Document:

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights
Agreement (this “Agreement”) is made and entered into as of June 30, 2017, between Hoth Therapeutics, Inc.,
a Nevada corporation (the “Company”), and each of the several purchasers signatory hereto (each such purchaser,
a “Purchaser” and, collectively, the “Purchasers”).

 

This Agreement is made
pursuant to the Securities Purchase Agreement, dated as of the date hereof, between the Company and each Purchaser (the “Purchase
Agreement”).

 

The Company and each
Purchaser hereby agrees as follows:

 

1.            Definitions.

 

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

 

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

 

“Effectiveness
Date” means, with respect to the Initial Registration Statement required to be filed hereunder, the eighteen (18) month
anniversary of the Closing Date and, with respect to any additional Registration Statements which may be required pursuant to Section
2(c), the earliest practical date on which the Company is permitted to go effective on such additional Registration Statement;
provided, however, that, in the event the Company is notified by the Commission that one or more of the above Registration
Statements will not be reviewed or is no longer subject to further review and comments, the Effectiveness Date as to such Registration
Statement shall be the fifth Trading Day following the date on which the Company is so notified if such date precedes the dates
otherwise required above.

 

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

 

Filing
Date” means, with respect to the Initial Registration Statement required hereunder, the twelve (12) month anniversary
of the Closing Date and, with respect to any additional Registration Statements which may be required pursuant to Section 2(c),
the earliest practical date on which the Company is permitted by SEC Guidance to file such additional Registration Statement related
to the Registrable Securities.

 

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

 

     

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

“Registrable
Securities” means, as of any date of determination, (a) all Shares and (b) any securities issued or then issuable upon
any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing.

 

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

 

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

 

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

 

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

 

2.            Registration.

 

(a)          On
or prior to each Filing Date, the Company shall prepare and file with the Commission a Registration Statement covering the resale
of all of the Registrable Securities that are not then registered on an effective Registration Statement for an offering to be
made on a continuous basis pursuant to Rule 415. Each Registration Statement filed hereunder shall be on Form S-1 and shall contain
substantially the “Plan of Distribution” attached hereto as Annex A; provided, however,
that no Holder shall be required to be named as an “underwriter” without such Holder’s express prior written
consent. Subject to the terms of this Agreement, the Company shall use its best efforts to cause a Registration Statement filed
under this Agreement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in
any event no later than the applicable Effectiveness Date, and shall use its best efforts to keep such Registration Statement continuously
effective under the Securities Act until the date that all Registrable Securities covered by such Registration Statement (i) have
been sold, thereunder or pursuant to Rule 144, or (ii) may be sold without volume or manner-of-sale restrictions pursuant to Rule
144 and without the requirement for the Company to be in compliance with the current public information requirement under Rule
144, as determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable
to the Transfer Agent and the affected Holders (the “Effectiveness Period”). The Company shall telephonically
request effectiveness of a Registration Statement as of 5:00 p.m. (New York City time) on a Trading Day. The Company shall, by
9:30 a.m. (New York City time) on the Trading Day after the effective date of such Registration Statement, file a final Prospectus
with the Commission as required by Rule 424.

 

(b)          
Notwithstanding the registration obligations set forth in Section 2(a), if the Commission informs the Company that all of the Registrable
Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration
statement, the Company agrees to promptly inform each of the Holders thereof and use its commercially reasonable efforts to file
amendments to the Initial Registration Statement as required by the Commission, covering the maximum number of Registrable Securities
permitted to be registered by the Commission, on Form S-1 or such other form available to register for resale the Registrable Securities
as a secondary offering; provided, however, that, prior to filing such amendment, the Company shall be obligated
to use diligent efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance
with the SEC Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09.

 

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

 

		a.	First, the Company shall reduce or eliminate any securities
to be included other than Registrable Securities; and

 

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

 

In the event the Company amends
the Initial Registration Statement in accordance with the foregoing, the Company will use its best efforts to file with the Commission,
as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or
more registration statements on Form S-1 or such other form available to register for resale those Registrable Securities that
were not registered for resale on the Initial Registration Statement, as amended. Notwithstanding anything to the contrary contained
herein, in no event shall the Company be permitted to name any Holder or affiliate of a Holder as any Underwriter without the
prior written consent of such Holder.

 

3.              Registration
Procedures.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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4.            Registration
Expenses. All fees and expenses incident to the performance of or compliance with this Agreement by the Company shall be borne
by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred
to in the foregoing sentence shall include, without limitation, (i) all registration and filing fees (including, without limitation,
fees and expenses of the Company’s counsel and independent registered public accountants) (A) with respect to filings made
with the Commission, (B) with respect to filings required to be made with any Trading Market on which the Common Stock is then
listed for trading, and (C) in compliance with applicable state securities or Blue Sky laws reasonably agreed to by the Company
in writing (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications
or exemptions of the Registrable Securities), (ii) printing expenses (including, without limitation, expenses of printing certificates
for Registrable Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Company,
(v) Securities Act liability insurance, if the Company so desires such insurance, and (vi) fees and expenses of all other Persons
retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the
Company shall be responsible for all of its internal expenses incurred in connection with the consummation of the transactions
contemplated by this Agreement, the expense of any annual audit, and the fees and expenses incurred in connection with the listing
of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company be responsible for
any broker or similar commissions of any Holder.

 

5.            Indemnification.

 

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

 

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(b)      Indemnification
by Holders. Each Holder shall, severally and not jointly, indemnify and hold harmless the Company, its directors, officers,
agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted
by applicable law, from and against all Losses, as incurred, to the extent arising out of or based solely upon: any untrue or alleged
untrue statement of a material fact contained in any Registration Statement, any Prospectus, or in any amendment or supplement
thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact
required to be stated therein or necessary to make the statements therein (in the case of any Prospectus or supplement thereto,
in light of the circumstances under which they were made) not misleading (i) to the extent, but only to the extent, that such untrue
statement or omission is contained in any information so furnished in writing by such Holder to the Company expressly for inclusion
in such Registration Statement or such Prospectus or (ii) to the extent, but only to the extent, that such information relates
to such Holder’s information provided in the Holder’s selling stockholder questionnaire or the proposed method of distribution
of Registrable Securities and was reviewed and expressly approved in writing by such Holder expressly for use in a Registration
Statement (it being understood that the Holder has approved Annex A hereto for this purpose), such Prospectus or in any amendment
or supplement thereto. In no event shall the liability of a selling Holder be greater in amount than the dollar amount of the proceeds
(net of all expenses paid by such Holder in connection with any claim relating to this Section 5 and the amount of any damages
such Holder has otherwise been required to pay by reason of such untrue statement or omission) received by such Holder upon the
sale of the Registrable Securities included in the Registration Statement giving rise to such indemnification obligation.

