Document:

Exhibit 4.9

 

PLACEMENT
AGENT WARRANT AGREEMENT

 

WARRANT AGREEMENT dated as of January 29,
2014, between Armada Water Assets, Inc., a Nevada corporation (the “Company”), and Aegis Capital Corp. (the “Placement
Agent”).

 

WITNESSETH

 

WHEREAS, the Company proposes to issue to
the Placement Agent, or its designees, warrants (“Warrants”) to purchase shares of common stock, $0.0001 par value,
of the Company (“Common Stock”); and

 

WHEREAS, the Warrants to be issued pursuant
to this Agreement will be issued by the Company to the Placement Agent, or its designees, in consideration for, and as part of
the Placement Agent’s compensation in connection with the Placement Agency Agreement between the Company and Placement Agent,
dated November 27, 2013 (the “Agreement Date”), pursuant to which the Placement Agent agreed to conduct on behalf of
the Company, a private placement offering (the “Offering”) of convertible promissory notes of the Company (the “Notes”)
in the amount, and on the terms described within a Securities Purchase Agreement of the Company dated November 27, 2013 (the “November
27, 2013 SPA”);

 

NOW, THEREFORE, in consideration of the
premises, the payment by Placement Agent to the Company of ONE DOLLAR, the agreements herein set forth and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.          Grant.
The Holders (as defined below) are hereby granted the right to purchase, at any time from the date hereof until 5:30 p.m., New
York time on the fifth anniversary of this Agreement (such period, the “Warrant Exercise Term”), such number of shares
of Common Stock of the Company as are indicated at Section 1.1 below, at an initial exercise price per share (subject to adjustment
as provided in Section 7 hereof) as indicated at Section 5.1 below, subject to the terms and conditions of this Agreement, provided,
however, in the event that (a) the Company undertakes an initial public offering of newly issued shares of its common stock in
an underwritten transaction (a “Public Offering”) within one hundred eighty (180) days hereof; and (b) the Placement
Agent is an underwriter in such Public Offering, then, and in that event, the Warrant Exercise Term of this Warrant shall be modified
such that the Holder shall not be permitted to exercise this Warrant until one year from the date of completion of such Public
Offering, however, with no alteration of the expiration of the Warrant Exercise Term.

 

1.1           Warrant
Shares. The Holders are hereby granted the right to purchase at any time during the Warrant Exercise Term, either: (i) to the
extent there is no Public Offering that occurs within one year from the date of grant hereof, 72,500 shares of Common Stock (as
subject to adjustment as provided in Section 7 hereof); or (ii) to the extent the Company completes a Public Offering within one
year from the date of grant hereof, that number of shares of Common Stock as are equal to $72,500 divided by the IPO Exercise Price
(as defined below).

 

    	 

    	 

    

 

2.          Warrant
Certificates. The Warrant certificates (the “Warrant Certificates”) delivered and to be delivered pursuant to this
Agreement shall be in the form set forth in Exhibit A, attached hereto and made a part hereof, with such appropriate insertions,
omissions, substitutions, and other variations as required or permitted by this Agreement.

 

3.          Exercise
of Warrant. At any time after the date hereof and on or before the expiration of the Warrant Exercise Term, each Holder, in
accordance with the terms hereof, may exercise each Warrant, by delivering this Warrant to the Company during normal business hours
at the Company’s principal office together with the Election to Purchase, in the form attached hereto as Exhibit B (the “Election
to Purchase”), duly executed, and subject to Section 3.2, payment of the Exercise Price per share for the number of shares
to be purchased, as specified therein. The purchase rights represented by each Warrant Certificate are exercisable at the option
of the Holder thereof, in whole or in part (but not as to fractional shares of the Common Stock underlying the Warrants). In the
case of purchase of less than all the shares of Common Stock purchasable under any Warrant Certificate, the Company shall cancel
said Warrant Certificate upon the surrender thereof and shall execute and deliver a new Warrant Certificate of like tenor for the
balance of the shares of Common Stock.

 

3.1           Method
of Exercise. The Warrants are exercisable at an initial exercise price (subject to adjustment as provided in Section 7 hereof)
of $1.50 per share of Common Stock (subject to Section 5.1 hereafter) payable by wire transfer of immediately available funds or
as set forth in Section 3.2. Upon surrender of a Warrant Certificate with the Form of Election to Purchase duly executed, together
with payment of the Exercise Price (as hereinafter defined) for the shares of Common Stock issuable upon exercise of the Warrants
(the “Warrant Shares”) at the Company's principal offices at 2425 Fountain View Drive, Suite 300, Houston, TX, 77057
(or such other office as the Company may notify the Holder (as defined below) from time to time), Placement Agent or its designee,
as the registered holder of a Warrant Certificate (“Holder” or “Holders”) shall be entitled to receive
a certificate or certificates for the shares of Common Stock so purchased.

 

3.2           Cashless
Exercise of Warrant. In addition to the method of exercise set forth in Section 3.1 and in lieu of any cash payment required
thereunder, the Holder(s) of the Warrant shall have the right at any time and from time to time, provided that the Common Stock
is registered under the Securities Exchange Act of 1934 (the “Exchange Act”), to exercise the Warrants in full or in
part by surrendering the Warrant Certificate in the manner specified in Section 3.1 in exchange for the number of shares of Common
Stock equal to the product of (x) the number of shares as to which the Warrants are being exercised multiplied by (y) a fraction,
the numerator of which is the Market Price (as hereinafter defined) per share of the Common Stock less the Exercise Price per share
and the denominator of which is such Market Price per share.

 

3.3           Solely
for the purposes of this Section 3.2, “Market Price” shall be calculated as either (i) the closing sales price on the
trading day immediately preceding the date on which the annexed Form of Election is deemed to have been sent to the Company pursuant
to Section 12 hereof (“Notice Date”) or (ii) as the average of the closing sales price for each of the five (5) trading
days preceding the Notice Date, whichever of (i) or (ii) is greater.

 

    	2

    	 

    

 

4.          Issuance
of Certificates. Upon the exercise of the Warrants, the issuance of certificates for shares of Common Stock or other securities,
properties or rights underlying such Warrants shall be made forthwith (and in any event such issuance shall be made within five
business days thereafter) without charge to the Holder thereof including, without limitation, any tax which may be payable in respect
of the issuance thereof, and such certificates shall (subject to the provisions of Section 5 and 7 hereof) be issued in the name
of, or in such names as may be directed by, the Holder thereof; provided, however, that the Company shall not be required to pay
any tax which may be payable in respect to any transfer involved in the issuance and delivery of any such certificates in a name
other than that of the Holder and the Company shall not be required to issue or deliver such certificates unless or until the person
or people requesting the issuance thereof shall have paid to the Company the amount of such tax or shall be established to the
satisfaction of the Company that such tax has been paid.

 

The Warrant Certificates and the certificates
representing the shares of Common Stock (and/or other securities, property or rights issuable upon exercise of the Warrants) shall
be executed on behalf of the Company by the manual or facsimile signature of the then present Chairman or Vice Chairman of the
Board of Directors, Chief Executive Officer or President or Vice President of the Company under its corporate seal reproduced thereon,
attested to by the manual or facsimile signature of the then present Secretary or Assistant Secretary of the Company. Warrant Certificates
shall be dated the date of execution by the Company upon initial issuance, division, exchange, substitution or transfer.

 

5.          Exercise
Price.

 

5.1           Initial
and Adjusted Exercise Price. Except otherwise provided in Section 7 hereof, the Warrants shall be exercisable to purchase Common
Stock at an initial exercise price per share of either: (i) $1.50, to the extent there is no Public Offering that occurs within
one year from the date of grant hereof; or (ii) to the extent the Company completes a Public Offering within one year from the
date of grant hereof, an exercise price per share equal to one hundred and fifty percent (150%) of the conversion price per share
of Common Stock pursuant to the Notes, i.e. 105% of the initial Public Offering price (the “IPO Exercise Price). The adjusted
exercise price shall be the price which shall result from time to time from any and all adjustments of the initial exercise price
in accordance with the provisions of Section 7 hereof.

 

5.2           Exercise
Price. The term “Exercise Price” herein shall mean the initial exercise price or the adjusted exercise price, depending
upon the context.

