Document:

Exhibit
10.1

 

 

 

Stock
Purchase Agreement

 

BY
AND AMONG

 

Tradition
Reserve I LLC,

 

MDwerks,
Inc.

 

And

 

Ronin
Equity Partners, Inc.

 

 

 

    	 

     

    

 

Table
of Contents

 

	Article
    I. Definitions and Interpretation	1
	 	 
	 	Section
    1.01	Defined
    Terms.	1
	 	Section
    1.02	Interpretation.	7
	 	 	 	
	Article
    II. The Transactions	7
	 	
	 	Section
    2.01	The
    Purchase.	7
	 	Section
    2.02	Forgiveness
    of Debt.	8
	 	Section
    2.03	Actions
    at the Closing.	8
	 	Section
    2.04	Closing.	8
	 	Section
    2.05	Closing
    Process and Deliverables.	8
	 	Section
    2.06	Holdback
    Amount.	9
	 	Section
    2.07	Additional
    Closing Events. 	10
	 	 	 	
	Article
    III. Representations and Warranties Relating to the Company	10
	 	
	 	Section
    3.01	Organization
    and Qualification.	10
	 	Section
    3.02	Power
    and Authority.	11
	 	Section
    3.03	Authorization
    of Agreement; Etc.	11
	 	Section
    3.04	No
    Conflict.	11
	 	Section
    3.05	Capitalization.	12
	 	Section
    3.06	Liabilities.	12
	 	Section
    3.07	Statements.	12
	 	Section
    3.08	Absence
    of Certain Changes, Events and Conditions.	13
	 	Section
    3.09	Litigation
    and Proceedings.	14
	 	Section
    3.10	Compliance.	15
	 	Section
    3.11	Compliance
    with Laws; Permits.	15
	 	Section
    3.12	Taxes.	15
	 	Section
    3.13	Books
    and Records.	17
	 	Section
    3.14	Contracts.	17
	 	Section
    3.15	Bank
    Accounts; Power of Attorney.	17
	 	Section
    3.16	Disclosure.	18
	 	Section
    3.17	Intellectual
    Property.	18
	 	Section
    3.18	Environmental
    Laws.	18
	 	Section
    3.19	Title.	18
	 	Section
    3.20	Insurance.	18
	 	Section
    3.21	Transactions
    with Affiliates.	19
	 	Section
    3.22	Foreign
    Corrupt Practices.	19
	 	Section
    3.23	Money
    Laundering.	19
	 	Section
    3.24	Illegal
    or Unauthorized Payments; Political Contributions.	19
	 	Section
    3.25	Investment
    Company.	19
	 	Section
    3.26	No
    Disqualification Events.	20
	 	Section
    3.27	No
    Brokers.	20
	 	Section
    3.28	Disclosure.	20

 

    	i

     

    

 

	Article
    IV. Representations and Warranties of the Seller	20
	 	 
	 	Section
    4.01	Good
    Title.	20
	 	Section
    4.02	Existence
    and Power.	20
	 	Section
    4.03	Power
    and Authority.	20
	 	Section
    4.04	Authorization
    of Agreement; Etc.	21
	 	Section
    4.05	No
    Conflicts.	21
	 	Section
    4.06	Brokers.	21
	 	Section
    4.07	Disclosure.	21
	 	 	 	 
	Article
    V. Representations and Warranties of Buyer	21
	 	 
	 	Section
    5.01	Organization.	21
	 	Section
    5.02	Power
    and Authority.	21
	 	Section
    5.03	Authorization
    of Agreement; Etc.	21
	 	Section
    5.04	No
    Conflict.	22
	 	Section
    5.05	No
    Conflict with Other Instruments.	22
	 	Section
    5.06	No
    Brokers.	22
	 	 	 	 
	Article
    VI. Covenants and Additional Agreements	22
	 	 
	 	Section
    6.01	Public
    Announcements.	22
	 	Section
    6.02	Notices
    of Certain Events.	22
	 	Section
    6.03	Due
    Diligence.	22
	 	Section
    6.04	Limitation
    of Business Activities of the Company Prior to Closing.	23
	 	Section
    6.05	Consents
    of Third Parties.	23
	 	Section
    6.06	No-Shop.	23
	 	Section
    6.07	Additional
    Company Covenants.	24
	 	 	 	 
	Article
    VII. Conditions Precedent to the Obligations of Buyer	25
	 	
	 	Section
    7.01	Accuracy
    of Representations and Performance of Covenants.	25
	 	Section
    7.02	No
    Governmental Prohibition.	25
	 	Section
    7.03	Consents.	25
	 	Section
    7.04	Absence
    of Litigation.	25
	 	Section
    7.05	No
    Material Adverse Effect.	25
	 	Section
    7.06	SEC
    Reports.	25
	 	Section
    7.07	Liabilities.	26
	 	Section
    7.08	Schedules
    and Other Information.	26
	 	 	 	 
	Article
    VIII. Conditions Precedent to the Obligations of the Company and the Seller 	26
	 	 
	 	Section
    8.01	Accuracy
    of Representations and Performance of Covenants.	26
	 	Section
    8.02	No
    Governmental Prohibition.	26
	 	 	 	 
	Article
    IX. Termination	26
	 	 
	 	Section
    9.01	Termination.	26
	 	Section
    9.02	Effect
    of Termination.	27
	 	Section
    9.03	Effect
    of Termination.	27
	 	Section
    9.04	Default
    by Buyer.	27
	 	Section
    9.05	Default
    by Seller or the Company.	27

 

    	ii

     

    

 

	Article
    X. Survival and Indemnification	28
	 	 
	 	Section
    10.01 	Survival.	28
	 	Section
    10.02 	Indemnification
    by Seller.	28
	 	Section
    10.03 	Indemnification
    by Buyer.	28
	 	Section
    10.04 	Indemnification
    Procedures.	28
	 	Section
    10.05 	Payments.	30
	 	Section
    10.06 	Certain
    Limitations.	31
	 	Section
    10.07	Tax
    Treatment of Indemnification Payments	31
	 	Section
    10.08 	Effect
    of Investigation	31
	 	Section
    10.09 	Exclusive
    Remedy.	31
	 	Section
    10.10 	Limitation
    on Damages	32
	 	 	 	 
	Article
    XI.Miscellaneous	32
	 	 
	 	Section
    11.01 	Notices	32
	 	Section
    11.02 	Governing
    Law; Jurisdiction.	33
	 	Section
    11.03 	Waiver
    of Jury Trial.	33
	 	Section
    11.04 	Specific
    Performance.	33
	 	Section
    11.05 	Attorneys’
    Fees.	33
	 	Section
    11.06 	Confidentiality	34
	 	Section
    11.07	Public
    Announcements and Filings	34
	 	Section
    11.08 	Schedules;
    Knowledge	34
	 	Section
    11.09 	Third-Party
    Beneficiaries.	34
	 	Section
    11.10 	Expenses	34
	 	Section
    11.11	Entire
    Agreement	34
	 	Section
    11.12 	Amendment
    or Waiver.	35
	 	Section
    11.13 	Commercially
    Reasonable Efforts	35
	 	Section
    11.14	Successors
    and Assigns.	35
	 	Section
    11.15 	Counterparts.	35

 

	Exhibit
    A	Stock
    Power
	Exhibit
    B	Form
    of Debt Forgiveness and Release Agreement
	Exhibit
    C	Form
    of Escrow Agreement

 

    	iii

     

    

 

STOCK
PURCHASE AGREEMENT

 

Dated
as of July 21, 2022

 

This
Stock Purchase Agreement, (the “Agreement”) is entered into as of the date first set forth above (the “Effective Date”),
by and among (i) Tradition Reserve I LLC, a New York limited liability company (“Buyer”); (ii) MDwerks, Inc., a Delaware
corporation (the “Company”), and (iii) Ronin Equity Partners, Inc., a Texas corporation (“Seller”). Each of Buyer,
the Company and Seller may be referred to herein collectively as the “Parties” and separately as a “Party.”

 

WHEREAS,
the Seller owns certain shares of Series A Convertible Preferred Stock, par value $0.001 per share, of the Company (the “Series
A Stock”);

 

WHEREAS,
Buyer desires to acquire from Seller, and Seller desires to sell and transfer to Buyer, all of the shares of Series A Stock held by Seller,
in exchange for the payment of certain cash consideration and other consideration on the terms and subject to the conditions set forth
herein (together with the other transactions contemplated herein, the “Transactions”);

 

WHEREAS,
the Board of Directors of the Seller (the “Seller Board”) has determined that the Transactions are desirable and in the best
interests of Seller and its shareholders and the Board of Directors of the Company (“Company Board”) has determined that
the Transactions are desirable and in the best interests of the Company and its shareholders; and

 

WHEREAS,
this Agreement is being entered into for the purpose of setting forth the terms and conditions of the Transactions;

 

NOW
THEREFORE, on the stated premises and for and in consideration of the mutual covenants and agreements hereinafter set forth and the mutual
benefits to the Parties to be derived here from, and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows:

 

Article
I. DEFINITIONS AND INTERPRETATION

 

Section
1.01 Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings:

 

	 	(a)	“Acquisition
    Inquiry” means an inquiry, indication of interest or request for nonpublic information that could reasonably be expected to
    lead to an Acquisition Proposal.
	 	 	 
	 	(b)	“Acquisition
    Transaction” means any transaction or series of related transactions with a Person or “group” (as defined in the
    Exchange Act) concerning any (i) merger, consolidation, business combination, share exchange, joint venture or similar transaction
    involving the Company or Seller pursuant to which such Person or “group” would own 5% or more of the consolidated assets,
    revenues or net income of the Company, (ii) sale, lease, license or other disposition directly or indirectly by merger, consolidation,
    business combination, share exchange, joint venture or otherwise, of assets of the Company representing 5% or more of the consolidated
    assets, revenues or net income of the Company, (iii) issuance or sale or other disposition (including by way of merger,  consolidation,
    business combination, share exchange, joint venture or similar transaction) of any Equity Securities of the Company, (iv) transaction
    or series of transactions in which any Person or “group” would acquire beneficial ownership or the right to acquire beneficial
    ownership of any Equity Securities of the Company, including without limitation any shares of Common Stock or preferred stock, (v)
    action to make the provisions of any “fair price”, “moratorium”, “control share acquisition”,
    “business combination” or other similar anti-takeover statute or regulation inapplicable to any transaction, or (vi)
    any combination of any of the foregoing.

 

    	1

     

    

 

	 	(c)	“Action”
    means any claim, action, cause of action, demand, lawsuit, arbitration, inquiry, audit, notice of violation, proceeding, litigation,
    citation, summons, subpoena or investigation of any nature, civil, criminal, administrative, regulatory or otherwise, whether at
    law or in equity.
	 	 	 
	 	(d)	“Affiliate”
    of a Person means any other Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or
    is under common control with, such Person, and the term “control” (including the terms “controlled by” and
    “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction
    of the management and policies of a Person, whether through the ownership of voting securities, by Contract or otherwise.
	 	 	 
	 	(e)	“Agreement”
    has the meaning set forth in the introductory paragraph hereof.
	 	 	 
	 	(f)	“APP”
    has the meaning set forth in Section 2.02.
	 	 	 
	 	(g)	“Asia
    Cash Advances” has the meaning set forth in Section 2.02.
	 	 	 
	 	(h)	“Asia
    Note” has the meaning set forth in Section 2.02.
	 	 	 
	 	(i)	“Basket”
    has the meaning set forth in Section 10.06(a).
	 	 	 
	 	(j)	“Business
    Day” shall mean any day on which commercial banks are generally open for business in Delaware.
	 	 	 
	 	(k)	“Buyer
    Default” has the meaning set forth in Section 9.01(d).
	 	 	 
	 	(l)	“Buyer
    Indemnified Party” has the meaning set forth in Section 10.02.
	 	 	 
	 	(m)	“Buyer”
    has the meaning set forth in the introductory paragraph hereof.
	 	 	 
	 	(n)	“Cap”
    has the meaning set forth in Section 10.06(c).
	 	 	 
	 	(o)	“Closing
    Date” has the meaning set forth in Section 2.04.
	 	 	 
	 	(p)	“Closing”
    has the meaning set forth in Section 2.04.
	 	 	 
	 	(q)	“Code”
    means the Internal Revenue Code of 1986, as amended.
	 	 	 
	 	(r)	“Common
    Stock” means the common stock, par value $0.001 per share, of the Company.
	 	 	 
	 	(s)	“Company
                                            Board” has the meaning set forth in the recitals hereto.

    

 

    	2

     

    

 

	 	(t)	“Company
    Default” has the meaning set forth in Section 9.01(c).
	 	 	 
	 	(u)	“Company
    Disclosure Schedules” has the meaning set forth in the introductory paragraph to Article III.
	 	 	 
	 	(v)	“Company
    Financial Statements” has the meaning set forth in Section 3.07.
	 	 	 
	 	(w)	“Company
    Organizational Documents” has the meaning set forth in Section 3.01(b).
	 	 	 
	 	(x)	“Company
    Parties” has the meaning set forth in the introductory paragraph to Article III.
	 	 	 
	 	(y)	“Company”
    has the meaning set forth in the introductory paragraph hereof.
	 	 	 
	 	(z)	“Contracts”
    means all contracts, leases, deeds, mortgages, licenses, instruments, notes, commitments, undertakings, indentures, joint ventures
    and all other agreements, commitments and legally binding arrangements, whether written or oral.
	 	 	 
	 	(aa)	“Debt
  Forgiveness Agreement” has the meaning set forth in Section 2.02.
	 	 	 
	 	(bb)	“Derivatives”
  means any options, warrants, convertible securities or other rights, agreements, arrangements or commitments of any character relating
  to the Equity Securities of the applicable Person or obligating the applicable Person to issue or sell any of its Equity Securities.
	 	 	 
	 	(cc)	“Direct
  Claim” has the meaning set forth in Section 10.04(c).
	 	 	 
	 	(dd)	“Disqualification
  Event” has the meaning set forth in Section 3.26.
	 	 	 
	 	(ee)	“Encumbrance”
  means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security
  interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction
  on use, voting, transfer, receipt of income or exercise of any other attribute of ownership.
	 	 	 
	 	(ff)	“Enforceability
  Exceptions” means (a) applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other similar
  Laws of general application affecting enforcement of creditors’ rights generally and (b) general principles of equity.
	 	 	 
	 	(gg)	“Environmental
  Laws” has the meaning set forth in Section 3.18.
	 	 	 
	 	(hh)	“Equity
  Security” means, in respect of any Person, (a) any capital stock or similar security, (b) any security convertible into or exchangeable
  for any security described in clause (a), (c) any option, warrant, or other right to purchase or otherwise acquire any security described
  in clauses (a), (b), or (c), and, (d) any “equity security” within the meaning of the Exchange Act.
	 	 	 
	 	(ii)	“Escrow
  Account” has the meaning set forth in Section 2.06(a). (jj) “Escrow Agent” has the meaning set forth in Section 2.06(a).
	 	 	 
	 	(kk)	“Escrow
  Agreement” has the meaning set forth in Section 2.06(a).

 

    	3

     

    

 

	 	(ll)	“Exchange
  Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.
	 	 	 
	 	(mm)	“Forgiven
  Debt” has the meaning set forth in Section 2.02.
	 	 	 
	 	(nn)	“Governmental
  Authority” means any federal, state, local or foreign government or political subdivision thereof, or any agency or instrumentality
  of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or quasi-governmental
  authority (to the extent that the rules, regulations or orders of such organization or authority have the force of Law), or any arbitrator,
  court or tribunal of competent jurisdiction.
	 	 	 
	 	(oo)	“Governmental
  Authorization” means any (a) consent, license, registration, or permit issued, granted, given, or otherwise made available by
  or under the authority of any Governmental Authority or pursuant to any Law; or (b) right under any Contract with any Governmental
  Authority.
	 	 	 
	 	(pp)	“Governmental
  Order” means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental
  Authority.
	 	 	 
	 	(qq)	“Holdback
  Amount” has the meaning set forth in Section 2.06(a). (rr) “Holdback Period” has the meaning set forth in Section
  2.06(a). (ss) “Indemnified Party” has the meaning set forth in Section 10.04. (tt) “Indemnifying Party” has
  the meaning set forth in Section 10.04.
	 	 	 
	 	(uu)	“Intellectual
  Property” means trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights,
  inventions, licenses, approvals, government authorizations, trade secrets or other intellectual property rights.
	 	 	 
	 	(vv)	“Issuer
  Covered Person” has the meaning set forth in Section 3.26.
	 	 	 
	 	(ww)	“Knowledge
                                            of the Company” means the actual knowledge, after and assuming due inquiry, of Seller
                                            or any director or executive officer of the Company.
	 	 	 
	 	(xx)	“Law”
  means any statute, law, ordinance, regulation, rule, code, order, constitution, treaty, common law, judgment, decree, other requirement
  or rule of law of any Governmental Authority.
	 	 	 
	 	(yy)	“Liabilities”
  has the meaning set forth in Section 3.06. (zz) “Liens” has the meaning set forth in Section 4.01.
	 	 	 
	 	(aaa)	“Losses”
                                            means losses, damages, liabilities, deficiencies, Actions, judgments, interest, awards, penalties,
                                            fines, costs or expenses of whatever kind, including reasonable attorneys’ fees and
                                            the cost of enforcing any right to indemnification hereunder and the cost of pursuing any
                                            insurance providers; provided, however, that “Losses” shall not include (i) punitive
                                            damages, except in the case of fraud or to the extent actually awarded to a Governmental
                                            Authority or other third party or (ii) lost profits or consequential damages, in any case.

 

    	4

     

    

 

	 	(bbb)	“Material
                                            Adverse Effect” means any event, occurrence, fact, condition or change that is, or
                                            could reasonably be expected to become, individually or in the aggregate, materially adverse
                                            to (a) the business, results of operations, condition (financial or otherwise) or assets
                                            of the Company, or (b) the ability of the Company to consummate the Transactions on a timely
                                            basis; provided, however, that “Material Adverse Effect” shall not include any
                                            event, occurrence, fact, condition, or change, directly or indirectly, arising out of or
                                            attributable to: (i) any changes, conditions or effects in the United States economy or securities
                                            or financial markets in general; (ii) changes, conditions or effects that generally affect
                                            the industries in which the Company operates; (iii) any change, effect or circumstance resulting
                                            from an action required or permitted by this Agreement; or (iv) conditions caused by acts
                                            of terrorism or war (whether or not declared); provided further, however, that any event,
                                            occurrence, fact, condition, or change referred to in clauses (i), (ii) or (iv) immediately
                                            above shall be taken into account in determining whether a Material Adverse Effect has occurred
                                            to the extent that such event, occurrence, fact, condition, or change has a disproportionate
                                            effect on the Company compared to other participants in the industries in which the Company
                                            conducts its business.
	 	 	 
	 	(ccc)	“Material
                                            Contract” means (i) a Contract involving aggregate consideration in excess of $1,000
                                            and which, in each case, cannot be cancelled by any party thereto without penalty or without
                                            more than ninety (90) calendar days’ notice, except Contracts entered into in the Ordinary
                                            Course of Business; (ii) all Contracts that require a party thereto to purchase its total
                                            requirements of any product or service from a third party or that contain “take or
                                            pay” provisions; (iii) all Contracts that provide for the indemnification by a party
                                            thereto of any Person or the assumption of any Tax, environmental or other Liability of any
                                            Person; (iv) all Contracts that relate to the acquisition or disposition of any business,
                                            the stock or assets of any other Person or any real property (whether by merger, sale of
                                            stock, sale of assets or otherwise); (v) all broker, distributor, dealer, manufacturer’s
                                            representative, franchise, agency, sales promotion, market research, marketing consulting
                                            and advertising Contracts; (vi) all employment agreements and Contracts with independent
                                            contractors or consultants (or similar arrangements) and which are not cancellable without
                                            penalty or without more than thirty (30) calendar days’ notice; (vii) except for Contracts
                                            relating to trade receivables, all Contracts relating to indebtedness (including, without
                                            limitation, guarantees); (viii) all Contracts with any Governmental Authority; (ix) all Contracts
                                            that limit or purport to limit the ability of a party thereto to compete in any line of business
                                            or with any Person or in any geographic area or during any period of time; (x) any Contracts
                                            that provide for any joint venture, partnership or similar arrangement; and (xi) all collective
                                            bargaining agreements or Contracts with any union.
	 	 	 
	 	(ddd)	“Note”
                                            has the meaning set forth in Section 2.02.
	 	 	 
	 	(eee)	“Ordinary
                                            Course of Business” means an action which is taken in the ordinary course of the normal
                                            day-to-day operations of the Person taking such action consistent with the past practices
                                            of such Person, is not required to be authorized by the board of directors of such Person
                                            (or by any Person or group of Persons exercising similar authority) and is similar in nature
                                            and magnitude to actions customarily taken, without any authorization by the board of directors
                                            (or by any Person or group of Persons exercising similar authority), in the ordinary course
                                            of the normal day-to-day operations of other Persons that are in the same line of business
                                            as such Person.

 

    	5

     

    

 

	 	(fff)	“Outside
  Date” has the meaning set forth in Section 9.01(c)(iv).
	 	 	 
	 	(ggg)	“Parties”
                                            and “Party” have the meanings set forth in the introductory paragraph hereof.
	 	 	 
	 	(hhh)	“Person”
                                            means an individual, corporation, partnership, joint venture, limited liability company,
                                            Governmental Authority, unincorporated organization, trust, association or other entity.
	 	 	 
	 	(iii)	“Purchase
  Price” has the meaning set forth in Section 2.01(b).
	 	 	 
	 	(jjj)	“Representative”
  means, with respect to any Person, any and all directors, officers, employees, consultants, financial advisors, counsel, accountants
  and other agents of such Person.
	 	 	 
	 	(kkk)	“SEC
                                            Reports” means the reports and filings made by the Company with the Securities United
                                            States Securities and Exchange Commission pursuant to the Securities Act or the Exchange
                                            Act.
	 	 	 
	 	(lll)	“SEC”
  means the United States Securities and Exchange Commission.
	 	 	 
	 	(mmm)	“Securities
                                            Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
                                            thereunder.
	 	 	 
	 	(nnn)	“Selected
  Courts” has the meaning set forth in Section 11.02(b). (ooo)“Seller Board” has the meaning set forth in the recitals
  hereto.
	 	 	 
	 	(ppp)	“Seller”
  has the meaning set forth in the introductory paragraph hereof. 
	 	 	 
	 	(qqq)	“Series
  A Stock” has the meaning set forth in the recitals.
	 	 	 
	 	(rrr)	“Shares”
  has the meaning set forth in Section 2.01(a).
	 	 	 
	 	(sss)	“Stock
  Power” has the meaning set forth in Section 2.05(a)(ii).
	 	 	 
	 	(ttt)	“Tax
  Return” means any return, declaration, report, claim for refund, information return or statement or other document relating to
  Taxes, including any schedule or attachment thereto, and including any amendment thereof.
	 	 	 
	 	(uuu)	“Taxes”
                                            means all federal, state, local, foreign and other income, gross receipts, sales, use, production,
                                            ad valorem, transfer, franchise, registration, profits, license, lease, service, service
                                            use, withholding, payroll, employment, unemployment, estimated, excise, severance, environmental,
                                            stamp, occupation, premium, property (real or personal), real property gains, windfall profits,
                                            customs, duties or other taxes, fees, assessments or charges of any kind whatsoever, together
                                            with any interest, additions or penalties with respect thereto and any interest in respect
                                            of such additions or penalties.

 

    	6

     

    

 

	 	(vvv)	“Third-Party
  Claim” has the meaning set forth in Section 10.04(a).
	 	 	 
	 	(www)	“Transaction
  Documents” means this Agreement, the Stock Power, the Company Disclosure Schedules, the Debt Forgiveness Agreement, the Escrow
  Agreement and any other document, certificate or agreement to be delivered hereunder or in connection with the Transactions.
	 	 	 
	 	(xxx)	“Transactions”
  has the meaning set forth in the recitals hereto.

 

Section
1.02 Interpretation. Unless the express context otherwise requires (i) the words “hereof,” “herein,” and
“hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to
any particular provision of this Agreement; (ii) terms defined in the singular shall have a comparable meaning when used in the plural,
and vice versa; (iii) the terms “Dollars” and “$” mean United States Dollars; (iv) references herein to a specific
Section, Subsection, Recital or Exhibit shall refer, respectively, to Sections, Subsections, Recitals or Exhibits of this Agreement;
(v) wherever the word “include,” “includes,” or “including” is used in this Agreement, it shall be
deemed to be followed by the words “without limitation”; (vi) references herein to any gender shall include each other gender;
(vii) references herein to any Person shall include such Person’s heirs, executors, personal Representatives, administrators, successors
and assigns; provided, however, that nothing contained in this Section 1.02 is intended to authorize any assignment or transfer not otherwise
permitted by this Agreement; (viii) references herein to a Person in a particular capacity or capacities shall exclude such Person in
any other capacity; (ix) references herein to any Contract or agreement (including this Agreement) mean such Contract or agreement as
amended, supplemented or modified from time to time in accordance with the terms thereof; (x) with respect to the determination of any
period of time, the word “from” means “from and including” and the words “to” and “until”
each means “to but excluding”; (xi) references herein to any Law or any license mean such Law or license as amended, modified,
codified, reenacted, supplemented or superseded in whole or in part, and in effect from time to time; and (xii) references herein to
any Law shall be deemed also to refer to all rules and regulations promulgated thereunder.

