Document:

AMENDMENT TO LOAN AGREEMENTS

 

Parties: The undersigned is Com2000, Inc., the Borrower, and the
Lender is Victor Tong.

 

Loan Agreements to be amended: Dated March 31, June 30, and December 31,
2021 in the amounts of $26,600, $30,000, $57,500, respectively.

 

The undersigned hereby agreed to extend the maturity dates and term of
the loans to:

	Promise to Pay: January 1, 2023.

Replacing:

	Promise to Pay: On the earliest of January 1 or within 1 month from
from the date that the Borrower will go public (the SEC declares the Com2000 S-1 registration statement effective).

 

All other terms of the respective loan agreements shall remain the same.

 

 

Agreed:
Jan 28, 2022

 

 

	Lender	 	Borrower	 
	 	 	 	 
	/s/ Victor Tong	 	/s/ Jacob Lakhany	 
	Victor Tong	 	Jacob Lakhany, CEOAMENDMENT TO LOAN AGREEMENTS

 

Parties: The undersigned is Com2000, Inc., the Borrower, and the
Lender is Webplus, Inc..

 

Loan Agreements to be amended: Dated June 30, and December 31, 2021 in
the amounts of $4,000, $2,000, respectively.

 

The undersigned hereby agreed to extend the maturity dates and term of
the loans to:

	Promise to Pay: January 1, 2023.

Replacing:

	Promise to Pay: On the earliest of January 1 or within 1 month from
from the date that the Borrower will go public (the SEC declares the Com2000 S-1 registration statement effective).

 

All other terms of the respective loan agreements shall remain the same.

 

 

Agreed:
Jan 28, 2022

 

 

	Lender	 	Borrower	 
	 	 	 	 
	/s/ Jacob Lakhany	 	/s/ Victor Tong	 
	Webplus, Inc.	 	Victor Tong, DirectorDocument

Ex 10.1

Lam Research Corporation
Non-Employee Director Compensation Program
Effective November 8, 2021

						
	Objective	To target and pay the non-employee members of the board of directors (the “Board”) of Lam Research Corporation (the “Company”) at the median of the Company’s peer group, as measured every other year.

	Annual Cash Retainers	For service as a director beginning with calendar year 2022, directors shall receive the following annual cash retainers, as applicable, subject to revisions for future years as described herein:
•Board Member:  $87,500
•Non-Executive Board Chair:  $150,000 (supplemental cash)
•Committee Chair:
•Audit:  $35,000
•Compensation and Human Resources:  $30,000
•Nominating and Governance:  $20,000
•Committee Member:
•Audit:  $15,000
•Compensation and Human Resources:  $10,000
•Nominating and Governance:  $10,000
•The annual retainers for a director’s service during a calendar year shall be paid in a lump sum in February of the calendar year following the director’s election at the annual meeting of stockholders (the “Annual Meeting”).

	Annual Equity Award	For service as a director beginning with calendar year 2022, directors shall receive the following annual equity award, subject to revision for future years as described herein:
•Target Award Value:  Restricted stock units (“RSUs”) with a target award value of $215,000.

	Program Adjustments	•Non-employee director compensation shall be compared to the Company’s peer group annually and the results of such comparison shall be provided to the Compensation and Human Resources Committee (the “Committee”) in connection with its regular August meeting.
•Every other year, beginning in 2023, if such comparison shows any element of non-employee director compensation to be below the 50th percentile when compared to the Company’s peer group, such element shall be automatically increased, effective on the date of the next annual meeting of stockholders for service in the following calendar year (e.g. if an adjustment is made in connection with the August 2023 Committee meeting, then such adjustment shall be effective on the date of the annual stockholder meeting in November 2023 for service in calendar 2024) and without the necessity of any further action on the part of the Committee or the Board, to a value equal, as nearly as practicable, to the 50th percentile.
•The Committee will have the option at any time to recommend that the Board exercise, and the Board will have the right at any time to exercise, negative discretion to reduce any element of non-employee director compensation.
•This non-executive director compensation program may be modified, replaced, superseded or cancelled at any time by the Board.

						
	Equity Award Terms	•Annual equity awards are subject to the terms and conditions of the Company’s 2015 Stock Incentive Plan, as amended (the “2015 Plan”), and the applicable award agreements. 
•The grant date shall be the first Friday following the annual meeting of stockholders.
•Target award value will be converted to a number of RSUs by dividing the award value by the 30-day average of the closing price of the Company’s common stock prior to the grant date, rounded down to the nearest whole share.
•Equity awards shall vest Oct 31st in the year following the grant date; provided, however, that awards shall immediately vest in full: (1) if a non-employee director dies or becomes subject to a “disability” (as determined pursuant to the 2015 Plan), (2) upon the occurrence of a “Corporate Transaction” (as defined in the 2015 Plan), or (3) on the date of the annual meeting, if the annual meeting during the year in which the award was expected to vest occurs prior to the vest date and the non-employee director is not re-elected or retires or resigns effective immediately prior to the annual meeting.

	Proration Rules	•Non-employee directors who join the Board or a committee mid-year shall receive pro-rated cash retainers, as applicable, based on the number of regularly scheduled quarterly Board meetings remaining in the year as of the effective date and time of the director’s appointment; provided, however, that a director who changes committees mid-year will be entitled to additional pro-rated cash compensation only if the new committee assignment carries a higher retainer. Pro-rated cash payments will be made as soon as administratively practical after the first regularly scheduled quarterly Board meeting attended.
•Non-employee directors who join the Board after the annual RSU award has been granted shall receive, on the first Friday following the first regularly scheduled quarterly Board meeting attended, a pro-rated award based on the number of regularly scheduled quarterly Board meetings remaining in the year as of the effective date and time of the director’s appointment. The pro-rated awards shall be subject to the same vesting schedule, terms and conditions as the annual equity awards, except that if the award is granted on the first Friday following the regularly scheduled quarterly November Board meeting, the award vests immediately.Exhibit 10.1

 

SECURITIES PURCHASE AGREEMENT

 

This SECURITIES PURCHASE
AGREEMENT (the “Agreement”), dated as of September 1, 2021 (the “Execution Date”), between Mullen
Technologies, Inc., a California corporation (the “Company”), and the investor signatory hereto (“Buyer”).

 

RECITALS

 

A.            The
Company and Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration afforded by
Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and Rule 506 of Regulation D (“Regulation D”)
as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the Securities Act.

 

B.            Buyer
wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, shares of the Company’s
Common Stock in the amounts set forth herein. “Purchase Shares” means all or a portion of the total number of shares
of Common Stock to be sold and purchased hereunder.

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the premises and the mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the Company and Buyer hereby agree as follows:

 

		1.	COMMITMENT FOR THE PURCHASE AND SALE OF COMMON STOCK.

 

(a)           Purchase Shares. Subject to the satisfaction (or waiver) of the conditions set forth in Sections 6 and 7 below, the Company
shall issue and sell to Buyer, and Buyer shall purchase from the Company on the applicable Closing Date (as defined below) the number
of Purchase Shares as set forth on the Buyer Schedule.

 

(b)           Closing.
The aforementioned sales and purchases shall be scheduled as follows: the initial sale and purchase of Purchase Shares (the “Initial
Closing”) shall occur on the first (1st) Business Day on which the closing conditions set forth in Sections 6 and 7 below have
been satisfied or waived (or such later date as is mutually agreed to by the Company and Buyer); and each of the additional sales and
purchases of Purchase Shares (each, together with the Initial Closing, a “Closing” and each such date of a Closing
being, a “Closing Date”) shall occur, provided that the closing conditions set forth in Sections 6 and 7 below have
been satisfied or waived, on or before the dates set forth on the Buyer Schedule.

 

(c)           Payment of Closing Payment; Delivery of Securities. Each payment by Buyer for the Purchase Shares in accordance with the
terms of this Agreement shall be referred to as a “Closing Payment”. On each Closing Date, (i) Buyer shall pay the
applicable Closing Payment to the Company by wire transfer of immediately available funds in accordance with the Company’s written
wire instructions and (ii) the Company shall issue to Buyer the applicable Purchase Shares for such respective Closing, in all cases,
duly executed on behalf of the Company and registered in the name of Buyer or its designee.

 

     

     

    

 

(d)           Adjustment to Number of Purchase Shares. Subject to the limitations set forth in Section 1(e), the total number of shares
of Common Stock to be issued to Buyer in connection with the applicable Closing shall be adjusted on the Business Day immediately following
the applicable Pricing Period (each, an “Adjustment Date”) and issued within one (1) Trading Day after such applicable
Adjustment Date, as follows: (i) if the number of VWAP Shares exceeds the number of Purchase Shares initially issued on the applicable
Closing Date, then the Company will issue and deliver to Buyer in the same manner as described in Section 1(c) additional shares of Common
Stock equal to the difference between (A) the total number of VWAP Shares and (B) the number of Purchase Shares initially issued pursuant
to such Closing, and (ii) if the number of VWAP Shares is less than the number of Purchase Shares initially issued on the applicable
Closing Date, then the Company will credit toward its obligation to delivery shares of Common Stock at any subsequent Closing that number
of shares of Common Stock equal to the difference between (X) the number of Purchase Shares issued pursuant to such Closing and (Y) the
total number of VWAP Shares; provided, however, that if no subsequent closing is envisioned by this Agreement then Buyer will return
such shares of Common Stock to the Company for cancellation. All such determinations in accordance with this Section 1(d) will be appropriately
adjusted for any stock split, stock dividend, reverse stock split, stock combination or other similar transaction during any such measuring
period.

 

(e)           Beneficial
Ownership Limitation. The Company shall not issue and Buyer shall not accept any Common Stock under the Transaction Documents, and
Buyer shall not otherwise purchase Common Stock or securities exercisable or exchangeable for or convertible into Common Stock from any
party, in the public market or otherwise, if such shares proposed to be sold or otherwise issued, or the Common Stock proposed to be
purchased or issuable upon exercise, exchange or conversion of the securities proposed to be purchased (after giving effect to any limitation
on exercise, exchange or conversion therein), when aggregated with all other shares of Common Stock then owned beneficially (as calculated
pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by Buyer and its affiliates, constitute more than
the Maximum Percentage of the then issued and outstanding shares of Common Stock. The number of shares of Common Stock constituting the
Maximum Percentage determination shall be appropriately adjusted for any stock dividend, stock split, reverse stock split or similar
transaction. For the avoidance of doubt, any such shares of Common Stock that are determined at any time to cause Buyer’s beneficial
ownership of Common Stock to exceed the Maximum Percentage upon issuance shall be issued to Buyer at such later time to the extent such
issuance would not cause Buyer’s beneficial ownership of Common Stock to exceed the Maximum Percentage.

 

(f)            Taxes.
The Company shall pay any and all transfer, stamp or similar taxes that may be payable with respect to the issuance and delivery of any
Securities to the Buyer made under this Agreement or the other Transaction Documents.

 

(g)           Expense
Reimbursement. On the Closing Date for the Initial Closing, the Company shall pay to Buyer in cash an expense reimbursement for legal
fees of up to Thirty-Five Thousand Dollars ($35,000); provided that, in lieu of such payment, Buyer shall be entitled to deduct such
amount from the Closing Payment paid at the Initial Closing.

 

    2 

     

    

 

		2.	BUYER’S REPRESENTATIONS AND WARRANTIES.

 

On each Closing Date, Buyer
represents and warrants to the Company, on behalf of itself, that:

 

(a)           Organization; Authority. Buyer is an entity duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization with the requisite power and authority to enter into and to consummate the transactions contemplated
by the Transaction Documents to which it is a party and otherwise to carry out its obligations hereunder and thereunder.

