Document:

Non-Qualified
Stock Option Agreement

 

This
Non-Qualified Stock Option Agreement (this “Agreement”) is made and entered into as of ___________, 20___,
by and between The Crypto Company, a Nevada corporation (the “Company”), and ______________________________
(the “Participant”).

 

Grant
Date: _____________________________________

 

Exercise
Price per Share: __________________________

 

Number
of Option Shares: _________________________

 

Expiration
Date: _________________________________

 

1.
Grant of Option.

 

1.1
Grant; Type of Option. The Company hereby
grants to the Participant an option (the “Option”) to purchase the total number of shares of Common Stock of
the Company equal to the number of Option Shares set forth above, at the Exercise Price set forth above. The Option is being granted
pursuant to the terms of the Company’s 2017 Equity Incentive Plan (the “Plan”). The Option is intended
to be a Non-qualified Stock Option and not an Incentive Stock Option within the meaning of Section 422 of the Internal
Revenue Code.

 

1.2
Consideration; Subject to Plan. The grant
of the Option is made in consideration of the services to be rendered by the Participant to the Company and is subject to the
terms and conditions of the Plan. Capitalized terms used but not defined herein will have the meaning ascribed to them in the
Plan.

 

2.
Exercise Period; Vesting.

 

2.1
Vesting Schedule. The Option will become
vested and exercisable with respect to ______ shares on __________________ until the Option is 100% vested. The unvested portion
of the Option will not be exercisable on or after the Participant’s termination of Continuous Service.

 

2.2
Expiration. The Option will expire on
the Expiration Date set forth above, or earlier as provided in this Agreement or the Plan.

 

3.
Termination of Continuous Service.

 

3.1
Termination for Reasons Other Than Cause, Death, Disability.
If the Participant’s Continuous Service is terminated for any reason other than Cause, death or Disability, the Participant
may exercise the vested portion of the Option, but only within such period of time ending on the earlier of (a) the date three
months following the termination of the Participant’s Continuous Service or (b) the Expiration Date.

 

    	 	 	 

    	 

    

 

3.2
Termination for Cause. If the Participant’s
Continuous Service is terminated for Cause, the Option (whether vested or unvested) shall immediately terminate and cease to be
exercisable.

 

3.3
Termination due to Disability. If the
Participant’s Continuous Service terminates as a result of the Participant’s Disability, the Participant may exercise
the vested portion of the Option, but only within such period of time ending on the earlier of (a) the date 12 months following
the Participant’s termination of Continuous Service or (b) the Expiration Date.

 

3.4
Termination due to Death. If the Participant’s
Continuous Service terminates as a result of the Participant’s death, or the Participant dies within a period following
termination of the Participant’s Continuous Service during which the vested portion of the Option remains exercisable, the
vested portion of the Option may be exercised by the Participant’s estate, by a person who acquired the right to exercise
the Option by bequest or inheritance or by the person designated to exercise the Option upon the Participant’s death, but
only within the time period ending on the earlier of (a) the date 12 months following the Participant’s death or (b) the
Expiration Date.

 

4.
Manner of Exercise.

 

4.1
Election to Exercise. To exercise the
Option, the Participant (or in the case of exercise after the Participant’s death or incapacity, the Participant’s
executor, administrator, heir or legatee, as the case may be) must deliver to the Company a notice of intent to exercise in the
manner designated by the Committee.

 

4.2
Payment of Exercise Price. The entire
Exercise Price of the Option shall be payable in full at the time of exercise in the manner designated by the Committee, which
may include, to the extent permitted by applicable statutes and regulations, either:

 

	 	(a)	in
    cash or by certified or bank check at the time the Option is exercised; 
	 	 	 
	 	(b)	by
    reduction in the number of shares otherwise deliverable upon exercise of such Option with a Fair Market Value equal to the
    aggregate Exercise Price at the time of exercise; 
	 	 	 
	 	(c)	by
    any combination of the foregoing methods; or 
	 	 	 
	 	(d)	in
    any other form of legal consideration that may be acceptable to the Committee. 

