Document:

KOGETO, INC.

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the “Agreement”) is dated as of ___________, 2014, by and among Kogeto, Inc., a Nevada corporation
(the “Company”), and each purchaser identified on the signature pages hereto (individually, a “Purchaser”
and collectively, the “Purchasers”).

 

WITNESSETH:

 

WHEREAS, the Company
is conducting a private placement (the “Offering”) consisting of up to $2,520,000 of Units, with each Unit consisting
of five shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common
Stock”), and a five-year warrant to purchase one share of Common Stock at an exercise price of $0.32 per share (the “Warrants”),
pursuant to Section 4(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 promulgated
under Regulation D (“Regulation D”) thereunder in accordance with the rules and regulations of the U.S. Securities
and Exchange Commission (the “Commission”);

 

WHEREAS, the Offering
is described in a Confidential Private Placement Memorandum dated May 19, 2014 (the “Memorandum”);
and

 

WHEREAS, each Purchaser
desires to purchase that number of Units set forth on such Purchaser’s signature page attached hereto on the terms and conditions
hereinafter set forth;

 

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

 

ARTICLE
I

PURCHASE AND SALE OF UNITS

 

Section
1.1           Purchase and Sale of Units; Form of Payment.
Upon the terms and conditions set forth herein, at the Closing the Company shall issue and sell to each Purchaser, and each Purchaser
severally, but not jointly, shall irrevocably purchase from the Company such number of Units as is set forth on such Purchaser’s
signature page hereto in exchange for payment by such Purchaser of the amount (the “Purchase Price”) as is set
forth on such Purchaser’s signature page hereto. Pending the sale of the Minimum Offering Amount of Units, all funds paid
hereunder shall be deposited in an escrow account (“Escrow Account”) with Cross River Bank (the “Escrow
Agent”). Each Purchaser shall deliver its respective Purchase Price for the Units to be issued and sold to such Purchaser
at the Closing by wire transfer of immediately available funds to the Escrow Account in accordance with the following wiring instructions,
such funds to be wired at the time such Purchaser executes this Agreement:

 

	Account Name:	Cross River Bank, as Escrow Agent for Kogeto, Inc.
	Account No.:	2000501723
	ABA Routing No.:	021214273
	Address:	885 Teaneck Road
	 	Teaneck, New Jersey  07666

 

 

    	 

    	 

    

 

Section
1.2           Offering Period; Closing. The Units will be
offered for sale until the earlier of (a) the date upon which subscriptions for all of the Units offered in the Offering have been
accepted by the Company; (b) the date upon which the Company and the Placement Agent elect to terminate the Offering; or (c) June 30,
2014, subject to the right of the Company to extend the Offering through August 31, 2014, at its election (the “Termination
Date”). Each Purchaser acknowledges and understands that the Offering is being made on “best efforts” basis
for the Maximum Amount. Each Purchaser acknowledges and understands that the Closing hereunder shall be conducted only upon the
receipt and acceptance by the Company of subscriptions for all of the Units offered in the Offering. The closing of the purchase
and sale of the Units (the “Closing”) to be acquired by the Purchasers from the Company under this Agreement
shall take place at the offices of Olshan Frome Wolosky LLP, counsel to the Company, at 10:00 a.m., Eastern time, on such
date as the Placement Agent and the Company may agree upon; provided, that all of the conditions set forth in Article III hereof
and applicable to the Closing shall have been fulfilled or waived in accordance herewith (the “Closing Date”).

 

Section
1.3           Deliveries at Closing. Subject to the terms
and conditions of this Agreement, at the Closing (a) the Company shall issue that number of Units set forth on such Purchaser’s
signature page hereto in the name of each such Purchaser; and (b) such Purchaser’s Purchase Price for the Units being purchased
by such Purchaser will be delivered on behalf of each such Purchaser from the Escrow Account to the Company. Each Purchaser acknowledges
and agrees that certificates evidencing the Common Stock and the Warrants will not be issued and delivered at the Closing and further
acknowledges and agrees that the Company shall issue certificates evidencing the Common Stock and the Warrants within ten (10)
days of the Closing.

 

ARTICLE
II

REPRESENTATIONS AND WARRANTIES

 

Section
2.1          Representations and Warranties of the Company.
The Company hereby makes the following representations and warranties to each Purchaser as of the Closing Date:

 

(a)          Organization,
Good Standing and Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws
of the State of Nevada and has the requisite corporate power to own, lease and operate its properties and assets and to conduct
its business as it is now being conducted. The Company does not have any operating subsidiaries except as set forth in the Offering
Documents. The Company and each such subsidiary is duly qualified as a foreign corporation to do business and is in good standing
in every jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary
except for any jurisdiction(s) (alone or in the aggregate) in which the failure to be so qualified could not reasonably be expected
to have a Material Adverse Effect (as defined in Section 2.1(c) hereof) on the Company’s financial condition.

 

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(b)          Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and perform this Agreement and the Escrow
Agreement by and among the Company, Placement Agent and the Escrow Agent (the “Escrow Agreement”) (collectively,
the “Transaction Documents”) and to issue and sell the Units in accordance with the terms hereof. The execution,
delivery and performance of the Transaction Documents by the Company and the consummation by it of the transactions contemplated
hereby and thereby have been duly and validly authorized by all necessary corporate action, and no further consent or authorization
of the Company or its Board of Directors or stockholders is required. This Agreement has been duly executed and delivered by the
Company. The other Transaction Documents will have been duly executed and delivered by the Company at the Closing. Each of the
Transaction Documents constitutes, or shall constitute when executed and delivered, a valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, fraudulent transfer, fraudulent conveyance, moratorium, liquidation, conservatorship, receivership
or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable
principles of general application.

 

(c)          Capitalization.
The authorized capital stock of the Company and the shares thereof issued and outstanding immediately prior to the Closing will
be as set forth in the Memorandum. Except as set forth in the Company’s reports filed with the Commission or as contemplated
by the Transaction Documents or the Memorandum, there are no contracts, commitments, understandings, or arrangements by which the
Company is or may become bound to issue additional shares of the capital stock of the Company or options, securities or rights
convertible into shares of capital stock of the Company. The Company has furnished or made available to the Purchasers true and
correct copies of the Company’s Articles of Incorporation, as in effect on the date hereof (the “Articles”),
and the Company’s Bylaws, as in effect on the date hereof (the “Bylaws”). For purposes of this Agreement,
“Material Adverse Effect” means any material adverse effect on the business, operations, properties, or financial
condition of the Company and its subsidiaries, taken as a whole and/or any condition, circumstance, or situation that would prohibit
or otherwise materially interfere with the ability of the Company to perform any of its obligations under this Agreement in any
material respect.

 

(d)          Issuance
of Securities. The Units have been duly and validly authorized and, when issued and paid for pursuant to this Agreement, will
be validly issued, fully paid and nonassessable, and shall be free and clear of all encumbrances and restrictions (other than those
created by the Purchasers), except for restrictions on transfer set forth in the Transaction Documents or imposed by applicable
securities laws. The Common Stock which are part of the Units will be validly issued, fully paid and non-assessable free and clear
of all encumbrances and restrictions, except for restrictions imposed by applicable securities laws and except for those created
by the Purchasers.

 

(e)          No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated herein and therein do not and will not (i) violate any provision of the Company’s
Articles or Bylaws, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become
a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, mortgage,
deed of trust, indenture, note, bond, license, lease agreement, instrument or obligation to which the Company is a party or by
which it or its properties or assets are bound, (iii) create or impose a lien, mortgage, security interest, charge or encumbrance
of any nature on any property of the Company under any agreement or any commitment to which the Company is a party or by which
the Company is bound or by which any of its respective properties or assets are bound, or (iv) result in a violation of any federal,
state, local or foreign statute, rule, regulation, order, judgment or decree (including Federal and state securities laws and regulations)
applicable to the Company or any of its subsidiaries or by which any property or asset of the Company or any of its subsidiaries
are bound or affected, except, in all cases other than violations pursuant to clauses (i) and (iv) above, for such conflicts, defaults,
terminations, amendments, accelerations, cancellations and violations as could not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect.

 

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Section
2.2           Representations and Warranties of the Purchasers.
Each Purchaser hereby makes the following representations and warranties to the Company as of the date hereof and Closing Date,
with respect solely to itself and not with respect to any other Purchaser:

 

(a)          Organization
and Good Standing of the Purchasers. If the Purchaser is an entity, such Purchaser is a corporation, partnership or limited
liability company duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its
incorporation or organization.

