Document:

Exhibit
10.1

 

FLUX
POWER HOLDINGS, INC.

 

cOMMON
STOCK

 

SALES
AGREEMENT

 

December
21, 2020

 

H.C.
Wainwright & Co., LLC

430
Park Avenue

New
York, NY 10022

 

Ladies
and Gentlemen:

 

Flux
Power Holdings, Inc., a Nevada corporation (the “Company”), confirms its agreement (this “Agreement”)
with H.C. Wainwright & Co., LLC (“HCW”), as follows:

 

1.
 Issuance and Sale of Placement Shares. The Company agrees that, from time to
time during the term of this Agreement, on the terms and subject to the conditions set forth herein, and in its sole discretion,
it may issue and sell through or to HCW, as sales agent or principal, shares (the “Placement Shares”)
of the Company’s common stock, $0.001 par value per share (the “Common Stock”); provided however,
that in no event shall the Company issue or sell through or to HCW such number of Placement Shares that (a) exceeds the number
of shares or dollar amount of Common Stock registered on the effective Registration Statement (as defined below) pursuant to which
the offering is being made, (b) exceeds the number of shares or dollar amount registered on the Prospectus Supplement (as defined
below), or (c) would cause the Company to exceed the dollar amount limitations set forth in General Instruction I.B.6 of Form
S-3, if applicable (the lesser of (a), (b) or (c), the “Maximum Amount”). Notwithstanding anything to
the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this Section 1
on the number of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that
HCW shall have no obligation in connection with such compliance. The issuance and sale of Placement Shares through or to HCW will
be effected pursuant to the Registration Statement (as defined below), although nothing in this Agreement shall be construed as
requiring the Company to use the Registration Statement to issue any Placement Shares.

 

    	 

     

    

 

The
Company has filed, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations
thereunder (the “Securities Act”), with the Securities and Exchange Commission (the “Commission”),
a registration statement on Form S-3, including a base prospectus, relating to certain securities, including the Placement Shares
to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will
file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and the rules and regulations thereunder. The Company has prepared a prospectus supplement to the base prospectus included as
part of the registration statement, which prospectus supplement relates to the Placement Shares to be issued from time to time
by the Company pursuant to this Agreement (the “Prospectus Supplement”). The Company will furnish to
HCW, for use by HCW, copies of the base prospectus included as part of such registration statement, as supplemented by the Prospectus
Supplement, relating to the Placement Shares to be issued from time to time by the Company. The Company may file, if necessary,
one or more additional registration statements from time to time that will contain a base prospectus and related prospectus or
prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares. Except where
the context otherwise requires, such registration statement(s), and any post-effective amendment thereto, including all documents
filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined
below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such
registration statement(s) pursuant to Rule 430B of the Securities Act, is herein called the “Registration Statement.”
The base prospectus or base prospectuses, including all documents incorporated or deemed incorporated therein by reference, included
in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such prospectus or
prospectuses and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b)
under the Securities Act, together with the then issued Issuer Free Writing Prospectus(es), is herein called the “Prospectus.”

 

Any
reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer
to and include any documents deemed incorporated by reference therein (pursuant to the Securities Act or the Exchange Act) (the
“Incorporated Documents”), and any reference herein to the terms “amend,” “amendment”
or “supplement” with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include
the filing after the execution hereof of any Incorporated Document. For purposes of this Agreement, all references to the Registration
Statement, to the Prospectus, to the Incorporated Documents or to any amendment or supplement thereto shall be deemed to include
the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval System, or if
applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, “EDGAR”).

 

2.
 Placements. Each time that the Company wishes to issue and sell Placement Shares
hereunder (each, a “Placement”), it will notify HCW by email notice from a person identified on Schedule
2 (or other method mutually agreed to in writing by the parties) (a “Placement Notice”) containing
the parameters in accordance with which it desires the Placement Shares to be sold, which shall at a minimum include the number
or dollar value of Placement Shares to be issued, the time period during which sales are requested to be made, any limitation
on the number or dollar value of Placement Shares that may be sold in any one Trading Day (as defined in Section 3) and
any minimum price below which sales may not be made, a form of which containing such minimum sales parameters necessary is attached
hereto as Schedule 1. The Placement Notice shall originate from any of the individuals from the Company set forth
on Schedule 2 (with a copy to each of the other individuals from the Company listed on such schedule), and shall
be addressed to each of the individuals from HCW set forth on Schedule 2, as such Schedule 2 may be
amended from time to time. The receipt of each Placement Notice shall promptly be acknowledged by HCW by providing email notice
to the Company to a person designated on Schedule 2. The Placement Notice shall be effective upon receipt by HCW
unless and until (i) in accordance with the notice requirements set forth in Section 4, HCW declines to accept the terms
contained therein for any reason, in its sole discretion, (ii) the entire amount of the Placement Shares included in the Placement
Notice have been sold thereunder, (iii) in accordance with the notice requirements set forth in Section 4, the Company
suspends or terminates the Placement Notice, (iv) the Company issues a subsequent Placement Notice with parameters superseding
those on the earlier dated Placement Notice, or (v) this Agreement has been terminated under the provisions of Section 11.
The amount of any commission to be paid by the Company to HCW in connection with the sale of the Placement Shares shall be calculated
in accordance with the terms set forth in Schedule 3. It is expressly acknowledged and agreed that neither the Company
nor HCW will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers
a Placement Notice to HCW and HCW does not decline such Placement Notice pursuant to the terms set forth above, and then only
upon the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a
Placement Notice, the terms of the Placement Notice will control.

 

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3.
 Sale of Placement Shares by HCW.

 

(a)
 Subject to the terms and conditions herein set forth, upon the Company’s delivery
of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise
terminated in accordance with the terms of this Agreement, HCW, for the period specified in the Placement Notice, will use its
commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws,
rules and regulations and the rules of the Nasdaq Capital Market (the “Exchange”) to sell such Placement
Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. HCW will provide written
confirmation to the Company (including by email correspondence to each of the individuals of the Company set forth on Schedule
2, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other
than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading Day on
which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the compensation
payable by the Company to HCW pursuant to Section 2 with respect to such sales and the Net Proceeds (as defined below)
payable to the Company. HCW may sell Placement Shares by any method permitted by law deemed to be an “at the market offering”
as defined in Rule 415 of the Securities Act. Notwithstanding the provisions of Section 6(nn), HCW shall not purchase Placement
Shares for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice. The Company
acknowledges and agrees that (i) there can be no assurance that HCW will be successful in selling Placement Shares, and (ii) HCW
will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any
reason other than a failure by HCW to use its commercially reasonable efforts consistent with its normal trading and sales practices
to sell such Placement Shares as required under this Section 3. For the purposes hereof, “Trading Day”
means any day on which the Company’s Common Stock is purchased and sold on the Exchange.

 

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(b)
 Limitations on Offering Size. Under no circumstances shall the Company request
the offer or sale of any Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate number of
Placement Shares sold pursuant to this Agreement would exceed the lesser of (A) together with all sales of Placement Shares under
this Agreement, the Maximum Amount, and (B) the amount authorized from time to time to be issued and sold under this Agreement
by the Company’s board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified
to HCW in writing. Under no circumstances shall the Company request the offer or sale of any Placement Shares pursuant to this
Agreement at a price lower than the minimum price authorized from time to time by the Company’s board of directors, a duly
authorized committee thereof or a duly authorized executive committee, and notified to HCW in writing. Further, under no circumstances
shall the Company request the sale of Placement Shares pursuant to this Agreement in an aggregate offering amount that would exceed
the Maximum Amount.

 

4.
 Suspension of Sales.

 

(a) The
Company or HCW may, upon notice to the other party in writing (including by email correspondence to each of the individuals of
the other party set forth on Schedule 2, if receipt of such correspondence is actually acknowledged by any of the
individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile
transmission or email correspondence to each of the individuals of the other party set forth on Schedule 2), suspend
any sale of Placement Shares; provided, however, that such suspension shall not affect or impair either party’s obligations
with respect to any Placement Shares sold hereunder prior to the receipt of such notice. Each of the parties agrees that no such
notice under this Section 4 shall be effective against the other unless it is made to one of the individuals named on Schedule
2 hereto, as such schedule may be amended from time to time and in accordance with the notice delivery requirements of
this Section 4. While a suspension is in effect, any obligation under Sections 7(m), 7(n), and 7(o)
with respect to the delivery of certificates, opinions, or comfort letters to HCW shall be deemed waived.

 

(b) Notwithstanding
any other provision of this Agreement, during any period in which the Company is in possession of material non-public information,
the Company and HCW agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the sale of
any Placement Shares, and (iii) HCW shall not be obligated to sell or offer to sell any Placement Shares.

 

5.
 Settlement.

 

(a)
 Settlement of Placement Shares. Unless otherwise specified in the applicable
Placement Notice, settlement for sales of Placement Shares will occur on the second (2nd) Trading Day (or such earlier
day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement
Date” and the first such settlement date, the “First Delivery Date”). The amount of proceeds
to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the “Net Proceeds”)
will be equal to the aggregate sales price received by HCW at which such Placement Shares were sold, after deduction for (i) HCW’s
commission for such sales set forth on Schedule 3, (ii) any other amounts due and payable by the Company to HCW
hereunder pursuant to Section 7(g) (Expenses) hereof, and (iii) any transaction fees imposed by any governmental or self-regulatory
organization in respect of such sales.

 

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(b)
 Delivery of Placement Shares. On or before each Settlement Date, the Company
will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting HCW’s or
its designee’s account (provided HCW shall have given the Company written notice of such designee at least one Trading Day
prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System (“DWAC”)
or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable,
transferable, registered shares in good deliverable form. On each Settlement Date, HCW will deliver the related Net Proceeds in
same day funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company,
or its transfer agent (if applicable), defaults in its obligation to deliver duly authorized Placement Shares on a Settlement
Date through no fault of HCW, in addition to and in no way limiting the rights and obligations set forth in Section 9(a)
(Company Indemnification) hereto, it will (i) hold HCW harmless against any loss, claim, damage, or reasonable, documented expense
(including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default
by the Company, and (ii) pay to HCW any commission to which it would otherwise have been entitled absent such default.

 

6.
 Representations and Warranties of the Company. The Company represents and warrants
to, and agrees with, HCW that, as of the effective date of the Registration Statement, each Representation Date (as defined in
Section 7(m)), each date on which a Placement Notice is given, and any date on which Placement Shares are sold hereunder:

 

(a)
 Compliance with Registration Requirements. The Registration Statement and any
Rule 462(b) Registration Statement have been declared effective by the Commission under the Securities Act. The Company has complied
to the Commission’s satisfaction with all requests of the Commission for additional or supplemental information related
to the Registration Statement or the Prospectus. No stop order suspending the effectiveness of the Registration Statement or any
Rule 462(b) Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to
the best knowledge of the Company, are contemplated or threatened by the Commission.

 

(b)
 No Misstatement or Omission. The Prospectus when filed complied and, as amended
or supplemented, if applicable, will comply in all material respects with the Securities Act. Each of the Registration Statement,
any Rule 462(b) Registration Statement, the Prospectus and any post-effective amendments or supplements thereto, at the time it
became effective or its date, as applicable, and as of each of the Settlement Dates, if any, complied in all material respects
with the Securities Act and did not and, as of each Settlement Date, if any, did not and will not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein, or with respect to the Prospectus, necessary
to make the statements therein in the light of the circumstances under which they were made, not misleading. The Prospectus, as
amended or supplemented, as of its date, and as of each of the Settlement Dates, if any, will not contain any untrue statement
of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences
do not apply to statements in or omissions from the Registration Statement, any Rule 462(b) Registration Statement, or any post-effective
amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information
relating to HCW furnished to the Company in writing by HCW expressly for use therein. There are no contracts or other documents
required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described
or filed as required.

 

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(c)
 Not an Ineligible Issuer. The Company currently is not an “ineligible issuer,”
as defined in Rule 405 of the rules and regulation of the Commission. The Company agrees to notify HCW promptly upon the Company
becoming an “ineligible issuer.”

