Document:

Exhibit 4.1

 

	REGISTERED	REGISTERED
	 	 
	
    No. X-1

    

    CUSIP 67021C AR8

    

    ISIN NO. US6702lCAR88

    

    REGISTERED OWNER: CEDE & CO.

    
	
    PRINCIPAL AMOUNT: $300,000,000

    

    STATED MATURITY: AUGUST 15, 2031

    

    INTEREST PAYMENT DATES:

    

    FEBRUARY 15 AND AUGUST 15

    

    REGULAR RECORD DATES: FEBRUARY

    1 OR AUGUST 1 IMMEDIATELY

    PRECEDING
    THE APPLICABLE

    INTEREST PAYMENT DATE

     

 

NSTAR ELECTRIC COMPANY

doing business as EVERSOURCE ENERGY

 

1.95% DEBENTURE DUE 2031

 

THIS SECURITY IS A REGISTERED SECURITY WITHIN THE
MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF THE DEPOSITORY TRUST COMPANY OR A NOMINEE THEREOF.

 

Unless this Security is presented by an authorized
representative of The Depository Trust Company, a New York corporation (“DTC”), to NSTAR ELECTRIC COMPANY, doing business
as EVERSOURCE ENERGY, or its agent for registration of transfer, exchange, or payment, and any certificate issued is registered in the
name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (the “Registered Owner”)
(and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede &
Co., has an interest herein.

 

NSTAR ELECTRIC COMPANY,
doing business as EVERSOURCE ENERGY, a corporation duly organized and validly existing under the laws of The Commonwealth of
Massachusetts (herein called the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay to the Registered Owner, or registered assigns, the principal
amount specified in the title of this security (the “Principal Amount”) on the Stated Maturity, except to the extent
redeemed prior to the Stated Maturity, and to pay interest on said principal sum semi-annually on each Interest Payment Date,
commencing February 15, 2022, at the rate per annum specified in the title of this Security, from the February 15 and
August 15, as the case may be, next preceding the date of this Security to which interest has been paid unless the date hereof
is a date to which interest has been paid, in which case from the date of this Security, or unless no interest has been paid on this
Security, in which case from the date of initial issuance until payment of said principal sum has been made or duly provided for and
at such rate on any overdue principal and premium and (to the extent that the payment of such interest shall be legally enforceable)
on any overdue installment of interest. If any Interest
Payment Date falls on a day that is not a Business Day, the interest payment will be made on the next Business Day, but such payment
will be deemed to have been made on the date that payment was due. No interest will accrue on the amount payable for the period from
the actual payment date to such next Business Day. The interest so payable, and punctually paid or duly provided for, on any
Interest Payment Date will, except as otherwise provided in said Indenture, be paid to the Person in whose name this Security (or
one or more Predecessor Securities) is registered at the close of business on the February 1 or August 1, as the case may
be, next preceding such February 15 or August 15.

  

     

     

    

 

The principal of (and premium, if any) and interest
on this Security are payable in such coin or currency of the United States of America as at the time payment is legal tender for payment
of public and private debts, at the office or agency of THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (hereinafter called the “Indenture
Trustee,” which term includes any successor Indenture Trustee under the Indenture), as Indenture Trustee and Paying Agent, located
at 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania, 15262, or at such other office as the Indenture Trustee shall designate by written
notice to the Registered Owner of this Security; provided that interest shall be paid by wire transfer in immediately available funds
to an account located in the United States of America as the Registered Owner hereof shall designate to the Indenture Trustee in writing
at least 15 Business Days prior to such Interest Payment Date. Any interest not punctually paid or duly provided for shall be payable
as provided in the Indenture.

 

The authentication by the Trustee may be by manual
or electronically transmitted signature.

 

REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS, INCLUDING
THE OPTIONAL REDEMPTION PROVISIONS, OF THIS SECURITY SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES
HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. UNLESS THE CERTIFICATE OF AUTHENTICATION HEREON HAS BEEN EXECUTED BY THE TRUSTEE BY
MANUAL SIONATURE, THIS SECURITY SHALL NOT BE ENTITLED TO ANY BENEFIT UNDER THE INDENTURE, OR BEV ALID OR OBLIGATORY FOR ANY PURPOSE.

  

    2

     

    

 

IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed under its seal.

 

	 	NSTAR ELECTRIC COMPANY
 doing business as EVERSOURCE ENERGY
	 	 

 

	Date: August 23, 2021	By:	 
	 	 	John M. Moreira
	 	 	Senior Vice President − Finance and Regulatory and Treasurer 

 

	Attest:	By:	 
	 	 	Emilie O’Neil  
	 	 	Assistant Treasurer- Corporate Finance and Cash Management

 

INDENTURE
TRUSTEE’S CERTIFICATE OF AUTHENTICATION

 

This is one of the Securities of the series designated
therein referred to in the within- mentioned Indenture.

 

	 	THE BANK OF NEW YORK
 MELLON TRUST COMPANY, N.A.,
 as Indenture Trustee
	 	 
	 	By:	 
	 	 	Name:  
	 	 	Title:  

 

    3

     

    

 

(Reverse of Security)

 

This Security is one of a duly authorized issue
of securities of the Company (herein called the “Securities”) issued under the Indenture, dated as of September 1, 1988,
as supplemented, between the Company and The Bank of New York Mellon Trust Company, N.A. (formerly Bank of Montreal Trust Company), as
Indenture Trustee, to which Indenture and all other indentures supplemental thereto reference is hereby made for a statement of the respective
rights thereunder of the Company, the Indenture Trustee and the Holders of the Securities and the terms upon which the Securities are,
and are to be, authenticated and delivered.

 

This Security is one of the series designated as
the 1.95% Debentures due 2031.

 

The Securities are
redeemable, in whole or in part, at the Company’s option at any time. If the Company elects to redeem the Securities prior to
the Par Call Date (as defined herein), it will do so at a redemption price equal to the greater of the following amounts:
(i) 100% of the principal amount of the Securities to be redeemed, plus accrued and unpaid interest to but excluding the
redemption date or (ii) as determined by the Quotation Agent (as defined herein), the sum of the present values of the
principal and the remaining scheduled payments of interest on the Securities to be redeemed from the redemption date through the Par
Call Date (not including any portion of any payments of interest accrued as of the redemption date) discounted to the redemption
date on a semi-annual basis at the Adjusted Treasury Rate (as defined herein) plus 10 basis points plus accrued and unpaid interest
to, but excluding, the redemption date. If the Company elects to redeem the Securities on or after the Par Call Date, it will do so
at a redemption price equal to one hundred percent (100%) of the principal amount of the Securities being redeemed, plus accrued and
unpaid interest to, but excluding, the redemption date. The redemption price will be calculated assuming a 360-day year consisting
of twelve 30-day months. The Company will send notice of any redemption at least 30 days but not more than 60 days before the
redemption date to each Holder of the Securities to be redeemed. Unless the Company defaults in payment of the redemption price, on
and after the redemption date, interest will cease to accrue on the Securities or portions thereof called for redemption. The
Securities will not be entitled to the benefit of a sinking fund.

 

The terms which follow, when used in this Security,
shall have the following meanings:

 

“Adjusted Treasury Rate” means, with
respect to any redemption date, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue,
assuming a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the Comparable Treasury
Price for such redemption date.

 

“Comparable Treasury
Issue” means the United States Treasury security selected by the Quotation Agent as having an actual maturity comparable to the
remaining term from the redemption date to the Par Call Date of the debentures that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable maturity to the remaining
term from the redemption date to the Par Call Date of the debentures. 

    i

     

    

 

“Comparable Treasury Price” means,
with respect to any redemption date, (A) the average of the Reference Treasury Dealer Quotations for such redemption date, after
excluding the highest and lowest of such Reference Treasury Dealer Quotations, or (B) if the Company obtains fewer than four Reference
Treasury Dealer Quotations, the average of all Reference Treasury Dealer Quotations so received.

 

“Par Call Date” means May 15,
2031, the date that is three months prior to the maturity date of the debentures.

 

“Quotation Agent” means the Reference
Treasury Dealer appointed by the Company.

 

“Reference Treasury Dealer” means a
primary U.S. Government securities dealer in New York City selected by the Company.

 

“Reference Treasury Dealer Quotations”
means, with respect to each Reference Treasury Dealer and any redemption date, the average, as determined by the Company, of the bid and
asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the
Company by such Reference Treasury Dealer at 5:00 p.m. (New York City time) on the third business day preceding such redemption
date.

 

As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Security may be registered on the Security Register of the Company, upon surrender
of this Security for registration of transfer at the office or agency of the Indenture Trustee, as Indenture Trustee and Paying Agent
located at The Bank of New York Mellon Trust Company, N.A., 500 Ross Street, 12th Floor, Pittsburgh, Pennsylvania, 15262, or at such other
office as the Indenture Trustee shall designate by written notice to the Registered Owner of this Security, duly endorsed by, or accompanied
by a written instrument of transfer in form satisfactory to the Company and the Indenture Trustee duly executed by, the Registered Owner
hereof or his attorney duly authorized in writing and thereupon one or more new Securities of this series, of any authorized denominations
and for a like aggregate principal amount and tenor, will be issued to the designated transferee or transferees; provided, however, that
the Indenture Trustee will not be required to register the transfer of or exchange any Security that has been called for redemption in
whole or in part except the unredeemed portion of Securities being redeemed in part.

 

The Securities of this series are issuable only
in registered form without coupons in minimum denominations of $2,000 or any amount in excess thereof which is an integral multiple of
$1,000. As provided in the Indenture, and subject to certain limitations therein set forth, Securities of this series are exchangeable
for a like aggregate principal amount and tenor of Securities of this series of any authorized denomination, as requested by the Holder
surrendering the same; provided, however, that the Company shall not be required to issue any Securities of this series of a denomination
less than $1,000.

 

No service charge (to the
Holder) will be made for any such transfer or exchange, but the Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith. 

    ii

     

    

 

The Indenture Trustee shall be entitled to withhold
from all payments of principal of (and premium, if any) and interest on this Security any amounts required to be withheld under the applicable
provisions of the Federal income tax laws of the United States at the time of such payments.

 

Prior to due presentment for registration of transfer
of this Security, the Company, the Indenture Trustee and any agent of the Company or the Indenture Trustee, may treat the Person in whose
name this Security is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes,
whether or not this Security be overdue and neither the Company, the Indenture Trustee nor any agent of the Company or Indenture Trustee
shall be affected by notice to the contrary.

 

If an Event of Default shall occur and be continuing,
the principal of the Securities of this series may be declared due and payable, and such declarations may be in certain events rescinded,
in the manner and with the effect provided in the Indenture.

 

The Indenture permits,
to the extent therein provided, the modification of the rights and obligations of the Company and the rights of the Holders of the
Securities of each series to be affected under the Indenture at any time by the Company with the consent of the Holders of a
majority in aggregate principal amount of the Securities at the time Outstanding if all of the Securities Outstanding are affected,
or the Holders of a majority in aggregate principal amount of each series to be affected, in case one or more, but less than all, of
the series of the Outstanding Securities are affected. The Indenture also contains provisions permitting the Holders of specified
percentages in aggregate principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all
Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and the consequences thereof. Any such consent or waiver by the Holder of this Security shall be conclusive and
binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer
hereof or in exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security or
such other Security.

 

The Securities of this series are unsecured.

 

All terms in this Security which are defined in
the Indenture shall have the meanings assigned to them in the Indenture.

 

No recourse shall be had for the payment of the
principal of (and premium, if any), or the interest, if any, on this Security, or for any claim based thereon, or upon any obligation,
covenant or agreement of the Company in the Indenture, against any partner, member, incorporator, stockholder, officer or director, as
such, past, present of future, of the Company or of any successor or any of their assets, whether by virtue of any constitution, statute
or rule of law or by the enforcement of any assessment of penalty or otherwise; and all such liability is expressly released and
waived as a condition of, and as part of the consideration for, the issuance of this Security.

 

This Security shall be governed by and construed
in accordance with the laws of The Commonwealth of Massachusetts.

  

    iii

     

    

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face
of this Security, shall be construed as though they were written out in full according to applicable laws or regulations:

 

TEN COM - as tenants in common TEN ENT- as tenants by the entireties

 

JT TEN - as joint tenants with right of survivorship and not as tenants
in common

 

	UNIF GIFT MIN ACT -	 	Custodian	 
	 	(Custodian)	 	(Minor)
	 	 	 	 
	under Uniform Gifts to Minors Act
	 	 	 
	 	(State)	 
	 	 

 

Additional abbreviations may also be used though not in the above list.

 

    iv

     

    

 

ASSIGNMENT

 

FOR VALUE RECEIVED, I or we sell, assign and transfer to

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE:

 

 

 

(Print or type name, address and zip code of assignee)

 

 

 

the within Security and hereby irrevocably constitute and appoint
attorney to transfer the said Security on the books of the Company with full power of substitution in its premises.

 
	Dated:	 	 	Signed:  	 

 

Signatures must be guaranteed by a commercial bank or trust company
or a member of a major stock exchange.

 

	Signature Guarantee	 

 

NOTICE: The above signatures of the holder(s) hereof must correspond
with the name as written upon the face of the Security in every particular, without alteration or enlargement or any change whatever.

 

    vExhibit
10.7

 

UNIT
PURCHASE AGREEMENT

 

This
Unit Purchase Agreement (as amended, supplemented, restated and/or modified from time to time, this “Agreement”) is
entered into as of May [  ], 2021, by and among Marizyme, Inc., a Nevada corporation (the “Company”), and
each investor identified on Appendix A hereto (each, including its successors and assigns, an “Investor” and
collectively, the “Investors”).

 

BACKGROUND

 

WHEREAS,
pursuant to the authorization of the Company’s Board of Directors, the Company is offering (the “Offering”)
up to 4,000,000 units (the “Units”) comprised of, (i) a 10% secured convertible promissory note (the “Note”)
convertible into the Common Stock of the Company (par value $0.001) at an initial price per share of $2.50; (ii) a warrant to purchase
one share of Common Stock, $0.001 par value per share (the “Class A Warrant”); and (iii) a second warrant to purchase
a share of Common Stock, $0.001 par value per share (the “Class B Warrant” and, together with the Notes, the Class
A Warrant, and the Investor Shares (as herein defined) collectively referred to as the “Securities”), at a price per
Unit of $2.50 (the “Price Per Unit”);

 

WHEREAS,
the Units are being offered on a “reasonable best efforts” basis with respect to a maximum of $10,000,000 (the “Maximum
Offering Amount”) and without any minimum, to a limited number of “accredited investors” (as that term is defined
by Rule 501(a) of Regulation D (“Regulation D”) promulgated by the Securities and Exchange Commission under the Securities
Act of 1933, as amended (the “Securities Act”);

 

WHEREAS,
the Company and each Investor is executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act and/or Rule 506 of Regulation D promulgated by the SEC under the Securities Act;

 

WHEREAS,
the Company has retained Univest Securities LLC to act as its exclusive placement agent in connection with the sale of the Units pursuant
to this Agreement (the “Placement Agent”);

 

WHEREAS,
the minimum investment amount that may be purchased by an Investor is 10,000 Units for an aggregate minimum purchase price of $25,000,
unless the Company and the Placement Agent waive such requirement in their sole discretion; and

 

WHEREAS,
the Company desires to issue and sell the Units to the Investors at one or more Closing (as defined below) as set forth herein.

 

NOW
THEREFORE, in consideration of the foregoing recitals and the covenants and agreements set forth herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and each Investor hereby agree as follows:

 

1. DEFINITIONS.
As used in this Agreement, the following terms shall have the following meanings specified or indicated below, and such meanings
shall be equally applicable to the singular and plural forms of such defined terms:

 

“1934
Act” means the Securities Exchange Act of 1934, as amended.

 

    	 

     

    

 

“Acquisition”
means the acquisition by the Company or any direct or indirect Subsidiary of the Company of a majority of the Equity Interests or substantially
all of the assets and business of any Person, whether by direct purchase of Equity Interests, asset purchase, merger, consolidation or
like combination.

 

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

 

“Agreement”
has the meaning set forth in the preamble.

 

“Blank
Check Preferred Stock” has the meaning set forth in Section 3.4(a).

 

“Board
of Directors” has the meaning set forth in the Background section.

 

“Business
Day” means any day other than a Saturday, Sunday or any other day on which the Federal Reserve Bank of New York is closed in
New York City.

 

“Capital
Stock” means the Common Stock and any other classes of capital stock of the Company.

 

“Change
of Control” means, with respect to the Company:

 

	 	(a)	a
    change in the composition of the Board of Directors of the Company at a single shareholder meeting where a majority of the individuals
    that were directors of the Company immediately prior to the start of such shareholder meeting are no longer directors at the conclusion
    of such meeting;
	 	(b)	a
    change in composition of the Board of Directors of the Company prior to the termination of this Agreement where a majority of the
    individuals that were directors as of the date of this Agreement cease to be directors of the Company prior to the termination of
    this Agreement;
	 	(c)	unless
    their replacements shall be approved by an Investor in an Investor’s sole discretion, any two of the individuals who are the
    Chief Executive Officer, President or Chairman of the Board of Directors as of the date of this Agreement cease to hold such position
    at any time prior to the termination of this Agreement;
	 	(d)	other
    than a shareholder that holds such a position at the date of this Agreement, if a Person comes to have beneficial ownership, control
    or direction over more than forty percent (40%) of the voting rights attached to any class of voting securities of the Company; or
	 	(e)	the
    sale or other disposition by the Company or any of its Subsidiaries in a single transaction, or in a series of transactions, of all
    or substantially all of their respective assets.

 

    	 	2	 

    	 

    

 

“Class
A Warrant” has the meaning set forth in the Background section.

 

“Class
B Warrant” has the meaning set forth in the Background section.

 

“Closing”
has the meaning set forth in Section 2.1.

 

“Closing
Date” has the meaning set forth in Section 2.2.

 

“Code”
has the meaning set forth in Section 2.1.

 

“Common
Stock” means the common stock of the Company, par value $0.001 per share.

 

“Company”
has the meaning set forth in the preamble.

 

“Company
Patent Security Agreement” means a patent security agreement, substantially in the form attached hereto as Exhibit C.

 

“Company
Trademark Security Agreement” means a trademark security agreement, substantially in the form attached hereto as Exhibit
D.

 

“Conversion
Shares” means the shares of Common Stock issuable upon the full or any partial conversion of the Note.

 

“Equity
Interests” means and includes capital stock, membership interests and other similar equity securities, and shall also include
warrants or options to purchase capital stock, membership interests or other equity interests.

 

“Event”
means any event, change, development, effect, condition, circumstance, matter, occurrence or state of facts.

 

“Event
of Default” has the meaning set forth in Section 7.1.

 

“Exempted
Securities” means (a) shares of Common Stock or rights, warrants or options to purchase Common Stock issued in connection with
any Acquisition, (b) equity securities issued by reason of a dividend, stock split, split-up or other distribution on shares of Common
Stock, (c) shares of Common Stock or rights, warrants or options to purchase Common Stock issued to employees or directors of, or consultants
or advisors to, the Company or any of its Subsidiaries pursuant to a plan, agreement or arrangement approved by the Board of Directors
(“Equity Plans”), or (d) shares of Common Stock actually issued upon the exercise of options or shares of Common Stock
actually issued upon the conversion or exchange of any securities convertible into Common Stock, in each case provided that such issuance
is pursuant to the terms of the applicable option or convertible security.

 

“HSR
Act” has the meaning set forth in Section 5.16.

 

“Investor”
and “Investors” have their respective meanings set forth in the preamble.

 

“Investor
Group” shall mean an Investor plus any other Person with which an Investor is considered to be part of a group under Section
13 of the 1934 Act or with which an Investor otherwise files reports under Sections 13 and/or 16 of the 1934 Act.

 

    	 	3	 

    	 

    

 

“Investor
Party” has the meaning set forth in Section 5.12(a).

 

“Investor
Shares” means the Conversion Shares, the Warrant Shares and any other shares issued or issuable to an Investor pursuant to
this Agreement or any of the Securities.

 

“IP
Rights” has the meaning set forth in Section 3.10.

 

“Law”
means any law, rule, regulation, order, judgment or decree, including, without limitation, any federal and state securities Laws.

 

“Losses”
has the meaning set forth in Section 5.12(a).

 

“Majority
in Interest of the Investors” means those Investors holding fifty-one percent (51%) of the aggregate subscription amounts of
the Units at the time the approval or consent of the Investors is being sought.

 

“Material
Adverse Effect” means any material adverse effect on (i) the businesses, properties, assets, prospects, operations, results
of operations or financial condition of the Company, or the Company and the Subsidiaries, taken as a whole, or (ii) the ability of the
Company to consummate the transactions contemplated by this Agreement or to perform its obligations hereunder or under the Securities;
in this regard, any the following shall be deemed either alone or in combination to constitute, and any of the following shall be taken
into account in determining whether there has been or would be, a Material Adverse Effect: (a) any adverse effect resulting from or arising
out of general economic conditions; (b) any adverse effect resulting from or arising out of general conditions in the industries in which
the Company and the Subsidiaries operate; (c) any adverse effect resulting from any changes to applicable Law; or (d) any adverse effect
resulting from or arising out of any pandemic or similar emergency, transportation disruption, strike or labor disruption, natural disaster
or any acts of terrorism, sabotage, military action or war or any escalation or worsening thereof.

 

“Maximum
Percentage” means 4.99%; provided, that if at any time after the date hereof an Investor Group beneficially owns in
excess of 4.99% of any class of Equity Interests in the Company that is registered under the 1934 Act (excluding any Equity Interests
deemed beneficially owned by virtue of the Units), then the Maximum Percentage shall automatically increase to 9.99% so long as an Investor
Group owns in excess of 4.99% of such class of Equity Interests (and shall, for the avoidance of doubt, automatically decrease to 4.99%
upon an Investor Group ceasing to own in excess of 4.99% of such class of Equity Interests).

 

“Money
Laundering Laws” has the meaning set forth in Section 3.25.

 

“New
Securities” means, collectively, equity securities of the Company, whether or not currently authorized, as well as rights,
options, or warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or
exchangeable into or exercisable for such equity securities.

 

“Note”
or “Notes” means a Note substantially in the form attached hereto as Exhibit H.

 

    	 	4	 

    	 

    

 

“OFAC”
has the meaning set forth in Section 3.23.

 

“Offer
Notice” has the meaning set forth in Section 10.1.

 

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

 

“Pledge
Agreement” means a pledge agreement, substantially in the form attached hereto as Exhibit B.

 

“Prepayment
Right” shall have the meaning set forth in Section 2.4.

 

“Proceedings”
has the meaning set forth in Section 3.6.

 

“Prohibited
Transaction” means a transaction with a third party or third parties in which the Company issues or sells (or arranges or agrees
to issue or sell):

 

(a) any
debt, equity or equity-linked securities (including options or warrants) that are convertible into, exchangeable or exercisable for,
or include the right to receive shares of the Company’s Capital Stock:

 

(i) at
a conversion, repayment, exercise or exchange rate or other price that is based on, and/or varies with, a discount to the future trading
prices of, or quotations for, shares of Common Stock; or

 

(ii) at
a conversion, repayment, exercise or exchange rate or other price that is subject to being reset at some future date after the
initial issuance of such debt, equity or equity-linked security or upon the occurrence of specified or contingent events (other than
warrants that may be repriced by the Company); or

 

(b) any
securities in a capital or debt raising transaction or series of related transactions which grant to an investor the right to receive
additional securities based upon future transactions of the Company on terms more favorable than those granted to such investor in such
first transaction or series of related transactions;

 

and
are deemed to include transactions generally referred to as at-the-market transactions (ATMs) or equity lines of credit and stand-by
equity distribution agreements, and convertible securities and loans having a similar effect. Notwithstanding the foregoing, and for
the avoidance of doubt, rights issuances, shareholder purchase plans, Equity Plans, convertible securities, or issuances of Equity Interests,
based on the trading price of the Common Stock on the Trading Market but each at a fixed price per share, shall not be deemed to be a
Prohibited Transaction.

 

“Prospectus”
means the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement, with respect to
the terms of the offering of any portion of an Investor Shares covered by such Registration Statement and by all other amendments and
supplements to the prospectus, including post-effective amendments and all material incorporated by reference in such prospectus, and
any “free writing prospectus” as defined in Rule 405 under the Securities Act.

 

    	 	5	 

    	 

    

 

“register,”
“registered” and “registration” refer to a registration made pursuant to the Registration Rights
Agreement by preparing and filing a Registration Statement or similar document in compliance with the Securities Act (as defined below),
and the declaration or ordering of effectiveness of such Registration Statement or document.

 

“Registration
Rights Agreement” means a registration rights agreement substantially in the form attached hereto as Exhibit G.

 

“Registration
Statement” means any registration statement of the Company filed under the Securities Act that covers the resale of any Investor
Shares pursuant to the provisions of this Agreement, including the Prospectus and amendments and supplements to such Registration Statement,
and including post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement.

 

“Reverse
Split” has the meaning set forth in Section 5.21.

 

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

 

“SEC
Documents” has the meaning set forth in Section 3.5(a).

 

“Securities”
has the meaning set forth in the Background section.

 

“Securities
Act” has the meaning set forth in the Background section.

 

“Securities
Termination Event” means either of the following has occurred:

 

(a) trading
in securities generally in the United States has been suspended or limited for a consecutive period of greater than ten (10) Trading
Days; or

 

(b) a
banking moratorium has been declared by the United States or the New York State authorities and is continuing for a consecutive period
of greater than three (3) Business Days.

 

“Security
Agreement” means a security agreement, substantially in the form attached hereto as Exhibit A.

 

“Stockholder
Approval” shall mean the approval of such number of the holders of the outstanding shares of Company’s voting Common
Stock as required by the Company’s bylaws (the “Bylaws”) and the Nevada Revised Statutes: (a) if and to the
extent legally required, to amend the Company’s articles of incorporation, as amended (“Articles of Incorporation”),
to increase the number of authorized shares of Common Stock by at least the number of shares of Common Stock equal to the number of Shares
issuable hereunder, (b) to ratify and approve all of the transactions contemplated by the Transaction Documents, including the issuance
of all of Investor Shares (as such term is defined in each of such documents) issued and potentially issuable to an Investor thereunder,
all as may be required by the applicable rules and regulations of the Trading Market (or any successor entity).

 

    	 	6	 

    	 

    

 

“Subsidiaries”
and “Subsidiary” have the meaning set forth in Section 3.4(b).

 

“Subsidiary
Guaranty” means a guaranty in favor of the Investors, substantially in the form attached hereto as Exhibit E.

 

“Subsidiary
Security Agreement” means a security agreement with the Investors, substantially in the form attached hereto as Exhibit
F.

 

“Subscription
Amount” means, as to any Investor, the aggregate amount to be paid for the Units purchased hereunder as specified on Appendix
A.

 

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

 

“Trading
Market” means whichever of the New York Stock Exchange, NYSE American, or the Nasdaq Stock Market (including the Nasdaq Capital
Market, the Nasdaq Global Market, the Nasdaq Global Select Market), the OTC Bulletin Board, the OTC QB Marketplace or the OTC QX Marketplace
(or any successors to any of the foregoing), on which the Common Stock is listed or quoted for trading on the date in question.

 

“Transaction
Documents” means this Agreement, the Notes, the Warrants, the Registration Rights Agreement, the Security Agreement, the Company
Patent Security Agreement, the Company Trademark Security Agreement, the Pledge Agreement, the Subsidiary Guaranty, the Subsidiary Security
Agreement, and any other documents or agreements executed or delivered in connection with the transactions contemplated hereunder.

 

“Units”
has the meaning set forth in the Background section.

