Document:

SUBSCRIPTION
AGREEMENT

 

SUBSCRIPTION
AGREEMENT (this “Agreement”) made as of the date set forth on the signature page hereto between BOXLIGHT CORPORATON.,
(the “Company”), and the undersigned (the “Subscriber”).

 

W
I T N E S S E T H:

 

WHEREAS, the Company is conducting a private offering (the “Offering”) on a “best
efforts” basis, consisting of up to a maximum of US$5,000,000 of shares of Company Class A common stock, par value $0.0001
par value per share (the “Common Stock”), pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended
(the “Securities Act”), Rule 506 of Regulation D promulgated under the Securities Act; and/or Regulation S promulgated
under the Securities Act; and

 

WHEREAS,
the Subscriber desires to purchase such number of shares of Company Common Stock (the “Shares”) as set forth
on the omnibus signature page hereto on the terms and conditions hereinafter set forth.

 

NOW,
THEREFORE, in consideration of the premises and the mutual representations and covenants hereinafter set forth, the parties hereto
do hereby agree as follows:

 

		I.	SUBSCRIPTION
                                         FOR SHARES; TERMS OF THE OFFERING AND REPRESENTATIONS BY SUBSCRIBER

 

		A.	Terms
                                         of the Offering

 

1.1
Subject to the terms and conditions hereinafter set forth, the Subscriber hereby subscribes for and agrees to purchase from the
Company, and the Company subject to its right to accept or reject this subscription, agrees to sell to the Subscriber, such aggregate
number of Shares as are set forth on the omnibus signature page hereto for the aggregate purchase price of United States five
dollars and sixty cents (USD$5.60) dollars per Share (the “Per Share Purchase Price”). The number of Shares
and the Per Share Purchase Price are subject to adjustment as set forth in Section 1.7 of this Agreement.

 

1.2
The Per Share Purchase Price is payable by check or wire transfer, to be account of the Company in accordance with the wire instructions
below.

 

Upon
execution of this Agreement on the omnibus signature page and completion of the Investor Certification, the Investor Profile,
the Anti-Money Laundering Information Form and if applicable, the Wire Transfer Authorization (each attached hereto) by a Subscriber,
in connection with the Subscriber’s subscription the Shares, the Subscriber should:

 

	1.	Date
    and Fill in the number of Shares being purchased and Complete and Sign (i) the Subscriber Omnibus Signature Page
    of the Subscription Agreement, attached as Annex A.
	 	 
	2.	Initial
    the Investor Certification attached as Annex B.
	 	 
	3.	Complete
    and Sign the Anti-Money Laundering Information Form attached as Annex C.
	 	 
	4.	Fax
    or email all forms and then send all signed original documents to:

 

Boxlight
Corporation

1045
Progress Circle

Lawrenceville,
GA 30043

Attn:
Sheri Lofgren, CFO

Email:
Sheri@boxlightcorp.com

Tel:
(678) 367-0809, ext. 442

 

    	 	 	 

    	 	 	 

    

 

	5.	If
    Subscriber is paying the Purchase Price by check, a check for the exact dollar amount of the Purchase Price for the amount
    of Shares in U.S. dollars you are offering to purchase should be made payable to the order of “Boxlight Corporation”
    and should be sent to the above address.
	 	 
	6.	If
    Subscriber is paying the Purchase Price by wire transfer, you should send a wire transfer for the exact U.S. dollar amount
    of the Purchase Price of the number of Shares you are offering to purchase according to the following instructions:

 

	 	Bank
    Name:	Suntrust
    Bank
	 	Address:	Atlanta,
    Georgia
	 	Account
    Name:	Boxlight
    Corporation
	 	ABA
    Routing Number:	061000104
	 	Account
    Number:	1000175278836
	 	Swift
    Code:	SNTRUS3A
	 	Reference:	K
    Laser International Co. Ltd.
	 	Contact:	Sheri
    Lofgren

 

1.3
The Shares will be offered for sale, subject to prior completion or termination of the Offering, until September 30, 2016, subject
to the right of the Company to extend the offering period for up to an additional 60 days without notice to prospective subscribers.
The end of the offering period, as such may be extended, is referred to as the “Termination Date”. The Offering
is being conducted on a “best-efforts” basis.

 

1.4
There is no minimum amount of Shares that must be sold to complete the Offering and all proceeds will be retained by the Company.
The Company may conduct multiple Closings through September 30, 2016.

 

1.5
Notwithstanding anything to the contrary, express or implied, contained in this Agreement, the number of Shares to be issued to
the Subscriber and the Per Share Purchases Price shall be subject to adjustment as provided in this Section 1.5.

 

(a)
In the event that the Company shall consummate a “Liquidity Event” (hereinafter defined) and the “Initial
Public Offering Price”, “Reverse Takeover Per Share Price” or “Per Share Consideration” (each a
“Liquidity Event Per Share Price”) received in connection with any IPO, Reverse Takeover or Sale of Control
(as those terms are defined below), shall be less than US Seven ($7.00) Dollars per share, then and in such
event (i) the Per Share Purchase price of the Shares purchased by the Subscriber shall be reduced to eighty (80%) percent of such
Liquidity Event Per Share Price, and (ii) the Company shall not later than ten (10) days following consummation of such Liquidity
Event, issue to the Subscriber that number of additional Shares (the “Make Whole Shares”) as shall be determined
by (A) dividing the Subscription Amount paid by the Subscriber by the Liquidity Event Per Share Price, less (B) the aggregate
number of Shares purchased by the Subscriber and set forth on the omnibus signature page hereto.

 

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(b)
As used in this agreement, the term “Liquidity Event” shall mean any one of the following:

 

(i)
the consummation of an initial public offering of Common Stock of the Company pursuant to a registration statement on Form S-1
that is declared effective by the Securities and Exchange Commission under the Securities Act of 1933 (an “IPO”);
or

 

(ii)
the Company effecting a merger or share exchange with an inactive or primarily inactive publicly traded corporation (“PubCo”)
whose common stock (the “PubCo Common Stock”) is registered under the Securities Exchange Act of 1934, as amended,
and listed on a National Securities Exchange, and as a result of which the holders of the Company’s outstanding Common Stock
on a fully-diluted basis (including the Subscriber and all other subscribers to Shares in this offering (collectively, the “Subscribers”))
will own in excess of 85% of the outstanding common stock of PubCo (a “Reverse Takeover Transaction”); or

 

(iii)
the sale of all or substantially all of the assets or capital stock of the Company, whether by merger, consolidation, tender offer
or like combination, to any Person who is not an Affiliate of the Company or any of the Company’s officers, directors or
principal stockholder (an “Acquiror”), in consideration for common stock or Common Stock Equivalents of such
Acquiror; provided that the common stock of the Acquiror shall then be traded on a National Securities Exchange (a “Sale
of Control Transaction”).

 

(c)
As used in this Agreement, the term “National Securities Exchange” shall mean any one of OTC Markets, Nasdaq
Capital Market, the Nasdaq Stock Exchange LLC, the NYSE MKT or The New York Stock Exchange, Inc.

 

(d)
As used in this Agreement, the term “Issuer” shall mean the collective reference to The Company, Pubco or the
Acquiror, as applicable, at the time of any Conversion Date following the occurrence of a Liquidity Event.

 

(e)
As used in this Agreement the terms “Initial Public Offering Price”, “Reverse Takeover Per Share Price”
and “Per Share Consideration,” comprising a Liquidity Event Per Share Price, shall mean as applicable, either
(i) the initial price per share at which Common Stock is offered to the Public in the IPO, (ii) the volume weighted average closing
prices (“VWAP”) per share of Pubco Common Stock, as traded on any National Securities Exchange for the twenty
(20) consecutive Trading Days immediately following consummation of a Reverse Takeover, or (iii) the per Share purchase price
paid by an Acquiror, whether in cash or in securities, in connection with a Sale of Control.

 

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For
the avoidance of doubt is the intention of the Company intended that the Per Share Purchase Price to be paid by the Subscriber
and the number of Shares (including Make-Whole Shares) to be owned by the Subscriber in the Company, Pubco or the Acquiror, as
applicable, shall be based on eighty (80%) percent of the Liquidity Event Per Share Price. Accordingly, if for example, the Initial
Public Offering Price in connection with an IPO consummated by the Company is US$5.00 per share, then and in such event (a) the
Per Share Purchase Price shall be reduced to US$4.00 per Share and (b) the number of Shares, including the Make-Whole Shares,
to be owned by the Subscriber in the Company, or the Subscriber’s pro-rata portion of common stock of Pubco or the Acquiror,
as applicable, or any entitlement to other consideration issued by Pubco or the Acquiror based on the Liquidity Event Per Share
Price, shall be calculated on dividing the Subscription Amount paid by the Subscriber by US$4.00.

 

1.6
All net proceeds from the sale of the Shares in this Offering shall be used by the Company (a) first to pay a minimum of $2,500,000
representing an installment payment due September 30, 2016 under a $3,960,508 senior secured note of Mimio, LLC owed to Skyview
Capital, LLC (the “Skyview Note”) that was guaranteed by the Company, and (b) next, as additional working capital
for the Company, including reduction of certain indebtedness owed to vendors.

 

		B.	Representations
                                         and Warranties by the Subscriber

 

1.7
The Subscriber recognizes that (a) the purchase of the Shares involves a high degree of risk. Such risks including, but not limited
to, the following: (a) the Company may need additional funds in addition to the proceeds of the Offering and any Alternative Net
Proceeds obtained by the Company; (b) an investment in the Company is highly speculative, and only investors who can afford the
loss of their entire investment should consider investing in the Company and the Shares; (c) the Subscriber may not be able to
liquidate its investment; (d) the other risks associated with the Company’s business and financial condition set forth in
the Company’s registration statement on Form S-1 and preliminary prospectus filed with the Securities and Exchange Commission
(the “SEC”) on August 12, 2016 (the “Registration Statement”). The Subscriber has carefully
reviewed the Registration Statement, including the Risk Factors section therein and is fully aware that an investment
in the Note involved a high degree of risk. The Subscriber further acknowledges that the Registration Statement has not been declared
effective by the SEC, and that the IPO contemplated by the Registration Statement may never be consummated upon the terms set
forth therein, if at all.

