Document:

EX-10.4

 Exhibit 10.4 

CHFW SHAREHOLDER SUPPORT AGREEMENT 

This CHFW SHAREHOLDER SUPPORT AGREEMENT (this “Agreement”), dated as of April [•], 2021, is made by and among Consonance-HFW Acquisition Corp., a Cayman Islands exempted company (“CHFW”), [•], a [•], a holder of CHFW Class A ordinary shares (the “CHFW Shareholder”), and
Surrozen, Inc., a Delaware corporation (the “Company”). CHFW, the CHFW Shareholder and the Company shall be referred to herein from time to time collectively as the “Parties”. 

WHEREAS, CHFW, the Company and certain other persons party thereto entered into that certain Business Combination Agreement, dated as of the
date hereof (as it may be amended, restated or otherwise modified from time to time in accordance with its terms, the “Business Combination Agreement”) providing for the merger of a subsidiary of CHFW with and into the Company, with
the Company surviving as the surviving corporation in such merger (the “Merger”); 
 WHEREAS, the CHFW Shareholder is the
record and beneficial owner of the number of Class A ordinary shares of CHFW and warrants exercisable for the number of Class A ordinary shares of CHFW, each as set forth on the signature page hereto (together with any other Equity
Securities of CHFW that the CHFW Shareholder holds of record or beneficially, as of the date of this Agreement, or acquires record or beneficial ownership after the date hereof, collectively, the “Subject CHFW Equity Securities”);
and 
 WHEREAS, the CHFW Shareholder acknowledges and agrees that CHFW and the Company would not have entered into and agreed to consummate
the transactions contemplated by the Business Combination Agreement without the CHFW Shareholder entering into this Agreement and agreeing to be bound by the agreements, covenants and obligations contained in this Agreement. 

NOW, THEREFORE, in consideration of the premises and the mutual promises contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties, each intending to be legally bound, hereby agree as follows: 
 1.
Agreement to Vote. The CHFW Shareholder hereby agrees to (i) appear (in person or by proxy) at any meeting of the shareholders of CHFW and (ii) vote (in person or by proxy) at any such meeting, and in any action by written
resolution of the shareholders of CHFW, all of such CHFW Shareholder’s Subject CHFW Equity Securities in favor of (A) each of the Transaction Proposals to be submitted to the holders of CHFW Class A ordinary shares in connection with
the Merger and the other transactions contemplated by the Business Combination Agreement and (B) such other resolutions upon which a consent or other approval is required under CHFW’s amended and restated memorandum and articles of
association, law, securities exchange or otherwise is sought with respect to effecting the Business Combination Agreement and the Merger, and (ii) vote (in person or by proxy) against any merger, purchase of all or substantially all of a third
party (other than the Merger) or all of the assets of a third party or other business combination transaction with a third party (other than the Business Combination Agreement and the Merger) (a “Competing Transaction”) or any
proposal relating to a Competing Transaction and against any proposal, action or agreement that would (A) impede, frustrate, prevent or nullify any provision of 

 
this Agreement, the Business Combination Agreement or any Merger, (B) result in a breach in any respect of any covenant, representation, warranty or any other obligation or agreement of CHFW
or Perseverance Merger Sub Inc. under the Business Combination Agreement, (C) result in any of the conditions set forth in Article VI of the Business Combination Agreement not being fulfilled or (D) change in any manner the dividend policy
or capitalization of, including the voting rights of any class of capital stock of, CHFW (other than the Transaction Proposals). 
 The CHFW
Shareholder hereby agrees that it shall not commit or agree to take any action inconsistent with the foregoing. 
 Upon the failure of a
CHFW Shareholder to timely provide its consent or vote its Subject CHFW Equity Securities in accordance with this Section 1 pursuant to any action by written consent of the shareholders of the CHFW or at any applicable meeting of the
shareholders of the CHFW, such CHFW Shareholder shall be deemed to have irrevocably granted to, and appointed, CHFW, and any designee thereof, and each of them individually, as such CHFW Shareholder’s proxy and attorney-in-fact (with full power of substitution), for and in such CHFW Shareholder’s name, place and stead, to deliver any action by written consent of the CHFW Shareholder’s concerning any of the
matters specified in this Section 1 or attend any meeting of the CHFW Shareholders concerning any of the matters specified in this Section 1, to include such Subject Equity Securities in any computation for purposes of establishing a
quorum at any such meeting of the CHFW Shareholders and to provide consent or vote such CHFW Shareholder’s Subject Equity Securities in any action by written consent of the CHFW Shareholders or at any meeting of the CHFW Shareholders called
with respect to any of the matters specified in, and in accordance and consistent with, this Section 1. Each CHFW Shareholder hereby affirms that the irrevocable proxy is coupled with an interest and may under no circumstances be revoked and
that such irrevocable proxy is executed and intended to be irrevocable. Notwithstanding any other provision of this Agreement, the irrevocable proxy granted hereunder shall automatically terminate upon the termination of this Agreement. 

