive’s death. To the
extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred
compensation” for purposes of Code Section 409A, (A) all such expenses or other reimbursements hereunder shall be
made on or prior to the last day of the taxable year following the taxable year in which such expenses were incurred by
Executive, (B) any right to such reimbursement or in-kind benefits shall not be subject to liquidation or exchange for
another benefit, and (C) no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any
taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any
other taxable year. The parties acknowledge that the exemptions from application of Section 409A to severance benefits are
fact specific, and any later amendment of this Agreement to alter the timing, amount or conditions that will trigger payment
of severance benefits may preclude the ability of severance benefits provided under this Agreement to qualify for an
exemption. It is intended that this Agreement shall comply with the requirements of Section 409A, and any ambiguity contained
herein shall be interpreted in such manner so as to avoid adverse personal tax consequences under Section 409A.
Notwithstanding the foregoing, the Company shall in no event be obligated to indemnify the Executive for any taxes or
interest that may be assessed by the Internal Revenue Service pursuant to Section 409A of the Code to payments made pursuant
to this Agreement.

 

12     
      280G Cap. In no event shall any of the payments and
benefits to be made, or provided, to Executive pursuant to this Agreement and other payments or benefits, if applicable, to
be made, or provided, to the Executive in connection with an event described in Section 280G(b)(2)(A)(i) of the Code
(collectively referred to as the “Change in Control Benefits”) including, to the extent applicable,
payments or benefits to which the Executive is entitled upon a Change of Control as defined in Section 4.2(c), constitute, in
the aggregate, a “parachute payment” under Section 280G of the Code. If the Change in Control Benefits result in
a “parachute payment” under Code Section 280G, the Change in Control Benefits shall be reduced to an amount, the
value of which is $1.00 less than an amount equal to three (3) times the Executive’s “base amount” as
determined in accordance with Section 280G of the Code. The reduction in payments and/or benefits will occur in the following
order: (1) first, reduction of cash payments, in reverse order of scheduled payment date (or if necessary, to zero), (2)
then, reduction of non-cash and non-equity benefits provided to the Executive, on a pro rata basis (or if necessary, to
zero) and (3) then, cancellation of the acceleration of vesting of equity award compensation in the reverse order of the date
of grant of the Executive’s equity awards.

 

    	 	-12-	 

     

    

  

13   
        Entire Agreement. This Agreement and the
offer letter between the Executive and the Company, dated July 24, 2018, constitutes the entire agreement between the parties
hereto with respect to the subject matter hereof and thereof and supersedes and cancels any and all previous agreements,
written and oral, regarding the subject matter hereof between the parties hereto. This Agreement shall not be changed,
altered, modified or amended, except by a written agreement signed by both parties hereto.

 

14    
       Notices. All notices, requests, demands and
other communications called for or contemplated hereunder shall be in writing and shall be deemed to have been given when
delivered to the party to whom addressed or when sent by telecopy (if promptly confirmed by registered or certified mail,
return receipt requested, prepaid and addressed) to the parties, their successors in interest, or their assignees at the
following addresses, or at such other addresses as the parties may designate by written notice in the manner
aforesaid:

 

(a)         to the Company at:

 

Ekso Bionics Holdings, Inc.

1414 Harbour Way South, Suite 1201

Richmond, CA 94804

 

Attn: Jack Peurach, CEO

Fax: +1-510-927-2647

 

(b)         to the Executive at:

 

John Glenn

1211 West Coast Highway, #228

Newport Beach, CA 92663

 

All such notices, requests
and other communications will (i) if delivered personally to the address as provided in this Section, be deemed given upon delivery,
(ii) if delivered by facsimile transmission to the facsimile number as provided for in this Section, be deemed given upon facsimile
confirmation, (iii) if delivered by mail in the manner described above to the address as provided for in this Section 14, be deemed
given on the earlier of the third business day following mailing or upon receipt and (iv) if delivered by overnight courier to
the address as provided in this Section, be deemed given on the earlier of the first business day following the date sent by such
overnight courier or upon receipt (in each case regardless of whether such notice, request or other communication is received by
any other person to whom a copy of such notice is to be delivered pursuant to this Section). Either party may, by notice given
to the other party in accordance with this Section, designate another address or person for receipt of notices hereunder.

 

    	 	-13-	 

     

    

  

15          Severability.
If any term or provision of this Agreement, or the application thereof to any person or under
any circumstance, shall to any extent be invalid or unenforceable, the remainder of this Agreement, or the application of such
terms to the persons or under circumstances other than those as to which it is invalid or unenforceable, shall be considered severable
and shall not be affected thereby, and each term of this Agreement shall be valid and enforceable to the fullest extent permitted
by law. The invalid or unenforceable provisions shall, to the extent permitted by law, be deemed amended and given such interpretation
as to achieve the economic intent of this Agreement.

 

16          Waiver.
The failure of any party to insist in any one instance or more upon strict performance of any
of the terms and conditions hereof, or to exercise any right or privilege herein conferred, shall not be construed as a waiver
of such terms, conditions, rights or privileges, but same shall continue to remain in full force and effect. Any waiver by any
party of any violation of, breach of or default under any provision of this Agreement by the other party shall not be construed
as, or constitute, a continuing waiver of such provision, or waiver of any other violation of, breach of or default under any other
provision of this Agreement.

 

17          Successors
and Assigns. Neither the Company nor the Executive may make any assignment of this Agreement
or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however,
that the Company may assign its rights and obligations under this Agreement without the consent of the Executive in the event that
the Company shall hereafter effect a reorganization, or consolidate with or merge into any other person or entity, or transfer
all or substantially all of its properties or assets to any other person or entity. This Agreement shall inure to the benefit of
and be binding upon the Company and the Executive, and their respective successors, executors, administrators, heirs and permitted
assigns.

 

18          Counterparts.
This Agreement may be executed in multiple counterparts, each of which shall be deemed an original,
and all of which together shall constitute one and the same instrument. Additionally, a facsimile counterpart of this Agreement
shall have the same effect as an originally executed counterpart.