 

Article
II. THE TRANSACTIONS

 

Section
2.01 The Purchase.

 

	 	(a)	On
                                            the terms and subject to the conditions set forth in this Agreement, on the Closing Date,
                                            the Seller, shall sell, assign, transfer and deliver to Buyer, free and clear of all Liens,
                                            ten million (10,000,000) shares of Series A Stock held by the Seller (the “Shares”),
                                            representing 100% of the issued and outstanding shares of Series A Stock as of the Closing.
                                            The Shares are uncertificated.
	 	 	 
	 	(b)	In
                                            exchange for the sale, assignment, transfer and delivery of the Shares to Buyer, Buyer shall
                                            pay to the Seller a total purchase price of five hundred and twenty thousand ($520,000) Dollars
                                            (the “Purchase Price”).
	 	 	 
	 	(c)	At
                                            the Closing, the Purchase Price (other than the Holdback Amount, as defined below and subject
                                            to the provisions of Section 2.06) shall be paid in cash to the Seller pursuant to wire instructions
                                            provided to Buyer at least three Business Days prior to the Closing Date.

 

    	7

     

    

 

Section
2.02 Forgiveness of Debt. The Parties acknowledge and agree that the Company is currently indebted to Asia Pacific Partners, Inc.
(“APP”), a Florida corporation and an affiliate of the Seller, in the amount of approximately $239,444, comprised of (i)
the principal amount and accrued interest pursuant to a convertible promissory note dated July 18, 2014 in the amount of

$210,000
as originally issued by the Company to Azure Associates, Inc. and purchased by APP on July 28th, 2020 (the “Asia Note”),
and (ii) various cash advances for a total of $29,444 as advanced by APP to the Company for working capital (the “Asia Cash Advances”
and, together with any and all amounts that may be due and payable pursuant to the Asia Note, the “Forgiven Debt”). As of
the Closing, the Forgiven Debt shall be forgiven and the Asia Note and any other loan agreements between the Company and APP shall be
terminated pursuant to the Debt Forgiveness and Release agreement between the Company, APP and the other parties thereto, in the form
as attached hereto as Exhibit B (the “Debt Forgiveness Agreement”).

 

Section
2.03 Actions at the Closing. At the Closing, the Parties shall undertake the following actions:

 

	 	(a)	The
                                            Company Board shall undertake such actions as required to:
	 	 	 	 
	 		(i)	Expand
                                            the Company Board to be a number of persons as determined by Buyer, and to name such persons
                                            as selected by Buyer as directors on the Company Board; and
	 	 	 	 
	 		(ii)	name
                                            such persons as selected by Buyer as officers of the Company, to the positions as determined
                                            by Buyer.
	 	 	 	 
	 	(b)	Following
                                            the actions as set forth in Section 2.03(a), all of the Directors and officers of the Company
                                            other than those named in or pursuant to Section 2.03(a) shall resign from all such positions
                                            with the Company.

 

Section
2.04 Closing. The closing of the Transactions (the “Closing”) shall occur on the third Business Day following the
satisfaction, or waiver by the Party or Parties for whose benefit the condition(s) exist, of the conditions to closing as set forth in
Article VII and Article VIII, or such other date as the Parties shall agree (such date, the “Closing Date”). As of the Effective
Date, the Parties agree that the Closing Date shall be the Effective Date.

 

Section
2.05 Closing Process and Deliverables.

 

	 	(a)	At
                                            the Closing, the Company and the Seller shall deliver to the Buyer:
	 	 	 	 
	 		(i)	a
                                            certificate of a duly authorized officer of the Company and of the Seller, dated as of the
                                            Closing Date, in form and substance satisfactory to Buyer (A) attaching and certifying copies
                                            of any resolutions of the Company Board and the Seller Board relating to this Agreement,
                                            the other Transaction Documents and the Transactions; (B) certifying the name, title and
                                            true signature of each officer of the Company and Seller executing or authorized to execute
                                            this Agreement, the Transaction Documents, and such other documents, instruments and certifications
                                            required or contemplated hereby or thereby, (C) attaching and certifying (i) a true, correct
                                            and complete copy of the Company Organizational Documents, certified by the Secretary of
                                            State of the State of Delaware, (ii) a certificate of good standing and legal existence of
                                            the Company issued by Secretary of State of the State of Delaware and dated as of a date
                                            no earlier than three Business Days prior to the Closing Date; and (iii) a certificate of
                                            good standing and legal existence of the Seller issued by Secretary of State of the State
                                            of Texas and dated as of a date no earlier than three Business Days prior to the Closing
                                            Date; and (D) certifying that the matters set forth in Section 7.01, Section 7.03, Section
                                            7.04, Section 7.05, Section 7.06 and Section 7.07 are true and correct;

 

    	8

     

    

 

	 		(ii)	the
                                            stock power in the form as attached hereto as Exhibit A (the “Stock Power”),
                                            duly executed by an authorized officer of Seller and any certificates representing the Shares;
	 	 	 	 
	 		(iii)	the
                                            Debt Forgiveness Agreement, duly executed by all of the parties thereto other than the Seller;
                                            and
	 	 	 	 
	 		(iv)	such
                                            other documents as Buyer may reasonably request for the purpose of evidencing the accuracy
                                            of any of Company’s or the Seller’s representations and warranties; evidencing
                                            the performance by the Company or the Seller of, or the compliance by the Company or the
                                            Seller with, any covenant or obligation required to be performed or complied with by the
                                            Company or the Seller; or otherwise facilitating the consummation or performance of any of
                                            the Transactions.
	 	 	 	 
	 	(b)	At
                                            the Closing, Buyer shall:
	 	 	 	 
	 		(i)	Deliver
                                            to the Seller a certificate of a duly authorized officer of the Buyer certifying that the
                                            matters set forth in Section 8.01 are true and correct;
	 	 	 	 
	 		(ii)	Subject
                                            to the provisions of Section 2.06, pay to the Seller the Purchase Price via wire transfer
                                            to an account as designated by the Seller prior to the Closing Date; and
	 	 	 	 
	 		(iii)	Shall
                                            deliver such other documents as the Company or the Seller may reasonably request for the
                                            purpose of evidencing the accuracy of any of Buyer’s representations and warranties;
                                            evidencing the performance by Buyer of, or the compliance by Buyer with, any covenant or
                                            obligation required to be performed or complied with by Buyer; or otherwise facilitating
                                            the consummation or performance of any of the Transactions.

 

Section
2.06 Holdback Amount.

 

	 	(a)	Seventy
    eight thousand dollars ($78,000) the Purchase Price (the “Holdback Amount”) shall be placed into an escrow account (the
    “Escrow Account”) with Lawrence R. Gelber, Attorney at Law (“Escrow Agent”), pursuant to an escrow agreement
    in the form as attached hereto as Exhibit 2.02 (the “Escrow Agreement”) which Holdback Amount shall be held by Escrow
    Agent as security for the obligations of the Seller to the Buyer Indemnified Parties, as applicable, pursuant to Article X or, to
    the extent not disbursed to the Buyer Indemnified Parties in accordance with the terms of this Agreement, shall be released to Seller
    as required in this Agreement and the Escrow Agreement. The Escrow Agreement shall provide that Escrow Agent shall hold the Holdback
    Amount during the period commencing on the Closing Date and ending on December 31, 2022 (the “Holdback Period”), pursuant
    to the terms of this Agreement, subject to the provisions of Section 10.05(b). At the Closing, the Holdback Amount shall be delivered
    to the Escrow Agent, the Buyer on behalf of the Seller shall pay to Escrow Agent the sum of $1,500, being 50% of the Escrow Fee (as
    defined in the Escrow Agreement) to be paid by Seller, and shall disburse the remaining portion of the Purchase Price ($440,500)
    to the Seller at the Closing.

 

    	9

     

    

 

	 	(b)	Subject
    to and in accordance with the provisions of Article X, Buyer shall have the right to receive from the Holdback Amount any Losses
    for which Buyer or any of the Buyer Indemnified Party is entitled to indemnification from the Seller pursuant to Article X, provided
    that the Parties acknowledge and agree that any in the event that the Holdback amount is not sufficient to fully satisfy any indemnification
    obligations of Seller hereunder, Seller shall remain liable for any excess as set forth herein. Upon expiration of the Holdback Period,
    the Escrow Agent shall release to Seller, in immediately available funds, an amount equal to (i) the Holdback Amount, less (ii) any
    amounts set off against the Holdback Amount pursuant to Article X, less (iii) any amounts that Escrow Agent shall continue to hold
    pursuant to Section 10.05(b).
	 	 	 
	 	(c)	The
    Parties agree to direct the Escrow Agent with respect to the holding and release of the Holdback Amount in the Escrow Account pursuant
    to, and in compliance with, the terms and conditions of this Agreement and the Escrow Agreement.

 

Section
2.07 Additional Closing Events. At and following the Closing, Buyer, the Company and the Seller shall execute, acknowledge, and
deliver (or shall ensure to be executed, acknowledged, and delivered), any and all certificates, financial statements, schedules, agreements,
resolutions, rulings or other instruments required by this Agreement to be so delivered at or prior to the Closing, together with such
other items as may be reasonably requested by the Parties hereto and their respective legal counsel in order to effectuate or evidence
Transactions.

 

Article
III. REPRESENTATIONS AND WARRANTIES RELATING TO THE COMPANY

 

As
an inducement to the consummation of the Transactions, the Company and the Seller (collectively, the “Company Parties”),
jointly and severally, represent and warrant to Buyer, except as set forth in the schedules of exceptions to the representations of the
Company Parties as delivered to the Buyer on the Effective Date (“Company Disclosure Schedules”) as follows:

 

Section
3.01 Organization and Qualification.

 

	 	(a)	The
    Company is duly organized, validly existing, and in good standing under the Laws of the State of Delaware and has the power and is
    duly authorized under all applicable Laws, regulations, ordinances and orders of public authorities, to carry on its business in
    all material respects as it is now being conducted. The Company has not qualified to do business in any State other than Delaware.
    To the Knowledge of the Company, no proceeding has been instituted in any jurisdiction revoking, limiting or curtailing or seeking
    to revoke, limit or curtail the power and authority or qualification of the Company within such jurisdiction. The Company does not
    have any subsidiaries and owns no Equity Securities of any other Person.
	 	 	 
	 	(b)	The
    Certificate of Incorporation, Bylaws and other corporate documents and agreements of the Company (collectively, the “Company
    Organizational Documents”) are set forth in Section 3.01 of the Company Disclosure Schedules. The Company has taken all actions
    required by law, the Company Organizational Documents, or otherwise to authorize the execution and delivery of this Agreement. The
    Company has full power, authority, and legal capacity to consummate the transactions herein contemplated.

 

    	10

     

    

 

Section
3.02 Power and Authority. The Company has all requisite power and authority to execute, deliver and perform its obligations under
this Agreement and to consummate Transactions.

 

Section
3.03 Authorization of Agreement; Etc. The execution, delivery and performance of this Agreement by the Company, and the consummation
of Transactions, have been duly authorized by the Company Board. This Agreement has been duly executed and delivered on behalf of the
Company. This Agreement constitutes a valid and binding obligation of the Company enforceable in accordance with its terms, except that
such enforcement may be limited by the Enforceability Exceptions, and subject to the qualification that the availability of equitable
remedies is subject to the discretion of the court before which any proceeding therefore may be brought.

 

Section
3.04 No Conflict.

 

	 	(a)	The
    execution of this Agreement and the consummation of the Transactions will not violate any provision of the Company Organizational
    Documents or contravene, conflict with, or violate any resolution adopted by the Company Board or the Seller.
	 	 	 
	 	(b)	The
    execution of this Agreement and the consummation of the Transactions will not, directly or indirectly, with or without notice or
    lapse of time or both:
	 	 	 
	 	 	(i)	result
    in the breach of any term or provision of, constitute a default under, or terminate, accelerate or modify the terms of any indenture,
    mortgage, deed of trust, or other material agreement, or instrument to which the Company is a party or to which any of its assets,
    properties or operations are subject; (iii) violate any provision of Law, statute, rule, regulation or executive order to which the
    Company is subject; or (iv) violate any judgment, order, writ or decree of any court applicable to the Company;
	 	 	 	 
	 	 	(ii)	to
    the Knowledge of the Company, contravene, conflict with, or violate, or give any Governmental Authority or other Person the right
    to challenge any of the Transactions, or to exercise any remedy or obtain any relief under, any Law or Governmental Order to which
    the Company, or any assets owned or used by the Company, could be subject;
	 	 	 	 
	 	 	(iii)	contravene,
    conflict with, violate, result in the loss of any benefit to which either the Company is entitled under, or give any Governmental
    Authority the right to revoke, suspend, cancel, terminate, or modify, any Governmental Authorization held by the Company or that
    otherwise relates to the business of, or any assets owned or used by, the Company, except to the extent that the forgoing would not
    cause a Material Adverse Effect;
	 	 	 	 
	 	 	(iv)	cause
    the Company to become subject to, or to become liable for payment of, any Tax, except to the extent that the forgoing would not cause
    a Material Adverse Effect;
	 	 	 	 
	 	 	(v)	to
    the Knowledge of the Company, cause any assets owned or used by the Company to be reassessed or revalued by any Governmental Authority;
	 	 	 	 
	 	 	(vi)	breach,
    or give any Person the right to declare a default or exercise any remedy or to obtain any additional rights under, or to accelerate
    the maturity or performance of, or payment under, or cancel, terminate, or modify, any Contract to which the Company is a party,
    except to the extent that the forgoing would not cause a Material Adverse Effect on either the Company; or
	 	 	 	 
	 	 	(vii)	result
    in the imposition or creation of any Encumbrance upon, or with respect to, any assets owned or used by the Company.

 

    	11

     

    

 

Section
3.05 Capitalization.

 

	 	(a)	The
    authorized shares of capital stock of the Company consist of (i) 200,000,000 shares of Common Stock, of which 18,010,208 shares are
    issued and outstanding; and (ii) 10,000,000 shares of preferred stock, par value $0.001 per share, of which 10,000,000 shares have
    been designated as the Series A Stock and of which all 10,000,000 are issued and outstanding and are held beneficially and of record
    by the Seller.
	 	 	 
	 	(b)	The
    Shares are duly authorized, validly issued, fully paid and non-assessable. None of the Shares or any outstanding shares of Common
    Stock were issued in violation of the preemptive or other rights of any shareholders or other Person.
	 	 	 
	 	(c)	There
    are no outstanding or authorized Derivatives, and the Company does not have outstanding or authorized any stock appreciation, phantom
    stock, profit participation or similar rights. To the Knowledge of the Company and Seller, there are no voting trusts, stockholder
    agreements, proxies or other agreements or understandings in effect with respect to the voting or transfer of any of the shares of
    Common Stock.
	 	 	 
	 	(d)	The
    Shares are, and at the Closing will be, validly issued, fully paid, and non-assessable, free and clear of all Liens imposed by the
    Company, other than restrictions on transfer provided for in the Transaction Documents and under applicable Laws.

 

Section
3.06 Liabilities. Section 3.06 of the Company Disclosure Schedules sets forth, as of the Effective Date, separately, (i) a true,
correct and complete list of all outstanding loans, lines of credit and other indebtedness incurred by the Company, inclusive of any
outstanding loans, lines of credit and other indebtedness incurred by the Company, the repayment obligations for which are secured by
any of the Company’s assets; (ii) with respect to each loan described in the foregoing clause, the remaining amounts due thereunder
as of the Effective Date and (iii) any other Liabilities of the Company. For purposes herein, “Liabilities” means any liabilities,
obligations or commitments of any nature whatsoever, asserted or unasserted, known or unknown, absolute or contingent, accrued or unaccrued,
matured or unmatured or otherwise, including without limitation any penalties, interest and/or excise tax as may be applicable.

 

Section
3.07 Statements. Section 3.07 of the Company Disclosure Schedules include complete copies of the Company’s financial statements
consisting of the audited balance sheets and profit and loss statements of the Company as at December 31, 2020 and December 31, 2021
and for any interim period thereafter, and the retained earnings, stockholders’ equity and cash flow for the same years and periods
(the “Company Financial Statements”). The Company Financial Statements are based on the books and records of the Company,
and fairly present the financial condition of the Company as of the respective dates they were prepared and the results of the operations
of the Company for the periods indicated, in all material respects.

 

    	12

     

    

 

Section
3.08 Absence of Certain Changes, Events and Conditions. Other than as set forth in the SEC Reports or as contemplated by this
Agreement or Transaction Documents, since the date of the Company Financial Statements, and other than in the Ordinary Course of Business,
there has not been, with respect to the Company, any:

 

	 	(a)	event,
    occurrence or development that has had, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
    Effect;
	 	 	 
	 	(b)	amendment
    of the Organizational Documents;
	 	 	 
	 	(c)	split,
    combination or reclassification of any shares of the capital stock of the Company;
	 	 	 
	 	(d)	issuance,
    sale or other disposition of any of the capital stock of the Company, or grant of any options, warrants or other rights to purchase
    or obtain (including upon conversion, exchange or exercise) any of the capital stock of the Company;
	 	 	 
	 	(e)	declaration
    or payment of any dividends or distributions on or in respect of any of the capital stock of the Company or redemption, purchase
    or acquisition of the capital stock the Company;
	 	 	 
	 	(f)	material
    change in any method of accounting or accounting practice of the Company, except as disclosed in the notes to the Company Financial
    Statements;
	 	 	 
	 	(g)	material
    change in the Company’s cash management practices and its policies, practices and procedures with respect to collection of
    accounts receivable, establishment of reserves for uncollectible accounts, accrual of accounts receivable, inventory control, prepayment
    of expenses, payment of trade accounts payable, accrual of other expenses, deferral of revenue and acceptance of customer deposits;
	 	 	 
	 	(h)	entry
    into any Contract that would constitute a Material Contract;
	 	 	 
	 	(i)	incurrence,
    assumption or guarantee of any material indebtedness for borrowed money except unsecured current obligations and Liabilities incurred
    in the Ordinary Course of Business;
	 	 	 
	 	(j)	transfer,
    assignment, sale or other disposition of any material amount of assets shown or reflected in the Company Financial Statements or
    cancellation of any material debts or material entitlements;
	 	 	 
	 	(k)	material
    damage, material destruction or loss (whether or not covered by insurance) to property of the Company, except for ordinary wear and
    tear;
	 	 	 
	 	(l)	any
    capital investment by the Company in, or any loan to, any other Person;
	 	 	 
	 	(m)	acceleration,
    termination, modification to or cancellation of any Material Contract to which the Company is a party or by which it is bound;
	 	 	 
	 	(n)	any
    capital expenditures by the Company in excess of $5,000;

 

    	13

     

    

 

	 	(o)	(i)
    grant of any bonuses, whether monetary or otherwise, or increase in any wages, salary, severance, pension or other compensation or
    benefits in respect of the Company’s employees, officers, directors, independent contractors or consultants, other than as
    provided for in any written agreements or required by applicable Law, (ii) change in the terms of employment for any employee or
    any termination of any employees of the Company, or (iii) action to accelerate the vesting or payment of any compensation or benefit
    for any employee, officer, director, independent contractor or consultant of the Company;
	 	 	 
	 	(p)	adoption,
    modification or termination of any: (i) employment, severance, retention or other agreement with any current or former employee,
    officer, director, independent contractor or consultant of the Company, or (ii) collective bargaining or other agreement with a union,
    in each case whether written or oral, involving the Company;
	 	 	 
	 	(q)	any
    loan to (or forgiveness of any loan to), or entry into any other transaction with, any of the Company’s stockholders, directors,
    officers and employees;
	 	 	 
	 	(r)	entry
    into a material new line of business or abandonment or discontinuance of existing material lines of business by the Company;
	 	 	 
	 	(s)	adoption
    by the Company of any plan of merger, consolidation, reorganization, liquidation or dissolution or filing of a petition in bankruptcy
    under any provisions of federal or state bankruptcy Law or consent to the filing of any bankruptcy petition against either the Company
    under any similar Law;
	 	 	 
	 	(t)	purchase,
    lease or other acquisition of the right to own, use or lease any property or assets for an amount in excess of $1,000, individually
    (in the case of a lease, per annum) or $5,000 in the aggregate (in the case of a lease, for the entire term of the lease, not including
    any option term), except for purchases of inventory or supplies in the Ordinary Course of Business, in each case by or with respect
    to the Company;
	 	 	 
	 	(u)	acquisition
    by merger or consolidation with, or by purchase of a substantial portion of the assets or stock of, or by any other manner, any business
    or any Person or any division thereof by the Company; or
	 	 	 
	 	(v)	action
    by the Company to make, change or rescind any Tax election, amend any Tax Return or take any position on any Tax Return, take any
    action, omit to take any action or enter into any other transaction that would have the effect of increasing the Tax liability or
    reducing any Tax asset of the Company following the Closing.

 

Section
3.09 Litigation and Proceedings. There are no actions, suits, proceedings, or investigations pending or, to the Knowledge of the
Company, threatened, by or against the Company or affecting the Company or its properties, at law or in equity, before any court or other
governmental agency or instrumentality, domestic or foreign, or before any arbitrator of any kind. The Company does not have any knowledge
of any material default on its part with respect to any judgment, order, injunction, decree, award, rule, or regulation of any court,
arbitrator, or governmental agency or instrumentality or of any circumstances which, after reasonable investigation, would result in
the discovery of such a default.

 

    	14

     

    

 

Section
3.10 Compliance. The Company to its knowledge is not: (i) in default under or in violation of (and no event has occurred that
has not been waived that, with notice, lapse of time or both, would result in a default by the Company under), nor has the Company received
notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement
or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been
waived); (ii) in violation of any judgment, decree or order of any court, arbitrator or other governmental authority; or (iii) or has
not been, in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all
foreign, federal, state and local Laws relating to taxes, registration as a charitable organization, and employment and labor matters,
except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.

 

Section
3.11 Compliance with Laws; Permits.

 

	 	(a)	The
    Company has complied in all material respects, and is now complying in all material respects, with all Laws applicable to the Company
    or its business, properties or assets, including being current in all of the Company’s reporting obligations under federal
    securities laws and regulations; and all prior issuances of securities have been either registered under the Securities Act, or exempt
    from registration; and the Company is not in violation or breach of, conflict with, in default under (with or without the passage
    of time or the giving of notice or both) any provisions of (i) its Organizational Documents or (ii) any mortgage, indenture, lease,
    license or any other agreement or instrument.
	 		 
	 	(b)	No
    order suspending the effectiveness of any registration statement of the Company under the Securities Act or the Exchange Act has
    been issued by the SEC and, to the Knowledge of the Company, no proceedings for that purpose have been initiated or threatened by
    the SEC.
	 	 	 
	 	(c)	The
    Company is not, and has not been, and the present officers, directors and affiliates of the Company are not and have not been, nor
    does any officer or director of the Company have any reason to believe that the Company or any of its officers, directors or Affiliates
    will be (i) the subject of, any civil or criminal proceeding or investigation by any federal or state agency alleging a violation
    of securities laws related to the Company or (ii) the subject of, any civil, criminal or administrative investigation or proceeding
    brought by any federal or state agency related to the Company.

 

Section
3.12 Taxes.

 

	 	(a)	All
    Tax Returns required to be filed on or before the Closing Date by the Company have been, or will be, timely filed. Such Tax Returns
    are, or will be, true, complete and correct in all material respects. All Taxes due and owing by the Company (whether or not shown
    on any Tax Return) have been, or will be, timely paid.
	 	 	 
	 	(b)	The
    Company has withheld and paid each Tax required to have been withheld and paid in connection with amounts paid or owing to any employee,
    independent contractor, creditor, customer, shareholder or other party, and complied with all information reporting and backup withholding
    provisions of applicable Law.
	 	 	 
	 	(c)	No
    claim has been made by any taxing authority in any jurisdiction where the Company does not file Tax Returns that it is, or may be,
    subject to Tax by that jurisdiction.
	 	 	 
	 	(d)	No
    extensions or waivers of statutes of limitations have been given or requested with respect to any Taxes of the Company.

 

    	15

     

    

 

	 	(e)	The
    amount of the Company’s Liability for unpaid Taxes for all periods ending on or before the Closing Date does not, in the aggregate,
    exceed the amount of accruals for Taxes (excluding reserves for deferred Taxes) reflected on the Company Financial Statements. The
    amount of the Company’s Liability for unpaid Taxes for all periods following the end of the recent period covered by the Company
    Financial Statements shall not, in the aggregate, exceed the amount of accruals for Taxes (excluding reserves for deferred Taxes)
    as adjusted for the passage of time in accordance with the past custom and practice of the Company (and which accruals shall not
    exceed comparable amounts incurred in similar periods in prior years).
	 	 	 
	 	(f)	All
    deficiencies asserted, or assessments made, against the Company as a result of any examinations by any taxing authority have been
    fully paid.
	 	 	 
	 	(g)	The
    Company is not a party to any Action by any taxing authority. To the Knowledge of the Company, there are no pending or threatened
    Actions by any taxing authority.
	 	 	 
	 	(h)	There
    are no Encumbrances for Taxes (other than for current Taxes not yet due and payable) upon the assets of the Company.
	 	 	 
	 	(i)	The
    Company is not a party to, or bound by, any Tax indemnity, Tax-sharing or Tax allocation agreement.
	 	 	 