 

1.8
The Subscriber meets the requirements of at least one of the suitability standards for an “Accredited Investor” as
that term is defined in Rule 501(a)(3) of Regulation D or is not a “U.S. Person” as that term is defined in Rule 902(k)
of Regulation S, and as set forth on the Investor Certification attached hereto.

 

1.9
If a Subscriber is not a person in the United States or a U.S. Person (as defined in Rule 902(k) of Regulation S) or is not purchasing
the Shares on behalf of a person in the United States or a U.S. Person:

 

(a)
neither the Subscriber nor any disclosed principal is a U.S. Person nor are they subscribing for the Shares for the account of
a U.S. Person or for resale in the United States and the Subscriber confirms that the Shares have not been offered to the Subscriber
in the United States and that this Agreement has not been signed in the United States;

 

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(b)
the Subscriber acknowledges that the Shares have not been registered under the Securities Act and may not be offered or sold in
the United States or to a U.S. Person unless the securities are registered under the Securities Act and all applicable state securities
laws or an exemption from such registration requirements is available, and further agrees that hedging transactions involving
such securities may not be conducted unless in compliance with the U.S. Securities Act;

 

(c)
the Subscriber and if applicable, the disclosed principal for whom the Subscriber is acting, understands that the Company is the
seller of the Shares and that, for purposes of Regulation S, a “distributor” is any underwriter, dealer or other person
who participates pursuant to a contractual arrangement in the distribution of securities sold in reliance on Regulation S and
that an “affiliate” is any partner, officer, director or any person directly or indirectly controlling, controlled
by or under common control with any person in question. Except as otherwise permitted by Regulation S, the Subscriber and if applicable,
the disclosed principal for whom the Subscriber is acting, agrees that it will not, during a one-year (six months if the Company
becomes a mandatory reporting issuer and has been such for at least 90 days) distribution compliance period, act as a distributor,
either directly or through any affiliate, or sell, transfer, hypothecate or otherwise convey the Shares or underlying securities
other than to a non-U.S. Person;

 

(d)
the Subscriber and if applicable, the disclosed principal for whom the Subscriber is acting, acknowledges and understands that
in the event the Shares are offered, sold or otherwise transferred by the Subscriber or if applicable, the disclosed principal
for whom the Subscriber is acting, to a non-U.S Person prior to the expiration of a one-year (six months if the Company becomes
a mandatory reporting issuer and has been such for at least 90 days) distribution compliance period, the purchaser or transferee
must agree not to resell such securities except in accordance with the provisions of Regulation S, pursuant to registration under
the Securities Act, or pursuant to an available exemption from registration; and must further agree not to engage in hedging transactions
with regard to such securities unless in compliance with the Securities Act; and

 

(e)
neither the Subscriber nor any disclosed principal will offer, sell or otherwise dispose of the Shares in the United States or
to a U.S. Person unless (A) the Company has consented to such offer, sale or disposition and such offer, sale or disposition is
made in accordance with an exemption from the registration requirements under the Securities Act and the securities laws of all
applicable states of the United States or, (B) the SEC has declared effective a registration statement in respect of such securities.

 

1.10
The Subscriber hereby acknowledges and represents that (a) the Subscriber has knowledge and experience in business and financial
matters, prior investment experience, including investment in securities that are non-listed, unregistered and/or not traded on
a national securities exchange or the Subscriber has employed the services of a “purchaser representative” (as defined
in Rule 501 of Regulation D), attorney and/or accountant to read all of the documents furnished or made available by the Company
both to the Subscriber and to all other prospective investors in the Shares to evaluate the merits and risks of such an investment
on the Subscriber’s behalf; (b) the Subscriber recognizes the highly speculative nature of this investment; and (c) the
Subscriber is able to bear the economic risk that the Subscriber hereby assumes.

 

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1.11
The Subscriber hereby acknowledges receipt of this Agreement and his or its careful review of the Registration Statement filed
with the SEC, and has received any additional information that the Subscriber has requested from the Company, and has been afforded
the opportunity to ask questions of and receive answers from duly authorized officers or other representatives of the Company
concerning the Company and the terms and conditions of the Offering; provided, however that no investigation performed by or on
behalf of the Subscriber shall limit or otherwise affect its right to rely on the representations and warranties of the Company
contained herein.

 

1.12
(a) In making the decision to invest in the Shares the Subscriber has relied solely upon the information provided by the Company
in this Agreement. To the extent necessary, the Subscriber has retained, at its own expense, and relied upon appropriate professional
advice regarding the investment, tax and legal merits and consequences of this Agreement and the purchase of the Shares hereunder.
The Subscriber disclaims reliance on any statements made or information provided by any person or entity in the course of Subscriber’s
consideration of an investment in the Shares other than this Agreement.

 

(b)
The Subscriber represents that (i) the Subscriber was contacted regarding the sale of the Shares by the Company with whom the
Subscriber had a prior pre-existing relationship and (ii) it did not learn of the offering of the Shares by means of any form
of general solicitation or general advertising, and in connection therewith, the Subscriber did not (A) receive or review any
advertisement, article, notice or other communication published in a newspaper or magazine or similar media or broadcast over
television or radio, whether closed circuit, or generally available; or (B) attend any seminar meeting or industry investor conference
whose attendees were invited by any general solicitation or general advertising.

 

1.13
The Subscriber hereby acknowledges that the Offering has not been reviewed by the SEC nor any state regulatory authority since
the Offering is intended to be exempt from the registration requirements of Section 5 of the Securities Act, pursuant to Section
4(a)(2) of the Securities Act, Rule 506 of Regulation D and/or Regulation S. The Subscriber understands that the Shares have not
been registered under the Securities Act or under any state securities or “blue sky” laws and agrees not to sell,
pledge, assign or otherwise transfer or dispose of the Shares unless they are registered under the Securities Act and under any
applicable state securities or “blue sky” laws or unless an exemption from such registration is available.

 

1.14
The Subscriber understands that the Shares have not been registered under the Securities Act by reason of a claimed exemption
under the provisions of the Securities Act that depends, in part, upon the Subscriber’s investment intention and investment
qualification. In this connection, the Subscriber hereby represents that the Subscriber is purchasing the Shares for the Subscriber’s
own account for investment and not with a view toward the resale or distribution to others; provided, however, that nothing contained
herein shall constitute an agreement by the Subscriber to hold the Shares for any particular length of time and the Company acknowledges
that the Subscriber shall at all times retain the right to dispose of its property as it may determine in its sole discretion,
subject to any restrictions imposed by applicable law. The Subscriber, if an entity, further represents that it was not formed
for the purpose of purchasing the Shares.

 

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1.15
The Subscriber consents to the placement of a legend on any certificate or other document evidencing the Shares that such securities
have not been registered under the Securities Act or any state securities or “blue sky” laws and setting forth or
referring to the restrictions on transferability and sale thereof contained in this Agreement. The Subscriber is aware that the
Company will make a notation in its appropriate records with respect to the restrictions on the transferability of such Shares.

 

1.16
The Subscriber hereby represents that the address of the Subscriber furnished by Subscriber on the omnibus signature page hereof
is the Subscriber’s principal residence if Subscriber is an individual or its principal business address if it is a corporation
or other entity.

 

1.17
Such Subscriber understands that the Shares are “restricted securities” and have not been registered under the Securities
Act or any applicable state securities law and is acquiring the Shares as principal for its own account and not with a view to
or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, has no present intention of distributing any of such Shares in violation of the Securities Act or any applicable state securities
law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution
of such Shares in violation of the Securities Act or any applicable state securities law.

 

1.18
The Subscriber represents that the Subscriber has full power and authority (corporate, statutory and otherwise) to execute and
deliver this Agreement and to purchase the Shares. This Agreement constitutes the legal, valid and binding obligation of the Subscriber,
enforceable against the Subscriber in accordance with its terms.

 

1.19
If the Subscriber is a corporation, partnership, limited liability company, trust, employee benefit plan, individual retirement
account, Keogh Plan, or other tax-exempt entity, it is authorized and qualified to invest in the Company and the person signing
this Agreement on behalf of such entity has been duly authorized by such entity to do so.

 

1.20
The Subscriber understands, acknowledges and agrees with the Company that this subscription may be rejected, in whole or in part,
by the Company, in the sole and absolute discretion of the Company, at any time before any Closing notwithstanding prior receipt
by the Subscriber of notice of acceptance of the Subscriber’s subscription.

 

1.21
The Subscriber acknowledges that certain information contained in this Agreement or otherwise made available to the Subscriber
may be deemed to be confidential and non-public and agrees that all such information shall be kept in confidence by the Subscriber
and neither used by the Subscriber for the Subscriber’s personal benefit (other than in connection with this subscription)
nor disclosed to any third party for any reason, notwithstanding that a Subscriber’s subscription may not be accepted by
the Company; provided, however, that (a) the Subscriber may disclose such information to its affiliates and advisors who may have
a need for such information in connection with providing advice to the Subscriber with respect to its investment in the Company
so long as such affiliates and advisors have an obligation of confidentiality, and (b) this obligation shall not apply to any
such information that (i) is part of the public knowledge or literature and readily accessible at the date hereof, (ii) becomes
part of the public knowledge or literature and readily accessible by publication (except as a result of a breach of this provision)
or (iii) is received from third parties without an obligation of confidentiality (except third parties who disclose such information
in violation of any confidentiality agreements or obligations, including, without limitation, any subscription or other similar
agreement entered into with the Company).

 

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1.22
The Subscriber will indemnify and hold harmless the Company and, where applicable, its directors, officers, employees, agents,
advisors, affiliates and shareholders, and each other person, if any, who controls the Company from and against any and all loss,
liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever
reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation
whether commenced or threatened) (a “Loss”) arising out of or based upon any representation or warranty of
the Subscriber contained herein or in any document furnished by the Subscriber to the Company in connection herewith being untrue
in any material respect or any breach or failure by the Subscriber to comply with any covenant or agreement made by the Subscriber
herein or therein; provided, however, that the Subscriber shall not be liable for any Loss that in the aggregate
exceeds the Subscriber’s aggregate purchase price tendered hereunder.

