Document:

Exhibit 10.33

 

FORM OF 2018 6% CONVERTIBLE DEBENTURE

 

	NUMBER XXXXX	$XXXXX.XX

 

UNITED STATES OF AMERICA STATE OF NEVADA

 

ORGANICELL REGENERATIVE MEDICINE, INC.,
a Nevada corporation, (hereinafter called the "Company"), for value received , hereby promises to pay to

 

Name: Address:

 

Country:

_________

 

or registered assigns, in legal tender
of the United States of America, the principal sum of XXXXXX Thousand Dollars ($XX,000.00), together with interest at the rate
of XX per cent (XX%) per annum as follows:

 

On or before the tenth
(10th) business day of XXXXX, XXX, interest only
shall be paid for the actual number of days from the date of issuance to XXXXX, XXXX;

 

Thereafter, on or
before the tenth (10th) business day of XXXXX, of XXXXX and of XXXXX, interest only shall
be paid for the immediately prior calendar quarter.

 

The principal sum,
together with interest for the month ended XXXX, XXXXX, shall be due and payable, in full, on the tenth (10th)
business day of XXXXX together with any balance of interest otherwise unpaid.

 

Each of such payments
shall be paid to the registered owner of this Debenture as of the close of business on the last business day of the month preceding
payment and no proration shall be required. Interest on the Debentures shall be computed on the basis of a 360-day year of twelve
30-day months.

 

This Debenture is one of a duly authorized issue of 2018 6% Convertible Debentures of the Company for the maximum aggregate principal amount
(except with respect to mutilated, destroyed, lost or stolen Debentures) of $1,000,000, all of like tenor except as to issuance
date.

 

Upon the occurrence
and continuance of default, the principal of this Debenture may be declared due and payable prior to its regular maturity; i.e.,
maturity may be accelerated. An event of default shall include:

 

(a)       Failure(s)
or omission(s) to pay, or other delinquency in the payment of, any interest upon any of the Debentures as and when the same shall
become due and payable, and continuance of such delinquency for a period of thirty (30) days; or

 

(b)      Failure(s)
or omission(s) to pay, or other default in the payment of the principal of any of the Debentures as and when the same shall become
due and payable either at maturity, upon redemption, by declaration or otherwise; or

 

(c)      If
the Company becomes insolvent or unable to pay its debts as they mature or makes an assignment for the benefit of its creditors,
or a proceeding  is  instituted by or against the Company alleging that the Company is insolvent or unable to pay its debts
as they mature and such proceeding remains un-dismissed for sixty (60) days; or

 

(d)      Failure
on the part of the Company duly to observe or perform any of the covenants or agreements on the part of the Company contained
in the Debentures or in this Instrument for a period of sixty (60) days after the date on which the earliest written notice of
such failure, requiring the Company to remedy the same, shall have been given to the Company by a holder of one or more of the
Debentures; or

 

 

 

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(e)      If
the Company shall, on a petition in bankruptcy or reorganization filed against it, be adjudicated a bankrupt , or if a
court of competent jurisdiction shall enter an order or decree appointing, without the consent of the Company, a receiver of the
Company or of the whole or substantially all of its property, or approving a petition filed against it seeking reorganization
or arrangement of the Company under the federal bankruptcy laws or any other applicable law or statute of the United States of
America or any state thereof, and such adjudication, order, or decree shall not be vacated or set aside or stayed within ninety
(90) days from the date of the entry thereof.

 

This Debenture is
subject to call and redemption prior to its regular maturity, at any time, and from time to time, in whole or in part, on at least
thirty (30) days written notice but not to exceed sixty (60) days, at a Redemption Price equal to (i) the unpaid principal balance
and (ii) the accrued interest to the date fixed for redemption. One or more Debentures may be redeemed without the redemption of
the entire issue, in which event the Debentures to be redeemed shall be selected by lot.

 

This Debenture (the
principal and all accrued but unpaid interest thereon) is subject to conversion at the option of the holder at any time, from time
to time, commencing thirty (30) trading days after effectiveness of the Company's pending reverse stock split and continuing up
to five (5) days prior to maturity and (b) at any time during the period following notice of redemption of this Debenture up to
five (5) days prior to the date of redemption, into shares of the Common Stock of the Company at a Conversion Price equal to XXXXXXXXX
per post-split share. No fractional shares shall be issued; fractional shares shall be rounded up to the next whole share.

 

No past, present,
or future shareholder, director, agent, employee, or officer of the Company or of any predecessor or successor corporation shall
be in any way personally liable for payment of the principal or interest on this Debenture, or be otherwise personally liable i
n respect to: (a) this Debenture; or (b) to any covenant, provision or condition contained in this Debenture; or (c) any claim
based on this Debenture. Each owner of this Debenture, by his acceptance hereof, assents and agrees that this Debenture shall be
only collectible out of, and only enforceable against, the property from time to time belonging to the Company.

 

This Debenture has
not been registered under the Securities Act of 1933 and may not be sold, transferred, pledged, hypothecated or otherwise disposed
of unless there is an effective registration statement with respect to it or there is an exemption from such registration available
under the circumstances.

 

Subject to the foregoing
restriction on transfer, this Debenture is transferable on the books of the Company, to be kept at the office of the Company, by
the registered owner hereof in person, or by an attorney duly authorized in writing, upon surrender and cancellation of this Debenture.
Upon any such transfer, a new Debenture or Debentures of the same issue and for the same aggregate original face amount shall be
issued to the transferee in exchange therefor; provided, nevertheless, that the actual liability of the Company shall be limited
to the actual unpaid principal amount outstanding as of the date of transfer, together with any accrued but unpaid interest thereon.
The Company may deem or treat the person in whose name this Debenture shall at the time be registered as the absolute owner hereof
for the purposes of transfer and receiving payment of principal and/or interest as well as for all other purposes whatsoever and
the Company shall not be affected by any notice to the contrary.

 

IN WITNESS WHEREOF,
Organicell Regenerative Medicine, Inc. has caused this Debenture to be signed by its CEO or President and to be dated as of XXXXXX,
20XX.

 

	 	ORGANICELL REGENERATIVE MEDICINE, INC.
	 	 
	 	 
	 	By: ___________________

 

 

Attest:

 

 

 

______________________________

 

 

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ASSIGNMENT

 

For value received, the undersigned hereby sells,
assigns and transfers to:

___________________________________________________________________
all his/her/their interest represented by the within Debenture and does hereby authorize, empower, and appoint _____________________________,
attorney to make the necessary transfer on the books of the Company, with full power of substitution in the premises.

 

DATED:_____________________________________,
201__

 

WITNESS:

 

 

 

	 	 	 
	 	 	(Registered Owner)
	 	 	 
	 	 	 
	 	 	(Registered Co-owner)

 

 

 

 

 

 

 

 

    	 	3Execution
Copy

 

SECURITIES
PURCHASE AGREEMENT

 

THIS
SECURITIES PURCHASE AGREEMENT (this “Agreement”) is dated as of October 26, 2018, (the “Effective
Date”) between TYLER WELDERS SUPPLY, INC., a Texas corporation (collectively, the “Seller”),
and UNITED WELDING SPECIALITIES OF LONGVIEW, INC., a Texas corporation (the “Corporation”), and MAGNEGAS
APPLIED TECHNOLOGY SOLUTIONS, INC., a Delaware corporation (including its successors and assigns, the “Purchaser”).

 

RECITALS:

 

WHEREAS,
subject to the terms and conditions set forth in this Agreement and pursuant to an exemption from the registration requirements
of Section 5 of the Securities Act of 1933, as amended (the “Securities Act”), the Seller(s) desires to sell
to the Purchaser, and the Purchaser desires to purchase from the Seller(s), securities of the Corporation, as more fully described
in this Agreement.

 

AGREEMENT:

 

NOW,
THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration,
the receipt and adequacy of which are hereby acknowledged, the Seller(s), Corporation and each Purchaser agree as follows:

 

1)
PURCHASE AND SALE OF SECURITIES.

 

a)
Purchase of Shares of Common Stock. Subject to the satisfaction (or waiver) of the conditions set forth in Section 6 below,
the Seller(s) will sell to the Purchaser, and the Purchaser agrees to purchase from the Seller(s) on the Closing Date (as defined
below) (i) such aggregate number of shares of Common Stock set forth opposite such Purchaser’s name in column (3) on the
Schedule of Purchasers (“Securities”).

 

b)
Closing. The closing (the “Closing”) of the purchase of the Securities by the Purchasers shall occur
at 3539 US HWY 271, Tyler, Texas 75708. The date and time of the Closing (the “Closing Date”) shall be 10:00
a.m., Pacific Standard Time, on the first (1st) Business Day (as defined below) on which the conditions to the Closing set forth
in Sections 5 and 6 below are satisfied or waived (or such other date as is mutually agreed to by the Seller(s) and the Purchaser).
As used herein “Business Day” means any day other than a Saturday, Sunday or other day on which commercial
banks in New York, New York are authorized or required by law to remain closed.

 

c)
Purchase Price. The aggregate purchase price for the Securities to be purchased by the Purchaser shall be the amount set
forth opposite such Purchaser’s name in column (3) on the Schedule of Purchasers. The purchase price for the Securities
will be US $750,000 (the “Purchase Price”) in cash and payable as set forth on the Schedule of Purchasers.

 

d)
Form of Payment. On the Closing Date, (i) the Purchaser shall pay the Purchase Price by wire transfer of immediately available
funds and (ii) the Seller(s) shall deliver to the Purchaser stock certificates duly executed to effect the transfer of the Securities
to the Purchaser or its designee.

 

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2)
PURCHASER’S REPRESENTATIONS AND WARRANTIES.

 

The
Purchaser represents and warrants to the Seller(s) that, as of the date hereof and as of the Closing Date:

 

a)
Organization; Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws
of the jurisdiction of its organization with the requisite power and authority to enter into and to consummate the transactions
contemplated by the Transaction Documents (as defined below) to which it is a party and otherwise to carry out its obligations
hereunder and thereunder.

 

b)
Validity; Enforcement. This Agreement has been duly and validly authorized, executed and delivered on behalf of the Purchaser
and shall constitute the legal, valid and binding obligations of the Purchaser enforceable against the Purchaser in accordance
with its respective terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy,
insolvency, reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement
of applicable creditors’ rights and remedies.

