Document:

Exhibit 10.4

 

SEVERANCE COMPENSATION AGREEMENT

 

This Severance Compensation
Agreement (this “Agreement”) is made and entered into as of September 19, 2013 (the “Effective Date”) by
and between Debra W. Struhsacker (the “Employee“) and Pershing Gold Corporation, a Nevada corporation (the “Company”).

 

RECITALS

 

WHEREAS, Employee is
the Corporate Vice President of the Company.

 

WHEREAS, the Company
believes that appropriate steps should be taken to assure the Company and its affiliates of Employee’s continued employment
and attention and dedication to duty, and to ensure the availability of Employee’s continued service, notwithstanding the
possibility, threat or occurrence of a change in control.

 

WHEREAS, it is consistent
with the Company‘s employment practices and policies and in the best interests of the Company and its shareholders to treat
fairly its executive employees whose employment terminates without cause (either before or after a change in control) and to establish
up front the terms and conditions of an executive’s separation from employment in such event.

 

WHEREAS, in order to
fulfill the above purposes, the Company and Employee wish to enter into this Agreement, which provides for the payment of severance
benefits to Employee under certain circumstances in exchange for the Employee’s release of claims against the Company and
agreement not to compete with or to solicit the Company’s employees or business opportunities for a period of time post-employment.

 

AGREEMENT

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants and agreements contained herein, the parties agree as follows:

 

1.             Definitions; Construction.

 

1.1           Definition. As used herein, the following words and phrases shall have the following respective meanings unless the
context clearly indicates otherwise.

 

(a)           Annual Bonus Amount.

 

1.           In the event the Date of Termination occurs prior to a Change in Control, the Annual Bonus Amount shall be the average of
the actual regular annual cash bonuses paid or payable to Employee with respect to the two fiscal years of the Company immediately
preceding the fiscal year in which the Date of Termination occurs (or such lesser number of fiscal years as Employee may have been
employed by the Company preceding the fiscal year in which the Date of Termination occurs) (the “Actual Bonus Amount“);
provided, however, that in the event the Date of Termination occurs in 2013, the Annual Bonus Amount shall equal
$100.000.00.

 

2.           In the event the Date of Termination occurs following a Change in Control the Annual Bonus Amount shall be the greater of
(i) the Actual Bonus Amount, or (ii) $100,000.00.

 

     

     

    

 

(b)           Base Salary. The Employee’s highest annual base salary in effect during the two-year period immediately preceding
the Date of Termination.

 

(c)           Board. The Board of Directors of the Company.

 

(d)           Cause.· Any of the following:

 

1.           conviction of a felony or a crime involving fraud or moral turpitude; or

 

2.           theft, material act of dishonesty or fraud, intentional falsification of any employment or Company records, or commission
of any criminal act which impairs Employee’s ability to perform appropriate employment duties for the Company; or

 

3.           intentional or reckless conduct or gross negligence materially harmful to the Company or the successor to the Company after
a Change in Control, including violation of a non-competition or confidentiality agreement; or

 

4.           willful failure to follow lawful instructions of the person or body to which Employee reports; or

 

5.           gross negligence or willful misconduct in the performance of Employee’s assigned duties. Cause shall not include mere
unsatisfactory performance in the achievement of Employee’s job objectives.

 

(e)           Change in Control. The occurrence of any one or more of the following: (i) the accumulation (if over time, in any
consecutive twelve (12) month period), whether directly, indirectly, beneficially or of record, by any individual, entity or group
(within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) of 50.1% or more of the
shares of the outstanding common stock of the Company, whether by merger, consolidation, sale or other transfer of shares of common
stock (other than a merger or consolidation where the stockholders of the Company prior to the merger or consolidation are the
holders of a majority of the voting securities of the entity that survives such merger or consolidation), (ii) a sale of all or
substantially all of the assets of the Company or (iii) during any period of twelve (12) consecutive months, the individuals who,
at the beginning of such period, constitute the Board, and any new director whose election by the Board or nomination for election
by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the 12-month period or whose election or nomination for election was previously so approved,
cease for any reason to constitute at least a majority of the Board; provided, however, that the following acquisitions
shall not constitute a Change in Control for the purposes of this Agreement: (A) any acquisitions of common stock or securities
convertible, exercisable or exchangeable into common stock directly from the Company or from any affiliate of the Company, or (B)
any acquisition of common stock or securities convertible, exercisable or exchangeable into common stock by any employee benefit
plan (or related trust) sponsored by or maintained by the Company.

 

(f)            Code. The Internal Revenue Code of 1986, as amended from time to time.

 

(g)           Date of Termination. The date on which the Employee has a Separation from Service from the Company.

 

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(h)           Disability. A physical or mental illness, injury, or condition that prevents Employee from performing substantially
all of Employee’s duties associated with Employee’s position or title with the Company for at least 90 days in a 12-month
period.

 

(i)            Good Reason. Without the express written consent of Employee, the occurrence of one of the following arising on or
after the date of this Agreement, as determined in a manner consistent with Treasury Regulation Section 1.409A-1(n)(2)(ii):

 

1.           a material reduction or change in Employee’s title or job duties, responsibilities and requirements that is inconsistent
with Employee’s position with the Company and Employee’s prior duties, responsibilities and requirements;

 

2.           a material reduction in the Employee’s Base Salary or bonus opportunity unless a proportionate reduction is made to
the Base Salary or bonus opportunity of all members of the Company‘s senior management ;

 

3.           a change of more than 50 miles in the geographic location at which the Employee primarily performs services for the Company;
or

 

4.           any material breach of this Agreement by the Company.

 

In the case of Employee’s
allegation of Good Reason, (1) Employee shall provide written notice to the Company of the event alleged to constitute Good Reason
within 30 days after the initial occurrence of such event, and (2) the Company shall have the opportunity to remedy the alleged
Good Reason event within 30 days from receipt of notice of such allegation.

 

(j)            Separation from Service. A “separation from service” within the meaning of Section 409A(a)(2)(A)(i) of
the Code and Treasury Regulation Section 1.409A-1(h).

 

1.2           Construction. Wherever appropriate, the singular shall include the plural, the plural shall include the singular,
and the masculine shall include the feminine.

 

2.             Term.

 

This Agreement shall
be effective as of the Effective Date and shall expire on the third anniversary thereof; provided, however, that
the expiration of this Agreement shall not affect the Employee’s rights to receive any payments or benefits otherwise due
as a result of a Separation from Service occurring prior to the expiration of this Agreement.

 

3.             Entitlement to Benefits.

 

The Employee shall
be entitled to separation benefits as set forth in Section 4 below if the Employee incurs a Separation from Service from the Company
during the term of this Agreement that is (a) initiated by the Company for any reason other than Cause, death, or Disability or
(b) initiated by the Employee for Good Reason and the Date of Termination occurs within 90 days following the expiration of the
cure period afforded the Company to rectify the condition giving rise to Good Reason (a “Qualifying Termination“).
If the Employee incurs a Separation from Service for any other reason, or after the term of this Agreement has expired, the Employee
shall not be entitled to any payments or benefits hereunder.

 

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4.             Separation Benefits.

 

If the Employee incurs
a Qualifying Termination, the benefits to which the Employee shall be entitled shall be determined as follows:

 

4.1           Prior to Change in Control. If the Qualifying Termination occurs prior to a Change in Control, and the Employee executes
the Release in accordance with Section 4.4 below, the Company shall:

 

(a)           Pay to Employee on the sixtieth (60th) day following the Date of Termination a lump-sum severance payment equal
to one and one-half (1.5) times the sum of:

 

1.         the Employee’s Base Salary, plus

 

2.         the Annual Bonus Amount.

 

(b)           In addition, provided Employee timely elects continuation coverage under the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended (“COBRA”), the Company shall pay for twelve (12) months following the Date of Termination (or
such shorter period as Employee is entitled to COBRA continuation coverage under the terms of the Company’s insurance policies
or plans), the premiums for the coverage elected by Employee.

 

4.2           On or After a Change in Control. If the Qualifying Termination occurs on or within twelve (12) months following a
Change in Control, and the Employee executes the Release in accordance with Section 4.4 below, the Company shall:

 

(a)           Pay to Employee on the sixtieth (60th) day following the Date of Termination a lump-sum severance payment equal to one and
one-half (1.5) times the sum of:

 

1.         the Employee’s Base Salary, plus

 

2.         the Annual Bonus Amount.