	 	(j)	The
    Company is not a party to, or bound by, any closing agreement or offer in compromise with any taxing authority.
	 	 	 
	 	(k)	No
    private letter rulings, technical advice memoranda or similar agreement or rulings have been requested, entered into or issued by
    any taxing authority with respect to the Company.
	 	 	 
	 	(l)	The
    Company has not been a member of an affiliated, combined, consolidated or unitary Tax group for Tax purposes. The Company does not
    have any Liability for Taxes of any Person (other than the Company) under Treasury Regulations Section 1.1502-6 (or any corresponding
    provision of state, local or foreign Law), as transferee or successor, by contract or otherwise.
	 	 	 
	 	(m)	The
    Company has not agreed to make, nor is the Company required to make, any adjustment under Sections 481(a) or 263A of the Code or
    any comparable provision of state, local or foreign Tax Laws by reason of a change in accounting method or otherwise. The Company
    has not taken any action that could defer a Liability for Taxes of the Company from any period prior to the Closing to any period
    following the Closing.
	 	 	 
	 	(n)	The
    Company is not, nor has the Company been, a United States real property holding corporation (as defined in Section 897(c)(2) of the
    Code) during the applicable period specified in Section 897(c)(1)(a) of the Code.
	 	 	 
	 	(o)	The
    Company has not been a “distributing corporation” or a “controlled corporation” in connection with a distribution
    described in Section 355 of the Code.
	 	 	 
	 	(p)	The
    Company is not, and has not been, a party to, or a promoter of, a “reportable transaction” within the meaning of Section
    6707A(c)(1) of the Code and Treasury Regulations Section 1.6011-4(b).

 

    	16

     

    

 

	 	(q)	The
    Company has not entered into a gain recognition agreement pursuant to Treasury Regulations Section 1.367(a)-8. The Company has not
    transferred an intangible the transfer of which would be subject to the rules of Section 367(d) of the Code.

 

Section
3.13 Books and Records. The minute books and stock record books of the Company, all of which have been made available to Buyer,
are complete and correct in all material respects and have been maintained in accordance with sound business practices. The existing
minute books of the Company contain accurate and complete records of all meetings, and actions taken by written consent of, the stockholders,
the Company Board, and any committees of the Company Board in all material respects. At the Closing, all of those books and records will
be in the possession of the Company and will be delivered to Buyer.

 

Section
3.14 Contracts.

 

	 	(a)	Section
    3.14(a) of the Company Disclosure Schedules contains a list of all Contracts, agreements, franchises, license agreements, debt instruments
    or other commitments to which the Company is a party or by which it or any of its assets, products, technology, or properties are
    bound other than those incurred in the ordinary course of business. In the case of oral agreements, Section 3.14(a) of the Company
    Disclosure Schedules contains a description thereof.
	 	 	 
	 	(b)	All
    Contracts, agreements, franchises, license agreements, and other commitments to which the Company is a party or by which its properties
    are bound and which are material to the operations of the Company taken as a whole are valid and enforceable by the Company in all
    respects, except as limited by bankruptcy and insolvency Laws and by other Laws affecting the rights of creditors generally.
	 	 	 
	 	(c)	The
    Company owns, licenses or has rights to use any and all intellectual property and technology used in the Company’s business,
    and to its knowledge the Company’s use of such intellectual property or technology does not infringe upon the intellectual
    property rights of any third party; and
	 	 	 
	 	(d)	Except
    as included or described in Section 3.14(d) of the Company Disclosure Schedules, the Company is not a party to any oral or written
    (i) Contract for the employment of any officer or employee; (ii) profit sharing, bonus, deferred compensation, stock option, severance
    pay, pension benefit or retirement plan; (iii) agreement, Contract, or indenture relating to the borrowing of money; (iv) guaranty
    of any obligation; (vi) collective bargaining agreement; or (vii) agreement with any present or former officer or manager of the
    Company, which, in each case cannot be terminated by the Company on notice of no more than thirty (30) days at a cost of no more
    than $30,000.

 

Section
3.15 Bank Accounts; Power of Attorney. Section 3.15 of the Company Disclosure Schedules sets forth a true and complete list of
(i) all accounts with banks, money market mutual funds or securities or other financial institutions maintained by the Company within
the past twelve (12) months, the account numbers thereof, and all Persons authorized to sign or act on behalf of the Company; (ii) all
safe deposit boxes and other similar custodial arrangements maintained by the Company within the past twelve (12) months; (iii) the check
ledger for the last twelve (12) months, and (iv) the names of all Persons holding powers of attorney from the Company or who are otherwise
authorized to act on behalf of the Company with respect to any matter, other than its officers and managers, and a summary of the terms
of such powers or authorizations.

 

    	17

     

    

 

Section
3.16 Disclosure. The Company maintains a system of internal accounting controls appropriate for its size. There is no transaction,
arrangement, or other relationship between the Company and an unconsolidated or other off balance sheet entity that is not disclosed
by the Company in its financial statements or otherwise that would be reasonably likely to have a Material Adverse Effect.

 

Section
3.17 Intellectual Property. The Company owns or possess adequate rights or licenses to use all material trademarks, trade names,
service marks, service mark registrations, service names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental
authorizations, trade secrets and rights necessary to conduct its businesses as now conducted. None of the Company’s material Intellectual
Property has expired or terminated, or, by the terms and conditions thereof, could expire or terminate within two years from the date
of this Agreement. To the Knowledge of the Company there is no infringement by the Company of any material Intellectual Property of others,
or of any such development of similar or identical trade secrets or technical information by others, and there is no claim, action or
proceeding being made or brought against, or to the Knowledge of the Company, being threatened against, the Company regarding the infringement
of any Intellectual Property, which could reasonably be expected to have a Material Adverse Effect.

 

Section
3.18 Environmental Laws. To Knowledge of the Company, the Company (i) is in compliance with any and all applicable foreign, federal,
state and local Laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances
or wastes, pollutants or contaminants (“Environmental Laws”), (ii) has received all permits, licenses or other approvals
required of it under applicable Environmental Laws to conduct its respective businesses and (iii) is in compliance with all terms and
conditions of any such permit, license or approval, except where, in each of the three foregoing clauses, the failure to so comply could
not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect.

 

Section
3.19 Title. The Company has good and marketable title in fee simple to all real property owned by it, or leases such real property
pursuant to valid and in-force lease agreements, and has good and marketable title in all personal property owned by it that is material
to the business of the Company, in each case free and clear of all Liens and, except for Liens as do not materially affect the value
of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and Liens
for the payment of federal, state or other taxes, the payment of which is neither delinquent nor subject to penalties. Any real property
and facilities held under lease by the Company is held under valid, subsisting and enforceable leases with which the Company is in compliance
with such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings
by the Company or any Subsidiary.

 

Section
3.20 Insurance. The Company is insured by insurers of recognized financial responsibility against such losses and risks and in
such amounts as management of the Company believes to be prudent and customary in the businesses in which the Company is engaged. The
Company has not been refused any insurance coverage sought or applied for, and the Company has no reason to believe that it will not
be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers
as may be necessary to continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise,
or the earnings, business or operations of the Company, taken as a whole.

 

    	18

     

    

 

Section
3.21 Transactions with Affiliates. None of the officers or directors of the Company and, to the Knowledge of the Company, none
of the employees of the Company, is presently a party to any transaction with the Company (other than for services as employees, officers
and directors), including any Contract, agreement or other arrangement providing for the furnishing of services to or by, providing for
rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or such employee or,
to the Knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an
officer, director, trustee or partner, in each case in excess of the lesser of (i) $120,000 or (ii) one percent of the average of the
Company’s total assets at year-end for the last two completed fiscal years, other than for (i) payment of salary or consulting
fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including
stock option agreements under any stock option plan of the Company.

 

Section
3.22 Foreign Corrupt Practices. Neither the Company, nor, to the Knowledge of the Company, any agent or other Person acting on
behalf of the Company, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful
expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government officials
or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution
made by the Company (or made by any Person acting on its behalf of which the Company is aware) which is in violation of Law, or (iv)
violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended.

 

Section
3.23 Money Laundering. The Company is in compliance with, and has not previously violated, the USA PATRIOT ACT of 2001 and all
other applicable U.S. and non-U.S. anti-money laundering Laws and regulations, including, but not limited to, the Laws, regulations and
Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including, but not limited, to (i)
Executive Order 13224 of September 23, 2001 entitled, “Blocking Property and Prohibiting Transactions With Persons Who Commit,
Threaten to Commit, or Support Terrorism” (66 Fed. Reg. 49079 (2001)); and (ii) any regulations contained in 31 CFR, Subtitle B,
Chapter V.

 

Section
3.24 Illegal or Unauthorized Payments; Political Contributions. Neither the Company nor, to the Knowledge of the Company, any
of the officers, directors, employees, agents or other representatives of the Company or any other business entity or enterprise with
which the Company is or has been affiliated or associated, has, directly or indirectly, made or authorized any payment, contribution
or gift of money, property, or services, whether or not in contravention of applicable Law, (a) as a kickback or bribe to any Person
or (b) to any political organization, or the holder of or any aspirant to any elective or appointive public office except for personal
political contributions not involving the direct or indirect use of funds of the Company.

 

Section
3.25 Investment Company. The Company is not an “investment company” within the meaning of the Investment Company Act
of 1940, as amended.

 

    	19

     

    

 

Section
3.26 No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company, any beneficial owner of 20% or more of the Company’s outstanding voting equity securities,
calculated on the basis of voting power, nor any promoter (as that term is defined in Rule 405 under the Securities Act) connected with
the Company in any capacity at the time of sale (each, an “Issuer Covered Person”) is subject to any of the “Bad Actor”
disqualifications described in Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except
for a Disqualification Event covered by Rule 506(d)(2) or (d)(3) under the Securities Act. The Company has exercised reasonable care
to determine whether any Issuer Covered Person is subject to a Disqualification Event.

 

Section
3.27 No Brokers. The Company has not retained any broker or finder in connection with any of the Transactions, and has not incurred
or agreed to pay, or taken any other action that would entitle any Person to receive, any brokerage fee, finder’s fee or other
similar fee or commission with respect to any of the Transactions.

 

Section
3.28 Disclosure. All disclosure provided to Buyer regarding the Company, its business and Transactions, including the Company
Disclosure Schedules, furnished by or on behalf of the Company with respect to the representations and warranties made herein are true
and correct with respect to such representations and warranties and do not contain any untrue statement of a material fact or omit to
state any material fact necessary in order to make the statements made therein, in light of the circumstances under which they were made,
not misleading. The Company acknowledges and agrees that Buyer has not made, nor is Buyer making, any representations or warranties with
respect to Transactions other than those specifically set forth herein.

 

Article
IV. REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

The
Seller hereby represents and warrants to Buyer, as follows.

 

Section
4.01 Good Title. Seller is the record and beneficial owner, and has good title to the Shares, with the right and authority to
sell and deliver such Shares, free and clear of all liens, claims, charges, Encumbrances, pledges, mortgages, security interests, options,
rights to acquire, proxies, voting trusts or similar agreements, restrictions on transfer or adverse claims of any nature whatsoever
(collectively, “Liens”). None of the Shares is subject to pre-emptive or similar rights, either pursuant to any Company Organizational
Document, requirement of Law or any Contract, and Seller does not have any pre-emptive rights or similar rights to purchase or receive
shares of Common Stock or other interests in the Company. Seller has the power and authority to transfer the Shares to the Buyer as contemplated
pursuant to the terms of this Agreement and upon delivery of any certificate or certificates duly assigned, representing the same as
herein contemplated and/or upon registering Buyer or its designee as the new owner of the Shares in the records maintained by the Company,
Buyer or its designee will receive good title to such Shares, free and clear of all Liens.

 

Section
4.02 Existence and Power. Seller is a corporation, duly formed and in good standing in the State of Texas, and has the full power
and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry on its business
in all material respects as it is now being conducted and to enter into this Agreement and fulfill its obligations herein.

 

Section
4.03 Power and Authority. Seller has all requisite power and authority to execute, deliver and perform its obligations under this
Agreement and to consummate Transactions.

 

    	20

     

    

 

Section
4.04 Authorization of Agreement; Etc. The execution, delivery and performance of this Agreement by Seller, and the consummation
of Transactions, have been duly authorized by the Seller Board and all additional applicable Persons with respect to the Seller. This
Agreement has been duly executed and delivered on behalf of Seller. This Agreement constitutes a valid and binding obligation of Seller
enforceable in accordance with its terms, except that such enforcement may be limited by the Enforceability Exceptions, and subject to
the qualification that the availability of equitable remedies is subject to the discretion of the court before which any proceeding therefore
may be brought.

 

Section
4.05 No Conflicts. The execution and delivery of this Agreement by the Seller and the performance by the Seller of its obligations
hereunder in accordance with the terms hereof (i) will not require the consent of any third party or governmental entity under any applicable
Laws; (ii) will not violate any Laws applicable to the Seller and (iii) will not violate or breach any Contractual obligation to which
the Seller is a party, or any of Seller’s organizational documents.

 

Section
4.06 Brokers. Seller has not retained any broker or finder in connection with any of the Transactions, and Seller has not incurred
or agreed to pay, or taken any other action that would entitle any Person to receive, any brokerage fee, finder’s fee or other
similar fee or commission with respect to any of the Transactions.

 

Section
4.07 Disclosure. All disclosure provided to Buyer regarding Seller and Transactions is true and correct with respect to such representations
and warranties and do not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make
the statements made therein, in light of the circumstances under which they were made, not misleading. Seller acknowledges and agrees
that Buyer has not made, nor is Buyer making, any representations or warranties with respect to Transactions other than those specifically
set forth herein.

 

Article
V. REPRESENTATIONS AND WARRANTIES OF BUYER

 

As
an inducement to, and to obtain the reliance of the Company and the Seller, Buyer represents and warrants to the Company and the Seller,
as follows:

 

Section
5.01 Organization. Buyer limited liability company, duly organized and in good standing under the laws of the State of New York
and has the power and is duly authorized under all applicable Laws, regulations, ordinances, and orders of public authorities to carry
on its business in all material respects as it is now being conducted. Buyer has taken all action required by Law or otherwise to authorize
the execution and delivery of this Agreement, and to consummate the Transactions. Buyer is an “accredited investor” as defined
in Rule 501 pursuant to Regulation D promulgated under the Securities Act.

 

Section
5.02 Power and Authority. Buyer has all requisite power and authority to execute, deliver and perform its obligations under this
Agreement and to consummate the Transactions.

 

Section
5.03 Authorization of Agreement; Etc. This Agreement has been duly executed and delivered on behalf of Buyer. This Agreement constitutes
a valid and binding obligation of Buyer enforceable in accordance with its terms, except that such enforcement may be limited by the
Enforceability Exceptions, and subject to the qualification that the availability of equitable remedies is subject to the discretion
of the court before which any proceeding therefore may be brought.

 

    	21

     

    

 

Section
5.04 No Conflict. The execution of this Agreement and the consummation of the Transactions (i) will not, with or without notice,
lapse of time or both, result in the breach of any term or provision of, constitute a default under, or terminate, accelerate or modify
the terms of any indenture, mortgage, deed of trust, or other material agreement, or instrument to which the Buyer is a party or to which
any of its assets, properties or operations are subject; (ii) violate any provision of Law, statute, rule, regulation or executive order
to which the Buyer is subject; or (iv) violate any judgment, order, writ or decree of any court applicable to the Buyer.

 

Section
5.05 No Conflict with Other Instruments. The execution of this Agreement and the consummation of the Transactions will not result
in the breach of any term or provision of, constitute a default under, or terminate, accelerate or modify the terms of, any indenture,
mortgage, deed of trust, or other material agreement or instrument to which Buyer is a party or to which any of his assets, properties
or operations are subject.

 

Section
5.06 No Brokers. Buyer has not retained any broker or finder in connection with any of the Transactions, and Buyer has not incurred
or agreed to pay, or taken any other action that would entitle any Person to receive, any brokerage fee, finder’s fee or other
similar fee or commission with respect to any of the Transactions.

 

Article
VI. COVENANTS AND ADDITIONAL AGREEMENTS

 

Section
6.01 Public Announcements. Except as required by applicable Law, prior to the Closing the Parties shall consult with each other
before issuing any press release or making any public statement with respect to this Agreement or Transactions.

 

Section
6.02 Notices of Certain Events. In addition to any other notice required to be given by the terms of this Agreement, each of the
Parties shall promptly notify each of the other Parties of:

 

	 	(a)	any
    notice or other communication from any Person alleging that the consent of such Person is or may be required in connection with any
    of the Transactions;
	 	 	 
	 	(b)	any
    notice or other communication from any governmental or regulatory agency or authority in connection with the Transactions; and
	 	 	 
	 	(c)	any
    actions, suits, claims, investigations or proceedings commenced or, to its knowledge threatened against, relating to or involving
    or otherwise affecting such Party that, if pending on the date of this Agreement, would have been required to have been disclosed
    pursuant hereto or that relates to the consummation of the Transactions.

 

Section
6.03 Due Diligence.

 

	 	(a)	Following
    the Effective Date, until consummation of the Transactions or the earlier termination of this Agreement, the Company and Seller shall
    give to Buyer and its authorized representatives full and complete access to the books and records, Contracts, facilities and personnel
    of the Company as Buyer and its authorized representatives may request so that Buyer may complete its due diligence investigation
    of the Company and the Shares. The Seller agrees to provide Buyer and its authorized representatives with access to any information
    within Seller’s or the Company’s possession or within Seller’s or the Company’s control that contains information
    generated by Seller or the Company regarding the Company relative to its financial, operational, and/or regulatory condition (present,
    past, or prospective). The Company and the Seller will also permit Buyer to interview the directors and officers of the Company in
    connection with Buyer’s due diligence review of the Company.

 

    	22

     

    

 

	 	(b)	In
    the event that Buyer’s due diligence review of the Company and the Shares is not satisfactory to Buyer in its sole discretion,
    at any time prior to the Closing, Buyer may terminate this Agreement upon notice to the Company and the Seller.

 

Section
6.04 Limitation of Business Activities of the Company Prior to Closing. Prior to the Closing, except for Transactions, the Company
will not, without the prior written consent of Buyer,

(i)
make any material change in the type or nature of its business, or in the nature of its operations,

(ii)
create or suffer to exist any debt, other than that currently in existence or undertaken to complete projects ongoing or to meet short
term working capital needs, or (iii) enter into any new agreements of any kind or undertake any new obligations or liabilities likely
to have a material impact on its business.

 

Section
6.05 Consents of Third Parties. Each of the Parties will give any notices to third parties, and will use its commercially reasonable
efforts to obtain any third-party consents, that the other Parties reasonably may request in connection with this Agreement. Each of
the Parties will give any notices to, make any filings with, and use its commercially reasonable efforts to obtain any authorizations,
consents, and approvals of governments and governmental agencies in connection with the matters in this Agreement.

 

Section
6.06 No-Shop.

 

	 	(a)	From
    the Effective Date until the first to occur of the Closing or the termination of this Agreement in accordance with its terms, none
    of the Company or Seller shall, and each of the Company and Seller shall cause the Representatives of the Company and the Seller
    not to, directly or indirectly:
	 	 	 	 
	 	 	(i)	solicit,
    initiate, knowingly encourage or knowingly facilitate the making, submission or announcement of any Acquisition Proposal or Acquisition
    Inquiry;
	 	 	 	 
	 	 	(ii)	furnish
    any non-public information regarding the Company to any Person who has made an Acquisition Proposal or an Acquisition Inquiry;
	 	 	 	 
	 	 	(iii)	engage
    in discussions or negotiations with any Person who has made any Acquisition Proposal or Acquisition Inquiry;
	 	 	 	 
	 	 	(iv)	approve,
    endorse or recommend any Acquisition Proposal or Acquisition Inquiry;
	 	 	 	 
	 	 	(v)	withdraw
    or propose to withdraw its approval and recommendation in favor of this Agreement and the Transactions; or
	 	 	 	 
	 	 	(vi)	enter
    into any letter of intent, agreement in principle, merger, acquisition, purchase or joint venture agreement or other similar agreement
    for any Acquisition Transaction.

 

    	23

     

    

 

	 	(b)	From
    the Effective Date until the first to occur of the Closing or the termination of this Agreement in accordance with its terms, the
    Company Board shall not (i) approve or recommend, or propose publicly to approve or recommend, any Acquisition Proposal relating
    to the Company, (ii) take any action to make the provisions of any “fair price”, “moratorium”, “control
    share acquisition”, “business combination” or other similar anti-takeover statute or regulation inapplicable to
    any transaction contemplated by an Acquisition Proposal related to the Company, or (iii) approve or recommend, or propose publicly
    to approve or recommend, or cause or authorize the Company to enter into, any letter of intent, agreement in principle, merger, acquisition,
    purchase or joint venture agreement or Contract or other instrument in respect of or relating to an Acquisition Proposal.
	 	 	 
	 	(c)	The
    Company shall promptly, within 36 hours, advise Buyer orally and in writing of any Acquisition Proposal or Acquisition Inquiry (including
    the identity of the Person making or submitting such Acquisition Proposal or Acquisition Inquiry and the terms thereof and all material
    modifications thereto) that is made or submitted by any Person during the period beginning on the Effective Date until the Closing
    or the termination of this Agreement in accordance with its terms. The Company shall keep Buyer reasonably informed on a current
    basis of any material developments in the status and terms of any such Acquisition Proposal or Acquisition Inquiry (including whether
    such Acquisition Proposal or Acquisition Inquiry has been withdrawn or rejected and any material change to the terms thereof).
	 	 	 
	 	(d)	The
    Company and the Seller shall immediately cease and cause to be terminated any discussions existing as of the Effective Date with
    any Person that relate to any Acquisition Proposal or Acquisition Inquiry proposed on or prior to the Effective Date. The Company
    acknowledges and agrees that any actions taken by or at the direction of a Representative of the Company or Seller that, if taken
    by the Company or Seller, would constitute a breach or violation of this Section 6.06 and will be deemed to constitute a breach and
    violation of this Section 6.06 by the Company and the Seller.

 

Section
6.07 Additional Company Covenants.

 

	 	(a)	Except
    as otherwise contemplated herein, between the Effective Date and the Closing, the Company and the Seller will not (i) materially
    amend the Organizational Documents; (ii) declare or make, or agree to declare or make, any payment of dividends or distributions
    of any assets of any kind whatsoever to any shareholders of the Company or purchase or redeem, or agree to purchase or redeem, any
    shares of Common Stock or preferred stock of the Company; (iii) make any material change in its method of management, operation or
    accounting; (iv) enter into any other material transaction other than sales in the ordinary course of its business; or (v) make any
    increase in or adoption of any profit sharing, bonus, deferred compensation, insurance, pension, retirement, or other employee benefit
    plan, payment, or arrangement made to, for, or with its officers, directors, or employees.
	 	 	 
	 	(b)	Between
    the Effective Date and the Closing, the Company will not (i) grant or agree to grant any options, warrants or other rights to purchase,
    subscribe for, or otherwise acquire shares of Common Stock or preferred stock of the Company, or other securities convertible into,
    exchangeable for, or otherwise giving the holder thereof the right to acquire, shares of Common Stock or preferred stock of the Company;
    (ii) borrow or agree to borrow any funds or incur, or become subject to, any material obligation or liability (absolute or contingent)
    except as disclosed herein and except liabilities incurred in the ordinary course of business; (iii) sell or transfer, or agree to
    sell or transfer, any of its assets, properties, or rights or cancel, or agree to cancel, any debts or claims; or (iv) issue, deliver,
    or agree to issue or deliver any Equity Securities of the Company, including debentures or other debt obligations, except in connection
    with this Agreement.

 

    	24

     

    

 

Article
VII. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF BUYER

 

The
obligations of Buyer to consummate the Closing are subject to the satisfaction, or waiver by Buyer in its sole discretion, as of and
on the Closing Date, of the following conditions:

 

Section
7.01 Accuracy of Representations and Performance of Covenants.

 

	 	(a)	Each
    of the representations and warranties made by the Company shall be true and correct in all material respects, other than representations
    and warranties which are qualified by materiality and the representations and warranties as set forth in Section 3.05, each of which
    shall be true and correct in all respects, in each case, as of the Closing Date as if made on such date, and the Company shall have
    performed or complied in all material respects with all covenants and conditions required by this Agreement to be performed or complied
    with by it prior to or at the Closing.
	 	 	 
	 	(b)	Each
    of the representations and warranties made by the Seller shall be true and correct in all material respects, other than representations
    and warranties which are qualified by materiality and the representations and warranties as set forth in Section 4.01 which shall
    be true and correct in all respects, in each case as of the Closing Date as if made on such date, and the Seller shall have performed
    or complied in all material respects with all covenants and conditions required by this Agreement to be performed or complied with
    by it prior to or at the Closing.

 

Section
7.02 No Governmental Prohibition. No order, statute, rule, regulation, executive order, injunction, stay, decree, judgment or
restraining order shall have been enacted, entered, promulgated or enforced by any court or governmental or regulatory authority or instrumentality
that prohibits the consummation of Transactions, and Buyer shall have obtained the approval of any governmental authorities as required
in order to consummate the Transactions.