 

“Unitholder
Representative” means the representative selected by a Majority in Interest of the Investors to represent their interests upon
the occurrence and continuance of an Event of Default. To this end, the Representative shall thereafter be able to act on behalf of the
Investors and pursue remedies under any Transaction, amend or waive any provision under any of the Transaction Documents or otherwise
act on behalf of the Investors.

 

“Warrants”
means the Class A Warrants and the Class B Warrants, substantially in the respective forms attached hereto as Exhibit I.

 

“Warrant
Shares” means the shares of Common Stock issuable upon exercise of the Class A Warrant or the Class B Warrant.

 

2. PURCHASE
AND SALE OF THE NOTE AND THE WARRANT.

 

2.1 Purchase
and Sale of the Units.

 

(a) Subject
to the terms and conditions set forth herein, the Company intends to raise up to $10,000,000 on a rolling basis. No minimum amount is
required to be raised in this Offering in order to have an initial closing of this Offering (the initial closing of this Offering and
each other closing of this offering is referred to as a “Closing” and the applicable date associated with a Closing
is referred to as a “Closing Date”). Closings will occur on a rolling basis and as the Company and the Placement Agent
will mutually determine the timing of the initial Closing and each Closing thereafter. Each Closing hereunder, including payment for
and delivery of the Units, shall, unless otherwise agreed to by the Company and the Placement Agent, take place remotely via the exchange
of documents and signatures, subject to satisfaction or waiver of the conditions set forth in Section 6.

 

    	 	7	 

    	 

    

 

(b) The
Investors and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes, the
applicable subscription amount shall be allocable between the securities comprising the Units based on the relative fair market values
thereof. Neither any Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation,
inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section
1313 of the Internal Revenue Code of 1986, as amended (the “Code”), or any analogous provision of applicable state,
local or non-U.S. law.

 

2.2 Closing.
On the applicable Closing Date, upon the terms and subject to the conditions set forth herein, substantially concurrent with the execution
and delivery of this Agreement by the Company and the applicable Investors, the Company agrees to sell at the applicable Closing, and
the indicated Investors, severally and not jointly, agree to purchase at the Closing, up to an aggregate of $10,000,000 of Units, calculated
based upon the Price Per Unit, for each Investor equal to such Investor’s Subscription Amount as set forth on Appendix A
hereto, and the principal amount of a Note and Investor Warrants, which make up each Unit as set forth in Appendix A hereto. Each
Investor purchasing Units on applicable Closing Date shall deliver to the Company such Investor’s Subscription Amount by wire transfer
of immediately available funds in accordance with the Company’s written wire instructions, and the Company shall deliver to each
Investor its respective Units, and the Company and each Investor shall deliver the other items set forth in Section 2.3 deliverable at
the Closing. Upon satisfaction of the covenants and conditions set forth in Section 6, the applicable Closing shall occur remotely
by exchange of documents or in such other manner and/or at such location as the Company and the Placement Agent shall mutually agree.

 

2.3 Deliverables.

 

(a) On
or prior to the Initial Closing Date (except as noted), the Company shall deliver or cause to be delivered to each Investor the following:

 

(i) this
Agreement duly executed by the Company;

 

(ii) the
specified Notes, duly executed by the Company, having the respective principal amounts set forth on Appendix A, registered in
the name of the specified Investor;

 

(iii) the
specified Class A Warrants and Class B Warrants, duly executed by the Company, in the respective amounts of Warrants set forth on Appendix
A, registered in the name of the specified Investor;

 

(iv) the
Pledge Agreement executed by the Company and the applicable Subsidiary;

 

    	 	8	 

    	 

    

 

(v) the
Security Agreement duly executed by the Company;

 

(vi) the
Company Patent Security Agreement, duly executed by the Company;

 

(vii) Company
Trademark Security Agreement, duly executed by the Company;

 

(viii) the
Subsidiary Guaranty Agreement duly executed by the Subsidiaries;

 

(ix) the
Subsidiary Security Agreement duly executed by the Subsidiaries;

 

(x) the
Registration Rights Agreement duly executed by the Company;

 

(xi) a
Transfer Agent Instruction Letter duly executed by the Company and the Transfer Agent;

 

(xii) an
opinion from the Company’s counsel in a form reasonably acceptable to the Placement Agent’s counsel;

 

(xiii) an
officer’s certificate and compliance certificate, each in a form reasonably acceptable to the Placement Agent’s counsel;
and

 

(xiv) such
other opinions, certificates, statements, including, without limitation, a closing statement, and agreements as the Placement Agent’s
counsel may reasonably require.

 

(b)
On or prior to the Initial Closing Date, each Investor signatory to the specified agreement shall deliver or cause to be delivered to
the Company, as applicable, the following:

 

(xv) this
Agreement duly executed by such Investor;

 

(xvi) the
applicable Investor’s Subscription Amount for its Units;

 

(xvii) the
Security Agreement duly executed by such Investor;

 

(xviii) the
Company Patent Security Agreement, duly executed by such Investor;

 

(xix) Company
Trademark Security Agreement, duly executed by such Investor;

 

(xx) the
Subsidiary Guaranty Agreement, if and as applicable, duly executed by such Investor;

 

(xxi) the
Subsidiary Security Agreement duly executed by such Investor;

 

(xxii) the
Registration Rights Agreement duly executed by such Investor; and

 

    	 	9	 

    	 

    

 

(xxiii) a
Transfer Agent Instruction Letter duly executed by such Investor.

 

(c) On
or prior to any subsequent Closing Date (except as noted), the Company shall deliver or cause to be delivered to the specified Investor
the following:

 

(i) this
Agreement duly executed by the Company;

 

(ii) the
specified Notes, duly executed by the Company, having the respective principal amounts set forth on Appendix A, registered in
the name of the specified Investor;

 

(iii) the
specified Class A Warrants and Class B Warrants, duly executed by the Company, in the respective amounts of Warrants set forth on Appendix
A, registered in the name of the specified Investor;

 

(iv) the
Pledge Agreement executed by the Company and the applicable Subsidiary;

 

(v) the
Security Agreement duly executed by the Company;

 

(vi) the
Company Patent Security Agreement, duly executed by the Company;

 

(vii) Company
Trademark Security Agreement, duly executed by the Company;

 

(viii) the
Subsidiary Guaranty Agreement duly executed by the Subsidiaries;

 

(ix) the
Subsidiary Security Agreement duly executed by the Subsidiaries;

 

(x) the
Registration Rights Agreement duly executed by the Company;

 

(xi) a
Transfer Agent Instruction Letter duly executed by the Company and the Transfer Agent;

 

(xii) an
opinion from the Company’s counsel in a form reasonably acceptable to the Placement Agent’s counsel; and

 

(xiii) such
other opinions, certificates, statements, including, without limitation, a closing statement, and agreements as the Placement Agent’s
counsel may reasonably require.

 

(d) On
or prior to any subsequent Closing Date, each Investor signatory to the specified agreement shall deliver or cause to be delivered to
the Company, as applicable, the following:

 

(i) this
Agreement duly executed by such Investor;

 

(ii) the
applicable Investor’s Subscription Amount for its Units;

 

(iii) the
Security Agreement duly executed by such Investor;

 

    	 	10	 

    	 

    

 

(iv) the
Company Patent Security Agreement, duly executed by such Investor;

 

(v) Company
Trademark Security Agreement, duly executed by such Investor;

 

(vi) the
Subsidiary Guaranty Agreement, if and as applicable, duly executed by such Investor;

 

(vii) the
Subsidiary Security Agreement duly executed by such Investor;

 

(viii) the
Registration Rights Agreement duly executed by such Investor; and

 

(ix) a
Transfer Agent Instruction Letter duly executed by such Investor;

 

2.4 Prepayment
Right. As set forth in the Note, the Company will not have the right to pre-pay the entire then-outstanding principal amount of the
Notes without the written consent of a Majority in Interest of the Investors.

 

2.5 Senior
Obligation. As an inducement for the Investors to enter into this Agreement and to purchase the Units, all obligations of the Company
pursuant to this Agreement and the Securities shall be secured by a first priority security interest in and lien upon all assets of the
Company and the Subsidiaries.

 

3. REPRESENTATIONS
AND WARRANTIES OF THE COMPANY. The Company represents and warrants
to each Investor and covenants with each Investor that, except as is set forth in the Disclosure Letter being delivered to the Investors
as of the date hereof and as of each Closing Date, the following representations and warranties are true and correct:

 

3.1 Organization
and Qualification. The Company is a corporation duly organized and validly existing in good standing under the Laws of the State
of Nevada and has the requisite corporate power and authority to own its properties and to carry on its business as now being conducted.
Each Subsidiary is duly formed and validly existing in good standing under the Laws of the state of its organizztion and has the requisite
corporate or limited liability company power and authority, as applicable, to own its properties and to carry on its business as now
being conducted. Each of the Company and the Subsidiaries is duly qualified to do business and is in good standing in every jurisdiction
in which the ownership of its property or the nature of the business conducted by it makes such qualification necessary, except to the
extent that the failure to be so qualified or be in good standing would not have a Material Adverse Effect.

 

    	 	11	 

    	 

    

 

3.2 Authorization;
Enforcement; Compliance with Other Instruments. Each of the Company and the Subsidiaries has the requisite corporate or limited liability
company power, as applicble, and authority to execute the Transaction Documents to which it is a party, in the case of the Company, to
issue and sell the Units pursuant hereto, and, in both cases, to perform its obligations under the Transaction Documents to which it
is a party, including, in the case of the Company, issuing the Investor Shares on the terms set forth in this Agreement. The execution
and delivery of the Transaction Documents to which it is a party by the Company and each Subsidiary and the issuance and sale by the
Company of the Securities pursuant hereto, including without limitation, the reservation of the Conversion Shares and the Warrant Shares
for future insuance, have been duly and validly authorized by the Company’s Board of Directors for itself and in its capacity as
the member manager or director of each Subsidiary and except as set forth on Schedule 3.2, no further consent or authorization
is required by the Company, its Board of Directors, its stockholders, any Subsidiary or any other Person in connection therewith. The
Transaction Documents have been duly and validly executed and delivered by the Company and each Subsidiary and constitute valid and binding
obligations of each of the Company and the Subsidiaries, enforceable against the Company and each Subsidiary in accordance with their
respective terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar Laws relating to, or affecting generally, the enforcement of creditors’ rights
and remedies.

 

3.3 No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and each Subsidiary and the issuance
and sale of the Units by the Company hereunder will not (a) conflict with or result in a violation of the Articles of Incorporation or
Bylaws or any Subsidiary’s certificate of formation or organizational documents, (b) conflict with, or constitute a material default
(or an event which, with notice or lapse of time or both, would become a material default) under, or give to others any right of termination,
amendment, acceleration or cancellation of, any material agreement to which the Company or any of the Subsidiaries is a party, or (c)
subject to the making of the filings referred to in Section 5, and, violate in any material respect any Law or any rule or regulation
of the Trading Market applicable to the Company or any of the Subsidiaries or by which any of their properties or assets are bound or
affected. Assuming the accuracy of each Investor’s representations in Section 4 and subject to the making of the filings
referred to in Section 5, (i) no approval or authorization will be required from any governmental authority or agency, regulatory
or self-regulatory agency or other third party (including the Trading Market) in connection with the issuance of the Units and the other
transactions contemplated by this Agreement (including the issuance of the Conversion Shares upon conversion of the Notes and the Warrant
Shares upon exercise of the Warrants) and (ii) the issuance of the Notes and the Warrants, and the issuance of the Conversion Shares
upon the conversion of the Notes and the Warrant Shares upon exercise of the Warrants will be exempt from the registration and qualification
requirements under the Securities Act and all applicable state securities Laws.

 

3.4 Capitalization
and Subsidiaries.

 

(a) The
authorized Capital Stock of the Company consists of: (i) 75,000,000 shares of Common Stock and (ii) 25,000,000 shares of blank check
preferred to be designated by the Board of Directors (the “Blank Check Preferred Stock”). As of the close of business
on May 11, 2021: (A) 35,928,188 shares of Common Stock were issued and outstanding and (B) no shares of Blank Check Preferred Stock were
issued and outstanding; and since May 11, 2021, and through the date of this Agreement, the Company has issued 0 additional shares of
Common Stock, cancelled 0 shares of Common Stock and issued no additional shares of Preferred Stock. As of May 11, 2021, (x) 443,915
shares of Common Stock are issuable upon exercise of options granted under the Company’s Long-Term Stock Incentive Plan and 1,250,144
additional shares are reserved for future issuance under such plan; (y) 3,393,651 shares of Common Stock issuable upon exercise of outstanding
warrants, with exercise prices ranging from $1.375 to $5.00 per share. The Company shall duly reserve up to 4,000,000 shares of Common
Stock for issuance upon conversion of the Notes and shall duly reserve 8,000,000 shares of Common Stock for issuance upon exercise of
the Warrants. The Conversion Shares, when issued upon conversion of the Notes in accordance with their terms, and the Warrant Shares,
if and when issued upon exercise of the Warrants in accordance with their terms, will be validly issued, fully paid and non-assessable
and free from all taxes, liens and charges with respect to the issuance thereof. Other than as set forth on Schedule 3.4(d), no
shares of the Company’s Capital Stock are subject to preemptive rights or any other similar rights or any liens or encumbrances
suffered or permitted by the Company. The Articles of Incorporation and Bylaws on file on the SEC’s EDGAR website are true and
correct copies of the Articles of Incorporation and Bylaws as in effect as of the date hereof. The Company is not in violation of any
provision of its Articles of Incorporation or Bylaws.

 

    	 	12	 

    	 

    

 

(b) Schedule
3.4(b) lists each direct and indirect subsidiary of the Company (each, a “Subsidiary” and collectively, the “Subsidiaries”)
and indicates for each Subsidiary (i) the authorized capital stock or other Equity Interest of such Subsidiary as of the date hereof,
(ii) the number and kind of shares or other ownership interests of such Subsidiary that are issued and outstanding as of the date hereof,
and (iii) the owner of such shares or other ownership interests. No Subsidiary has any outstanding stock options, warrants or other instruments
pursuant to which such Subsidiary may at any time or under any circumstances be obligated to issue any shares of its capital stock or
other Equity Interests. Each Subsidiary is duly organized and validly existing in good standing under the laws of its jurisdiction of
organization and has all requisite power and authority to own its properties and to carry on its business as now being conducted.

 

(c) Other
than as set forth on Schedule 3.4(c), neither the Company nor any Subsidiary is bound by any agreement or arrangement pursuant
to which it is obligated to register the sale of any securities under the Securities Act. Other than with respect to the Series A Preferred
Stock, there are no outstanding securities of the Company or any of the Subsidiaries which contain any redemption or similar provisions,
and there are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound
to redeem or purchase any security of the Company or any Subsidiary. Other than as set forth on Schedule 3.4(d), there are no
outstanding securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Note,
the Warrant or the Investor Shares. Neither the Company nor any Subsidiary has any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement.

 

(d) Other
than as set forth on Schedule 3.4(d), the issuance and sale of any of the Securities will not obligate the Company to issue shares
of Common Stock or other securities to any other Person and will not result in the adjustment of the exercise, conversion, exchange,
or reset price of any outstanding securities.

 

(e) As
of the date of this Agreement, the Company has capacity under the rules and regulations of the Trading Market to issue up to 39,071,812
shares of Common Stock (or securities convertible into or exercisable for Common Stock) without obtaining Stockholder Approval.

 

    	 	13	 

    	 

    

 

3.5 SEC
Documents; Financial Statements.

 

(a) As
of the date hereof, the Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with
the SEC pursuant to the reporting requirements of the 1934 Act (all of the foregoing filed prior to the date hereof and all exhibits
included therein and financial statements and schedules thereto and documents incorporated by reference therein being hereinafter referred
to as the “SEC Documents”). As of their respective filing dates, the SEC Documents complied in all material respects
with the requirements of the 1934 Act and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents,
and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted
to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

 

(b) As
of their respective dates, the financial statements of the Company included in the SEC Documents complied as to form in all material
respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto. Such financial
statements have been prepared in accordance with generally accepted accounting principles, and audited by a firm that is a member a member
of the Public Companies Accounting Oversight Board consistently applied, during the periods involved (except as may be otherwise indicated
in such financial statements or the notes thereto, or, in the case of unaudited interim statements, to the extent they may exclude footnotes
or may be condensed or summary statements) and fairly present in all material respects the consolidated financial position of the Company
as of the dates thereof and the consolidated results of its operations and consolidated cash flows for the periods then ended (subject,
in the case of unaudited statements, to normal year-end audit adjustments). No other written information provided by or on behalf of
the Company to any Investor in connection with such Investor’s purchase of the Units which is not included in the SEC Documents
contains any untrue statement of a material fact or omits to state any material fact necessary to make the statements therein, in the
light of the circumstance under which they are or were made, not misleading.

 

(c) The
Company and each of the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that
(i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded
as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles and to maintain
asset accountability, (iii) reasonable controls to safeguard assets are in place and (iv) the recorded accountability for assets is compared
with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences.

 

3.6 Litigation
and Regulatory Proceedings. Except as disclosed in SEC Documents, there are no material actions, causes of action, suits, claims,
proceedings, inquiries or investigations (collectively, “Proceedings”) before or by any court, public board, government
agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of Company or any of the Subsidiaries,
threatened against or affecting the Company or any of the Subsidiaries, the Common Stock or any other class of issued and outstanding
shares of the Company’s Capital Stock, or any of the Company’s or the Subsidiaries’ officers or directors in their
capacities as such and, to the knowledge of the executive officers of the Company, there is no reason to believe that there is any basis
for any such Proceeding.

 

    	 	14	 

    	 

    

 

3.7 No
Undisclosed Events, Liabilities or Developments. No event, development or circumstance has occurred or exists, or to the knowledge
of the executive officers of the Company is reasonably anticipated to occur or exist that (a) would reasonably be anticipated to have
a Material Adverse Effect or (b) would be required to be disclosed by the Company under applicable securities Laws on a registration
statement filed with the SEC relating to an issuance and sale by the Company of its Common Stock and which has not been publicly announced.

 

3.8 Compliance
with Law. The Company and each of the Subsidiaries have conducted and are conducting their respective businesses in compliance in
all material respects with all applicable Laws and are in compliance in all material respects with the rules and regulations of the Trading
Market. The Company is not aware of any facts which could reasonably be anticipated to lead to a delisting of the Common Stock by the
Trading Market in the future.

 

3.9 Employee
Relations. Neither the Company nor any Subsidiary is involved in any union labor dispute nor, to the knowledge of the Company, is
any such dispute threatened. Neither the Company nor any Subsidiary is a party to any collective bargaining agreement. No executive officer
(as defined in Rule 501(f) of the Securities Act) has notified the Company that such officer intends to leave the Company’s employ
or otherwise terminate such officer’s employment with the Company.

 

3.10 Intellectual
Property Rights. The Company and each Subsidiary owns or possesses adequate rights or licenses to use all trademarks, trade names,
service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental
authorizations, trade secrets and other intellectual property rights (collectively, “IP Rights”) necessary to conduct
their respective businesses as now conducted. None of the material IP Rights of the Company or any of the Subsidiaries are expected to
expire or terminate within three (3) years from the date of this Agreement. Neither the Company nor any Subsidiary is infringing, misappropriating
or otherwise violating any IP Rights of any other Person. No claim has been asserted, and no Proceeding is pending, against the Company
or any Subsidiary alleging that the Company or any Subsidiary is infringing, misappropriating or otherwise violating the IP Rights of
any other Person, and, to the Company’s knowledge, no such claim or Proceeding is threatened, and the Company is not aware of any
facts or circumstances which might give rise to any such claim or Proceeding. The Company and the Subsidiaries have taken commercially
reasonable security measures to protect the secrecy, confidentiality and value of all of their material IP Rights.

 

3.11 Environmental
Laws. Except, in each case, as would not be reasonably anticipated to have a Material Adverse Effect, the Company and the Subsidiaries
(a) are in compliance with any and all applicable Laws relating to the protection of human health and safety, the environment or hazardous
or toxic substances or wastes, pollutants or contaminants, (b) have received and hold all permits, licenses or other approvals required
of them under all such Laws to conduct their respective businesses and (c) are in compliance with all terms and conditions of any such
permit, license or approval.

 

    	 	15	 

    	 

    

 

3.12 Title
to Assets. The Company and the Subsidiaries have good and marketable title to all personal property owned by them which is material
to their respective businesses, in each case free and clear of all liens, encumbrances and defects except those set forth on Schedule
3.12. Any real property and facilities held under lease by the Company or any Subsidiary are held under valid, subsisting and enforceable
leases with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings
by the Company and the Subsidiaries.

 

3.13 Insurance.
The Company and each of the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as management of the Company reasonably believes to be prudent and customary in the businesses in which the Company
and the Subsidiaries are engaged. Neither the Company nor any of the Subsidiaries has been refused any insurance coverage sought or applied
for, and the Company has no reason to believe that it will not be able to renew all existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers.

 

3.14 Regulatory
Permits. The Company and the Subsidiaries have in full force and effect all certificates, approvals, authorizations and permits from
all regulatory authorities and agencies necessary to own, lease or operate their respective properties and assets and conduct their respective
businesses, and neither the Company nor any Subsidiary has received any notice of Proceedings relating to the revocation or modification
of any such certificate, approval, authorization or permit, except for such certificates, approvals, authorizations or permits with respect
to which the failure to hold would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

3.15 No
Materially Adverse Contracts, Etc. Neither the Company nor any of the Subsidiaries is (a) subject to any charter, corporate or other
legal restriction, or any judgment, decree or order which in the judgment of the Company’s officers has or is expected in the future
to have a Material Adverse Effect or (b) a party to any contract or agreement which in the judgment of the Company’s management
has or would reasonably be anticipated to have a Material Adverse Effect.

 

3.16 Taxes.
The Company and the Subsidiaries each has made or filed, or caused to be made or filed, all United States federal, and applicable state,
local and non-U.S. tax returns, reports and declarations required by any jurisdiction to which it is subject and has paid all taxes and
other governmental assessments and charges that are material in amount, required to be paid by it, regardless of whether such amounts
are shown or determined to be due on such returns, reports and declarations, except those being contested in good faith by appropriate
proceedings and for which it has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent
to the periods to which such returns, reports or declarations apply. There are no unpaid taxes in any material amount claimed to be due
by the taxing authority of any jurisdiction, and, to the knowledge of the Company, there is no basis for any such claim.

 

3.17 Solvency.
After giving effect to the receipt by the Company of the proceeds from the transactions contemplated by this Agreement (a) the Company’s
fair saleable value of its assets exceeds the amount that will be required to be paid on or in respect of the Company’s existing
debts and other liabilities (including known contingent liabilities) as they mature; and (b) the current cash flow of the Company, together
with the proceeds the Company would receive, were it to liquidate all of its assets, after taking into account all anticipated uses of
the cash, would be sufficient to pay all amounts on or in respect of its debt when such amounts are required to be paid. The Company
does not intend to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash
to be payable on or in respect of its debt). The Company has no knowledge of any facts or circumstances which lead it to believe that
it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction.

 

    	 	16	 

    	 

    

 

3.18 Investment
Company. The Company is not, and is not an Affiliate of, an “investment company” within the meaning of the Investment
Company Act of 1940, as amended.

 

3.19 Certain
Transactions. Other than as disclosed in the most recently filed SEC Documents, there are no contracts, transactions, arrangements
or understandings between the Company or any of its Subsidiaries, on the one hand, and any director, officer or employee thereof on the
other hand, that would be required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC in the Company’s
Form 10-K or proxy statement pertaining to an annual meeting of stockholders.

 

3.20 No
General Solicitation. Neither the Company, nor any of its Affiliates, nor any person acting on its behalf, has engaged in any form
of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Note
pursuant to this Agreement.

 

3.21 Acknowledgment
Regarding each Investor’s Purchase of the Units. The Company’s Board of Directors has approved the execution of the Transaction
Documents and the issuance and sale of the Units, based on its own independent evaluation and determination that the terms of the Transaction
Documents are reasonable and fair to the Company and in the best interests of the Company and its stockholders. The Company is entering
into this Agreement, the Security Agreement, the Company Patent Security Agreement, the Company Trademark Security Agreement and the
Pledge Agreement and is issuing and selling the Units voluntarily and without economic duress. The Company has had independent legal
counsel of its own choosing review the Transaction Documents and advise the Company with respect thereto. The Company acknowledges and
agrees that each Investor is acting solely in the capacity of an arm’s length purchaser with respect to the Units and the transactions
contemplated hereby and that neither such Investor nor any person affiliated with such Investor is acting as a financial advisor to,
or a fiduciary of, the Company (or in any similar capacity) with respect to execution of the Transaction Documents or the issuance of
the Units or any other transaction contemplated hereby.

 

3.22 No
Brokers’, Finders’ or Other Advisory Fees or Commissions. Except as set forth in Schedule 3.22, no brokers, finders
or other similar advisory fees or commissions will be payable by the Company or any Subsidiary or by any of their respective agents with
respect to the issuance of the Note or any of the other transactions contemplated by this Agreement.

 

3.23 OFAC.
None of the Company nor any of the Subsidiaries nor, to the best knowledge of the Company, any director, officer, agent, employee, affiliate
or person acting on behalf of the Company and/or any Subsidiary has been or is currently subject to any United States sanctions administered
by the Office of Foreign Assets Control of the United States Department of the Treasury (“OFAC”); and the Company
will not directly or indirectly use any proceeds received from the Investors, or lend, contribute or otherwise make available such proceeds
to its Subsidiaries or to any affiliated entity, joint venture partner or other person or entity, to finance any investments in, or make
any payments to, any country or person currently subject to any of the sanctions of the United States administered by OFAC.

 

    	 	17	 

    	 

    

 

3.24 No
Foreign Corrupt Practices. None of the Company or any of the Subsidiaries has, directly or indirectly: (a) made or authorized any
contribution, payment or gift of funds or property to any official, employee or agent of any governmental authority of any jurisdiction
except as otherwise permitted under applicable Law; or (b) made any contribution to any candidate for public office, in either case,
where either the payment or the purpose of such contribution, payment or gift was, is, or would be prohibited under the Foreign Corrupt
Practices Act or the rules and regulations promulgated thereunder or under any other legislation of any relevant jurisdiction covering
a similar subject matter applicable to the Company or its Subsidiaries and their respective operations and the Company has instituted
and maintained policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance
with such legislation.

 

3.25 Anti-Money
Laundering. The operations of each of the Company and the Subsidiaries are and have been conducted at all times in compliance with
all applicable anti-money laundering laws, regulations, rules and guidelines in its jurisdiction of incorporation and in each other jurisdiction
in which such entity, as the case may be, conducts business (collectively, the “Money Laundering Laws”) and no action,
suit or proceeding by or before any court or governmental authority involving the Company or its Subsidiaries with respect to any of
the Money Laundering Laws is, to the best knowledge of the Company, pending, threatened or contemplated.

 

3.26 Disclosure.
The Company confirms that neither it, nor to its knowledge, any other Person acting on its behalf has provided any Investor or its agents
or counsel with any information that the Company believes constitutes material, non-public information. The Company understands and confirms
that each Investor will rely on the foregoing representations and covenants in effecting transactions in securities of the Company. All
disclosures provided to any Investor regarding the Company, its business and the transactions contemplated hereby, furnished by or on
behalf of the Company (including the Company’s representations and warranties set forth in this Agreement) are true and correct
in all material respects and do 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.