 

(d)
 Distribution of Offering Material by the Company. The Company has not distributed
and will not distribute, prior to the completion of HCW’s distribution of the Placement Shares, any offering material in
connection with the offering and sale of the Placement Shares other than the Prospectus or the Registration Statement.

 

(e)
 The Sales Agreement. This Agreement has been duly authorized, executed and delivered
by, and is a valid and binding agreement of, the Company, enforceable in accordance with its terms, except as rights to indemnification
and contribution hereunder may be limited by applicable law and public policy considerations and except as the enforcement hereof
may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights
and remedies of creditors or by general equitable principles.

 

(f)
 S-3 Eligibility. (i) At the time of filing the Registration Statement and (ii)
at the time of the most recent amendment thereto for the purposes of complying with Section 10(a)(3) of the Securities Act (whether
such amendment was by post-effective amendment, incorporated report filed pursuant to Section 13 or 15(d) of the Exchange Act
or form of prospectus), the Company met the then applicable requirements for use of Form S-3 under the Securities Act, including
compliance with General Instruction I.B.6 of Form S-3, if applicable. As of the close of trading on the Exchange on the Trading
Day immediately prior to the date of this Agreement, the aggregate market value of the outstanding voting and non-voting common
equity (as defined in Rule 405) of the Company held by persons other than affiliates of the Company (pursuant to Rule 144 of the
Securities Act, those that directly, or indirectly through one or more intermediaries, control, or are controlled by, or are under
common control with, the Company) (the “Non-Affiliate Shares”), was approximately $91.27 million (calculated
by multiplying (x) the price at which the common equity of the Company was last sold on the Exchange on December 15, 2020, a Trading
Day within 60 days of this Agreement times (y) the number of Non-Affiliate Shares). The Company is not a shell company (as defined
in Rule 405) and has not been a shell company for at least 12 calendar months previously and if it has been a shell company at
any time previously, has filed current Form 10 information (as defined in Instruction I.B.6 of Form S-3) with the Commission at
least 12 calendar months previously reflecting its status as an entity that is not a shell company.

 

(g)
 Authorization of the Placement Shares. The Placement Shares, when issued and
delivered, will be duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company
against payment therefor pursuant to this Agreement, will be validly issued, fully paid and nonassessable.

 

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(h)
 No Applicable Registration or Other Similar Rights. Except as otherwise disclosed
in the Prospectus, there are no persons with registration or other similar rights to have any equity or debt securities registered
for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as
have been duly waived.

 

(i)
 No Material Adverse Change. Except as otherwise disclosed in the Prospectus,
subsequent to the respective dates as of which information is given in the Prospectus: (i) there has been no material adverse
change, or any development that could reasonably be expected to result in a material adverse change, in the condition, financial
or otherwise, or in the earnings, business, operations or prospects, whether or not arising from transactions in the ordinary
course of business, of the Company and its subsidiaries, considered as one entity (any such change is called a “Material
Adverse Change”); (ii) the Company and its subsidiaries, considered as one entity, have not incurred any material
liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor entered into any material
transaction or agreement not in the ordinary course of business: and (iii) there has been no dividend or distribution of any kind
declared, paid or made by the Company or, except for regular quarterly dividends publicly announced by the Company or dividends
paid to the Company or other subsidiaries, by any of its subsidiaries on any class of capital stock or repurchase or redemption
by the Company or any of its subsidiaries of any class of capital stock.

 

(j)
 Independent Accountants. Baker Tilly US, LLP, who has expressed its opinion with
respect to the financial statements (which term as used in this Agreement includes the related notes thereto) and supporting schedules
filed with the Commission or incorporated by reference as a part of the Registration Statement and included in the Prospectus,
is an independent registered public accounting firm as required by the Securities Act and the Exchange Act.

 

(k)
 Preparation of the Financial Statements. The financial statements, together with
related notes and schedules, filed with the Commission as a part of or incorporated by reference in the Registration Statement
and included in the Prospectus present fairly, in all material respects, the consolidated financial position of the Company and
its subsidiaries as of and at the dates indicated and the results of their operations and cash flows for the periods specified.
The supporting schedules included in or incorporated in the Registration Statement present fairly the information required to
be stated therein. Such financial statements and supporting schedules have been prepared in accordance with generally accepted
accounting principles as applied in the United States (“U.S. GAAP”) applied on a consistent basis throughout
the periods involved, except as may be expressly stated in the related notes thereto. No other financial statements or supporting
schedules are required to be included in or incorporated in the Registration Statement.

 

(l)
 XBRL. The interactive data in eXtensible Business Reporting Language included
or incorporated by reference in the Registration Statement fairly presents the information called for in all material respects
and has been prepared in accordance with the Commission’s rules and guidelines applicable thereto.

 

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(m)
 Incorporation and Good Standing of the Company and its Subsidiaries. The Company
has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Nevada and
has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus
and to enter into and perform its obligations under this Agreement. Each subsidiary of the Company has been duly organized and
is validly existing as a corporation in good standing under the laws of the jurisdiction of its organization and has the requisite
power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus. Each
of the Company and the subsidiaries is duly qualified as a foreign corporation or foreign partnership to transact business and
is in good standing in each jurisdiction in which such qualification is required, whether by reason of the ownership or leasing
of property or the conduct of business, except for such jurisdictions where the failure to so qualify or to be in good standing
would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change. Except as described
in the Prospectus, all of the issued and outstanding capital stock or other equity interests of the subsidiaries have been duly
authorized and validly issued, are fully paid and nonassessable and are owned by the Company free and clear of any security interest,
mortgage, pledge, lien, encumbrance or adverse claim. The Company does not own or control, directly or indirectly, any corporation,
association or other entity other than the subsidiaries listed in Exhibit 21.1 to the Company’s Annual Report on Form 10-K
for the most recently ended fiscal year and other than (i) those subsidiaries not required to be listed on Exhibit 21.1 by Item
601 of Regulation S-K under the Exchange Act and (ii) those subsidiaries formed or acquired since the last day of the most recently
ended fiscal year.

 

(n)
 Capital Stock Matters. Since the most recent date such information was included
in the Prospectus, there has been no material change in the authorized, issued and outstanding capital stock of the Company (other
than for subsequent issuances, if any, pursuant to employee benefit plans described in the Prospectus, upon the exercise of outstanding
options or warrants described in the Prospectus, as a result of sales of Placement Shares hereunder or as otherwise described
in any document incorporated by reference in the Prospectus). The shares of Common Stock conform in all material respects to the
description thereof contained in the Prospectus. All of the issued and outstanding shares of Common Stock have been duly authorized
and validly issued, are fully paid and nonassessable and have been issued in compliance with federal and state securities laws.
None of the outstanding shares of Common Stock were issued in violation of any preemptive rights, rights of first refusal or other
similar rights to subscribe for or purchase securities of the Company. There are no authorized or outstanding options, warrants,
preemptive rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable
or exercisable for, any capital stock of the Company or any of its subsidiaries other than those accurately described in all material
respects in the Prospectus. The description of the Company’s stock option, stock bonus and other stock plans or arrangements,
and the options or other rights granted thereunder, set forth in the Prospectus accurately and fairly presents in all material
respects the information required to be shown with respect to such plans, arrangements, options and rights under the Exchange
Act or the Securities Act, as applicable.

 

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(o)
 Non-Contravention of Existing Instruments; No Further Authorizations or Approvals
Required. Neither the Company nor any of its subsidiaries is in violation of its charter or by-laws or is in default (or,
with the giving of notice or lapse of time, would be in default) (“Default”) under any indenture, mortgage,
loan or credit agreement, note, contract, franchise, lease or other instrument to which the Company or any of its subsidiaries
is a party or by which it or any of them may be bound, or to which any of the property or assets of the Company or any of its
subsidiaries is subject (each, an “Existing Instrument”), except for such Defaults as would not, individually
or in the aggregate, result in a Material Adverse Change. The Company’s execution, delivery and performance of this Agreement
and consummation of the transactions contemplated hereby and by the Prospectus (i) have been duly authorized by all necessary
corporate action and will not result in any violation of the provisions of the charter or by-laws of the Company or any subsidiary,
(ii) will not conflict with or constitute a breach of, or Default under, or result in the creation or imposition of any lien,
charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or require the consent
of any other party to, any Existing Instrument, except for such conflicts, breaches, Defaults, liens, charges or encumbrances
as would not, individually or in the aggregate, result in a Material Adverse Change and (iii) will not result in any violation
of any law, administrative regulation or administrative or court decree applicable to the Company or any subsidiary. No consent,
approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority
or agency, is required for the Company’s execution, delivery and performance of this Agreement and consummation of the transactions
contemplated hereby and by the Prospectus, except such as have been obtained or made by the Company and are in full force and
effect under the Securities Act, or that may be required under applicable state securities or blue sky laws and from the Financial
Industry Regulatory Authority (“FINRA”) or the Exchange.

 

(p)
 No Material Actions or Proceedings. Except as disclosed in the Prospectus, there
are no legal or governmental actions, suits or proceedings pending or, to the best of the Company’s knowledge, threatened
(i) against or affecting the Company or any of its subsidiaries, (ii) which has as the subject thereof any officer or director
of, or property owned or leased by, the Company or any of its subsidiaries or (iii) relating to environmental or discrimination
matters, where in any such case (A) there is a reasonable possibility that such action, suit or proceeding might be determined
adversely to the Company or such subsidiary and (B) any such action, suit or proceeding, if so determined adversely, would result
in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement. No material
labor dispute with the employees of the Company or any of its subsidiaries exists or, to the Company’s knowledge, is threatened
or imminent.

 

(q)
 All Necessary Permits, etc. The Company and each subsidiary possess such valid
and current certificates, authorizations or permits issued by the appropriate state, federal or foreign regulatory agencies or
bodies necessary to conduct their respective businesses as currently conducted and described in the Prospectus, other than those
the failure to possess or own would not result in a Material Adverse Change, and neither the Company nor any subsidiary has received
any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization
or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, could result in a Material
Adverse Change.

 

(r)
 Title to Properties. The Company and the subsidiaries have good and marketable
title to all of the real and personal property and other assets owned by them, in each case free and clear of any security interests,
mortgages, liens, encumbrances, equities, adverse claims and other defects, except such as are described in the Prospectus or
as do not materially and adversely affect the value of such property and do not materially interfere with the use made or proposed
to be made of such property by the Company or a subsidiary. To the Company’s knowledge, the real property, improvements,
equipment and personal property held under lease by the Company or the subsidiaries are held under valid and enforceable leases,
with such exceptions as are described in the Prospectus or are not material and do not materially interfere with the use made
or proposed to be made of such real property, improvements, equipment or personal property by the Company or the subsidiaries.

 

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(s)
 Tax Law Compliance. Subject to any permitted extensions, the Company and its
consolidated subsidiaries have filed all necessary federal, state and foreign income, property and franchise tax returns (or have
properly requested extensions thereof) and have paid all taxes required to be paid by any of them and, if due and payable, any
related or similar assessment, fine or penalty levied against any of them except as may be being contested in good faith and by
appropriate proceedings. The Company has made adequate charges, accruals and reserves in the applicable financial statements referred
to in Section 6(k) above in respect of all federal, state and foreign income, property and franchise taxes for all periods
as to which the tax liability of the Company or any of its consolidated subsidiaries has not been finally determined.

 

(t)
 Company Not an “Investment Company”. The Company has been advised
of the rules and requirements under the Investment Company Act of 1940, as amended (the “Investment Company Act”).
The Company is not, and after receipt of payment for the Placement Shares will not be, an “investment company” within
the meaning of the Investment Company Act and will conduct its business in a manner so that it will not become subject to the
Investment Company Act.

 

(u)
 Insurance. Except as otherwise described in the Prospectus, each of the Company
and its subsidiaries are insured by insurers of recognized financial responsibility with policies in such amounts and with such
deductibles and covering such risks as are generally deemed prudent and customary for their respective businesses as currently
conducted and described in the Prospectus. The Company has no reason to believe that it or any subsidiary will not be able (i)
to renew its existing insurance coverage as and when such policies expire or (ii) to obtain comparable coverage from similar institutions
as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material
Adverse Change.

