Document:

Exhibit 10.2

  

AMESITE
INC. 

 

2018
EQUITY INCENTIVE PLAN

 

Adopted
by Board: April 26, 2018

Approved
by Stockholders: April 26, 2018

Termination
Date: April 26, 2028

  

	I.	INTRODUCTION
    

 

1.1
Purposes. The purposes of the Amesite Inc. 2018 Equity Incentive Plan, effective _________, as set forth herein (this
“Plan”) are (i) to align the interests of the Company’s stockholders and the recipients of awards under
this Plan by increasing the proprietary interest of such recipients in the Company’s growth and success, (ii) to advance
the interests of the Company by attracting and retaining directors, officers, employees and other service providers and (iii)
to motivate such persons to act in the long-term best interests of the Company and its stockholders.

 

1.2
Certain Definitions. 

 

“Agreement”
shall mean an electronic or written agreement evidencing an award hereunder between the Company and the recipient of such
award.

 

“Assumed”
means that pursuant to a Change in Control, either (i) the award is expressly affirmed by the Company or (ii) the contractual
obligations represented by the award are expressly assumed (and not simply by operation of law) by the successor entity or its
parent in connection with the Change in Control with appropriate adjustments to the number and type of securities of the successor
entity or its parent subject to the award and the exercise or purchase price thereof which at least preserves the compensation
element of the award existing at the time of the Change in Control as determined in accordance with the instruments evidencing
the agreement to assume the award.

 

“Board”
shall mean the Board of Directors of the Company.

 

“Bonus
Shares” shall mean Shares which are not subject to a Restriction Period or Performance Measures.

 

“Bonus
Share Award” shall mean an award of Bonus Shares under this Plan.

 

“Cash-Based
Award” shall mean an award denominated in cash that may be settled in cash and/or Shares, which may be subject to
restrictions, as established by the Committee.

 

“Change
in Control” shall have the meaning set forth in Section 6.8(b).

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

“Committee”
shall mean the Committee designated by the Board, or a subcommittee thereof, consisting of two or more members of the Board,
each of whom is intended to be (i) a “Non-Employee Director” within the meaning of Rule 16b-3 under the Exchange Act
and (ii) “independent” within the meaning of the rules of the Nasdaq Global Market or any other stock exchange on
which Shares are then traded.

 

“Common
Stock” shall mean the common stock of the Company.

 

“Company”
shall mean Amesite Inc., a Delaware corporation, or any successor thereto.

 

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

 

“Fair
Market Value” shall mean the closing transaction price of a Share as reported on the Nasdaq Global Market on the
date as of which such value is being determined or, if Shares are not listed on the Nasdaq Global Market, the closing transaction
price of a Share on the principal national stock exchange on which Shares are traded on the date as of which such value is being
determined or, if there shall be no reported transactions for such date, on the next preceding date for which transactions were
reported; provided, however, that if Shares are not listed on a national stock exchange or if Fair Market Value
for any date cannot be so determined, Fair Market Value shall be determined by the Committee by whatever means or method as the
Committee, in the good faith exercise of its discretion, shall at such time deem appropriate and in compliance with Section 409A
of the Code.

 

“Free-Standing
SAR” shall mean an SAR which is not granted in tandem with, or by reference to, an option, which entitles the holder
thereof to receive, upon exercise, Shares (which may be Restricted Shares) or, to the extent provided in the applicable Agreement,
cash or a combination thereof, with an aggregate value equal to the excess of the Fair Market Value of one Share on the date of
exercise over the base price of such SAR, multiplied by the number of such SARs which are exercised.

 

“Incentive
Stock Option” shall mean an option to purchase Shares that meets the requirements of Section 422 of the Code, or
any successor provision, which is intended by the Committee to constitute an Incentive Stock Option.

 

“Incumbent
Director” shall have the meaning set forth in Section 6.8(b)(iii).

 

“Initial
Public Offering” shall mean the initial public offering of the Company registered on Form S-1 (or any successor
form under the Securities Act of 1933, as amended).

 

    	 	1	 

     

    

 

“Non-Employee
Director” shall mean any director of the Company who is not an officer or employee of the Company or any Subsidiary.

   

“Nonqualified
Option” shall mean an option to purchase Shares which is not an Incentive Stock Option.

 

“Performance
Measures” shall mean the criteria and objectives, established by the Committee in its sole discretion, which shall
be satisfied or met (i) as a condition to the grant or exercisability of all or a portion of an option or SAR or (ii) during the
applicable Restriction Period or Performance Period as a condition to the vesting of the holder’s interest, in the case
of a Restricted Share Award, of the Shares subject to such award, or, in the case of a Restricted Share Unit Award, Performance
Unit Award or Cash-Based Award, to the holder’s receipt of the Shares subject to such award or of payment with respect to
such award. The performance goals may consist of any objective or subjective corporate- wide or subsidiary, division, operating
unit or individual measures, whether or not listed herein. The applicable performance measures may be applied on a pre- or post-tax
basis and may be adjusted as determined by the Committee to include or exclude objectively determinable components of any performance
measure, including, without limitation, special charges such as restructuring or impairment charges, debt refinancing costs, extraordinary
or noncash items, unusual, nonrecurring or one-time events affecting the Company or its financial statements or changes in law
or accounting principles (“Adjustment Events”). In the sole discretion of the Committee, the Committee may amend or
adjust the Performance Measures or other terms and conditions of an outstanding award in recognition of any Adjustment Events.
Performance goals shall be subject to such other special rules and conditions as the Committee may establish at any time.

  

“Performance
Period” shall mean any period designated by the Committee during which (i) the Performance Measures applicable to
an award shall be measured and (ii) the conditions to vesting applicable to an award shall remain in effect.

 

“Performance
Unit” shall mean a right to receive, contingent upon the attainment of specified Performance Measures within a specified
Performance Period, a specified cash amount or, in lieu thereof and to the extent set forth in the applicable award Agreement,
Shares having a Fair Market Value equal to such cash amount.

 

“Performance
Unit Award” shall mean an award of Performance Units under this Plan.

 

“Replaced”
means that pursuant to a Change in Control the award is replaced with a comparable stock award or a cash incentive award or
program of the Company, the successor entity (if applicable) or parent of either of them which preserves the compensation element
of such award existing at the time of the Change in Control and provides for subsequent payout in accordance with the same (or,
for the participant, a more favorable) vesting schedule applicable to such award. The determination of award comparability shall
be made by the Committee and its determination shall be final, binding and conclusive.

 

“Restricted
Shares” shall mean Shares which are subject to a Restriction Period and which may, in addition thereto, be subject
to the attainment of specified Performance Measures within a specified Performance Period.

 

“Restricted
Share Award” shall mean an award of Restricted Shares under this Plan.

 

“Restricted
Share Unit” shall mean a right to receive one Share or, in lieu thereof and to the extent set forth in the applicable
award Agreement, the Fair Market Value of such Share in cash, which shall be contingent upon the expiration of a specified Restriction
Period and which may, in addition thereto, be contingent upon the attainment of specified Performance Measures within a specified
Performance Period.

 

“Restricted
Share Unit Award” shall mean an award of Restricted Share Units under this Plan.

 

“Restriction
Period” shall mean any period designated by the Committee during which (i) the Shares subject to a Restricted Share
Award may not be sold, transferred, assigned, pledged, hypothecated or otherwise encumbered or disposed of, except as provided
in this Plan or the Agreement relating to such award, or (ii) the conditions to vesting applicable to a Restricted Share Unit
Award shall remain in effect.

 

“SAR”
shall mean a share appreciation right which may be a Free-Standing SAR or a Tandem SAR.

 

“Share”
shall mean a share of the Common Stock, $0.0001 par value per share, of the Company, and all rights appurtenant thereto.

  

“Share
Award” shall mean a Bonus Share Award, Restricted Share Award or Restricted Share Unit Award.

 

“Subsidiary”
shall mean any corporation, limited liability company, partnership, joint venture or similar entity in which the Company owns,
directly or indirectly, an equity interest possessing more than 50% of the combined voting power of the total outstanding equity
interests of such entity.

 

“Substitute
Award” shall mean an award granted under this Plan upon the assumption of, or in substitution for, outstanding equity
awards previously granted by a company or other entity in connection with a corporate transaction, including a merger, combination,
consolidation or acquisition of property or stock; provided, however, that in no event shall the term “Substitute
Award” be construed to refer to an award made in connection with the cancellation and repricing of an option or SAR.

 

“Tandem
SAR” shall mean an SAR which is granted in tandem with, or by reference to, an option (including a Nonqualified
Option granted prior to the date of grant of the SAR), which entitles the holder thereof to receive, upon exercise of such SAR
and surrender for cancellation of all or a portion of such option, Shares (which may be Restricted Shares) or, to the extent provided
in the applicable Agreement, cash or a combination thereof, with an aggregate value equal to the excess of the Fair Market Value
of one Share on the date of exercise over the base price of such SAR, multiplied by the number of Shares subject to such option,
or portion thereof, which is surrendered.

 

“Tax
Date” shall have the meaning set forth in Section 6.5.

  

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“Ten
Percent Holder” shall have the meaning set forth in Section 2.1(a).

 

1.3
Administration. This Plan shall be administered by the Committee. Any one or a combination of the following awards
may be made under this Plan to eligible persons: (i) options to purchase Shares in the form of Incentive Stock Options or Nonqualified
Options, (ii) SARs in the form of Tandem SARs or Free-Standing SARs, (iii) Share Awards in the form of Bonus Shares, Restricted
Shares or Restricted Share Units, (iv) Performance Units and (v) Cash-Based Awards. The Committee shall, subject to the terms
of this Plan, select eligible persons for participation in this Plan and determine the form, amount and timing of each award to
such persons and, if applicable, the number of Shares, the number of SARs, the number of Restricted Share Units, the value of
Cash-Based Awards and the number of Performance Units subject to such an award, the exercise price or base price associated with
the award, the time and conditions of exercise or settlement of the award and all other terms and conditions of the award, including,
without limitation, the form of the Agreement evidencing the award. The Committee may, in its sole discretion and for any reason
at any time, take action such that (i) any or all outstanding options and SARs shall become exercisable in part or in full, (ii)
all or a portion of the Restriction Period applicable to any outstanding Restricted Shares or Restricted Share Units shall lapse,
(iii) all or a portion of the Performance Period applicable to any outstanding award shall lapse and (iv) the Performance Measures
(if any) applicable to any outstanding award shall be deemed to be satisfied at the target or any other level. The Committee shall,
subject to the terms of this Plan, interpret this Plan and the application thereof, establish rules and regulations it deems necessary
or desirable for the administration of this Plan and may impose, incidental to the grant of an award, conditions with respect
to the award. All such interpretations, rules, regulations and conditions shall be conclusive and binding on all parties.

 

The
Committee may delegate some or all of its power and authority hereunder to the Board or, subject to applicable law, to the Chief
Executive Officer and President or such other executive officer as the Committee deems appropriate; provided, however,
that (i) the Committee may not delegate its power and authority to the Board or the President and Chief Executive Officer or other
executive officer of the Company with regard to the grant of an award to any person who is a Covered Employee or who, in the Committee’s
judgment, is likely to be a Covered Employee at any time during the period an award hereunder to such employee would be outstanding
and (ii) the Committee may not delegate its power and authority to the President and Chief Executive Officer or other executive
officer of the Company with regard to the selection for participation in this Plan of an officer, director or other person subject
to Section 16 of the Exchange Act or decisions concerning the timing, pricing or amount of an award to such an officer, director
or other person.

 

No
member of the Board or Committee, and neither the Chief Executive Officer and President or any other executive officer to whom
the Committee delegates any of its power and authority hereunder, shall be liable for any act, omission, interpretation, construction
or determination made in connection with this Plan in good faith, and the members of the Board and the Committee and the Chief
Executive Officer and President and any other executive officer shall be entitled to indemnification and reimbursement by the
Company in respect of any claim, loss, damage or expense (including attorneys’ fees) arising therefrom to the full extent
permitted by law (except as otherwise may be provided in the Company’s Certificate of Incorporation or By-Laws, each as
may be amended from time to time) and under any directors’ and officers’ liability insurance that may be in effect
from time to time.

 

A
majority of the Committee shall constitute a quorum. The acts of the Committee shall be either (i) acts of a majority of the members
of the Committee present at any meeting at which a quorum is present or (ii) acts approved in writing by all of the members of
the Committee without a meeting.

 

1.4
Eligibility. Participants in this Plan shall consist of such officers, Non-Employee Directors, employees, consultants,
agents and independent contractors, and persons expected to become officers, Non-Employee Directors, employees, consultants, agents,
and independent contractors of the Company and its Subsidiaries as the Committee in its sole discretion may select from time to
time. The Committee’s selection of a person to participate in this Plan at any time shall not require the Committee to select
such person to participate in this Plan at any other time. For purposes of this Plan and except as otherwise provided for in an
Agreement, references to employment by the Company shall also mean employment by a Subsidiary, and references to employment shall
include service as a Non-Employee Director or independent contractor. The Committee shall determine, in its sole discretion, the
extent to which a participant shall be considered employed during any periods during which such participant is on an approved
leave of absence.

 

1.5
Shares and Cash Available. Subject to adjustment as provided in Section 6.7 and to all other limits set forth in this
Section 1.5, 2,529,000 Shares shall be available for awards under this Plan inclusive of 1,228,195 Shares subject to options originally
granted under the Amesite Inc. 2018 Equity Incentive Plan and assumed in connection with the merger of Amesite Inc. with a subsidiary
of Lola One Acquisition Corporation (the “Assumed Options”). The number of Shares that remain available for future
grants under the Plan shall be reduced by the sum of the aggregate number of Shares which become subject to outstanding options,
outstanding Free-Standing SARs and outstanding Share Awards and delivered upon the settlement of Performance Units. As of the
first day of each calendar year beginning on or after January 1, 2021, the number of Shares available for all awards under the
Plan, other than Incentive Stock Options, shall automatically increase by a number equal to the least of (x) 5% of the number
of Shares that are issued and outstanding as of such date, or (y) a lesser number of Shares determined by the Committee. To the
extent that Shares subject to an outstanding option, SAR, Share Award or other award granted under the Plan are not issued or
delivered by reason of (i) the expiration, termination, cancellation or forfeiture of such award (excluding Shares subject to
an option cancelled upon settlement in Shares of a related tandem SAR or Shares subject to a tandem SAR cancelled upon exercise
of a related option) or (ii) the settlement of such award in cash, then such Shares shall again be available under this Plan,
other than for grants of Incentive Stock Options.

 

To
the extent not prohibited by the listing requirements of the Nasdaq Global Market or any other stock exchange on which Shares
are then traded or applicable laws, any Shares covered by an award which are surrendered (i) in payment of the award exercise
or purchase price (including pursuant to the “net exercise” of an option pursuant to Section 2.1(c), or the “net
settlement” or “net exercise” of a Share-settled SAR pursuant to Section 2.2(c)) or (ii) in satisfaction of
tax withholding obligations incident to the grant, exercise, vesting or settlement of an award shall be deemed not to have been
issued for purposes of determining the maximum number of Shares which may be issued pursuant to all awards under the Plan, unless
otherwise determined by the Committee. Notwithstanding anything in this Section 1.5 to the contrary, Shares subject to an award
under this Plan may not be made available for issuance under this Plan if such shares are shares repurchased on the open market
with the proceeds of an option exercise.

 

    	 	3	 

     

    

 

Other
than with respect to the Assumed Options, the number of Shares for awards under this Plan shall not be reduced by (i) the number
of Shares subject to Substitute Awards or (ii) available shares under a stockholder approved plan of a company or other entity
which was a party to a corporate transaction with the Company (as appropriately adjusted to reflect such corporate transaction)
which become subject to awards granted under this Plan (subject to applicable stock exchange requirements).

 

Shares
to be delivered under this Plan shall be made available from authorized and unissued Shares, or authorized and issued Shares reacquired
and held as treasury shares or otherwise or a combination thereof.

 

1.6
Per Person Limits The aggregate grant date fair value of Shares that may be granted during any fiscal year of the Company
to any Non-Employee Director shall not exceed $150,000; provided, however, that (i) the limit set forth in this sentence shall
be $150,000 in the year in which a Non-Employee Director commences service on the Board and (ii) the limits set forth in this
sentence shall not apply to awards made pursuant to an election to receive the award in lieu of all or a portion of fees received
for service on the Board or any committee thereunder.

  

	II.	OPTIONS
    AND SHARE APPRECIATION RIGHTS 

 

2.1
Options. The Committee may, in its discretion, grant options to purchase Shares to such eligible persons as may
be selected by the Committee. Each option, or portion thereof, that is not an Incentive Stock Option, shall be a Nonqualified
Option. To the extent that the aggregate Fair Market Value (determined as of the date of grant) of Shares with respect to which
options designated as Incentive Stock Options are exercisable for the first time by a participant during any calendar year (under
this Plan or any other plan of the Company, or any parent or Subsidiary) exceeds the amount (currently $100,000) established by
the Code, such options shall constitute Nonqualified Options.

  

Options
shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent
with the terms of this Plan, as the Committee shall deem advisable:

 

(a)
Number of Shares and Purchase Price. The number of Shares subject to an option and the purchase price per Share purchasable
upon exercise of the option shall be determined by the Committee; provided, however, that the purchase price per
Share purchasable upon exercise of an option shall not be less than 100% of the Fair Market Value of a Share on the date of grant
of such option; provided further, that if an Incentive Stock Option shall be granted to any person who, at the time such
option is granted, owns capital stock possessing more than 10 percent of the total combined voting power of all classes of capital
stock of the Company (or of any parent or Subsidiary) (a “Ten Percent Holder”), the purchase price per Share
shall not be less than the price (currently 110% of Fair Market Value) required by the Code in order to constitute an Incentive
Stock Option.

 

Notwithstanding
the foregoing, in the case of an option that is a Substitute Award, the purchase price per Share of the Shares subject to such
option may be less than 100% of the Fair Market Value per Share on the date of grant, provided, that the excess of: (a) the aggregate
Fair Market Value (as of the date such Substitute Award is granted) of the shares subject to the Substitute Award, over (b) the
aggregate purchase price thereof does not exceed the excess of: (x) the aggregate fair market value (as of the time immediately
preceding the transaction giving rise to the Substitute Award, such fair market value to be determined by the Committee) of the
shares of the predecessor company or other entity that were subject to the grant assumed or substituted for by the Company, over
(y) the aggregate purchase price of such shares.

 

(b)
Option Period and Exercisability. The period during which an option may be exercised shall be determined by the Committee;
provided, however, that no option shall be exercised later than ten years after its date of grant; provided further,
that if an Incentive Stock Option shall be granted to a Ten Percent Holder, such option shall not be exercised later than five
years after its date of grant. The Committee may, in its discretion, establish Performance Measures which shall be satisfied or
met as a condition to the grant of an option or to the exercisability of all or a portion of an option. The Committee shall determine
whether an option shall become exercisable in cumulative or non-cumulative installments and in part or in full at any time. An
exercisable option, or portion thereof, may be exercised only with respect to whole Shares. Prior to the exercise of an option,
the holder of such option shall have no rights as a stockholder of the Company with respect to the Shares subject to such option.

 

(c)
Method of Exercise. An option may be exercised (i) by giving written notice to the Company specifying the number of whole
Shares to be purchased and accompanying such notice with payment therefor in full (or arrangement made for such payment to the
Company’s satisfaction) either (A) in cash, (B) by delivery (either actual delivery or by attestation procedures established
by the Company) of Shares having a Fair Market Value, determined as of the date of exercise, equal to the aggregate purchase price
payable by reason of such exercise, (C) authorizing the Company to withhold whole Shares which would otherwise be delivered having
an aggregate Fair Market Value, determined as of the date of exercise, equal to the amount necessary to satisfy such obligation,
(D) in cash by a broker-dealer acceptable to the Company to whom the optionee has submitted an irrevocable notice of exercise
or (E) a combination of (A), (B) and (C), in each case to the extent set forth in the Agreement relating to the option, (ii) if
applicable, by surrendering to the Company any Tandem SARs which are cancelled by reason of the exercise of the option and (iii)
by executing such documents as the Company may reasonably request. Any fraction of a Share which would be required to pay such
purchase price shall be disregarded and the remaining amount due shall be paid in cash by the optionee. No Shares shall be issued
and no certificate representing Shares shall be delivered until the full purchase price therefor and any withholding taxes thereon,
as described in Section 6.5, have been paid (or arrangement made for such payment to the Company’s satisfaction).

 

2.2
Share Appreciation Rights. The Committee may, in its discretion, grant SARs to such eligible persons as may be selected
by the Committee. The Agreement relating to an SAR shall specify whether the SAR is a Tandem SAR or a Free-Standing SAR.

 

SARs
shall be subject to the following terms and conditions and shall contain such additional terms and conditions, not inconsistent
with the terms of this Plan, as the Committee shall deem advisable:

  

    	 	4	 

     

    

 

(a)
Number of SARs and Base Price. The number of SARs subject to an award shall be determined by the Committee. Any Tandem
SAR related to an Incentive Stock Option shall be granted at the same time that such Incentive Stock Option is granted. The base
price of a Tandem SAR shall be the purchase price per Share of the related option. The base price of a Free-Standing SAR shall
be determined by the Committee; provided, however, that such base price shall not be less than 100% of the Fair
Market Value of a Share on the date of grant of such SAR.

  

Notwithstanding
the foregoing, in the case of an SAR that is a Substitute Award, the base price per Share of the Shares subject to such SAR may
be less than 100% of the Fair Market Value per Share on the date of grant, provided, that the excess of: (a) the aggregate Fair
Market Value (as of the date such Substitute Award is granted) of the Shares subject to the Substitute Award, over (b) the aggregate
base price thereof does not exceed the excess of: (x) the aggregate fair market value (as of the time immediately preceding the
transaction giving rise to the Substitute Award, such fair market value to be determined by the Committee) of the shares of the
predecessor company or other entity that were subject to the grant assumed or substituted for by the Company, over (y) the aggregate
base price of such shares.