 

Section
7.03 Consents. All consents, approvals, waivers or amendments pursuant to all Contracts, licenses, permits, trademarks and other
intangibles in connection with the Transactions, or required for the Closing to occur, or for the continued operation of the Company
after the Closing Date on the basis as presently operated, shall have been obtained.

 

Section
7.04 Absence of Litigation. There shall be no actions, suits, proceedings or governmental investigations or inquiries pending
or, to any Party’s knowledge, threatened against Buyer, the Company and/or the Seller which would prevent the consummation of the
Transactions.

 

Section
7.05 No Material Adverse Effect. Between the Effective Date and the Closing Date, there shall not have been any Material Adverse
Effect.

 

Section
7.06 SEC Reports. The Company shall be current and up-to-date with all reporting and filing obligations with the SEC pursuant
to the Securities Act and the Exchange Act and with its reporting obligations to the OTC Markets.

 

    	25

     

    

 

Section
7.07 Liabilities. As of the Closing Date, the Company shall have no Liabilities, in excess of $1,000, whether absolute, accrued,
contingent, known or unknown or otherwise, except Liabilities incurred in the ordinary course of business not in excess of $5,000.

 

Section
7.08 Schedules and Other Information. The Company shall have delivered to Buyer the financial statements of the Company and other
books and records reasonably requested in connection with Buyer’s due diligence investigation of the Company, and there shall have
been no disclosure in any financial statements or any schedule delivered after the Effective Date or in any disclosure provided in connection
with such due diligence investigation, which in the sole discretion and determination of Buyer differs materially from the information
it has received as of the Effective Date and which does or may have a materially adverse effect on the value of the business of the Company
or on its assets, properties or goodwill.

 

Article
VIII. CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE COMPANY AND THE SELLER

 

The
obligations of the Company and the Seller to consummate the Closing are subject to the satisfaction, or waiver by the Company and the
Seller, each in their sole discretion, as of and on the Closing Date, of the following conditions:

 

Section
8.01 Accuracy of Representations and Performance of Covenants. Each of the representations and warranties made by Buyer shall
be true and correct in all material respects as of the Closing Date as if made on such date and Buyer shall have performed or complied
in all material respects with all covenants and conditions required by this Agreement to be performed or complied with by it prior to
or at the Closing.

 

Section
8.02 No Governmental Prohibition. No order, statute, rule, regulation, executive order, injunction, stay, decree, judgment or
restraining order shall have been enacted, entered, promulgated or enforced by any court or governmental or regulatory authority or instrumentality
which prohibits the consummation of Transactions.

 

Article
IX. TERMINATION

 

Section
9.01 Termination. This Agreement may be terminated at any time before the Closing Date as follows:

 

	 	(a)	by
    mutual written consent of the Company, Buyer and the Seller;
	 	 	 
	 	(b)	by
    any of the Seller, the Company or Buyer if there shall be in effect a final non-appealable order, judgment, injunction or decree
    entered by or with any governmental authority restraining, enjoining or otherwise prohibiting the consummation of the Transactions;

 

    	26

     

    

 

		(c)	by
                                            Buyer:

 

		(i)	If
                                            there shall have been a breach in any material respect of any representation, warranty, covenant
                                            or agreement on the part of the Company or the Seller set forth in this Agreement and such
                                            breach has not been cured within ten (10) days after receipt of notice of such breach by
                                            Company and the Seller (a “Company Default”); or

 

		(ii)	if
                                            there shall have occurred a Material Adverse Effect prior the Closing Date;

 

		(iii)	pursuant
                                            to the provisions of Section 6.03(b); or

 

		(iv)	if
                                            the Closing has not occurred on or before July 25, 2022 (the “Outside Date”),
                                            provided, however, that if the Closing has not occurred by the Outside Date due to a Buyer
                                            Default having occurred, Buyer shall not have the right to terminate this Agreement pursuant
                                            to this Section 9.01(c)(iv);

 

		(d)	by
                                            the Seller and the Company, acting jointly:

 

		(i)	if
                                            there shall have been a breach in any material respect of any representation, warranty, covenant
                                            or agreement on the part of Buyer set forth in this Agreement and such breach has not been
                                            cured within ten (10) days after receipt of notice of such breach by Buyer (an “Buyer
                                            Default”); or

 

		(ii)	if
                                            the Closing has not occurred on or before the Outside Date, provided, however, that if the
                                            Closing has not occurred by such date due to a Company Default having occurred, the Seller
                                            and the Company shall not have the right to terminate this Agreement pursuant to this Section
                                            9.01(d)(ii).

 

Section
9.02 Effect of Termination. In the event of termination of this Agreement pursuant to this Article IX, this Agreement (other than
this Article IX, Article X and Article XI) shall become void and of no further force or effect with no liability on the part of any Party;
provided, however, that nothing shall relieve any Party from liability for actual damages to the other Parties resulting from a breach
of this Agreement by such Party prior to any such termination other than as specifically set forth herein.

 

Section
9.03 Effect of Termination. In the event of termination of this Agreement pursuant to this Article IX, this Agreement (other than
this Article IX, Article X and Article XI) shall become void and of no further force or effect with no liability on the part of any Party;
provided, however, that any such termination shall not relieve any Party from liability for actual damages to the other Parties resulting
from a material breach of this Agreement by such Party.

 

Section
9.04 Default by Buyer. If Buyer fails to perform any of its obligations under this Agreement, the Company and the Seller shall
be entitled to bring an action for specific performance, damages or a combination of specific performance and damages. Other than as
specifically set forth herein, no remedy conferred upon the Company and the Seller is intended to be exclusive of any other remedy provided
for in this Agreement, and each remedy provided to the Company and the Seller in this Agreement will be cumulative and in addition to
every other remedy available to the Company and the Seller under this Agreement and no single or partial exercise of any remedy will
preclude any other or further exercise thereof. This provision shall be in addition to the Company and the Seller remedies under Section
10.03.

 

Section
9.05 Default by Seller or the Company. If the Seller or the Company fails to perform any of their respective obligations under
this Agreement, Buyer shall be entitled to bring an action for specific performance, damages or a combination of specific performance
and damages. Other than as specifically set forth herein, no remedy conferred upon Buyer is intended to be exclusive of any other remedy
provided for in this Agreement, and each remedy provided to Buyer in this Agreement will be cumulative and in addition to every other
remedy available to Buyer under this Agreement and no single or partial exercise of any remedy will preclude any other or further exercise
thereof. This provision shall be in addition to Buyer’s remedies under Section 10.02.

 

    	27

     

    

 

Article
X. SURVIVAL AND INDEMNIFICATION

 

Section
10.01 Survival.

 

		(a)	Subject
                                            to the limitations and other provisions of this Agreement, the representations and warranties
                                            of the Parties contained herein shall survive the Closing and shall remain in full force
                                            and effect until the date that is one (1) year after the Closing Date. Notwithstanding the
                                            preceding sentence, any indemnification claim commenced prior to any such expiration shall
                                            remain as a valid claim until finally resolved in accordance with the provisions herein.
                                            Any claim, for indemnification or otherwise, based upon or arising out of the breach or alleged
                                            breach of a representation or warranty must be brought before the expiration of the applicable
                                            survival period, or it will be deemed waived.

 

		(b)	All
                                            covenants and agreements of the Parties contained herein shall survive the Closing for a
                                            period of one (1) year or for the period specified therein. Notwithstanding the preceding
                                            sentence, any claim commenced prior to any such expiration shall remain as a valid claim
                                            until finally resolved in accordance with the provisions herein.

 

		(c)	Any
                                            claim arising out of or in connection with this Agreement must be brought, if at all, within
                                            five years after the Closing Date, or within such shorter period as may be specified with
                                            respect to a particular claim, or it will be deemed waived and released.

 

Section
10.02 Indemnification by Seller. Subject to the provisions of this Article X, if the Closing occurs, the Seller hereby covenants
and agrees with Buyer that the Seller shall indemnify Buyer and its directors, officers, employees and Affiliates, and each of their
respective Representatives, successors and assigns (individually, an “Buyer Indemnified Party”), and hold them harmless from,
against and in respect of any and all Losses incurred by any Buyer Indemnified Party resulting from any misrepresentation, breach of
any representation or warranty of the Company or the Seller in this Agreement or the non-fulfillment in any material respect of any agreement,
covenant or obligation by the Company or the Seller made in this Agreement (including without limitation any Exhibit or Schedule hereto
and any certificate or instrument delivered in connection herewith).

 

Section
10.03 Indemnification by Buyer. Subject to the provisions of this Article X, if the Closing occurs, Buyer hereby covenants and
agrees with the Seller that Buyer shall indemnify the Seller and hold Seller harmless from, against and in respect of any and all Losses
incurred by the Seller resulting from any misrepresentation, breach of any representation or warranty in this Agreement or the non-fulfillment
in any material respect of any agreement, covenant or obligation by Buyer made in this Agreement (including without limitation any Exhibit
or Schedule hereto and any certificate or instrument delivered in connection herewith).

 

Section
10.04 Indemnification Procedures. The Party making a claim under this Article X is referred to as the “Indemnified Party”
and the Party against whom such claims are asserted under this Article X is referred to as the “Indemnifying Party.”

 

    	28

     

    

 

		(a)	Third-Party
                                            Claims. If any Indemnified Party receives notice of the assertion or commencement of
                                            any Action made or brought by any Person who is not a party to this Agreement or an Affiliate
                                            of a party to this Agreement or a Representative of the foregoing (a “Third-Party Claim”)
                                            against such Indemnified Party with respect to which the Indemnifying Party is obligated
                                            to provide indemnification under this Agreement, the Indemnified Party shall give the Indemnifying
                                            Party reasonably prompt written notice thereof, but in any event not later than thirty (30)
                                            calendar days after receipt of such notice of such Third-Party Claim. The failure to give
                                            such prompt written notice shall not, however, relieve the Indemnifying Party of its indemnification
                                            obligations, except and only to the extent that the Indemnifying Party forfeits rights or
                                            defenses by reason of such failure. Such notice by the Indemnified Party shall describe the
                                            Third-Party Claim in reasonable detail, shall include copies of all material written evidence
                                            thereof and shall indicate the estimated amount, if reasonably practicable, of the Loss that
                                            has been or may be sustained by the Indemnified Party. The Indemnifying Party shall have
                                            the right to participate in, or by giving written notice to the Indemnified Party, to assume
                                            the defense of any Third-Party Claim at the Indemnifying Party’s expense and by the
                                            Indemnifying Party’s own counsel, and the Indemnified Party shall cooperate in good
                                            faith in such defense. In the event that the Indemnifying Party assumes the defense of any
                                            Third-Party Claim, subject to Section 10.04(b), it shall have the right to take such action
                                            as it deems necessary to avoid, dispute, defend, appeal or make counterclaims pertaining
                                            to any such Third-Party Claim in the name and on behalf of the Indemnified Party. The Indemnified
                                            Party shall have the right to participate in the defense of any Third-Party Claim with counsel
                                            selected by it subject to the Indemnifying Party’s right to control the defense thereof,
                                            provided that the fees and disbursements of such counsel shall be at the expense of the Indemnified
                                            Party.

 

		(b)	Settlement
                                            of Third-Party Claims. Notwithstanding any other provision of this Agreement, the Indemnifying
                                            Party shall not enter into settlement of any Third-Party Claim without the prior written
                                            consent of the Indemnified Party, except as provided in this Section 10.04(b). If a firm
                                            offer is made to settle a Third-Party Claim without leading to liability or the creation
                                            of a financial or other obligation on the part of the Indemnified Party and provides, in
                                            customary form, for the unconditional release of each Indemnified Party from all liabilities
                                            and obligations in connection with such Third-Party Claim and the Indemnifying Party desires
                                            to accept and agree to such offer, the Indemnifying Party shall give written notice to that
                                            effect to the Indemnified Party. If the Indemnified Party objects to such offer, or does
                                            not provide a response to such firm offer within ten days after its receipt of such notice
                                            (in which case the Indemnified Party shall be deemed to not have consented to such offer),
                                            the Indemnified Party shall thereafter assume the defense of such Third-Party Claim and shall
                                            continue to contest or defend such Third-Party Claim and in such event the maximum liability
                                            of the Indemnifying Party as to such Third-Party Claim shall not exceed the amount of such
                                            settlement offer. If the Indemnified Party consents to such firm offer the Indemnifying Party
                                            may settle the Third-Party Claim upon the terms set forth in such firm offer to settle such
                                            Third-Party Claim. If the Indemnified Party has assumed the defense pursuant to this Section
                                            10.04(a), it shall not agree to any settlement without the written consent of the Indemnifying
                                            Party (which consent shall not be unreasonably withheld or delayed).

 

    	29

     

    

 

		(c)	Direct
                                            Claims. Any Action by an Indemnified Party on account of a Loss which does not result
                                            from a Third-Party Claim (a “Direct Claim”) shall be asserted by the Indemnified
                                            Party giving the Indemnifying Party reasonably prompt written notice thereof, but in any
                                            event not later than thirty (30) calendar days after the Indemnified Party becomes aware
                                            of such Direct Claim. The failure to give such prompt written notice shall not, however,
                                            relieve the Indemnifying Party of its indemnification obligations, except and only to the
                                            extent that the Indemnifying Party forfeits rights or defenses by reason of such failure.
                                            Such notice by the Indemnified Party shall describe the Direct Claim in reasonable detail,
                                            shall include copies of all material written evidence thereof and shall indicate the estimated
                                            amount, if reasonably practicable, of the Loss that has been or may be sustained by the Indemnified
                                            Party. The Indemnifying Party shall have thirty (30) calendar days after its receipt of such
                                            notice to respond in writing to such Direct Claim. The Indemnified Party shall allow the
                                            Indemnifying Party and its professional advisors to investigate the matter or circumstance
                                            alleged to give rise to the Direct Claim, and whether and to what extent any amount is payable
                                            in respect of the Direct Claim and the Indemnified Party shall assist the Indemnifying Party’s
                                            investigation by giving such information and assistance as the Indemnifying Party or any
                                            of its professional advisors may reasonably request. If the Indemnifying Party does not so
                                            respond within such thirty (30) calendar day period, the Indemnifying Party shall be deemed
                                            to have rejected such claim, in which case the Indemnified Party shall be free to pursue
                                            such remedies as may be available to the Indemnified Party on the terms and subject to the
                                            provisions of this Agreement.

 

		(d)	Cooperation.
                                            Upon a reasonable request made by the Indemnifying Party, each Indemnified Party seeking
                                            indemnification hereunder in respect of any Direct Claim, hereby agrees to consult with the
                                            Indemnifying Party and act reasonably to take actions reasonably requested by the Indemnifying
                                            Party in order to attempt to reduce the amount of Losses in respect of such Direct Claim.
                                            Any costs or expenses associated with taking such actions shall be included as Losses hereunder.

 

Section
10.05 Payments.

 

		(a)	Subject
                                            to the terms and conditions herein, including, without limitation, Section 10.05(b), once
                                            a Loss is agreed to by the Indemnifying Party or finally adjudicated to be payable pursuant
                                            to this Article X or otherwise pursuant to this Agreement, the Indemnifying Party shall satisfy
                                            its indemnification obligations within fifteen (15) Business Days of such agreement or adjudication.

 

		(b)	Subject
                                            to the notice, dispute and other procedures herein, the Seller hereby agrees that Buyer shall
                                            be entitled to receive from the Holdback Amount an amount required to satisfy (i) Seller’s
                                            indemnification obligations with respect to any claim for Losses required to be paid by the
                                            Sellers pursuant to this Article X. If, at the time payment of the Holdback Amount is due
                                            to Seller pursuant to Section 2.06, there is a pending notice of claim by Buyer against Seller
                                            for indemnification pursuant to this Article X, then the Escrow Agent will withhold from
                                            the payment of the Holdback Amount then due to Seller an amount equal to the pending claim
                                            amount as described in such notice of claim until there is a final resolution of such claim
                                            (at which time Buyer shall be entitled to receive from the Escrow Account such amount as
                                            is necessary to satisfy the claim, and the Escrow Agent shall pay the balance, if any, to
                                            the Seller). Any portion of the Holdback Amount not so set-off or held pursuant to this Section
                                            10.05(b) shall be timely paid to Seller when due pursuant to Section 2.06(b). For the avoidance
                                            of doubt, the Parties acknowledge and agree that the Holdback Amount shall not be deemed
                                            to limit the liability of the Seller to the Buyer Indemnified Parties pursuant to this Article
                                            X, and the other limitations set forth herein shall be operative. In furtherance of the foregoing,
                                            the indemnification payments with respect to breaches of representations, warranties, covenants
                                            and agreements pursuant to this Article X shall be made by application for recovery and from
                                            the Holdback Amount in the Escrow Account until the Holdback Amount in the Escrow Account
                                            is exhausted, and thereafter shall be paid by Seller directly.

 

    	30

     

    

 

Section
10.06 Certain Limitations. The indemnification provided for in Section 10.02 and Section 10.03 shall be subject to the following
limitations:

 

		(a)	The
                                            Seller shall not be liable to the Buyer Indemnified Parties for indemnification under Section
                                            10.02 until the aggregate amount of all Losses in respect of indemnification under Section
                                            10.02 exceeds $25,000 (the “Basket”), in which event the Seller shall be required
                                            to pay or be liable for all such Losses in excess of the Basket.

 

		(b)	Buyer
                                            shall not be liable to the Seller for indemnification under and Section 10.03 until the aggregate
                                            amount of all Losses in respect of indemnification under Section 10.03 exceeds the Basket,
                                            in which event Buyer shall be required to pay or be liable for all such Losses in excess
                                            of the Basket.

 

		(c)	The
                                            Parties acknowledge and agree that the maximum liability of the Seller, on the one hand,
                                            and Buyer, on the other hand, for indemnification pursuant to this Article X shall be $260,000
                                            (the “Cap”), and neither the Seller, on the one hand, or Buyer, on the other
                                            hand, shall have any liability to the other in excess of the Cap.

 

Section
10.07 Tax Treatment of Indemnification Payments.  All indemnification payments made under this Agreement shall be treated by the
Parties as an adjustment to the consideration paid hereunder unless otherwise required by applicable Law.

 

Section
10.08 Effect of Investigation. The representations, warranties and covenants of the Indemnifying Party, and the Indemnified Party’s
right to indemnification with respect thereto, shall not be affected or deemed waived by reason of any investigation, ) made at any time,
whether before or after the execution and delivery of this Agreement, with respect to the accuracy or inaccuracy of or compliance with
any such representation, warranty, covenant or obligation, and made by or on behalf of the Indemnified Party (including by any of its
Representatives) or by reason of the fact that the Indemnified Party or any of its Representatives knew or should have known that any
such representation or warranty is, was or might be inaccurate. The waiver of any condition based upon the accuracy of any representation
or warranty, or on the performance of or compliance with any covenant or obligation, shall not affect the right to indemnification, reimbursement
or other remedy based upon such representations, warranties, covenants or obligations.

 

Section
10.09 Exclusive Remedy. In the event that the Closing occurs, the indemnification provisions contained in this Article X shall
be the sole and exclusive remedy of the Parties with respect to the Transactions for any and all breaches or alleged breaches of any
representations, warranties, covenants or agreements of the Parties hereto or any other provision of this Agreement or arising out of
the Transactions, except (i) with respect to any equitable remedy to which such Party may be entitled to with respect to any claims or
causes of action arising from the breach of any covenants or agreement of a Party that is to be performed subsequent to the Closing Date,
or (ii) with respect to a Party, an actual and intentional fraud with respect to this Agreement and the Transactions. In furtherance
of the foregoing, each Party hereto, for itself and on behalf of its Affiliates, hereby waives, from and after the Closing, to the fullest
extent permitted under applicable Law and except as otherwise specified in this Article X, any and all rights, claims and causes of action
it may have against any other Party hereto relating to the subject matter of this Agreement or any other agreement, certificate or other
document or instrument delivered pursuant to this Agreement, arising under or based upon any applicable Law.

 

    	31

     

    

 

Section
10.10 Limitation on Damages. IN NO EVENT WILL ANY PARTY BE LIABLE TO ANY OTHER PARTY UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR IN CONNECTION WITH THE TRANSACTIONS FOR SPECIAL, GENERAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING DAMAGES FOR LOST PROFITS OR
LOST OPPORTUNITY, EVEN IF THE PARTY SOUGHT TO BE HELD LIABLE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

 

Article
XI. MISCELLANEOUS

 

Section
11.01 Notices. Any notice or other communications required or permitted hereunder shall be in writing and shall be sufficiently
given if personally delivered to it or sent by overnight courier or registered mail or certified mail, postage prepaid, or electronic
mail with a follow up copy by overnight courier, addressed as follows:

 

If
to Buyer:

 

Tradition
Reserve I LLC

PO
Box 892

107
N Greeley Ave

Chappaqua,
NY 10514

Email:
michael.nordlicht@gmail.com

 

with
a copy, which shall not constitute notice, to:

 

Anthony
L.G., PLLC

Attn:
John Cacomanolis

625
N. Flagler Drive, Suite 600

West
Palm Beach, FL 33401

Email:
jcacomanolis@anthonypllc.com

 

If
to the Company or the Seller:

 

Ronin
Equity Partners, Inc.

Attn:
Jacob Cohen

3000
Blackburn Street, Suite #2101

Dallas,
Texas 75204

Email:
jcohen@roninequity.com

 

or
such other addresses as shall be furnished in writing by any Party in the manner for giving notices hereunder, and any such notice or
communication shall be deemed to have been given (i) upon receipt, if personally delivered or sent by electronic mail, (ii) on the day
after dispatch, if sent by overnight courier, and (iii) three (3) days after mailing, if sent by registered or certified mail.

 

    	32

     

    

 

Section
11.02 Governing Law; Jurisdiction.

 

		(a)	This
                                            Agreement, and any and all claims, proceedings or causes of action relating to this Agreement
                                            or arising from this Agreement or the transactions contemplated herein, including, without
                                            limitation, tort claims, statutory claims and contract claims, shall be interpreted, construed,
                                            governed and enforced under and in accordance with the substantive and procedural Laws of
                                            the State of Delaware in each case as in effect from time to time and as the same may be
                                            amended from time to time, without giving effect to the principles of conflicts of law of
                                            the State of Delaware or any other State or jurisdiction.

 

		(b)	The
                                            exclusive venue for all disputes, claims, suits and other matters arising hereunder shall
                                            be the courts of the State of Florida and the United States Federal courts located in Palm
                                            Beach County, Florida (the “Selected Courts”) and each of the Parties hereby
                                            irrevocably consents and agrees that any legal or equitable action or proceedings arising
                                            under or in connection with this Agreement shall be brought exclusively in the Selected Courts.
                                            By execution and delivery of this Agreement, each Party hereto irrevocably submits to and
                                            accepts, with respect to any such action or proceeding, generally and unconditionally, the
                                            jurisdiction of the aforesaid court, and irrevocably waives any and all rights such Party
                                            may now or hereafter have to object to such jurisdiction.

 

Section
11.03 Waiver of Jury Trial. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE
OTHER TRANSACTION DOCUMENTS IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH SUCH PARTY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT, THE OTHER
TRANSACTION DOCUMENTS OR THE CONTEMPLATED TRANSACTIONS. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A
LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH
PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS Section 11.03.

 

Section
11.04 Specific Performance. The Parties agree that irreparable damage would occur if any provision of this Agreement were not
performed in accordance with the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof, in
addition to any other remedy to which they are entitled at law or in equity.

 

Section
11.05 Attorneys’ Fees. In the event that any Party institutes any action or suit to enforce this Agreement or to secure
relief from any default hereunder or breach hereof, the prevailing Party shall be reimbursed by the losing Party for all costs, including
reasonable attorneys’ fees, incurred in connection therewith and in enforcing or collecting any judgment rendered therein.

 

    	33

     

    

 

Section
11.06 Confidentiality. Buyer, on the one hand, the Company and the Seller, on the other hand, each agree with the other that the
documentation and other information disclosed to them by the other Parties hereunder to evaluate various the business and affairs of
the Company or Buyer, as the case may be, and various aspects of the Transactions may contain proprietary confidential information and
trade secrets, and that the disclosure and unauthorized use of such information could cause irreparable injury. The Parties agree that
all such information and materials shall be used and disclosed only to the limited extent necessary for the Parties hereto (and their
professional advisors) to evaluate the Transactions. All extracts, digests and copies of such documentation and information shall be
maintained under strict control by the recipients, other than as required by applicable Law. Upon termination of the negotiations by
the Parties, no Party (or advisor to such Party) shall make any further use of such documentation and information, and all documentation
previously obtained (together with all copies, abstracts, digests and analyses thereof) shall be returned to the Party providing such
information.

 

Section
11.07 Public Announcements and Filings. Other than as set forth in Section 6.01, unless required by applicable Law or regulatory
authority, none of the Parties will issue any report, statement or press release to the general public, trade or trade press, or to any
third party (other than its advisors and representatives in connection with Transactions) or file any document, relating to this Agreement
and Transactions, except as may be mutually agreed by Buyer and the Seller. Copies of any such filings, public announcements or disclosures,
including any announcements or disclosures mandated by Law or regulatory authorities, shall be delivered to each Party prior to the release
thereof.

 

Section
11.08 Schedules; Knowledge. Each Party is presumed to have full knowledge of all information set forth in the other Party’s
schedules delivered pursuant to this Agreement.