 

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

 

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

 

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

 

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

 

The parties
hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata
allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
immediately preceding paragraph. In no event shall the contribution obligation of a Holder of Registrable Securities be greater
in amount than the dollar amount of the proceeds (net of all expenses paid by such Holder in connection with any claim relating
to this Section 5 and the amount of any damages such Holder has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission) received by it upon the sale of the Registrable Securities giving rise to such
contribution obligation.

 

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

 

6.            Miscellaneous.

 

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

 

(b)         No
Piggyback on Registrations. Neither the Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in any Registration Statements other than the Registrable Securities, except with
the prior consent of the Holders.

 

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

 

(d)         Piggy-Back
Registrations. If, at any time during the Effectiveness Period, there is not an effective Registration Statement covering all
of the Registrable Securities and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities,
other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity
securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection
with the Company’s stock option or other employee benefit plans, then the Company shall deliver to each Holder a written
notice of such determination and, if within fifteen days after the date of the delivery of such notice, any such Holder shall so
request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities such
Holder requests to be registered.

 

    	 	12	 

     

    

 

(e)         Amendments
and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given, unless the same shall be in writing and signed
by the Company and the Holders of at least a majority of the then outstanding Registrable Securities. If a Registration Statement
does not register all of the Registrable Securities pursuant to a waiver or amendment done in compliance with the previous sentence,
then the number of Registrable Securities to be registered for each Holder shall be reduced pro rata among all Holders and each
Holder shall have the right to designate which of its Registrable Securities shall be omitted from such Registration Statement.
No consideration shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of this
Agreement unless the same consideration also is offered to all of the parties to this Agreement.

 

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

 

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

 

(h)         No
Inconsistent Agreements. Neither the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the
Company or any of its Subsidiaries, on or after the date of this Agreement, enter into any agreement with respect to its securities,
that would have the effect of impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions
hereof.

 

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

 

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

 

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

 

    	 	13	 

     

    

 

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

 

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

 

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

 

(Signature Pages Follow)

 

    	 	14	 

     

    

 

Exhibit 10.2

 

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

 

	 	hoth therapeutics, inc.
	 	 	 
	 	By:	/s/ Robb Knie
	 	 	Name: Robb Knie
	 	 	Title: Chief Executive Officer

 

[SIGNATURE PAGE OF HOLDERS FOLLOWS]

 

    	 		 

     

    

 

Exhibit 10.2

 

[SIGNATURE
PAGE OF HOLDERS TO hoth therapeutics RRA]

 

Name of Holder: Spherix Incorporated

 

Signature of Authorized Signatory of Holder: /s/ Anthony
Hayes

 

Name of Authorized Signatory: Anthony Hayes

 

Title of Authorized Signatory: CEO

 

[SIGNATURE PAGES CONTINUE]

 

     

     

    

 

Annex A

 

Plan of Distribution

 

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

 

		·	ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

		·	block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion
of the block as principal to facilitate the transaction;

 

		·	purchases by a broker-dealer as principal and resale by the broker-dealer for its account;

 

		·	an exchange distribution in accordance with the rules of the applicable exchange;

 

		·	privately negotiated transactions;

 

		·	settlement of short sales;

 

		·	in transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities
at a stipulated price per security;

 

		·	through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise;

 

		·	a combination of any such methods of sale; or

 

		·	any other method permitted pursuant to applicable law.

 

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

 

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

 

    	 	2	 

     

    

 

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

 

The Selling Stockholders
and any broker-dealers or agents that are involved in selling the securities may be deemed to be “underwriters” within
the meaning of the Securities Act in connection with such sales. In such event, any commissions received by such broker-dealers
or agents and any profit on the resale of the securities purchased by them may be deemed to be underwriting commissions or discounts
under the Securities Act. Each Selling Stockholder has informed the Company that it does not have any written or oral agreement
or understanding, directly or indirectly, with any person to distribute the securities.

 

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

 

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

 

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

  

    	 	3Exhibit 10.3

 

FORM OF SHAREHOLDERS AGREEMENT

 

THIS SHAREHOLDERS AGREEMENT
(this “Agreement”) is made effective this 30th day of June, 2017 (the “Effective Date”), by Hoth
Therapeutics, Inc., a corporation organized under the laws of the state of Nevada (the “Corporation”), the persons
named on Exhibit “A” attached hereto and any other persons or entities which hereafter join in this Agreement (individually,
a “Shareholder” and collectively, the “Shareholders”).

 

RECITALS

 

WHEREAS, a Certificate
of Incorporation (as may be amended from time to time, the “Certificate”) for the Corporation has been filed
with the Office of the Nevada Secretary of State on May 16, 2017 pursuant to the Nevada Revised Statutes (the “Act”);

 

WHEREAS, the
Shareholders are the owners of all of the issued and outstanding shares of common stock, par value $0.0001 per share (the “Shares”),
of the Corporation;

 

WHEREAS, each
Shareholder owns the number of Shares set forth opposite that Shareholder’s name on Exhibit A (as such exhibit may be amended
from time-to-time); and

 

WHEREAS, the
parties desire to enter into an agreement with respect to the Corporation, governance of the Corporation, transfer or other disposition
of the Shares and with respect to certain other matters as set forth herein.