 

(v)
 No Price Stabilization or Manipulation. The Company has not taken and will not
take, directly or indirectly, any action designed to or that might be reasonably expected to cause or result in stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares or otherwise,
and has taken no action which would directly or indirectly violate Regulation M.

 

(w)
 Related Party Transactions. There are no business relationships or related-party
transactions, as defined in Item 404 of Regulation S-K under the Exchange Act, involving the Company or any subsidiary or any
other person required to be described in the Prospectus which have not been described as required therein.

 

(x)
 Exchange Act Compliance. The Incorporated Documents, at the time they were or
hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange
Act, and, when read together with the other information in the Prospectus, at the Settlement Dates, will not 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 fact required
to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made,
not misleading.

 

    	- 10 -

     

    

 

(y)
 No Unlawful Contributions or Other Payments. Neither the Company nor any of its
subsidiaries nor, to the Company’s knowledge, any employee or agent of the Company or any subsidiary, has made any contribution
or other payment to any official of, or candidate for, any federal, state or foreign office in violation of any law or of the
character required to be disclosed in the Registration Statement and the Prospectus. Neither the Company nor any of its subsidiaries
nor, to the Company’s knowledge, any director, officer, employee or agent of the Company or any subsidiary acting on behalf
of the Company or any of its subsidiaries has taken any action, directly or indirectly, that would result in a violation by such
persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”),
including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance
of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or
authorization of the giving of anything of value to any “foreign official” (as such term is defined in the FCPA) or
any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA and
the Company and, to the knowledge of the Company, its controlled affiliates have conducted their businesses in compliance with
the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue
to ensure, continued compliance therewith.

 

(z)
 Compliance with Money Laundering Laws. The operations of the Company and its
subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements
of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions,
the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced
by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding
by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

 

(aa)
Compliance with OFAC. None of the Company, any of its subsidiaries or, to the knowledge of the Company, any director,
officer, agent, employee or affiliate of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered
by the Office of Foreign Office Control of the U.S. Department of the Treasury (“OFAC”); and the Company
will not, directly or indirectly, use the proceeds of the offering of the Placement Shares hereunder, or lend, contribute or otherwise
make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing
the activities of any person currently subject to any U.S. sanctions administered by OFAC.

 

    	- 11 -

     

    

 

(bb)
Company’s Accounting System. The Company maintains a system of “internal control over financial reporting”
(as such term is defined in Rule 13a-15(f) of the General Rules and Regulations under the Exchange Act (the “Exchange
Act Rules”)) that complies with the requirements of the Exchange Act and has been designed by its principal executive
and principal financial officers, or under their supervision, to provide reasonable assurances 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 U.S. GAAP and to maintain accountability for assets; (iii) access to assets
is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability
for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
Except as described in the Prospectus, since the end of the Company’s most recent audited fiscal year, there has been (A)
no material weakness in the Company’s internal control over financial reporting (whether or not remediated) and (B) no change
in the Company’s internal control over financial reporting that has materially affected, or is reasonably likely to materially
affect, the Company’s internal control over financial reporting.

 

(cc)
Disclosure Controls. The Company maintains disclosure controls and procedures (as such is defined in Rule 13a-15(e)
of the Exchange Act Rules) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have
been designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the
Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission’s rules
and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s
management to allow timely decisions regarding disclosures. To the extent required by the Exchange Act Rules, the Company has
conducted evaluations of the effectiveness of its disclosure controls as required by Rule 13a-15 of the Exchange Act.

 

(dd)
Compliance with Environmental Laws. Except as otherwise described in the Prospectus, and except as would not, individually
or in the aggregate, result in a Material Adverse Change (i) neither the Company nor any of its subsidiaries is in violation of
any federal, state, local or foreign law or regulation relating to pollution or protection of human health or the environment
(including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including
without limitation, laws and regulations relating to emissions, discharges, releases or threatened releases of chemicals, pollutants,
contaminants, wastes, toxic substances, hazardous substances, petroleum and petroleum products (collectively, “Materials
of Environmental Concern”), or otherwise relating to the manufacture, processing, distribution, use, treatment,
storage, disposal, transport or handling of Materials of Environmental Concern (collectively, “Environmental Laws”),
which violation includes, but is not limited to, noncompliance with any permits or other governmental authorizations required
for the operation of the business of the Company or its subsidiaries under applicable Environmental Laws, or noncompliance with
the terms and conditions thereof, nor has the Company or any of its subsidiaries received any written communication, whether from
a governmental authority, citizens group, employee or otherwise, that alleges that the Company or any of its subsidiaries is in
violation of any Environmental Law; (ii) there is no claim, action or cause of action filed with a court or governmental authority,
no investigation with respect to which the Company has received written notice, and no written notice by any person or entity
alleging potential liability for investigatory costs, cleanup costs, governmental responses costs, natural resources damages,
property damages, personal injuries, attorneys’ fees or penalties arising out of, based on or resulting from the presence,
or release into the environment, of any Material of Environmental Concern at any location owned, leased or operated by the Company
or any of its subsidiaries, now or in the past (collectively, “Environmental Claims”), pending or, to
the Company’s knowledge, threatened against the Company or any of its subsidiaries or any person or entity whose liability
for any Environmental Claim the Company or any of its subsidiaries has retained or assumed either contractually or by operation
of law; and (iii) to the best of the Company’s knowledge, there are no past or present actions, activities, circumstances,
conditions, events or incidents, including, without limitation, the release, emission, discharge, presence or disposal of any
Material of Environmental Concern, that reasonably could result in a violation of any Environmental Law or form the basis of a
potential Environmental Claim against the Company or any of its subsidiaries or against any person or entity whose liability for
any Environmental Claim the Company or any of its subsidiaries has retained or assumed either contractually or by operation of
law.

 

    	- 12 -

     

    

 

(ee)
 Intellectual Property. Except as disclosed in the Registration Statement or the Prospectus, the Company and its subsidiaries
own or possess the valid right to use all (i) valid and enforceable patents, patent applications, trademarks, trademark registrations,
service marks, service mark registrations, Internet domain name registrations, copyrights, copyright registrations, licenses and
trade secret rights (“Intellectual Property Rights”) and (ii) inventions, software, works of authorships,
trademarks, service marks, trade names, databases, formulae, know how, Internet domain names and other intellectual property (including
trade secrets and other unpatented and/or unpatentable proprietary confidential information, systems, or procedures) (collectively,
“Intellectual Property Assets”) necessary to conduct their respective businesses as currently conducted,
except to the extent that the failure to own, possess, license or have other rights to use such Intellectual Property Rights or
Intellectual Property Assets would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Change. The Company and its subsidiaries have not received any opinion from their legal counsel concluding that any activities
of their respective businesses infringe, misappropriate, or otherwise violate, valid and enforceable Intellectual Property Rights
of any other person, and have not received written notice of any challenge, which is to their knowledge still pending, by any
other person to the rights of the Company and its subsidiaries with respect to any Intellectual Property Rights or Intellectual
Property Assets owned or used by the Company or its subsidiaries. To the knowledge of the Company, the Company and its subsidiaries’
respective businesses as now conducted do not constitute infringement of, misappropriation of, or other violation of, any valid
and enforceable Intellectual Property Rights of any other person. All licenses for the use of the Intellectual Property Rights
described in the Prospectus to which the Company is a party are, to the Company’s knowledge, valid, binding upon, and enforceable
by or against the parties thereto in accordance with their terms. The Company has complied in all material respects with, and
is not in material breach nor has received any written notice of any asserted or threatened claim of breach of, any license agreement
pursuant to which Intellectual Property Rights have been licensed to or by the Company (the “Intellectual Property
Licensed Agreements”), and the Company has no knowledge of any material breach by any other person to any Intellectual
Property License Agreement. Except as described in the Prospectus, no claim has been made in writing against the Company alleging
the infringement by the Company of any patent, trademark, service mark, trade name, copyright, trade secret, license in or other
intellectual property right or franchise right of any person. The Company has taken all reasonable steps to protect, maintain
and safeguard its Intellectual Property Rights, including the execution of appropriate nondisclosure and confidentiality agreements.
The consummation of the transactions contemplated by this Agreement will not result in the loss or impairment of or payment of
any additional amounts with respect to, nor require the consent of any other person in respect of, the Company’s right to own,
use, or hold for use any of the Intellectual Property Rights as owned, used or held by the Company for use in the conduct of the
business as currently conducted.

 

    	- 13 -

     

    

 

(ff)
Compliance with Applicable Laws. The Company has not been advised, and has no reason to believe, that it and each of
its subsidiaries are not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions
in which it is conducting business, except where failure to be so in compliance would not reasonably be expected to result in
a Material Adverse Change.

 

(gg)
Statistical and Market-Related Data. The statistical, demographic and market-related data included in the Registration
Statement and the Prospectus, as of the date or dates to which they speak, are based on or derived from sources that the Company
believes to be reliable and accurate or represent the Company’s good faith estimates that are made on the basis of data
derived from such sources.

 

(hh)
ERISA Compliance. The Company and its subsidiaries and any “employee benefit plan” (as defined under
the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder
(collectively, “ERISA”)) established or maintained by the Company, its subsidiaries or their “ERISA
Affiliates” (as defined below) are, to their knowledge, in compliance in all material respects with ERISA. “ERISA
Affiliate” means, with respect to the Company or a subsidiary, any member of any group of organizations described in
Sections 414(b), (c),(m) or (o) of the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations
thereunder (the “Code”) of which the Company or such subsidiary is a member. Except as described in
the Prospectus, no “reportable event” (as defined under ERISA) has occurred or is reasonably expected to occur
with respect to any “employee benefit plan” established or maintained by the Company, its subsidiaries or any
of their ERISA Affiliates. Except as described in the Prospectus, no “employee benefit plan” established or
maintained by the Company, its subsidiaries or any of their ERISA Affiliates, if such “employee benefit plan”
were terminated, would have any “amount of unfunded benefit liabilities” (as defined under ERISA). Except as
described in the Prospectus, neither the Company, its subsidiaries nor any of their ERISA Affiliates has incurred or reasonably
expects to incur any liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any “employee
benefit plan” or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each “employee benefit plan”
established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates that is intended to be qualified under
Section 401(a) of the Code is so qualified and, except as described in the Prospectus, nothing has occurred, whether by action
or failure to act, which would reasonably be expected to result in the loss of such qualification.

 

(ii)
 Listing. The Company is subject to and in compliance in all material respects
with the reporting requirements of Section 13 or Section 15(d) of the Exchange Act. The Common Stock is registered pursuant to
Section 12(b) or Section 12(g) of the Exchange Act and is listed on the Exchange, and the Company has taken no action designed
to, or reasonably likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting
the Common Stock from the Exchange, nor, except as disclosed in the Registration Statement and Prospectus, has the Company received
any notification that the Commission or the Exchange is contemplating terminating such registration or listing.

 

    	- 14 -

     

    

 

(jj)
Brokers. Except for HCW, there is no broker, finder or other party that is entitled to receive from the Company any
brokerage or finder’s fee or other fee or commission as a result of any transactions contemplated by this Agreement.

 

(kk)
No Outstanding Loans or Other Indebtedness. Except as described in the Prospectus, there are no outstanding loans,
advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the
Company to or for the benefit of any of the officers or directors of the Company or any of the immediate family members of any
of them.

 

(ll)
FINRA Matters. All of the information provided to HCW or to counsel for HCW by the Company, its officers and, to the
Company’s knowledge, directors and the holders of any securities (debt or equity) or options to acquire any securities of
the Company in connection with letters, filings or other supplemental information provided to FINRA pursuant to FINRA Rule 5110
is true, complete and correct in all material respects.

 

(mm)
No Reliance. The Company has not relied upon HCW or legal counsel for HCW for any legal, tax or accounting advice in
connection with the offering and sale of the Placement Shares.

 

(nn)
HCW Purchases. The Company acknowledges and agrees that HCW has informed the Company that HCW may, to the extent permitted
under the Securities Act, the Exchange Act and this Agreement, purchase and sell shares of Common Stock for its own account while
this Agreement is in effect.

