Document:

CONVERTIBLE PROMISSORY NOTE

 

This
note and THE SHARES OF COMMON STOCK INTO WHICH THIS NOTE IS CONVERTIBLE (COLLECTIVELY, THE “NOTE SECURITIES”)
have not been registered under the Securities Act of 1933, as amended (the “Act”), or the securities laws of
any state, and have been issued in reliance on exemptions from registration thereunder. The NOTE securities May not be offered,
sold, pledged or otherwise transferred without registration under the Act or under any applicable state securities laws, unless
SEBRING (as defined below) receives an opinion of counsel satisfactory to SEBRING that an exemption from such registration is available.

 

PROMISSORY
NOTE

 

Original Issue Date: December 31, 2013

 

Principal Amount: $1,350,000.00 (USD)

 

FOR VALUE RECEIVED,
Sebring Dental of Arizona, LLC, an Arizona limited liability company (“Maker”), located at 1400 Cattlemen Road,
Sarasota, FL 34232, and Sebring Software, Inc., a Nevada corporation (“Guarantor”), promise
to pay to North Scottsdale Family Dentistry, PLLC, an Arizona professional limited liability company (“Holder”),
located at 9070 E. Desert Cove, Suite 105, Scottsdale, AZ 85260, or at such other location and made to such persons as Holder may
designate from time to time in a written notice provided to Maker, the principal amount of One Million Three Hundred Fifty Thousand
and 00/100 Dollars ($1,350,000.00) (the “Principal Amount”), upon the terms and conditions specified below.
This Promissory Note is issued as of the date set forth above (the “Original Issue Date”) pursuant to an Asset
Purchase Agreement (the “Purchase Agreement”) by and among Maker, Holder, and Dr. Steven H. Poulos and Dr. Sid
S. Stevens. Capitalized terms used but not otherwise defined in this Note shall have the meanings ascribed thereto in the Purchase
Agreement.

 

		1.	Interest; Repayment; Form of Payments.

 

The outstanding Principal
Amount of this Note shall bear interest at a rate equal to 6.25% per annum, which interest shall be computed on a 365-day year
basis.

 

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Subject to Section
2 through Section 5 of this Note, the entire unpaid Principal Amount remaining outstanding and accrued but unpaid interest
under this Note shall be due and payable on the third (3rd) anniversary of the Original Issue Date (the “Maturity Date”),
unless the then outstanding Principal Amount and all accrued but unpaid interest thereon is earlier converted, at the discretion,
of Holder into shares of common stock (“Common Stock”) of Sebring Software, Inc., a Nevada corporation (“Sebring”),
pursuant to Section 3 below.

 

Unless otherwise specified,
all payments shall be made in lawful money of the United States of America at the address of Holder set forth above, or at such
other place as Holder may from time to time designate in writing to Maker. Payment shall be credited first to the accrued interest
then due and payable and the remainder applied to the Principal Amount.

 

2.          
Prepayment. Maker may prepay all or any portion of the Principal Amount and accrued interest, in whole or in
part, without penalty.

 

		3.	Conversion.

 

A.          
Conversion. Maker must provide at least thirty (30) days’ advance written notice to Holder of the closing of
any Public Offering (as defined below). Upon any Public Offering, within ten (10) days following such Public Offering closing,
Holder may elect to convert any or all of the unpaid Principal Amount (and the resulting accrued but unpaid interest thereon) by
providing written notice to Maker of such election. Immediately following delivery of such notice, and without any further action
on the part of any Person, the unpaid Principal Amount indicated by Holder (and accrued but unpaid interest thereon) shall be automatically
converted into the number of fully paid and non-assessable shares of Sebring’s Common Stock as is determined by dividing
the sum of the unpaid Principal Amount indicated by Holder (and accrued but unpaid interest thereon) by the Strike Price. “Public
Offering” means the first public offering of Sebring’s Common Stock registered under the Act following the Original
Issue Date. “Strike Price” means 25% less than the Offering Price. “Offering Price” is the
price per share of Common Stock paid by the underwriter to Maker for the shares sold to the underwriter in the Public Offering.

 

B.          
Fractional Shares. If the conversion of this Note in accordance with this Section 3 would result in the issuance
of a fraction of any share or other security, then Maker shall eliminate such fractional share or security by paying Holder the
amount computed by multiplying the fractional interest by the Strike Price.

 

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C.          
Termination of Conversion Rights. Notwithstanding anything to the contrary, upon payment of the entire Principal
Amount under this Note, all of the conversion rights provided for in this Note shall automatically and immediately terminate.