 

3.27 FDA.
As to each product subject to the jurisdiction of the U.S. Food and Drug Administration (“FDA”) under the Federal
Food, Drug, and Cosmetic Act, as amended, and the regulations thereunder (“FDCA”) that is manufactured, packaged,
labeled, stored, tested, distributed, sold, and/or marketed by the Company (each such product, a “Pharmaceutical Product”),
such Pharmaceutical Product is being manufactured, packaged, labeled, stored, tested, distributed, sold and/or marketed by the Company
in compliance with all applicable requirements under FDCA and similar laws, rules and regulations relating to registration, investigational
use, premarket application approval, good manufacturing practices, good laboratory practices, good clinical practices (GCPs), product
listing, quotas, labeling, advertising, record keeping and filing of reports, except where the failure to be in compliance would not
have or reasonably be expected to result in a Material Adverse Effect. All clinical trials conducted by or on behalf of the Company have
been, and are being, conducted in compliance in all material respects with the applicable requirements of GCPs, informed consent and
all other applicable requirements relating to protection of human subjects specifically contained in 21 CFR Parts 312, 50, 54, 56 and
11. The Company has filed with the FDA or other appropriate governmental entity all required notices, and annual or other reports, including
notices of adverse experiences and reports of serious and unexpected adverse experiences, related to the use of Pharmaceutical Product
in clinical trials. The Company has not received any notice that any Institutional Review Board or Ethics Committee has initiated or
threatened to initiate any action to suspend any clinical trial or otherwise restrict any clinical trial of any Pharmaceutical Product.
There is no pending, completed or, to the Company’s knowledge, threatened, action (including any lawsuit, arbitration, or legal
or administrative or regulatory proceeding, charge, complaint, or investigation) against the Company, and the Company has not received
any notice, warning letter or other communication from the FDA or any other governmental entity, which (i) contests the registration,
approval, uses, distribution, manufacturing or packaging, testing, sale, or the labeling and promotion of any Pharmaceutical Product,
(ii) withdraws its approval of, requests the recall, suspension, or seizure of, or withdraws or orders the withdrawal of advertising
or sales promotional materials relating to, any Pharmaceutical Product, (iii) imposes a clinical hold on any clinical investigation by
the Company, (iv) enjoins production at any facility of the Company or any third party facility where the Pharmaceutical Product is manufactured,
(v) enters or proposes to enter into a consent decree of permanent injunction with the Company, or (vi) otherwise alleges any violation
of any laws, rules or regulations by the Company, and which, either individually or in the aggregate, would have or reasonably be expected
to result in a Material Adverse Effect. The properties, business and operations of the Company have been and are being conducted in all
material respects in accordance with all applicable laws, rules and regulations of the FDA and any other governmental entity. The Company
has not been informed by the FDA or any other governmental entity that the FDA or any other governmental entity will prohibit the testing,
distribution, marketing, sale, license or use of any product proposed to be developed, produced, tested, distributed or marketed by the
Company nor has the FDA or any other governmental entity expressed any concern as to approving for marketing any product being developed
or proposed to be developed by the Company. Neither the Company nor any of its officers, employees, agents or clinical investigators
has committed any act, made any statement or failed to make any statement that would reasonably be expected to provide a basis for the
FDA to invoke its policy with respect to “Fraud, Untrue Statements of Material Facts, Bribery, and Illegal Gratuities” set
forth in 56 Fed. Reg. 46191 (Sept. 10, 1991) and any amendments thereto. Neither the Company nor any officer, employee, independent contractor,
or agent of the Company has been convicted of any crime or engaged in any conduct that has resulted in or would reasonably be expected
to result in (i) debarment under 21 U.S.C. Section 335a or any similar state law or (ii) exclusion under 42 U.S.C. Section 1320a-7 or
any similar state law or regulation.

 

    	 	18	 

    	 

    

 

3.28 Heath
Care Laws. The Company has operated and currently is in compliance in all material respects with all applicable Health Care Laws
(defined herein), including, without limitation, the rules and regulations of the FDA, the U.S. Department of Health and Human Services
Office of Inspector General, the Centers for Medicare & Medicaid Services, the Office for Civil Rights, the Department of Justice
or any other governmental agency or body having jurisdiction over the Company or any of its properties, and has not engaged in activities
which are, as applicable, cause for false claims liability, civil penalties, or mandatory or permissive exclusion from Medicare, Medicaid,
or any other state or federal health care program. For purposes of this Agreement, “Health Care Laws” shall mean the federal
Antikickback Statute (42 U.S.C. § 1320a-7b(b)), the Physician Payment Sunshine Act (42 U.S.C. § 1320a-7h), the civil False
Claims Act (31 U.S.C. §§ 3729 et seq.), the criminal False Claims Act (42 U.S.C. § 1320a-7b(a)), all criminal laws relating
to health care fraud and abuse, including but not limited to 18 U.S.C. Sections 286 and 287, and the health care fraud criminal provisions
under the Health Insurance Portability and Accountability Act of 1996 (42 U.S.C. §1320d et seq.) (“HIPAA”), the exclusion
laws (42 U.S.C. § 1320a-7), the civil monetary penalties law (42 U.S.C. § 1320a-7a), HIPAA, as amended by the Health Information
Technology for Economic and Clinical Health Act (42 U.S.C. §§ 17921 et seq.), the patient privacy, data security and breach
notification provisions under HIPAA, the Federal Food, Drug, and Cosmetic Act (21 U.S.C. §§ 301 et seq.), Medicare (Title XVIII
of the Social Security Act), Medicaid (Title XIX of the Social Security Act), the regulations promulgated pursuant to such laws, and
any other similar local, state or federal law and regulations. The Company has not received any FDA Form 483, notice of adverse finding,
warning letter, untitled letter or other correspondence, communication or notice from the FDA or any other governmental or regulatory
authority alleging or asserting noncompliance with any Health Care Laws applicable to the Company. The Company is not a party to nor
has any ongoing reporting obligations pursuant to any corporate integrity agreements, deferred prosecution agreements, monitoring agreements,
consent decrees, settlement orders, plans of correction or similar agreements with or imposed by any governmental or regulatory authority.
Neither the Company nor any of its employees, officers, directors or, to the Company’s knowledge, consultants has been excluded,
suspended or debarred from participation in any U.S. state or federal health care program or human clinical research or, to the Company’s
knowledge, is subject to a governmental inquiry, investigation, proceeding, or other similar action that could reasonably be expected
to result in debarment, suspension, or exclusion.

 

4. REPRESENTATIONS
AND WARRANTIES OF THE INVESTORS. Each Investor represents and warrants
to the Company as follows:

 

4.1 Organization
and Qualification. Such Investor, if it is not an individual, is duly organized and validly existing in good standing under the laws
of the state of organization.

 

4.2 Authorization;
Enforcement; Compliance with Other Instruments. Such Investor has the requisite power and authority to enter into this Agreement,
the Security Agreement, the Company Patent Security Agreement, the Company Trademark Security Agreement and the Pledge Agreement and
to perform its obligations under the Transaction Documents. The execution and delivery by such Investor of the Transaction Documents
to which it is a party, if and as applicable, have been duly and validly authorized by such Investor’s governing body and no further
consent or authorization is required. The Transaction Documents to which it is a party have been duly and validly executed and delivered
by such Investor and constitute valid and binding obligations of such Investor, enforceable against such Investor in accordance with
their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’ rights and remedies.

 

    	 	19	 

    	 

    

 

4.3 No
Conflicts. The execution, delivery and performance of the Transaction Documents to which it is a party by such Investor and the purchase
of the Units by such Investor will not (a) if and as applicable, conflict with or result in a violation of such Investor’s organizational
documents, (b) conflict with, or constitute a material default (or an event which, with notice or lapse of time or both, would become
a material default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any material agreement,
contract, indenture mortgage, indebtedness or instrument to which such Investor is a party, or (c) violate any Law applicable to such
Investor or by which any of such Investor’s properties or assets are bound or affected. No approval or authorization will be required
from any governmental authority or agency, regulatory or self-regulatory agency or other third party in connection with the purchase
of the Units and the other transactions contemplated by this Agreement.

 

4.4 Investment
Intent; Accredited Investor. Such Investor is purchasing the Units for its own account, for investment purposes, and not with a view
towards distribution. The Investor is an “accredited investor” as such term is defined in Rule 501(a) of Regulation D of
the Securities Act. Such Investor has, by reason of its business and financial experience, such knowledge, sophistication and experience
in financial and business matters and in making investment decisions of this type that it is capable of (a) evaluating the merits and
risks of an investment in the Units and the Investor Shares and making an informed investment decision, (b) protecting its own interests
and (c) bearing the economic risk of such investment for an indefinite period of time.

 

4.5 Opportunity
to Discuss. Such Investor has received all materials relating to the business, finance and operations of the Company and the Subsidiaries
as it has requested and has had an opportunity to discuss the business, management and financial affairs of the Company and the Subsidiaries
with the Company’s management. In making its investment decision, such Investor has relied solely on its own due diligence performed
on the Company by its own representatives.

 

4.6 No
Other Representations. Except for the representations and warranties set forth in this Agreement and in other Transaction Documents,
such Investor makes no other representations or warranties to the Company.

 

5. OTHER
AGREEMENTS OF THE PARTIES.

 

5.1 No
Restrictions on Transfer. The Investor Shares, when issued on or after the 180-day anniversary of a Closing Date, shall be freely
transferrable and any certificates representing such Investor Shares shall not bear any legend, subject to the Investor’s continuing
status as a non-Affiliate.

 

5.2 Furnishing
of Information. As long as an Investor owns the Securities, the Company covenants to timely file (or obtain extensions in respect
thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to
the 1934 Act. As long as an Investor owns Securities, if the Company is not required to file reports pursuant to such laws, it will prepare
and furnish to such Investor and make publicly available in accordance with Rule 144(c) such information as is required for such Investor
to sell Investor Shares under Rule 144. The Company further covenants that it will take such further action as any holder of Securities
may reasonably request, all to the extent required from time to time to enable such Person to sell such Investor Shares without registration
under the Securities Act within the limitation of the exemptions provided by Rule 144 or other applicable exemptions.

 

    	 	20	 

    	 

    

 

5.3 Integration.
The Company shall not, and shall use its best efforts to ensure that no Affiliate of the Company shall, sell, offer for sale or solicit
offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that will be integrated
with the offer or sale of the Securities in a manner that would require the registration under the Securities Act of the sale of the
Securities to an Investor, or that will be integrated with the offer or sale of the Securities for purposes of the rules and regulations
of any Trading Market that would require, under the rules of the Trading Market, the Stockholder Approval.

 

5.4 Notification
of Certain Events. The Company shall give prompt written notice to the Investors of (a) the occurrence or non-occurrence of any Event,
the occurrence or non-occurrence of which would render any representation or warranty of the Company or and Subsidiary contained in this
Agreement or any other Transaction Document, if made on or immediately following the date of such Event, untrue or inaccurate in any
material respect, (b) the occurrence of any Event that, individually or in combination with any other Events, has had or could reasonably
be expected to have a Material Adverse Effect, (c) any failure of the Company or any Subsidiary to comply with or satisfy any covenant
or agreement to be complied with or satisfied by it hereunder or any Event that would otherwise result in the nonfulfillment of any of
the conditions to the Investors’ obligations hereunder, (d) any notice or other communication from any Person alleging that the
consent of such Person is or may be required in connection with the consummation of the transactions contemplated by this Agreement or
any other Transaction Document, or (e) any Proceeding pending or, to the Company’s knowledge, threatened against a party relating
to the transactions contemplated by this Agreement or any other Transaction Document.

 

5.5 Available
Stock. The Company shall at all times keep authorized and reserved and available for issuance, free of preemptive rights, such number
of shares of Common Stock as are issuable upon conversion of the Note and exercise of the Warrants at any time. If the Company determines
at any time that it does not have a sufficient number of authorized shares of Common Stock to reserve and keep available for issuance
as described in this Section 5.5, the Company shall use all commercially reasonable efforts to increase the number of authorized
shares of Common Stock by seeking Stockholder Approval for the authorization of such additional shares.

 

5.6 Use
of Proceeds. The Company will use the proceeds from the sale of the Units, net of expenses, to expand the business development and
sales activities of the Company as well as fund continuing technology development and working capital and general corporate needs.

 

5.7 Reserved.

 

5.8 Intercreditor
Agreement. In the event that the Company or any Subsidiary incurs debt or issues convertible debt securities to a seller as partial
consideration paid to such seller in connection with an Acquisition, unless otherwise waived in writing by a Majority of Interest of
the Investors, as a condition to consummation of such Acquisition, the holder of such debt or convertible debt securities shall enter
into an intercreditor agreement with the Company and the Investors on terms reasonably satisfactory to a Majority of Interest of the
Investors.

 

    	 	21	 

    	 

    

 

5.9 No
Shorting. So long as such Investor continues to hold the Note, the Warrants or any portion thereof, such Investor will comply with
the provisions of Section 9 of the 1934 Act, and the rules promulgated thereunder, with respect to transactions involving the Common
Stock and will not, either directly or indirectly through its Affiliates, principals or advisors, engage in any short sales or other
similar hedging transactions with respect to the Common Stock.

 

5.10 Prohibited
Transactions. The Company hereby covenants and agrees not to enter into any Prohibited Transactions without such Investor’s
prior written consent, until the earlier of (a) thirty (30) days after such time as the Notes have been repaid in full and/or has been
converted into Conversion Shares and (b) the date on which such Investor ceases to hold any shares of Common Stock or have the right
to acquire any shares of Common Stock, including by exercise of the Warrants.

 

5.11 Securities
Laws Disclosure; Publicity. The Company shall, by 9:30 a.m. (New York City time) on the Trading Day immediately following each Closing
Date hereof, issue a press release disclosing the material terms of the transactions contemplated hereby, and shall, within two (2) Business
Days following each Closing Date hereof, file a Current Report on Form 8-K disclosing the material terms of the transactions contemplated
hereby and including this Agreement as an exhibit thereto; provided, that the Company, in each case, must provide a copy of such press
release prior to its release and a copy of such Current Report on Form 8-K prior to its filing to the Investors for review, and the Company
shall incorporate the Investors’ reasonable comments with respect to each. For the avoidance of doubt, this obligation shall apply
for each and every Closing of this Offering and shall include the requirement to file a final Current Report on Form 8-K disclosing the
final Closing and the aggregate amount raised pursuant to this Offering. The Company shall not issue any press release nor otherwise
make any such public statement regarding any Investor or the Transaction Documents without the prior written consent of such Investor,
except if such disclosure is required by law, in which case the Company shall (a) ensure that such disclosure is restricted and limited
in content and scope to the maximum extent permitted by Law to meet the relevant disclosure requirement and (b) provide a copy of the
proposed disclosure to such Investor for review prior to release and the Company shall incorporate the Investors’ reasonable comments.
Following the execution of this Agreement, any Investor and its Affiliates and/or advisors may place announcements on their respective
corporate websites and in financial and other newspapers and publications (including customary “tombstone” advertisements)
describing such Investor’s relationship with the Company under this Agreement and including the name and corporate logo of the
Company. Notwithstanding anything herein to the contrary, to comply with United States Treasury Regulations Section 1.6011-4(b)(3)(i),
each of the Company and such Investor, and each employee, representative or other agent of the Company or such Investor, may disclose
to any and all persons, without limitation of any kind, the U.S. federal and state income tax treatment, and the U.S. federal and state
income tax structure, of the transactions contemplated hereby and all materials of any kind (including opinions or other tax analyses)
that are provided to such party relating to such tax treatment and tax structure insofar as such treatment and/or structure relates to
a U.S. federal or state income tax strategy provided to such recipient.

 

    	 	22	 

    	 

    

 

5.12 Indemnification
of the Investors.

 

(a) The
Company will indemnify and hold each Investor, its Affiliates and their respective directors, officers, managers, shareholders, members,
partners, employees and agents and permitted successors and assigns (each, an “Investor Party”) harmless from any
and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in
settlements, court costs and reasonable attorneys’ fees and costs of investigation and defense (collectively, “Losses”)
that any such Investor Party may suffer or incur as a result of or relating to:

 

(i) any
breach or inaccuracy of any representation, warranty, covenant or agreement made by the Company in any Transaction Document;

 

(ii) any
misrepresentation made by the Company in any Transaction Document or in any SEC Document;

 

(iii) any
omission to state any material fact necessary in order to make the statements made in any SEC Document, in light of the circumstances
under which they were made, not misleading;

 

(iv) any
Proceeding before or by any court, public board, government agency, self-regulatory organization or body based upon, or resulting from
the execution, delivery, performance or enforcement of any of the Transaction Documents or the consummation of the transactions contemplated
thereby, and whether or not such Investor is party thereto by claim, counterclaim, crossclaim, as a defendant or otherwise, or if such
Proceeding is based upon, or results from, any of the items set forth in clauses (i) through (iii) above.

 

(b) In
addition to the indemnity contained herein, the Company will reimburse each Investor Party for its reasonable legal and other expenses
(including the cost of any investigation, preparation and travel in connection therewith) incurred in connection therewith, as such expenses
are incurred.

 

(c) The
provisions of this Section 5.12 shall survive the termination or expiration of this Agreement.

 

5.13 Non-Public
Information. The Company covenants and agrees that neither it nor any other Person acting on its behalf will provide any Investor
or its agents or counsel with any information that the Company believes constitutes material, non-public information. To the extent the
Company provides an Investor with material, non-public information, the Company shall publicly disclose such information within three
(3) Business Days of providing the information to such Investor; provided, however, in the event that such material non-public information
is provided to such Investor pursuant to Section 10, the Company shall publicly disclose such information within twenty (20) Business
Days of providing the information to such Investor. The Company understands and confirms that each Investor shall be relying on the foregoing
representation in effecting transactions in securities of the Company.

 

5.14 [Reserved]

 

    	 	23	 

    	 

    

 

5.15 Listing
of Securities. The Company shall, if and as applicable: (a) in the time and manner required by each Trading Market on which the Common
Stock is listed, prepare and file with such Trading Market an additional shares listing application covering the Investor Shares, (b)
take all steps necessary to cause such shares to be approved for listing on each Trading Market on which the Common Stock is listed as
soon as possible thereafter, (c) provide to the Investors evidence of such listing, and (d) maintain the listing of such shares on each
such Trading Market.

 

5.16 [Reserved]

 

5.17 [Reserved]

 

5.18 Share
Transfer Agent. The Company has informed the Investors of the name of its share transfer agent and represents and warrants that the
transfer agent participates in the Depository Trust Company Fast Automated Securities Transfer program. The Company shall not change
its share transfer agent without the prior written consent of a Majority in Interest of the Investors.

 

5.19 Tax
Treatment. [Reserved].

 

5.20 Set-Off.

 

(a) Each
Investor may set off any of its obligations to the Company (whether or not due for payment), against any of the Company’s obligations
to such Investor (whether or not due for payment) under this Agreement and/or any other Transaction Document.

 

(b) Each
Investor may do anything necessary to effect any set-off undertaken in accordance with this Section 5.20 (including varying the
date for payment of any amount payable by such Investor to the Company).

 

5.21 [Reserved]

 

6. CLOSING
CONDITIONS

 

6.1 Conditions
Precedent to the Obligations of the Investors. The obligation of an Investor to fund the Units at a Closing is subject to the satisfaction
or waiver by an Investor, at or before such Closing, of each of the following conditions:

 

(a) Required
Documentation. The Company must have delivered to the Investors copies of all resolutions duly adopted by the Board of Directors
of the Company, or any such other documentation of the Company approving the Agreement, the Transaction Documents and any of the transactions
contemplated hereby or thereby.

 

(b) Consents
and Permits. The Company must have obtained and delivered to the Investors copies of all necessary permits, approvals, and registrations
necessary to effect this Agreement, the Transaction Documents and any of the transactions contemplated hereby or thereby, including pursuant
to Section 3.14 of this Agreement.

 

    	 	24	 

    	 

    

 

(c) [Reserved]

 

(d) No
Event(s) of Default. The Investors must be of the reasonable opinion that no Event of Default has occurred and no Event of Default
would result from the execution of this Agreement or any of the Transaction Documents or the transactions contemplated hereby or thereby.

 

(e) Representations
and Warranties. The representations and warranties of the Company contained herein shall be true and correct in all material respects
as of the date when made and as of such Closing as though made on and as of such date;

 

(f) Performance.
The Company shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required
by the Transaction Documents to be performed, satisfied or complied with by it at or prior to such Closing;

 

(g) No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents;

 

(h) No
Suspensions of Trading in Common Stock; Listing. Trading in the Common Stock shall not have been suspended by the SEC or any Trading
Market (except for any suspensions of trading of not more than one day on which the Trading Market is open solely to permit dissemination
of material information regarding the Company) at any time since the date of execution of this Agreement, and the Common Stock shall
have been at all times since such date eligible for quotation, or listed for trading, as applicable, on a Trading Market; and

 

(i) Limitation
on Beneficial Ownership. The issuance of the Units shall not cause any Investor Group to become, directly or indirectly, a “beneficial
owner” (within the meaning of Section 13(d) of the 1934 Act and the rules and regulations promulgated thereunder) of a number of
Equity Interests of a class that is registered under the 1934 Act which exceeds the Maximum Percentage of the Equity Interests of such
class that are outstanding at such time.

 

(j) Perfection
of Security Interest. The Investors shall have, to their satisfaction, perfected the security interest granted in the assets and
collateral of the Company and its Subsidiaries described in the Security Agreement, the Company Patent Security Agreement, the Company
Trademark Security Agreement, and the Subsidiary Security Agreement.

 

(k) Funds
Flow Request. The Company shall have delivered to the Investors a flow of funds request, substantially in the form set out in Exhibit
K.

 

    	 	25	 

    	 

    

 

6.2 Conditions
Precedent to the Obligations of the Company. The obligation of the Company to issue the Units at a Closing is subject to the satisfaction
or waiver by the Company, at or before such Closing, of each of the following conditions:

 

(a) Representations
and Warranties. The representations and warranties of each Investor contained herein shall be true and correct in all material respects
as of the date when made and as of such Closing Date as though made on and as of such date;

 

(b) Performance.
Each Investor shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required
by the Transaction Documents to be performed, satisfied or complied with by such Investor at or prior to such Closing; and

 

(c) No
Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated
or endorsed by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions
contemplated by the Transaction Documents.

 

7. EVENTS
OF DEFAULT

 

7.1 Events
of Default. The occurrence of any of the following events shall be an “Event of Default” under this Agreement:

 

(a) an
Event of Default under the Notes or any other Transaction Document;

 

(b) any
of the representations or warranties made by the Company or any Subsidiary or any of their respective agents, officers, directors, employees
or representatives in any Transaction Document or public filing being inaccurate, false or misleading in any material respect, as of
the date as of which it is made or deemed to be made, or any certificate or financial or other written statements furnished by or on
behalf of the Company or any Subsidiary to the Investors or any of its representatives, is inaccurate, false or misleading, in any material
respect, as of the date as of which it is made or deemed to be made, or on any Closing Date; or

 

(c) a
failure by the Company to comply with any of its covenants or agreements set forth in this Agreement, including those set forth in Section
10.

 

7.2 Investor
Right to Investigate an Event of Default. If in reasonable opinion of a Majority of Interest of the Investors, an Event of Default
has occurred, or is or may be continuing:

 

(a) the
Unitholder Representative acting on behalf of the Investors may notify the Company that is wishes to investigate such purported Event
of Default;

 

(b) the
Company shall cooperate with the Unitholder Representative in such investigation;

 

(c) the
Company shall comply with all reasonable requests made by the Unitholder Representative to the Company in connection with any investigation
by the Unitholder Representative and shall (i) provide all information requested by the Unitholder Representative in relation to the
Event of Default to the Unitholder Representative; provided that the Unitholder Representative agrees that any materially price sensitive
information and/or non-public information will be subject to confidentiality, and (ii) provide all such requested information within
three (3) Business Days of such request; and

 

(d) the
Company shall pay all reasonable costs incurred by the Investors, and, if and as applicable, the Unitholder Representative in connection
with any such investigation.

 

7.3 Remedies
Upon an Event of Default

 

(a) If
an Event of Default occurs pursuant to Section 7.1(a), the Investors and the Unitholder Representative, as applicable, shall have
such remedies as are set forth in the Notes.

 

(b) If
an Event of Default occurs pursuant to Section 7.1(b) or Section 7.1(c) and is not remedied within (i) two (2) Business
Days for an Event of Default occurring by the Company’s failure to comply with Section 7.1(c), or (ii) ten (10) Business
Days for an Event of Default occurring pursuant to Section 7.1(b), the Unitholder Representative may declare, by notice to the
Company, effective immediately, all outstanding obligations by the Company under the Transaction Documents to be immediately due and
payable in immediately available funds and the Investors shall have no obligation to consummate any Closing under this Agreement or to
accept the conversion of any Note into Conversion Shares.

 

(c) If
any Event of Default occurs and is not remedied within (i) two (2) Business Days for an Event of Default occurring by the Company’s
failure to comply with Section 7.1(c), or (ii) ten (10) Business Days for an Event of Default occurring pursuant to Section
7.1(b), the Unitholder Representative may, by written notice to the Company, terminate this Agreement effective as of the date set
forth in the Unitholder Representative’s notice.

 

8. TERMINATION

 

8.1 Events
of Termination. This Agreement:

 

(a) may
be terminated:

 

(i) by
the Investors on the occurrence or existence of a Securities Termination Event or a Change of Control;

 

(ii) by
the mutual written consent of the Company and the Investors, at any time;

 

(iii) by
either Party, by written notice to the other Party, effective immediately, if a Closing has not occurred within fifteen (15) Business
Days of the date of this Agreement or such later date as the Company and Placement Agent agree in writing, provided that the right to
terminate this Agreement under this Section 8.1(a)(iii) is not available to any party that is in material breach of or material
default under this Agreement or whose failure to fulfill any obligation under this Agreement has been the principal cause of, or has
resulted in the failure of a Closing to occur; or

 

    	 	26	 

    	 

    

 

(iv) by
the Investors or the Unitholder Representative, as applicable, in accordance with Section 7.3(c).

 

8.2 Automatic
Termination. This Agreement will automatically terminate, without further action by the parties, at the time after a Closing that
the Principal Amount outstanding under the Note and any accrued but unpaid interest is reduced to zero (0), whether as a result of Conversion
or repayment by the Company in accordance with the terms of this Agreement and the Notes and the Investor no longer holds any Investor
Shares.

 

8.3 Effect
of Termination.

 

(a) Subject
to Section 8.3(b), each party’s right of termination under Section 8.1 is in addition to any other rights it may
have under this Agreement or otherwise, and the exercise of a right of termination will not be an election of remedies.

 

(b) If
an Investor terminates this Agreement under Section 8.1(a)(i):

 

(i) such
Investor may declare, by notice to the Company, all outstanding obligations by the Company under the Transaction Documents to be due
and payable (including, without limitation, the immediate repayment of any Principal Amount outstanding under its Note plus accrued but
unpaid interest) without presentment, demand, protest or any other notice of any kind, all of which are expressly waived by the Company,
anything to the contrary contained in this Agreement or in any other Transaction Document notwithstanding; and

 

(ii) the
Company must within five (5) Business Days of such notice being received, pay to such Investor in immediately available funds the outstanding
Principal Amount for the Note plus all accrued interest thereon (if any), unless such Investor terminates this Agreement as a result
of an Event of Default and provided that (A) subsequent to the termination under Section 8.1(a)(i), such Investor is not prohibited
by Law or otherwise from exercising its conversion rights pursuant to this Agreement or the Note or exercise rights pursuant to the Warrants,
(B) such Investor actually exercises its conversion rights under this Agreement or the Note or under the Warrant, and (C) the Company
otherwise complies in all respects with its obligation to issue Conversion Shares in accordance with the Note or issue Warrant Shares
in accordance with the Warrants (which obligation will survive termination).

 

(c) Upon
termination of this Agreement, such Investor will not be required to fund any further amount after the date of termination of the Agreement,
provided that termination will not affect any undischarged obligation under this Agreement, and any obligation of the Company to pay
or repay any amounts owing to such Investor hereunder and which have not been repaid at the time of termination.