 

(b)
Exercise Period and Exercisability. The period for the exercise of an SAR shall be determined by the Committee; provided,
however, that no Tandem SAR shall be exercised later than the expiration, cancellation, forfeiture or other termination
of the related option and no Free- Standing SAR shall be exercised later than ten years after its date of grant. The Committee
may, in its discretion, establish Performance Measures which shall be satisfied or met as a condition to the grant of an SAR or
to the exercisability of all or a portion of an SAR. The Committee shall determine whether an SAR may be exercised in cumulative
or non-cumulative installments and in part or in full at any time. An exercisable SAR, or portion thereof, may be exercised, in
the case of a Tandem SAR, only with respect to whole Shares and, in the case of a Free-Standing SAR, only with respect to a whole
number of SARs. If an SAR is exercised for shares of Restricted Shares, a certificate or certificates representing such Restricted
Shares shall be issued in accordance with Section 3.3(c), or such shares shall be transferred to the holder in book entry form
with restrictions on the Shares duly noted, and the holder of such Restricted Shares shall have such rights of a stockholder of
the Company as determined pursuant to Section 3.3(d). Prior to the exercise of an SAR, the holder of such SAR shall have no rights
as a stockholder of the Company with respect to the Shares subject to such SAR.

  

(c)
Method of Exercise. A Tandem SAR may be exercised (i) by giving written notice to the Company specifying the number of
whole SARs which are being exercised, (ii) by surrendering to the Company any options which are cancelled by reason of the exercise
of the Tandem SAR and (iii) by executing such documents as the Company may reasonably request. A Free-Standing SAR may be exercised
(A) by giving written notice to the Company specifying the whole number of SARs which are being exercised and (B) by executing
such documents as the Company may reasonably request. No Shares shall be issued and no certificate representing Shares shall be
delivered until any withholding taxes thereon, as described in Section 6.5, have been paid (or arrangement made for such payment
to the Company’s satisfaction).

 

2.3
Termination of Employment or Service. All of the terms relating to the exercise, cancellation or other disposition
of an option or SAR (i) upon a termination of employment with or service to the Company of the holder of such option or SAR, as
the case may be, whether by reason of disability, retirement, death or any other reason, or (ii) during a paid or unpaid leave
of absence, shall be determined by the Committee and set forth in the applicable award Agreement.

 

2.4
Repricing of Options and SARs. The Committee may reduce, in each case, in its sole discretion and without the approval
of the stockholders of the Company, the exercise price of any option awarded under the Plan and the base appreciation amount of
any SAR awarded under the Plan and to cancel, in each case, without stockholder approval, an option or SAR at a time when its
exercise price or base appreciation amount (as applicable) exceeds the Fair Market Value of the underlying Shares, in exchange
for another option, SAR, Restricted Shares, or other award or for cash.

  

	III.	SHARE
    AWARDS 

 

3.1
Share Awards. The Committee may, in its discretion, grant Share Awards to such eligible persons as may be selected
by the Committee. The Agreement relating to a Share Award shall specify whether the Share Award is a Bonus Share Award, Restricted
Share Award or Restricted Share Unit Award.

 

3.2
Terms of Bonus Share Awards. The number of Shares subject to a Bonus Share Award shall be determined by the Committee.
Bonus Share Awards shall not be subject to any Restriction Periods or Performance Measures. Upon the grant of a Bonus Share Award,
subject to the Company’s right to require payment of any taxes in accordance with Section 6.5, a certificate or certificates
evidencing ownership of the requisite number of Shares shall be delivered to the holder of such award.

 

3.3
Terms of Restricted Share Awards. Restricted Share Awards shall be subject to the following terms and conditions and
shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem
advisable.

 

(a)
Number of Shares and Other Terms. The number of Shares subject to a Restricted Share Award and the Restriction Period,
Performance Period (if any) and Performance Measures (if any) applicable to a Restricted Share Award shall be determined by the
Committee.

 

(b)
Vesting and Forfeiture. The Agreement relating to a Restricted Share Award shall provide, in the manner determined by the
Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of the Shares subject to such award
(i) if the holder of such award remains continuously in the employment or service of the Company during the specified Restriction
Period and (ii) if specified Performance Measures (if any) are satisfied or met during a specified Performance Period, and for
the forfeiture of the Shares subject to such award (x) if the holder of such award does not remain continuously in the employment
or service of the Company during the specified Restriction Period or (y) if specified Performance Measures (if any) are not satisfied
or met during a specified Performance Period.

  

    	 	5	 

     

    

 

(c)
Share Issuance. During the Restriction Period, the Restricted Shares shall be held by a custodian in book entry form with
restrictions on such Shares duly noted or, alternatively, a certificate or certificates representing a Restricted Share Award
shall be registered in the holder’s name and may bear a legend, in addition to any legend which may be required pursuant
to Section 6.6, indicating that the ownership of the Shares represented by such certificate is subject to the restrictions, terms
and conditions of this Plan and the Agreement relating to the Restricted Share Award. All such certificates shall be deposited
with the Company, together with stock powers or other instruments of assignment (including a power of attorney), each endorsed
in blank with a guarantee of signature if deemed necessary or appropriate, which would permit transfer to the Company of all or
a portion of the Shares subject to the Restricted Share Award in the event such award is forfeited in whole or in part. Upon termination
of any applicable Restriction Period (and the satisfaction or attainment of applicable Performance Measures), subject to the Company’s
right to require payment of any taxes in accordance with Section 6.5, the restrictions shall be removed from the requisite number
of any Shares that are held in book entry form, and all certificates evidencing ownership of the requisite number of Shares shall
be delivered to the holder of such award.

   

(d)
Rights with Respect to Restricted Share Awards. Unless otherwise set forth in the Agreement relating to a Restricted Share
Award, and subject to the terms and conditions of a Restricted Share Award, the holder of such award shall have all rights as
a stockholder of the Company, including, but not limited to, voting rights, the right to receive dividends and the right to participate
in any capital adjustment applicable to all holders of Shares; provided, however, that (i) a distribution with respect
to Shares, other than a regular cash dividend, and (ii) a regular cash dividend with respect to Shares that are subject to performance-based
vesting conditions, in each case, shall be deposited with the Company and shall be subject to the same restrictions as the Shares
with respect to which such distribution was made.

 

3.4
Terms of Restricted Share Unit Awards. Restricted Share Unit Awards shall be subject to the following terms and conditions
and shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem
advisable.

 

(a)
Number of Shares and Other Terms. The number of Shares subject to a Restricted Share Unit Award and the Restriction Period,
Performance Period (if any) and Performance Measures (if any) applicable to a Restricted Share Unit Award shall be determined
by the Committee.

 

(b)
Vesting and Forfeiture. The Agreement relating to a Restricted Share Unit Award shall provide, in the manner determined
by the Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of such Restricted Share Unit
Award (i) if the holder of such award remains continuously in the employment or service of the Company during the specified Restriction
Period and (ii) if specified Performance Measures (if any) are satisfied or met during a specified Performance Period, and for
the forfeiture of the Shares subject to such award (x) if the holder of such award does not remain continuously in the employment
or service of the Company during the specified Restriction Period or (y) if specified Performance Measures (if any) are not satisfied
or met during a specified Performance Period.

 

(c)
Settlement of Vested Restricted Share Unit Awards. The Agreement relating to a Restricted Share Unit Award shall specify
(i) whether such award may be settled in Shares or cash or a combination thereof and (ii) whether the holder thereof shall be
entitled to receive, on a current or deferred basis, dividend equivalents, and, if determined by the Committee, interest on, or
the deemed reinvestment of, any deferred dividend equivalents, with respect to the number of Shares subject to such award. Any
dividend equivalents with respect to Restricted Share Units that are subject to performance-based vesting conditions shall be
subject to the same restrictions as such Restricted Share Units. Prior to the settlement of a Restricted Share Unit Award, the
holder of such award shall have no rights as a stockholder of the Company with respect to the Shares subject to such award.

 

3.5
Termination of Employment or Service. All of the terms relating to the satisfaction of Performance Measures and the
termination of the Restriction Period or Performance Period relating to a Share Award, or any forfeiture and cancellation of such
award (i) upon a termination of employment or service with the Company of the holder of such award, whether by reason of disability,
retirement, death or any other reason, or (ii) during a paid or unpaid leave of absence, shall be determined by the Committee
and set forth in the applicable award Agreement.

  

	IV.	PERFORMANCE
    UNIT AWARDS 

 

4.1
Performance Unit Awards. The Committee may, in its discretion, grant Performance Unit Awards to such eligible persons
as may be selected by the Committee.

 

4.2
Terms of Performance Unit Awards. Performance Unit Awards shall be subject to the following terms and conditions and
shall contain such additional terms and conditions, not inconsistent with the terms of this Plan, as the Committee shall deem
advisable.

 

(a)
Number of Performance Units and Performance Measures. The number of Performance Units subject to a Performance Unit Award
and the Performance Measures and Performance Period applicable to a Performance Unit Award shall be determined by the Committee.

 

(b)
Vesting and Forfeiture. The Agreement relating to a Performance Unit Award shall provide, in the manner determined by the
Committee, in its discretion, and subject to the provisions of this Plan, for the vesting of such Performance Unit Award if the
specified Performance Measures are satisfied or met during the specified Performance Period and for the forfeiture of such award
if the specified Performance Measures are not satisfied or met during the specified Performance Period.

 

(c)
Settlement of Vested Performance Unit Awards. The Agreement relating to a Performance Unit Award shall specify whether
such award may be settled in Shares (including shares of Restricted Shares) or cash or a combination thereof. If a Performance
Unit Award is settled in Restricted Shares, such Restricted Shares shall be issued to the holder in book entry form or a certificate
or certificates representing such Restricted Shares shall be issued in accordance with Section 3.3(c) and the holder of such Restricted
Shares shall have such rights as a stockholder of the Company as determined pursuant to Section 3.3(d). Any dividends or dividend
equivalents with respect to a Performance Unit Award shall be subject to the same restrictions as such Performance Unit Award.
Prior to the settlement of a Performance Unit Award in Shares, including Restricted Shares, the holder of such award shall have
no rights as a stockholder of the Company.

 

    	 	6	 

     

    

 

4.3
Termination of Employment or Service. All of the terms relating to the satisfaction of Performance Measures and the
termination of the Performance Period relating to a Performance Unit Award, or any forfeiture and cancellation of such award (i)
upon a termination of employment or service with the Company of the holder of such award, whether by reason of disability, retirement,
death or any other reason, or (ii) during a paid or unpaid leave of absence, shall be determined by the Committee and set forth
in the applicable award Agreement.

   

	V.	CASH-BASED
    AWARDS 

 

5.1
Cash-Based Awards. The Committee may, in its discretion, grant Cash-Based Awards to such eligible persons as may be
selected by the Committee.

 

5.2
Terms of Cash-Based Awards. Cash-Based Awards shall be subject to the terms and conditions, not inconsistent with the
terms of this Plan, determined by the Committee and set forth in the applicable award Agreement.

  

	VI.	GENERAL
    

 

6.1
Effective Date and Term of Plan. This Plan will become effective upon its adoption by the Board, provided that it must
be approved by a majority of the outstanding securities entitled to vote within twelve (12) months before or after the date of
such adoption. Unless terminated earlier by the Board, this Plan shall terminate on the tenth anniversary of the date it is adopted
by the Board or approved by the Company’s stockholders, whichever is earlier. Termination of this Plan shall not affect
the terms or conditions of any award granted prior to termination. Awards hereunder may be made at any time prior to the termination
of this Plan, provided that no award may be made later than ten (10) years after the effective date of this Plan.

 

6.2
Amendments. The Board may amend this Plan as it shall deem advisable, subject to any requirement of stockholder approval
required by applicable law, rule or regulation, including any rule of the Nasdaq Global Market or any other stock exchange on
which Shares are then traded; provided, however, that no amendment may materially impair the rights of a holder
of an outstanding award without the consent of such holder.

 

6.3
Agreement. Each award under this Plan shall be evidenced by an Agreement setting forth the terms and conditions applicable
to such award. No award shall be valid until an Agreement is executed by the Company and, to the extent required by the Company,
either executed by the recipient or accepted by the recipient by electronic means approved by the Company within the time period
specified by the Company. Upon such execution or execution and electronic acceptance, and delivery of the Agreement to the Company,
such award shall be effective as of the effective date set forth in the Agreement.

  

6.4
Non-Transferability. No award shall be transferable other than by will, the laws of descent and distribution or pursuant
to beneficiary designation procedures approved by the Company or, to the extent expressly permitted in the Agreement relating
to such award, to the holder’s family members, a trust or entity established by the holder for estate planning purposes
or a charitable organization designated by the holder, in each case, without consideration. Except to the extent permitted by
the foregoing sentence or the Agreement relating to an award, each award may be exercised or settled during the holder’s
lifetime only by the holder or the holder’s legal representative or similar person. Except as permitted by the second preceding
sentence, no award may be sold, transferred, assigned, pledged, hypothecated, encumbered or otherwise disposed of (whether by
operation of law or otherwise) or be subject to execution, attachment or similar process. Upon any attempt to so sell, transfer,
assign, pledge, hypothecate, encumber or otherwise dispose of any award, such award and all rights thereunder shall immediately
become null and void.

 

6.5
Tax Withholding. The Company shall have the right to require, prior to the issuance or delivery of any Shares or the
payment of any cash pursuant to an award made hereunder, payment by the holder of such award of any federal, state, local or other
taxes which may be required to be withheld or paid in connection with such award. An Agreement may provide that (i) the Company
shall withhold whole Shares which would otherwise be delivered to a holder, having an aggregate Fair Market Value determined as
of the date the obligation to withhold or pay taxes arises in connection with an award (the “Tax Date”), or
withhold an amount of cash which would otherwise be payable to a holder, in the amount necessary to satisfy any such obligation
or (ii) the holder may satisfy any such obligation by any of the following means: (A) a cash payment to the Company, (B) delivery
(either actual delivery or by attestation procedures established by the Company) to the Company of previously owned whole Shares
having an aggregate Fair Market Value, determined as of the Tax Date, equal to the amount necessary to satisfy any such obligation,
(C) authorizing the Company to withhold whole Shares which would otherwise be delivered having an aggregate Fair Market Value,
determined as of the Tax Date, or withhold an amount of cash which would otherwise be payable to a holder, equal to the amount
necessary to satisfy any such obligation, (D) in the case of the exercise of an option and except as may be prohibited by applicable
law, a cash payment by a broker-dealer acceptable to the Company to whom the optionee has submitted an irrevocable notice of exercise
or (E) any combination of (A), (B) and (C), in each case to the extent set forth in the Agreement relating to the award. Shares
to be delivered or withheld may not have an aggregate Fair Market Value in excess of the amount determined by the Committee not
to have an adverse accounting impact on the Company. Any fraction of a Share which would be required to satisfy such an obligation
shall be disregarded and the remaining amount due shall be paid in cash by the holder.

  

    	 	7	 

     

    

 

6.6
Restrictions on Shares. Each award made hereunder shall be subject to the requirement that if at any time the Company
determines that the listing, registration or qualification of the Shares subject to such award upon any securities exchange or
under any law, or the consent or approval of any governmental body, or the taking of any other action is necessary or desirable
as a condition of, or in connection with, the delivery of shares thereunder, such shares shall not be delivered unless such listing,
registration, qualification, consent, approval or other action shall have been effected or obtained, free of any conditions not
acceptable to the Company. The Company may require that certificates evidencing Shares delivered pursuant to any award made hereunder
bear a legend indicating that the sale, transfer or other disposition thereof by the holder is prohibited except in compliance
with the Securities Act of 1933, as amended, and the rules and regulations thereunder.

 

6.7
Adjustment. In the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting
Standards Codification Topic 718, Compensation—Stock Compensation) that causes the per Share value of Shares to change,
such as a stock dividend, stock split, spinoff, rights offering or recapitalization through an extraordinary dividend, the number
and class of securities available under this Plan, the terms of each outstanding option and SAR (including the number and class
of securities subject to each outstanding option or SAR and the purchase price or base price per share), the terms of each outstanding
Restricted Stock Award and Restricted Stock Unit Award (including the number and class of securities subject thereto), and the
terms of each outstanding Performance Unit Award shall be appropriately adjusted by the Committee, such adjustments to be made
in the case of outstanding options and SARs without an increase in the aggregate purchase price or base price and in accordance
with Section 409A of the Code. In the event of any other change in corporate capitalization, including a merger, consolidation,
reorganization, or partial or complete liquidation of the Company, such equitable adjustments described in the foregoing sentence
may be made as determined to be appropriate and equitable by the Committee to prevent dilution or enlargement of rights of participants.
In either case, the decision of the Committee regarding any such adjustment shall be final, binding and conclusive.

  

6.8
Change in Control. 

 

(a)
Subject to the terms of the applicable award Agreement, in the event of a Change in Control, the Board (as constituted prior to
such Change in Control) may, in its discretion:

 

	 	(i)	provide
    that (A) some or all outstanding options and SARs shall become exercisable in full or in part, either immediately or upon
    a subsequent termination of employment or service, (B) the Restriction Period applicable to some or all outstanding Restricted
    Share Awards and Restricted Share Unit Awards shall lapse in full or in part, either immediately or upon a subsequent termination
    of employment or service, (C) the Performance Period applicable to some or all outstanding awards shall lapse in full or in
    part, and (D) the Performance Measures applicable to some or all outstanding awards shall be deemed to be satisfied at the
    target or any other level; 

 

	 	(ii)	provide
    that some or all outstanding awards shall terminate without consideration as of the date of such Change in Control; 

 

	 	(iii)	require
    that shares of the corporation or other entity resulting from such Change in Control, or a parent thereof, be substituted
    for some or all of the Shares subject to an outstanding award, with an appropriate and equitable adjustment to such award
    as shall be determined by the Board in accordance with Section 6.7; and/or 

 

	 	(iv)	require
    outstanding awards, in whole or in part, to be surrendered to the Company by the holder, and to be immediately cancelled by
    the Company, and to provide for the holder to receive (A) a cash payment in an amount equal to (i) in the case of an option
    or an SAR, the number of Shares then subject to the portion of such option or SAR surrendered multiplied by the excess, if
    any, of the Fair Market Value of a Share as of the date of the Change in Control, over the purchase price or base price per
    Share subject to such option or SAR, (ii) in the case of a Share Award, the number of Shares then subject to the portion of
    such award surrendered multiplied by the Fair Market Value of a Share as of the date of the Change in Control, and (iii) in
    the case of a Performance Unit Award, the value of the Performance Units then subject to the portion of such award surrendered;
    (B) shares of the corporation or other entity resulting from such Change in Control, or a parent thereof, having a fair market
    value not less than the amount determined under clause (A) above; or (C) a combination of the payment of cash pursuant to
    clause (A) above and the issuance of shares pursuant to clause (B) above. 

 

(b)
A “Change in Control” of the Company shall be deemed to have occurred upon the occurrence of any of the following
events:

 

(i)
The acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2)
of the Exchange Act) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 50% or more
of either the then outstanding Shares of the Company or the combined voting power of the then outstanding voting securities of
the Company entitled to vote generally in the election of directors, but excluding, for this purpose, any such acquisition by
the Company or any of its Subsidiaries, or any employee benefit plan (or related trust) of the Company or its Subsidiaries, or
any corporation with respect to which, following such acquisition, more than 50% of, respectively, the then outstanding Shares
of such corporation and the combined voting power of the then outstanding voting securities of such corporation entitled to vote
generally in the election of all or substantially all directors is then beneficially owned, directly or indirectly, by the individuals
and entities who were the beneficial owners, respectively, of Shares and voting securities of the Company immediately prior to
such acquisition in substantially the same proportion as their ownership, immediately prior to such acquisition, of the then outstanding
Shares of the Company or the combined voting power of the then outstanding voting securities of the Company entitled to vote generally
in the election of directors, as the case may be;

  

    	 	8	 

     

    

 

(ii)
The consummation of a reorganization, merger or consolidation of the Company, in each case, with respect to which all or substantially
all of the individuals and entities who were the respective beneficial owners of Shares and voting securities of the Company immediately
prior to such reorganization, merger or consolidation do not, following such reorganization, merger or consolidation, beneficially
own, directly or indirectly, more than 50% of, respectively, the then outstanding Shares and the combined voting power of the
then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation
resulting from such reorganization, merger or consolidation;

 

(iii)
During any twenty-four (24) month period, individuals who, as of the beginning of such period, constitute the Board (the “Incumbent
Directors”) cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director
subsequent to the beginning of such period whose election or nomination for election was approved by a vote of at least a majority
of the Incumbent Directors then on the Board (either by a specific vote or by approval of the proxy statement of the Company in
which such person is named as a nominee for director, without written objection to such nomination) shall be an Incumbent Director;
provided, however, that no individual initially elected or nominated as a director of the Company as a result of an actual or
threatened election contest with respect to directors or as a result of any other actual or threatened solicitation of proxies
by or on behalf of any person other than the Board shall be deemed to be an Incumbent Director; or

 

(iv)
a complete liquidation or dissolution of the Company or of the sale or other disposition of all or substantially all of the assets
of the Company.

 

In
no event shall a Change in Control include the Initial Public Offering or any bona fide primary or secondary public offering following
the occurrence of the Initial Public Offering.

 

6.9
Deferrals. The Committee may determine that the delivery of Shares or the payment of cash, or a combination thereof,
upon the exercise or settlement of all or a portion of any award (other than awards of Incentive Stock Options, Nonqualified Options
and SARs) made hereunder shall be deferred, or the Committee may, in its sole discretion, approve deferral elections made by holders
of awards. Deferrals shall be for such periods and upon such terms as the Committee may determine in its sole discretion, subject
to the requirements of Section 409A of the Code.

   

6.10
No Right of Participation, Employment or Service. Unless otherwise set forth in an employment agreement, no person
shall have any right to participate in this Plan. Neither this Plan nor any award made hereunder shall confer upon any person
any right to continued employment by or service with the Company, any Subsidiary or any affiliate of the Company or affect in
any manner the right of the Company, any Subsidiary or any affiliate of the Company to terminate the employment or service of
any person at any time without liability hereunder.

  

6.11
Rights as Stockholder. No person shall have any right as a stockholder of the Company with respect to any Shares or
other equity security of the Company which is subject to an award hereunder unless and until such person becomes a stockholder
of record with respect to such Shares or equity security.