 

Any
certificate signed by an authorized officer of the Company and required to be delivered to HCW or to counsel for HCW in connection
with this Agreement shall be deemed to be a representation and warranty by the Company to HCW as to the matters set forth therein.

 

The
Company acknowledges that HCW and, for purposes of the opinions to be delivered pursuant to Section 7 hereof, counsel to
the Company and counsel to HCW, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents
to such reliance.

 

    	- 15 -

     

    

 

7.
 Covenants of the Company. The Company covenants and agrees with HCW that:

 

(a)
 Registration Statement Amendments. After the date of this Agreement and during
any period in which a Prospectus relating to any Placement Shares is required to be delivered by HCW under the Securities Act
(including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), (i) the Company
will notify HCW promptly of the time when any subsequent amendment to the Registration Statement, other than any Incorporated
Documents or amendments not related to any Placement Shares, has been filed with the Commission and/or has become effective or
any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement
to the Registration Statement or Prospectus related to any Placement Shares or for additional information related to any Placement
Shares, (ii) the Company will prepare and file with the Commission, promptly upon HCW’s reasonable request, any amendments
or supplements to the Registration Statement or Prospectus that, in HCW’s reasonable opinion and upon the advice of the
Company’s legal counsel, may be necessary or advisable in connection with the distribution of the Placement Shares by HCW
(provided, however, that the failure of HCW to make such request shall not relieve the Company of any obligation or liability
hereunder, or affect HCW’s right to rely on the representations and warranties made by the Company in this Agreement and
provided, further, that the only remedy HCW shall have with respect to the failure to make such filing shall be to cease making
sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement
to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Shares
or a security convertible into the Placement Shares unless a copy thereof has been submitted to HCW within a reasonable period
of time before the filing and HCW has not reasonably objected thereto (provided, however, that (A) the failure of HCW to
make such objection shall not relieve the Company of any obligation or liability hereunder, or affect HCW’s right to rely
on the representations and warranties made by the Company in this Agreement, (B) the Company has no obligation to provide HCW
any advance copy of such filing or to provide HCW an opportunity to object to such filing if the filing does not name HCW or does
not relate to the transaction herein provided, and (C) the only remedy HCW shall have with respect to the failure by the Company
to provide HCW with such copy or the filing of such amendment or supplement despite HCW’s objection shall be to cease making
sales under this Agreement) and the Company will furnish to HCW at the time of filing thereof a copy of any document that upon
filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available
via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by
reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act.

 

(b)
 Notice of Commission Stop Orders. The Company will advise HCW, promptly after
it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending
the effectiveness of the Registration Statement or of any order preventing or suspending the use of the Prospectus, of the suspension
of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of
any proceeding for any such purpose or of any request by the Commission for the amending or supplementing of the Registration
Statement or the Prospectus; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop
order or of any order preventing or suspending the use of the Prospectus or suspending any such qualification, or, to obtain its
withdrawal if such a stop order should be issued.

 

(c)
 Delivery of Prospectus; Subsequent Changes. During any period in which a Prospectus
relating to the Placement Shares is required to be delivered by HCW under the Securities Act with respect to a pending sale of
the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities
Act), the Company will use its commercially reasonable efforts to comply with all requirements imposed upon it by the Securities
Act, as from time to time in force, and to file on or before their respective due dates (taking into account any extensions available
under the Exchange Act) all reports and any definitive proxy or information statements required to be filed by the Company with
the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act. If during such
period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances
then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus
to comply with the Securities Act, the Company will promptly notify HCW to suspend the offering of Placement Shares during such
period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company)
so as to correct such statement or omission or effect such compliance.

 

    	- 16 -

     

    

 

(d)
 Listing of Placement Shares. During any period in which the Prospectus relating
to the Placement Shares is required to be delivered by HCW under the Securities Act with respect to a pending sale of the Placement
Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the
Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on the Exchange and to qualify
the Placement Shares for sale under the securities laws of such jurisdictions as HCW reasonably designates and to continue such
qualifications in effect so long as required for the distribution of the Placement Shares; provided, however, that the
Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or file a general
consent to service of process in any jurisdiction.

 

(e)
 Delivery of Registration Statement and Prospectus. The Company will furnish to
HCW and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all Incorporated
Documents) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during
any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including
all Incorporated Documents), in each case as soon as reasonably practicable and in such quantities as HCW may from time to time
reasonably request and, at HCW’s request, will also furnish copies of the Prospectus to each exchange or market on which
sales of the Placement Shares may be made; provided, however, that the Company shall not be required to furnish any document
(other than the Prospectus) to HCW to the extent such document is available on EDGAR.

 

(f)
 Earnings Statement. The Company will make generally available to its security
holders as soon as practicable, but in any event not later than 15 months after the end of the Company’s current fiscal
quarter, an earnings statement covering a 12-month period that satisfies the provisions of Section 11(a) and Rule 158 of the Securities
Act. For the avoidance of doubt, the Company’s compliance with the reporting requirements of the Exchange Act shall be deemed
to satisfy the requirements of this Section 7(f).

 

    	- 17 -

     

    

 

(g)
 Expenses. The Company, whether or not the transactions contemplated hereunder
are consummated or this Agreement is terminated, in accordance with the provisions of Section 11 hereunder, will pay all
of its own expenses incident to the performance of its obligations under this Agreement, including (i) the preparation, filing,
including any fees required by the Commission, and printing of the Registration Statement (including financial statements and
exhibits) as originally filed and of each amendment and supplement thereto and each Free Writing Prospectus, in such number as
HCW shall deem reasonably necessary, (ii) the printing and delivery to HCW of this Agreement and such other documents as may be
required by HCW in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii) the preparation,
issuance and delivery of the certificates, if any, for the Placement Shares to HCW, including any stock or other transfer taxes
and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the Placement Shares
to HCW, (iv) the fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the legal fees of counsel
to HCW reasonably incurred in connection with entering into the transactions contemplated by this Agreement in an amount not to
exceed $50,000 in the aggregate, and the quarterly legal fees of counsel to HCW reasonably incurred in connection with HCW’s
ongoing diligence, drafting and other filing requirements arising from the transactions contemplated by this Agreement in an amount
not to exceed $2,500 in the aggregate per calendar quarter; (vi) the fees and expenses of the transfer agent and registrar for
the Common Stock, (vii) the filing fees incident to any review by FINRA of the terms of the sale of the Placement Shares, (viii)
the fees and expenses incurred in connection with the listing of the Placement Shares on the Exchange, and (ix) all trading, execution,
settlement, or wiring fees incurred by HCW in connection with the sale of the Placement Shares.

 

(h)
 Use of Proceeds. The Company will use the Net Proceeds as described in the Prospectus
in the section entitled “Use of Proceeds.”

 

(i)
 Notice of Other Sales. During the pendency of any Placement Notice given hereunder,
and for five (5) Trading Days following the termination of any Placement Notice given hereunder, the Company shall provide HCW
notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells, grants any option to sell or otherwise
disposes of any shares of Common Stock (other than Placement Shares offered pursuant to the provisions of this Agreement) or securities
convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire Common Stock; provided,
that such notice shall not be required in connection with (i) the issuance, grant or sale of Common Stock, options to purchase
shares of Common Stock or any other equity awards, or Common Stock issuable upon the exercise of options or other equity awards
pursuant to any stock option, stock bonus, employee stock purchase or other stock plan or arrangement described in the Prospectus,
(ii) the issuance, grant or sale of Common Stock, or securities convertible into or exercisable for Common Stock, in connection
with any joint venture, commercial, strategic or collaborative relationship, or the acquisition or license by the Company of the
securities, businesses, property or other assets of another person or entity, (iii) the issuance or sale of Common Stock pursuant
to any dividend reinvestment plan that the Company may adopt from time to time provided the implementation of such is disclosed
to HCW in advance or (iv) any shares of Common Stock issuable upon the exchange, conversion or redemption of securities or the
exercise or vesting of warrants, options or other rights in effect or outstanding. Notwithstanding the foregoing provisions, nothing
herein shall be construed to restrict the Company’s ability to file a registration statement under the Securities Act, including
another prospectus supplement in connection with the Registration Statement for the issuance of shares other than the Placement
Shares.

 

    	- 18 -

     

    

 

(j)
 Change of Circumstances. The Company will, at any time during a fiscal quarter
in which the Company intends to tender a Placement Notice or sell Placement Shares, advise HCW promptly after it shall have received
notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion,
certificate, letter or other document required to be provided to HCW pursuant to this Agreement.

 

(k)
 Due Diligence Cooperation. During the term of this Agreement, the Company will
cooperate with any reasonable due diligence review conducted by HCW or its agents in connection with the transactions contemplated
hereby, including, without limitation, providing information and making available documents and senior corporate officers, during
regular business hours and at the Company’s principal offices, as HCW may reasonably request.

 

(l)
 Required Filings Relating to Placement of Placement Shares. To the extent that
the filing of a prospectus supplement with the Commission with respect to a placement of Placement Shares is required under Rule
424(b) under the Securities Act, the Company agrees that on or before such dates as the Securities Act shall require, the Company
will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act
(each and every filing under Rule 424(b), a “Filing Date”), which prospectus supplement will set forth,
to the extent required, within the relevant period, the amount of Placement Shares sold through HCW, the Net Proceeds to the Company
and the compensation payable by the Company to HCW with respect to such Placement Shares (provided that the Company may satisfy
its obligations under this Section 7(l)(i) by effecting a filing in accordance with the Exchange Act with respect to such information),
and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were
effected as may be required by the rules or regulations of such exchange or market.

 

(m)
 Representation Dates; Certificate. On or prior to the First Delivery Date and
each time the Company (i) amends or supplements the Registration Statement or the Prospectus relating to the Placement Shares
(other than a prospectus supplement filed in accordance with Section 7(l) of this Agreement) by means of a post-effective amendment,
sticker, or supplement but not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectus
relating to the Placement Shares; (ii) files an annual report on Form 10-K under the Exchange Act; (iii) files its quarterly reports
on Form 10-Q under the Exchange Act; or (iv) files a current report on Form 8-K under the Exchange Act containing amended audited
financial information (other than information “furnished” pursuant to Items 2.02 or 7.01 of Form 8-K under the Exchange
Act or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassification of certain properties as discontinued
operations in accordance with Statement of Financial Accounting Standards No. 144 under the Exchange Act) (each date of filing
of one or more of the documents referred to in clauses (i) through (iv) shall be a “Representation Date”);
the Company shall furnish HCW with a certificate, in the form attached hereto as Exhibit 7(m) within five (5) Trading Days
of any Representation Date if requested by HCW. The requirement to provide a certificate under this Section 7(m) shall be automatically
waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until
the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered
a Representation Date, including for purposes of Sections 7(n) and 7(o) hereof) and the next occurring Representation Date; provided,
however, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form
10-K. Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date
when the Company relied on such waiver and did not provide HCW with a certificate under this Section 7(m), then before
the Company delivers the Placement Notice or HCW sells any Placement Shares, the Company shall provide HCW with a certificate,
in the form attached hereto as Exhibit 7(m), dated the date of the Placement Notice.

 

    	- 19 -

     

    

 

(n)
 Legal Opinion. (i) On or prior to the First Delivery Date, the Company shall
cause to be furnished to HCW a written opinion and negative assurance letter of Lewis Brisbois Bisgaard & Smith LLP, or other
counsel reasonably satisfactory to HCW (“Company Counsel”), in form and substance reasonably satisfactory
to HCW and its counsel, dated the date that such opinion and negative assurance letter are required to be delivered and (ii) within
the later of (A) five (5) Trading Days of each Representation Date following the First Delivery Date with respect to which the
Company is obligated to deliver a certificate in the form attached hereto as Exhibit 7(m) and (B) the date a Placement
Notice is first delivered by the Company following a Representation Date, the Company shall cause to be furnished to HCW a negative
assurance letter of Company Counsel in form and substance reasonably satisfactory to HCW and its counsel, dated the date of delivery
of such negative assurance letter (the “Opinion Date”), respectively, modified, as necessary, to relate
to the Registration Statement and the Prospectus as then amended or supplemented; provided, however, that in lieu
of such negative assurance letters for subsequent Representation Dates, counsel may furnish HCW with a letter (a “Reliance
Letter”) to the effect that HCW may rely on a prior negative assurance letter delivered under this Section 7(n)
to the same extent as if it were dated the date of such Reliance Letter (except that statements in such prior negative assurance
letter shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such Representation
Date).