 

c)
No Conflicts. The execution, delivery and performance by the Purchaser of this Agreement and the consummation by the Purchaser
of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of the
Purchaser, or (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become
a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture
or instrument to which the Purchaser is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment
or decree (including federal and state securities laws) applicable to the Purchaser, except in the case of clauses (ii) and (iii)
above, for such conflicts, defaults, rights or violations which could not, individually or in the aggregate, reasonably be expected
to have a material adverse effect on the ability of the Purchaser to perform its obligations hereunder.

 

d)
Purchaser Status. At the time the Purchaser was offered the Securities, it was, and as of the date hereof it is (i) an
“Accredited Investor” as defined in Rule 501(a) under the Securities Act.

 

e)
Purchasers Investment Experience. The Purchaser, together with its representatives, has such knowledge, sophistication
and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment
in the Securities and has so evaluated the merits and risks of such investment. The Purchaser is able to bear the economic risk
of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.

 

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f)
No General Solicitation. The Purchaser is not purchasing the Securities as a result of any advertisement, article, notice
or other communication regarding the Securities published in any newspaper, magazine or similar media or broadcast over television
or radio or presented ay any seminar or any other general solicitation or general advertisement.

 

The
Corporation acknowledges and agrees that the representations contained in this Section 2 shall not modify, amend or affect such
Purchaser’s right to rely on the Corporation’s representations and warranties contained in this Agreement or any representations
and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection
with this Agreement or the consummation of the transactions contemplated hereby.

 

3)
REPRESENTATIONS AND WARRANTIES OF THE SELLER(S) AND CORPORATION.

 

The
Seller(s) and Corporation represent and warrant, joint and severally, to the Purchasers that, as of the date hereof and as of
the Closing Date:

 

a)
Organization and Qualification. The Corporation is an entity duly organized and validly existing and in good standing under
the laws of the jurisdiction in which it is formed, and has the requisite power and authority to own its property and to carry
on business as now being conducted and as presently proposed to be conducted. The Corporation is duly qualified as a foreign entity
to do business and is in good standing in every jurisdiction in which its ownership of property or the nature of the business
conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing
would not reasonably be expected to have a Material Adverse Effect (as defined below). As used in this Agreement, “Material
Adverse Effect” means any material adverse effect on (i) the business, properties, assets, liabilities, operations (including
results thereof), condition (financial or otherwise) or prospects of the Corporation, individually or taken as a whole, (ii) the
transactions contemplated hereby or in any of the other Transaction Documents or any other agreements or instruments to be entered
into in connection herewith or therewith or (iii) the authority or ability of the Corporation to perform any of its obligations
under any of the Transaction Documents (as defined below). Other than the Persons (as defined below) set forth on Schedule
3(a), the Corporation has no Subsidiaries. “Subsidiaries” means any Person in which the Corporation, directly
or indirectly, (I) owns any of the outstanding capital stock or holds any equity or similar interest of such Person or (II) controls
or operates all or any part of the business, operations or administration of such Person, and each of the foregoing, is individually
referred to herein as a “Subsidiary.”

 

b)
Authorization; Enforcement; Validity. The Seller(s) and the Corporation have the requisite power and authority to enter
into and perform their obligations under this Agreement and the other Transaction Documents in accordance with the terms hereof
and thereof. The execution and delivery of this Agreement and the other Transaction Documents by the Seller(s) and the Corporation,
and the consummation by the Seller(s) and the Corporation of the transactions contemplated hereby and thereby have been duly consented
to by the Corporation’s board of directors or other governing body, as applicable, and no further filing, consent or authorization
is required by the Corporation, its board of directors or its stockholders or other governing body. This Agreement has been, and
the other Transaction Documents to which it is a party will be prior to the Closing, duly executed and delivered by the Seller(s)
and the Corporation, and constitutes the legal, valid and binding obligations of the Seller(s) and Corporation, enforceable against
each in accordance with its respective terms, except as such enforceability may be limited by general principles of equity or
applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally,
the enforcement of applicable creditors’ rights and remedies and except as rights to indemnification and to contribution
may be limited by federal or state securities law. “Transaction Documents” means, collectively, this Agreement
and each of the other agreements and instruments entered into or delivered by any of the parties hereto in connection with the
transactions contemplated hereby and thereby, as may be amended from time to time.

 

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c)
Original Issuance of Securities. The Securities when originally issued were duly authorized, validly issued, fully paid
and non-assessable and free from all preemptive or similar rights, mortgages, defects, claims, liens, pledges, charges, taxes,
rights of first refusal, encumbrances, security interests and other encumbrances (collectively “Liens”) with
respect to the issuance thereof. The original issuance by the Corporation of the Securities was effected pursuant to an exemption
from the registration requirements of Section 5 of the Securities Act.

 

d)
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Corporation and the consummation
by the Corporation of the transactions contemplated hereby and thereby will not (i) result in a violation of the Certificate of
Incorporation (as defined below) (including, without limitation, any certificate of designations contained therein), Bylaws (as
defined below), certificate of formation, memorandum of association, articles of association, bylaws or other organizational documents
of the Corporation, or any capital stock or other securities of the Corporation, (ii) conflict with, or constitute a default (or
an event which with notice or lapse of time or both would become a default) in any respect under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Corporation is
a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including, without limitation,
foreign, federal and state securities laws and including all applicable foreign, federal and state laws, rules and regulations)
applicable to the Corporation or by which any property or asset of the Corporation is bound or affected.

 

e)
Consents. The Corporation is not required to obtain any consent from, authorization or order of, or make any filing or
registration with any Governmental Entity (as defined below) or any regulatory or self-regulatory agency or any other Person in
order for it to execute, deliver or perform any of its respective obligations under or contemplated by the Transaction Documents,
in each case, in accordance with the terms hereof or thereof. All consents, authorizations, orders, filings and registrations
which the Corporation is required to obtain pursuant to the preceding sentence have been or will be obtained or effected on or
prior to the Closing Date. “Governmental Entity” means any nation, state, county, city, town, village, district,
or other political jurisdiction of any nature, federal, state, local, municipal, foreign, or other government, governmental or
quasi-governmental authority of any nature (including any governmental agency, branch, department, official, or entity and any
court or other tribunal), multi-national organization or body; or body exercising, or entitled to exercise, any administrative,
executive, judicial, legislative, police, regulatory, or taxing authority or power of any nature or instrumentality of any of
the foregoing, including any entity or enterprise owned or controlled by a government or a public international organization or
any of the foregoing.

 

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f)
Acknowledgment Regarding Purchaser’s Purchase of Securities. The Seller(s) and Corporation acknowledge and agree
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 and that no Purchaser is (i) an officer or director of the Corporation, (ii)
an “affiliate” (as defined in Rule 144 promulgated under the Securities Act (or successor rule thereto) (collectively,
“Rule 144”)) of the Corporation, or (iii) to its knowledge, a “beneficial owner” of more
than 10% of the shares representing the Securities (as defined for purposes of Rule 13d-3 of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)). The Seller(s) and Corporation further acknowledges that no Purchaser is acting
as a financial advisor or fiduciary of the Seller(s) or Corporation (or in any similar capacity) with respect to the Transaction
Documents and the transactions contemplated hereby and thereby, and any advice given by a Purchaser or any of its representatives
or agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby is merely incidental
to such Purchaser’s purchase of the Securities. The Seller(s) and Corporation further represent to the Purchaser that the
Corporation’s decision to enter into the Transaction Documents to which it is a party has been based solely on the independent
evaluation by the Seller(s), Corporation and their respective representatives.

 

g)
Fees. No brokerage or finder’s fees or commissions are or will be payable by the Seller(s) or Corporation to any
broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the
transactions contemplated by the Transaction Documents. The Purchasers shall have no obligation with respect to any fees or with
respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3(g) that may be due
in connection with the transactions contemplated by the Transaction Documents.

 

h)
Application of Takeover Protections; Rights Agreement. The Corporation and its board of directors have taken all necessary
action, if any, in order to render inapplicable any control share acquisition, interested stockholder, business combination, poison
pill (including, without limitation, any distribution under a rights agreement), stockholder rights plan or other similar anti-takeover
provision under its organizational documents or the laws of the jurisdiction of its incorporation or otherwise which is or could
become applicable to any Purchaser as a result of the transactions contemplated by this Agreement, including, without limitation,
any Purchaser’s ownership of the Securities. The Corporation and its board of directors have taken all necessary action,
if any, in order to render inapplicable any stockholder rights agreement or similar arrangement relating to accumulations of beneficial
ownership of the Securities or a change in control of the Corporation.

 

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i)
Financial Statements. The Corporation’s fiscal year end is July 31. The Corporation has previously delivered to Purchaser
the following: audited balance sheet and statements of income, and cash flow of the Corporation as of and for the last three (3)
fiscal years (collectively the “Financial Statements”). The Financial Statements were prepared in accordance
with United States Generally Accepted Accounting Principles (“U.S. GAAP”) applied on a consistent basis throughout
the periods covered thereby, present fairly and accurately the financial condition of the Corporation as of such dates and the
results of operations for such periods and are correct and complete, and are consistent with the books and records of the Corporation.
The Corporation is not currently contemplating to amend or restate any of the Financial Statements (including, without limitation,
any notes or any letter of the independent accountants of the Corporation with respect thereto), nor is the Corporation currently
aware of facts or circumstances which would require the Corporation to amend or restate any of the Financial Statements, in each
case, in order for any of the Financials Statements to be in compliance with GAAP. The Corporation has not been informed by its
independent accountants that they recommend that the Corporation amend or restate any of the Financial Statements or that there
is any need for the Corporation to amend or restate any of the Financial Statements.