 

6.          Registration.

 

6.1           Registration
Under the Securities Act of 1933. The Warrants and the Warrant Shares (collectively, the “Warrant Securities”)
have not been registered under the Securities Act of 1933 (the “Act”) for public resale. Upon exercise, in part of
in whole, of the Warrants, certificates representing the shares of Common Stock and any of the other securities issuable upon exercise
of the Warrants shall bear the following legend:

 

    	3

    	 

    

 

The Securities represented by this certificate have
not been registered under the Securities Act of 1933 ("Act") for public resale, and may not be offered or sold except
pursuant to (i) an effective registration statement under the Act, (ii) to the extent applicable, Rule 144 under the Act (or any
similar rule under such Act relating to the disposition of securities), or (iii) an opinion of counsel, if such opinion shall be
reasonably satisfactory to the issuer, that an exemption from registration under such Act is available.

 

6.2           Piggyback
Registration.

 

(a)          If,
at any time commencing after the date hereof until the expiration of the Warrant Exercise Term, the Company proposes to register
any of its securities under the Act (other than in connection with a benefit plan, merger or pursuant to Form S-8, S-4 or comparable
registration statement that is not intended to register the sale of securities), it will give written notice by registered mail,
at least thirty (30) days prior to the filing of each such registration statement (a “Registration Statement”), to
Placement Agent and to all other Holders of the Warrant Securities, of its intention to do so. If Placement Agent or other Holders
of the Warrant Securities notify the Company within twenty (20) days after receipt of any such notice of its or their desire to
include any Warrant Shares in such proposed Registration Statement, the Company shall afford Placement Agent and such Holders of
the Warrant Securities the opportunity to have any such Warrant Shares registered under such Registration Statement; provided,
however, the Company shall not be required to register for sale, and the Placement Agent and any other Holders shall not have the
right to request that the Company include for sale any Warrant Securities in an underwritten initial public offering by the Company.
Furthermore, in the event that any registration pursuant to this Section 6.2(a) shall be, in whole or in part, an underwritten
public offering of Common Stock on behalf of the Company, and the managing underwriters advise the Company in writing that in their
opinion the number of securities requested to be included in such registration exceeds the number which can be offered or sold
in an orderly manner in such offering within a price range acceptable to the Company, the Company shall include in such registration
(i) first, the securities the Company proposes to sell, (ii) second, the re-offer of other outstanding shares requested to be included
in such registration; and third, the Warrant Securities, however, only to the extent that the number of Warrant Securities to be
registered will not, in the opinion of the managing underwriters, adversely affect the offering of the other securities pursuant
to clauses (i) and (ii) above.

 

(b)          Notwithstanding
anything to the contrary contained herein, the Company’s obligation in Section 6.2(a) above shall extend only to the inclusion
of the Warrant Securities in a Registration Statement filed under the Securities Act. The Company shall have no obligation to assure
the terms and conditions of distribution, to obtain a commitment from an underwriter relative to the sale of the Warrant Securities
or to otherwise assume any responsibility for the manner, price or terms of the distribution of the Warrant Securities. Furthermore,
the Company shall not be restricted in any manner from including within the Registration Statement the distribution, the issuance
or resale of any of its or any other securities.

 

(c)          Notwithstanding
the provisions of this Section 6.2, the Company shall have the right to any time after it shall have given written notice pursuant
to this Section 6.2 (irrespective of whether a written request for inclusion of any such securities shall have been made) to elect
to postpone or not to file any such proposed Registration Statement, or to withdraw the same after filing but prior to the effective
date thereof.

 

    	4

    	 

    

 

(d)          All
expenses (other than underwriting discounts and commissions) incurred in connection with registration, filings or qualification
pursuant to the first registration request made pursuant to subsection (a) of this Section 6.2, including, without limitation,
all registration, listing, filing, and qualification fees, printers and accounting fees and the fees and disbursements of counsel
for the Holders shall be borne by the Company.

 

6.3           Covenants
of the Company with Respect to Registration. In connection with any registration under Section 6.2 hereof, the Company covenants
and agrees as follows:

 

(a)          The
Company shall use its best efforts to have any Registration Statement declared effective at the earliest possible time, and shall
furnish each Holder desiring to sell Warrant Shares such number of prospectuses as shall reasonably be requested.

 

(b)          The
Company shall pay all fees and expenses in connection with all Registration Statements filed pursuant to Section 6.2 hereof including,
without limitation, the Company's legal and accounting fees, printing expenses, blue sky fees and expenses; and the Holder shall
be responsible for its costs including fees and expenses of Holder(s)' counsel, and including any underwriting or selling commissions
or other charges of any broker-dealer acting on behalf of Holder(s).

 

(c)          The
Company will take all necessary action which may be required in qualifying or registering the Warrant Shares included in the Registration
Statement for offering and sale under the securities or blue sky laws of such states as reasonably are requested by the Holder(s),
provided that the Company shall not be obligated to execute or file any general consent to service or process or to qualify as
a foreign corporation to do business under the laws of any such jurisdiction.

 

(d)          The
Company shall indemnify the Holder(s) of the Warrant Shares to be sold pursuant to any Registration Statement and each person,
if any, who controls such Holders within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act, against all
loss, claim, damage, expense or liability (including all expenses reasonably incurred in investigating, preparing or defending
against any claim whatsoever) to which any of them may become subject.

 

(e)          The
Holder(s) of the Warrant Shares to be sold pursuant to a Registration Statement, and their successors and assigns, shall severally,
and not jointly, indemnify the Company, its officers and directors and each person, if any, who controls the Company within the
meaning of Section 15 of the Act or Section 20 (a) of the Exchange Act, against all loss, claim, damage or expense or liability
(including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) to which they
may become subject under the Act, the Exchange Act or otherwise, arising from information furnished by or on behalf of such Holders,
or their successors or assigns, for specific inclusion in such a Registration Statement.

 

(f)          Nothing
contained in this Agreement shall be construed as requiring the Holder(s) to exercise their Warrants prior to the initial filing
of any Registration Statement or the effectiveness thereof.

 

    	5

    	 

    

 

(g)          The
Company shall furnish to each Holder participating in an offering including Warrant Shares, pursuant to Section 6.2 hereof, and
to each underwriter, if any, a signed counterpart, addressed to such Holder or underwriter, of (i) an opinion of counsel to the
Company, dated the effective date of such Registration Statement (and, if such registration includes an underwritten public offering,
an opinion dated the date of the closing under the underwriting agreement), and (ii) a "cold comfort" letter dated the
effective date of such Registration Statement (and, if such registration includes an underwritten public offering, a letter dated
the date of the closing under the underwriting agreement) signed by the independent public accountants who have issued a report
on the Company's financial statements included in such Registration Statement, in each case covering substantially the same matters
with respect to such Registration Statement (and the prospectus included therein) and, in the case of such accountants' letter,
with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer's
counsel and in accountants' letters delivered to underwriters in underwritten public offerings of securities.

 

(h)          The
Company shall as soon as practicable after the effective date of a Registration Statement relating to any Warrant Shares pursuant
to Section 6.2 hereof, and in any event within fifteen (15) months thereafter, make "generally available to its security holders"
(within the meaning of Rule 157 under the Act) an earnings statement (which need not be audited) complying with Section 11(a) of
the Act and covering a period of at least twelve (12) consecutive months beginning after the effective date of the Registration
Statement.

 

(i)          The
Company shall deliver promptly to each Holder participating in an offering including any Warrant Shares pursuant to Section 6.2
hereof, who so requests, and to the managing underwriter, copies of all correspondence between the Commission and the Company,
its counsel or auditors and all memoranda relating to discussions with the Commission or its staff with respect to the Registration
Statement and permit each Holder and underwriter to do such investigation, upon reasonable advance notice, with respect to information
contained in or omitted from the Registration Statement as it deems reasonably necessary to comply with applicable securities laws
or rules of the Financial Industry Regulatory Authority (“FINRA”). Such investigation shall include access to books,
records and properties and opportunities to discuss the business of the Company with its officers and independent auditors, all
to such reasonable extent and at such reasonable times and as often as any such Holder shall reasonably request as it deems necessary
to comply with applicable securities laws and FINRA rules.

 

(j)          For
purposes of this Agreement, the term “Majority” in reference to the Holders of Warrants or Warrant Shares, shall mean
in excess of fifty percent (50%) of the outstanding Warrants or Warrant Shares that (i) are not held by the Company, an affiliate
(excluding the Agent and any affiliate of the Agent), officer, creditor, employee or agent thereof or any of their respective affiliates,
members of their family, persons acting as nominees or in conjunction therewith or (ii) have not been resold to the public pursuant
to a Registration Statement filed with the Commission under the Act.