 

19          Headings.
Headings in this Agreement are for reference purposes only and shall not be deemed to have any
substantive effect.

 

20          Opportunity
to Seek Advice. The Executive acknowledges and confirms that he has had the opportunity to seek
such legal, financial and other advice and representation as he has deemed appropriate in connection with this Agreement, that
the Executive is fully aware of its legal effect, and that Executive has entered into it freely based on the Executive’s
judgment and not on any representations or promises other than those contained in this Agreement.

 

21          Attorney’s
Fees. In the event that either party seeks to enforce its rights under this Agreement before
a court of competent jurisdiction with respect to such enforcement action and prevails in such enforcement action, than the prevailing
party shall be entitled to reasonable attorney’s fees and court costs associated with such enforcement action. Without limiting
the foregoing, the preceding sentence shall apply without regard to whether the prevailing party is a plaintiff or defendant in
an enforcement action.

 

22          Effect
of Termination. Upon termination of this Agreement, all obligations and provisions of this Agreement
shall terminate except with respect to any accrued and unpaid monetary obligation and except for the provisions of Section 5 through
(and inclusive of) 21 hereof.

 

    	 	-14-	 

     

    

  

[Remainder of Page Intentionally
Left Blank]

 

    	 	-15-	 

     

    

  

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year set forth above.

 

	 	EKSO BIONICS HOLDINGS, INC.
	 	 	 
	 	By:	/s/ Jack Peurach
	 	 	 
	 	Title: 	Chief Executive Officer
	 	 	 
	 	JOHN F. GLENN
	 	 	 
	 	By:	/s/ John F. Glenn

 

    	 	-16-	 

     

    

 

Exhibit A

 

Release Agreement

 

This Release Agreement
(the “Agreement”) is entered into by and between Ekso Bionics Holdings, Inc. (the “Company”)
and John Glenn (“Executive”) (collectively, “Parties”).

 

RECITALS 

 

WHEREAS, the Company and
Executive have determined that Executive’s last day of employment with the Company will be __________ (the “Date
of Termination”) in accordance with the terms of the Employment Agreement by and between Executive and the Company, dated
August __, 2018 (the “Employment Agreement”); and

 

WHEREAS, capitalized terms
used but not defined herein shall have the meanings ascribed to such terms in the Employment Agreement.

 

ACCORDINGLY, the Parties
agree as follows:

 

1.           Termination.
Executive’s employment with the Company and any other position held with the Company or any Affiliate shall cease effective
as of the Date of Termination. “Affiliate” means any entity that directly or indirectly controls, is controlled
by, or is under common control with the Company.

 

2.           General
Release. Executive and Executive’s representatives, heirs, successors, and assigns do hereby completely release and forever
discharge the Company, any Affiliate, and its and their present and former shareholders, officers, directors, agents, employees,
attorneys, successors, and assigns (collectively, “Released Parties”) from all claims, rights, demands, actions,
obligations, liabilities, and causes of action of every kind and character, known or unknown, which Executive may have now or in
the future arising from any act or omission or condition occurring on or prior to the Effective Date (as defined below) (including,
without limitation, the future effects of such acts, omissions, or conditions), whether based on tort, contract (express or implied),
or any federal, state, or local law, statute, or regulation (collectively, the “Released Claims”). By way of
example and not in limitation of the foregoing, Released Claims shall include any claims arising under the Fair Labor Standards
Act, the National Labor Relations Act, the Family and Medical Leave Act, Executive Retirement Income Security Act of 1974, the
Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the California
Fair Employment and Housing Act, and the California Family Rights Act, the California Labor Code, all as amended, along with their
implementing regulations, as well as any claims asserting wrongful termination, breach of contract, breach of the covenant of good
faith and fair dealing, negligent or intentional infliction of emotional distress, negligent or intentional misrepresentation,
negligent or intentional interference with contract or prospective economic advantage, defamation, invasion of privacy, and claims
related to disability. Released Claims shall also include, but not be limited to, any claims for severance pay, bonuses, sick leave,
vacation pay, life or health insurance, or any other benefit. Executive likewise releases the Released Parties from any and all
obligations for attorneys’ fees incurred in regard to the above claims or otherwise. Notwithstanding the foregoing, Released
Claims shall not include (i) any claims based on obligations created by or reaffirmed in this Agreement; (ii) any vested
retirement benefits or vested equity, or (iii) any claims which by law cannot be released, including without limitation unemployment
compensation claims and workers’ compensation claims (the settlement of which would require approval by the California Workers’
Compensation Appeals Board), (iv) any claim for indemnification under California Labor Code § 2802, the Employment Agreement,
the Company’s bylaws or certificate of incorporation, or any agreement providing for indemnification of Executive, (v) any
claims for coverage under any D&O or other similar insurance policy or (vi) as set forth in Section 6 below.

 

    	 	-17-	 

     

    

  

3.           Section 1542
Waiver. Executive understands and agrees that the Released Claims include not only claims presently known to Executive, but
also include all unknown or unanticipated claims, rights, demands, actions, obligations, liabilities, and causes of action of every
kind and character that would otherwise come within the scope of the Released Claims as described in Section 2, above. Executive
understands that Executive may hereafter discover facts different from what Executive now believes to be true, which if known,
could have materially affected this Agreement, but Executive nevertheless waives any claims or rights based on different or additional
facts. Executive knowingly and voluntarily waives any and all rights or benefits that Executive may now have, or in the future
may have, under the terms of Section 1542 of the California Civil Code, which provides as follows:

 

A GENERAL RELEASE DOES NOT EXTEND
TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH
IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

 

4.           Covenant
Not to Sue. Executive shall not bring a civil action in any court (or file an arbitration claim) against the Company or any
other Released Party asserting claims pertaining in any manner to the Released Claims. Executive understands that this Section 4
does not prevent Executive from filing a charge with or participating in an investigation by a governmental administrative agency;
provided, that, except for awards made pursuant to a government-administered whistleblower award program as set forth in
Section 6 below, Executive hereby waives any right to receive any monetary award resulting from such a charge or investigation.