 

II.
REPRESENTATIONS BY AND WARRANTIES OF THE COMPANY

 

The
Company hereby represents and warrants to the Subscriber that:

 

2.1
Organization, Good Standing and Qualification. The Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of Nevada and has full corporate power and authority to own and use its properties and its
assets and conduct its business as currently conducted. Each of the Company’s subsidiaries (the “Subsidiaries”)
is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation with
the requisite corporate power and authority to own and use its properties and assets and to conduct its business as currently
conducted. Neither the Company, nor any of its Subsidiaries is in violation of any of the provisions of their respective articles
of incorporation, by-laws or other organizational or charter documents, including, but not limited to the Charter Documents (as
defined below). Each of the Company and its Subsidiaries is duly qualified to conduct business and is in good standing as a foreign
corporation in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, would not result in a direct and/or
indirect (i) material adverse effect on the legality, validity or enforceability of any of the Shares and/or this Agreement, (ii)
material adverse effect on the results of operations, assets, business, condition (financial and other) or prospects of the Company
and its Subsidiaries, taken as a whole, or (iii) material adverse effect on the Company’s ability to perform in any material
respect on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a “Material Adverse Effect”).

 

2.2
Capitalization. The authorized issued and outstanding shares of capital stock of the Company and all notes, warrants and
stock options are disclosed and set forth in the Registration Statement. All of such outstanding shares have been duly authorized,
validly issued and are fully paid and non-assessable. No shares of Common Stock are subject to preemptive rights or any other
similar rights or any liens or encumbrances suffered or permitted by the Company. Except as set forth in the Company’s SEC
Filings (i) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital stock of the Company, or contracts, commitments,
understandings or arrangements by which the Company is or may become bound to issue additional shares of capital stock of the
Company or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or
securities or rights convertible into, any shares of capital stock of the Company, (ii) there are no outstanding debt securities
and (iii) there are no agreements or arrangements under which the Company is obligated to register the sale of any of their securities
under the Securities Act, and (iv) there are no outstanding registration statements and there are no outstanding comment letters
from the SEC or any other regulatory agency. There are no securities or instruments containing anti-dilution or similar provisions
that will be triggered by the issuance of the Shares as described in this Agreement. The Shares, when issued, will be free and
clear of all pledges, liens, encumbrances and other restrictions (other than those arising under federal or state securities laws
as a result of the issuance of the Shares). No co-sale right, right of first refusal or other similar right exists with respect
to the Shares or the issuance and sale thereof. The issue and sale of the Shares will not result in a right of any holder of Company
securities to adjust the exercise, exchange or reset price under such securities. The Company has made available to the Subscriber
true and correct copies of the Company’s Articles of Incorporation, and as in effect on the date hereof (the “Articles
of Incorporation”), and the Company’s By-laws, as in effect on the date hereof (the “By-laws”).

 

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2.3
Authorization; Enforceability. The Company has all corporate right, power and authority to enter into, execute and deliver
this Agreement and each other agreement, document, instrument and certificate to be executed by the Company in connection with
the consummation of the transactions contemplated hereby, including, but not limited to this Agreement and to perform fully its
obligations hereunder and thereunder. All corporate action on the part of the Company, its directors and stockholders necessary
for the (a) authorization execution, delivery and performance of this Agreement by the Company; and (b) authorization, sale, issuance
and delivery of the Shares contemplated hereby and the performance of the Company’s obligations under this Agreement has
been taken. This Agreement has been duly executed and delivered by the Company and each constitutes a legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with its respective terms, subject to laws of general
application relating to bankruptcy, insolvency and the relief of debtors and rules of law governing specific performance, injunctive
relief or other equitable remedies, and to limitations of public policy. The Shares are duly authorized and, when issued and paid
for in accordance with the applicable this Agreement, will be duly and validly issued, fully paid and non-assessable, free and
clear of all Encumbrances other than restrictions on transfer provided for in this Agreement. The issuance and sale of the Shares
contemplated hereby will not give rise to any preemptive rights or rights of first refusal.

 

2.4
No Conflict; Governmental Consents.

 

(a)
The execution and delivery by the Company of this Agreement, the issuance and sale of the Shares and the consummation of the other
transactions contemplated hereby or thereby do not and will not (i) result in the violation of any law, statute, rule, regulation,
order, writ, injunction, judgment or decree of any court or governmental authority to or by which the Company is bound including
without limitation all foreign, federal, state and local laws applicable to its business and all such laws that affect the environment,
except in each case as could not have or reasonably be expected to result in a Material Adverse Effect, (ii) conflict with or
violate any provision of the Company’s Articles of Incorporation (the “Articles”), as amended or the Bylaws,
(and collectively with the Articles, the “Charter Documents”) of the Company, and (iii) conflict with, or result in
a material breach or violation of, any of the terms or provisions of, or constitute (with or without due notice or lapse of time
or both) a default or give to others any rights of termination, amendment, acceleration or cancellation (with or without due notice,
lapse of time or both) under any agreement, credit facility, lease, loan agreement, mortgage, security agreement, trust indenture
or other agreement or instrument to which the Company or any Subsidiary is a party or by which any of them is bound or to which
any of their respective properties or assets is subject, nor result in the creation or imposition of any Encumbrances upon any
of the properties or assets of the Company or any Subsidiary.

 

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(b)
No approval by the holders of Common Stock, or other equity securities of the Company is required to be obtained by the Company
in connection with the authorization, execution, delivery and performance of this Agreement or in connection with the authorization,
issue and sale of the Shares except as has been previously obtained.

 

(c)
No consent, approval, authorization or other order of any governmental authority or any other person is required to be obtained
by the Company in connection with the authorization, execution, delivery and performance of this Agreement or in connection with
the authorization, issue and sale of the Shares and, upon issuance, the Shares, except such post-sale filings as may be required
to be made with the SEC and with any state or foreign blue sky or securities regulatory authority, all of which shall be made
when required.

 

2.5
Consents of Third Parties  . No vote, approval or consent of any holder of capital stock of the Company or
any other third parties is required or necessary to be obtained by the Company in connection with the authorization, execution,
deliver and performance of this Agreement or in connection with the authorization, issue and sale of the Shares, except as previously
obtained, each of which is in full force and effect.

 

2.6
Licenses. The Company and its Subsidiaries have sufficient licenses, permits and other governmental authorizations currently
required for the conduct of their respective businesses or ownership of properties and each is in all material respects in compliance
therewith.

 

2.7
Litigation. Except as disclosed in the Registration Statement, the Company knows of no pending or threatened legal or governmental
proceedings against the Company or any Subsidiary which could materially adversely affect the business, property, financial condition
or operations of the Company and its Subsidiaries, taken as a whole, or which materially and adversely questions the validity
of this Agreement or the right of the Company to enter into this Agreement, or to perform its obligations hereunder and thereunder.
Neither the Company nor any Subsidiary is a party or subject to the provisions of any order, writ, injunction, judgment or decree
of any court or government agency or instrumentality which could materially adversely affect the business, property, financial
condition or operations of the Company and its Subsidiaries taken as a whole. There is no action, suit, proceeding or investigation
by the Company or any Subsidiary currently pending in any court or before any arbitrator or that the Company or any Subsidiary
intends to initiate. Neither the Company nor any Subsidiary, nor any director or officer thereof, is or since the filing of the
Registration Statement has been the subject of any action involving a claim of violation of or liability under federal or state
securities laws or a claim of breach of fiduciary duty. There has not been, and to the Company’s knowledge, there is not
pending or contemplated, any investigation by the SEC involving the Company or any current or former director or officer of the
Company.

 

    	 	 	 10

    	 	 	 

    

 

2.8
Compliance. Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary
under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation
of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any
of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree
or order of any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance
or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating
to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters,
except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

 

2.9
Regulatory Permits. The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the
appropriate federal, state, local or foreign regulatory authorities necessary to conduct their respective businesses, except where
the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (“Material Permits”),
and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of
any Material Permit.

 

2.10
Disclosure. The information set forth in this Agreement as of the date hereof and as of the date of each Closing contains
no untrue statement of a material fact nor omits to state a material fact necessary in order to make the statements contained
therein, in light of the circumstances under which they were made, not misleading.

 

2.11
Investment Company. The Company is not an “investment company” within the meaning of such term under the Investment
Company Act of 1940, as amended, and the rules and regulations of the SEC thereunder.

 

2.12
Brokers. Neither the Company nor any of the Company’s officers, directors, employees or stockholders has employed
or engaged any broker or finder in connection with the transactions contemplated by this Agreement and no fee or other compensation
is or will be due and owing to any broker, finder, underwriter, placement agent or similar person in connection with the transactions
contemplated by this Agreement. The Company is not party to any agreement, arrangement or understanding whereby any person has
an exclusive right to raise funds and/or place or purchase any debt or equity securities for or on behalf of the Company.

 

    	 	 	 11

    	 	 	 

    

 

2.13
Intellectual Property; Employees.

 

(a)
The Company owns or possesses sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade
secrets, licenses, information and other proprietary rights and processes necessary for its business as now conducted and as presently
proposed to be conducted, without any known infringement of the rights of others and which the failure to so have could have a
Material Adverse Effect (collectively, the “Intellectual Property Rights”).

 

(b)
To the Company’s knowledge, no employee of the Company, nor any consultant with whom the Company has contracted, is in violation
of any term of any employment contract, proprietary information agreement or any other agreement and to the Company’s knowledge
the continued employment by the Company of its present employees, and the performance of the Company’s contracts with its
independent contractors, will not result in any such violation.

 

2.14
Title to Properties and Assets; Liens, Etc. The Company has good and marketable title to its properties and assets, including
the properties and assets reflected in the most recent balance sheet included in the Company’s financial statements, and
good title to its leasehold estates, in each case subject to no Encumbrances, other than (a) those resulting from taxes which
have not yet become delinquent; and (b) Encumbrances which do not materially detract from the value of the property subject thereto
or materially impair the operations of the Company; and (c) those that have otherwise arisen in the ordinary course of business,
none of which are material. The Company is in compliance with all material terms of each lease to which it is a party or is otherwise
bound.