 

(b)           In addition, provided Employee timely elects continuation coverage under COBRA, the Company shall pay for eighteen (18)
months following the Date of Termination (or such shorter period as Employee is entitled to COBRA continuation coverage under the
terms of the Company’s insurance policies or plans), the premiums for the coverage elected by Employee.

 

4.3           Additional Benefits. Nothing in this Agreement shall be deemed to relieve the Company of its obligations under applicable
law to pay Employee all salary and other compensation accrued as of the Date of Termination, to reimburse Employee for any business
expenses properly incurred by Employee and reimbursable under the Company’s expense reimbursement policies in effect from
time to time, and to otherwise provide Employee with any benefits to which Employee may be due under the terms and conditions of
any employee benefit plans sponsored by the Company.

 

4.4           Release. As a condition precedent to the payment by the Company of the amounts set forth under the Section 4.1 or
4.2, as applicable, the Employee must execute a release in substantially the form attached hereto as Exhibit A (the “Release”)
within forty-five (45) days following the Date of Termination and not revoke such Release within the subsequent seven (7) day revocation
period (if applicable).

 

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5.             Section 280G.

 

Notwithstanding any
other provision of this Agreement, in the event that it shall be determined that the aggregate payments or distributions by the
Company to or for the benefit of Employee, whether paid or payable or distributed or distributable pursuant to the terms of this
Agreement or otherwise (the “Payments”), constitute “excess parachute payments” (as such term is defined
under Section 2800 of the Code or any successor provision, and the regulations promulgated thereunder (collectively, “Section
2800“)) that would be subject to the excise tax imposed by Section 4999 of the Code or any successor provision (collectively,
“Section 4999”) or any interest or penalties with respect to such excise tax (the total excise tax, together with any
interest and penalties, are hereinafter collectively referred to as the “Excise Tax”)), then the Payments shall be
either (a) delivered in full, or (b) delivered to such lesser extent that would result in no portion of the Payments being subject
to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state or local income and employment
taxes and the Excise Tax, results in the receipt by Employee, on an after-tax basis, of the greatest amount of benefits, notwithstanding
that all or some portion of such benefits may be subject to the Excise Tax. In the event that the Payments are to be reduced pursuant
to this Section 5, such Payments shall be reduced such that the reduction of compensation to be provided to Employee as a result
of this Section 5 is minimized. In applying this principle, the reduction shall be made in a manner consistent with the requirements
of Section 409A and where two economically equivalent amounts are subject to reduction but payable at different times, such amounts
shall be reduced on a pro rata basis (but not below zero). All calculations required pursuant to this Section 13 shall be performed
in good faith by nationally recognized registered public accountants or tax counsel selected by the Company.

 

6.             Confidential Material and Participant Obligations.

 

6.1           Confidential Material. The Employee shall not, directly or indirectly, either during the term of employment or thereafter,
disclose to anyone (except in the regular course of the Company’s business or as required by law), or use in any manner,
any information acquired by the Employee during employment by the Company with respect to any clients or customers of the Company
or any confidential, proprietary or secret aspect of the Company’s operations or affairs unless such information has become
public knowledge other than by reason of actions, direct or indirect, of the Employee. Information subject to the provisions of
this paragraph will include, without limitation:

 

(a)         Names, addresses and other information regarding investors in the Company’s or its affiliates’ gold exploration
or mining programs;

 

(b)         Lists of or information about personnel seeking employment with or who are currently employed by the Company or its affiliates;

 

(c)         Maps, logs, due diligence investigations, exploration prospects, geological information, mining reports and any other information
regarding past, planned or possible future leasing, exploration, mining, acquisition or other operations that the Company or its
affiliates have completed or are investigating or have investigated for possible inclusion in future activities; and

 

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(d)         Any other information or contacts relating to the Company’s or its affiliates’ exploration, mining, development,
fund-raising, purchasing, engineering, marketing, merchandising and selling activities.

 

6.2           Return of Confidential Material. All maps, logs, data, drawings and other records and written and digital material
prepared or compiled by the Employee or furnished to the Employee during the term of employment will be the sole and exclusive
property of the Company, and none of such material may be retained by the Employee upon termination of employment. The aforementioned
materials include materials on the Employee’s personal computer. The Employee shall return to the Company or destroy all
such materials on or prior to the Date of Termination. Notwithstanding the foregoing, the Employee will be under no obligation
to return or destroy public information.

 

6.3           Non-Compete. The Employee shall not directly, either during the term of employment or for a period of one (1) year
thereafter, engage in any Competitive Business (as defined below) within Pershing County; provided, however, that
the ownership of less than five percent (5%) of the outstanding capital stock of a corporation whose shares are traded on a national
securities exchange or on the over-the-counter market shall not be deemed engaging in a Competitive Business. “Competitive
Business” shall mean typical gold exploration and mining activities, including mineral leasing, exploration, mining, or any
other business activities, that are in direct conflict with the business or interests of the Company’s or an affiliates business
operations as its business exist on the Date of Termination.

 

6.4           No Solicitation. The Employee shall not, directly or indirectly, either during the term of employment or for a period
of one (1) year thereafter, (i) solicit, directly or indirectly, the services of any person who was a full-time employee of the
Company, its subsidiaries, divisions or affiliates, or otherwise induce such employee to terminate or reduce such employment, or
(ii) solicit the business of any person who was a client or customer of the Company, its subsidiaries, divisions or affiliates,
in each case at any time during the last year of the term of employment. For purposes of this Agreement, the term “person”
includes natural persons, corporations, business trusts, associations, sole proprietorships, unincorporated organizations, partnerships,
joint ventures, limited liability companies or partnerships, and governments, or any agencies, instrumentalities or political subdivisions
thereof.

 

6.5           Remedies. The Employee acknowledges and agrees that the Company’s remedy at law for a breach or a threatened
breach of the provisions herein would be inadequate, and in recognition of this fact, in the event of a breach or threatened breach
by the Employee of any of the provisions of this Agreement, it is agreed that the Company will be entitled to equitable relief
in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable
remedy which may then be available, without posting bond or other security. The Employee acknowledges that the granting of a temporary
injunction, a temporary restraining order or other permanent injunction merely prohibiting the Employee from engaging in any business
activities would not be an adequate remedy upon breach or threatened breach of this Agreement, and consequently agrees upon any
such breach or threatened breach to the granting of injunctive relief prohibiting the Employee from engaging in any activities
prohibited by this Agreement. No remedy herein conferred is intended to be exclusive of any other remedy, and each and every such
remedy will be cumulative and will be in addition to any other remedy given hereunder now or hereinafter existing at law or in
equity or by statute or otherwise. In addition, in the event of any breach or suspected breach of the provisions of this Section
6, the Company shall have the right to suspend immediately any payments or benefits that may otherwise be due Employee pursuant
to this Agreement.

 

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7.             Successor to Company.

 

This Agreement shall
bind any successor of the Company, its assets or its businesses (whether direct or indirect, by purchase, merger, consolidation
or otherwise), in the same manner and to the same extent that the Company would be obligated under this Agreement if no succession
had taken place. In the case of any transaction in which a successor would not by the foregoing provision or by operation of law
be bound by this Agreement, the Company shall require such successor expressly and unconditionally to assume and agree to perform
the Company’s obligations under this Agreement, in the same manner and to the same extent that the Company would be required
to perform if no such succession had taken place. The term “Company,” as used in this Agreement shall mean the Company
as hereinbefore defined and any successor or assignee to the business or assets which by reason hereof becomes bound by this Agreement.

 

8.             Miscellaneous.

 

8.1           Full Settlement. Except as otherwise specifically provided herein, the Company’s obligation to make the payments
provided for under this Agreement and otherwise to perform its obligations hereunder shall not be affected by any set-off, counterclaim,
recoupment, defense or other claim, right or action which the Company may have against the Employee. In no event shall the Employee
be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to the Employee under
any of the provisions of this Agreement and such amounts shall not be reduced whether or not the Employee obtains other employment.

 

8.2           Employment Status. This Agreement does not constitute a contract of employment or impose on the Employee or the Company
any obligation for the Employee to remain an employee or change the status of the Employee’s employment or the policies of
the Company regarding termination of employment.