2. No Redemption. The CHFW Shareholder hereby agrees that it shall not redeem, or submit a request to CHFW’s transfer agent or
otherwise exercise any right to redeem, any Subject CHFW Equity Securities. 
 3. Transfer of Shares. The CHFW Shareholder hereby
agrees that it shall not, directly or indirectly, (i) sell, assign, transfer (including by operation of law), place a lien on, pledge, dispose of or otherwise encumber any of its Subject CHFW Equity Securities or otherwise agree to do any of
the foregoing (each, a “Transfer”), (ii) deposit any of its Subject CHFW Equity Securities into a voting trust or enter into a voting agreement or arrangement or grant any proxy or power of attorney with respect to any of its
Subject CHFW Equity Securities that conflicts with any of the covenants or agreements set forth in this Agreement, (iii) enter into any contract, option or other arrangement or undertaking with respect to the direct or indirect acquisition or
sale, assignment, transfer (including by operation of law) or other disposition of any of its Subject CHFW Equity Securities, (iv) engage in any hedging or other transaction which is designed to, or which would (either alone or in connection
with one or more events, developments or events (including the satisfaction or waiver of any conditions precedent)), lead to or result in a sale or disposition of its Subject CHFW Equity Securities even if such Subject CHFW Equity Securities would
be disposed of by a person other than the CHFW Shareholder or (v) take any action that would have the effect of preventing or materially delaying the performance of its obligations hereunder. 

 4. Further Assurances. Each CHFW Shareholder shall take, or cause to be taken, all
actions and do, or cause to be done, all things reasonably necessary under applicable Laws to consummate the Merger and the other transactions contemplated by the Business Combination Agreement on the terms and subject to the conditions set forth
therein and herein. 
 5. No Inconsistent Agreement. Each CHFW Shareholder hereby represents and covenants that such CHFW Shareholder
has not entered into, and shall not enter into, any agreement that would restrict, limit or interfere with the performance of such CHFW Shareholder’s obligations hereunder. 

6. CHFW Shareholder Representations and Warranties. The CHFW Shareholder represents and warrants to CHFW and the Company as follows:

 a. The CHFW Shareholder is a corporation, limited liability company or other applicable business entity duly organized or formed, as
applicable, validly existing and in good standing (or the equivalent thereof, if applicable, in each case, with respect to the jurisdictions that recognize the concept of good standing or any equivalent thereof) under the Laws of its jurisdiction of
formation or organization (as applicable). 
 b. The CHFW Shareholder has the requisite corporate, limited liability company or other
similar power and authority to execute and deliver this Agreement, to perform its covenants, agreements and obligations hereunder. The execution and delivery of this Agreement has been duly authorized by all necessary corporate (or other similar)
action on the part of the CHFW Shareholder. This Agreement has been duly and validly executed and delivered by the CHFW Shareholder and constitutes a valid, legal and binding agreement of the CHFW Shareholder (assuming that this Agreement is duly
authorized, executed and delivered by CHFW and the Company), enforceable against the CHFW Shareholder in accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium or other Laws affecting generally the
enforcement of creditors’ rights and subject to general principles of equity). 
 c. The execution and delivery of this Agreement by
such CHFW Shareholder, does not, and the performance by such CHFW Shareholder of his, her or its obligations hereunder will not, (i) if such CHFW Shareholder is not an individual, conflict with or result in a violation of the organizational
documents of such CHFW Shareholder or (ii) require any consent or approval that has not been given or other action that has not been taken by any Person (including under any Contract binding upon such CHFW Shareholder or such CHFW
Shareholder’s Subject CHFW Equity Securities), in each case, to the extent such consent, approval or other action would prevent, enjoin or materially delay the performance by such CHFW Shareholder of its, his or her obligations under this
Agreement. 
 d. There are no proceedings pending against such CHFW Shareholder, or to the knowledge of such CHFW Shareholder threatened
against such CHFW Shareholder, before (or, in the case of threatened proceedings, that would be before) any arbitrator or any Governmental Entity, which in any manner challenges or seeks to prevent, enjoin or materially delay the performance by such
CHFW Shareholder of its, his or her obligations under this Agreement. 