 

(b)          Authorization
and Power. Each Purchaser which is an entity has the requisite power and authority to enter into and perform this Agreement
and each of the other Transaction Documents to which such Purchaser is a party and to purchase the Units being sold to it hereunder.
The execution, delivery and performance of this Agreement and each of the other Transaction Documents to which such Purchaser is
a party by such Purchaser and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized
by all necessary corporate or partnership action, and no further consent or authorization of such Purchaser or its Board of Directors,
stockholders, or partners, as the case may be, is required. This Agreement and each of the other Transaction Documents to which
such Purchaser is a party has been duly authorized, executed and delivered by such Purchaser and constitutes, or shall constitute
when executed and delivered, a valid and binding obligation of such Purchaser enforceable against such Purchaser in accordance
with the terms thereof. If the purchaser is an individual, such individual is over the age of 18 and has the legal capacity to
enter into this Agreement.

 

(c)          No
Conflicts. The execution, delivery and performance of this Agreement and each of the other Transaction Documents to which such
Purchaser is a party and the consummation by such Purchaser of the transactions contemplated hereby and thereby or relating hereto
do not and will not (i) result in a violation of such Purchaser’s charter documents, bylaws, operating agreement, partnership
agreement or other organizational documents (if such Purchaser is not a natural person) or (ii) conflict with, or constitute a
default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of any agreement, indenture or instrument or obligation to which such Purchaser
is a party or by which its properties or assets are bound, or result in a violation of any law, rule, or regulation, or any order,
judgment or decree of any court or governmental agency applicable to such Purchaser or its properties (except for such conflicts,
defaults and violations as would not, individually or in the aggregate, have a material adverse effect on such Purchaser). Such
Purchaser is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court
or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement or any other
Transaction Document to which such Purchaser is a party or to purchase the Units in accordance with the terms hereof.

 

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(d)          Acquisition
for Investment. Such Purchaser is acquiring the Units proposed to be acquired by such Purchaser hereunder solely for its own
account for the purpose of investment and not with a view to or for the resale or distribution of any part thereof. Such Purchaser
does not have a present intention to sell such Units, nor a present arrangement (whether or not legally binding) or intention to
effect any distribution of such Units to or through any person or entity; provided, however, that by making the representations
herein and subject to Section 2.2(h) below, such Purchaser does not agree to hold such Units for any minimum or other specific
term and reserves the right to dispose of such Units at any time in accordance with federal and state securities laws applicable
to such disposition.

 

(e)          Accredited
Investor; Suitability. Such Purchaser is an “accredited investor” as defined in Regulation D. Such Purchaser is
not required to be registered as a brokerdealer under Section 15 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and such Purchaser is not a broker-dealer, nor an affiliate of a broker-dealer. Such Purchaser has sufficient
knowledge and experience in finance, securities, investments and other business matters to be able evaluate the risks and merits
of its investment in the Company and to protect such Purchaser’s interests in connection with the transactions contemplated
by this Agreement and such Purchaser has consulted, to the extent that it has deemed necessary, with its tax, legal, accounting
and financial advisors concerning its investment in the Units and can afford to bear such risks for an indefinite period of time,
including, without limitation, the risk of losing its entire investment in the Shares.

 

(f)          Opportunities
for Additional Information. Such Purchaser acknowledges that it has been given full access to such records of the Company and
the officers of the Company and received such information as it has deemed necessary or appropriate to conduct its due diligence
investigation. Such Purchaser acknowledges that such Purchaser has had the opportunity to ask questions of and receive answers
from, or obtain additional information from, the executive officers of the Company concerning the financial and other affairs of
the Company, and that all such questions have been answered to Purchaser’s full satisfaction. Except as expressly set forth
in this Agreement, no oral or written representations or warranties have been made to Purchaser by the Company or by any agent,
employee, or affiliate of the Company. In making the decision to invest in the Company and its business, such Purchaser hereby
acknowledges that such Purchaser has relied solely upon the Memorandum and that the Memorandum supersedes any other information
provided to such Purchaser.

 

(g)          Risk
Factors. Such Purchaser is aware that an investment in the Units involves substantial risks. Purchaser has reviewed and understands
the risk factors contained in the Memorandum. The purchases of the Units offered hereby must be regarded as the placing of funds
at high risk in a new venture with all of the unforeseen costs, expenses, problems and difficulties to which such ventures are
subject. There can be no assurance that the Company will be able to successfully implement its business plan or develop into a
successful or profitable business.

 

(h)          No
General Solicitation. Such Purchaser acknowledges that Units were not offered to such Purchaser by means of any form of general
or public solicitation or general advertising, or publicly disseminated advertisements or sales literature, including (i) any advertisement,
article, notice or other communication published in any newspaper, magazine, or similar media, or broadcast over television, radio
or the Internet, or (ii) any seminar or meeting to which such Purchaser was invited by any of the foregoing means of communications.

 

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(i)          Restricted
Securities. Such Purchaser understands that the Shares and Warrants are “restricted securities” under the Securities
Act and that the Shares must be held indefinitely unless such Shares are registered under the Securities Act or an exemption from
registration is available. Such Purchaser acknowledges that such Purchaser is familiar with Rule 144 of the rules and regulations
of the Commission, as amended, promulgated pursuant to the Securities Act (“Rule 144”), and that such person
has been advised that Rule 144 permits resales only under certain circumstances. Such Purchaser understands that to the extent
that Rule 144 is not available, such Purchaser will be unable to sell any Shares without either registration under the Securities
Act or the existence of another exemption from such registration requirement. Such Purchaser will not transfer any or all of such
Purchaser’s Shares or Warrants absent an effective registration statement under the Securities Act and applicable state securities
law covering the disposition of such Purchaser’s Shares or Warrants without first providing the Company with an opinion of
counsel (which counsel and opinion are reasonably satisfactory to the Company) to the effect that such transfer will be exempt
from the registration and the prospectus delivery requirements of the Securities Act and the registration or qualification requirements
of any applicable state securities laws. Such Purchaser understands and agrees that the Shares have not been registered under the
Securities Act or the securities laws of any state of the United States.

 

(j)          Independent
Investment. No Purchaser has agreed to act with any other Purchaser for the purpose of acquiring, holding, voting or disposing
of the Shares and Warrants compromising the Units purchased hereunder for purposes of Section 13(d) under the Exchange Act, and
each Purchaser is acting independently with respect to its investment in the Units.

 

(k)          Trading
Activities and Confidentiality. Other than the transactions contemplated hereunder, such Purchaser has not directly or indirectly,
nor has any person acting on behalf of or pursuant to any understanding with such Purchaser, executed any acquisition or disposition,
including short sales or puts, in the securities of the Company during the period commencing from the time that such Purchaser
first received any material, whether in writing or otherwise, from the Company or any other person setting forth the material terms
of the transactions contemplated hereunder. Such Purchaser covenants that until such time as the transactions contemplated by this
Agreement are publicly disclosed by the Company, such Purchaser will maintain the confidentiality of all disclosures made to it
in connection with this transaction (including the existence and terms of this transaction). Each Purchaser agrees that it shall
not, directly or indirectly, engage in any short sales with respect to the Common Stock for a period of one (1) year following
the Closing.

 

(l)          No
Governmental Review. Such Purchaser understands that no United States federal or state agency or any other governmental agency
has passed on or made recommendations or endorsement of the Units or the suitability of the investment in the Units nor have such
authorities passed upon or endorsed the merits of the offering of the Units.

 

(m)          Participation
by Affiliates. Such Purchaser acknowledges and agrees that the officers, directors, affiliates and other insiders of the Company
are permitted to purchase Units in the Offering and that any such purchases shall be counted toward the amount of the Offering.

 

(n)          Brokers.
Other than to the Placement Agent, each Purchaser has no knowledge of any brokerage or finder’s fees or commissions that
are or will be payable by the Company or any Subsidiary to any broker, financial advisor or consultant, finder, placement agent,
investment banker, bank or other person or entity with respect to the transactions contemplated by this Agreement.

 

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(o)          Escrow
Agent. Each Purchaser agrees that all funds for subscriptions for the Units will be held by the Escrow Agent pursuant to the
Escrow Agreement in a non-interest bearing account and that the Escrow Agent shall be authorized to release such funds to the Company
upon satisfaction of the conditions to Closing. Each Purchaser hereby authorizes and directs the Company and the Placement Agent
to direct the Escrow Agent to return any funds for unaccepted subscriptions to the same account from which the funds were drawn,
without interest. Each Purchaser agrees to be bound by the terms of the Escrow Agreement as if it is a signatory thereto.