 

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4.3
Withholding. Prior to the issuance of shares upon the exercise of the Option, the Participant must make arrangements
satisfactory to the Company to pay or provide for any applicable federal, state and local withholding obligations of the Company.
The Participant may satisfy any federal, state or local tax withholding obligation relating to the exercise of the Option by any
of the following means:

 

	 	(a)	tendering
    a cash payment; 
	 	 	 
	 	(b)	authorizing
    the Company to withhold shares of Common Stock from the shares of Common Stock otherwise issuable to the Participant as a
    result of the exercise of the Option; provided, however, that no shares of Common Stock are withheld with a value exceeding
    the minimum amount of tax required to be withheld by law; or 
	 	 	 
	 	(c)	delivering
    to the Company previously owned and unencumbered shares of Common Stock.

 

The
Company has the right to withhold from any compensation paid to a Participant.

 

4.4
Issuance of Shares. Provided that the
exercise notice and payment are in form and substance satisfactory to the Company, the Company shall issue the shares of Common
Stock registered in the name of the Participant,
the Participant’s authorized assignee, or the Participant’s legal representative, and shall deliver certificates representing
the shares with the appropriate legends affixed thereto.

 

5.
No Right to Continued Employment; No Rights as Stockholder.
Neither the Plan nor this Agreement shall confer upon the Participant any right to be retained in any position, as an employee,
consultant or director of the Company. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion
of the Company to terminate the Participant’s Continuous Service at any time, with or without Cause. The Participant shall
not have any rights as a stockholder with respect to any shares of Common Stock subject to the Option prior to the date of exercise
of the Option.

 

6.
Transferability.
The Option is not transferable by the Participant other than to a designated beneficiary upon the Participant’s death or
by will or the laws of descent and distribution, and is exercisable during the Participant’s lifetime only by him or her.
No assignment or transfer of the Option, or the rights represented thereby, whether voluntary or involuntary, by operation of
law or otherwise (except to a designated beneficiary upon death by will or the laws of descent or distribution) will vest in the
assignee or transferee any interest or right herein whatsoever, but immediately upon such assignment or transfer the Option will
terminate and become of no further effect.

 

7.
Change in Control.

 

7.1
Acceleration of Vesting. Unless otherwise
determined by the Committee at the time of a Change in Control, a Change in Control shall have no effect on the Option.

 

7.2
Cash-out. In the event of a Change in
Control, the Committee may, in its discretion and upon at least ten (10) days’ advance notice to the Participant, cancel
the Option and pay to the Participant the value of the Option based upon the price per share of Common Stock
received or to be received by other stockholders of the Company in the event. Notwithstanding the foregoing, if at
the time of a Change in Control the Exercise Price of the Option equals or exceeds the price paid for a share of Common Stock
in connection with the Change in Control, the Committee may cancel the Option without the payment of consideration therefor.

 

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8.
Adjustments.
The shares of Common Stock subject to the Option may be adjusted or terminated in any manner as contemplated by Section 5 of the
Plan.

 

9.
Tax Liability and Withholding.
Notwithstanding any action the Company takes with respect to any or all income tax, social insurance, payroll tax, or other tax-related
withholding (“Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Participant’s
responsibility and the Company (a) makes no representation or undertakings regarding the treatment of any Tax-Related Items in
connection with the grant, vesting, or exercise of the Option or the subsequent sale of any shares acquired on exercise; and (b)
does not commit to structure the Option to reduce or eliminate the Participant’s liability for Tax-Related Items.

 

10.
Compliance with Law.
The exercise of the Option and the issuance and transfer of shares of Common Stock shall be subject to compliance by the Company
and the Participant with all applicable requirements of federal and state securities laws and with all applicable requirements
of any stock exchange on which the Company’s shares of Common Stock may be listed. No shares of Common Stock shall be issued
pursuant to this Option unless and until any then applicable requirements of state or federal laws and regulatory agencies have
been fully complied with to the satisfaction of the Company and its counsel. The Participant understands that the Company is under
no obligation to register the shares of Common Stock with the Securities and Exchange Commission, any state securities commission
or any stock exchange to effect such compliance.