 

D.         
Certificates. Within 10 business days after a conversion as provided in this Section 3, Maker shall deliver
to Holder certificate(s) evidencing the total shares of Common Stock purchased, in the name of Holder(s), as directed by Holder.
The issuance of certificates for shares of the Common Stock on conversion of this Note shall be made without charge to Holder for
any documentary, stamp or similar taxes that may be payable in respect of the issue or delivery of such certificates. Maker covenants
and agrees that all shares of Common Stock which may be issued upon the conversion of the Note will, upon issuance, be validly
issued, fully paid and nonassessable and free from all taxes, liens and charges (other than taxes in respect of any transfer occurring
contemporaneously with such issuance).

 

E.          
Reservation of Shares Issuable Upon Conversion. Sebring covenants that it will at all times reserve and keep available
out of its authorized and unissued shares of Common Stock for the sole purpose of issuance upon conversion of this Note and payment
of interest on this Note, each as herein provided, free from preemptive rights or any other actual contingent purchase rights of
Persons other than Holder, not less than such aggregate number of shares of the Common Stock as shall be issuable upon the conversion
of the Principal Amount of this Note and accrued interest hereunder.

 

4.          
Events of Default. The term “Event of Default”, wherever used in this Note, shall mean any
one of the following events:

 

A.          
any failure to make any payment of principal or interest on this Note on the date it becomes due and payable (whether by
demand or by acceleration or otherwise), which failure is not cured within fifteen (15) days after written notice of such default
is sent by Holder;

 

B.          
Maker fails to observe or perform any other covenant or agreement contained in this Note, which failure is not cured within
thirty (30) days after written notice of such default is sent by Holder, provided that if the failure is such that it can be corrected,
but not within such 30 days, it will not constitute an Event of Default if Maker takes corrective action upon such notice and diligently
pursues such cure until the failure is corrected; and

 

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C.          
Maker or Sebring shall: (i) become insolvent or generally fail to pay, or admit in writing its inability or unwillingness
to pay, debts as they become due; (ii) apply for, consent to or acquiesce in the appointment of a trustee, receiver, sequestrator
or other custodian for Maker or any property thereof, or make a general assignment for the benefit of creditors; (iii) in the absence
of such application, consent or acquiescence, permit or suffer to exist the appointment of a trustee, receiver, sequestrator or
other custodian for Maker or for a substantial part of the property thereof, and such trustee, receiver, sequestrator or other
custodian shall not be discharged within 60 days; (iv) permit or suffer to exist the commencement of any bankruptcy, reorganization,
debt arrangement or other case or proceeding under any bankruptcy or insolvency law, in respect of Maker and, if any such case
or proceeding is not commenced by Maker, such case or proceeding shall be consented to or acquiesced in by Maker or shall result
in the entry of an order for relief or shall remain for 60 days undismissed; (v) take any action authorizing, or in furtherance
of, any of the foregoing; or (vi) default under any other Agreement between Holder, Maker, and Sebring, including, but not limited
to, the Purchase Agreement and the lease agreement, guaranty, and other promissory notes referred to therein or related thereto.

 

5.          
Remedies. Upon the occurrence of an Event of Default hereunder, Holder may, at its option, (a) declare the entire
unpaid principal balance of this Note, together will all accrued interest thereon and all other amounts payable hereunder, immediately
due and payable, and (b) exercise any and all rights and remedies available to Holder under applicable law, including, without
limitation, the right to collect from Maker all sums due under this Note. The remedies of Holder shall be cumulative and concurrent,
and may be pursued singularly, successively or together, at the sole discretion of Holder, and may be exercised as often as occasion
therefor shall arise.

 

6.          
Cost of Collection.Maker shall pay all costs of collection, including reasonable attorneys’ fees, on
failure to pay any principal or interest when due on this Note. Reasonable attorneys’ fees are defined to include, but not
be limited to, all fees and costs incurred in all matters of collection and enforcement, construction and interpretation, before,
during and after suit, trial, proceedings and appeals, as well as appearances in and connected with any bankruptcy proceedings
or creditors’ reorganization or similar proceedings, or which arise without filing suit.

 

7.          
Waivers.Maker waives protest, demand, presentment and notice of dishonor, notice of the maturity, nonpayment,
and all requirements necessary to hold it liable as Maker.

 

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8.          
Amendment. This Note may be amended or a provision hereof waived only in a writing signed by both Maker and Holder.
Failure by Holder, at any time, to exercise any of Holder’s options or rights hereunder or to accelerate the debt upon an
Event of Default hereunder, shall not be construed as (i) a novation of this Note; (ii) a waiver of the right of Holder to thereafter
insist upon strict compliance with the terms of this Note; or (iii) a bar to exercise any of Holder’s options or rights at
a later date. No waiver of any default or Event of Default hereunder shall operate as a waiver of any other default or Event of
Default hereunder. A waiver or release with reference to any one event shall not be construed as continuing, as a bar to, or as
a waiver or release of any subsequent right, remedy or recourse as to a subsequent event. Time is of the essence with regard to
this Note. No delay or omission on the part of Holder in exercising any right or remedy shall operate as a waiver thereof and no
single or partial exercise by Holder of any right or remedy shall preclude any other or future exercise thereof or the exercise
of any other right or remedy.

