Document:

Exhibit

Exhibit 10.1

ENHANCED EARLY RETIREMENT AGREEMENT AND RELEASE

October 27, 2016

Jon A. Cox 
7022 Willow Trace Lane
Matthews, NC 28104

Re:    Enhanced Early Retirement Agreement and Release (“Agreement”)

Dear Jon:

This letter sets forth all of the terms relating to the termination of your employment and the agreement by EnPro Industries, Inc. (the “Company”), to provide you with early retirement benefits, including amounts to which you are not otherwise entitled.  The terms and conditions associated with those benefits are set forth below.  

You are eligible to receive an enhanced early retirement benefit package from the Company as described below as well as other consideration specified in this Agreement, all of which is conditioned upon your execution of this Agreement.  Please read this Agreement carefully and, if you concur with all of its terms, sign it and date your signature on the designated lines.  You are advised to seek the assistance of legal counsel because this document affects your legal rights.  If you agree to the terms of this Agreement, you must return the signed original of this Agreement to Leilani Campbell, Director, Global Benefits and Human Resources, within twenty-one (21) days from the above date as described in Paragraph 12 below.  Please keep a copy of this Agreement for your own files.

The terms of the Agreement are:

1.Termination Date.  Your employment with the Company will end effective October 4, 2016 (the “Termination Date”).  You hereby resign, as of the date hereof, from each and every office and position with the Company and/or the Company’s affiliates, including without limitation as a director, manager or member of any committee.  You also agree to execute documents in a form satisfactory to the Company to effectuate any such resignations.  

2.Severance Benefits.  

a.Base Salary Continuation.  From and after the Termination Date, the Company will pay to you early retirement benefits equal to fifty-two (52) weeks of your current base salary.  The Company will pay this early retirement benefit ratably over the Company’s normal payroll periods for the period beginning on the first regular payroll period following the expiration of the seven-day revocation period set forth in Section 12 below and ending on the date fifty-two (52) weeks thereafter (the “Severance Period”). 
b.Pro-Rata APP.  You are also eligible to receive a pro-rata portion of your benefits under the Company’s Annual Performance Plan (“APP”) for fiscal year 2016.  This amount will be pro-rated using 9/12 as the fraction representing the number of completed months of your service during the performance period.  This amount, if any, will be paid as soon as practicable following the certification of 

performance for the relevant performance period by the Compensation and Human Resources Committee of the Company’s Board of Directors (the “Committee”) but no later than March 15, 2017.  You will not be entitled to any other APP payment except as set forth in this paragraph. 
c. Pro-Rata LTIP.  You are eligible to receive certain cash amounts in lieu of amounts that would have otherwise been payable to you under the Company’s Long-term Incentive Plan (“LTIP”) for the 2014 - 2016, 2015 - 2017 and 2016 - 2018 performance cycles had you remained an employee as set forth below.  In respect of (i) the 2014 - 2016 LTIP performance cycle, the cash amount will be prorated using 33/36 as the fraction representing the number of completed months in the performance period; (ii) the 2015 - 2017 LTIP performance cycle, the cash amount will be prorated using 21/36 as the fraction representing the number of completed months in the performance period; and (iii) the 2016 - 2018 LTIP performance cycle, the cash amount will be prorated using 9/36 as the fraction representing the number of completed months in the performance period.  The cash amounts payable in lieu of payments for these LTIP performance awards, if any, will be made as soon as practicable following the certification of performance for the relevant performance period(s) by the Committee but no later than March 15 of the year following the completion of the relevant performance period.  For purposes of these calculations, the Company’s performance with respect to any performance cycle may not exceed the target level of 100% and could be zero if threshold performance is not obtained.  Any awards otherwise payable in stock will be paid in cash based on the average closing price of EnPro Industries Common Stock for the month immediately preceding the date of the certification by the Committee.  You will not be entitled to any other LTIP payments, except as set forth in this paragraph.  
d.Restricted Stock/Restricted Stock Units.  You acknowledge that as of the Termination Date, you shall have no rights under any outstanding awards of restricted stock units or restricted shares made by the Company to you and that all such awards are forfeited as of the Termination Date.  Notwithstanding the preceding, and in consideration for your execution of the revised Business Protection Agreement discussed below, the Company shall pay you as enhanced severance an amount equal to 5187 multiplied by the closing price per share of the Company’s stock on the New York Stock Exchange on October 4, 2016. Such payment shall be made on the first regular payroll period following the expiration of the seven-day revocation period set forth in Section 12 below.
e.Payment in Lieu of Certain Benefits.  In lieu of providing you with reimbursement of COBRA premiums and standard outplacement benefits, and to reimburse you for expenses associated with the legal review of this Agreement, the Company will pay you a lump sum of $22,825 on the first regular payroll period following the expiration of the seven-day revocation period set forth in Section 12 below. 
f.Vacation Pay.  Upon the first regularly scheduled payday following the execution hereof, the Company shall pay to you all accrued and unused vacation pay if otherwise owed pursuant to the Company’s policies.

3.Payment.  All payments pursuant to this Agreement shall be subject to normal withholdings as required or authorized by state, federal and local law.  When amounts must be paid under this Agreement in two or more installments, each installment shall be treated as a separate payment for purposes of I.R.C. § 409A.  These payments will be direct-deposited to your bank account in accordance with your previous instructions regarding direct deposit of your paychecks.  