 

j)
Absence of Certain Changes. Since the date of the Corporation’s most recent Financial Statement, there has been no
Material Adverse Change and no material adverse development in the business, assets, liabilities, properties, operations (including
results thereof), condition (financial or otherwise) or prospects of the Corporation. Since the date of the Corporation’s
most recent Financial Statement, the Corporation has not (i) declared or paid any dividends, (ii) sold any assets, individually
or in the aggregate, outside of the ordinary course of business or (iii) made any capital expenditures, individually or in the
aggregate, outside of the ordinary course of business. The Corporation has not taken any steps to seek protection pursuant to
any law or statute relating to bankruptcy, insolvency, reorganization, receivership, liquidation or winding up, nor does the Corporation
have any knowledge or reason to believe that any of their respective creditors intend to initiate involuntary bankruptcy proceedings
or any actual knowledge of any fact which would reasonably lead a creditor to do so. The Corporation is 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, “Insolvent” means, (i) with respect to the Corporation, on a consolidated basis,
(A) the present fair saleable value of the Corporation’s assets is less than the amount required to pay the Corporation’s
total Indebtedness (as defined below), (B) the Corporation is unable to pay their debts and liabilities, subordinated, contingent
or otherwise, as such debts and liabilities become absolute and matured or (C) the Corporation intends to incur or believe that
they will incur debts that would be beyond their ability to pay as such debts mature; and (ii) with respect to the Corporation
(A) the present fair saleable value of the Corporation’s assets is less than the amount required to pay its respective total
Indebtedness, (B) the Corporation is unable to pay its respective debts and liabilities, subordinated, contingent or otherwise,
as such debts and liabilities become absolute and matured or (C) the Corporation intends to incur or believes that it will incur
debts that would be beyond its respective ability to pay as such debts mature. The Corporation has not engaged in any business
or in any transaction, and is not about to engage in any business or in any transaction, for which the Corporation’s remaining
assets constitute unreasonably small capital with which to conduct the business in which it is engaged as such business is now
conducted and is proposed to be conducted.

 

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k)
No Undisclosed Events, Liabilities, Developments or Circumstances. No event, liability, development or circumstance has
occurred or exists, or is reasonably expected to exist or occur with respect to the Seller(s), Corporation or any of their respective
businesses, properties, liabilities, prospects, operations (including results thereof) or condition (financial or otherwise),
that (i) could have a Material Adverse Effect on the Purchaser’s purchase hereunder or (ii) could have a Material Adverse
Effect, generally.

 

l)
Conduct of Business; Regulatory Permits. The Corporation is not in violation of any term of or in default under its organizational
documents, any certificate of designations, preferences or rights of any other outstanding series of preferred stock of the Corporation
or Bylaws or its organizational charter, certificate of formation, memorandum of association, articles of association, certificate
of incorporation or articles of incorporation or bylaws, respectively. The Corporation is not in violation of any judgment, decree
or order or any statute, ordinance, rule or regulation applicable to the Corporation, and the Corporation will not conduct its
business in violation of any of the foregoing, except in all cases for possible violations which could not, individually or in
the aggregate, have a Material Adverse Effect. The Corporation possesses all certificates, authorizations and permits issued by
the appropriate regulatory authorities necessary to conduct its business, except where the failure to possess such certificates,
authorizations or permits would not have, individually or in the aggregate, a Material Adverse Effect, and the Corporation has
not received any notice of proceedings relating to the revocation or modification of any such certificate, authorization or permit.
There is no agreement, commitment, judgment, injunction, order or decree binding upon the Corporation or to which the Corporation
is a party which has or would reasonably be expected to have the effect of prohibiting or materially impairing any business practice
of the Corporation, any acquisition of property by the Corporation or the conduct of business by the Corporation as currently
conducted other than such effects, individually or in the aggregate, which have not had and would not reasonably be expected to
have a Material Adverse Effect on the Corporation.

 

m)
Foreign Corrupt Practices. Neither the Seller(s), Corporation, or any director, officer, agent, employee, nor any other
person acting for or on behalf of the foregoing (individually and collectively, a “Corporation Affiliate”)
have violated the U.S. Foreign Corrupt Practices Act (the “FCPA”) or any other applicable anti-bribery or anti-corruption
laws, nor has any Corporation Affiliate offered, paid, promised to pay, or authorized the payment of any money, or offered, given,
promised to give, or authorized the giving of anything of value, to any officer, employee or any other person acting in an official
capacity for any Governmental Entity to any political party or official thereof or to any candidate for political office (individually
and collectively, a “Government Official”) or to any person under circumstances where such Corporation Affiliate
knew or was aware of a high probability that all or a portion of such money or thing of value would be offered, given or promised,
directly or indirectly, to any Government Official, for the purpose of:

 

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i)
(A) influencing any act or decision of such Government Official in his/her official capacity, (B) inducing such Government Official
to do or omit to do any act in violation of his/her lawful duty, (C) securing any improper advantage, or (D) inducing such Government
Official to influence or affect any act or decision of any Governmental Entity, or

 

ii)
assisting the Corporation in obtaining or retaining business for or with, or directing business to, the Corporation.

 

o)
Sarbanes-Oxley Act. The Corporation is in compliance with, or is exempt from, any and all applicable requirements of the
Sarbanes-Oxley Act of 2002, as amended, and any and all applicable rules and regulations promulgated thereunder.

 

p)
Transactions With Affiliates. Except as set forth on Schedule 3(p) attached hereto, no current or former employee,
partner, director, officer or stockholder (direct or indirect) of the Corporation, or any associate, or, to the knowledge of the
Corporation, any affiliate of any thereof, or any relative with a relationship no more remote than first cousin of any of the
foregoing, is presently, or has ever been, (i) a party to any transaction with the Corporation (including any contract, agreement
or other arrangement providing for the furnishing of services by, or rental of real or personal property from, or otherwise requiring
payments to, any such director, officer or stockholder or such associate or affiliate or relative (other than for ordinary course
services as employees, officers or directors of the Corporation)) or (ii) the direct or indirect owner of an interest in any corporation,
firm, association or business organization which is a competitor, supplier or customer of the Corporation, nor does any such Person
receive income from any source other than the Corporation which relates to the business of the Corporation or should properly
accrue to the Corporation. No employee, officer, stockholder or director of the Corporation or member of his or her immediate
family is indebted to the Corporation, as the case may be, nor is the Corporation indebted (or committed to make loans or extend
or guarantee credit) to any of them, other than (i) for payment of salary for services rendered, (ii) reimbursement for reasonable
expenses incurred on behalf of the Corporation, and (iii) for other standard employee benefits made generally available to all
employees or executives (including stock option agreements outstanding under any stock option plan approved by the Board of Directors
of the Corporation).

 

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q)
Equity Capitalization.

 

(1)
Definitions:

 

(a)
“Common Stock” means (x) the Corporation’s shares of common stock, no par value per share, and (y) any
capital stock into which such common stock shall have been changed or any share capital resulting from a reclassification of such
common stock.

 

(2)
Authorized and Outstanding Capital Stock. As of the Effective Date hereof, the authorized capital stock of the Corporation
consists of 1,000,000 shares of Common Stock, of which, 100 are issued and outstanding.

 

(3)
Valid Issuance; Available Shares; Affiliates. All of such outstanding shares are duly authorized and have been validly
issued and are fully paid and non-assessable. Schedule 3(q)(iii) sets forth the number of shares of Common Stock that are
(A) reserved for issuance pursuant to warrants, options, convertible securities or other similar instruments and (B) that are,
as of the date hereof, owned by Persons who are “affiliates” (as defined in Rule 405 of the Securities Act
and calculated based on the assumption that only officers, directors and holders of at least 10% of the Corporation’s issued
and outstanding Common Stock are “affiliates” without conceding that any such Persons are “affiliates”
for purposes of federal securities laws) of the Corporation. To the Corporation’s knowledge, no Person owns 10% or more
of the Corporation’s issued and outstanding shares of Common Stock (calculated based on the assumption that all convertible
securities, whether or not presently exercisable or convertible, have been fully exercised or converted (as the case may be) taking
account of any limitations on exercise or conversion (including “blockers”) contained therein without conceding that
such identified Person is a 10% stockholder for purposes of federal securities laws).

 

(4)
Existing Securities; Obligations. Except as disclosed on Schedule 3(q)(iii), (A) none of the Corporation’s
shares, interests or capital stock is subject to preemptive rights or any other similar rights or Liens suffered or permitted
by the Corporation; (B) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any shares, interests
or capital stock of the Corporation, or contracts, commitments, understandings or arrangements by which the Corporation is or
may become bound to issue additional shares, interests or capital stock of the Corporation or options, warrants, scrip, rights
to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable
or exchangeable for, any shares, interests or capital stock of the Corporation; (C) there are no agreements or arrangements under
which the Corporation is obligated to register the sale of any of their securities under the Securities Act; (D) there are no
outstanding securities or instruments of the Corporation which contain any redemption or similar provisions, and there are no
contracts, commitments, understandings or arrangements by which the Corporation is or may become bound to redeem a security of
the Corporation; (E) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered
by the issuance of the securities; and (F) the Corporation does not have any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement.

 

    	9

    	 

    

 

(5)
Organizational Documents. The Seller(s) and the Corporation have furnished to the Purchasers true, correct and complete
copies of the Corporation’s Articles of Incorporation, as amended and as in effect on the date hereof (the “Articles
of Incorporation”), and the Corporation’s bylaws, as amended and as in effect on the date hereof (the “Bylaws”),
and the terms of all convertible securities and the material rights of the holders thereof in respect thereto.

 

r)
Indebtedness and Other Contracts. The Corporation, (i) except as disclosed on Schedule 3(r), does not have any outstanding
debt securities, notes, credit agreements, credit facilities or other agreements, documents or instruments evidencing Indebtedness
of the Corporation or by which the Corporation is or may become bound, (ii) is a party to any contract, agreement or instrument,
the violation of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably
be expected to result in a Material Adverse Effect, (iii) has any financing statements securing obligations in any amounts filed
in connection with the Corporation; (iv) is in violation of any term of, or in default under, any contract, agreement or instrument
relating to any Indebtedness, except where such violations and defaults would not result, individually or in the aggregate, in
a Material Adverse Effect, or (v) is a party to any contract, agreement or instrument relating to any Indebtedness, the performance
of which, in the judgment of the Corporation’s officers, has or is expected to have a Material Adverse Effect. For purposes
of this Agreement: (x) “Indebtedness” of any Person means, without duplication (A) all indebtedness for borrowed
money, (B) all obligations issued, undertaken or assumed as the deferred purchase price of property or services (including, without
limitation, “capital leases” in accordance with GAAP) (other than trade payables entered into in the ordinary course
of business consistent with past practice), (C) all reimbursement or payment obligations with respect to letters of credit, surety
bonds and other similar instruments, (D) all obligations evidenced by notes, bonds, debentures or similar instruments, including
obligations so evidenced incurred in connection with the acquisition of property, assets or businesses, (E) all indebtedness created
or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect
to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the Seller(s)
or bank under such agreement in the event of default are limited to repossession or sale of such property), (F) all monetary obligations
under any leasing or similar arrangement which, in connection with GAAP, consistently applied for the periods covered thereby,
is classified as a capital lease, (G) all indebtedness referred to in clauses (A) through (F) above secured by (or for which the
holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien upon or in any property
or assets (including accounts and contract rights) owned by any Person, even though the Person which owns such assets or property
has not assumed or become liable for the payment of such indebtedness, and (H) all Contingent Obligations in respect of indebtedness
or obligations of others of the kinds referred to in clauses (A) through (G) above; and (y) “Contingent Obligation”
means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness,
lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability,
or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged,
or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole
or in part) against loss with respect thereto. For purposes of this Agreement, “Person” means an individual,
a limited liability Corporation, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other
entity and any Governmental Entity or any department or agency thereof.