 

(p)          Correctness
of Representation; Reliance. Such Purchaser understands that the Units are being offered and sold in reliance on a transactional
exemption from the registration requirement of federal and state securities laws and the Company is relying upon the truth and
accuracy of the representations, warranties, agreements, acknowledgments and understandings of such Purchaser set forth herein
and the Investor Questionnaire accompanying this Agreement in the form attached hereto as Exhibit A (the “Investor Questionnaire”)
in order to determine the applicability of such exemptions and the suitability of such Purchaser to acquire the Units. Such Purchaser
further represents and warrants that this Agreement and the Investor Questionnaire do not contain any untrue statement or a material
fact or omit any material fact concerning such Purchaser. Such Purchaser agrees, acknowledges and understands that the Company
and its counsel are entitled to rely on the representations, warranties and covenants made by such Purchaser herein.

 

(q)          Residency.
Such Purchaser represents and warrants that Purchaser is a bona fide resident of, and is domiciled in, the state so designated
on the signature page hereto.

 

ARTICLE
III

CONDITIONS

 

Section
3.1           Conditions Precedent to the Obligation of the Company
to Sell the Units. The obligation hereunder of the Company to issue and sell the Units to the Purchasers is subject to the
satisfaction or waiver, at or before the Closing, of each of the conditions set forth below. These conditions are for the Company’s
sole benefit and may be waived by the Company at any time in its sole discretion.

 

(a)          Accuracy
of Each Purchaser’s Representations and Warranties. The representations and warranties made by each Purchaser in this
Agreement and each of the other Transaction Documents to which such Purchaser is a party qualified as to materiality shall be true
and correct at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks
as of an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the
representations and warranties made by each Purchaser in this Agreement and each of the other Transaction Documents to which such
Purchaser is a party not qualified as to materiality shall be true and correct in all material respects at all times prior to and
on the Closing Date, except to the extent any such representation or warranty expressly speaks as of an earlier date, in which
case such representation or warranty shall be true and correct in all material respects as of such earlier date.

 

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(b)          Performance
by the Purchasers. Each Purchaser shall have performed, satisfied and complied in all respects with all covenants, agreements
and conditions required by this Agreement to be performed, satisfied or complied with by such Purchaser at or prior to the Closing.

 

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

 

(d)          Delivery
of Purchase Price. The Purchase Price for all of the Units shall have been delivered to the Escrow Agent pursuant to the Escrow
Agreement and the aggregate amount of such Purchase Price shall be equal to or greater than the amount of the Offering.

 

(e)          Delivery
of Transaction Documents. Each Purchaser shall have duly executed and delivered to the Company each of the Transaction Documents
to which it is a party.

 

Section
3.2           Conditions Precedent to the Obligation of the Purchasers
to Purchase the Units. The obligation hereunder of each Purchaser to acquire and pay for the Units is subject to the satisfaction
or waiver, at or before the Closing, of each of the conditions set forth below. These conditions are for each Purchaser’s
sole benefit and may be waived by such Purchaser at any time in its sole discretion.

 

(a)          Accuracy
of the Company’s Representations and Warranties. The representations and warranties made by the Company in this Agreement
and each of the other Transaction Documents to which the Company is a party qualified as to materiality shall be true and correct
at all times prior to and on the Closing Date, except to the extent any such representation or warranty expressly speaks as of
an earlier date, in which case such representation or warranty shall be true and correct as of such earlier date, and, the representations
and warranties made by the Company in this Agreement and each of the other Transaction Documents to which the Company is a party
not qualified as to materiality shall be true and correct in all material respects at all times prior to and on the Closing Date,
except to the extent any such representation or warranty expressly speaks as of an earlier date, in which case such representation
or warranty shall be true and correct in all material respects as of such earlier date.

 

(b)          Performance
by the Company. The Company shall have performed, satisfied and complied in all respects with all covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing.

 

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

 

(d)          No
Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any governmental authority shall have been
commenced, and no investigation by any governmental authority shall have been threatened, against the Company or any subsidiary,
or any of the officers, directors or affiliates of the Company or any subsidiary seeking to restrain, prevent or change the transactions
contemplated by this Agreement, or seeking damages in connection with such transactions.

 

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(e)          Material
Adverse Effect. No Material Adverse Effect shall have occurred at or before the Closing Date.

 

(f)          Delivery
of Transaction Documents. The Company shall have duly executed and delivered to each Purchaser each of the Transaction Documents
to which it is a party.

 

ARTICLE
IV

STOCK CERTIFICATE LEGEND

 

Section
4.1           Each certificate representing the Common Stock and
the Warrants, and, if appropriate, securities issued upon conversion thereof, shall be stamped or otherwise imprinted with a legend
substantially in the following form (in addition to any legend required by applicable state securities or “blue sky”
laws):

 

THESE SECURITIES REPRESENTED BY
THIS CERTIFICATE (THE “SECURITIES”) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”) OR ANY STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS REGISTERED UNDER THE
SECURITIES ACT AND UNDER APPLICABLE STATE SECURITIES LAWS OR THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL THAT REGISTRATION
OF SUCH SECURITIES UNDER THE SECURITIES ACT AND UNDER THE PROVISIONS OF APPLICABLE STATE SECURITIES LAWS IS NOT REQUIRED.

 

ARTICLE
V

MISCELLANEOUS

 

Section
5.1           Fees and Expenses. Except as otherwise set forth
in this Agreement and the other Transaction Documents, each party shall pay the fees and expenses of its advisors, counsel, accountants
and other experts, if any, and all other expenses, incurred by such party incident to the negotiation, preparation, execution,
delivery and performance of this Agreement.

 

Section
5.2           Entire Agreement; Amendment. This Agreement
and the other Transaction Documents contains the entire understanding and agreement of the parties with respect to the matters
covered hereby and, except as specifically set forth herein or in the Transaction Documents, neither the Company nor any of the
Purchasers makes any representations, warranty, covenant or undertaking with respect to such matters and they supersede all prior
understandings and agreements with respect to said subject matter, all of which are merged herein. No provision of this Agreement
nor any of the Transaction Documents may be waived or amended other than by a written instrument signed by the Company and at a
majority of the Units and no provision hereof may be waived other than by an a written instrument signed by the party against whom
enforcement of any such amendment or waiver is sought. No such amendment shall be effective to the extent that it applies to less
than all of the holders of the Units, as the case may be, then outstanding. No consideration shall be offered or paid to any person
to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same consideration
is also offered to all of the parties to the Transaction Documents or holders of the Units, as the case may be.

 

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Section
5.3           Notices. Any notice, demand, request, waiver
or other communication required or permitted to be given hereunder shall be in writing and shall be effective (a) upon hand delivery
by telex (with correct answer back received), telecopy or facsimile at the address or number designated below (if delivered on
a business day during normal business hours where such notice is to be received), or the first business day following such delivery
(if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second
business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual
receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Company:

 

Kogeto, Inc.

51 Wooster Street, 2nd Floor

New York , New York 10013

Attn: Mr. Jeff Glasse, Founder, Chairman and Chief Executive Officer

 

With a required copy to:

 

Olshan Frome Wolosky LLP

Park Avenue Tower

65 East 55th Street

New York, New York 10022

Attn: Spencer G. Feldman, Esq.

 

If to any Purchaser:

 

At the address of such Purchaser
set forth on such Purchaser’s signature page to this Agreement, with copies to Purchaser’s counsel as set forth on
such Purchaser’s signature page to this Agreement or as specified in writing by such Purchaser.

 

Any party hereto may
from time to time change its address for notices by giving at least ten (10) days written notice of such changed address to the
other party hereto.

 

Section
5.4           Waivers. No waiver by either party of any default
with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future
or a waiver of any other provisions, condition or requirement hereof, nor shall any delay or omission of any party to exercise
any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

 

Section
5.5           Headings. The article, section and subsection
headings in this Agreement are for convenience only and shall not constitute a part of this Agreement for any other purpose and
shall not be deemed to limit or affect any of the provisions hereof.

 

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Section
5.6           Successors and Assigns. This Agreement shall
be binding upon and inure to the benefit of the parties and their successors and assigns. The Company may not assign this Agreement
or any rights or obligations hereunder without the prior written consent of each Purchaser. Following the Closing, any Purchaser
may assign any or all of its rights under this Agreement to any person to whom such Purchaser assigns or transfers any Shares or
Warrants comprising the Units, provided that such transferee agrees in writing to be bound, with respect to the transferred Shares
or Warrants, by the provisions of the Transaction Documents that apply to the Purchasers.

 

Section
5.7           No Third Party Beneficiaries. This Agreement
is intended for the benefit of the parties hereto and their respective permitted successors and assigns and is not for the benefit
of, nor may any provision hereof be enforced by, any other person.