 

2.15
Material Changes. Since the date of the latest financial statements included within the SEC Reports (i) there has been
no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect,
(ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables, accrued expenses and
other liabilities incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to
be reflected in the Company’s financial statements pursuant to generally accepted accounting principles or required to be
disclosed in filings made with the SEC, (iii) the Company has not altered its method of accounting or the identity of its auditors,
(iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased,
redeemed or made any agreements to purchase or redeem any shares of its capital stock, and (v) the Company has not issued any
equity securities to any officer, director or affiliate, except pursuant to existing Company stock option plans. The Company does
not have pending before the SEC any request for confidential treatment of information.

 

2.16
Disclosure. All disclosure furnished by or on behalf of the Company to the Subscriber in this Agreement regarding the Company,
its business and the transactions contemplated hereby is true and correct and does not contain any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances
under which they were made, not misleading.

 

	III.	TERMS
                                         OF SUBSCRIPTION

 

3.1
The minimum purchase that may be made by any prospective investor shall be US$25,000. Subscriptions for investment below the minimum
investment may be accepted at the discretion of the Company. The Company reserves the right to reject any subscription made hereby,
in whole or in part, in its sole discretion. The Company’s agreement with each Subscriber is a separate agreement and the
sale of the Shares to each Subscriber is a separate sale. 

 

    	 	 	 12

    	 	 	 

    

 

 

	IV.	CONDITIONS
                                         TO OBLIGATIONS OF THE SUBSCRIBER

 

4.1
The Subscriber’s obligation to purchase the Shares at the Closing at which such purchase is to be consummated is subject
to the fulfillment on or prior to such Closing of the following conditions, which conditions may be waived at the option of each
Subscriber to the extent permitted by law:

 

(a)
Representations and Warranties; Covenants. The representations and warranties made by the Company in Section 2 hereof qualified
as to materiality shall be true and correct as of the Initial Closing at all times prior to and on the Closing Date, except (i)
to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation or
warranty shall be true and correct as of such earlier date, and, (ii) the representations and warranties made by the Company in
Section 2 hereof not qualified as to materiality shall be true and correct in all material respects at all times prior to and
on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which
case such representation or warranty shall be true and correct in all material respects as of such earlier date. All covenants,
agreements and conditions contained in this Agreement to be performed by the Company on or prior to the date of such Closing shall
have been performed or complied with in all material respects.

 

(b)
No Legal Order Pending. There shall not then be in effect any legal or other order enjoining or restraining the transactions
contemplated by this Agreement.

 

(c)
No Law Prohibiting or Restricting Such Sale. There shall not be in effect any law, rule or regulation prohibiting or restricting
such sale or requiring any consent or approval of any person, which shall not have been obtained, to issue the Shares (except
as otherwise provided in this Agreement).

 

(d)
Required Consents. The Company shall have obtained any and all consents, permits, approvals, registrations and waivers
necessary or appropriate for consummation of the purchase and sale of the Shares and the consummation of the other transactions
contemplated by this Agreement, all of which shall be in full force and effect.

 

	V.	COVENANTS
                                         OF THE COMPANY

 

5.1
Transfer Restrictions.

 

(a)
The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares
other than pursuant to an effective registration statement or Rule 144 promulgated under the Securities Act, to the Company or
to an affiliate of a Subscriber or in connection with, the Company may require the transferor thereof to provide to the Company
an opinion of counsel selected by the transferor and reasonably acceptable to the Company, the form and substance of which opinion
shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred
Shares under the Securities Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms
of this Agreement, and shall have the rights of a Subscriber under this Agreement.

 

    	 	 	 13

    	 	 	 

    

 

 

(b)
The Subscriber agrees to the imprinting, so long as is required by this Section 5.1, of a legend on any of the Shares, in the
following form:

 

THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

(c)
Certificates evidencing the Shares shall not contain any legend (including the legend set forth in Section 5.1(b) hereof): (i)
while a registration statement covering the resale of such security is effective under the Securities Act, or (ii) following any
sale of such Shares pursuant to Rule 144, or (iii) if such legend is not required under applicable requirements of the Securities
Act (including judicial interpretations and pronouncements issued by the staff of the SEC). The Company shall cause its counsel,
at the Company’s expense, to issue a legal opinion to the Company’s transfer agent promptly if required by the Company’s
transfer to effect the removal of the legend hereunder.

 

5.2
Reservation of Shares. The Company shall at all times reserve from its duly authorized shares of Common Stock of a number
of shares of Common Stock sufficient to allow for the issuance of the Shares.

 

5.3
Replacement of Shares. If any certificate or instrument evidencing any Shares res is mutilated, lost, stolen or destroyed,
the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and
substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company
of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate
or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance of such replacement
Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof, the Company
may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

5.4
Form D; Blue Sky Filings. The Company agrees to timely file a Form D with respect to the Shares, to the extent applicable,
under Regulation D promulgated under the Securities Act. The Company shall take such action as the Company shall reasonably determine
is necessary in order to obtain an exemption for, or to qualify the Shares for, sale to the Subscriber at the Closing under applicable
securities or “Blue Sky” laws of the states of the United States, and shall provide evidence of such actions promptly
upon request of any Subscriber.

 

5.5
Equal Treatment of Subscribers. No consideration (including any modification of any Transaction Document) shall be offered
or paid to any person to amend or consent to a waiver or modification of any provision of any of this Agreement unless the same
consideration is also offered to all of the parties to this Agreement.

 

    	 	 	 14

    	 	 	 

    

 

5.6
Indemnification.

 

(a)
The Company agrees to indemnify and hold harmless the Subscriber, its affiliates and their respective officers, directors, employees,
agents and controlling persons (collectively, the “Indemnified Parties”) from and against , any and all loss,
liability, damage or deficiency suffered or incurred by any Indemnified Party by reason of any misrepresentation or breach of
warranty by the Company or, after any applicable notice and/or cure periods, nonfulfillment of any covenant or agreement to be
performed or complied with by the Company under this Agreement, this Agreement; and will promptly reimburse the Indemnified Parties
for all expenses (including reasonable fees and expenses of legal counsel) as incurred in connection with the investigation of,
preparation for or defense of any pending or threatened claim related to or arising in any manner out of any of the foregoing,
or any action or proceeding arising therefrom (collectively, “Proceedings”), whether or not such Indemnified Party
is a formal party to any such Proceeding.

 

(b)
If for any reason (other than a final non-appealable judgment finding any Indemnified Party liable for losses, claims, damages,
liabilities or expenses for its gross negligence or willful misconduct) the foregoing indemnity is unavailable to an Indemnified
Party or insufficient to hold an Indemnified Party harmless, then the Company shall contribute to the amount paid or payable by
an Indemnified Party as a result of such loss, claim, damage, liability or expense in such proportion as is appropriate to reflect
not only the relative benefits received by the Company on the one hand and the Advisor on the other, but also the relative fault
by the Company and the Indemnified Party, as well as any relevant equitable considerations.

 

5.7
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by this
Agreement, the Company covenants and agrees that neither it, nor any other person acting on its behalf, will provide Subscriber
or its agents or counsel with any information that the Company believes constitutes material non-public information, unless prior
thereto Subscriber shall have executed a written agreement regarding the confidentiality and use of such information. The Company
understands and confirms that Subscriber shall be relying on the foregoing covenant in effecting transactions in Shares of the
Company.

 

VI.
MISCELLANEOUS

 

6.1
Except as otherwise provided herein, this Agreement shall not be changed, modified or amended except by a writing signed by the
parties to be charged, and this Agreement may not be discharged except by performance in accordance with its terms or by a writing
signed by the party to be charged. No waiver of any default with respect to any provision, condition or requirement of this Agreement
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair
the exercise of any such right.

 

    	 	 	 15

    	 	 	 

    

 

6.2
This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives,
successors and assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written
consent of Subscriber (other than by merger). Subscriber may assign any or all of its rights under this Agreement to any person
to whom Subscriber assigns or transfers any Shares, provided that such transferee agrees in writing to be bound, with respect
to the transferred Shares, by the provisions of this Agreement

 

6.3
This Agreement, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect
to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters,
which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

6.4
Upon the execution and delivery of this Agreement by the Subscriber and the Company, this Agreement shall become a binding obligation
of the Subscriber with respect to the purchase of Shares as herein provided, subject, however, to the right hereby reserved by
the Company to enter into the same agreements with other Subscriber and to reject any subscription, in whole or in part, provided
the Company returns to Subscriber any funds paid by Subscriber with respect to such rejected subscription or portion thereof,
without interest or deduction.

 

6.5
All questions concerning the construction, validity, enforcement and interpretation of this Agreement 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 conflicts
of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of the transactions
contemplated by this Agreement and any other this Agreement (whether brought against a party hereto or its respective affiliates,
directors, officers, shareholders, employees or agents) shall be commenced exclusively in the state and federal courts sitting
in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of this Agreement),
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 any such court, that such suit, action or proceeding is improper or is an inconvenient venue for
such proceeding.

 

6.6
In order to discourage frivolous claims the parties agree that unless a claimant in any proceeding arising out of this Agreement
succeeds in establishing his claim and recovering a judgment against another party (regardless of whether such claimant succeeds
against one of the other parties to the action), then the other party shall be entitled to recover from such claimant all of its/their
reasonable legal costs and expenses relating to such proceeding and/or incurred in preparation therefor.

 

6.7
The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect
any other provision of this Agreement, which shall remain in full force and effect. If any provision of this Agreement shall be
declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, such
provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent with applicable law and
the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable
to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any other covenant or provision
unless so expressed herein.

 

    	 	 	 16

    	 	 	 

    

 

6.8
It is agreed that a waiver by either party of a breach of any provision of this Agreement shall not operate, or be construed,
as a waiver of any subsequent breach by that same party.

 

6.9
The Company agrees to execute and deliver all such further documents, agreements and instruments and take such other and further
action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.

 

6.10
This Agreement may be executed in two or more counterparts each of which shall be deemed an original, but all of which shall together
constitute one and the same instrument. In the event that any signature is delivered by facsimile transmission or by e-mail delivery
of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature
page were an original thereof.

 

6.11
Nothing in this Agreement shall create or be deemed to create any rights in any person or entity not a party to this Agreement.

 

6.12
In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, the Subscriber
and the Company will be entitled to specific performance under this Agreement. The parties agree that monetary damages may not
be adequate compensation for any loss incurred by reason of any breach of obligations described in the foregoing sentence and
hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would be
adequate.