 

    	10

    	 

    

 

s)
Litigation. There is no action, suit, arbitration, proceeding, inquiry or investigation before or by any court, public
board, other Governmental Entity, self-regulatory organization or body pending or, to the knowledge of the Corporation and Seller(s),
threatened against or affecting the Seller(s), the Corporation, the Securities or any of the Corporation’s officers or directors,
whether of a civil or criminal nature or otherwise, in their capacities as such, except as set forth in Schedule 3(s).
No director, officer or employee of the Corporation has willfully violated 18 U.S.C. §1519 or engaged in spoliation in reasonable
anticipation of litigation. Without limitation of the foregoing, there has not been, and to the knowledge of the Corporation and
Seller(s), there is not pending or contemplated, any investigation by the U.S Securities and Exchange Commission (“SEC”)
involving the Seller(s), Corporation, or any current or former director or officer of the Corporation. The SEC has not issued
any stop order or other order suspending the effectiveness of any registration statement filed by the Corporation under the Securities
Act or the Exchange Act. After reasonable inquiry of its employees, the Corporation is not aware of any fact which might result
in or form the basis for any such action, suit, arbitration, investigation, inquiry or other proceeding. The Corporation is not
subject to any order, writ, judgment, injunction, decree, determination or award of any Governmental Entity.

 

t)
Insurance. The Corporation is insured by insurers of recognized financial responsibility against such losses and risks
and in such amounts as management of the Corporation believes to be prudent and customary in the businesses in which the Corporation
is engaged. The Corporation has not been refused any insurance coverage sought or applied for, and the Corporation has no any
reason to believe that it will be unable to renew its existing insurance coverage as and when such coverage expires or to obtain
similar coverage from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse
Effect.

 

u)
Employee Relations. The Corporation is not a party to any collective bargaining agreement or employs any member of a union.
The Corporation believes that its relations with its employees is good. No executive officer or other key employee of the Corporation
has notified the Corporation that such officer intends to leave the Corporation or otherwise terminate such officer’s employment
with the Corporation. No executive officer or other key employee of the Corporation is, or is now expected to be, in violation
of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement, non-competition
agreement, or any other contract or agreement or any restrictive covenant, and the continued employment of each such executive
officer or other key employee (as the case may be) does not subject the Corporation to any liability with respect to any of the
foregoing matters. The Corporation is in compliance with all federal, state, local and foreign laws and regulations respecting
labor, employment and employment practices and benefits, terms and conditions of employment and wages and hours, except where
failure to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Material
Adverse Effect.

 

    	11

    	 

    

 

v)
Title.

 

i)
Real Property. The Corporation holds good title to all real property, leases in real property, facilities or other interests
in real property owned or held by the Corporation (the “Real Property”) owned by the Corporation (as applicable).
The Real Property is free and clear of all Liens and is not subject to any rights of way, building use restrictions, exceptions,
variances, reservations, or limitations of any nature except for (a) Liens for current taxes not yet due and (b) zoning laws and
other land use restrictions that do not impair the present or anticipated use of the property subject thereto. Any Real Property
held under lease by the Corporation is held by it under valid, subsisting and enforceable leases with such exceptions as are not
material and do not interfere with the use made and proposed to be made of such property and buildings by the Corporation.

 

ii)
Fixtures and Equipment. The Corporation (as applicable) has good title to, or a valid leasehold interest in, the tangible
personal property, equipment, improvements, fixtures, and other personal property and appurtenances that are used by the Corporation
in connection with the conduct of its business (the “Fixtures and Equipment”). The Fixtures and Equipment are
structurally sound, are in good operating condition and repair, are adequate for the uses to which they are being put, are not
in need of maintenance or repairs except for ordinary, routine maintenance and repairs and are sufficient for the conduct of the
Corporation’s business (as applicable) in the manner as conducted prior to the Closing. The Corporation owns all of its
Fixtures and Equipment free and clear of all Liens except for (a) liens for current taxes not yet due and (b) zoning laws and
other land use restrictions that do not impair the present or anticipated use of the property subject thereto.

 

w)
Intellectual Property Rights. The Corporation owns or possess adequate rights or licenses to use all trademarks, trade
names, service marks, service mark registrations, service names, original works of authorship, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and other intellectual property rights and all applications
and registrations therefor (“Intellectual Property Rights”) necessary to conduct its business as now conducted
and presently proposed to be conducted. Each of patents owned by the Corporation is listed on Schedule 3(w)(i). Except
as set forth in Schedule 3(w)(ii), none of the Corporation’s Intellectual Property Rights have expired or terminated
or have been abandoned or are expected to expire or terminate or are expected to be abandoned, within three (3) years from the
date of this Agreement. The Corporation does not have any knowledge of any infringement by the Corporation of Intellectual Property
Rights of others. There is no claim, action or proceeding being made or brought, or to the knowledge of the Corporation, being
threatened, against the Corporation regarding its Intellectual Property Rights. The Corporation is not aware of any facts or circumstances
which might give rise to any of the foregoing infringements or claims, actions or proceedings. The Corporation has taken reasonable
security measures to protect the secrecy, confidentiality and value of all of its Intellectual Property Rights.

 

    	12

    	 

    

 

x)
Environmental Laws.

 

i)
The Corporation (A) is in compliance with any and all Environmental Laws (as defined below), (B) has received all permits, licenses
or other approvals required of it under applicable Environmental Laws to conduct its businesses and (C) is in compliance with
all terms and conditions of any such permit, license or approval where, in each of the foregoing clauses (A), (B) and (C), the
failure to so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The term
“Environmental Laws” means all federal, state, local or foreign laws relating to pollution or protection of
human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface
strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases of chemicals,
pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”)
into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

ii)
No Hazardous Materials:

 

(1)
have been disposed of or otherwise released from any Real Property of the Corporation in violation of any Environmental Laws;
or

 

(2)
are present on, over, beneath, in or upon any Real Property or any portion thereof in quantities that would constitute a violation
of any Environmental Laws. No prior use by the Corporation of any Real Property has occurred that violates any Environmental Laws,
which violation would have a material adverse effect on the business of the Corporation.

 

iii)
The Corporation does not know of any other person who or entity which has stored, treated, recycled, disposed of or otherwise
located on any Real Property any Hazardous Materials, including, without limitation, such substances as asbestos and polychlorinated
biphenyls.

 

iv)
No Real Property is on any federal or state “Superfund” list or Liability Information System (“CERCLIS”)
list or any state environmental agency list of sites under consideration for CERCLIS, nor subject to any environmental related
Liens.

 

    	13

    	 

    

 

aa)
Tax Status. The Corporation (i) has timely made or filed all foreign, federal and state income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject, (ii) has timely 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 (iii) has set aside on its books provision reasonably adequate for the payment
of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply. There are no unpaid taxes
in any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Corporation know
of no basis for any such claim. The Corporation is not operated in such a manner as to qualify as a passive foreign investment
Corporation, as defined in Section 1297 of the Internal Revenue Code of 1986, as amended (the “Code”). The
net operating loss carryforwards (“NOLs”) for United States federal income tax purposes of the consolidated
group of which the Corporation is the common parent, if any, shall not be adversely effected by the transactions contemplated
hereby. The transactions contemplated hereby do not constitute an “ownership change” within the meaning of Section
382 of the Code, thereby preserving the Corporation’s ability to utilize such NOLs.

 

bb)
Investment Corporation Status. The Corporation is not an “investment Corporation,” an affiliate of an “investment
Corporation,” a Corporation controlled by an “investment Corporation” or an “affiliated person”
of, or “promoter” or “principal underwriter” for, an “investment Corporation” as such terms
are defined in the Investment Corporation Act of 1940, as amended.

 

cc)
U.S. Real Property Holding Corporation. The Corporation is not, or has never been a U.S. Real Property Holding Corporation
within the meaning of Section 897 of the Code, and the Corporation shall so certify upon any Purchaser’s request.

 

dd)
Transfer Taxes. On the Closing Date, all stock transfer or other taxes (other than income or similar taxes) which are required
to be paid in connection with the sale and transfer of the Securities to be sold to the Purchaser hereunder will be, or will have
been, fully paid or provided for by the Corporation, and all laws imposing such taxes will be or will have been complied with.

 

ee)
Bank Holding Corporation Act. The Corporation is not subject to the Bank Holding Corporation Act of 1956, as amended (the
“BHCA”) and to regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”).
Neither the Corporation nor any of its affiliates owns or controls, directly or indirectly, five percent (5%) or more of the outstanding
shares of any class of voting securities or twenty-five percent (25%) or more of the total equity of a bank or any entity that
is subject to the BHCA and to regulation by the Federal Reserve. Neither the Corporation nor any of its affiliates exercises a
controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by
the Federal Reserve.

 

    	14

    	 

    

 

ff)
Illegal or Unauthorized Payments; Political Contributions. Neither the Seller(s), nor the Corporation, to the best of the
Corporation’s knowledge (after reasonable inquiry of its officers and directors), any of the officers, directors, employees,
agents or other representatives of the Corporation or any other business entity or enterprise with which the Seller(s) or Corporation
is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution or gift of
money, property, or services, whether or not in contravention of applicable law, (i) as a kickback or bribe to any Person or (ii)
to any political organization, or the holder of or any aspirant to any elective or appointive public office except for personal
political contributions not involving the direct or indirect use of funds of the Corporation.

 

gg)
Money Laundering. The Seller(s) and the Corporation are in compliance with, and have not previously violated, the USA Patriot
Act of 2001 and all other applicable U.S. and non-U.S. anti-money laundering laws and regulations, including, without limitation,
the laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including,
but not limited, to (i) Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and Prohibiting Transactions
With Persons Who Commit, Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001)); and (ii) any regulations
contained in 31 CFR, Subtitle B, Chapter V.