 

(b)           No
Public Sale or Distribution. Buyer is acquiring, or will acquire, the Purchase Shares, in each case, for its own account and not
with a view towards, or for resale in connection with, the public sale or distribution thereof in violation of applicable securities
laws, except pursuant to sales registered or exempted under the Securities Act; provided, however, by making the representations herein,
Buyer does not agree, or make any representation or warranty, to hold any of the Securities for any minimum or other specific term and
reserves the right to dispose of the Securities at any time in accordance with or pursuant to a registration statement or an exemption
under the Securities Act. Buyer does not presently have any agreement or understanding, directly or indirectly, with any Person to distribute
any of the Securities in violation of applicable securities laws.

 

(c)           Accredited
Investor Status. Buyer is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D.

 

(d)           Reliance
on Exemptions. Buyer understands that the Securities are being offered and sold to it in reliance on specific exemptions from the
registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and
accuracy of, and Buyer’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of Buyer
set forth herein in order to determine the availability of such exemptions and the eligibility of Buyer to acquire the Securities.

 

(e)           No
Governmental Review. Buyer understands that no United States federal or state agency or any other government or governmental agency
has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Securities
nor have such authorities passed upon or endorsed the merits of the offering of the Securities.

 

(f)            Transfer
or Resale. Buyer understands that: (i) the Securities have not been and are not being registered under the Securities Act or any
state securities laws, and may not be offered for sale, sold, assigned or transferred unless (A) subsequently registered thereunder,
(B) Buyer shall have delivered to the Company notice prior to assignment and (if requested by the Company) an opinion of counsel to Buyer,
in a form reasonably acceptable to the Company, to the effect that such Securities to be sold, assigned or transferred may be sold, assigned
or transferred pursuant to an exemption from such registration, or (C) Buyer provides the Company with reasonable assurance that such
Securities can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A promulgated under the Securities Act (or a successor
rule thereto) (collectively, “Rule 144”); (ii) any sale of the Securities made in reliance on Rule 144 may be made
only in accordance with the terms of Rule 144, and further, if Rule 144 is not applicable, any resale of the Securities under circumstances
in which the seller (or the Person through whom the sale is made) may be deemed to be an underwriter (as that term is defined in the
Securities Act) may require compliance with some other exemption under the Securities Act or the rules and regulations of the SEC promulgated
thereunder; and (iii) except as provided in Section 5(h) hereof, neither the Company nor any other Person is under any obligation to
register the Securities under the Securities Act or any state securities laws or to comply with the terms and conditions of any exemption
thereunder.

 

    3 

     

    

 

(g)           Validity;
Enforcement. The execution and delivery of the Transaction Documents and the consummation by Buyer of the transactions contemplated
hereby and thereby have been duly and validly authorized by all necessary action on the part of Buyer and no further consent or authorization
of Buyer or its members is required. Each Transaction Document has been duly executed by Buyer and when delivered in accordance with
terms hereof and thereof, constitutes the legal, valid and binding obligations of Buyer enforceable against Buyer in accordance with
its terms, except as such enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights
and remedies.

 

(h)           No
Conflicts. The execution, delivery and performance by Buyer of this Agreement and the consummation by Buyer of the transactions contemplated
hereby will not (i) result in a violation of the organizational documents of Buyer, (ii) conflict with, or constitute a default (or an
event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which Buyer is a party or (iii) result in a violation of any
law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to Buyer, except in the case
of clauses (ii) and (iii) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate,
reasonably be expected to have a material adverse effect on the ability of Buyer to perform its obligations hereunder.

 

(i)           
Experience of Buyer. Buyer has such knowledge, sophistication and experience in business and financial matter so as to be
capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks
of such investment. Buyer is able to bear the economic risk of an investment in the Securities and, at the present time, is able to afford
a complete loss of such investment.

 

(j)           
Foreign Corrupt Practices. Neither Buyer, nor any of its subsidiaries or affiliates, nor to the knowledge of Buyer, any
of its directors, officers, agents, employees, members or other Persons acting on behalf of Buyer or any its subsidiaries or affiliates
has, in the course of its actions for, or on behalf of, Buyer or any of its subsidiaries or affiliates (i) used any corporate funds for
any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of
any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence
payment, kickback or other unlawful payment of any foreign or domestic government official or employee.

 

(k)           General
Solicitation. Buyer is not purchasing the Securities as a result of any advertisement, article, notice or other communication regarding
the Securities published in any newspaper, magazine or similar media or broadcast over television
or radio or presented at any seminar or any other general solicitation or advertisement.

 

    4 

     

    

 

		(l)	Patriot Act Representations.

 

(i)             Buyer
represents that all evidence of identity provided is genuine and all related information furnished is accurate.

 

(ii)           
Buyer hereby acknowledges that the Company seeks to comply with all applicable anti-money laundering laws and regulations. In furtherance
of such efforts, Buyer hereby represents and agrees that: (1) no part of the funds used by Buyer to acquire the Securities have been,
or shall be, directly or indirectly derived from, or related to, any activity that may contravene federal, state, or international laws
and regulations, including anti-money laundering laws and regulations; and (ii) no payment to the Company by Buyer shall cause the Company
to be in violation of any applicable anti-money laundering laws and regulations including without limitation, the Uniting and Strengthening
America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT ACT) Act of 2001, Executive Order 13224
(2001) (the “Patriot Act”) issued by the President of the United States and the U.S. Department of the Treasury Office of
Foreign Assets Control (“OFAC”) regulations.

 

(iii)          
Buyer represents and warrants that the amounts to be paid by Buyer to the Company will not be directly or indirectly derived from
activities that may contravene federal, state or international laws and regulations, including anti-money laundering laws and regulations.
Buyer represents and warrants that, to the best of its knowledge, none of: (a) Buyer; (b) any person controlling or controlled by Buyer;
or (c) any person having a beneficial interest in Buyer is (i) a country, territory, individual or entity named on a list maintained by
OFAC, (ii) a person prohibited under the OFAC Programs, (iii) a senior foreign political figure,1
or any immediate family member2 or close
associate3 of a senior foreign political
figure as such terms are defined in the footnotes below or (iv) a “foreign shell bank” within the meaning of the U.S. Bank
Secrecy Act (31 U.S.C. §5311 et seq.), as amended (the “Bank Secrecy Act”) and the regulations promulgated thereunder
by the U.S. Department of the Treasury.

 

(iv)           Buyer
further represents and warrants that Buyer: (i) has conducted thorough due diligence with respect to all of its beneficial owners, (ii)
has established the identities of all beneficial owners and the source of each of the beneficial owner’s funds and (iii) will retain
evidence of any such identities, any such source of funds and any such due diligence.

 

 

1   A
 “senior foreign political figure” is defined as a senior official in the executive, legislative, administrative, military
or judicial branches of a foreign government (whether elected or not), a senior official of a major foreign political party, or a senior
executive of a foreign government-owned corporation. In addition, a “senior foreign political figure” includes any corporation,
business or other entity that has been formed by, or for the benefit of, a senior foreign political figure.

 

2   “Immediate
family” of a senior foreign political figure typically includes the figure’s parents, siblings, spouse, children and in-laws.

 

3   A
 “close associate” of a senior foreign political figure is a person who is widely and publicly known to maintain an unusually
close relationship with the senior foreign political figure, and includes a person who is in a position to conduct substantial domestic
and international financial transactions on behalf of the senior foreign political figure.

 

    5 

     

    

 

(v)            Neither
Buyer nor any person directly or indirectly controlling, controlled by or under common control with Buyer is a person identified as a
terrorist organization on any relevant lists maintained by governmental authorities.

 

(vi)           Buyer
agrees to provide the Company all information that may be reasonably requested to comply with applicable laws and regulations of any
applicable jurisdiction, or to respond to requests for information concerning the identity of Buyer from any governmental authority,
self-regulatory organization or financial institution in connection with its anti-money laundering compliance procedures, or to update
such information. Buyer agrees to notify the Company promptly if there is any change with respect to the representations and warranties
provided herein. Buyer consents to the disclosure to regulators and law enforcement authorities by the Company and its affiliates and
agents of any information about Buyer or its constituents as the Company reasonably deems necessary or appropriate to comply with applicable
anti-money laundering, anti-terrorist and asset control laws, regulations, rules and orders.

 

		3.	REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

On each Closing Date, the
Company represents and warrants to the Buyer the matters set forth in this Section 3, as may be qualified by the corresponding section
of the Company Disclosure Schedule which the parties hereby agree may be updated as of each Closing Date by the Company without constituting
a breach hereof. These representations and warranties, and the information set forth in the Company Disclosure Schedule, are, as of any
Closing Date, current only as of such Closing Date, except to the extent that a representation, warranty or section of the Company Disclosure
Schedule expressly states that such representation or warranty, or information in such section of the Company Disclosure Schedule, is
current only as of an earlier date. If any information is so reflected as of an earlier date, there have been no material changes since
such date to such Closing Date.

 

(a)           Organization
and Qualification. Each of the Company and each of its subsidiaries are entities duly organized and validly existing and, except
as provided on Section 3(a) of the Disclosure Schedule, in good standing under the laws of the jurisdiction in which they are
formed, and have the requisite power and authorization to own their properties and to carry on their business as now being conducted
and as presently proposed to be conducted. Each of the Company and each of its subsidiaries is duly qualified as a foreign entity to
do business and is in good standing in every jurisdiction in which its ownership of property or the nature of the business conducted
by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing would not have
a Material Adverse Effect. Except as provided on Section 3(a) of the Disclosure Schedule, the Company has no material subsidiaries.

 

    6 

     

    

 

(b)           Authorization;
Enforcement; Validity. The Company has the requisite power and authority to enter into and perform its obligations under this Agreement
and the other Transaction Documents and to issue the Securities in accordance with the terms hereof and thereof. The execution
and delivery of this Agreement and the other Transaction Documents by the Company and the consummation by the Company of the transactions
contemplated hereby and thereby (including, without limitation, the issuance of the Purchase Shares) have been (i) duly authorized by
the Company’s board of directors and (ii) no further filing, consent or authorization is required by the Company, its board of
directors or its stockholders or other governing body of the Company (other than the filing of one or more Piggyback Registration Statements
and a Form D with the SEC and any other filings as may be required by any state securities agencies). This Agreement has been, and the
other Transaction Documents will be prior to the Closing, duly executed and delivered by the Company, and each constitutes the legal,
valid and binding obligations of the Company, enforceable against the Company in accordance with its respective terms, except as such
enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation
or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies and except as
rights to indemnification and to contribution may be limited by federal or state securities law. 

 

(c)           Issuance
of Securities. The issuance of the Purchase Shares is duly authorized and, upon issuance in accordance with the terms of this Agreement,
the Purchase Shares will be validly issued, fully paid and non-assessable and free from all preemptive or similar rights, taxes, Liens,
charges and other encumbrances with respect to the issue thereof (other than pursuant to the securities laws), with the holders being
entitled to all rights accorded to a holder of shares of Common Stock. As of each Closing, the Company shall have reserved from its duly
authorized capital stock not less than the sum of 300% of the shares of Common Stock issuable upon purchase (including any adjustment
pursuant to Section 1(d) hereof) of Purchase Shares at such Closing pursuant to the terms of this Agreement (without taking into account
any limitations on purchase set forth herein); provided, however, that the Company shall not be required to hold in reserve, and any
shares of Common Stock so held in reserve shall be released from reserve, after an adjustment pursuant to Section 1(d) hereof has occurred
following such Closing. Subject to the accuracy of the representations and warranties of the Buyer in this Agreement, the offer and issuance
by the Company of the Securities is exempt from registration under the Securities Act. Upon issuance in accordance with the terms of
this Agreement, Buyer will have good and marketable title to the Securities.

 

(d)           No
Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Purchase Shares) will not (i)
result in a violation of the articles of incorporation of the Company (including, without limitation, any certificate of designation
contained therein) or other organizational documents of the Company or any of its subsidiaries, any capital stock of the Company or any
of its subsidiaries or bylaws or operating agreements of the Company or any of its subsidiaries, (ii) conflict with, or constitute a
default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its subsidiaries is
a party or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including, without limitation, foreign,
federal and state securities laws and regulations and the rules and regulations by which the Common Stock or any property or asset of
the Company is bound or affected except, in the case of clause (ii) or (iii) above, to the extent such violations that could not reasonably
be expected to have a Material Adverse Effect.