 

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

 

Signature
page follow

 

    	 	 	 17

    	 	 	 

    

 

IN
WITNESS WHEREOF, the Subscriber and the Company have caused this Subscription Agreement to be duly executed as of the
date first written above.

 

	 	COMPANY:
	 	 
	 	BOXLIGHT
    CORPORATION
	 	 	 
	 	By:	
	 	Name:	Mark
    Elliott
	 	Title:	Chief
    Executive Officer

 

	 	SUBSCRIBER:
	 	 
	 	The
    Subscriber executing the Subscriber Omnibus Signature Page in the form attached hereto as Annex A and delivering the
    same to the Company or its agents shall be deemed to have executed this Agreement and agreed to the terms hereof.

 

    	 	 	 

    	 	 	 

    

 

ANNEX
A

 

SUBSCRIBER
OMNIBUS SIGNATURE PAGE

TO

SUBSCRIPTION
AGREEMENT

AND
ESCROW AGREEMENT

 

The
undersigned, desiring to: (i) enter into the Subscription Agreement, dated as of _______________[1], 2016 (the “Securities
Purchase Agreement”), between the undersigned, Boxlight Corporation, a Nevada corporation (the “Company”),
and the other parties thereto, in or substantially in the form furnished to the undersigned, (ii) enter into the Escrow Agreement
between the undersigned, the Company and the Escrow Agent; and (iii) purchase the Shares of the Company as set forth below, hereby
agrees to purchase such Shares from the Company and further agrees to join the Subscription Agreement and the Escrow Agreement
as a party thereto, with all the rights and privileges appertaining thereto, and to be bound in all respects by the terms and
conditions thereof. The undersigned specifically acknowledges having read the representations section in the Subscription Agreement
entitled “Subscriber’s Representations and Warranties,” and hereby represents that the statements contained
therein are complete and accurate with respect to the undersigned as a Subscriber.

 

The
Subscriber hereby elects to purchase 178,572 Shares in the face amount of US $1,000,003.20 (to be completed by the Subscriber)
under the Subscription Agreement.

 

	SUBSCRIBER
    (individual)	 	SUBSCRIBER
    (entity)
	 	 	 
	 	 	K
                                         Laser International Co., Ltd.

	Signature	 	Name
    of Entity
	 	 	 
	 	 	 
	Print
    Name	 	Signature
	 	 	
	 	 	Print
    Name: Wei Wu (Alex) Kuo
	Signature
    (if Joint Tenants or Tenants in Common)	 	Title:
    CEO
	 	 	 
	Address
    of Principal Residence:	 	Address
    of Executive Offices:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Social
    Security Number(s):	 	IRS
    Tax Identification Number: 
	 	 	 
	 	 	 
	Telephone
    Number:	 	Telephone
    Number: 
	 	 	 
	 	 	 
	Facsimile
    Number:	 	Facsimile
    Number: 
	 	 	 
	 	 	 

  

 

1
Will reflect the Closing Date. Not to be
completed by Subscriber.

 

    	 	 	 

    	 	 	 

    

 

ANNEX
B

 

BOXLIGHT
CORPORATION

 

INVESTOR
CERTIFICATION

 

For
Individual Accredited Investors Only

 

(all
Individual Accredited Investors must INITIAL where appropriate):

 

	Initial
    _______	I
    have a net worth of at least $1 million either individually or through aggregating my individual holdings and those in which
    I have a joint, community property or other similar shared ownership interest with my spouse. (For purposes of calculating
    your net worth under this paragraph, (a) your primary residence shall not be included as an asset; (b) indebtedness secured
    by your primary residence, up to the estimated fair market value of your primary residence at the time of your purchase of
    the securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time
    of your purchase of the securities exceeds the amount outstanding 60 days before such time, other than as a result of the
    acquisition of your primary residence, the amount of such excess shall be included as a liability); and (c) indebtedness that
    is secured by your primary residence in excess of the estimated fair market value of your primary residence at the time of
    your purchase of the securities shall be included as a liability.)
	 	 
	Initial
    _______	I
    have had an annual gross income for the past two years of at least $200,000 (or $300,000 jointly with my spouse) and expect
    my income (or joint income, as appropriate) to reach the same level in the current year.
	 	 
	Initial
    _______	I
    am a director or executive officer of Boxlight Corporation

 

For
Non-Individual Accredited Investors

 

(all
Non-Individual Accredited Investors must INITIAL where appropriate):

 

	Initial
    _______	The
    investor certifies that it is a partnership, corporation, limited liability company or business trust that is 100% owned by
    persons who meet at least one of the criteria for Individual Investors set forth above. 
	 	 
	Initial
    _______	The
    investor certifies that it is a partnership, corporation, limited liability company or business trust that has total assets
    of at least $5 million and was not formed for the purpose of investing the Company.
	 	 
	Initial
    _______	The
    investor certifies that it is an employee benefit plan whose investment decision is made by a plan fiduciary (as defined in
    ERISA §3(21)) that is a bank, savings and loan association, insurance company or registered investment advisor.
	 	 
	Initial
    _______	The
    investor certifies that it is an employee benefit plan whose total assets exceed $5,000,000 as of the date of this Agreement.
	 	 
	Initial
    _______	The
    undersigned certifies that it is a self-directed employee benefit plan whose investment decisions are made solely by persons
    who meet at least one of the criteria for Individual Investors.
	 	 
	Initial
    _______	The
    investor certifies that it is a U.S. bank, U.S. savings and loan association or other similar U.S. institution acting in its
    individual or fiduciary capacity.
	 	 
	Initial
    _______	The
    undersigned certifies that it is a broker-dealer registered pursuant to §15 of the Securities Exchange Act of 1934.

 

    	 	 	 

    	 	 	 

    

 

ANNEX
B

 

	Initial
    _______	The
    investor certifies that it is an organization described in §501(c)(3) of the Internal Revenue Code with total assets
    exceeding $5,000,000 and not formed for the specific purpose of investing in the Company.
	 	 
	Initial
    _______	The
    investor certifies that it is a trust with total assets of at least $5,000,000, not formed for the specific purpose of investing
    in the Company, and whose purchase is directed by a person with such knowledge and experience in financial and business matters
    that such person is capable of evaluating the merits and risks of the prospective investment.
	 	 
	Initial
    _______	The
    investor certifies that it is a plan established and maintained by a state or its political subdivisions, or any agency or
    instrumentality thereof, for the benefit of its employees, and which has total assets in excess of $5,000,000.
	 	 
	Initial
    _______	The
    investor certifies that it is an insurance company as defined in §2(13) of the Securities Act of 1933, or a registered
    investment company.

 

For
Non-U.S. Person Investors

 

(all
Investors who are not a U.S. Person must INITIAL this section):

 

Initial
_______    The investor is not a “U.S. Person” as defined in Regulation S; and specifically the
investor is not:

 

	A.	a
    natural person resident in the United States of America, including its territories and possessions (“United States”);
	 	 
	B.	a
    partnership or corporation organized or incorporated under the laws of the United States;
	 	 
	C.	an
    estate of which any executor or administrator is a U.S. Person;
	 	 
	D.	a
    trust of which any trustee is a U.S. Person;
	 	 
	E.	an
    agency or branch of a foreign entity located in the United States;
	 	 
	F.	a
    non-discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary for the benefit
    or account of a U.S. Person;
	 	 
	G.	a
    discretionary account or similar account (other than an estate or trust) held by a dealer or other fiduciary organized, incorporated,
    or (if an individual) resident in the United States; or
	 	 
	H.	a
    partnership or corporation: (i) organized or incorporated under the laws of any foreign jurisdiction; and (ii) formed by a
    U.S. Person principally for the purpose of investing in securities not registered under the Securities Act, unless it is organized
    or incorporated, and owned, by accredited investors (as defined in Rule 501(a) under the Securities Act) who are not natural
    persons, estates or trusts.

 

And,
in addition:

 

	I.	the
    investor was not offered the securities in the United States;
	 	 
	J.	at
    the time the buy-order for the securities was originated, the investor was outside the United States; and
	 	 
	K.	the
    investor is purchasing the securities for its own account and not on behalf of any U.S. Person (as defined in Regulation S)
    and a sale of the securities has not been pre-arranged with a purchaser in the United States.

 

    	 	 	 

    	 	 	 

    

 

ANNEX
C

 

ANTI-LAUNDERING
REQUIREMENTS

 

The
USA PATRIOT Act

 

The
USA PATRIOT Act is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money
laundering requirements on brokerage firms and financial institutions. Since April 24, 2002 all brokerage firms have been required
to have new, comprehensive anti-money laundering programs.

 

To
help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement
the USA PATRIOT Act.

 

What
is money laundering?

 

Money
laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities.
Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery,
fraud, racketeering, and terrorism.

 

How
big is the problem and why is it important?

 

The
use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets.
According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion
a year.

 

What
are we required to do to eliminate money laundering?

 

Under
rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee
training, conduct independent audits, and establish policies and procedures to detect and report suspicious transaction and ensure
compliance with such laws. As part of our required program, we may ask you to provide various identification documents or other
information. Until you provide the information or documents we need, we may not be able to effect any transactions for you.

 

    	 	 	 

    	 	 	 

    

 

ANTI-MONEY
LAUNDERING INFORMATION FORM

The
following is required in accordance with the AML provision of the USA PATRIOT ACT.

 

(Please
fill out and return with requested documentation.)

 

INVESTOR
NAME: K Laser International Co., Ltd._____________________________ 

 

LEGAL
ADDRESS: ______________________________________________________ 

 

                                    ______________________________________________________

 

SSN#
or TAX ID# 

OF
INVESTOR:   ______________________________________________________ 

 

YEARLY
INCOME: __________________________________________________________ 

 

FOR
INVESTORS WHO ARE INDIVIDUALS: AGE: ________________________________ 

 

NET
WORTH: ______________________________________________________________ *

 

	*	For
                                         purposes of calculating your net worth in this form, (a) your primary residence shall
                                         not be included as an asset; (b) indebtedness secured by your primary residence,
                                         up to the estimated fair market value of your primary residence at the time of your purchase
                                         of the securities, shall not be included as a liability (except that if the amount of
                                         such indebtedness outstanding at the time of your purchase of the securities exceeds
                                         the amount outstanding 60 days before such time, other than as a result of the acquisition
                                         of your primary residence, the amount of such excess shall be included as a liability);
                                         and (c) indebtedness that is secured by your primary residence in excess of the estimated
                                         fair market value of your primary residence at the time of your purchase of the securities
                                         shall be included as a liability.