 

hh)
Management. Except as set forth in Schedule 3(hh) hereto, during the past five (5) year period, no current or former
officer or director or, to the knowledge of the Corporation, no current ten percent (10%) or greater stockholder of the Corporation
has been the subject of:

 

i)
a petition under bankruptcy laws or any other insolvency or moratorium law or the appointment by a court of a receiver, fiscal
agent or similar officer for such Person, or any partnership in which such person was a general partner at or within two (2) years
before the filing of such petition or such appointment, or any corporation or business association of which such person was an
executive officer at or within two (2) years before the time of the filing of such petition or such appointment;

 

ii)
a conviction in a criminal proceeding or a named subject of a pending criminal proceeding (excluding traffic violations that do
not relate to driving while intoxicated or driving under the influence);

 

iii)
any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently
or temporarily enjoining any such person from, or otherwise limiting, the following activities:

 

(1)
acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker,
leverage transaction merchant, any other person regulated by the United States Commodity Futures Trading Commission or an associated
person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated
person, director or employee of any investment Corporation, bank, savings and loan association or insurance Corporation, or engaging
in or continuing any conduct or practice in connection with such activity;

 

(2)
engaging in any particular type of business practice; or

 

    	15

    	 

    

 

(3)
engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation
of securities laws or commodities laws;

 

iv)
any order, judgment or decree, not subsequently reversed, suspended or vacated, of any authority barring, suspending or otherwise
limiting for more than sixty (60) days the right of any such person to engage in any activity described in the preceding sub-paragraph,
or to be associated with persons engaged in any such activity;

 

v)
a finding by a court of competent jurisdiction in a civil action or by the SEC or other authority to have violated any securities
law, regulation or decree and the judgment in such civil action or finding by the SEC or any other authority has not been subsequently
reversed, suspended or vacated; or

 

vi)
a finding by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated
any federal commodities law, and the judgment in such civil action or finding has not been subsequently reversed, suspended or
vacated.

 

ii)
Reserved.

 

jj)
No Disagreements with Accountants and Lawyers. There are no material disagreements of any kind presently existing, or reasonably
anticipated by the Corporation to arise, between the Corporation and the accountants and lawyers formerly or presently employed
by the Corporation and the Corporation is current with respect to any fees owed to its accountants and lawyers which could affect
the Corporation’s ability to perform any of its obligations under any of the Transaction Documents.

 

ll)
No Additional Agreements. The Corporation does not have any agreement or understanding with any Purchasers with respect
to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents.

 

mm)
Public Utility Holding Act. The Corporation is not a “holding Corporation,” or an “affiliate” of
a “holding Corporation,” as such terms are defined in the Public Utility Holding Act of 2005.

 

nn)
Federal Power Act. The Corporation is not subject to regulation as a “public utility” under the Federal Power
Act, as amended.

 

oo)
Registration Rights. No holder of Securities of the Corporation has rights to the registration of any securities of the
Corporation.

 

    	16

    	 

    

 

pp)
Disclosure. The Seller(s) and Corporation understand and confirm that the Purchaser will rely on the foregoing representations
in effecting transactions in Securities of the Corporation. All disclosure provided to the Purchaser regarding the Seller(s) and
the Corporation, their businesses and the transactions contemplated hereby, including the schedules to this Agreement, furnished
by or on behalf of the Seller(s) and the Corporation is true and correct and does not contain any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances
under which they were made, not misleading. All of the written information furnished after the date hereof by or on behalf of
the Seller(s) and the Corporation to the Purchaser pursuant to or in connection with this Agreement and the other Transaction
Documents, taken as a whole, will be true and correct in all material respects as of the date on which such information is so
provided and will not contain any untrue statement of a material fact or omit to state any material fact necessary in order to
make the statements made therein, in the light of the circumstances under which they were made, not misleading. All financial
projections and forecasts that have been prepared by or on behalf of the Seller(s) and the Corporation and made available to the
Purchaser have been prepared in good faith based upon reasonable assumptions and represented, at the time each such financial
projection or forecast was delivered to each Purchaser, the Corporation’s best estimate of future financial performance
(it being recognized that such financial projections or forecasts are not to be viewed as facts and that the actual results during
the period or periods covered by any such financial projections or forecasts may differ from the projected or forecasted results).
The Seller(s) and Corporation acknowledge and agree that the Purchaser does not make or has not made any representations or warranties
with respect to the transactions contemplated hereby other than those specifically set forth in Section 2.

 

qq)
Private Placement. Assuming the accuracy of the Purchasers’ representations and warranties set forth in Section 3(c),
no registration under the Securities Act is required for the offer and sale of the Securities.

 

rr)
No General Solicitation. Neither the Seller(s), the Corporation nor any person acting on behalf of the Seller(s) or Corporation
has offered or sold any of the Securities by any form of general solicitation or general advertising.

 

ss)
Material Contracts; Customers; Suppliers.

 

i)
Schedule 3(ss)(i) attached hereto lists and briefly describes all Material Contracts as of the Closing Date. As used herein,
the term “Material Contract” shall mean a contract, agreement, instrument, arrangement, understanding, lease,
or rental agreement, whether written or verbal, to which the Corporation is a party, which (i) provides for aggregate payments
by or to the Corporation of U.S. $25,000.00 or more, or (ii) by its terms extends for a period ending (or is not otherwise terminable
for a period of) more than one year after the Closing Date. To the best knowledge of the Seller(s) and Corporation, each such
contract is enforceable pursuant to its terms and neither the Corporation nor any of the counter-parties to any such contract
is in material breach or violation of, or in default under, any provision of such Material Contracts. Except as set forth on Schedule
3(ss)(i) with respect to any specific Material Contract, the Closing of the transactions contemplated by this Agreement do
not require prior notice to or consent from the counterparty to any Material Contract.

 

    	17

    	 

    

 

ii)
Schedule 3(ss)(ii) sets forth a list of customers of the Corporation, who have generated at least U.S. $25,000.00 or more
in sales for the Corporation during each of the fiscal years ending 2015 and 2016. Unless otherwise listed under Material Contracts
in Schedule 3(ss)(i), these customers are not subject to any contract with the Corporation that currently extends more
than one (1) year after the Closing Date.

 

iii)
Schedule 3(ss)(iii) sets forth a list of vendors or suppliers to the Corporation, based on the value of purchases in excess
of U.S. $25,000.00 or more made from such suppliers during the 2016 and 2017 fiscal years. Unless otherwise listed under Material
Contracts in Schedule 3(ss)(i), these vendors and suppliers are not subject to any contract with the Corporation that currently
extends more than one (1) year after the Closing Date.

 

tt)
Employee Benefits. Schedule 3(tt) lists each non-qualified deferred compensation plan, qualified defined contribution
retirement plan, qualified defined benefit retirement plan or other material fringe benefit plan or program that the Corporation
maintains or to which the Corporation contributes with regard to any individual employed with the Corporation (“Employee
Benefit Plans”). With respect to any Employee Benefit Plan, within the meaning of Section 3(3) of the Employee Retirement
Income Security Act of 1974 (“ERISA”), which is subject to ERISA and which is sponsored, maintained or contributed
to, or has been sponsored, maintained or contributed to, since December 31, 2013, by the Corporation or any person deemed to be
affiliated or aggregated with the Corporation under Sections 414(b), (c), (m) or (o) of the Internal Revenue Code of 1986 (the
“Code”) or Section 4001(a)(14) of ERISA: (a) no unsatisfied withdrawal liability or obligation, within the
meaning of Section 4201 of ERISA, has been incurred, (b) no unsatisfied liability or obligation to the Pension Benefit Guaranty
Corporation has been incurred by the Corporation or any ERISA Affiliate, (c) no accumulated funding deficiency, whether or not
waived, within the meaning of Section 302 of ERISA or Section 412 of the Code has been incurred, and (d) all contributions (including
installments) to such plan required by Section 302 of ERISA and Section 412 of the Code have been timely made. With respect to
any Employee Benefit Plan, such plan has been funded and maintained in compliance with all laws applicable thereto and the requirements
of such plan’s governing documents.

 

uu)
Receivables. The Corporation’s receivables, including all contracts in transit, manufacturer’s warranty receivables,
notes receivable, accounts receivable, trade account receivables, and insurance proceeds receivable (“Receivables”)
relate to the business of the Corporation, represent bona fide transactions, arose in the Corporation’s ordinary course
of business and are properly reflected on the Corporation’s books and records. No customer or supplier of the Corporation
is entitled to any payment terms other than terms in the Corporation’s ordinary course of business. Except as set forth
on Schedule 3(uu), all of the Receivables are good and collectible receivables, are current and be collected in accordance
with past practice and the terms of such Receivables (and in any event within six (6) months following the Closing Date) without
any right to setoff or counterclaim.

 

    	18

    	 

    

 

4)
REPRESENTATIONS AND WARRANTIES OF SELLER(S).

 

a)
Ownership of Securities and Capacity to Sell. Each Seller identified on Schedule 4(a) beneficially and of record
the amount and type of Securities set forth next to each respective Seller’s name, and each Seller has the full legal right,
power, and authority to sell, convey, assign, and transfer such Seller’s respective Securities to the Purchaser pursuant
to this Agreement free and clear of any Lien, claim, charge, encumbrance, or restriction whatsoever, so that upon delivery of
such Securities to the Purchaser, good, and valid title to such Securities will vest in Purchaser free and clear of any lien,
claim, charge, encumbrance, or restriction whatsoever.

 

b)
Authorization. Each Seller that is a natural person has full right, capacity and authority to enter into this Agreement
and the Transaction Documents (defined below) and to sell, assign, transfer and deliver the Securities to be sold by such Seller
hereunder and to perform its other obligations under this Agreement and each Transaction Document to which Seller is a party.
Each Seller that is a corporation or other legal person, has full corporate or partnership right, power and authority to enter
into this Agreement and the Transaction Documents and to consummate the transactions contemplated hereby, and all corporate resolutions
required to authorize such Sellers to consummate the transactions contemplated hereby have been now or will, as of the Closing
Date, have been adopted. Each Seller that is the trustee of a trust or executor of an estate has been duly designated as trustee
under the trust instruments or as fiduciary or power of attorney for such estate, and is properly authorized under such documents
or instruments to enter into this Agreement and the Transaction Documents and to consummate the transactions contemplated hereby
on behalf of each such Seller. Upon proper execution and delivery by such Seller, this Agreement constitutes the valid and binding
obligation of the Sellers, enforceable in accordance with its terms, except as the enforceability hereof may be subject to or
limited by applicable bankruptcy, insolvency, reorganization, or other similar laws affecting creditors’ rights generally
and to general principles of equity being applied at the discretion of the courts.