 

    7 

     

    

 

(e)           Consents. Neither the Company nor any subsidiary is required to obtain any consent from, authorization or order of, or
make any filing or registration with any court, governmental agency or any regulatory or self-regulatory agency or any other Person (other
than the filing of one or more Piggyback Registration Statements and a Form D with the SEC and any other filings as may be required by
any state securities agencies), in order for it to execute, deliver or perform any of its respective obligations under, or contemplated
by, the Transaction Documents, in each case, in accordance with the terms hereof or thereof. All consents, authorizations, orders, filings
and registrations which the Company is required to obtain at or prior to the Closing have been obtained or effected on or prior to the
Closing Date, and the Company is not aware of any facts or circumstances which might prevent the Company from obtaining or effecting
any of the registration, application or filings contemplated by the Transaction Documents.

 

(f)            Acknowledgment
Regarding Buyer’s Purchase of Securities. Buyer is not (i) an officer or director of the Company, (ii) an affiliate (as defined
in Rule 405 of the Securities Act) of the Company (an “Affiliate”) or (iii) to the Company’s knowledge, a “beneficial
owner” (as defined for purposes of Rule 13d-3 of the Exchange Act) of more than 10% of the shares of Common Stock. The Company’s
decision to enter into the Transaction Documents has been based on its and its representative’s independent evaluation of the transactions
contemplated hereby and the Company has neither been induced by, nor has it relied upon, any representation, warranty, covenant or statement
(written or oral), whether express or implied, made by Buyer except those that are expressly set forth in this Agreement.

 

(g)             No
General Solicitation; Placement Agent’s Fees. None of the Company, any of its Affiliates, or any Person acting on the behalf
of the Company or any of its Affiliates, has engaged in any form of general solicitation or general advertising (within the meaning of
Regulation D) in connection with the offer or sale of the Securities. The Company shall be responsible for the payment of any of its
placement agent’s fees, financial advisory fees, or brokers’ commissions, relating to or arising out of the transactions
contemplated hereby.

 

(h)             No
Integrated Offering. None of the Company, any of its Affiliates, or, to the knowledge of the Company, any Person acting on the behalf
of the Company or any of its Affiliates has, directly or indirectly, made any offers or sales of any security or solicited any offers
to buy any security, under circumstances that would require registration of the issuance of any of the Securities under the Securities
Act, whether through integration with prior offerings or otherwise, or cause this offering of the Securities to require approval of stockholders
of the Company under any applicable stockholder approval provisions, including, without limitation, under the rules and regulations of
any exchange or automated quotation system on which any of the securities of the Company are listed or designated for quotation. None
of the Company, any of its Affiliates, or, to the knowledge of the Company, any Person acting on the behalf of the Company or any of
its Affiliates will take any action or steps that would require registration of the issuance of any of the Securities under the Securities
Act or cause the offering of any of the Securities to be integrated with other offerings of securities of the Company.

 

(i)            Dilutive
Effect. The Company acknowledges that, except to the extent an issuance would exceed the beneficial ownership limitation in Section
1(e) of this Agreement, its obligation to issue the Purchase Shares in accordance with this Agreement is absolute and unconditional,
regardless of the dilutive effect that such issuance may have on the ownership interests of other stockholders
of the Company.

 

    8 

     

    

 

(j)            Application
of Takeover Protections; Rights Agreement. The Company and its board of directors have taken all necessary action, if any, in order
to render inapplicable any control share acquisition, interested stockholder, business combination, poison pill (including, without limitation,
any distribution under a rights agreement), shareholder rights plan or other similar anti-takeover provision under the certificate of
incorporation, bylaws or other organizational documents of the Company or any of its Affiliates or the laws of the jurisdiction of its
incorporation or otherwise which is or could become applicable to Buyer as a result of the transactions contemplated by this Agreement,
including, without limitation, the Company’s issuance of the Securities and Buyer’s ownership of the Securities. The Company
and its board of directors have taken all necessary action, if any, in order to render inapplicable any shareholder rights plan or similar
arrangement relating to accumulations of beneficial ownership of shares of Common Stock or a change in control of the Company or any
of its Affiliates.

 

(k)           Absence
of Certain Changes. Except as provided on Section 3(k) of the Disclosure Schedule, since January 1, 2021, there has been no
material adverse change and no material adverse development in the business, assets, liabilities, properties, operations (including results
thereof), or condition (financial or otherwise) of the Company and its subsidiaries. Except as provided on Section 3(k) of the Disclosure
Schedule, since January 1, 2021, neither the Company nor any of its subsidiaries has (i) declared or paid any dividends, (ii) sold
any material assets outside of the ordinary course of business or (iii) made any material capital expenditures, individually or in the
aggregate, outside of the ordinary course of business. Neither the Company nor any of its subsidiaries has taken any steps to seek protection
pursuant to any law or statute relating to bankruptcy, insolvency, reorganization, receivership, liquidation or winding up. Neither the
Company nor any of its subsidiaries has any knowledge or reason to believe that any of their respective creditors intend to initiate
involuntary bankruptcy proceedings or any actual knowledge of any fact which would reasonably lead a creditor to do so. The Company is
not, and after giving effect to the transactions contemplated hereby to occur at the Closing will not be, Insolvent. The Company has
not engaged in any business or in any transaction, and is not about to engage in any business or in any transaction, for which the Company’s
remaining assets constitute unreasonably small capital.

 

(l)            No
Undisclosed Events, Liabilities, Developments or Circumstances. Except as provided on Section 3(l) of the Disclosure Schedule,
since January 1, 2021, no event, liability, development or circumstance has occurred or exists, or is reasonably expected to occur or
exist with respect to the Company or any of its subsidiaries or any of their respective businesses, properties, liabilities, prospects,
operations (including results thereof) or condition (financial or otherwise) that would have a Material Adverse Effect on the Company.

  

    9 

     

    

 

(m)          Conduct
of Business; Regulatory Permits. Neither the Company nor any of its subsidiaries is in violation of any term of or in default under
its organizational documents including its certificate of incorporation, bylaws, certificate of formation, any other organizational charter,
any certificate of designation, preferences or rights of any outstanding series of preferred stock of the Company or any of its subsidiaries,
respectively. Neither the Company nor any of its subsidiaries is in violation of any judgment, decree or order or any statute, ordinance,
rule or regulation applicable to the Company or any of its subsidiaries, and the Company will not conduct its
business in violation of any of the foregoing, except in all cases for possible violations which could not, individually or in the aggregate,
have a Material Adverse Effect. The Company and each of its subsidiaries possess all certificates, authorizations and permits issued
by the appropriate regulatory authorities necessary to conduct their businesses, except where the failure to possess such certificates,
authorizations or permits would not have, individually or in the aggregate, a Material Adverse Effect, and neither the Company nor any
such subsidiary has received any notice of proceedings relating to the revocation or modification of any such certificate, authorization
or permit.

 

(n)           Foreign
Corrupt Practices. Neither the Company nor any of its subsidiaries nor to the knowledge of the Company, any director, officer, agent,
employee or other Person acting on behalf of the Company or any of its subsidiaries (as applicable) has, in the course of its actions
for, or on behalf of, the Company or any of its subsidiaries (i) used any corporate funds for any unlawful contribution, gift, entertainment
or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic
government official or employee from corporate funds; (iii) violated or is in violation of any provision of the U.S. Foreign Corrupt
Practices Act of 1977, as amended; or (iv) made any unlawful bribe, rebate, payoff, influence payment, kickback or other unlawful payment
to any foreign or domestic government official or employee.

 

(o)           Transactions
With Affiliates. Except as provided on Section 3(o) of the Disclosure Schedule, none of the officers, directors, employees
or Affiliates of the Company is presently a party to any transaction with the Company (other than for ordinary course services as employees,
officers or directors and immaterial transactions), 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 such
officer, director, employee or Affiliate or, to the knowledge of the Company, any corporation, partnership, trust or other Person in
which any such officer, director, employee or Affiliate has a substantial interest or is an employee, officer, director, trustee or partner.

 

    10 

     

    

 

 

(p)              
Equity Capitalization. As of the date hereof, the authorized capital stock of the Company consists solely of (i) 600,000,000
shares of Common Stock, of which 67,860,246 are issued and outstanding and 23,391,845 are reserved for issuance pursuant to Convertible
Securities (150,025,000 are reserved for issuance upon conversion of Series A Preferred Stock and 71,516,534 are reserved for issuance
upon conversion of Series B Preferred Stock), and (ii) 73,800,250 shares of preferred stock, of which, 1,500,250 are designated as Series
A Preferred Stock, 72,300,000 are designated as Series B Preferred Stock and 0 are designated as Series C Preferred Stock, of which 1,500,250,
71,516,534 and 0 are issued and outstanding, respectively. No shares of Common Stock are held in treasury. All of such outstanding shares
are duly authorized and have been, or upon issuance will be, validly issued and are fully paid and non-assessable. Except as provided
on Section 3(p) of the Disclosure Schedule, (i) to the Company’s knowledge, no Person owns 10% or more of the Company’s
issued and outstanding shares of Common Stock (calculated based on the assumption that all Convertible Securities, whether or not presently
exercisable or convertible, have been fully exercised or converted (as the case may be) taking account of any limitations on
exercise or conversion (including “blockers”) contained therein or in the Company’s articles of incorporation without
conceding that such identified Person is a 10% stockholder for purposes of federal securities laws); (ii) the Company’s capital
stock and the capital stock of its subsidiaries are not subject to preemptive rights or any other similar rights or any Liens; (iii)
there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company or any of its subsidiaries,
or contracts, commitments, understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to issue
additional capital stock or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company or any of its subsidiaries,
respectively (other than as may be issued from time to time under any equity incentive plan maintained); (iv) there are no outstanding
debt securities, convertible notes, credit agreements, credit facilities or other agreements, documents or instruments evidencing Indebtedness
of the Company or any of its subsidiaries or by which the Company or any of its subsidiaries is or may become bound; (v) there are no
financing statements securing obligations in any amounts filed in connection with the Company or any of its subsidiaries; (vi) there
are no agreements or arrangements under which the Company or any of its subsidiaries is obligated to register the sale of any of their
securities under the Securities Act (except as provided in Section 5(h) hereof); (vii) there are no outstanding securities or instruments
of the Company or any of its subsidiaries which contain any redemption or similar provisions, and there are no contracts, commitments,
understandings or arrangements by which the Company or any of its subsidiaries is or may become bound to redeem a security of the Company
or any of its subsidiaries; (viii) there are no securities or instruments containing anti-dilution or similar provisions that will be
triggered by the issuance of the Securities; and (ix) neither the Company nor any of its subsidiaries has stock appreciation rights or
 “phantom stock” plans or agreements or any similar plan or agreement. The Company has provided to Buyer a true, correct and
complete copy of the Company’s charter as in effect on the date hereof, and the terms of all securities convertible into, or exercisable
or exchangeable for, shares of Common Stock and the material rights of the holders thereof.

 

(q)              
Indebtedness and Other Contracts. Except as provided on Section 3(q) of the Disclosure Schedule, each of the Company
and its subsidiaries (i) does not have any material outstanding Indebtedness, Indebtedness secured by any Lien on any assets of the Company
or any of its Subsidiaries or other material debt obligations, (ii) is not a party to any contract, agreement or instrument, the violation
of which, or default under which, by the other party(ies) to such contract, agreement or instrument could reasonably be expected to result
in a Material Adverse Effect, (iii) is not in violation of any term of, or in default under, any contract, agreement or instrument relating
to any Indebtedness, except where such violations and defaults would not result, individually or in the aggregate, in a Material Adverse
Effect, and (iv) is not a party to any contract, agreement or instrument relating to any Indebtedness, the performance of which, in the
judgment of the Company’s officers, has or is expected to have a Material Adverse Effect. The Company has no current intention or
expectation to file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction

 

(r)               
Absence of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board,
government agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened against or affecting
the Company or any of its subsidiaries, the shares of Common Stock or any of the Company’s or its subsidiaries’ executive
officers or directors which would be reasonably likely to adversely affect the transactions contemplated by this Agreement. There has
not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the SEC involving the Company,
any of its subsidiaries or any current or former director or officer of the Company or any of its subsidiaries. 