 

8.3           Unfunded Agreement Status. All payments pursuant to the Agreement shall be made from the general funds of the Company
and no special or separate fund shall be established or other segregation of assets made to assure payment. The Employee shall
not have under any circumstances any interest in any particular property or assets of the Company as a result of this Agreement.
Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one or more grantor trusts, the assets of
which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under
this Agreement.

 

8.4           Section 409A.

 

(a)        General. The payments and benefits provided hereunder are intended to be exempt from or compliant with the requirements
of Section 409A of the Code. Notwithstanding any provision of this Agreement to the contrary, in the event that the Company reasonably
determines that any payments or benefits hereunder are not either exempt from or compliant with the requirements of Section 409A
of the Code, the Company shall have the right to adopt such amendments to this Agreement or adopt such other policies and procedures
(including amendments, policies and procedures with retroactive effect), or take any other actions, that are necessary or appropriate
(i) to preserve the intended tax treatment of the payments and benefits provided hereunder, to preserve the economic benefits with
respect to such payments and benefits, and/or (ii) to exempt such payments and benefits from Section 409A of the Code or to comply
with the requirements of Section 409A of the Code and thereby avoid the application of penalty taxes or interest thereunder: provided,
however, that this Section 8.4(a) does not, and shall not be construed so as to, create any obligation on the part of the Company
to adopt any such amendments, policies or procedures or to take any other such actions or to indemnify the Employee for any failure
to do so, Employee shall, at the request of the Company, take any action (or refrain from taking any action) required to comply
with any correction procedure promulgated pursuant to Section 409A of the Code.

 

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(b)        Exceptions to Apply. The Company shall apply the exceptions provided in Treasury Regulation Section 1.409A-1(b)(4),
Treasury Regulation Section 1.409A-1(b)(9) and all other applicable exceptions or provisions of Section 409A of the Code to the
payments and benefits provided under this Agreement so that, to the maximum extent possible such payments and benefits are not
“nonqualified deterred compensation” subject to Section 409A of the Code. All payments and benefits provided under
this Agreement shall be deemed to be separate payments (and any payments made in installments shall be deemed a series of separate
payments) and a separately identifiable or designated amount for purposes of Section 409A of the Code.

 

(c)        Taxable Reimbursements. To the extent that any payments or reimbursements provided to the Employee are deemed to
constitute “nonqualified deferred compensation” subject to Section 409A of the Code, such amounts shall be paid or
reimbursed reasonably promptly, but not later than December 31 of the year following the year in which the expense was incurred.
The amount of any payments or expense reimbursements that constitute compensation in one year shall not affect the amount of payments
or expense reimbursements constituting compensation that are eligible for payment or reimbursement in any subsequent year, and
the Employee’s right to such payments or reimbursement of any such expenses shall not be subject to liquidation or exchange
for any other benefit.

 

(d)        Specified Employee. Notwithstanding anything to the contrary in this Agreement, no compensation or benefits that
are “nonqualified deferred compensation” subject to Section 409A of the Code shall be paid to Employee during the 6-month
period following his Separation from Service to the extent that the Company determines that the Employee is a “specified
employee” and that paying such amounts at the time or times indicated in this Agreement would be a prohibited distribution
under Section 409A(a)(2)(B)(i) of the Code. If the payment of any such amounts is delayed as a result of the previous sentence,
then on the first business day following the end of such 6-month period (or such earlier date upon which such amount can be paid
under Section 409A of the Code without being subject to such additional taxes, including as a result of the Employee’s death),
the Company shall pay to the Employee a lump-sum amount equal to the cumulative amount that would have otherwise been payable to
the Employee during such 6-month period.

 

8.5           Validity and Severability. The invalidity or unenforceability of any provision of the Agreement shall not affect
the validity or enforceability of any other provision of the Agreement, which shall remain in full force and effect, and any prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

8.6           Governing Law. The validity, interpretation, construction and performance of the Agreement shall in all respects
be governed by the laws of Nevada, without reference to principles of conflict of law, except to the extent pre-empted by federal
law.

 

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8.7           Withholding. All payments to the Employee made in accordance with the provisions of this Agreement shall be subject
to applicable withholding of local state, federal and foreign taxes and other deductions required or permitted to be made by law,
as determined in the sole discretion of the Company.

 

8.8           Clawback. Employee agrees to be bound by the provisions of any recoupment or “clawback” policy that the
Company may adopt from time to time that by its terms is applicable to Employee, or by any recoupment or “clawback”
that is otherwise required by law or the listing standards of any exchange on which the Company’s common stock is then traded,
including the “clawback” required by Section 954 of the Dodd-Frank Act.

 

8.9           Indemnification.

 

(a)        Corporate Acts. In Employee’s capacity as a director, manager, officer, or employee of the Company or serving
or having served any other entity as a director, manager, officer, or employee at the Company’s request, Employee shall be
indemnified and held harmless by the Company to the fullest extent allowed by law, the Company’s Certificate of Incorporation
and Bylaws, from and against any and all losses, claims, damages, liabilities, expenses (including legal fees and expenses), judgments,
fines, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings, civil, criminal,
administrative or investigative, in which Employee may be involved, or threatened to be involved, as a party or otherwise by reason
of Employee’s status, which relate to or arise out of the Company, their assets, business or affairs, if in each of the foregoing
cases, (i) Employee acted in good faith and in a manner Employee believed to be in the best interests of the Company, and, with
respect to any criminal proceeding, had no reasonable cause to believe Employee’s conduct was unlawful, and (ii) Employee’s
conduct did not constitute gross negligence or willful or wanton misconduct. The Company shall advance all reasonable expenses
incurred by Employee in connection with the investigation, defense, settlement or appeal of any civil or criminal action or proceeding
referenced in this Section, including but not necessarily limited to, reasonable fees of legal counsel, expert witnesses or other
litigation-related expenses.

 

(b)        Directors & Officers Insurance. During the Employee’s term of employment and thereafter for six years after
the Employee’s employment terminates, Employee shall be entitled to coverage under the Company’s directors and officers
liability insurance policy and any other insurance policy providing coverage to directors or officers of the Company, subject to
the terms of such policies, in effect at any time in the future to no lesser extent than any other officers or directors of the
Company.

 

8.10         Survival of Provisions. Notwithstanding anything herein to the contrary, the provisions of Sections 4, 5, 6, 7 and
8 of this Agreement shall survive the expiration of this Agreement and the termination of the employment Term for any reason.

 

 

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IN WITNESS WHEREOF,
the parties hereto have executed this Severance Compensation Agreement as of the date first above written.

 

	 	PERSHING GOLD CORPORATION
	 	 	 
	 	 	 
	 	By:  	/s/ Stephen Alfers	 
	 	Name: 	Stephen Alfers	 
	 	Title:  	Chief Executive Officer, President and Chairman	 
	 	 	 
	 	DEBRA W. STRUHSACKER	 
	 	 	 
	 	/s/ Debra W. Struhsacker	 

 

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EXHIBIT A

 

GENERAL RELEASE OF CLAIMS

 

This General Release
(this “Release”) is entered into as of this _____ day of ________________, 20___, by and between Pershing Gold Corporation
(the “Company”) and (the “Employee”) (collectively, the “Parties”).

 

WHEREAS, the Employee
is a party to that certain Severance Compensation Agreement, dated September 9, 2013 (the “Agreement”), governing the
terms and conditions applicable to the Employee’s termination of employment under certain circumstances;

 

WHEREAS, pursuant to
the terms of the Agreement, the Company has agreed to provide the Employee certain benefits and payments under the term and conditions
specified therein, provided that the Employee has executed and not revoked a general release of claims in favor of the Company;

 

WHEREAS, the Employee’s
employment with the Company is being terminated effective ______________, 20___; and

 

WHEREAS, the Parties
wish to terminate their relationship amicably and to resolve, fully and finally, all actual and potential claims and disputes relating
to the Employee’s employment with and termination from the Company and all other relationships between the Employee and the
Company, up to and including the date of execution of this Release.

 

NOW, THEREFORE, in
consideration of these recitals above and the promises and mutual covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are expressly acknowledged, the Parties, intending to be legally bound, agree as follows:

 

		1.	Termination of Employee. The Employee’s employment with the Company shall terminate
on ____________, 20___ (the “Termination Date”).