 

(o)
 Comfort Letter. On or prior to the First Delivery Date and within five (5) Trading
Days of each subsequent Representation Date with respect to which the Company is obligated to deliver a certificate in the form
attached hereto as Exhibit 7(m), other than pursuant to Section 7(m)(iii), the Company shall cause its independent
accountants to furnish HCW letters (the “Comfort Letters”), dated the date the Comfort Letter is delivered,
in form and substance reasonably satisfactory to HCW, (i) confirming that they are an independent registered public accounting
firm within the meaning of the Securities Act and the Public Company Accounting Oversight Board, (ii) stating, as of such date,
the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants’
“comfort letters” to underwriters in connection with registered public offerings (the first such letter, the “Initial
Comfort Letter”) and (iii) updating the Initial Comfort Letter with any information that would have been included
in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement
and the Prospectus, as amended and supplemented to the date of such letter.

 

(p)
 Market Activities. The Company will not, directly or indirectly, (i) take any
action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or
manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares or (ii) sell,
bid for, or purchase the Placement Shares to be issued and sold pursuant to this Agreement, or pay anyone any compensation for
soliciting purchases of the Placement Shares other than HCW; provided, however, that the Company may bid for and purchase shares
of its Common Stock in accordance with Rule 10b-18 under the Exchange Act.

 

    	- 20 -

     

    

 

(q)
 Insurance. The Company and its subsidiaries shall maintain, or cause to be maintained,
insurance in such amounts and covering such risks as is reasonable and customary for the business for which it is engaged.

 

(r)
 Compliance with Laws. The Company and each of its subsidiaries will use commercially
reasonable efforts to maintain, or cause to be maintained, all material environmental permits, licenses and other authorizations
required by federal, state and local law in order to conduct their businesses as described in the Prospectus, and the Company
and each of its subsidiaries shall conduct their businesses, or cause their businesses to be conducted, in substantial compliance
with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or
be in compliance with such permits, licenses and authorizations could not reasonably be expected to result in a Material Adverse
Change.

 

(s)
 Investment Company Act. The Company will conduct its affairs in such a manner
so as to reasonably ensure that neither it nor its subsidiaries will be or become, at any time prior to the termination of this
Agreement, an “investment company,” as such term is defined in the Investment Company Act, assuming no change in the
Commission’s current interpretation as to entities that are not considered an investment company.

 

(t)
 Securities Act and Exchange Act. The Company will use its commercially reasonable
efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force,
so far as necessary to permit the continuance of sales of, or dealings in, the Placement Shares as contemplated by the provisions
hereof and the Prospectus.

 

(u)
 No Offer to Sell. Other than any free writing prospectus (as defined in Rule
405 under the Securities Act) approved in advance by the Company and HCW in its capacity as principal or agent hereunder, neither
HCW nor the Company (including its agents and representatives, other than HCW in its capacity as such) will make, use, prepare,
authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed
with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Placement Shares hereunder.

 

(v)
 Sarbanes-Oxley Act. The Company and its subsidiaries will use their best efforts
to comply with all effective provisions of the Sarbanes-Oxley Act applicable to the Company.

 

8.
 Conditions to HCW’s Obligations. The obligations of HCW hereunder with
respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made
by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by HCW of a due diligence
review satisfactory to HCW in its reasonable judgment, and to the continuing satisfaction (or waiver by HCW in its sole discretion)
of the following additional conditions:

 

(a)
 Registration Statement Effective. The Registration Statement shall be effective
and shall be available for (i) all sales of Placement Shares issued pursuant to all prior Placement Notices and (ii) the sale
of all Placement Shares contemplated to be issued by any Placement Notice.

 

    	- 21 -

     

    

 

(b)
 No Material Notices. None of the following events shall have occurred and be
continuing: (i) receipt by the Company or any of its subsidiaries of any request for additional information from the Commission
or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the response
to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii) the
issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness
of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification
from the Commission or any other federal or state governmental authority with respect to the suspension of the qualification or
exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any
proceeding for such purpose; or (iv) the occurrence of any event that makes any material statement made in the Registration Statement
or the Prospectus or any Incorporated Document untrue in any material respect or that requires the making of any changes in the
Registration Statement, the related Prospectus or such documents so that, in the case of the Registration Statement, it will not
contain any materially 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 not misleading and, that in the case of the Prospectus, it will not contain any materially
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 the light of the circumstances under which they were made, not misleading.

 

(c)
 No Misstatement or Material Omission. HCW shall not have advised the Company
that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that
in HCW’s reasonable opinion is material, or omits to state a fact that in HCW’s reasonable opinion is material and
is required to be stated therein or is necessary to make the statements therein not misleading.

 

(d)
 Material Changes. Except as contemplated in the Prospectus, or disclosed in the
Company’s reports filed with the Commission, there shall not have been any Material Adverse Change or any development that
could reasonably be expected to result in a Material Adverse Change.

 

(e)
 Company Counsel Legal Opinion. HCW shall have received the opinion and negative
assurance letters or Reliance Letters of Company Counsel required to be delivered pursuant to Section 7(n) on or before
the date on which such delivery of such opinion and negative assurance letter is required pursuant to Section 7(n).

 

(f)
 HCW Counsel Legal Opinion. HCW shall have received from HCW Counsel, such opinion
or opinions, on or before the date on which the delivery of the Company Counsel legal opinion is required pursuant to Section
7(n), with respect to such matters as HCW may reasonably require, and the Company shall have furnished to such counsel such
documents as they request for enabling them to pass upon such matters.

 

    	- 22 -

     

    

 

(g)
 Comfort Letter. HCW shall have received the Comfort Letter required to be delivered
pursuant to Section 7(o) on or before the date on which such delivery of such Comfort Letter is required pursuant to Section
7(o).

 

(h)
 Representation Certificate. HCW shall have received the certificate required
to be delivered pursuant to Section 7(m) on or before the date on which delivery of such certificate is required pursuant
to Section 7(m).

 

(i)
 Secretary’s Certificate. On or prior to the First Delivery Date, HCW shall
have received a certificate, signed on behalf of the Company by its corporate Secretary, in form and substance satisfactory to
HCW and its counsel.

 

(j)
 No Suspension. Trading in the Common Stock shall not have been suspended on the
Exchange.

 

(k)
 Other Materials. On each date on which the Company is required to deliver a certificate
pursuant to Section 7(m), the Company shall have furnished to HCW such appropriate further information, certificates and
documents as HCW may have reasonably requested in furtherance of the transactions contemplated hereby, in form and substance reasonably
satisfactory to HCW and its counsel.

 

(l)
 Securities Act Filings Made. All filings with the Commission required by Rule
424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within
the applicable time period prescribed for such filing by Rule 424.

 

(m)
 Approval for Listing. The Placement Shares shall either have been (i) approved
for listing on the Exchange, subject only to notice of issuance, or (ii) the Company shall have filed a notification of listing
of additional shares with respect to the Placement Shares on the Exchange at, or prior to, the issuance of any Placement Notice.

 

(n)
 No Termination Event. There shall not have occurred any event that would permit
HCW to terminate this Agreement pursuant to Section 11(a).

 

9.
 Indemnification and Contribution.

 

(a)
 Company Indemnification. The Company agrees to indemnify and hold harmless HCW,
the directors, officers, partners, employees and agents of HCW and each person, if any, who (i) controls HCW within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act, or (ii) is controlled by or is under common control with
HCW (a “HCW Affiliate”) from and against any and all losses, claims, liabilities, expenses and damages
(including, but not limited to, any and all reasonable investigative, legal and other expenses incurred in connection with, and
any and all amounts paid in settlement (in accordance with Section 9(c)) of, any action, suit or proceeding between any
of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or
any claim asserted), as and when incurred, to which HCW, or any such person, may become subject under the Securities Act, the
Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims,
liabilities, expenses or damages arise out of or are based, directly or indirectly, on (x) any untrue statement or alleged untrue
statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement to the Registration
Statement or the Prospectus or in any free writing prospectus or based on written information furnished by or on behalf of the
Company filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof or filed with the Commission,
(y) the omission or alleged omission to state in any such document a material fact required to be stated in it or necessary to
make the statements in it, not misleading; provided, however, that this indemnity agreement shall not apply to the
extent that such loss, claim, liability, expense or damage arises from the sale of the Placement Shares pursuant to this Agreement
and is caused directly or indirectly by an untrue statement or omission or alleged untrue statement or omission made in reliance
upon and in conformity with information relating to HCW and furnished to the Company in writing by HCW expressly for use therein.
This indemnity agreement will be in addition to any liability that the Company might otherwise have.

 

    	- 23 -

     

    

 

(b)
 HCW Indemnification. HCW agrees to indemnify and hold harmless the Company and
its directors, officers, employees and agents of the Company and each person, if any, who (i) controls the Company within the
meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, or (ii) is controlled by or is under common control
with the Company (each, a “Company Affiliate”) from and against any and all losses, claims, liabilities,
expenses and damages (including, but not limited to, any and all reasonably investigative, legal and other expenses incurred in
connection with, and any and all amounts paid in settlement (in accordance with Section 9(c)) of, any action, suit or proceeding
between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which the Company,
or any Company Affiliate, may become subject under the Securities Act, the Exchange Act or other federal or state statutory law
or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are
based, directly or indirectly, on untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration
Statement (or any amendments thereto) or the Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity
with information relating to HCW and furnished to the Company in writing by HCW expressly for use therein.

 

(c)
 Procedure. Any party that proposes to assert the right to be indemnified under
this Section 9 will, promptly after receipt of notice of commencement of any action against such party in respect of which
a claim is to be made against an indemnifying party or parties under this Section 9, notify each such indemnifying party
of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party
will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under
this Section 9 and (ii) any liability that it may have to any indemnified party under the foregoing provision of this Section
9 unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying
party or to the extent the indemnifying party has been damaged or prejudiced thereby. If any such action is brought against any
indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate
in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of
the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume
the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying
party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified
party for any legal or other expenses except as provided below and except for the reasonable costs of investigation subsequently
incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own
counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified
party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party,
(2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to
it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict
or potential conflict of interest exists (based on advice of counsel to the indemnified party) between the indemnified party and
the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf
of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action
within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees
and documented out-of-pocket disbursements and other charges of counsel will be at the expense of the indemnifying party or parties.
It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in
the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted
to practice in such jurisdiction at any one time for all such indemnified party or parties. All such reasonable fees and documented
out-of-pocket disbursements and other charges will be promptly reimbursed by the indemnifying party following the receipt of reasonably
detailed documentation with respect to the incurrence of such fees, disbursements and other charges. So long as the indemnifying
party is conducting the defense of the claim for liability in accordance with this Section, the indemnified party will reasonably
cooperate with the indemnifying party’s defense of such claim. An indemnifying party will not, in any event, be liable for
any settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written
consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim,
action or proceeding relating to the matters contemplated by this Section 9 (whether or not any indemnified party is a
party thereto), unless such settlement, compromise or consent (i) includes an unconditional release of each indemnified party
from all liability arising or that may arise out of such claim, action or proceeding and (ii) does not include any statement or
admission as to fault, culpability or a failure to act on the part of any indemnified party.