 e. Except as described on Section 4.4 of the CHFW Disclosure Schedules, no broker,
finder, investment banker or other Person is entitled to any brokerage fee, finders’ fee or other commission in connection with the transactions contemplated by the Business Combination Agreement based upon arrangements made by such CHFW
Shareholder, for which CHFW or any of its Affiliates may become liable. 
 f. Such CHFW Shareholder understands and acknowledges that each
of CHFW and the Company is entering into the Business Combination Agreement in reliance upon such CHFW Shareholder’s execution and delivery of this Agreement. 

7. Termination. This Agreement shall automatically terminate, without any notice or other action by any Party, and be void ab
initio upon the earlier of (a) the effective time of the Merger; and (b) the termination of the Business Combination Agreement in accordance with its terms. Upon termination of this Agreement as provided in the immediately preceding
sentence, none of the Parties shall have any further obligations or liabilities under, or with respect to, this Agreement. Notwithstanding the foregoing or anything to the contrary in this Agreement, the termination of this Agreement pursuant to
Section 5(b) shall not affect any liability on the part of any Party for a willful breach of any covenant or agreement set forth in this Agreement prior to such termination. 

8. No Third Party Beneficiaries. This Agreement shall be for the sole benefit of the Parties and their respective successors and
permitted assigns and is not intended, nor shall be construed, to give any Person, other than the Parties and their respective successors and assigns, any legal or equitable right, benefit or remedy of any nature whatsoever by reason this Agreement.
Nothing in this Agreement, expressed or implied, is intended to or shall constitute the Parties, partners or participants in a joint venture. 

9. Severability. If any term or other provision of this Agreement is determined to be invalid, illegal or incapable of being enforced
by any rule of law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any
manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the Parties as closely as possible to the fullest extent permitted by applicable law in an acceptable manner to the end that the transactions contemplated hereby are fulfilled to the extent possible. 

10. Binding Effect and Assignment. All of the covenants and agreements contained in this Agreement shall be binding upon, and inure to
the benefit of, the respective Parties and their permitted successors, assigns, heirs, executors, administrators and other legal representatives, as the case may be. This Agreement may not be assigned by any Party hereto without the prior written
consent of the other Party hereto; provided, however, that, notwithstanding the foregoing, 

 11. No Waivers. No waivers of any breach of this Agreement extended by CHFW to the
CHFW Shareholder shall be construed as a waiver of any rights or remedies of CHFW with respect to any other shareholder of CHFW who has executed an agreement substantially in the form of this Agreement with respect to equity held or subsequently
held by such shareholder or with respect to any subsequent breach of the CHFW Shareholder or any other such shareholder or CHFW. No waiver of any provisions hereof by either Party shall be deemed a waiver of any other provisions hereof by any such
Party, nor shall any such waiver be deemed a continuing waiver of any provision hereof by such Party. 
 12. Governing Law; Jurisdiction
and Venue. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware without regard to its rules of conflict of laws (except to the extent that the laws of the Cayman Islands govern the giving or
voting of any proxies given under this Agreement). The parties hereto hereby irrevocably and unconditionally consent to and submit to the exclusive jurisdiction of the courts of the State of Delaware and of the United States of America located in
such state (the “Delaware Courts”) for any litigation arising out of or relating to this Agreement and the transactions contemplated hereby (and agree not to commence any litigation relating thereto except in such courts), waive any
objection to the laying of venue of any such litigation in the Delaware Courts and agree not to plead or claim in any Delaware Court that such litigation brought therein has been brought in any inconvenient forum. 