 

5.           Age
Discrimination Claims. Executive understands and agrees that, by entering into this Agreement, Executive (i)  is waiving
any rights or claims Executive might have under the Age Discrimination in Employment Act, as amended by the Older Workers Benefit
Protection Act; (ii)  has received consideration beyond that to which Executive was previously entitled; (iii)  has been
advised to consult with an attorney before signing this Agreement; and (iv)  has been offered the opportunity to evaluate
the terms of this Agreement for not less than twenty-one (21) days prior to execution of the Agreement. Executive may revoke
this Agreement (by written notice to the Company’s Chief Executive Officer at the Company’s notice address set forth
in the Compensation Agreement) for a period of seven (7) days after execution of the Agreement, and it shall become enforceable
only upon the expiration of this revocation period without prior revocation by Executive. Executive understands and agrees that
any notice of resignation must be delivered in a manner such that it is received by the Company’s Chief Executive Officer
by the end of the seventh (7th) day after Executive executes this Agreement; and, further, if any modifications are
made to this Agreement before Executive executes it, the twenty-one (21) day consideration period will not restart on account of
those modifications.

 

6.           Protected
Rights; Defend Trade Secrets Act Notification.

 

(a)    Executive
is advised and understands that nothing in this Agreement prevents Executive from filing a charge with, or participating in an
investigation, by or reporting an alleged violation of law to a governmental administrative agency such as the U.S. Equal Employment
Opportunity Commission, the U.S. National Labor Relations Board, or the U.S. Securities and Exchange Commission; provided,
that Executive waives any right to receive any monetary award resulting from such a report, charge or investigation, except pursuant
to a government administered whistleblower award program.

 

    	 	-18-	 

     

    

  

(b)   The
Company hereby provides Executive with notice that 18 U.S.C. § 1833(b) states as follows:

 

“An individual
shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret
that (A) is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney;
and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other
document filed in a lawsuit or other proceeding, if such filing is made under seal.”

 

Accordingly, notwithstanding
anything to the contrary in this Agreement or in the Company’s Proprietary Information Agreement, Executive understands that
Executive has the right to disclose in confidence trade secrets to federal, state, and local government officials, or to an attorney,
for the sole purpose of reporting or investigating a suspected violation of law. Executive understands that Executive also has
the right to disclose trade secrets in a document filed in a lawsuit or other proceeding, but only if the filing is made under
seal and protected from public disclosure. Executive understands and acknowledges that nothing in this Agreement nor in the Company’s
Proprietary Information Agreement is intended to conflict with 18 U.S.C. § 1833(b) or create liability for disclosures of
trade secrets that are expressly allowed by 18 U.S.C. § 1833(b).

 

7.           Non-admission.
The Parties understand and agree that the furnishing of the consideration for this Agreement shall not be deemed or construed at
any time or for any purpose as an admission of liability by the Company. The liability for any and all claims is expressly denied
by the Company.

 

8.            Entire
Agreement. This Agreement constitutes the complete, final and exclusive embodiment of the entire agreement among the Parties
hereto with regard to the subject matter hereof and thereof. This Agreement is entered into without reliance on any promise
or representation, written or oral, other than those expressly contained or referenced herein.

 

9.           Amendments;
Waivers. This Agreement may not be amended except by an instrument in writing, signed by each of the Parties. No failure to
exercise and no delay in exercising any right, remedy, or power under this Agreement shall operate as a waiver thereof, nor shall
any single or partial exercise of any right, remedy, or power under this Agreement preclude any other or further exercise thereof,
or the exercise of any other right, remedy, or power provided herein or by law or in equity.

 

10.          Successors
and Assigns. Executive represents that Executive has not previously assigned or transferred any claims or rights released by
Executive pursuant to this Agreement. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their
respective heirs, successors, attorneys, and permitted assigns. This Agreement shall also inure to the benefit of any Released
Party.

 

11.          Governing
Law. This Agreement shall be governed by and construed in accordance with the law of the State of California, without regard
to conflict of laws provisions. Any action, suit or other legal proceeding arising under or relating to any provision of this Agreement
shall be commenced only in a court of the County of Contra Costa, State of California (or, if appropriate, a federal court located
within California and having jurisdiction of the area including Contra Costa Country), and the Company and Executive each consents
to the jurisdiction of such a court. The Company and Executive each hereby irrevocably waive any right to a trial by jury in any
action, suit or other legal proceeding arising under or relating to any provision of this Agreement.

 

    	 	-19-	 

     

    

  

12.          Interpretation.
This Agreement shall be construed as a whole, according to its fair meaning, and not in favor of or against any Party. By way of
example and not in limitation, this Agreement shall not be construed in favor of the Party receiving a benefit nor against the
Party responsible for any particular language in this Agreement. Captions are used for reference purposes only and should be ignored
in the interpretation of the Agreement.

 

13.          Representation
by Counsel. The Parties acknowledge that (i) they have had the opportunity to consult counsel in regard to this Agreement;
(ii) they have read and understand the Agreement and they are fully aware of its legal effect; and (iii) they are entering
into this Agreement freely and voluntarily, and based on each Party’s own judgment and not on any representations or promises
made by the other Party, other than those contained in this Agreement.

 

14.          Counterparts.
This Agreement may be executed in counterparts. True copies of such executed counterparts may be used in lieu of an original for
any purpose.

 

15.          Effective
Date. This Agreement shall become effective on the eighth (8th) day after the date executed by Executive (the “Effective
Date”), but only if the Agreement is not revoked as provided in Section 5. If the Agreement is revoked, it shall
be null and void.

 

The Parties have duly
executed this Agreement as of the dates noted below.

	 	 	 	 	 	 	 	 	 
	 	 	 	 	Date:	 	 
	John Glenn	 	 	 	 	 	 
	 	 	 	 
	Ekso Bionics Holdings, Inc.	 	 	 	 	 	 
	 	 	 	 	 