 

6.12
Designation of Beneficiary. A holder of an award may file with the Committee a written designation of one or more persons
as such holder’s beneficiary or beneficiaries (both primary and contingent) in the event of the holder’s death or
incapacity. To the extent an outstanding option or SAR granted hereunder is exercisable, such beneficiary or beneficiaries shall
be entitled to exercise such option or SAR pursuant to procedures prescribed by the Committee.

 

Each
beneficiary designation shall become effective only when filed in writing with the Committee during the holder’s lifetime
on a form prescribed by the Committee. The spouse of a married holder domiciled in a community property jurisdiction shall join
in any designation of a beneficiary other than such spouse. The filing with the Committee of a new beneficiary designation shall
cancel all previously filed beneficiary designations.

 

If
a holder fails to designate a beneficiary, or if all designated beneficiaries of a holder predecease the holder, then each outstanding
option and SAR hereunder held by such holder, to the extent exercisable, may be exercised by such holder’s executor, administrator,
legal representative or similar person.

 

6.13
Compliance With Section 409A of the Code. To the extent applicable, awards will be designed and operated in such a
manner that they are either exempt from the application of, or comply with, the requirements of Section 409A of the Code. The
Plan and each award Agreement are intended to meet the requirements of Section 409A of the Code and will be construed and interpreted
in accordance with such intent, except as otherwise determined in the Committee’s sole discretion. Notwithstanding the foregoing,
the Company makes no representation with respect to the tax compliance of the Plan or any Award Agreement, including compliance
with Section 409A of the Code.

 

6.14
Governing Law. This Plan, each award hereunder and the related Agreement, and all determinations made and actions taken
pursuant thereto, to the extent not otherwise governed by the Code or the laws of the United States, shall be governed by the
laws of the State of Illinois and construed in accordance therewith without giving effect to principles of conflicts of laws.

 

6.15
Non-U.S. Service Providers. Without amending this Plan, the Committee may grant awards to eligible persons who are
foreign nationals on such terms and conditions different from those specified in this Plan as may in the judgment of the Committee
be necessary or desirable to foster and promote achievement of the purposes of this Plan and, in furtherance of such purposes
the Committee may make such modifications, amendments, procedures, subplans and the like as may be necessary or advisable to comply
with provisions of laws in other countries or jurisdictions in which the Company or its Subsidiaries operates or has employees
or service providers.

 

6.16
Awards Subject to Clawback. The awards granted under this Plan and any cash payment or Shares delivered pursuant to
an award are subject to forfeiture, recovery by the Company or other action pursuant to the applicable Agreement or any clawback
or recoupment policy which the Company may adopt from time to time, including without limitation any such policy which the Company
may be required to adopt under the Dodd-Frank Wall Street Reform and Consumer Protection Act and implementing rules and regulations
thereunder, or as otherwise required by law.

  

    	 	9	 

     

    

 

AMESITE
INC. 

 

2018
EQUITY INCENTIVE PLAN 

 

STOCK
OPTION AGREEMENT 

 

This
Stock Option Agreement (this “Agreement”) is made and entered into as of the date set forth on the signature
page hereto by and between Amesite Inc., a Delaware corporation (the “Company”), and the undersigned
participant (“Participant”). Unless otherwise defined herein, capitalized terms used herein shall have
the same defined meanings as set forth in the Amesite Inc. 2018 Equity Incentive Plan attached hereto as Exhibit A (the
“Plan”).

  

	I.	NOTICE
    OF STOCK OPTION GRANT 

 

Participant
has been granted an option to purchase Common Stock, subject to the terms and conditions of the Plan and this Agreement, as follows:

  

	Participant:	 	 
	Address:	 	 
	 	 	 
	Grant Number:	 	 
	Grant Date:	 	 
	Vesting Commencement Date:	 	 
	Exercise Price per Share:	 	 
	Number of Shares Subject to Option: 	 	 
	Total Exercise Price:	 	 
	Type of Option:	ISO 	NSO	Term/Expiration
	Date:	 	, or earlier as provided
	 	in the Plan or this Agreement	 

 

Vesting
Schedule; Accelerated Vesting:

 

This
Option shall become vested and exercisable, in whole or in part, according to the following vesting schedule:   

 

Termination
Period: 

 

This
Option shall be exercisable for three months after Participant ceases to be a service provider, unless such termination is due
to Participant’s death or disability, in which case this Option shall be exercisable for 12 months after Participant ceases
to be a service provider. Notwithstanding the foregoing sentence, in no event may this Option be exercised after the Term/Expiration
Date as provided above, and this Option may be subject to earlier termination as provided in the Plan.

  

	II.	AGREEMENT
    

 

1.
Grant of Option. In consideration of the services to be rendered by Participant to the Company or any Affiliate
and subject to the terms and conditions of the Plan and this Agreement, the Administrator hereby grants to Participant an option
(this “Option”) to purchase the number of Shares set forth in the Notice of Stock Option Grant in Part
I of this Agreement, at the Exercise Price per Share set forth in the Notice of Stock Option Grant in Part I of this Agreement
(the “Exercise Price”).

 

If
designated as an ISO in the Notice of Stock Option Grant in Part I of this Agreement, this Option is intended to qualify as an
Incentive Stock Option; provided, however, that, to the extent that the aggregate Fair Market Value (determined
at the time of grant) of the Shares with respect to which Incentive Stock Options are exercisable for the first time by Participant
during any calendar year (under all plans of the Company and any Affiliate) exceeds $100,000, such Options or portions thereof
that exceed such limit (according to the order in which they were granted) shall be treated as Nonstatutory Stock Options. Further,
if for any reason this Option (or portion thereof) shall not qualify as an Incentive Stock Option, then, to the extent of such
nonqualification, this Option (or portion thereof) shall be regarded as a Nonstatutory Stock Option. In no event shall the Administrator,
the Company or any Affiliate, or any of their respective employees or directors, have any liability to Participant (or any other
Person) due to the failure of this Option (or portion thereof) to qualify for any reason as an Incentive Stock Option.

 

2.
Exercise of Option.

 

(a)
Right to Exercise. This Option shall be exercisable during its term in accordance with (i) the Vesting Schedule
set out in the Notice of Stock Option Grant in Part I of this Agreement and (ii) the applicable provisions of the Plan and this
Agreement. This Option may not be exercised for a fraction of a Share.

 

(b)
Method of Exercise. This Option shall be exercisable by delivery of an option exercise notice in the form attached
hereto as Exhibit B (the “Option Exercise Notice”) or in a manner and pursuant to such
procedures as the Administrator may determine, which shall state the election to exercise this Option, the whole number of Shares
with respect to which this Option is being exercised, and such other representations and agreements as may be required by the
Company. If someone other than Participant exercises this Option, as permitted by the Plan, then such Person must submit documentation
reasonably acceptable to the Company verifying that such Person has the legal right to exercise this Option. The Option Exercise
Notice shall be accompanied by payment of the aggregate Exercise Price as to all exercised Shares, together with any applicable
tax withholding. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Option Exercise
Notice accompanied by the aggregate Exercise Price, together with any applicable tax withholding.

  

    	 	10	 

     

    

 

3.
Participant’s Representations. If the Common Stock has not been registered under the Securities Act at the
time this Option is exercised, Participant shall concurrently with the exercise of all or any portion of this Option, if required
by the Company, deliver to the Company Participant’s Investment Representation Statement in the form attached hereto as
Exhibit C.

   

4.
Lock-Up Period. Participant will not, during the period commencing on the date of the final prospectus relating
to the registration by the Company for its own behalf of shares of its Common Stock or any other equity securities under the Securities
Act on a Form S-1 (excluding a registration relating solely to employee benefit plans on Form S-1) or Form S-3 and ending on the
date specified by the Company and the underwriter(s) (such period not to exceed 180 days in the case of the Company’s IPO
or 90 days in the case of any registration other than the Company’s IPO, or such other period as may be requested by the
Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports
and (ii) analyst recommendations and opinions, including the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4)
(or any successor provisions or amendments thereto), as applicable), (A) sell, dispose of, make any short sale of, offer, hypothecate,
pledge, contract to sell, grant any option or contract to purchase, purchase any option or contract to sell, grant any right or
warrant to purchase, lend or otherwise transfer or encumber, directly or indirectly, any Shares or other securities convertible
into or exercisable or exchangeable (directly or indirectly) for shares of Common Stock (whether such Shares or other securities
are then held by Participant or thereafter acquired) (such Shares and other securities, the “Lock-Up Shares”)
or (B) enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of any Lock-Up Shares. The foregoing provisions of this Section II.4 shall not prevent the exercise of any repurchase
option in favor of the Company or apply to the sale of any Lock-Up Shares to an underwriter pursuant to an underwriting agreement
or to the Transfer (as defined in Section II.7) of any Lock-Up Shares by Participant to any trust for the direct or indirect benefit
of Participant or an Immediate Family Member (as defined in the Option Exercise Notice) of Participant (provided that the
trustee of the trust agrees, in writing, to be bound by the restrictions set forth herein and provided further that any
such Transfer (as defined in Section II.7) does not involve a disposition for value). Participant shall execute such documents
as may be reasonably requested by the Company or the underwriters in connection with any registered offering described in this
Section II.4 and that are consistent with this Section II.4 or necessary to give further effect thereto.

 

5.
Method of Payment. To the extent permitted by Applicable Laws, payment of the aggregate Exercise Price as to all
exercised Shares shall be by any of the following methods, or a combination thereof, at Participant’s election:

 

(a)
cash;

 

(b)
check;

 

(c)
surrender of other Shares which (i) shall be valued at their Fair Market Value on the date of exercise and (ii) must be owned
by Participant free and clear of any liens, claims, encumbrances or security interests, if accepting such Shares, in the Administrator’s
sole discretion, will not result in any adverse accounting consequences to the Company; or

 

(d)
consideration received by the Company under a cashless exercise program (whether through a broker or otherwise) implemented by
the Company in connection with the Plan.

 

Any
fraction of a Share which would be required to pay such aggregate Exercise Price shall be disregarded, and the remaining amount
due shall be paid in cash by Participant.

  

6.
Restrictions on Exercise. This Option may not be exercised unless the issuance of Shares upon such exercise, or
the method of payment of consideration for such Shares, complies with Applicable Laws. Assuming such compliance, Shares shall
be considered transferred to Participant, for income tax purposes, on the date on which this Option is exercised with respect
to such Shares.

 

7.
Non-Transferability of Option. This Option (or, prior to exercise, the Shares subject to this Option) may not be
sold, pledged, assigned, hypothecated or otherwise transferred in any manner, including by entering into any short position, any
“put equivalent position” or any “call equivalent position” (as defined in
Rule 16a-1(h) and Rule 16a-1(b), respectively, of the Exchange Act), whether by operation of law or otherwise (“Transfer”),
other than by will or by the laws of descent and distribution, and may be exercised, during the lifetime of Participant, only
by Participant. The terms of the Plan and this Agreement shall be binding upon the executors, administrators, heirs, successors
and assigns of Participant.

 

8.
Term of Option. This Option may be exercised only (i) within the term set out in the Notice of Stock Option Grant
in Part I of this Agreement and (ii) in accordance with the terms and conditions of the Plan and this Agreement.

 

9.
Tax Obligations.

 

(a)
Tax Withholding. Participant agrees to make appropriate arrangements satisfactory to the Company to pay or provide
for the satisfaction of all federal, state, local, foreign and other taxes (including Participant’s FICA obligation) required
to be withheld with respect to the exercise of this Option. Participant acknowledges and agrees that the Company may refuse to
honor the exercise of this Option, and refuse to deliver the Shares, if such withholding amounts are not delivered by Participant
at the time of exercise.

 

(b)
Notice of Disqualifying Disposition of ISO Shares. If this Option is an Incentive Stock Option, and if Participant
makes a “disposition” (as defined in Section 424 of the Code) of all or any portion of the Shares acquired upon exercise
of this Option within two years from the Grant Date set out in the Notice of Stock Option Grant in Part I of this Agreement or
within one year after issuance of the Shares acquired upon exercise of this Option, then Participant shall immediately notify
the Company in writing as to the occurrence of, and the price realized upon, such disposition. Participant agrees that Participant
may be subject to income tax withholding by the Company on the compensation income recognized by Participant.

  

    	 	11	 

     

    

 

(c)
Section 409A of the Code. Under Section 409A of the Code, an Option that was granted with a per Share exercise price
that is determined by the U.S. Internal Revenue Service (the “IRS”) to be less than the Fair Market
Value of a Share on the date of grant (a “discount option”) may be considered “deferred
compensation.” An Option that is a “discount option” may result in (i) income recognition
by Participant prior to the exercise of this Option, (ii) an additional 20% federal income tax, (iii) potential penalty and interest
charges, and (iv) additional state income, penalty and interest tax to Participant (collectively, “409A Penalties”).
Participant acknowledges that the Company cannot guarantee, and has not guaranteed, that the IRS will agree, in a later examination,
that the per Share exercise price of this Option equals or exceeds the Fair Market Value of a Share on the date of grant. Participant
agrees that, if the IRS determines that this Option is a “discount option,” Participant shall be solely
responsible for Participant’s costs related to such a determination, including any 409A Penalties.

  

10.
General Provisions.

 

(a)
Power and Authority. Participant hereby represents to the Company that

 

(i)
Participant has full power and authority and legal capacity to enter into, execute and deliver this Agreement and to perform fully
Participant’s obligations hereunder, (ii) the execution, delivery and performance of this Agreement by Participant does
not conflict with, constitute a breach of or violate any arrangement, understanding or agreement to which Participant is a party
or by which Participant is bound, and (iii) this Agreement has been duly and validly executed and delivered by Participant and
constitutes the legal, valid and binding obligation of Participant, enforceable against Participant in accordance with its terms.

 

(b)
Survival. The representations, warranties, covenants and agreements made in or pursuant to this Agreement shall
survive the execution and delivery hereof and shall not be affected by any investigation made by or on behalf of any party hereto.

 

(c)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois
without regard to conflict-of-law principles.

 

(d)
Entire Agreement. This Agreement, together with the attached Exhibits, sets forth the entire agreement and understanding
between the parties hereto relating to the subject matter hereof and supersedes all prior and contemporaneous understandings,
agreements, discussions, representations and warranties, both written and oral, between the parties hereto, including any representations
made during any interviews or relocation negotiations, with respect to such subject matter. In the event of a conflict between
the terms and conditions of the Plan and this Agreement, the terms and conditions of the Plan shall prevail.

 

(e)
Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be deemed
given or delivered (i) when delivered personally, (ii) one business day after being deposited with an overnight courier service
(costs prepaid), (iii) when sent by facsimile or e-mail if sent during normal business hours and on the next business day if sent
after normal business hours, in each case with confirmation of transmission by the transmitting equipment, or (iv) when received
or rejected by the addressee, if sent by certified mail, return receipt requested, postage prepaid, in each case to the addresses,
facsimile numbers or e-mail addresses and marked to the attention of the persons designated (by name or title) on the signature
page hereto, as applicable, or to such other address, facsimile number, e-mail address or person as such party may designate by
a notice delivered to the other party hereto.

 

(f)
Successors and Assigns; Transfers. The Company may assign this Agreement, and its rights and obligations
hereunder, in whole or in part, to any successor or assign (whether direct or indirect, by purchase, merger, consolidation, sale
of assets or stock or otherwise). Except as set forth herein, (x) neither this Agreement nor any rights, duties and obligations
hereunder shall be assigned, transferred, delegated or sublicensed by Participant without the Company’s prior written consent
and (y) any attempt by Participant to assign, transfer, delegate or sublicense this Agreement or any rights, duties or obligations
hereunder, without the Company’s prior written consent, shall be void. Subject to any restrictions on transfer set forth
herein, this Agreement shall be binding upon, and enforceable against, (i) the Company and its successors and assigns and (ii)
Participant and his or her heirs, executors, successors, assigns, administrators and other legal representatives. Except as set
forth herein, any transfer in violation of any restriction upon transfer contained in any provision hereof shall be void, unless
such restriction is waived in accordance with the terms hereof.

 

(g)
Modification and Waiver. This Agreement may not be amended, modified or supplemented except by a written instrument
signed by an authorized representative of each party hereto. Any term or provision hereof may be waived, or the time for its performance
may be extended, by the party or parties entitled to the benefit thereof. Any such waiver or extension shall be validly and sufficiently
authorized for the purposes hereof if, as to any party, it is authorized in writing by an authorized representative of such party.
The failure or delay of any party to enforce at any time any provision hereof shall not be construed to be a waiver of such provision,
nor in any way to affect the validity of this Agreement or any part hereof or the right of any party thereafter to enforce each
and every such provision. No waiver of any breach hereof shall be held to constitute a waiver of any other or subsequent breach.

 

(h)
Further Assurances. Participant shall execute and deliver such additional documents, instruments, conveyances and
assurances and take such further actions as may reasonably be necessary or desirable in the view of the Company to carry out the
purposes or intent hereof, including the applicable Exhibits attached hereto.

 

(i)
Severability. Should any provision contained herein be held as invalid, illegal or unenforceable, such holding
shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties
with any such modification to become a part hereof and treated as though originally set forth herein.

  

    	 	12	 

     

    

 

(j)
Interpretation. For purposes of this Agreement, (i) the words “include,” “includes” and
“including” shall be deemed to be followed by the words “without limitation,” (ii) the word “or”
is not exclusive, (iii) the words “herein,” “hereof,” “hereby,” “hereto,” “hereunder”
and words of similar import refer to this Agreement as a whole, and (iv) with respect to the determination of any period of time,
“from” means “from and including” and “to” means “to but excluding.” Unless the
context otherwise requires, references herein: (A) to a Section or an Exhibit mean a Section or an Exhibit of, or attached to,
this Agreement; (B) to agreements, instruments and other documents shall be deemed to include all subsequent amendments, supplements
and other modifications thereto; (C) to statutes or regulations are to be construed as including all statutory and regulatory
provisions consolidating, amending or replacing the statute or regulation referred to; (D) to any Person includes such Person’s
successors and assigns, but, if applicable, only if such successors and assigns are not prohibited by this Agreement; and (E)
to any gender includes each other gender. The Exhibits attached hereto shall be construed with, and as an integral part of, this
Agreement to the same extent as if they were set forth verbatim herein. The titles, captions and headings herein are for convenience
of reference only and shall not affect the meaning or interpretation hereof. This Agreement shall be construed without regard
to any presumption or rule requiring construction or interpretation against the party drafting an instrument or causing any instrument
to be drafted.

   

(k)
Counterparts. This Agreement may be executed in counterparts, each of which shall be considered an original, but
all of which, when taken together, shall be considered one and the same agreement, and shall become binding when one or more counterparts
have been signed by each party hereto and delivered to the other party hereto. Delivery of an executed counterpart of a signature
page to this Agreement shall be as effective as delivery of a manually executed counterpart of this Agreement. The exchange of
copies of this Agreement and of signature pages hereto by facsimile transmission or e-mail shall constitute effective execution
and delivery of this Agreement and may be used in lieu of the original Agreement for all purposes. Signatures transmitted by facsimile
or e-mail shall be deemed to be original signatures for all purposes.

 

(l)
Service Relationship At Will. Participant acknowledges and agrees that the vesting of this Option pursuant
hereto is earned only by his or her continuing service as a service provider at will (and not through the act of being hired,
being granted this Option or acquiring Shares hereunder). Participant further acknowledges and agrees that this Agreement, the
transactions contemplated hereby and the vesting schedule set forth herein do not constitute an express or implied promise of
continued engagement as a service provider for the vesting period, or for any period at all, and shall not interfere with the
right of either the Company or Participant to terminate Participant’s relationship as a service provider at any time, with
or without cause or notice.

 

(m)
Third Party Beneficiary Rights. No provisions hereof are intended, nor shall be interpreted, to provide or create
any third party beneficiary rights or any other rights of any kind in any client, customer, affiliate, stockholder, partner or
employee of any party hereto or any other Person, unless specifically provided otherwise herein; provided, however,
that Section II.4 is intended to benefit the underwriters for any registered offering described in Section II.4, and such underwriters
shall have the right, power and authority to enforce the provisions of Section II.4 as though they were parties hereto.

 

(n)
Adjustments. In the event of any dividend or other distribution (whether in the form of cash, Shares, other
securities or other property), recapitalization, reincorporation, stock split, reverse stock split, reorganization, merger, consolidation,
split-up, spin-off, combination, reclassification, repurchase or exchange of Shares or other securities of the Company, or other
change in the corporate structure of the Company affecting the Shares, the Administrator will appropriately adjust the number,
class and price of Shares subject to this Option, with such adjustment to be made in accordance with Section 409A of the Code.

 

(o)
No Impact on Other Benefits. The value of this Option is not part of Participant’s normal or expected
compensation for purposes of calculating any severance, retirement, welfare, insurance or similar employee benefit.

 

(p)
Acceptance. Participant acknowledges receipt of a copy of the Plan and represents that he or she is familiar
with the terms and provisions thereof and hereby accepts this Option subject to all of the terms and provisions of the Plan and
this Agreement (including all Exhibits attached hereto). Participant has reviewed, and fully understands all provisions of, the
Plan and this Agreement in their entirety (including all Exhibits attached hereto) and has had an opportunity to obtain the advice
of his or her own legal counsel, tax advisors and other advisors prior to executing this Agreement. Any questions or disputes
regarding the interpretation of the Plan or this Agreement (including all Exhibits attached hereto), or arising hereunder or thereunder,
shall be submitted by the Company or Participant to the Administrator, and Participant hereby agrees to accept as final, binding
and conclusive all decisions, determinations and interpretations of the Administrator upon any such questions or disputes.

 

(q)
Equitable Relief. In the event of a breach or threatened breach by Participant of any provision hereof, Participant
hereby consents and agrees that the Company may seek, in addition to other available remedies, injunctive or other equitable relief
from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not
afford an adequate remedy, and without the necessity of posting any bond or other security. Participant understands that any breach
or threatened breach of this Agreement will cause irreparable injury and that money damages will not provide an adequate remedy
therefor, and Participant hereby consents to the issuance of an injunction or other equitable relief. The aforementioned equitable
relief shall be in addition to, and not in lieu of, legal remedies, monetary damages or other available forms of relief.

 

(signature
page follows) 

  

    	 	13	 

     

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Stock Option Agreement as of ________, 20__ .

 

COMPANY

 

Amesite
Inc.