 

Section
11.09 Third-Party Beneficiaries. This Agreement is strictly between the Parties and, except as specifically provided, no director,
officer, stockholder (other than the Seller), employee, agent, independent contractor or any other Person shall be deemed to be a third-Party
beneficiary of this Agreement.

 

Section
11.10 Expenses. Other than as specifically set forth herein, whether or not the Transactions are consummated, each of Buyer, on
the one hand, and the Company and the Seller, on the other hand, will bear their own respective expenses, including without limitation
the fees and expenses of its legal, accounting and financial advisors, incurred in connection with the Transactions.

 

Section
11.11 Entire Agreement. This Agreement and the other Transaction Documents represent the entire agreement between the Parties
relating to the subject matter thereof and supersede all prior agreements, understandings and negotiations, written or oral, with respect
to such subject matter. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such
term or provision in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or unenforceable,
the Parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the Parties as closely as possible
in a mutually acceptable manner in order that the Transactions be consummated as originally contemplated to the greatest extent possible.

 

    	34

     

    

 

Section
11.12 Amendment or Waiver. Other than as specifically set forth herein, every right and remedy provided herein shall be cumulative
with every other right and remedy, whether conferred herein, at law, or in equity, and may be enforced concurrently herewith, and no
waiver by any Party of the performance of any obligation by the other shall be construed as a waiver of the same or any other default
then, theretofore, or thereafter occurring or existing. This Agreement may by amended only by a writing signed by all Parties hereto.

 

Section
11.13 Commercially Reasonable Efforts. Subject to the terms and conditions herein provided, each Party shall use its commercially
reasonable efforts to perform or fulfill all conditions and obligations to be performed or fulfilled by it under this Agreement so that
Transactions shall be consummated as soon as practicable. Each Party also agrees that it shall use its commercially reasonable efforts
to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable under applicable
Laws and regulations to consummate and make effective this Agreement and the Transactions.

 

Section
11.14 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective
successors and permitted assigns. No Party shall have any power or any right to assign or transfer, in whole or in part, this Agreement,
or any of its rights or any of its obligations hereunder, including, without limitation, any right to pursue any claim for damages pursuant
to this Agreement or the Transactions, or to pursue any claim for any breach or default of this Agreement, or any right arising from
the purported assignor’s due performance of its obligations hereunder, without the prior written consent of each of the other Parties
and any such purported assignment or transfer in contravention of the provisions herein shall be null and void and of no force or effect.

 

Section
11.15 Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original and all
of which taken together shall be but a single instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf
or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and
any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

[Signature
Pages Follow]

 

    	35

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	 	Tradition
    Reserve I LLC
	 	 	 
	 	By:	/s/
    Kerry E. Cassidy
	 	Name:	Kerry
    E. Cassidy
	 	Title:	Managing
    Member
	 	 	 
	 	Ronin
    Equity Partners, Inc.
	 	 	 
	 	By:	/s/
    Jacob Cohen
	 	Name:	Jacob
    Cohen
	 	Title:	President
    and Chief Executive Officer
	 	 	 
	 	MDwerks,
    Inc.
	 	 	 
	 	By:	/s/
    Michael Gelmon
	 	Name:	Michael
    Gelmon
	 	Title:	President
    and Chief Executive Officer  

 

    	36

     

    

 

Exhibit
A

 

IRREVOCABLE
STOCK POWER

 

MDwerks,
Inc.

 

FOR
VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, Ronin Equity Partners, Inc. (“Seller”) hereby assigns,
transfers, and conveys to Tradition Reserve I LLC, a New York limited liability company, all of Seller’s right, title, and interest
in and to ten million (10,000,000) shares of Series A Convertible Preferred Stock, par value $0.001 per share, of MDwerks, Inc., a Delaware
corporation (the “Company”) and hereby irrevocably appoints the Chief Executive Officer, President and Secretary of the Company,
and each of them, as Seller’s attorney-in-fact to transfer said shares on the books of the Company, with full power of substitution
in the premises.

 

Date:
______________________, 2022

 

Seller
Name: Ronin Equity Partners, Inc.

 

	By:	/s/
    Jacob Cohen	 
	Name:	Jacob
    Cohen	 
	Title:	President
    and Chief Executive Officer	 

 

STATE
OF __________________

COUNTY
OF ___________________

Sworn
to and subscribed before me this _____ day of July, 2022, by Jacob Cohen, who is personally known to me or who has produced ________________________
as identification.

 

Notary’s
Signature: _______________________________

Print
Notary’s Name: ______________________________

NOTARY
PUBLIC, State of _______________

My
commission expires: ________________________

 

    	 

     

    

 

Exhibit
B

Form
of Debt Forgiveness and Release Agreement

 

(Attached)

 

    	 

     

    

 

Debt
Forgiveness and Release Agreement

 

Dated
as of July 21, 2022

 

This
Debt Forgiveness and Release Agreement (this “Agreement”), dated as of the date first set forth above (the “Effective
Date”), is entered into by and between MDWerks, Inc., a Delaware corporation (the “Company”) and Asia Pacific Partners,
Inc., a Florida corporation (“APP”). Each of the Company and APP may be referred to herein individually as a “Party”
and collectively as the “Parties”.

 

RECITALS

 

WHEREAS,
APP has previously loaned or advances to the Company certain amounts, which, as of the Effective Date, total $239,444 and which are comprised
of (i) the principal amount and accrued interest pursuant to a convertible promissory note dated July 18, 2014 in the amount of $210,000
as originally issued by the Company to Azure Associates, Inc. and purchased by APP on July 28th, 2020 (the “Asia Note”),
and (ii) various cash advances for a total of $29,444 as advanced by APP to MDWK for working capital (the “Asia Cash Advances”
and, together with any and all amounts that may be due and payable pursuant to the Asia Note, the “Forgiven Debt”);

 

WHEREAS,
the Asia Note and any and all agreements, documents or instruments related thereto to related to the Asia Cash Advances are referred
to herein collectively as the “Loan Documents”; and

 

WHEREAS,
in connection with the transactions herein, and in consideration thereof, the Company and APP desire to forgive, cancel and terminate
the Forgiven Debt, which shall be considered paid in full, and cancel and terminate the Loan Documents, which shall be deemed satisfied
in full;

 

NOW,
THEREFORE, in consideration of the covenants, promises and representations set forth herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties agree as follows:

 

	1.	Termination
                                            of Forgiven Debt and Loan Documents. The Parties agree as follows:

		(a)	As
                                            of the Effective Date, any and all amounts remaining owed in connection with the Forgiven
                                            Debt or pursuant to the Loan Documents are hereby forgiven and the Forgiven Debt is deemed
                                            paid in full. The Company shall cancel all of the Forgiven Debt on its books and records
                                            immediately following the effectiveness of this Agreement as set forth herein.

		(b)	Notwithstanding
                                            anything to the contrary in the Loan Documents, the Loan Documents are hereby terminated,
                                            effective as of the Effective Date and shall hereafter be null and void and of no further
                                            force or effect. This Agreement shall be deemed a termination of the Loan Documents thereunder.

		(c)	No
                                            Party shall be entitled to any payments or other compensation in connection with the termination
                                            of the Loan Documents or forgiveness of the Forgiven Debt. The Parties acknowledge and agree
                                            that all payments and actions required pursuant to the Loan Documents or for the Forgiven
                                            Debt through the Effective Date have been made and completed.

    	1

     

    

 

		(d)	The
                                            consideration for the forgiveness of the Forgiven Debt and termination of the Loan Documents
                                            is the consummation of the transactions as set forth in the Securities Purchase Agreement,
                                            dated as of July 21, 2022 (“SPA”), by and between the Company, Ronin Equity Partners,
                                            Inc., a Texas corporation (“Ronin”) and Tradition Reserve I LLC, a New York limited
                                            liability company (“Tradition Reserve”), which APP agrees and acknowledges are
                                            of a material benefit to APP, and constitute sufficient and fair consideration for the forgiveness
                                            of the Forgiven Debt and termination of the Loan Documents, and that the entry into of this
                                            Agreement and the consummation of the transactions as set forth herein is a condition precedent
                                            to the consummation of the transactions as set forth in the SPA.

	2.	Release
                                            of Claims.

		(a)	Effective
                                            as of the Effective Date, the Company, for itself and its Affiliates (as hereinafter defined),
                                            and each of their respective predecessors, successors, assigns, heirs, representatives, and
                                            agents and for all related parties, and all persons acting by, through, under or in concert
                                            with any of them in both their official and personal capacities (collectively, the “Company
                                            Parties”) hereby irrevocably, unconditionally and forever release, discharge and remise
                                            APP and its Affiliates (whether an Affiliate as of the Effective Date or later), and their
                                            respective predecessors, successors, assigns, heirs, representatives, and agents and for
                                            all related parties and all persons acting by, through, under or in concert with any of them
                                            in both their official and personal capacities (collectively, the “APP Parties”),
                                            from all claims of any type and all manner of action and actions, cause and causes of action,
                                            suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants,
                                            contracts, controversies, agreements, promises, variances, trespasses, damages, judgments,
                                            executions, claims and demands whatsoever, in law or in equity, known or unknown, that any
                                            Company Party may have now or may have in the future, against any of the APP Parties to the
                                            extent that those claims arose, may have arisen, or are based on events which occurred at
                                            any point in the past up to and including the Effective Date, including, without limitation,
                                            any such matters related to the Forgiven Debt and the Loan Documents or the transactions
                                            contemplated therein but excluding, for greater certainty, the obligations of APP hereunder
                                            (collectively, the “Company Released Claims”). The Company represents and warrants
                                            that no Company Released Claim released herein has been assigned, expressly, impliedly, or
                                            by operation of law, and that all Company Released Claims released herein are owned by the
                                            Company, which has the respective sole authority to release them. The Company agrees that
                                            it shall forever refrain and forebear from commencing, instituting or prosecuting any lawsuit
                                            action or proceeding, judicial, administrative or otherwise collect or enforce any Company
                                            Released Claim which is released and discharged herein. For purposes hereof, an “Affiliate”
                                            of a Party shall be any Party that controls, is controlled by, or is under common control
                                            with, the subject Party.

		(b)	Effective
                                            as of the Effective Date, APP, for itself and the other APP Parties, hereby irrevocably,
                                            unconditionally and forever releases, discharges and remises each Company Party, from all
                                            claims of any type and all manner of action and actions, cause and causes of action, suits,
                                            debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts,
                                            controversies, agreements, promises, variances, trespasses, damages, judgments, executions,
                                            claims and demands whatsoever, in law or in equity, known or unknown, that any APP Party
                                            may have now or may have in the future, against any of the Company Parties to the extent
                                            that those claims arose, may have arisen, or are based on events which occurred at any point
                                            in the past up to and including the Effective Date, including, without limitation, any such
                                            matters related to the Forgiven Debt and the Loan Documents or the transactions contemplated
                                            therein, but excluding, for greater certainty, the obligations of the Company hereunder (collectively,
                                            the “APP Released Claims”). APP represents and warrants that no APP Released
                                            Claim released herein has been assigned, expressly, impliedly, or by operation of law, and
                                            that all APP Released Claims released herein are owned by APP, who has the sole authority
                                            to release them. APP agrees that he shall forever refrain and forebear from commencing, instituting
                                            or prosecuting any lawsuit action or proceeding, judicial, administrative or otherwise collect
                                            or enforce any APP Released Claim which is released and discharged herein.

    	2

     

    

 

		3.	Covenant
                                            Not to File a Claim and Indemnification.

		(a)	The
                                            Company agrees not to file for itself or on behalf of any other Company Party, any claim,
                                            charge, complaint, action, or cause of action against any APP Party related to the Company
                                            Released Claims, and further agrees to indemnify and save harmless such APP Parties from
                                            and against any and all losses, including, without limitation, the cost of defense and legal
                                            fees, occurring as a result of any claims, charges, complaints, actions, or causes of action
                                            made or brought by any Company Party against any APP Party, whether the releases as set forth
                                            herein given by any Company Party are effective or not. In the event that any Company Party
                                            brings a suit against any APP Party with respect to any Company Released Claim, the Company
                                            agrees to pay any and all costs of the APP Parties, including attorneys’ fees, incurred
                                            by such APP Parties in challenging such action. Any APP Party is an intended third-party
                                            beneficiary of this Agreement.

		(b)	APP
                                            agrees not to file for itself or on behalf of any APP Party, any claim, charge, complaint,
                                            action, or cause of action against any Company Party related to the APP Released Claims,
                                            and further agrees to indemnify and save harmless such Company Parties from and against any
                                            and all losses, including, without limitation, the cost of defense and legal fees, occurring
                                            as a result of any claims, charges, complaints, actions, or causes of action made or brought
                                            by any such APP Party against any Company Party, whether the releases as set forth herein
                                            given by any APP Party are effective or not. In the event that any APP Party brings a suit
                                            against any Company Party with respect to any APP Released Claim, APP agrees to pay any and
                                            all costs of the Company Parties, including attorneys’ fees, incurred by such Company
                                            Parties in challenging such action. Any Company Party is an intended third-party beneficiary
                                            of this Agreement.

		4.	Affirmations.

		(a)	The
                                            Company affirms that it has not filed, caused to be filed, or presently is a party to any
                                            claim, complaint, or action against any APP Party in any forum or form and should any such
                                            charge or action be filed by any Company Party or by any other person or entity on any Company
                                            Party’s behalf involving matters covered by Section 2(a), the Company agrees to promptly
                                            give the agency or court having jurisdiction a copy of this Agreement and inform them that
                                            any such claims any such Company Party might otherwise have had are now settled.

		(b)	APP
                                            affirms that it has not filed, caused to be filed, or presently is a party to any claim,
                                            complaint, or action against any Company Party in any forum or form and should any such charge
                                            or action be filed by any APP Party or by any other person or entity on any APP Party’s
                                            behalf involving matters covered by Section 2(b), APP agrees to promptly give the agency
                                            or court having jurisdiction a copy of this Agreement and inform them that any such claims
                                            any such APP Party might otherwise have had are now settled.

    	3

     

    

 

		(c)	This
                                            is a compromise and settlement of potential or actual disputed claims and is made solely
                                            for the purpose of avoiding the uncertainty, expense, and inconvenience of future litigation.
                                            Neither this Agreement nor the furnishing of any consideration concurrently with the execution
                                            hereof shall be deemed or construed at any time or for any purpose as an admission by any
                                            Party of any liability or obligation of any kind. Any such liability or wrongdoing is expressly
                                            denied. The Parties hereto acknowledge that this Agreement was reached after good faith settlement
                                            negotiations and after each Party had an opportunity to consult legal counsel. This Agreement
                                            extends to, and is for the benefit of, the Parties, their respective successors, assigns
                                            and agents and anyone claiming by, through or under the Parties hereto.

		5.	Representations
                                            and Warranties of APP. APP represents and warrants to the Company as set forth below.

		(a)	Organization
                                            and Standing. APP is duly organized, validly existing, and in good standing under the
                                            laws of the State of Florida and has all requisite power and authority to own its properties
                                            and conduct its business as it is now being conducted. The nature of the business and the
                                            character of the properties APP owns or leases do not make licensing or qualification of
                                            APP as a foreign entity necessary under the laws of any other jurisdiction, except to the
                                            extent such licensing or qualification have already been obtained.

		(b)	Due
                                            Authority; No Violation. APP has all requisite rights and authority or the capacity to
                                            execute, deliver and perform its obligations under this Agreement. The execution and delivery
                                            of this Agreement and the consummation of the transactions contemplated hereby have been
                                            duly and validly authorized by all necessary action on the part of APP, and no other proceedings
                                            on the part of APP are necessary to authorize the execution, delivery and performance of
                                            this Agreement or the transactions contemplated hereby or thereby on the part of APP. The
                                            execution, delivery and performance of this Agreement will not (x) violate, conflict with,
                                            or result in the breach, acceleration, default or termination of, or otherwise give any other
                                            contracting party the right to terminate, accelerate, modify or cancel any of the terms,
                                            provisions, or conditions of any material agreement or instrument to which APP is a party
                                            or by which it or its assets may be bound or (y) constitute a violation of any material applicable
                                            law, rule or regulation, or of any judgment, order, injunctive award or decree of any governmental
                                            authority applicable to APP or (z) conflict with, result in the breach or termination of
                                            any provision of, or constitute a default under (in each case whether with or without the
                                            giving of notice or the lapse of time, or both) APP’s organizational documents, or
                                            any order, judgment, arbitration award, or decree to which such APP is a party or by which
                                            it or any of its assets or properties are bound.

		(c)	Approvals.
                                            No approval, authority, or consent of or filing by APP with, or notification to, any governmental
                                            authority, is necessary to authorize the execution and delivery of this Agreement or the
                                            consummation of the transactions contemplated herein.

    	4

     

    

 

		(d)	Sole
                                            Holder; No Other Debts. APP is the sole beneficial holder of the Forgiven Debt and the
                                            Loan Documents, and has not issued any other rights of participation, security interests
                                            or any other interest of any form to any other person or entity with respect to the Forgiven
                                            Debt or any of the Loan Documents. None of the Asia Cash Advances nor any instrument evidencing
                                            such obligations has ever been endorsed, pledged, sold, delivered, transferred, or assigned,
                                            and Asia does hereby agree that, in the event that such instruments do come into their possession,
                                            it will promptly surrender such instrument to the Company for cancellation. APP represents
                                            and warrants that the Company does not have any other debts, liabilities or obligations to
                                            pay any amounts to APP other than the Forgiven Debt, all of which shall be waived, cancelled
                                            and forgiven as set forth herein.

 

		(e)	Enforceability.
                                            This Agreement has been duly executed and delivered by APP and, assuming that this Agreement
                                            constitutes the legal, valid and binding obligation of the Company, constitutes the legal,
                                            valid, and binding obligation of APP, enforceable against APP in accordance with its terms,
                                            except to the extent that the enforceability thereof may be limited by applicable bankruptcy,
                                            insolvency, reorganization, moratorium, fraudulent conveyance and other similar laws of general
                                            application affecting enforcement of creditors’ rights generally.

		6.	Representations
                                            and Warranties of the Company. The Company represents and warrants to APP as set forth
                                            below.

		(a)	Organization
                                            and Standing. The Company is duly organized, validly existing, and in good standing under
                                            the laws of the State of Delaware and has all requisite power and authority to own its properties
                                            and conduct its business as it is now being conducted. The nature of the business and the
                                            character of the properties the Company owns or leases do not make licensing or qualification
                                            of the Company as a foreign entity necessary under the laws of any other jurisdiction, except
                                            to the extent such licensing or qualification have already been obtained.

		(b)	Due
                                            Authority; No Violation. The Company has all requisite rights and authority or the capacity
                                            to execute, deliver and perform its obligations under this Agreement. The execution and delivery
                                            of this Agreement and the consummation of the transactions contemplated hereby have been
                                            duly and validly authorized by all necessary action on the part of the Company, and no other
                                            proceedings on the part of the Company are necessary to authorize the execution, delivery
                                            and performance of this Agreement or the transactions contemplated hereby or thereby on the
                                            part of the Company. The execution, delivery and performance of this Agreement will not (x)
                                            violate, conflict with, or result in the breach, acceleration, default or termination of,
                                            or otherwise give any other contracting party the right to terminate, accelerate, modify
                                            or cancel any of the terms, provisions, or conditions of any material agreement or instrument
                                            to which the Company is a party or by which it or its assets may be bound or (y) constitute
                                            a violation of any material applicable law, rule or regulation, or of any judgment, order,
                                            injunctive award or decree of any governmental authority applicable to the Company or (z)
                                            conflict with, result in the breach or termination of any provision of, or constitute a default
                                            under (in each case whether with or without the giving of notice or the lapse of time, or
                                            both) the Company’s organizational documents, or any order, judgment, arbitration award,
                                            or decree to which such the Company is a party or by which it or any of its assets or properties
                                            are bound.

		(c)	Approvals.
                                            No approval, authority, or consent of or filing by the Company with, or notification to,
                                            any governmental authority, is necessary to authorize the execution and delivery of this
                                            Agreement or the consummation of the transactions contemplated herein.

    	5

     

    

 

		(d)	Enforceability.
                                            This Agreement has been duly executed and delivered by the Company and, assuming that this
                                            Agreement constitutes the legal, valid and binding obligation of APP, constitutes the legal,
                                            valid, and binding obligation of the Company, enforceable against the Company in accordance
                                            with its terms, except to the extent that the enforceability thereof may be limited by applicable
                                            bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other similar
                                            laws of general application affecting enforcement of creditors’ rights generally.

		7.	Covenants
                                            and Agreements.

		(a)	Each
                                            of the Parties, as promptly as practicable, shall make, or cause to be made, all filings
                                            and submissions under laws applicable to it and its affiliates, as may be required for it
                                            to consummate the transactions contemplated hereby and shall use its commercially reasonable
                                            efforts to obtain, or cause to be obtained, all other authorizations, approvals, consents
                                            and waivers from all persons and governmental authorities necessary to be obtained by it
                                            or its affiliates, in order for it to consummate such transactions, at the cost of the Party
                                            required to file or submit the same. Notwithstanding anything to the contrary herein, nothing
                                            herein shall require, or be construed to require, any Party to agree to hold separate or
                                            to divest any of the businesses, product lines or assets.

		(b)	Each
                                            Party hereto shall promptly inform the other Party of any material communication from any
                                            governmental authority regarding any of the transactions contemplated by this Agreement and
                                            shall promptly furnish the other Party with copies of substantive notices or other communications
                                            received from any third party or any governmental authority with respect to such transactions.
                                            Each Party shall agree on the content of any proposed substantive written communication or
                                            submission or any oral communication to any governmental authority. If any Party or any affiliate
                                            thereof receives a request for additional information or documentary material from any such
                                            governmental authority with respect to the transactions contemplated by this Agreement, then
                                            such Party will endeavor in good faith to make, or cause to be made, as soon as reasonably
                                            practicable and after consultation with the other Party, an appropriate response in compliance
                                            with such request. Each Party shall, to the extent practicable, provide the other Party and
                                            its counsel with advance notice of and the opportunity to participate in any substantive
                                            discussion, telephone call or meeting with any governmental authority in respect of any filing,
                                            investigation or other inquiry in connection with the transactions contemplated by this Agreement
                                            and to participate in the preparation for such discussion, telephone call or meeting, to
                                            the extent not prohibited by the governmental authority.

		8.	Miscellaneous.

		(a)	Indemnification.
                                            Each Party (the “Indemnifying Party”) hereby agrees to indemnify and hold harmless
                                            to the fullest extent permitted by applicable law, the other Party and its Affiliates and
                                            each of its and their respective Representatives (as defined below), members, managers, partners,
                                            directors, officers, employees, stockholders, attorneys and agents and permitted assignees
                                            (each an “Indemnified Party”), against and in respect of any and all out-of-pocket
                                            loss, cost, payments, demand, penalty, forfeiture, expense, liability, judgment, deficiency
                                            or damage, and diminution in value or claim (including actual costs of investigation and
                                            attorneys’ fees and other costs and expenses) incurred or sustained by any Indemnified
                                            Party as a result of or in connection with any breach, inaccuracy or nonfulfillment or the
                                            alleged breach, inaccuracy or nonfulfillment of any of the representations, warranties, covenants
                                            and agreements of the Indemnifying Party contained herein or in any of the additional agreements
                                            or any certificate or other writing delivered pursuant hereto. For purposes herein, “Representative”
                                            shall mean, with respect to any person or entity, any direct or indirect Affiliate of such
                                            person or entity, or any officer, director, manager, employee, investment banker, attorney
                                            or other authorized agent, advisor or representative of such person or entity or any direct
                                            or indirect Affiliate of such person or entity.

    	6

     

    

 

		(b)	Further
                                            Assurances. From time to time, whether at or following the Effective Date, each of the
                                            Parties shall execute such documents and perform such further acts as may be reasonably required
                                            to carry out the provisions hereof and the actions contemplated hereby and each Party shall
                                            make reasonable commercial efforts to take, or cause to be taken, all actions, and to do,
                                            or cause to be done, all things reasonably necessary, proper or advisable, including as required
                                            by applicable laws, to consummate and make effective as promptly as practicable the transactions
                                            contemplated by this Agreement.

		(c)	Expenses.
                                            Other than as specifically set forth herein, each of the Parties shall pay its own costs
                                            that it incurs incident to the preparation, execution, and delivery of this Agreement and
                                            the performance of any related obligations, whether or not the transactions contemplated
                                            by this Agreement shall be consummated.

		(d)	Fees.
                                            Each Party agrees to pay the costs and expenses, including reasonable attorneys’ fees,
                                            incurred by the prevailing Party in litigation, arbitration, administrative proceeding or
                                            any other proceeding related to the enforcement or interpretation of any of the terms of
                                            this Agreement.

		(e)	Consequential
                                            Damages. EACH PARTY HERETO WAIVES ANY AND ALL CLAIMS AGAINST THE OTHER FOR ANY LOSS,
                                            COST, DAMAGE, EXPENSE, INJURY OR OTHER LIABILITY WHICH IS IN THE NATURE OF INDIRECT, SPECIAL,
                                            INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES WHICH ARE SUFFERED OR INCURRED AS THE RESULT
                                            OF, ARISE OUT OF, OR ARE IN ANY WAY CONNECTED TO THE PERFORMANCE OF THE OBLIGATIONS UNDER
                                            THIS AGREEMENT.