 

c)
Consents and Approvals. Neither the execution and delivery by any Seller of this Agreement, nor the consummation by any
Seller of the transactions contemplated hereby, nor compliance by any Seller with any of the provisions hereof will: (i) conflict
with or result in a breach of any provision of the Articles or Certificate of Incorporation or Bylaws or other governing document
of such Seller; (ii) violate any order, writ, injunction, decree, judgment, ruling, law, rule or regulation of any court or governmental
authority, applicable to such Seller, or any of their respective properties or assets; (iii) require any consent, approval, or
authorization of, or notice to, or declaration, filing, or registration with, any governmental or regulatory authority; or (iv)
violate or conflict with, or result in a breach of, or constitute a default under, or require consents from any other party to,
or result in a right of termination or cancellation of, or result in acceleration of any right or creation of any lien under,
any note, bond, mortgage, indenture, deed of trust, license, franchise, permit, lease, contract, agreement, or other instrument
or commitment or obligation relating to which any Seller is or was a party or by which they or any of their respective properties
or assets may be or was bound or affected. The Securities constitute all of the Sellers’ equity ownership interests in the
Corporation.

 

    	19

    	 

    

 

5)
PRE-CLOSING COVENANTS.

 

a)
At all times during the period between the execution of this Agreement and the Closing, each Seller shall or shall cause the Corporation
and the Corporation shall do (or refrain from doing) the following:

 

i)
continue to operate the Corporation’s business in the same manner as the business was operated prior to the date of this
Agreement, and the Sellers who are employees of the Corporation shall devote One Hundred Percent (100%) of their working time
and attention to the conduct of the business;

 

ii)
not start any new business, or accept or undertake any employment or provide any services related to any business of any other
person or entity (other than in the Corporation’s ordinary course of business);

 

iii)
not remove, sell or otherwise dispose of any assets, property or equipment of any nature of the Corporation used in the business,
except for the sale of its products, inventory and equipment and the payment of payables and other obligations in the ordinary
course of business consistent with past custom and practice;

 

iv)
not allow any unlawful activity to be conducted on or about the premises upon which the business is conducted or at any other
place where business activity is being conducted by the Corporation;

 

v)
maintain its general liability and property insurance carried as of the date hereof;

 

vi)
not change, alter or revise its employee manual (if any) for the employees of the Corporation;

 

vii)
not purchase any equipment out of the ordinary course of business consistent with past custom and practice;

 

viii)
not grant any options or warrants in Common Stock of the Corporation, nor issue any additional Common Stock or Preferred Stock
of the Corporation;

 

ix)
not make any distributions of cash, property or other dividends to the Sellers;

 

    	20

    	 

    

 

x)
Pay off or cancel any inter-company loans or obligations owed by the Company to the Seller(s) or any affiliate of the Seller(s)
or any affiliate of the Company;

 

xi)
pay the attorneys and accountants or other consultants fees for work in connection with this Agreement and the related transactions
described herein which are performed prior to the execution of this Agreement, up to a maximum of $3,000 in legal fees (work following
the Closing of this Agreement shall be the responsibility of the Company; and,

 

xii)
continue to make payments to third parties in the normal course of business consistent with past custom and practice, including,
without limitation, to suppliers, on leases, and the payment of employee payroll type taxes and estimated or final payments with
respect to federal and state income or franchise and sales taxes, including establishing an escrow for taxes due with respect
to periods prior to the Closing.

 

b)
Termination of Incentive Equity Plans. During the period between the execution of this Agreement and the Closing, the Seller(s)
and the Corporation shall take all necessary action to terminate all incentive equity plans of the Corporation, such termination
to be effective concurrently with the Closing.

 

c)
Continuation of 401(k) Plan and other Employee Benefit Plans. The Corporation shall be entitled to continue its existing
401(k) plan and other Employee Benefit Plans until such time as similar plans are established by the Purchaser which cover the
Corporation’s employees.

 

d)
None of the covenants to take actions or not take actions set forth in this Section 5 shall survive Closing.

 

6)
COVENANTS.

 

a)
Best Efforts. Each Purchaser shall use its best efforts to timely satisfy each of the covenants hereunder and conditions
to be satisfied by it as provided in Section 7 of this Agreement. The Corporation shall use its best efforts to timely satisfy
each of the Pre-Closing Covenants, the covenants hereunder and conditions to be satisfied by it as provided in Section 8 of this
Agreement.

 

b)
Blue Sky. The Seller(s) shall, on or before the Closing Date, take such action as the Seller(s) shall reasonably determine
is necessary in order to obtain an exemption for, or to, qualify the Securities for sale to the Purchaser at the Closing pursuant
to this Agreement under applicable securities or “Blue Sky” laws of the states of the United States (or to
obtain an exemption from such qualification), and shall provide evidence of any such action so taken to the Purchasers on or prior
to the Closing Date. Without limiting any other obligation of the Corporation under this Agreement, the Corporation shall timely
make all filings and reports relating to the offer and sale of the Securities required under all applicable securities laws (including,
without limitation, all applicable federal securities laws and all applicable “Blue Sky” laws), and the Seller(s)
shall comply with all applicable foreign, federal, state and local laws, statutes, rules, regulations and the like relating to
the offering and sale of the Securities to the Purchaser.

 

    	21

    	 

    

 

c)
Passive Foreign Investment Corporation. The Corporation shall conduct its business in such a manner as will ensure that
the Corporation will not be deemed to constitute a Passive Foreign Investment Corporation within the meaning of Section 1297 of
the Code.

 

7)
CONDITIONS TO THE SELLER(S) OBLIGATION TO SELL.

 

a)
The obligation of the Seller(s) hereunder to sell the Securities to the Purchaser at the Closing is subject to the satisfaction,
at or before the Closing Date, of each of the following conditions, provided that these conditions are for the Seller(s)’
sole benefit and may be waived by the Seller(s) at any time in its sole discretion by providing each Purchaser with prior written
notice thereof:

 

i)
Such Purchaser shall have executed each of the other Transaction Documents to which it is a party and delivered the same to the
Seller(s) and the Corporation, as applicable.

 

ii)
Such Purchaser shall have delivered to the Seller(s) the Purchase Price for the Securities being purchased by such Purchaser at
the Closing by wire transfer of immediately available funds.

 

iii)
The representations and warranties of such Purchaser shall be true and correct in all material respects as of the date when made
and as of the Closing Date as though originally made at that time (except for representations and warranties that speak as of
a specific date, which shall be true and correct as of such specific date, and except for representations and warranties that
are qualified by materiality, in which case such representations and warranties shall be true and correct in all respects), and
such Purchaser shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions
required by this Agreement to be performed, satisfied or complied with by such Purchaser at or prior to the Closing Date.

 

8)
CONDITIONS TO PURCHASER’S OBLIGATION TO PURCHASE.

 

a)
The obligation of the Purchaser hereunder to purchase the Securities at the Closing is subject to the satisfaction, at or before
the Closing Date, of each of the following conditions, provided that these conditions are for the Purchaser’s sole benefit
and may be waived by the Purchaser at any time in its sole discretion by providing the Seller(s) or the Corporation (as applicable)
with prior written notice thereof:

 

i)
The Seller(s) and Corporation shall have duly executed and delivered to such Purchaser each of the Transaction Documents to which
it is a party and the Seller(s) shall have duly executed and delivered to such Purchaser the aggregate number of Securities set
forth on the Purchase Schedule, being purchased by the Purchaser at the Closing pursuant to this Agreement.

 

    	22

    	 

    

 

ii)
Such Purchaser shall have received the opinion of Corporation’s Attorney, the Corporation’s counsel, dated as of the
Closing Date, in form and substance reasonably acceptable to such Purchaser.

 

iii)
The Corporation shall have delivered to such Purchaser a certificate evidencing the formation and good standing of the Corporation
in such entity’s jurisdiction of formation issued by the Secretary of State (or comparable office) of such jurisdiction
of formation as of a date within ten (10) days of the Closing Date.

 

iv)
The Corporation shall have delivered to such Purchaser a certificate evidencing the Corporation’s qualification as a foreign
corporation and good standing issued by the Secretary of State (or comparable office) of each jurisdiction in which the Corporation
conducts business and is required to so qualify, as of a date within ten (10) days of the Closing Date.

 

v)
The Corporation shall have delivered to such Purchaser a certified copy of its Articles of Incorporation (including any Certificate
of Designations) as certified by the Texas Secretary of State within ten (10) days of the Closing Date.

 

vi)
The Corporation shall have delivered to such Purchaser a certificate, in form and substance reasonably acceptable to such Purchaser,
executed by the Secretary of the Corporation and dated as of the Closing Date, as to (i) the resolutions consistent with Section
3(b) as adopted by the Corporation’s board of directors in form and substance reasonably acceptable to such Purchaser, (ii)
the Articles of Incorporation of the Corporation and (iii) the Bylaws of the Corporation, each as in effect at the Closing.

 

vii)
Each and every representation and warranty of the Seller(s) and the Corporation shall be true and correct as of the date when
made and true and correct in all material respects as of the Closing Date as though originally made at that time (except for representations
and warranties that speak as of a specific date, which shall be true and correct as of such specific date, and except for representations
and warranties that are qualified by materiality, in which case such representations and warranties shall be true and correct
in all respects) and the Seller(s) and the Corporation shall have performed, satisfied and complied in all respects with the covenants,
agreements and conditions required to be performed, satisfied or complied with by the Seller(s) and Corporation at or prior to
the Closing Date. Such Purchaser shall have received a certificate, duly executed by the Chief Executive Officer of the Corporation,
dated as of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by such Purchaser
in form and substance reasonably acceptable to such Purchaser.

 

    	23

    	 

    

 

viii)
The Corporation shall have delivered to such Purchaser a letter from the Corporation’s transfer agent certifying the number
of shares of Common Stock outstanding on the Closing Date immediately prior to the Closing.