 

(d) Nothing
in this Agreement will be deemed to release any party from any liability for any breach by such party of the terms and provisions of
this Agreement or to impair the right of any party to compel specific performance by any other Party of its obligations under this Agreement.

 

    	 	27	 

    	 

    

 

(e) Notwithstanding
anything herein to the contrary, the Company’s covenant under Section 5.8 of this Agreement shall survive the termination
of this Agreement in accordance with its terms.

 

9. REGISTRATION
RIGHTS

 

9.1 The
Investors’ Registration Rights. The Investors’ registration rights are set forth in the Registration Rights Agreement
substantially in the form of Exhibit G.

 

10. RIGHTS
TO FUTURE STOCK ISSUANCES. Subject to the terms and conditions of this
Section 10 and applicable securities laws, if at any time prior to the first anniversary of the initial Closing, the Company proposes
to offer or sell any New Securities, the Company shall first offer the Investors the opportunity to purchase up to one hundred percent
(100%) of such New Securities. The Investors shall be entitled to apportion the right of first offer hereby granted to them in proportions
as their respective ownership percentages of the Units.

 

10.1 The
Company shall give notice (the “Offer Notice”) to the Investors, stating (a) its bona fide intention to offer such
New Securities, (b) the number of such New Securities to be offered, and (c) the price and terms, if any, upon which it proposes to offer
such New Securities.

 

10.2 By
notification to the Company within ten (10) days after the Offer Notice is given, the Investors may elect to purchase or otherwise acquire,
at the price and on the terms specified in the Offer Notice, up to one hundred percent (100%) of such New Securities. The closing of
any sale pursuant to this Section 10 shall occur within the later of ninety (90) days of the date that the Offer Notice is given
and the date of initial sale of New Securities pursuant to Section 10.3.

 

10.3 The
Company may, during the ninety (90) day period following the expiration of the period provided in Section 10.2, offer and sell
the remaining portion of such New Securities to any Person or Persons at a price not less than, and upon terms no more favorable to the
offeree than, those specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities
within such period, or if such agreement is not consummated within thirty (30) days of the execution thereof, the right provided hereunder
shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Investors in accordance with
this Section 10.

 

10.4 The
right of first offer in this Section 10 shall not be applicable to Exempted Securities, or any New Securities registered for sale
under the Securities Act.

    	 	28	 

    	 

    

 

11. GENERAL
PROVISIONS

 

11.1 Fees
and Expenses. Prior to the date of this Agreement, the Company has paid Sullivan & Worcester LLP $0.00. Subject to the limitations
set forth in the Placement Agency Agreement between the Company and the Placement Agent, at each Closing, the Company shall reimburse
the Placement Agent for its due diligence costs and reasonable fees and disbursements of Sullivan & Worcester LLP in connection with
the preparation of the Transaction Documents it being understood that Sullivan & Worcester LLP has not rendered any legal advice
to the Company in connection with the transactions contemplated hereby and that the Company has relied for such matters on the advice
of its own counsel. Except as specified above, each party shall pay the fees and expenses of its advisers, counsel, accountants and other
experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance
of the Transaction Documents. The Company shall pay all stamp and other taxes and duties levied in connection with the sale of the Units.

 

11.2 Notices.
Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is delivered via email
at the email address specified in this Section prior to 5:00 p.m. (New York time) on a Business Day, (b) the next Business Day after
the date of transmission, if such notice or communication is delivered via email at the email address specified in this Section on a
day that is not a Business Day or later than 5:00 p.m. (New York time) on any date and earlier than 11:59 p.m. (New York time) on such
date, (c) the Business Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) upon
actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as
follows:

 

If
to the Company:

 

Marizyme,
Inc.

555
Heritage Drive, Suite 205

Jupiter,
Florida 33458

Attention:
James Sapirstein, Interim CEO

Email:
JSapirstein@marizyme.com

 

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

 

Bevilacqua
PLLC

1050
Connecticut Ave NW #500

Washington,
DC 20036

Attention:
Louis A. Bevilacqua, Esq.

Email:
lou@bevilacquapllc.com

 

If
to the Placement Agent:

 

Univest
Securities LLC

375
Park Avenue, 27th Floor

New
York, NY 10152

Email:

Attention:

 

    	 	29	 

    	 

    

 

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

 

Sullivan
& Worcester LLP

1633
Broadway

New
York, NY 10019

(212)
660-3060

Email:
ddanovitch@sullivanlaw.com

Attention:
David E. Danovitch, Esq.

 

If
to an Investor, to the address set forth on the applicable Investor’s signature page.

 

Or
such other address as may be designated in writing hereafter, in the same manner, by such Person.

 

11.3 Severability.
If any provision of this Agreement is held by a court of competent jurisdiction to be excessive in scope or otherwise invalid or unenforceable,
such provision shall be adjusted rather than voided, if possible, so that it is enforceable to the maximum extent possible, and the validity
and enforceability of the remaining provisions of this Agreement will not in any way be affected or impaired thereby.

 

11.4 Governing
Law. This Agreement shall be governed by and construed in accordance with the Laws of the State of New York, without reference to
principles of conflict of laws or choice of laws.

 

11.5 Jurisdiction
and Venue. Any action, proceeding or claim arising out of, or relating in any way to this Agreement shall be brought and enforced
in the New York Supreme Court, County of New York, or in the United States District Court for the Southern District of New York. The
Company and each Investor irrevocably submit to the jurisdiction of such courts, which jurisdiction shall be exclusive, and hereby waive
any objection to such exclusive jurisdiction or that such courts represent an inconvenient forum. The prevailing party in any such action
shall be entitled to recover its reasonable and documented attorneys’ fees and out-of-pocket expenses relating to such action or
proceeding.

 

11.6 WAIVER
OF RIGHT TO JURY TRIAL. THE COMPANY AND THE INVESTOR HEREBY IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,
ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS.

 

11.7 Survival.
The representations, warranties, agreements and covenants contained herein shall survive the applicable Closing and the delivery of the
Securities.

 

11.8 Entire
Agreement. The Transaction Documents, 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.

 

    	 	30	 

    	 

    

 

11.9 Amendments;
Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the Company and a Majority
in Interest of the Investors. 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 either party to exercise any right hereunder in any manner impair the exercise
of any such right.

 

11.10 Construction.
The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any
of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party. This Agreement shall be construed as if drafted
jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provisions of this Agreement or any of the Transaction Documents.

 

11.11 Successors
and Assigns. This Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the Company and each Investor
and their respective successors and assigns. The Company may not assign this Agreement or any rights or obligations hereunder without
the prior written consent of a Majority in Interest of the Investors. Each Investor may assign any or all of its rights under this Agreement
to any Person to whom such Investor assigns or transfers any Securities, provided such transferee agrees in writing to be bound, with
respect to the transferred Securities, by the provisions hereof that apply to the “Investor” and such transferee is an accredited
investor.

 

11.12 No
Third-Party Beneficiaries. Except for the indemnification provisions set forth herein, this Agreement is intended for the benefit
of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof
be enforced by, any other Person.

 

11.13 Further
Assurances. Each party hereto shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as the other party may reasonably request in
order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

11.14 Counterparts.
This Agreement may be executed in two or more identical counterparts, both of which shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other party. Signature pages delivered by
facsimile or e-mail shall have the same force and effect as an original signature.

 

11.15 Specific
Performance. The Company acknowledges that monetary damages alone would not be adequate compensation to any Investor for a breach
by the Company of this Agreement and such Investor may seek an injunction or an order for specific performance from a court of competent
jurisdiction if (a) the Company fails to comply or threatens not to comply with this Agreement or (b) any Investor has reason to believe
that the Company will not comply with this Agreement.

 

[Signature
Page Follows]

 

    	 	31	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Unit Purchase Agreement as of the date first set forth above.

 

	COMPANY:	 
	 	 	 
	By:	 	 
	Name:	                   	 
	Title:	 	 

 

[Signature Page of Unit Purchase Agreement]

 

    	 	32	 

    	 

    

 

INVESTOR
SIGNATURE PAGE TO THE Marizyme, INC. UNIT PURCHASE AGREEMENT

 

IN
WITNESS WHEREOF, the undersigned has caused this Unit Purchase Agreement to be duly executed by its authorized signatory as of the date
first indicated above.

 

Name
of Investor: [  ]

 

	Signature
    of Authorized Signatory of Investor: 	___________________________________
	Name
    of Authorized Signatory: 	___________________________________
	Title
    of Authorized Signatory: 	___________________________________
	Email
    Address of Authorized Signatory: 	___________________________________
	Facsimile
    Number of Authorized Signatory: 	___________________________________

 

Address
for Notice to Investor:

 

Closing
Subscription Amount: $____________

 

Number
of Class A Warrants _____________

 

Number
of Class B Warrants _____________

 

EIN
Number:

 

    	 	33	 

    	 

    

 

APPENDIX
A

 

SCHEDULE
OF INVESTORS

 

	Name of Investor	 	Initial Units	 	Principal Sum of Note	 	Class A Warrants/Class B Warrants	 	Subscription Amount
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	TOTAL: $

 

    	 	34	 

    	 

    

 

EXHIBIT
A

 

FORM
OF SECURITY AGREEMENT

 

[See
attached]

 

    	 	35	 

    	 

    

 

EXHIBIT
B

 

FORM
OF PLEDGE AGREEMENT

 

[See
attached]

 

    	 	36	 

    	 

    

 

EXHIBIT C

 

FORM
OF COMPANY PATENT SECURITY AGREEMENT

 

[See
attached]

 

    	 	37	 

    	 

    

 

EXHIBIT
D

 

FORM
OF COMPANY TRADEMARK SECURITY AGREEMENT

 

[See
attached]

 

    	 	38	 

    	 

    

 

EXHIBIT
E

 

FORM
OF SUBSIDIARY GUARANTY

 

[See
attached]

 

    	 	39	 

    	 

    

 

EXHIBIT F

 

FORM
OF SUBSIDIARY SECURITY AGREEMENT

 

[See
attached]

 

    	 	40	 

    	 

    

 

EXHIBIT G

 

FORM
OF REGISTRATION RIGHTS AGREEMENT

 

[See
attached]

 

    	 	41	 

    	 

    

 

EXHIBIT
H

 

FORM
OF NOTE

 

[See
attached]

 

    	 	42	 

    	 

    

 

EXHIBIT
I

 

FORM
OF CLASS A WARRANT

 

[See
attached]

 

    	 	43	 

    	 

    

 

FORM
OF CLASS B WARRANT

 

[See
attached]

 

    	 	44	 

    	 

    

 

EXHIBIT
J

 

FORM
OF TRANSFER AGENT INSTRUCTION

 

[To
be provided]

 

    	 	45	 

    	 

    

 

EXHIBIT
K

 

FLOW
OF FUNDS REQUEST

 

Marizyme,
Inc. – Unit Purchase Agreement – Flow of Funds Request

 

In
connection with the Unit Purchase Agreement, dated May [  ], 2021 (the “Agreement”) between Marizyme, Inc. (the
“Company”) and the Investors, the Company irrevocably authorizes the Investors to distribute such funds as set out below,
in the manner set out below, at a Closing.

 

Capitalized
terms used but not otherwise defined in this letter will have the meaning given to such terms in the Agreement.

 

	Item	 	Amount	 
	Closing	 	$	              	 
	Total	 	$		 

 

Please
transfer the net amount of US $___________ due at the Closing, to the following bank account:

 

	Beneficiary
    Bank: 	 
	Swift
    code: 	 
	ABA/Routing
    #: 	 
	Account
    #: 	 
	Beneficiary
    name and address: 	 

 

	Yours
    sincerely, 	 
	 	 
	MARIZYME,
    INC.	 
	 	 	 
	By:
    	 	 
	Name:	 	 
	Title:	                	 

 

    	 	46	 

    	 

    

 

GUARANTORS
SECURITY AGREEMENT

 

GUARANTORS
SECURITY AGREEMENT (this “Agreement”), dated as of May __, 2021, by and among the grantors signatory hereto (individually,
a “Grantor” and collectively, the “Grantors”) and the secured parties signatory hereto (collectively,
the “Secured Party”).

 

WHEREAS,
Marizyme, Inc., a Nevada corporation (the “Borrower”) is the holder of 100% of the equity interests of each Grantor;
and

 

WHEREAS,
(a) the Borrower and the Secured Party have entered into that certain Unit Purchase Agreement dated as of the date hereof (as amended
and in effect from time to time, the “UPA”) and (b) the Borrower has issued to the Secured Party those certain Units
and those certain Secured Convertible Promissory Notes dated as of the date hereof (as amended and in effect from time to time, the “Notes”);

 

WHEREAS,
in connection with the UPA and the Notes, each Grantor has entered into that certain Guaranty dated as of the date hereof in favor of
the Secured Party (as amended and in effect from time to time, the “Guaranty”) pursuant to which each Grantor has
guaranteed all of the obligations of the Borrower owing to the Secured Party under the UPA, the Notes and certain other related agreements;
and

 

WHEREAS,
it is a condition precedent to the Secured Party agreeing to make loans or otherwise extend credit to the Borrower and purchase the Units
under the UPA and the Notes that each Grantor execute and deliver to the Secured Party a security agreement in substantially the form
hereof; and

 

WHEREAS,
each Grantor wishes to grant security interests in favor of the Secured Party as herein provided;

 

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

 

1. Definitions.
All capitalized terms used herein without definitions shall have the respective meanings provided therefor in the UPA. All terms defined
in the Uniform Commercial Code of the State (as hereinafter defined) and used herein shall have the same definitions herein as specified
therein, however, if a term is defined in Article 9 of the Uniform Commercial Code of the State differently than in another Article of
the Uniform Commercial Code of the State, the term has the meaning specified in Article 9, and the following terms shall have the following
meanings:

 

“Event
of Default” means the occurrence of any “Event of Default” under and as defined in each of the UPA and the Notes,
or the failure of each Grantor to comply with any term or covenant of any Transaction Document (including this Agreement) to which it
is a party.

 

    	 	47	 

    	 

    

 

“Lien”
means any mortgage, charge, pledge, hypothecation, security interest, assignment by way of security, lien (statutory or otherwise), encumbrance,
conditional sale agreement, capital lease, financing lease, deposit arrangement, title retention agreement, and any other agreement,
trust or arrangement that in substance secures payment or performance of an obligation.

 

“Obligations”
means, collectively, (a) all debts, liabilities and obligations, present or future, direct or indirect, absolute or contingent, matured
or unmatured, at any time or from time to time due or accruing due and owing by or otherwise payable by each Grantor or the Borrower
to the Secured Party in any currency, under, in connection with or pursuant to any Transaction Document (including, without limitation,
the UPA, the Notes, the Guaranty and this Agreement), and whether incurred by such Grantor or the Borrower, as the case may be, alone
or jointly with another or others and whether as principal, guarantor or surety and in whatever name or style and (b) all expenses, costs
and charges incurred by or on behalf of the Secured Party in connection with any Transaction Document (including, without limitation,
the UPA, the Notes, the Guaranty, the Security Agreement and this Agreement) or the Collateral, including all legal fees, court costs,
receiver’s or agent’s remuneration and other expenses of taking possession of, repairing, protecting, insuring, preparing
for disposition, realizing, collecting, selling, transferring, delivering or obtaining payment for the Collateral, and of taking, defending
or participating in any action or proceeding in connection with any of the foregoing matters or otherwise in connection with the Secured
Party’s interest in any Collateral, whether or not directly relating to the enforcement of this Agreement or any other Transaction
Document.

 

“Permitted
Lien” means any of the following: (a) mechanics and materialman Liens and other statutory Liens (including Liens for taxes,
fees, assessments and other governmental charges or levies) in respect of any amount (i) which is not at the time overdue or (ii) which
may be overdue but the validity of which is being contested at the time in good faith by appropriate proceedings, in each case so long
as the holder of such Lien has not taken any action to foreclose or otherwise exercise any remedies with respect to such Lien; and (b)
Liens which are permitted in writing by the Secured Party in its sole and absolute discretion.

 

“State”
means the State of New York.

 

2. Grant
of Security Interest.

 

2.1. Grant;
Collateral Description. Each Grantor hereby grants

 

2.1.1. to
the Secured Party, to secure the payment and performance in full of all of the Obligations, a security interest in and pledges and assigns
to the Secured Party the following properties, assets and rights of such Grantor, wherever located, whether now owned or hereafter acquired
or arising, and all proceeds and products thereof (all of the same being hereinafter called the “Collateral”): all
personal and fixture property of every kind and nature including all goods (including inventory, equipment and any accessions thereto),
instruments (including promissory notes), documents (whether tangible or electronic), accounts (including health-care-insurance receivables),
chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit rights (whether or not the letter of credit is evidenced
by a writing), commercial tort claims, securities and all other investment property, supporting obligations, any other contract rights
or rights to the payment of money, insurance claims and proceeds, and all general intangibles (including all payment intangibles).

 

    	 	48	 

    	 

    

 

2.1.2. Each
Grantor’s obligations under this Agreement shall be limited to the actual dollar amount of the Obligations. Any actions taken by
the Secured Party or its agent(s) under the provisions of this Agreement upon the occurrence and during the continuance of an Event of
Default, including with respect to the authorization to sell, transfer, pledge, make any agreement with respect to or otherwise dispose
of or deal with any of the Collateral, shall be limited to the actual dollar amount of the Obligations.

 

2.2. Commercial
Tort Claims. The Secured Party acknowledges that the attachment of its security interest in any commercial tort claim as original
collateral is subject to such Grantor’s compliance with §4.7.

 

3. Authorization
to File Financing Statements. Each Grantor hereby irrevocably authorizes
the Secured Party at any time and from time to time to file in any filing office in any Uniform Commercial Code jurisdiction any initial
financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets of such Grantor or words of similar effect,
regardless of whether any particular asset comprised in the Collateral falls within the scope of Article 9 of the Uniform Commercial
Code of the State or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater detail, and (b) provide any other
information required by part 5 of Article 9 of the Uniform Commercial Code of the State or such other jurisdiction for the sufficiency
or filing office acceptance of any financing statement or amendment, including whether such Grantor is an organization, the type of organization
and any organizational identification number issued to such Grantor. Each Grantor agrees to furnish any such information to the Secured
Party promptly upon the Secured Party’s reasonable request.

 

4. Other
Actions. Further to insure the attachment, perfection and first
priority of, and the ability of the Secured Party to enforce, the Secured Party’s security interest in the Collateral, each Grantor
agrees, in each case at such Grantor’s expense, to take the following actions with respect to the following Collateral and without
limitation on such Grantor’s other obligations contained in this Agreement:

 

4.1. Promissory
Notes and Tangible Chattel Paper. If a Grantor shall, now or at any time hereafter, hold or acquire any promissory notes
or tangible chattel paper with an aggregate value for all such promissory notes or tangible chattel paper in excess of $50,000, such
Grantor shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment
duly executed in blank as the Secured Party may from time to time specify.

 

    	 	49	 

    	 

    

 

4.2. Deposit
Accounts. For each deposit account that a Grantor, now or at any time hereafter, opens or maintains such Grantor shall, at the
Secured Party’s request and option, pursuant to an agreement in form and substance satisfactory to the Secured Party, either (a)
cause the depositary bank to agree to comply without further consent of such Grantor, at any time with instructions from the Secured
Party to such depositary bank directing the disposition of funds from time to time credited to such deposit account, or (b) arrange for
the Secured Party to become the customer of the depositary bank with respect to the deposit account, with such Grantor being permitted,
only with the consent of the Secured Party, to exercise rights to withdraw funds from such deposit account. The Secured Party agrees
with such Grantor that the Secured Party shall not give any such instructions or withhold any withdrawal rights from such Grantor, unless
an Event of Default has occurred and is continuing, or, if effect were given to any withdrawal not otherwise permitted by the Transaction
Documents, would occur. The provisions of this paragraph shall not apply to any deposit accounts specially and exclusively used for payroll,
payroll taxes and other employee wage and benefit payments to or for the benefit of such Grantor’s salaried employees.

 

4.3. Investment
Property. If a Grantor shall, now or at any time hereafter, hold or acquire any certificated securities, such Grantor
shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or assignment
duly executed in blank as the Secured Party may from time to time specify. If any securities now or hereafter acquired by such Grantor
are uncertificated and are issued to such Grantor or its nominee directly by the issuer thereof, such Grantor shall promptly (but in
any event within two Business Days) notify the Secured Party thereof and, at the Secured Party’s request and option, pursuant to
an agreement in form and substance satisfactory to the Secured Party, either (a) cause the issuer to agree to comply without further
consent of such Grantor or such nominee, at any time with instructions from the Secured Party as to such securities, or (b) arrange for
the Secured Party to become the registered owner of the securities. If any securities, whether certificated or uncertificated, or other
investment property now or hereafter acquired by such Grantor are held by such Grantor or its nominee through a securities intermediary
or commodity intermediary, such Grantor shall promptly (but in any event within two Business Days) notify the Secured Party thereof and,
at the Secured Party’s request and option, pursuant to an agreement in form and substance satisfactory to the Secured Party, either
(i) cause such securities intermediary or (as the case may be) commodity intermediary to agree to comply, in each case without further
consent of such Grantor or such nominee, at any time with entitlement orders or other instructions from the Secured Party to such securities
intermediary as to such securities or other investment property, or (as the case may be) to apply any value distributed on account of
any commodity contract as directed by the Secured Party to such commodity intermediary, or (ii) in the case of financial assets or other
investment property held through a securities intermediary, arrange for the Secured Party to become the entitlement holder with respect
to such investment property, with such Grantor being permitted, only with the consent of the Secured Party, to exercise rights to withdraw
or otherwise deal with such investment property. The Secured Party agrees with such Grantor that the Secured Party shall not give any
such entitlement orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and shall
not withhold its consent to the exercise of any withdrawal or dealing rights by such Grantor, unless an Event of Default has occurred
and is continuing, or, after giving effect to any such investment and withdrawal rights not otherwise permitted by the Transaction Documents,
would occur. The provisions of this paragraph shall not apply to any financial assets credited to a securities account for which the
Secured Party is the securities intermediary.

 

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4.4. Collateral
in the Possession of a Bailee. If any Collateral with an aggregate value in excess of $100,000 is, now or at any time
hereafter, in the possession of a bailee, such Grantor shall promptly notify the Secured Party thereof and, at the Secured Party’s
reasonable request and option, shall promptly obtain an acknowledgement from the bailee, in form and substance satisfactory to the Secured
Party, that the bailee holds such Collateral for the benefit of the Secured Party and such bailee’s agreement to comply, without
further consent of such Grantor, at any time with instructions of the Secured Party as to such Collateral.

 

4.5. Electronic
Chattel Paper, Electronic Documents and Transferable Records. If a Grantor, now or at any time hereafter, holds or acquires an
interest in any Collateral that is electronic chattel paper, any electronic document or any “transferable record,” as that
term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the Uniform
Electronic Transactions Act as in effect in any relevant jurisdiction, such Grantor shall promptly notify the Secured Party thereof and,
at the request and option of the Secured Party, shall take such action as the Secured Party may reasonably request to vest in the Secured
Party control, under §9-105 of the Uniform Commercial Code of the State or any other relevant jurisdiction, of such electronic chattel
paper, control, under §7-106 of the Uniform Commercial Code of the State or any other relevant jurisdiction, of such electronic
document or control, under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be,
§16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Secured Party
agrees with such Grantor that the Secured Party will arrange, pursuant to procedures satisfactory to the Secured Party and so long as
such procedures will not result in the Secured Party’s loss of control, for such Grantor to make alterations to the electronic
chattel paper, electronic document or transferable record permitted under UCC §9-105, UCC §7-106, or, as the case may be, Section
201 of the federal Electronic Signatures in Global and National Commerce Act or §16 of the Uniform Electronic Transactions Act for
a party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking
into account any action by such Grantor with respect to such electronic chattel paper, electronic document or transferable record. The
provisions of this §4.5 relating to electronic documents and “control” under UCC §7-106 apply in the event that
the 2003 revisions to Article 7, with amendments to Article 9, of the Uniform Commercial Code, in substantially the form approved by
the American Law Institute and the National Conference of Commissioners on Uniform State Laws, are now or hereafter adopted and become
effective in the State or in any other relevant jurisdiction.

 

4.6. Letter-of-Credit
Rights. If a Grantor is, now or at any time hereafter, a beneficiary under a letter of credit with a stated amount in excess
of $25,000, or if such Grantor is a beneficiary under letters of credit not assigned to the Secured Party with an aggregate stated amount
in excess of $50,000, such Grantor shall promptly notify the Secured Party thereof and, at the request and option of the Secured Party,
such Grantor shall, pursuant to an agreement in form and substance satisfactory to the Secured Party, either (a) arrange for the issuer
and any confirmer of such letter of credit to consent to an assignment to the Secured Party of the proceeds of the letter of credit or
(b) arrange for the Secured Party to become the transferee beneficiary of the letter of credit.

 

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4.7. Commercial
Tort Claims. If a Grantor shall, now or at any time hereafter, hold or acquire a commercial tort claim, such Grantor shall
promptly notify the Secured Party in a writing signed by such Grantor of the particulars thereof and grant to the Secured Party in such
writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form
and substance satisfactory to the Secured Party.

 

4.8. Other
Actions as to any and all Collateral. Each Grantor further agrees, upon the request of the Secured Party and at the Secured Party’s
option, to take any and all other actions as the Secured Party may determine to be necessary or useful for the attachment, perfection
and first priority of, and the ability of the Secured Party to enforce, the Secured Party’s security interest in any and all of
the Collateral, including (a) executing, delivering and, where appropriate, filing financing statements and amendments relating thereto
under the Uniform Commercial Code of any relevant jurisdiction, to the extent, if any, that such Grantor’s signature thereon is
required therefor, (b) causing the Secured Party’s name to be noted as secured party on any certificate of title for a titled good
if such notation is a condition to attachment, perfection or priority of, or ability of the Secured Party to enforce, the Secured Party’s
security interest in such Collateral, (c) complying with any provision of any statute, regulation or treaty of the United States as to
any Collateral if compliance with such provision is a condition to attachment, perfection or priority of, or ability of the Secured Party
to enforce, the Secured Party’s security interest in such Collateral, (d) obtaining governmental and other third party waivers,
consents and approvals, in form and substance satisfactory to the Secured Party, including any consent of any licensor, lessor or other
person obligated on Collateral, (e) obtaining waivers from mortgagees and landlords in form and substance satisfactory to the Secured
Party and (f) taking all actions under any earlier versions of the Uniform Commercial Code or under any other law, as reasonably determined
by the Secured Party to be applicable in any relevant Uniform Commercial Code or other jurisdiction, including any foreign jurisdiction.

 

4.9. Relation
to other Security Documents. Concurrently herewith each Grantor is also executing and delivering to the Secured Party the Trademark
Security Agreement pursuant to which such Grantor is assigning to the Secured Party certain Collateral consisting of trademarks, service
marks and trademark and service mark rights, together with the goodwill appurtenant thereto. The provisions of the Trademark Security
Agreement are supplemental to the provisions of this Agreement and nothing contained in the Trademark Security Agreement shall derogate
from any of the rights or remedies of the Secured Party hereunder. Nor will anything contained in the Trademark Security Agreement be
deemed to prevent or extend the time of attachment or perfection of any security interest in such Collateral created hereby.