 

    	6

    	 

    

 

6.4           Obligations
of Holder.

 

(a)          In
connection with each registration hereunder, each selling Holder will furnish to the Company in writing such information with respect
to such seller and the securities held by such seller, and the proposed distribution by him or them as shall be reasonably requested
by the Company in order to assure compliance with federal and applicable state securities laws, as a condition precedent to including
such Holder’s Warrant Securities in the Registration Statement. Each Holder also shall agree to promptly notify the Company
of any changes in such information included in the Registration Statement or prospectus as a result of which there is an untrue
statement of material fact or an omission to state any material fact required or necessary to be stated therein in order to make
the statements contained therein not misleading in light of the circumstances then existing.

 

(b)          In
connection with each registration pursuant to this Agreement, the Holder whose Warrant Securities are included therein will not
affect sales thereof until notified by the Company of the effectiveness of the Registration Statement, and thereafter will suspend
such sales after receipt of telegraphic or written notice from the Company to suspend sales to permit the Company to correct or
update a Registration Statement or prospectus. At the end of any period during which the Company is obligated to keep a Registration
Statement current, the Holder included in said Registration Statement shall discontinue sales of shares pursuant to such Registration
Statement upon receipt of notice from the Company of its intention to remove from registration the shares covered by such Registration
Statement which remain unsold, and such Holder shall notify the Company of the number of shares registered which remain unsold
immediately upon receipt of such notice from the Company.

 

6.5           Information
Blackout and Holdbacks.

 

(a)          At
any time when a Registration Statement effected pursuant to Section 6.2 relating to Warrant Securities is effective, upon written
notice from the Company to the Holder that the Company has determined in good faith that sale of Warrant Securities pursuant to
the Registration Statement would require the premature disclosure of non-public material information as to which the Company has
a bonafide business purpose for maintaining its confidentiality, the Holder shall suspend sales of Warrant Securities pursuant
to such Registration Statement until such time as the Company notifies the Holder that such material information has been disclosed
to the public or has ceased to be material or that sales pursuant to such Registration Statement may otherwise be resumed; provided,
however, that the number of days of any such suspension may not exceed an aggregate of 120 days in any 360-day period; and provided,
further, that upon the expiration of such suspension the Company will file any required supplement or amendment to the prospectus
included in part of such Registration Statement with the SEC.

 

(b)          Notwithstanding
any other provision of this Agreement, if the Company elects to include the Warrant Securities in a Registration Statement, and
that Registration Statement includes the reoffer of shares of Common Stock issuable upon conversion of convertible notes issued
by the Company in connection with the November 27, 2013 SPA (the “SPA Shares”), then and in that event, the Holders
of the Warrant Securities agree not to effect any public sale or distribution of the Warrant Securities on different terms than
those applicable to the SPA Shares, as the Holders of the Warrant Securities recognize and agree to be bound by the same lock-up
provisions that are applicable to the SPA Shares.

 

    	7

    	 

    

 

7.          Adjustments
to Exercise Price and Number of Securities.

 

7.1           Subdivision
and Combination. In case the Company shall at any time subdivide or combine the outstanding shares of Common Stock, the Exercise
Price shall forthwith be proportionately decreased in the case of subdivision or increased in the case of combination.

 

7.2           Adjustment
in Number of Securities. Upon each adjustment of the Exercise Price pursuant to the provisions of this Section 7, the number
of securities issuable upon the exercise of each Warrant shall be adjusted to the nearest full amount by multiplying a number equal
to the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Securities issuable upon exercise
of the Warrants immediately prior to such adjustment and dividing the product so obtained by the adjusted Exercise Price.

 

7.3           Definition
of Common Stock. For the purpose of this Agreement, the term “Common Stock” shall mean (i) the class of stock designated
as Common Stock in the Company’s articles of incorporation as may be amended as of the date hereof, or (ii) any other class
of stock resulting from successive changes or reclassifications of such Common Stock consisting solely of changes in par value,
or from par value to no par value, or from no par value to par value.

 

7.4           Merger
or Consolidation. In case of any consolidation of the Company with, or merger of the Company with, or merger of the Company
into, another corporation (other than a consolidation or merger which does not result in any reclassification or change of the
outstanding Common Stock), the corporation formed by such consolidation or merger shall execute and deliver to the Holder a supplemental
warrant agreement providing that the holder of each Warrant then outstanding or to be outstanding shall have the right thereafter
(until the expiration of such Warrant) to receive, upon exercise of such warrant, the kind and amount of shares of stock and other
securities and property receivable upon such consolidation or merger, by a property receivable upon such consolidation or merger,
by a holder of the number of shares of Common Stock of the Company for which such warrant might have been exercised immediately
prior to such consolidation, merger, sale or transfer. Such supplemental warrant agreement shall provide for adjustments which
shall be identical to the adjustments provided in Section 7.2. The above provision of this Subsection shall similarly apply to
successive consolidations or mergers.

 

7.5           No
Adjustment of Exercise Price in Certain Cases. No adjustment of the Exercise Price shall be made:

 

(a)          Upon
issuance or sale of the Warrants or the shares of Common Stock issuable upon the exercise of the Warrants.

 

(b)          If
the amount of said adjustment shall be less than two cents ($0.02) per security issuable upon exercise of the Warrants, provided,
however, that in such case any adjustment that would otherwise be required then to be made shall be carried forward and shall be
made at the time of and together with the next subsequent adjustment which, together with any adjustment so carried forward, shall
amount to at least two cents ($0.02) per security issuable upon exercise of the Warrants.

 

    	8

    	 

    

 

7.6           Dividends
and Other Distributions. In the event that the Company shall at any time prior to the exercise of all Warrants declare a dividend
(other than a dividend consisting solely of shares of Common Stock) or otherwise distribute to its stockholders any assets, properties,
rights, evidence of indebtedness, securities (other than shares of Common Stock), whether issued by the Company or by another,
or any other thing of value, the Holders of the unexercised Warrants shall thereafter be entitled, in addition to the shares of
Common Stock or other securities and property receivable upon the exercise thereof, to receive, upon the exercise of such Warrants,
the same property, assets, rights, evidences of indebtedness, securities or any other thing of value that they would have been
entitled to receive at the time of such dividend or distribution as if the Warrants had been exercised immediately prior to such
dividend or distribution. At the time of any such dividend or distribution, the Company shall make appropriate reserves to ensure
the timely performance of the provisions of this Section 7.6.

 

8.          Exchange
and Replacement of Warrant Certificates. Each Warrant Certificate is exchangeable without expense, upon the surrender thereof
by the registered Holder at the principal office of the Company, for a new Warrant Certificate of like tenor and date representing
in the aggregate the right to purchase the same number of securities in such denominations as shall be designated by the Holder
thereof at the time of such surrender.

 

Upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of any Warrant Certificate, and, in case of loss, theft
or destruction, of indemnity or security reasonably satisfactory to it, and reimbursement to the Company of all reasonable expenses
incidental thereto, and upon surrender and cancellation of the Warrants, if mutilated, the Company will make and deliver a new
Warrant Certificate of like tenor, in lieu thereof.

 

9.          Elimination
of Fractional Interests. The Company shall not be required to issue certificates representing fractions of shares of Common
Stock upon the exercise of the Warrants, nor shall it be required to issue script or pay cash in lieu of fractional interests,
it being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up to the nearest
whole number or shares of Common Stock or other securities, properties or rights.

 

10.         Reservation
and Listing of Securities. The Company shall at times reserve and keep available out of its authorized shares of Common Stock,
solely for the purpose of issuance upon the exercise of the Warrants, such number of shares of Common Stock or other securities,
properties or rights as shall be issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of the
Warrants and payment of the Exercise Price therefor, all shares of Common Stock and other securities issuable upon such exercise
shall be duly and validly issued, fully paid, non-assessable and not subject to the preemptive rights of any stockholder. As long
as the Warrants shall be outstanding and the Company shall have a class of its securities registered under the Act or the Exchange
Act, the Company shall use its best efforts to cause all shares of Common Stock issuable upon the exercise of the Warrants to be
listed or reserved for listing (subject to official notice of issuance) on all security exchanges on which the Common Stock issued
to the public in connection herewith may then be listed and/or quoted.