	By:	 	 	 	 	 	Date:	 	 
	Its:	 	 	 	 	 	 	 	 

 

    	 	-20-	 

     

    

  

EXHIBIT
B

 

EMPLOYEE
INVENTION ASSIGNMENT and CONFIDENTIALITY AGREEMENT

 

In consideration of, and as a condition
of my employment with Ekso Bionics Holdings, Inc., a Nevada corporation with its principal offices in the State of California (the
 “Company”), or any of its subsidiary or affiliated entities, I, ____________________,
as the “Employee” signing this Employee Invention Assignment and Confidentiality
Agreement (this “Agreement”), hereby represent to the Company, and
the Company and I hereby agree as follows:

 

1.       Purpose
of Agreement. I understand that the Company, together with
its subsidiary and affiliated entities, whether or not separately incorporated (each, including the Company, referred to hereinafter
as an “Ekso Bionics Entity” and collectively as the “Ekso Bionics Entities”) is engaged in
a continuous program of research, development, production and/or marketing in connection with its current and projected business
and that it is critical for the Ekso Bionics Entities to preserve and protect their proprietary information, their rights in certain
inventions and works and in related intellectual property rights. Accordingly, I am entering into this Agreement, whether or not
I am expected to create inventions or other works of value for the Ekso Bionics Entities or any one or more of them. As used in
this Agreement, “Inventions” means inventions, improvements, designs, original works of authorship, formulas,
processes, compositions of matter, computer software programs, databases, mask works, confidential information and trade secrets.

 

2.       Disclosure
of Inventions. I will promptly disclose in confidence to
the Company, or to any person designated by it, all Inventions that I make, create, conceive or first reduce to practice, either
alone or jointly with others, during the period of my employment, whether or not in the course of my employment, and whether or
not patentable, copyrightable or protectable as trade secrets.

 

3.       Work
for Hire; Assigned Inventions. I acknowledge and agree that
any copyrightable works prepared by me within the scope of my employment will be “works made for hire” under the Copyright
Act and that the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company) will be considered
the author and owner of such copyrightable works. I agree that all Inventions that I make, create, conceive or first reduce to
practice during the period of my employment, whether or not in the course of my employment, and whether or not patentable, copyrightable
or protectable as trade secrets, and that (i) are developed using equipment, supplies, facilities or trade secrets of the
Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company); (ii) result from work performed
by me for any Ekso Bionics Entity; or (iii) relate to the business or actual or demonstrably anticipated research or development
of any Ekso Bionics Entity (the “Assigned Inventions”), will be the sole and exclusive property of the
Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company).

 

4.       Excluded
Inventions and Other Inventions. Attached hereto as Exhibit A is a list describing all existing Inventions,
if any, that may relate to the business or actual or demonstrably anticipated research or development of any Ekso Bionics Entity
and that were made by me or acquired by me prior to the Effective Date (as defined in Section 25, below), and which are not to
be assigned to the Company (“Excluded Inventions”). If no such list is attached, I represent and agree
that it is because I have no rights in any existing Inventions that may relate to the business or actual or demonstrably anticipated
research or development of any Ekso Bionics Entity. For purposes of this Agreement, “Other Inventions”
means Inventions in which I have or may have an interest, as of the Effective Date or thereafter, other than Assigned Inventions
and Excluded Inventions. I acknowledge and agree that if, in the scope of my employment with any Ekso Bionics Entity or Entities,
I use any Excluded Inventions or any Other Inventions, or if I include any Excluded Inventions or Other Inventions in any product
or service of any Ekso Bionics Entity or if my rights in any Excluded Inventions or Other Inventions may block or interfere with,
or may otherwise be required for, the exercise by any Ekso Bionics Entity of any rights assigned to any Ekso Bionics Entity under
this Agreement, I will immediately so notify the Company (or such other Ekso Bionics Entity or Entities as may be designated by
the Company) in writing. Unless the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company)
and I agree otherwise in writing as to particular Excluded Inventions or Other Inventions, I hereby grant to the Company (or such
other Ekso Bionics Entity or Entities as may be designated by the Company), in such circumstances (whether or not I give the Company
notice as required above), a perpetual, irrevocable, nonexclusive, transferable, world-wide, royalty-free license to use, disclose,
make, sell, offer for sale, import, copy, distribute, modify and create works based on, perform, and display such Excluded Inventions
and Other Inventions, and to sublicense third parties in one or more tiers of sub-licensees with the same rights.

 

    -21-

     

    

 

5.       Exception
to Assignment. I understand that the Assigned Inventions
will not include, and the provisions of this Agreement requiring assignment of inventions to the Company do not apply to, any invention
that qualifies fully for exclusion under the provisions of Section 2870 of the California Labor Code, which are attached hereto
as Exhibit B.

 

6.       Assignment
of Rights. I agree to assign, and do hereby irrevocably transfer
and assign, to the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company): (i) all of my rights,
title and interests in and with respect to any Assigned Inventions; (ii) all patents, patent applications, copyrights, mask
works, rights in databases, trade secrets, and other intellectual property rights, worldwide, in any Assigned Inventions, along
with any registrations of or applications to register such rights; and (iii) to the extent assignable, any and all Moral Rights
(as defined below) that I may have in or with respect to any Assigned Inventions. I also hereby forever waive and agree never to
assert any Moral Rights I may have in or with respect to any Assigned Inventions and any Excluded Inventions or Other Inventions
licensed to the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company) under Section 4, even
after termination of my employment with all Ekso Bionics Entities. “Moral Rights” means any rights to
claim authorship of a work, to object to or prevent the modification or destruction of a work, to withdraw from circulation or
control the publication or distribution of a work, and any similar right, regardless of whether or not such right is denominated
or generally referred to as a “moral right.” 