4.Benefit Continuation.  
a.COBRA.  The termination of your employment with the Company is a “qualifying event” under COBRA with respect to your coverage under the Company’s health benefit plan; thus, you will be provided an opportunity to continue to have health benefit coverage through the Company’s health plan after the Termination Date, as required by COBRA (and on the terms and conditions required by COBRA).  

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You will receive a separate notice of these COBRA rights in order to allow you the chance to decide whether to elect (and pay for) COBRA continuation coverage.  
b.Your eligibility for other employee benefits provided by the Company shall cease as of the Termination Date, and following the Termination Date you will not have the right to participate in or receive any benefit under any employee benefit plan of the Company, any fringe benefit plan of the Company, or any other plan, policy or arrangement of the Company providing benefits or perquisites to employees of the Company generally or individually.  Provided, however, that your vested benefits under any pension plan sponsored by the Company (including the EnPro Industries, Inc. Retirement Savings Plan for Salaried Employees, the EnPro Industries, Inc. Deferred Compensation Plan, and the EnPro Industries, Inc. Management Stock Purchase Deferral Plan) shall remain vested and shall be distributed to you in accordance with the terms of such plan.  You will also have the right (i) to receive payment pursuant to the terms of the Company’s welfare benefit plans for claims under such plans arising prior to the Termination Date; (ii) to exercise any conversion rights provided to you under the terms of the Company’s benefit plans; and (iii) to receive reimbursement from the Company of expenses you incurred prior to the Termination Date, provided that such expenses are submitted to the Company no later than ten (10) days after the Termination Date and are otherwise reimbursable under the terms of the Company’s policies with respect to the same. 

5.Complete Payment.  Except as set forth in the preceding sections, the Company shall have no obligation to make any further payments to or for your benefit.  You acknowledge and agree that the payments made under this Agreement are in full satisfaction and settlement of any and all rights under the EnPro Industries, Inc. Amended and Restated 2002 Equity Compensation Plan, each LTIP, the APP, the MSPP and under all severance plans sponsored or provided by the Company. 

6.Confidentiality/Nondisparagement/Nonsolicit/Noncompete.  
a.Terms of Agreement.  You acknowledge that the contents of this Agreement are confidential, and you agree that you will not disclose or discuss the terms of this Agreement with any person other than your spouse, financial advisor or legal counsel; provided that such persons have agreed to keep the terms confidential.  
b.Nondisparagement.  You agree not to make any statement (including to any media source, or to the Company’s suppliers, customers or employees) or take any action that would disrupt, impair, embarrass, harm or affect adversely the Company, its affiliates or any of their employees, officers, directors, or customers, or place the Company, its affiliates or such individuals in any negative light.  The Company agrees that its officers, directors and management-level employees will not make any statement  (including to any media source, or to the Company’s suppliers, customers or employees) or take any action that would disrupt, impair, embarrass, harm or affect you adversely or place you in any negative light.  
c.Confidential Information Protection.  You agree that you will not, directly or indirectly, use or disclose to anyone any nonpublic information from which the Company derives any commercial advantage, including without limitation any trade secrets, nonpublic financial information or customer information (the “Confidential Information”).  You acknowledge that the Confidential Information is owned or licensed by the Company or its affiliates; is unique, valuable, proprietary and confidential; and derives independent actual or potential commercial value from not being generally known or available to the public.  You hereby relinquish, and agree that you will not at any time claim, any right, title or interest of any kind in or to any Confidential Information.  You agree that you will maintain the confidentiality of the Confidential Information at all times after the Termination Date and will not, at any time, directly or indirectly, use any Confidential Information for your own benefit or for the benefit of any other person, reveal or disclose any Confidential Information to any person or remove or aid in the removal from the 

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Company’s or its affiliates’ premises of any Confidential Information.  The covenants in this Section will not apply to information that (i) is or becomes available to the general public through no breach of this Agreement by you or breach by any other person of a duty of confidentiality to the Company or its affiliates; (ii) you are required to disclose by applicable law, rule, regulation or court order; provided, however, that you will notify the Company in writing of such required disclosure as much in advance as practicable in the circumstances and cooperate with the Company to limit the scope of such disclosure; or (iii) information that was within your possession prior to its being furnished to you by the Company or the Company’s affiliates.
d.Effect of Breach.  You agree that if you make any disparaging remarks, disclose Confidential Information, or engage in conduct that otherwise violates the terms of this Agreement or the Business Protection Agreement (“BPA”) between you and the Company (as revised according to the provisions set forth herein), the Company shall be entitled to cease its performance under this Agreement and/or to institute action against you for appropriate legal and equitable relief.  You further agree that if the Company ceases performance under this Agreement pursuant to the preceding sentence, then the release set forth in Section 7 shall remain in full force and effect.  
e.Revised BPA.  As a condition to receiving the benefits provided by this Agreement, you agree to execute a revised BPA, in the form attached hereto as Exhibit 1.