 

By:
                                                                           

Name:
Ann Marie Sastry

Title:
Chief Executive Officer

 

Notice
Address: 205 East Washington Street, Suite B

Ann
Arbor, Michigan 48104

 

Facsimile:

E-mail:
ams@amesite.com

Attention:
Ann Marie Sastry

 

PARTICIPANT

  

Notice
Address:

 

 

Facsimile:

E-mail:

Attention:

 

Exhibits:

 

A
– 2018 Equity Incentive Plan

B
– Option Exercise Notice

  

[Signature
Page to Stock Option Agreement] 

  

    	 	14	 

     

    

 

EXHIBIT
A 

 

AMESITE
INC. 

 

2018
EQUITY INCENTIVE PLAN 

  

    	 	15	 

     

    

 

EXHIBIT
B 

 

OPTION
EXERCISE NOTICE 

 

Amesite
Inc.

205
East Washington Street, Suite B

Ann
Arbor, Michigan 48104

Attention:
Secretary

 

1.
Exercise of Option. Effective as of today,  , the undersigned (“Participant”)
hereby elects to exercise Participant’s option (the “Option”) to purchase   shares
(the “Exercised Shares”) of the common stock of Amesite Inc., a Delaware corporation (the “Company”),
under and pursuant to the Company’s 2018 Equity Incentive Plan (the “Plan”) and that certain Stock
Option Agreement made and entered into as of ________, 20__ by and between the Company and Participant (the “Option
Agreement”).

 

2.
Delivery of Payment. Participant herewith delivers to the Company the full exercise price of the Exercised Shares,
as set forth in the Option Agreement, and any and all withholding taxes due in connection with the exercise of the Option.

 

3.
Representations of Participant. Participant acknowledges that Participant has received, read and understood the
Plan and the Option Agreement and agrees to abide, and be bound, by their terms and conditions.

 

4.
Rights as Stockholder. Until the issuance of the Exercised Shares (as evidenced by the appropriate entry on the
books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or other distributions
or any other rights as a stockholder shall exist with respect to the Exercised Shares, notwithstanding the exercise of the Option.
The Exercised Shares shall be issued to Participant as soon as practicable after the Option is exercised in accordance with the
Option Agreement. No adjustment shall be made for a dividend or distribution or other right for which the record date is prior
to the date of issuance, except as provided in Section 13 of the Plan.

 

5.
Tax Consultation. Participant understands that Participant may suffer adverse tax consequences as a result of Participant’s
purchase or disposition of the Exercised Shares. Participant represents that Participant has consulted with any tax consultants
Participant deems advisable in connection with the purchase or disposition of the Exercised Shares and that Participant is not
relying on the Company for any tax advice.

 

6.
Restrictive Legends and Stop-Transfer Orders.

 

(a)
Legends. Participant understands and agrees that the Company shall cause the legends set forth below, or substantially
equivalent legends, to be placed upon any certificate(s) evidencing ownership of the Exercised Shares, together with any other
legends that may be required by the Company or by applicable federal or state securities laws:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE
SALE OR DISTRIBUTION THEREOF AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED
UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.
THE ISSUER OF THESE SECURITIES MAY REQUIRE AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH OFFER, SALE, TRANSFER, PLEDGE
OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER, A RIGHT OF FIRST REFUSAL AND A LOCK-UP
PERIOD IN THE EVENT OF A PUBLIC OFFERING AS SET FORTH IN AGREEMENTS BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SECURITIES,
COPIES OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH RESTRICTIONS ON TRANSFER, RIGHT OF FIRST REFUSAL AND
LOCK-UP PERIOD ARE BINDING ON TRANSFEREES OF THESE SECURITIES.

 

(b)
Stop-Transfer Notices. In order to ensure compliance with the restrictions referred to herein and in the Option
Agreement, including the provisions of Section II.4 of the Option Agreement, the Company may issue appropriate stop-transfer instructions
to its transfer agent, if any, and, if the Company transfers its own securities, it may make appropriate notations to the same
effect in its own records.

 

(c)
Refusal to Transfer. The Company shall not be required to transfer on its books any Exercised Shares that have been
Transferred in violation of any provision hereof or to treat as owner of such Exercised Shares, or otherwise to accord voting
or dividend rights to, any purchaser or other transferee to whom such Exercised Shares shall have been so Transferred. Any attempt
to Transfer Exercised Shares in violation hereof shall be null and void and shall be disregarded by the Company.

  

    	 	16	 

     

    

 

7.
Consent to Notices by Electronic Transmission. Upon becoming a stockholder of the Company and without limiting the
manner by which notice otherwise may be given effectively to Participant, Participant hereby consents in accordance with Section
232 of the Delaware General Corporation Law to stockholder notices given by the Company to Participant by any of the following
forms of electronic transmission: (i) by facsimile telecommunications to the facsimile number set forth on the signature page
to the Option Agreement or to such other facsimile number as Participant may designate by a written notice delivered to the Company;
(ii) by electronic mail to the e-mail address set forth on the signature page to the Option Agreement or to such other e-mail
address as Participant may designate by a written notice delivered to the Company; (iii) by a posting on an electronic network
together with separate notice to Participant of such specific posting; and (iv) by any other form of electronic transmission when
directed to Participant.

   

8.
Capitalized Terms. Unless otherwise defined herein, capitalized terms used herein shall have the same defined meanings
as set forth in the Plan or, if not defined therein, in the Option Agreement.

 

9.
Governing Law; Severability. This Option Exercise Notice shall be governed by and construed in accordance with the
laws of the State of Illinois without regard to conflict-of-law principles. Should any provision contained herein be held as invalid,
illegal or unenforceable, such holding shall not affect the validity of the remainder of this Option Exercise Notice, the balance
of which shall continue to be binding upon the parties with any such modification to become a part hereof and treated as though
originally set forth herein.

  

	Submitted by:	 	Accepted by:
	 	 	 
	PARTICIPANT	 	COMPANY
	 	 	 
	 	 	 
	Signature	 	By:	 
	 	 	Name: 	Ann Marie Sastry
	 	 	Title: 	Chief Executive Officer
	 	 	 
	 	 	Date Received:

 

17Exhibit 10.3

 

SUBSCRIPTION AGREEMENT

 

This Subscription Agreement (this “Agreement”)
has been executed by the purchaser set forth on the signature page hereof (the “Purchaser”) in connection
with the private placement offering (the “Offering”) by Lola One Acquisition Corporation (to be renamed
“Amesite Inc.” upon consummation of the Merger (as defined below)), a Delaware corporation (the “Company”).

 

R E C I T A L S

 

A. The
Company is offering a minimum of 2,000,000 shares of the Company’s common stock, par value $0.0001 per share (“Common
Stock”), at a purchase price of $1.50 per share (the “Purchase Price”), for an aggregate
purchase price of approximately $3,000,000 (the “Minimum Offering Amount”), and a maximum of 4,666,667
shares of Common Stock at the Purchase Price for an aggregate Purchase Price of approximately $7,000,000 (the “Maximum
Offering Amount”). The Company may also sell an additional 2,000,000 shares of Common Stock at the Purchase Price
for an aggregate Purchase Price of approximately $3,000,000 to cover over-subscriptions (the “Over-Subscription Option”),
in the event the Offering is oversubscribed.

 

B. The
Initial Closing (as defined below) of no less than the Minimum Offering Amount and the Insider Investment (as defined below) is
contingent upon the closing of a merger in accordance with the terms of that certain Agreement and Plan of Merger and Reorganization,
dated on or prior to the date hereof (the “Merger Agreement”), among the Company, Lola One Acquisition
Sub, Inc., a Delaware corporation (“Merger-Sub”) and wholly owned subsidiary of the Company, and Amesite
Inc., a Delaware corporation (“Amesite”), pursuant to which Merger-Sub will merge with and into Amesite,
with Amesite surviving the merger as a wholly owned subsidiary of the Company (the “Merger”) and pursuant
to which all of the outstanding shares of Amesite’s capital stock will be exchanged for 5,833,333 shares of the Company’s
Common Stock (the “Merger Shares”). Upon the consummation of the Merger, Amesite shall change its name
to “Amesite Operating Company” and the Company will change its name to “Amesite Inc.”

 

C. The
Shares (as defined below) subscribed for pursuant to this Agreement have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”). The Offering is being made on a reasonable best efforts basis to “accredited
investors,” as defined in Regulation D under the Securities Act in reliance upon the exemption from securities registration
afforded by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.

 

AGREEMENT

 

The Company and the Purchaser
hereby agree as follows:

 

1. Subscription.

 

1.1 Purchase
and Sale of the Shares.

 

(a) Subject
to the terms and conditions of this Agreement, the undersigned Purchaser agrees to purchase, and the Company agrees to sell and
issue to such Purchaser, that number of shares set forth on such Purchaser’s Omnibus Signature Page attached hereto at the
Purchase Price, for a total aggregate Purchase Price as set forth on such Omnibus Signature Page. The minimum subscription amount
for each Purchaser in the Offering is $49,999.50 (or 33,333 shares). The Company may accept subscriptions for less than $49,999.50
from any Purchaser in its sole discretion. Prior to the date hereof, Amesite investors have agreed to purchase approximately 895,834
shares of Common Stock at a purchase price of $1.20 per share (the “Insider Investment”). For the purposes
of this Agreement, “Shares” means the shares of Common Stock issued in the Offering at the Initial Closing
(as defined below) or at any Subsequent Closing (as defined below).

 

     

     

    

 

(b) This
Agreement is one of a series of subscription agreements issued (and to be issued) by the Company to purchasers of Shares in connection
with the Offering with the same terms and conditions set forth in this Agreement (each, a “Subscription Agreement”,
and collectively, the “Subscription Agreements”).

 

1.2 Subscription
Procedure; Closing.

 

(a) Initial
Closing. Subject to the terms and conditions of this Agreement, the initial closing of the Shares shall take place remotely
via the exchange of documents and signatures following the closing of the Merger and receipt of subscriptions equal to or exceeding
the Minimum Offering Amount or at such other time and place as mutually agreed to by the Company and the Placement Agents (as defined
in Section 2) (the “Initial Closing”).

 

(b) Subsequent
Closings. If the Maximum Offering Amount is not sold at the Initial Closing, at any time prior to April 30, 2018 or at such
later time as the Company and the Placement Agents may mutually agree without notice to or consent from Purchasers (each a “Subsequent
Closing” and collectively the “Subsequent Closings”), the Company may sell additional Shares
up to the Maximum Offering Amount, and if there are over-subscriptions, such additional Shares as may be sold in connection with
the Over-Subscription Option (the “Subsequent Closing Shares”) to such persons as may be approved by
the Company and who are reasonably acceptable to the Placement Agents (the “Additional Purchasers”).
All such sales made at any Subsequent Closing, shall be made on the terms and conditions set forth in the Subscription Agreements,
and (i) the representations and warranties of the Company set forth in Section 3 hereof (and the Disclosure Schedule) shall speak
as of each Closing (except to the extent specified otherwise in Section 3) and (ii) the representations and warranties of the Additional
Purchasers in Section 4 hereof shall speak as of such Subsequent Closing. Any Subsequent Closing Shares issued and sold pursuant
to this Section 1.2(b) shall be deemed to be “Shares” for all purposes under this Agreement, and any
Additional Purchasers thereof shall be deemed to be “Purchasers” for all purposes under this Agreement.
The Initial Closing and the Subsequent Closings, if any, shall be known collectively herein as the “Closings”
or individually as a “Closing.”

 

(c) Subscription
Procedure.  To complete a subscription for the Shares, the Purchaser must fully comply with the subscription procedure
provided in paragraphs a. through c. of this Section on or before the applicable Closing:

 

(i) Subscription
Documents.  At or before the applicable Closing, the Purchaser shall review, complete and execute the Omnibus Signature
Page to this Agreement and the Registration Rights Agreement substantially in the form of Exhibit A hereto (the “Registration
Rights Agreement”), Investor Profile, Selling
Securityholder Questionnaire and Investor Certification, attached hereto following the Omnibus Signature Page (collectively, the
“Subscription Documents”), if applicable, additional forms and questionnaires
distributed to the Purchaser and deliver the Subscription Documents and such additional forms and questionnaires to the party indicated
thereon at the address set forth under the caption “How to subscribe for Shares in the private offering of the Company.”
below. Executed documents may be delivered to such party by facsimile or .pdf sent by electronic mail (e-mail).

 

    2

     

    

 

(ii) Purchase
Price.  Simultaneously with the delivery
of the Subscription Documents as provided herein, and in any event at or prior to the applicable Closing, the Purchaser shall deliver
to Signature Bank, in its capacity as escrow agent (the “Escrow Agent”),
under an escrow agreement among the Company, the Placement Agents (as defined below) and the Escrow Agent (the “Escrow
Agreement”) the full Purchase Price by certified or other bank check or by wire transfer
of immediately available funds, pursuant to the instructions set forth under the caption “How to subscribe for Shares
in the private offering of the Company” below. Such funds will be held for the Purchaser’s benefit in the escrow
account established for the Offering (the “Escrow Account”)
and will be returned promptly, without interest or offset, if this Agreement is not accepted by the Company, or the Minimum Offering
Amount has not been sold or the Offering is terminated pursuant to its terms prior to the Closing.

 

(iii) Company
Discretion.  The Purchaser understands
and agrees that the Company in its sole discretion reserves the right to accept or reject this or any other subscription for Shares,
in whole or in part, notwithstanding prior receipt by the Purchaser of notice of acceptance of this subscription. The Company shall
have no obligation hereunder until the Company shall execute and deliver to the Purchaser an executed copy of this Agreement. If
this subscription is rejected in whole, or the Offering is terminated, all funds received from the Purchaser will be returned without
interest or offset, and this Agreement shall thereafter be of no further force or effect. If this subscription is rejected in part,
the funds for the rejected portion of this subscription will be returned without interest or offset, and this Agreement will continue
in full force and effect to the extent this subscription was accepted.

 

2. Placement
Agents. Placement Agent, a U.S.-registered broker-dealer (“PA”), has been
engaged by the Company as placement agent on a reasonable best efforts basis, for the Offering. The Company, subject to its agreement
with PA, or PA itself, may engage additional placement agents (PA together with any such additional placement agents,
the “Placement Agents”). The Placement Agents, collectively, will be paid at each Closing from the Offering
proceeds a total cash commission of ten percent (10%) of the gross Purchase Price paid by Purchasers in the Offering introduced
by them (the “Cash Fee”) and will collectively receive warrants to purchase a number of shares of Common
Stock equal to 10% of the number of shares of Common Stock sold to investors in the Offering, introduced by them, with a term of
five (5) years from the date of the applicable Closing, and an exercise price of $1.50 per share (the “Placement Agent
Warrants”); provided that with respect to funds raised from existing stockholders of Amesite or other purchasers
as agreed to by Amesite and PA, the Placement Agents will not be paid a Cash Fee and will receive no warrant coverage. The
Company will also pay certain expenses of the Placement Agents in connection with the Offering. Any sub-agent of the Placement
Agent that introduces investors to the Offering will be entitled to share in the Cash Fee and/or Placement Agent Warrants attributable
to those investors pursuant to the terms of an executed sub-agent agreement.

 

3. Representations
and Warranties of the Company.  Except (i) as set forth in the Disclosure Schedule delivered to the Purchasers
concurrently with the execution of this Agreement (the “Disclosure Schedule”), or (ii) as disclosed in
the substantially complete draft of the Current Report on Form 8-K describing the Merger, the Offering and the related transactions,
including “Form 10 information” (as defined in Rule 144(i)(3) under the Securities Act), to be filed by the Company
with the Securities and Exchange Commission (the “SEC”) within four Business Days (as defined below)
after the closing of the Merger and the initial Closing of the Offering (the “Super 8-K”) (but excluding
any disclosures contained under the heading “Risk Factors” and any disclosure of risks included in any “forward-looking
statements” disclaimer or in any other section to the extent they are forward-looking statements or cautionary, predictive
or forward-looking in nature), the Company hereby represents and warrants to the Purchaser, as of the Closing (after giving effect
to the Merger), the following:

 

a. Organization
and Qualification.  The Company and each of its subsidiaries is a corporation duly organized, validly existing and
in good standing under the laws of Delaware, and has the requisite corporate power to own its properties and to carry on its business
as now being conducted. The Company and each of its subsidiaries 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 by it makes such qualification necessary,
except to the extent that the failure to be so qualified or be in good standing would not have any material adverse effect on (i)
the business, properties, assets, liabilities, operations (including results thereof), condition (financial or otherwise) or prospects
of the Company and its subsidiaries, individually or taken as a whole, (ii) the transactions contemplated hereby or in the other
Transaction Documents (as defined below) or by the agreements and instruments to be entered into in connection herewith or therewith
or (iii) the authority or ability of the Company to perform its obligations under the Transaction Documents (a “Material
Adverse Effect”). Each subsidiary of the Company is identified on Schedule 3a attached hereto. 

 

    3

     

    

 

b. Authorization,
Enforcement, Compliance with Other Instruments.  (i) The Company has the requisite corporate power and authority
to enter into and perform its obligations under this Agreement, the Registration Rights Agreement and the Escrow Agreement (the
“Transaction Documents”) and to issue the Shares, in accordance with the terms hereof and thereof; (ii)
the execution and delivery by the Company of each of the Transaction Documents and the consummation by it of the transactions contemplated
hereby and thereby, including, without limitation, the issuance of the Shares, have been, or will be at the time of execution of
such Transaction Document, duly authorized by the Company’s Board of Directors, and no further consent or authorization is,
or will be at the time of execution of such Transaction Document, required by the Company, its Board of Directors or its stockholders;
(iii) each of the Transaction Documents will be duly executed and delivered by the Company; and (iv) the Transaction Documents
when executed will constitute the valid and binding obligations of the Company enforceable against the Company in accordance with
their terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of creditors’
rights and remedies and, with respect to any rights to indemnity or contribution contained in the Transaction Documents, as such
rights may be limited by state or federal laws or public policy underlying such laws.

 

c. Capitalization.  The
authorized capital stock of the Company consists of 50,000,000 shares of Common Stock and 5,000,000 shares of preferred stock,
par value $0.0001 per share (the “Preferred Stock”). After giving effect to the Merger, but immediately
before the Initial Closing, the Company will have 9,333,333 shares of Common Stock (on a fully-diluted basis) and no shares of
Preferred Stock issued and outstanding. All of the outstanding shares of Common Stock and of the capital stock of each of the Company’s
subsidiaries have been duly authorized, validly issued and are fully paid and nonassessable. Immediately after giving effect to
the Closing of the Minimum Offering Amount or the Maximum Offering Amount (in each case, assuming no sales pursuant to the Over-Subscription
Option), the pro forma outstanding capitalization of the Company will be as set forth under “Pro Forma Capitalization”
in Schedule 3c. After giving effect to the Merger: (i) no shares of capital stock of the Company or any of its subsidiaries
will be subject to preemptive rights or any other similar rights or any liens or encumbrances suffered or permitted by the Company;
(ii) except as set forth on Schedule 3c(ii) and as contemplated by the Transaction Documents and Placement Agent Warrants,
there will be no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries, or
contracts, commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to
issue additional shares of capital stock of the Company or any of its subsidiaries; (iii) there will be no outstanding debt securities
of the Company or any of its subsidiaries other than indebtedness as set forth in Schedule 3c(iii); (iv) other than
pursuant to the Registration Rights Agreement or as set forth in Schedule 3c(iv), there will be no agreements or arrangements
under which the Company or any of its subsidiaries is obligated to register the sale of any of their securities under the Securities
Act; (v) there will be no outstanding registration statements of the Company or any of its subsidiaries, and there will be
no outstanding comment letters from the SEC or any other regulatory agency; (vi) except as provided in this Agreement or as set
forth in Schedule 3c(vi), there will be no securities or instruments of the Company or any of its subsidiaries containing
anti-dilution or similar provisions, including the right to adjust the exercise, exchange or reset price under such securities,
that will be triggered by the issuance of the Shares as described in this Agreement; and (vii) no co-sale right, right of first
refusal or other similar right will exist with respect to the Shares or the issuance and sale thereof. Upon request, the Company
will make available to the Purchaser true and correct copies of the Company’s Certificate of Incorporation, as in effect
as of the Initial Closing, and the Company’s Bylaws, as in effect as of the Initial Closing, and the terms of all securities
exercisable for Common Stock and the material rights of the holders thereof in respect thereto other than stock options issued
to officers, directors, employees and consultants.

 

    4

     

    

 

d. Issuance
of Shares.  The Shares that are being issued to the Purchaser hereunder, when issued, sold and delivered in accordance
with the terms and for the consideration set forth in this Agreement, will be duly and validly issued, fully paid and nonassessable,
and free of restrictions on transfer other than restrictions on transfer under the Transaction Documents, applicable state and
federal securities laws and liens or encumbrances created by or imposed by the Purchaser.

 

e. No
Conflicts.  The execution, delivery and performance of each of the Transaction Documents by the Company, and the
consummation by the Company of the transactions contemplated hereby and thereby including issuance and sale of the Shares in accordance
with this Agreement will not (i) result in a violation of the Certificate of Incorporation or the Bylaws (or equivalent constitutive
document) of the Company or any of its subsidiaries or (ii) violate or conflict with, or result in a breach of any provision of,
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 to which the Company
or any subsidiary is a party, except for those which would not reasonably be expected to have a Material Adverse Effect, or (iii)
result in a violation of any law, rule, regulation, order, judgment or decree (including U.S. federal and state securities laws
and regulations) applicable to the Company or any subsidiary or by which any property or asset of the Company or any subsidiary
is bound or affected, except for those which would not reasonably be expected to have a Material Adverse Effect. Neither the Company
nor any subsidiary is in violation of or in default under, any provision of its Certificate of Incorporation or Bylaws. Neither
the Company nor any subsidiary is in violation of any term of or in default under any contract, agreement, mortgage, indebtedness,
indenture, instrument, judgment, decree or order or any statute, rule or regulation applicable to the Company or any subsidiary,
which violation or breach has had or would reasonably be expected to have a Material Adverse Effect. Except as specifically contemplated
by this Agreement and as required under the Securities Act and any applicable state securities laws, neither the Company nor any
of its subsidiaries is 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 or contemplated by this
Agreement or the other Transaction Documents in accordance with the terms hereof or thereof other than (i) the filings required
pursuant to Section 9(j), (ii) the filing of the registration statement contemplated by the Registration Rights Agreement and (iii)
the filing of Form D with the SEC. Except as set forth on Schedule 3e, neither the execution and delivery by the Company
of the Transaction Documents, nor the consummation by the Company of the transactions contemplated hereby or thereby, will require
any notice, consent or waiver under any contract or instrument to which the Company or any subsidiary is a party or by which the
Company or any subsidiary is bound or to which any of their assets is subject, except for any notice, consent or waiver the absence
of which would not reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. All consents, authorizations,
orders, filings and registrations which the Company or any of its subsidiaries is required to obtain pursuant to the preceding
two sentences have been or will be obtained or effected on or prior to the Closing.