 

		2.	Severance Benefits. Pursuant to the terms of the Agreement, and in consideration of the
Employee’s release of claims and the other covenants and agreements contained herein and therein, and provided that the Employee
has signed this Release and delivered it to the Company and has not exercised any revocation rights as provided in Section 6 below,
the Company shall provide the severance benefits described in Section 4 of the Agreement (the “Benefits“) in the time
and manner provided therein; provided, however, that the Company’s obligations will be excused if the Employee
breaches any of the provisions of the Agreement, including, without limitation, Section 6 thereof. The Employee acknowledges and
agrees that the Benefits constitute consideration beyond that which, but for the mutual covenants set forth in this Release and
the covenants contained in the Agreement, the Company otherwise would not be obligated to provide, nor would the Employee otherwise
be entitled to receive.

 

		3.	Effective Date. Provided that it has not been revoked pursuant to Section 6 hereof, this
Release will become effective on the eighth (8th) day after the date of its execution by the Employee (the “Effective Date”).

 

		4.	Effect of Revocation. The Employee acknowledges and agrees that if the Employee revokes
this Release pursuant to Section 6 hereof, the Employee will have no right to receive the Benefits.

 

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		5.	General Release. In consideration of the Company’s obligations, the Employee hereby
releases, acquits and forever discharges the Company and each of its subsidiaries and affiliates and each of their respective officers,
employees, directors, successors and assigns (collectively, the “Released Parties”) from any and all claims, actions
or causes of action in any way related to his employment with the Company or the termination thereof, whether arising from tort,
statute or contract, including, but not limited to, claims of defamation, claims arising under the Employee Retirement Income Security
Act of 1974, as amended, the Age Discrimination in Employment Act of 1967, as amended by the Older Workers Benefit Protection Act
of 1990, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Family and Medical Leave
Act, the discrimination and wage payment laws of any state, and any other federal, state or local statutes or ordinances of the
United States, it being the Employee’s intention and the intention of the Company to make this release as broad and as general
as the law permits. The Employee understands that this Release does not waive any rights or claims that may arise after his execution
of it and does not apply to claims arising under the terms of the Agreement with respect to payments the Employee may be owed pursuant
to the terms thereof.

 

		6.	Review and Revocation Period. The Employee acknowledges that the Company has advised the
Employee that the Employee may consult with an attorney of the Employee’s own choosing (and at the Employee’s expense)
prior to signing this Release and that the Employee has been given at least forty-five (45) days during which to consider the provisions
of this Release, although the Employee may sign and return it sooner. The Employee further acknowledges that the Employee has been
advised by the Company that after executing this Release, the Employee will have seven (7) days to revoke this Release, and that
this Release shall not become effective or enforceable until such seven (7) day revocation period has expired. The Employee acknowledges
and agrees that if the Employee wishes to revoke this Release, the Employee must do so in writing, and that such revocation must
be signed by the Employee and received by the Chairman of the Board of the Company (the “Board”) (or the Chair of the
Compensation Committee) no later than 5:00 p.m. Mountain Time on the seventh (7th) day after the Employee has executed this Release.
The Employee further acknowledges and agrees that, in the event that the Employee revokes this Release, the Employee will have
no right to receive any benefits hereunder, including the Benefits. The Employee represents that the Employee has read this Release
and understands its terms and enters into this Release freely, voluntarily and without coercion.

 

		7.	Confidentiality, Non-Compete and Non-Solicitation. The Employee reaffirms Employee’s
commitments in Section 6 of the Agreement.

 

		8.	Cooperation in Litigation. At the Company’s reasonable request the Employee shall
use good faith efforts to cooperate with the Company, its affiliates, and each of its and their respective attorneys or other legal
representatives (“Attorneys”) in connection with any claim, litigation or judicial or arbitral proceeding which is
material to the Company or its affiliates and is now pending or may hereinafter be brought against the Released Parties by any
third party; provided, that, the Employee’s cooperation is essential to the Company’s case. The Employee’s duty
of cooperation will include, but not be limited to: (a) meeting with the Company’s and/or its affiliates’ Attorneys
by telephone or in person at mutually convenient times and places in order to state truthfully the Employee’s knowledge of
matters at issue and recollection of events; (b) appearing at the Company’s, its affiliates’ and/or their Attorneys
request (and, to the extent possible, at a time convenient to the Employee that does not conflict with the needs or requirements
of the Employee’s then-current employer) as a witness at depositions or trials, without necessity of a subpoena, in order
to state truthfully the Employee’s knowledge of matters at issue; and (c) signing at the Company’s, its affiliates’
and/or their Attorneys ’ request declarations or affidavits that truthfully state matters of which the Employee has knowledge.
The Company shall reimburse the Employee for the reasonable expenses incurred by him in the course of his cooperation hereunder
and shall pay to the Employee per diem compensation in an amount equal to the daily prorated portion of the Employee’s base
salary immediately prior to the Termination Date. The obligations set forth in this Section 8 shall survive any termination or
revocation of this Release.

 

    A-2 

     

    

 

		9.	Non-Admission of Liability. Nothing in this Release will be construed as an admission of
liability by the Employee or the Released Parties; rather, the Employee and the Released Parties are resolving all matters arising
out of the employer-employee relationship between the Employee and the Company and all other relationships between the Employee
and the Released Parties.

 

		10.	Nondisparagement. The Employee agrees not to make negative comments or otherwise disparage
the Company or its officers, directors, employees, shareholders or agents, in any manner likely to be harmful to them or their
business, business reputation or personal reputation. The Company agrees that the members of the Board and officers of the Company
as of the date hereof will not, while employed by the Company or serving as a director of the Company, as the case may be, make
negative comments about the Employee or otherwise disparage the Employee in any manner that is likely to be harmful to the Employee’s
business or personal reputation. The foregoing shall not be violated by truthful statements in response to legal process or required
governmental testimony or filings, and the foregoing limitation on the Company’s directors and officers will not be violated
by statements that they in good faith believe are necessary or appropriate to make in connection with performing their duties for
or on behalf of the Company.

 

		11.	Binding Effect. This Release will be binding upon the Parties and their respective heirs,
administrators, representatives, executors, successors and assigns, and will inure to the benefit of the Parties and their respective
heirs, administrators, representatives, executors, successors and assigns.

 

		12.	Governing Law. This Release will be governed by and construed and enforced in accordance
with the laws of the State of Nevada applicable to agreements negotiated, entered into and wholly to be performed therein, without
regard to its conflicts of law or choice of law provisions which would result in the application of the law of any other jurisdiction.

 

		13.	Severability. Each of the respective rights and obligations of the Parties hereunder will
be deemed independent and may be enforced independently irrespective of any of the other rights and obligations set forth herein.
If any provision of this Release should be held illegal or invalid, such illegality or invalidity will not affect in any way other
provisions hereof, all of which will continue, nevertheless, in full force and effect.

 

		14.	Counterpart. This Release may be signed in counterparts. Each counterpart will be deemed
to be an original but together all such counterparts will be deemed a single agreement.

 

    A-3 

     

    

 

		15.	Entire Agreement; Modification. This Release constitutes the entire understanding between
the Parties with respect to the subject matter hereof and may not be modified without the express written consent of both Parties.
This Release supersedes all prior written and/or oral and all contemporaneous oral agreements, understandings and negotiations
regarding its subject matter. This Release may not be modified or canceled in any manner except by a writing signed by both Parties.

 

		16.	Acceptance. The Employee may confirm acceptance of the terms and conditions of this Release
by signing and returning two (2) original copies of this Release to the Chairman of the Board, no later than 5:00 p.m. Mountain
Time forty five (45) days after the Employee’s Termination Date.

 

THE EMPLOYEE ACKNOWLEDGES AND REPRESENTS
THAT THE EMPLOYEE HAS FULLY AND CAREFULLY READ THIS RELEASE PRIOR TO SIGNING IT AND UNDERSTANDS ITS TERMS. THE EMPLOYEE FURTHER
ACKNOWLEDGES AND AGREES THAT THE EMPLOYEE HAS BEEN, OR HAS HAD THE OPPORTUNITY TO BE, ADVISED BY INDEPENDENT LEGAL COUNSEL OF THE
EMPLOYEE’S OWN CHOICE AS TO THE LEGAL EFFECT AND MEANING OF EACH OF THE TERMS AND CONDITIONS OF THIS RELEASE, AND IS ENTERING
INTO THIS RELEASE FREELY AND VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES OR REPRESENTATIONS OTHER THAN AS SET FORTH IN THIS
RELEASE.