 

11.
Notices.
Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Secretary of
the Company at the Company’s principal corporate offices. Any notice required to be delivered to the Participant under this
Agreement shall be in writing and addressed to the Participant at the Participant’s address as shown in the records of the
Company. Either party may designate another address in writing (or by such other method approved by the Company) from time to
time.

 

12.
Governing Law.
This Agreement will be construed and interpreted in accordance with the laws of the state of incorporation of the Company (as
applicable from time to time), without regard to conflict of law principles.

 

13.
Interpretation.
Any dispute regarding the interpretation of this Agreement shall be submitted by the Participant or the Company to the Committee
for review. The resolution of such dispute by the Committee shall be final and binding on the Participant and the Company.

 

14.
Options Subject to Plan.
This Agreement is subject to the Plan as approved by the Company’s stockholders. The terms and provisions of the Plan as
it may be amended from time to time are hereby incorporated herein by reference. In the event of a conflict between any term or
provision contained herein and a term or provision of the Plan, the applicable terms and provisions of the Plan will govern and
prevail.

 

15.
Successors and Assigns.
The Company may assign any of its rights under this Agreement. This Agreement will be binding upon and inure to the benefit of
the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein, this Agreement will be binding
upon the Participant and the Participant’s beneficiaries, executors, administrators and the person(s) to whom the Option
may be transferred by will or the laws of descent or distribution.

 

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16.
Severability.
The invalidity or unenforceability of any provision of the Plan or this Agreement shall not affect the validity or enforceability
of any other provision of the Plan or this Agreement, and each provision of the Plan and this Agreement shall be severable and
enforceable to the extent permitted by law.

 

17.
Discretionary Nature of Plan.
The Plan is discretionary and may be amended, cancelled or terminated by the Company at any time, in its discretion. The grant
of the Option in this Agreement does not create any contractual right or other right to receive any Options or other Awards in
the future. Future Awards, if any, will be at the sole discretion of the Company. Any amendment, modification, or termination
of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with
the Company.

 

18.
Amendment.
The Committee has the right to amend, alter, suspend, discontinue or cancel the Option, prospectively or retroactively; provided,
that, no such amendment shall adversely affect the Participant’s material rights under this Agreement without the Participant’s
consent.

 

19.
No Impact on Other Benefits.
The value of the Participant’s Option is not part of his or her normal or expected compensation for purposes of calculating
any severance, retirement, welfare, insurance or similar employee benefit.

 

20.
Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together will constitute
one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile transmission, by electronic
mail in portable document format (.pdf), or by any other electronic means intended to preserve the original graphic and pictorial
appearance of a document, will have the same effect as physical delivery of the paper document bearing an original signature.

 

21.
Acceptance.
The Participant hereby acknowledges receipt of a copy of the Plan and this Agreement. The Participant has read and understands
the terms and provisions thereof, and accepts the Option subject to all of the terms and conditions of the Plan and this Agreement.
The Participant acknowledges that there may be adverse tax consequences upon exercise of the Option or disposition of the underlying
shares and that the Participant should consult a tax advisor prior to such exercise or disposition.

 

[signature
page follows]

 

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

 

	 	THE CRYPTO COMPANY, a Nevada corporation
	 	 
	 	By:	                
	 	Name:	 
	 	Title:	 
	 	 	 
	 	PARTICIPANT
	 	 
	 	By:	 
	 	Name:Exhibit
A

 

FORM
OF COMMON STOCK PURCHASE WARRANT

 

THE
SECURITIES EVIDENCED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF WITHOUT (i) EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO, (ii) AN OPINION OF COUNSEL OR OTHER EVIDENCE, REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION
IS NOT REQUIRED, OR (iii) RECEIPT OF NO-ACTION LETTERS FROM THE APPROPRIATE GOVERNMENTAL AUTHORITIES.

 

	[●],
    2017	No.
    W-__

 

BROWNIE’S
MARINE GROUP, INC.