 

    5

     

    

 

f. Absence
of Litigation.  Except as set forth on Schedule 3f, there is no action, suit, claim, inquiry, notice of violation,
proceeding (including any partial proceeding such as a deposition) or investigation before or by any court, public board, governmental
or administrative agency, self-regulatory organization, arbitrator, regulatory authority, stock market, stock exchange or trading
facility (an “Action”) now pending or, to the knowledge of the Company, threatened against or affecting
the Company or any of its subsidiaries or any of their respective officers or directors, which would be reasonably likely to (i)
adversely affect the validity or enforceability of, or the authority or ability of the Company to perform its obligations under,
this Agreement or any of the other Transaction Documents, or (ii) have a Material Adverse Effect. For the purpose of this Agreement,
the knowledge of the Company means the knowledge of the officers of the Company (for the avoidance of doubt, after giving effect
to the Merger) and Amesite (both actual or knowledge that they would have had upon reasonable inquiry of the personnel of Amesite
responsible for the applicable subject matter). Neither the Company nor any of its subsidiaries is subject to any judgment, decree,
or order which has had, or would reasonably be expected to have a Material Adverse Effect.

 

g. Acknowledgment
Regarding Purchaser’s Purchase of the Shares.  The Company acknowledges and agrees that each Purchaser is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company
(or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice
given by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the
transactions contemplated thereby is merely incidental to the Purchaser’s purchase of the Shares.

 

h. No
General Solicitation.  Neither the Company, nor any of its Affiliates, nor, to the knowledge of the Company, any
person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning
of Regulation D) in connection with the offer or sale of the Shares. “Affiliate” means, with respect
to any person, any other person that, directly or indirectly through one or more intermediaries, controls, is controlled by or
is under common control with such person, as such terms are used in and construed under Rule 144 under the Securities Act
(“Rule 144”). With respect to a Purchaser, any investment fund or managed account that is managed on
a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser.

 

i. No
Integrated Offering.  Except with respect to the Insider Investment, neither the Company, nor any of its Affiliates,
nor to the knowledge of the Company, any person acting on its or their behalf has, directly or indirectly, made any offers or sales
of any security or solicited any offers to buy any security, under circumstances that would require registration of the Shares
under the Securities Act or cause this offering of the Shares to be integrated with prior offerings by the Company for purposes
of the Securities Act.

 

j. Employee
Relations.  Except as disclosed in the SEC Reports (as defined below), neither Company nor any subsidiary is involved
in any labor dispute nor, to the knowledge of the Company, is any such dispute threatened. Except as disclosed in the SEC Reports,
neither Company nor any subsidiary is party to any collective bargaining agreement. Except as disclosed in the SEC Reports, the
Company’s and/or its subsidiaries’ employees are not members of any union, and the Company believes that its and its
subsidiaries’ relationship with their respective employees is good.

 

    6

     

    

 

k. Intellectual
Property Rights. After giving effect to the Merger, except as set forth on Schedule 3k, the Company and each of its
subsidiaries owns, possesses, or has rights to use, all Intellectual Property necessary for the conduct of the Company’s
and its subsidiaries’ business as now conducted, except as such failure to own, possess or have such rights would not reasonably
be expected to result in a Material Adverse Effect and there are no unreleased liens or security interests which have been filed,
or which the Company has received notice of, against any of the patents owned to the Company. Furthermore, (A) to the Company’s
knowledge, there is no infringement, misappropriation or violation by third parties of any such Intellectual Property, except as
such infringement, misappropriation or violation would not result in a Material Adverse Effect; (B) there is no pending or, to
the Company’s knowledge, threatened, Action by others challenging the Company’s or any of its subsidiaries’ rights
in or to any such Intellectual Property, and to the Company’s knowledge, there are no facts which would form a reasonable
basis for any such Action; (C) the Intellectual Property owned by the Company and its subsidiaries, and to the Company’s
knowledge, the Intellectual Property licensed to the Company and its subsidiaries, has not been adjudged invalid or unenforceable,
in whole or in part, and there is no pending or, to the Company’s knowledge, threatened Action by others challenging the
validity, enforceability or scope of any such Intellectual Property, and, to the Company’s knowledge, there are no facts
which would form a reasonable basis for any such Action; (D) there is no pending or, to the Company’s knowledge, threatened
Action by others that the Company or any of its subsidiaries infringes, misappropriates or otherwise violates any Intellectual
Property or other proprietary rights of others, neither the Company nor any of its subsidiaries has received any written notice
of such Action, and, to the Company’s knowledge, there are no other facts which would form a reasonable basis for any such
Action, except in each case for any Action as would not be reasonably expected to have a Material Adverse Effect; and (E) to the
Company’s knowledge, no employee of the Company or any of its subsidiaries is in violation of any term of any employment
contract, patent disclosure agreement, invention assignment agreement, non-competition agreement, non-solicitation agreement, nondisclosure
agreement or any restrictive covenant to or with a former employer where the basis of such violation relates to such employee’s
employment with the Company or any of its subsidiaries or actions undertaken by the employee while employed with the Company or
any of its subsidiaries, except such violation as would not reasonably be expected to have a Material Adverse Effect. Except as
would not reasonably be expected to have a Material Adverse Effect, (1) the Company and its subsidiaries have disclosed to the
U.S. Patent and Trademark Office (USPTO) all information known to the Company to be relevant to the patentability of its inventions
in accordance with 37 C.F.R. Section 1.56, and (2) neither the Company nor any of its subsidiaries made any misrepresentation or
concealed any information from the USPTO in any of the patents or patent applications owned or licensed to the Company, or in connection
with the prosecution thereof, in violation of 37 C.F.R. Section 1.56. Except as would not reasonably be expected to have a Material
Adverse Effect and to the Company’s knowledge, (x) there are no facts that are reasonably likely to provide a basis for a
finding that the Company or any of its subsidiaries does not have clear title to the patents or patent applications owned or licensed
to the Company or other proprietary information rights as being owned by the Company or any of its subsidiaries, (y) no valid issued
U.S. patent would be infringed by the activities of the Company or any of its subsidiaries relating to products currently or proposed
to be manufactured, used or sold by the Company or any of its subsidiaries and (z) there are no facts with respect to any issued
patent owned that would cause any claim of any such patent not to be valid and enforceable with applicable regulations. “Intellectual
Property” shall mean all patents, patent applications, trade and service marks, trade and service mark registrations,
trade names, copyrights, licenses, inventions, trade secrets, domain names, technology and know-how.

 

    7

     

    

 

l. Environmental
Laws.

 

(i) The
Company and each subsidiary has complied with all applicable Environmental Laws (as defined below), except for violations of Environmental
Laws that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect.
There is no pending or, to the knowledge of the Company, threatened civil or criminal litigation, notice of violation, formal administrative
proceeding, or investigation, inquiry or information request, relating to any Environmental Law involving the Company or any subsidiary,
except for litigation, notices of violations, formal administrative proceedings or investigations, inquiries or information requests
that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect. For
purposes of this Agreement, “Environmental Law” means any national, state, provincial or local law, statute,
rule or regulation or the common law relating to the environment or occupational health and safety, including without limitation
any statute, regulation, administrative decision or order pertaining to (i) treatment, storage, disposal, generation and transportation
of industrial, toxic or hazardous materials or substances or solid or hazardous waste; (ii) air, water and noise pollution; (iii)
groundwater and soil contamination; (iv) the release or threatened release into the environment of industrial, toxic or hazardous
materials or substances, or solid or hazardous waste, including without limitation emissions, discharges, injections, spills, escapes
or dumping of pollutants, contaminants or chemicals; (v) the protection of wild life, marine life and wetlands, including without
limitation all endangered and threatened species; (vi) storage tanks, vessels, containers, abandoned or discarded barrels, and
other closed receptacles; (vii) health and safety of employees and other persons; and (viii) manufacturing, processing, using,
distributing, treating, storing, disposing, transporting or handling of materials regulated under any law as pollutants, contaminants,
toxic or hazardous materials or substances or oil or petroleum products or solid or hazardous waste. As used above, the terms “release”
and “environment” shall have the meaning set forth in the Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended.

 

(ii) To
the knowledge of the Company there is no material environmental liability with respect to any solid or hazardous waste transporter
or treatment, storage or disposal facility that has been used by the Company or any subsidiary.

 

m. Authorizations;
Regulatory Compliance. The Company and each of its subsidiaries holds, and is operating in compliance with, all authorizations,
licenses, permits, approvals, clearances, registrations, exemptions, consents, certificates and orders of any governmental authority
and supplements and amendments thereto (collectively, “Authorizations”) required for the conduct of its
business in all applicable jurisdictions and all such Authorizations are valid and in full force and effect, except for Authorizations
the absence of which would not reasonably be expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries
is in material violation of any terms of any such Authorizations, except, in each case, such as would not reasonably be expected
to have a Material Adverse Effect; and neither the Company nor any of its subsidiaries has received written notice of any revocation
or modification of any such Authorization, or written notice that such revocation or modification is being considered, except to
the extent that any such revocation or modification would not be reasonably expected to have a Material Adverse Effect. The Company
and each of its subsidiaries is in compliance with all applicable federal, state, local and foreign laws, regulations, orders and
decrees, including such laws and regulations applicable to the manufacture, distribution, import and export of regulated products
and component parts and ingredients, except as would not reasonably be expected to have a Material Adverse Effect. Neither the
Company nor any of its subsidiaries has received any FDA Form 483, warning letter, untitled letter or other correspondence or written
notice from the U.S. Food and Drug Administration (“FDA”), its foreign counterparts, or any other federal,
state, local or foreign governmental or regulatory authority (each a “Governmental Authority”), alleging
or asserting noncompliance with the Federal Food, Drug, and Cosmetic Act (21 U.S.C. § 301 et seq.) or comparable foreign laws.
Neither the Company nor any of its subsidiaries has been notified, either orally or in writing, by any Governmental Authority that
a clinical study has been put on hold or may be put on hold. The Company and each of its subsidiaries, and to the Company’s
knowledge, each of their respective directors, officers, employees and agents, is and has been in material compliance with applicable
health care laws, including, to the extent applicable, without limitation, the Federal Food, Drug and Cosmetic Act (21 U.S.C. §
301 et seq.), the federal Anti-Kickback Statute (42 U.S.C. § 1320a-7b(b)), the Health Insurance Portability and Accountability
Act of 1996 (42 U.S.C. § 1320d et seq.), as amended by the Health Information Technology for Economic and Clinical Health
Act of 2009 (42 U.S.C. § 17921 et seq.), and the regulations promulgated pursuant to such laws, and comparable state laws
and foreign laws (collectively, “Health Care Laws”) , except, in each case, as would not reasonably be
expected to have a Material Adverse Effect. Neither the Company nor any of its subsidiaries has received written notice of any
ongoing claim, action, suit, proceeding, hearing, enforcement, investigation, arbitration or other action from any Governmental
Authority or third party alleging that any product operation or activity is in material violation of any Health Care Laws or any
Authorizations, nor that any activity conducted by either an employee or any person acting on the Company’s behalf is in
violation of applicable data protection and privacy laws, rules and regulations, as amended from time to time, with respect to
the collection, use, processing, storage, transfer, modification, deletion and/or disclosure of any personal information that is
protected under applicable privacy laws and regulations. The Company and each of its subsidiaries has filed, obtained, maintained
or submitted all reports, documents, forms, notices, applications, records, claims, submissions and supplements or amendments thereto
as required by any Health Care Laws or any Authorizations and all such reports, documents, forms, notices, applications, records,
claims, submissions and supplements or amendments were complete, correct and not misleading on the date filed (or were corrected
or supplemented by a subsequent submission), except where any of the foregoing would not be reasonably expected to have a Material
Adverse Effect. Neither the Company nor any of its subsidiaries has, either voluntarily or involuntarily, initiated, conducted,
or issued or caused to be initiated, conducted or issued, any other notice or action relating to any alleged product defect or
violation and, to the Company's knowledge, no third party has initiated or conducted any such notice or action relating to any
of the Company’s products in development. Neither the Company nor any of its subsidiaries is a party to any corporate integrity
agreement, deferred prosecution agreement, monitoring agreement, consent decree, settlement order, or similar agreements, or has
any reporting obligations pursuant to any such agreement, plan or correction or other remedial measure entered into with any Governmental
Authority.

 

    8

     

    

 

n. Title.
Neither the Company nor any of its subsidiaries owns any real property. Except as set forth on Schedule 3n,
each of the Company and its subsidiaries has good and marketable title to all of its personal property and assets (i)
purportedly owned or used by them as reflected in the SEC Reports, as of their respective dates, or (ii) necessary for the
conduct of their business as currently conducted, free and clear of any restriction, mortgage, deed of trust, pledge, lien,
security interest or other charge, claim or encumbrance which would have a Material Adverse Effect. Except as set forth on Schedule
3n, with respect to properties and assets it leases, each of the Company and its subsidiaries is in compliance with
such leases and holds a valid leasehold interest free of any liens, claims or encumbrances which would have a Material
Adverse Effect. 

 

o. Tax
Status.  The Company and each subsidiary has made and filed (taking into account any valid extensions) all federal
and state income and all other tax returns, reports and declarations required by any jurisdiction to which it is subject and (unless
and only to the extent that the Company or such subsidiary has set aside on its books provisions reasonably adequate for the payment
of all unpaid and unreported taxes) has paid all taxes and other governmental assessments and charges that are material in amount,
shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and has set
aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such
returns, reports or declarations apply. To the knowledge of the Company, there are no unpaid taxes in any material amount claimed
to be due from the Company or any subsidiary by the taxing authority of any jurisdiction, and the officers of the Company know
of no basis for any such claim.

 

p. Certain
Transactions.  Except for arm’s length transactions pursuant to which the Company or any subsidiary makes payments
in the ordinary course of business upon terms no less favorable than it could obtain from third parties, none of the officers,
directors, or employees of the Company or any subsidiary is presently a party to any transaction with the Company or any subsidiary
(other than for services as employees, officers and directors), including any contract, agreement or other arrangement providing
for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments
to or from any officer, director or such employee or, to the knowledge of the Company, any corporation, partnership, trust or other
entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner.
All transactions that would be required to be disclosed by the Company pursuant to Item 404 of Regulation S-K promulgated under
the Securities Act are disclosed in the SEC Reports in accordance with Item 404 or in the Super 8-K.

 

q. Rights
of First Refusal.  Except as set forth on Schedule 3q, the Company is not obligated to offer the securities
offered hereunder on a right of first refusal basis or otherwise to any third parties including, but not limited to, current or
former stockholders of the Company, underwriters, brokers, agents or other third parties.

 

r. Insurance.  The
Company and its subsidiaries have insurance policies of the type and in amounts customarily carried by organizations conducting
businesses or owning assets similar to those of the Company and its subsidiaries. There is no material claim pending under any
such policy as to which coverage has been questioned, denied or disputed by the underwriter of such policy.

 

s. SEC
Reports.  The Company has filed all reports, schedules, forms, statements and other documents required to be filed
by the Company under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) (together with
the Super 8-K, the “SEC Reports”) for the two (2) years preceding the date hereof (or such shorter period
since the Company was first required by law or regulation to file such material). The draft Super 8-K to be furnished to each Purchaser
prior to the Initial Closing will not materially deviate from the Super 8-K. The Super 8-K will comply, and the other SEC Reports
at the time they were filed complied, in all material respects with the requirements of the Securities Act or the Exchange Act,
as applicable, and the applicable rules and regulations of the SEC thereunder and other federal, state and local laws, rules and
regulations applicable to such documents, and, as of their respective dates, the SEC Reports did not contain or, in the case of
the Super 8-K will not contain, any untrue statement of a material fact or omitted to state a material fact required to be stated
therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.
There are no contracts, agreements or other documents that are required to be described
in the SEC Reports and/or to be filed as exhibits thereto that are not described, in all material respects, and/or filed as required.
There has not been any material change or amendment to, or any waiver of any material right under, any such contract or agreement
that has not been described in and/or filed as an exhibit to the SEC Reports.

 

    9

     

    

 

t. Financial
Statements.  The financial statements of the Company included in the SEC Reports comply in all material respects
with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time
of filing. Such financial statements have been prepared in accordance with GAAP applied on a consistent basis during the periods
involved, except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial
statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of
the Company and its consolidated subsidiaries taken as a whole as of and for the dates thereof and the results of operations and
cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, year-end audit adjustments. The
pro forma financial information and the related notes, if any, included in the SEC Reports have been properly compiled and prepared
in accordance with the applicable requirements of the Securities Act and the regulations promulgated thereunder and fairly present
in all material respects the information shown therein, and the assumptions used in the preparation thereof are reasonable and
the adjustments used therein are appropriate to give effect to the transactions and circumstances referred to therein. The financial
statements of Amesite to be included in the Super 8-K (the “Amesite Financial Statements”) comply in
all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto
as in effect at the time of filing. The Amesite Financial Statements have been prepared in accordance with GAAP applied on a consistent
basis during the periods involved and fairly present in all material respects, the financial conditions and results of Amesite
and its subsidiaries as of the dates thereof and the results of operations and cash flows for the periods then ended.

 

u. Material
Changes.  Since the respective date of the latest balance sheet of the Company and the latest balance sheet of Amesite
included in the financial statements contained within the SEC Reports, except as specifically disclosed in the SEC Reports, (i)
there have been no events, occurrences or developments that have had or would reasonably be expected to have a Material Adverse
Effect with respect to the Company or Amesite, (ii) there have not been any changes in the authorized capital,
assets, financial condition, business or operations of the Company or Amesite from that reflected in the financial statements contained
within the SEC Reports except changes in the ordinary course of business which have not been, either individually or in the aggregate,
materially adverse to the business, properties, financial condition, results of operations or future prospects of the Company or
Amesite, (iii) neither the Company or any subsidiary nor Amesite has incurred any material liabilities (contingent or otherwise)
other than (A) trade payables, accrued expenses and other liabilities incurred in the ordinary course of business consistent with
past practice and (B) liabilities not required to be reflected in the financial statements of the Company or of Amesite, as applicable,
pursuant to GAAP or to be disclosed in the SEC Reports, (iv) neither the Company or any subsidiary nor Amesite has materially altered
its method of accounting or the manner in which it keeps its accounting books and records, and (v) neither the Company or any subsidiary
nor Amesite has declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed
or made any agreements to purchase or redeem any shares of its capital stock (other than in connection with repurchases of unvested
stock issued to employees of the Company). The Company and its subsidiaries, individually and on a consolidated basis, are not
as of the date hereof, and after giving effect to the transactions contemplated hereby to occur at the Closing, will not be Insolvent
(as defined below). For purposes of this Section 3(u), “Insolvent” means, with respect to the Company, on a
consolidated basis with its subsidiaries, (i) the present fair saleable value of the Company’s and its subsidiaries’
assets is less than the amount required to pay the Company’s and its subsidiaries’ total indebtedness), (ii) the Company
and its subsidiaries are unable to pay their debts and liabilities, subordinated, contingent or otherwise, as such debts and liabilities
become absolute and matured or (iii) the Company and its subsidiaries intend to incur or believe that they will incur debts that
would be beyond their ability to pay as such debts mature. To the best of its knowledge, other than with respect to the transactions
contemplated by the Merger Agreement, no event, liability, development or circumstance has occurred or exists, or is contemplated
to occur with respect to the Company, any of its subsidiaries or their respective business, properties, liabilities, prospects,
operations (including results thereof) or condition (financial or otherwise), that would be required to be disclosed by the Company
under applicable securities laws on a registration statement on Form S-1 filed with the SEC relating to an issuance and sale by
the Company of its Common Stock and which has not been publicly announced.

 

v. Disclosure
Controls. The Company has established and maintains disclosure controls and procedures (as defined in Rules 13a-14 and 15d-15
under the Exchange Act) and such controls and procedures are effective in ensuring that material information relating to the Company,
including its subsidiaries, is made known to the principal executive officer and the principal financial officer.

 

    10

     

    

 

w. Sarbanes-Oxley.  The
Company is in compliance in all material respects with all of the provisions of the Sarbanes-Oxley Act of 2002 which are applicable
to it.

 

x. Off-Balance
Sheet Arrangements.  There is no transaction, arrangement, or other relationship between the Company or any subsidiary
and an unconsolidated or other off-balance sheet entity that is required to be disclosed by the Company in its SEC Reports (including,
for purposes hereof, any that are required to be disclosed in a Form 10) and is not so disclosed or that otherwise would have a
Material Adverse Effect.

 

y. Foreign
Corrupt Practices.  Neither the Company and its subsidiaries, nor to the Company’s knowledge, any agent or
other person acting on behalf of the Company or its subsidiaries, has: (i) directly or indirectly, used any funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any
unlawful payment to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns
from corporate funds, (iii) failed to disclose fully any contribution made by the Company (or made by any person acting on its
behalf of which the Company is aware) which is in violation of law or (iv) violated in any material respect any provision of the
Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”).

 

z. Brokers’
Fees. Neither of the Company nor any of its subsidiaries has any liability or obligation to pay any fees or commissions to
any broker, finder or agent with respect to the transactions contemplated by this Agreement, except for the payment of fees to
the Placement Agents as described in Section 2 above.

 

aa. Disclosure
Materials.  The SEC Reports and the Disclosure Materials taken as a whole do not contain an untrue statement of a
material fact or omit to state a material fact required to be stated therein (in the case of SEC Reports) or necessary to make
the statements therein, in the light of the circumstances under which they were made, not misleading. For the purposes of this
Agreement “Disclosure Materials” means the Confidential and Non-Binding Summary Term Sheet of the Company
previously provided to the Purchaser, as amended from time to time, relating to the Offering and any supplement or amendment thereto,
and any disclosure schedule or other information document, delivered to the Purchaser prior to Purchaser’s execution of this
Agreement, and any such document delivered to the Purchaser after Purchaser’s execution of this Agreement and prior to the
closing of the Purchaser’s subscription hereunder including the Super 8-K. 