 

Section
5.8           Governing Law. This Agreement and the other
Transaction Documents shall be governed by the laws of the state of New York, without giving effect to principles of conflicts
of laws. Each of the Company and the Purchasers (a) hereby irrevocably submits to the jurisdiction of the United States District
Court sitting in the Southern District of New York and the courts of the State of New York located in New York county for the purposes
of any suit, action or proceeding arising out of or relating to this Agreement or any of the other Transaction Documents or the
transactions contemplated hereby or thereby and (b) hereby waives, and agrees not to assert in any such suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of such court, that the suit, action or proceeding is brought in
an inconvenient forum or that the venue of the suit, action or proceeding is improper. Each of the Company and the Purchasers consents
to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect
for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and
notice thereof. Nothing in this Section 5.8 shall affect or limit any right to serve process in any other manner permitted by law.
Each party hereto agrees that a final judgment in any action or proceeding so brought shall be conclusive and may be enforced by
suit on the judgment or in any other manner provided by law or at equity.

 

Section
5.9           Survival. The representations and warranties
of the Company and the Purchasers shall survive the execution and delivery hereof and the Closings hereunder for a period of one
year following the Closing Date.

 

Section
5.10         Counterparts. This Agreement may be executed in any number
of counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute
one and the same Agreement and shall become effective when counterparts have been signed by each party and delivered to the other
parties hereto, it being understood that all parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and
binding obligation of such party executing (or on whose behalf such signature is executed) with the same force and effect as if
such facsimile or “.pdf” signature page were an original thereof.

 

    	11

    	 

    

 

Section
5.11         Severability. The provisions of this Agreement and the
Transaction Documents are severable and, in the event that any court of competent jurisdiction shall determine that any one or
more of the provisions or part of the provisions contained in this Agreement or the Transaction Documents shall, for any reason,
be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect
any other provision or part of a provision of this Agreement or the Transaction Documents and such provision shall be reformed
and construed as if such invalid or illegal or unenforceable provision, or part of such provision, had never been contained herein,
so that such provisions would be valid, legal and enforceable to the maximum extent possible.

 

Section
5.12         Further Assurances. From and after the date of this Agreement,
upon the request of any Purchaser or the Company, each of the Company and the Purchasers shall execute and deliver such instrument,
documents and other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully the intent
and purposes of this Agreement and the other Transaction Documents.

 

Section
5.13         Independent Nature of Purchasers’ Obligations and Rights.
The obligations of each Purchaser under this Agreement and the other Transaction Documents to which it is a party are several and
not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of
the obligations of any other Purchaser under this Agreement or any other Transaction Document. Nothing contained herein, and no
action taken by any Purchaser pursuant hereto, shall be deemed to constitute the Purchasers as, and the Company acknowledges that
the Purchasers do not so constitute, a partnership, an association, a joint venture or any other kind of group or entity, or create
a presumption that the Purchasers are in any way acting in concert or as a group or entity with respect to such obligations or
the transactions contemplated by this Agreement or any matters, and the Company acknowledges that the Purchasers are not acting
in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or the transactions
contemplated by this Agreement. The Company and each Purchaser confirms that each Purchaser has independently participated with
the Company in the negotiation of the transaction contemplated hereby with the advice of its own counsel and advisors. Each Purchaser
shall be entitled to independently protect and enforce its rights, including, without limitation, the rights arising out of this
Agreement, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such
purpose. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and a Purchaser,
solely, and not between the Company and the Purchasers collectively and not between and among the Purchasers.

 

Section
5.14         Construction. The parties hereto have participated jointly
in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this
Agreement shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring
or disfavoring any party hereto by virtue of the authorship of any of the provisions of this Agreement. Any reference to any federal,
state, local, or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless
the context requires otherwise. Unless otherwise expressly provided, the word “including” shall mean including without
limitation. The parties hereto intend that each representation, warranty, and covenant contained herein shall have independent
significance. If any party hereto has breached any representation, warranty, or covenant contained herein in any respect, the fact
that there exists another representation, warranty, or covenant relating to the same subject matter (regardless of the relative
levels of specificity) which such party has not breached shall not detract from or mitigate the fact that such party is in breach
of such representation, warranty, or covenant. All words used in this Agreement will be construed to be of such gender or number
as the circumstances require.

 

    	12

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed by their respective authorized officer as of the date first above
written.

 

	 	KOGETO, INC.
	 	 
	 	By:	

	 	 	Name:
	 	 	Title:

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

SIGNATURE PAGE FOR PURCHASER FOLLOWS]

 

    	13

    	 

    

[PURCHASER SIGNATURE PAGE TO SECURITIES
PURCHASE AGREEMENT]

 

IN WITNESS WHEREOF,
the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	Name of Purchaser:  	 

 

	Signature of Authorized Signatory of Purchaser:  	 

 

	Name of Authorized Signatory:  	 

 

	Title of Authorized Signatory:  	 

 

	Email Address of Authorized Signatory:  	 

 

	Facsimile Number of Authorized Signatory:  	 

 

	State of Residency / Domicile:  	 

 

Address for Notice of Purchaser:

 

	 	 
	 	 
	 	 
	Attention: 	 	 
	Telephone No.:  	 	 
	Facsimile No.: 	 	 

 

Address for Delivery of Common Stock and Warrants for Purchaser
(if not same as address for notice):

 

	 	 
	 	 
	 	 
	Attention:   	 	 

 

Number of Units: ____________ x $1.40 = $____________ (the “Purchase
Price”)

 

EIN Number or SSN: [PROVIDE THIS UNDER SEPARATE COVER]

 

    	14

    	 

    

 

EXHIBIT A

 

Investor Questionnaire

 

See attached

  

    	15EMPLOYMENT AGREEMENT

 

THIS AGREEMENT is by
and between Cirque Energy, Inc., a Florida corporation (the "Company"), and David W. Morgan (the "Executive")
and is entered to be effective as of July 1, 2014 (the "Effective Date").

 

RECITALS

 

WHEREAS, the Board
of Directors of the Company (the "Board") has determined that it is in the best interests of the Company and its shareholders
to assure that the Company will have the continued employment and dedication of the Executive; and

 

WHEREAS, the Board
has further determined that it is desirable to provide the Executive with compensation and benefits terms which adequately compensate
the Executive for the services he renders to the Company, and, to ensure that such compensation and benefits are consistent with
those of like executives of other public companies.

 

AGREEMENT

 

Now, therefore, it
is hereby agreed as follows:

 

1.          EMPLOYMENT
PERIOD. The term of this Agreement shall commence as of the Effective Date and shall expire, subject to earlier termination of
employment as hereinafter provided, on June 30, 2016 (the “Employment Period”); provided, however, that on any day
prior to and including June 30, 2016, the Employment Period may be extended by the Company for an additional year unless prior
thereto either party has given written notice to the other that such party does not wish to extend the term of this Agreement.
This Agreement may be terminated prior to or on the last day of the Employment Period by (i) the Company for Cause, (as defined
in Section 3.2 below), (ii) the Executive for Good Reason (as defined in Section 3.4 below) or (iii) (the “Company”
or the “Executive”) upon thirty (30) days written notice given by one party to the other party for any reason except
Death or Disability.

 

2.          TERMS
OF EMPLOYMENT.

 

2.1           Position
and Duties.

 

2.1.1           Position.
During the Employment Period, the Executive will be employed in executive capacities in the position of Chief Financial Officer
of the Company, or in other such positions as designated by the Board, at its office in Detroit, Michigan, or any such other place
designated by the Board.

 

    	Page | 1

    	 

    

  

2.1.2           Duties.

 

2.1.2.1           During
the Employment Period, Executive shall serve as Chief Financial Officer of the Company and shall have the normal duties, responsibilities,
functions and authority of such position, subject to the powers of the Board and the Company's President and Chief Executive Officer
to expand or limit such duties, responsibilities, functions and authority, limited only to those duties, responsibilities, functions
and authority commensurate with a chief financial officer position, and to override actions of officers of the Company. Without
limiting the foregoing: Executive shall: (i) keep or cause to be kept the books of account of the Company in a thorough and
proper manner; (ii) render statements of the financial affairs of the Company in such form and as often as required by the
Board of Directors or the President and Chief Executive Officer; (iii) make certifications and other statements required
of Chief Financial Officers by SEC regulations and other applicable regulations and listings requirements; (iv) implement an investor
relations program to broaden the Company’s exposure to financial industry analysts, financial institutions, brokerage firms,
individual brokers, and the investing public; and (v) introduce the Company to institutional investors, investment bankers, lending
institutions and high net worth individuals and will assist in negotiating the terms of debt, equity or convertible debt financing
as required by the Company. The Executive, subject to the order of the Board of Directors, shall have the custody of all funds
and securities of the Company.