 

    	- 24 -

     

    

 

(d)
 Contribution. In order to provide for just and equitable contribution in circumstances
in which the indemnification provided for in the foregoing paragraphs of this Section 9 is applicable in accordance with
its terms but for any reason is held to be unavailable from the Company or HCW, the Company and HCW will contribute to the total
losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in
connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, but after deducting
any contribution received by the Company from persons other than HCW, such as persons who control the Company within the meaning
of the Securities Act, officers of the Company who signed the Registration Statement and directors of the Company, who also may
be liable for contribution) to which the Company and HCW may be subject in such proportion as shall be appropriate to reflect
the relative benefits received by the Company on the one hand and HCW on the other hand. The relative benefits received by the
Company on the one hand and HCW on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from
the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by
HCW (before deducting expenses) from the sale of Placement Shares on behalf of the Company. If, but only if, the allocation provided
by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion
as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault
of the Company, on the one hand, and HCW, on the other, with respect to the statements or omission that resulted in such loss,
claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with
respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by
the Company or HCW, the intent of the parties and their relative knowledge, access to information and opportunity to correct or
prevent such statement or omission. The Company and HCW agree that it would not be just and equitable if contributions pursuant
to this Section 9(d) were to be determined by pro rata allocation or by any other method of allocation that does not take
into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of
the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this Section 9(d) shall
be deemed to include, for the purpose of this Section 9(d), any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim to the extent consistent with Section 9(c)
hereof. Notwithstanding the foregoing provisions of this Section 9(d), HCW shall not be required to contribute any amount
in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. For purposes of this Section 9(d), any person who controls a party to this Agreement within
the meaning of the Securities Act, and any officers, directors, partners, employees or agents of HCW, will have the same rights
to contribution as that party, and each officer of the Company who signed the Registration Statement will have the same rights
to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after
receipt of notice of commencement of any action against such party in respect of which a claim for contribution may be made under
this Section 9(d), will notify any such party or parties from whom contribution may be sought, but the omission to so notify
will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under
this Section 9(d) except to the extent that the failure to so notify such other party materially prejudiced the substantive
rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence
of Section 9(c) hereof, no party will be liable for contribution with respect to any action or claim settled without its
written consent if such consent is required pursuant to Section 9(c) hereof.

 

10.
 Representations and Agreements to Survive Delivery. The indemnity and contribution
agreements contained in Section 9 of this Agreement and all representations and warranties of the Company herein or in
certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by
or on behalf of HCW, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons),
(ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement.

 

    	- 25 -

     

    

 

11.
 Termination.

 

(a)
 HCW shall have the right by giving written notice as hereinafter specified, at any time
to terminate this Agreement if (i) since the date of this Agreement, any Material Adverse Change, or any development that would
reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment of HCW, may materially
impair the ability of HCW to sell the Placement Shares hereunder, (ii) the Company shall have failed, refused or been unable to
perform any agreement on its part to be performed hereunder (through no fault of HCW); provided, however, in the case of
any failure of the Company to deliver (or cause another person to deliver) any certification, opinion, or letter required under
Sections 7(m), 7(n), or 7(o), HCW’s right to terminate shall not arise unless such failure to deliver
(or cause to be delivered) continues for more than thirty (30) days from the date such delivery was required; (iii) any other
condition of HCW’s obligations hereunder is not fulfilled; or (iv), any suspension of trading in the Common Stock shall
have occurred. Any such termination shall be without liability of any party to any other party except that the provisions of Section
7(g) (Expenses), Section 9 (Indemnification and Contribution), Section 10 (Representations and Agreements to
Survive Delivery), Section 16 (Applicable Law; Consent to Jurisdiction) and Section 17 (Waiver of Jury Trial) hereof
shall remain in full force and effect notwithstanding such termination. If HCW elects to terminate this Agreement as provided
in this Section 11(a), HCW shall provide the required written notice as specified in Section 12 (Notices).

 

(b)
 The Company shall have the right, by giving five (5) days’ notice as hereinafter
specified, to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination
shall be without liability of any party to any other party except that the provisions of Section 7(g), Section 9, Section 10,
Section 16 and Section 17 hereof shall remain in full force and effect notwithstanding such termination.

 

(c)
 HCW shall have the right, by giving five (5) days’ notice as hereinafter specified
to terminate this Agreement in its sole discretion at any time after the date of this Agreement. Any such termination shall
be without liability of any party to any other party except that the provisions of Section 7(g), Section 9, Section 10, Section
16 and Section 17 hereof shall remain in full force and effect notwithstanding such termination.

 

(d)
 Unless earlier terminated pursuant to this Section 11, this Agreement shall automatically
terminate upon the issuance and sale of all of the Placement Shares through HCW on the terms and subject to the conditions set
forth herein; provided that the provisions of Section 7(g), Section 9, Section 10, Section 16
and Section 17 hereof shall remain in full force and effect notwithstanding such termination.

 

(e)
 This Agreement shall remain in full force and effect unless terminated pursuant to Sections
11(a), (b), (c), or (d) above or otherwise by mutual agreement of the parties; provided, however,
that any such termination by mutual agreement shall in all cases be deemed to provide that Section 7(g), Section
9, Section 10, Section 16 and Section 17 shall remain in full force and effect.

 

    	- 26 -

     

    

 

(f)
 Any termination of this Agreement shall be effective on the date specified in such notice
of termination; provided, however, that such termination shall not be effective until the close of business on the date
of receipt of such notice by HCW or the Company, as the case may be. If such termination shall occur prior to the Settlement Date
for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement.

 

12.
 Notices. All notices or other communications required or permitted to be given
by any party to any other party pursuant to the terms of this Agreement shall be in writing, unless otherwise specified in this
Agreement, and if sent to HCW, shall be delivered to HCW at H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022,
email: atm@hcwco.com, Attention: Head of Investment Banking with a copy to Duane Morris LLP, 1540 Broadway, New York, NY 10036,
attention: Dean M. Colucci, e-mail: dmcolucci@duanemorris.com; or if sent to the Company, shall be delivered to Flux Power Holdings,
Inc., 2685 S. Melrose Drive Vista, California 92081, attention: Ron Dutt, e-mail: rdutt@fluxpower.com, with a copy to Lewis Brisbois
Bisgaard & Smith LLP, attention: John P. Yung., e-mail: John.Yung@lewisbrisbois.com. Each party to this Agreement may change
such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose. Each such
notice or other communication shall be deemed given (i) when delivered personally, by email or by verifiable facsimile transmission
(with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day (as defined below), or, if such day
is not a Business Day on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized
overnight courier, (iii) on the Business Day actually received if deposited in the U.S. mail (certified or registered mail, return
receipt requested, postage prepaid) and (iv) if sent by e-mail, on the Business Day on which receipt is confirmed by the individual
to whom the notice is sent, other than via auto-reply. For purposes of this Agreement, “Business Day”
shall mean any day on which the Exchange and commercial banks in the City of New York are open for business.

 

An
electronic communication (“Electronic Notice”) shall be deemed written notice for purpose of this Section
12 if sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be
deemed to be received at the time the party sending Electronic Notice receives confirmation of receipt by the receiving party.
Any party receiving Electronic Notice may request and shall be entitled to receive the notice on paper, in a non-electronic form
(“Non-electronic Notice”) which shall be sent to the requesting party within ten (10) days of receipt
of the written request for Non-electronic Notice.

 

13.
 Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the Company and HCW and their respective successors and the affiliates, controlling persons, officers and directors referred
to in Section 9 hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors
and permitted assigns of such party. Nothing in this Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations
under this Agreement without the prior written consent of the other party.

 

    	- 27 -

     

    

 

14.
 Adjustments for Share Splits. The parties acknowledge and agree that all share-related
numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected
with respect to the Common Stock occurring after the date hereof.

 

15.
 Entire Agreement; Amendment; Severability. This Agreement (including all schedules
and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all
other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the
subject matter hereof. Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed
by the Company and HCW. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall
be given full force and effect to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the
terms and provisions herein shall be construed as if such invalid, illegal or unenforceable term or provision was not contained
herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall
be in accordance with the intent of the parties as reflected in this Agreement.

 

16.
 Applicable Law; Consent to Jurisdiction. This Agreement shall be governed by,
and construed in accordance with, the internal laws of the State of New York without regard to the principles of conflicts of
laws. Each party hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal courts sitting in the City
of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated
hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally
subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that
the venue of such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail,
return receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit
in any way any right to serve process in any manner permitted by law.

 

17.
 Waiver of Jury Trial. The Company and HCW each hereby irrevocably waives any
right it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated
hereby.

 

18.
 Absence of Fiduciary Relationship. The Company acknowledges and agrees
that:

 

(a)
 HCW has been retained solely to act as sales agent in connection with the sale of the
Placement Shares and that no fiduciary relationship between the Company and HCW has been created in respect of any of the transactions
contemplated by this Agreement, irrespective of whether HCW has advised or is advising the Company on other matters;

 

(b)
 the Company is capable of evaluating and understanding and understands and accepts the
terms, risks and conditions of the transactions contemplated by this Agreement;

 

(c)
 the Company has been advised that HCW and its affiliates are engaged in a broad range
of transactions which may involve interests that differ from those of the Company and that HCW has no obligation to disclose such
interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and

 

(d)
 the Company waives, to the fullest extent permitted by law, any claims it may have against
HCW, for breach of fiduciary duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this
Agreement, and agrees that HCW shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary
claim.

 

19.
 Counterparts. This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed
Agreement by one party to the other may be made by facsimile or other electronic transmission.

 

[Remainder
of Page Intentionally Blank]

 

    	- 28 -

     

    

 

If
the foregoing correctly sets forth the understanding between the Company and HCW, please so indicate in the space provided below
for that purpose, whereupon this letter shall constitute a binding agreement between the Company and HCW.

 

	 	Very
    truly yours,
	 	 	 
	 	FLUX
    POWER HOLDINGS, INC.
	 	 	 
	 	By:	/s/
    Ronald F. Dutt
	 	Name:	Ronald
    F. Dutt
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	ACCEPTED
    as of the date
	 	first-above
    written:
	 	 	 
	 	H.C.
    WAINWRIGHT & CO., LLC
	 	 	 
	 	By:	/s/
    Mark W. Viklund
	 	Name:	Mark
    W. Viklund
	 	Title:	Chief
    Executive Officer

 

[SIGNATURE PAGE TO COMMON STOCK SALES AGREEMENT]

 

    	 

     

    

 

SCHEDULE
1

 

form
of PLACEMENT NOTICE

 

	From:	Flux
    Power Holdings, Inc.
	To:
    	H.C.
    Wainwright & Co., LLC
	Subject:
    	At
    the Market Offering—Placement Notice
	Date:	_______________,
    20___

 

Gentlemen:

 

Pursuant
to the terms and subject to the conditions contained in the Common Stock Sales Agreement between Flux Power Holdings, Inc. (the
“Company”), and H.C. Wainwright & Co., LLC (“HCW”) dated December 21, 2020 (the “Agreement”),
I hereby request on behalf of the Company that HCW sell up to [  ] shares of the Company’s common stock, par value $0.001
per share, at a minimum market price of $_______ per share. Sales should begin on the date of this Notice and shall continue until
[DATE] [all shares are sold][the aggregate sales price of the shares reaches $[  ]].

 

    	 

     

    

 

SCHEDULE
2

 

Notice
Parties

 

The
Company

 

HCW

 

    	 

     

    

 

SCHEDULE
3

 

Compensation

 

HCW
shall be paid compensation equal to 3.0% of the gross proceeds from the sales of Placement Shares pursuant to the terms of this
Agreement.

 

    	 

     

    

 

Exhibit
7(m) 

 

OFFICER
CERTIFICATE

 

The
undersigned, the duly qualified and elected _______________________, of Flux Power Holdings, Inc. (“Company”),
a Nevada corporation, does hereby certify in such capacity and on behalf of the Company, pursuant to Section 7(m) of the
Common Stock Sales Agreement dated December 21, 2020 (the “Sales Agreement”) between the Company and
H.C. Wainwright & Co., LLC, that to the best of the knowledge of the undersigned:

 

(i) The
representations and warranties of the Company in Section 6 of the Sales Agreement (A) to the extent such representations
and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change,
are true and correct on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof,
except for those representations and warranties that speak solely as of a specific date and which were true and correct as of
such date, and (B) to the extent such representations and warranties are not subject to any qualifications or exceptions, are
true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and
effect as if expressly made on and as of the date hereof except for those representations and warranties that speak solely as
of a specific date and which were true and correct as of such date; and

 

(ii) The
Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the
Sales Agreement at or prior to the date hereof.