 

NOW, THEREFORE,
the Shareholders hereby agree as follows:

 

ARTICLE 1

RESTRICTIONS
ON TRANSFER

 

1.1           Restrictions
on Transfer. No Shareholder shall Transfer (as defined below) the whole or any part of the Shares, or the certificate or
certificates representing the same, now owned by that Shareholder or which that Shareholder may at any time own or be entitled
to in the Corporation, and any successors of the Corporation, except in accordance with this Agreement, the Corporation’s
Bylaws or with the prior written consent of all the Shareholders. The Corporation shall not reflect on its books any attempted
Transfer of Shares, or issue any new Shares, except in compliance with all of the applicable conditions of this Agreement. When
used in this Agreement, the term “Transfer” or “Transferred” shall mean to directly or indirectly
sell, assign, give, mortgage, pledge, hypothecate, bequeath or in any manner encumber or dispose of, or permit to be sold, assigned,
encumbered, attached or otherwise disposed of in any matter, whether voluntarily or by operation of law. Any attempted Transfer
in violation of the terms of this Agreement shall be null, void and of no effect.

 

    	 	-1-	 

     

    

 

1.2           Permitted
Transfers. Notwithstanding the foregoing, any Transfer by a Shareholder (i) with respect any Shareholder that is an individual,
to a trust or other entity wholly owned by or established for the benefit of such Shareholder or exclusively for the benefit of
a parent, spouse, sibling or descendant of such Shareholder or (ii) with respect to any Shareholder that is an entity, to an affiliated
entity controlled by or under common control with such Shareholder (any such Transferee, a “Permitted Transferee”)
shall not require the consent of any other Shareholders, provided the Shareholder retains direct or indirect voting control with
respect to such Shares, and provided further that the Corporation is provided with a copy of this Agreement or a joiner hereto
executed by such Permitted Transferee agreeing to be bound by the terms and conditions of this Agreement; provided, however,
that, with respect to any Shareholder that is an entity that files reports with the Securities and Exchange Commission pursuant
to Securities Exchange Act of 1934, as amended (“Exchange Act”), or an affiliated entity controlled by or under
common control with such Shareholder, the shareholders of such Shareholder or such affiliated entity shall be a Permitted Transferee.
For the avoidance of doubt, any Transfer to a Permitted Transferee shall not be subject to the requirements of Sections 2.1, 3.2,
3.3 or 4.1 of this Agreement, but the Shares, and any subsequent Transfer or attempted Transfer by of the Shares by a Permitted
Transferee, shall remain subject to all restrictions set forth in this Agreement, including without limitation such Sections.

 

1.3           Legend.
Any certificates representing Shares shall contain substantially the following provision, which shall bind any persons asserting
any interest in the certificates and the Shares they represent:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE
ARE SUBJECT TO THE TERMS OF A CERTAIN SHAREHOLDERS AGREEMENT, DATED EFFECTIVE JUNE __, 2017 (AS AMENDED FROM TIME-TO-TIME), BY
AND AMONG THE CORPORATION AND ITS SHAREHOLDERS, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL OFFICE OF THE CORPORATION. NEITHER
THIS CERTIFICATE NOR THE SHARES EVIDENCED HEREBY NOR ANY PORTION THEREOF, MAY BE OFFERED, PLEDGED, HYPOTHECATED, SOLD OR TRANSFERRED
IN VIOLATION OF SAID AGREEMENT, AND ANY SUCH PURPORTED TRANSFER SHALL BE NULL, VOID AND OF NO EFFECT.

 

Each Shareholder shall deliver to the Corporation
all certificates representing that Shareholder’s Shares, and the Corporation shall place the above legend on the certificates
and return them to the Shareholders. Certificates representing any new Shares issued by the Corporation while this Agreement is
in effect shall bear the above legend.

 

ARTICLE 2

GOVERNANCE

 

2.1          Shareholder
and Director Voting. The Shareholders covenant and agree, one to the other, that they shall, at all times and from time
to time, if lawfully permitted to do so, vote or cause to be voted their Shares and, if applicable, vote as a Director of the Corporation,
to propose or approve any action required to be taken by the Corporation pursuant to this Agreement, including any amendments of
the Certificate or Bylaws of the Corporation, reduction of its capital, reappraisal of its assets, or other corporate action that
may be necessary in order to lawfully effectuate any action specifically required to be taken by the Corporation pursuant to this
Agreement.

 

    	 	-2-	 

     

    

 

2.2          Directors.

 

(a)          Number.
Notwithstanding anything to the contrary in the Corporation’s Bylaws, the Board of Directors shall consist of the four (4)
individuals and the directors shall be those individuals named on Exhibit “A” as directors as of the Effective Date.
The number of directors comprising the Board of Directors shall not be increased or decreased without the unanimous consent of
the Board of Directors.

 

(b)          Designated
Director. Spherix Incorporated (“Spherix”) shall have the right to appoint one director to the Board of
Directors. For so long as Spherix owns at least 10% of the issued and outstanding shares of common stock of the Corporation, Spherix
shall have the right to designate one director to the Board of Directors (such person, “Spherix Director”) at
each election of the Board of Directors, and the Shareholders covenant and agree that, during such period, they shall vote or cause
to be voted their Shares in favor of the director designated by Spherix at each election of the Board of Directors. A Spherix Director
may be removed from the Board of Directors at any time, with or without cause, only at the direction of Spherix. If a vacancy is
created on the Board of Directors as a result of the death, disability, retirement, resignation or removal of a Spherix Director,
Spherix shall have right to designate a director to fill such vacancy.

 

(c)          Election
of Board. After the Board of Directors has completed its term, the Shareholders may elect directors by unanimous written consent
or by secret ballot, with those individuals receiving the most votes being deemed elected, subject to Spherix’s right to
designate the Spherix Director pursuant to Section 2.2(b). In the event of a tie, a runoff election will be held within forty-eight
(48) hours of the first vote among those individuals receiving the same number of votes to determine the remaining Directors of
the Board.

 

(d)          Term.
Directors shall serve a one (1) year term. Newly elected Directors shall take office at the next regularly scheduled meeting of
the Board of Directors following their election.