 

2.1.2.2           Executive shall report
to the Chief Executive Officer and shall devote his best efforts to the business and affairs of the Company and its Subsidiaries.
Executive shall perform his duties, functions and responsibilities to the Company to the best of his abilities in a diligent,
trustworthy, businesslike and efficient manner. Executive will conduct his primary business activities from within the Company's
principal place of business, currently in the Detroit, Michigan area, from a location mutually agreed upon between Executive and
the Company, or while Executive is engaged in business travel for the Company.

 

2.2           Compensation.

 

2.2.1           Base
Salary. The Executive shall receive an annual base salary of one hundred fifty thousand dollars ($150,000) from the Effective
Date through June 30, 2016. Thereafter, the Board or the Compensation Committee of the Board (the “Committee”) may
review the Executive's salary and total cash compensation within one hundred twenty (120) days of the end of each of the Company’s
fiscal years during the Employment Period to determine what, if any, increases shall be made thereto. The base salary payable to
the Executive in any given year is hereafter referred to as the "Annual Base Salary." Any increase in the Annual Base
Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary shall
not be reduced after any increase and the term “Annual Base Salary,” as used in this Agreement, shall refer to the
Annual Base Salary as increased. The Annual Base Salary shall in all instances be payable in twenty-four (24) equal semi-monthly
installments, commencing on July 15, 2014.

 

2.2.2           Annual
Bonus and Option Plans. The Executive shall also be eligible to participate in any applicable Company bonus plan or program,
stock option, restricted stock or other plan or program in effect immediately prior to the Effective Date, or put into effect by
the Board at any time after the Effective Date or the Amendment Effective Date.

 

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2.2.3           Grant
of Stock Options. The Company shall issue the Executive options to purchase one million (1,000,000) shares of the Company’s
common stock on the Effective Date of this Agreement. The exercise price of the options shall be equal to the price of the common
stock of the Company as of the close of business on the Effective Date as quoted by the principal stock exchange on which the common
stock of the Company is bought and sold. The options shall vest as follows: 50% on the first anniversary of the Effective Date
and 50% on the second anniversary of the Effective Date. The options issued under this Section 2.2.3 have a ten-year term from
the date of their issue, and will be incentive stock options to the extent allowable under the Internal Revenue Code and non-qualified
options as to the balance.

 

2.2.4           Incentive,
Savings and Retirement Plans. During the Employment Period, the Executive shall be entitled to participate in all incentive,
savings and retirement plans, practices, policies and programs applicable generally to other executives of the Company, as the
same may be amended from time to time, but in no event shall such plans, practices, policies and programs provide the Executive
with incentive opportunities, savings opportunities and retirement benefit opportunities, in each case, less favorable, in the
aggregate, than the most favorable of those provided by the Company to other executives of the Company; provided, however, the
dollar value awarded Executive in the reasonable discretion of management need not be equal to that awarded to all other executives.

 

2.2.5           Welfare
Benefit Plans. During the Employment Period, the Executive and/or the Executive's family, as the case may be, shall be eligible
for participation in and shall receive all benefits under welfare benefit plans, practices, policies and programs provided by the
Company (including, without limitation, medical, prescription, dental, disability, salary continuance, employee life, group life,
accidental death and travel accident insurance plans and programs, collectively referred to in this Section 2.2.5 as the "Welfare
Benefit Plans") to the extent applicable generally to other executives of the Company, but in no event shall such Welfare
Benefit Plans, programs provide the Executive with benefits which are less favorable, in the aggregate, than the most favorable
of such Welfare Benefit Plans provided generally at any time after the Effective Date to other executives of the Company. If the
Executive elects to opt out of any or all of the foregoing Welfare Benefit Plans that the Company offers because Executive has
his own coverage in such areas, the Company will reimburse the Executive for the reasonable cost of such coverage, but only to
the extent that such cost does not exceed cost of the Company providing coverage under its own Welfare Benefit Plans directly to
the Executive.

 

2.2.6           Expenses.
During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred
by the Executive in the conduct of Company business.

 

2.2.7           Cellular
and Data Communications Allowance. During the Employment Period, the Company shall also pay the Executive a cellular and data
communications allowance of one hundred dollars ($100.00) per month, or as otherwise increased by the Board or Committee.

 

2.2.8           Vacation.
During the Employment Period, the Executive shall be entitled to paid vacation of three weeks annually and otherwise be in accordance
with the plans, policies, programs and practices of the Company in all respects as in effect for the Executive during the one hundred
twenty (120) day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally
at any time after the Effective Date with respect to other executives of the Company.

 

    	Page | 3

    	 

    

 

2.2.9           No
Management Fees. In no event shall the Executive be entitled to receive any additional compensation for serving as a member
and/or manager of the Company or any affiliate of the Company.

 

3.          TERMINATION
OF EMPLOYMENT.

 

3.1           Death
or Disability. The Executive's employment shall terminate automatically upon the Executive's death during the Employment Period.
If the Company determines in good faith that any Disability of the Executive has occurred during the Employment Period (pursuant
to the definition of Disability set forth below), it may give to the Executive written notice in accordance with Section 10.2,
of its intention to terminate the Executive's employment. In such event, the Executive's employment with the Company shall terminate
effective on the thirtieth (30th) day after receipt of such notice by the Executive (the "Disability Effective Date"),
provided that, within the thirty (30) days after such receipt, the Executive shall not have returned to full-time performance of
the Executive's duties. For purposes of this Agreement, the term "Disability" shall mean the absence of the Executive
from the Executive's duties with the Company on a full-time basis for one hundred eighty (180) consecutive business days as a result
of incapacity due to mental or physical illness certified by a physician selected by the Company or its insurers and acceptable
to the Executive or the Executive's legal representative.

 

3.2           Cause.
The Company may terminate the Executive's employment during the Employment Period for Cause. For purposes of this Agreement,
the term "Cause" shall mean: (i) the willful and continued failure of the Executive to perform substantially the Executive's
duties with the Company as set forth in Section 2.1.2, “Duties,” (other than any such failure resulting from incapacity
due to physical or mental illness), after a written demand for substantial performance is delivered to the Executive by the Board,
accompanied by a resolution adopted by the vote of two-thirds (2/3) of the entire Board, excluding the Executive, at a meeting
of the Board held for such purpose, which resolution specifically identifies the manner in which the Board believes that the Executive
has not substantially performed the Executive's duties and Executive has not cured any such failure to perform within sixty (60)
business days of such demand, or; (ii) dishonest or fraudulent conduct, a deliberate attempt to do injury to the Company, or other
conduct that materially discredits the Company or is materially detrimental to the reputation of the Company, including the Executive’s
conviction of or plea of guilty or no contest to a felony under any state or federal statute, which is materially injurious to
the Company as determined by a resolution adopted by the vote of three-fourths (3/4) of the entire Board, excluding the Executive,
at a meeting of the Board held for such purpose, which resolution specifically identifies the alleged illegal conduct or gross
misconduct. For purposes of this provision, no act or failure to act, on the part of the Executive, shall be considered "willful"
unless it is done, or omitted to be done, by the Executive in bad faith. The vote of the Board on the resolutions contemplated
in (i) and (iv) of this Section 3.2 will not be taken until after written notice of not less than five (5) business days to the
Executive of the meeting and an opportunity for Executive to be heard before the Board at such meeting.

 

    	Page | 4

    	 

    

 

3.3           Good
Reason. The Executive may terminate his employment for Good Reason at any time within ninety (90) days after the Executive
first has actual knowledge of the occurrence of such Good Reason. For purposes of this Agreement, the term "Good Reason"
shall mean:

 

3.3.1           the
assignment to the Executive of any duties that are not consistent with the duties set forth in Section 2.1.2, “Duties,”
or any other action by the Company that results in a material diminution in any of the Executive's positions as set forth in Section
2.1.1, "Position," or in the Executive's authority, duties or responsibilities, excluding for this purpose an isolated,
insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly after receipt of notice
thereof given by the Executive;

 

3.3.2           any
failure by the Company to comply with any of the provisions of Section 2.2, "Compensation," other than an isolated, insubstantial
and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of notice thereof
given by the Executive;

 

3.3.3           the
Company's requiring the Executive, without the Executive's consent and full agreement, to be based at any office other than in
the Detroit, Michigan metropolitan area or a position other than as provided in Section 2.1.1;

 

3.3.4           any
purported termination by the Company of the Executive's employment otherwise than as expressly permitted by this Agreement;

 

3.3.5           any
action taken by the Company or its Board of Directors in connection with a “Change in Control,” as defined in Section
4.5, “Change in Control,” that results in the Executive being removed as the Chief Financial Officer of the Company
without the Executive's consent; or

 

3.3.6           any
failure by the Company to comply with and satisfy Section 9.3.