 

9.          
Severability. The unenforceability or invalidity of any provision or provisions of this Note as to any Person,
entity, or circumstance shall not render that provision or those provisions unenforceable or invalid as to any other provisions
or circumstances, and all provisions hereof, in all other respects, shall remain valid and enforceable.

 

10.      
Interest Savings Clause. If any interest payment (or other payment which is deemed by law to be interest) due
hereunder is determined to be in excess of the then legal maximum rate, then that portion of each interest payment representing
an amount in excess of the then legal maximum rate shall instead be deemed a payment of principal and applied against the Principal
Amount.

 

11.      
Assignment. This Note is not assignable by Holder without Maker’s written consent, which consent may be
withheld in Maker’s sole and absolute discretion.

 

12.      
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be
in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received
by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or
e-mail of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the
next business day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the
addresses set forth in the Purchase Agreement (or at such other address for a party as shall be specified in a notice given in
accordance with the Purchase Agreement).

 

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13.      
Legal Matters. The validity, construction, enforcement, and interpretation of this Note are governed by the laws
of the State of Arizona, without regard to principles of conflict of laws. Any legal suit, action or proceeding arising out of
or based upon this Agreement or the transactions contemplated hereby may be instituted in the federal courts of the United States
of America located in Phoenix, Arizona or the courts of the State of Arizona located in Maricopa, Arizona, and each party irrevocably
submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding.

 

14.      
No Rights as a Stockholder. Nothing contained in this Note shall be construed as conferring upon Holder or any
other Person the right to vote or to consent or to receive notices as a stockholder in respect of meetings of stockholders of Maker
or any other matters or any rights whatsoever as a stockholder of Maker, and no dividends shall be payable or accrued in respect
of this Note or the interest represented hereby or the Common Stock obtainable hereunder, until, and only to the extent that, this
Note shall have been converted.

 

15.      
Entire Agreement. This Note contains the entire understanding of the parties with respect to the subject matter
hereof and thereof supersede all prior agreements, understandings, discussions and representations, oral or written, with respect
to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

16.      
Security.

 

A.          
The Purchase Agreement provides for Maker's purchase of certain assets of the dental practice owned by Seller and located
at 9070 E. Desert Cove, Suite 105, Scottsdale, AZ 85260 (the “Assets”). Other than as set forth in any Intercreditor
Agreement executed by Holder, repayment of this Note is secured by a security interest in the Assets, and Maker grants to Holders
a security interest in the Assets, along with any and all rights, obligations, proceeds arising out of, accessions and additions
to any or all of the foregoing, all permitted substitutions and replacements for any or all of the foregoing, if any, and all proceeds
or products of any or all of the foregoing (collectively, the “Collateral”) to secure payment and performance of this
Note.

 

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B.          
Maker agrees to: (a) defend the Collateral and its proceeds against the claims and demands of all third persons; (b) keep
the Collateral free of all future levies, liens, encumbrances, and other security interests (other than liens, encumbrances or
security interests hereafter consented in writing to or held by Holders, all of which are junior to this Note); (c) pay when due
all taxes, licenses, charges, and other impositions on or for the Collateral; (d) immediately notify Holders of any material event
causing an encumbrance on any material part of the Collateral and the amount or an estimate of the amount of such encumbrance;
(e) promptly and duly observe and perform every contract or agreement pertaining to the Collateral or any part thereof; and (f)
as appropriate, execute, deliver, file, or record such instruments, documents, statements, notices or agreements, in such form
and substance, as Holders may reasonably request, and take such action and obtain such certificates and documents, in accordance
with all applicable laws, statutes, and regulations as are necessary, to create, preserve, validate, perfect, evidence, or continue
Holders’ security interest in the Collateral, or to enable Holders to exercise or enforce its rights with respect to such
security interest.

 

C.          
Maker will not, without the prior written consent of Holders: (a) sell or offer to sell or otherwise assign, transfer, pledge,
encumber, or dispose of the Collateral or Maker’s rights therein, or permit the Collateral to become so affixed to realty
as to be a part or become a fixture thereof; (b) make any compromise, adjustment, amendment, modification, settlement, substitution,
or termination with respect to the Collateral; or (c) fail to do anything necessary or advisable concerning the Collateral, or
permit anything to be done that may impair its value, or Holders’ security interest and rights hereunder.