 

    11 

     

    

 

(s)               
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 management of the Company believes to be prudent and customary in the businesses in which
the Company and its subsidiaries are engaged. The Company has no reason to believe that it will be unable 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 have a Material Adverse Effect.

 

(t)                
Employee Relations. Neither the Company nor any of its subsidiaries is a party to any collective bargaining agreement nor
does it employ any member of a union. No executive officer or other key employee of the Company or any of its subsidiaries has notified
the Company or any such subsidiary that such officer intends to leave the Company or any such subsidiary or otherwise terminate such officer’s
employment with the Company or any such subsidiary. To the knowledge of the Company, no executive officer or other key employee of the
Company or any of its subsidiaries is, or is now expected to be, in violation of any material term of any employment contract, confidentiality,
disclosure or proprietary information agreement, non-competition agreement, or any other contract or agreement or any restrictive covenant,
and the continued employment of each such executive officer or other key employee (as the case may be) does not subject the Company or
any of its subsidiaries to any liability with respect to any of the foregoing matters. The Company and its subsidiaries are in compliance
with all federal, state, local and foreign laws and regulations respecting labor, employment and employment practices and benefits, terms
and conditions of employment and wages and hours, except where failure to be in compliance would not, either individually or in the aggregate,
reasonably be expected to result in a Material Adverse Effect.

 

(u)              
Title. The Company and its subsidiaries have good and marketable title to (i) all real property owned by it and (ii) all
personal property, 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 do not materially affect the value of such property and do not interfere with the use
made and proposed to be made of such property by the Company and any of its subsidiaries. Any real property and facilities held under
lease by the Company and any of its subsidiaries are held by them under valid, subsisting and enforceable leases 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
of its subsidiaries.

 

(v)              
Intellectual Property Rights. The Company and its subsidiaries own or possess adequate rights or licenses to use all material
trademarks, trade names, service marks, service mark registrations, service names, patents, patent rights, copyrights, original works,
inventions, licenses, approvals, governmental authorizations, trade secrets and other intellectual property rights and all applications
and registrations therefor (“Intellectual Property Rights”) necessary to conduct their respective businesses as now
conducted and as presently proposed to be conducted. None of the Company’s or its subsidiaries’ Intellectual Property Rights
have expired, terminated or been abandoned, or are expected to expire, terminate or be abandoned, within three years from the date of
this Agreement, which could reasonably be expected to result in a Material Adverse Effect. The Company has no knowledge of any material
infringement by the Company or any of its subsidiaries of Intellectual Property Rights of others. There is no claim, action or proceeding
being made or brought, or to the knowledge of the Company or any of its subsidiaries, being threatened, against the Company or any of
its subsidiaries regarding their Intellectual Property Rights and which would reasonably be expected to have a Material Adverse Effect.
The Company is not aware of any facts or circumstances which might give rise to any of the foregoing infringements or claims, actions
or proceedings. The Company and each of its subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality
and value of all of their Intellectual Property Rights, except where failure to take such measures would not, either individually or
in the aggregate, reasonably be expected to materially affect the value of their respective Intellectual Property Rights.

 

    12 

     

    

 

(w)            
Environmental Laws. The Company and its subsidiaries (i) are in compliance with all 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 where, in each of the foregoing clauses
(i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse
Effect.

 

(x)              
Subsidiary Rights. The Company or one of its subsidiaries has unrestricted right to vote, and (subject to limitations imposed
by applicable law) to receive dividends and distributions on, all capital securities of its subsidiaries as owned by the Company or such
subsidiary.

 

(y)              
Tax Status. Except as set forth on Section 3(y) of the Disclosure Schedule, each of the Company and its subsidiaries
(i) has timely made or filed all foreign, federal and state income and all other tax returns, reports and declarations required by any
jurisdiction to which it is subject, (ii) has timely paid all taxes and other governmental assessments and charges that are material in
amount, shown or determined to be due on such returns, reports and declarations, except those being contested in good faith and (iii)
has set aside on its books provision reasonably adequate for the payment of all taxes for periods subsequent to the periods to which such
returns, reports or declarations apply, except in each case where the failure to file, pay or set aside could not be reasonably expected
to have a Material Adverse Effect. Except as set forth on Section 3(y) of the Disclosure Schedule, there are no unpaid taxes in
any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company and it subsidiaries
know of no basis for any such claim. The Company is not operated in such a manner as to qualify as a passive foreign investment company,
as defined in Section 1297 of the U.S. Internal Revenue Code of 1986, as amended.

 

(z)              
Investment Company Status. The Company is not, and upon consummation of the sale of the Securities will not be, an “investment
company,” an affiliate of an “investment company,” a company controlled by an “investment company” or an
 “affiliated person” of, or “promoter” or “principal underwriter” for, an “investment company”
as such terms are defined in the Investment Company Act of 1940, as amended.

 

(aa)           
No Disqualification Events. None of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering contemplated hereby, 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). The Company
has exercised reasonable care to determine whether any Issuer Covered Person is subject to a Disqualification Event.

 

    13 

     

    

 

(bb)          
Transfer Taxes. On the Closing Date, all stock transfer or other taxes (other than income or similar taxes) which are required
to be paid in connection with the issuance, sale and transfer of the Securities to be sold to Buyer hereunder will be, or will have been,
fully paid or provided for by the Company, and all laws imposing such taxes will be or will have been complied with.

 

(cc)           
Shell Company Status. The Company is not, and has never been, an issuer identified in, or subject to, Rule 144(i).

 

(dd)          
Fixtures and Equipment. Each of the Company and its subsidiaries (as applicable) has good title to, or a valid leasehold
interest in, the tangible personal property, equipment, improvements, fixtures, and other personal property and appurtenances that are
used by the Company or its subsidiary in connection with the conduct of its business (the “Fixtures and Equipment”).
The Fixtures and Equipment are structurally sound, are in good operating condition and repair, are adequate for the uses to which they
are being put, are not in need of maintenance or repairs except for ordinary, routine maintenance and repairs and are sufficient for the
conduct of the Company’s and/or its subsidiaries’ businesses (as applicable) in the manner as conducted prior to the Closing.
Each of the Company and its Subsidiaries owns all of its Fixtures and Equipment free and clear of all Encumbrances except for (a) Liens
for current taxes not yet due and (b) zoning laws and other land use restrictions that do not impair the present or anticipated use of
the property subject thereto.

 

(ee)           
Illegal or Unauthorized Payments; Political Contributions. Neither the Company nor any of its subsidiaries nor, to the best
of the Company’s knowledge (after reasonable inquiry of its executive officers and directors), any of the officers, directors, employees,
agents or other representatives of the Company or any of its subsidiaries or any other business entity or enterprise with which the Company
or any of its subsidiaries 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 or any of its subsidiaries.

 

(ff)             
Money Laundering. The Company and its subsidiaries are in compliance with, and have 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, without limitation, the
laws, regulations and Executive Orders and sanctions programs administered by the U.S. Office of Foreign Assets Control, including, without
limitation, (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.

 

    14 

     

    

 

(gg)          
Registration Rights. Except as provided in Section 5(h) hereof, no holder of securities of the Company has rights to the
registration of any securities of the Company because of the issuance of the Securities hereunder that could expose the Company to material
liability or Buyer to any liability or that could impair the Company’s ability to consummate the issuance and sale of the Securities
in the manner, and at the times, contemplated hereby, which rights have not been waived by the holder thereof as of the date hereof.

 

(hh)          
Disclosure. Each representation and warranty of the Company made herein is true and correct in all material respects 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 confirms that neither it nor any
other Person acting on its behalf has provided Buyer or their agents or counsel with any information that constitutes or could reasonably
be expected to constitute material, non-public information concerning the Company or any of its subsidiaries, other than the existence
of the transactions contemplated by this Agreement and the other Transaction Documents; provided, however, that to the extent any such
material non-public information was provided to Buyer, then the Company hereby covenants to include in that Form S-4 (as amended, the
 “S-4”) to be publicly filed with respect to the proposed reverse merger (the “Merger”) between the
Company and Net Element, Inc., a Delaware corporation (the “Net Element”), any such information. The Company further
covenants to include in the S-4 any event or circumstance occurring or information arising after the date hereof with respect to the Company
or any of its subsidiaries or their respective businesses, properties, liabilities, prospects, operations (including results thereof)
or conditions (financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure at or before the date
hereof or announcement by the Company but which has not been so publicly disclosed. The Company understands and confirms that Buyer will
rely on the foregoing representations in effecting transactions in securities of the Company. The Company acknowledges and agrees that
Buyer makes no and has not made any representations or warranties with respect to the transactions contemplated hereby other than those
specifically set forth in Section 2.

 

		4.	COVENANTS.

 

(a)              
Blue Sky. The Company shall, on or before the Closing Date, take such action as the Company shall reasonably determine is
necessary in order to obtain an exemption for, or to, qualify the Securities for sale to Buyer at the Closing pursuant to this Agreement
under applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an exemption from such qualification),
and shall provide confirmation of any such action, if applicable, so taken to Buyer on or prior to such Closing Date. Without limiting
any other obligation of the Company under this Agreement, the Company shall timely make all filings and reports relating to the offer
and sale of the Securities required under all applicable securities laws (including, without limitation, all applicable federal securities
laws and all applicable “Blue Sky” laws), and the Company shall comply with all applicable federal, foreign, state and local
laws, statutes, rules, regulations and the like relating to the offering and sale of the Securities to Buyer.

 

    15 

     

    

 

(b)              
 Use of Proceeds. [Reserved].

 

(c)              
Fees. The Company shall be responsible for the payment of any transfer agent fees, DTC fees or broker’s commissions,
relating to or arising out of the issuance and sale of the Securities by the Company as contemplated hereby. The Company shall pay, and
hold Buyer harmless against, any liability, loss or expense (including, without limitation, reasonable attorneys’ fees and out-of-pocket
expenses) arising in connection with any claim relating to any such payment. Except as otherwise set forth in the Transaction Documents,
each party to this Agreement shall bear its own expenses in connection with the sale of the Securities to Buyer.

 

(d)              
Pledge of Securities. Notwithstanding anything to the contrary contained in this Agreement, the Company acknowledges and
agrees that the Securities may be pledged by Buyer in connection with a bona fide margin agreement or other loan or financing arrangement
that is secured by the Securities. The pledge of Securities shall not be deemed to be a transfer, sale or assignment of the Securities
hereunder, and Buyer effecting a pledge of Securities shall not be required to provide the Company with any notice thereof or otherwise
make any delivery to the Company pursuant to this Agreement or any other Transaction Document. At Buyer’s expense, the Company hereby
agrees to execute and deliver such documentation as a pledgee of the Securities may reasonably request in connection with a pledge of
the Securities to such pledgee by Buyer provided that the Company shall be under no obligation to deliver any legal opinion required in
connection therewith unless required by the Company’s transfer agent to be issued by the Company’s legal counsel.