 

bb. Investment
Company.  The Company is not required to be registered as, and is not an Affiliate of, and immediately following
the Closing will not be required to register as, an “investment company” within the meaning of the Investment Company
Act of 1940, as amended.

 

cc. Reliance.  The
Company acknowledges that the Purchaser is relying on the representations and warranties (as modified by the disclosures on the
Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors” and
any disclosures of risks included in any “forward looking statements” or cautionary, predictive or forward-looking
in nature) made by the Company hereunder and that such representations and warranties (as modified by the disclosures on the Disclosure
Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors” and any disclosures
of risks included in any “forward looking statements” or cautionary, predictive or forward-looking in nature) are a
material inducement to the Purchaser purchasing the Shares.

 

    11

     

    

 

dd. Use of Proceeds.  The
Company presently intends to use the net proceeds from the Offering to fund the ongoing development of pipeline products, for working
capital and other general corporate purposes and shall not use such proceeds: (a) for the satisfaction of any portion of the Company’s
debt (other than outstanding note payables set forth on Schedule 3(dd) or the payment of trade payables in the ordinary
course of the Company’s business and prior practices), (b) for the redemption of any Common Stock or any securities convertible
into and/or exercisable for Common Stock, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC
(as defined below) regulations.

 

ee. Bad Actor Disqualification.
No “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification
Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person, except for
a Disqualification Event as to which Rule 506(d)(2)(ii–iv) or (d)(3), is applicable. “Company Covered Person”
means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated under the Securities Act, any
person listed in the first paragraph of Rule 506(d)(1).

 

ff. Office of Foreign
Assets Control. Neither the Company nor any subsidiary nor, to the Company's knowledge, any director, officer, agent, employee
or affiliate of the Company or any subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign
Assets Control of the U.S. Treasury Department (“OFAC”).

 

gg. Money Laundering.
The operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial
record-keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, applicable
money laundering statutes and applicable rules and regulations thereunder (collectively, the “Money Laundering Laws”),
and no Action by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any subsidiary
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any subsidiary, threatened.

 

hh. The Company’s
transfer agent (the “Transfer Agent”) is a participant in and the Common Stock is eligible for transfer
pursuant to the Depository Trust Company Automated Securities Transfer Program.

 

ii. The
Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action designed to
cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale
of any of the Securities, (ii) sold, bid for, purchased, or paid any compensation for soliciting purchases of, any of the Securities,
or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company,
other than, in the case of clauses (ii) and (iii), compensation paid to the Company’s placement agent in connection with
the placement of the Securities.

 

jj. The Common Stock
is registered pursuant to Section 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge
is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received
any notification that the SEC is contemplating terminating such registration.

 

4. Representations,
Warranties and Agreements of the Purchaser. The Purchaser, severally and not jointly with any other Purchaser, represents
and warrants to, and agrees with, the Company the following:

 

a. The
Purchaser has the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its
prospective investment in the Company, and has carefully reviewed and understands the risks of, and other considerations relating
to, the purchase of Shares and the tax consequences of the investment, and has the ability to bear the economic risks of the investment.
The Purchaser can afford the loss of his, her or its entire investment.

 

    12

     

    

 

b. The
Purchaser is acquiring the Shares for investment for his, her or its own account and not with the view to, or for resale in connection
with, any distribution thereof. The Purchaser understands and acknowledges that the Offering and sale of the Shares have not been
registered under the Securities Act or any state securities laws, by reason of a specific exemption from the registration provisions
of the Securities Act and applicable state securities laws, which depends upon, among other things, the bona fide nature of the
investment intent as expressed herein. The Purchaser further represents that he, she or it does not have any contract, undertaking,
agreement or arrangement with any person to sell, transfer or grant participation to any third person with respect to any of the
Shares. The Purchaser understands and acknowledges that the Offering of the Shares will not be registered under the Securities
Act nor under the state securities laws on the ground that the sale of the Shares to the Purchaser as provided for in this Agreement
and the issuance of securities hereunder is exempt from the registration requirements of the Securities Act and any applicable
state securities laws. The Purchaser is an “accredited investor” as defined in Rule 501 of Regulation D as promulgated
by the SEC under the Securities Act, for the reason(s) specified on the Accredited Investor Certification attached
hereto as completed by Purchaser, and Purchaser shall submit to the Company such further assurances of such status as may be reasonably
requested by the Company. The Purchaser resides in the jurisdiction set forth on the Purchaser’s Omnibus Signature Page affixed
hereto. The Purchaser has not taken any of the actions set forth in, and is not subject to, the disqualification provisions of
Rule 506(d)(1) of the Securities Act.

 

c. The
Purchaser (i) if a natural person, represents that he or she is the greater of (A) 21 years of age or (B) the age of legal majority
in his or her jurisdiction of residence, and has full power and authority to execute and deliver this Agreement and all other related
agreements or certificates and to carry out the provisions hereof and thereof; (ii) if a corporation, partnership, limited liability
company, association, joint stock company, trust, unincorporated organization or other entity, represents that such entity was
not formed for the specific purpose of acquiring the Shares, such entity is duly organized, validly existing and in good standing
under the laws of the state or jurisdiction of its organization, the consummation of the transactions contemplated hereby is authorized
by, and will not result in a violation of state law or its charter or other organizational documents, such entity has full power
and authority to execute and deliver this Agreement and all other related agreements or certificates and to carry out the provisions
hereof and thereof and to purchase and hold the Shares, the execution and delivery of this Agreement has been duly authorized by
all necessary action, this Agreement has been duly executed and delivered on behalf of such entity and is a legal, valid and binding
obligation of such entity; or (iii) if executing this Agreement in a representative or fiduciary capacity, represents that he,
she or it has full power and authority to execute and deliver this Agreement in such capacity and on behalf of the subscribing
individual, ward, partnership, trust, estate, corporation, or limited liability company or partnership, or other entity for whom
the Purchaser is executing this Agreement, and such individual, partnership, ward, trust, estate, corporation, or limited liability
company or partnership, or other entity has full right and power to perform pursuant to this Agreement and make an investment in
the Company, and represents that this Agreement constitutes a legal, valid and binding obligation of such entity. The execution
and delivery of this Agreement will not violate or be in conflict with any order, judgment, injunction, agreement or controlling
document to which the Purchaser is a party or by which it is bound.

 

d. The
Purchaser understands that the Shares are being offered and sold to him, her or it in reliance on specific exemptions from the
registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth
and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser
to acquire such securities. The Purchaser further acknowledges and understands that the Company is relying on the representations
and warranties made by the Purchaser hereunder and that such representations and warranties are a material inducement to the Company
to sell the Shares to the Purchaser. The Purchaser further acknowledges that without such representations and warranties of the
Purchaser made hereunder, the Company would not enter into this Agreement with the Purchaser.

 

    13

     

    

 

e. The
Purchase understands that, other than as expressly provided in the Registration Rights Agreement, the Company does not currently
intend to register the Shares under the Securities Act at any time in the future; and the undersigned will not immediately be entitled
to the benefits of Rule 144 with respect to the Shares. The Purchaser understands that no public market exists for the Company’s
Common Stock and that there can be no assurance that any public market for the Common Stock will exist or continue to exist. The
Company’s Common Stock is not approved for quotation on OTC Markets or any other quotation system or listed on any exchange.
The Company intends to cause the Common Stock to be quoted on OTC Markets QB tier as soon as practicable following the final Closing
of the Offering; however, the Company makes no representation, warranty or covenant with respect to the initiation of or continued
quotation of the Common Stock on the OTC Markets quotation or listing on any other market or exchange.

 

f. The
Purchaser has received, reviewed and understood the information about the Company, including all Disclosure Materials, and has
had an opportunity to discuss the Company’s business, management and financial affairs with the Company’s management.
The Purchaser understands that such discussions, as well as any Disclosure Materials provided by the Company, were intended to
describe the aspects of the Company’s business and prospects and the Offering which the Company believes to be material,
but were not necessarily a thorough or exhaustive description, and except as expressly set forth in this Agreement, the Company
makes no representation or warranty with respect to the completeness of such information and makes no representation or warranty
of any kind with respect to any information provided by any entity other than the Company. Some of such information may include
projections as to the future performance of the Company, which projections may not be realized, may be based on assumptions which
may not be correct and may be subject to numerous factors beyond the Company’s control. The Purchaser acknowledges that he,
she or it is not relying upon any person or entity, other than the Company and its officers and directors, in making its investment
or decision to invest in the Company. Additionally, the Purchaser understands and represents that he, she or it is purchasing the
Shares notwithstanding the fact that the Company may disclose in the future certain material information the Purchaser has not
received, including (without limitation) financial statements of the Company and/or Amesite for the current or prior fiscal periods,
and any subsequent period financial statements that will be filed with the SEC, that he, she or it is not relying on any such information
in connection with his, her or its purchase of the Shares and that he, she or it waives any right of action with respect to the
nondisclosure to him, her or it prior to his, her or its purchase of the Shares of any such information. Each Purchaser has sought
such accounting, legal and tax advice as the Purchaser has considered necessary to make an informed investment decision with respect
to his, her or its acquisition of the Shares.

 

g. The
Purchaser acknowledges that none of the Company or the Placement Agents is acting as a financial advisor or fiduciary of the Purchaser
(or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and
no investment advice has been given by the Company, the Placement Agents or any of their respective representatives or agents in
connection with the Transaction Documents and the transactions contemplated hereby and thereby. The Purchaser further represents
to the Company that the Purchaser’s decision to enter into the Transaction Documents has been based solely on the independent
evaluation by the Purchaser and the Purchaser’s representatives.

 

    14

     

    

 

h. As
of the applicable Closing, all actions on the part of Purchaser, and its officers, directors and partners, if applicable, necessary
for the authorization, execution and delivery of this Agreement and the Registration Rights Agreement and the performance of all
obligations of the Purchaser hereunder and thereunder shall have been taken, and this Agreement and the Registration Rights Agreement,
assuming due execution by the parties hereto and thereto, constitute valid and legally binding obligations of the Purchaser, enforceable
in accordance with their respective terms, subject to: (i) judicial principles limiting the availability of specific performance,
injunctive relief, and other equitable remedies and (ii) bankruptcy, insolvency, reorganization, moratorium or other similar laws
now or hereafter in effect generally relating to or affecting creditors’ rights.

 

i. Purchaser
represents that neither it nor, to its knowledge, any person or entity controlling, controlled by or under common control with
it, nor any person having a beneficial interest in the Purchaser, nor any person on whose behalf the Purchaser is acting: (i) is
a person listed in the Annex to Executive Order No. 13224 (2001) issued by the President of the United States (Executive Order
Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism); (ii) is named
on the List of Specially Designated Nationals and Blocked Persons maintained by the U.S. Office of Foreign Assets Control; (iii)
is a non-U.S. shell bank or is providing banking services indirectly to a non-U.S. shell bank; (iv) is a senior non-U.S. political
figure or an immediate family member or close associate of such figure; or (v) is otherwise prohibited from investing in the Company
pursuant to applicable U.S. anti-money laundering, anti-terrorist and asset control laws, regulations, rules or orders (categories
(i) through (v), each a “Prohibited Purchaser”). The Purchaser agrees to provide the Company, promptly
upon request, all information that the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money
laundering, anti-terrorist and asset control laws, regulations, rules and orders. The Purchaser consents to the disclosure to U.S.
regulators and law enforcement authorities by the Company and its Affiliates and agents of such information about the Purchaser
as the Company reasonably deems necessary or appropriate to comply with applicable U.S. anti-money laundering, anti-terrorist and
asset control laws, regulations, rules and orders. If the Purchaser is a financial institution that is subject to the USA Patriot
Act, the Purchaser represents that it has met all of its obligations under the USA Patriot Act. The Purchaser acknowledges that
if, following its investment in the Company, the Company reasonably believes that the Purchaser is a Prohibited Purchaser or is
otherwise engaged in suspicious activity or refuses to promptly provide information that the Company requests, the Company has
the right or may be obligated to prohibit additional investments, segregate the assets constituting the investment in accordance
with applicable regulations or immediately require the Purchaser to transfer the Shares. The Purchaser further acknowledges that
neither the Purchaser nor any of the Purchaser’s Affiliates or agents will have any claim against the Company or Amesite
for any form of damages as a result of any of the foregoing actions.

 

j. If
the Purchaser is Affiliated with a non-U.S. banking institution (a “Foreign Bank”), or if the Purchaser
receives deposits from, makes payments on behalf of, or handles other financial transactions related to a Foreign Bank, the Purchaser
represents and warrants to the Company that: (1) the Foreign Bank has a fixed address, other than solely an electronic address,
in a country in which the Foreign Bank is authorized to conduct banking activities; (2) the Foreign Bank maintains operating records
related to its banking activities; (3) the Foreign Bank is subject to inspection by the banking authority that licensed the Foreign
Bank to conduct banking activities; and (4) the Foreign Bank does not provide banking services to any other Foreign Bank that does
not have a physical presence in any country and that is not a regulated Affiliate.

 

k. The
Purchaser or its duly authorized representative realizes that because of the inherently speculative nature of businesses of the
kind conducted and contemplated by the Company, the Company’s financial results may be expected to fluctuate from month to
month and from period to period and will, generally, involve a high degree of financial and market risk that could result in substantial
or, at times, even total losses for investors in securities of the Company. The Purchaser has carefully read the risk factors and
other information (including the financial statements of Amesite) included in the Super 8-K. The Purchaser has carefully considered
such risk factors before deciding to invest in the Shares.

 

    15

     

    

 

l. The
Purchaser has adequate means of providing for its current and anticipated financial needs and contingencies, is able to bear the
economic risk for an indefinite period of time and has no need for liquidity of the investment in the Shares and could afford complete
loss of such investment. 

 

m. The
Purchaser is not subscribing for Shares as a result of or subsequent to any advertisement, article, notice or other communication,
published in any newspaper, magazine or similar media or broadcast over television, radio, or the internet, or presented at any
seminar or meeting, or any solicitation of a subscription by a person not previously known to the Purchaser in connection with
investments in securities generally. 

 

n. The
Purchaser acknowledges that no U.S. federal or state agency or any other government or governmental agency has passed upon the
Shares or made any finding or determination as to the fairness, suitability or wisdom of any investments therein.

 

o. Other
than consummating the transactions contemplated hereunder, the Purchaser has not directly or indirectly, nor has any individual
or entity acting on behalf of or pursuant to any understanding with such Purchaser, executed any purchases or sales, including
Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received a
term sheet (written or oral) from the Company or any other individual or entity representing the Company setting forth the material
terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Notwithstanding the foregoing,
in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate portions
of such Purchaser’s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio
managers managing other portions of such Purchaser’s assets, the representation set forth above shall only apply with respect
to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Shares covered by this
Agreement. Other than to other individuals or entities party to this Agreement, such Purchaser has maintained the confidentiality
of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). Notwithstanding
the foregoing, for avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any
actions, with respect to the identification of the availability of, or securing of, available shares to borrow in order to effect
Short Sales or similar transactions in the future. For purposes of this Agreement, “Short Sales” means
all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to include
the location and/or reservation of borrowable shares of Common Stock).

 

p. The
Purchaser agrees to be bound by all of the terms and conditions of the Registration Rights Agreement and to perform all obligations
thereby imposed upon it.

 

q. The
Purchaser is aware that the anti-manipulation rules of Regulation M under the Exchange Act may apply to sales of the Shares and
other activities with respect to the Shares by the Purchaser.

 

r. All
of the information concerning the Purchaser set forth herein, and any other information furnished by the Purchaser in writing to
the Company or a Placement Agent for use in connection with the transactions contemplated by this Agreement, is true, correct and
complete in all material respects as of the date of this Agreement, and, if there should be any material change in such information
prior to the Purchaser’s purchase of the Shares, the Purchaser will promptly furnish revised or corrected information to
the Company. 

 

    16

     

    

 

s. The
Purchaser has reviewed with its own tax advisors the U.S. federal, state, local and foreign tax consequences of this investment
and the transactions contemplated by the Transaction Documents. With respect to such matters, such Purchaser relies solely on such
advisors and not on any statements or representations of the Company or any of its agents, written or oral. The Purchaser understands
that it (and not the Company) shall be responsible for its own tax liability that may arise as a result of this investment or the
transactions contemplated by the Transaction Documents.

 

t. If
the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended),
the Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
with any invitation to subscribe for the Shares or any use of this Agreement, including (a) the legal requirements within
its jurisdiction for the purchase of the Shares; (b) any foreign exchange restrictions applicable to such purchase; (c) any
governmental or other consents that may need to be obtained; and (d) the income tax and other tax consequences, if any, that
may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. The Purchaser’s subscription and payment
for and continued beneficial ownership of the Shares will not violate any applicable securities or other laws of the Purchaser’s
jurisdiction.

 

u.
(For ERISA plans only)  The fiduciary of the Employee Retirement Income Security Act of 1974 (“ERISA”)
plan (the “Plan”) represents that such fiduciary has been informed of and understands the Company’s
investment objectives, policies and strategies, and that the decision to invest “plan assets” (as such term is defined
in ERISA) in the Company is consistent with the provisions of ERISA that require diversification of plan assets and impose other
fiduciary responsibilities. The Purchaser fiduciary or Plan (a) is responsible for the decision to invest in the Company; (b) is
independent of the Company or any of its Affiliates; (c) is qualified to make such investment decision; and (d) in making such
decision, the Purchaser fiduciary or Plan has not relied primarily on any advice or recommendation of the Company or any of its
Affiliates.

 

v. Neither
the Purchaser nor, to the Purchaser’s knowledge, any of its directors, executive officers, other officers that may serve
as a director or officer of any company in which it invests, general partners or managing members is subject to any Disqualification
Events, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) under the Securities Act, and disclosed
in writing in reasonable detail to the Company.

 

w. The
Purchaser understands that there are substantial restrictions on the transferability of the Shares and that the certificates representing
the Shares shall bear a restrictive legend in substantially the following form (and a stop-transfer order may be placed against
transfer of such certificates or other instruments):

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN
MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE
UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY
RECEIVES AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY
BE OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS OR (3) SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

 

    17

     

    

 

In
addition, if any Purchaser is an Affiliate of the Company, certificates evidencing the Shares issued to such Purchaser may bear
a customary “Affiliates” legend.

 

The
Company shall be obligated to promptly reissue unlegended certificates upon the request of any holder thereof (x) at such time
as the holding period under Rule 144 or another applicable exemption from the registration requirements of the Securities Act has
been satisfied or (y) at such time as a registration statement is available for the transfer of the Shares.
The Company is entitled to request from any holder requesting unlegended certificates under clause (x) of the foregoing sentence
an opinion of counsel reasonably acceptable to the Company to the effect that the securities proposed to be disposed of may lawfully
be so disposed of without registration, qualification or legend.

 

x. If
the Purchaser is an individual, then the Purchaser resides in the state or province identified in the address of the Purchaser
set forth on such Purchaser’s Omnibus Signature Page to this Agreement; if the Purchaser is a partnership, corporation, limited
liability company or other entity, then the office or offices of the Purchaser in which its principal place of business is identified
in the address or addresses of the Purchaser set forth on such Purchaser’s Omnibus Signature Page to this Agreement.

 

y. Each
Purchaser understands that the Company prior to the Merger was a “shell company” as defined in Rule 12b-2 under the
Exchange Act, and that upon filing with the SEC of the Super 8-K reporting the consummation of the Merger and related transactions
and the transactions contemplated by this Agreement, and otherwise containing “Form 10 information” discussed below,
the Company will reflect therein that it is no longer a shell company. Pursuant to Rule 144(i), securities issued by a current
or former shell company (that is, the Shares) that otherwise meet the holding period and other requirements of Rule 144 nevertheless
cannot be sold in reliance on Rule 144 until one year after the Company (a) is no longer a shell company; and (b) has filed
current “Form 10 information“ (as defined in Rule 144(i)) with the SEC reflecting that it is no longer a shell company,
and provided that at the time of a proposed sale pursuant to Rule 144, the Company is subject to the reporting requirements of
Section 13 or 15(d) of the Exchange Act and has filed all reports and other materials required to be filed by Section 13 or 15(d)
of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to
file such reports and materials), other than Form 8-K reports. As a result, the restrictive legends on certificates for the
Shares cannot be removed except in connection with an actual sale meeting the foregoing requirements or pursuant to an effective
registration statement. 

 

z. Each
Purchaser purchasing Shares in any Subsequent Closing represents that it (1) has a substantive, pre-existing relationship with
the Company or (2) has direct contact by the Company or its Placement Agents outside of the Offering and (3) was not identified
or contacted through the marketing of the public offering and (4) did not independently contact the issuer as a result of general
solicitation by means of the Super 8-K or any press release or any other public disclosure disclosing the material terms of the
Offering.

 

    18

     

    

 

aa. To effectuate
the terms and provisions hereof, the Purchaser hereby appoints PA as its attorney-in-fact (and PA hereby accepts such
appointment) for the purpose of carrying out the provisions of the Escrow Agreement by and between the Company, PA and Signature
Bank (the “Escrow Agreement”) including, without limitation, taking any action on behalf of, or at the
instruction of, the Purchaser and executing any release notices required under the Escrow Agreement and taking any action and executing
any instrument that PA may deem necessary or advisable (and lawful) to accomplish the purposes hereof. All acts done under
the foregoing authorization are hereby ratified and approved and neither PA nor any designee nor agent thereof shall be liable
for any acts of commission or omission, for any error of judgment, for any mistake of fact or law except for acts of gross negligence
or willful misconduct. This power of attorney, being coupled with an interest, is irrevocable while the Escrow Agreement remains
in effect.

 

bb. The Company’s
transfer agent (the “Transfer Agent”) is a participant in and the Common Stock is eligible for transfer
pursuant to the Depository Trust Company Automated Securities Transfer Program.

 

cc. The Common Stock
is registered pursuant to Section 12(g) of the Exchange Act, and the Company has taken no action designed to, or which to its knowledge
is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received
any notification that the SEC is contemplating terminating such registration.