 

 

    A-4 

     

    

 

 

 

IN WITNESS WHEREOF,
the Company and the Employee have duly executed this Release as of the date first above written,

 

 

	 	PERSHING GOLD CORPORATION
	 	 
	 	 
	 	By: ___________________________________
	 	Name:  Stephen Alfers
	 	Title:    Chief Executive Officer, President and Chairman
	 	 
	 	DEBRA W. STRUHSACKER
	 	 
	 	______________________________________

 

 

    A-5[Exhibit 10.44]

 

SHARE PURCHASE AGREEMENT

 

This Share Purchase
Agreement (this “Agreement”) is dated as of August 10, 2015 (the “Effective Date”), between
SurePure, Inc., a Nevada corporation (the “Company”), and M Cubed Holdings Limited, a corporation formed
under the laws of South Africa with registration number 1998/014568/06 (the “Purchaser”).

 

WHEREAS, on April 17,
2013, the Purchaser entered into the Loan Agreement, dated that date (the “Loan Agreement”), with SurePure Marketing
South Africa Pty. Ltd., a corporation formed under the laws of South Africa with registration number 2007/031989/07 (“SPMSA”)
and a wholly-owned indirect subsidiary of the Company;

 

WHEREAS, the Purchaser
has loaned ZAR 2,000,000 to SPMSA;

 

WHEREAS, as at July
31 2015 the amount outstanding, including capitalized interest and bank fees, is ZAR 3,542,204;

 

WHEREAS, the Company
has assumed the obligations of SPMSA under the Loan Agreement;

 

WHEREAS, the Purchaser
has agreed to accept 1,676,000 Conversion Shares (as defined in Section 2.1) as payment in full of the obligations of the Company
and SPMSA under the Loan Agreement;

 

WHEREAS, subject to
the terms and conditions set forth in this Agreement and pursuant to Section 4(2) of the Securities Act of 1933, as amended
(the “Securities Act”), and Regulation S promulgated thereunder, the Company desires to issue to the Purchaser,
and the Purchaser desires to accept from the Company, securities of the Company as more fully described in this Agreement; and

 

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

 

ARTICLE I.

DEFINITIONS

 

1.1 Definitions.
In addition to the terms defined elsewhere in this Agreement, the following terms have the meanings set forth in this Section 1.1:

 

“Action”
shall have the meaning given to such term in Section 3.1(j).

 

“Affiliate”
means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common
control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

 

     

     

    

  

“Board of Directors”
means the board of directors of the Company.

 

“Business Day”
means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which
banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 

“Closing”
means the issuance and delivery of the Conversion Shares pursuant to Section 2.1.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Common Stock”
means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such securities
may hereafter be reclassified or changed.

 

“Common Stock
Equivalents” means any securities of the Company which would entitle the holder thereof to acquire at any time Common
Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time
convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“GAAP”
shall have the meaning given to such term in Section 3.1(h).

 

“Lien”
means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.

 

“Loan Agreement”
has the meaning given it in the first recital above.

 

“Material Adverse
Effect” shall have the meaning assigned to such term in Section 3.1(b).

 

“Person”
means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability
company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind.

 

“Preferred Stock”
means shares of the Company’s Nonvoting Convertible Preferred Stock, par value $0.01 per share.

 

“Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial
proceeding, such as a deposition), whether commenced or threatened.

 

“Registration
Rights Schedule” means the Registration Rights Schedule attached as Schedule A to this Agreement and made a part of this
Agreement.

 

“Required Approvals”
shall have the meaning given to such term in Section 3.1(e).

 

“Regulation
S” means Regulation S promulgated by the Commission pursuant to the Securities Act, as such Regulation 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 Regulation.

 

     

     

    

  

“Rule 144”
means Rule 144 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.

 

“SEC Reports”
shall have the meaning given to such term in Section 3.1(h).

 

“Shares”
means shares of the Company’s Common Stock.

 

“Short Sales”
means all “short sales” as defined in Rule 200 of Regulation SHO under the Exchange Act (but shall not be deemed to
include the location and/or reservation of borrowable shares of Common Stock).

 

“Subsidiary”
means any subsidiary of the Company as set forth in the SEC Reports.

 

“Transaction
Documents” means this Agreement and all exhibits and schedules hereto and any other documents or agreements executed
in connection with the transactions contemplated hereunder.

 

“Transfer
Agent” means Vstock Transfer, LLC, the current transfer agent of the Company, with a mailing address of 18 Lafayette
Place, Woodmere, New York 11598, and any successor transfer agent of the Company.

 

ARTICLE II.

PURCHASE AND SALE

 

2.1 Delivery of Conversion Shares.
On the Effective Date, and subject to the terms and subject to the conditions set forth herein, the Company will sell, issue and
deliver 1,676,000 Shares of Common Stock (the “Conversion Shares”) to the Purchaser, and the Purchaser will
accept the Conversion Shares in full and complete payment of the Loan Obligation and all other amounts due under the Loan Agreement.

 

2.2 Release of the
Company. Upon delivery of the Conversion Shares to the Lender, the Company will thereby be released and discharged in full
from any and all obligations whatsoever to the Purchaser under the Loan Agreement and the Loan Agreement will be terminated in
full.

 

2.3 Registration Rights.
The Conversion Shares shall have the benefit of the registration rights provided in the Registration Rights Schedule.

 

ARTICLE III.

REPRESENTATIONS AND
WARRANTIES

 

3.1 Representations
and Warranties of the Company. The Company hereby makes the following representations and warranties to the Purchaser:

 

(a) Subsidiaries.
All of the direct and indirect Subsidiaries of the Company are set forth in the Prospectus. The Company owns, directly or indirectly,
all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding
shares of capital stock of each Subsidiary are validly issued and are fully paid, non-assessable and free of preemptive and similar
rights to subscribe for or purchase securities.

 

     

     

    

  

(b) Organization and
Qualification. The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority
to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary
is in violation or default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other
organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good
standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property
owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may
be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability
of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition
(financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the
Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any
of (i), (ii) or (iii), a “Material Adverse Effect”), and no Proceeding has been instituted in any such
jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority or qualification.

 

(c) Authorization;
Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated
by this Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.
The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation by
it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company
and no further action is required by the Company, the Board of Directors or the Company’s stockholders in connection herewith
or therewith other than in connection with the Required Approvals. This Agreement and each other Transaction Document to which
it is a party has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the
terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance
with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited
by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar
as indemnification and contribution provisions may be limited by applicable law.

 

     

     

    

  

(d) No Conflicts.
The execution, delivery and performance by the Company of this Agreement and the other Transaction Documents to which it is a party,
the issuance and delivery of the Conversion Shares and the consummation by it of the transactions contemplated hereby and thereby
do not and will not: (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate
or articles of incorporation, bylaws or other organizational or charter documents, (ii) conflict with, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, result in the creation of any Lien upon any
of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, acceleration
or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing
a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which
any property or asset of the Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict
with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations),
or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and
(iii), such as could not have or reasonably be expected to result in a Material Adverse Effect.

 

(e) Filings, Consents
and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or
make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by the Company of the Transaction Documents, other than: (i) the
filings required pursuant to the Registration Rights Agreement and (ii)  the filing of Form D with the Commission and such
filings as are required to be made under applicable state securities laws (collectively, the “Required Approvals”).

 

(f) Issuance of the
Shares. The Conversion Shares are duly authorized and, when issued and delivered in accordance with the applicable Transaction
Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company other
than restrictions on transfer provided for in the Transaction Documents.

 

(g) Capitalization.
The capitalization of the Company is as set forth in the SEC Reports. As of June 30, 2015, there were issued and outstanding 14,800,000,
shares of Preferred Stock and 47,345,816 shares of Common Stock. No Person has any right of first refusal, preemptive right, right
of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents. There are
no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or
securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe
for or acquire any shares of Common Stock, or contracts, commitments, understandings or arrangements by which the Company or any
Subsidiary is or may become bound to issue additional shares of Common Stock or Common Stock Equivalents. The issuance and delivery
of the Conversion Shares will not obligate the Company to issue shares of Common Stock or other securities to any Person and will
not result in a right of any holder of Company securities to adjust the exercise, conversion, exchange or reset price under any
of such securities. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid
and nonassessable, have been issued in compliance with all applicable federal and state securities laws, and none of such outstanding
shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities. No further approval
or authorization of any stockholder, the Board of Directors or others is required for the issuance and delivery of the Conversion
Shares under this Agreement. There are no stockholders agreements, voting agreements or other similar agreements with respect to
the Company’s capital stock to which the Company is a party or, to the knowledge of the Company, between or among any of
the Company’s stockholders.