13. Waiver of Jury Trial. The parties hereto hereby waive any right to trial by jury with respect to any action or proceeding related
to or arising out of this Agreement, any document executed in connection herewith and the matters contemplated hereby and thereby. 
 14.
No Agreement Until Executed. Irrespective of negotiations among the parties or the exchanging of drafts of this Agreement, this Agreement shall not constitute or be deemed to evidence a contract, agreement, arrangement or understanding
between the parties hereto unless and until (a) the Board of Directors of CHFW has approved the transactions contemplated by the Business Combination Agreement, (b) the Business Combination Agreement is executed by all parties thereto, and
(c) this Agreement is executed by all parties hereto. 
 15. Entire Agreement; Amendment. This Agreement supersedes all prior
agreements, written or oral, among the parties hereto with respect to the subject matter hereof and contains the entire agreement among the parties with respect to the subject matter hereof. This Agreement may not be amended, supplemented or
modified, and no provisions hereof may be modified or waived, except by an instrument in writing signed by each party hereto. 
 16.
Specific Performance. The parties hereto agree that irreparable damage may occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is
accordingly agreed that the parties hereto shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement in the Delaware Courts, this being in
addition to any other remedy to which such party is entitled at law or in equity. Each of the parties hereby further waives (a) any defense in any action for specific performance that a remedy at law would be adequate and (b) any
requirement under any Law to post security or a bond as a prerequisite to obtaining equitable relief. 

 17. Severability. If any provision of this Agreement is held invalid or unenforceable
by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the
extent not held invalid or unenforceable 
 18. Effect of Headings. The section headings herein are for convenience only and shall
not affect the construction of interpretation of this Agreement. 
 19. Counterparts. This Agreement may be executed in one or more
counterparts, each of which will be deemed an original but all of which together shall constitute one and the same instrument. 

[signature page follows] 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed
on its behalf as of the day and year first above written. 
  

			
	 CONSONANCE-HFW ACQUISITION
CORP.

		
	By:	 	 
		 	 Name:
 Title:

	
	 SURROZEN, INC.

		
	By:	 	 
		 	 Name:
 Title:

	
	 CHFW SHAREHOLDER:

		
	By:	 	 
		 	 Name:
 Title:

  

			
	Class A Ordinary Shares:Exhibit 4.14

 

DESCRIPTION OF SECURITIES
REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934

 

As of May 14, 2020, NanoVibronix,
Inc., a Delaware corporation (“we,” “our” and the “Company”) has its common stock, par value
$0.001 per share, registered under Section 12 of the Securities Exchange Act of 1934, as amended.

 

The following description
is intended as a summary and is qualified in its entirety by reference to our amended and restated certificate of incorporation,
as amended (the “Amended & Restated Certificate of Incorporation”) and the amended and restated by-laws, as amended
(the “By-laws”) as currently in effect, copies of which are filed as exhibits to this Annual Report on Form 10-K and
are incorporated by reference herein.

 

Authorized Capital Stock

 

 As of April 14, 2021,
our authorized capital stock consists of 31,000,000 shares, of which 20,000,00 shares are common stock, par value $0.001 per share,
and 11,000,000 shares are preferred stock, par value $0.001 per share, 3,000,000 of which have been designated as Series C Convertible
Preferred Stock (“Series C Preferred Stock”), 506 of which have been designated as Series D Convertible Preferred
Stock (“Series D Preferred Stock”) and 1,999,494 of which have been designated as Series E Convertible Preferred Stock
(“Series E Preferred Stock”). As of April 14, 2021, there were 24,109,625 shares of common stock issued and outstanding,
which includes 4,109,635 putative shares of common stock, 666,667 shares of Series C Convertible Preferred Stock issued and outstanding,
304 shares of Series D Convertible Preferred Stock issued and outstanding and 875,000 shares of Series E Convertible Preferred
Stock issued and outstanding. 