 

5. Conditions
to Company’s Obligations at the applicable Closing.  The Company’s obligation to complete the sale
and issuance of the Shares and deliver the Shares to each Purchaser, individually, at the applicable Closing shall be subject to
the following conditions to the extent not waived by the Company:

 

a. Receipt
of Payment.  The Company shall have received payment, by certified or other bank check or by wire transfer of immediately
available funds, in the full amount of the purchase price for the number of Shares being purchased by such Purchaser at such Closing.

 

b. Representations
and Warranties.  The representations and warranties made by the Purchaser in Section 4 hereof and each Purchaser
in Section 4 (or the equivalent Section) of the applicable Subscription Agreement with respect to such Closing shall be true and
correct in all respects when made, and shall be true and correct in all respects on the applicable Closing date with the same force
and effect as if they had been made on and as of said date.

 

c. Performance.
The Purchaser shall have performed in all material respects all obligations and covenants herein required to be performed by it
on or prior to the applicable Closing.

 

d. Receipt
of Executed Documents.  Each Purchaser participating in such Closing shall have executed and delivered to the Company
the Omnibus Signature Page, the Purchaser Questionnaire and the Selling Securityholder Questionnaire (as defined in the Registration
Rights Agreement).

 

e. Effectiveness
of the Merger.  The Merger shall have been effected.

 

f. Minimum
Offering. In connection with the Initial Closing Only, the Initial Closing shall be at least for the number of shares
of Common Stock in the Minimum Offering Amount at the Purchase Price.

 

    19

     

    

 

g. Lock-Up
Agreements.  In connection with the Initial Closing only, (a) all officers and directors of the Company appointed
in connection with the Merger, (b) key employees, agreed to by the Company and Amesite, if any; and (c) all persons holding in
the aggregate 5% or more of the Merger Shares issued in exchange for the equity securities of Amesite in the Merger (each a “Restricted
Holder” and, collectively, the “Restricted Holders”) shall have entered into agreements
with the Company for a term of twenty-four months, whereby they will agree to certain restrictions on the sale or disposition (including
pledge) of all of the Company’s Common Stock held by (or issuable to) them on the date of the Initial Closing, excluding
any shares purchased by them in the Offering. The lock-ups will contain customary transfer exceptions.

 

h. Qualifications.  All
authorizations, approvals or permits, of any governmental authority or regulatory body of the United States or of any state that
are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement at each Closing shall be
obtained and effective as of such Closing except for Blue Sky law permits and qualifications that may be properly obtained after
such Closing.

 

6. Conditions
to Purchasers’ Obligations at the applicable Closing. Each Purchaser’s obligation to accept delivery of the
Shares and to pay for the Shares at the applicable Closing shall be subject to the following conditions to the extent not waived
by the holders of at least a majority of the Shares to be purchased at such Closing and the Placement Agents on behalf of the Purchasers
at the applicable Closing:

 

a. Representations
and Warranties.  The representations and warranties made by the Company in Section 3 hereof (as modified by the disclosures
on the Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the heading “Risk Factors”
and any disclosure of risks included in any “forward-looking statements” disclaimer or in any other section to the
extent they are forward-looking statements or cautionary, predictive or forward-looking in nature) shall be true and correct in
all material respects (except to the extent any such representation and warranty is qualified by materiality or reference to Material
Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects as so qualified) as of,
and as if made on, the date of this Agreement and as of such 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 in all material respects
correct as of such earlier date (except in each case to the extent any such representation and warranty is qualified by materiality
or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects
as so qualified).

 

b. Performance.
The Company shall have performed in all material respects all obligations and covenants herein required to be performed by it on
or prior to the applicable Closing.

 

c. Receipt
of Executed Transaction Documents.  In connection with the Initial Closing only, the Company shall have executed
and delivered to the Placement Agents the Registration Rights Agreement and the Escrow Agreement.

 

d. Effectiveness
of the Merger.  The Merger shall have been effected.

 

e. Minimum
Offering.  In connection with the Initial Closing only, the Initial Closing shall be at least for the number of shares
of Common Stock in the Minimum Offering Amount at the Purchase Price.

 

f. Certificate.  In
connection with the Initial Closing, the Chief Executive Officer of the Company shall execute and deliver to the Placement Agents
a certificate addressed to the Purchasers to the effect that the representations and warranties of the Company in Section 3 hereof
(as modified by the disclosures on the Disclosure Schedule or the Super 8-K (but excluding any disclosures contained under the
heading “Risk Factors” and any disclosure of risks included in any “forward-looking statements” disclaimer
or in any other section to the extent they are forward-looking statements or cautionary, predictive or forward-looking in nature)
shall be true and correct in all material respects (except to the extent any such representation and warranty is qualified by materiality
or reference to Material Adverse Effect, in which case, such representation and warranty shall be true and correct in all respects
as so qualified) as of, and as if made on, the date of the Initial Closing.

 

    20

     

    

 

g. Good
Standing.  The Company and each of its subsidiaries is a corporation or other business entity duly organized, validly
existing, and in good standing under the laws of the jurisdiction of its formation.

 

h. Judgments.  No
judgment, writ, order, injunction, award or decree of or by any court, or judge, justice or magistrate, including any bankruptcy
court or judge, or any order of or by any Governmental Authority, shall have been issued, and no action or proceeding shall have
been instituted by any Governmental Authority, enjoining or preventing the consummation of the transactions contemplated hereby.

 

i. Lock-Up
Agreements.  In connection with the Initial Closing only, each of the agreements required by Section 5(g) hereto
shall have been executed by the persons referred to therein and delivered to the Company.

 

j. Delivery
of Draft of Super 8-K.  A substantially complete draft of the Super 8-K, including audited financial statements of
Amesite and pro forma financial statements reflecting the Merger, all compliant with applicable SEC regulations for inclusion under
Item 2.01(f) and/or 5.01(a)(8) of SEC Form 8-K, shall have been delivered to the Placement Agents on behalf of the Purchasers.

 

k. Legal
Opinion. Legal counsel for the Company shall deliver an opinion to Purchaser and the Placement Agents, dated as of the Initial
Closing, in form and substance reasonably acceptable to the Placement Agents.

 

l. Issuance
in Compliance with Laws. The sale and issuance of the Shares shall be legally permitted by all laws and regulations to which
the Company is subject.

 

m. No
Material Adverse Effect. Since the date hereof, there shall not have occurred any effect, event, condition or circumstance
(including, without limitation, the initiation of any litigation or other legal, regulatory or investigative proceeding) that individually
or in the aggregate, with or without the passage of time, the giving of notice, or both, that has had, or could reasonably be expected
to have, a Material Adverse Effect or which could adversely affect the Company’s ability to perform its respective obligations
under this Agreement or any of the other Transaction Documents.

 

n. Updated
Disclosures. As to any Subsequent Closing, the Company must have delivered to the Purchasers an updated set of schedules in
accordance with Section 5.1.1 and such updated schedules do not reveal any information or the occurrence, since the Initial Closing
Date, of any effect, event, condition or circumstance, which individually, or in the aggregate, has had or could reasonably be
expected to have, a Material Adverse Effect and do not include any state of facts that occur as a result of the breach by the Company
of any of its obligations under this Agreement or any of the other Transaction Documents.

 

    21

     

    

 

7. Indemnification.

 

a. The
Company agrees to indemnify and hold harmless the Purchaser, and its directors, officers, stockholders, members, partners, employees
and agents (and any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of
such title or any other title), each person who controls such Purchaser (within the meaning of Section 15 of the Securities Act
and Section 20 of the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and
any other persons with a functionally equivalent role of a person holding such titles notwithstanding a lack of such title or any
other title) of such controlling person (collectively, the “Purchaser Indemnitees”), from and against
all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses
incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon or arising out of
the Company’s breach of any representation, warranty or covenant contained herein; provided, however, that the Company will
not be liable in any such case to the extent and only to the extent that any such loss, liability, claim, damage, cost, fee or
expense arises out of or is based upon the inaccuracy of any representations made by such indemnified party in this Agreement,
or the failure of such indemnified party to comply with the covenants and agreements contained herein. The liability of the Company
under this paragraph shall not exceed the total Purchase Price paid by the Purchaser hereunder, except in the case of fraud.

 

b. Promptly
after receipt by an indemnified party under this Section 7 of notice of the commencement of any Action, such indemnified party
will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the indemnifying
party in writing of the commencement thereof; but the omission so to notify the indemnifying party will not relieve it from any
liability which it may have to any indemnified party otherwise than under this Section 7 except to the extent the indemnified party
is actually prejudiced by such omission. In case any such Action is brought against any indemnified party, and it notifies the
indemnifying party of the commencement thereof, the indemnifying party will be entitled to participate therein, and to the extent
that it may elect by written notice delivered to the indemnified party promptly after receiving the aforesaid notice from such
indemnified party, to assume the defense thereof, with counsel satisfactory to such indemnified party; provided, however, if the
defendants in any such Action include both the indemnified party and the indemnifying party and either (i) the indemnifying party
or parties and the indemnified party or parties mutually agree or (ii) representation of both the indemnifying party or parties
and the indemnified party or parties by the same counsel is inappropriate under applicable standards of professional conduct due
to actual or potential differing interests between them, the indemnified party or parties shall have the right to select separate
counsel to assume such legal defenses and to otherwise participate in the defense of such Action on behalf of such indemnified
party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of its election so to assume the
defense of such Action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified
party under this Section 7 for any reasonable legal or other expenses subsequently incurred by such indemnified party in connection
with the defense thereof unless (i) the indemnified party shall have employed counsel in connection with the assumption of legal
defenses in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party
shall not be liable for the expenses of more than one separate counsel in such circumstance), (ii) the indemnifying party shall
not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after
notice of commencement of the Action or (iii) the indemnifying party has authorized the employment of counsel for the indemnified
party at the expense of the indemnifying party. No indemnifying party shall (i) without the prior written consent of the indemnified
parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any judgment with respect
to any pending or threatened Action in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified parties are actual or potential parties to such Action) unless such settlement, compromise or consent requires
only the payment of money damages, does not subject the indemnified party to any continuing obligation or require any admission
of criminal or civil responsibility, and includes an unconditional release of each indemnified party from all liability arising
out of such Action, or (ii) be liable for any settlement of any such Action effected without its written consent (which consent
shall not be unreasonably withheld), but if settled with its written consent or if there be a final judgment of the plaintiff in
any such Action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or
liability by reason of such settlement or judgment. 

 

    22

     

    

 

c. Purchaser
acknowledges on behalf of itself and each Purchaser Indemnitee that, other than for actions seeking specific performance of the
obligations under this Agreement or in the case of fraud, the sole and exclusive remedy of the Purchaser and the Purchaser Indemnitee
with respect to any and all claims relating to this Agreement shall be pursuant to the indemnification provisions set forth in
this Section 7. 

 

8. Revocability;
Binding Effect.  The subscription hereunder may be revoked prior to the Closing thereon, provided that written
notice of revocation is sent and is received by the Company or a Placement Agent at least one Business Day prior to the applicable
Closing on such subscription. The Purchaser hereby acknowledges and agrees that this Agreement shall survive the death or disability
of the Purchaser and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators,
successors, legal representatives and permitted assigns. If the Purchaser is more than one person, the obligations of the Purchaser
hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein shall be deemed
to be made by and be binding upon each such person and such person’s heirs, executors, administrators, successors, legal
representatives and permitted assigns. For the purposes of this Agreement, “Business Day” means a day,
other than a Saturday or Sunday, on which banks in New York City are open for the general transaction of business.

 

9. Miscellaneous.

 

a. Modification.  This
Agreement shall not be amended, modified or waived except by an instrument in writing signed by the Company and the holders of
at least a majority of the then held Shares. Any amendment, modification or waiver effected in accordance with this Section 9(a)
shall be binding upon the Purchaser and each transferee of the Shares, each future holder of all such Shares, and the Company.

 

b. Immaterial
Modifications to the Registration Rights Agreement.  The Company and the Placement Agents may, at any time prior
to the Initial Closing, amend the Registration Rights Agreement if necessary to clarify any provision therein, without first providing
notice or obtaining prior consent of the Purchaser.

 

c. Third-Party
Beneficiary.  The Placement Agents shall be express third party beneficiaries of the representations and warranties
included in Sections 3 and 4 of this Agreement. This Agreement is intended for the benefit of the parties hereto and their respective
successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person,
except as otherwise set forth in Section 7 and this Section 9(c).

 

d. Notices.  Any
notice, consents, waivers or other communication required or permitted to be given hereunder shall be in writing and will be deemed
to have been delivered: (i) upon receipt, when personally delivered; (ii) upon receipt when sent by certified mail, return receipt
requested, postage prepaid; (iii) upon receipt, when sent by facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party; (iv) when sent, if by e-mail, (provided that such sent e-mail is
kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically
generated message from the recipient’s e-mail server that such e-mail could not be delivered to such recipient); or (v) one
(1) Business Day after deposit with an overnight courier service with next day delivery specified, in each case, properly addressed
to the party to receive the same. The addresses, facsimile numbers and email addresses for such communications shall be:

 

		(a)	if to the Company, at

 

Lola One Acquisition
Corporation (to be renamed Amesite Inc.)

205 East Washington Street

Suite B

Ann Arbor, Michigan 48104

Attn: Ann Marie Sastry, CEO

Facsimile: N/A

Email: ams@amesite.com

 

    23

     

    

 

with copies (which
shall not constitute notice) to:

 

Mitchell Silberberg & Knupp, LLP

11377 W. Olympic Boulevard

Los Angeles, California 90064

Attn: Nimish Patel, Esq.

Facsimile: 310.231.8302

Email: nxp@msk.com

 

Ogawa Professional Corporation

313 Bryant Court

Palo Alto, California 94301

Attn: Richard Ogawa, Esq.

Email: richard@rtogawa.com

 

Dorsey & Whitney LLP

1400 Wewatta Street

Suite 400

Denver, Colorado 80202-5549

Attn: Anthony W. Epps, Esq.

Email: epps.anthony@dorsey.com

 

or

 

		(b)	if to the Purchaser, at the address set forth on the Omnibus Signature Page hereof

 

(or, in either
case, to such other address as the party shall have furnished in writing in accordance with the provisions of this Section). Any
notice or other communication given by certified mail shall be deemed given at the time of certification thereof, except for a
notice changing a party’s address which shall be deemed given at the time of receipt thereof.

 

e. Assignability.  This
Agreement and the rights, interests and obligations hereunder are not transferable or assignable by the Purchaser, and the transfer
or assignment of the Shares shall be made only in accordance with all applicable laws.

 

f. Applicable
Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of New York,
without reference to the principles thereof relating to the conflict of laws.

 

    24

     

    

 

g. Arbitration. 
All disputes arising out of or in connection with this Agreement shall be submitted to the International Court of Arbitration of
the International Chamber of Commerce and shall be finally settled under the Rules of Arbitration of the International Chamber
of Commerce by one or more arbitrators appointed in accordance with the said Rules. The place of arbitration shall be New York,
New York.

 

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

 

i. Use
of Pronouns.  All pronouns and any variations thereof used herein shall be deemed to refer to the masculine,
feminine, neuter, singular or plural as the identity of the person or persons referred to may require.

 

j. Securities
Law Disclosure; Publicity.   By 9:00 a.m., New York City time, on the trading day immediately following the
Initial Closing, the Company shall issue a press release (the “Press Release”) disclosing all material
terms of the Offering. The Company will also file the Super 8-K (and including as exhibits to such Super 8-K, the material Transaction
Documents (including, without limitation, this Agreement and the Registration Rights Agreement)) as soon as practicable following
the closing date of the Merger but in no event more than four (4) Business Days following the closing date of the Merger. Notwithstanding
the foregoing, the Company shall not publicly disclose the name of any Purchaser or an Affiliate of any Purchaser, or include the
name of any Purchaser or an Affiliate of any Purchaser in any press release or filing with the SEC (other than the Registration
Statement) or any regulatory agency or principal trading market, without the prior written consent of such Purchaser, except (i)
as required by federal securities law in connection with (A) any registration statement contemplated by the Registration Rights
Agreement and (B) the filing of final Transaction Documents with the SEC or (ii) to the extent such disclosure is required by law,
request of the staff of the SEC or of any regulatory agency or principal trading market regulations, in which case the Company
shall provide the Purchasers with prior written notice of such disclosure permitted under this sub-clause (ii). From and after
the issuance of the Press Release, no Purchaser shall be in possession of any material, non-public information received from the
Company or any of its respective officers, directors, employees or agents that is not disclosed in the Press Release unless a Purchaser
shall have executed a written agreement regarding the confidentiality and use of such information. Each Purchaser, severally and
not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly
disclosed by the Company as described in this Section 9, such Purchaser will maintain the confidentiality of all disclosures made
to it in connection with such transactions (including the existence and terms of such transactions).

 

k. Non-Public
Information.  Except for information (including the terms of this Agreement and the transactions contemplated
hereby) that will be disclosed in the Super 8-K and filed with the SEC within four (4) Business Days of the Initial Closing, the
Company shall not and shall cause each of its officers, directors, employees and agents, not to, provide any Purchaser with any
material, non-public information regarding the Company without the express written consent of such Purchaser.

 

l. This
Agreement, together with the Registration Rights Agreement, and all exhibits, schedules and attachments hereto and thereto and
any confidentiality agreement between the Purchaser and the Company, constitute the entire agreement between the Purchaser and
the Company with respect to the Offering and supersede all prior oral or written agreements and understandings, if any, relating
to the subject matter hereof. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the benefits of such terms or provisions.

 

    25

     

    

 

m. If
the Shares are certificated and any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the
Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution
therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company and the Transfer
Agent of such loss, theft or destruction and the execution by the holder thereof of a customary lost certificate affidavit of that
fact and an agreement to indemnify and hold harmless the Company and the Transfer Agent for any losses in connection therewith
or, if required by the Transfer Agent, a bond in such form and amount as is required by the Transfer Agent. The applicants for
a new certificate or instrument under such circumstances shall also pay any reasonable third-party costs associated with the issuance
of such replacement Shares. If a replacement certificate or instrument evidencing any Shares is requested due to a mutilation thereof,
the Company may require delivery of such mutilated certificate or instrument as a condition precedent to any issuance of a replacement.

 

n. Each
of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others
engaged by such party) in connection with this Agreement and the transactions contemplated hereby, whether or not the transactions
contemplated hereby are consummated. The Company shall pay all expenses and fees of its counsel in connection with the issuance
of an opinion to the Transfer Agent for the removal of any legend on the Shares.

 

o. This
Agreement may be executed in one or more original or facsimile or by an e-mail which contains a portable document format (.pdf)
file of an executed signature page counterparts, each of which shall be deemed an original, but all of which shall together constitute
one and the same instrument and which shall be enforceable against the parties actually executing such counterparts. The exchange
of copies of this Agreement and of signature pages by facsimile transmission or in .pdf format shall constitute effective execution
and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes. Signatures
of the parties transmitted by facsimile or by e-mail of a document in pdf format shall be deemed to be their original signatures
for all purposes.

 

p. Each
provision of this Agreement shall be considered separable and, if for any reason any provision or provisions hereof are determined
to be invalid or contrary to applicable law, such invalidity or illegality shall not impair the operation of or affect the remaining
portions of this Agreement.

 

q. Paragraph
titles are for descriptive purposes only and shall not control or alter the meaning of this Agreement as set forth in the text.

 

r. The
Purchaser understands and acknowledges that there may be multiple Closings for the Offering. 

 

s. The
Purchaser hereby agrees to furnish the Company such other information as the Company may request prior to the applicable Closing
with respect to its subscription hereunder.

 

t. The
representations and warranties of the Company and each Purchaser contained in or made pursuant to this Agreement shall survive
the execution and delivery of this Agreement for a period of one (1) year from the date of the Initial Closing and shall in no
way be affected by any investigation or knowledge of the subject matter thereof made by or on behalf of the Purchasers or the Company.

 

    26

     

    

 

u. Omnibus
Signature Page.  This Agreement is intended to be read and construed in conjunction with the Registration
Rights Agreement. Accordingly, pursuant to the terms and conditions of this Agreement and the Registration Rights Agreement, it
is hereby agreed that the execution by the Purchaser of this Agreement, in the place set forth on the Omnibus Signature Page below,
shall constitute agreement to be bound by the terms and conditions hereof and the terms and conditions of the Registration Rights
Agreement, with the same effect as if each of such separate but related agreement were separately signed.

 

v. Public
Disclosure.  Neither the Purchaser nor any officer, manager, director, member, partner, stockholder, employee,
Affiliate, Affiliated person or entity of the Purchaser shall make or issue any press releases or otherwise make any public statements
or make any disclosures to any third person or entity with respect to the transactions contemplated herein and will not make or
issue any press releases or otherwise make any public statements of any nature whatsoever with respect to the Company without the
Company’s express prior approval (which may be withheld in the Company’s sole discretion), except to the extent such
disclosure is required by law, request of the staff of the SEC or of any regulatory agency or principal trading market regulations.

 

w. Potential
Conflicts.  The Placement Agents, their sub-agents, legal counsel to the Company, the Placement Agents or
Amesite and/or their respective Affiliates, principals, representatives or employees may now or hereafter own shares of the Company.

 

x. Independent
Nature of Each Purchaser’s Obligations and Rights.  For avoidance of doubt, the obligations of the Purchaser
under this Agreement are several and not joint with the obligations of any other Purchaser, and the Purchaser shall not be responsible
in any way for the performance of the obligations of any other Purchaser under any other Subscription Agreement. Nothing contained
herein and no action taken by the Purchaser shall be deemed to constitute the Purchaser as a partnership, an association, a joint
venture, or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group
with respect to such obligations or the transactions contemplated by this Agreement and any other Subscription Agreements. The
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.

 

y. Waiver
of Conflicts. Each party to this Agreement acknowledges that Mitchell Silberberg & Knupp LLP (“MSK”)
has in the past performed and may continue to perform legal services for certain of the Purchasers in matters unrelated to the
transactions described in this Agreement, including financings and other matters.  Accordingly, each party to this Agreement
hereby (a) acknowledges that they have had an opportunity to ask for information relevant to this disclosure; (b) acknowledges
that MSK represented the Company and Amesite in the transaction contemplated by this Agreement and has not represented any individual
Purchaser in connection with such transaction; and (c) gives its informed consent to MSK’s representation of certain
of the Purchasers in such unrelated matters and to MSK’s representation of the Company and Amesite in connection with this
Agreement and the transactions contemplated hereby. Further, each party to this Agreement hereby acknowledges that MSK anticipates
that it will advise the Company following the Merger.