 

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5. Representations
and Warranties Concerning each Grantor’s Legal Status. Each
Grantor has, on the date hereof, delivered to the Secured Party a certificate signed by such Grantor and entitled “Perfection Certificate”
(the “Perfection Certificate”). such Grantor represents and warrants to the Secured Party as follows: as of the date
hereof (a) such Grantor’s exact legal name is that indicated on the Perfection Certificate and on the signature page hereof, (b)
such Grantor is an organization of the type, and is organized in the jurisdiction, set forth in the Perfection Certificate, (c) the Perfection
Certificate accurately sets forth such Grantor’s organizational identification number or accurately states that such Grantor has
none, (d) the Perfection Certificate accurately sets forth such Grantor’s place of business or, if more than one, its chief executive
office, as well as such Grantor’s mailing address, if different, (e) all other information set forth on the Perfection Certificate
pertaining to such Grantor is accurate and complete, and (f) there has been no change in any of such information since the date on which
the Perfection Certificate was signed by such Grantor.

 

6. Covenants
Concerning each Grantor’s Legal Status. Each Grantor covenants
with the Secured Party as follows: (a) without providing at least thirty (30) days prior written notice to the Secured Party, such Grantor
will not change its name, its place of business or, if more than one, chief executive office, or its mailing address or organizational
identification number if it has one, (b) if such Grantor does not have an organizational identification number and later obtains one,
such Grantor will forthwith notify the Secured Party of such organizational identification number, and (c) such Grantor will not change
its type of organization, jurisdiction of organization or other legal structure.

 

7. Representations
and Warranties Concerning Collateral, Etc. Each Grantor further
represents and warrants to the Secured Party as follows: (a) such Grantor is the owner of or has other rights in or power to transfer
the Collateral, free from any right or claim of any person or any adverse lien, except for the security interest created by this Agreement
and the Permitted Liens, (b) none of the account debtors or other persons obligated on any of the Collateral is a governmental authority
covered by the Federal Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (c) such
Grantor holds no commercial tort claim except as indicated on such Grantor’s Perfection Certificate, (d) all other information
set forth on such Grantor’s Perfection Certificate pertaining to the Collateral is accurate and complete, and (e) there has been
no change in any of such information since the date on which such Grantor’s Perfection Certificate was signed by such Grantor.

 

8. Covenants
Concerning Collateral, Etc. Each Grantor further covenants with
the Secured Party as follows: (a) other than inventory sold in the ordinary course of business consistent with past practices, the Collateral,
to the extent not delivered to the Secured Party pursuant to §4, will be kept at those locations listed on the Perfection Certificate
and such Grantor will not remove the Collateral from such locations, without providing at least thirty (30) days prior written notice
to the Secured Party, (b) except for the security interest herein granted, such Grantor shall be the owner of or have other rights in
the Collateral free from any right or claim of any other person or any Lien (other than Permitted Liens), and such Grantor shall defend
the same against all claims and demands of all persons at any time claiming the same or any interests therein adverse to the Secured
Party, (c) other than in favor of the Secured Party, such Grantor shall not pledge, mortgage or create, or suffer to exist any right
of any person in or claim by any person to the Collateral, or any Lien in the Collateral in favor of any person, or become bound (as
provided in Section 9-203(d) of the Uniform Commercial Code of the State or any other relevant jurisdiction or otherwise) by a security
agreement in favor of any person as secured party, (d) such Grantor will permit the Secured Party, or its designee, to inspect the Collateral
at any reasonable time, wherever located, (e) such Grantor will pay promptly when due all taxes, assessments, governmental charges and
levies upon the Collateral or incurred in connection with the use or operation of the Collateral or incurred in connection with this
Agreement, and (f) such Grantor will not sell or otherwise dispose, or offer to sell or otherwise dispose, of the Collateral, or any
interest therein except for, so long as no Event of Default has occurred and is continuing, dispositions of obsolete or worn-out property,
the granting of non-exclusive licenses in the ordinary course of business, and the sale of inventory in the ordinary course of business
consistent with past practices.

 

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9. Collateral
Protection Expenses; Preservation of Collateral.

 

9.1. Expenses
Incurred by Secured Party. In the Secured Party’s discretion, the Secured Party may discharge taxes and other encumbrances
at any time levied or placed on any of the Collateral, and pay any necessary filing fees or insurance premiums, in each case if a Grantor
fails to do so. Each Grantor agrees to reimburse the Secured Party on demand for all expenditures so made. The Secured Party shall have
no obligation to any Grantor to make any such expenditures, nor shall the making thereof be construed as a waiver or cure of any Event
of Default.

 

9.2. Secured
Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, each Grantor shall remain obligated and
liable under each contract or agreement comprised in the Collateral to be observed or performed by such Grantor thereunder. The Secured
Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or
the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner
to perform any of the obligations of such Grantor under or pursuant to any such contract or agreement, to make inquiry as to the nature
or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance
by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to
collect the payment of any amounts which may have been assigned to the Secured Party or to which the Secured Party may be entitled at
any time or times. The Secured Party’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral
in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral
in the same manner as the Secured Party deals with similar property for its own account.

 

10. Securities
and Deposits. The Secured Party may at any time following and during
the continuance of a payment default or an Event of Default, at its option, transfer to itself or any nominee any securities constituting
Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. Whether or not any
Obligations are due, the Secured Party may, following and during the continuance of a payment default or an Event of Default demand,
sue for, collect, or make any settlement or compromise which it deems desirable with respect to the Collateral. Regardless of the adequacy
of Collateral or any other security for the Obligations, any deposits or other sums at any time credited by or due from the Secured Party
to such Grantor may at any time be applied to or set off against any of the Obligations then due and owing.

 

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11. Notification
to Account Debtors and Other Persons Obligated on Collateral. If
an Event of Default shall have occurred and be continuing:

 

(a)
each Grantor shall, at the request and option of the Secured Party, notify account debtors and other persons obligated on any of the
Collateral of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral
and that payment thereof is to be made directly to the Secured Party or to any financial institution designated by the Secured Party
as the Secured Party’s agent therefor;

 

(b)
the Secured Party may itself, without notice to or demand upon any Grantor, so notify account debtors and other persons obligated on
Collateral;

 

(c)
after the making of such a request or the giving of any such notification, such Grantor shall hold any proceeds of collection of accounts,
chattel paper, general intangibles, instruments and other Collateral received by such Grantor as trustee for the Secured Party, for the
benefit of the Secured Party, without commingling the same with other funds of such Grantor and shall turn the same over to the Secured
Party in the identical form received, together with any necessary endorsements or assignments; and

 

(d) the
Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral
and received by the Secured Party to the payment of the Obligations, such proceeds to be immediately credited after final payment in
cash or other immediately available funds of the items giving rise to them.

 

12. Power
of Attorney.

 

12.1. Appointment
and Powers of Secured Party. Each Grantor hereby irrevocably constitutes and appoints the Secured Party and any officer or agent
thereof, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and authority in the place
and stead of such Grantor or in the Secured Party’s own name, for the purpose of carrying out the terms of this Agreement, to take
any and all appropriate action and to execute any and all documents and instruments that may be necessary or useful to accomplish the
purposes of this Agreement and, without limiting the generality of the foregoing, hereby gives said attorneys the power and right, on
behalf of such Grantor, without notice to or assent by such Grantor, to do the following:

 

(a) upon
the occurrence and during the continuance of an Event of Default, generally to sell, transfer, pledge, make any agreement with respect
to or otherwise dispose of or deal with any of the Collateral in such manner as is consistent with the Uniform Commercial Code of the
State or any other relevant jurisdiction and as fully and completely as though the Secured Party were the absolute owner thereof for
all purposes, and to do, at such Grantor’s expense, at any time, or from time to time, all acts and things which the Secured Party
deems necessary or useful to protect, preserve or realize upon the Collateral and the Secured Party’s security interest therein,
in order to effect the intent of this Agreement, all no less fully and effectively as such Grantor might do, including (i) upon written
notice to such Grantor, the exercise of voting rights with respect to voting securities, which rights may be exercised, if the Secured
Party so elects, with a view to causing the liquidation of assets of the issuer of any such securities and (ii) the execution, delivery
and recording, in connection with any sale or other disposition of any Collateral, of the endorsements, assignments or other instruments
of conveyance or transfer with respect to such Collateral; and

 

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(b) to
the extent that any Grantor’s authorization given in §3 is not sufficient, to file such financing statements with respect
hereto, with or without such Grantor’s signature, or a photocopy of this Agreement in substitution for a financing statement, as
the Secured Party may deem appropriate and to execute in such Grantor’s name such financing statements and amendments thereto and
continuation statements which may require such Grantor’s signature.

 

12.2. Ratification
by each Grantor. To the extent permitted by law, each Grantor hereby ratifies all that said attorneys shall lawfully do or cause
to be done by virtue hereof. This power of attorney is a power coupled with an interest and is irrevocable.

 

12.3. No
Duty on Secured Party. The powers conferred on the Secured Party hereunder are solely to protect the interests of the Secured
Party in the Collateral and shall not impose any duty upon the Secured Party to exercise any such powers. The Secured Party shall be
accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its
officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act, except for the Secured Party’s
own gross negligence or willful misconduct.

 

13. Rights
and Remedies.

 

13.1. General.
If an Event of Default shall have occurred and be continuing, the Secured Party, without any other notice to or demand upon any Grantor,
shall have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and remedies, the rights and remedies
of a secured party under the Uniform Commercial Code of the State or any other relevant jurisdiction and any additional rights and remedies
as may be provided to a secured party in any jurisdiction in which Collateral is located, including the right to take possession of the
Collateral, and for that purpose the Secured Party may, so far as each Grantor can give authority therefor, enter upon any premises on
which the Collateral may be situated and remove the same therefrom. The Secured Party may in its discretion require such Grantor to assemble
all or any part of the Collateral at such location or locations within the jurisdiction(s) of such Grantor’s principal office(s)
or at such other locations as the Secured Party may reasonably designate. Unless the Collateral is perishable or threatens to decline
speedily in value or is of a type customarily sold on a recognized market, the Secured Party shall give to such Grantor at least ten
(10) Business Days prior written notice of the time and place of any public sale of Collateral or of the time after which any private
sale or any other intended disposition is to be made. Each Grantor hereby acknowledges that ten (10) Business Days prior written notice
of such sale or sales shall be reasonable notice. In addition, each Grantor waives any and all rights that it may have to a judicial
hearing in advance of the enforcement of any of the Secured Party’s rights and remedies hereunder, including its right following
an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies with respect thereto.

 

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14. Standards
for Exercising Rights and Remedies. To the extent that applicable
law imposes duties on the Secured Party to exercise remedies in a commercially reasonable manner, each Grantor acknowledges and agrees
that it is not commercially unreasonable for the Secured Party (a) to fail to incur expenses reasonably deemed significant by the Secured
Party to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other
finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain
or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral
to be collected or disposed of, (c) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral
or to fail to remove Liens on or any adverse claims against Collateral, (d) to exercise collection remedies against account debtors and
other persons obligated on the Collateral directly or through the use of collection agencies and other collection specialists, (e) to
advertise dispositions of the Collateral through publications or media of general circulation, whether or not the Collateral is of a
specialized nature, (f) to contact other persons, whether or not in the same business as such Grantor, for expressions of interest in
acquiring all or any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition of the
Collateral, whether or not the collateral is of a specialized nature, (h) to dispose of the Collateral by utilizing Internet sites that
provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that
match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, (j) to disclaim disposition warranties,
(k) to purchase insurance or credit enhancements to insure the Secured Party against risks of loss, collection or disposition of the
Collateral or to provide to the Secured Party a guaranteed return from the collection or disposition of such Collateral, or (l) to the
extent deemed appropriate by the Secured Party, to obtain the services of brokers, investment bankers, consultants and other professionals
to assist the Secured Party in the collection or disposition of any of the Collateral. Each Grantor acknowledges that the purpose of
this §14 is to provide non-exhaustive indications of what actions or omissions by the Secured Party would fulfill the Secured Party’s
duties under the Uniform Commercial Code of the State or any other relevant jurisdiction in the Secured Party’s exercise of remedies
against the Collateral and that other actions or omissions by the Secured Party shall not be deemed to fail to fulfill such duties solely
on account of not being indicated in this §14. Without limitation upon the foregoing, nothing contained in this §14 shall be
construed to grant any rights to any Grantor or to impose any duties on the Secured Party that would not have been granted or imposed
by this Agreement or by applicable law in the absence of this §14. Subject to the foregoing, the Secured Party agrees to use its
commercially reasonable efforts to foreclose only on such Collateral that may be required at any time to cure an Event of Default, which
has occurred and is continuing (inclusive of the Secured Party’s right to foreclose upon the acceleration of all the Obligations
under any of the Transaction Documents.) Provided, however, each Grantor acknowledges that there may be proceeds from any such foreclosure
in excess of the Obligations due to the nature of the Collateral foreclosed on or the net proceeds received by the Secured Party for
the disposition of any particular portion of the Collateral in any auction or other sale from any third party.

 

15. No
Waiver by Secured Party, etc. The Secured Party shall not be deemed
to have waived any of its rights and remedies in respect of the Obligations or the Collateral unless such waiver shall be in writing
and signed by the Secured Party. No delay or omission on the part of the Secured Party in exercising any right or remedy shall operate
as a waiver of such right or remedy or any other right or remedy. A waiver on any one occasion shall not be construed as a bar to or
waiver of any right or remedy on any future occasion. All rights and remedies of the Secured Party with respect to the Obligations or
the Collateral, whether evidenced hereby or by any other instrument or papers, shall be cumulative and may be exercised singularly, alternatively,
successively or concurrently at such time or at such times as the Secured Party deems expedient.

 

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16. Suretyship
Waivers by each Grantor. Each Grantor waives demand, notice, protest,
notice of acceptance of this Agreement, notice of loans made, credit extended, Collateral received or delivered or other action taken
in reliance hereon and all other demands and notices of any description. With respect to both the Obligations and the Collateral, each
Grantor assents to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release
of or failure to perfect any security interest in any such Collateral, to the addition or release of any party or person primarily or
secondarily liable, to the acceptance of partial payment thereon and the settlement, compromising or adjusting of any thereof, all in
such manner and at such time or times as the Secured Party may deem advisable. The Secured Party shall have no duty as to the collection
or protection of the Collateral or any income therefrom, the preservation of rights against prior parties, or the preservation of any
rights pertaining thereto beyond the safe custody thereof as set forth in §9.2. Each Grantor further waives any and all other suretyship
defenses.

 

17. Marshaling.
The Secured Party shall not be required to marshal any present or future collateral security (including but not limited to the Collateral)
for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security or other assurances of
payment in any particular order, and all of the rights and remedies of the Secured Party hereunder and of the Secured Party in respect
of such collateral security and other assurances of payment shall be cumulative and in addition to all other rights and remedies, however
existing or arising. To the extent that it lawfully may, each Grantor hereby agrees that it will not invoke any law relating to the marshaling
of collateral which might cause delay in or impede the enforcement of the Secured Party’s rights and remedies under this Agreement
or under any other instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by
which any of the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, each Grantor
hereby irrevocably waives the benefits of all such laws.

 

18. Proceeds
of Dispositions; Expenses. Each Grantor shall pay to the Secured
Party on demand any and all expenses, including attorneys’ fees and disbursements, incurred or paid by the Secured Party in protecting
or preserving the Secured Party’s rights and remedies under or in respect of any of the Obligations or any of the Collateral and
any such expenses incurred in releasing any security interest granted hereunder and, in addition, each Grantor shall pay to the Secured
Party on demand any and all expenses, including attorneys’ fees and disbursements, incurred or paid by the Secured Party in enforcing
the Secured Party’s rights and remedies under or in respect of any of the Obligations or any of the Collateral. After deducting
all of said expenses, the residue of any proceeds of collection or sale or other disposition of Collateral shall, to the extent actually
received in cash, be applied to the payment of the Obligations in such order or preference as is provided in the UPA, proper allowance
and provision being made for any Obligations not then due. Upon the final payment and satisfaction in full of all of the Obligations
and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any excess
shall be returned to the Grantors. In the absence of final payment and satisfaction in full of all of the Obligations, the Grantors shall
remain liable for any deficiency.

 

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19. Overdue
Amounts. Until paid, all amounts due and payable by any Grantor
hereunder shall be a debt secured by the Collateral and shall bear, whether before or after judgment, interest at the rate of interest
for overdue principal set forth in the Transaction Documents.

 

20. Governing
Law; Consent to Jurisdiction. This
Agreement IS A contract UNDER the laws of the state of NEW YORK and shall for all purposes be construed in accordance with and governed
by the laws of SAID state of NEW YORK. eACH Grantor and THE SECURED PARTY EACH agree that any suit for the enforcement of this agreement
or any other action brought by SUCH PERSON arising hereunder or in any way related to this agreement SHALL BE BROUGHT IN
THE COURTS OF THE STATE OF NEW YORK IN THE BOROUGH OF MANHATTAN OR ANY FEDERAL COURT SITTING THEREIN AND CONSENTS TO THE NONEXCLUSIVE
JURISDICTION OF SUCH COURT AND SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON SUCH PERSON BY MAIL AT THE ADDRESS SPECIFIED ON THE
SIGNATURE PAGE OF EACH PARTY HERETO. eACH Grantor hereby waives any objection that it may now
or hereafter have to the venue of any suit BROUGHT IN the state of new york or any court SITTING THEREIN or that A suit BROUGHT THEREIN
is brought in an inconvenient court.

 

21. Waiver
of Jury Trial. THE COMPANY AND THE SECURED PARTY WAIVES ITS RIGHT
TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY RIGHTS OR OBLIGATIONS
HEREUNDER OR THE PERFORMANCE OR ENFORCEMENT OF ANY SUCH RIGHTS OR OBLIGATIONS. Except as prohibited by law, each Grantor waives any right
which it may have to claim or recover in any litigation referred to in the preceding sentence any special, exemplary, punitive or consequential
damages or any damages other than, or in addition to, actual damages. Each Grantor (a) certifies that neither the Secured Party nor any
representative, agent or attorney of the Secured Party has represented, expressly or otherwise, that the Secured Party would not, in
the event of litigation, seek to enforce the foregoing waivers or other waivers contained in this Agreement and (b) acknowledges that,
in entering into this Agreement and any other Transaction Document to which the Secured Party is a party, the Secured Party is relying
upon, among other things, the waivers and certifications contained in this §21.

 

22. Notices.
All notices, requests and other communications hereunder shall be made in the manner set forth in the Guaranty.

 

23. Miscellaneous.
The headings of each section of this Agreement are for convenience only and shall not define or limit the provisions thereof. This Agreement
and all rights and obligations hereunder shall be binding upon each Grantor and its successors and assigns, and shall inure to the benefit
of the Secured Party and its successors and assigns. If any term of this Agreement shall be held to be invalid, illegal or unenforceable,
the validity of all other terms hereof shall in no way be affected thereby, and this Agreement shall be construed and be enforceable
as if such invalid, illegal or unenforceable term had not been included herein. Each Grantor acknowledges receipt of a copy of this Agreement.

 

[Signature
pages to follow]

 

    	 	59	 

    	 

    

 

IN
WITNESS WHEREOF, intending to be legally bound, each Grantor has caused this Agreement to be duly executed as of the date first above
written.

 

	 	GRANTORS:
	 	 	 
	 	[___________]
	 	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 

 

	 	[___________]
	 	 	 
	 	By:	              
	 	Name:	 
	 	Title:	 

 

	 	[___________]
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:	 

 

    	 	60	 

    	 

    

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                            )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of [________] and that said
instrument was signed and sealed on behalf of said limited liability company by authority of its __________________, and said ______________
acknowledged said instrument to be the free act and deed of said corporation/limited liability company.

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                           )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of [________] and that said
instrument was signed and sealed on behalf of said limited liability company by authority of its __________________, and said ______________
acknowledged said instrument to be the free act and deed of said corporation/limited liability company.

 

______________________________

(official signature and seal of notary)

 

My
commission expires:

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                            )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of [________] and that said
instrument was signed and sealed on behalf of said limited liability company by authority of its __________________, and said ______________
acknowledged said instrument to be the free act and deed of said corporation/limited liability company.

 

______________________________

(official signature and seal of notary)

 

My
commission expires:

 

    	 	61	 

    	 

    

 

Signature
Pages of the Secured Parties

 

Accepted
and agreed to:

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	62	 

    	 

    

 

PATENT
SECURITY AGREEMENT

 

This
PATENT SECURITY AGREEMENT (this “Patent Security Agreement”) is entered into as of May __, 2021 by and among Marizyme,
Inc., a Nevada corporation (the “Grantor”) and the secured parties signatory hereto (collectively,
the “Secured Party”).

 

WHEREAS,
(a) the Grantor and the Secured Party have entered into that certain Unit Purchase Agreement dated as of the date hereof (as amended
and in effect from time to time, the “UPA”) and (b) the Grantor has issued to the Secured Party those certain Units
and those certain Secured Convertible Promissory Notes dated as of the date hereof (as amended and in effect from time to time, collectively,
the “Notes”);

 

WHEREAS,
in connection with the UPA and the Notes, the Grantor has entered into that certain Security Agreement dated as of the date hereof (as
amended and in effect from time to time, the “Security Agreement”) with the Secured Party pursuant to which the Grantor
has granted a lien in favor of the Secured Party in all of the Grantor’s assets (including the Patent Collateral) to secure its
obligations under the Guaranty; and

 

WHEREAS,
in connection with the Security Agreement, the Grantor has agreed to execute and deliver this Patent Security Agreement in order to record
the security interest granted to the Secured Party with the United States Patent and Trademark Office;

 

NOW,
THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Grantor hereby agrees as follows:

SECTION
1. Defined Terms. Unless otherwise defined herein, capitalized terms defined in the Security Agreement and used herein have the
meaning given to them in the Security Agreement. The term “Patents” means, collectively, (a) all of the patent and
patent applications, whether United States or foreign, that are owned by the Grantor, or in which the Grantor has any right, title or
interest, now or in the future, including but not limited to (i) the patents and patent applications listed on Schedule I hereto (as
the same may be amended pursuant hereto from time to time), (ii) all letters patent of the United States or any other country, and all
applications for letters patent of the United States or any other country; (iii) all re-issues, continuations, divisions, continuations-in-part,
renewals or extensions thereof; (iv) the inventions disclosed or claimed therein, including the right to make, use, practice and/or sell
(or license or otherwise transfer or dispose of) the inventions disclosed or claimed therein; and (v) the right (but not the obligation)
to make and prosecute applications for such patents, (b) all past, present or future rights in, to and associated with the foregoing
throughout the world, whether arising under federal law, state law, common law, foreign law or otherwise, including the following: all
such rights arising out of or associated with the registrations of the foregoing items set forth in clause (a), the right (but not the
obligation) to register claims under any state, federal or foreign patent law or regulation; the right (but not the obligation) to sue
or bring opposition or cancellation proceedings in the name of the Grantor or the Secured Party for any and all past, present and future
infringements or dilution of or any other damages or injury to the foregoing or any associated goodwill, and the rights to damages or
profits due or accrued arising out of or in connection with any such past, present or future infringement, dilution, damage or injury;
and (c) any license rights related to the foregoing.

 

    	 	63	 

    	 

    

 

SECTION
2. Grant of Security Interest in Patent Collateral.

 

2.1
The Grantor hereby pledges, collaterally assigns and grants to the Secured Party to secure the prompt and complete payment and performance
of the Obligations, a security interest (referred to in this Patent Security Agreement as the “Security Interest”)
in all of the Grantor’s right, title and interest in, to and under the following, whether now owned or hereafter acquired or arising
(collectively, the “Patent Collateral”):

 

	 	(a)	all
    of its Patents and licenses with respect to Patents to which it is a party including those referred to on Schedule I;
	 	 	 
	 	(b)	each
    license with respect to Patents; and
	 	 	 
	 	(c)	all
    products and proceeds (as that term is defined in the UCC) of the foregoing, including any claim by the Grantor against third parties
    for past, present or future (i) infringement or dilution of any Patent or any Patents exclusively licensed under any license, including
    right to receive any damages, or (ii) right to receive license fees, royalties, and other compensation under any license with respect
    to Patents.

 

2.2
Subject to Section 14 of the Security Agreement, the Grantor’s obligations under this agreement shall be limited to the actual
dollar amount of the Obligations. Any actions taken by the Secured Party or its agent(s) under the provisions of this Patent Security
Agreement upon the occurrence and during the continuance of an Event of Default, including with respect to the authorization to sell,
transfer, pledge, make any agreement with respect to or otherwise dispose of or deal with any of the Collateral, shall be limited to
the actual dollar amount of the Obligations.

 

SECTION
3. Security for Obligations. This Patent Security Agreement and the Security Interest created hereby secures the payment and performance
of the Obligations, whether now existing or arising hereafter. Without limiting the generality of the foregoing, this Patent Security
Agreement secures the payment of all amounts which constitute part of the Obligations and would be owed by the Grantor to the Secured
Party, whether or not they are unenforceable or not allowable due to the existence of an insolvency proceeding involving the Grantor.

 

    	 	64	 

    	 

    

 

SECTION
4. Security Agreement. The Security Interest granted pursuant to this Patent Security Agreement is granted in conjunction with
the security interests granted to the Secured Party pursuant to the Security Agreement. The Grantor hereby acknowledges and affirms that
the rights and remedies of the Secured Party with respect to the Security Interest in the Patent Collateral made and granted hereby are
more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set
forth herein. To the extent there is any inconsistency between this Patent Security Agreement and the Security Agreement, the Security
Agreement shall control.

 

SECTION
5. Authorization to Supplement. If the Grantor shall obtain rights to any new Patents, the provisions of this Patent Security
Agreement shall automatically apply thereto. The Grantor hereby authorizes the Secured Party unilaterally to modify this Patent Security
Agreement by amending Schedule I to include any such new patent rights of the Grantor. Notwithstanding the foregoing, no failure
to so modify this Patent Security Agreement or amend Schedule I shall in any way affect, invalidate or detract from the Secured
Party’s continuing security interest in all Collateral (including the Patent Collateral), whether or not listed on Schedule
I.

 

SECTION
6. Counterparts. This Patent Security Agreement may be executed in any number of counterparts, all of which shall constitute one
and the same instrument, and any party hereto may execute this Patent Security Agreement by signing and delivering one or more counterparts.

 

SECTION
7. Governing Law. This Patent Security Agreement and any claims, controversy, dispute or cause of action (whether in contract
or tort or otherwise) based upon, arising out of or relating to this Patent Security Agreement and the transactions contemplated hereby
shall be governed by, and construed in accordance with, the law of the State of New York.

 

[signature
pages follow]

 

    	 	65	 

    	 

    

 

IN
WITNESS WHEREOF, the Grantor has caused this Patent Security Agreement to be executed and delivered by its duly authorized offer as of
the date first set forth above.

 

	GRANTOR:	MARIZYME, INC.
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                            )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of Marizyme, Inc. and that
said instrument was signed and sealed on behalf of said corporation by authority of its Board of Directors, and said ______________ acknowledged
said instrument to be the free act and deed of said corporation.

 

____________________________

(official signature and seal of notary)

 

My
commission expires:

 

[Signature
Pages of the Secured Parties follow]

 

    	 	66	 

    	 

    

 

Signature
Pages of the Secured Parties

 

Accepted
and agreed to:

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	67	 

    	 

    

 

SCHEDULE
I 

to

PATENT
SECURITY AGREEMENT 

PATENT
REGISTRATIONS AND PATENT APPLICATIONS

 

    	 	68	 

    	 

    

 

Section
1.02 REGISTRATION RIGHTS AGREEMENT

 

This
Registration Rights Agreement (this “Agreement”) is made and entered into as of May [__],
2021 among Marizyme, Inc., a Nevada corporation (the “Company”), and
each of the several purchasers signatory hereto (each such purchaser, a “Purchaser” and, collectively, the “Purchasers”).