 

Capitalized
terms used but not defined herein shall have the meanings ascribed to them in the Sales Agreement.

 

	 	 	FLUX
    POWER HOLDINGS, inc.
	 	 	 	 
	 	 	By:	              
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	Date:_______________EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AGREEMENT 

This Indemnification Agreement (“Agreement”) is made as of
                    , 20     by and between Mattel, Inc., a Delaware corporation (the “Company”),
and                     (“Indemnitee”). Except as provided herein, this Agreement supersedes and replaces any and all previous Agreements
between the Company and Indemnitee covering the subject matter of this Agreement. 
 RECITALS 

WHEREAS, the Board of Directors of the Company (the “Board”) believes that highly competent persons have become more reluctant to
serve publicly-held corporations as directors or officers or in other capacities unless they are provided with adequate protection through a combination of insurance and indemnification against inordinate risks of claims and actions involving or
against them arising out of their service to and activities on behalf of the corporation; 
 WHEREAS, the Board has determined that it is in
the best interests of the Company to act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, the Amended and Restated Bylaws of the Company (the “Bylaws”) require indemnification of the officers and directors of the
Company, and Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”); however, the Bylaws and the DGCL expressly provide that the indemnification provisions set forth
therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification; 

WHEREAS, the Board has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an
ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

WHEREAS, Indemnitee serves as, or is considering serving as, an officer or director of the Company; and 

WHEREAS, Indemnitee may not be willing to serve or continue to serve as an officer or director without the supplemental protections and
indemnifications afforded to it under this Agreement. 

 NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the
Company and Indemnitee do hereby covenant and agree as follows: 
 Section 1.    Services to the Company.
Indemnitee agrees to serve as a director or officer of the Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law), in which
event the Company shall have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise (as defined below))
and Indemnitee. Indemnitee specifically acknowledges that if Indemnitee is employed with the Company (or any of its subsidiaries or any Enterprise), such employment relationship is at will, and Indemnitee may be discharged at any time for any
reason, with or without cause, except as may be otherwise provided in any written employment contract between Indemnitee and the Company (or any of its subsidiaries or any Enterprise), other applicable formal severance policies duly adopted by the
Board, or, with respect to service as a director or officer of the Company, by the Restated Certificate of Incorporation of the Company (the “Certificate of Incorporation”), the Bylaws and the DGCL. The foregoing notwithstanding, this
Agreement shall continue in force after Indemnitee has ceased to serve as a director or officer of the Company as provided in Section 16 hereof. 

Section 2.    Definitions. As used in this Agreement: 

(a)    References to “agent” shall mean any person who is or was a director, officer, or employee of the Company
or a subsidiary of the Company or other person authorized by the Company to act for the Company or a subsidiary of the Company, to include such person serving in such capacity as a director, officer, trustee, partner, managing member, employee,
agent, fiduciary or other official of another corporation, partnership, limited liability company, joint venture, trust or other Enterprise at the request of, for the convenience of, or to represent the interests of the Company or a subsidiary of
the Company. 
 (b)    A “Change in Control” shall mean: 

i.    The acquisition by any individual, entity, or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the
Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (i) the then outstanding shares of common stock
of the Company (the “Outstanding Common Stock”) or (ii) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Voting
Securities”); provided, however, that for purposes of this paragraph (b), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company,
(iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by the Company or (iv) any acquisition pursuant to a transaction which complies with clauses (A),
(B) and (C) of clause (b)(iii) of this Section 2; or 
 ii.    Individuals who, as of the date hereof,
constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or

  
 -2- 

 
nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of
directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or 

iii.    Consummation by the Company of a reorganization, merger or consolidation or sale or other disposition of all or
substantially all of the assets of the Company or the acquisition of assets of another entity (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the individuals and
entities who were the beneficial owners, respectively, of the Outstanding Common Stock and Outstanding Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively the then
outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Business Combination
(including, without limitation, a corporation which as a result of such transaction owns the corporation or all or substantially all of the corporation’s assets either directly or through one or more subsidiaries) in substantially the same
proportions as their ownership immediately prior to such Business Combination of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be, (B) no Person (excluding any employee benefit plan (or related trust) of the
Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly, 20% or more of, respectively, the then outstanding shares of common stock of the corporation resulting from such Business Combination or
the combined voting power of the then outstanding voting securities of such corporation except to the extent that such ownership existed prior to the Business Combination and (C) at least a majority of the members of the board of directors of
the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

iv.    Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company. 

(c)    “Corporate Status” describes the status of a person who is or was a director, officer, trustee, partner,
managing member, employee, agent, fiduciary or other official of the Company or of any other corporation, limited liability company, partnership or joint venture, trust or other Enterprise which such person is or was serving in such position or had
such status at the request of the Company. 
 (d)    “Disinterested Director” shall mean a director of the
Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 

(e)    “Enterprise” shall mean the Company and any other corporation, limited liability company, partnership,
joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official. 

  
 -3- 

 (f)    “Expenses” shall include all reasonable attorneys’
fees, retainers, court costs, transcript costs, fees of experts and other professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or
foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with
prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also shall include (i) Expenses incurred in connection with any appeal
resulting from any Proceeding, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 14(d) only,
Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. Expenses, however, shall not include amounts paid in settlement by Indemnitee
or the amount of judgments or fines against Indemnitee. 
 (g)    “Independent Counsel” shall mean a law firm,
a member of a law firm, or an independent practitioner that is experienced in matters of corporation law and neither presently is, nor in the past three years has been, retained to represent: (i) the Company, the Board or Indemnitee in any
matter material to any such party (other than with respect to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 

(h)    The term “Proceeding” shall include any threatened, pending or completed action, suit, claim,
counterclaim, cross claim, arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or
otherwise and whether of a civil, criminal, administrative, legislative or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party witness or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, including, without limitation, by reason of any action taken by Indemnitee (or a failure to take
action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting pursuant to Indemnitee’s Corporate Status, and whether or not serving in such capacity at the time any liability or Expense is incurred for which
indemnification, reimbursement or advancement of Expenses can be provided under this Agreement. 

  
 -4- 

 (i)    Reference to “fines” shall include any excise tax
assessed with respect to any employee benefit plan; references to “serving at the request of the Company” shall include any service as a director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official of
the Company which imposes duties on, or involves services by, such director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official with respect to any other corporation, limited liability company, partnership or
joint venture, trust, other Enterprise or an employee benefit plan, its participants or beneficiaries; and a person who acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of (x) the participants and
beneficiaries of an employee benefit plan or (y) an Enterprise of which such person is serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official shall be deemed
to have acted in a manner “not opposed to the best interests of the Company” as referred to in this Agreement. 

Section 3.    Indemnity in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with
the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor, by reason of
Indemnitee’s Corporate Status. Pursuant to this Section 3, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses, judgments, fines, liabilities, losses and amounts paid in settlement
(including all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses, judgments, fines, liabilities, losses and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in
the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct was unlawful. The parties hereto intend that this Agreement shall provide to the fullest extent permitted by law for indemnification in excess of
that expressly permitted by statute, including, without limitation, any indemnification provided by the Certificate of Incorporation, the Bylaws, vote of its stockholders or Disinterested Directors or applicable law. 

Section 4.    Indemnity in Proceedings by or in the Right of the Company. The Company shall indemnify
Indemnitee in accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor by reason of
Indemnitee’s Corporate Status. Pursuant to this Section 4, Indemnitee shall be indemnified to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf
in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. No indemnification for Expenses
shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware Court (as hereinafter
defined) or any court in which the Proceeding was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification.

  
 -5- 

 Section 5.    Indemnification for Expenses of a Party Who is
Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is a party to (or a participant in) and is successful, on the merits or
otherwise, in any Proceeding or in defense of any claim, issue or matter therein, in whole or in part, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection therewith. If Indemnitee
is not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and
reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter. 

Section 6.    Indemnification For Expenses of a Witness. Notwithstanding any other provision of this
Agreement, to the fullest extent permitted by applicable law and to the extent that Indemnitee is, by reason of Indemnitee’s Corporate Status, a witness or otherwise asked to participate in any Proceeding to which Indemnitee is not a party,
Indemnitee shall be indemnified against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection therewith. 

Section 7.    Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to
indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. 

Section 8.    Additional Indemnification. 

(a)    Notwithstanding any limitation in Sections 3, 4, or 5, the Company shall indemnify Indemnitee to the fullest extent
permitted by applicable law if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) by reason of Indemnitee’s Corporate Status.

 (b)    For purposes of Section 8(a), the meaning of the phrase “to the fullest extent permitted by
applicable law” shall include, but not be limited to: 
 i.    to the fullest extent permitted by the provision of
the DGCL that authorizes or contemplates additional indemnification by agreement, or the corresponding provision of any amendment to or replacement of the DGCL, and 

ii.    to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the
date of this Agreement that increase the extent to which a corporation may indemnify its officers and directors. 

  
 -6- 

 Section 9.    Exclusions. Notwithstanding any provision in
this Agreement, the Company shall not be obligated under this Agreement to make any indemnification payment in connection with any claim involving Indemnitee: 

(a)    for which payment has actually been made to or on behalf of Indemnitee under any insurance policy or other indemnity
provision, in each case of or procured by the Company or any subsidiary or other Enterprise except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or 

(b)    for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of
securities of the Company within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory law or common law, (ii) any reimbursement of the Company by Indemnitee of
any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from
an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or Section 904 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or the payment to the
Company of profits arising from the purchase and sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any
compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board, including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the
Exchange Act; or 
 (c)    except as provided in Section 14(d) of this Agreement, in connection with any Proceeding
(or any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board
authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law. 

Section 10.    Advances of Expenses. Notwithstanding any provision of this Agreement to the contrary (other
than Section 14(d)), the Company shall advance, at the request of Indemnitee and to the extent not prohibited by law, the Expenses incurred and paid by Indemnitee in connection with any Proceeding (or any part of any Proceeding) not initiated
by Indemnitee (other than as contemplated by Section 14(d)) or any Proceeding initiated by Indemnitee with the prior approval of the Board as provided in Section 9(c) and any Expense required pursuant to Section 12(a), and such
advancement shall be made within twenty (20) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. Advances shall be
unsecured and interest free. Advances shall be made without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement. In
accordance with Section 14(d), advances shall include any and all Expenses 

  
 -7- 

 
incurred pursuing an action to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. Indemnitee shall
qualify for advances upon the execution and delivery to the Company of this Agreement, which shall constitute an undertaking providing that Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking shall be required other than the execution of this Agreement, except as may be expressly required by the DGCL. This Section 10 shall not
apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 9. 

Section 11.    Procedure for Notification and Defense of Claim. 

(a)    Indemnitee shall notify the Company in writing of any matter with respect to which Indemnitee intends to seek
indemnification or advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. The written notification to the Company shall include a description of the nature of the Proceeding
and the facts underlying the Proceeding. To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request, including therein or therewith such documentation and information as is reasonably available to
Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. The omission by Indemnitee to notify the Company hereunder will not relieve
the Company from any liability which it may have to Indemnitee hereunder or otherwise than under this Agreement except to the extent that such delay materially and adversely affects the Company’s ability to participate in the defense of such
Proceeding, and any delay in so notifying the Company shall not constitute a waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise the Board
in writing that Indemnitee has requested indemnification. Notwithstanding the foregoing, Indemnitee shall not be required to notify or submit a request to the Company nor shall the Secretary of the Company be required advise the Board of any matter
for which the Company notifies Indemnitee that it may be entitled to indemnification or advancement of Expenses hereunder; provided, that Indemnitee shall be required to provide such documentation and information as is reasonably available to
Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of such Proceeding. 