7.Release, Acknowledgement and Covenant Not to Sue.  
a.Release.  Except for any claims that you may have for workers’ compensation benefits, for statutory unemployment compensation benefits, or vested medical, pension, disability or other benefits or claims that may not be released by law (which are not released by this Agreement) or for benefits expressly provided to you by this Agreement, you agree to and do release and forever discharge the Company, any related or successor corporation or entity (including but not limited to any parent, subsidiary and/or affiliate, and including but not limited to EnPro Industries, Inc.), their benefit plans and programs, and all of their past and present officers, directors, employees, administrators and trustees, (collectively the “Parties Released by this Agreement”) from any and all losses, expenses, liabilities, claims, rights and entitlements of every kind and description (collectively referred to as “Claims”), whether known or unknown, that you have now or may later claim to have had against any of the Parties Released by this Agreement arising out of anything that has occurred up through the date that you sign this Agreement, including without limitation any Claims arising out of your employment or termination of employment with the Company.  This release includes, but is not limited to, any Claims for wages, benefits, bonuses, incentive compensation, reinstatement, personal injuries, breach of contract (express or implied), breach of any covenant of good faith and fair dealing (express or implied), attorneys’ fees, or for recovery of any losses or other damages to you or your property based on any alleged violation of Title VII of the Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq. (prohibiting discrimination on account of race, sex, color, national origin or religion); the Age Discrimination in Employment Act of 1967, 29 U.S.C. § 621 et seq. (prohibiting discrimination on account of age); the Americans With Disabilities Act of 1990 (“ADA”), 42 U.S.C. § 12101 et seq. (prohibiting discrimination on account of disabilities); the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001 et seq.; the Family and Medical Leave Act, 29 U.S.C. § 2611 et seq.;  the North Carolina Equal Employment Practice Act, N.C. Gen. Stat. § 143-422.2 et seq.; the North Carolina Persons With Disabilities Protection Act, N.C. Gen. Stat. § 168A-1 et seq.; the North Carolina Retaliatory Employment Discrimination Act, N.C. Gen. Stat. §§ 95-240 et seq.; or any other federal, state or local statutory or common law.  You further agree that, except as provided below, this release may be pleaded as a complete bar to any action or suit before any court or administrative body.  (This release does not apply to claims that arise out of facts or events occurring after the date you sign this Agreement).  

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b.Acknowledgement. You acknowledge that you may have sustained or may yet sustain damages, costs, or expenses that are presently unknown and that relate to Claims between you and the Parties Released by this Agreement.  You expressly waive and relinquish all rights and benefits which you may have under any state or federal statute or common law principles that would otherwise limit the effect of this Agreement to Claims known or suspected prior to the date you sign this Agreement, and do so understanding and acknowledging the significance and consequences of such specific waiver.  Thus, for the purpose of implementing a full and complete release and discharge of the Parties Released by this Agreement, you expressly acknowledge that this Agreement is intended to include in its effect, without limitation, all Claims which you do not know or suspect to exist in your favor at the time you sign this Agreement, and that this Agreement contemplates the extinguishment of any such Claim or Claims.  You also agree, confirm and acknowledge that you have been paid for all time worked while employed by the Company.  You further agree, confirm and acknowledge that you have received all leave to which you may have been or thought you may have been entitled under the Family Medical Leave Act (“FMLA”) or the ADA.
c.Covenant Not to Sue.  You agree that you will not hereafter file or pursue any claims, complaints, charges or lawsuits against any of the Parties Released by this Agreement concerning any Claim or Claims listed in this Section 7.  Provided, however, that nothing herein shall preclude you from filing a timely charge or complaint with or from participating in or cooperating with an investigation or proceeding conducted by the EEOC, NLRB, or any other federal, state or local agency charged with the enforcement of any laws, or from exercising rights under Section 7 of the NLRA to engage in joint activity with others, although by signing this Agreement you are waiving rights to individual relief based on claims asserted in such a charge or complaint, regardless if such claim is brought individually or as part of a class or collective action, except where such waiver of individual relief is prohibited.  Provided further, however, that nothing in this Agreement shall be construed to waive or limit your right to receive an award for information provided to the Securities Exchange Commission.

8.Assistance.  You agree to cooperate with and provide assistance to the Company and its legal counsel in connection with any litigation (including arbitration or administrative hearings) or investigation affecting the Company, in which, in the reasonable judgment of the Company’s counsel, your assistance or cooperation is needed.  You agree, when requested by the Company, to provide testimony or other assistance and shall travel at the Company’s request in order to fulfill this obligation.  Provided, however, that, in connection with such litigation or investigation, the Company shall attempt to accommodate your schedule, will reimburse you (unless prohibited by law) for any actual loss wages in connection therewith, will provide you with reasonable notice in advance of the times in which your cooperation or assistance is needed, and will reimburse you for any reasonable expenses incurred in connection with such matters.  In addition, during the Severance Period, you agree to cooperate fully with the Company on all matters relating to your employment and the conduct of the Company’s business.  This obligation to cooperate, however, shall not be considered to prohibit or restrict other employment by you if otherwise permitted by the BPA.

9.Return of Property.  You agree that you will not retain, and will promptly return to the Company promptly following the Termination Date, any and all Company property or Confidential Information in your possession or subject to your control, including but not limited to, keys, credit and identification cards, Company-provided vehicles or equipment or any other items provided to you by the Company for your use, together with all written or recorded materials, documents, computer discs, plans, records, or other papers or electronic information related to the Company’s business affairs.  You represent that you have not and will not copy, download, store or retain software, documents or other materials or files originating with or belonging to the Company, and that you have not retained copies of any Company property or materials, including on any computer tape, diskette, disc, flash drive or any form of storage media, whether portable or installed.   