 

D.         
Maker authorizes Holders to do the following from time to time, in its own or in Maker’s name, as the case may be,
and at Maker’s expense, without notice or demand to Maker, and without affecting Maker’s liability hereunder: (a) collect
by legal proceedings or otherwise, and endorse and receive all dividends, interest, payments, proceeds and other sums and property
now or hereafter payable with respect to or on account of the Collateral; (b) not exercise any right or remedy under this or any
other agreement, without waiving that or any other past, present, or future right or remedy; (c) insure, process, and preserve
all or any part of the Collateral; (d) take any action it deems advisable, and exercise all the rights, powers, and remedies of
an owner with respect to all or any part of the Collateral; and (e) file and record any financing statement and any document necessary
to create, preserve, perfect, or validate its security interest in the Collateral or to enable Holders to exercise and enforce
their rights hereunder with respect to the Collateral.

 

E.          
Upon the occurrence of an Event of Default, without demand or notice of any kind (all of which are hereby expressly waived),
Holders (and their agents) will have the rights and remedies of a secured creditor, and Maker will have the rights and duties of
a debtor, provided to them under the Uniform Commercial Code in force in the State of Arizona at the date of this Note or as such
Code may thereafter be amended, and Holders may, at their election and in addition to all other rights, powers, and privileges
and notwithstanding any cessation of Maker’s liability or any bar of any statute of limitations, which Maker hereby waives
to the fullest extent permitted by law: (a) declare the Note obligations immediately fixed, due, and payable, the same as if the
Note obligations had become in default or past due, and proceed to collect the same; (b) waive or remedy any default, without waiving
it or any prior or subsequent default; (c) as appropriate, take immediate possession of the Collateral, without notice and with
or without resort to legal process; (d) at its option, retain the Collateral in satisfaction of the Note obligations by sending
written notice of such election to Maker, but, unless such written notice is sent, retention of the Collateral will not be in satisfaction
of any of the Note obligations; and (e) apply the Collateral, or the proceeds of any disposition of the Collateral, towards the
satisfaction of the Note obligations.

 

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F.          
Maker hereby authorizes Holders to file in the appropriate records for such filing a UCC-1 Financing Statement relating
to the Collateral.

 

G.         
Maker waives: (a) any right to require Holders to proceed against any person, exhaust any Collateral, or pursue any other
remedy in Holders’ power; (b) any defense arising by reason of any disability or other defense of Maker or any other person,
or by reason of cessation from any cause whatsoever of the liability of Maker or any other person; (c) any right to enforce or
compel the enforcement of any remedy which Holders now have or may hereafter have against Makers or against any other person; and
(d) any benefit of and any right to participate in the Collateral or other security whatsoever now or hereafter held by Holders.
Until all of the Note obligations have been satisfied and paid in full, Maker will not have any right of subrogation.

 

H.         
Any foreclosure of or retaking any of Assets pursuant to the terms of this Note will not be a breach of any non-competition
provisions set forth in an employment agreement of any Holder.

 

17.      
Documentary Stamps.Maker shall pay all necessary documentary stamp taxes due on the obligation evidenced
by this Note.

 

18.      
Waiver of Jury Trial. MAKER AND HOLDER HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT THEY
MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE,
OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY. THIS PROVISION IS
A MATERIAL INDUCEMENT FOR HOLDER ACCEPTING THIS NOTE.

 

 

 

 

 

[Signature Page Follows]

 

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IN WITNESS HEREOF,
this Note has been executed by Maker and delivered to Holder as of the date first above written.

 

 

	 	Sebring Dental of Arizona, LLC, an Arizona limited
liability company
	 	 
	 	By: Sebring Software, Inc., a Nevada corporation, Manager

 

 

	 	By:	 
	 	 	Leif Andersen, President

 

Each of the following
entities hereby guarantees the timely payment obligations of Maker in accordance with the terms of this Note.

 

	 	Sebring Software, Inc., a Nevada corporation
	 	 	 
	 	 	 
	 	By:	 
	 	 	Leif Andersen, President

 

 

    	Page 9 of 9Exhibit 4.2

 

THIS WARRANT AND THE SECURITIES ISSUABLE
UPON ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR QUALIFIED
OR REGISTERED UNDER ANY STATE SECURITIES LAWS. THEY MAY NOT BE SOLD, OFFERED FOR SALE,  PLEDGED OR HYPOTHECATED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT AND QUALIFICATION OR REGISTRATION UNDER
APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION AND ITS COUNSEL (SUCH SATISFACTION BEING
TO THE FORM AND SUBSTANCE OF THE OPINION AS WELL AS TO THE COUNSEL RENDERING THE OPINION) THAT REGISTRATION OR QUALIFICATION
IS NOT REQUIRED.

 

 

WCPN «Warrant_No»

 

WARRANT TO PURCHASE SHARES

 

Void after «Exp_Date»

 

THIS WARRANT is issued to:

 

by KineMed, Inc., a Delaware corporation
(the “Company”) pursuant to the terms of that certain Subscription Agreement (or Amended Subscription Agreement)
for the Convertible Promissory Note and Warrant to Purchase Shares Offering (the “Subscription Agreement”)
and in connection with the Company's issuance to the holder of this Warrant of a Convertible Promissory Note (the “Note”)
in the principal amount of «amount as written».