 

(e)              
Disclosure of Transactions and Other Material Information. The Company shall not, and the Company shall cause each of its
officers, directors, employees and agents not to, provide Buyer with any material, non-public information regarding the Company from and
after the Execution Date without the express prior written consent of Buyer. Subject to the foregoing, neither the Company nor Buyer shall
issue any press releases or any other public statements with respect to the transactions contemplated hereby; provided, however, the Company
shall be entitled, without the prior approval of Buyer, to make any press release or other public disclosure with respect to such transactions
as is required by applicable law and regulations (provided that Buyer shall be consulted by the Company in connection with any such press
release or other public disclosure prior to its release). Without the prior written consent of Buyer, the Company shall not (and shall
cause each of its affiliates to not) disclose the name of Buyer in any filing (other than as required by applicable law or rules and regulations),
announcement, release or otherwise. Notwithstanding anything contained in this Agreement to the contrary and without implication that
the contrary would otherwise be true, the Company expressly acknowledges and agrees that, from and after the Execution Date, and except
as set forth in Section 4(o), Buyer shall not have (unless expressly agreed to by Buyer after the date hereof in a written definitive
and binding agreement executed by the Company and Buyer), any duty of confidentiality with respect to, or a duty not to trade on the basis
of, any information regarding the Company or any of its subsidiaries (as applicable) that Buyer receives from the Company, any of its
subsidiaries or any of its or its officers, directors, employees, stockholders or agents.

 

    16 

     

    

 

(f)               
Additional Registration Statements. Whenever the Company (or a Successor Entity) proposes to register the offer and sale
of any shares of its common stock under the Securities Act (other than a registration (i) pursuant to a Registration Statement on Form
S-8 (or other registration solely relating to an offering or sale to employees or directors of the Company pursuant to any employee stock
plan or other employee benefit arrangement), or (ii) in connection with any dividend or distribution reinvestment or similar plan), which
includes the registration of shares of Common Stock for the account of one or more stockholders of the Company and the form of registration
statement (a “Piggyback Registration Statement”) to be used may be used for any registration of Registrable Securities,
the Company shall include in such registration all Registrable Securities unless the Company has received a written request for exclusion
from the Buyer. The Company shall give prompt written notice (in any event no later than ten (10) Trading Days prior to the filing of
such Piggyback Registration Statement) to the Buyer of its intention to effect such a registration. The Company shall notify the Buyer,
promptly after the Company receives notice thereof, of the time when such Piggyback Registration Statement has been declared effective
or a supplement to any prospectus forming a part of such Piggyback Registration Statement has been filed with the SEC. The Company shall
further notify Buyer, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening
of any event that would cause the prospectus included in such Piggyback Registration Statement to contain an untrue statement of a material
fact or omit any fact necessary in order to make the statements made therein, in light of the circumstances under which they were made,
not misleading, and the Company shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers
of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any fact necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading. The Company shall use its reasonable
efforts such that upon effectiveness of any such Piggyback Registration Statement, the Registrable Securities registered thereunder shall
be listed on each securities exchange on which the Common Stock is then listed. The Company shall otherwise use its reasonable efforts
to take all other steps necessary to effect the registration and sale of the Registrable Securities included on such Piggyback Registration
Statement as contemplated hereby.

 

(g)              
Reservation of Shares. As long as any of the Purchase Shares remain unpurchased, the Company shall take all action necessary
to at all times have authorized and reserved for the purpose of issuance, no less than 300% of the shares of Common Stock issuable upon
purchase of additional Purchase Shares pursuant to the terms of this Agreement (without taking into account any limitations on purchase
set forth herein).

 

(h)              
Conduct of Business. The business of the Company shall not be conducted in violation of any law, ordinance or regulation
of any governmental entity, except where such violations would not result, either individually or in the aggregate, in a Material Adverse
Effect.

 

(i)                
Passive Foreign Investment Company. The Company shall conduct its business in such a manner as will ensure that the Company
will not be deemed to constitute a passive foreign investment company within the meaning of Section 1297 of the U.S. Internal Revenue
Code of 1986, as amended.

 

(j)                
Corporate Existence. [Reserved].

 

    17 

     

    

 

(k)              
Due Diligence. In connection with any reasonable request by Buyer made in connection with the filing of the Registrations
Statement or a Piggyback Registration Statement, or any amendment or supplement thereto, Buyer shall have the right, from time to time
as Buyer may reasonably deem appropriate, to perform reasonable due diligence on the Company during normal business hours and subject
to reasonable prior notice to the Company. The Company and its officers and employees shall provide information (“Confidential
Information”) and reasonably cooperate with Buyer in connection with Buyer’s due diligence; provided, however, that at
no time is the Company required or permitted to disclose material nonpublic information to Buyer or breach any obligation of confidentiality
or non-disclosure to a third party or make any disclosure that could cause a waiver of attorney-client privilege. Except as may be required
by law, court order or governmental authority, each party hereto agrees not to disclose any Confidential Information of the other party
to any third party and shall not use the Confidential Information of such other party for any purpose other than in connection with,
or in furtherance of, the transactions contemplated hereby. In the event a party is required by law, court order or governmental authority
to disclose the Confidential Information of the other party, such party shall give the other party written notice of the information
to be disclosed as far in advance of its disclosure as practicable and use its commercially reasonable efforts, and shall reasonably
cooperate with the other party’s efforts, to obtain assurances that confidential treatment will be accorded such information. Each
party hereto acknowledges that the Confidential Information shall remain the property of the disclosing party and agrees that it shall
take all reasonable measures to protect the secrecy of any Confidential Information disclosed by the other party.

 

(l)                
Restriction on Subsequent Financing. Starting from the date that is five (5) Trading Days prior to each Closing until the
end of the Pricing Period applicable to such Closing, neither the Company nor any of its subsidiaries shall, directly or indirectly, effect
any Subsequent Financing.

 

(m)            
The Company shall promptly secure the listing of all of the Securities upon the Principal Market. Neither the Company nor any of
its Subsidiaries shall take any action that would be reasonably expected to result in the failure to be accepted for listing, delisting
or suspension of the Common Stock on the Principal Market, unless the Common Stock is immediately thereafter traded on the New York Stock
Exchange, the NYSE American, the Nasdaq Global Select Market or the Nasdaq Global Market.

 

		5.	REGISTER; TRANSFER AGENT INSTRUCTIONS; LEGEND.

 

(a)              
Register. [Reserved].

 

(b)              
Transfer Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent and any subsequent
transfer agent in a form acceptable to Buyer to credit shares to the applicable balance accounts at The Depository Trust Company (“DTC”),
registered in the name of Buyer or its respective nominee(s), for the Purchase Shares in such amounts as specified from time to time
by Buyer to the Company, and confirmed by the Company, upon the purchase of the Purchase Shares. The Company represents and warrants
that no instruction other than such irrevocable transfer agent instructions referred to in this Section 5(b), and stop transfer instructions
to give effect to Section 2(f) hereof, will be given by the Company to its transfer agent with respect to the Securities, and that the
Securities shall otherwise be freely transferable on the books and records of the Company, as applicable, to the extent provided in this
Agreement and the other Transaction Documents. If Buyer effects a sale, assignment or transfer of the Securities in accordance with Section
2(f), the Company shall permit the transfer and shall promptly instruct its transfer agent to credit shares to the applicable balance
accounts at DTC in such name and in such denominations as specified by Buyer to effect such sale, transfer or assignment. The Company
acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to Buyer. Accordingly, the Company acknowledges
that the remedy at law for a breach of its obligations under this Section 5(b) will be inadequate and agrees, in the event of a breach
or threatened breach by the Company of the provisions of this Section 5(b), that Buyer shall be entitled, in addition to all other available
remedies, to an order and/or injunction restraining any breach and requiring immediate issuance and transfer, without the necessity of
showing economic loss and without any bond or other security being required. The Company shall cause its counsel to issue the legal opinion
referred to in the irrevocable transfer agent instructions to the Company’s transfer agent on the Closing Date. Any fees (with
respect to the transfer agent, counsel to the Company or otherwise) associated with the issuance of such opinion or the removal of any
legends on any of the Securities shall be borne by the Company.

 

    18 

     

    

 

(c)              
Legends. Buyer understands that the Securities have been issued, or will be issued, pursuant to an exemption from registration
or qualification under the Securities Act and applicable state securities laws, and except as set forth below, the Securities shall bear
any legend as required by the “blue sky” laws of any state and a restrictive legend in substantially the following form (and
a stop-transfer order may be placed against transfer of such stock certificates):

 

[NEITHER THE ISSUANCE AND SALE OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN][THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN] REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL TO THE HOLDER (IF REQUESTED BY THE COMPANY), IN A FORM REASONABLY
ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD OR ELIGIBLE TO BE SOLD PURSUANT TO RULE
144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT
OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

(d)             
Removal of Legends. Certificates evidencing Securities shall not be required to contain the legend set forth in Section
5(c) above or any other legend (i) while a registration statement (including the Registrations Statement or a Piggyback Registration
Statement) covering the resale of such Securities is effective under the Securities Act (provided that Buyer provides the Company with
any certificates from Buyer or its broker reasonably required by the Company’s transfer agent), (ii) following any sale of such
Securities pursuant to Rule 144 (assuming the transferor is not an affiliate of the Company) or a registration statement, (iii) if such
Securities are eligible to be sold, assigned or transferred under Rule 144 without current public information being available and without
volume and manner of sale limitations (provided that Buyer provides the Company with reasonable assurances that such Securities are eligible
for sale, assignment or transfer under Rule 144, which shall not include an opinion of counsel, but which may include any certificates
from Buyer or its broker reasonably required by the Company’s transfer agent), (iv) in connection with a sale, assignment or other
transfer (other than under Rule 144), provided that Buyer provides the Company with an opinion of counsel to Buyer from reputable counsel
to the effect that such sale, assignment or transfer of the Securities may be made without registration under the applicable requirements
of the Securities Act or (v) if such legend is not required under applicable requirements of the Securities Act (including, without limitation,
controlling judicial interpretations and pronouncements issued by the SEC). If a legend is not required pursuant to the foregoing, the
Company shall no later than one (1) Trading Day following either (x) the delivery by Buyer to the Company or the transfer agent (with
notice to the Company) of a legended certificate representing such Securities (endorsed or with stock powers attached, signatures guaranteed,
and otherwise in form necessary to affect the reissuance and/or transfer, if applicable), or (y) the delivery by Buyer to the Company
of a notice of exercise, together with any other deliveries from Buyer as may be required above in this Section 5(d), credit the aggregate
number of shares of Common Stock to which Buyer shall be entitled to Buyer’s or its designee’s balance account with DTC through
its Deposit/Withdrawal at Custodian system (the date by which such credit is so required to be made to the balance account of Buyer’s
or Buyer’s nominee with DTC pursuant to the foregoing is referred to herein as the “Required Delivery Date”).

 

    19 

     

    

 

(e)              
Failure to Timely Deliver; Buy-In. If the Company fails to issue and credit (or cause to be credited) by the Required Delivery
Date the balance account of Buyer’s or Buyer’s nominee with DTC for such number of Securities so delivered to the Company,
then, in addition to all other remedies available to Buyer, at the sole discretion of Buyer, the Company shall:

 

(i)       pay
in cash to Buyer on each Trading Day after the Required Delivery Date that the issuance or credit of such shares is not timely effected
an amount equal to 1% of the product of (A) the number of shares of Common Stock not so delivered or credited (as the case may be) to
Buyer or Buyer’s nominee multiplied by (B) the Closing Sale Price of the Common Stock on the Trading Day immediately preceding the
Required Delivery Date; or

 

(ii)       if
on or after the Required Delivery Date, Buyer (or any other Person in respect, or on behalf, of Buyer) purchases (in an open market
transaction or otherwise) shares of Common Stock (“Replacement Shares”) to deliver in satisfaction of a sale by
Buyer of all or any portion of the number of shares of Common Stock, or a sale of a number of shares of Common Stock equal to all or
any portion of the number of shares of Common Stock, that Buyer so anticipated receiving from the Company without any restrictive
legend, then, one (1) Trading Day after Buyer’s request and in Buyer’s sole discretion, either (x) pay cash to Buyer in
an amount equal to Buyer’s total purchase price (including brokerage commissions and other out-of-pocket expenses, if any) for
the Replacement Shares (the “Buy-In Price”), at which point the Company’s obligation to so credit
Buyer’s balance account shall terminate and such shares shall be cancelled or (B) promptly honor its obligation to so credit
Buyer’s DTC account representing such number of shares of Common Stock that would have been so delivered if the Company timely
complied with its obligations hereunder and pay cash to Buyer in an amount equal to the excess (if any) of the Buy-In Price over the
product of (1) such number of shares of Common Stock that the Company was required to deliver to Buyer by the Required Delivery Date
multiplied by (2) the lowest Closing Sale Price of the Common Stock on any Trading Day during the period commencing on the date
Buyer purchased Replacement Shares and ending on the date of such delivery and payment under this clause (ii).