 

FOR
INVESTORS WHO ARE INDIVIDUALS: OCCUPATION: _____________________________________ 

 

ADDRESS
OF BUSINESS OR OF EMPLOYER:__________________________________________________ 

 

_________________________________________________________________________________________

 

FOR
INVESTORS WHO ARE ENTITIES:

 

YEARLY
INCOME: __________ NET WORTH: __________

 

TYPE
OF BUSINESS: ____________________________________

 

INVESTMENT
OBJECTIVE(S) (FOR ALL INVESTORS): __________________________________________ 

 

IDENTIFICATION
& DOCUMENTATION AND SOURCE OF FUNDS:

 

	1.	Please
    submit a copy of non-expired identification for the authorized signatory(ies) on the investment documents, showing name, date
    of birth, address and signature. The address shown on the identification document MUST match the Investor’s address
    shown on the Investor Signature Page.

 

	Current
    Driver’s License	or	Valid
    Passport	or	Identity
    Card

(Circle
one or more)

 

	2.	If
    the Investor is a corporation, limited liability company, trust or other type of entity, please submit the following requisite
    documents: (i) Articles of Incorporation, By-Laws, Certificate of Formation, Operating Agreement, Trust or other similar documents
    for the type of entity; and (ii) Corporate Resolution or power of attorney or other similar document granting authority to
    signatory(ies) and designating that they are permitted to make the proposed investment.
	 	 
	3.	Please
    advise where the funds were derived from to make the proposed investment:

 

	 	Investments	Savings	Proceeds
    of Sale	Other
    ____________

 

(Circle
one or more)

  

Signature:
_______________________________________ 

Print
Name: ______________________________________ 

Title
(if applicable): ________________________________ 

Date:
___________________________________________Executed
Purchase Note                       

 

THIS
SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH
APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF
WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

BOXLIGHT
CORPORATION

 

4%
Non-Negotiable Convertible Promissory Note

 

	Issuance
    Date: September 28, 2016	Principal
    Amount: $2,000,000

 

FOR
VALUE RECEIVED, BOXLIGHT CORPORATION, a Nevada corporation (referred to herein as the “Company”)
with a business address at 1045 Progress Circle, Lawrenceville, GA 30043, hereby unconditionally agrees and promises to pay to
EVEREST DISPLAY, INC., a corporation organized under the laws of Taiwan (“Everest”) and its affiliated
entities and/or its successors and assigns (together with Everest, collectively, the “Holder”), at K Laser
Technology, Inc., No. 1, Li Hsin Road VI Science-Based Industrial Park, Hsinchu, Taiwan, or such other place as the Holder may
from time to time designate, in lawful money of the United States of America, the principal sum of UNITED STATES TWO MILLION ($2,000,000)
DOLLARS (the “Principal Indebtedness”), together with interest on the outstanding Principal Indebtedness evidenced
by this Note at the Interest Rate (as defined below).

 

ARTICLE
I

 

PURCHASE
AGREEMENT

 

Reference
is made to an Amendment (the “Amendment”) dated the 27th day of September to a SHARE PURCHASE AGREEMENT
(“Purchase Agreement”), dated May 10, 2016, entered into by and among Everest, GUANG FENG INTERNATIONAL
LTD. a corporation organized under the laws of American Samoa (“Guang Feng”); BOXLIGHT HOLDINGS, INC.,
a corporation organized under the laws of the State of Delaware, United States, the Company, BOXLIGHT, INC., a corporation
organized under the laws of the State of Washington, United States (“Boxlight USA”); and BOXLIGHT LATINOAMERICA,
S.A. DE C.V. (“BLA”) and BOXLIGHT LATINOAMERICA SERVICIOS, S.A. DE C.V. (“BLS”),
both corporations organized under the laws of Mexico.

 

Unless
otherwise expressly defined in this Note, all capitalized terms used herein shall have the same meaning as assigned to them in
the Purchase Agreement and the Amendment. As set forth in the Amendment, the Holder has agreed to convert and exchange $2,000,000
of the Acquired Corporations Payable for this Note.

 

Section
1.1 Principal Indebtedness of the Note . The unpaid Principal Indebtedness advanced under the Purchase Agreement (the “Note”),
together with any accrued and unpaid interest at the Interest Rate thereon shall be due and payable on March 31, 2019 (the “Maturity
Date”).

 

    	 	 	 

    	 	 	 

    

 

Section
1.2 Interest. Subject to the requirements of Section 3.6 below, the Company may repay this Note at any time on or before
90 days from the Issuance Date. If the Company repays the Principal Amount on or before 90 days from the Issuance Date, the interest
rate on that payment will be zero percent. If the Company does not repay the Principal Amount on or before 90 days from the Issuance
Date, a one-time simple interest charge of 4% shall be applied to the entire Principal Amount and shall be due and payable by
the Company on the Maturity Date.

 

Section
1.3 Payment on Non-Business Days. Whenever any payment to be made shall be due on a Saturday, Sunday or a public holiday
under the laws of the State of New York, such payment may be due on the next succeeding business day and such next succeeding
day shall be included in the calculation of the amount of accrued interest payable on such date.

 

Section
1.4 Transfer. This Note may not be transferred, assigned or sold, or pledged, hypothecated or otherwise granted
as security by the Holder.

 

Section
1.5 Replacement. Upon receipt of a duly executed, notarized and unsecured written statement from the Holder with respect
to the loss, theft or destruction of this Note (or any replacement hereof), and without requiring an indemnity bond or other security,
or, in the case of a mutilation of this Note, upon surrender and cancellation of such Note, the Company shall issue a new Note,
of like tenor and amount, in lieu of such lost, stolen, destroyed or mutilated Note.

 

ARTICLE
II

 

EVENTS
OF DEFAULT; REMEDIES

 

Section
2.1 Events of Default. The occurrence of any of the following events shall be an “Event of Default”
under this Note:

 

(a)
the Company shall fail to make the payment of any Principal Amount and accrued interest then outstanding on the Maturity Date;

 

(b)
the Company shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee
or liquidator of itself or of all or a substantial part of its property or assets, (ii) make a general assignment for the benefit
of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code (as now or hereafter in effect) or under
the comparable laws of any jurisdiction (foreign or domestic), (iv) file a petition seeking to take advantage of any bankruptcy,
insolvency, moratorium, reorganization or other similar law affecting the enforcement of creditors’ rights generally, (v)
acquiesce in writing to any petition filed against it in an involuntary case under United States Bankruptcy Code (as now or hereafter
in effect) or under the comparable laws of any jurisdiction (foreign or domestic), (vi) issue a notice of bankruptcy or winding
down of its operations or issue a press release regarding same, or (vii) take any action under the laws of any jurisdiction (foreign
or domestic) analogous to any of the foregoing;

 

(c)
a proceeding or case shall be commenced in respect of the Company, without its application or consent, in any court of competent
jurisdiction, seeking (i) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or readjustment
of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of it or of all or any substantial
part of its assets in connection with the liquidation or dissolution of the Company or (iii) similar relief in respect of it under
any law providing for the relief of debtors, and such proceeding or case described in clause (i), (ii) or (iii) shall continue
undismissed, or unstayed and in effect, for a period of 60 days or any order for relief shall be entered in an involuntary case
under United States Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of any jurisdiction (foreign
or domestic) against the Company or action under the laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing
shall be taken with respect to the Company and shall continue undismissed, or unstayed and in effect for a period of 60 days;
or

 

    	 	 	 

    	 	 	 

    

 

Section
2.2 Remedies Upon An Event of Default. If an Event of Default shall have occurred and shall be continuing, the Holder of
this Note may at any time at its option, (a) declare the entire unpaid Principal Amount of this Note, together with all interest
accrued hereon, due and payable in cash, and thereupon, the same shall be accelerated and so due and payable, without presentment,
demand, protest, or notice, all of which are hereby expressly unconditionally and irrevocably waived by the Company, (b) demand
that the Principal Amount of this Note then outstanding shall be converted into shares of common stock, $0.0001 par value per
share, of the Company (the “Common Stock”) at a Conversion Price (as defined in Section 3.2 below) per share
calculated pursuant to Section 3.1(b) below, assuming that the date that the Event of Default occurs is the Conversion Date, and
demand that all accrued and unpaid interest under this Note shall be converted into shares of Common Stock in accordance with
Section 3.2 hereof, or (c) exercise or otherwise enforce any one or more of the Holder’s rights, powers, privileges, remedies
and interests under this Note, or applicable law. No course of delay on the part of the Holder shall operate as a waiver thereof
or otherwise prejudice the right of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to
herein or now or hereafter available at law, in equity, by statute or otherwise.

 

Section
2.3 Default Interest. Furthermore, upon the occurrence of an Event of Default, then to the extent permitted by law and
in addition to the remedies set forth in Section 2.2 above, the Company will pay interest to the Holder, payable on demand, on
all amounts due under the Note from the date of the Event of Default until such Event of Default is cured, at the rate of the
lesser of 8% and the maximum applicable legal rate per annum.

 

ARTICLE
III

 

CONVERSION;
ANTIDILUTION; PREPAYMENT

 

Section
3.1 Conversion.

 

(a)
Manner of Conversion. At any time on or after a Liquidity Event (as defined in the Purchase Agreement), this Note shall
be convertible (in whole or in part), at the option of the Holder (the “Conversion Option”), into fully paid
and non-assessable shares of the Company’s Common Stock on the date on which the Holder faxes a notice of conversion (the
“Conversion Notice”), duly executed, to the Company (the “Conversion Date”), provided, however,
that the Conversion Price shall be subject to adjustment as described in Section 3.5 below. The Holder shall deliver this Note
to the Company at the address designated in the Purchase Agreement at such time that this Note is fully converted. With respect
to partial conversions of this Note, the Company shall keep written records of the amount of this Note converted as of each Conversion
Date.