 

     

     

    

  

(h) SEC Reports; Financial
Statements. The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the
Company under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years
preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the
foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred
to herein as the “SEC Reports”) on a timely basis or has received a valid extension of such time of filing and
has filed any such SEC Reports prior to the expiration of any such extension. As of their respective dates, the SEC Reports complied
in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable, and none of the SEC Reports
that were filed on or after December 12, 2012, when filed, contained any untrue statement of a material fact or omitted to state
a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. The financial statements of the Company included in the SEC Reports comply in all material
respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect
at the time of filing. Such financial statements have been prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified
in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes
required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries
as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of
unaudited statements, to normal, immaterial, year-end audit adjustments.

 

(i) Material Changes;
Undisclosed Events, Liabilities or Developments. Since the date of the latest audited financial statements included within
the SEC Reports, except as specifically disclosed in a subsequent SEC Report filed prior to the date hereof: (i) there has
been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect,
(ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued
expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be
reflected in the Company’s financial statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the
Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of
cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its
capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant
to existing Company stock option plans. The Company does not have pending before the Commission any request for confidential treatment
of information. Except for the issuance of the Shares contemplated by this Agreement, no event, liability, fact, circumstance,
occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its
Subsidiaries or their respective businesses, properties, operations, assets or financial condition, that would be required to be
disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been
publicly disclosed.

 

     

     

    

  

(j) Litigation.
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company,
threatened against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator,
governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or
the Shares or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse
Effect. Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving
a claim of violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not
been, and to the knowledge of the Company, there is no investigation by the Commission, whether pending or contemplated, involving
the Company or any current director or officer of the Company. The Commission has not issued any stop order or other order suspending
the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities
Act.

 

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

 

(l) Private Placement.
Assuming the accuracy of the Purchaser’s representations and warranties set forth in Section 3.2, no registration under
the Securities Act is required for the offer and sale of the Shares by the Company to the Purchaser as contemplated hereby.

 

(m) Listing and Maintenance
Requirements. The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has
taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common
Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating such
registration. The Company has not, in the 12 months preceding the date hereof, received notice from any trading market to the effect
that the Company is not in compliance with the listing or maintenance requirements of such trading market. The Company is in compliance
with all such listing and maintenance requirements.

 

(n) Disclosure.
Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company
confirms that neither it nor any other Person acting on its behalf has provided the Purchaser or its agents or counsel with any
information that it believes constitutes or might constitute material, non-public information. The Company understands and confirms
that the Purchaser will rely on the foregoing representation in effecting transactions in securities of the Company. All of the
disclosures furnished by or on behalf of the Company to the Purchaser regarding the Company and its Subsidiaries, their respective
businesses and the transactions contemplated hereby are true and correct and do not contain any untrue statements of a material
fact or omit to state any material fact necessary in order to make the statements made therein, in light of the circumstances under
which they were made, not misleading. The Company acknowledges and agrees that the Purchaser is not making or has not made any
representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in Section 3.2.

 

     

     

    

  

3.2 Representations
and Warranties of the Purchaser. The Purchaser hereby represents and warrants as of the date hereof and as of each Closing
Date to the Company as follows (unless as of a specific date therein):

 

(a) Organization;
Authority. The Purchaser is an entity duly incorporated or formed, validly existing and in good standing under the laws of
the jurisdiction of its incorporation or formation with full right, corporate, partnership, limited liability company or similar
power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to
carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by
the Purchaser of the transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate,
partnership, limited liability company or similar action, as applicable, on the part of the Purchaser. Each Transaction Document
to which it is a party has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance with the terms
hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable against it in accordance with its
terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws
relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

(b) Own Account.
The Purchaser understands that the Shares are “restricted securities” and have not been registered under the Securities
Act or any applicable state securities law and is acquiring the Shares as principal for its own account and not with a view to
or for distributing or reselling such Shares or any part thereof in violation of the Securities Act or any applicable state securities
law, has no present intention of distributing any of such Shares in violation of the Securities Act or any applicable state securities
law and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution
of such Shares in violation of the Securities Act or any applicable state securities law. The Purchaser is acquiring the Shares
hereunder in the ordinary course of its business.

 

(c) Purchaser Status.
The Purchaser is a person other than a “U.S. Person” as defined in Rule 901 under the Securities Act. The Purchaser
is not acquiring the Conversion Shares for the benefit of any U.S. Person. The Purchaser will be the sole beneficial owner of the
Conversion Shares, and the Purchaser has not pre-arranged any sale with respect to any of the foregoing to any persons in the United
States. For purposes of this representation, a “U.S. person” shall include, without limitation, any natural person
resident in the United States, any partnership or corporation organized or non-U.S. banks or insurance companies, any estate of
which executor or person (with certain exceptions) and any agency or bank of a foreign entity located in the United States, but
does not include a natural person not resident in the United States; and the “United States” means the United States
of America, its territories and possessions, any state of the United States and the District of Columbia. The Purchaser is outside
the United States as of the date of the execution and delivery of this Agreement and will be outside the United States at the time
of the Closing; provided, that delivery of the Shares may be effected within the United States through the Purchaser’s
agent as long as the Purchaser is outside the United States at the time of any such delivery. The purchase of the Shares under
this Agreement is not part of a plan or scheme to evade the registration provisions of the Securities Act.

 

     

     

    

  

(d) Experience of
the Purchaser. The Purchaser has such knowledge, sophistication and experience in business and financial matters so as to be
capable of evaluating the merits and risks of the prospective investment in the Shares, and has so evaluated the merits and risks
of such investment. The Purchaser is able to bear the economic risk of an investment in the Shares and is able to afford a complete
loss of such investment. The Purchaser and its advisors, if any, have been furnished with all materials relating to the business,
financial condition and results of operations of the Company, and materials relating to the offer and sale of the Shares, that
have been requested by the Purchaser or its advisors, if any. The Purchaser acknowledges and understands that its investment in
the Shares involves a significant degree of risk.

 

(e) Certain Transactions
and Confidentiality. Other than consummating the transactions contemplated hereunder, the Purchaser has not directly or indirectly,
nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, executed any purchases or sales, including
Short Sales, of the securities of the Company during the period commencing as of the time that the Purchaser first received
a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material terms of
the transactions contemplated hereunder and ending immediately prior to the execution hereof. Other than to other Persons party
to this Agreement, the Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction
(including the existence and terms of this transaction). Notwithstanding the foregoing, for avoidance of doubt, nothing contained
herein shall constitute a representation or warranty, or preclude any actions, with respect to the identification of the availability
of, or securing of, available shares to borrow in order to effect Short Sales or similar transactions in the future.

 

ARTICLE IV.

OTHER AGREEMENTS OF
THE PARTIES

 

4.1 Transfer Restrictions.

 

(a) The Shares may only
be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares other than pursuant
to an effective registration statement, under Regulation S, to the Company or to an Affiliate of the Purchaser, the Company may
require the transferor thereof to provide to the Company an opinion of counsel selected by the transferor and reasonably acceptable
to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such
transfer does not require registration of such transferred Shares under the Securities Act. As a condition of transfer, any such
transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights and obligations of the Purchaser
under this Agreement.

 

(b) As long as is required
by the Securities Act, certificates representing the Shares shall bear a legend in the following form:

 

THIS SECURITY HAS NOT
BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION
FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION
FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL
BE REASONABLY ACCEPTABLE TO THE COMPANY.

 

     

     

    

  

4.2 Furnishing of
Information; Public Information. Until the Purchaser owns no Shares, the Company covenants to maintain the registration of
the Common Stock under Section 12(b) or 12(g) of the Exchange Act and to timely file (or obtain extensions in respect thereof
and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to
the Exchange Act even if the Company is not then subject to the reporting requirements of the Exchange Act.