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10.Waiver.  Any waiver or consent from the Company with respect to any term or provision of this Agreement or any other aspect of your conduct shall be effective only in the specific instance and for the specific purpose for which given and shall not be deemed, regardless of frequency given, to be a further or continuing waiver or consent.  The failure or delay of the Company at any time or times to require performance of, or to exercise any of its powers, rights or remedies with respect to, any term or provision of this Agreement or any other aspect of your conduct in no manner (except as otherwise expressly provided herein) shall affect the Company’s right at a later time to enforce any such term or provision.

11. Complete Agreement.  You acknowledge and reaffirm your continuing obligations as set forth in the revised BPA, including without limitation all covenants and agreements to protect the Company’s interests in its confidential information, customer relationships and employees, including the non-competition, non-solicit, no-hire and confidentiality agreements contained in that agreement.  With the exception of the BPA (or similar agreement) and any Confidentiality Agreement and Assignment of Inventions that will continue to be governed by their terms, this Agreement will take the place of all previous agreements between you and the Company, and it contains the entire agreement between you and the Company regarding the termination of your employment.  It is not, and shall not be construed as, an admission or indication that the Company has engaged in any wrongful or unlawful conduct of any kind.  Neither you nor the Company will be bound by any statements or representations not contained in this Agreement.

12.Consideration Period.  By signing this Agreement, you acknowledge that you have carefully read it and that it is written in a manner that is easily understood by you and in fact, you fully understand it and are signing it voluntarily.  You acknowledge that the Company has encouraged and advised you to consult with an attorney of your choosing prior to executing the Agreement.  You also acknowledge that you have had the opportunity to obtain all advice and information you deem necessary about matters related to this Agreement.  You acknowledge that you are releasing claims that could be brought under the Age Discrimination in Employment Act and that you are executing this Agreement in exchange for monies and other consideration in addition to those to which you are already entitled to receive.  You further acknowledge that you have been given a period of at least twenty-one (21) days after receiving this Agreement to consider its terms before signing it (but understand that you may sign the Agreement at any time during the twenty-one (21) day period).  To receive the Severance Benefits, this Agreement must be signed and returned to Leilani Campbell, Director, Global Benefits and Human Resources, 5605 Carnegie Blvd, Suite 500, Charlotte, NC  28209-4674, leilani.campbell@enproindustries.com on or before the twenty-first (21st) day.  In addition, you have seven (7) days after signing this Agreement and release to revoke your acceptance by delivering a signed notice of revocation to Leilani Campbell, Director, Global Benefits and Human Resources.  Upon delivery of a timely notice of revocation, this Agreement will be null and void and neither the Company nor you will have any rights or obligations under it.  Accordingly, this Agreement and release shall not become effective or enforceable until the seven-day revocation period has expired.  If your signature is not revoked by you during the seven-day period, it shall be deemed accepted and this Agreement will take effect on the eighth (8th) day.  In the event the parties to this Agreement agree to a modification of any of the terms contained herein prior to your execution of the Agreement, the 21 days you have to consider whether to sign the Agreement referenced in this section will not be increased or restarted.

13.Severability.  If any provision of this Agreement (or any subpart thereof) is unenforceable or is held to be unenforceable, you agree that such provision shall be fully severable, and this Agreement and its terms shall be construed and enforced as if such unenforceable provision had never been a part of this Agreement.  Under such circumstances, the remaining provisions of the Agreement shall remain in full force and effect, and a court construing the unenforceable provision shall add to this Agreement and make a part of it, in lieu of the unenforceable provision, a provision as similar in terms and effect to such unenforceable provision as may be enforceable.

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14.Modification and Governing Law.  This Agreement can only be modified in a writing executed in the same manner as this Agreement.  This Agreement shall be construed in accordance with the substantive laws of the State of North Carolina, without regard to conflict of laws principles.

I HAVE READ THIS AGREEMENT.  I UNDERSTAND ITS TERMS AND CONDITIONS.  I HAVE NOT BEEN COERCED INTO SIGNING THIS AGREEMENT, AND I VOLUNTARILY AGREE TO ABIDE BY ITS TERMS BECAUSE THEY ARE SATISFACTORY TO ME.  NO PROMISE OR INDUCEMENT OF ANY KIND HAS BEEN MADE TO ME BY THE COMPANY OR ANYONE ELSE TO CAUSE ME TO SIGN THIS AGREEMENT, EXCEPT AS SET FORTH ABOVE.  

	
		
	/s/ Jon A. Cox
	 

	Jon A. Cox
	 

	 
	 

	October 27, 2016
	 

	Date
	 

By:    EnPro Industries, Inc.

	
			
	 
	/s/ Robert S. McLean
	 

	Name:
	Robert S. McLean
	 

	Its:
	Chief Administrative Officer, General Counsel and Secretary
	 

	 
	 
	 

	 
	October 27, 2016
	 

	Date
	 
	 

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Exhibit 1

Revised Business Protection Agreement

BUSINESS PROTECTION AGREEMENT
This Agreement is made as of this 4th day of October, 2016 by and between EnPro Industries, Inc. and Jon A. Cox, in consideration for the receipt of severance benefits as provided in the Executive Benefit Agreement and Release.  Capitalized terms are defined in Exhibit A to this Agreement.