 

FORM
OF COMMON STOCK PURCHASE WARRANT

 

This
certifies that, for good and valuable consideration, receipt of which is hereby acknowledged, [•] (“Holder”)
is entitled to purchase, subject to the terms and conditions of this Warrant, from Brownie’s Marine Group, Inc., a Florida
corporation (the “Company”), [•] fully paid and nonassessable shares of the Company’s
common stock, par value $0.0001 per share (“Common Stock”). Holder shall be entitled to purchase the
shares of Common Stock in accordance with Section 2 at any time subsequent to the date of this Warrant set forth above
and prior to the Expiration Date (as defined below). The shares of Common Stock of the Company for which this Warrant is exercisable,
as adjusted from time to time pursuant to the terms hereof, are hereinafter referred to as the “Shares.”
This Warrant is one of a series of Warrants included in the Units issued and sold pursuant to the terms and conditions of the
Company’s ______________ dated ___________ (the “Purchase Agreement”), as may be supplemented
from time to time.

 

1.
Exercise Period; Price.

 

1.1
Exercise Period. This Warrant shall be immediately exercisable and the exercise period (“Exercise Period”)
shall terminate at 5:00 p.m. Pacific time on [●], 2019 (the “Expiration Date”).

 

1.2
Exercise Price. The initial purchase price for each of the Shares shall be $0.0115 per share. Such price shall be
subject to adjustment pursuant to the terms hereof (such price, as adjusted from time to time, is hereinafter referred to as the
“Exercise Price”).

 

2.
Exercise and Payment; Exercise Limitations.

 

2.1
Exercise and Payment. At any time after the date of this Warrant, this Warrant may be exercised, in whole or in
part, from time to time by the Holder, during the term hereof, by surrender of this Warrant and the Notice of Exercise attached
hereto as Annex I, duly completed and executed by the Holder, to the Company at the principal executive offices of the
Company, together with payment in the amount obtained by multiplying the Exercise Price then in effect by the number of Shares
thereby purchased, as designated in the Notice of Exercise. Payment may be in cash, wire transfer or by check payable to the order
of the Company in immediately available funds. If not exercised in full, this Warrant must be exercised for a whole number of
Shares.

 

    	 

     

    

 

2.2
Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall
not have the right to exercise any portion of this Warrant, pursuant to this Section 2 or otherwise, to the extent that after
giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the
Holder’s affiliates, and any other persons acting as a group together with the Holder or any of the Holder’s affiliates
(such persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership
Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned
by the Holder and its affiliates and Attribution Parties shall include the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock
which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant beneficially owned by the Holder
or any of its affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or nonconverted portion of
any other securities of the Company subject to a limitation on conversion or exercise analogous to the limitation contained herein
beneficially owned by the Holder or any of its affiliates or Attribution Parties. Except as set forth in the preceding sentence,
for purposes of this Section 2(e), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act
and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing
to the Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and the Holder is solely responsible
for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2.2
applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together
with any affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion
of the Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this
Warrant is exercisable (in relation to other securities owned by the Holder together with any affiliates and Attribution Parties)
and of which portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company
shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder. For purposes of this Section 2.2, in determining the number of outstanding shares
of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s
most recent periodic or annual report filed with the Securities and Exchange Commission, as the case may be, (B) a more recent
public announcement by the Company or (C) a more recent written notice by the Company or the transfer agent setting forth the
number of shares of Common Stock outstanding. In any case, the number of outstanding shares of Common Stock shall be determined
after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its affiliates
or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company,
may increase or decrease the Beneficial Ownership Limitation provisions of this Section 2.2, provided that the Beneficial Ownership
Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to
the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2.2
shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after such
notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented in a manner otherwise
than in strict conformity with the terms of this Section 2.2 to correct this paragraph (or any portion hereof) which may be defective
or inconsistent with the intended Beneficial Ownership Limitation herein contained or to make changes or supplements necessary
or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor
holder of this Warrant.

 

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3.
Reservation of Shares. The Company hereby agrees that at all times there shall be reserved for issuance and delivery
upon exercise of this Warrant such number of Shares or other shares of capital stock of the Company from time to time issuable
upon exercise of this Warrant . All such Shares shall be duly authorized, and when issued upon such exercise, shall be validly
issued, fully paid and non-assessable, free and clear of all liens, security interests, charges and other encumbrances or restrictions
on sale and free and clear of all preemptive rights.