   

 Our Board, in consultation
with counsel, determined that it is in the best interests of the Company and our stockholders to ratify, pursuant to Section 204
of the Delaware General Corporation Law (“DGCL”) and Delaware common law, an increase in the number of authorized
shares of our common stock from 20,000,000 to 24,109,635 (the “Authorized Share Increase”) and the issuance of 4,109,635
shares of common stock (the “Authorized Share Increase Issuance”) upon conversion of the Series C Preferred Stock
and the exercise of certain December 2020 Warrants and Pre-Existing Warrants (the “Share Increase Ratification”).
On March 3, 2021, we filed a proxy statement in connection with a special meeting of stockholders (the “Special Meeting”)
to be held at 10:00 a.m. Eastern time on March 31, 2021 to (i) ratify the Authorized Share Increase and the Authorized Share Increase
Issuance, and (ii) further increase the number of our authorized shares of common stock. On March 31, 2021, we did not have the
requisite vote to approve the Share Increase Ratification and adjourned the Special Meeting until 10:00 a.m. Eastern time on April
14, 2021 in an effort to obtain additional votes. At the reconvened Special Meeting on April 14, 2021, we again did not have the
requisite vote to approve the Share Increase Ratification and further adjourned the Special Meeting until 10:00 a.m. Eastern time
on April 27, 2021. Although we have adjourned the Special Meeting in an effort to secure the necessary stockholder approval, there
can be no assurance that we will receive the necessary stockholder approval for the Share Increase Ratification. 

 

Common Stock

 

Voting Rights

 

Each stockholder has one
vote for each share of common stock held on all matters submitted to a vote of stockholders. A stockholder may vote in person or
by proxy. Elections of directors are determined by a plurality of the votes cast and all other matters are decided by a majority
of the votes cast by those stockholders entitled to vote and present in person or by proxy.

 

Because our stockholders
do not have cumulative voting rights, stockholders holding a majority of the voting power of our shares of common stock will be
able to elect all of our directors. Our Amended & Restated Certificate of Incorporation and By-laws provide that stockholder
actions may be effected at a duly called meeting of stockholders or pursuant to written consent of the majority of stockholders.

 

Dividend Rights

 

The holders of outstanding
shares of common stock are entitled to receive dividends out of funds legally available at the times and in the amounts that the
board of directors (the “Board”) may determine, provided that required dividends, if any, on preferred stock have been
paid or provided for. However, the current policy of our Board is to retain earnings, if any, for operations and growth.

 

No Preemptive or Similar Rights

 

The holders of our common
stock have no preemptive, subscription, redemption or conversion rights. The rights, preferences and privileges of holders of our
common stock are subject to, and may be adversely affected by, the rights of the holders of any series of preferred stock, which
may be designated solely by action of the Board and issued in the future.

 

    	 

     

     

Right to Receive Liquidation Distributions

 

Upon liquidation, dissolution
or winding-up, the holders of our common stock are entitled to share ratably in all assets that are legally available for distribution.

 

The NASDAQ Capital Market Listing

 

Our common stock is listed
on the NASDAQ Capital Market (“NASDAQ”) under the symbol “NAOV.”

 

Transfer Agent and Registrar

 

The transfer agent and
registrar for our common stock is VStock Transfer, LLC, 18 Lafayette Place, Woodmere, NY 11598.

 

Options and Warrants

 

As of April 14,
2021, we had 1,748,544 shares of common stock issuable upon exercise of outstanding options and 7,724,740 shares of common stock
issuable upon the exercise of warrants. There are no other outstanding warrants or options at this time.