 

(e)          Quorum.
Seventy five percent (75%) of the number of Directors prescribed by this Agreement constitutes a quorum for the transaction of
business. Unless otherwise restricted by the Certificate, Directors of the Board may participate in a meeting of the Board by means
of telephonic or video conference or other communications equipment by means of which all persons participating in the meeting
can hear each other, and such participation in a meeting shall constitute presence in person at the meeting.

 

(f)          Voting.
If a quorum is present when a vote is taken, the affirmative vote of more than fifty percent (50%) of the number of Directors present,
shall be an act of the Board of Directors. Each Director shall have one vote.

 

2.3          Devotion
of Time. The Directors shall not be obligated to devote all of their time or business efforts to the Corporation’s
affairs, but shall devote that amount of their time, effort and skill to the Corporation as may be reasonably necessary for the
ongoing operations of the Corporation’s affairs.

 

    	 	-3-	 

     

    

 

2.4           Remuneration.

 

(a)          Reimbursement.
The Corporation shall reimburse a Director for all reasonable and ordinary expenses that such Director incurs or pays in connection
with managing the Corporation’s business and affairs and otherwise rendering the services as and when required of such Director
hereunder, including expenses relating to travel, meals, marketing and promotional efforts.

 

(b)          No
Other Remuneration. Except as provided above in this Section 2.4 or elsewhere in this Agreement, neither a Director nor any
affiliate of a Director shall be entitled to remuneration for services rendered or goods provided to or for the benefit of the
Corporation unless otherwise determined by Shareholders’ approval.

 

2.5           Distributions.
The Shareholders acknowledge and agree that it shall be the policy of the Corporation that the Corporation will not pay any dividends
or other distributions to the Shareholders until after the first anniversary of its date of incorporation. After such date, any
dividends declared by the Corporation to be paid to the Shareholders shall be determined by the Board of Directors, in its sole
and absolute discretion, on a quarterly basis out of funds legally available therefore, after the establishment of adequate reserves
set in good faith by the Board of Directors.

 

ARTICLE 3

PRE-EMPTIVE, DRAG ALONG & TAG ALONG RIGHTS

 

3.1           Preemptive
Rights.

 

(a)          In
the event that the Corporation proposes to issue additional shares of its capital stock, whether or not currently authorized, as
well as rights, options, or warrants to purchase any equity securities of the Corporation, or securities of any type whatsoever
that are, or may become, convertible or exchangeable into or exercisable (in each case, directly or indirectly) for such equity
securities (“New Shares”) at a time when any Shareholder who has executed this Agreement continues to be an
owner of Shares, the Corporation shall provide to each such Shareholder a notice which shall constitute an offer to such Shareholder
to purchase (for the price and on the terms established by the Corporation for all purchasers of New Shares as set forth in the
notice) such portion of the New Shares so offered for sale as the number of Shares owned by him or her at such time shall bear
to the total number of Shares owned by all shareholders of the Corporation (such Shareholder’s “Pro Rata Portion”).
Each such Shareholder shall inform the Corporation of his or her election to exercise its preemptive right under this Section 3.1
with respect to all or any portion of his or her Pro Rata Portion within fifteen (15) days of receipt of the Corporation’s
notice.

 

(b)          If
all New Shares referred to in the Corporation’s notice are not elected to be purchased or acquired by the Shareholders pursuant
to Section 3.1(a), the Corporation may, following the expiration of the fifteen (15) day period provided in Section 4.1(a), offer
and sell the remaining unsubscribed portion of such New Shares to any person or persons at a price not less than, and upon terms
no more favorable to the offeree than, those specified in the Shareholders’ offer notices. If the Corporation does not enter
into an agreement for the sale of the New Shares within sixty (60) days, or if such agreement is not consummated within thirty
(30) days of the execution thereof, the preemptive right provided hereunder shall be deemed to be revived and such New Shares shall
not be offered unless first reoffered to the Shareholders again in accordance with this Section 3.1.

 

    	 	-4-	 

     

    

 

3.2           Drag-Along
Right. 

 

(a)          In
the event the holders of a majority or more of the voting shares of the Corporation (the “Control Group”) elect
to transfer all of the shares of stock owned by them to an unaffiliated third party (a “Third Party”) (including
any transfer of shares that is being effected by a merger or consolidation of the Corporation with another person), the Control
Group shall have the right (the “Drag-Along Right”) to cause each of the Shareholders as a group to transfer
all of their Shares to the Third Party (or to exchange such shares pursuant to the terms of such merger or consolidation) at the
same price and on the same terms and conditions as the Control Group proposes to transfer their Shares.

 

(b)          The
Control Group may elect to exercise the Drag-Along Right by delivering written notice to the Shareholders and the Corporation thirty
(30) days prior to the consummation of the transfer described in Section 3.2(a) above. The notice delivered pursuant to this subsection
will contain a copy of the definitive documentation pursuant to which the Shares will be transferred to the Third Party and will
state (i) the bona fide intention of the Control Group to effect the transfer described in Section 3.2(a) above, (ii) the name
and address of the Third Party, and (iii) the expected closing date of such transfer.

 

(c)          Each
Shareholder as part of its participation in the transfer pursuant to the Drag-Along Right hereby agrees with respect to all Shares
which he or she owns or otherwise exercises voting or dispositive authority if the transaction is structured as (i) a merger or
consolidation, to vote (in person, by proxy or by action by written consent, as applicable) in favor of such merger or consolidation
and to refrain from exercising any dissenters’ rights or rights of appraisal under applicable law at any time with respect
thereto, and (ii) a sale of stock, to sell all of its Shares on the terms and conditions approved by the Control Group.