 

1.
Purchase of Shares. Subject to the terms and conditions set forth herein and in the Subscription Agreement, the holder of
this Warrant is entitled, upon surrender of this Warrant at the principal office of the Company, or at such other place
as the Company shall notify the holder hereof in writing, to purchase from the Company up to the number of fully paid
and non-assessable Shares, defined below, that equals the quotient obtained by dividing: (a) the Warrant Coverage
Amount, defined below, by (b) the Exercise Price, defined below.

 

2.
Definitions.

 

A. Accredited
Investor. Accredited Investor shall mean a Person qualifying as an “Accredited Investor” as such term is defined
in Rule 501 of Regulation D promulgated by the Securities and Exchange Commission (the “SEC”) under the Securities
Act of 1933, as amended (the “Act”) and as amended under the Dodd-Frank Wall Street Reform and Consumer Protection
Act.

 

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B.  Change
of Control. Change of Control shall mean: (i) any consolidation or merger involving the Company pursuant to which the
Company's stockholders own less than fifty percent (50%) of the voting securities of the surviving entity, or (ii) the sale
of all or substantially all of the assets of the Company.

 

C. Exercise
Period. This Warrant shall be exercisable, in whole or in part, during the Term, defined below.

 

D Exercise
Price. The exercise price for the Shares shall be as follows: If the Qualified Financing is an Initial Public
Offering, the Exercise Price shall be the price per share of securities sold to investors in the Initial Public
Offering. If the Qualified Financing is a Mezzanine Financing, the Exercise Price shall be the price per share of the
securities sold to investors in the Mezzanine Financing. If the Mezzanine Financing involves convertible securities, the
exercise price shall be the conversion price. If there is a Change of Control prior to the occurrence of a
Qualified Financing or if a Qualified Financing has not occurred by the Maturity Date of the Note, the Exercise Price
shall be the price per share of common stock under grants made to Optionees pursuant to the 2010 KineMed, Inc.
Equity Incentive Plan most recently occurring six months or more prior to the Change of Control date or the Maturity
Date.

 

E
Initial Public Offering. Initial Public Offering or IPO shall mean the first sale of securities of the Company to the
public in an offering pursuant to an effective registration statement filed under the Act raising capital in an amount
of Twenty Million Dollars ($20,000,000) or more.

 

F
Investor. Investor shall mean the Person specified as Investor in the initial paragraph of this Warrant or any Person who
shall be the registered holder of this Warrant.

 

G Mezzanine
Financing. Mezzanine Financing shall mean a private sale to Accredited Investors of newly created securities either
in the form of common stock, preferred stock, convertible notes, or other securities in which new capital is raised in an
amount of Three Million Dollars ($3,000,000) or more.

 

H Person.
Person shall mean any individual, partnership, corporation, limited liability company, joint venture, trust, business
trust, cooperative association, or other entity, and, where the context so permits, the legal representatives,
successors in interest and assigns of such Person.

 

I Qualified
Financing. Qualified Financing shall mean the earlier to occur of an Initial Public Offering or a Mezzanine Financing, as
such terms are defined herein.

 

JShares. Shares
shall mean shares of the Company's securities issued to investors in a Qualified Financing. If the Qualified Financing is Mezzanine
Financing that involves convertible securities, Shares shall mean the securities into which the financing converts. If there
is a Change of Control prior to a Qualified Financing or if a Qualified Financing has not occurred by the Maturity Date of
the Note, the Shares shall mean Common Stock of the Company.

 

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K Term. The
Term of this Warrant shall commence on the earliest to occur of: (i) the date of the closing of a Qualified Financing, (ii)
thirty (30) days prior to a Change of Control , or (iii) the Maturity Date of the Note, whether or not the Note has been
paid prior thereto, and shall continue until its expiration described in Section 13 below.

 

L
Warrant Coverage Amount. Warrant Coverage Amount shall mean that amount which equals thirty percent (30%) of the
principal amount of the Note.

 

3.
Method of Exercise. While this Warrant remains outstanding and exercisable as provided herein, Investor may exercise, in
whole or in part, the purchase rights evidenced hereby. Such exercise shall be effected by:

 

(i) the
delivery of a completed and correct investor suitability questionnaire in a form satisfactory to the Company and the
Chief Executive Officer of Company, representing that Investor is an Accredited Investor by reason of qualification and
compliance at the time of exercise;

 

(ii) the
surrender of the Warrant, together with a notice of exercise addressed to the Chief Executive Officer of the Company at
its principal offices; and

 

(iii) the
payment to the Company of an amount equal to the aggregate Exercise Price for the number of Shares being purchased.