 

Preferred Stock

 

We may issue any class
of preferred stock in any series. The Board has the authority, subject to limitations prescribed under Delaware law and the rights
of the holders of any series of preferred stock, to issue preferred stock in one or more series, to establish from time to time
the number of shares to be included in each series and to fix the designation, powers, preferences and rights of the shares of
each series and any of its qualifications, limitations and restrictions. The number of authorized shares of preferred stock may
be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the holders
of a majority of the voting power of all of the then-outstanding shares of our capital stock entitled to vote thereon, without
a vote of the holders of the preferred stock, or of any series thereof, unless a vote of any such holders is required pursuant
to the terms of any preferred stock designation. The Board may authorize the issuance of preferred stock with voting or conversion
rights that could adversely affect the voting power or other rights of the holders of the common stock. The issuance of preferred
stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things,
have the effect of delaying, deferring or preventing a change in control of our company and may adversely affect the market price
of common stock and the voting and other rights of the holders of common stock.

 

Series C Convertible Preferred Stock

 

Conversion Rights

 

Each share of the Series
C Preferred Stock is convertible into one (1) share of common stock, provided that the holder will be prohibited from converting
Series C Preferred Stock into shares of common stock if, as a result of such conversion, the holder would own more than 9.99% of
the number of shares of common stock outstanding immediately after giving effect to the issuance of the shares of common stock
issuable upon conversion of the Series C Preferred Stock, or, at the election of a holder, together with its affiliates, would
own more than 9.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of the
shares of common stock issuable upon conversion of the Series C Preferred Stock. The conversion rate of the Series C Preferred
Stock is subject to proportionate adjustments for stock splits, reverse stock splits and similar events.

 

    	 

     

     

Dividend Rights

 

Shares of Series C Preferred
Stock are not entitled to receive any dividends, unless and until specifically declared by the Board. However, holders of Series
C Preferred Stock are entitled to receive dividends on shares of Series C Preferred Stock equal (on an as-if-converted-to-common-stock
basis) to and in the same form as dividends actually paid on shares of the common stock when such dividends are specifically declared
by the Board. The Company is not obligated to redeem or repurchase any shares of Series C Preferred Stock. Shares of Series C Preferred
Stock are not otherwise entitled to any redemption rights, or mandatory sinking fund or analogous fund provisions.

 

Voting Rights

 

Except as provided in the
Designation, Preferences, Rights and Limitations of Series C Preferred Stock or as otherwise required by law, each holder of Series
C Preferred Stock will be entitled to the number of votes equal to the number of shares of common stock into which such share of
Series C Preferred Stock could be converted, provided that the holder would be prohibited from converting Series C Preferred Stock
if, as a result of such conversion, the holder, together with its affiliates, would beneficially own more than 9.99% of the total
number of shares of our common stock then issued and outstanding, for purposes of determining the shares entitled to vote at any
regular, annual or special meeting of stockholders of the Company, and shall have voting rights and powers equal to the voting
rights and powers of the common stock (except as otherwise expressly provided herein or as required by law, voting together with
the common stock as a single class) and shall be entitled to notice of any stockholders’ meeting in accordance with the By-laws
of the Company. Fractional votes shall not, however, be permitted and any fractional voting rights shall be rounded to the nearest
whole number (with one-half being rounded upward). We may not, without the written consent of holders of a majority of the then
issued and outstanding shares of Series C Preferred Stock, increase the number of authorized shares of Series C Preferred Stock.

 

Liquidation Rights

 

Upon any liquidation, dissolution
or winding-up of the Company, whether voluntary or involuntary, the holders of Series C Preferred Stock are entitled to receive,
pari passu with the holders of common stock, out of the assets available for distribution to stockholders an amount equal to such
amount per share as would have been payable had all shares of Series C Preferred Stock been converted into common stock immediately
before such liquidation, dissolution or winding up, without giving effect to any limitation on conversion as a result of the Beneficial
Ownership Limitation, as described above.

 

Series D Convertible Preferred Stock

 

Conversion Rights

 

Each share of the Series
D Preferred Stock is convertible into one thousand (1,000) shares of common stock, provided that the holder will be prohibited
from converting Series D Preferred Stock into shares of common stock if, as a result of such conversion, the holder would own more
than 9.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of the shares of
common stock issuable upon conversion of the Series D Preferred Stock, or, at the election of a holder, together with its affiliates,
would own more than 9.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of
the shares of common stock issuable upon conversion of the Series D Preferred Stock. The conversion rate of the Series D Preferred
Stock is subject to proportionate adjustments for stock splits, reverse stock splits and similar events.