 

    20 

     

    

 

 

(f)               
Manner of Sale. Buyer agrees with the Company that Buyer will sell any Securities pursuant to either the registration requirements
of the Securities Act, including any applicable prospectus delivery requirements, or an exemption therefrom, and acknowledges that the
removal of the restrictive legend from certificates representing Securities as set forth in this Section 5 is predicated upon the Company’s
reliance upon this understanding.

 

		6.	CONDITIONS TO THE COMPANY’S OBLIGATION TO SELL.

 

The obligation of the Company
hereunder to issue and sell the Purchase Shares to Buyer at each Closing is subject to the satisfaction, at or before the applicable Closing
Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and may be waived by
the Company at any time in its sole discretion by providing Buyer with prior written notice thereof:

 

(a)              
Buyer shall have executed each of the other Transaction Documents to which it is a party and delivered the same to the Company.

 

(b)               Buyer
shall have delivered to the Company the applicable Closing Payment (less Thirty-Five Thousand Dollars ($35,000) of expense reimbursement
for legal fees, which shall be paid at the Initial Closing) by wire transfer of immediately available funds pursuant to the wire instructions
provided by the Company.

 

(c)              The
representations and warranties of Buyer shall be true and correct in all material respects as of the date when made and as of the applicable
Closing Date as though originally made at that time (except for representations and warranties that speak as of a specific date, which
shall be true and correct as of such date), and Buyer shall have performed, satisfied and complied in all material respects with the
covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by Buyer at or prior to the
applicable Closing Date.

 

		7.	CONDITIONS TO BUYER’S OBLIGATION TO PURCHASE.

 

The obligation of Buyer hereunder
to purchase the Purchase Shares at each Closing is subject to the satisfaction, at or before the applicable Closing Date and in respect
of each such Closing Date, of each of the following conditions, provided that these conditions are for Buyer’s sole benefit and
may be waived by Buyer at any time in its sole discretion by providing the Company with prior written notice thereof:

 

(a)              
The Company shall have duly executed and delivered to Buyer each of the Transaction Documents to which it is a party and the Company
shall have complied in all respects with all obligations under this Agreement and the other Transaction Documents.

 

(b)              The
Company shall have delivered irrevocable transfer agent instructions to the Company’s transfer agent (including any other documentation
required by the transfer agent, such as a legal opinion) to credit Purchase Shares to the applicable balance accounts at DTC registered
in the name of Buyer or its respective nominee(s). Notwithstanding the foregoing, the Company and its transfer agent shall be entitled
to credit Purchase Shares to the applicable balance accounts at DTC, registered in the name of Buyer or its respective nominee(s) within
one (1) Trading Day after the applicable Closing.

 

    21 

     

    

 

(c)               Each
and every representation and warranty of the Company shall be true and correct in all material respects as of the date when made and
as of the applicable Closing Date as though originally made at that time (except for representations and warranties that speak as of
a specific date, which shall be true and correct in all material respects as of such date) and the Company shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required to be performed, satisfied or complied with
by the Company at or prior to the applicable Closing Date. Buyer shall have received a certificate, executed by the Chief Executive Officer
of the Company, dated as of the applicable Closing Date, (i) to the foregoing effect, (ii) verifying the accuracy of Section 7(f) herein,
(iii) and as to such other matters as may be reasonably requested by Buyer in the form reasonably acceptable to Buyer.

 

(d)               The
Company shall have obtained all governmental, regulatory or third party consents and approvals, if any, necessary for the sale of the
Securities.

 

(e)              
No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed
by any court or governmental authority of competent jurisdiction that prohibits the consummation of any of the transactions contemplated
by the Transaction Documents, and no actions, suits or proceedings shall be in progress or pending by any Person that seeks to enjoin,
prohibit or otherwise adversely affect any of the transactions contemplated by the Transaction Documents.

 

(f)               
Since
the date of execution of this Agreement, (i) no event or series of events shall have occurred that reasonably would have or result in
a Material Adverse Effect and the Company has not filed for nor is it subject to any bankruptcy, insolvency, reorganization or liquidation
proceedings or other proceedings for relief under any bankruptcy law or any law for the relief of debtors instituted by or against the
Company and (ii) all monies provided further to this Agreement have been used solely to fund the Company’s electric vehicle business
and the Company shall have provided Buyer with documentation, if requested, to support such representation.

 

(g)              
The Common Stock shall be listed on the Principal Market.

 

(h)              
The Company shall have filed with the SEC a registration statement (the “Registration Statement”) covering the
sale of the Registrable Securities by the Buyer and such Registration Statement shall have been
declared effective and shall continue to be in full force and effect and shall not have expired, terminated or been abandoned and no stop
order with respect thereto shall be pending or threatened by the SEC.

 

(i)               
The Company shall have prepared and delivered to the Buyer a final and complete form of prospectus, dated and current as of the
Initial Closing, to be used by the Buyer in connection with any sales of any Securities, and to be filed by the Company one (1) Business
Day after the Initial Closing pursuant to Rule 424(b). The Company shall have made all filings under all applicable federal and state
securities laws necessary to consummate the issuance of the Purchase Shares pursuant to this Agreement in compliance with such laws.

 

    22 

     

    

 

(j)              
The Closing Sale Price of the Common Stock on the immediately preceding Trading Day is at least $3.00.

 

(k)              
For the immediately preceding five (5) Trading Days, the average Daily Trading Volume of the Common Stock is greater than One
Million Dollars ($1,000,000).

 

(l)              
The Company shall have delivered to Buyer such other documents, instruments or certificates relating to the transactions contemplated
by this Agreement reasonably required to consummate the transactions contemplated hereby.

 

		8.	TERMINATION.

 

In the event that (i) the
Initial Closing shall not have occurred prior to December 31, 2021, (ii) the definitive agreement between the Company and Net Element
regarding the Merger has expired, terminated or been abandoned, or (iii) as a result of any condition in Section 7 having not been met,
a Closing has not occurred for a period of three (3) months or longer, then Buyer shall have the right to terminate its obligations under
this Agreement at any time on or after the close of business on such date without liability of Buyer to any other party; provided, however,
the right to terminate this Agreement under this Section 8 shall not be available to Buyer if the failure of the transactions contemplated
by this Agreement to have been consummated by such date is the result of Buyer’s breach of this Agreement. Notwithstanding anything
to the contrary above, nothing contained in this Section 8 shall be deemed to release any party from any liability for any breach by such
party of the terms and provisions of this Agreement or the other Transaction Documents or to impair the right of any party to compel specific
performance by any other party of its obligations under this Agreement or the other Transaction Documents.

 

		9.	CERTAIN DEFINITIONS

 

(a)              
Approved Share Plan. “Approved Share Plan” means any employee benefit plan or other compensatory contract,
agreement or other arrangement (including an arrangement with a single officer or director) which has been approved by the board of directors
of the Company prior to or subsequent to the date hereof pursuant to which Common Stock and standard options to purchase Common Stock
may be issued to any employee, officer, director or consultant for services provided or to be provided to the Company in their capacity
as such.

 

(b)              
Business Day. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial
banks in New York, New York are authorized or required by law to remain closed.

 

(c)               
 Closing
Sale Price. “Closing Sale Price” shall mean for any security as of any date, the last closing trade price for
such security on the principal securities exchange or trading market where such security is listed or traded, as reported by
Bloomberg, L.P. (“Bloomberg”), or if the foregoing do not apply, the average of the bid prices of all of the market
makers for such security as reported in the “pink sheets” by OTC Markets Group Inc. (formerly Pink Sheets LLC). All such
determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction
during such period.

 

    23 

     

    

 

(d)              
Common Stock. “Common Stock” means the common stock, par value $0.001 per share, of the Company and any
other shares of stock issued or issuable with respect thereto (whether by way of a stock dividend or stock split or in exchange for or
upon conversion of such shares or otherwise in connection with a combination of shares, distribution, recapitalization, merger, consolidation,
other corporate reorganization or other similar event with respect to the Common Stock).

 

(e)              
Contingent Obligation. “Contingent Obligation” means, as to any Person, any direct or indirect liability,
contingent or otherwise, of that Person with respect to any Indebtedness, lease, dividend or other obligation of another Person if the
primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee
of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that
the holders of such liability will be protected (in whole or in part) against loss with respect thereto.

 

(f)               
Convertible Securities. “Convertible Securities” means any capital stock or other security of the Company
that is at any time and under any circumstances directly or indirectly convertible into, exercisable or exchangeable for, or which otherwise
entitles the holder thereof to acquire, any capital stock or other security of the Company (including, without limitation, Common Stock).

 

(g)              
Daily Trading Volume. “Daily Trading Volume” shall mean for any security the aggregate dollar value of
all trades in such security on the principal securities exchange or trading market where such security is listed or traded for the entirety
of a Trading Day as reported by Bloomberg without regard to (i) pre-open or after-hours trading outside of any regular trading session
for such Trading Day or (ii) block trades.

 

(h)              
Environmental Laws. “Environmental Laws” means all federal, state, local or foreign laws relating to
pollution or protection of human health or the environment (including, without limitation, ambient air, surface water, groundwater, land
surface or subsurface strata), including, without limitation, laws relating to emissions, discharges, releases or threatened releases
of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes (collectively, “Hazardous Materials”)
into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport
or handling of Hazardous Materials, as well as all authorizations, codes, decrees, demands or demand letters, injunctions, judgments,
licenses, notices or notice letters, orders, permits, plans or regulations issued, entered, promulgated or approved thereunder.

 

(i)                
Exchange Act. The “Exchange Act” means the Securities Exchange Act of 1934, as amended.

 

    24 

     

    

 

(j)                
Fundamental Transaction. “Fundamental Transaction” means that (i) the Company shall, directly or indirectly,
in one or more related transactions, (1) consolidate or merge with or into (whether or not the Company is the surviving entity) any other
Person unless the shareholders of the Company immediately prior to such consolidation or merger continue to hold more than 50% of the
outstanding shares of Voting Stock after such consolidation or merger, or (2) sell, lease, license, assign, transfer, convey or otherwise
dispose of all or substantially all of its properties or assets to any other Person, in connection with which the Company is dissolved,
or (3) allow any other Person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding
shares of Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the Person or Persons making or
party to, or associated or affiliated with the Persons making or party to, such purchase, tender or exchange offer), or (4) consummate
a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization,
spin-off or scheme of arrangement) with any other Person whereby such other Person acquires more than 50% of the outstanding shares of
Voting Stock of the Company (not including any shares of Voting Stock of the Company held by the other Person or other Persons making
or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business
combination), or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d)
of the 1934 Act and the rules and regulations promulgated thereunder) is or shall become the “beneficial owner” (as defined
in Rule 13d-3 under the 1934 Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding
Voting Stock of the Company.

 

(k)              
Indebtedness. “Indebtedness” of any Person means, without duplication (A) all indebtedness for borrowed
money, (B) all obligations issued, undertaken or assumed as the purchase price of property or assets, including indebtedness created or
arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect to any property
or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the seller or bank under such agreement
in the event of default are limited to repossession or sale of such property), other than trade payables entered into in the ordinary
course of business, (C) all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments,
(D) all obligations evidenced by notes, bonds, debentures or similar instruments, (E) all monetary obligations under any leasing or similar
arrangement which, in connection with generally accepted accounting principles, consistently applied for the periods covered thereby,
is classified as a capital lease, (F) all indebtedness referred to in clauses (A) through (E) above secured by (or for which the holder
of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any mortgage, lien, pledge, charge, security interest
or other encumbrance upon or in any material property or assets (including accounts and contract rights) owned by such Person, even though
the Person has not assumed or become liable for the payment of such indebtedness, and (G) all Contingent Obligations in respect of indebtedness
or obligations of others of the kinds referred to in clauses (A) through (F) above.