		(f)	Representations
                                            and Warranties. All representations, warranties, and agreements made by the Parties pursuant
                                            to this Agreement shall survive the consummation of the transactions contemplated herein
                                            until the expiration of the applicable statute of limitations.

		(g)	Notices.
                                            Any notice or other communications required or permitted hereunder shall be in writing and
                                            shall be sufficiently given if personally delivered to it or sent by email, overnight courier
                                            or registered mail or certified mail, postage prepaid. Any notice hereunder shall be deemed
                                            to have been given (i) upon receipt, if personally delivered, (ii) on the day after dispatch,
                                            if sent by overnight courier, (iii) upon dispatch, if transmitted by email with return receipt
                                            requested and received and (iv) three (3) days after mailing, if sent by registered or certified
                                            mail. Any Party may change its address for notices hereunder upon notice to each other Party
                                            in the manner for giving notices hereunder. Copies of all notices hereunder shall also be
                                            sent to Ronin and Tradition Reserve to the addresses as set forth in the SPA. Notices to
                                            the Parties shall be sent as follows.

    	7

     

    

 

If
to the Company, to:

 

MDwerks,
Inc.

Attn:
Michael Gelmon

12
Park Mirage Lane

Rancho
Mirage, CA 92270

Email:
mgelmon@telusplanet.net

 

If
to APP:

 

Asia
Pacific Partners, Inc.

Attn:
Brad Stewart

4371
Northlake Blvd., Suite 238

Palm
Beach Gardens, FL 33410

Email:
brad@linearcg.com

 

		(h)	Choice
                                            of Law. This Agreement, and any and all claims, proceedings or causes of action relating
                                            to this Agreement or arising from this Agreement or the transactions contemplated herein,
                                            including, without limitation, tort claims, statutory claims and contract claims, shall be
                                            interpreted, construed, governed and enforced under and in accordance with the substantive
                                            and procedural laws of the State of Delaware, in each case as in effect from time to time
                                            and as the same may be amended from time to time, without giving effect to the principles
                                            of conflicts of law of the such jurisdiction or any other jurisdiction.

		(i)	Waiver
                                            of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
                                            LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY
                                            ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREIN. EACH
                                            PARTY HERETO(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
                                            REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
                                            SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO
                                            HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS
                                            AND CERTIFICATIONS IN THIS SECTION 8(I). EACH OF THE PARTIES ACKNOWLEDGE THAT EACH HAS BEEN
                                            REPRESENTED IN CONNECTION WITH THE SIGNING OF THIS WAIVER BY INDEPENDENT LEGAL COUNSEL SELECTED
                                            BY THE RESPECTIVE PARTY AND THAT SUCH PARTY HAS DISCUSSED THE LEGAL CONSEQUENCES AND IMPORT
                                            OF THIS WAIVER WITH LEGAL COUNSEL. EACH OF THE PARTIES FURTHER ACKNOWLEDGE THAT EACH HAS
                                            READ AND UNDERSTANDS THE MEANING OF THIS WAIVER AND GRANTS THIS WAIVER KNOWINGLY, VOLUNTARILY,
                                            WITHOUT DURESS AND ONLY AFTER CONSIDERATION OF THE CONSEQUENCES OF THIS WAIVER WITH LEGAL
                                            COUNSEL.

    	8

     

    

 

		(j)	Assignment.
                                            This Agreement shall be binding upon and shall inure to the benefit of the Parties and
                                            their respective successors and permitted assigns. No Party shall have any power or any right
                                            to assign or transfer, in whole or in part, this Agreement, or any of its rights or any of
                                            its obligations hereunder, including, without limitation, any right to pursue any claim for
                                            damages pursuant to this Agreement or the transactions contemplated herein, or to pursue
                                            any claim for any breach or default of this Agreement, or any right arising from the purported
                                            assignor’s due performance of its obligations hereunder, including by merger, consolidation,
                                            operation of law, or otherwise, without the prior written consent of the other Party and
                                            any such purported assignment in contravention of the provisions herein shall be null and
                                            void and of no force or effect.

		(k)	No
                                            Third-Party Beneficiaries. Nothing in this Agreement shall confer any rights, remedies
                                            or claims upon any Person or entity not a party or a permitted assignee of a party to this
                                            Agreement. Notwithstanding the foregoing, the Parties acknowledge and agree that each of
                                            Ronin and Tradition Reserve are intended third-party beneficiaries of this Agreement and
                                            may enforce this agreement as though each of them was a party hereto.

		(l)	Specific
                                            Performance. The Parties agree that irreparable damage would occur in the event that
                                            any of the provisions of this Agreement were not performed by them in accordance with the
                                            terms hereof or were otherwise breached and that each Party shall be entitled to an injunction
                                            or injunctions, specific performance and other equitable relief to prevent breaches of the
                                            provisions hereof and to enforce specifically the terms and provisions hereof, without the
                                            proof of actual damages, in addition to any other remedy to which they are entitled at law
                                            or in equity. Each Party agrees to waive any requirement for the security or posting of any
                                            bond in connection with any such equitable remedy, and agrees that it will not oppose the
                                            granting of an injunction, specific performance or other equitable relief on the basis that
                                            (a) any other Party has an adequate remedy at law, or (b) an award of specific performance
                                            is not an appropriate remedy for any reason at law or equity.

		(m)	Entire
                                            Agreement. This Agreement represents the entire understanding and agreement between the
                                            Parties regarding the subject matter hereof and supersede all prior agreements, representations,
                                            warranties, and negotiations between the Parties. This Agreement may be amended, supplemented,
                                            or changed only by an agreement in writing that makes specific reference to this Agreement
                                            or the agreement delivered pursuant to it, and must be signed by all of the Parties. This
                                            Agreement may not be amended by email or other electronic communications.

		(n)	Interpretation.
                                            The Parties have jointly participated in the drafting and negotiation of this Agreement and
                                            if an ambiguity or question of interpretation should arise, this Agreement shall be construed
                                            as if drafted jointly by the Parties and no presumption of burden of proof shall arise favoring
                                            or burdening any Party by virtue of the authorship of any provision in this Agreement.

    	9

     

    

 

		(o)	Severability.
                                            Whenever possible, each provision of this Agreement shall be interpreted in a manner to be
                                            effective and valid under applicable law, but if one or more of the provisions of this Agreement
                                            is subsequently declared invalid or unenforceable, the invalidity or unenforceability shall
                                            not in any way affect the validity or enforceability of the remaining provisions of this
                                            Agreement. In the event of the declaration of invalidity or unenforceability, this Agreement,
                                            as modified, shall be applied and construed to reflect substantially the intent of the Parties
                                            and achieve the same economic effect as originally intended by its terms. In the event that
                                            the scope of any provision to this Agreement is deemed unenforceable by a court of competent
                                            jurisdiction, or by an arbitrator, the Parties agree to the reduction of the scope of the
                                            provision as the court or arbitrator shall deem reasonably necessary to make the provision
                                            enforceable under the circumstances.

		(p)	Headings.
                                            The headings contained in this Agreement are intended solely for convenience and shall not
                                            affect the rights of the Parties to this Agreement.

		(q)	Waiver;
                                            Remedies. Waiver of any term or condition of this Agreement by any Party shall only be
                                            effective if in writing and shall not be construed as a waiver of any subsequent breach or
                                            failure of the same term or condition, or a waiver of any other term or condition of this
                                            Agreement. Neither any failure or delay in exercising any right or remedy hereunder or in
                                            requiring satisfaction of any condition herein nor any course of dealing shall constitute
                                            a waiver of or prevent any Party from enforcing any right or remedy or from requiring satisfaction
                                            of any condition. No notice to or demand on a Party waives or otherwise affects any obligation
                                            of that Party or impairs any right of the Party giving such notice or making such demand,
                                            including any right to take any action without notice or demand not otherwise required by
                                            this Agreement. No exercise of any right or remedy with respect to a breach of this Agreement
                                            shall preclude exercise of any other right or remedy, as appropriate to make the aggrieved
                                            Party whole with respect to such breach, or subsequent exercise of any right or remedy with
                                            respect to any other breach. Every right and remedy provided herein shall be cumulative with
                                            every other right and remedy, whether conferred herein, at law, or in equity, and may be
                                            enforced concurrently herewith, and no waiver by any Party of the performance of any obligation
                                            by the other shall be construed as a waiver of the same or any other default then, theretofore,
                                            or thereafter occurring or existing.

		(r)	Counterparts.
                                            This Agreement may be executed in multiple counterparts, each of which shall be deemed an
                                            original and all of which taken together shall be but a single instrument. Counterparts may
                                            be delivered via facsimile, electronic mail (including pdf or any electronic signature complying
                                            with the U.S. federal ESIGN Act of 2000 (e.g., www.docusign.com) or other transmission method
                                            and any counterpart so delivered shall be deemed to have been duly and validly delivered
                                            and be valid and effective for all purposes.

 

[Remainder
of page intentionally left blank – Signature pages follow]

 

    	10

     

    

 

IN
WITNESS WHEREOF, the Parties have duly executed this Agreement as of the Effective Date.

 

	 	MDWerks,
    Inc.
	 	 	 
	 	By:	/s/Michael
    Gelmon
	 	Name:	Michael
    Gelmon
	 	Title:	President
    and Chief Executive Officer

 

	 	Asia
    Pacific Partners, Inc.
	 	 	 
	 	By:	

                                                         /s/
                                            Brad Stewart

	 	Name:
    	Brad
    Stewart
	 	Title:
    	President
    and Chief Executive Officer

 

Acknowledged,
agreed and accepted: 

 

	Tradition
    Reserve I LLC	 
	 	 	 
	By:	

                                                         /s/
                                                         Kerry E. Cassidy
	 
	Name:	Kerry
    E. Cassidy	 
	Title:	Managing
    Member	 

 

	Ronin
    Equity Partners, Inc.	 
	 	 	 
	By:	/s/
    Jacob Cohen

                                                         
	 
	Name:	Jacob
    Cohen	 
	Title:	President
    and Chief Executive Officer  	 

 

    	11

     

    

 

Exhibit
C

Form
of Escrow Agreement

 

(Attached)

 

    	 

     

    

 

ESCROW
AGREEMENT

 

This
ESCROW AGREEMENT (this “Agreement”), dated as of July 21, 2022, is made by and among Lawrence R. Gelber, Attorney at Law
(the “Escrow Agent”), Tradition Reserve I LLC, a New York limited liability company (the “Purchaser”), and Ronin
Equity Partners, Inc., a Texas corporation (the “Seller”). Each of the Purchaser, the Seller and the Escrow Agent are referred
to herein individually as a “Party” and collectively as the “Parties.”

 

WHEREAS,
reference is hereby made to that certain Stock Purchase Agreement, dated as of July 21, 2022, by and between the Purchaser, Seller and
MDwerks, Inc., a Delaware corporation (the “Contract”);

 

WHEREAS,
pursuant to and in accordance with the Contract, the Purchaser desires to deposit with the Escrow Agent, by wire transfer of immediately
available funds to the appropriate account designated on Annex I attached hereto, the sum of $78,000 (“Escrow Funds”), and
(iii) Purchaser and Seller desire to deposit with the Escrow Agent the Escrow Fee (as hereafter defined); and

 

WHEREAS,
Escrow Agent agrees to act as escrow agent with respect to the Escrow Funds, which shall be disbursed only in accordance with the terms
and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the premises, representations and warranties and mutual covenants contained herein and of other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties
agree as follows:

 

1.
The Escrow Funds shall be deposited by Escrow Agent in a non-interest-bearing IOLA or Attorney’s Trust account of Escrow Agent
in the State of New York, and held by Escrow Agent in accordance with this Agreement and all applicable laws and the Rules of Professional
Conduct applicable to attorneys practicing law in the State of New York.

 

2.
The Escrow Agent is employed hereunder in a ministerial capacity only, and shall act only upon the receipt of joint written instructions
duly executed by each of the Purchaser and the Seller, in substantially the form attached hereto as Annex II (“Joint Written Instructions”),
and shall not be liable to any other Party for any loss or damage resulting therefrom, except for loss or damage resulting from the bad
faith or willful misconduct of the Escrow Agent.

 

3.
Upon receipt of duly executed Joint Written Instructions, the Escrow Agent shall disburse the Escrow Funds as specified therein, to the
appropriate account designated on Annex I attached hereto, or such other account as may be designated to the Escrow Agent in writing
from time to time in accordance with Section 9. Except upon receipt of duly executed Joint Written Instructions or in accordance with
a court order as contemplated by clause (b) of Section 4, below, the Escrow Agent shall not make any disbursements of the Escrow Funds.

 

4.
If there is any dispute among the Purchaser and the Seller as to whether the Escrow Agent shall disburse any Escrow Funds held hereunder,
the Escrow Agent may either (a) hold such items until receipt of Joint Written Instructions duly executed by each of the Purchaser and
the Seller, or (b) retain counsel and tender or interplead such items into court located in the State of New York in connection with
a proceeding to determine the rights and obligations of the Parties.

 

    	1

     

    

 

5.
The Purchaser and the Seller shall jointly and severally indemnify and hold the Escrow Agent harmless from and against any and all claims,
liability, loss, cost, and expense (including reasonable attorneys’ fees and court costs) arising from the performance of the Escrow
Agent hereunder, except for any such claim, action, or proceeding resulting in a final determination that the Escrow Agent breached its
obligations through bad faith or willful misconduct.

 

6.
The Escrow Agent’s entire compensation hereunder shall be $3,000 (three thousand dollars) (the “Escrow Fee”) for each
year or part of a year the Escrow Funds remain in escrow hereunder. The term “year” means 12 consecutive months running from
the date the Escrow Funds are received. The Escrow Fee shall be paid 50% (fifty percent) by each of the Purchaser and the Seller. By
its due execution and delivery of this Agreement, the Escrow Agent confirms receipt of the Escrow Fee.

 

7.
So long as any monies are held or invested in accordance with the instructions of the Purchaser and the Seller, the Escrow Agent shall
not be responsible for any loss or delay occasioned by the closure or insolvency of the institution with which any funds are invested,
and shall have no liability for lost interest earnings on such funds occasioned by delay in the execution of Joint Written Instructions
or by early withdrawal of funds.

 

8.
The Escrow Agent may resign by furnishing written notice of its resignation to the Purchaser and the Seller, and the Purchaser and the
Seller may remove the Escrow Agent by furnishing to the Escrow Agent joint notice of its removal. Such resignation or removal, as the
case may be, shall be effective 30 calendar days after the delivery of such notice or upon the earlier appointment of a successor, and
the Escrow Agent’s sole responsibility thereafter shall be to safely keep the Escrow Funds and to deliver the same to a successor
escrow agent as shall be appointed by the Purchaser and the Seller, as evidenced by Joint Written Instructions or in accordance with
a court order. If the Purchaser and the Seller have failed to appoint a successor escrow agent prior to the expiration of 30 calendar
days following the delivery of such notice of resignation or removal, the Escrow Agent may (a) petition any court of competent jurisdiction
for the appointment of a successor escrow agent or for other appropriate relief, and any such resulting appointment shall be binding
upon the Purchaser and the Seller, or (b) interplead the Escrow Funds with a court located in the State of New York, and the costs, expenses
and reasonable attorney’s fees which are incurred in connection with such proceeding shall be paid by fifty percent (50%) by each
of the Purchaser and the Seller.

 

    	2

     

    

 

9.
Notices. Joint Written Instructions may be delivered electronically to the Escrow Agent at GelberLaw@aol.com. All other notices
and communications hereunder shall be in writing and shall be deemed given upon (a) delivery either personally or by nationally recognized
commercial delivery service, or (b) sent via email or facsimile (receipt confirmed; except in the case of email, an “automatic
responder” shall not be deemed confirmation of receipt), if followed by one of the methods in the foregoing clause (a), to the
Parties at the following addresses, facsimile numbers or email addresses (or at such other address, facsimile numbers or email address
for a Party as such Party shall specify by like notice):

 

if
to the Purchaser, to:

 

Tradition
Reserve I LLC

Attn:
Michael Nordlicht

PO
Box 892

107
N Greeley Ave

Chappaqua,
NY 10514

Email:
michael.nordlicht@gmail.com

 

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

 

Anthony
L.G., PLLC

Attn:
John Cacomanolis

625
N. Flagler Drive, Suite 600

West
Palm Beach, FL 33401

Email:
jcacomanolis@anthonypllc.com

 

if
to the Seller, to:

 

Ronin
Equity Partners, Inc.

Attn:
Jacob Cohen

3000
Blackburn Street, Suite #2101

Dallas,
Texas 75204

Email:
jcohen@roninequity.com

 

if
to the Escrow Agent, to:

 

Lawrence
R. Gelber, Attorney at Law

34
Plaza Street East, Suite 1107

Brooklyn,
New York 11238

Facsimile:
718 857 9339

E-mail:
GelberLaw@aol.com

 

10.
Miscellaneous.

 

		a.	Regardless
                                            of the place of execution or performance, this Agreement and the obligations of each Party
                                            shall be interpreted, governed, construed, and enforced in accordance with the laws of the
                                            State of New York applicable to contracts executed, delivered and to be fully performed in
                                            New York.

    	3

     

    

 

		b.	This
                                            Agreement and any Joint Written Instructions delivered hereunder may be executed in multiple
                                            original counterparts, all of which shall be deemed to be originals and with the same effect
                                            as if all Parties had signed the same document. All such counterparts shall be construed
                                            together and shall constitute one and the same instrument.

		c.	All
                                            signatures of the Parties may be transmitted by facsimile or as a PDF attached to an email,
                                            and such facsimile or PDF will, for all purposes, be deemed to be the original signature
                                            of such Party whose signature it reproduces, and will be binding upon such Party.

		d.	Each
                                            Party waives the right to a trial by jury in a summary or other action, proceeding or counterclaim
                                            arising out of or in any way connected with this Agreement.

		e.	References
                                            herein to “dollars” or “$” shall refer to United States Dollars.

 

		f.	Except
                                            with respect to claims or causes of action having accrued hereunder prior to such date, this
                                            Agreement shall terminate automatically upon the disbursement to the Purchaser or the Seller,
                                            as the case may be, of all Escrow Funds.

 

		g.	This
                                            Agreement sets forth the entire agreement and understanding of the Parties with respect to
                                            the matters contained herein and supersedes all prior agreements, arrangements and understandings
                                            relating thereto, including the Contract to the extent in conflict with the terms herein,
                                            provided that the Parties acknowledge and agree that the handling and release of the Escrow
                                            Funds shall also be governed by the provisions of the Contract.

		h.	This
                                            Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective
                                            successors and permitted assigns. Other than as specifically set forth herein, no Party shall
                                            have any power or any right to assign or transfer, in whole or in part, this Agreement, or
                                            any of its rights or any of its obligations hereunder, including, without limitation, any
                                            right to pursue any claim for damages pursuant to this Agreement or the transactions contemplated
                                            herein, or to pursue any claim for any breach or default of this Agreement, or any right
                                            arising from the purported assignor’s due performance of its obligations hereunder,
                                            including by merger, consolidation, operation of law, or otherwise, without the prior written
                                            consent of the other Party and any such purported assignment in contravention of the provisions
                                            herein shall be null and void and of no force or effect.

		i.	This
                                            Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions
                                            hereof may be waived, only by a written instrument executed by each Party or, in the case
                                            of a waiver, by the Party waiving compliance. The failure of any Party at any time or times
                                            to require performance of any provision hereof shall in no manner affect its right at a later
                                            time to enforce the same. No waiver of any Party of any condition, or of the breach of any
                                            term contained in this Agreement, whether by conduct or otherwise, in any one or more instances
                                            shall be deemed to be or construed as a further or continuing waiver of any such condition
                                            or breach or a waiver of any other condition or of the breach of any other term of this Agreement.
                                            No Party may assign any rights, duties or obligations hereunder unless all other Parties
                                            have given their prior written consent.

		j.	If
                                            any provision included in this Agreement proves to be invalid or unenforceable, it shall
                                            not affect the validity of the remaining provisions.

		k.	This
                                            Agreement is solely for the benefit of the Parties and their respective successors and permitted
                                            assigns, and no other person or entity has any right, benefit, priority, or interest under
                                            or because of the existence of

[signature
page follows]

 

    	4

     

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the day and year first above written.

 

	 	Tradition
    Reserve I LLC
	 	 	 
	 	By:	/s/
    Kerry E. Cassidy
	 	Name:	Kerry
    E. Cassidy
	 	Title:	Managing
    Member 
	 	 	 
	 	Ronin
    Equity Partners, Inc.
	 	 	 
	 	By:	/s/
    Jacob Cohen
	 	Name:	Jacob
    Cohen
	 	Title:	President
    and Chief Executive Officer 
	 	 	 
	 	LAWRENCE
    R. GELBER, ATTORNEY AT LAW
	 	 	 
	 	By:	/s/
    Lawrence R. Gelber
	 	Name:	Lawrence
    R. Gelber

 

[Signature
Page to Escrow Agreement]

 

    	5

     

    

 

Annex
I

Wire
Instructions

 

 

 

Ronin
Equity Partners, Inc.:

 

JP
Morgan Chase Bank

4998
Preston Road

Frisco,
TX 75034

972.377.5400

 

For
Benefit of:

 

Ronin
Equity Partners, Inc.

3000
Blackburn Street, #2101

Dallas,
TX 75204

ABA/Routing:
111 000 614

Account
#: 350 308 703

 

 

 

Tradition
Reserve I LLC

 

 

 

Escrow
Agent:

 

	Account
    Name:	 	Lawrence
    R. Gelber
		 	Attorney-at-Law
		 	IOLA
    Account
	 	 	 
	Bank	 	JPMorgan
    Chase Bank, N.A.
		 	New
    York, New York 10017
	 	 	 
	Account
    No.	 	318
    53 7906

 

    	 

     

    

 

Annex
II

Joint
Written Instructions

[Date]

 

VIA
EMAIL

GelberLaw@aol.com

 

Dear
Mr. Gelber:

 

Reference
is hereby made to that certain Escrow Agreement (the “Escrow Agreement”) dated as of July 21, 2022, by and among Lawrence
R. Gelber, Attorney at Law (the “Escrow Agent”), Tradition Reserve I LLC, a New York limited liability company (the “Purchaser”),
and Ronin Equity Partners, Inc., a Texas corporation (the “Seller”). Capitalized terms in this Joint Written Instruction
that are not otherwise defined shall have the same meaning given to them in the Escrow Agreement.

 

The
Purchaser and the Seller hereby jointly instruct the Escrow Agent to release $[●] from the Escrow Funds, to the [Purchaser/Seller],
by wire transfer of immediately available funds to the appropriate account previously designated pursuant to and in accordance with the
Escrow Agreement.

 

Your
prompt attention to this matter is greatly appreciated.

 

Very
truly yours,

 

	 	Tradition
    Reserve I LLC
	 	 	 
	 	By:	/s/
    Kerry E. Cassidy
	 	Name:	Kerry
    E. Cassidy
	 	Title:	Managing
    Member
	 	 	 
	 	Ronin
    Equity Partners, Inc.
	 	 	 
	 	By:	/s/
    Jacob Cohen
	 	Name:	Jacob
    Cohen
	 	Title:	President
    and Chief Executive OfficerEX-10.1

 Exhibit 10.1 

SECURITIES PURCHASE AGREEMENT 

This Securities Purchase Agreement (this “Agreement”) is dated as of July 26, 2022, between AlloVir, Inc., a corporation
organized under the laws of the State of Delaware (the “Company”), and each purchaser identified on the signature pages hereto (each, including its successors and permitted assigns a “Purchaser” and collectively the
“Purchasers”). 
 WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective
registration statement under the Securities Act of 1933, as amended (the “Securities Act”), the Company desires to issue and sell to the Purchasers, and the Purchasers desire to purchase from the Company, shares of the
Company’s common stock as more fully described in this Agreement. 
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained
in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows: 

ARTICLE I. 
 DEFINITIONS

 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement, the
following terms have the meanings set forth in this Section 1.1: 
 “ACA” shall
have the meaning ascribed to such term in Section 3.1(jj). 
 “Action” shall have
the meaning ascribed to such term in Section 3.1(l). 
 “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. 

“Anti-Money Laundering Laws” shall have the meaning ascribed to such term in
Section 3.1(s).  
 “Authorizations” shall have the meaning ascribed to
such term in Section 3.1(hh). 
 “Base Prospectus” means the final base prospectus
included in the Registration Statement at the time of effectiveness. 
 “Board of Directors” means the board
of directors of the Company. 
 “Breach” shall have the meaning ascribed to such term in
Section 3.1(y). 
 “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 the Trading Market and banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

 “Closing” means the closing of the purchase and sale of
Purchased Shares pursuant to Section 2.1. 
 “Closing Date” means the Trading Day
on which all conditions precedent to (i) the Purchaser’s obligations to pay the Subscription Amount and (ii) the Company’s obligations to deliver the Purchased Shares, in each case, have been satisfied or waived, but in no event
later than the second (2nd) Trading Day following the date hereof. 

“Code” shall have the meaning ascribed to such term in Section 3.1(aa). 

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

“Common Shares” means the shares of the Company’s common stock, par value $0.0001 per share, and any
other class of securities into which such securities may hereafter be reclassified or changed. 
 “Data”
shall have the meaning ascribed to such term in Section 3.1(x). 
 “Data Security
Obligations” shall have the meaning ascribed to such term in Section 3.1(x). 