 

WHEREAS,
in connection with that certain Unit Purchase Agreement of even date herewith by and between the Company and the Purchasers (the “Purchase
Agreement”), the Purchasers purchased from the Company, severally and not jointly, an aggregate of up to 4,000,000 units (the
“Units”) comprised of, (i) a 10% secured convertible promissory note (the “Note”) convertible into
the Common Stock of the Company (par value $0.001) at an initial price per share of $2.50; (ii) a warrant to purchase one share of Common
Stock, $0.001 par value per share (the “Class A Warrant”); and (iii) a second warrant to purchase a share of Common
Stock, $0.001 par value per share (the “Class B Warrant” and, together with the Notes, the Class A Warrant, and the
Investor Shares (as herein defined) collectively referred to as the “Securities”); and

 

WHEREAS,
to induce the Purchasers to purchase the Securities, the Company has agreed to grant the Purchasers certain rights with respect to registration
of Registrable Securities (as defined below) under the Securities Act pursuant to the terms of this Agreement.

 

NOW,
THEREFORE, the Company and each Purchaser hereby agree as follows:

 

1.
Definitions.

 

Capitalized
terms used and not otherwise defined herein that are defined in the Purchase Agreement shall have the meanings given such terms in the
Purchase Agreement. As used in this Agreement, the following terms shall have the following meanings:

 

“Advice”
shall have the meaning set forth in Section 6(d).

 

“Blue
Sky Application” shall have the meaning set forth in Section 5.

 

“Cut-Off
Date” shall have the meaning set forth in Section 2(a).

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, the 120th calendar
day following the Filing Date and with respect to any additional Registration Statements which may be required pursuant to Section 2(c)
or Section 3(c), the 75th calendar day following the date on which an additional Registration Statement is required to be
filed hereunder; provided, however, that in the event the Company is notified by the Commission that one or more of the
above Registration Statements will not be reviewed or is no longer subject to further review and comments, the Effectiveness Date as
to such Registration Statement shall be the 10th calendar day following the date on which the Company is so notified if such
date precedes the dates otherwise required above (unless the Company is required to update its financial statements prior to requesting
acceleration of such Registration Statement, which will require the Company to file an amendment to such Registration Statement, in which
case the Company shall file any necessary amendment to such Registration Statement and request effectiveness thereof as soon as reasonably
practicable and in no event later than the 120th calendar day following the Filing Date); provided, further,
if such Effectiveness Date falls on a day that is not a Trading Day, then the Effectiveness Date shall be the next succeeding Trading
Day.

 

    	 	69	 

    	 

    

 

“Effectiveness
Period” shall have the meaning set forth in Section 2(a).

 

“Event”
shall have the meaning set forth in Section 2(d).

 

“Event
Date” shall have the meaning set forth in Section 2(d).

 

“Filing
Date” means, with respect to the Initial Registration Statement required hereunder, the 45th calendar day following
the final Closing Date and, with respect to any additional Registration Statements which may be required pursuant to Section 2(c) or
Section 3(c), the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement
related to the Registrable Securities.

 

“Holder”
or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities.

 

“Indemnified
Party” shall have the meaning set forth in Section 5(c).

 

“Indemnifying
Party” shall have the meaning set forth in Section 5(c).

 

“Initial
Registration Statement” means the initial Registration Statement filed pursuant to this Agreement.

 

“Losses”
shall have the meaning set forth in Section 5(a).

 

“Plan
of Distribution” shall have the meaning set forth in Section 2(a).

 

“Prospectus”
means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any information
previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated by the
Commission pursuant to the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to
the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference
in such Prospectus.

 

“Registrable
Securities” means, as of any date of determination, (a) all of the Conversion Shares then issued and issuable upon conversion
in full of the Notes (assuming on such date the Notes are converted in full without regard to any conversion limitations therein), (b)
all shares of Common Stock issued and issuable as interest or principal on the Notes assuming all permissible interest and principal
payments are made in shares of Common Stock and the Notes are held until maturity, (c) any additional shares of Common Stock issued and
issuable in connection with any anti-dilution provisions in the Notes (without giving effect to any limitations on conversion set forth
in the Notes), (d) all of the Warrant Shares then issued and issuable upon exercise in full of the Warrants (assuming on such date the
Warrants are exercised in full without regard to any exercise limitations therein), (e) any additional shares of Common Stock issued
and issuable in connection with any anti-dilution provisions in the Warrants (without giving effect to any limitations on exercise set
forth in the Warrants), and (f) any securities issued or then issuable upon any stock split, dividend or other distribution, recapitalization
or similar event with respect to the foregoing; provided, however, that any such Registrable Securities shall cease to be Registrable
Securities (and the Company shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder
with respect thereto) for so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared
effective by the Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance
with such effective Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144, or
(c) such securities become eligible for resale without volume or manner-of-sale restrictions and without the requirement for the Company
to be in compliance with the current public information requirement under Rule 144, as determined by counsel to the Company pursuant
to a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer Agent and the affected Holders (assuming
that such securities, any securities upon the exercise, conversion or exchange of or as a dividend upon which such securities were issued,
or any securities issuable upon the exercise, conversion or exchange of, or as a dividend upon such securities, were at no time during
the prior 90 days held by any Affiliate of the Company), as reasonably determined by the Company, upon the advice of counsel to the Company.
For the avoidance of doubt, any such Registrable Securities shall cease to be Registrable Securities after the Cut-Off Date.

 

    	 	70	 

    	 

    

 

“Registration
Statement” means any registration statement required to be filed hereunder pursuant to Section 2(a) and any additional registration
statements contemplated by Section 2(c) or Section 3(c), including (in each case) the Prospectus, amendments and supplements to any such
registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated
by reference or deemed to be incorporated by reference in any such registration statement.

 

“Rule
415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Rule
424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted
from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect
as such Rule.

 

“Selling
Stockholder Questionnaire” shall have the meaning set forth in Section 3(a).

 

“SEC
Guidance” means (i) any publicly available written or oral guidance of the Commission staff, or any comments, requirements
or requests of the Commission staff and (ii) the Securities Act.

 

2.
Shelf Registration.

 

(a)
On or prior to each Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering the resale
of all of the Registrable Securities that are not then registered on an effective Registration Statement for an offering to be made on
a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-3 (except if the Company is not
then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate
form in accordance herewith, subject to the provisions of Section 2(e)) and shall contain (unless otherwise directed by at least 51%
in interest of the Holders) substantially the “Plan of Distribution” attached hereto as Annex A. Subject to
the terms of this Agreement, the Company shall use its reasonable best efforts to cause a Registration Statement filed under this Agreement
(including, without limitation, under Section 3(c)) to be declared effective under the Securities Act as promptly as possible after the
filing thereof, but in any event no later than the applicable Effectiveness Date, and shall use its reasonable best efforts to keep such
Registration Statement continuously effective under the Securities Act until the first to occur of: (A) the date that is one (1) year
from the date the Registration Statement is declared effective by the Commission (the “Cut-Off Date”) and (B) the
date that all Registrable Securities covered by such Registration Statement (i) have been sold, thereunder or pursuant to Rule 144, or
(ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule 144 and without the requirement for the Company to be
in compliance with the current public information requirement under Rule 144, as determined by the counsel to the Company pursuant to
a written opinion letter which shall be obtained at the company’s expense, to such effect, addressed, delivered and acceptable
to the Transfer Agent and the affected Holders (assuming that such securities, any securities upon the exercise, conversion or exchange
of or as a dividend upon which such securities were issued, or any securities issuable upon the exercise, conversion or exchange of,
or as a dividend upon such securities, were at no time held by any Affiliate of the Company) (the “Effectiveness Period”).
The Company shall telephonically request effectiveness of a Registration Statement as of 5:00 p.m. Eastern Time on a Trading Day. The
Company shall immediately notify the Holders via facsimile or by e-mail of the effectiveness of a Registration Statement on the same
Trading Day that the Company telephonically confirms effectiveness with the Commission, which shall be the date requested for effectiveness
of such Registration Statement. The Company shall, by 9:30 a.m. Eastern Time on the Trading Day after the effective date of such Registration
Statement, file a final Prospectus with the Commission as required by Rule 424. Failure to so notify the Holder within one (1) Trading
Day of such notification of effectiveness or failure to file a final Prospectus as foresaid shall be deemed an Event under Section 2(d).

 

    	 	71	 

    	 

    

 

(b)
Notwithstanding the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of the Registrable
Securities covered by such Registration Statement cannot, as a result of the application of Rule 415, be registered for resale as a secondary
offering on a single registration statement, the Company agrees to promptly inform each of the Holders thereof and use its commercially
reasonable best efforts to file amendments to the Initial Registration Statement as required by the Commission, covering the maximum
number of Registrable Securities permitted to be registered by the Commission, on Form S-3 or such other form available to register for
resale the Registrable Securities as a secondary offering, subject to the provisions of Section 2(e); provided, however,
that prior to filing such amendment, the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration
of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation
612.09.

 

(c)
Notwithstanding any other provision of this Agreement and subject to the payment of liquidated damages pursuant to Section 2(d), if the
Commission or any SEC Guidance sets forth a limitation on the number of Registrable Securities permitted to be registered on a particular
Registration Statement as a secondary offering (and notwithstanding that the Company used diligent efforts to advocate with the Commission
for the registration of all or a greater portion of Registrable Securities), unless otherwise directed in writing by a Holder as to its
Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will be reduced as follows:

 

	 	(i)	First, the Company shall reduce or eliminate any securities
to be included by any Person other than a Holder;

 

    	 	72	 

    	 

    

 

	 	(ii)	Second, the Company shall
  reduce Registrable Securities represented by Warrant Shares (applied, in the case that some Warrant Shares may be registered, to the
  Holders on a pro rata basis based on the total number of unregistered Warrant Shares held by such Holders, collectively); and

 

	 	(iii)	third, the Company shall
  reduce Registrable Securities represented by Conversion Shares (applied, in the case that some Conversion Shares may be registered,
  to the Holders on a pro rata basis based on the total number of unregistered Conversion Shares held by such Holders, collectively).

 

In
the event of a cutback hereunder, the Company shall give the Holder at least five (5) Trading Days prior written notice along with the
calculations as to such Holder’s allotment. In the event the Company amends the Initial Registration Statement in accordance with
the foregoing, the Company will use its reasonable best efforts to file with the Commission, as promptly as allowed by the Commission
or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form S-3 or
such other form available to register for resale those Registrable Securities that were not registered for resale on the Initial Registration
Statement, as amended.

 

(d)
If: (i) the Initial Registration Statement is not filed on or prior to its Filing Date (if the Company files the Initial Registration
Statement without affording the Holders the opportunity to review and comment on the same as required by Section 3(a) herein or without
providing the Notice with notice of such failure, the Company shall be deemed to have not satisfied this clause (i)), or (ii) the Company
fails to file with the Commission a request for acceleration of a Registration Statement in accordance with Rule 461 promulgated by the
Commission pursuant to the Securities Act, within five Trading Days of the date that the Company is notified (orally or in writing, whichever
is earlier) by the Commission that such Registration Statement will not be “reviewed” or will not be subject to further review,
or (iii) prior to the effective date of a Registration Statement, the Company fails to file a pre-effective amendment and otherwise respond
in writing to comments made by the Commission in respect of such Registration Statement within thirty (30) calendar days after the receipt
of comments by or notice from the Commission that such amendment is required in order for such Registration Statement to be declared
effective, or (iv) a Registration Statement registering for resale all of the Registrable Securities is not declared effective by the
Commission by the Effectiveness Date of the Initial Registration Statement, or (v) after the effective date of a Registration Statement,
such Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities included in such
Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell such Registrable Securities,
for more than ten (10) consecutive calendar days or more than an aggregate of fifteen (15) calendar days (which need not be consecutive
calendar days) during any 12-month period (any such failure or breach being referred to as an “Event”, and for purposes
of clauses (i) and (iv), the date on which such Event occurs, and for purpose of clause (ii) the date on which such five (5) Trading
Day period is exceeded, and for purpose of clause (iii) the date which such thirty (30) calendar day period is exceeded, and for purpose
of clause (v) the date on which such ten (10) or fifteen (15) calendar day period, as applicable, is exceeded being referred to as an
“Event Date”), then, in addition to any other rights the Holders may have hereunder or under applicable law, on each
such Event Date and on each thirty (30) calendar day anniversary of each such Event Date (if the applicable Event shall not have been
cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as partial liquidated
damages and not as a penalty, equal to 1.0% of the aggregate purchase price paid by such Holder pursuant to the Purchase Agreement; provided,
however, that the Company shall not be required to make any payments pursuant to this Section 2(d) if an Event occurred at such
time that all Registrable Securities are eligible for resale pursuant to Rule 144 (without volume restrictions or current public information
requirements) promulgated by the Commission pursuant to the Securities Act and the Company has complied with the conditions set forth
in section 2(a), as applicable; provided, further, that the Company shall not be required to make any payments pursuant
to this Section 2(d) with respect to any Registrable Securities the Company is unable to register due to limits imposed by the Commission’s
interpretation of Rule 415 under the Securities Act after compliance with section 2(b) . The parties agree that the maximum aggregate
liquidated damages payable to a Holder under this Agreement shall be 6.0% of the aggregate Subscription Amount paid by such Holder pursuant
to the Purchase Agreement. If the Company fails to pay any partial liquidated damages pursuant to this Section in full within seven (7)
days after the date payable, the Company will pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that is
permitted to be paid by applicable law) to the Holder, accruing daily from the date such partial liquidated damages are due until such
amounts, plus all such interest thereon, are paid in full. The partial liquidated damages pursuant to the terms hereof shall apply on
a daily pro rata basis for any portion of a thirty (30) calendar day period prior to the cure of an Event.

 

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(e)
If Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) register the
resale of the Registrable Securities on another appropriate form and (ii) undertake to register the Registrable Securities on Form S-3
as soon as such form is available, provided that the Company shall maintain the effectiveness of the Registration Statement then
in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by
the Commission.

 

3.
Registration Procedures.

 

In
connection with the Company’s registration obligations hereunder, the Company shall:

 

(a)
Not less than one (1) Trading Day prior to the filing of each Registration Statement and not less than one (1) Trading Day prior to the
filing of any related Prospectus or any amendment or supplement thereto (including any document that would be incorporated or deemed
to be incorporated therein by reference), the Company shall (i) furnish to the Holders, copies of all such documents proposed to be filed,
which documents (other than those incorporated or deemed to be incorporated by reference) will be subject to the review of such Holders,
and (ii) cause its officers and directors, counsel and independent registered public accountants to respond to such inquiries as shall
be necessary, in the reasonable opinion of respective counsel to each Holder, to conduct a reasonable investigation within the meaning
of the Securities Act. Notwithstanding the above, the Company shall not be obligated to provide the Holders advance copies of any universal
shelf registration statement registering securities in addition to those required hereunder, or any Prospectus prepared thereto. The
Company shall not file a Registration Statement or any such Prospectus or any amendments or supplements thereto to which the Holders
of 67% or more of the Registrable Securities shall reasonably object in good faith, provided that, the Company is notified of such objection
in writing no later than five (5) Trading Days after the Holders have been so furnished copies of a Registration Statement or one (1)
Trading Day after the Holders have been so furnished copies of any related Prospectus or amendments or supplements thereto. Each Holder
agrees to furnish to the Company a completed questionnaire in the form attached to the Purchase Agreement (a “Selling Stockholder
Questionnaire”) on a date that is not less than two (2) Trading Days prior to the Filing Date or by the end of the fourth (4th)
Trading Day following the date on which the Holders, receives draft materials in accordance with this Section.

 

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(b)
(i) Prepare and file with the Commission such amendments, including post-effective amendments, to a Registration Statement and the Prospectus
used in connection therewith as may be necessary to keep a Registration Statement continuously effective as to the applicable Registrable
Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration Statements in order to
register for resale under the Securities Act all of the Registrable Securities, (ii) cause the related Prospectus to be amended or supplemented
by any required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant
to Rule 424, (iii) respond as promptly as reasonably possible to any comments received from the Commission with respect to a Registration
Statement or any amendment thereto and provide as promptly as reasonably possible to the Holders true and complete copies of all correspondence
from and to the Commission relating to a Registration Statement (provided that, the Company shall excise any information contained therein
which would constitute material non-public information regarding the Company or any of its Subsidiaries), and (iv) comply in all material
respects with the applicable provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable
Securities covered by a Registration Statement during the applicable period in accordance (subject to the terms of this Agreement) with
the intended methods of disposition by the Holders thereof set forth in such Registration Statement as so amended or in such Prospectus
as so supplemented.

 

(c)
If during the Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the number of shares of Common Stock
then registered in a Registration Statement, then the Company shall file as soon as reasonably practicable, but in any case, prior to
the applicable Filing Date, an additional Registration Statement covering the resale by the Holders of not less than the number of such
Registrable Securities.

 

(d)
Notify the Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses (iii) through (vi) hereof, be accompanied
by an instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably possible
(and, in the case of (i)(A) below, not less than one (1) Trading Day prior to such filing) and (if requested by any such Person) confirm
such notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective
amendment to a Registration Statement is proposed to be filed, (B) when the Commission notifies the Company whether there will be a “review”
of such Registration Statement and whenever the Commission comments in writing on such Registration Statement, and (C) with respect to
a Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the Commission or
any other federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional
information, (iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending
the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings
for that purpose, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding
for such purpose, (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration
Statement ineligible for inclusion therein or any statement made in a Registration Statement or Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to a Registration Statement,
Prospectus or other documents so that, in the case of a Registration Statement or the Prospectus, as the case may be, it will not contain
any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading, and (vi) of the occurrence or existence of any pending
corporate development with respect to the Company that the Company believes may be material and that, in the determination of the Company,
makes it not in the best interest of the Company to allow continued availability of a Registration Statement or Prospectus, provided,
however, in no event shall any such notice contain any information which would constitute material, non-public information regarding
the Company or any of its Subsidiaries.

 

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(e)
Use its reasonable best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order stopping or suspending
the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of
the Registrable Securities for sale in any jurisdiction, at the earliest practicable moment.

 

(f)
Furnish to the Holders, without charge, at least one conformed copy of each such Registration Statement and each amendment thereto, including
financial statements and schedules, all documents incorporated or deemed to be incorporated therein by reference to the extent requested
by such Person, and all exhibits to the extent requested by such Person (including those previously furnished or incorporated by reference)
promptly after the filing of such documents with the Commission; provided, that any such item which is available on the EDGAR system
(or successor thereto) need not be furnished in physical form.

 

(g)
Subject to the terms of this Agreement, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto
by each of the selling Holders in connection with the offering and sale of the Registrable Securities covered by such Prospectus and
any amendment or supplement thereto, except after the giving of any notice pursuant to Section 3(d).

 

(h)
The Company shall cooperate with any broker-dealer through which a Holder proposes to resell its Registrable Securities in effecting
a filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 5110, as requested by any such Holder, and the Company
shall pay the filing fee required by such filing within two (2) Business Days of request therefor.

 

(i)
Prior to any resale of Registrable Securities by a Holder, use its commercially reasonable best efforts to register or qualify or cooperate
with the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification) of
such Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within the United
States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption therefrom) effective during
the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such jurisdictions
of the Registrable Securities covered by each Registration Statement; provided, that, the Company shall not be required to qualify generally
to do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction
where it is not then so subject or file a general consent to service of process in any such jurisdiction.

 

(j)
If requested by a Holder, cooperate with such Holder to facilitate the timely preparation and delivery of certificates representing Registrable
Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates shall be free, to the extent permitted
by the Purchase Agreement and applicable law, of all restrictive legends, and to enable such Registrable Securities to be in such denominations
and registered in such names as any such Holder may request.

 

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(k)
Upon the occurrence of any event contemplated by Section 3(d), as promptly as reasonably possible under the circumstances taking into
account the Company’s good faith assessment of any adverse consequences to the Company and its stockholders of the premature disclosure
of such event, prepare a supplement or amendment, including a post-effective amendment, to a Registration Statement or a supplement to
the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, and file any other required document
so that, as thereafter delivered, neither a Registration Statement nor such Prospectus will contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading. If the Company notifies the Holders in accordance
with clauses (iii) through (vi) of Section 3(d) above to suspend the use of any Prospectus until the requisite changes to such Prospectus
have been made, then the Holders shall suspend use of such Prospectus. The Company will use its reasonable best efforts to ensure that
the use of the Prospectus may be resumed as promptly as is practicable. The Company shall be entitled to exercise its right under this
Section 3(k) to suspend the availability of a Registration Statement and Prospectus, subject to the payment of partial liquidated damages
otherwise required pursuant to Section 2(d), for a period not to exceed 60 calendar days (which need not be consecutive days) in any
12-month period.

 

(l)
Comply with all applicable rules and regulations of the Commission.

 

(m)
The Company shall use its reasonable best efforts to obtain and maintain eligibility for use of Form S-3 (or any successor form thereto)
for the registration of the resale of Registrable Securities.

 

(n)
The Company may require each selling Holder to furnish to the Company a certified statement as to the number of shares of Common Stock
beneficially owned by such Holder and, if required by the Commission, the natural persons thereof that have voting and dispositive control
over the shares. During any periods that the Company is unable to meet its obligations hereunder with respect to the registration of
the Registrable Securities solely because any Holder fails to furnish such information within three Trading Days of the Company’s
request, any liquidated damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise
occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered to the Company.

 

4.
Registration Expenses. All fees and expenses incident to the performance of or compliance with, this Agreement by the Company
shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses
referred to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made with
the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for
trading, (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company in writing (including,
without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the
Registrable Securities) and (D) if not previously paid by the Company, with respect to any filing that may be required to be made by
any broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant to FINRA Rule 5110, so long as
the broker is receiving no more than a customary brokerage commission in connection with such sale, (ii) printing expenses (including,
without limitation, expenses of printing certificates for Registrable Securities), (iii) messenger, telephone and delivery expenses,
(iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the Company so desires such insurance,
and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated
by this Agreement. In addition, the Company shall be responsible for all of its internal expenses incurred in connection with the consummation
of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing
of the Registrable Securities on any securities exchange as required hereunder. Notwithstanding the foregoing, the Company shall be responsible
for the reasonable counsel fees of the Holders; provided, however, that any such counsel fees of the Holders shall not exceed $10,000
incurred in connection with the review of the registration statement.

 

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5.
Indemnification.

 

(a)
Indemnification by the Company. The Company shall, notwithstanding any termination of this Agreement, indemnify and hold harmless
each Holder, the officers, directors, members, partners, agents, brokers (including brokers who offer and sell Registrable Securities
as principal as a result of a pledge or any failure to perform under a margin call of Common Stock), investment advisors and employees
(and any other Persons with a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or any
other title) of each of them, each Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section
20 of the Exchange Act) and the officers, directors, members, stockholders, partners, agents and employees (and any other Persons with
a functionally equivalent role of a Person holding such titles, notwithstanding a lack of such title or any other title) of each such
controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities,
costs (including, without limitation, reasonable attorneys’ fees) and expenses (collectively, “Losses”), as
incurred, arising out of or relating to (1) any untrue or alleged untrue statement of a material fact contained in a Registration Statement,
any Prospectus or any form of prospectus, including any blue sky application (as defined below) or in any amendment or supplement thereto
or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto, in light of the circumstances
under which they were made) not misleading; (2) any blue sky application or other document executed by the Company specifically for that
purpose or based upon written information furnished by the Company filed in any state or other jurisdiction in order to qualify any or
all of the Registrable Securities under the securities laws thereof (any such application, document or information herein called a “Blue
Sky Application”); or (3) any violation or alleged violation by the Company of the Securities Act, the Exchange Act or any
state securities law, or any rule or regulation thereunder, in connection with the performance of its obligations under this Agreement,
except to the extent, but only to the extent, that (i) such untrue statements or omissions are based solely upon information regarding
such Holder furnished in writing to the Company by such Holder expressly for use therein, or to the extent that such information relates
to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed and expressly approved
in writing by such Holder expressly for use in a Registration Statement, such Prospectus or in any amendment or supplement thereto (it
being understood that the Holder has approved Annex A hereto for this purpose) or (ii) in the case of an occurrence of an event of the
type specified in Section 3(d)(iii)-(vi), the use by such Holder of an outdated, defective or otherwise unavailable Prospectus after
the Company has notified such Holder in writing that the Prospectus is outdated, defective or otherwise unavailable for use by such Holder
and prior to the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following the
receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify the Holders
promptly of the institution, threat or assertion of any Proceeding arising from or in connection with the transactions contemplated by
this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made
by or on behalf of such indemnified person and shall survive the transfer of any Registrable Securities by any of the Holders in accordance
with Section 6(h).

 

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(b)
Indemnification by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors,
officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons (and any other Persons with a functionally
equivalent role of a Person holding such titles, notwithstanding a lack of such title or any other title), to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon: (x) such Holder’s
failure to comply with any applicable prospectus delivery requirements of the Securities Act or the plan of distribution in any Registration
Statement through no fault of the Company or (y) any untrue or alleged untrue statement of a material fact contained in any Registration
Statement, any Prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating
to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in
the case of any Prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading (i) to the
extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing by such
Holder to the Company expressly for inclusion in such Registration Statement or such Prospectus or (ii) to the extent, but only to the
extent, that such information relates to such Holder’s proposed method of distribution of Registrable Securities and was reviewed
and expressly approved in writing by such Holder expressly for use in a Registration Statement (it being understood that the Holder has
approved Annex A hereto for this purpose), such Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence
of an event of the type specified in Section 3(d)(iii)-(vi), to the extent, but only to the extent, related to the use by such Holder
of an outdated, defective or otherwise unavailable Prospectus after the Company has notified such Holder in writing that the Prospectus
is outdated, defective or otherwise unavailable for use by such Holder and prior to the receipt by such Holder of the Advice contemplated
in Section 6(d), but only if and to the extent that following the receipt of the Advice the misstatement or omission giving rise to such
Loss would have been corrected. In no event shall the liability of any selling Holder under this Section 5(b) be greater in amount than
the dollar amount of the net proceeds actually received by such Holder upon the sale of the Registrable Securities giving rise to such
indemnification obligation.

 

(c)
Conduct of Indemnification Proceedings. If any Proceeding shall be brought or asserted against any Person entitled to indemnity
hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is
sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall have the right to assume the defense
thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses
incurred in connection with defense thereof; provided, that, the failure of any Indemnified Party to give such notice shall not relieve
the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be
finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that such failure
shall have materially and adversely prejudiced the Indemnifying Party.

 

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An
Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
has agreed in writing to pay such fees and expenses, (2) the Indemnifying Party shall have failed promptly to assume the defense of such
Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding, or (3) the named parties to
any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and counsel to
the Indemnified Party shall reasonably believe that a material conflict of interest is likely to exist if the same counsel were to represent
such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing
that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to
assume the defense thereof and the reasonable fees and expenses of no more than one separate counsel shall be at the expense of the Indemnifying
Party). The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which
consent shall not be unreasonably withheld or delayed. No Indemnifying Party shall, without the prior written consent of the Indemnified
Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes
an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

Subject
to the terms of this Agreement, all reasonable fees and expenses of the Indemnified Party (including reasonable fees and expenses to
the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section)
shall be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice thereof to the Indemnifying Party; provided,
that, the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable to
such actions for which such Indemnified Party is finally determined by a court of competent jurisdiction (which determination is not
subject to appeal or further review) not to be entitled to indemnification hereunder.

 

(d)
Contribution. If the indemnification under Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient to hold
an Indemnified Party harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid or payable by such Indemnified
Party, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection
with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative
fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has
been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such action, statement or omission. The amount paid or
payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any
reasonable attorneys’ or other fees or expenses incurred by such party in connection with any Proceeding to the extent such party
would have been indemnified for such fees or expenses if the indemnification provided for in this Section was available to such party
in accordance with its terms.