 

4.
Certificates for Shares. Upon the exercise of the purchase rights evidenced by this Warrant, one or more
certificates for the number of Shares so purchased shall be issued as soon as practicable thereafter and in any event
within thirty (30) days of the delivery of the notice of exercise and the aggregate Exercise Price for the number of
Shares being purchased

 

5.
Issuance of Shares. The Company covenants that the Shares, when issued pursuant to the exercise of this Warrant, will be
duly and validly issued, fully paid and non-assessable.

 

6.
Adjustment of Exercise Price and Number of Shares. The number of and kind of securities purchasable upon exercise of this
Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:

 

A. Subdivisions,
Combinations and Other Issuances. If the Company shall, at any time prior to the expiration of this Warrant, subdivide the
Shares, by split-up or otherwise, or combine its Shares, or issue additional shares of its Shares as a dividend, the number
of Shares to be issued on the exercise of this Warrant shall be proportionately increased in the case of a subdivision or stock
dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the purchase
price payable per share, but the aggregate purchase price payable for the total number of Shares purchasable under this Warrant,
as adjusted, shall remain the same. Any adjustment under this Section 6 A shall become effective at the close of
business on the date the subdivision or combination becomes effective or as of the record date of such dividend or in the
event that no record date is fixed, upon the making of such dividend.

 

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B.
Reclassification, Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in
the capital stock of the Company, other than as a result of a subdivision, combination, or stock dividend provided for in
Section 6 A above, the Company shall make appropriate provision so that the holder of this Warrant shall have the right at
any time prior to the expiration of the Term to purchase at a total price equal to that payable upon the exercise of
this Warrant the kind and amount of shares of stock and other securities and property receivable in connection with
such reclassification, reorganization, or change by a holder of the same number of Shares as were
purchasable by the holder of this Warrant immediately prior to such reclassification, reorganization, or change. In
any such case appropriate provisions shall be made with respect to the rights and interest of the holder of this Warrant
so that the provisions hereof shall be applicable with respect to any shares of stock or other securities and
property deliverable upon exercise hereof, and appropriate adjustments shall be made to the purchase price per share
payable hereunder, provided the aggregate purchase price shall remain the same.

 

C. Notice
of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of
the Warrant or in the Exercise Price, Company shall promptly notify the Investor of such event and of the number of
Shares or other securities or property thereafter purchasable upon exercise of this Warrant.

 

7. No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the
exercise of this Warrant, but in lieu of such fractional shares, Company shall refund any
 excess.

 

8.
Representations of the Company. Company represents that all corporate actions on the part of Company, its officers,
directors, and stockholders necessary for the sale and issuance of this Warrant have been taken.

 

9.
Representations and Warranties by the Investor. The Investor represents and warrants to the Company as follows:

 

A. This Warrant
and the Shares to be issued upon exercise thereof are being acquired for its own account, for investment, and not with a view to,
or for resale in connection with, any distribution or public offering thereof within the meaning of the Act. Upon exercise of this
Warrant, the Investor, if so requested by Company, shall confirm in writing, in a form satisfactory to Company that the securities
to be issued upon exercise of this Warrant are being acquired for investment and not with a view toward distribution or resale.

 

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B. Investor
understands that the Warrant and the Shares have not been registered under the Securities Act by reason of their issuance in
a transaction exempt from the registration and prospectus delivery requirements of the Act pursuant to Section 4(2)
thereof, they must be held by the Investor indefinitely, and Investor must therefore bear the economic risk of such
investment indefinitely unless a subsequent disposition thereof is registered under the Act or is exempted from such
registration. Investor further understands that the Warrant Shares have not been qualified under the California Securities
Law of 1968 (the “California Law”) by reason of their issuance in a transaction exempt from the
qualification requirements of the California Law pursuant to Section 25102(f) thereof, which exemption depends upon, among
other things, the bona fide nature of the Investor's investment intent expressed above.

 

C. Investor
has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and
risks of the purchase of this Warrant and the Shares purchasable pursuant to the terms of this Warrant and of protecting
its interests in connection therewith.

 

D. Investor
is able to bear the economic risk of the purchase of the Shares pursuant to the terms of this Warrant.

 

E. Investor
is an Accredited Investor and will confirm and represent Investor is an Accredited Investor at the date of exercise.

 

10.
          Restrictive Legends. The Shares, unless registered under the Act, shall be stamped or imprinted with a legend in
substantially the following form:

 

THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF, AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR QUALIFIED OR REGISTERED UNDER ANY STATE SECURITIES LAWS. SUCH SHARES MAY
NOT BE SOLD, TRANSFERRED, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE ACT AND QUALIFICATION OR REGISTRATION UNDER APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION THEREFROM.