 

    	9

    	 

    

 

11.         Notices
to Warrant Holders. Nothing contained in this Agreement shall be constructed as conferring upon the Holders the right to vote
or to consent or to receive notices of stockholders in respect of any meetings of stockholders for the election of directors or
any other matter, or as having any rights whatsoever as a stockholder of the Company. If, however, at any time prior to the expiration
of the Warrants and their exercise, any of the following events shall occur:

 

(a)          the
Company shall take a record of the holders of its shares of Common Stock for the purpose of entitling them to receive a dividend
or distribution payable otherwise than in cash, or a cash dividend or distribution payable otherwise than out of current or retained
earnings, as indicated by the accounting treatment of such dividend or distribution on the books of the Company; or

 

(b)          the
Company shall offer to all the holders of its Common Stock any additional shares of capital stock of the Company or securities
convertible into or exchangeable for shares of capital stock of the Company, or any option right or warrant to subscribe therefor;
or

 

(c)          a
dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or merger) or a sale of all
or substantially all of its property, assets and business as an entirety shall be proposed;

 

then, in any one or more of said events, the Company shall give
written notice of such event at least fifteen (15) days prior to the date fixed as a record date or the date of closing the transfer
books for the determination of the convertible or exchangeable securities or subscription rights, or entitled to vote on such proposed
dissolution, liquidation, winding up or sale. Such notice shall specify such record date or the date of closing the transfer books,
as the case may be. Failure to give such notice or any defect therein shall not affect the validity of any action taken in connection
with the declaration or payment of any such dividend, or the issuance of any convertible or exchangeable securities or subscription
rights, options or warrants, or any proposed dissolution, winding up or sale.

 

12.         Notices.
All notices, requests, consents and other communications hereunder shall be in writing and shall be deemed to have been duly made
when delivered, or mailed by registered or certified mail, return receipt requested:

 

(a)          If
to the registered Holder of the Warrants, to the address of such Holder as shown on the books of the Company; or

 

(b)          If
to the Company, to the address set forth in Section 3.1 hereof or to such other address as the Company may designate by notice
to the Holders.

 

13.         Supplements
and Amendments. The Company and Placement Agent may from time to time supplement or amend this Agreement without the approval
of any holders of Warrant Certificates in order to cure any ambiguity, to correct or supplement any provision contained herein
which may be defective or inconsistent with any provision herein, or to make any other provisions in regard to matters or questions
arising hereunder which the Company and Placement Agent may deem necessary or desirable and which the Company and Placement Agent
deem shall not adversely affect the interests of the Holders of Warrant Certificates. Other amendments to this Agreement may be
made only with the written consent of the Holders of the Majority of the Warrant Securities.

 

    	10

    	 

    

 

14.         Successors.
All the covenants and provisions of this Agreement shall be binding upon and inure to the benefit of the Company, the Holders and
their respective successors and assigns hereunder.

 

15.         Termination.
This Agreement shall terminate at the close of business on the later of: (i) the fifth anniversary of the date hereof; or (ii)
the Warrant Exercise Term. Notwithstanding the foregoing, the indemnification provisions of Section 6 shall survive such termination
until the close of business on the eighth anniversary of the date hereof.

 

16.         Governing
Law: Submission to Jurisdiction. This Agreement and each Warrant Certificate issued hereunder shall be deemed to be a contract
made under the laws of the State of New York and for all purposes shall be construed in accordance with the laws of said State
without giving effect to the rules of said State governing the conflicts of laws.

 

The Company, Placement Agent and the Holders
hereby agree that any action, proceeding or claim against it arising out of, or relating in any way to, this Agreement shall be
brought and enforced in the courts of the State of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall
be exclusive. The parties and each Holder agree that any dispute, claim or controversy directly or indirectly relating to or arising
out of this agreement, the termination or validity hereof, any alleged breach of this agreement or the engagement contemplated
hereby (any of the foregoing, a “claim”) shall be submitted to the judicial arbitration and mediation services, inc
(“JAMS”), or its successor, in New York, for final and binding arbitration in front of a panel of three arbitrators
with jams in New York, New York under the JAMS comprehensive arbitration rules and procedures with the Holder (or Holders) and
the Company each choosing one arbitrator, and the chosen arbitrators choosing the third arbitrator). The arbitrators shall, in
their award, allocate all of the costs of the arbitration, including the fees of the arbitrators and the reasonable attorneys’
fees of the prevailing party, against the party who did not prevail. The award in the arbitration shall be final and binding. The
arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. Sec.1-16, and the judgment upon the award rendered by the
arbitrators may be entered by any court having jurisdiction thereof. Any award and the decision shall be rendered in writing. Notwithstanding
anything to the contrary contained in the Federal Arbitration Act, no punitive damages shall be awarded to any party. The Company
and each Holder agree and consent to personal jurisdiction, service of process and venue in any federal or state court within the
state and county of New York in connection with any action brought to enforce an award in arbitration.

 

17.         Entire
Agreement; Modification. This Agreement contains the entire understanding between the parties hereto with respect to the subject
matter hereof and may not be modified or amended except by a writing duly signed by the party against whom enforcement of the modification
or amendment is sought.

 

    	11

    	 

    

 

18.         Severability.
If any provision of this Agreement shall be held to be invalid and unenforceable, such invalidity or unenforceability shall not
affect any other provision of this Agreement.

 

19.         Captions.
The caption headings of the Sections of this Agreement are for convenience of reference only and are not intended, nor should they
be construed as, a part of this Agreement and shall be given no substantive effect.

 

20.         Benefits
of this Agreement. Nothing in this Agreement shall be construed to give to any person or corporation other than the Company
and Placement Agent and any other registered Holders(s) of the Warrant Certificates or Warrant Shares any legal or equitable right,
remedy or claim under this Agreement; and this Agreement shall be for the sole and exclusive benefit of the Company and Placement
Agent and any other Holder(s) of the Warrant Certificates or Warrant Shares.

 

21.         Counterparts.
This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and such counterparts shall together constitute but one and the same instrument.

    	12

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Agreement to be duly executed, as of the day and year first written.

 

	 	ARMADA WATER ASSETS, INC.
	 	 	 
	 	By:	/s/ Maarten Propper
	 	 	Maarten Propper, Chief Executive Officer

 

(Signature continued on following page)

 

    	13

    	 

    

 

	 	AEGIS CAPITAL CORP.
	 	 	 	 
	 	By:	 	/s/ Eugene Terraccanio
	 	 	 	 
	 	Name:	Eugene Terraccanio
	 	 	 
	 	Title:	Director of Compliance

 

    	14

    	 

    

 

Exhibit A

 

THE WARRANT REPRESENTED BY THIS CERTIFICATE AND THE OTHER SECURITIES
ISSUABLE UPON EXERCISE THEREOF MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO (i) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933, (ii) TO THE EXTENT APPLICABLE, RULE 144 UNDER SUCH ACT (OR ANY SIMILAR RULE UNDER SUCH ACT RELATING TO
THE DISPOSITION OF SECURITIES), OR (iii) AN OPINION OF COUNSEL, IF SUCH OPINION SHALL BE REASONABLY SATISFACTORY TO THE ISSUER,
THAT AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT IS AVAILABLE.

 

THE TRANSFER OR EXCHANGE OF THE WARRANTS REPRESENTED BY THIS
CERTIFICATE IS RESTRICTED IN ACCORDANCE WITH THE WARRANT AGREEMENT REFERRED TO HEREIN.

 

	No. PA__	 	_______ Warrants

 

ARMADA WATER ASSETS, INC.

 

WARRANT CERTIFICATE

 

This Warrant Certificate certifies that
_________________, or its registered assigns, is the registered holder of a Warrant to purchase initially, at any time after the
date hereof until 5:30 p.m. New York time on ________________ (the "Expiration Date"), up to _________ fully paid and
non-assessable shares of common stock, $0.0001 par value ("Common Stock") of ARMADA WATER ASSETS, INC., a Nevada corporation
(the "Company”) at the initial exercise price, subject to adjustment in certain events (the "Exercise Price"),
of $1.50 per share of Common Stock, upon surrender of this Warrant Certificate and payment of the Exercise Price at an office or
agency of the Company, or by surrender of this Warrant Certificate in lieu of cash payment, but subject to the conditions set forth
herein and in the Warrant Agreement dated as of January 29, 2014 between the Company and Aegis Capital Corp. (the "Warrant
Agreement"). Payment of the Exercise Price shall be made by wire transfer of immediately available funds to the Company’s
accounts. No Warrant may be exercised after 5:30 p.m., New York time, on the Expiration Date, at which time all Warrants evidenced
hereby, unless exercised prior thereto, hereby shall thereafter be void.