 

7.       Assistance.
I will assist the Company, and each other Ekso Bionics Entity as may be designated by the Company, in every proper way to obtain
and enforce for the Ekso Bionics Entities, or any one or more of such entities, all patents, copyrights, mask work rights, trade
secret rights and other legal protections for the Assigned Inventions, worldwide. I will execute and deliver any documents that
the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company) may reasonably request from me
in connection with providing such assistance. My obligations under this section will continue beyond the termination of my employment
with any one or more of the Ekso Bionics Entities; provided that the Company (or such other Ekso Bionics Entity or Entities as
may be designated by the Company) agrees to compensate me at a reasonable rate after such termination for time and expenses actually
spent by me at the request of an Ekso Bionics Entity in providing such assistance. I hereby appoint the Secretary of the Company
as my attorney-in-fact to execute documents on my behalf for this purpose. I agree that this appointment is coupled with an interest
and will not be revocable.

 

8.       Proprietary
Information. I understand that my employment by an Ekso Bionics
Entity creates a relationship of confidence and trust with respect to any information or materials of a confidential or secret
nature that may be made, created or discovered by me or that may be disclosed to me by the applicable Ekso Bionics Entity or a
third party in relation to the business of the Ekso Bionics Entities, jointly or severally, or to the business of any parent, subsidiary,
affiliate, customer or supplier of an Ekso Bionics Entity, or any other party with whom an Ekso Bionics Entity agrees to hold such
information or materials in confidence (the “Proprietary Information”). Without limitation as to the
forms that Proprietary Information may take, I acknowledge that Proprietary Information may be contained in tangible material such
as writings, drawings, samples, electronic media, or computer programs, or may be in the nature of unwritten knowledge or know-how.
Proprietary Information includes, but is not limited to, Assigned Inventions, marketing plans, product plans, designs, data, prototypes,
specimens, test protocols, laboratory notebooks, business strategies, financial information, forecasts, personnel information,
contract information, customer and supplier lists, and the non-public names and addresses of the customers and suppliers of any
Ekso Bionics Entity, their buying and selling habits and special needs.

 

9.       Confidentiality.
At all times, both during my employment and after its termination, I will keep and hold all Proprietary Information in strict confidence
and trust. I will not use or disclose any Proprietary Information without the prior written consent of the Company (or such other
Ekso Bionics Entity or Entities as may be designated by the Company) in each instance, except as may be necessary to perform my
duties as an employee of an Ekso Bionics Entity for the benefit of any Ekso Bionics Entity. Upon termination of my employment with
an Ekso Bionics Entity, I will promptly deliver to the Company (or such other Ekso Bionics Entity or Entities as may be designated
by the Company) all documents and materials of any nature pertaining to my work with all Ekso Bionics Entities, and I will not
take with me or retain in any form any documents or materials or copies containing any Proprietary Information.

 

    -22-

     

    

 

10.       Physical
Property. All documents, supplies, equipment and other physical
property furnished to me by any Ekso Bionics Entity or produced by me or others in connection with my employment will be and remain
the sole property of the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company). I will return
to the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company) all such items when requested
by the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company), excepting only my personal
copies of records relating to my employment or compensation and any personal property I bring with me to my employment with an
Ekso Bionics Entity and designate as such. Even if the Company (or such other Ekso Bionics Entity or Entities as may be designated
by the Company) does not so request, I will upon termination of my employment return to the Company (or such other Ekso Bionics
Entity or Entities as may be designated by the Company) all Ekso Bionics Entity property, and I will not take with me or retain
any such items.

 

11.       No
Breach of Prior Agreements. I represent that my performance
of all the terms of this Agreement and my duties as an employee of any one or more Ekso Bionics Entities will not breach any invention
assignment, proprietary information, confidentiality, non-competition, or other agreement with any former employer or other party.
I represent that I will not bring with me to any Ekso Bionics Entity or use in the performance of my duties for any such entity
any documents or materials or intangibles of my own or of a former employer or third party that are not generally available for
use by the public or have not been legally transferred to an Ekso Bionics Entity.

 

12.       “At
Will” Employment. I understand that this Agreement
does not constitute a contract of employment or obligate the Company or any other Ekso Bionics Entity to employ me for any stated
period of time. I understand that I am an “at will” employee of any Ekso Bionics Entity and that my employment can
be terminated at any time, with or without notice and with or without cause, for any reason or for no reason, by either the Company
(or such other Ekso Bionics Entity or Entities as may be designated by the Company) or by me. I acknowledge that any statements
or representations to the contrary are ineffective, unless put into a writing signed by the Company (or such other Ekso Bionics
Entity or Entities as may be designated by the Company). I further acknowledge that my participation in any stock option or benefit
program is not to be construed as any assurance of continuing employment for any particular period of time.

 

13.       Company
Opportunities; Duty Not to Compete. During the period of
my employment, I will at all times devote my best efforts to the interests of the Ekso Bionics Entities, and I will not, without
the prior written consent of the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company), engage
in, or encourage or assist others to engage in, any other employment or activity that: (i) would divert from the Ekso Bionics Entities
any business opportunity in which any one or more of the Ekso Bionics Entities can reasonably be expected to have an interest;
(ii) would directly compete with, or involve preparation to compete with, the current or future business of any one or more
of the Ekso Bionics Entities; or (iii) would otherwise conflict with the interests of any Ekso Bionics Entity or could cause a
disruption of its operations or prospects.

 

14.       Non-Solicitation
of Employees/Consultants. During my employment with any one
or more of the Ekso Bionics Entities and for a one (1) year period thereafter, I will not directly or indirectly solicit away employees
or consultants of any Ekso Bionics Entity for my own benefit or for the benefit of any other person or entity, nor will I encourage
or assist others to do so.

 

15.       Use
of Name & Likeness. I hereby authorize the Company (or
such other Ekso Bionics Entity or Entities as may be designated by the Company) to use, reuse, and to grant others the right to
use and reuse, my name, photograph, likeness (including caricature), voice, and biographical information, and any reproduction
or simulation thereof, in any form of media or technology now known or hereafter developed, both during and after my employment,
for any purposes related to the business(es) of any one or more of the Ekso Bionics Entities, such as marketing, advertising, credits,
and presentations.