Confidential Information 
While employed by the Company or its affiliates, and for all periods thereafter, I agree that I will not use, copy or disclose any Confidential Information, except in the regular course of my duties for the benefit of the Company, or as specifically authorized in writing by the Company.   I agree that, upon termination of my employment, I will immediately return to the Company all documents, materials or media containing any Confidential Information, together with any other property owned by the Company.  I understand that I am not permitted, after my employment ends, to retain any Confidential Information on my computers, tablets, cell phone or in personal files or e-mail accounts.
Former Employer Information  
I agree that I will not, during my employment with the Company, use or disclose any proprietary information or trade secrets of any former employer and that I will not bring onto the premises or place on the information systems of the Company any proprietary information or trade secrets belonging to such employer.  
Intellectual Property 
(a)  Inventions.  Unless otherwise specifically set forth on an exhibit attached to this Agreement, I assign to the Company all of my right, title and interest in all Inventions that have been or will be conceived and/or reduced to practice by me during my employment by the Company.  I promise to disclose all Inventions to the Company upon conception and to execute any requested documents that are reasonably required to confirm the assignment of such rights to the Company or to enable it to prosecute and obtain patents or similar industrial property rights with respect to any such assigned Inventions.  I will keep and maintain appropriate written records of my Inventions.  The records will be in the form of notes, drawings and reports, and I agree that such records will remain the property of the Company.  Notwithstanding the preceding, I understand that I will retain my right, title and interest in any Invention and records related thereto that both (i) does not result from any work I perform as part of my employment duties, and that I develop entirely on my own time without using any equipment, supplies, facility or Confidential Information of the Company, and (ii) does not relate to the Business or to actual or to demonstrably anticipated research or development of the Company or its affiliates.  
(b)  Copyrights.  I acknowledge and agree that all Works that I create in connection with my employment duties are intended to be “works made for hire” under applicable copyright law, and I assign to the Company any right, title and interest that I may have in any such Works, including the copyright therein, and waive any moral rights that I may have in any such Works.  I will execute any requested documents that are reasonably required to confirm the assignment of these rights to the Company and to enable it to register its copyright in such Works.

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Non-Solicitation and Competition
While employed by the Company or its affiliates and for a period of nineteen (19) months after my employment ends for any reason (such period not to include any period(s) of violation or period(s) of time required for litigation to enforce my agreement), I agree that I will not directly or through anyone acting on my behalf or at my direction:
Solicit or attempt to solicit or accept orders relating to the Business from any Customer or any Prospective Customer or otherwise induce such Customer or Prospective Customer to reduce, terminate, restrict or alter its relationships pertaining to the Business with the Company or its affiliates, unless neither I nor persons working for me had any significant contact or communications with the Customer or Prospective Customer and I received no Confidential Information concerning the Customer or Prospective Customer during the Relevant Period.    
Solicit, recruit, hire, or attempt to hire any individual who is then employed with the Company or its affiliates or is a consultant or independent contractor with the Company or its affiliates or induce or attempt to induce such individual to leave the Company’s or its affiliates’ employment.
Become employed by (as an officer, agent, manager, director, employee, consultant or independent contractor), invest in, or provide financing to a Competitor anywhere in the Territory; provided, however, that this restriction will not prohibit me from
	
	
	becoming employed by a Competitor solely in an area, division or segment of a Competitor’s business that does not engage in any part of the Business; or

	investing in a Competitor whose shares are publicly-traded, provided my ownership does not exceed 5% of the total number of outstanding shares. 

Binding Agreement and Assignment
This Agreement shall be binding upon and inure to the benefit of the parties, their legal representatives, successors and assigns, provided, however, that my obligations under this Agreement are personal and shall not be assigned.  Successors of the Company shall include, without limitation, any company or companies acquiring, directly or indirectly, all or substantially all of the Business or the assets of the Company, whether by merger, consolidation, purchase, lease or otherwise.  
Injunctive Relief
I understand and agree that my breach or anticipated breach of this Agreement will cause irreparable and permanent injury to the Company.  I agree that in addition to any other remedy available to the Company, the Company will be entitled to preliminary and permanent injunctive relief prohibiting my violation of this Agreement.
Laws
This Agreement shall be governed by, construed, and interpreted by the substantive laws of the State of North Carolina, without regard to the conflict of law rules.  
Remedies/Severability
In case any one or more of the provisions maintained in the Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not 

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affect any other provisions of this Agreement, but this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein.  If, moreover, any one or more of the provisions contained in the Agreement shall for any reason be held to be excessively broad as to time, duration or geographical scope, activity or subject, it shall be construed by limiting and reducing it to the extent necessary to render it enforceable and compatible with the applicable law as it shall then appear.
Survival
This Agreement and my obligations hereunder will survive the termination of my employment with the Company; provided, however, the confidentiality obligations set forth in Section 1 above shall expire ten (10) years after my employment ends, except that with respect to any confidential information that constitutes a trade secret, the confidentiality obligations shall survive for so long as such information remains a trade secret.  I understand and agree that this Agreement supplements, but does not replace or limit, my obligations under any existing agreements with the Company. 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be effective as of the day and date first above written, and acknowledge that they have read and understand the contents thereof.