 

(l)                
Insolvent. “Insolvent” means the present fair saleable value of the Company’s assets is less than
the amount required to pay the Company’s total Indebtedness.

 

(m)             Lien.
 “Lien” means any lien, mortgage, pledge, encumbrance, charge, security interest, adverse claim, liability, interest,
charge, preference, priority, proxy, transfer restriction (other than restrictions under the Securities Act and state securities laws),
encroachment, tax, order, community property interest, equitable interest, option, warrant, right of first refusal, easement, profit,
license, servitude, right of way, covenant or zoning restriction.

 

    25 

     

    

 

(n)           
 Material Adverse Effect. “Material Adverse Effect” means any material adverse effect on (i) the business,
properties, assets, liabilities, operations (including results thereof), condition (financial or otherwise) or prospects of the Company
and its subsidiaries, taken as a whole, (ii) the transactions contemplated hereby or in any of the other Transaction Documents or (iii)
the authority or ability of the Company or any of its subsidiaries to perform any of its respective obligations under any of the Transaction
Documents.

 

(o)              
Maximum Percentage. “Maximum Percentage” means 9.9%.

 

(p)              
Parent Entity. “Parent Entity” of a Person means an entity that, directly or indirectly, controls the
applicable Person and whose common stock or equivalent equity security is quoted or listed on the Principal Market, or, if there is more
than one such Person or Parent Entity, the Person or Parent Entity with the largest public market capitalization as of the date of consummation
of the Fundamental Transaction.

 

(q)              
Person. “Person” means an individual, a limited liability company, a partnership, a joint venture, a
corporation, a trust, an unincorporated organization, any other entity and a government or any department or agency thereof.

 

(r)               
Pricing Period. “Pricing Period” means, with regard to each Closing, the ten (10) Trading Days immediately
after applicable Purchase Shares are delivered to the Buyer.

 

(s)               
Principal Market. “Principal Market” means the Nasdaq Capital Market; provided however, that in the event
the Company’s Common Stock is ever listed or traded on the New York Stock Exchange, the NYSE American, the Nasdaq Global Select
Market, the Nasdaq Global Market, then the “Principal Market” shall mean such other market or exchange on which the Company’s
Common Stock is then listed or traded.

 

(t)                
Registrable Securities. “Registrable Securities” means (i) the Purchase Shares, and (ii) any capital
stock of the Company issued or issuable with respect to such Purchase Shares, including, without limitation, (1) as a result of any stock
split, stock dividend, recapitalization, exchange or similar event or otherwise and (2) shares of capital stock of the Company into which
the Common Stock is converted or exchanged and shares of capital stock of a Successor Entity into which the Common Stock is converted
or exchanged, in each case, without regard to any limitations on ownership of the Purchase Shares. As to any Registrable Securities, such
securities shall cease to be Registrable Securities when: (a) a registration statement with respect to the sale of such securities shall
have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance
with such registration statement; (b) such securities shall have been otherwise transferred, new certificates for them not bearing a legend
restricting further transfer shall have been delivered by the Company, and subsequent public distribution of them shall not require registration
under the Securities Act; or (c) such securities are freely saleable under Rule 144 under the Securities Act without the requirement for
current public information and without volume or manner of sale limitations.

 

(u)              
Securities. “Securities” means the Purchase Shares.

 

    26 

     

    

 

(v)               Subsequent
Financing. “Subsequent Financing” means an offering of any equity security or any equity-linked or related
security (including, without limitation, any “equity security” (as that term is defined under Rule 405 promulgated under
the Securities Act), any Convertible Securities, debt (with or related to equity), any preferred stock or any purchase rights).
Notwithstanding the foregoing, to the extent that the issuance of any security meets one or more of the following criteria, such
issuance shall be deemed to not be a “Subsequent Financing” for any purpose of this Agreement: (i) an issuance of shares
of Common Stock or standard options to purchase shares of Common Stock to directors (who are also employees of the Company),
officers, employees or consultants of the Company, in each case, in their capacity as such, pursuant to an Approved Share Plan; (ii)
an issuance of shares of Common Stock upon the conversion or exercise of Convertible Securities issued prior to the date hereof,
provided that the conversion or exercise (as the case may be) of any such Convertible Security is made solely pursuant to the
conversion or exercise (as the case may be) provisions of such Convertible Security that were in effect on the date immediately
prior to the date of this Agreement, the conversion or exercise price of any such Convertible Securities is not lowered, none of
such Convertible Securities are (nor is any provision of any such Convertible Securities) amended or waived in any manner (whether
by the Company or the holder thereof) to increase the number of securities issuable thereunder and none of the terms or conditions
of any such Convertible Securities are otherwise materially changed or waived (whether by the Company or the holder thereof) in any
manner that adversely affects Buyer; and (iii) the issuance of the Purchase Shares.

 

(w)              
Successor Entity. “Successor Entity” means the Person (or, if so elected by the Buyer, the Parent Entity)
formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Buyer, the Parent Entity) with
which such Fundamental Transaction shall have been entered into.

 

(x)              
Trading Day. “Trading Day” means, as applicable, (x) with respect to all price determinations relating
to the Common Stock, any day on which the Common Stock is traded on the principal securities exchange or securities market on which the
Common Stock is then traded, provided that “Trading Day” shall not include any day on which the Common Stock is scheduled
to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the final
hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time of trading on
such exchange or market, then during the hour ending at 4:00:00 p.m., New York time) unless such day is otherwise designated as a Trading
Day in writing by the Buyer or (y) with respect to all determinations other than price determinations relating to the Common Stock, any
day on which The New York Stock Exchange (or any successor thereto) is open for trading of securities.

 

(y)              
Transaction Documents. “Transaction Documents” means, collectively, this Agreement and each of the other
agreements and instruments entered into or delivered by any of the parties hereto in connection with the transactions contemplated hereby
and thereby, as may be amended from time to time.

 

(z)              
Voting Stock. “Voting Stock” of a Person means capital stock of such Person of the class or classes pursuant
to which the holders thereof have the general voting power to elect, or the general power to appoint, at least a majority of the board
of directors, managers or trustees of such Person (irrespective of whether or not at the time capital stock of any other class or classes
shall have or might have voting power by reason of the happening of any contingency).

 

    27 

     

    

 

(aa)           
 VWAP. “VWAP” means, for any security as of any period, the dollar volume-weighted average price for
such security on the principal securities exchange or securities market on which such security is then traded during the period beginning
on the first day of the period at 9:30:01 a.m., New York time, and ending on the last day of the period at 4:00:00 p.m., New York time,
as reported by Bloomberg through its “Volume at Price” function. If the VWAP cannot be calculated for such security on such
date on any of the foregoing bases, the VWAP of such security on such dates shall be the fair market value as mutually determined by the
Company and the Buyer. All such determinations shall be appropriately adjusted for any stock dividend, stock split, reverse stock split,
stock combination, recapitalization or other similar transaction during such period.

 

(bb)            
VWAP Shares. “VWAP Shares” means the number of shares determined by dividing (i) the Closing Payment
for the applicable Closing, by (ii) ninety-five percent (95%) of the lowest daily VWAP during the Pricing Period.

 

		10.	MISCELLANEOUS.

 

(a)              
Governing Law; Jurisdiction; Jury Trial.

 

All questions concerning the
construction, validity, enforcement and interpretation of this Agreement and the other Transaction Documents shall be governed by the
internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of
New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New
York, Borough of Manhattan, for the adjudication of any dispute hereunder or under any of the other Transaction Documents or in connection
herewith or therewith or with any transaction contemplated hereby or thereby or discussed herein or therein, and hereby irrevocably waives,
and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such
court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is
improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address for such 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 manner permitted by law. Nothing contained herein shall be deemed or operate to preclude
Buyer from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s
obligations to Buyer or to enforce a judgment or other court ruling in favor of Buyer. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT
IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING
OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b)              
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party.
In the event that any signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf)
file of an executed signature page, such signature page 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 signature page were an original thereof.

 

    28 

     

    

 

(c)              
Headings; Gender. The headings of this Agreement are for convenience of reference and shall not form part of, or affect
the interpretation of, this Agreement. Unless the context clearly indicates otherwise, each pronoun herein shall be deemed to include
the masculine, feminine, neuter, singular and plural forms thereof. The terms “including,” “includes,” “include”
and words of like import shall be construed broadly as if followed by the words “without limitation.” The terms “herein,”
 “hereunder,” “hereof” and words of like import refer to this entire Agreement instead of just the provision in
which they are found.

 

(d)              
Severability. If any provision of this Agreement is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed amended
to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such provision shall
not affect the validity of the remaining provisions of this Agreement so long as this Agreement as so modified continues to express, without
material change, the original intentions of the parties as to the subject matter hereof and the prohibited nature, invalidity or unenforceability
of the provision(s) in question does not substantially impair the respective expectations or reciprocal obligations of the parties or
the practical realization of the benefits that would otherwise be conferred upon the parties. The parties will endeavor in good faith
negotiations to replace the prohibited, invalid or unenforceable provision(s) with a valid provision(s), the effect of which comes as
close as possible to that of the prohibited, invalid or unenforceable provision(s).

 

(e)               Entire
Agreement; Amendments. This Agreement, the other Transaction Documents and the schedules and exhibits attached hereto and
thereto and the instruments referenced herein and therein supersede all other prior oral or written agreements between the Buyer,
the Company, its affiliates and Persons acting on its behalf solely with respect to the matters contained herein and therein, and
this Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments
referenced herein and therein contain the entire understanding of the parties solely with respect to the matters covered herein and
therein. Except as specifically set forth herein or therein, neither the Company nor Buyer makes any representation, warranty,
covenant or undertaking with respect to such matters. For clarification purposes, the Recitals are part of this Agreement. No
provision of this Agreement may be amended other than by an instrument in writing signed by the Company and Buyer. No waiver shall
be effective unless it is in writing and signed by an authorized representative of the waiving party. No consideration shall be
offered or paid to any Person to amend or consent to a waiver or modification of any provision of any of the Transaction Documents
unless the same consideration also is offered to all of the parties to the Transaction Documents. The Company has not, directly or
indirectly, made any agreements with Buyer relating to the terms or conditions of the transactions contemplated by the Transaction
Documents except as set forth in the Transaction Documents. Without limiting the foregoing, the Company confirms that, except as set
forth in this Agreement, no Buyer has made any commitment or promise or has any other obligation to provide any financing to the
Company or otherwise. As a material inducement for Buyer to enter into this Agreement, the Company expressly acknowledges and agrees
that no due diligence or other investigation or inquiry conducted by Buyer, any of its advisors or any of its representatives shall
affect Buyer’s right to rely on, or shall modify or qualify in any manner or be an exception to any of, the Company’s
representations and warranties contained in this Agreement or any other Transaction Document.

 

    29 

     

    

 

(f)               
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement must be in writing and will be deemed to have been delivered when sent, if sent by e-mail (provided that such sent e-mail is
kept on file (whether electronically or otherwise) by the sending party and the sending party does not receive an automatically generated
message from the recipient’s e-mail server that such e-mail could not be delivered to such recipient). The e-mail addresses for
such communications shall be:

 

If to the Company:

 

Mullen Technologies, Inc.

1405 Pioneer Street

Brea, California 92821

Attention: David Michery, CEO

Email: david@mullenusa.com

 

With a copy (for informational purposes
only) to:

 

Manatt, Phelps & Phillips, LLP

695 Town Center Drive, 14th Floor

Costa Mesa, California 92626

Attn: Thomas J. Poletti

Email: tpoletti@manatt.com

 

If to the Transfer Agent:

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, NY 10004-1561

 

If to Buyer:

 

See Buyer’s
Schedule

 

or to such e-mail address and/or to the attention
of such other Person as the recipient party has specified by written notice given to each other party five (5) days prior to the effectiveness
of such change. A copy of the e-mail transmission containing the time, date and recipient e-mail address shall be rebuttable evidence
of receipt by e-mail.