 

    -23-

     

    

 

16.       Notification.
I hereby authorize the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company), during and
after the termination of my employment with any Ekso Bionics Entity, to notify third parties, including, but not limited to, actual
or potential customers or employers, of the terms of this Agreement and my responsibilities hereunder.

 

17.       Injunctive
Relief. I understand that a breach or threatened breach of
this Agreement by me may cause one or more Ekso Bionics Entities to suffer irreparable harm and that the affected Ekso Bionics
Entity/ies will therefore be entitled to injunctive relief to enforce this Agreement.

 

18.       Governing
Law; Severability.  This Agreement is intended to supplement,
and not to supersede, any rights any Ekso Bionics Entity may have in law or equity with respect to the duties of its employees
and the protection of its trade secrets. This Agreement will be governed by and construed in accordance with the laws of the State
of California without giving effect to any principles of conflict of laws that would lead to the application of the laws of another
jurisdiction. If any provision of this Agreement is invalid, illegal or unenforceable in any respect, such provision will be enforced
to the maximum extent possible, given the fundamental intentions of the parties when entering into this Agreement. To the extent
such provision cannot be so enforced, it will be stricken from this Agreement and the remainder of this Agreement will be enforced
as if such invalid, illegal or unenforceable provision had never been contained in this Agreement.

 

19.       Counterparts.
This Agreement may be executed in any number of counterparts, each of which when so executed and delivered will be deemed an original,
and all of which together will constitute one and the same agreement.

 

20.       Entire
Agreement. This Agreement and the documents referred to herein
constitute the entire agreement and understanding of the parties with respect to the subject matter of this Agreement, and supersede
all prior understandings and agreements, whether oral or written, between the parties hereto with respect to such subject matter.

 

21.       Amendment
and Waiver. This Agreement may be amended only by a written
agreement executed by each of the parties to this Agreement. No amendment or waiver of, or modification of any obligation under,
this Agreement will be enforceable unless specifically set forth in a writing signed by the party against which enforcement is
sought. A waiver by either party of any of the terms and conditions of this Agreement in any instance will not be deemed or construed
to be a waiver of such term or condition with respect to any other instance, whether prior, concurrent or subsequent.

 

22.       Successors
and Assigns; Assignment. Except as otherwise provided in
this Agreement, this Agreement, and the rights and obligations of the parties hereunder, will bind and benefit the parties and
their respective successors, assigns, heirs, executors, administrators, and legal representatives. The Company may assign any of
its rights and obligations under this Agreement. I understand that I will not be entitled to assign or delegate this Agreement
or any of my rights or obligations hereunder, whether voluntarily or by operation of law, except with the prior written consent
of the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company).

 

23.       Further
Assurances. The parties will execute such further documents
and instruments and take such further actions as may be reasonably necessary to carry out the purposes and intent of this Agreement.
Upon termination of my employment with all Ekso Bionics Entities, I will execute and deliver a document or documents in a form
reasonably requested by the Company (or such other Ekso Bionics Entity or Entities as may be designated by the Company) confirming
my agreement to comply with the post-employment obligations contained in this Agreement. 

 

    -24-

     

    

 

24.       Acknowledgement.
I certify and acknowledge that I have carefully read all of the
provisions of this Agreement and that I understand and will fully and faithfully comply with this Agreement.

 

25.       Effective
Date of Agreement. This Agreement is and will be effective
on and after the first day of my employment by an Ekso Bionics Entity, which is ________________, _______________, 20__ (the “Effective
Date”).

 

	Company:  Ekso Bionics Holdings, Inc.	 	Employee:  
	 	 	 	 
	By:	 	 	 
	 	 	 	Signature
	 	 	 	 
	Name:	 	 	 
	 	 	 	Name (Please Print full legal name)
	 	 	 	 
	Title:	 	 	 
		 	 	Date of Signature

 

    -25-

     

    

 

Exhibit
A

 

LIST OF
EXCLUDED INVENTIONS UNDER SECTION 4

 

	 	 	 	 	 	Identifying Number	 
	Title	 	Date	 	 	or Brief Description	 
	 	 	 	 	 	 	 	 	 

 

 

______ No
inventions, improvements, or original works of authorship

______ Additional
sheets attached

 

Signature of Employee: ______________________

 

Print Name of Employee: _____________________

 

Date: ____________________________________

 

    -26-

     

    

 

Exhibit
B

 

CALFORNIA
LABOR CODE 2870 NOTICE:

 

California Labor Code Section 2870
provides as follows:

 

Any provision in an employment
agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an invention to his or
her employer shall not apply to an invention that the employee developed entirely on his or her own time without using the employer’s
equipment, supplies, facilities, or trade secret information except for those inventions that either: (1) relate at the time
of conception or reduction to practice of the invention to the employer’s business, or actual or demonstrably anticipated
research or development of the employer; or (2) result from any work performed by the employee for the employer. To the extent
a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from being required
to be assigned under California Labor Code Section 2870(a), the provision is against the public policy of this state and is
unenforceable.

 

 

    -27-Exhibit 4.1

 

COMMON STOCK PURCHASE
WARRANT

 

Citius
Pharmaceuticals, Inc.

 

	WARRANT NO.  _______	 	 
	Warrant Shares: _______	 	Issue Date: August 13, 2018
		 	Initial Exercise Date: August 13, 2018

 

THIS COMMON
STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, _____________ or its assigns
(the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”)
and on or prior to 5:00 p.m. (New York City time) on August 14, 2023 (the “Termination Date”) but not
thereafter, to subscribe for and purchase from Citius Pharmaceuticals, Inc., a Nevada corporation (the
“Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant
Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the
Exercise Price, as defined in Section 2(b). This Warrant is issued pursuant to the
Registration Statement which Registration Statement also registers the Warrant Shares issuable upon exercise of this
Warrant.