	
			
	COMPANY
	 
	EMPLOYEE

	 
	 
	 

	By: /s/ Robert S. McLean  Date: October 27, 2016
	 
	By: /s/ Jon A. Cox       Date: October 27, 2016

	(For the Company Signature)
	 
	(Employee Signature)

	Robert S. McLean
	 
	Jon A. Cox

	(Print or Type Name)
	 
	(Print or Type Name)

	 
	 
	 

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Exhibit A -- Definitions
“Agreement” means this Business Protection Agreement.
“Businesses” means the production, manufacturing, sales and servicing of one or more of the following:
(a)    (i) Sealing components for the compression industry and natural gas market, including without limitation compressor valves, packing and wiper rings, packing cases, pistons and rods, piston rings, emission control, rider rings, valve monitoring and spare parts; and (ii) products used in lubricated compressors, including without limitation pumps, lubrication boxes, divider blocks, check valves, no-flow devices and lubrication accessories, and related spare parts.
(b)    Diesel engines and generator sets and dual-fuel generator sets for marine, naval, commercial, locomotive, and nuclear standby power applications, and related components and spare parts.
(c)    Self-lubricating, non-rolling, metal polymer, solid polymer, and filament wound bearing products and aluminum bushing blocks in any of the following areas or markets: automotive, agriculture, renewable energy, pump and compressor, construction, power generation, aerospace and general industrial, and related spare parts.
(d)    (i) Flange systems, spring-energized jacketed seals and electrical flange isolation kits and gaskets for the oil and gas, water/wastewater, chemical, energy, construction and infrastructure industries; (ii) wall penetration seals, casing spacers and isolators, infiltration sealing solutions, pipe tapes and wraps, corrosion resistant sealing solutions, and high value signage for pipelines and industry, including without limitation modular seals, compact seals and sealing plugs, isolation joints and fittings, pipe protection products, sleeves, hole forming disks and walls collars, sealing tape and manhole sealing and infiltration systems and pipe end cap products, and related spare parts; and (iii) fluid sealing products and hoses for industrial and sanitary applications, including without limitation compression packing products, diaphragms, gaskets, hoses, connectors, hydraulic components, metallic gaskets, rubber expansion joints, conveyor belts, custom molded rubber, engineered sheet rubber, oil seals, bearing isolators and mechanical seals, and related spare parts.
(e)    Wheel end products, suspension products, brake products, aerodynamic and fuel economy improving devices and intelligent transportation systems for the commercial vehicle market, including without limitation, seals, wheel-end fasteners, bearings, hub caps and mileage counters, brake shoes, friction, automatic brake adjusters, new lined wheel kits and brake drums, king pin systems, suspension components, pressure monitoring systems, automatic tire inflation systems, and automated mileage collection systems, aerodynamic devices and related spare parts.
(f)    (i) Sealing solutions, hot gas path turbine components, polymer technologies, rupture discs, pressure vessels, semiconductor equipment chamber subsystems, acoustic media, accumulators or bellows or (ii) providing the services of fluoropolymer etching, surface and coating technologies, product assembly services, metal machining, heat treating, seal testing or plastic machining to the aerospace, semiconductor, oil and gas, nuclear, pharmaceutical, medical, turbine or valve markets and related spare parts.

“Competitor” means any business, person, company partnership or other entity (“Person”) that is engaged in all or part of the Businesses if both (a) the Businesses operated by such Person that compete with Businesses of the Company represent more than 15% of the total consolidated revenue of the Company over the full calendar year preceding the undersigned’s termination of employment with the Company, and (b) the Businesses operated by such Person represent more than 10% of the total consolidated revenue of such Person and its affiliates over the full calendar year preceding the undersigned’s termination of employment with the Company. 

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“Customer” means any business, person, company or entity to which the Company or its affiliates has sold products or provided services relating to the Business.
“Company” means EnPro Industries, Inc. and its affiliates
“Confidential Information” means all nonpublic information created, discovered or known to the Company and from which the Company derives a commercial advantage.  “Confidential Information” includes not only technical, business and financial information, but also information concerning customers, suppliers or other third parties who have a business relationship with the Company.  Confidential Information also includes information about production, products, manufacturing and facilities, as well as business initiatives, plans and strategies of the Company.  Confidential Information does not include information that has been made generally available to the public without any authorized act on my part or general business “know how.”   
“Inventions” means all patentable and unpatentable inventions, discoveries, developments, designs and ideas. 
“Prospective Customer” means any business, firm or entity to which the Company or its affiliates made a written proposal relating to the Business or from which the Company solicited any Business in writing or by electronic means (including without limitation through submission of written bids).
“Relevant Period” means (i) if I am a current employee of the Company or its affiliates, the entire period of time I have been employed; (ii) if I am a former employee of the Company, the three-year period prior to the termination of my employment with the Company or its affiliates.
“Territory”  means (i) a 100-mile radius (measured by road miles) from each facility owned or operated by the Company or its affiliates during the Relevant Period where any activities relating to the Business are or have been conducted, including the facilities where I rendered service to the Company or its affiliates during my employment; (ii) a 100-mile radius (measured by road miles) from each facility, place of business, remote site sales office or location of a Customer or a Competitor during the Relevant Period;  (iii) each and every county of each and every state in the United States in which the Company has an office, place of business, remote site, sales office or location where the Business has been conducted during the Relevant Period; (iv) each and every county of each and every state in the United States in which the Company has sold products or provided services relating to the Business to a Customer during the Relevant Period; and (v) each country outside the United States in which the Company or its affiliates has provided products or services to a Customer relating to the Business during the Relevant Period.
“Works” means all works of authorship fixed in any tangible medium of expression, including written and electronic documents, product drawings and designs, video, audio and computer programs.  