“Disclosure Time” means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00
a.m. (New York City time) and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date hereof, and (ii) if this Agreement is signed between midnight (New
York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof. 

“Environmental Laws” shall have the meaning ascribed to such term in Section 3.1(p).

 “ERISA” shall have the meaning ascribed to such term in Section 3.1(aa). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder. 
 “FDA” means the U.S. Food and Drug Administration. 

“FINRA” shall have the meaning ascribed to such term in Section 3.1(e). 

“GAAP” means U.S. generally accepted accounting principles applied on a consistent basis during the periods
involved. 
 “Government Official” shall have the meaning ascribed to such term in
Section 3.1(r). 
 “Health Care Laws” shall have the meaning ascribed to such term
in Section 3.1(jj). 

 “HIPAA” shall have the meaning ascribed to such term in
Section 3.1(jj). 
 “Intellectual Property Rights” shall have the meaning
ascribed to such term in Section 3.1(v). 
 “Investors’ Rights Agreement”
shall mean the Amended and Restated Investors’ Rights Agreement, by and among the Company (f/k/a ViraCyte, Inc.) and the parties thereto, dated as of May 8, 2019, as amended from time to time. 

“Material Adverse Effect” shall have the meaning assigned to such term in
Section 3.1(b). 
 “Open Source Software” shall have the meaning ascribed to such
term in Section 3.1(w). 
 “Per Share Purchase Price” equals $4.61, subject to
adjustment for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Shares that occur after the date of this Agreement and prior to Closing. 

“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 Shares” means the shares in the Company’s preferred stock, par value $0.0001 per share,
issuable in series. 
 “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. 

“Programs” shall have the meaning ascribed to such term in Section 3.1(jj). 

“Prospectus Supplement” means the supplement to the Base Prospectus complying with Rule 424(b) of the
Securities Act that is filed with the Commission and delivered by the Company to the Purchasers on or prior to Closing, relating to the offer and sale of the Purchased Shares to the Purchasers. 

“Purchased Shares” means the Common Shares issuable to the Purchasers pursuant to this Agreement. 

“Purchaser Party” shall have the meaning ascribed to such term in Section 4.4. 

“Registrable Securities” shall have the meaning ascribed to such term in the Investors Rights Agreement. 

 “Registration Statement” means the effective registration
statement on Form S-3, as amended, filed with the Commission (File No. 333-258539) pursuant to the Securities Act on August 6, 2021, which became automatically
effective upon filing, as amended by the Post-Effective Amendments No. 1 and No. 2 filed with the Commission on February 10, 2022 and the Post-Effective Amendment No. 3 filed with the Commission on February 18, 2022 and declared effective
on February 28, 2022, relating to the offer and sale from time to time of the Company’s securities, including the Purchased Shares, including amendments, exhibits, schedules and documents incorporated or deemed to be incorporated by
reference therein and the documents otherwise deemed to a part thereof pursuant to Rule 430A or 430B under the Securities Act. 

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

 “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. 

“Sanctions” shall have the meaning ascribed to such term in Section 3.1(t). 

“Sarbanes-Oxley Act” shall have the meaning ascribed to such term in
Section 3.1(gg). 
 “SEC Reports” shall have the meaning ascribed to such term in
Section 3.1(i). 
 “Securities Act” means the Securities Act of 1933, as amended,
and the rules and regulations promulgated thereunder. 
 “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 locating and/or borrowing Common Shares). 

“Studies” shall have the meaning ascribed to such term in Section 3.1(ii). 

“Subscription Amount” means, as to each Purchaser, the aggregate amount to be paid for Common Shares purchased
hereunder as specified on Exhibit 1 attached hereto and next to the heading “Subscription Amount,” in United States Dollars and in immediately available funds. 

“Subsidiary” means any subsidiary of the Company. 

“Trading Day” means a day on which the principal Trading Market is open for trading. 

“Trading Market” means The Nasdaq Global Select Market (or any successors thereto). 

“Transfer Agent” means Computershare Trust Company, N.A., and any successor transfer agent of the Company.

 “USPTO” means the United States Patent and Trademark Office. 

 ARTICLE II. 

PURCHASE AND SALE 
 2.1
Closing. On the Closing Date, upon the terms and subject to the conditions set forth herein, the Company agrees to sell, and the Purchasers, severally and not jointly, agree to purchase, an aggregate of 27,458,095 Purchased Shares at the Per
Share Purchase Price and allocated in the amounts set forth on Exhibit 1. Each Purchaser’s Subscription Amount as set forth on Exhibit 1 shall be made available for “Delivery Versus Payment” settlement with the Company or its
designee. The Company and each Purchaser shall deliver the items set forth in Section 2.2 deliverable at the Closing. Upon satisfaction of the covenants and conditions set forth in Section 2.2 and
Section 2.3, the Closing shall occur remotely or at such physical location as the parties shall mutually agree. Payment of the Subscription Amount for the Purchased Shares shall be made by each Purchaser to the Company by
wire transfer of immediately available funds to a bank account designated by the Company against delivery to such Purchaser of the Purchased Shares registered in such Purchaser’s name and address or as otherwise directed to be registered by
such Purchaser, including but not limited to delivery through the facilities of The Depository Trust Company Deposit or Withdrawal at Custodian system. 

2.2 Deliveries. 

(a) On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each Purchaser the following: 

(i) this Agreement duly executed by the Company; 

(ii) the Prospectus Supplement; 

(iii) a copy of the executed treasury direction to the Transfer Agent instructing the Transfer Agent to deliver the Purchased
Shares, registered in the name of each Purchaser or such other registration information as directed by such Purchaser; 

(iv) a certificate, dated the Closing Date, signed by an executive officer of the Company (in his or her capacity as an officer
and without personal liability), certifying the matters in Sections 2.3(b)(i) and (ii) below; 
 (v) a certificate of
the secretary of the Company dated as of the Closing Date certifying that (1) attached thereto is a true and complete copy of each of the Company’s constating documents and all resolutions adopted by the Board of Directors of the Company
authorizing the execution, delivery and performance of this Agreement and that all such documents and resolutions are in full force and effect and (2) the incumbency of each officer signing this Agreement and the certificates and the documents
to be delivered hereunder; 
 (vi) the Company’s wire instructions, on Company letterhead and signed by the Chief
Executive Officer or Chief Financial Officer of the Company; 

 (vii) a certificate of good standing of the Company, dated within one
(1) Business Day of the Closing Date; 
 (viii) a customary opinion of the Company’s outside legal counsel, dated
the Closing Date, relating to the Purchased Shares, in form and substance reasonably satisfactory to the Purchasers; and 

(ix) the Purchased Shares (subject to receipt of the Subscription Amount). 

(b) On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company, the following: 

(i) this Agreement duly executed by such Purchaser; and 

(ii) the Subscription Amount, with respect to the Purchased Shares purchased by such Purchaser, which shall be made available
for “Delivery Versus Payment” settlement with the Company or its designee. 
 2.3 Closing Conditions. 

(a) The obligations of the Company hereunder in connection with the Closing are subject to the following conditions being met:

 (i) the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or
Material Adverse Effect, in all respects) on the Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific date therein in which case they shall be accurate as of such date); 

(ii) all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall
have been performed; and 
 (iii) the delivery by each Purchaser of the items set forth in
Section 2.2(b) of this Agreement. 
 (b) The respective obligations of the Purchasers hereunder in
connection with the Closing are subject to the following conditions being met: 
 (i) the accuracy in all material respects
(or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) when made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a
specific date therein in which case they shall be accurate as of such date); 
 (ii) all obligations, covenants and
agreements of the Company required to be performed at or prior to the Closing Date shall have been performed; 

 (iii) the delivery by the Company of the items set forth in
Section 2.2(a) of this Agreement; 
 (iv) there shall have been no Material Adverse Effect with
respect to the Company since the date hereof; 
 (v) no stop order or cease trade order suspending the effectiveness of the
Registration Statement or any part thereof, preventing or suspending the use of the Base Prospectus or the Prospectus Supplement or any part thereof shall have been issued, and no Proceedings for that purpose shall have been initiated or threatened;
and 
 (vi) from the date hereof to the Closing Date, trading in the Common Shares shall not have been suspended by the
Commission or the Trading Market, and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities
whose trades are reported by such service, or on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall there have occurred any material outbreak or escalation of
hostilities or other national or international calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of the Purchaser, makes it impracticable or
inadvisable to purchase the Purchased Shares at the Closing. 
 ARTICLE III. 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of the Company. The Company hereby represents and warrants as of the date hereof and
as of the Closing Date to the Purchasers as follows (unless as of a specific date therein, in which case they shall be accurate as of such date): 

(a) Subsidiaries. Except as set forth on Exhibit 21.1 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, the Company does not own, directly or indirectly, any shares of stock or any other equity or long-term debt securities of any corporation or have any equity interest
in any corporation, firm, partnership, joint venture, association or other entity.  

(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 (to the extent the concept of good standing is applicable in such jurisdiction) 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 and as described in each of the Registration Statement, and the Prospectus Supplement. Neither the Company nor its Subsidiaries are in violation nor default of any
of the provisions of its respective certificate of incorporation or articles of organization, bylaws or other organizational or charter documents, except where such violation or default 

 
would not reasonably be expected to have a Material Adverse Effect. The Company and each of its Subsidiary 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
resulted or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of this Agreement, (ii) a material adverse effect on the results of operations, assets, business, prospects or
condition (financial or otherwise) of the Company and its Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company’s ability to perform on a timely basis its obligations under this Agreement (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 otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated hereby 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 other than in connection with the Required
Approvals. This Agreement 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, the
issuance and sale of the Purchased Shares and the consummation by it of the transactions contemplated hereby do not and will not (i) conflict with or violate any provision of the Company’s certificate of incorporation, bylaws or other
organizational or charter documents, or (ii) contravene or constitute a default (or an event that with notice or lapse of time or both would become a default) under any agreement or other instrument binding upon the Company or its Subsidiaries
that is material to the Company and its Subsidiaries, taken as a whole, or result in the creation of any lien upon any of the properties or assets of the Company or give to others any rights of termination, amendment, anti-dilution or similar
adjustments, acceleration or cancellation (with or without notice, lapse of time or both), or (iii) subject to the Required Approvals, conflict with or result in a violation of any applicable law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which the Company or its Subsidiaries are subject (including federal, and state securities laws and regulations), or by which any property or asset of the Company or its
Subsidiaries 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 the Financial Industry Regulatory Authority
(“FINRA”), or other Person in connection with the execution, delivery and performance by the Company of this Agreement, other than: (i) the filings required pursuant to Section 4.2 of this Agreement,
(ii) the filing with the Commission of the Prospectus Supplement, (iii) application(s) to each applicable Trading Market for approval for the listing of the Purchased Shares for trading thereon in the time and manner required thereby, and
(iv) such filings as are required to be made under applicable state securities laws (collectively, the “Required Approvals”).  

(f) Issuance of the Purchased Shares; Registration. The Purchased Shares are duly authorized and, when issued and
paid for in accordance with this Agreement, will be duly and validly issued, fully paid and non-assessable, free and clear of all liens. The Company has reserved from its duly authorized capital stock the
maximum number of shares of Common Stock issuable pursuant to this Agreement. The issuance of the Purchased Shares has been registered by the Company under the Securities Act, the Purchased Shares are being issued pursuant to the Registration
Statement and all of the Purchased Shares are freely transferable and freely tradeable by each of the Purchasers on the Company’s Trading Market without restriction, and the Purchased Shares shall not bear any restrictive legends (electronic or
otherwise). The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities Act, including the Base Prospectus, and such amendments and supplements thereto as may have been required to the date of
this Agreement. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus Supplement has been
issued by the Commission and no Proceedings for that purpose or pursuant to Section 8A under the Securities Act have been instituted or, to the knowledge of the Company, are threatened by the Commission. Promptly after execution and delivery of
this Agreement, the Company shall file the Prospectus Supplement with the Commission pursuant to Rule 424(b) within the time period required under Rule 424(b), and in no event later than the Closing Date. At the time the Registration Statement and
any amendments thereto became effective, at the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and
did not and 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 not misleading; and the Prospectus Supplement and any amendments or
supplements thereto, as of the date of the Prospectus Supplement or any amendment or supplement thereto and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and the applicable rules
and regulations of the Commissions thereunder and did not and will not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. The Company was at the time of the filing of the Registration Statement and is, as of the date of this Agreement and the Closing, eligible to use Form S-3. 

 (g) Listing. The Company has filed a Listing of Additional
Shares Notification with the Nasdaq Global Select Market with respect to the Purchased Shares. 
 (h) Capitalization.
The capitalization of the Company is as set forth in the SEC Reports. The Company has not issued any securities since its most recently filed audited financial statements, other than pursuant to the exercise of outstanding employee stock options
under the Company’s stock option plans, the issuance of securities to employees pursuant to the Company’s 2018 Equity Incentive Plan, as amended, the Company’s 2020 Stock Option and Grant Plan, as amended, and the Company’s 2020
Employee Stock Purchase Plan. No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by this Agreement. Except as a set forth in the SEC Reports or
would not reasonably be expected to have a Material Adverse Effect, there are no outstanding options, warrants, subscription 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 Common Shares, Preferred Shares or other securities of the Company or the capital stock of its Subsidiaries, or contracts,
commitments, understandings or arrangements by which the Company or its Subsidiaries is or may become bound to issue additional Common Shares, any Preferred Shares or other securities of the Company or capital stock of its Subsidiaries. All of the
outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid and non-assessable, have been issued in compliance with all 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. 

(i) 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, since July 29, 2020 (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, 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 (or any predecessor entity thereof) 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 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 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. 

 (j) Company Not Ineligible Issuer. At the time of filing the
Registration Statement and any post-effective amendment thereto, at the earliest time thereafter that the Company or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Securities Act) of the Purchased
Shares and at the date hereof, the Company was not and is not an “ineligible issuer,” as defined in Rules 164, 405, and 433 under the Securities Act (without taking account of any determination by the Commission pursuant to Rule 405 that
it is not necessary that the Company be considered an ineligible issuer). Any free writing prospectus that the Company is required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with the Commission in accordance
with the requirements of the Securities Act and the applicable rules and regulations of the Commission thereunder. Each free writing prospectus that the Company has filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or
that was prepared by or on behalf of or used or referred to by the Company complies or will comply, as of the date of such filing, in all material respects with the applicable requirements of the Securities Act and the applicable rules and
regulations of the Commission thereunder. 
 (k) Material Changes; Undisclosed Events, Liabilities or Developments.
Since the date of the latest audited financial statements included within the SEC Reports, (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 material 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 equity incentive plans. Except for the issuance of the Purchased 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 a Subsidiary or their respective businesses, prospects, 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 prior to the date that this representation is made. 

(l) 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 this Agreement or the issuance and sale of the Purchased 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 not pending or contemplated, any investigation by
the Commission involving the Company or any current or former director or officer of the Company. 
 (m) Compliance.
Upon the execution and delivery by the Company of, and the performance by the Company of its obligations under, this Agreement, neither the Company nor any Subsidiary will be: (i) in default under or in violation of (and no event has occurred
that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or a Subsidiary under) any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it
or any of its properties is bound (whether or not such default or violation has been waived), (ii) in violation of any judgment, decree or order of any court, arbitrator or other governmental authority or (iii) in violation of any statute,
rule, ordinance, regulation or guidance of any governmental authority, including without limitation all foreign, federal, state and local laws relating to taxes, environmental protection, occupational health and safety, product quality and safety
and employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect. 

(n) Accountants. Deloitte and Touche LLP, whose report on the consolidated financial statements of the Company is filed
with the Commission as part of the Company’s most recent annual report on Form 10-K filed with the Commission and incorporated by reference in the Registration Statement and the Prospectus Supplement, is
(i) an independent registered public accounting firm as required by the Securities Act, the Exchange Act and the rules of the Public Company Accounting Oversight Board (United States) (the “PCAOB”), (ii) in compliance with the
applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X under the Securities Act and (iii) a registered public
accounting firm as defined by the PCAOB whose registration has not been suspended or revoked and who has not requested such registration to be withdrawn. 

(o) Investment Company. The Company is not, and after giving effect to the offering and sale of the Purchased Shares and
the application of the proceeds thereof as described in the Prospectus Supplement will not be, required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

(p) Certain Environmental Matters. The Company and each of its Subsidiaries (i) are in compliance with any and all
applicable foreign, federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”),
(ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses and (iii) are in compliance with all terms and conditions of any such permit, license or
approval, except where such noncompliance with Environmental Laws, failure to receive required permits, licenses or other approvals or failure to comply with the terms and conditions of such 

 
permits, licenses or approvals would not, singly or in the aggregate, reasonably be expected to have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole. There are no
costs or liabilities associated with Environmental Laws (including, without limitation, any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws
or any permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties) which would, singly or in the aggregate, reasonably be expected to have a Material Adverse Effect on the Company and
its Subsidiaries, taken as a whole. 
 (q) Registration Rights. There are no contracts, agreements or understandings
between the Company and any Person granting such Person the right to require the Company to file a registration statement under the Securities Act with respect to any securities of the Company or to require the Company to include such securities
with the Purchased Shares registered pursuant to the Registration Statement, except as otherwise have been validly waived in connection with the issuance and sale of the Purchased Shares contemplated hereby and as described in the Registration
Statement and the Prospectus Supplement. 
 (r) Foreign Corrupt Practices. (i) None of the Company or any of its
Subsidiaries or controlled Affiliates, or any director or officer or, to the Company’s knowledge, any employee, agent, non-controlled affiliates or representative of the Company or of any of its
Subsidiaries or controlled Affiliates, has taken or will take any action in furtherance of an offer, payment, promise to pay, or authorization or approval of the payment, giving or receipt of money, property, gifts or anything else of value,
directly or indirectly, to any government official (including any officer or employee of a government or government-owned or controlled entity or of a public international organization, or any Person acting in an official capacity for or on behalf
of any of the foregoing, or any political party or party official or candidate for political office) (“Government Official”) in order to influence official action, or to any Person in violation of any applicable anti-corruption
laws; (ii) the Company and each of its Subsidiaries and controlled Affiliates have conducted their businesses in compliance with applicable anti-corruption laws and have instituted and maintained and will continue to maintain policies and
procedures reasonably designed to promote and achieve compliance with such laws and with the representations and warranties contained herein; and (iii) neither the Company nor any of its Subsidiaries will use, directly or indirectly, the
proceeds of the offering in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any applicable anti-corruption laws. 

(s) Money Laundering. The operations of the Company and each of its Subsidiaries are and have been conducted at all
times in material compliance with all applicable financial recordkeeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to
Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), and the applicable anti-money laundering statutes of jurisdictions where the Company and each of its Subsidiaries conduct business, the rules and regulations thereunder and any related
or similar rules, regulations or guidelines, issued, administered 

 
or enforced by any governmental agency (collectively, the “Anti-Money Laundering Laws”), and no Action, suit or Proceeding by or before any court or governmental agency,
authority or body or any arbitrator involving the Company or any of its Subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

(t) Sanctions. 

(i) None of the Company, any of its Subsidiaries, or any director or officer thereof, or, to the Company’s knowledge, any
employee, agent, Affiliate or representative of the Company or any of its Subsidiaries, is an individual or entity that is, or is owned or controlled by one or more Persons that are: 

a. the subject of any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets
Control, the United Nations Security Council, the European Union, Her Majesty’s Treasury, or other relevant sanctions authority (collectively, “Sanctions”), or 

b. located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation,
Crimea, Cuba, Iran, North Korea and Syria). 
 (ii) The Company will not, directly or indirectly, use the proceeds of the
offering, or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or other Person: 

a. to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of
such funding or facilitation, is the subject of Sanctions; or 
 b. in any other manner that will result in a violation of
Sanctions by any Person (including any Person participating in the offering, whether as underwriter, advisor, investor or otherwise). 

(iii) The Company and each of its Subsidiaries have not knowingly engaged in, are not now knowingly engaged in, and will not
engage in, any dealings or transactions with any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions. 

(u) Title to Real and Personal Property. The Company and its Subsidiaries do not own any real property. The Company and
its Subsidiaries have good and marketable title to all personal property (other than intellectual property which is addressed exclusively in Section 3.1(v) below) owned by them which is material to the business of the
Company and its Subsidiaries, in each case free and clear of all liens, encumbrances and defects except such as are described in the Registration Statement and the Prospectus Supplement or such as do not materially affect the value of such property
and do not materially interfere with the use made and proposed to be made of such property by the Company and its Subsidiaries; and any real property and buildings held under lease by the Company and its Subsidiaries are held by them under valid,
subsisting and enforceable leases with such 

 
exceptions as are not material and would not reasonably be expected to materially interfere with the use made and proposed to be made of such property and buildings by the Company and its
Subsidiaries, in each case except as described in the Registration Statement and the Prospectus Supplement. 
 (v) Title
to Intellectual Property. (i) To the Company’s knowledge, the Company and its Subsidiaries own or have a valid license to all patents, inventions, copyrights, know how (including trade secrets and other unpatented and/or unpatentable
proprietary or confidential information, systems or procedures), trademarks, service marks and trade names (collectively, “Intellectual Property Rights”) (a) described in the Registration Statement and the Prospectus Supplement as
being owned by or licensed to the Company or its Subsidiaries, or (b) to the Company’s knowledge, used in or reasonably necessary to the conduct of their businesses; (ii) the Intellectual Property Rights owned by the Company and its
Subsidiaries and, to the Company’s knowledge, the Intellectual Property Rights licensed to the Company and its Subsidiaries, are free and clear of all liens, security interests, or encumbrances, and no Action, suit, claim or other proceeding is
pending or, to the knowledge of the Company, is threatened, challenging the Company’s rights in or to any such Intellectual Property Rights; (iii) to the Company’s knowledge, the issued patents described in the Registration Statement
and the Prospectus Supplement as being owned by or licensed to the Company and its Subsidiaries, are valid, subsisting and enforceable, and there is no material pending or, to the Company’s knowledge, threatened Action, suit, Proceeding or
claim by others challenging the validity, scope or enforceability of any such Intellectual Property Rights; (iv) neither the Company nor any of its subsidiaries has received any written notice alleging any material infringement,
misappropriation or other violation of Intellectual Property Rights; (v) to the Company’s knowledge, no third party is infringing, misappropriating or otherwise violating, or has infringed, misappropriated or otherwise violated, any
Intellectual Property Rights owned or licensed by the Company; (vi) to the Company’s knowledge, neither the Company nor any of its Subsidiaries infringes, misappropriates or otherwise violates, or has infringed, misappropriated or
otherwise violated, any Intellectual Property Rights; (vii) all patents and patent applications owned by or licensed to the Company or under which the Company has rights have, to the knowledge of the Company, been duly and properly filed and
maintained; to the knowledge of the Company, there are no material defects in any of the patents or patent applications disclosed in the Registration Statement and the Prospectus Supplement as being owned or licensed by the Company and its
Subsidiaries; (viii) the Company is not aware of any facts required to be disclosed to the USPTO that were not disclosed to the USPTO and which would preclude the grant of a patent in connection with any such application or could form the basis
of a finding of invalidity or unenforceability with respect to any patents that have issued with respect to such applications; (ix) other than as disclosed in the Registration Statement and the Prospectus Supplement, neither the Company nor its
Subsidiaries is obligated to pay a royalty, grant a license or option, or provide other consideration to any third party in connection with the Intellectual Property Rights owned or licensed by the Company and its Subsidiaries, and the Company and
its Subsidiaries have complied with the terms of each agreement pursuant to which Intellectual Property Rights have been licensed to the Company or any Subsidiary, and all such agreements are in full force and effect, except as would not be
expected, individually or in 

 
the aggregate, to have a Material Adverse Effect; (x) all employees or contractors engaged in the development of Intellectual Property Rights on behalf of the Company or any Subsidiary of
the Company have executed an invention assignment agreement whereby such employees or contractors presently assign all of their right, title and interest in and to such Intellectual Property Rights to the Company or the applicable Subsidiary, and to
the Company’s knowledge no such agreement has been breached or violated; and (xi) to the Company’s knowledge, the Company and its Subsidiaries use, and have used, commercially reasonable efforts to appropriately maintain all
information intended to be maintained as a trade secret. 
 (w) Software. (i) The Company and its Subsidiaries
use and have used any and all software and other materials distributed under a “free,” “open source,” or similar licensing model (“Open Source Software”) in compliance with all license terms applicable to such
Open Source Software; and (ii) neither the Company nor any of its Subsidiaries uses or distributes or has used or distributed any Open Source Software in any manner that requires or has required (A) the Company or any of its Subsidiaries
to permit reverse engineering of any software code or other technology owned by the Company or any of its Subsidiaries or (B) any software code or other technology owned by the Company or any of its Subsidiaries to be (1) disclosed or
distributed in source code form, (2) licensed for the purpose of making derivative works or (3) redistributed at no charge. 