 

Dividend Rights

 

Shares of Series C Preferred
Stock are not entitled to receive any dividends, unless and until specifically declared by the Board. Series D Preferred Stockholders
(“Series D Holders”) are entitled to receive, and the Company shall pay, dividends on shares of Series D Preferred
Stock equal (on an as-if-converted-to-common-stock basis) to and in the same form as dividends actually paid on shares of the common
stock when, as and if such dividends are paid on shares of the common stock. No other dividends shall be paid on shares of Series
D Preferred Stock.

 

    	 

     

     

Voting Rights

 

Except as provided in the
Series D Preferred Stock Certificate of Designation or as otherwise required by law, Series D Holders shall have no voting rights.
However, as long as any shares of Series D Preferred Stock are outstanding, the Company shall not, without the affirmative vote
of the Series D Holders of a majority of the then outstanding shares of the Series D Preferred Stock, (a) alter or change adversely
the powers, preferences or rights given to the Series D Preferred Stock or alter or amend the Series D Preferred Stock Certificate
of Designation, (b) amend its certificate of incorporation or other charter documents in any manner that adversely affects any
rights of the Series D Holders, (c) increase the number of authorized shares of Series D Preferred Stock, or (d) enter into any
agreement with respect to any of the foregoing.

 

Liquidation Rights

 

Upon any liquidation, dissolution
or winding-up of the Company, whether voluntary or involuntary, the Series D Holders shall be entitled to receive out of the assets,
whether capital or surplus, of the Company the same amount that a holder of common stock would receive if the Series D Preferred
Stock were fully converted (disregarding for such purpose any conversion limitations hereunder) to common stock which amounts shall
be paid pari passu with all holders of common stock. The Company shall mail written notice of any such liquidation, not less than
30 days prior to the payment date stated therein, to each Series D Holder.

 

Series E Convertible Preferred Stock

 

Conversion Rights

 

Each share of Series E
Preferred Stock is convertible at any time and from time to time at the option of a holder of Series E Preferred Stock (a “Series
E Holder”) into one share of our common stock, provided that each holder is prohibited from converting Series E Preferred
Stock into shares of our common stock if, as a result of such conversion, any such holder, together with its affiliates, would
own more than 9.99% of the total number of shares of our common stock then issued and outstanding. This limitation may be waived
with respect to a holder upon such holder’s provision of not less than 61 days’ prior written notice to the Company.
The conversion rate of the Series E Preferred Stock is subject to proportionate adjustments for stock splits, reverse stock splits
and similar events.

 

Dividend Rights

 

Shares of Series E Preferred
Stock are not entitled to receive any dividends, unless and until specifically declared by the Board. However, Series E Holders
are entitled to receive dividends on shares of Series E Preferred Stock equal (on an as-if-converted-to-common-stock basis) to
and in the same form as dividends actually paid on shares of the common stock when such dividends are specifically declared by
the Board. The Company is not obligated to redeem or repurchase any shares of Series E Preferred Stock. Shares of Series E Preferred
Stock are not otherwise entitled to any redemption rights, or mandatory sinking fund or analogous fund provisions.

 

Voting Rights

 

Each Series E Holder shall
be entitled to the number of votes equal to the number of shares of our common stock equal to the voting ratio, which, for each
share of Series E Preferred Stock, is equal to $2.00 divided by $3.53. Fractional votes shall not, however, be permitted and any
fractional voting rights resulting from the above formula (after aggregating all shares into which shares of Series E Preferred
Stock held by each Series E Holder could be converted) shall be rounded to the nearest whole number (with one-half being rounded
upward).

 

Liquidation Rights

 

Upon liquidation, dissolution
or winding up of the Company, whether voluntary or involuntary, each Series E Holder shall be entitled to receive the amount of
cash, securities or other property to which such holder would be entitled to receive with respect to such shares of Series E Preferred
Stock if such shares had been converted to our common stock immediately prior to such liquidation.