 

3.4           Notice
of Termination. Any termination by the Company for Cause, or by the Executive for Good Reason, shall be communicated by Notice
of Termination to the other party hereto given in accordance with Section 10.2 of this Agreement. For purposes of this Agreement,
the term "Notice of Termination" means a written notice that:

 

3.4.1           indicates
the specific termination provision in this Agreement relied upon;

 

3.4.2           to
the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
the Executive's employment under the provision so indicated; and

 

3.4.3           if
the Date of Termination (as defined below) is other than the date of receipt of such notice, specifies the termination date, which
date shall be not more than thirty (30) days after the giving of such notice. The failure by the Executive or the Company to set
forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive
any right of the Executive or the Company, respectively, hereunder or preclude the Executive or the Company, respectively, from
asserting such fact or circumstance in enforcing the rights of the Executive or the Company under this Agreement.

 

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3.5           Date
of Termination. The term "Date of Termination" means:

 

3.5.1           if
the Executive's employment is terminated by the Company for Cause, or by the Executive for Good Reason, the date of receipt of
the Notice of Termination or any later date specified therein, as the case may be;

 

3.5.2           if
the Executive's employment is terminated by the Company other than for Cause or Disability, the date on which the Company notifies
the Executive of such termination; and

 

3.5.3           if
the Executive's employment is terminated by reason of death or Disability, the date of death of the Executive or the Disability
Effective Date, as the case may be.

 

4.          OBLIGATIONS
OF THE COMPANY UPON TERMINATION.

 

4.1           Termination
for Good Reason, Other Than for Cause, Death or Disability. If, during the Employment Period, the Company shall terminate the
Executive's employment other than for Cause, Death or Disability, or the Executive shall terminate employment for Good Reason,
the Company shall pay to the Executive, or Executive’s beneficiary as designated by him in writing to the Company, within
thirty (30) days after the Date of Termination the aggregate of the amounts set forth in Section 4.1.2 through Section 4.1.6 in
a lump sum in cash and shall pay the amounts due under Section 4.1.1 and Section 4.1.5 as provided in those Sections:

 

4.1.1           the
amount of Annual Base Salary compensation that would be payable to the Executive over a twenty-four (24) month period, provided
that the Company will pay such amount to the Executive over the period that the compensation would have been due had the termination
not occurred;

 

4.1.2           any
declared and accrued, but as of then unpaid, bonus or stock options grant (whether or not vested) to which the Executive would
have received but for such termination. Additionally, any stock options owned or granted shall be deemed immediately vested, not
forfeitable, and shall be the property of Executive, exercisable according to their terms for the balance of the term of years
of the options;

 

4.1.3           any
amounts payable pursuant to the Company's Defined Benefit Pension Plan, 401(k) plan, including such amounts which would have accrued
(whether or not vested) if the Executive's employment had continued after the Date of Termination for the period then remaining
under this Agreement, as it may have been renewed as provided for in Section 1, "Employment Period";

 

4.1.4           any
other amounts or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program,
policy or practice or contract or agreement of the Company (such other amounts and benefits shall be referred to as the "Other
Benefits");

 

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4.1.5           for
the remaining term of this Agreement, as it may have been renewed pursuant to Section 1, "Employment Period," or such
longer period as may be provided by the terms of the appropriate plan, program, practice or policy, the Company shall continue
benefits to the Executive and/or the Executive's family at least equal to those which would have been provided to them in accordance
with Section 2.2.5, "Welfare Benefit Plans," of this Agreement if the Executive's employment had not been terminated
or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other executives of the Company
and their families, provided, however, that if the Executive becomes re-employed with another employer and is eligible to receive
medical or other welfare benefits under another employer-provided plan, the medical and other welfare benefits described herein
shall be secondary to those provided under such other plan during such applicable period of eligibility, and for purposes of determining
eligibility (but not the time of commencement of benefits) of the Executive for retiree benefits pursuant to such plans, practices,
programs and policies, the Executive shall be considered to have remained employed for the remaining term of this Agreement, as
it may have been renewed pursuant to Section 1, "Employment Period," and to have retired on the last day of such period.

 

4.2           Death.
If the Executive's employment is terminated by reason of the Executive's death during the Employment Period, this Agreement shall
terminate without further obligations to the Executive's legal representatives under this Agreement, other than for (i) payment
of any death benefit compensation under other contracts; (ii) payment of the amounts due under the term life insurance policy described
in Section 2.2.4, “Incentive Savings and Retirement Plans”; (iii) full vesting and non-forfeiture of stock options
granted to Executive; and (iv) the timely payment or provision of Other Benefits. Such amounts shall be paid to the Executive's
estate or beneficiary, as applicable, in a lump sum in cash within thirty (30) days of the Date of Termination. The term “Other
Benefits” as utilized in this Section 4.2 shall include, without limitation, and the Executive's estate and/or beneficiaries
shall be entitled to receive, benefits at least equal to the most favorable benefits provided by the Company to the estates and
beneficiaries of other executives of the Company under such plans, programs, practices and policies relating to death benefits,
if any, as in effect with respect to other executives and their beneficiaries at any time during the one hundred twenty (120) day
period immediately preceding the Effective Date or, if more favorable to the Executive's estate and/or the Executive's beneficiaries,
as in effect on the date of the Executive's death with respect to other executives of the Company and their beneficiaries.

 

4.3           Disability.
If the Executive's employment is terminated by reason of the Executive's Disability under Section 3.1, "Death or Disability,"
during the Employment Period, this Agreement shall terminate without further obligations to the Company, other than for the timely
payment or provision of (i) Base Salary through the Termination Date; (ii) accrued bonus through the Termination Date; (iii) payment
of pension, 401(k), and Other Disability Benefits; (iv) full vesting and non-forfeiture of stock options; and (v) the receipt of
fully-paid Welfare Benefit Plans under Section 2.2.5, "Welfare Benefit Plans," for the balance of the term of this Agreement.
In addition, Executive shall be paid for the term of this Agreement at regular pay periods that amount equal to the difference
between his Annual Base Salary and the disability insurance payment received by the disabled Executive under the Company's disability
insurance program. The term “Other Benefits” as utilized in this Section 4.3 shall include, and the Executive shall
be entitled after the Disability Effective Date to receive, disability and other benefits at least equal to the most favorable
of those generally provided by the Company to disabled executives and/or their families in accordance with such plans, programs,
practices and policies relating to disability, if any, as in effect generally with respect to other executives and their families
at any time during the one hundred twenty (120) day period immediately preceding the Effective Date or, if more favorable to the
Executive and/or the Executive's family, as in effect at any time thereafter generally with respect to other executives of the
Company and their families.

 

    	Page | 7

    	 

    

 

4.4           Termination
by the Company for Cause; and Termination by the Executive for Other than for Good Reason. If the Executive's employment shall
be terminated for Cause during the Employment Period, this Agreement shall terminate without further obligations to the Company
other than the obligation to pay to the Executive: (i) the Annual Base Salary through the Date of Termination; (ii) the amount
of any compensation previously deferred by the Executive; and (iii) Other Benefits under Sections 4.2, “Death,” and
Section 4.3, “Disability,” in each case to the extent therefore unpaid. If the Executive voluntarily terminates employment
during the Employment Period, excluding a termination for Good Reason by the Executive, this Agreement shall terminate without
further obligations to the Company, other than for items (i), (ii) and (iii) of this paragraph, accrued but unpaid vacation leave,
and the timely payment or provision of Other Benefits. In such case, all accrued obligations shall be paid to the Executive in
a lump sum in cash within thirty (30) days of the Date of Termination. A termination of the Executive by the Company for Cause
or a termination by the Executive for other than Good Reason shall not affect the status of any vested stock options.

 

4.5           Change
in Control. If, during the term of this Agreement and within one year after a “Change in Control,” as defined below,
the Company shall terminate the Executive’s employment other than for Cause, Death or Disability or the Executive shall terminate
employment for Good Reason, the Company shall (i) pay to the Executive the amount of compensation that would have been payable
to the Executive over the period then remaining under this Agreement and on the same schedule as such payments would have been
due had the termination not occurred, provided that the Company shall pay the Executive for a minimum of twenty-four (24) months
on this basis; and (ii) cause all stock options issued to the Executive that have not vested as of the termination to be immediately
vested.