 

(d)          Each
Shareholder shall deliver to the Third Party at a closing to be held at the offices of the Corporation (or such other place as
the parties agree), one or more certificates, properly endorsed for transfer, which represent all the Shares owned by such Shareholder
and each Shareholder shall make such representations and warranties, and shall enter into such agreements, as are customary and
reasonable in the context of the proposed sale, including, without limitation, representations and warranties (and indemnities
with respect thereto) that the transferee of the Shares (or interests therein) is receiving good and marketable title to such Shares
(or interests therein), free and clear of all pledges, security interests, or other liens; provided, however, that with respect
to any matter as to which a Shareholder shall agree to provide indemnification (other than its own title to such Shares), such
Shareholder shall in no event be required to provide indemnification in an amount that would exceed its pro rata portion of the
total liability for which such indemnification is sought, which pro rata portion shall be determined on the basis of the percentage
of the total Shares involved in such transfer that are represented by the Shares owned by such Shareholder. In addition, each Shareholder
and the Control Group shall reasonably cooperate and consult with each other in order to effect the transfer described in this
Section 4.2, and each Shareholder shall provide reasonable assistance to the Control Group in connection with the preparation of
disclosure schedules relating to representations and warranties to be made to the Third Party involved in such transfer and in
the determination of the appropriate scope of, or limitations or exceptions to, such representations and warranties.

 

    	 	-5-	 

     

    

 

3.3           Tag-Along
Right. 

 

(a)          In
the event the Control Group elects to transfer all or a portion of the Shares of stock owned by them to a Third Party and the Control
Group has not exercised the Drag-Along Right pursuant to Section 3.2 hereof, all other Shareholders shall have the right to cause
the Control Group to effect the transfer of such Shareholders’ respective Shares to such Third Party at the same price and
on the same terms and conditions as the Control Group proposes to transfer their Shares to such Third Party (the “Tag-Along
Right”) in full if all of the Shares of the Control Group are being transferred or in proportionate amount if some of
the Shares of the stock of the Control Group are being transferred.

 

(b)          If
the Control Group does not intend to deliver a Drag-Along notice to the other Shareholders pursuant to Section 3.2 hereof, the
Control Group must deliver a Tag-Along notice to such Shareholders and the Corporation within thirty (30) days prior to the consummation
of the transfer described in Section 3.3(a) above. The notice delivered pursuant to this Section 3.3(b) will state (i) the bona
fide intention of the Control Group to effect the transfer described in Section 3.3(a) above, (ii) the name and address of the
Third Party, (iii) the expected closing date of such transfer, and (iv) the terms of such sale. In order for the Tag-Along Rights
to be applicable, Shareholders who choose to participate must deliver a written request for inclusion in such sale to the Control
Group within ten (10) days from the date of receipt of notice from the Control Group. To the extent one or more of the Shareholders
exercise such right of participation in accordance with the terms and conditions set forth herein, the number of shares that the
selling Control Group may sell to the Third Party shall be correspondingly reduced unless the Third Party purchaser agrees to purchase
the increased number of offered shares.

 

(c)          Each
Shareholder, who timely exercises his or her Tag-Along Rights under this Section 3.3 by delivering the written request provided
for above in Section 3.3(b), as part of its participation in the transfer pursuant to the Tag-Along Right shall deliver to the
Third Party at a closing to be held at the offices of the Corporation (or such other place as the parties agree), one or more certificates,
properly endorsed for transfer, which represent all the Shares owned by such Shareholder and each Shareholder shall make such representations
and warranties, and shall enter into such agreements, as are customary and reasonable in the context of the proposed sale, including
without limitation representations and warranties and indemnities with respect thereto that the transferee of the Shares (or interests
therein) is receiving good and marketable title to such Shares (or interests therein), free and clear of all pledges, security
interests, or other liens; provided, however, that with respect to any matter as to which a Shareholder shall agree to provide
indemnification (other than its own title to such Shares), such Shareholder shall in no event be required to provide indemnification
in an amount that would exceed its pro rata portion of the total liability for which such indemnification is sought, which pro
rata portion shall be determined on the basis of the percentage of the total Shares involved in such transfer that are represented
by the Shares owned by such Shareholder. In addition, each Shareholder and the Control Group shall reasonably cooperate and consult
with each other in order to effect the transfer described in this Section 3.3, and each Shareholder shall provide reasonable assistance
to the Control Group in connection with the preparation of disclosure schedules relating to representations and warranties to be
made to the Third Party involved in such transfer and in the determination of the appropriate scope of, or limitations or exceptions
to, such representations and warranties.

 

    	 	-6-	 

     

    

 

ARTICLE 4

TRANSFER OF SHARES DURING SHAREHOLDER’S LIFETIME

 

4.1           First
Right of Refusal.

 

(a)          Offer
to Corporation to Purchase Shares. If, during his or her lifetime, a Shareholder (“Selling Shareholder”)
receives a written offer to purchase all or a portion of Selling Shareholder’s Shares that the Selling Shareholder intends
to accept if the right of first refusal provided in this Section 4.1 is not exercised (a “Bona Fide Offer”),
Selling Shareholder shall first offer to sell the Shares to the Corporation at the same price and upon the same terms as are contained
in the Bona Fide Offer. Any provision in the Bona Fide Offer to the effect that the prospective purchaser reserves the right to
make a further offer or give additional consideration, any non-monetary-term and any side agreement or separate arrangement shall
be disregarded for purposes of this Agreement. Selling Shareholder’s offer to sell the Shares to Corporation shall be accompanied
by a written statement of the name and address of the person or entity making the Bona Fide Offer to purchase Shares owned by Selling
Shareholder and shall state the price, terms and conditions set forth in the Bona Fide Offer. Corporation shall have thirty (30)
days following Selling Shareholder’s offer within which to accept all or any part of the Shares so offered.