 

    	 

     

     

Delaware Anti-Takeover Law and Provisions
of our Certificate of Incorporation and Bylaws

 

Delaware Anti-Takeover
Law

 

We are subject to Section
203 of the Delaware General Corporation Law (the “DGCL”). Section 203 generally prohibits a public Delaware corporation
from engaging in a “business combination” with an “interested stockholder” for a period of three years
after the date of the transaction in which the person became an interested stockholder, unless:

 

	 	●	prior to the date of the transaction, the board of directors of the corporation approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;
	 	 	 
	 	●	the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding (i) shares owned by persons who are directors and also officers and (ii) shares owned by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or
	 	 	 
	 	●	on or subsequent to the date of the transaction, the business combination is approved by the board and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 66 2/3% of the outstanding voting stock which is not owned by the interested stockholder.
	 	 	 
	 	Section 203 defines a business combination to include:
	 	 	 
	 	●	any merger or consolidation involving the corporation and the interested stockholder;
	 	 	 
	 	●	any sale, transfer, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation;
	 	 	 
	 	●	subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder; or
	 	 	 
	 	●	the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

 

In general, Section 203
defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the
corporation and any entity or person affiliated with, or controlling, or controlled by, the entity or person. The term “owner”
is broadly defined to include any person that, individually, with or through that person’s affiliates or associates, among
other things, beneficially owns the stock, or has the right to acquire the stock, whether or not the right is immediately exercisable,
under any agreement or understanding or upon the exercise of warrants or options or otherwise or has the right to vote the stock
under any agreement or understanding, or has an agreement or understanding with the beneficial owner of the stock for the purpose
of acquiring, holding, voting or disposing of the stock.

 

The restrictions in Section
203 do not apply to corporations that have elected, in the manner provided in Section 203, not to be subject to Section 203 of
the DGCL or, with certain exceptions, which do not have a class of voting stock that is listed on a national securities exchange
or authorized for quotation on the Nasdaq Stock Market or held of record by more than 2,000 stockholders. Our certificate of incorporation
and bylaws do not opt out of Section 203.

 

Section 203 could delay
or prohibit mergers or other takeover or change in control attempts with respect to us and, accordingly, may discourage attempts
to acquire us even though such a transaction may offer our stockholders the opportunity to sell their stock at a price above the
prevailing market price.

 

    	 

     

     

Amended and Restated
Certificate of Incorporation and By-laws

 

The provisions of our Amended
and Restated Certificate of Incorporation and By-laws may delay or discourage transactions involving an actual or potential change
in our control or change in our management, including transactions in which stockholders might otherwise receive a premium for
their shares, or transactions that our stockholders might otherwise deem to be in their best interests. Therefore, these provisions
could adversely affect the price of our common stock. Among other things, our Certificate of Incorporation and By-laws:

 

	 	●	permit our board of directors to issue up to 11,000,000 shares of preferred stock, without further action by the stockholders, with any rights, preferences and privileges as they may designate, including the right to approve an acquisition or other change in control;
	 	 	 
	 	●	provide that the authorized number of directors may be changed only by resolution of a majority of the total number of authorized directors whether or not there exist any vacancies in previously authorized directorships (the “Whole Board”);
	 	 	 
	 	●	provide that all vacancies, including newly created directorships, may, except as otherwise required by law, be filled by the affirmative vote of a majority of directors then in office, even if less than a quorum;
	 	 	 
	 	●	do not provide for cumulative voting rights (therefore allowing the holders of a majority of the shares of common stock entitled to vote in any election of directors to elect all of the directors standing for election, if they should so choose);
	 	 	 
	 	●	provide that special meetings of our stockholders may be called only by a resolution adopted by a majority of the Whole Board; and
	 	 	 
	 	●	set forth an advance notice procedure with regard to the nomination, other than by or at the direction of our Board, of candidates for election as directors and with regard to business to be brought before a meeting of stockholders.

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