 

(b)
Calculation of Number of Shares to be Issued. On any Conversion Date, the Holder may cause any outstanding Principal Amount
of this Note plus all accrued and unpaid interest to convert into a number of fully paid and non-assessable shares of Common Stock
equal to the quotient of the elected outstanding Principal Amount of this Note plus all interest accrued thereon as of the Conversion
Date divided by the Conversion Price as computed in accordance with Section 3.2 below.

 

    	 	 	 

    	 	 	 

    

 

Section
3.2 Conversion Price and Conversion Shares.

 

		(a)	The
                                         term “Conversion Price” shall a price per share which shall be equal
                                         to:

 

(i)
If the Liquidity Event shall be an IPO, eighty (80%) percent of the initial offering price per share of Company Common Stock in
the IPO, or

 

(ii)
if the Liquidity Event shall be a Reverse Takeover, a per share price equal to eighty (80%) percent of the volume average ask
price of Company Common Stock for the twenty (20) consecutive Trading Days immediately prior to the date notice of conversion
shall be given by the Holder,

 

provided,
that (A) such Conversion Shares shall be “restricted securities” within the meaning of Regulation D promulgated
under the Securities Act), and (B) the number of Conversion Shares that may be issued or issuable at any one time shall be subject
to certain beneficial ownership limitations, as set forth in Section 7 of this Note. The Company shall pay any and all transfer,
stamp, issuance and similar taxes that may be payable with respect to the issuance and delivery of any Conversion Shares.

 

(b)
Subject at all times to the provisions of Section 3.7(a) below, the number of shares issuable upon conversion of this Note (the
“Conversion Shares”) shall be determined by the quotient obtained by dividing (i) the outstanding Principal
Indebtedness of this Note, plus accrued and unpaid Interest thereon on the date of a Liquidity Event by the applicable Conversion
Price. The calculation by the Company of the number of Conversion Shares to be received by the Holder upon conversion hereof,
shall be conclusive absent manifest error.

 

Section
3.3 Mechanics of Conversion. Not later than 3 Trading Days after any Conversion Date, the Company or its designated transfer
agent, as applicable, shall issue representing such shares.

 

Section
3.4 Right of Company to Pay in Cash. Subject to Section 3.6 below, within 72 hours from delivery by the Holder of the Holder’s
first Conversion Notice to the Company, the Company may pre-pay in cash the entire Principal Amount, all accrued interest thereon
and any other amounts due and owing under the Note. If the Company fails to pay the Principal Amount, all accrued interest thereon
and any other amounts due and owing under the Note in cash within 72 hours from receipt of the Holder’s first Conversion
Notice, upon receipt of any subsequent Conversion Notice from the Holder, the Company must issue the Common Stock in accordance
with the requirements of this Section 3 and will not be entitled to pay all or any portion of the Note in cash prior to issuing
the Common Stock, unless the Holder, in its sole and absolute discretion, agrees to accept such payment.

 

Section
3.5 Adjustment of Conversion Price.

 

(a)
The Conversion Price shall be subject to adjustment from time to time as follows:

 

(i)
Adjustments for Stock Splits and Combinations. If the Company shall at any time or from time to time after the Issuance
Date, effect a stock split of the outstanding Common Stock, the applicable Conversion Price in effect immediately prior to the
stock split shall be proportionately decreased. If the Company shall at any time or from time to time after the Issuance Date,
combine the outstanding shares of Common Stock, the applicable Conversion Price in effect immediately prior to the combination
shall be proportionately increased. Any adjustments under this Section 3.5(a)(i) shall be effective at the close of business on
the date the stock split or combination occurs.

 

(ii)
Adjustments for Certain Dividends and Distributions. If the Company shall at any time or from time to time after the Issuance
Date, make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other
distribution payable in shares of Common Stock, then, and in each event, the applicable Conversion Price in effect immediately
prior to such event shall be decreased as of the time of such issuance or, in the event such record date shall have been fixed,
as of the close of business on such record date, by multiplying, the applicable Conversion Price then in effect by a fraction:

 

    	 	 	 

    	 	 	 

    

 

(1)
the numerator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time
of such issuance or the close of business on such record date; and

 

(2)
the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time
of such issuance or the close of business on such record date plus the number of shares of Common Stock issuable in payment of
such dividend or distribution.

 

(iii)
Adjustment for Other Dividends and Distributions. If the Company shall at any time or from time to time after the Issuance
Date, make or issue or set a record date for the determination of holders of Common Stock entitled to receive a dividend or other
distribution payable in other than shares of Common Stock, then, and in each event, an appropriate revision to the applicable
Conversion Price shall be made and provision shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder
of this Note shall receive upon conversions thereof, in addition to the number of shares of Common Stock receivable thereon, the
number of securities of the Company which the Holder would have received had this Note been converted into Common Stock on the
date of such event and had thereafter, during the period from the date of such event to and including the Conversion Date, retained
such securities (together with any distributions payable thereon during such period), giving application to all adjustments called
for during such period under this Section 3.5(a)(iii) with respect to the rights of the Holder of this Note; provided,
however, that if such record date shall have been fixed and such dividend is not fully paid or if such distribution is
not fully made on the date fixed therefor, the Conversion Price shall be adjusted pursuant to this paragraph as of the time of
actual payment of such dividends or distributions.

 

(iv)
Adjustments for Reclassification, Exchange or Substitution. If the Common Stock issuable upon conversion of this Note at
any time or from time to time after the Issuance Date shall be changed to the same or different number of shares of any class
or classes of stock, whether by reclassification, exchange, substitution or otherwise (other than by way of a stock split or combination
of shares or stock dividends provided for in Sections 3.5(a)(i), (ii) and (iii), or a reorganization, merger, consolidation, or
sale of assets provided for in Section 3.5(a)(v)), then, and in each event, an appropriate revision to the Conversion Price shall
be made and provisions shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder shall have the right
thereafter to convert this Note into the kind and amount of shares of stock and other securities receivable upon such reclassification,
exchange, substitution or other change, all subject to further adjustment as provided herein.

 

(v)
Adjustments for Reorganization, Merger, Consolidation or Sales of Assets. If at any time or from time to time after the
Issuance Date there shall be a capital reorganization of the Company (other than by way of a stock split or combination of shares
or stock dividends or distributions provided for in Section 3.5(a)(i), (ii) and (iii), or a reclassification, exchange or substitution
of shares provided for in Section 3.5(a)(iv)), or a merger or consolidation of the Company with or into another corporation where
the holders of outstanding voting securities prior to such merger or consolidation do not own over 50% of the outstanding voting
securities of the merged or consolidated entity, immediately after such merger or consolidation, or the sale of all or substantially
all of the Company’s properties or assets to any other person (an “Organic Change”), then as a part of
such Organic Change an appropriate revision to the Conversion Price shall be made and provision shall be made (by adjustments
of the Conversion Price or otherwise) so that the Holder shall have the right thereafter to convert such Note into the kind and
amount of shares of stock and other securities or property of the Company or any successor corporation resulting from such Organic
Change. In any such case, appropriate adjustment shall be made in the application of the provisions of this Section 3.5(a)(v)
with respect to the rights of the Holder after the Organic Change to the end that the provisions of this Section 3.5(a)(v) (including
any adjustment in the applicable Conversion Price then in effect and the number of shares of stock or other securities deliverable
upon conversion of this Note) shall be applied after that event in as nearly an equivalent manner as may be practicable.

 

    	 	 	 

    	 	 	 

    

 

(vii)
Consideration for Stock. In case any shares of Common Stock or any Common Stock Equivalents shall be issued or sold:

 

(1)
in connection with any merger or consolidation in which the Company is the surviving corporation (other than any consolidation
or merger in which the previously outstanding shares of Common Stock of the Company shall be changed to or exchanged for the stock
or other securities of another corporation), the amount of consideration therefor shall be deemed to be the fair value, as determined
reasonably and in good faith by the Board of Directors of the Company, of such portion of the assets and business of the non-surviving
corporation as such Board may determine to be attributable to such shares of Common Stock, Convertible Securities, rights or warrants
or options, as the case may be; or

 

(2)
in the event of any consolidation or merger of the Company in which the Company is not the surviving corporation or in which the
previously outstanding shares of Common Stock of the Company shall be changed into or exchanged for the stock or other securities
of another corporation, or in the event of any sale of all or substantially all of the assets of the Company for stock or other
securities of any corporation, the Company shall be deemed to have issued a number of shares of its Common Stock for stock or
securities or other property of the other corporation computed on the basis of the actual exchange ratio on which the transaction
was predicated, and for a consideration equal to the fair market value on the date of such transaction of all such stock or securities
or other property of the other corporation.

 

If
any such calculation results in adjustment of (i) the applicable Conversion Price or (ii) the number of shares of Common Stock
issuable upon conversion of the Note, the determination of the applicable Conversion Price or the number of shares of Common Stock
issuable upon conversion of the Note immediately prior to such merger, consolidation or sale, shall be made after giving effect
to such adjustment of the number of shares of Common Stock issuable upon conversion of the Note. In the event Common Stock is
issued with other shares or securities and/or other assets of the Company for consideration, the consideration computed as provided
in this Section 3.5(vii) shall be allocated among such securities and assets as determined in good faith by the Board of Directors
of the Company.

 

(b)
Record Date. In case the Company shall take record of the holders of its Common Stock for the purpose of entitling them
to subscribe for or purchase Common Stock or Convertible Securities, then the date of the issue or sale of the shares of Common
Stock shall be deemed to be such record date.

 

(c)
Certain Issues Excepted. Anything herein to the contrary notwithstanding, the Company shall not be required to make any
adjustment to the Conversion Price in connection with (i) securities issued (other than for cash) in connection with a merger,
acquisition, or consolidation, (ii) securities issued pursuant to a bona fide firm underwritten public offering of the Company’s
securities, (iii) securities issued pursuant to the conversion or exercise of convertible or exercisable securities issued or
outstanding on or prior to the date hereof or issued pursuant to the Purchase Agreement, (iv) the shares of Common Stock issuable
upon the exercise of the Warrants, (v) securities issued in connection with strategic license agreements or other partnering arrangements
so long as such issuances are not for the purpose of raising capital, (vi) Common Stock issued or options to purchase Common Stock
granted or issued pursuant to the Company’s stock option plans and employee stock purchase plans as they now exist and (vii)
the payment of any accrued interest in shares of Common Stock pursuant to this Note.