 

4.5.1           The
term "Change in Control" shall mean an event or the last of a series of related events by which:

 

4.5.2           the
Company merges or consolidates with or into another entity or completes any other corporate reorganization, if more than fifty
percent (50%) of the combined voting power of the continuing or surviving entity's securities outstanding immediately after such
merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately prior to
such merger, consolidation or other reorganization; or

 

4.5.3           the
Company sells, transfers or otherwise disposes of all or substantially all of the consolidated assets of the Company or its subsidiaries
and the Company does not own stock in the purchaser or purchasers having more than fifty percent (50%) of the voting power in elections
for directors; or

 

    	Page | 8

    	 

    

 

4.5.4           the
composition of the Board changes, as a result of which fewer than one half of the incumbent directors are directors who either:

 

		(i)	had been directors of the Company twenty-four (24) months prior to such change; or

 

		(ii)	were elected, or nominated for election, to the Board with the affirmative votes of at least a
majority of the directors who had been directors of the Company twenty-four (24) months prior to such change and who were still
in office at the time of the election or nomination.

 

A transaction shall not constitute a Change
of Control if (i) its sole purpose is to change the state of the Company's incorporation or to create a holding company that will
be owned in substantially the same proportions by the Persons who held the Company's securities immediately before such transaction
or (ii) the Company acquires another corporation or entity through the purchase or other acquisition of control of the voting stock
or assets of such corporation or entity; or

 

4.5.5           any
Person acquires direct or indirect beneficial ownership of more than thirty-three percent (33%) of the voting power of the Company,
whether in a single transaction or a series of transactions.

 

4.5.6           As
used in this Agreement, a "Person" means any "person," as that term is used in Sections 13(d) and 14(d) of
the Securities and Exchange Act of 1934, as amended, together with all of that person's "affiliates" and "associates,"
as those terms are defined in Rule 12b-2 of such Act.

 

5.          NON-EXCLUSIVITY
OF RIGHTS. Nothing in this Agreement shall prevent or limit the Executive's continuing or future participation in any plan, program,
policy or practice provided by the Company and for which the Executive may qualify, nor, subject to Section 4, “Obligations
of the Company Upon Termination,” shall anything herein limit or otherwise affect such rights as the Executive may have under
any other contract or agreement with the Company. Amounts which are vested benefits or which the Executive is otherwise entitled
to receive under any plan, policy, practice or program of or any contract or agreement with the Company at or subsequent to the
Date of Termination shall be payable in accordance with such plan, policy, practice or program or contract or agreement except
as explicitly modified by this Agreement. Executive is currently a party to, and in the future may be a party to other, employment
arrangements, agreements, and incentive plans, including but not limited to, a death benefit plan, stock option agreements, and
a change of control agreement. This Agreement shall not supersede any of the terms or conditions of such other agreements. To the
extent of any inconsistency in these agreements, the agreements shall be interpreted and applied in the way to confer upon the
Executive the greatest benefits. The agreements shall be read and applied consistent with each other, but in the event of a conflict,
the terms most favorable to the Executive will be applied from the various provisions of the agreements in the aggregate.

 

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6.          FULL
SETTLEMENT; LEGAL FEES. The Company's obligation to make the payments provided for in this Agreement and otherwise to perform its
obligations hereunder shall not be subject to any set-off, counterclaim, recoupment, defense or other claim, right or action that
the Company may have against the Executive. In no event shall the Executive be obligated to seek other employment or take any other
action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement and except as
specifically provided in Section 4.1.6, such amounts shall not be reduced whether or not the Executive obtains other employment.
Provided that the Executive is the prevailing party, the Company will reimburse the Executive to the full extent permitted by law,
all legal fees and expenses that the Executive may reasonably incur as a result of any contest by the Company, the Executive or
others of the validity or enforceability of, or liability or entitlement under, any provision of this Agreement or any guarantee
of performance thereof (whether such contest is between the Company and the Executive or between either of them and any third party,
and including as a result of any contest by the Executive about the amount of any payment pursuant to this Agreement), plus in
each case interest on any delayed payment at the applicable Federal rate ("Applicable Federal Rate") provided for in
Section 7872(f)(2)(A) of the Internal Revenue Code of 1986, as amended (the "Code").

 

7.          CONFIDENTIAL
INFORMATION; NONCOMPETITION.

 

7.1           Nondisclosure.
The Executive shall hold in fiduciary capacity for the benefit of the Company all secret, proprietary or Confidential Information,
knowledge or data relating to the Company and its businesses, which shall have been obtained by the Executive during the Executive's
employment by the Company. During the period the Executive is employed with the Company, and after termination of the Executive's
employment with the Company, the Executive shall not, without the prior written consent of the Company or as may otherwise be required
by law or legal process, communicate or divulge any such information, knowledge or data to anyone other than the Company and those
designated by it. The restrictions set forth in this Section 7 will not apply to information which is generally known to the public
or in the trade, unless such knowledge results from an unauthorized disclosure by the Executive or representatives of the Executive
in violation of this Agreement. This exception will not affect the application of any other provisions of this Agreement to such
information in accordance with the terms of such provision. All documents and tangible things embodying or containing Confidential
Information are the Company's exclusive property. The Executive will protect the confidentiality of their content and will return
all copies, facsimiles and specimens of them and any other form of Confidential Information in the Executive's possession, custody
or control to the Company before leaving the employment with the Company.

 

7.2           Definition
of Confidential Information.  The term "Confidential Information" includes all information of any nature and in any
form which at the time or times concerned is not generally known to the public, other than by act or acts of an employee not authorized
by Company to disclose such information, and which relates to any one or more of the aspects of the present and past business of
Company or any of its predecessors, including, but not limited to, patents and patent applications, inventions and improvements,
whether patentable or not, development projects, policies, processes, formulas, techniques, know-how and other facts relating to
sales, advertising, franchising, promotions, financial matters, customers, customer lists, customer purchases or requirements,
licenses or trade secrets.

 

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7.3           Competition.
During the term of the Executive's employment with the Company, and for the period during which he receives compensation from the
Company under Section 4.1.1 or two years, (whichever is longer) after the termination of his employment with the Company, the Executive
will not, directly or indirectly, engage, participate or invest in or be employed by any business anywhere in the world which:

 

7.3.1           develops
or manufactures products that are competitive with or similar to products developed or manufactured by the Company; or

 

7.3.2           distributes,
markets or otherwise sells products manufactured by others which are competitive with or similar to products distributed, marketed
or sold by the Company; or provides services which are competitive with or similar to services provided by the Company, including,
in each case, any products or services the Company has under development or which are the subject of active planning at any time
during the term of the Executive's employment.

 

The foregoing restriction
shall apply regardless of the capacity in which the Executive engages or engaged, participates or participated, or invests or invested
in or is employed by a given business, whether as owner, partner, shareholder, consultant, agent, Executive, co-venturer or otherwise.
In addition, during the term of the Executive's employment with the Company, and for a period of twelve (12) months thereafter,
the Executive will not, directly or indirectly, without the prior written consent of the Company, solicit for hire with any business
any person who is employed by the Company at such time or was employed by the Company within the preceding twelve (12) months.
The provisions of this Section 7 shall not prevent the Executive from acquiring or holding publicly traded stock or other publicly
traded securities of a business, so long as the Executive's ownership does not exceed ten percent (10%) of the outstanding securities
of such company of the same class as those held by the Executive or from engaging in any activity or having an ownership interest
in any business that is reviewed by the Board. The Executive understands that the restrictions set out in this Section 7 are intended
to protect the Company's interest in its secret, proprietary or Confidential Information and established customer relationships
and goodwill, and agrees that such restrictions are reasonable and appropriate for this purpose.

 

7.4           Damages.
The Executive agrees that it would be difficult to measure any damages caused to the Company which might result from any breach
by the Executive of the promises set forth in this Agreement, and that in any event money damages would be an inadequate remedy
for any such breach. Accordingly, the Executive agrees that in the case of breach, or proposed breach, of any portion of this Agreement,
the Company shall be entitled, in addition to all other remedies that it may have, to an injunction or other appropriate equitable
relief to restrain any such breach without showing or proving any actual damage to the Company.

 

    	Page | 11

    	 

    

 

8.          DISPUTE
RESOLUTION. If there shall be any dispute between the Company and the Executive (i) in the event of any termination of the Executive’s
employment by the Company, provided such termination was not for Cause, or (ii) otherwise arising out of this Agreement, the dispute
will be resolved in accordance with the dispute resolution procedures set forth in Exhibit A attached to this Agreement, the provisions
of which are incorporated as a part of this Agreement, and the parties of this Agreement agree that such dispute resolution procedures
will be the exclusive method for resolution of disputes under this Agreement; provided, however, that (a) either party may
seek preliminary judicial relief if, in such party’s judgment, such action is necessary to avoid irreparable injury during
the pendency of such procedures, and (b) nothing in Exhibit A will prevent either party from exercising the rights of termination
set forth in this Agreement. IT IS EXPRESSLY UNDERSTOOD THAT BY SIGNING THIS AGREEMENT, WHICH INCORPORATES BINDING ARBITRATION,
THE COMPANY AND EXECUTIVE AGREE, EXCEPT AS SPECIFICALLY PROVIDED OTHERWISE IN SECTION 7, “CONFIDENTIAL INFORMATION; NONCOMPETITION,”
AND THIS SECTION 8, TO WAIVE COURT OR JURY TRIAL AND TO WAIVE PUNITIVE, STATUTORY, CONSEQUENTIAL, AND ANY DAMAGES, OTHER THAN COMPENSATORY
DAMAGES.