 

(b)          Offer
to Shareholders to Purchase Shares. If Corporation fails to accept all or any part of the Shares offered pursuant to Section
4.1(a), within the time provided in Section 4.1(a), or notifies Selling Shareholder in writing before the end of the time provided
in Section 4.1(a) that it will not purchase all or any portion of the offered Shares, Selling Shareholder shall then offer to sell
the Shares not accepted by Corporation to the other Shareholders (“Non-Selling Shareholders”). Each Non-Selling
Shareholder shall have thirty (30) days within which to accept his or her Proportionate Interest (as defined below) or such other
proportion as Non-Selling Shareholders shall agree upon, of the Shares not purchased by Corporation at the same price and upon
the same terms and conditions set forth in the Bona Fide Offer. Selling Shareholder’s offer to sell the Shares
to Non-Selling Shareholders shall be accompanied by a written statement of the name and address of the person or entity
making the Bona Fide Offer and shall state the price, terms and conditions set forth in the Bona Fide Offer. If any of the Non-Selling
Shareholders fails to accept such an offer, either in whole or in part, within a thirty (30) day period, and if Non-Selling Shareholders
have failed to agree on a disproportionate purchase of all the Shares held by Selling Shareholder, then, for a reasonable period
of time (not to exceed an additional thirty (30) days), the Shares not accepted may be purchased by the other Non-Selling Shareholders
in proportion to their shareholdings and, if any Shares remain unaccepted, this procedure shall be repeated as many times as necessary
(within the period specified above) to permit the purchase of as many Shares as possible. When used in this Agreement, the term
“Proportionate Interest” shall mean the proportion of the Shares offered by a Selling Shareholder that the Shares
of each Non-Selling Shareholder bears to the total Shares owned by all Non-Selling Shareholders.

 

    	 	-7-	 

     

    

 

(c)          Acceptances
Conditional. If Corporation and Non-Selling Shareholders fail to accept all of the Shares offered by Selling Shareholder pursuant
to Sections 4.1(a) and (b), then Selling Shareholder may refuse to sell to Corporation and/or Non-Selling Shareholders such partial
amount of the Shares that was conditionally accepted by Corporation and/or Non-Selling Shareholders. In this event, the parties’
rights under this Agreement shall be determined as though there were no acceptances of Selling Shareholder’s offers pursuant
to Sections 4.1(a) and (b).

 

(d)          No
Acceptances of Offers. If Corporation and Non-Selling Shareholders fail to accept any part of the Shares offered by Selling
Shareholder or if Selling Shareholder refuses to sell (under the terms of Section 4.1(c)) because the acceptances of Corporation
and Non-Selling Shareholders were partial acceptances, Selling Shareholder shall be free to sell those Shares that were offered
and not accepted (including those Shares which were conditionally accepted by Corporation or Non-Selling Shareholders but which
conditional acceptance was rejected by Selling Shareholder pursuant to Section 4.1(c)) to the person or entity making the Bona
Fide Offer in accordance with the price, terms and conditions of the Bona Fide Offer. Provided, however, if the sale is not completed
within thirty (30) days after the last day that a Non-Selling Shareholder could accept Selling Shareholder’s offer pursuant
to Section 4.1(b), then Selling Shareholder shall not Transfer the Shares without again complying with the terms and conditions
of this Section 4.1. A sale is “completed,” for this purpose, when Selling Shareholder has received the full consideration
(a note is “received,” for this purpose, when it is delivered, even if some installments are to be paid later). Any
purchaser of Shares pursuant to a Bona Fide Offer who is not already a Shareholder shall, at the Closing (as defined in Article
8) of his or her purchase, execute, deliver and become a party to this Agreement.

 

4.2           Prohibited
and Involuntary Transfers. If, despite the provisions and intent of this Agreement, any Shares are Transferred (or purported
to have been Transferred) in violation of the terms of this Agreement, the Corporation and Non-Selling Shareholders have all rights
under this Agreement or under applicable law, including, but not limited to, the right to treat any Transfer or purported Transfer
in violation of this Agreement as void, the right to specific performance, and the right to act as attorney-in-fact for any Shareholder
(including, but not limited to, any putative Shareholder to whom Shares were Transferred or purportedly Transferred in violation
of this Agreement) with respect to the sale of that Shareholder’s Shares pursuant to this Agreement.

 

ARTICLE 5

TERMINATION

 

5.1           Termination.

 

(a)          Events
of Termination. This Agreement, and the rights and obligations of the parties under it, shall terminate immediately, without
further liability, upon the first occurrence of any one of the following events:

 

    	 	-8-	 

     

    

 

(i)          Mutual
written agreement of the then current parties to this Agreement;

 

(ii)         The
death of all but one of Shareholders who have executed or otherwise become bound by the terms of this Agreement after full performance
of the Agreement by the surviving Shareholder(s);

 

(iii)        The
Corporation is declared to be bankrupt under federal law, makes an assignment for the benefit of creditors, or is otherwise found
insolvent;

 

(iv)        The
Corporation dissolves or winds up its affairs, whether voluntarily or involuntarily;

 

(v)         A
merger, consolidation or other reorganization involving Corporation and another entity pursuant to which all the Shares are exchanged
for or converted into shares of stock of another entity that are unrestricted and readily tradeable on an established securities
market;

 

(vi)        On
the consummation of the Corporation’s initial public offering of shares of common stock, if any; or

 

(vii)       The
date on which the Corporation becomes subject to the reporting requirements of the Exchange Act.

 

(b)          Effect
of Termination. The termination of this Agreement shall not affect any rights or obligations that shall have arisen or accrued
prior to the date of termination. Upon termination of this Agreement, each Shareholder shall surrender to the Corporation all of
the Shares issued by the Corporation represented by any certificate that contains the legend set forth in Article 1. The Corporation
shall issue to each Shareholder a new certificate for the Shares that shall not bear such legend.

 

5.2           Death
Within Sixty Days. This Agreement shall be of no force or effect if all Shareholders die in or as a result of a common
disaster or accident or die within sixty (60) days of each other.

 

    	 	-9-	 

     

    

 

ARTICLE 6

MISCELLANEOUS

 

6.1           Indemnification.

 

(a)          The
Corporation shall indemnify, defend, protect and hold harmless each Shareholder and each Director, and each of their respective
principals, partners, shareholders, controlling persons, trustees, officers, directors, heirs, trustees, beneficiaries, administrators,
executors, employees, agents, representatives, successors and assigns, from and against any and all demands, judgments, settlements,
penalties, claims, lawsuits, liabilities, damages, costs, losses, expenses, obligations and fines, including reasonable attorneys’,
accountants’ and other professional fees, costs and expenses (collectively, “Claims and Liabilities”),
that such person may suffer or incur by reason of or in connection with his, her or its management of, ownership in, involvement
in or affiliation with the Corporation’s business or affairs. Such indemnity shall be permitted, however, only if the person
seeking indemnity (i) acted in accordance with the terms of this Agreement and otherwise in a manner he, she or it reasonably believed
to be in, or not opposed to, the Corporation’s best interests, (ii) was not guilty of gross negligence, and (iii) with respect
to any criminal proceeding, had no reasonable cause to believe his, her or its conduct was unlawful. The termination of a proceeding
by judgment, order, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create
a presumption that such person did not meet such standards, unless it is finally adjudicated that such person did not meet such
standards.