 

4.
Delivery of Stock Certificates. Within three (3) trading days after exercise, in whole or in part, of this Warrant,
the Company shall issue in the name of and deliver to the Holder a certificate or certificates for the number of fully paid and
nonassessable Shares which the Holder shall have requested in the Notice of Exercise. If this Warrant is exercised in part, the
Company shall deliver to the Holder a new Warrant (dated the date hereof and of like tenor) for the unexercised portion of this
Warrant at the time of delivery of such stock certificate or certificates.

 

5.
No Fractional Shares. This Warrant must be exercised for a whole number of Shares. No fractional shares or scrip representing
fractional Shares will be issued upon exercise of this Warrant. Any fractional Share which otherwise might be issuable on the
exercise of this Warrant as a result of the adjustment provisions Section 9 hereof will be rounded up to the nearest whole
Share.

 

6.
Charges, Taxes and Expenses. The Company shall pay all transfer taxes or other incidental charges, if any, in connection
with the transfer of the Shares purchased pursuant to the exercise hereof from the Company to the Holder.

 

7.
Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant, and in case of loss, theft or destruction, of indemnity or
security reasonably satisfactory to the Company, and upon reimbursement to the Company of all reasonable expenses incidental thereto,
and upon surrender and cancellation of this Warrant, if mutilated, the Company will make and deliver a new Warrant of like tenor
and dated as of such cancellation, in lieu of this Warrant.

 

8.
Saturdays, Sundays, Holidays, Etc. If the last or appointed day for the taking of any action or the expiration of any
right required or granted herein shall be a Saturday or a Sunday or shall be a legal holiday, then such action may be taken or
such right may be exercised on the next succeeding weekday which is not a legal holiday.

 

9.
Adjustment of Exercise Price and Number of Shares. The Exercise Price and the number of and kind of securities purchasable
upon exercise of this Warrant shall be subject to adjustment from time to time as follows:

 

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9.1
Subdivisions, Combinations and Other Issuances. If the Company shall at any time after the date hereof but prior
to the expiration of this Warrant subdivide its outstanding securities as to which purchase rights under this Warrant exist, by
split-up or otherwise, or combine its outstanding securities as to which purchase rights under this Warrant exist, the number
of Shares as to which this Warrant is exercisable as of the date of such subdivision, split-up or combination shall forthwith
be proportionately increased in the case of a subdivision, or proportionately decreased in the case of a combination. Appropriate
adjustments shall also be made to the Exercise Price, but the aggregate purchase price payable for the total number of Shares
purchasable under this Warrant as of such date shall remain the same.

 

9.2
Stock Dividend. If at any time after the date hereof the Company declares a dividend or other distribution on its
Common Stock payable in Common Stock or other securities or rights convertible into Common Stock (“Common Stock Equivalents”)
without payment of any consideration by such holder for the additional shares of Common Stock or the Common Stock Equivalents
(including the additional shares of Common Stock issuable upon exercise or conversion thereof), then the number of Shares for
which this Warrant may be exercised shall be increased as of the record date (or the date of such dividend distribution if no
record date is set) for determining which holders of Common Stock shall be entitled to receive such dividend, in proportion to
the increase in the number of outstanding shares (and shares of Common Stock issuable upon conversion of all such securities convertible
into Common Stock) of Common Stock as a result of such dividend, and the Exercise Price shall be adjusted so that the aggregate
amount payable for the purchase of all the Shares issuable hereunder immediately after the record date (or on the date of such
distribution, if applicable), for such dividend shall equal the aggregate amount so payable immediately before such record date
(or on the date of such distribution, if applicable).