 

    	 	 	 

    	 	 	 

    

 

(d) No Impairment.
The Company shall not, by amendment of its Articles 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 to be observed or performed hereunder by the Company, but will at all times in good faith, assist in the carrying
out of all the provisions of this Section 3.5 and in the taking of all such action as may be necessary or appropriate in order
to protect the Conversion Rights of the Holder against impairment. In the event the Holder shall elect to convert the Note as
provided herein, the Company cannot refuse conversion based on any claim that the Holder or anyone associated or affiliated
with the Holder has been engaged in any violation of law, violation of an agreement to which the Holder is a party or for any
reason whatsoever, unless an injunction from a court, or notice, restraining and or adjoining conversion of all or of part of
the Note shall have issued and the Company posts a surety bond for the benefit of the Holder in an amount equal to 130% of the
amount of the Note the Holder has elected to convert, which bond shall remain in effect until the completion of arbitration/litigation
of the dispute and the proceeds of which shall be payable to such Holder in the event it obtains judgment.

 

(e)
Certificates as to Adjustments. Upon occurrence of each adjustment or readjustment of the Conversion Price or number of
shares of Common Stock issuable upon conversion of this Note pursuant to this Section 3.5, the Company at its expense shall promptly
compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder a certificate setting forth
such adjustment and readjustment, showing in detail the facts upon which such adjustment or readjustment is based. The Company
shall, upon written request of the Holder, at any time, furnish or cause to be furnished to the Holder a like certificate setting
forth such adjustments and readjustments, the applicable Conversion Price in effect at the time, and the number of shares of Common
Stock and the amount, if any, of other securities or property which at the time would be received upon the conversion of this
Note. Notwithstanding the foregoing, the Company shall not be obligated to deliver a certificate unless such certificate would
reflect an increase or decrease of at least 1% of such adjusted amount.

 

(f)
Issue Taxes. The Company shall pay any and all issue and other taxes, excluding federal, state or local income taxes, that
may be payable in respect of any issue or delivery of shares of Common Stock on conversion of this Note pursuant thereto; provided,
however, that the Company shall not be obligated to pay any transfer taxes resulting from any transfer requested by the
Holder in connection with any such conversion.

 

(g)
Fractional Shares. No fractional shares of Common Stock shall be issued upon conversion of this Note. In lieu of any fractional
shares to which the Holder would otherwise be entitled, the Company shall pay cash equal to the product of such fraction multiplied
by the average of the closing bid prices of the Common Stock for the 5 consecutive Trading Days immediately preceding the Conversion
Date.

 

ARTICLE
IV

 

MISCELLANEOUS

 

Section
4.1 Notices. Any notice, demand, request, waiver or other communication required or permitted to be given hereunder shall
be in writing and shall be effective (a) upon hand delivery by telex (with correct answer back received), telecopy or facsimile
at the address or number designated in the Purchase Agreement (if delivered on a business day during normal business hours where
such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during
normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by
express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first
occur. The Company will give written notice to the Holder at least 10 days prior to the date on which the Company takes a record
(x) with respect to any dividend or distribution upon the Common Stock, (y) with respect to any pro rata subscription offer to
holders of Common Stock or (z) for determining rights to vote with respect to any Organic Change, dissolution, liquidation or
winding-up and in no event shall such notice be provided to the Holder prior to such information being made known to the public.
The Company will also give written notice to the Holder at least 10 days prior to the date on which any Organic Change, dissolution,
liquidation or winding-up will take place and in no event shall such notice be provided to the Holder prior to such information
being made known to the public.

 

    	 	 	 

    	 	 	 

    

 

Section
4.2 Governing Law. This Note shall be governed by and construed in accordance with the internal laws of the State of California,
without giving effect to any of the conflicts of law principles which would result in the application of the substantive law of
another jurisdiction. This Note shall not be interpreted or construed with any presumption against the party causing this Note
to be drafted.

 

Section
4.3 Headings. Article and section headings in this Note are included herein for purposes of convenience of reference only
and shall not constitute a part of this Note for any other purpose.

 

Section
4.4 Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided in this
Note shall be cumulative and in addition to all other remedies available under this Note, at law or in equity (including, without
limitation, a decree of specific performance and/or other injunctive relief), no remedy contained herein shall be deemed a waiver
of compliance with the provisions giving rise to such remedy and nothing herein shall limit the Holder’s right to pursue
actual damages for any failure by the Company to comply with the terms of this Note. Amounts set forth or provided for herein
with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder
and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof).
The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable and material harm to the Holder
and that the remedy at law for any such breach may be inadequate. Therefore the Company agrees that, in the event of any such
breach or threatened breach, the Holder shall be entitled, in addition to all other available rights and remedies, at law or in
equity, to seek and obtain such equitable relief, including but not limited to an injunction restraining any such breach or threatened
breach, without the necessity of showing economic loss and without any bond or other security being required.

 

Section
4.5 Enforcement Expenses. The Company agrees to pay all costs and expenses of enforcement of this Note, including, without
limitation, reasonable attorneys’ fees and expenses.

 

Section
4.6 Binding Effect. The obligations of the Company and the Holder set forth herein shall be binding upon the successors
and assigns of each such party, whether or not such successors or assigns are permitted by the terms hereof.

 

Section
4.7 Amendments. This Note may not be modified or amended in any manner except in writing executed by the Company and the
Holder.

 

Section
4.8 Compliance with Securities Laws. The Holder of this Note acknowledges that this Note is being acquired solely for the
Holder’s own account and not as a nominee for any other party, and for investment, and that the Holder shall not offer,
sell or otherwise dispose of this Note. This Note and any Note issued in substitution or replacement therefor shall be stamped
or imprinted with a legend in substantially the following form:

 

    	 	 	 

    	 	 	 

    

 

“THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR APPLICABLE STATE SECURITIES
LAWS, AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR RECEIPT BY THE COMPANY OF AN OPINION OF COUNSEL
IN THE FORM, SUBSTANCE AND SCOPE REASONABLY SATISFACTORY TO THE COMPANY THAT THIS NOTE MAY BE SOLD, TRANSFERRED, HYPOTHECATED
OR OTHERWISE DISPOSED OF, UNDER AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND SUCH STATE SECURITIES LAWS.”

 

Section
4.9 Consent to Jurisdiction. Each of the Company and the Holder (i) hereby irrevocably submits to the exclusive jurisdiction
of the State of California for the purposes of any suit, action or proceeding arising out of or relating to this Note and (ii)
hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim that it is not personally subject to
the jurisdiction of such court, that the suit, action or proceeding is brought in an inconvenient forum or that the venue of the
suit, action or proceeding is improper. Each of the Company and the Holder consents to process being served in any such suit,
action or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under the Purchase Agreement
and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing in this Section
4.9 shall affect or limit any right to serve process in any other manner permitted by law. Each of the Company and the Holder
hereby agree that the prevailing party in any suit, action or proceeding arising out of or relating to this Note shall be entitled
to reimbursement for reasonable legal fees from the non-prevailing party.

 

Section
4.10 Parties in Interest. This Note shall be binding upon, inure to the benefit of and be enforceable by the Company, the
Holder and their respective successors and permitted assigns.

 

Section
4.11 Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right
or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or
privilege preclude other or further exercise thereof or of any other right, power or privilege.

 

Section
4.12 Company Waivers. Except as otherwise specifically provided herein, the Company and all others that may become liable
for all or any part of the obligations evidenced by this Note, hereby waive presentment, demand, notice of nonpayment, protest
and all other demands’ and notices in connection with the delivery, acceptance, performance and enforcement of this Note,
and do hereby consent to any number of renewals of extensions of the time or payment hereof and agree that any such renewals or
extensions may be made without notice to any such persons and without affecting their liability herein and do further consent
to the release of any person liable hereon, all without affecting the liability of the other persons, firms or Company liable
for the payment of this Note, AND DO HEREBY WAIVE TRIAL BY JURY.

 

(a)
No delay or omission on the part of the Holder in exercising its rights under this Note, or course of conduct relating hereto,
shall operate as a waiver of such rights or any other right of the Holder, nor shall any waiver by the Holder of any such right
or rights on any one occasion be deemed a waiver of the same right or rights on any future occasion.

 

    	 	 	 

    	 	 	 

    

 

(b)
THE COMPANY ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS NOTE IS A PART IS A COMMERCIAL TRANSACTION, AND TO THE EXTENT ALLOWED
BY APPLICABLE LAW, HEREBY WAIVES ITS RIGHT TO NOTICE AND HEARING WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE HOLDER OR ITS
SUCCESSORS OR ASSIGNS MAY DESIRE TO USE.

 

Section
4.13 The Holder acknowledges that Company’s willingness to issue this Note is based on the facts represented to the Company
by the Holder as set forth in the Purchase Agreement.

 

HOLDER
AND THE COMPANY IRREVOCABLY WAIVE ALL RIGHT TO A TRIAL BY JURY IN ANY PROCEEDING HEREAFTER INSTITUTED BY OR AGAINST HOLDER OR
THE COMPANY IN RESPECT OF THIS NOTE OR ARISING OUT OF ANY DOCUMENT, INSTRUMENT OR AGREEMENT EVIDENCING, GOVERNING OR SECURING
THIS NOTE. THE COMPANY ACKNOWLEDGES THAT THE INDEBTEDNESS EVIDENCED BY THIS NOTE IS PART OF A COMMERCIAL TRANSACTION.

 

Balance
of page left blank – signature page follows

 

    	 	 	 

    	 	 	 

    

 

Executed
Purchase Note                       

 

IN
WITNESS WHEREOF, this Note has been executed by the Company as of the day and year first set forth above.

 

	 	BOXLIGHT
    CORPORATION
	 	 	 
	 	By:	
	 	Name:	Sheri
    Lofgren
	 	Title:	Chief
    Financial Officer

 

The
above Note is hereby approved:

 

	EVEREST
    DISPLAY, INC.	 
	 	 	 
	By:		 
	Name:
    	Alex
    Kuo	 
	Title:
    	Chief
    Executive Officer

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