(x) Data Security. (i) The Company and each of its Subsidiaries have complied in all material respects and are
presently in material compliance with all internal privacy policies, contractual obligations, applicable laws or statutes, and judgments, orders, rules and regulations of any court or arbitrator or other governmental or regulatory authority, in each
case, relating to the collection, use, transfer, import, export, storage, protection, disposal and disclosure by the Company or any of its Subsidiaries of personally identifiable or other regulated data (“Data Security Obligations”,
and such data, “Data”); (ii) the Company has not received any written notification of or complaint regarding material non-compliance with any Data Security Obligation; and (iii) of there
is no Action, suit or Proceeding by or before any court or governmental agency, authority or body pending or, to the Company’s knowledge, threatened alleging non-compliance with any Data Security
Obligation. 
 (y) Data Controls. The Company and each of its Subsidiaries have implemented appropriate controls,
policies, procedures and technological safeguards to maintain and protect the information technology systems and Data used in connection with the operation of the Company’s and its Subsidiaries’ businesses. Without limiting the foregoing,
the Company and its Subsidiaries have used reasonable efforts to implement appropriate controls, policies, procedures, and technological safeguards to establish and maintain reasonable data protection controls, policies and procedures that are
designed to protect against and prevent breach, destruction, loss, unauthorized distribution, use, access, disablement, misappropriation or modification, or other compromise or misuse of any Data used in connection with the operation of the
Company’s and its Subsidiaries’ businesses (“Breach”). To the Company’s knowledge, there has been no material Breach, and the Company and its Subsidiaries have not been notified of and have no knowledge of any event
or condition that would reasonably be expected to result in, any such material Breach. 

 (z) Absence of Labor Disputes. No material labor dispute with the
employees of the Company or any of its Subsidiaries exists, or, to the knowledge of the Company, is imminent; and the Company is not aware of any existing, threatened or imminent labor disturbance by the employees of any of its principal suppliers,
manufacturers or contractors that would, singly or in the aggregate, have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole. 

(aa) Compliance with ERISA. Except as would not reasonably be expected, individually or in the aggregate, to result in a
Material Adverse Effect on the Company and its Subsidiaries, taken as a whole: (i) any “employee benefit plan” (within the meaning of Section 3(3) of the Employee Retirement Income Security Act of 1974, as amended, and the
regulations and published interpretations thereunder (collectively, “ERISA”)) established or maintained by the Company, its Subsidiaries or their respective ERISA Affiliates (as defined below) or as to which the Company and any of
its Subsidiaries have any liability (an “Employee Benefit Plan”) is and has been operated in compliance with its terms and all applicable laws, including ERISA and the Internal Revenue Code of 1986, as amended (the
“Code”); (ii) no “reportable event” (as defined under ERISA) has occurred or is reasonably expected to occur with respect to any Employee Benefit Plan; (iii) no failure to satisfy the minimum funding standards (within
the meaning of Section 412 of the Code or Section 302 of ERISA), whether or not waived, has occurred or is reasonably expected to occur with respect to any Employee Benefit Plan; (iv) the fair market value of the assets under each
Employee Benefit Plan (excluding, for these purposes, accrued but unpaid contributions) exceeds the present value of all benefits accrued under such Employee Benefit Plan (determined based on those assumptions most recently used to fund such
Employee Benefit Plan); (v) neither the Company, its Subsidiaries nor any of their ERISA Affiliates has incurred or reasonably expects to incur any liability under (x) Title IV of ERISA with respect to termination of, or withdrawal from, any
Employee Benefit Plan, (y) Sections 412, 430, 4971, 4975 or 4980B of the Code or (z) Sections 302, 303, 406, 4063 or 4064 of ERISA; (f) each Employee Benefit Plan that is intended to be qualified under Section 401(a) of the Code
is so qualified and, to the knowledge of the Company, nothing has occurred, whether by action or failure to act, which would reasonably be expected to cause the loss of such qualification; (vi) there is no pending audit or investigation by the
Internal Revenue Service, the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any other governmental or other regulatory entity or agency with respect to any Employee Benefit Plan; and (vii) neither the Company nor any of
its Subsidiaries has any “accumulated post-retirement benefit obligations” (within the meaning of Statement of Financial Accounting Standards 106). For the purposes of this Section, “ERISA Affiliate” means, with respect to the
Company or any of its Subsidiaries, any Person or trade or business treated together with the Company or any of its Subsidiaries as a single employer under Sections 414(b), (c), (m) or (o) of the Code or under common control for purposes of
Title IV of ERISA. 

 (bb) Insurance. The Company and each of its Subsidiaries are insured
by insurers of recognized financial responsibility against such losses and risks and in such amounts as in the Company’s reasonable judgement are prudent and customary in the businesses in which they are engaged; neither the Company nor any of
its Subsidiaries has been refused any insurance coverage sought or applied for; and neither the Company nor any of its Subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not reasonably be expected to have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole. 

(cc) Licenses and Permits. The Company and each of its Subsidiaries possess all certificates, authorizations and permits
issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct their respective businesses, as currently conducted, and neither the Company nor any of its Subsidiaries has received any written notice of Proceedings
relating to the revocation or modification of any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would reasonably be expected to have a Material Adverse
Effect on the Company and its Subsidiaries, taken as a whole. 
 (dd) GAAP Compliance. The financial statements
included or incorporated by reference in the Registration Statement and the Prospectus Supplement, together with the related schedules and notes thereto, comply as to form in all material respects with the applicable accounting requirements of the
Securities Act and present fairly in all material respects the consolidated financial position of the Company and its Subsidiaries as of the dates shown and its results of operations and cash flows for the periods shown, and such financial
statements have been prepared in conformity with GAAP applied on a consistent basis throughout the periods covered thereby except for any normal year-end adjustments in the Company’s quarterly financial
statements. The other financial information included or incorporated by reference in the Registration Statement and the Prospectus Supplement has been derived from the accounting records of the Company and its consolidated Subsidiaries and presents
fairly in all material respects the information shown thereby. The statistical, industry-related and market-related data included or incorporated by reference in the Registration Statement and the Prospectus Supplement are based on or derived from
sources which the Company reasonably and in good faith believes are reliable and accurate and such data is consistent with the sources from which they are derived, in each case in all material respects. 

(ee) Internal Accounting Controls. The Company and each of its Subsidiaries, taken as a whole, maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit
preparation of financial statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded
accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. Since the end of the Company’s most recent audited fiscal year, there has been (i) no
material weakness in the Company’s internal control over financial reporting (whether or not remediated) and (ii) no change in the Company’s internal control over financial reporting that has materially and adversely affected, or is
reasonably likely to materially and adversely affect, the Company’s internal control over financial reporting. 

 (ff) Disclosure Controls and Procedures. The Company and its
Subsidiaries maintain an effective system of “disclosure controls and procedures” (as defined in Rule 13a-15(e) of the Exchange Act) that complies with the requirements of the Exchange Act and that
has been designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the
Commission’s rules and forms, including controls and procedures designed to ensure that such information is accumulated and communicated to the Company’s management as appropriate to allow timely decisions regarding required disclosure.
The Company and its Subsidiaries have carried out evaluations of the effectiveness of their disclosure controls and procedures as required by Rule 13a-15 of the Exchange Act. 

(gg) Sarbanes-Oxley. There is and has been no failure on the part of the Company or, to the knowledge of the Company,
any of the Company’s directors or officers, in their capacities as such, to comply with any provision of the Sarbanes-Oxley Act of 2002, as amended and the rules and regulations promulgated in connection therewith (the “Sarbanes-Oxley
Act”), including Section 402 related to loans and Sections 302 and 906 related to certifications. 
 (hh)
FDA Compliance. The Company and its Subsidiaries, since July 1, 2019: (i) have not received any FDA Form 483, written notice of adverse finding, warning letter, untitled letter or other written correspondence or notice from the FDA or
any other similar federal, state, local or foreign governmental or regulatory authority alleging or asserting material noncompliance with any Health Care Laws (defined below) or any licenses, certificates, approvals, clearances, authorizations,
exemptions, permits and supplements or amendments thereto required by any Health Care Laws to conduct the Company’s business as described in Prospectus Supplement (“Authorizations”); (ii) possess all applicable Authorizations
and such Authorizations are valid and in full force and effect and neither the Company nor its Subsidiaries is in violation of any such Authorizations except where such violation would not, singly or in the aggregate, have a Material Adverse Effect;
(iii) have not received written notice of any pending or completed claim, Action, suit, Proceeding, hearing, enforcement, investigation, arbitration or other Action from the FDA or any other federal, state, local or foreign governmental or
regulatory authority or third party alleging that any product candidate operation or activity is in material violation of any Health Care Laws or Authorizations and the Company has no knowledge that the FDA or any other federal, state, local or
foreign governmental or regulatory authority or third party is considering any such claim, litigation, arbitration, Action, suit, investigation or Proceeding; (iv) have not received written notice that the FDA or any other federal, state, local
or foreign governmental or regulatory authority has taken, is taking or intends to take Action to limit, suspend, materially modify or revoke any material Authorizations and has no knowledge that the FDA or any other federal, state, local or foreign
governmental or regulatory authority is considering such Action; and (v) have filed, obtained, maintained or submitted all material reports, documents, forms, notices, applications, records, claims,

 
submissions and supplements or amendments as required by any Health Care Laws or Authorizations and all such reports, documents, forms, notices, applications, records, claims, submissions and
supplements or amendments were materially complete and correct on the date filed (or were corrected or supplemented by a subsequent submission). 

(ii) Studies, Tests and Preclinical and Clinical Trials. The preclinical studies and tests and clinical studies that
have been or are being conducted or sponsored by or on behalf of the Company or in which the Company’s product candidates participated (collectively, “Studies”) were, and, if still pending, are being conducted in all material
respects in accordance with all Health Care Laws and Authorizations, including, without limitation, 21 C.F.R. Parts 50, 54, 56, 58, and 312. The descriptions of the Studies, and the results thereof, contained in the Registration Statement and the
Prospectus Supplement are accurate and complete in all material respects. The Company is not aware of any studies or tests, the results of which are materially inconsistent with the study or test results described or referred to in the Registration
Statement when viewed in the context in which such results are described and the clinical state of development. The Company has not received any written notices or correspondence from the FDA or any other federal, state, local or foreign
governmental or regulatory authority requiring the termination, suspension or material modification of any preclinical studies or tests or clinical studies conducted by or on behalf of or sponsored by the Company or in which the Company’s
product candidates participated. 
 (jj) Compliance with Healthcare Laws. Except as described in the Registration
Statement and the Prospectus Supplement, the Company and its Subsidiaries are and have since July 1, 2019 operated in material compliance with all applicable health care laws, including, (i) the Federal Food, Drug, and Cosmetic Act (21
U.S.C. §§ 301 et seq.) and the Public Health Service Act (42 U.S.C. §§ 201 et seq.); (ii) applicable federal, state, local and foreign health care related fraud and abuse laws, including, the federal health care Anti-kickback
Statute (42 U.S.C. § 1320a-7b(b)), the civil False Claims Act (31 U.S.C. §§ 3729 et seq.), criminal false claims provisions including 42 U.S.C. §
1320a-7b(a)), 18 U.S.C. §§ 286 and 287, the health care fraud criminal provisions under the U.S. Health Insurance Portability and Accountability Act of 1996 (“HIPAA”), the exclusion
law (42 U.S.C. § 1320a-7), the civil monetary penalties law (42 U.S.C. § 1320a-7a) and the Patient Protection and Affordable Care Act of 2010 (Pub. Law 111-148), as amended by the Health Care and Education Reconciliation Act of 2010 (Pub. Law 111-152) (collectively, “ACA”), including without limitation the
U.S. Physician Payments Sunshine Act (42 U.S.C. § 1320a-7h); (iii) the applicable requirements of Titles XVIII (Medicare) and Title XIX (Medicaid) of the Social Security Act; (iv) HIPAA, as amended
by the Health Information Technology for Economic and Clinical Health Act (42 U.S.C. §§ 1320d et seq., 42 U.S.C. §§ 17921 et seq.); (v) the regulations promulgated pursuant to all such laws; and (vi) other similar local,
state, federal, or foreign laws and regulations applicable to the Company’s business (collectively, the “Health Care Laws”). Since July 1, 2019, neither the Company nor its Subsidiaries nor any of its officers, directors
or employees, nor, to the knowledge of the Company, any of its agents, have been excluded, suspended or debarred from participation in any federal health care program as defined in 42 U.S.C. § 1320a-7b(f)
(“Programs”) or human clinical research or, to the knowledge of the Company, is subject to a governmental inquiry, investigation, Proceeding, or other similar Action that could 

 
reasonably be expected to result in debarment, suspension, or exclusion from the Programs. The Company is not a party to and the Company does not have any ongoing reporting obligations pursuant
to, any corporate integrity agreements, deferred prosecution agreements, monitoring agreements, consent decrees, settlement orders, plans of correction or similar agreements with or imposed by a governmental body or agency. 

(kk) Agreements. Except as otherwise disclosed in the Registration Statement or Prospectus Supplement, neither the
Company nor any of its Subsidiaries has sent or received any communication regarding termination of, or intent not to renew, any of the contracts or agreements referred to or described in the Prospectus Supplement or any free writing prospectus, or
referred to or described in, or filed as an exhibit to, the Registration Statement, and no such termination or non-renewal has been threatened by the Company or any of its Subsidiaries or, to the
Company’s knowledge, any other party to any such contract or agreement, which threat of termination or non-renewal has not been rescinded as of the date hereof. 

(ll) Payment of Taxes. The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax
returns required to be filed through the date of this Agreement or have requested extensions thereof (except where the failure to file would not, singly or in the aggregate, have a Material Adverse Effect on the Company and its Subsidiaries, taken
as a whole) and have paid all taxes required to be paid thereon (except for cases in which the failure to file or pay would not, singly or in the aggregate, have a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole, or,
except as currently being contested in good faith and for which reserves required by GAAP have been created in the financial statements of the Company), and no tax deficiency has been determined adversely to the Company or any of its Subsidiaries
which, singly or in the aggregate, has had (nor does the Company nor any of its Subsidiaries have any notice or knowledge of any tax deficiency which could reasonably be expected to be determined adversely to the Company or its Subsidiaries and
which could reasonably be expected to have) a Material Adverse Effect on the Company and its Subsidiaries, taken as a whole. 

(mm) Listing and Maintenance Requirements. The Common Shares are registered pursuant to Section 12(b) 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 Shares under the Exchange Act nor has the Company received any notification that the
Commission is contemplating terminating such registration. The Company has not, at any time since July 29, 2020, received notice from any Trading Market on which the Common Shares is or has been listed or quoted to the effect that the Company
is not in compliance with the listing or maintenance requirements of such Trading Market. The Company is, and at all times since July 29, 2020 has been, and has no reason to believe that it will not in the foreseeable future continue to be, in
compliance with all such listing and maintenance requirements. The Common Shares are currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and the Company is current in payment of
the fees to the Depository Trust Company (or such other established clearing corporation) in connection with such electronic transfer. 

 (nn) Disclosure. Except with respect to the material terms and
conditions of the transactions contemplated by this Agreement, the Company confirms that neither it nor any other Person acting on its behalf has provided the Purchasers or its agents or counsel with any information that it believes constitutes or
might constitute material, non-public information that is not otherwise disclosed in the Prospectus Supplement or the SEC Reports. The Company understands and confirms that the Purchasers will rely on the
foregoing representation in effecting transactions in securities of the Company. All of the disclosure furnished by or on behalf of the Company to the Purchasers regarding the Company and its Subsidiaries, their respective businesses and the
transactions contemplated hereby, is true and correct and does not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under
which they were made, not misleading. The Company acknowledges and agrees that each Purchaser makes or has made no representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in
Section 3.2 hereof. 
 (oo) Acknowledgment Regarding Purchaser’s Purchase of
Securities. The Company acknowledges and agrees that each Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the transactions contemplated hereby. The Company further acknowledges that
each Purchaser is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice given by such Purchaser or any of their respective
representatives or agents in connection with this Agreement and the transactions contemplated hereby is merely incidental to each Purchaser’s purchase of the Purchased Shares. The Company further represents to the Purchasers that the
Company’s decision to enter into this Agreement has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives. 

(pp) Regulation M Compliance. The Company has not, and to its knowledge no one acting on its behalf has taken,
directly or indirectly, any action designed to cause or to result in the stabilization or manipulation of the price of any security of the Company in a violation of Regulation M under the Exchange Act. 

3.2 Representations and Warranties of the Purchasers. Each Purchaser, for itself and for no other Purchaser, hereby
represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date): 

(a) Organization; Authority. Such Purchaser is an individual or 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
this Agreement and otherwise to carry out its obligations hereunder. The execution and delivery of this Agreement and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary
corporate partnership, limited liability company or similar action, as applicable, on the part of such 

 
Purchaser. This Agreement has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding
obligation of such 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) Understandings or Arrangements. Such Purchaser is acquiring the
Purchased Shares as principal for its own account and has no direct or indirect arrangement or understandings with any other Persons to distribute or regarding the distribution of such Purchased Shares (this representation and warranty not limiting
such Purchaser’s right to sell the Purchased Shares in compliance with applicable federal and state securities laws). 

(c) Experience of such Purchaser. Such Purchaser, either alone or together with its representatives, has such knowledge,
sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Purchased Shares, and has so evaluated the merits and risks of such investment. Such
Purchaser is able to bear the economic risk of an investment in the Purchased Shares and, at the present time, is able to afford a complete loss of such investment. 

(d) Access to Information. Such Purchaser acknowledges that it has had the opportunity to review this Agreement
(including all exhibits and schedules thereto) and the SEC Reports and has been afforded, (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms
and conditions of the offering of the Purchased Shares and the merits and risks of investing in the Purchased Shares; (ii) access to information about the Company and its financial condition, results of operations, business, properties,
management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire without unreasonable effort or expense that is necessary to
make an informed investment decision with respect to the investment. 
 (e) Certain Transactions and Confidentiality.
Other than consummating the transactions contemplated hereunder, such Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with the Purchaser, directly or indirectly executed any purchases or sales, including
Short Sales, of the securities of the Company during the period commencing as of the time that such Purchaser first received a preliminary term sheet (written or oral) from the Company or any other Person representing the Company setting forth the
proposed terms of the transactions contemplated hereunder and ending immediately prior to the execution hereof. Other than to such Purchaser’s representatives, including, without limitation, its officers, directors, partners, legal and other
advisors, employees, agents and Affiliates, such 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 the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing Common Shares in order to effect Short Sales or similar transactions in the future.

 The Company acknowledges and agrees that the representations of any Purchaser contained in this
Section 3.2 shall not modify, amend or affect such Purchaser’s right to rely on the Company’s representations and warranties contained in this Agreement or any other document or instrument executed and/or
delivered in connection with this Agreement or the consummation of the transactions contemplated hereby. 
 ARTICLE IV. 

OTHER AGREEMENTS OF THE PARTIES 

4.1 Integration. The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security
(as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Purchased Shares for purposes of the rules and regulations of any Trading Market such that it would require stockholder approval prior to the
Closing of such other transaction unless stockholder approval is obtained before the closing of such subsequent transaction. 
 4.2
Securities Laws Disclosure; Publicity. The Company shall (a) by the Disclosure Time, issue a press release disclosing the material terms of the transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including this Agreement as an exhibit thereto, with the Commission within the time required by the Exchange Act, in each case in the form mutually agreed to by the Company and the Purchasers. At any time up to
the Closing Date, the Company and each Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the Company nor such Purchaser shall issue any such press release
nor otherwise make any such public statement without the prior consent of the Company, with respect to any press release of such Purchaser, or without the prior consent of each Purchasers, with respect to any press release of the Company which
directly names such Purchaser, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party (or parties) shall promptly provide the other party (or parties) with prior
notice of such public statement or communication. 
 4.3 Use of Proceeds. The Company will use the net proceeds as described in the
Prospectus Supplement under the section entitled “Use of Proceeds.” 
 4.4 Indemnification of Purchasers. Subject to the
provisions of this Section 4.4, the Company will indemnify and hold each Purchaser and its directors, officers, shareholders, members, partners, employees and agents (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), each Person who controls such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents,
members, partners or 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 such controlling persons (each, a “Purchaser Party”)
harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any
such Purchaser Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other transaction documents or (b) any action
instituted against the Purchaser Parties in any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the
transaction documents (unless such action is based upon a material breach of such Purchaser Party’s representations, warranties or covenants under the transaction documents or any agreements or understandings such Purchaser Party may have with
any such stockholder or any violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is finally judicially determined to constitute fraud, gross negligence or willful misconduct). If any
action shall be brought against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense
thereof with counsel of its own choosing reasonably acceptable to the Purchaser Party. Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such
counsel shall be at the expense of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume such
defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the Company
shall be responsible for the reasonable and documented fees and expenses of no more than one such separate counsel. The Company will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected
without the Company’s prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party’s breach of any
of the representations, warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other transaction documents. The indemnification required by this Section 4.4 shall be made by periodic payments of the amount
thereof during the course of the investigation or defense, as and when bills are received or are incurred; provided, however, that if it is subsequently determined by a final, non-appealable judgment of a court of competent jurisdiction that a
Purchaser was not entitled to receive such periodic payments, such Purchaser shall promptly (but in no event later than five (5) Business Days) return such payments to the Company. The indemnity agreements contained herein shall be in addition to
any cause of action or similar right of any Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law. 

4.5 Listing of Common Shares. The Company hereby agrees to use commercially reasonable efforts to maintain the listing or
quotation of the Common Shares on the Trading Market on which it is currently listed. 
 4.6
Non-Public Information. Except with respect to the material terms and conditions of the transactions contemplated by this Agreement, the Company covenants and agrees that neither it, nor any other
Person acting on its behalf will provide any Purchaser or its agents or counsel with any information that constitutes, or the Company reasonably believes constitutes, material non-public information, unless
prior thereto such Purchaser shall have consented to the receipt of such information and agreed with the Company to keep such information confidential. 

 
To the extent that the Company, any of its Subsidiaries, or any of their respective officers, directors, agents, employees or Affiliates delivers any material,
non-public information to a Purchaser without such Purchaser’s consent or to the extent the Company fails to publicly disclose any material, non-public information,
the Company hereby acknowledges and agrees that such Purchaser shall not have any duty of trust of confidence to the Company, any of its Subsidiaries, or any of their respective officers, directors, agents, employees or Affiliates, or a duty to the
Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates not to trade in any securities of the Company while aware of, such material, non-public
information. The Company understands and confirms that each Purchaser shall be relying on the foregoing covenants in effecting transactions in securities of the Company. 

4.7 Resale Registration Statement. Within three (3) months following the Closing, the Company shall prepare and file with the
Commission a registration statement covering the resale of the Registrable Securities held by the Purchasers that are a party to the Investors’ Rights Agreement for an offering to be made on a continuous basis and shall use best efforts to
cause such registration statement to be declared effective, subject to and pursuant to the Investors’ Rights Agreement. 
 ARTICLE V.

 MISCELLANEOUS 
 5.1
Termination. This Agreement may be terminated by any Purchaser, as to such Purchaser’s obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the
other parties, if the Closing has not been consummated on or before the fifth (5th) Trading Day following the date hereof; provided, however, that no such termination will affect the right of any party to sue for any breach by any other party (or
parties). 
 5.2 Fees and Expenses. At the Closing, the Company shall reimburse the Purchasers for all reasonable and documented out-of-pocket fees and expenses, including without limitation with respect to Purchaser’s advisors, legal counsel, accountants and other experts, if any, and all other
reasonable and documented expenses incurred by them incident to the negotiation, preparation, and execution, of this Agreement and the transactions contemplated hereby. The Company shall pay all Transfer Agent fees, stamp taxes and other taxes and
duties levied in connection with the delivery of the Purchased Shares to the Purchasers.  
 5.3 Entire Agreement. This
Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been
merged into this Agreement. 
 5.4 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 time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the email
address as set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such notice or communication is

 
delivered via facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than
5:30 p.m. (New York City time) on any Trading Day, (c) the second (2nd) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service 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 set forth on the signature pages attached hereto. To the extent that any notice provided pursuant to
this Agreement constitutes, or contains, material, non-public information regarding the Company or its Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current
Report on Form 8-K. 
 5.5 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 Purchasers, 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. Any amendment effected in accordance with this Section 5.5 shall be binding upon the Purchasers and the
Company. 
 5.6 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. 
 5.7 Successors and Assigns. This Agreement shall be binding upon and inure
to the benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger). Any Purchaser may
assign any or all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Purchased Shares, provided that such transferee agrees in writing to be bound, with respect to the transferred Purchased Shares, by
the provisions of the Agreement that apply to the “Purchasers.” 
 5.8 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. 

5.9 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be
governed by and construed and enforced in accordance with the laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal Proceedings concerning the interpretations, enforcement and
defense of the transactions contemplated by this Agreement (whether brought against a party hereto or its respective Affiliates, directors, officers, 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 this Agreement), and hereby irrevocably waives, and agrees not to assert in any Action
or 

 
Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such 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 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 any party shall commence an Action or Proceeding to enforce any provisions of this Agreement, then the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding. 

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. In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

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 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages,
each of the Purchasers and the Company will be entitled to specific performance under this Agreement. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations contained in
this Agreement and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would be adequate. 

5.13 Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the
expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day. 

 5.14 Construction. The parties agree that each of them and/or their respective
counsel have reviewed and had an opportunity to revise this Agreement 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
this Agreement or any amendments thereto. In addition, each and every reference to share prices and Common Shares in this Agreement shall be subject to adjustment for reverse and forward stock splits, stock dividends, stock combinations and other
similar transactions of the Common Shares that occur after the date of this Agreement. 
 5.15 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.  
 (Signature Pages Follow) 

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

Address for Notice: 
  

			
		
	By:	 	 
		 	 Name:
 Title:

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