 

ix)
The Seller(s) shall have obtained all governmental, regulatory or third-party consents and approvals, if any, necessary for the
sale of the Securities, including without limitation, if any.

 

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

 

xi)
Since the date of execution of this Agreement, no event or series of events shall have occurred that reasonably would have or
result in a Material Adverse Effect.

 

xii)
Such Purchaser shall have received a letter from the Seller(s), duly executed by the Seller(s), setting forth the wire amounts
of each Purchaser and the wire transfer instructions of the Seller(s) (the “Flow of Funds Letter”).

 

xiii)
Purchaser shall have obtained cash proceeds from a financing transaction sufficient to pay the Purchase Price to Seller(s).

 

xiv)
The Corporation shall have delivered to such Purchaser such other documents, instruments or certificates relating to the transactions
contemplated by this Agreement as such Purchaser or its counsel may reasonably request.

 

9)
RESERVED.

 

10)
TERMINATION.

 

a)
This Agreement may be terminated at any time prior to the Closing:

 

i)
By mutual consent of Purchaser and Seller(s); or

 

ii)
By either the Seller(s), or Purchaser if, without fault of the terminating party, the Closing shall not have occurred by the date
for such Closing, which date may be extended only by mutual agreement of Purchaser and Seller(s).

 

iii)
By Seller(s) if Purchaser is unable to obtain the required financing or before Closing.

 

    	24

    	 

    

 

iv)
The date on which this Agreement is terminated pursuant to this Section is herein referred to as the “Termination Date.”

 

b)
Effect of Termination. Except for the obligations contained in Section 10(c) and Section 10(d) below, all obligations of
the parties hereto under this Agreement shall terminate as of the Termination Date, and there shall be no liability, except liability
for any breach of this Agreement prior to such termination, of any party to another party.

 

c)
Expenses on Termination. Each party hereto shall bear its own costs and expenses incurred by it in connection with the
termination of this Agreement in the event this Agreement is terminated.

 

d)
Confidentiality. Upon termination of this Agreement without Closing, the Purchaser, Seller(s) and Corporation will, and
will cause each of their respective affiliates, and their directors, officers, employees, agents, representatives and similarly
situated persons to: (a) treat and hold as confidential, and not use or disclose, all of the information concerning the Seller(s),
the Corporation and the business, the negotiation or existence and terms of this Agreement (“Confidential Information”),
and (b) deliver promptly to the Corporation or destroy, at the option and request of Seller(s), all tangible embodiments (and
all copies) of the Confidential Information which are in such Purchaser’s or Purchaser affiliated persons’ possession.
If the Purchaser is ever requested or required (by oral question or request for information or documents) to disclose any Confidential
Information, such Purchaser will notify the Seller(s) and the Corporation promptly of the request or requirement so that the Seller(s)
or the Corporation may seek an appropriate protective order from a court with competent jurisdiction or waive compliance with
this 10(d).

 

11)
MISCELLANEOUS.

 

a)
Governing Law; Jurisdiction; Jury Trial. All questions concerning the construction, validity, enforcement and interpretation
of this Agreement shall be governed by the internal laws of the State of Delaware, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of Delaware or any other jurisdictions) that would cause the application
of the laws of any jurisdictions other than the State of Delaware. The Corporation hereby irrevocably submits to the exclusive
jurisdiction of the state and federal courts sitting in Delaware, for the adjudication of any dispute hereunder or in connection
herewith or under any of the other Transaction Documents or with any transaction contemplated hereby or thereby, and hereby irrevocably
waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction
of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action
or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served
in any such suit, action or proceeding by mailing a copy thereof to such party at the address for such notices to it under this
Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained
herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein
shall be deemed or operate to preclude any Purchaser from bringing suit or taking other legal action against the Corporation in
any other jurisdiction to collect on the Corporation’s obligations to such Purchaser or to enforce a judgment or other court
ruling in favor of such Purchaser. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A
JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR UNDER ANY OTHER TRANSACTION DOCUMENT OR IN CONNECTION WITH OR ARISING
OUT OF THIS AGREEMENT, ANY OTHER TRANSACTION DOCUMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY.

 

    	25

    	 

    

 

b)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
party. In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document
format (.pdf) file of an executed signature page, such signature page shall create a valid and binding obligation of the party
executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page were an original
thereof.

 

c)
Headings; Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to
include the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,”
“include” and words of like import shall be construed broadly as if followed by the words “without limitation.”
The terms “herein,” “hereunder,” “hereof” and words of like import refer to this entire Agreement
instead of just the provision in which they are found.

 

d)
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified
continues to express, without material change, the original intentions of the parties as to the subject matter hereof and the
prohibited nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective
expectations or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred
upon the parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s).

 

    	26

    	 

    

 

e)
Entire Agreement; Amendments. This Agreement, the other Transaction Documents and the schedules and exhibits attached hereto
and thereto and the instruments referenced herein and therein supersede all other prior oral or written agreements between the
Purchaser, the Seller(s), the Corporation, their affiliates and Persons acting on their behalf, including, without limitation,
any transactions by any Purchaser with respect to the Securities, and the other matters contained herein and therein, and this
Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced
herein and therein contain the entire understanding of the parties solely with respect to the matters covered herein and therein.
Except as specifically set forth herein or therein, neither the Seller(s), the Corporation nor any Purchaser makes any representation,
warranty, covenant or undertaking with respect to such matters. For clarification purposes, the Recitals are part of this Agreement.
No provision of this Agreement may be amended or waived other than by an instrument in writing signed by the Seller(s) or Corporation
and the Purchaser, and any amendment or waiver to any provision of this Agreement made in conformity with the provisions of this
Section 11(e) shall be binding on the Purchaser and holders of Securities, as applicable. The Corporation has not, directly or
indirectly, made any agreements with the Purchaser relating to the terms or conditions of the transactions contemplated by the
Transaction Documents except as set forth in the Transaction Documents. As a material inducement for the Purchaser to enter into
this Agreement, the Seller(s) and the Corporation expressly acknowledges and agrees that (x) no due diligence or other investigation
or inquiry conducted by the Purchaser, any of its advisors or any of its representatives shall affect such Purchaser’s right
to rely on, or shall modify or qualify in any manner or be an exception to any of, the Seller(s)’ and Corporation’s
representations and warranties contained in this Agreement or any other Transaction Document.

 

f)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon
receipt, when sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on
file by the sending party) or electronic mail; or (iii) 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 e-mail addresses for such communications shall be:

 

If
to the Corporation:

 

UNITED
WELDING SPECIALITIES OF LONGVIEW, INC.

103
E. Niblick

Longview,
Texas 75604

Telephone:
(903) 593-7343

Attention:
Ronald Jered Ruyle, President

E-Mail:
jered@tylerweldersgroup.com

 

    	27

    	 

    

 

If
to the Seller(s):

 

TYLER
WELDER’S SUPPLY, INC.

3539
U.S. Hwy 271

Tyler,
Texas 75708

(903)
360-8977

Attention:
Ronald Jered Ruyle, President

E-Mail:
jered@tylerweldersgroup.com

 

If
to the Purchaser:

 

MagneGas
Applied Technology Solutions, Inc.

11885
44th Street North

Clearwater,
FL 33762

Attention:
General Counsel

E-mail:
tylerwilson@magnegas.com

 

or
to such other address, e-mail address and/or facsimile number and/or to the attention of such other Person as the recipient party
has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written confirmation
of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or electronically
generated by the sender’s facsimile machine or e-mail containing the time, date, recipient facsimile number and, with respect
to each facsimile transmission, an image of the first page of such transmission or (C) provided by an overnight courier service
shall be rebuttable evidence of personal service, receipt by facsimile or receipt from an overnight courier service in accordance
with clause (i), (ii) or (iii) above, respectively.

 

g)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns. The parties shall not assign this Agreement or any rights or obligations hereunder without the prior written
consent of the other parties.

 

h)
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective permitted
successors and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, other than
the Indemnitees referred to in Section 11(k).

 

i)
Survival. The representations, warranties, agreements and covenants shall survive the Closing. Each Purchaser shall be
responsible only for its own representations, warranties, agreements and covenants hereunder.

 

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

 

    	28

    	 

    

 

k)
Indemnification.

 

i)
In consideration of the Purchaser’s execution and delivery of the Transaction Documents and acquiring the Securities thereunder
and in addition to all of the Corporation’s other obligations under the Transaction Documents, the Seller(s) and Corporation
shall defend, protect, indemnify and hold harmless the Purchaser and each holder of any Securities and all of their stockholders,
partners, members, officers, directors, employees and direct or indirect investors and any of the foregoing Persons’ agents
or other representatives (including, without limitation, those retained in connection with the transactions contemplated by this
Agreement) (collectively, the “Indemnitees”) from and against any and all actions, causes of action, suits,
claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective of whether
any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable attorneys’
fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result of, or arising
out of, or relating to (i) any misrepresentation or breach of any representation or warranty made by the Seller(s) and Corporation
in any of the Transaction Documents, (ii) any breach of any covenant, agreement or obligation of the Seller(s) or Corporation
contained in any of the Transaction Documents or (iii) any cause of action, suit, proceeding or claim brought or made against
such Indemnitee by a third party, including for these purposes a derivative action brought on behalf of the Seller(s) or Corporation
or which otherwise involves such Indemnitee that arises out of or results from (A) the execution, delivery, performance or enforcement
of any of the Transaction Documents, or (B) the status of such Purchaser or holder of the Securities either as an investor in
the Corporation pursuant to this Agreement. To the extent that the foregoing undertaking by the Corporation may be unenforceable
for any reason, the Corporation shall make the maximum contribution to the payment and satisfaction of each of the Indemnified
Liabilities which is permissible under applicable law.