 

Section 1. Definitions.
In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

“Bid
Price” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common
Stock is then listed or quoted on a Trading Market, the bid price of the Common Stock for the time in question (or the nearest
preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on
a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading
Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as
applicable, (c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock
are then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all
other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company.

 

    1

     

    

 

“Business
Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or
any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to
close.

 

“Commission”
means the United States Securities and Exchange Commission.

 

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

 

“Common
Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to
acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant 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.

 

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

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Registration
Statement” means the Company’s registration statement on Form S-1 (File No. 333-226395).

 

“Securities
Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Trading
Day” means a day on which the Common Stock is traded on a Trading Market.

 

“Trading
Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on
the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or
the New York Stock Exchange (or any successors to any of the foregoing).

 

“Transfer
Agent” means VStock Transfer, LLC, with offices located at 18 Lafayette Place, Woodmere, NY 11598, and any successor
transfer agent of the Company.

 

“Underwriting
Agreement” means that certain underwriting agreement entered into by and between H.C. Wainwright & Co., LLC and the
Company, dated as of August 9, 2018.

 

    2

     

    

 

“VWAP”
means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed
or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading
Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b)  if OTCQB or OTCQX is not a Trading Market,
the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable,
(c) if the Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then
reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or a similar organization or agency succeeding
to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all
other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith
by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company.

 

“Warrants”
means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement.

 

Section 2. Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile
copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice
of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard
Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver
the aggregate Exercise Price for the Warrant Shares specified in the applicable Notice of Exercise by wire transfer or cashier’s
check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the
applicable Notice of Exercise. No ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other
type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the contrary, the
Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant
Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to
the Company for cancellation within three (3) Trading Days of the date on which the final Notice of Exercise is delivered to the
Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available
hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to
the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant
Shares purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1)
Trading Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that,
by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number
of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

 

    3

     

    

 

b) Exercise
Price. The exercise price per share of Common Stock under this Warrant shall be $1.15, subject to adjustment hereunder
(the “Exercise Price”).

 

c) Cashless
Exercise. If at the time of exercise hereof there is no effective registration statement registering, or the prospectus contained
therein is not available for the issuance of the Warrant Shares to the Holder, then this Warrant may also be exercised, in whole
or in part, at such time by means of a “cashless exercise” in which the Holder shall be entitled to receive a number
of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

		(A) =	as applicable: (i) the VWAP on the Trading Day immediately
preceding the date of the applicable Notice of Exercise if such Notice of Exercise is (1) both executed and delivered pursuant
to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(a) hereof on
a Trading Day prior to the opening of “regular trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated
under the federal securities laws) on such Trading Day, (ii) at the option of the Holder, either (y) the VWAP on the Trading Day
immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal
Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable Notice of Exercise
if such Notice of Exercise is executed during “regular trading hours” on a Trading Day and is delivered within two
(2) hours thereafter (including until two (2) hours after the close of “regular trading hours” on a Trading Day) pursuant
to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise
is a Trading Day and such Notice of Exercise is both executed and delivered pursuant to Section 2(a) hereof after the close of
“regular trading hours” on such Trading Day;

 

		(B) =	the Exercise Price of this Warrant, as adjusted hereunder;
and

 

		(X) =	the number of Warrant Shares that would be issuable upon
exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather
than a cashless exercise.

 

If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9)
of the Securities Act, the Warrant Shares shall take on the registered characteristics of the Warrants being exercised.  The
Company agrees not to take any position contrary to this Section 2(c).

 

    4

     

    

 

Notwithstanding
anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant
to this Section 2(c).

 

d) Mechanics
of Exercise.

 

i. Delivery
of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be transmitted by the Transfer
Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository
Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant
in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or
resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise, and otherwise by physical
delivery of a certificate, registered in the Company’s share register in the name of the Holder or its designee, for the
number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the address specified by the Holder in the
Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days (ii) the number of days comprising the Standard
Settlement Period, in each case after the delivery to the Company of the Notice of Exercise and (iii) one (1) Trading Day after
delivery of the aggregate Exercise Price to the Company (such date, the “Warrant Share Delivery Date”). Upon
delivery of the Notice of Exercise, 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 Warrant Shares,
provided that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received by the Warrant
Share Delivery Date. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to a Notice of Exercise
by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for
each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice
of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin
to accrue) for each Trading Day after such Warrant Share Delivery Date until such Warrant Shares are delivered or the Holder rescinds
such exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant
remains outstanding and exercisable. As used herein, “Standard Settlement Period” means the standard settlement
period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as
in effect on the date of delivery of the Notice of Exercise.

 

    5

     

    

 

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

 

iii. Rescission
Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares pursuant to Section 2(d)(i)
by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

 

iv. 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 Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions
of Section 2(d)(i) above pursuant to an exercise on or before the 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 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 amount obtained by multiplying (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 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 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.

 

    6

     

    

 

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

 

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

 

vii. Closing
of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this
Warrant, pursuant to the terms hereof.

 

e) Holder’s
Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not have the right to exercise
any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after
exercise as set forth on the applicable Notice of Exercise, the Holder (together with the Holder’s Affiliates, and any other
Persons acting as a group together with the Holder or any of the Holder’s Affiliates (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 its Affiliates 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 2(e), 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 Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e)
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. 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 2(e), 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 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 one (1) Trading Day 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%/9.99%] of the number of shares of the Common Stock outstanding
immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon
notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that
the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions
of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the
61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented
in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof)
which may be defective or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or
supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall
apply to a successor holder of this Warrant.

 

    7

     

    

 

Section 3. Certain
Adjustments.

 

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

 

b) Reserved. 

 

c) Subsequent
Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues
or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record
holders of any class of shares of Common Stock (the “Purchase Rights”), then the Holder will be entitled to
acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired
if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to
any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date
on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as
of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights
(provided, however, to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder
exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such
extent (or beneficial ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase
Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in
the Holder exceeding the Beneficial Ownership Limitation).