 

THE SHARES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO A MARKET STANDOFF AGREEMENT IN THE EVENT OF A PUBLIC OFFERING. THIS TRANSFER RESTRICTION IS BINDING
ON TRANSFEREES OF THESE SHARES. COPIES OF THE AGREEMENT COVERING THE PURCHASE OF THESE SHARES AND RESTRICTING THEIR TRANSFER MAY
BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF THE COMPANY
AT THE PRINCIPAL EXECUTIVE OFFICES OF THE COMPANY.

 

    	5

    	 

    

 

11.
          Warrants
Transferable. Subject to compliance with the terms and conditions of this Section 11, this Warrant and all rights hereunder
are transferable, in whole or in part, without charge to the Investor hereof except for transfer taxes, upon surrender of
this Warrant properly endorsed or accompanied by written instructions of transfer. With respect to any offer, sale, or other
disposition of this Warrant or any Shares acquired pursuant to the exercise of this Warrant prior to registration of such
Warrant or Shares, Investor hereof agrees to give written notice to the Company prior thereto, describing briefly the manner
thereof together with a written opinion of such Investor's counsel, or other evidence if requested by the Company, to the
effect that such offer, sale, or other disposition may be effected without registration or qualification of this Warrant or the
Shares under the Act, as then in effect or any federal or state securities law then in effect, and indicating whether or not
under the Act certificates for this Warrant or the Shares to be sold or otherwise disposed of require any restrictive legend
as to applicable restrictions on transferability in order to ensure compliance with such law. Upon receiving such
written notice and reasonably satisfactory opinion, or other evidence if so requested, the Company, as promptly as practicable, shall notify
Investor that Investor may sell or otherwise dispose of this Warrant or such Shares in accordance with the terms of the notice
delivered to the Company. If a determination has been made pursuant to this Section 11 that the opinion of counsel for the Investor
or other evidence is not reasonably satisfactory to Company, Company shall so notify the Investor promptly with details thereof
after such determination has been made. Each certificate representing this Warrant or the Shares transferred in accordance with
this Section 11 shall bear a legend as to the applicable restrictions on transferability in order to ensure compliance
with such laws, unless in the aforesaid opinion of counsel for Investor such legend is not required in order to ensure
compliance with such laws. Company may issue stop transfer instructions to its transfer agent in connection with such restrictions.

 

12.
          Rights
of Stockholders. No holder of this Warrant shall be entitled, as a Warrant holder, to vote or receive dividends or be
deemed the holder of the Shares or any other securities of the Company that may at any time be issued on the exercise
hereof for any purpose, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, any
of the rights of a stockholder of the Company or any right to vote for the election of directors or upon any matter submitted
to stockholders at any meeting thereof, or to give or withhold consent to any corporate action, whether upon any recapitalization, issuance
of stock, reclassification of stock, change of par value, consolidation, merger, conveyance, or otherwise, or to receive notice
of meetings, dividends, or subscription rights or otherwise until the Warrant shall have been exercised and the Shares to
be purchased upon the exercise hereof shall have become deliverable, as provided herein.

 

13.
          Expiration
of Warrant; Notice of Events Terminating This Warrant. This Warrant shall expire and shall no longer be exercisable upon the
earlier to occur of:

 

A5:00 p.m., California
local time, on «Exp_Date»; or

 

    	6

    	 

    

 

BAny Change of
Control.

 

The Company shall
provide at least thirty (30) days prior written notice of any event set forth in Section 13 B.

 

14.
          Notices.
All notices, requests, demands, consents, instructions, or other communications required or permitted hereunder shall
in writing and faxed, mailed, or delivered to each party as follows: (i) if to Investor, at Investor's address or facsimile
number set forth on the signature page below, or at such other address as Investor shall have furnished the Company in writing,
or (ii) if to the Company, at 5980 Horton St Ste 470, Emeryville CA 94608-2012, Attention: Chief Executive Officer [telephone
510 655 6525 x100, facsimile 105 655 6506], or at such other address or facsimile number as the Company shall have furnished
to the Investors in writing. All such notices and communications will be deemed effectively given the earlier of: (i)
when received, (ii) when delivered personally, (iii) one (1) business day after being delivered by facsimile (with receipt
of appropriate confirmation), (iv) one (1) business day after being deposited with an overnight courier service of recognized
standing, or (v) four (4) days after being deposited in the U.S. mail, first class with postage prepaid.