 

(b)          The
Corporation may also indemnify any person who was or is, or is threatened to be made, a party to any threatened, pending or completed
action because such person is or was an officer, employee or agent of the Corporation. The foregoing indemnity shall be permitted
only if approved by the Directors and if such person acted in good faith and in a manner such person reasonably believed to be
in, or not opposed to, the Corporation’s best interests. If such person is adjudged to be liable for misconduct in performing
his, her or its duty to the Corporation, such indemnity shall be permitted only to the extent that the court in which such Claims
and Liabilities was brought, or another court of appropriate jurisdiction, determines that, despite the adjudication of liability,
but in view of all circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses that
such court shall deem proper. In no event, however, shall any person be entitled to indemnification under this paragraph for any
Claims and Liabilities arising from such person’s gross negligence, willful misconduct or reckless disregard in performing
such person’s duties on the Corporation’s behalf.

 

(c)          If
approved by the Directors, the Corporation may pay expenses (including attorneys’ fees) incurred in defending any proceeding
under Sections 6.1(a) or (b) in advance of the final disposition of such proceeding if the person entitled to indemnification agrees
to repay such amount if it is ultimately determined that such person is not entitled to such indemnification.

 

(d)          The
indemnification provided by this Section 6.1 shall not be deemed to be exclusive of any other rights or remedies to which the indemnified
person may be entitled, whether by agreement or as a matter of law.

 

(e)          The
Directors shall have power to purchase and maintain insurance, at the Corporation’s expense, on behalf of the persons who
may be entitled to indemnification under this Section 6.1. That insurance may cover amounts for which the Corporation may be liable
under this Section 6.1.

  

    	 	-10-	 

     

    

 

6.2           Restrictive
Covenants.

 

(a)          Confidential
Information. Each Shareholder agrees that, both while such person is a Shareholder or Director
and thereafter, such Shareholder or Director shall not divulge, furnish or make accessible to anyone or use in any way (other
than in the ordinary course of the business of the Corporation or its subsidiaries, affiliates and divisions) any of Corporation’s
Confidential Information. As used in this Agreement, “Corporation’s Confidential Information”
means any confidential or secret information regarding the Corporation, Corporation trade secrets, and any other confidential
or secret aspect of the business of the Corporation. Without limiting the generality of the foregoing, the parties agree the Corporation’s
Confidential Information includes (a) any knowledge or information concerning the Corporation’s business, whether developed
by a Shareholder or Director, or by others, and whether developed or acquired by the Corporation or from others, (b) the Corporation’s
planned business operations and business plan for future operations, (c) the Corporation’s confidential or secret development
or research work (including information concerning any future or proposed services or products), (d) all of the Corporation’s
accounting, cost, revenue and other financial records and documents, as well as the contents of such information, and (e) the
Corporation’s documents, contracts, agreements, correspondence and other similar business records. Notwithstanding anything
to the contrary in this Agreement, any knowledge or information that is part of the public domain shall not be deemed Confidential
Information. The Shareholders and the Directors agree that monetary damages would be an inadequate remedy for any breach of the
provisions of this paragraph and that the Corporation may, therefore, seek injunctive relief in the case of any such breach or
threatened breach.

 

(b)          Non-disparagement.
Each Shareholder agrees that, both while such person is a Shareholder or Director and thereafter,
such Shareholder shall not take any action that is intended to diminish the value of the Corporation or that would interfere with
the business of the Corporation, including disparaging the name or business of the Corporation or its affiliates, or their respective
employees or business relationships.

 

(c)          Non-solicitation.
Each Shareholder agrees that, both while such person is a Shareholder or Director and for a
period of one (1) year thereafter, such Shareholder shall not interfere, solicit, disrupt or attempt (directly or indirectly)
to make any contact, deal or be involved in any transaction with or otherwise disrupt the relationship, contractual or otherwise,
between the Corporation and any individual who is employed by the Corporation on or within six (6) months prior to the date such
Shareholder ceased to be a Shareholder.

 

(d)          Non-competition.
Each Shareholder agrees that, both while such person is a Shareholder or Director and for a
period of one (1) year thereafter, such Shareholder shall not, directly or indirectly, whether individually or through a corporation,
partnership, limited liability company or other business entity, or as a partner, member, shareholder, director, manager, officer,
employee or agent of any of the foregoing, have any business interests or engage in business activities in direct competition
with the Corporation’s business in any location in the world where the Corporation shall operate as of the date the Shareholder
ceases to be a Shareholder; provided that a Shareholder shall be entitled to own up to 5% of any class of securities of any entity,
whether or not it may compete with the Corporation, which are publicly traded on a national or regional stock exchange or on the
over-the-counter market.

 

    	 	-11-	 

     

    

 

(e)          It
is expressly understood and agreed that although the Shareholders consider the non-competition, non-disparagement and non-solicitation
restrictions contained in this Agreement to be reasonable, if a final judicial determination is made by a court of competent jurisdiction
that the time or territory or any other restriction in that regard is an unenforceable restriction against a Shareholder, the provisions
of this Agreement shall not be rendered void but shall be deemed amended to apply as to such maximum time and territory and to
such maximum extent as such court may judicially determine or indicate to be enforceable. Alternatively, if any court of competent
jurisdiction finds that any such restriction is unenforceable, and such restriction cannot be amended so as to make it enforceable,
such finding shall not affect the enforceability of any of the other restrictions contained herein.

 

6.3           Amendment.
This Agreement may be amended only in writing and only with the unanimous consent of Shareholders.