 

The Holder is hereby granted the right to
purchase at any time prior to the Expiration Date, either: (i) to the extent there is no Public Offering that occurs within one
year from the date of grant hereof, __________ shares of Common Stock (as subject to adjustment as provided in Section 7
of the Warrant Agreement); or (ii) to the extent the Company completes a Public Offering within one year from the date of grant
hereof, that number of shares of Common Stock as are equal to $_________ divided by the IPO Exercise Price. Except otherwise
provided in Section 7 of the Warrant Agreement, the Warrants shall be exercisable to purchase Common Stock at an initial exercise
price per share of either: (i) $1.50, to the extent there is no Public Offering that occurs within one year from the date of grant
hereof; or (ii) to the extent the Company completes a Public Offering within one year from the date of grant hereof, an exercise
price per share equal to one hundred and fifty percent (150%) of the conversion price per share of Common Stock pursuant to the
Notes, i.e. 105% of the initial Public Offering price (the “IPO Exercise Price). The adjusted exercise price shall be the
price which shall result from time to time from any and all adjustments of the initial exercise price in accordance with the provisions
of Section 7 of the Warrant Agreement.

 

    	15

    	 

    

 

The Warrants evidenced by this Warrant Certificate
are part of a duly authorized issue of Warrants issued pursuant to the Warrant Agreement, which Warrant Agreement is hereby incorporated
by reference in and made a party of this instrument and is hereby referred to for a description of the rights, limitations of rights,
obligations, duties and immunities thereunder of the Company and the holders (the words "holders" or "holder"
meaning the registered holder or registered holders) of the Warrants.

 

The Warrant Agreement provides that upon
the occurrence of certain events the Exercise Price and the type and/or number of the Company's securities issuable thereupon may,
subject to certain conditions, be adjusted. In such event, the Company will, at the request of the holder, issue a new Warrant
Certificate evidencing the adjustment in the Exercise Price and the number and/or type of securities issuable upon the exercise
of the Warrants; provided, however, that the failure of the Company to issue such new Warrant Certificates shall not in any way
change, alter, or otherwise impair, the rights of the holder as set forth in the Warrant Agreement.

 

Upon due presentment for registration of
transfer of this Warrant Certificate and executed form of assignment as attached hereto at an office or agency of the Company,
a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall
be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided herein and in the
Warrant Agreement, without any charge except for any tax or other governmental charge imposed in connection with such transfer.

 

Upon the exercise of this Warrant for of
less than all of the shares of Common Stock set forth in paragraph one of this Certificate, the Company shall forthwith issue to
the holder hereof a new Warrant Certificate exercisable for the number of shares of Common Stock set forth in paragraph one of
this Certificate less the number of shares of Common Stock for which this Warrant was exercised.

 

The Company may deem and treat the registered
holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any exercise hereof, and of any distribution to the holder(s) hereof, and for all other
purposes, and the Company shall not be affected by any notice to the contrary.

 

All terms used in this Warrant Certificate
which are defined in the Warrant Agreement shall have the meanings assigned to them in the Warrant Agreement.

    	16

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant Certificate to be duly executed as of the _____ day of January, 2014.

 

	 	ARMADA WATER ASSETS, INC.
	 	 	 
	 	By:	 
	 	 	Maarten Propper, Chief Executive Officer

 

    	17

    	 

    

 

FORM OF
ELECTION TO PURCHASE

 

The undersigned hereby irrevocably elects
to exercise the right, represented by this Warrant Certificate, to purchase ____________ shares of Common Stock.

 

In accordance with the terms of Article
3 of the Warrant Agreement dated as of _____________________ by and between Armada Water Assets, Inc. and Aegis Capital Corp.,
the undersigned requests that a certificate for such securities be registered in the name of ____________________ whose address
is ___________________________ and that such Certificate be delivered to ______________________whose address is ________________________________.

 

	Dated:	 
	 	 
	 	Signature must conform in all respects to name of holder as specified on the face of the Warrant Certificate.)
	 	 
	 	 
	 	(Insert Social Security or Other Identifying Number of Holder)

 

    	18

    	 

    

 

FORM OF
ASSIGNMENT

 

(To be executed by the registered holder
if such holder desires to transfer the Warrant Certificate.)

 

FOR VALUE RECEIVED ________________________________
hereby sells, assigns and transfers unto____________________________________________________ _____________________________________________________________________________

 

(Please print name and address of transferee)

 

this Warrant Certificate, together with all right, title and
interest therein, and does hereby irrevocably constitute and appoint ______________________ Attorney, to transfer the within Warrant
Certificate on the books of the within-named Company, with full power of substitution.

 

	Dated:	 
	 	 
	 	Signature must conform in all respects to name of holder as specified on the face of the Warrant Certificate.)
	 	 
	 	 
	 	(Insert Social Security or Other Identifying Number of Holder)

 

    	19Exhibit 4.10

 

CONFIDENTIAL

 

SECURITIES
PURCHASE AGREEMENT

 

THIS SECURITIES PURCHASE
AGREEMENT (this “Agreement”), dated on and as of the latest date set forth on the signature page hereto, by
and between Armada Water Assets, Inc., a Nevada corporation (the “Company”), and the purchaser identified on
the signature page hereof (“Purchaser”).

 

RECITALS:

 

WHEREAS, Purchaser
desires to purchase and the Company desires to sell securities on the terms and conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the premises hereof and the agreements set forth herein below, the parties hereto hereby agree as follows:

 

1.           The
Offering. 

 

(a)          Private
Offering. The securities offered by this Agreement are being offered in a private offering (the “Offering”)
of a minimum of $500,000 (the “Minimum Amount”) and a maximum of $7,500,000 (the “Maximum Amount”)
of shares of Series E Preferred Stock (the “Series E Preferred Shares” or “Shares”) at a
purchase price of $4.00 per share (the “Original issue Price”), provided that the Offering may be increased,
in the sole discretion of the Company. The Shares will be sold on a “best efforts” basis pursuant to Section 4(a)(2)
of the Securities Act of 1933, as amended (the “Securities Act”), and/or Rule 506(b) of Regulation D thereunder. Each
Purchaser of Shares will receive one warrant in the form attached hereto as Exhibit E (the “Warrant”).
The Shares and the shares of Common Stock issuable upon conversion of the Shares, the Warrants and the shares of Common Stock issuable
upon exercise of the Warrants (the “Warrant Shares”) are hereinafter referred to collectively as the “Securities.”
The Shares are being offered solely to a limited number of “accredited investors” as that term is defined in Rule 501(a)
of the Securities Act during an offering period (the “Offering Period”) commencing on the date hereof and terminating
not later than May 15, 2014, although the Company has the right to extend the termination date in its sole discretion (the “Termination
Date”). The Offering may be terminated by the Company at any time in its sole discretion. This Agreement, the Exhibits
hereto and the Offering Summary dated April 21, 2014 (including the documents incorporated by reference therein) are hereinafter
collectively referred to as the “Offering Documents”.

 

(b)          Description
of Securities. The rights, preferences, powers and other terms of the Series E Preferred Shares are summarized in the Offering
Summary attached hereto and are set forth in full in the Form of Certificate of Designation of Series E Preferred Stock attached
hereto and made a part hereof as Exhibit D (the “Certificate of Designation”). The terms of the Warrants
are summarized in the Offering Summary attached hereto and as set forth in full in the Form of Warrant attached hereto and made
a part hereof as Exhibit E.

 

    	1

    	 

    

 

(c)          Placement
of the Shares. The Company intends to offer and sell certain or all of the Shares through the efforts of its own officers and
personnel without the payment of a brokerage commission or sales incentives.

 

2.           Sale
and Purchase of Securities. 

 

(a)          Purchase
and Sale. Subject to the terms and conditions hereof, the Company agrees to sell, and Purchaser irrevocably subscribes for
and agrees to purchase, the number of Shares set forth on the signature page of this Agreement at a purchase price of $4.00 per
Share. The aggregate purchase price for the Shares shall be as set forth on the signature page hereto (the “Aggregate
Purchase Price”) and shall be payable upon execution hereof by check or wire transfer of immediately available funds
as set forth below.