 

    	29

    	 

    

 

ii)
Promptly after receipt by an Indemnitee under this Section 11(k) of notice of the commencement of any action or proceeding (including
any governmental action or proceeding) involving an Indemnified Liability, such Indemnitee shall, if a claim in respect thereof
is to be made against the Seller(s) or Corporation under this Section 11(k), deliver to the Seller(s) and Corporation a written
notice of the commencement thereof, and the Seller(s) and the Corporation shall have the right to participate in, and, to the
extent the Seller(s) or the Corporation so desires, to assume control of the defense thereof with counsel mutually satisfactory
to the Seller(s) or the Corporation and the Indemnitee; provided, however, that an Indemnitee shall have the right to retain its
own counsel with the fees and expenses of such counsel to be paid by the Seller(s) or the Corporation if: (A) the Seller(s) or
the Corporation has agreed in writing to pay such fees and expenses; (B) the Seller(s) or Corporation shall have failed promptly
to assume the defense of such Indemnified Liability and to employ counsel reasonably satisfactory to such Indemnitee in any such
Indemnified Liability; or (C) the named parties to any such Indemnified Liability (including any impleaded parties) include both
such Indemnitee and the Corporation or the Seller(s), and such Indemnitee shall have been advised by counsel that a conflict of
interest is likely to exist if the same counsel were to represent such Indemnitee and the Corporation or the Seller(s) (in which
case, if such Indemnitee notifies the Corporation or Seller(s) in writing that it elects to employ separate counsel at the expense
of the Seller(s) or the Corporation, then the Seller(s) or Corporation shall not have the right to assume the defense thereof
and such counsel shall be at the expense of the Seller(s) or the Corporation), provided further, that in the case of clause (C)
above the Seller(s) or Corporation shall not be responsible for the reasonable fees and expenses of more than one (1) separate
legal counsel for the Indemnitees. The Indemnitee shall reasonably cooperate with the Seller(s) or the Corporation in connection
with any negotiation or defense of any such action or Indemnified Liability by the Seller(s) or the Corporation and shall furnish
to the Seller(s) or the Corporation all information reasonably available to the Indemnitee which relates to such action or Indemnified
Liability. The Seller(s) or the Corporation shall keep the Indemnitee reasonably apprised at all times as to the status of the
defense or any settlement negotiations with respect thereto. The Seller(s) or the Corporation shall not be liable for any settlement
of any action, claim or proceeding effected without its prior written consent, provided, however, that the Seller(s) or the Corporation
shall not unreasonably withhold, delay or condition its consent. The Seller(s) or Corporation shall not, without the prior written
consent of the Indemnitee, consent to entry of any judgment or enter into any settlement or other compromise which does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnitee of a release from all liability in
respect to such Indemnified Liability or litigation, and such settlement shall not include any admission as to fault on the part
of the Indemnitee. Following indemnification as provided for hereunder, the Seller(s) or the Corporation shall be subrogated to
all rights of the Indemnitee with respect to all third parties, firms or corporations relating to the matter for which indemnification
has been made. The failure to deliver written notice to the Seller(s) or Corporation within a reasonable time of the commencement
of any such action shall not relieve the Seller(s) or Corporation of any liability to the Indemnitee under this Section 11(k),
except to the extent that the Seller(s) or Corporation is materially and adversely prejudiced in its ability to defend such action.

 

iii)
The indemnification required by this Section 11(k) shall be made by periodic payments of the amount thereof during the course
of the investigation or defense, within ten (10) days after bills are received or Indemnified Liabilities are incurred.

 

iv)
The indemnity agreement contained herein shall be in addition to (A) any cause of action or similar right of the Indemnitee against
the Seller(s), the Corporation or others, and (B) any liabilities the Seller(s) or the Corporation may be subject to pursuant
to the law.

 

l)
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party. No specific representation or warranty shall
limit the generality or applicability of a more general representation or warranty.

 

    	30

    	 

    

 

m)
Remedies. Each Purchaser and in the event of assignment by Purchaser of its rights and obligations hereunder, each holder
of Securities, shall have all rights and remedies set forth in the Transaction Documents and all rights and remedies which such
holders have been granted at any time under any other agreement or contract and all of the rights which such holders have under
any law. Any Person having any rights under any provision of this Agreement shall be entitled to enforce such rights specifically
(without posting a bond or other security), to recover damages by reason of any breach of any provision of this Agreement and
to exercise all other rights granted by law. Furthermore, the Seller(s) and the Corporation recognize that in the event that it
fails to perform, observe, or discharge any or all of its obligations under the Transaction Documents, any remedy at law would
inadequate relief to the Purchasers. The Seller(s) and the Corporation therefore agree that the Purchasers shall be entitled to
specific performance and/or temporary, preliminary and permanent injunctive or other equitable relief from any court of competent
jurisdiction in any such case without the necessity of proving actual damages and without posting a bond or other security. The
remedies provided in this Agreement and the other Transaction Documents shall be cumulative and in addition to all other remedies
available under this Agreement and the other Transaction Documents, at law or in equity (including a decree of specific performance
and/or other injunctive relief).

 

n)
Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
the Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and
the Seller(s) or Corporation does not timely perform its related obligations within the periods therein provided, then such Purchaser
may rescind or withdraw, in its sole discretion from time to time upon written notice to the Seller(s) or the Corporation, any
relevant notice, demand or election in whole or in part without prejudice to its future actions and rights.

 

o)
Payment Set Aside; Currency. To the extent that the Seller(s) or the Corporation makes a payment or payments to the Purchaser
hereunder or pursuant to any of the other Transaction Documents or the Purchaser enforce or exercise their rights hereunder or
thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently
invalidated, declared to be fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded,
repaid or otherwise restored to the Seller(s) or the Corporation, a trustee, receiver or any other Person under any law (including,
without limitation, any bankruptcy law, foreign, state or federal law, common law or equitable cause of action), then to the extent
of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full
force and effect as if such payment had not been made or such enforcement or setoff had not occurred. Unless otherwise expressly
indicated, all dollar amounts referred to in this Agreement and the other Transaction Documents are in United States Dollars (“U.S.
Dollars”), and all amounts owing under this Agreement and all other Transaction Documents shall be paid in U.S. Dollars.

 

p)
Fees and Expenses. Except as otherwise expressly provided in this Agreement, each party will bear its own costs and expenses
incurred in connection with the preparation, execution and performance of this Agreement and the transactions contemplated hereunder,
including all fees and expenses of agents, representatives, financial advisors, legal counsel and accountants.

 

    	31

    	 

    

 

q)
Confidentiality. The Seller(s) and the Corporation will, and will cause each of its respective affiliates, and its and
their directors, officers, employees, agents, representatives and similarly situated persons to: (a) treat and hold as confidential,
and not use or disclose, all of the information concerning the negotiation or existence and terms of this Agreement and the business
affairs of the Purchaser (“Confidential Information”), except for disclosures to their respective professional
advisors, and (b) deliver promptly to the Seller(s) or the Corporation or the Purchasers, as appropriate or destroy, at the option
and request of a Purchaser, all tangible embodiments (and all copies) of the Confidential Information which are in the Seller(s)’,
Corporation’s, or its affiliates possession. If the Seller(s) or the Corporation or its affiliates is ever requested or
required (by oral question or request for information or documents) to disclose any Confidential Information, the Corporation
will notify the Purchaser promptly of the request or requirement so that the Purchaser may seek an appropriate protective order
from a court with competent jurisdiction or waive compliance with this Section ‎11(q).

 

[Signature
Pages Follow]

 

[The
Remainder of This Page is Intentionally Blank]

 

    	32

    	 

    

 

IN
WITNESS WHEREOF, each Seller(s), Purchaser and the Corporation have caused their respective signature page to this Agreement
to be duly executed as of the date first written above.

 

	 	CORPORATION:
	 	 	 
	 	TYLER
    WELDERS SUPPLY, INC. 
	 	 	 
	 	By:
    	/s/
    Ronald Ruyle                  
	 	Name: 	Ronald
    Jered Ruyle
	 	Title:	President

 

    	33

    	 

    

 

IN
WITNESS WHEREOF, each Seller(s), Purchaser and the Corporation have caused their respective signature page to this Agreement
to be duly executed as of the date first written above.

 

	 	SELLER:
	 	 
	 	TYLER
    WELDERS SUPPLY, INC.
	 	 
	 	/s/
    Ronald Ruyle
	 	RONALD
    JERED RUYLE, PRESIDENT

 

    	34

    	 

    

 

IN
WITNESS WHEREOF, each Seller(s), Purchaser and the Corporation have caused their respective signature page to this Agreement
to be duly executed as of the date first written above.

 

 

	 	PURCHASER:
	 	 	 
	 	MAGNEGAS APPLIED TECHNOLOGY SOLUTIONS, INC.

	 	 	 
	 	By:	/s/
    Ermanno     Santilli
	 	Name: 	Ermanno
    Santilli
	 	Title:	Chief
    Executive Officer

 

    	35

    	 

    

 

PURCHASER
SCHEDULE

 

	(1)	 	(2)	 	 	(3)		 	 	(4)		 	 	(5)		 	(6)
	Purchaser	 	Seller	 	 	Aggregate
 Number of Securities
 
	 	 	 	Date of Purchase 
	 	 	 	Purchase Price
	 	 	Legal

                                                                                                                                              Representative’s
 Contact Information
 

	MagneGas Applied Technology Solutions, Inc.	 	Tyler Welder’s Supply, Inc.	 	 	100	 	 	 	 	 	 	$	750,000	 	 	MagneGas Corporation 
11885 44th Street N. 
Clearwater, FL 33762 
Telephone: (509) 953-3059 
E-mail:

                                 tylerwilson@magnegas.com 
Attention: Tyler B. Wilson, Esq.

	TOTAL	 	 	 	 	100	 	 	 	 	 	 	$	750,000	 	 	 

 

    	36

    	 

    

 

Schedule
3(p)

“Transactions
with Affiliates”

 

    	37

    	 

    

 

Schedule
3(q)(iii)

“Valid
Issuance; Available Shares; Affiliates”

 

    	38

    	 

    

 

Schedule
3(r)

“Other
Indebtedness and Contracts”

 

    	39

    	 

    

 

Schedule
3(s)

“Litigation”

 

    	40

    	 

    

 

Schedule
3(w)(i)

“Intellectual
Property”

 

    	41

    	 

    

 

Schedule
3(w)(ii)

“Expired
Intellectual Property Rights”

 

    	42

    	 

    

 

Schedule
3(hh)

“Bad-Actor
Disclosures”

 

    	43

    	 

    

 

Schedule
3(ss)(i)

“Material
Contracts”

 

    	44

    	 

    

 

Schedule
3(ss)(ii)

“Customers”

 

    	45

    	 

    

 

Schedule
3(ss)(iii)

“Suppliers”

 

    	46

    	 

    

 

Schedule
3(tt)

“Employee
Benefits”

 

    	47

    	 

    

 

Schedule
3(uu)

“Receivables”

 

    	48

    	 

    

 

Schedule
4(a)

“Selling
Securities Holders”

 

    	49

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