12SUBSCRIPTION
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 a minimum of $2,000,000 (subject to reduction as hereinafter described) 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

 

1.1Subject
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 One ($1.00) Dollars
per Share (the “Per Share Purchase Price”).

 

1.2The
purchase price for the Shares shall be the number of Shares being purchased multiplied by the Per Share Purchase Price (the “Purchase
Price”). The Purchase Price is payable by check or wire transfer, If payment is made by check it should be payable to
Boxlight Corporation. 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, 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 Investor Profile attached as Annex C.

 

    	 	 	 

    	 

    

 

	4.	Complete
    and Sign the Anti-Money Laundering Information Form attached as Annex D.
	 	 
	5.	Email
    all forms and then send all signed original documents to:

 

Boxlight
Corporation 

1045
Progress Circle

Lawrenceville,
Georgia 30043

Phone:
360-282-6139

Attn:
Sheri Lofgren, Chief Financial Officer

(678)
367-0809 ext. 442

Email:
sheri@boxlightcorp.com

 

	6.	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 Boxlight Corporation at the address provided above, Attention: Sheri Lofgren, Chief Financial Officer.
	 	 
	7.	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:	                                                          ;
    [insert Subscriber’s name]
	Contact:	Sheri
    Lofgren
	Client:	Boxlight
    Corporation

 

1.3The
Shares will be offered for sale, subject to prior completion or termination of the Offering, until September 30, 2016 (the “Offering
Period”), subject to the right of the Company to terminate the Offering Period at any time or 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.
There is no minimum number of Shares that must be sold to complete the Offering and all proceeds, when received shall be used
by the Company for working capital or other general corporate purposes.

 

1.4The
Offering is being made by the Company and its executive officers and directors. No placement agent or other broker/dealer is being
engaged by the Company and no officer, director or employee of the Company shall receive any commissions or other compensation
in connection with the sale of the Shares.

 

1.5Upon
execution hereof by the Subscriber and his or its delivery to the Company of the Purchase Price and the documents referred to
in Section 1.2 above (the “Subscription Documents”), the Company shall as soon as practicable (but in no event
later than 30 days after receipt of the Subscription Documents) deliver to the Subscribers, a stock certificate evidencing the
Shares, duly executed on behalf of the Company.

 

    	 	2	 

    	 

    

 

		B.	Representations
                                         and Warranties by the Subscriber

 

1.6The
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 received
a copy of and has carefully reviewed the Registration Statement, including the Risk Factors section therein and
is fully aware that an investment in the Shares involves 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.

 

1.7The
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.

 

1.8If
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;

 

(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;

 

    	 	3	 

    	 

    

 

(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.

 

1.9The
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.

 

1.10The
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.

 

1.11(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.

 

    	 	4	 

    	 

    

 

(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.

 

1.12The
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.

 

1.13The
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.

 

1.14The
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.

 

1.15The
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.

 

    	 	5	 

    	 

    

 

1.16Such
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.

 

1.17The
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.

 

1.18If
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.

 

1.19The
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.

 

1.20The
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).

 

1.21The
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.

 

    	 	6	 

    	 

    

 

	II.	REPRESENTATIONS
    BY AND WARRANTIES OF THE COMPANY

 

The
Company hereby represents and warrants to the Subscriber that:

 

2.1Organization,
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”).

 

2.2Capitalization.
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. 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”).

 

    	 	7	 

    	 

    

 

2.3Authorization;
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.

 

2.4No
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.

 

(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.

 

    	 	8	 

    	 

    

 

(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.

 

2.5Consents
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.

 

2.6Licenses.
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.

 

2.7Litigation.
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.

 

2.8Compliance.
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.

 

    	 	9	 

    	 

    

 

2.9Regulatory
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.

 

2.10Disclosure.
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.

 

2.11Investment
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.

 

2.12Brokers.
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.

 

2.13Intellectual
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.

 

2.14Title
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.

 

    	 	10	 

    	 

    

 

2.15Material
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.

 

2.16Disclosure.
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

 

3.1The
minimum purchase that may be made by any prospective investor shall be $100. 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.

 

	IV.	CONDITIONS
    TO OBLIGATIONS OF THE SUBSCRIBER

 

4.1The
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.

 

    	 	11	 

    	 

    

 

(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

 

5.1Transfer
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.

 

(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.

 

    	 	12	 

    	 

    

 

(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.

 

5.2Reservation
of Shares. The Company shall at all times maintain a 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.

 

5.3Replacement
of Shares. If any certificate or instrument evidencing any Shares 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.