 

6.4           Intentionally
Omitted.

 

6.5           Governing
Law; Jurisdiction, Etc. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to
the principles of conflicts of law thereof.  Each party agrees that all legal proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement (whether brought against
a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be commenced exclusively
in the state and federal courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction
of the state and federal courts sitting in the City of New York, borough of Manhattan for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement
of any of the Transaction Documents), 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 improper
or is an inconvenient venue for such proceeding.  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 via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that
such service shall constitute good and sufficient service of process and notice thereof.  Nothing contained herein shall be
deemed to limit in any way any right to serve process in any other manner permitted by law.

 

6.6           Limitation
of Liability. Notwithstanding anything to the contrary in this Agreement, the Corporation’s debts, obligations and
liabilities shall be solely the Corporation’s debts, obligations and liabilities, and neither a Director nor any Shareholder
shall be obligated personally for any Corporation debt, obligation or liability solely by reason of being a Director or a Shareholder.

 

6.7           Attorneys’
Fees. If an action is brought to interpret or enforce any of the terms of this Agreement, or because of a party’s
breach of any provision of this Agreement, the losing party shall pay the prevailing party’s reasonable attorneys’
fees, costs and expenses, court costs and other costs of action incurred in connection with the prosecution or defense of such
action, whether or not the action is prosecuted to a final judgment. In addition to the foregoing award of attorneys’ fees,
the prevailing party shall be entitled to its reasonable attorneys’ fees incurred in any post judgment proceeding to enforce
any judgment in connection with this Agreement. This paragraph is separate and several and shall survive the merger of this paragraph
into any judgment.

 

    	 	-12-	 

     

    

 

6.8           Binding
Effect. Subject to the restrictions on transfer set forth in this Agreement, this Agreement shall be binding on and inure
to the benefit of the Shareholders and their respective transferees, successors, assigns and legal representatives.

 

6.9           Covenant
of Married Shareholders. 

 

(a)          Each
Shareholder covenants and agrees that, if there is a legal separation, divorce or division of property between the Shareholder
and his spouse, domestic partner or legal beneficiary, the Shareholder will make provisions in any property settlement agreement
as may be necessary to eliminate any interest of the Shareholder’s spouse in the Corporation's Shares.

 

(b)          By
executing this Agreement, each Shareholder represents and warrants that he has secured the permission and consent of his spouse,
domestic partner or legal beneficiary to enter into this Agreement and fully perform his obligations under this Agreement. Each
Shareholder will obtain the signature of his spouse, domestic partner or legal beneficiary on the consents attached hereto and
incorporated herein as Exhibit B.

 

6.10         Notices.
All notices, requests, consents and other communications required or permitted to be given hereunder shall be in writing and shall
be deemed to have been duly given (i) if delivered personally, when delivered; (ii) if delivered by overnight carrier, on the first
business day following such delivery; (iii) if delivered by registered or certified mail, return receipt requested, on the third
business day after having been mailed in Los Angeles, California; or (iv) if delivered by electronic transmission, at the time
when sent, provided that a copy of the item delivered is sent to the addressee by first class mail. All such communications, if
to the Corporation or the Directors, shall be delivered to the Corporation’s principal office, as set forth above, or if
to any Shareholder, shall be delivered to the Shareholder’s address at his, her or its address as set forth in the Corporation’s
records or at such other place as such party may notify the Corporation in accordance with this paragraph.

 

6.11         Waiver
or Termination. No waiver or termination of this Agreement, or any part hereof, shall be effective unless made in writing
and signed by the party or parties sought to be bound thereby. No failure to pursue or elect any remedy shall constitute a waiver
of any default under or breach of any provision of this Agreement, nor shall any waiver of any such default or breach be deemed
to be a waiver of any other subsequent default or breach.

 

6.12         Further
Assurances. The parties shall execute and deliver any further instruments or documents and perform any additional acts
that are or may become necessary to effectuate and carry on the Corporation as contemplated by this Agreement.

 

6.13         Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original and together which shall
constitute one and the same instrument.

 

    	 	-13-	 

     

    

 

6.14         Incorporation
by Reference. The exhibits and schedules attached to this Agreement are incorporated into this Agreement by this reference.

 

6.15         Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions, and this Agreement
shall be construed in all respects as if such invalid or unenforceable provisions were omitted.

 

6.16         Rights
of Others. Except as expressly provided, nothing expressed or implied in this Agreement is intended or shall be construed
to confer upon or give to any person, firm or corporation, other than the parties to this Agreement, or other persons who become
bound by the terms of this Agreement, any rights or remedies under or by reason of any term, provision, condition, or agreement
contained in this Agreement; provided, however, that it is expressly understood and agreed that the provisions, terms and conditions
of this Agreement shall be binding upon and shall inure to the benefit of and shall be enforceable by the Corporation, Shareholders
and/or beneficiaries or the estate of any deceased Shareholder and the successors or assigns of the Corporation.

 

6.17         Specific
Performance. The parties agree that the Shares are unique and that failure to perform the obligations under this Agreement
will result in irreparable damage to the other parties and that the parties shall be entitled to the specific performance of such
obligations.

 

6.18         Entire
Agreement. This instrument contains the entire understanding and agreement among the parties concerning the subject matter
of this Agreement, and this Agreement supersedes and merges herein all prior and contemporaneous understandings, agreements, covenants,
negotiations and representations concerning the subject matter of this Agreement.

 

    	 	-14-	 

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the Effective Date set forth above.

 

	“CORPORATION”	 	 
	 	 	 
	HOTH THERAPEUTICS, INC.	 	 
	 	 	 
	By:	 	 	 
	    Its:  Chief Executive Officer  	 	 
	 	 	 	 
	“SHAREHOLDERS”	 	 
	 	 	 
	If Shareholder is an individual:	 	Title:
	 	 	 
	 	 	 
	Name:	 	 	 
	 	 	 	 
	If Shareholder is an entity:	 	 
	 	 	 
	Name of Shareholder:	 	 
	 	 	 	 
	 	 	 
	 	 	 	 
	By:	 	 	 
	Name:	 	 	 

 

[Signature Page to Hoth Therapeutics Shareholders Agreement]

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