 

4.3 Non-Public Information.
Neither the Company, nor any other Person acting on its behalf, will provide any Purchaser or its agents or counsel with any information
that the Company believes constitutes material non-public information, unless prior thereto the Purchaser shall have entered into
a written agreement with the Company regarding the confidentiality and use of such information. The Company understands and confirms
that the Purchaser is relying on the foregoing covenant in effecting transactions in securities of the Company.

 

ARTICLE V.

MISCELLANEOUS

 

5.1 Fees and Expenses.
Each party shall pay the fees and expenses of its advisors, counsel, accountants and other experts, if any, and all other expenses
incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The Company
shall pay all Transfer Agent fees, stamp taxes and other taxes and duties levied in connection with the delivery of any Shares
to the Purchaser.

 

5.2 Entire Agreement.
The Transaction Documents, together with the exhibits and schedules hereto and thereto, contain the entire understanding of the
parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written,
with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.

 

5.3 Notices. Any
and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall
be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City
time) on a Business Day, (b) the Business Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number set forth on the signature pages attached hereto on a day that is not a Business Day or later
than 5:30 p.m. (New York City time) on any Business Day, (c) the second (2nd) business day following the date of
mailing, if sent by U.S. nationally recognized overnight courier service with confirmed instructions for next-day delivery or (d) upon
actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall
be as follows:

 

     

     

    

  

	
        For the Company:

         

        405 Lexington Avenue, 25th Floor

        New York, NY 10174

        Attention: Stephen M. Robinson

        Chief Financial Officer

         

        With a copy to (which shall not constitute
        notice):

         

        William A. Newman, Esq.

        Barton LLP

        420 Lexington Ave., 18th
        Floor

        New York, NY 10170

         
	
        For the Purchaser:

         

        Block F,

        The Terraces

        Steenburg Office Park

        Steenburg Boulevard

        Tokai

        South Africa

        Attention: _____________

 

5.4 Amendments; Waivers.
No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed, in the case
of an amendment, by the Company and the Purchaser or, in the case of a waiver, by the party against whom enforcement of any such
waived provision is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement
shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair
the exercise of any such right.

 

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

 

5.6 Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns.
The Purchaser may assign any or all of its rights under this Agreement to any Person to whom the Purchaser assigns or transfers
any Shares; provided, that such transferee agrees in writing to be bound, with respect to the transferred Shares, by the
provisions of the Transaction Documents that apply to the “Purchaser.”

 

5.7 No Third-Party
Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted
assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person.

 

     

     

    

  

5.8 Governing Law.
All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents 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. All Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated
by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors,
officers, stockholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts
sitting in the City of New York, Borough of Manhattan. 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. If either party shall commence an action,
suit or proceeding to enforce any provisions of the Transaction Documents, then the prevailing party in such action, suit or proceeding
shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or proceeding.

 

5.9 Survival.
The representations and warranties contained herein shall survive each of the Closings and the deliveries of the Shares for a period
of six (6) months.

 

5.10 Execution.
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 each other party, it being
understood that the parties need not sign the same counterpart. If 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.

 

5.11 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.

 

5.12 Replacement of
Shares. If any certificate or instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue
or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of
and substitution therefor, a new certificate or instrument, but only upon receipt of evidence reasonably satisfactory to the Company
of such loss, theft or destruction. The applicant for a new certificate or instrument under such circumstances shall also pay any
reasonable third-party costs (including customary indemnity) associated with the issuance of such replacement Shares.

 

     

     

    

  

5.13 Construction.
Each of the parties and/or their respective counsel have reviewed and had an opportunity to revise the Transaction Documents and,
therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall
not be employed in the interpretation of the Transaction Documents or any amendments thereto. In addition, each and every reference
to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock
splits, stock dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this
Agreement.

 

5.14 WAIVER OF JURY
TRIAL. IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH
KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY
AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.

 

[remainder of page intentionally
left blank]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Share Purchase Agreement to be duly executed by their respective authorized signatories as
of the date first indicated above.

 

	 	SUREPURE, INC.
	 	 
	 	By:	/s/ Stephen M. Robinson
	 	Name: Stephen M. Robinson
	 	Title: Chief Financial Officer
	 	 
	 	M CUBED HOLDINGS LIMITED
	 	 
	 	By	/s/ Quinton George
	 	Name:
	 	Title: Director

  

     

     

    

 

Schedule A 

 

REGISTRATION
RIGHTS SCHEDULE 

 

This Registration Rights
Schedule is attached to and is incorporated by reference into the Share Purchase Agreement (the “Share Purchase Agreement”),
dated as of August 10, 2015, between SurePure, Inc., a Nevada corporation, and M Cubed Holdings Limited.

 

1.          Definitions.

 

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

 

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

 

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

 

“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).

 

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

 

“Prospectus”
means the prospectus included in the 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 the 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 of the shares of Common Stock issued under the Share
Purchase Agreement and (b) any securities issued or then issuable upon any stock split, dividend or other distribution, recapitalization
or similar event with respect to the shares of Common Stock issued under the Share Purchase Agreement; provided, that any
such Registrable Securities shall cease to be Registrable Securities (and the Company shall not be required to maintain the effectiveness
of any, or file another, Registration Statement hereunder with respect thereto) for so long as (a) the Registration Statement
with respect to the sale of such Registrable Securities is declared effective by the Commission under the Securities Act and such
Registrable Securities have been disposed of by the Holder in accordance with such effective Registration Statement, (b) such
Registrable Securities have been previously sold in accordance with Rule 144, or (c) such Registrable Securities become eligible
for resale without volume or manner-of-sale restrictions and without current public information pursuant to Rule 144 as set forth
in a written opinion letter to such effect, addressed, delivered and acceptable to the Company’s transfer agent and the affected
Holders (assuming that such securities and any securities issuable upon exercise, conversion or exchange of which, or as a dividend
upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the Company), as reasonably determined
by the Company, upon the advice of counsel to the Company.

 

“Registration
Statement” means any registration statement required to be filed pursuant to Section 2(a) of this Schedule, 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.

 

“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.            Piggy-Back
Registration.

 

(a)   If,
at any time prior to the first anniversary of the Effective Date (as defined in the Share Purchase Agreement) the Company shall
determine to prepare and file with the Commission a registration statement relating to an offering for its own account or a resale
offering by any of its stockholders 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 (15) days after the date of the delivery of such notice, any such Holder shall so request in writing, the Company shall
include in the Registration Statement all or any part of such Registrable Securities such Holder requests to be registered; provided,
that the Company shall not be required to register any Registrable Securities pursuant to this Section that are (i) eligible for
resale pursuant to Rule 144 (without volume restrictions or current public information requirements) promulgated by the Commission
pursuant to the Securities Act or (ii) the subject of a then effective registration statement. The Registration Statement shall
contain substantially the “Plan of Distribution” attached hereto as Annex 1 with respect to the Registrable
Shares. Subject to the terms of this Schedule, the Company shall use its reasonable best efforts to cause the Registration Statement
filed under this Section to be declared effective under the Securities Act as promptly as reasonably practical after the filing
thereof and shall use its reasonable best efforts to keep the Registration Statement continuously effective under the Securities
Act until all Registrable Securities covered by the 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 Company’s transfer agent
and the affected Holders (the “Effectiveness Period”).

 

(b)   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 will promptly inform each of the
Holders thereof and use its commercially reasonable efforts to file amendments to the Registration Statement as required by the
Commission, covering the maximum number of Registrable Securities permitted to be registered by the Commission on another appropriate
form.

 

     

     

    

 

 

		(c)	Notwithstanding any other provision of this Schedule, if the Commission or any SEC Guidance sets
forth a limitation on the number of Registrable Securities permitted to be registered on a 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 the Registrable Securities,
the number of the Registrable Securities to be registered on the Registration Statement may be reduced by the Company it its sole
discretion without prior consultation with any Holder.

 

3.            Registration
Procedures. In connection with the Company’s registration obligations under this Schedule:

 

		(a)	Each Holder will furnish to the Company a completed questionnaire in the form attached to this
Schedule as Annex 2 (a “Selling Stockholder Questionnaire”) with four (4) business days following the
date on which such Holder receives a request for Annex 2 from the Company.