 

5.4Form
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.

 

5.5Equal
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.

 

5.6Indemnification.

 

(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.

 

    	 	13	 

    	 

    

 

(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.

 

5.7Non-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

 

6.1Except
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.

 

6.2This
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.

 

6.3This
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.

 

6.4Upon
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.

 

    	 	14	 

    	 

    

 

6.5All
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.

 

6.6In
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.

 

6.7The
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.

 

6.8It
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.

 

6.9The
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.

 

6.10This
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.

 

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

 

6.12In
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

 

    	 	15	 

    	 

    

 

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

 

To
subscribe for Shares in the private offering of Boxlight Corporation:

 

	8.	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.
	 	 
	9.	Initial
    the Investor Certification attached as Annex B.
	 	 
	10.	Complete
    and Sign the Investor Profile attached as Annex C.
	 	 
	11.	Complete
    and Sign the Anti-Money Laundering Information Form attached as Annex D.
	 	 
	12.	Email
    all forms and then send all signed original documents to:

 

Boxlight
Corporation 

1045
Progress Circle

Lawrenceville,
Georgia 30043

Phone:
360-464-2119

Attn:
Sheri Lofgren, Chief Financial Officer

(678)
367-0809 ext. 442

Email:
sheri@boxlightcorp.com

 

	13.	If
    you are 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 Boxlight Corporation at the address provided above, Attention: Sheri Lofgren, CFO..
	 	 
	14.	If
    you are 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:	                                                                     ;
    [insert Subscriber’s name]
	Contact:	Sheri
    Lofgren

 

    	 	 	 

    	 

    

 

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 _______________, 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, and (ii) 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 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 _______ Shares for a Purchase Price of $______________ (to be completed by the Subscriber)
under the Subscription Agreement.

 

	SUBSCRIBER (individual)	 	SUBSCRIBER (entity)
	 	 	 	 
	 	 	 	 
	Signature	 	Name of Entity
	 	 	 	 
	 	 	 	 
	Print Name	 	Signature
	 	 	 	 
	 	 	Print Name:	 
	Signature (if Joint Tenants or Tenants in Common)	 	Title: 	 
	 	 	 	 
	Address of Principal Residence:	 	Address of Executive Offices:
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Social Security Number(s):	 	IRS Tax Identification Number: 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Telephone Number:	 	Telephone Number: 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	Facsimile Number:	 	Facsimile Number: 
	 	 	 	 
	 	 	 	 

 

    	 	 	 

    	 

    

 

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

 

BOXLIGHT
CORPORATION

ANTI
MONEY Investor Profile

(Must
be completed by Subscriber)

 

Section
A - Personal Investor Information

	Investor
    Name(s):	 
	Individual
    executing Profile or Trustee:	 
	Social
    Security Numbers / Federal I.D. Number:	 
	Date
    of Birth:	 	 	 	Marital
    Status:	 	 
	Joint
    Party Date of Birth:	 	 	 	Investment
    Experience (Years):	 	 
	Annual
    Income:	 	 	 	Liquid
    Net Worth:	 	 
	Net
    Worth (excluding value of primary residence):	 
	Tax
    Bracket:	 	 	15%
    or below	 	 	25%
    - 27.5%	 	 	Over
    27.5%
	 	 
	Home
    Street Address:	 
	Home
    City, State & Zip Code:	 
	Home
    Phone:	 	Home
    Fax:	 	Home
    Email:	 
	Employer:	 
	Employer
    Street Address:	 
	Employer
    City, State & Zip Code:	 
	Bus.
    Phone:	 	Bus.
    Fax:	 	Bus.
    Email:	 
	Type
    of Business:	 
	 
	If
    you are a United States citizen, please list the number and jurisdiction of issuance of any other government-issued
    document evidencing residence and bearing a photograph or similar safeguard (such as a driver’s license or passport),
    and provide a photocopy of each of the documents you have listed.
	 
	If
    you are NOT a United States citizen, for each jurisdiction of which you are a citizen or in which you work or reside, please
    list (i) your passport number and country of issuance or (ii) alien identification card number AND (iii) number and country
    of issuance of any other government-issued document evidencing nationality or residence and bearing a photograph or similar
    safeguard, and provide a photocopy of each of these documents you have listed. These photocopies must be certified by a lawyer
    as to authenticity.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

    	 	 	 

    	 

    

 

ANNEX
C

 

	Section
    B – Certificate Delivery Instructions
	 
	 	 	Please
    deliver Shares to the Employer Address listed in Section A.
	 	 	Please
    deliver Shares to the Home Address listed in Section A.
	 	 	Please
    deliver Shares to the following address:	 
	 
	Section
    C – Form of Payment – Check or Wire Transfer
	 
	 	 	Check
    payable to Boxlight Corporation
	 	 	Wire
    funds from my outside account according to Section 1(a) of the Subscription Agreement.
	 	 	The
    funds for this investment are rolled over, tax deferred from __________ within the allowed 60 day window.
	 
	Please
    check if you are a FINRA member or affiliate of a FINRA member firm: ________
	 
	 	 	 
	Subscriber
    Signature	 	Date
	 	 	 	 	 	 

    	 	 	 

    	 

    

  

ANNEX
D

 

 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:	 	 
	 	 	 
	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):

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