 

d) Pro
Rata Distributions. During such time as this Warrant is outstanding, 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, scheme of arrangement or other similar transaction) (a “Distribution”),
at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution
to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock
acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation,
the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such
record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in
such Distribution (provided, however, to the extent that the Holder's right to participate in any such Distribution
would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate
in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution
to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if
ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation). To the extent that this
Warrant has not been partially or completely exercised at the time of such Distribution, such portion of the Distribution shall
be held in abeyance for the benefit of the Holder until the Holder has exercised this Warrant.

 

    8

     

    

 

e) Fundamental
Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly,
effects any sale, lease, license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets
in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common
Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization 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, or (v) the Company, directly or indirectly, in one or more related transactions
consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization,
recapitalization, spin-off or scheme of arrangement) with another Person or group of Persons whereby such other Person or group
acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person
or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share
purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent
exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard
to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant
is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise
of this Warrant). 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. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor
Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after,
the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental
Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value
of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided,
however, if the Fundamental Transaction is not within the Company's control, including not approved by the Company's Board
of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity, as of the date of consummation
of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at the Black Scholes Value
(as defined below) of the unexercised portion of this Warrant, that is being offered and paid to the holders of Common Stock of
the Company in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination
thereof, or whether the holders of Common Stock are given the choice to receive from among alternative forms of consideration in
connection with the Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on
the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”)
determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free
interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement
of the applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and
the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public announcement
of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the greater of
(i) the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being offered
in such Fundamental Transaction and (ii) the greater of (x) the last VWAP immediately prior to the public announcement of such
Fundamental Transaction and (y) the last VWAP immediately prior to the consummation of such Fundamental Transaction and (D) a remaining
option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination
Date. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or by delivery of such
other consideration, as applicable) within five Business Days of the Holder’s election (or, if later, on the effective date
of the Fundamental Transaction).  The Company shall cause any successor entity in a Fundamental Transaction in which the Company
is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under
this Warrant in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably
satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall,
at the option of the Holder, deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by
a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number
of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable
and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such
Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of capital stock
(but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value
of such shares of capital stock, such number of shares of capital stock and such exercise price being for the purpose of protecting
the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably
satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity
shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this
Warrant referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power
of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor
Entity had been named as the Company herein.

 

    9

     

    

 

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

 

g) Notice
to Holder.

 

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

 

ii. Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the
Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the
Company shall authorize the granting to all holders of the Common Stock rights or warrants to subscribe for or purchase any shares
of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection
with any reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer
of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation
or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email
to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least
20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which
a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to
be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption,
rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or
share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock
of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon
such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice
or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified
in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant
to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the
date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

 

Section 4. Transfer
of Warrant.

 

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

 

    10

     

    

 

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

 

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

 

Section 5. Miscellaneous.

 

a) No
Rights as Stockholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights,
dividends or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except
as expressly set forth in Section 3. Without limiting the rights of a Holder to receive Warrant Shares on a “cashless exercise,”
and to receive the cash payments contemplated pursuant to Sections 2(d)(i) and 2(d)(iv), in no event will the Company be required
to net cash settle a Warrant exercise.

 

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

 

    11

     

    

 

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

 

d) Authorized
Shares.

 

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

 

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

 

    12

     

    

 

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

 

e) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflict of laws
thereof. Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of this Warrant shall
be commenced in the state and federal courts sitting in the City of New York, Borough of Manhattan (the “New York Courts”).
Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute
hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of
such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding. Each party hereby irrevocably
waives personal service of process and consents to process being served in any such suit, action or proceeding 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 to it under this Warrant and agrees that such service shall constitute good and sufficient service of process and notice
thereof. If either party shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing
party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and
other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.

 

f) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, and the Holder does
not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

 

g) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision
of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any
material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and
expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by
the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

 

    13

     

    

 

h) Notices.
Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without
limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a
nationally recognized overnight courier service, addressed to the Company, at the address set forth above Attention: Jaime
Bartushak, facsimile number (908) 967-6683, email address jbartushak@citiuspharma.com, or such other facsimile number, email address
or address as the Company may specify for such purposes by notice to the Holders. Any and all notices or other communications
or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or email, or
sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email address or
address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall
be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered
via facsimile or email at the facsimile number or email address set forth in this Section prior to 5:30 p.m. (New York City
time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via
facsimile or email at the facsimile number or email address set forth in this Section on a day that is not a Trading Day or
later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if
sent by U.S. nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom such notice is
required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public
information regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission
pursuant to a Current Report on Form 8-K.

 

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

 

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

 

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

 

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

 

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

 

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

 

********************

 

(Signature Page Follows)

 

    14

     

    

 

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

 

	 	Citius Pharmaceuticals, Inc.
	 	 	 
	 	By:	/s/ Myron Holubiak
	 	 	Name: Myron Holubiak
	 	 	Title: CEO

 

    15

     

    

 

NOTICE OF EXERCISE

 

To: Citius
Pharmaceuticals, Inc.

 

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

 

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

 

☐ in lawful
money of the United States; or

 

☐ if permitted
the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 2(c),
to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure
set forth in subsection 2(c).

 

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

 

_______________________________

 

 

The Warrant Shares shall be delivered to
the following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

 

[SIGNATURE
OF HOLDER]

 

Name of Investing Entity: ________________________________________________________________________

Signature of Authorized Signatory of
Investing Entity: _________________________________________________

Name of Authorized Signatory: ___________________________________________________________________

Title of Authorized Signatory: ____________________________________________________________________

Date: ________________________________________________________________________________________

 

     

     

    

 

EXHIBIT B

 

 

ASSIGNMENT
FORM

 

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

 

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

 

	Name:	 	 
	 	 	(Please Print)
	 	 	 
	Address:	 	 
	 	 	(Please Print)
	Phone Number:	 	
	Email Address: 	 	 
	 	 	 
	Dated: _______________ __, ______	 	 
	 	 	 
	Holder’s Signature: _____________________	 	 
	 	 	 
	Holder’s Address:  _____________________

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