 

(b)          Subscription
Procedure. In order to purchase Shares, Purchaser shall: (i) deliver to the Company at 2425 Fountain View Drive, Suite 300,
Houston, Texas, Attn: Sami Ahmad: one completed and duly executed copy of this Agreement, and (ii) payment for the Shares in an
amount equal to the amount of purchase price indicated on the signature page hereto (the “Aggregate Purchase Price”)
by certified or bank check covering immediately available funds or through wire transmission pursuant to the instructions attached
hereto as Exhibit F. Execution and delivery of this Agreement shall constitute an irrevocable subscription for that number
of Shares set forth on the signature page hereto. The Shares subscribed for will not be deemed to be issued to, or owned by, Purchaser
until the Company has executed this Agreement. This Agreement will either be accepted by the Company, in whole or in part, in its
sole discretion, or rejected by the Company prior to the termination of the Offering. If this Agreement is accepted only in part,
Purchaser agrees to purchase such smaller number of Shares as the Company determines to sell to Purchaser. If this Agreement is
rejected for any reason, including the termination of the Offering by the Company, this Agreement and all funds tendered herewith
will be promptly returned to Purchaser, without interest or deduction of any kind, and this Agreement will be void and of no further
force or effect. Until we elect to accept or reject a Purchaser’s Securities Purchase Agreement, the Purchaser’s subscription
is irrevocable.

 

(c)          Closing.
Upon our acceptance of subscriptions for at least $500,000 of Shares, the Company will conduct an initial closing of the Offering
and thereafter, may conduct any number of additional closings until the termination date. Upon the Company’s execution of
this Agreement, the subscription evidenced hereby, if not previously rejected by the Company, will, in reliance upon Purchaser’s
representations and warranties contained herein, be accepted, in whole or in part, by the Company. If Purchaser’s subscription
is accepted only in part, this Agreement will be marked to indicate such fact, and the Company will return to Purchaser the portion
of the funds tendered by Purchaser representing the unaccepted portion of Purchaser’s subscription, without interest or deduction
of any kind. Upon the final closing of the Offering, the Company will promptly issue the certificates for the Shares and Warrants
to Purchaser.

 

    	2

    	 

    

 

3.           Representations
and Warranties of Purchaser. Purchaser represents and warrants to the Company as follows:

 

(a)          Organization
and Qualification.

 

(i)          If
Purchaser is an entity, Purchaser is duly organized, validly existing and in good standing under the laws of its jurisdiction of
organization, with the corporate or other entity power and authority to own and operate its business as presently conducted, except
where the failure to be or have any of the foregoing would not have a material and adverse effect on the legality, validity or
enforceability of any Transaction Documents, and Purchaser is duly qualified as a foreign corporation or other entity to do business
and is in good standing in each jurisdiction where the character of its properties owned or held under lease or the nature of their
activities makes such qualification necessary, except for such failure to be so qualified or in good standing as would not have
a Material Adverse Effect on it. For purposes of this Agreement, “Material Adverse Effect” means any of (i)
a material and adverse effect on the legality, validity or enforceability of any Transaction Documents, (ii) a material and adverse
effect on the results of operations, assets, business or financial condition of such party and its subsidiaries, taken as a whole,
or (iii) any material adverse impairment to the ability of such party to perform in any material respect on a timely basis its
obligations under any Transaction Document.

 

(ii)         If
Purchaser is an entity, the address of its principal place of business is as set forth on the signature page hereto, and if Purchaser
is an individual, the address of his or her principal residence is as set forth on the signature page hereto.

 

(b)          Authority;
Validity and Effect of Agreement.

 

(i)          If
Purchaser is an entity, Purchaser has the requisite corporate or other entity power and authority to execute and deliver this Agreement
and any documents contemplated hereby (collectively, the “Transaction Documents”) and perform its obligations
under the Transaction Documents. The execution and delivery of each Transaction Document by Purchaser, the performance by Purchaser
of its obligations thereunder, and all other necessary corporate or other entity action on the part of Purchaser have been duly
authorized by its board of directors or similar governing body, and no other corporate or other entity proceedings on the part
of Purchaser is necessary for Purchaser to execute and deliver the Transaction Documents and perform its obligations thereunder.

 

(ii)         Each
of the Transaction Documents has been duly and validly authorized, executed and delivered by Purchaser and, assuming each has been
duly and validly executed and delivered by the Company, each constitutes a legal, valid and binding obligation of Purchaser, in
accordance with its terms.

 

    	3

    	 

    

 

(c)          No
Conflict; Required Filings and Consents. Neither the execution and delivery of the Transaction Documents by Purchaser nor the
performance by Purchaser of its obligations, thereunder will: (i) if Purchaser is an entity, conflict with Purchaser’s articles
of incorporation or bylaws, or other similar organizational documents; (ii) violate any statute, law, ordinance, rule or regulation,
applicable to Purchaser or any of the properties or assets of Purchaser; or (iii) violate, breach, be in conflict with or constitute
a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or permit the termination
of any provision of, or result in the termination of, the acceleration of the maturity of, or the acceleration of the performance
of any obligation of Purchaser under, or result in the creation or imposition of any lien upon any properties, assets or business
of Purchaser under, any material contract or any order, judgment or decree to which Purchaser is a party or by which it or any
of its assets or properties is bound or encumbered except, in the case of clauses (ii) and (iii), for such violations, breaches,
conflicts, defaults or other occurrences which, individually or in the aggregate, would not have a Material Adverse Effect on it.

 

(d)          Accredited
Investor. Purchaser is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D under the
Securities Act. If Purchaser is an entity, Purchaser was not formed for the specific purpose of acquiring the Securities, and,
if it was, all of Purchaser’s equity owners are “accredited investors” as defined above.

 

(e)          No
Government Review. Purchaser understands that neither the United States Securities and Exchange Commission (“SEC”)
nor any securities commission or other governmental authority of any state, country or other jurisdiction has approved the issuance
of the Securities or passed upon or endorsed the merits of this Agreement, the Shares, or any of the other documents relating to
the proposed Offering, or confirmed the accuracy of, determined the adequacy of, or reviewed this Agreement, the Securities or
such other documents.

 

(f)          Investment
Intent. The Securities are being acquired for the Purchaser’s own account for investment purposes only, not as a nominee
or agent and not with a view to the resale or distribution of any part thereof, and Purchaser has no present intention of selling,
granting any participation in or otherwise distributing the same. By executing this Agreement, Purchaser further represents that
Purchaser does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation
to such person or third person with respect to any of the Shares.

 

(g)          Restrictions
on Transfer. Purchaser understands that the Securities are “restricted securities” as such term is defined in Rule
144 under the Securities Act and have not been registered under the Securities Act or registered or qualified under any state securities
law, and may not be, directly or indirectly, sold, transferred, offered for sale, pledged, hypothecated or otherwise disposed of
without registration under the Securities Act and registration or qualification under applicable state securities laws or the availability
of an exemption therefrom. Purchaser acknowledges that it is able to bear the economic risks of an investment in the Securities
for an indefinite period of time, and that its overall commitment to investments that are not readily marketable is not disproportionate
to its net worth.

 

    	4

    	 

    

 

(h)          High
Risk Investment; Investment Experience. Purchaser has such knowledge, sophistication and experience in financial, tax and business
matters in general, and investments in securities in particular, that it is capable of evaluating the merits and risks of this
investment in the Securities, and Purchaser has made such investigations in connection herewith as it deemed necessary or desirable
so as to make an informed investment decision without relying upon the Company for legal or tax advice related to this investment.
In making its decision to acquire the Securities, Purchaser has not relied upon any information other than information provided
to Purchaser by the Company or its representatives and contained herein. The Purchaser hereby confirms its understanding
that the Company is a start- up early-stage entity, which has only recently commenced its consolidated operations. The Purchaser
further represents and warrants that it is familiar with the risks inherent in making investments in start-up or venture entities
and that the Purchaser’s investment goals and strategy include making speculative investments in start-up ventures.

 

(i)          Access
to Information. In making its decision to acquire the Shares, the Purchaser confirms that it has carefully reviewed
the Business Summary attached hereto as Exhibit A, the Risk Factors attached hereto as Exhibit B, and the Unaudited
Financial Statements attached hereto as Exhibit C, which contain a brief summary of certain of the more material current
developments affecting the Company, and that the Purchaser has not relied upon any information other than information provided
to the Purchaser by the Company or its representatives in this Agreement or in the attached Exhibits. The Purchaser acknowledges
and understands that the Company is in the early stage of its development; and that it has reviewed the description of the business
of the Company in the Offering Documents as it has deemed necessary in order to make an informed investment decision with respect
to an investment in the Securities; that it has had the opportunity to ask representatives of the Company certain questions and
request certain additional information regarding the terms and conditions of such investment and the finances, operations, business
and prospects of the Company and has had any and all such questions and requests answered to its satisfaction; and that it understands
the risks and other considerations relating to such investment. The Purchaser specifically acknowledges that it has been provided
with and reviewed to its satisfaction, information regarding the Company’s finances, management team, capitalization, material
acquisitions, description of outstanding securities, plan of operations, material business risks and the like.