 

9.          SUCCESSORS.

 

9.1           This
Agreement is personal to the Executive and without the prior written consent of the Company shall not be assigned by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable
by the Executive's legal representatives.

 

9.2           This
Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

 

9.3           The
Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and
to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement,
the term "Company" shall mean the Company as defined above and any successor to its business and/or assets as aforesaid
which assumes and agrees to perform this Agreement by operation of law, or otherwise.

 

10.         MISCELLANEOUS.

 

10.1         This
Agreement shall be governed by and construed in accordance with the laws of the State of Michigan, without reference to principles
of conflict of laws. The captions of this Agreement are set forth for convenience only and shall have no separate force or effect.
This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective
successors and legal representatives.

 

10.2         All
notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

    	Page | 12

    	 

    

 

If to the Executive:

David W. Morgan

201 North Squirrel Road, Apt.
1014

Auburn Hills, Michigan 48326

 

If to the Company:

 

Cirque Energy, Inc.

ATTN: Secretary

645 Griswold Street, Suite 3274

Detroit, Michigan 48226

 

With a copy to:

 

Chairman – Board of Directors

c/o Cirque Energy, Inc.

645 Griswold Street, Suite 3274

Detroit, Michigan 48226

 

or to such other address as either party
shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually
received by the addressee.

 

10.3         The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement.

 

10.4         The
Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required
to be withheld pursuant to any applicable law or regulation.

 

10.5         The
failure of the Executive or the Company to insist upon strict compliance with any provision hereof or any other provision of this
Agreement or the failure to assert any right the Executive or the Company may have hereunder, including, without limitation, shall
not be deemed to be a waiver of such provision or right or any other provision or right of this Agreement, except that if the Executive
chooses to terminate employment for Good Reason pursuant to Section 3.3, "Good Reason," and complies with the provisions
of Section 3, “Termination of Employment,” the Executive shall only be entitled to compensation and benefits applicable
to such event of termination.

 

    	Page | 13

    	 

    

 

IN WITNESS WHEREOF,
pursuant to the authorization from its Board of Directors, the Company has caused this Agreement to be executed in its name on
its behalf, as of the dates first above written.

 

	 	COMPANY:
	 	 
	 	CIRQUE ENERGY, INC.
	 	 	 
	 	By	 
	 	Joseph L. DuRant
	 	Chairman of the Board of Directors
	 	 
	 	EXECUTIVE:
	 	 
	 	 
	 	David W. Morgan

 

    	Page | 14

    	 

    

 

EXHIBIT A

 

DISPUTE RESOLUTION PROCEDURES

 

1.          If
a controversy arises that is covered by Section 8, “Dispute Resolution,” of the Agreement, then not later than twelve
(12) months from the date of the event that is the subject of dispute either party may serve on the other a written notice specifying
the existence of such controversy and setting forth in reasonably specific detail the grounds of the notice ("Notice of Controversy");
provided that, in any event, the other party will have at least thirty (30) days from and after the date of the Notice of
Controversy to serve a written notice of any counterclaim ("Notice of Counterclaim"). The Notice of Counterclaim will
specify the claim or claims in reasonably specific detail. If the Notice of Controversy or the Notice of Counterclaim, as the case
may be, is not served within the applicable period, the claim set forth therein will be deemed to have been waived, abandoned and
rendered unenforceable.

 

2.          For
a three (3) week period following receipt of the Notice of Controversy or the Notice of Counterclaim, as the case may be, the parties
will make a good faith effort to resolve the dispute through negotiation ("Period of Negotiation"). Neither party will
take any action during the Period of Negotiation to initiate arbitration proceedings.

 

3.          If
the parties agree during the Period of Negotiation to mediate the dispute, then the Period of Negotiation will be extended by an
amount of time to be agreed upon by the parties to permit such mediation. In no event, however, may the Period of Negotiation be
extended by more than five weeks or, stated differently, in no event may the Period of Negotiation be extended to encompass more
than a total of eight weeks.

 

4.          If
the parties agree to mediate the dispute but are thereafter unable to agree within a week on the format and procedures for the
mediation, then the effort to mediate will cease, and the period of Negotiation will terminate four weeks from the Notice of Controversy
or the Notice of Counterclaim, as the case may be.

 

5.          Following
the termination of the Period of Negotiation, the dispute, including the main claim and counterclaim, if any, will be settled by
arbitration, governed by the Federal Arbitration Act, 9 U.S.C. §1 et seq. ("FAA"), and judgment upon the award may
be entered in any court having jurisdiction. The format and procedures of the arbitration are set forth below (referred to below
as the "Arbitration Agreement").

 

6.          A
notice of intention to arbitrate ("Notice of Arbitration") will be served within forty-five (45) days of the termination
of the Period of Negotiation. If the Notice of Arbitration is not served within this period, the claim set forth in the Notice
of Controversy or the Notice of Counterclaim, as the case may be, will be deemed to have been waived, abandoned and rendered unenforceable.

 

7.          The
arbitration, including the Notice of Arbitration, will be governed by the Commercial Rules of the American Arbitration Association
("AAA") in effect on the date of the Notice of Arbitration, except that the terms of this Arbitration Agreement will
control in the event of any difference or conflict between such Rules and the terms of this Arbitration Agreement.

 

    	Page | 1

    	 

    

 

8.          The
arbitrator will reach a decision on the merits on the basis of applicable legal principles as embodied in the law of the State
of Michigan. The arbitration hearing will take place in Detroit, Michigan.

 

9.          There
will be one arbitrator, regardless of the amount in controversy. The arbitrator selected, in order to be eligible to serve, will
be a lawyer in Detroit, Michigan with at least fifteen (15) years’ experience specializing in either general commercial litigation
or general corporate and commercial matters. In the event the parties cannot agree on a mutually acceptable single arbitrator from
the list submitted by the AAA, the AAA will appoint the arbitrator who will meet the foregoing criteria.

 

10.         At
the time of appointment and as a condition of the appointment, the arbitrator will be apprised of the time limitations and other
provisions of this Arbitration Agreement and will indicate such dispute resolver's agreement to the Tribunal Administrator to comply
with such provisions and time limitations.

 

11.         During
the thirty (30) day period following appointment of the arbitrator, either party may serve on the other a request for limited numbers
of documents directly related to the dispute. Such documents will be produced within seven (7) days of the request.

 

12.         Following
the thirty (30) day period of document production, there will be a forty-five (45) day period during which limited depositions
will be permissible. Neither party will take more than five (5) depositions, and no deposition will exceed three (3) hours of direct
testimony.

 

13.         Disputes
as to discovery or prehearing matters of a procedural nature will be promptly submitted to the arbitrator pursuant to telephone
conference call or otherwise. The arbitrator will make every effort to render a ruling on such interim matters at the time of the
hearing (or conference call) or within five (5) business days thereafter.

 

14.         Following
the period of depositions, the arbitration hearing will promptly commence. The arbitrator will make every effort to commence the
hearing within thirty (30) days of the conclusion of the deposition period and, in addition, will make every effort to conduct
the hearing on consecutive business days to conclusion.

 

15.         An
award will be rendered, at the latest, within nine (9) months of the date of the Notice of Arbitration and within thirty (30)
days of the close of the arbitration hearing. The award will set forth the grounds for the decision (findings of fact and conclusions
of law) in reasonably specific detail. The award will be final and nonappealable except as provided in the FAA and except that
a court of competent jurisdiction will have the power to review whether, as a matter of law, based upon the findings of fact by
the arbitrator, the award should be confirmed or should be modified or vacated in order to correct any errors of law made by the
arbitrator. Such judicial review will be limited to issues of law, and the parties agree that the findings of fact made by the
arbitrator will be final and binding on the parties and will serve as the facts to be relied upon by the court in determining
the extent to which the award should be confirmed, modified or vacated.

 

    	Page | 2

    	 

    

 

The award may only be made for compensatory damages, and
if any other damages (whether exemplary, punitive, consequential, statutory or other) are included, the award will be vacated
and remanded, or modified or corrected, as appropriate to promote this damage limitation.

 

    	Page | 3

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