 

		(b)	(i) The Company shall prepare and file with the Commission such amendments, including post-effective
amendments, to the Registration Statement and the Prospectus used in connection therewith as may be necessary to keep the Registration
Statement continuously effective (subject to any requirement that a post-effective amendment be declared effective by the Commission)
as to the Registrable Securities for the Effectiveness Period and prepare and file with the Commission such additional Registration
Statements to register for resale under the Securities Act all of the Registrable Securities subject to any SEC Guidance that sets
forth a limitation on the number of Registrable Securities permitted to be registered on a particular Registration Statement; (ii) cause
the related Prospectus to be amended or supplemented by any required Prospectus supplement (subject to the terms of this Schedule),
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 the Registration Statement or any amendment; 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 the Registration Statement during the applicable period in accordance (subject to the
terms of this Schedule) with the intended methods of disposition by the Holders thereof set forth in the Registration Statement
as so amended or in such Prospectus as so supplemented.

 

     

     

    

 

		(c)	[reserved]

 

		(d)	The Company shall 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 (i)(A) when a Prospectus or any Prospectus supplement
or post-effective amendment to the Registration Statement is proposed to be filed (but not including (i) any Exchange Act
filing or (ii) any supplement or post-effective amendment to a registration statement that is not related to such Holder’s
Registrable Securities), (B) when the Commission notifies the Company whether there will be a “review” of the
Registration Statement and whenever the Commission comments in writing on the Registration Statement, and (C) with respect
to the 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 the 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 the 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 the Registration Statement ineligible for inclusion therein or any statement made
in the 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 the Registration Statement, Prospectus or other documents so that, in
the case of the 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 the Registration Statement or Prospectus; provided,
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.

 

     

     

    

 

		(e)	The Company shall use its reasonable best efforts to avoid the issuance of, or, if issued, obtain
the withdrawal of (i) any order stopping or suspending the effectiveness of the 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.

 

		(f)	The Company shall furnish to each Holder, without charge, at least one conformed copy of the Registration
Statement and each amendment thereto, including financial statements and schedules, all documents incorporated or deemed to be
incorporated therein by reference to the extent requested by such Person, and all exhibits to the extent requested by such Person
(including those previously furnished or incorporated by reference) promptly after the filing of such documents with the Commission;
provided, that any such item which is available on the EDGAR system (or successor thereto) need not be furnished in physical
form.

 

		(g)	Subject to the terms of this Schedule, 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(d).

 

     

     

    

 

		(h)	If requested by a Holder, the Company shall cooperate with such Holder to facilitate the timely
preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to the Registration
Statement, which certificates shall be free, to the extent permitted by this Schedule, 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.

 

		(i)	Upon the occurrence of any event contemplated by Section 3(d), 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, the Company shall prepare a supplement or amendment, including
a post-effective amendment, to the 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
the 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(d)
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 reasonable 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(i) to suspend
the availability of the Registration Statement and Prospectus for a period not to exceed 120 calendar days (which need not be consecutive
days) in any 12-month period.

 

		(j)	The Company shall comply with all applicable rules and regulations of the Commission in connection
with obtaining and maintaining the effectiveness of the Registration Statement required to be filed and maintained with the Commission
under this Schedule.

 

     

     

    

 

		(k)	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

 

4.           Registration
Expenses. All fees and expenses incident to the performance of or compliance with, the provisions of this Schedule by the Company
shall be borne by the Company whether or not any Registrable Securities are sold pursuant to the 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, (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
provisions of this Schedule. In addition, the Company shall be responsible for all of its internal expenses incurred in connection
with the consummation of the transactions contemplated by the provisions of this Schedule (including, without limitation, all salaries
and expenses of its officers and employees performing legal or accounting duties), 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 its other obligations under this Schedule, 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) 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 the 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 the provisions of this Schedule, 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 the Registration Statement, such Prospectus or in any amendment or supplement thereto (it being
understood that the Holder has approved Annex 1 hereto for this purpose) or (ii) in the case of an occurrence of an
event of the type specified in Section 3(d)(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, but only if and to the extent that following the
receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify
the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection with the provisions
of this Schedule 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.

 

     

     

    

 

(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: (x) such Holder’s
failure to comply with any applicable prospectus delivery requirements of the Securities Act through no fault of the Company or
(y) any untrue or alleged untrue statement of a material fact contained in the 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 the Registration Statement or such Prospectus or (ii) to the extent, but only to the
extent, that such information relates to 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 the Registration Statement (it being understood
that the Holder has approved Annex 1 hereto for this purpose), such Prospectus or in any amendment or supplement thereto
or (iii) in the case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), to the extent, but
only to the extent, related to 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, but only if and to the extent that following the receipt of the Advice the
misstatement or omission giving rise to such Loss would have been corrected. In no event shall the liability of any selling Holder
under this Section 5(b) be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale
of the Registrable Securities giving rise to such indemnification obligation.

 

     

     

    

 

(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 Schedule, 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, conditioned 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.

 

     

     

    

 

Subject to the terms of this
Schedule, 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 (10) business days after 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 Schedule, 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. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute pursuant
to this Section 5(d), in the aggregate, any amount in excess of the amount by which the net proceeds actually received by
such Holder from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission.

 

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

 

		6.	Miscellaneous.

 

		(a)	Remedies. If a breach by the Company or by a Holder of any of their respective obligations
under this Schedule occurs, 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 Schedule, including recovery of damages, shall be entitled to specific performance of its rights
under this Schedule.

 

		(b)	Compliance. Each Holder will comply with the prospectus delivery requirements of the Securities
Act as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant
to the Registration Statement.

 

		(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(d)(iii)
through (vi), such Holder will forthwith discontinue disposition of such Registrable Securities under the 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 reasonable best efforts to ensure that the use
of the Prospectus may be resumed as promptly as is practicable.

 

		(d)	Amendments and Waivers. The provisions of this Schedule, 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 a majority or more of the then outstanding
Registrable Securities.

 

     

     

    

 

		(e)	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 Share Purchase Agreement.

 

		(f)	No Inconsistent Agreements. If there is any inconsistency between the provisions of this
Schedule and the Share Purchase Agreement, the provisions of the Share Purchase Agreement shall prevail.

 

		(g)	Severability. If any term, provision, covenant or restriction of this Schedule 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.

 

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

 

     

     

    

 

Annex 1 

 

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 OTC Bulletin Board or any 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 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.

 

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. In no event shall any broker-dealer receive
fees, commissions and markups which, in the aggregate, would exceed eight percent (8%).

 

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.

 

Because Selling Stockholders
may be deemed to be “underwriters” within the meaning of the Securities Act, they will be subject to the prospectus
delivery requirements of the Securities Act including Rule 172 thereunder. In addition, any securities covered by this Prospectus
which qualify for sale pursuant to Rule 144 under the Securities Act may be sold under Rule 144 rather than under this Prospectus.
The Selling Stockholders have advised us that there is no underwriter or coordinating broker acting in connection with the proposed
sale of the resale securities by the Selling Stockholders.

 

     

     

    

 

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).

 

     

     

    

 

Annex 2 

 

SUREPURE, INC.

 

Selling Stockholder Notice
and Questionnaire

 

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

 

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

 

NOTICE

 

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

 

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

 

QUESTIONNAIRE

 

1. Name.

 

		(a)	Full Legal Name of Selling Stockholder:

 

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

 

     

     

    

 

		(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly
alone or with others has power to vote or dispose of the securities covered by this Questionnaire):

 

2. Address for Notices to
Selling Stockholder:

 

  

Telephone:

 

 

Fax:

 

 

Contact Person:

 

3. Broker-Dealer Status:

 

		(a)	Are you a broker-dealer?

 

Yes             No
            

 

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

 

Yes             No
            

 

     

     

    

 

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

 

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

 

Yes             No
            

 

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

 

Yes             No
            

 

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

 

     

     

    

 

4. Beneficial Ownership of
Securities of the Company Owned by the Selling Stockholder.

 

Except as set forth below
in this Item 4, the undersigned is not the beneficial or registered owner of any securities of the Company other than the
securities issuable pursuant to the Share Purchase Agreement.

 

		(a)	Type and Amount of other securities beneficially owned by the Selling Stockholder:

 

 

5. Relationships with the
Company:

 

Except as set forth below,
neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners of 5% of more of the
equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company
(or its predecessors or affiliates) during the past three years.

 

State any exceptions here:

 

 

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

 

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

 

     

     

    

 

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

 

	Date:	Beneficial Owner:
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

PLEASE FAX A COPY (OR EMAIL
A .PDF COPY) OF THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT MAIL, TO:

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