 

9.3
Other Distributions. If at any time after the date hereof the Company distributes to holders of its Common Stock,
other than as part of its dissolution or liquidation or the winding up of its affairs, any shares of its capital stock, any evidence
of indebtedness or any of its assets (other than cash, Common Stock or Common Stock Equivalents), then the Company may, at its
option, either (i) decrease the Exercise Price of this Warrant by an appropriate amount based upon the value distributed on each
share of Common Stock as determined in good faith by the Company’s Board of Directors, or (ii) provide by resolution of
the Company’s Board of Directors that on exercise of this Warrant, the Holder hereof shall thereafter be entitled to receive,
in addition to the shares of Common Stock otherwise receivable on exercise hereof, the number of shares or other securities or
property which would have been received had this Warrant at the time been exercised.

 

9.4
Effect of Consolidation, Merger or Sale. In case of any reclassification, capital reorganization, or change of securities
of the class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from
no par value to par value, or as a result of any subdivision, combination, stock dividend or other distribution provided for in
Sections 9.1, 9.2 and 9.3 above), or in case of any consolidation or merger of the Company with or into any
corporation (other than a consolidation or merger with another corporation in which the Company is the acquiring and the surviving
corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this
Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing
corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new Warrant (in form and substance
satisfactory to the holder of this Warrant), or the Company shall make appropriate provision without the issuance of a new Warrant,
so that the holder of this Warrant shall have the right to receive, at a total purchase price not to exceed that payable upon
the exercise of the unexercised portion of this Warrant, and in lieu of the Shares theretofore issuable upon exercise of this
Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, capital
reorganization, change, merger or sale by a holder of the number of Shares then purchasable under this Warrant. In any such case,
appropriate provisions shall be made with respect to the rights and interest of Holder so that the provisions hereof shall thereafter
be applicable to any shares of stock or other securities and property deliverable upon exercise hereof, or to any new Warrant
delivered pursuant to this Section 10.4, and appropriate adjustments shall be made to the Exercise Price per share payable
hereunder, provided, that the aggregate Exercise Price shall remain the same. The provisions of this Section 9.4 shall
similarly apply to successive reclassifications, capital reorganizations, changes, mergers and transfers.

 

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10.
Notice of Adjustments; Notices. Whenever the Exercise Price or number of Shares purchasable hereunder shall be adjusted
pursuant to Section 9 hereof, the Company shall execute and deliver to the Holder a certificate setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated and
the Exercise Price and number of and kind of securities purchasable hereunder after giving effect to such adjustment, and shall
cause a copy of such certificate to be mailed (by first class mail, postage prepaid) to the Holder.

 

11.
Rights As Shareholder; Notice to Holders. Nothing contained in this Warrant shall be construed as conferring upon the
Holder or his or its transferees the right to vote or to receive dividends or to consent or to receive notice as a shareholder
in respect of any meeting of shareholders for the election of directors of the Company or of any other matter, or any rights whatsoever
as shareholders of the Company. The Company shall give notice to the Holder by registered mail if at any time prior to the expiration
or exercise in full of the Warrants, any of the following events shall occur:

 

(i)
a dissolution, liquidation or winding up of the Company shall be proposed; 

 

(ii)
a capital reorganization or reclassification of the Common Stock (other than a change in par value, or from par value to no par
value, or from no par value to par value, or as a result of any subdivision, combination, stock dividend or other distribution)
or any consolidation or merger of the Company with or into another corporation (other than a consolidation or merger with another
corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification
or change of outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all or substantially all
of the assets of the Company; or

 

(iii)
a taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof
who are entitled to receive any dividend (other than a cash dividend) for other distribution, any right to subscribe for, purchase
or otherwise acquire any shares of stock of any class or any other securities or property, or to receive any other rights.

 

Such
giving of notice shall be simultaneous with (or in any event, no later than) the giving of notice to holders of Common Stock.
Such notice shall specify the record date or the date of closing the stock transfer books, as the case may be. Failure to provide
such notice shall not affect the validity of any action contemplated in this Section 11.

 

12.
Restricted Securities. The Holder understands that this Warrant and the Shares purchasable hereunder constitute “restricted
securities” under the federal securities laws inasmuch as they are, or will be, acquired from the Company in transactions
not involving a public offering and accordingly may not, under such laws and applicable regulations, be resold or transferred
without registration under the Act, or an applicable exemption from such registration. The Holder further acknowledges that a
securities legend to the foregoing effect shall be placed on any Shares issued to the Holder upon exercise of this Warrant.