 

[Signature page follows.]

 

    27

     

    

 

IN WITNESS WHEREOF, the Company has duly executed this Agreement
as of the ____ day of _________, 2018.

 

	 	Lola One Acquisition Corporation 
	 	(to be renamed “Amesite Inc.”)
	 	 	 
	 	By:	             
	 	Name:
	 	Title:

 

 

     

     

    

 

How to subscribe for Shares in the private
offering of

Lola One Acquisition Corporation (to
be renamed Amesite Inc.)

 

		1.	Complete, Sign and Date the Omnibus Signature Page for the Subscription Agreement
and Registration Rights Agreement.

 

		2.	Initial the Accredited Investor Certification in the appropriate place or
places.

 

		3.	Complete and sign the Investor Profile.

 

		4.	Review the Anti Money Laundering Requirements summary.

 

		5.	Complete and sign the Selling Securityholder Notice and Questionnaire attached
hereto as Annex A.

 

		6.	Email all completed forms to your broker.

 

		7.	If you are paying the Purchase Price by check,
a certified or other bank check for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing
should be made payable to the order of “Signature Bank, as Escrow Agent for Lola One Acquisition Corporation ”
and should be sent directly to the Placement Agent.

 

Checks
take up to 5 business days to clear. A check must be received by the Escrow Agent at least 6 business days before the closing
date.

 

		8.	If you are paying the Purchase Price by wire transfer, you should send a wire transfer
for the exact dollar amount of the Purchase Price for the number of Shares you are purchasing according to the following instructions:

 

		Bank Name:	Signature Bank

		Bank Address:	**********

		Acct. Name:	Signature Bank as Escrow Agent for Lola One Acquisition
Corp.

		ABA Number:	**********

		A/C Number:	**********

		Swift Code:	**********

		FBO:	Purchaser Name

			Social Security Number

			Address

 

     

     

    

 

LOLA ONE ACQUISITION CORPORATION (to
be renamed Amesite Inc.)

OMNIBUS SIGNATURE PAGE TO

SUBSCRIPTION AGREEMENT AND REGISTRATION
RIGHTS AGREEMENT

 

The undersigned, desiring to: (i) enter
into the Subscription Agreement, dated as of ____________ ___,1
2018 (the “Subscription Agreement”), between the undersigned, Lola One Acquisition Corporation (to
be renamed Amesite Inc.) a Delaware corporation (the “Company”), and the other parties thereto, in
or substantially in the form furnished to the undersigned, (ii) enter into the Registration Rights Agreement (the “Registration
Rights Agreement”), among the undersigned, the Company and the other parties thereto, in or substantially in the
form furnished to the undersigned and (iii) purchase the Shares of the Company’s securities as set forth in the Subscription
Agreement and below, hereby agrees to purchase such Shares from the Company and further agrees to join the Subscription Agreement
and the Registration Rights Agreement as a party thereto, with all the rights and privileges appertaining thereto, and to be bound
in all respects by the terms and conditions thereof. The undersigned specifically acknowledges having read the representations
section in the Subscription Agreement entitled “Representations and Warranties of the Purchaser” and hereby represents
that the statements contained therein are complete and accurate with respect to the undersigned as a Purchaser.

 

IN WITNESS WHEREOF, the Purchaser hereby
executes the Subscription Agreement and the Registration Rights Agreement.

 

Dated: ________________, 2018

 

	 	X	$	1.50	=	$	 
	Number of Shares	 	 	Purchase Price per Share	 	 	Total Purchase Price

 

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

 

 

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

 

     

     

    

 

LOLA ONE ACQUISITION CORPORATION (to
be renamed AMESITE INC.)

ACCREDITED INVESTOR CERTIFICATION

 

For Individual Investors Only

 

(all Individual Investors
must INITIAL where appropriate):

 

		Initial _______	I have a net worth of at least US$1 million either individually
or through aggregating my individual holdings and those in which I have a joint, community property or other similar shared ownership
interest with my spouse. (For purposes of calculating your net worth under this paragraph, (a) your primary residence
shall not be included as an asset; (b) indebtedness secured by your primary residence, up to the estimated fair market value
of your primary residence at the time of your purchase of the securities, shall not be included as a liability (except that if
the amount of such indebtedness outstanding at the time of your purchase of the securities exceeds the amount outstanding 60 days
before such time, other than as a result of the acquisition of your primary residence, the amount of such excess shall be included
as a liability); and (c) indebtedness that is secured by your primary residence in excess of the estimated fair market value of
your primary residence at the time of your purchase of the securities shall be included as a liability.)

 

		Initial _______	I have had an annual gross income for the past two years
of at least US$200,000 (or US$300,000 jointly with my spouse) and expect my income (or joint income, as appropriate) to reach
the same level in the current year.

 

		Initial _______	I am a director or executive
officer of Amesite Inc. or Lola One Acquisition Corporation.

 

 

For Non-Individual
Investors (Entities)

 

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

 

		Initial _______	The investor certifies that it is a partnership, corporation,
limited liability company or business trust that is 100% owned by persons who meet at least one of the criteria for Individual
Investors set forth above (in which case each such person must complete the Accreditor Investor Certification for Individuals
above as well the remainder of this questionnaire) .

 

		Initial _______	The investor certifies that it is a partnership, corporation,
limited liability company or business trust that has total assets of at least US$5 million and was not formed for the purpose
of investing the Company.

 

		Initial _______	The investor certifies that it is an employee benefit plan
whose investment decision is made by a plan fiduciary (as defined in ERISA §3(21)) that is a bank, savings and loan association,
insurance company or registered investment advisor.

 

		Initial _______	The investor certifies that it is an employee benefit plan
whose total assets exceed US$5,000,000 as of the date of this Agreement.

 

		Initial _______	The undersigned certifies that it is a self-directed employee
benefit plan whose investment decisions are made solely by persons who meet at least one of the criteria for Individual Investors.

 

		Initial _______	The investor certifies that it is a U.S. bank, U.S. savings
and loan association or other similar U.S. institution acting in its individual or fiduciary capacity.

 

		Initial _______	The undersigned certifies that it is a broker-dealer registered
pursuant to §15 of the Securities Exchange Act of 1934.

 

		Initial _______	The investor certifies that it is an organization described
in §501(c)(3) of the Internal Revenue Code with total assets exceeding US$5,000,000 and not formed for the specific purpose
of investing in the Company.

 

		Initial _______	The investor certifies that it is a trust with total assets
of at least US$5,000,000, not formed for the specific purpose of investing in the Company, and whose purchase is directed by a
person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits
and risks of the prospective investment.

 

		Initial _______	The investor certifies that it is a plan established and
maintained by a state or its political subdivisions, or any agency or instrumentality thereof, for the benefit of its employees,
and which has total assets in excess of US$5,000,000.

 

		Initial _______	The investor certifies that it is an insurance company
as defined in §2(13) of the Securities Act of 1933, or a registered investment company.

 

     

     

    

 

Lola One Acquisition Corporation (to
be renamed Amesite Inc.)

Investor Profile

(Must be completed by Investor)

 

Section A - Personal Investor Information 

 

Investor Name(s): _________________________________________________________________________________

Individual executing Profile or Trustee: _________________________________________________________________

Social Security Numbers / Federal I.D. Number: ___________________________________________________________

 

	Date of Birth:	________________________	 	Marital Status:_________________________
	Joint Party Date of Birth:	________________________	 	Investment Experience (Years):____________
	Annual Income:	________________________	 	 
	Net Worth*:	________________________	 	 

Home Street Address: ______________________________________________________________________________

Home City, State & Zip Code: ________________________________________________________________________

Home Phone: ________________________ Home Fax: ___________________
Home Email: ______________________

Employer: _______________________________________________________________________________________

Employer Street Address: ___________________________________________________________________________

Employer City, State & Zip Code: _____________________________________________________________________

Bus. Phone: _______________________ Bus. Fax: _______________________
Bus. Email: ______________________

Type of Business: _________________________________________________________________________________

Outside Broker/Dealer: _____________________________________________________________________________

 

Section B – Certificate Delivery
Instructions

 

____ Please deliver certificate to the Placement Agent for
deposit into my brokerage account

____ Please deliver certificate to the Home Address listed in
Section A.

____ Please deliver certificate to the following address: _______________________________________

 

Section C – Form of Payment
– Check or Wire Transfer

 

____ Check
payable to Signature Bank, as Escrow Agent for Lola One Acquisition Corporation

____ Wire funds from my outside account
according to instructions of the Subscription Agreement.

____ The funds for this investment
are rolled over, tax deferred from __________ within the allowed 60 day window.

 

Please check if you are a FINRA member
or affiliate of a FINRA member firm: ____

 

	 	 	 
	Investor Signature(s)	 	Date

 

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

     

     

    

 

ANTI MONEY LAUNDERING REQUIREMENTS

 

The USA PATRIOT Act

 

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

 

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

 

What is money laundering?

 

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

 

How big is the problem and why is it
important?

 

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

 

What are we required to do to eliminate
money laundering?

 

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

 

     

     

    

 

DISCLOSURE SCHEDULE

 

See attached.

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

Company
Disclosure Schedule

 

This Company Disclosure Schedule is made
and given pursuant to that certain Subscription Agreement (the “Agreement”) by and among Lola One Acquisition
Corporation (to be renamed Amesite Inc.) (the “Company”), and the Purchaser set forth on the signature
page thereto, dated as of April 27, 2018 and should be considered an integral part of the Agreement. This Company Disclosure Schedule
shall be arranged in paragraphs corresponding to the numbered and lettered paragraphs contained in Section 3 of the Agreement;
and to the extent that it is reasonably apparent from the context thereof that such disclosure also applies to any other numbered
paragraph contained in Section 3, the disclosures in any numbered paragraph of the Company Disclosure Schedule shall qualify such
other corresponding numbered paragraph in Section 3. Any terms defined in the Agreement will have the same meaning when used in
this Company Disclosure Schedule as when used in the Agreement, unless the context otherwise requires.

 

Nothing in this Company Disclosure Schedule
is intended to broaden the scope of any representation or warranty contained in the Agreement or to create any covenant. Inclusion
of any item in this Company Disclosure Schedule (1) does not represent a determination that such item is material or establish
a standard of materiality, (2) does not represent a determination that such item did not arise in the ordinary course of business,
(3) does not represent a determination that the transactions contemplated by the Agreement require the consent of third parties,
and (4) will not constitute, or be deemed to be, an admission to any third party concerning such item.

 

Matters reflected in this Company Disclosure
Schedule are not necessarily limited to matters required by the Agreement to be reflected herein. Any additional matters are set
forth for information purposes and do not necessarily include other matters of a similar nature. Any disclosures contained in this
Company Disclosure Schedule which refer to a document are qualified in their entirety by reference to the text of such document
and all schedules, exhibits and other documents incorporated by reference therein.

 

The section headings contained in this Company
Disclosure Schedule are inserted for convenience only and shall not affect in any way the meaning or interpretation of this Company
Disclosure Schedule.

 

     

     

    

 

3a. Organization and Qualification.

 

Subsidiaries of the Company

 

		·	Amesite Inc. to be renamed Amesite Operating Company at the effective time of the Merger.

 

     

     

    

 

3c. Capitalization.

 

Pro Forma Capitalization

 

Minimum Offering Amount

 

	 	 	Fully Diluted	 
	 	 	Total	 	 	Percent	 
	 	 	Common Shares	 	 	Ownership	 
	Management/Insiders	 	 	 	 	 	 
	Amesite Stockholders	 	 	5,833,333	 	 	 	39.00	%
	Equity Incentive Plan (EIP)	 	 	2,529,000	 	 	 	16.91	%
	Subtotal:	 	 	8,362,333	 	 	 	55.90	%
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Pre-Merger Company Affiliates	 	 	3,500,000	1	 	 	23.40	%
	Subtotal:	 	 	3,500,000	 	 	 	23.40	%
	 	 	 	 	 	 	 	 	 
	$3 M Offering2	 	 	 	 	 	 	 	 
	PPO Investors @ $1.50/share	 	 	2,000,000	 	 	 	13.37	%
	Insider Investment @1.20/share3	 	 	895,834	 	 	 	5.99	%
	Brokers’ Warrants4	 	 	200,000	 	 	 	1.34	%
	Subtotal:	 	 	3,095,834	 	 	 	20.70	%
	 	 	 	 	 	 	 	 	 
	Total:	 	 	14,958,167	 	 	 	100.00	%

 

1 Includes 400,000 shares issuable upon exercise
of a pre-funded warrant to purchase Common Stock.

2 Assumes no sales pursuant to the $3 M Over-Subscription
Option.

3 Inside Investors subject to 24 month lock-up period.

4 Brokers' Warrants represent 10% of shares sold
to Investors in the PPO @ $1.50 exercise price and 5 year term.

 

    28

     

    

 

Maximum Offering Amount

 

	 	 	Fully Diluted	 
	 	 	Total	 	 	Percent	 
	 	 	Common Shares	 	 	Ownership	 
	Management/Insiders	 	 	 	 	 	 
	Amesite Stockholders	 	 	5,833,333	 	 	 	32.60	%
	Equity Incentive Plan (EIP)	 	 	2,529,000	 	 	 	14.14	%
	Subtotal:	 	 	8,362,333	 	 	 	46.74	%
	 	 	 	 	 	 	 	 	 
	Pre-Merger Company Affiliates	 	 	3,500,000	1	 	 	19.56	%
	Subtotal:	 	 	3,500,000	 	 	 	19.56	%
	 	 	 	 	 	 	 	 	 
	$7 M Offering2	 	 	 	 	 	 	 	 
	PPO Investors @ $1.50/share	 	 	4,666,666	 	 	 	26.08	%
	Insider Investment @1.20/share3	 	 	895,834	 	 	 	5.01	%
	Brokers’ Warrants4	 	 	466,667	 	 	 	2.61	%
	Subtotal:	 	 	6,029,167	 	 	 	33.70	%
	 	 	 	 	 	 	 	 	 
	Total:	 	 	17,891,500	 	 	 	100.00	%

 

1 Includes 400,000 shares issuable upon exercise
of a pre-funded warrant to purchase Common Stock.

2 Assumes no sales pursuant to the $3 M Over-Subscription
Option.

3 Inside Investors subject to 24 month lock-up period.

4 Brokers' Warrants represent 10% of shares sold
to Investors in the PPO @ $1.50 exercise price and 5 year term.

 

(ii) Prior to the closing of the Merger, Amesite plans to issue
equity awards to purchase up to 883,334 shares of its capital stock to its directors, employees and consultants. Upon the closing
of the Merger, the Company will assume such equity awards and issue such shares based on the conversion ratio set forth in the
Merger Agreement.  In addition, the Company will issue a pre-funded warrant to purchase up to 400,000 shares of Common
Stock prior to the closing of the Merger. There are no other rights to purchase Common Stock outstanding.

 

(iii) See Schedule 3(dd).

 

(iv) None.

 

(vi) None.

 

     

     

    

 

3e. No Conflicts.

 

None.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

3f. Absence of Litigation.

 

None.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

3k. Intellectual Property Rights.

 

N/A.

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

3n. Title.

 

N/A.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

3q. Rights of First Refusal.

 

Common Stock Purchase Agreement by and between Amesite and Ann
Marie Sastry, dated 11-14-17.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

3dd. Use of Proceeds

 

As of November 30, 2017, the Company had a promissory note outstanding
to a stockholder with an amount due of $17,197 including accrued interest of $572. The stockholder may continue to advance funds
under the terms of the note.

 

The Company may also reimburse the founder of Amesite for business
expenses incurred prior to consummation of the Merger in an amount not to exceed $500,000.

 

     

     

    

 

EXHIBIT A

 

Form of Registration Rights
Agreement

 

 

 

 

 

 

     

     

    

 

Annex A

 

LOLA
ONE ACQUISITION CORPORATION

 

(TO
BE RENAMED AMESITE INC.)

 

Selling Securityholder Notice
and Questionnaire

 

The
undersigned beneficial owner of Registrable Securities of Lola One Acquisition Corporation (to be renamed Amesite Inc.),
a Delaware corporation (the “Company”), understands that the Company has filed
or intends to file with the U.S. Securities and Exchange Commission a registration statement (the “Registration Statement”)
for the registration and resale under Rule 415 of the Securities Act of 1933, as amended, of the Registrable Securities, in accordance
with the terms of the Registration Rights Agreement (the “Registration Rights Agreement”) to which this document
is annexed. A copy of the Registration Rights Agreement is available from the Company upon request at the address set forth below.
All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Registration Rights Agreement.

 

Certain legal consequences
arise from being named as a selling security holder in the Registration Statement and the related prospectus. Accordingly, holders
and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences
of being named or not being named as a selling security holder in the Registration Statement and the related prospectus.

 

NOTICE

 

The undersigned beneficial
owner (the “Selling Securityholder”) of Registrable Securities hereby elects to include the Registrable Securities
owned by it in the Registration Statement.

 

The undersigned hereby
provides the following information to the Company and represents and warrants that such information is accurate:

 

QUESTIONNAIRE

 

		1.	Name:

 

		(a)	Full Legal Name of Selling Securityholder

 

	 	 
	 	 

 

		(b)	Full Legal Name of Registered Holder (holder of record) (if not the same as (a) above) through
which Registrable Securities are held:

 

	 	 
	 	 

 

		(c)	If you are not a natural person, full Legal Name of Natural Control Person (which means a natural
person who directly or indirectly alone or with others has power to vote or dispose of the securities covered by this Questionnaire):

 

	 	 
	 	 

 

		2.	Address for Notices to Selling Securityholder:

 

	 
	 
	 
	Telephone: ________________________________________ Fax: __________________________________________
	Email: __________________________________________________________________________________________
	Contact Person: ___________________________________________________________________________________

 

     

     

    

 

		3.	Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

Yes ☐ No ☐

 

		(b)	If “yes” to Section 3(a), did you receive your Registrable Securities as compensation
for investment banking services to the Company?

 

Yes ☐ No
☐

 

 Note: If
“no” to Section 3(b), the Commission’s staff has indicated that you should be identified as an underwriter in
the Registration Statement.

 

		(c)	Are you an affiliate of a broker-dealer?

 

Yes ☐ No
☐

 

		(d)	If you are an affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
in the ordinary course of business, and at the time of the purchase of the Registrable Securities to be resold, you had no agreements
or understandings, directly or indirectly, with any person to distribute the Registrable Securities?

 

Yes ☐ No
☐

 

		Note:	If “no” to Section 3(d), the Commission’s
staff has indicated that you should be identified as an underwriter in the Registration Statement.

 

4. Beneficial
Ownership of Securities of the Company Owned by the Selling Securityholder:

 

Except as set forth below
in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company.

 

		(a)	Please list the type (common stock, warrants, etc.) and amount of all securities of the Company
(including any Registrable Securities) beneficially owned1 by the Selling Securityholder:

	 	 
	 	 

 

5. Relationships
with the Company:

 

Except as set forth below,
neither you nor (if you are a natural person) any member of your immediate family, nor (if you are not a natural person) any of
your affiliates2, officers, directors or principal equity holders (owners of 5% of more of the equity securities of
the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors
or affiliates) during the past three years.

 

State any exceptions here:

	 	 
	 	 

 

 

		1	Beneficially Owned:  A “beneficial
owner” of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding,
relationship or otherwise has or shares (i) voting power, including the power to direct the voting of such
security, or (ii) investment power, including the power to dispose of, or direct the disposition of,
such security.  In addition, a person is deemed to have “beneficial ownership” of a security of which such person
has the right to acquire beneficial ownership at any time within 60 days, including, but not limited to, any right to acquire
such security: (i) through the exercise of any option, warrant or right, (ii) through the conversion of any security
or (iii) pursuant to the power to revoke, or the automatic termination of, a trust, discretionary account or similar arrangement.

 

It is possible that a security
may have more than one “beneficial owner,” such as a trust, with two co-trustees sharing voting power, and the settlor
or another third party having investment power, in which case each of the three would be the “beneficial owner” of
the securities in the trust.  The power to vote or direct the voting, or to invest or dispose of, or direct the investment
or disposition of, a security may be indirect and arise from legal, economic, contractual or other rights, and the determination
of beneficial ownership depends upon who ultimately possesses or shares the power to direct the voting or the disposition of the
security.

 

The final determination of the
existence of beneficial ownership depends upon the facts of each case.  You may, if you believe the facts warrant it, disclaim
beneficial ownership of securities that might otherwise be considered “beneficially owned” by you.

 

		2	Affiliate:  An “affiliate” is a company or person that directly,
or indirectly through one or more intermediaries, controls you, or is controlled by you, or is under common control with you.

 

     

     

    

 

The undersigned agrees
to promptly notify the Company of any inaccuracies or changes in the information provided herein that may occur subsequent to the
date hereof at any time while the Registration Statement remains effective.

 

By signing below, the
undersigned consents to the disclosure of the information contained herein in its answers to Items 1 through 5 and the inclusion
of such information in the Registration Statement and the related prospectus and any amendments or supplements thereto. The undersigned
understands that such information will be relied upon by the Company in connection with the preparation or amendment of the Registration
Statement and the related prospectus and any amendments or supplements thereto.

 

IN WITNESS WHEREOF
the undersigned, by authority duly given, has caused this Selling Securityholder Notice and Questionnaire to be executed and delivered
either in person or by its duly authorized agent.

 

	BENEFICIAL OWNER (individual)	 	BENEFICIAL OWNER (entity)
	 	 	 
	 	 	 
	Signature	 	Name of Entity
	 	 	 
	 	 	 
	Print Name	 	Signature
	 	 	 
	 	 	Print Name: 	     
	Signature (if Joint Tenants or Tenants in Common)	 	 	 
	 	 	Title: 	 

 

PLEASE E-MAIL A COPY OF THE COMPLETED
AND EXECUTED SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

 

Mitchell Silberberg & Knupp LLP

12 East 49th Street, 30th Floor

New York, New York 10017

Attention: Sarah Bernardo

Email: s2b@msk.com

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