 

(j)          Reliance
on Representations. Purchaser understands that the Shares are being offered and sold to it in reliance on specific exemptions
from the registration requirements of the federal and state securities laws and that the Company is relying in part upon the truth
and accuracy of, and such Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of such Purchaser
to acquire the Shares. Purchaser represents and warrants to the Company that any information that Purchaser has heretofore furnished
or furnishes herewith to the Company is complete and accurate, and further represents and warrants that it will notify and supply
corrective information to the Company immediately upon the occurrence of any change therein occurring prior to the Company’s
issuance of the Shares. Within five (5) days after receipt of a request from the Company, Purchaser will provide such information
and deliver such documents as may reasonably be necessary to comply with any and all laws and regulations to which the Company
is subject.

 

    	5

    	 

    

 

(k)          No
General Solicitation. Purchaser is unaware of, and in deciding to participate in the Offering is in no way relying upon, and
did not become aware of the Offering through or as a result of, any form of general solicitation or general advertising including,
without limitation, any article, notice, advertisement or other communication published in any newspaper, magazine or similar media,
or broadcast over television or radio or the internet, in connection with the Offering.

 

(l)          Placement
and Finder’s Fees. No agent, broker, investment banker, finder, financial advisor or other person acting on behalf of
Purchaser or under its authority is or will be entitled to any broker’s or finder’s fee or any other commission or
similar fee, directly or indirectly, in connection with the Offering, and no person is entitled to any fee or commission or like
payment in respect thereof based in any way on agreements, arrangements or understanding made by or on behalf of Purchaser.

 

(m)          High
Risk Investment; Material Offering Risks. An investment in the Securities involves a high degree of risk as the Company remains
in the early stage of its development, having only recently commenced the operations of its various business units. Thus, the Company
and its subsidiaries have only a very brief history of operations, and it is uncertain how these business units will operate on
a combined basis and whether these various business units can be operated at a profit. Accordingly, the Securities are a suitable
investment only for those investors who can afford a total loss of their investment and who recognize the material risk associated
with investing in an early-stage enterprise.

 

(n)          OFAC.
Purchaser is directed to review the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”)
website at www.treas.gov. before making the following representations. Purchaser represents that no part of the Aggregate Purchase
Price set forth on the signature page hereto was directly or indirectly derived from activities that may contravene federal, state
or international laws and regulations, including anti-money laundering laws and regulations. Federal regulations and executive
orders administered by OFAC prohibit, among other things, the engagement in transaction with, and the provision of services to,
certain foreign countries, territories, entities and individuals. The lists of OFAC prohibited countries, territories, persons
and entities can be found at the OFAC website. In addition, the programs administered by OFAC prohibit dealing with individuals
or entities in certain countries regardless of whether such individuals or entities appear on the OFAC lists. Purchaser hereby
represents that none of the following is named on the OFAC list, nor is a person or entity prohibited under the OFAC programs:
(i) the Purchaser, (ii) any person controlling or controlled by the Purchaser, (iii) if the undersigned is an entity, any person
having a beneficial interest in the Purchaser, or (iv) any person for whom the undersigned is acting as agent or nominee in connection
with this investment. The Purchaser understands and acknowledges that, by law, the Company may be required to disclose the identity
of the Purchaser to OFAC.

 

    	6

    	 

    

 

(o)          Anti-Money
Laundering. The Purchaser acknowledges that due to anti-money laundering regulations within their respective jurisdictions,
the Company and/or any person acting on behalf of the Company may require further documentation verifying the Purchaser’s
identity and the source of funds used to purchase Shares before this Agreement can be accepted. The Purchaser further agrees to
provide the Company at any time with such information as the Company determines to be necessary and appropriate to verify compliance
with the anti-money laundering regulations of any applicable jurisdiction or to respond to requests for information concerning
the identity of the Purchaser from any governmental authority, self-regulatory organization or financial institution in connection
with its anti-money laundering compliance procedures, and to update such information as necessary.

 

4.          Representations
and Warranties of the Company. Except as set forth in the correspondingly numbered section of the Schedules hereto, the Company
represents and warrants to Purchaser as follows:

 

(a)          Organization
and Qualification. The Company is duly organized, validly existing and in good standing under the laws of the State of Nevada,
with the corporate power and authority to own and operate its business as presently conducted, except where the failure to be or
have any of the foregoing would not have a Material Adverse Effect on the Company. The Company is duly qualified as a foreign corporation
or other entity to do business and is in good standing in each jurisdiction where the character of its properties owned or held
under lease or the nature of their activities makes such qualification necessary, except for such failures to be so qualified or
in good standing as would not have a Material Adverse Effect. 

 

(b)          Authority;
Validity and Effect of Agreement. The Company has the requisite corporate power and authority to execute and deliver each of
the Transaction Documents, perform its obligations thereunder, and conduct the Offering. The execution and delivery of each of
the Transaction Documents by the Company, the performance by the Company of its obligations thereunder, the transactions contemplated
thereby, the Offering, and all other necessary corporate action on the part of the Company have been duly authorized by its board
of directors, and no other corporate proceedings on the part of the Company are necessary to authorize each of the Transaction
Documents or the Offering. Each of the Transaction Documents has been duly and validly executed and delivered by the Company and,
assuming that each has been duly authorized, executed and delivered by Purchaser, each constitutes a legal, valid and binding obligation
of the Company, in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether
considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.

 

    	7

    	 

    

 

(c)          No
Conflict; Required Filings and Consents. Neither the execution and delivery of the Transaction Documents by the Company nor
the performance by the Company of its obligations thereunder will: (i) conflict with the Company’s certificate of incorporation
or bylaws; (ii) violate any statute, law, ordinance, rule or regulation, applicable to the Company or any of the properties or
assets of the Company; or (iii) violate, breach, be in conflict with or constitute a default (or an event which, with notice or
lapse of time or both, would constitute a default) under, or permit the termination of any provision of, or result in the termination
of, the acceleration of the maturity of, or the acceleration of the performance of any obligation of the Company, or result in
the creation or imposition of any lien upon any properties, assets or business of the Company under, any material contract or any
order, judgment or decree to which the Company is a party or by which it or any of its assets or properties is bound or encumbered
except, in the case of clauses (ii) and (iii), for such violations, breaches, conflicts, defaults or other occurrences which, individually
or in the aggregate, would not have a Material Adverse Effect.

 

(d)          Capitalization.
Subject to the “Current Developments” described in Exhibit “A” which are intended to update the information
described below, the Company is authorized to issue 150,000,000 shares of capital stock, 100,000,000 shares of which are designated
Common Stock, $0.0001 par value per share, of which, as of the date of this Agreement, and following a one for three reverse split
effective in February 2014, 7,451,588 shares of Common Stock were issued and outstanding and 50,000,000 shares of Preferred Stock
of which, 3,200,000 shares of Series A Preferred Stock, 8,000,000 shares of Series B Preferred Stock, 3,500,000 shares of Series
C Preferred Stock and 1,500,000 shares of Series D Preferred Stock, were issued and outstanding. The Company also has outstanding:
(i) options to purchase approximately 808,000 shares of Common Stock granted to its executive management team; (ii) warrants to
purchase an additional 272,500 shares of Common Stock; (iii) $2.5 million of convertible notes issued in connection with the acquisition
of Summit Holdings, which are convertible within a one year period, at the option of the holders thereof, into our shares at the
price at which our shares, during such one year period, may be issued in an initial public offering, if at all; and (iv) $2.5 million
of convertible notes which are convertible on a mandatory basis, into our shares at 70% of the price at which our shares may be
issued in an initial public offering, if at all. Except as may be described in the Offering Documents, no securities of the Company
are entitled to preemptive or similar rights, and no entity or person has any right of first refusal, preemptive right, right of
participation, or any similar right to participate in the transactions contemplated by this Agreement unless any such rights have
been waived. Additional shares may be issued by our board of directors without further stockholder approval.