 

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13.
Disposition of Shares; Transferability.

 

13.1
Transfer. This Warrant shall be transferable only on the books of the Company, upon delivery thereof duly endorsed
by the Holder or by its duly authorized attorney or representative, accompanied by proper evidence of succession, assignment or
authority to transfer. Upon any registration of transfer, the Company shall execute and deliver new Warrants to the person entitled
thereto.

 

13.2
Rights, Preferences and Privileges of Common Stock. The powers, preferences, rights, restrictions and other matters
relating to the shares of Common Stock will be as determined in the Company’s Articles of Incorporation, as amended, as
then in effect.

 

14.
Miscellaneous.

 

14.1
Binding Effect. This Warrant and the various rights and obligations arising hereunder shall be binding upon and
inure to the benefit of the parties hereto and their respective successors and assigns.

 

14.2
Entire Agreement. This Warrant and the Purchase Agreement of even date herewith constitute the entire agreement
between the parties with respect to the subject matter hereof and supersede all prior and contemporaneous agreements, whether
oral or written, between the parties hereto with respect to the subject matter hereof.

 

14.3
Amendment and Waiver. Any term of this Warrant may be amended and the observance of any term hereof may be waived
(either generally or in a particular instance and either retroactively or prospectively), with the written consent of the Company
and the Holders representing a majority-in-interest of the shares of Common Stock underlying the Warrants pursuant to the Purchase
Agreement. Any waiver or amendment effected in accordance with this Section 14.3 shall be binding upon the Holder and the Company.

 

14.4
Governing Law. This Agreement shall be governed by and construed under the laws of the State of Florida without
reference to the conflicts of law principles thereof. The exclusive jurisdiction for any legal suit, action or proceeding arising
out of or related to this Warrant shall be either the Florida State Supreme Court, County of Broward, or in the United States
District Court for the Southern District of Florida.

 

14.5
Headings. The headings in this Agreement are for convenience only and shall not alter or otherwise affect the meaning
hereof.

 

14.6
Severability. If one or more provisions of this Warrant are held to be unenforceable under applicable law, such
provision shall be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision were so
excluded and the balance shall be enforceable in accordance with its terms.

 

14.7
Notices. Unless otherwise provided, any notice required or permitted under this Warrant shall be given in the same
manner as provided in the Agreement.

 

    	6

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed and delivered this Warrant as of the date appearing on the first page of
this Warrant.

 

	 	THE
    COMPANY:
	 	 	 
	 	BROWNIE’S
    MARINE GROUP, INC.
	 	 	 
	 	By:	
	 	 	Robert
    M. Carmichael, Chief Executive Officer

 

    	7

     

    

 

ANNEX
I

 

NOTICE
OF EXERCISE

 

To:
Social Reality Inc.

 

1.
The undersigned Holder hereby elects to purchase _____________ shares of Common Stock, $0.0001 par value per share (the “Shares”)
of Brownie’s Marine Group, Inc., a Florida corporation (the “Company”), pursuant to the terms
of the attached Warrant. The Holder shall make payment of the Exercise Price by delivering the sum of $____________, in lawful
money of the United States, to the Company in accordance with the terms of the Warrant.

 

2.
Please issue and deliver certificates representing the Warrant Shares purchased hereunder to Holder:_________________________________,Address:__________________________________
in the following denominations: ____________________________.

 

Taxpayer
ID No.: __________________________________

 

3.
Please issue a new Warrant for the unexercised portion of the attached Warrant, if any, in the name of the undersigned.

 

	Holder:	 	 
	Dated:	 	 
	By:	 	 
	Its:	 	 
	Address:	 	 

 

4.
The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933,
as amended.

 

[SIGNATURE
OF HOLDER]

 

	Name
    of Investing Entity: 	 

	Signature
    of Authorized Signatory of Investing Entity:	 

	Name
    of Authorized Signatory: 	 

	Title
    of Authorized Signatory: 	 

	Date:

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