 

15.
            Market
Stand-Off Agreement. Investor hereby agrees that it will not, without the prior written consent of Company and the managing
underwriter, during the period commencing on the date of the final prospectus relating to the Company's Initial Public Offering
and ending on the date specified by Company and the managing underwriter (such period not to exceed one hundred eighty (180)
days): (i) lend, offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to
sell, grant any option, right, or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any securities
of Company, whether such securities are then owned by Investor or are thereafter acquired, or (ii) enter into any swap or
other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of securities
of Company, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of the securities
in cash or otherwise. The provisions of this Section 15 shall apply only to the Company's Initial Public Offering, shall not apply
to the sale of any shares to an underwriter pursuant to an underwriting agreement, and shall only be applicable if all
officers and directors enter into similar agreements and Company uses all reasonable efforts to obtain similar agreements
from all other greater than one percent (1%) stockholders. The underwriters in connection with Company's Initial Public Offering
are intended to be third party beneficiaries of this Section 15 and shall have the right, power, and authority to enforce the provisions
hereof as though they were a party hereto. Investor agrees to execute such agreements as may be reasonable requested
by the underwriters in Company's Initial Public Offering that are consistent with this Section 15 or that are necessary to give
further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreement by Company
or the underwriters, except in the case of legal separation, divorce, or pursuant to the terms of a court order, shall apply to
all Investors subject to such agreement pro rata based on the number of shares subject to such agreements, provided that, notwithstanding the
foregoing, Company and the underwriters may, in their sole discretion, waive or terminate these restrictions with respect
to up to one percent (1%) of the Company's outstanding common stock. In order to enforce the foregoing provisions, Company may
impose stop transfer instructions with respect to the Registrable Securities of each Investor, and the shares or securities
of every other person subject to the foregoing restrictions, until the end of such period. Notwithstanding the foregoing,
the obligations described in this Section 15 shall not apply to a registration relating solely to employee benefit plans on
Form S-1 or Form 5-8 or similar forms which may be promulgated in the future, or a registration relating solely to an SEC Rule
145 transaction.

 

    	7

    	 

    

 

16.
          Governing
Law. Any corporate matters specifically set forth in the General Corporation Law of the State of Delaware shall be governed
by the laws of Delaware. Any matters relating to securities laws and rights related thereto shall be governed by the applicable
U.S. federal or the applicable state securities laws and regulations. All other matters, such as the interpretation of the
rights granted and the obligations of the parties under this Note, shall be governed by the laws of the State of California
as such laws are applied to agreements between California residents entered into and to be performed entirely within

California.

 

17.
          Rights
and Obligations Survive Exercise of Warrant. Unless otherwise provided herein, the rights and obligations of Company,
Investor, and of the holder of the Shares issued upon exercise of this Warrant shall survive the exercise of this Warrant.

 

The Company has caused this
Warrant to be issued as of «Issuance_Date».

 

	 	KINEMED, INC.
	 	a Delaware corporation 
	 	 
	 	By: 
	 	 
	 	Name: David M. Fineman

 

Address for Investor:

 

    	8

    	 

    

 

EXHIBIT 1

 

NOTICE OF EXERCISE

 

 

	TO:	KINEMED, INC.
	 	5980 Horton St Ste 470
	 	Emeryville CA 94608-2012
	 	Attention: Chief Executive
Officer

  

1.          The
undersigned hereby elects to purchase _______ Shares of _______ pursuant to the terms of the attached Warrant.

 

2.          The
undersigned elects to exercise the attached Warrant by means of a cash payment, and tenders herewith payment in full for the purchase
price of the shares being purchased, together with all applicable transfer taxes, if any.

 

3.          Please
issue a certificate or certificates representing said Shares in the name of the undersigned or in such other name as is specified
below:

  

	 	 	 
	 	(Name)	 
	 	 	 
	 	 	 
	 	(Address)	 

 

4.          The
undersigned hereby represents and warrants that the aforesaid Shares are being acquired for the account of the undersigned for
investment and not with a view to, or for resale, in connection with the distribution thereof, and that the undersigned has
no present intention of distributing or reselling such shares and all representations and warranties of the undersigned set
forth in Section 9 of the attached Warrant (including Section 9 E thereof) are true and correct as of the date hereof. The
undersigned acknowledges that the Shares will bear a restrictive legend as described in Section 10 of the attached

Warrant.

	 	 
	 	(Signature)
	 	 
	 	(Name)
	 	 
	 	(Date)

 

    	9

    	 

    

  

EXHIBIT 2

 

FORM OF TRANSFER

 

(To be signed only upon transfer of Warrant)

 

FOR VALUE RECEIVED, the undersigned hereby
sells, assigns, and transfers unto

 

__________________________________________________________
the right represented by the attached Warrant to purchase ________ shares of _______________________________ of KINEMED, INC.
to which the attached Warrant relates, and appoints______________________________ Attorney to transfer such right on the books
of KINEMED, INC. with full power of substitution in the premises.

 

 

	Dated: _____________	 	 
	 	 	(Signature must conform in all respects to name of Investor as specified on the face of the Warrant)
	 	Address:	 
	 	 	 
	 	 	 

 

	Signed in the presence of:	 
	 	 
	Signature	 
	 	 
	Print Name	 

 

    	10

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