 

The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately
preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute pursuant to this
Section 5(d), in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder from the
sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required
to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

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The
indemnity and contribution agreements contained in this Section are in addition to any liability that the Indemnifying Parties may have
to the Indemnified Parties.

 

6.
Miscellaneous.

 

(a)
Remedies. In the event of a breach by the Company or by a Holder of any of their respective obligations under this Agreement,
each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement,
including recovery of damages, shall be entitled to specific performance of its rights under this Agreement. Each of the Company and
each Holder agrees that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it
of any of the provisions of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect
of such breach, it shall not assert or shall waive the defense that a remedy at law would be adequate.

 

(b)
No Piggyback on Registrations; Prohibition on Filing Other Registration Statements. Neither the Company nor any of its security
holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company in any Registration Statements
other than the Registrable Securities. The Company shall not file any other registration statements (other than any registration statement
on Form S-1 or Form S-3 for an underwritten public offering of any of the Company’s securities (an “Underwritten Offering”))
until all Registrable Securities are registered pursuant to a Registration Statement that is declared effective by the Commission, provided
that this Section 6(b) shall not prohibit the Company from filing amendments to registration statements filed prior to the date of this
Agreement.

 

(c)
Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the Securities Act
as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to a Registration
Statement.

 

(d)
Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from
the Company of the occurrence of any event of the kind described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue
disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the “Advice”)
by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company will
use its reasonable best efforts to ensure that the use of the Prospectus may be resumed as promptly as is practicable. The Company agrees
and acknowledges that any periods during which the Holder is required to discontinue the disposition of the Registrable Securities hereunder
shall be subject to the provisions of Section 2(d).

 

(e)
Piggy-Back Registrations. If, at any time during the Effectiveness Period, there is not an effective Registration Statement covering
all of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement, other
than with respect to an Underwritten Offering or the Class B Warrant Registration Statement, relating to an offering for its own account
or the account of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated
under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition
of any entity or business or equity securities issuable in connection with the Company’s stock option or other employee benefit
plans, then the Company shall deliver to each Holder a written notice of such determination and, if within fifteen days after the date
of the delivery of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement
all or any part of such Registrable Securities such Holder requests to be registered; provided, however, that the Company
shall not be required to register any Registrable Securities pursuant to this Section 6(e) that are eligible for resale pursuant to Rule
144 (without volume restrictions or current public information requirements) promulgated by the Commission pursuant to the Securities
Act or that are the subject of a then effective Registration Statement.

 

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(f)
Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified
or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing
and signed by the Company and the Holders of 67% or more of the then outstanding Registrable Securities (for purposes of clarification,
this includes any Registrable Securities issuable upon exercise or conversion of any Security). If a Registration Statement does not
register all of the Registrable Securities pursuant to a waiver or amendment done in compliance with the previous sentence, then the
number of Registrable Securities to be registered for each Holder shall be reduced pro rata among all Holders and each Holder shall have
the right to designate which of its Registrable Securities shall be omitted from such Registration Statement. Notwithstanding the foregoing,
a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of a Holder
or some Holders and that does not directly or indirectly affect the rights of other Holders may be given only by such Holder or Holders
of all of the Registrable Securities to which such waiver or consent relates; provided, however, that the provisions of
this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the first sentence of this Section
6(f). No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of this
Agreement unless the same consideration also is offered to all of the parties to this Agreement.

 

(g)
Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered
as set forth in the Purchase Agreement.

 

(h)
Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties and shall inure to the benefit of each Holder. The Company may not assign (except by merger) its rights or obligations
hereunder without the prior written consent of all of the Holders of the then outstanding Registrable Securities. Each Holder may assign
their respective rights hereunder in the manner and to the Persons as permitted under Section 5.7 of the Purchase Agreement.

 

(i)
No Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the
Company or any of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities,
that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions
hereof. Neither the Company nor any of its Subsidiaries has previously entered into any agreement granting any registration rights with
respect to any of its securities to any Person that have not been satisfied in full.

 

(j)
Execution and Counterparts. This Agreement may be executed in two or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to
the other party, it being understood that both parties need not sign the same counterpart. 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.

 

    	 	82	 

    	 

    

 

(k)
Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be
determined in accordance with the provisions of the Purchase Agreement.

 

(l)
Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any other remedies provided by law.

 

(m)
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to
be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall
remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their commercially
reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated
by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would
have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
invalid, illegal, void or unenforceable.

 

(n)
Headings. The headings in this Agreement are for convenience only, do not constitute a part of the Agreement and shall not be
deemed to limit or affect any of the provisions hereof.

 

(o)
Independent Nature of Holders’ Obligations and Rights. The obligations of each Holder hereunder are several and not joint
with the obligations of any other Holder hereunder, and no Holder shall be responsible in any way for the performance of the obligations
of any other Holder hereunder. Nothing contained herein or in any other agreement or document delivered at any closing, and no action
taken by any Holder pursuant hereto or thereto, shall be deemed to constitute the Holders as a partnership, an association, a joint venture
or any other kind of group or entity, or create a presumption that the Holders are in any way acting in concert or as a group or entity
with respect to such obligations or the transactions contemplated by this Agreement or any other matters, and the Company acknowledges
that the Holders are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations
or transactions. Each Holder shall be entitled to protect and enforce its rights, including without limitation the rights arising out
of this Agreement, and it shall not be necessary for any other Holder to be joined as an additional party in any proceeding for such
purpose. The use of a single agreement with respect to the obligations of the Company contained was solely in the control of the Company,
not the action or decision of any Holder, and was done solely for the convenience of the Company and not because it was required or requested
to do so by any Holder. It is expressly understood and agreed that each provision contained in this Agreement is between the Company
and a Holder, solely, and not between the Company and the Holders collectively and not between and among Holders.

 

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

 

    	 	83	 

    	 

    

 

Section
1.03 (Signature Pages Follow)

 

IN
WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement as of the date first written above.

 

	 	MARIZYME,
    INC., a Nevada
    corporation
	 	 	 
	 	By:	                   
	 	Name:	 
	 	Title:	 

 

[SIGNATURE
PAGE OF PURCHASERS FOLLOWS]

 

    	 	84	 

    	 

    

 

SIGNATURE
PAGE OF PURCHASERS TO MARIZYME,
INC. REGISTRATION RIGHTS

AGREEMENT

 

    	 	85	 

    	 

    

 

Annex
A

 

Plan
of Distribution

 

Each
selling stockholder (the “Selling Stockholders”) of the securities of Marizyme,
Inc., a Nevada corporation (the “Company”), and any of their pledgees, assignees and successors-in-interest
may, from time to time, sell any or all of their Company securities covered hereby on the Nasdaq Capital Market or any other stock exchange,
market or trading facility on which such securities are traded or in private transactions. These sales may be at fixed or negotiated
prices. A Selling Stockholder may use any one or more of the following methods when selling securities:

 

	 	●	ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;
	 	 	 
	 	●	block
    trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block
    as principal to facilitate the transaction;
	 	 	 
	 	●	purchases
    by a broker-dealer as principal and resale by the broker-dealer for its account;
	 	 	 
	 	●	an
    exchange distribution in accordance with the rules of the applicable exchange;
	 	 	 
	 	●	privately
    negotiated transactions;
	 	 	 
	 	●	settlement
    of short sales entered into after the effective date of the registration statement of which this prospectus is a part;
	 	 	 
	 	●	in
    transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities at a stipulated
    price per security;
	 	 	 
	 	●	through
    the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;
	 	 	 
	 	●	a
    combination of any such methods of sale; or
	 	 	 
	 	●	any
    other method permitted pursuant to applicable law.

 

The
Selling Stockholders may also sell securities under Rule 144 under the Securities Act of 1933, as amended (the “Securities Act”),
if available, rather than under this prospectus.

 

Broker-dealers
engaged by the Selling Stockholders may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions
or discounts from the Selling Stockholders (or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser)
in amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in the case of an agency transaction not in
excess of a customary brokerage commission in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or
markdown in compliance with FINRA IM-2440.

 

In
connection with the sale of the securities or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers
or other financial institutions, which may in turn engage in short sales of the securities in the course of hedging the positions they
assume. The Selling Stockholders may also sell securities short and deliver these securities to close out their short positions, or loan
or pledge the securities to broker-dealers that in turn may sell these securities. The Selling Stockholders may also enter into option
or other transactions with broker-dealers or other financial institutions or create one or more derivative securities which require the
delivery to such broker-dealer or other financial institution of securities offered by this prospectus, which securities such broker-dealer
or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).

 

    	 	86	 

    	 

    

 

The
Selling Stockholders and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters”
within the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement or understanding,
directly or indirectly, with any person to distribute the securities. In no event shall any broker-dealer receive fees, commissions and
markups which, in the aggregate, would exceed eight percent (8%).

 

The
Company is required to pay certain fees and expenses incurred by the Company incident to the registration of the securities. The Company
has agreed to indemnify the Selling Stockholders against certain losses, claims, damages and liabilities, including liabilities under
the Securities Act.

 

Because
Selling Stockholders may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to
the prospectus delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this
prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this prospectus.
The Selling Stockholders have advised us that there is no underwriter or coordinating broker acting in connection with the proposed sale
of the resale securities by the Selling Stockholders.

 

We
agreed to keep this prospectus effective until the earliest of (i) one (1) year from the date the Registration Statement is declared
effective by the Commission, (ii) the date on which the securities may be resold by the Selling Stockholders without registration and
without regard to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance
with the current public information under Rule 144 under the Securities Act or any other rule of similar effect or (iii) the date on
which all of the securities have been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar
effect. The resale securities will be sold only through registered or licensed brokers or dealers if required under applicable state
securities laws. In addition, in certain states, the resale securities covered hereby may not be sold unless they have been registered
or qualified for sale in the applicable state or an exemption from the registration or qualification requirement is available and is
complied with.

 

Under
applicable rules and regulations under the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously
engage in market making activities with respect to the common stock for the applicable restricted period, as defined in Regulation M,
prior to the commencement of the distribution. In addition, the Selling Stockholders will be subject to applicable provisions of the
Exchange Act and the rules and regulations thereunder, including Regulation M, which may limit the timing of purchases and sales of securities
of the common stock by the Selling Stockholders or any other person. We will make copies of this prospectus available to the Selling
Stockholders and have informed them of the need to deliver a copy of this prospectus to each purchaser at or prior to the time of the
sale (including by compliance with Rule 172 under the Securities Act).

 

    	 	87	 

    	 

    

 

TRADEMARK
SECURITY AGREEMENT

 

This
TRADEMARK SECURITY AGREEMENT (this “Trademark Security Agreement”) is entered into as of May __, 2021 by and between
MARIZYME, INC., a Nevada corporation (the “Grantor”) and secured parties signatory hereto (collectively, the
“Secured Party”).

 

WHEREAS,
(a) the Grantor and the Secured Party have entered into that certain Unit Purchase Agreement dated as of the date hereof (as amended
and in effect from time to time, the “UPA”) and (b) the Grantor has issued to the Secured Party those certain Units
and those certain Senior Secured Convertible Promissory Notes dated as of the date hereof (as amended and in effect from time to time,
collectively, the “Notes”);

 

WHEREAS,
in connection with the UPA and the Notes, the Grantor has entered into that certain Security Agreement dated as of the date hereof (as
amended and in effect from time to time, the “Security Agreement”) with the Secured Party pursuant to which, the Grantor
has granted a lien in favor of the Secured Party in all of the Grantor’s assets (including the Trademark Collateral) to secure
its obligations under the Guaranty; and

 

WHEREAS,
in connection with the Security Agreement, the Grantor has agreed to execute and deliver this Trademark Security Agreement in order to
record the security interest granted to the Secured Party with the United States Patent and Trademark Office;

 

NOW,
THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Grantor hereby agrees as follows:

 

SECTION
1. Defined Terms. Unless otherwise defined herein, capitalized terms defined in the Security Agreement and used herein have the
meaning given to them in the Security Agreement. The term “Trademarks” means, collectively, (a) all of the trademarks,
service marks, designs, logos, indicia, trade names, corporate names, company names, business names, fictitious business names, trade
styles, elements of package or trade dress, and other source and product or service identifiers, used or associated with or appurtenant
to the products, services and businesses of the Grantor, that (i) are set forth on Schedule I hereto, or (ii) have been adopted,
acquired, owned, held or used by the Grantor or are now owned, held or used by the Grantor, in the Grantor’s business, or with
the Grantor’s products and services, or in which the Grantor has any right, title or interest, or (iii) are in the future adopted,
acquired, owned, held and used by the Grantor in the Grantor’s business or with the Grantor’s products and services, or in
which the Grantor in the future acquires any right, title or interest, (b) all past, present or future rights in, to and associated with
the foregoing throughout the world, whether arising under federal law, state law, common law, foreign law or otherwise, including the
following: all such rights arising out of or associated with the registrations of the foregoing items set forth in clause (a), the right
(but not the obligation) to register claims under any state, federal or foreign trademark law or regulation; the right (but not the obligation)
to sue or bring opposition or cancellation proceedings in the name of the Grantor or the Secured Party for any and all past, present
and future infringements or dilution of or any other damages or injury to the foregoing or any associated goodwill, and the rights to
damages or profits due or accrued arising out of or in connection with any such past, present or future infringement, dilution, damage
or injury; and (c) any license rights related to the foregoing.

 

    	 	88	 

    	 

    

 

SECTION
2. Grant of Security Interest in Trademark Collateral.

 

2.1.
The Grantor hereby pledges, collaterally assigns and grants to the Secured Party to secure the prompt and complete payment and performance
of the Obligations, a security interest (referred to in this Trademark Security Agreement as the “Security Interest”)
in all of the Grantor’s right, title and interest in, to and under the following, whether now owned or hereafter acquired or arising
(collectively, the “Trademark Collateral”):

 

(a)
all of its Trademarks and licenses with respect to Trademarks to which it is a party including those referred to on Schedule I;

 

(b)
all goodwill of the business connected with the use of, and symbolized by, each Trademark and each license with respect to Trademarks;
and

 

(c)
all products and proceeds (as that term is defined in the UCC) of the foregoing, including any claim by the Grantor against third parties
for past, present or future (i) infringement or dilution of any Trademark or any Trademarks exclusively licensed under any license, including
right to receive any damages, (ii) injury to the goodwill associated with any Trademark, or (iii) right to receive license fees, royalties,
and other compensation under any license with respect to Trademarks.

 

2.2.
Subject to Section 14 of the Security Agreement, the Grantor’s obligations under this Agreement shall be limited to the actual
dollar amount of the Obligations. Any actions taken by the Secured Party or its agent(s) under the provisions of this Trademark Security
Agreement upon the occurrence and during the continuance of an Event of Default, including with respect to the authorization to sell,
transfer, pledge, make any agreement with respect to or otherwise dispose of or deal with any of the Collateral, shall be limited to
the actual dollar amount of the Obligations.

 

SECTION
3. Security for Obligations. This Trademark Security Agreement and the Security Interest created hereby secures the payment and
performance of the Obligations, whether now existing or arising hereafter. Without limiting the generality of the foregoing, this Trademark
Security Agreement secures the payment of all amounts which constitute part of the Obligations and would be owed by the Grantor to the
Secured Party, whether or not they are unenforceable or not allowable due to the existence of an insolvency proceeding involving the
Grantor.

 

SECTION
4. Security Agreement. The Security Interest granted pursuant to this Trademark Security Agreement is granted in conjunction with
the security interests granted to the Secured Party pursuant to the Security Agreement. The Grantor hereby acknowledges and affirms that
the rights and remedies of the Secured Party with respect to the Security Interest in the Trademark Collateral made and granted hereby
are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully
set forth herein. To the extent there is any inconsistency between this Trademark Security Agreement and the Security Agreement, the
Security Agreement shall control.

 

    	 	89	 

    	 

    

 

SECTION
5. Authorization to Supplement. If the Grantor shall obtain rights to any new Trademarks, the provisions of this Trademark Security
Agreement shall automatically apply thereto. The Grantor hereby authorizes the Secured Party unilaterally to modify this Trademark Security
Agreement by amending Schedule I to include any such new trademark rights of the Grantor. Notwithstanding the foregoing, no failure
to so modify this Trademark Security Agreement or amend Schedule I shall in any way affect, invalidate or detract from the Secured
Party’s continuing security interest in all Collateral (including the Trademark Collateral), whether or not listed on Schedule
I.

 

SECTION
6. Counterparts. This Trademark Security Agreement may be executed in any number of counterparts, all of which shall constitute
one and the same instrument, and any party hereto may execute this Trademark Security Agreement by signing and delivering one or more
counterparts.

 

SECTION
7. Governing Law. This Trademark Security Agreement and any claims, controversy, dispute or cause of action (whether in contract
or tort or otherwise) based upon, arising out of or relating to this Trademark Security Agreement and the transactions contemplated hereby
shall be governed by, and construed in accordance with, the law of the State of New York.

 

[signature
pages follow]

 

    	 	90	 

    	 

    

 

IN
WITNESS WHEREOF, each Grantor has caused this Trademark Security Agreement to be executed and delivered by its duly authorized offer
as of the date first set forth above.

 

	GRANTOR:	MARIZYME,
    INC.
	 	 	 
	 	By:	          
	 	Name:	 
	 	Title:	 

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                           )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of Marizyme, Inc. and that
said instrument was signed and sealed on behalf of said corporation by authority of its Board of Directors, and said ______________ acknowledged
said instrument to be the free act and deed of said corporation.

 

______________________________

(official signature and seal of notary)

 

My
commission expires:

 

[Signature
Pages of the Secured Parties follow]

 

    	 	91	 

    	 

    

 

Signature
Pages of the Secured Parties

 

Accepted
and agreed to:

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	92	 

    	 

    

 

SCHEDULE
I 

to

TRADEMARK
SECURITY AGREEMENT 

TRADEMARK
REGISTRATIONS AND TRADEMARK APPLICATIONS

 

    	 	93	 

    	 

    

 

SECURITY
AGREEMENT

 

SECURITY
AGREEMENT (this “Agreement”), dated as of May __, 2021, by and among Marizyme,
Inc., a Nevada corporation (the “Company”) and the secured parties signatory hereto (collectively,
the “Secured Party”).

 

WHEREAS,
the Company (a) and the Secured Party have entered into that certain Unit Purchase Agreement dated as of the date hereof (as amended
and in effect from time to time, the “UPA”) and (b) issued to the Secured Party those certain Units and those certain
Secured Convertible Promissory Notes dated as of the date hereof (as amended and in effect from time to time, the “Notes”);
and

 

WHEREAS,
it is a condition precedent to the Secured Party agreeing to make loans or otherwise extend credit to the Company and purchase the Units
under the UPA and the Notes that the Company execute and deliver to the Secured Party a security agreement in substantially the form
hereof; and

 

WHEREAS,
the Company wishes to grant security interests in favor of the Secured Party as herein provided;

 

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

 

24.
Definitions.
All capitalized terms used herein without definitions shall have the respective meanings provided therefor in the UPA. All terms defined
in the Uniform Commercial Code of the State (as hereinafter defined) and used herein shall have the same definitions herein as specified
therein, however, if a term is defined in Article 9 of the Uniform Commercial Code of the State differently than in another Article of
the Uniform Commercial Code of the State, the term has the meaning specified in Article 9, and the following terms shall have the following
meanings:

 

“Event
of Default” means the occurrence of any “Event of Default” under and as defined in each of the UPA and the Notes,
or the failure of the Company to comply with any term or covenant of any Transaction Document (including this Agreement) to which it
is a party.

 

“Lien”
means any mortgage, charge, pledge, hypothecation, security interest, assignment by way of security, lien (statutory or otherwise), encumbrance,
conditional sale agreement, capital lease, financing lease, deposit arrangement, title retention agreement, and any other agreement,
trust or arrangement that in substance secures payment or performance of an obligation.

 

“Obligations”
means, collectively, (a) all debts, liabilities and obligations, present or future, direct or indirect, absolute or contingent, matured
or unmatured, at any time or from time to time due or accruing due and owing by or otherwise payable by the Company to the Secured Party
in any currency, under, in connection with or pursuant to the any Transaction Document (including, without limitation, this Agreement),
and whether incurred by the Company alone or jointly with another or others and whether as principal, guarantor or surety and in whatever
name or style and (b) all expenses, costs and charges incurred by or on behalf of the Secured Party in connection with any Transaction
Document (including this Agreement) or the Collateral, including all legal fees, court costs, receiver’s or agent’s remuneration
and other expenses of taking possession of, repairing, protecting, insuring, preparing for disposition, realizing, collecting, selling,
transferring, delivering or obtaining payment for the Collateral, and of taking, defending or participating in any action or proceeding
in connection with any of the foregoing matters or otherwise in connection with the Secured Party’s interest in any Collateral,
whether or not directly relating to the enforcement of this Agreement or any other Transaction Document.

 

    	 	94	 

    	 

    

 

“Permitted
Lien” means any of the following: (a) mechanics and materialman Liens and other statutory Liens (including Liens for taxes,
fees, assessments and other governmental charges or levies) in respect of any amount (i) which is not at the time overdue or (ii) which
may be overdue but the validity of which is being contested at the time in good faith by appropriate proceedings, in each case so long
as the holder of such Lien has not taken any action to foreclose or otherwise exercise any remedies with respect to such Lien; and (b)
Liens which are permitted in writing by the Secured Party in its sole and absolute discretion.

 

“State”
means the State of New York.

 

25.
Grant of Security Interest.

 

25.1.
Grant; Collateral Description. The Company hereby grants

 

25.1.1.
to the Secured Party, to secure the payment and performance in full of all of the Obligations, a security interest in and pledges
and assigns to the Secured Party the following properties, assets and rights of the Company, wherever located, whether now owned or hereafter
acquired or arising, and all proceeds and products thereof (all of the same being hereinafter called the “Collateral”):
all personal and fixture property of every kind and nature including all goods (including inventory, equipment and any accessions thereto),
instruments (including promissory notes), documents (whether tangible or electronic), accounts (including health-care-insurance receivables),
chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit rights (whether or not the letter of credit is evidenced
by a writing), commercial tort claims, securities and all other investment property, supporting obligations, any other contract rights
or rights to the payment of money, insurance claims and proceeds, and all general intangibles (including all payment intangibles).

 

25.1.2.
 The security interest, pledge and assignment in the Collateral referenced in Section 2.1.1 above shall be limited to the actual
dollar amount of the Obligations. Any actions taken by the Secured Party or its agent(s) under the provisions of this Agreement upon
the occurrence and during the continuance of an Event of Default, including with respect to the authorization to sell, transfer, pledge,
make any agreement with respect to or otherwise dispose of or deal with any of the Collateral, shall be limited to the actual dollar
amount of the Obligations.

 

    	 	95	 

    	 

    

 

25.2.
Commercial Tort Claims. The Secured Party acknowledges that the attachment of its security interest in any commercial tort
claim as original collateral is subject to the Company’s compliance with §4.7.

 

26.
Authorization to File Financing Statements.
The Company hereby irrevocably authorizes the Secured Party at any time and from time to time to file in any filing office in any Uniform
Commercial Code jurisdiction any initial financing statements and amendments thereto that (a) indicate the Collateral (i) as all assets
of the Company or words of similar effect, regardless of whether any particular asset comprised in the Collateral falls within the scope
of Article 9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as being of an equal or lesser scope or with greater
detail, and (b) provide any other information required by part 5 of Article 9 of the Uniform Commercial Code of the State or such other
jurisdiction for the sufficiency or filing office acceptance of any financing statement or amendment, including whether the Company is
an organization, the type of organization and any organizational identification number issued to the Company. The Company agrees to furnish
any such information to the Secured Party promptly upon the Secured Party’s reasonable request.

 

27.
Other Actions.
Further to insure the attachment, perfection and first priority of, and the ability of the Secured Party to enforce, the Secured Party’s
security interest in the Collateral, the Company agrees, in each case at the Company’s expense, to take the following actions with
respect to the following Collateral and without limitation on the Company’s other obligations contained in this Agreement:

 

27.1.
Promissory Notes and Tangible Chattel Paper. If the Company shall, now or at any time hereafter, hold or acquire any
promissory notes or tangible chattel paper with an aggregate value for all such promissory notes or tangible chattel paper in excess
of $50,000, the Company shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of
transfer or assignment duly executed in blank as the Secured Party may from time to time specify.

 

27.2.
Deposit Accounts. For each deposit account that the Company, now or at any time hereafter, opens or maintains the Company
shall, at the Secured Party’s request and option, pursuant to an agreement in form and substance satisfactory to the Secured Party,
either (a) cause the depositary bank to agree to comply without further consent of the Company, at any time with instructions from the
Secured Party to such depositary bank directing the disposition of funds from time to time credited to such deposit account, or (b) arrange
for the Secured Party to become the customer of the depositary bank with respect to the deposit account, with the Company being permitted,
only with the consent of the Secured Party, to exercise rights to withdraw funds from such deposit account. The Secured Party agrees
with the Company that the Secured Party shall not give any such instructions or withhold any withdrawal rights from the Company, unless
an Event of Default has occurred and is continuing, or, if effect were given to any withdrawal not otherwise permitted by the Transaction
Documents, would occur. The provisions of this paragraph shall not apply to any deposit accounts specially and exclusively used for payroll,
payroll taxes and other employee wage and benefit payments to or for the benefit of the Company’s salaried employees.

 

    	 	96	 

    	 

    

 

27.3.
Investment Property. If the Company shall, now or at any time hereafter, hold or acquire any certificated securities,
the Company shall forthwith endorse, assign and deliver the same to the Secured Party, accompanied by such instruments of transfer or
assignment duly executed in blank as the Secured Party may from time to time specify. If any securities now or hereafter acquired by
the Company are uncertificated and are issued to the Company or its nominee directly by the issuer thereof, the Company shall promptly
(but in any event within two Business Days) notify the Secured Party thereof and, at the Secured Party’s request and option, pursuant
to an agreement in form and substance satisfactory to the Secured Party, either (a) cause the issuer to agree to comply without further
consent of the Company or such nominee, at any time with instructions from the Secured Party as to such securities, or (b) arrange for
the Secured Party to become the registered owner of the securities. If any securities, whether certificated or uncertificated, or other
investment property now or hereafter acquired by the Company are held by the Company or its nominee through a securities intermediary
or commodity intermediary, the Company shall promptly (but in any event within two Business Days) notify the Secured Party thereof and,
at the Secured Party’s request and option, pursuant to an agreement in form and substance satisfactory to the Secured Party, either
(i) cause such securities intermediary or (as the case may be) commodity intermediary to agree to comply, in each case without further
consent of the Company or such nominee, at any time with entitlement orders or other instructions from the Secured Party to such securities
intermediary as to such securities or other investment property, or (as the case may be) to apply any value distributed on account of
any commodity contract as directed by the Secured Party to such commodity intermediary, or (ii) in the case of financial assets or other
investment property held through a securities intermediary, arrange for the Secured Party to become the entitlement holder with respect
to such investment property, with the Company being permitted, only with the consent of the Secured Party, to exercise rights to withdraw
or otherwise deal with such investment property. The Secured Party agrees with the Company that the Secured Party shall not give any
such entitlement orders or instructions or directions to any such issuer, securities intermediary or commodity intermediary, and shall
not withhold its consent to the exercise of any withdrawal or dealing rights by the Company, unless an Event of Default has occurred
and is continuing, or, after giving effect to any such investment and withdrawal rights not otherwise permitted by the Transaction Documents,
would occur. The provisions of this paragraph shall not apply to any financial assets credited to a securities account for which the
Secured Party is the securities intermediary.