 

(g)              
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and its successors
and assigns, including, as contemplated below, any assignee of any of the Securities. The Company shall not assign this Agreement or
any rights or obligations hereunder without the prior written consent of the Buyer, including, without limitation, by way of a Fundamental
Transaction.

 

    30 

     

    

 

 

(h)             
No Third Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and its permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, other than the Indemnitees
referred to in Section 10(k).

 

(i)              
Survival. The representations, warranties, agreements and covenants shall survive the Closing. Buyer shall be responsible
only for its representations, warranties, agreements and covenants hereunder.

 

(j)              
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

(k)              
Indemnification.

 

(i)                 In
consideration of Buyer’s execution and delivery of the Transaction Documents and acquiring the Securities thereunder and in
addition to all of the Company’s other obligations under the Transaction Documents, the Company shall defend, protect,
indemnify and hold harmless Buyer and each holder of any Securities and all of their stockholders, partners, members, officers,
directors, employees and direct or indirect investors and any of the foregoing Persons’ agents or other representatives
(including, without limitation, those retained in connection with the transactions contemplated by this Agreement) (collectively,
the “Indemnitees”) from and against any and all actions, causes of action, suits, claims, losses, costs,
penalties, fees, liabilities and damages, and reasonable and documented expenses in connection therewith (irrespective of whether
any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable
attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee as a result
of, or arising out of, or relating to (a) any misrepresentation or breach of any representation or warranty made by the Company in
any of the Transaction Documents, (b) any breach of any covenant, agreement or obligation of the Company contained in any of the
Transaction Documents or (c) any cause of action, suit, proceeding or claim brought or made against such Indemnitee by a third party
(including for these purposes a derivative action brought on behalf of the Company, but other than by an affiliate of Buyer) or
which otherwise involves such Indemnitee that arises out of or results from (i) the execution, delivery, performance or enforcement
of any of the Transaction Documents, (ii) any transaction financed or to be financed in whole or in part, directly or indirectly,
with the proceeds of the issuance of the Securities, (iii) any disclosure properly made by Buyer pursuant to Section 4(e), or (iv)
the status of Buyer or holder of the Securities either as an investor in the Company pursuant to the transactions contemplated by
the Transaction Documents or as a party to this Agreement (including, without limitation, as a party in interest or otherwise in any
action or proceeding for injunctive or other equitable relief), unless such action is based primarily upon a breach of Buyer’s
representations, warranties, or covenants under the Transaction Documents, or any agreements or understandings Buyer may have with
any such third party, or any violations by Buyer of state or federal securities laws or any conduct by Buyer which constitutes
fraud, gross negligence or willful misconduct. To the extent that the foregoing undertaking by the Company may be unenforceable for
any reason, the Company shall make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities
which is permissible under applicable law.

 

    31

     

    

 

(ii)             
Promptly after receipt by an Indemnitee under this Section 10(k) of notice of the commencement of any action or proceeding (including
any governmental action or proceeding) involving an Indemnified Liability, such Indemnitee shall, if a claim in respect thereof is to
be made against the Company under this Section 10(k), deliver to the Company a written notice of the commencement thereof, and the Company
shall have the right to participate in, and, to the extent the Company so desires, to assume control of the defense thereof with counsel
mutually satisfactory to the Company and the Indemnitee; provided, however, that an Indemnitee shall have the right to retain its own
counsel with the fees and expenses of such counsel to be paid by the Company if: (i) the Company has agreed in writing to pay such fees
and expenses; (ii) the Company shall have failed promptly to assume the defense of such Indemnified Liability and to employ counsel reasonably
satisfactory to such Indemnitee in any such Indemnified Liability; or (iii) the named parties to any such Indemnified Liability (including
any impleaded parties) include both such Indemnitee and the Company, and such Indemnitee shall have been advised by counsel that a conflict
of interest is likely to exist if the same counsel were to represent such Indemnitee and the Company (in which case, if such Indemnitee
notifies the Company in writing that it elects to employ separate counsel at the expense of the Company, then the Company shall not have
the right to assume the defense thereof and such counsel shall be at the expense of the Company), provided further, that in the case of
clause (iii) above the Company shall not be responsible for the reasonable fees and expenses of more than one (1) separate legal counsel
for such Indemnitee. The Indemnitee shall reasonably cooperate with the Company in connection with any negotiation or defense of any such
action or Indemnified Liability by the Company and shall furnish to the Company all information reasonably available to the Indemnitee
which relates to such action or Indemnified Liability. The Company shall keep the Indemnitee reasonably apprised at all times as to the
status of the defense or any settlement negotiations with respect thereto. The Company shall not be liable for any settlement of any action,
claim or proceeding effected without its prior written consent, provided, however, that the Company shall not unreasonably withhold, delay
or condition its consent. The Company shall not, without the prior written consent of the Indemnitee, consent to entry of any judgment
or enter into any settlement or other compromise which does not include as an unconditional term thereof the giving by the claimant or
plaintiff to such Indemnitee of a release from all liability in respect to such Indemnified Liability or litigation, and such settlement
shall not include any admission as to fault on the part of the Indemnitee. Following indemnification as provided for hereunder, the Company
shall be subrogated to all rights of the Indemnitee with respect to all third parties, firms or corporations relating to the matter for
which indemnification has been made. The failure to deliver written notice to the Company within a reasonable time of the commencement
of any such action shall not relieve the Company of any liability to the Indemnitee under this Section 10(k), except to the extent that
the Company is materially and adversely prejudiced in its ability to defend such action.

 

(iii)           
The indemnification required by this Section 10(k) 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 Indemnified Liabilities are incurred.

 

    32

     

    

 

(iv)            
 Notwithstanding any provision in this Agreement or any other Transaction Documents, the aggregate indemnification obligations
of the Company pursuant to this Section 10(k) shall not exceed 100% of the aggregate Closing Payments actually paid by the Buyer.

 

(v)              
The sole and exclusive remedies for any breach of any representation, warranty, covenant or agreement hereunder shall be the indemnification
provided by this Section 10(k), and Buyer expressly waives any other rights or remedies it may have; provided however, that equitable
relief, including remedies of specific performance and injunction, shall be available with respect to any matter where money damages would
not be sufficient to compensate Buyer or to preserve the rights of Buyer pending resolution of a dispute, and this Section 10(k) shall
not relieve the Company from liability for willful misconduct, gross negligence, bad faith, fraud or willful breach of any of its representations,
warranties, covenants or agreements set forth in this Agreement.

 

(l)                
Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rules of strict construction will be applied against any party. No specific representation or warranty shall limit
the generality or applicability of a more general representation or warranty. Each and every reference to share prices, Common Stock and
any other numbers in this Agreement that relate to the Common Stock shall be automatically adjusted for stock dividends, stock splits,
stock combinations and other similar transactions that occur with respect to the Common Stock after the date of this Agreement.

 

(m)            
Remedies. Buyer and each holder of any Securities shall have all rights and remedies set forth in the Transaction Documents
and all rights and remedies which such holders have been granted at any time under any other agreement or contract and all of the rights
which such holders have under any law. Any Person having any rights under any provision of this Agreement shall be entitled to enforce
such rights specifically (without posting a bond or other security, to the extent permitted by law), to recover damages by reason of any
breach of any provision of this Agreement and to exercise all other rights granted by law. Furthermore, the Company recognizes that in
the event that it fails to perform, observe, or discharge any or all of its obligations under the Transaction Documents, any remedy at
law may prove to be inadequate relief to Buyer. The Company therefore agrees that Buyer shall be entitled to seek specific performance
and/or temporary, preliminary and permanent injunctive or other equitable relief from any court of competent jurisdiction in any such
case without the necessity of proving actual damages and without posting a bond or other security.

 

(n)              
Exercise of Right. Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of)
the Transaction Documents, whenever Buyer exercises a right, election, demand or option under a Transaction Document and the Company does
not timely perform its related obligations within the periods therein provided, then Buyer may continue to exercise it other rights, elections,
demands and options hereunder and under any other Transaction Document from time to time as if such original right, election, demand or
option had not been exercised without prejudice to its future actions and rights and remedies.

 

    33

     

    

 

(o)               Payment
Set Aside; Currency. To the extent that the Company makes a payment or payments to Buyer hereunder or pursuant to any of the
other Transaction Documents or Buyer enforces or exercises its rights hereunder or thereunder, and such payment or payments or the
proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or
preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a
trustee, receiver or any other Person under any law (including, without limitation, any bankruptcy law, foreign, state or federal
law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such
enforcement or setoff had not occurred. Unless otherwise expressly indicated, all dollar amounts referred to in this Agreement and
the other Transaction Documents are in United States Dollars (“U.S. Dollars”), and all amounts owing under this
Agreement and all other Transaction Documents shall be paid in U.S. Dollars. All amounts denominated in other currencies (if any)
shall be converted into the U.S. Dollar equivalent amount in accordance with the Exchange Rate on the date of calculation.
 “Exchange Rate” means, in relation to any amount of currency to be converted into U.S. Dollars pursuant to this
Agreement, the U.S. Dollar exchange rate as published in the Wall Street Journal on the relevant date of calculation.

 

[signature
pages follow]

 

    34

     

    

 

IN WITNESS WHEREOF, Buyer
and the Company has caused its signature page to this Agreement to be duly executed as of the date first written above.

 

	 	COMPANY:
	 	 
	 	Mullen Technologies, Inc.
	 	 
	 	By:	/s/ David Michery 
	 	Name:	David Michery  
	 	Title:	CEO  

 

     

     

    

 

IN WITNESS WHEREOF,
Buyer and the Company has caused its signature page to this Agreement to be duly executed as of the date first written above.

 

	 	BUYER:
	 	 
	 	Esousa Holdings LLC
	 	 
	 	By:	/s/
Michael Wachs
	 	Name:	Michael Wachs
	 	Title:	Managing Member

 

     

     

    

 

BUYER SCHEDULE

 

Name of Buyer: ESOUSA HOLDINGS LLC

 

Aggregate Purchase Price:
Up to an aggregate of $30,000,000 in accordance with the following schedule:

 

	Closing Date	 	Closing Payment	 
	T	 	$	2,500,000	 
	T + 1 month	 	$	2,500,000	 
	T + 2 months	 	$	2,500,000	 
	T + 3 months	 	$	2,500,000	 
	T + 4 months	 	$	2,500,000	 
	T + 5 months	 	$	2,500,000	 
	T + 6 months	 	$	2,500,000	 
	T + 7 months	 	$	2,500,000	 
	T + 8 months	 	$	2,500,000	 
	T + 9 months	 	$	2,500,000	 
	T + 10 months	 	$	2,500,000	 
	T + 11 months	 	$	2,500,000	 
	Total	 	$	30,000,000	 

 

T = the date of the Initial
Closing in accordance with Section 1(b).

 

Shares of Common Stock to
be purchased and sold at each Closing: The number of Purchase Shares initially issued at each Closing shall be determined, subject
to adjustment, by multiplying 125% by (x) the applicable Closing Payment and then dividing by (y) the Closing Sale Price for the Trading
Day immediately prior to the applicable Closing Date. Such amount is subject to adjustment as provided in the Agreement.

 

Notice Contact Information

 

Esousa Holdings LLC

211 East 43rd Street

Suite 402

New York, NY 10017

Telephone: (646) 278-6785

Facsimile: (212) 732-1131

Email: michael@esousallc.com

Attention: Michael Wachs 

 

with a copy (for informational purposes only) to:

McDermott Will & Emery LLP

340 Madison Ave.

New York, NY 10173

Telephone: (212) 547-5885

E-mail: Rcohen@mwe.com

dwoodard@mwe.com

Attention: Robert Cohen, Esq.

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