(b)    The Company will be entitled to participate in the Proceeding at its own expense and, except as otherwise provided
below, to the extent the Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any such Claim, the Company shall
not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently directly incurred by Indemnitee in connection with Indemnitee’s defense of such Claim other than reasonable costs of investigation or as otherwise
provided below. If the Company assumes the defense of any such Claim, Indemnitee shall cooperate with the Company and give, and so far as it is able to procure the giving of, all such information and render all such assistance to the

  
 -8- 

 
Company as the Company may reasonably request in connection with such Claim. Indemnitee shall have the right to employ its own legal counsel in such Claim, but all Expenses related to such
counsel incurred after notice from the Company of its assumption of the defense shall be at Indemnitee’s own expense; provided, that if (i) Indemnitee’s employment of its own legal counsel has been authorized by the Company,
(ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense of such Claim, (iii) after a Change in Control, Indemnitee’s employment of its own counsel has been
approved by the Independent Counsel, or (iv) the Company shall not in fact have employed counsel to assume the defense of such Claim, then Indemnitee shall be entitled to retain its own separate counsel (but not more than one law firm plus, if
applicable, local counsel in respect of any such Claim) and all Expenses related to such separate counsel shall be borne by the Company. Notwithstanding the foregoing, the Company shall not be entitled, without the consent of Indemnitee, to assume
the defense of any claim brought by or in the right of the Company. 
 (c)    The Company shall have no obligation to
indemnify Indemnitee under this Agreement for any amounts paid in settlement of any Proceeding without the Company’s prior written consent (which consent shall not be unreasonably withheld or delayed). The Company shall not, without the prior
written consent of Indemnitee (which consent shall not be unreasonably withheld or delayed), settle any Proceeding (in whole or in part) if such settlement would impose any Expense, judgment, liability, fine, penalty or limitation on Indemnitee;
provided, however, that, with respect to settlements requiring solely the payment of money either by the Company or by Indemnitee for which the Company is obligated to reimburse Indemnitee hereunder, no such consent of Indemnitee shall be
required. 
 Section 12.    Procedure Upon Application for Indemnification.  

(a)    A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification
shall be made in the specific case: (i) if requested by Indemnitee, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (ii) if no request is made by Indemnitee for a determination
by Independent Counsel, (A) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even
though less than a quorum of the Board, (C) if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee,
or (D) if so directed by the Board, by the stockholders of the Company; and, if it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination.
Indemnitee shall cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any
documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys’ fees and
disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the 

  
 -9- 

 
determination as to Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company promptly will advise
Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. 

(b)    In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to
Section 12(a) hereof, the Independent Counsel shall be selected as provided in this Section 12(b). If a Change in Control shall not have occurred within two (2) years prior to the date of commencement of the Proceeding for which
indemnification is claimed, the Independent Counsel shall be selected by the Board, and the Company shall give written notice to Indemnitee advising Indemnitee of the identity of the Independent Counsel so selected. If a Change in Control shall have
occurred within two (2) years prior to the date of commencement of the Proceeding for which indemnification is claimed, the Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall request that such selection be made by the
Board, in which event the preceding sentence shall apply), and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either event, Indemnitee or the Company, as the case may be,
may, within ten (10) days after such written notice of selection shall have been given, deliver to the Company or to Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may
be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent
Counsel unless and until such objection is withdrawn or the Delaware Court has determined that such objection is without merit. If, within twenty (20) days after the later of submission by Indemnitee of a written request for indemnification
pursuant to Section 11(a) hereof (if any) and the final disposition of the Proceeding, no Independent Counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Delaware Court for resolution of any
objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person selected by such court or by such other person as such court shall
designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as Independent Counsel under Section 12(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant
to Section 14(a) of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing). 

Section 13.    Presumptions and Effect of Certain Proceedings. 

(a)    In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity
making such determination shall, to the fullest extent not prohibited by law, presume that Indemnitee is entitled to indemnification under this 

  
 -10- 

 
Agreement, and the Company shall, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption in connection with the making by any person, persons or entity
of any determination contrary to that presumption. Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the commencement of any action pursuant to this Agreement that
indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel) that Indemnitee has not met such applicable
standard of conduct, shall be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(b)    The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or
conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that
Indemnitee did not act in good faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that
Indemnitee’s conduct was unlawful. 
 (c)    For purposes of any determination of good faith, to the fullest extent
not prohibited by law, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s action is reasonably based on the records or books of account of the Enterprise, including financial statements, or on information supplied to
Indemnitee by the directors or officers of the Enterprise in the course of their duties, or on the advice of legal counsel for the Enterprise or on information or records given or reports made to the Enterprise by an independent certified public
accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or on behalf of the Enterprise as to matters Indemnitee reasonably believes are within such Person’s professional or expert competence. The
provisions of this Section 13(c) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement. 

(d)    The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member,
employee, agent, fiduciary or other official of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

Section 14.    Remedies of Indemnitee.  

(a)    Subject to Section 14(e), in the event that (i) a determination is made pursuant to Section 12 that
Indemnitee is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 10, (iii) no determination of entitlement to indemnification shall have been made pursuant to
Section 12(a) within thirty (30) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof (if any) and the final disposition of the Proceeding, (iv) payment of
indemnification is not made pursuant to Section 5, 6 or 7 or the second to last sentence of Section 

  
 -11- 

 
12(a) within ten (10) days after receipt by the Company of a written request therefor, (v) payment of indemnification pursuant to Section 3, 4 or 8 is not made within ten
(10) days after a determination has been made that Indemnitee is entitled to indemnification, (vi) the Company fails to reimburse Indemnitee pursuant to Section 11(c) or (vii) in the event that the Company or any other person
takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, Indemnitee the benefits provided or intended to be provided to
Indemnitee hereunder, Indemnitee shall be entitled to an adjudication by the Delaware Court of Indemnitee’s entitlement to such indemnification or advancement of Expenses. Alternatively, Indemnitee, at Indemnitee’s option, may seek an
award in arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within one
hundred and eighty (180) days following the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 14(a). The Company shall not oppose Indemnitee’s right to seek any such adjudication or
award in arbitration. 
 (b)    In the event that a determination shall have been made pursuant to Section 12(a)
that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects as a de novo trial, or arbitration, on the merits and Indemnitee
shall not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company shall have the burden of proving Indemnitee is not entitled to indemnification or
advancement of Expenses, as the case may be. It shall be a defense to any such judicial proceeding or arbitration (other than a judicial proceeding or arbitration brought to enforce a claim for Expenses incurred in defending any Proceeding in
advance of its final disposition where the required undertaking, if any is required, has been tendered to the Company) that Indemnitee has not met the standards of conduct which make it permissible under the DGCL for the Company to indemnify
Indemnitee for the amount claimed, but the burden of proving such defense shall be on the Company. 
 (c)    If a
determination shall have been made pursuant to Section 12(a) that Indemnitee is entitled to indemnification, the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a
prohibition of such indemnification under applicable law. 
 (d)    The Company shall, to the fullest extent not
prohibited by law, be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in
any such court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. It is the intent of the Company that, to the fullest extent permitted by law, Indemnitee not be required to incur legal fees or other
Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation 

  
 -12- 

 
or otherwise because the cost and expense thereof would substantially detract from the benefits intended to be extended to Indemnitee hereunder. The Company shall, to the fullest extent permitted
by law, indemnify Indemnitee against any and all Expenses which are incurred by Indemnitee in connection with any action brought by Indemnitee for indemnification or advancement of Expenses from the Company under this Agreement or under any
directors’ and officers’ liability insurance policies maintained by the Company if Indemnitee is successful, in whole or in part, in such action. If requested by Indemnitee, the Company shall (within ten (10) days after receipt by the
Company of a written request therefor) advance, to the extent not prohibited by law, such Expenses to Indemnitee. 

(e)    Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to
indemnification under this Agreement shall be required to be made prior to the final disposition of the Proceeding. 

Section 15.    Non-exclusivity; Survival of Rights; Insurance;
Subrogation.  
 (a)    The rights of indemnification and to receive advancement of Expenses as provided by this
Agreement shall not be deemed exclusive of any other rights to which Indemnitee may at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or
otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by Indemnitee in Indemnitee’s Corporate
Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the
Certificate of Incorporation, the Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be
exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment
of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b)    To the extent that the Company maintains an insurance policy or policies providing liability insurance for
director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official of the Enterprise, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage
available for any such director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof, the Company
has director and officer liability insurance in effect, the Company shall give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the insurers in accordance with the procedures set forth in the respective
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such policies. 

  
 -13- 

 (c)    In the event of any payment made by the Company under this
Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights. 
 (d)    The Company’s obligation to
indemnify or advance Expenses hereunder to Indemnitee who is or was serving at the request of the Company as a director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official of any other corporation, limited
liability company, partnership, joint venture, trust, employee benefit plan or other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such other corporation, limited
liability company, partnership, joint venture, trust or other Enterprise. 
 Section 16.    Duration of
Agreement; Successors and Assigns. All obligations of the Company contained herein shall continue during the period during which Indemnitee is a director, officer, trustee, partner, managing member, employee, agent, fiduciary or other official
of the Company or of any other Enterprise and shall continue thereafter so long as Indemnitee may be subject to any Proceeding by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting or serving in any such capacity at
the time any liability or expense is incurred for which indemnification can be provided under this Agreement. The indemnification and advancement of expenses rights provided by or granted pursuant to this Agreement shall be binding upon and be
enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business or assets of the Company), and
shall inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns, heirs, devisees, executors and administrators and other legal representatives. 

Section 17.    Severability. If any provision or provisions of this Agreement shall be held to be invalid,
illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of any Section of this Agreement containing any such
provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement
(including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect
to the intent manifested thereby. 

  
 -14- 

 Section 18.    Enforcement. 

(a)    The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations
imposed on it hereby in order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving or continuing to serve as a director or officer of the
Company. 
 (b)    This Agreement constitutes the entire agreement between the parties hereto with respect to the
subject matter hereof and supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in
furtherance of the Certificate of Incorporation, the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

Section 19.    Modification and Waiver. No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing
waiver. 
 Section 20.    Notices. All notices, requests, demands and other communications under this
Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been directed, (b) mailed by certified or registered
mail with postage prepaid, on the third business day after the date on which it is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication shall have been directed or
(d) sent by email: 
 (a)    If to Indemnitee, at the address indicated on the signature page of this Agreement, or
such other address as Indemnitee shall provide to the Company. 
 (b)    If to the Company to 

Mattel, Inc. 
 333 Continental
Blvd. 
 El Segundo, CA 90245-5012 

Attn: Chief Legal Officer 
 Email:

 or to any other address as may have been furnished to Indemnitee by the Company. 

Section 21.    Contribution. To the fullest extent permissible under applicable law, if the indemnification
provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes,
amounts paid or to 

  
 -15- 

 
be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of
all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative
fault of the Company (and its directors, officers, trustees, partners, managing members, employees, agents, fiduciaries or other officials) and Indemnitee in connection with such event(s) and/or transaction(s). 

Section 22.    Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the
parties shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to
Section 14(a) of this Agreement (but not with respect to enforcement of any adjudication or award pursuant to such arbitration), the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding
arising out of or in connection with this Agreement shall be brought only in the Court of Chancery of the State of Delaware (the “Delaware Court”), and not in any other state or federal court in the United States of America or any court in
any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, to the extent such party is not
otherwise subject to service of process in the State of Delaware, irrevocably The Corporation Trust Company, Corporation Trust Center, 1209 North Orange Street, Wilmington, New Castle County, Delaware 19801 as its agent in the State of Delaware as
such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive
any objection to the laying of venue of any such action or proceeding in the Delaware Court and (v) waive, and agree not to plead or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an
improper or inconvenient forum. 
 Section 23.    Counterparts. This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to
be produced to evidence the existence of this Agreement. 
 Section 24.    Miscellaneous. Use of the
masculine pronoun shall be deemed to include usage of the feminine pronoun where appropriate. The headings of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction
thereof. This Agreement is a supplement to and in furtherance of the Certificate of Incorporation and the Bylaws and any resolutions adopted pursuant thereto, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of
Indemnitee thereunder. 

  
 -16- 

 IN WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and
year first above written. 
  

			
	MATTEL, INC.
		
	By:	 	          

	Name:	 	
	Title:	 	

  

			
	INDEMNITEE
		
		 	 
		 	

  
 [Signature Page to
Indemnification Agreement]

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