 

27.4.
Collateral in the Possession of a Bailee. If any Collateral with an aggregate value in excess of $100,000 is, now or
at any time hereafter, in the possession of a bailee, the Company shall promptly notify the Secured Party thereof and, at the Secured
Party’s reasonable request and option, shall promptly obtain an acknowledgement from the bailee, in form and substance satisfactory
to the Secured Party, that the bailee holds such Collateral for the benefit of the Secured Party and such bailee’s agreement to
comply, without further consent of the Company, at any time with instructions of the Secured Party as to such Collateral.

 

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27.5.
Electronic Chattel Paper, Electronic Documents and Transferable Records. If the Company, now or at any time hereafter, holds
or acquires an interest in any Collateral that is electronic chattel paper, any electronic document or any “transferable record,”
as that term is defined in Section 201 of the federal Electronic Signatures in Global and National Commerce Act, or in §16 of the
Uniform Electronic Transactions Act as in effect in any relevant jurisdiction, the Company shall promptly notify the Secured Party thereof
and, at the request and option of the Secured Party, shall take such action as the Secured Party may reasonably request to vest in the
Secured Party control, under §9-105 of the Uniform Commercial Code of the State or any other relevant jurisdiction, of such electronic
chattel paper, control, under §7-106 of the Uniform Commercial Code of the State or any other relevant jurisdiction, of such electronic
document or control, under Section 201 of the federal Electronic Signatures in Global and National Commerce Act or, as the case may be,
§16 of the Uniform Electronic Transactions Act, as so in effect in such jurisdiction, of such transferable record. The Secured Party
agrees with the Company that the Secured Party will arrange, pursuant to procedures satisfactory to the Secured Party and so long as
such procedures will not result in the Secured Party’s loss of control, for the Company to make alterations to the electronic chattel
paper, electronic document or transferable record permitted under UCC §9-105, UCC §7-106, or, as the case may be, Section 201
of the federal Electronic Signatures in Global and National Commerce Act or §16 of the Uniform Electronic Transactions Act for a
party in control to make without loss of control, unless an Event of Default has occurred and is continuing or would occur after taking
into account any action by the Company with respect to such electronic chattel paper, electronic document or transferable record. The
provisions of this §4.5 relating to electronic documents and “control” under UCC §7-106 apply in the event that
the 2003 revisions to Article 7, with amendments to Article 9, of the Uniform Commercial Code, in substantially the form approved by
the American Law Institute and the National Conference of Commissioners on Uniform State Laws, are now or hereafter adopted and become
effective in the State or in any other relevant jurisdiction.

 

27.6.
Letter-of-Credit Rights. If the Company is, now or at any time hereafter, a beneficiary under a letter of credit with a stated
amount in excess of $25,000, or if the Company is a beneficiary under letters of credit not assigned to the Secured Party with an aggregate
stated amount in excess of $50,000, the Company shall promptly notify the Secured Party thereof and, at the request and option of the
Secured Party, the Company shall, pursuant to an agreement in form and substance satisfactory to the Secured Party, either (a) arrange
for the issuer and any confirmer of such letter of credit to consent to an assignment to the Secured Party of the proceeds of the letter
of credit or (b) arrange for the Secured Party to become the transferee beneficiary of the letter of credit.

 

27.7.
Commercial Tort Claims. If the Company shall, now or at any time hereafter, hold or acquire a commercial tort claim,
the Company shall promptly notify the Secured Party in a writing signed by the Company of the particulars thereof and grant to the Secured
Party in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing
to be in form and substance satisfactory to the Secured Party.

 

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27.8.
Other Actions as to any and all Collateral. The Company further agrees, upon the request of the Secured Party and at the Secured
Party’s option, to take any and all other actions as the Secured Party may determine to be necessary or useful for the attachment,
perfection and first priority of, and the ability of the Secured Party to enforce, the Secured Party’s security interest in any
and all of the Collateral, including (a) executing, delivering and, where appropriate, filing financing statements and amendments relating
thereto under the Uniform Commercial Code of any relevant jurisdiction, to the extent, if any, that the Company’s signature thereon
is required therefor, (b) causing the Secured Party’s name to be noted as secured party on any certificate of title for a titled
good if such notation is a condition to attachment, perfection or priority of, or ability of the Secured Party to enforce, the Secured
Party’s security interest in such Collateral, (c) complying with any provision of any statute, regulation or treaty of the United
States as to any Collateral if compliance with such provision is a condition to attachment, perfection or priority of, or ability of
the Secured Party to enforce, the Secured Party’s security interest in such Collateral, (d) obtaining governmental and other third
party waivers, consents and approvals, in form and substance satisfactory to the Secured Party, including any consent of any licensor,
lessor or other person obligated on Collateral, (e) obtaining waivers from mortgagees and landlords in form and substance satisfactory
to the Secured Party and (f) taking all actions under any earlier versions of the Uniform Commercial Code or under any other law, as
reasonably determined by the Secured Party to be applicable in any relevant Uniform Commercial Code or other jurisdiction, including
any foreign jurisdiction.

 

27.9.
Relation to other Security Documents. Concurrently herewith the Company is also executing and delivering to the Secured Party
the Patent Security Agreement and the Trademark Security Agreement pursuant to which the Company is assigning to the Secured Party certain
Collateral consisting of patents and patent rights and trademarks, service marks and trademark and service mark rights, together with
the goodwill appurtenant thereto. The provisions of Patent Security Agreement and the Trademark Security Agreement are supplemental to
the provisions of this Agreement and nothing contained in the Patent Security Agreement or the Trademark Security Agreement shall derogate
from any of the rights or remedies of the Secured Party hereunder. Nor will anything contained in the Patent Security Agreement or the
Trademark Security Agreement be deemed to prevent or extend the time of attachment or perfection of any security interest in such Collateral
created herby.

 

28.
Representations and Warranties Concerning
a Company’s Legal Status. The Company has, on the date hereof,
delivered to the Secured Party a certificate signed by the Company and entitled “Perfection Certificate” (the “Perfection
Certificate”). The Company represents and warrants to the Secured Party as follows: as of the date hereof (a) the Company’s
exact legal name is that indicated on the Perfection Certificate and on the signature page hereof, (b) the Company is an organization
of the type, and is organized in the jurisdiction, set forth in the Perfection Certificate, (c) the Perfection Certificate accurately
sets forth the Company’s organizational identification number or accurately states that the Company has none, (d) the Perfection
Certificate accurately sets forth the Company’s place of business or, if more than one, its chief executive office, as well as
the Company’s mailing address, if different, (e) all other information set forth on the Perfection Certificate pertaining to the
Company is accurate and complete, and (f) there has been no change in any of such information since the date on which the Perfection
Certificate was signed by the Company.

 

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29.
Covenants Concerning Company’s Legal
Status. The Company covenants with the Secured Party as follows:
(a) without providing at least thirty (30) days prior written notice to the Secured Party, the Company will not change its name, its
place of business or, if more than one, chief executive office, or its mailing address or organizational identification number if it
has one, (b) if the Company does not have an organizational identification number and later obtains one, the Company will forthwith notify
the Secured Party of such organizational identification number, and (c) the Company will not change its type of organization, jurisdiction
of organization or other legal structure.

 

30.
Representations and Warranties Concerning
Collateral, Etc. The Company further represents and warrants to
the Secured Party as follows: (a) the Company is the owner of or has other rights in or power to transfer the Collateral, free from any
right or claim of any person or any adverse lien, except for the security interest created by this Agreement and the Permitted Liens,
(b) none of the account debtors or other persons obligated on any of the Collateral is a governmental authority covered by the Federal
Assignment of Claims Act or like federal, state or local statute or rule in respect of such Collateral, (c) the Company holds no commercial
tort claim except as indicated on the Company’s Perfection Certificate, (d) all other information set forth on the Company’s
Perfection Certificate pertaining to the Collateral is accurate and complete, and (e) there has been no change in any of such information
since the date on which the Company’s Perfection Certificate was signed by the Company.

 

31.
Covenants Concerning Collateral, Etc.
The Company further covenants with the Secured Party as follows: (a) other than inventory sold in the ordinary course of business consistent
with past practices, the Collateral, to the extent not delivered to the Secured Party pursuant to §4, will be kept at those locations
listed on the Perfection Certificate and the Company will not remove the Collateral from such locations, without providing at least thirty
(30) days prior written notice to the Secured Party, (b) except for the security interest herein granted, the Company shall be the owner
of or have other rights in the Collateral free from any right or claim of any other person or any Lien (other than Permitted Liens),
and the Company shall defend the same against all claims and demands of all persons at any time claiming the same or any interests therein
adverse to the Secured Party, (c) other than in favor of the Secured Party, the Company shall not pledge, mortgage or create, or suffer
to exist any right of any person in or claim by any person to the Collateral, or any Lien in the Collateral in favor of any person, or
become bound (as provided in Section 9-203(d) of the Uniform Commercial Code of the State or any other relevant jurisdiction or otherwise)
by a security agreement in favor of any person as secured party, (d) the Company will permit the Secured Party, or its designee, to inspect
the Collateral at any reasonable time, wherever located, (e) the Company will pay promptly when due all taxes, assessments, governmental
charges and levies upon the Collateral or incurred in connection with the use or operation of the Collateral or incurred in connection
with this Agreement, and (f) the Company will not sell or otherwise dispose, or offer to sell or otherwise dispose, of the Collateral,
or any interest therein except for, so long as no Event of Default has occurred and is continuing, dispositions of obsolete or worn-out
property, the granting of non-exclusive licenses in the ordinary course of business, and the sale of inventory in the ordinary course
of business consistent with past practices.

 

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32.
Collateral Protection Expenses; Preservation
of Collateral.

 

32.1.
Expenses Incurred by Secured Party. In the Secured Party’s discretion, the Secured Party may discharge taxes and other
encumbrances at any time levied or placed on any of the Collateral, and pay any necessary filing fees or insurance premiums, in each
case if the Company fails to do so. The Company agrees to reimburse the Secured Party on demand for all expenditures so made. The Secured
Party shall have no obligation to the Company to make any such expenditures, nor shall the making thereof be construed as a waiver or
cure of any Event of Default.

 

32.2.
Secured Party’s Obligations and Duties. Anything herein to the contrary notwithstanding, the Company shall remain obligated
and liable under each contract or agreement comprised in the Collateral to be observed or performed by the Company thereunder. The Secured
Party shall not have any obligation or liability under any such contract or agreement by reason of or arising out of this Agreement or
the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner
to perform any of the obligations of the Company under or pursuant to any such contract or agreement, to make inquiry as to the nature
or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance
by any party under any such contract or agreement, to present or file any claim, to take any action to enforce any performance or to
collect the payment of any amounts which may have been assigned to the Secured Party or to which the Secured Party may be entitled at
any time or times. The Secured Party’s sole duty with respect to the custody, safe keeping and physical preservation of the Collateral
in its possession, under §9-207 of the Uniform Commercial Code of the State or otherwise, shall be to deal with such Collateral
in the same manner as the Secured Party deals with similar property for its own account.

 

33.
Securities and Deposits.
The Secured Party may at any time following and during the continuance of a payment default or an Event of Default, at its option,
transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and hold such income as additional
Collateral or apply it to the Obligations. Whether or not any Obligations are due, the Secured Party may, following and during the continuance
of a payment default or an Event of Default demand, sue for, collect, or make any settlement or compromise which it deems desirable with
respect to the Collateral. Regardless of the adequacy of Collateral or any other security for the Obligations, any deposits or other
sums at any time credited by or due from the Secured Party to the Company may at any time be applied to or set off against any of the
Obligations then due and owing.

 

34.
Notification to Account Debtors and Other
Persons Obligated on Collateral. If an Event of Default shall have
occurred and be continuing:

 

(a)
the Company shall, at the request and option of the Secured Party, notify account debtors and other persons obligated on any of the Collateral
of the security interest of the Secured Party in any account, chattel paper, general intangible, instrument or other Collateral and that
payment thereof is to be made directly to the Secured Party or to any financial institution designated by the Secured Party as the Secured
Party’s agent therefor;

 

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(b)
the Secured Party may itself, without notice to or demand upon the Company, so notify account debtors and other persons obligated on
Collateral;

 

(c)
after the making of such a request or the giving of any such notification, the Company shall hold any proceeds of collection of accounts,
chattel paper, general intangibles, instruments and other Collateral received by the Company as trustee for the Secured Party, for the
benefit of the Secured Party, without commingling the same with other funds of the Company and shall turn the same over to the Secured
Party in the identical form received, together with any necessary endorsements or assignments; and

 

(d)
the Secured Party shall apply the proceeds of collection of accounts, chattel paper, general intangibles, instruments and other Collateral
and received by the Secured Party to the payment of the Obligations, such proceeds to be immediately credited after final payment in
cash or other immediately available funds of the items giving rise to them.

 

35.
Power of Attorney.

 

35.1.
Appointment and Powers of Secured Party. The Company hereby irrevocably constitutes and appoints the Secured Party and any
officer or agent thereof, with full power of substitution, as its true and lawful attorneys-in-fact with full irrevocable power and authority
in the place and stead of the Company or in the Secured Party’s own name, for the purpose of carrying out the terms of this Agreement,
to take any and all appropriate action and to execute any and all documents and instruments that may be necessary or useful to accomplish
the purposes of this Agreement and, without limiting the generality of the foregoing, hereby gives said attorneys the power and right,
on behalf of the Company, without notice to or assent by the Company, to do the following:

 

(a)
upon the occurrence and during the continuance of an Event of Default, generally to sell, transfer, pledge, make any agreement with respect
to or otherwise dispose of or deal with any of the Collateral in such manner as is consistent with the Uniform Commercial Code of the
State or any other relevant jurisdiction and as fully and completely as though the Secured Party were the absolute owner thereof for
all purposes, and to do, at the Company’s expense, at any time, or from time to time, all acts and things which the Secured Party
deems necessary or useful to protect, preserve or realize upon the Collateral and the Secured Party’s security interest therein,
in order to effect the intent of this Agreement, all no less fully and effectively as the Company might do, including (i) upon written
notice to the Company, the exercise of voting rights with respect to voting securities, which rights may be exercised, if the Secured
Party so elects, with a view to causing the liquidation of assets of the issuer of any such securities and (ii) the execution, delivery
and recording, in connection with any sale or other disposition of any Collateral, of the endorsements, assignments or other instruments
of conveyance or transfer with respect to such Collateral; and

 

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(b)
to the extent that the Company’s authorization given in §3 is not sufficient, to file such financing statements with respect
hereto, with or without the Company’s signature, or a photocopy of this Agreement in substitution for a financing statement, as
the Secured Party may deem appropriate and to execute in the Company’s name such financing statements and amendments thereto and
continuation statements which may require the Company’s signature.

 

35.2.
Ratification by Company. To the extent permitted by law, the Company hereby ratifies all that said attorneys shall lawfully
do or cause to be done by virtue hereof. This power of attorney is a power coupled with an interest and is irrevocable.

 

35.3.
No Duty on Secured Party. The powers conferred on the Secured Party hereunder are solely to protect the interests of the Secured
Party in the Collateral and shall not impose any duty upon the Secured Party to exercise any such powers. The Secured Party shall be
accountable only for the amounts that it actually receives as a result of the exercise of such powers, and neither it nor any of its
officers, directors, employees or agents shall be responsible to the Company for any act or failure to act, except for the Secured Party’s
own gross negligence or willful misconduct.

 

36.
Rights and Remedies.

 

36.1.
General. If an Event of Default shall have occurred and be continuing, the Secured Party, without any other notice to or demand
upon the Company, shall have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and remedies,
the rights and remedies of a secured party under the Uniform Commercial Code of the State or any other relevant jurisdiction and any
additional rights and remedies as may be provided to a secured party in any jurisdiction in which Collateral is located, including the
right to take possession of the Collateral, and for that purpose the Secured Party may, so far as the Company can give authority therefor,
enter upon any premises on which the Collateral may be situated and remove the same therefrom. The Secured Party may in its discretion
require the Company to assemble all or any part of the Collateral at such location or locations within the jurisdiction(s) of the Company’s
principal office(s) or at such other locations as the Secured Party may reasonably designate. Unless the Collateral is perishable or
threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Secured Party shall give to the Company
at least ten (10) Business Days prior written notice of the time and place of any public sale of Collateral or of the time after which
any private sale or any other intended disposition is to be made. The Company hereby acknowledges that ten (10) Business Days prior written
notice of such sale or sales shall be reasonable notice. In addition, the Company waives any and all rights that it may have to a judicial
hearing in advance of the enforcement of any of the Secured Party’s rights and remedies hereunder, including its right following
an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies with respect thereto.

 

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37.
Standards for Exercising Rights and Remedies.
To the extent that applicable law imposes duties on the Secured Party to exercise remedies in a commercially reasonable manner, the Company
acknowledges and agrees that it is not commercially unreasonable for the Secured Party (a) to fail to incur expenses reasonably deemed
significant by the Secured Party to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process
into finished goods or other finished products for disposition, (b) to fail to obtain third party consents for access to Collateral to
be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection
or disposition of Collateral to be collected or disposed of, (c) to fail to exercise collection remedies against account debtors or other
persons obligated on Collateral or to fail to remove Liens on or any adverse claims against Collateral, (d) to exercise collection remedies
against account debtors and other persons obligated on the Collateral directly or through the use of collection agencies and other collection
specialists, (e) to advertise dispositions of the Collateral through publications or media of general circulation, whether or not the
Collateral is of a specialized nature, (f) to contact other persons, whether or not in the same business as the Company, for expressions
of interest in acquiring all or any portion of the Collateral, (g) to hire one or more professional auctioneers to assist in the disposition
of the Collateral, whether or not the collateral is of a specialized nature, (h) to dispose of the Collateral by utilizing Internet sites
that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or
that match buyers and sellers of assets, (i) to dispose of assets in wholesale rather than retail markets, (j) to disclaim disposition
warranties, (k) to purchase insurance or credit enhancements to insure the Secured Party against risks of loss, collection or disposition
of the Collateral or to provide to the Secured Party a guaranteed return from the collection or disposition of such Collateral, or (l)
to the extent deemed appropriate by the Secured Party, to obtain the services of brokers, investment bankers, consultants and other professionals
to assist the Secured Party in the collection or disposition of any of the Collateral. The Company acknowledges that the purpose of this
§14 is to provide non-exhaustive indications of what actions or omissions by the Secured Party would fulfill the Secured Party’s
duties under the Uniform Commercial Code of the State or any other relevant jurisdiction in the Secured Party’s exercise of remedies
against the Collateral and that other actions or omissions by the Secured Party shall not be deemed to fail to fulfill such duties solely
on account of not being indicated in this §14. Without limitation upon the foregoing, nothing contained in this §14 shall be
construed to grant any rights to the Company or to impose any duties on the Secured Party that would not have been granted or imposed
by this Agreement or by applicable law in the absence of this §14. Subject to the foregoing, the Secured Party agrees to use its
commercially reasonable efforts to foreclose only on such Collateral that may be required at any time to cure an Event of Default, which
has occurred and is continuing (inclusive of the Secured Party’s right to foreclose upon the acceleration of all the Obligations
under any of the Transaction Documents.) Provided, however, each Grantor acknowledges that there may be proceeds from any such foreclosure
in excess of the Obligations due to the nature of the Collateral foreclosed on or the net proceeds received by the Secured Party for
the disposition of any particular portion of the Collateral in any auction or other sale from any third party.

 

38.
No Waiver by Secured Party, etc.
The Secured Party shall not be deemed to have waived any of its rights and remedies in respect of the Obligations or the Collateral unless
such waiver shall be in writing and signed by the Secured Party. No delay or omission on the part of the Secured Party in exercising
any right or remedy shall operate as a waiver of such right or remedy or any other right or remedy. A waiver on any one occasion shall
not be construed as a bar to or waiver of any right or remedy on any future occasion. All rights and remedies of the Secured Party with
respect to the Obligations or the Collateral, whether evidenced hereby or by any other instrument or papers, shall be cumulative and
may be exercised singularly, alternatively, successively or concurrently at such time or at such times as the Secured Party deems expedient.

 

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39.
Suretyship Waivers by Company.
The Company waives demand, notice, protest, notice of acceptance of this Agreement, notice of loans made, credit extended, Collateral
received or delivered or other action taken in reliance hereon and all other demands and notices of any description. With respect to
both the Obligations and the Collateral, the Company assents to any extension or postponement of the time of payment or any other indulgence,
to any substitution, exchange or release of or failure to perfect any security interest in any such Collateral, to the addition or release
of any party or person primarily or secondarily liable, to the acceptance of partial payment thereon and the settlement, compromising
or adjusting of any thereof, all in such manner and at such time or times as the Secured Party may deem advisable. The Secured Party
shall have no duty as to the collection or protection of the Collateral or any income therefrom, the preservation of rights against prior
parties, or the preservation of any rights pertaining thereto beyond the safe custody thereof as set forth in §9.2. The Company
further waives any and all other suretyship defenses.

 

40.
Marshaling.
The Secured Party shall not be required to marshal any present or future collateral security (including but not limited to the Collateral)
for, or other assurances of payment of, the Obligations or any of them or to resort to such collateral security or other assurances of
payment in any particular order, and all of the rights and remedies of the Secured Party hereunder and of the Secured Party in respect
of such collateral security and other assurances of payment shall be cumulative and in addition to all other rights and remedies, however
existing or arising. To the extent that it lawfully may, the Company hereby agrees that it will not invoke any law relating to the marshaling
of collateral which might cause delay in or impede the enforcement of the Secured Party’s rights and remedies under this Agreement
or under any other instrument creating or evidencing any of the Obligations or under which any of the Obligations is outstanding or by
which any of the Obligations is secured or payment thereof is otherwise assured, and, to the extent that it lawfully may, the Company
hereby irrevocably waives the benefits of all such laws.

 

41.
Proceeds of Dispositions; Expenses.
The Company shall pay to the Secured Party on demand any and all expenses, including attorneys’ fees and disbursements, incurred
or paid by the Secured Party in protecting or preserving the Secured Party’s rights and remedies under or in respect of any of
the Obligations or any of the Collateral and any such expenses incurred in releasing any security interest granted hereunder and, in
addition, the Company shall pay to the Secured Party on demand any and all expenses, including attorneys’ fees and disbursements,
incurred or paid by the Secured Party in enforcing the Secured Party’s rights and remedies under or in respect of any of the Obligations
or any of the Collateral. After deducting all of said expenses, the residue of any proceeds of collection or sale or other disposition
of Collateral shall, to the extent actually received in cash, be applied to the payment of the Obligations in such order or preference
as is provided in the UPA, proper allowance and provision being made for any Obligations not then due. Upon the final payment and satisfaction
in full of all of the Obligations and after making any payments required by Sections 9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial
Code of the State, any excess shall be returned to the Company. In the absence of final payment and satisfaction in full of all of the
Obligations, the Company shall remain liable for any deficiency.

 

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42.
Overdue Amounts.
Until paid, all amounts due and payable by the Company hereunder shall be a debt secured by the Collateral and shall bear, whether before
or after judgment, interest at the rate of interest for overdue principal set forth in the Transaction Documents.

 

43.
Governing Law; Consent to Jurisdiction.
This Agreement IS A contract UNDER the laws of the state of NEW YORK and shall for all purposes
be construed in accordance with and governed by the laws of SAID state of NEW YORK. The Company and THE SECURED PARTY EACH agree that
any suit for the enforcement of this agreement or any other action brought by SUCH PERSON arising hereunder or in any way related to
this agreement SHALL BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK IN THE BOROUGH OF MANHATTAN OR ANY FEDERAL COURT
SITTING THEREIN AND CONSENTS TO THE NONEXCLUSIVE JURISDICTION OF SUCH COURT AND SERVICE OF PROCESS IN ANY SUCH SUIT BEING MADE UPON SUCH
PERSON BY MAIL AT THE ADDRESS SPECIFIED ON THE SIGNATURE PAGE OF EACH PARTY HERETO. the Company
hereby waives any objection that it may now or hereafter have to the venue of any suit BROUGHT IN the state of new york or any court
SITTING THEREIN or that A suit BROUGHT THEREIN is brought in an inconvenient court.

 

44.
Waiver of Jury Trial.
THE COMPANY AND THE SECURED PARTY WAIVES ITS RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN
CONNECTION WITH THIS AGREEMENT, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE PERFORMANCE OR ENFORCEMENT OF ANY SUCH RIGHTS OR OBLIGATIONS.
Except as prohibited by law, the Company waives any right which it may have to claim or recover in any litigation referred to in the
preceding sentence any special, exemplary, punitive or consequential damages or any damages other than, or in addition to, actual damages.
The Company (a) certifies that neither the Secured Party nor any representative, agent or attorney of the Secured Party has represented,
expressly or otherwise, that the Secured Party would not, in the event of litigation, seek to enforce the foregoing waivers or other
waivers contained in this Agreement and (b) acknowledges that, in entering into this Agreement and any other Transaction Document to
which the Secured Party is a party, the Secured Party is relying upon, among other things, the waivers and certifications contained in
this §21.

 

45.
Notices.
All notices, requests and other communications hereunder shall be made in the manner set forth in the UPA.

 

46.
Miscellaneous.
The headings of each section of this Agreement are for convenience only and shall not define or limit the provisions thereof. This Agreement
and all rights and obligations hereunder shall be binding upon the Company and its successors and assigns, and shall inure to the benefit
of the Secured Party and its successors and assigns. If any term of this Agreement shall be held to be invalid, illegal or unenforceable,
the validity of all other terms hereof shall in no way be affected thereby, and this Agreement shall be construed and be enforceable
as if such invalid, illegal or unenforceable term had not been included herein. The Company acknowledges receipt of a copy of this Agreement.

 

47.
Appointment of Agent and Unitholder Representative.
In furtherance of the authority granted Secured Party pursuant to Section 2.2(b) of the Notes and under Section 1 of the Purchase Agreement
with respect to the right of the Majority in Interest of the Investors (as defined in the Purchase Agreement) to appoint a Unitholder
Representative, a Majority in Interest of the Investors hereby appoints Univest Securities LLC to act as their agent with respect to
administrating their rights under the Transaction Documents and to act as their Unitholder Representative upon the occurrence and Continuance
of an Event of Default (as defined in the applicable Transaction Document). The rights and obligations of Univest Securities LLC as Agent
and Unitholder Representative may be further described in one or more separate agreements. So long as an Unitholder Representative has
been duly appointed in accordance with the terms hereof and is carrying out its obligations under the Notes, no Investor other than the
Unitholder Representative may pursue any remedy with respect to the Notes in connection with an Event of Default.

 

[Signature
pages to follow]

 

    	 	106	 

    	 

    

 

IN
WITNESS WHEREOF, intending to be legally bound, the Company has caused this Agreement to be duly executed as of the date first above
written.

 

	 	MARIZYME,
    INC.
	 	 	 
	 	By:	           
	 	Name:	 
	 	Title:	 

 

CERTIFICATE
OF ACKNOWLEDGMENT

 

COMMONWEALTH
OR STATE OF                                                  )

                                                                                                                   )
ss.

COUNTY
OF                                                                                            )

 

Before
me, the undersigned, a Notary Public in and for the county aforesaid, on this __ day of May, 2021, personally appeared __________________
to me known personally, and who, being by me duly sworn, deposes and says that he/she is the _____________ of Marizyme, Inc. and that
said instrument was signed and sealed on behalf of said corporation by authority of its Board of Directors, and said ______________ acknowledged
said instrument to be the free act and deed of said corporation.

 

______________________________

(official signature and seal of notary)

 

My
commission expires:

 

[Signature
Pages of the Secured Parties follow]

 

    	 	107	 

    	 

    

 

Signature
Pages of the Secured Parties

 

Accepted
and agreed to:

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

	 	By:	 
	 	Name:	 
	 	Title:	 

 

    	 	108

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]