 

(e)          Issuance
of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with the terms of the
Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all liens, other than restrictions
on transfer provided for in the Transaction Documents or imposed by applicable securities laws, and shall not be subject to preemptive
or similar rights of shareholders. Assuming the accuracy of the representations and warranties of the Purchasers in this Agreement,
the Securities will be issued in compliance with applicable federal and state securities laws.

 

    	8

    	 

    

 

(a)          Consents.
The Company is not required to obtain any consent, waiver, authorization, approval or order of, give any notice to, or make any
filing or registration with, any court or other federal, state, local or other governmental authority or other person or entity
in connection with the execution, delivery and performance by the Company of this Agreement or the issuance, sale or delivery of
the Securities other than (i) any filings required by state securities laws, (ii) the filing of a Notice of a Sale of Securities
on Form D with the Securities and Exchange Commission under Regulation D of the Securities and Exchange Act, (iii) those that have
been made or obtained prior to or contemporaneously with the initial Closing, and (iv) filings pursuant to the Securities and Exchange
Act.

 

(b)          Litigation.
Except as may otherwise be disclosed within the Risk Factors attached hereto as Exhibit B, there is no pending or, to the best
knowledge of the Company, threatened action, suit, proceeding or investigation before any court, governmental agency or body, or
arbitrator having jurisdiction over the Company, or any of its affiliates that would affect the execution by the Company or the
performance by the Company of its obligations under this Agreement, and all other agreements entered into by the Company relating
hereto. There is no pending or, to the best knowledge of the Company, threatened action, suit, proceeding or investigation before
any court, governmental agency or body, or arbitrator having jurisdiction over the Company, or any of its affiliates which litigation
if adversely determined could result in a material adverse effect.

 

(c)          5.          Other
Agreements of the Parties.

 

(a)          Transfer
Restrictions.

 

(i)          The
Securities may only be disposed of in compliance with applicable federal and state securities laws. In connection with any transfer
of Securities other than pursuant to an effective registration statement or Rule 144, to the Company or to an Affiliate of a Purchaser
or in connection with a pledge, the Company may require the transferor thereof to provide to the Company an opinion of counsel
to the Company, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such
transfer does not require registration of such transferred Securities under the Securities Act. As a condition of transfer, any
such transferee shall agree in writing to be bound by the terms of this Agreement and the other Transaction Documents and shall
have the rights and obligations of a Purchaser under this Agreement.

 

(ii)         Legends.
The certificates and agreements evidencing the Securities shall have endorsed thereon the following legend (and appropriate notations
thereof will be made in the Company’s stock transfer books), and stop transfer instructions reflecting these restrictions
on transfer will be placed with the transfer agent of the Securities:

 

THE SECURITIES REPRESENTED HEREBY HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES REPRESENTED
HEREBY HAVE BEEN TAKEN BY THE REGISTERED OWNER FOR INVESTMENT, AND WITHOUT A VIEW TO RESALE OR DISTRIBUTION THEREOF, AND MAY NOT
BE SOLD, TRANSFERRED OR DISPOSED OF WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH TRANSFER OR DISPOSITION
DOES NOT VIOLATE THE SECURITIES ACT OF 1933, AS AMENDED, THE RULES AND REGULATIONS THEREUNDER OR OTHER APPLICABLE SECURITIES LAWS.

 

    	9

    	 

    

 

(b)          Equal
Treatment of Purchasers. 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 is also offered to all of the parties to the
Transaction Documents. For clarification purposes, this provision constitutes a separate right granted to each Purchaser by the
Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall
not in any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting
of Shares or otherwise.

 

(c)          Form
D and Blue Sky. The Company agrees to file a Form D with respect to the sale of the Shares as required under Regulation D.
The Company, on or before the Closing, shall take such action as the Company shall reasonably determine is necessary in order to
obtain an exemption for or to qualify the Shares for sale to the Purchasers 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 make all filings and reports relating to the offer and sale of the Shares required under applicable securities or “Blue
Sky” laws of the states of the United States following the Closing.

 

(d)          Lock-Up
Agreements. Investors agree in connection with an initial public offering that occurs after a closing of the Offering, that
unless waived in writing by the managing underwriter, not to sell or transfer any shares of Common Stock of the Company for a period
of up to 180 days, plus up to an additional 20 days to the extent necessary to comply with applicable regulatory requirements following
such public offering. Such lock-up agreement shall provide that any discretionary waiver or termination of the restrictions of
such agreements by the Company or representatives of the underwriters shall apply to investors in this Offering, pro rata, based
on the number of shares held.

 

6.          Indemnification.
Purchaser agrees to indemnify, defend and hold harmless the Company and its respective affiliates and agents from and against any
and all demands, claims, actions or causes of action, judgments, assessments, losses, liabilities, damages or penalties and reasonable
attorneys’ fees and related disbursements incurred by the Company that arise out of or result from a breach of any representations
or warranties made by Purchaser herein, and Purchaser agrees that in the event of any breach of any representations or warranties
made by Purchaser herein, the Company may, at its option, forthwith rescind the sale of the Shares to Purchaser.

 

7.          Confidentiality.
Purchaser acknowledges and agrees that:

 

(a)          The
information contained herein is of a confidential nature and may be regarded as material non-public information under Regulation
FD of the Securities Act. 

 

    	10

    	 

    

 

(b)          This
Agreement has been furnished to Purchaser by the Company for the sole purpose of enabling Purchaser to consider and evaluate an
investment in the Company, and will be kept confidential by Purchaser and not used for any other purpose.

 

(c)          Until
the time the information contained herein has been adequately disseminated to the public, the existence of this Agreement and the
information contained herein shall not, without the prior written consent of the Company, be disclosed by Purchaser to any person
or entity, other than Purchaser’s personal financial and legal advisors for the sole purpose of evaluating an investment
in the Company, and Purchaser will not, directly or indirectly, disclose or permit Purchaser’s personal financial and legal
advisors to disclose, any of such information without the prior written consent of the Company.

 

(d)          Purchaser
shall make its representatives aware of the terms of this Section 7 and to be responsible for any breach of this Agreement by such
representatives. 

 

(e)          Purchaser
shall not, without the prior written consent of the Company, directly or indirectly, make any statements, public announcements
or release to trade publications or the press with respect to the contents or subject matter of this Agreement. 

 

(f)          If
Purchaser decides to not pursue further investigation of the Company or to not participate in the Offering, Purchaser will promptly
return this Agreement and any accompanying documentation to the Company.

 

8.             INTENTIONALLY
OMITTED

 

9.             Entire
Agreement; No Third Party Beneficiaries. This Agreement contains the entire agreement between the parties and supersedes all
prior agreements and understandings, both written and oral, between the parties with respect to the subject matter hereto, and
no party shall be liable or bound to any other party in any manner by any warranties, representations, guarantees or covenants
except as specifically set forth in this Agreement and the Transaction Documents. Purchaser acknowledges and agrees that, with
the exception of the information contained or incorporated by reference in the Offering Documents, Purchaser did not rely upon
any statements or information, whether oral or written, provided by the Company, or any of its officers, directors, employees,
agents or representatives, in deciding to enter into this Agreement or purchase the Shares. Nothing in this Agreement, express
or implied, is intended to confer upon any person other than the parties hereto or their respective successors and assigns any
rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

10.           Amendment
and Modification. This Agreement may not be amended, modified or supplemented except by an instrument or instruments in writing
signed by the Company and the holders of a majority of the Shares sold in the Offering.

 

    	11

    	 

    

 

11.         Extensions
and Waivers. At any time prior to the Closing, the parties hereto entitled to the benefits of a term or provision may (a) extend
the time for the performance of any of the obligations or other acts of the parties hereto, (b) waive any inaccuracies in the representations
and warranties contained herein or in any document, certificate or writing delivered pursuant hereto, or (c) waive compliance with
any obligation, covenant, agreement or condition contained herein. Any agreement on the part of a party to any such extension or
waiver shall be valid only if set forth in an instrument or instruments in writing signed by the Company and the holders of a majority
of the Shares sold in the Offering. No failure or delay on the part of any party hereto in the exercise of any right hereunder
shall impair such right or be construed to be a waiver of, or acquiescence in, any breach of any representation, warranty, covenant
or agreement.

 

12.         Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and assigns; provided, however, that the Company may not assign its rights or delegate its obligations under this
Agreement without the express prior written consent of the Purchaser. Except as provided in Section 6, nothing in this Agreement
is intended to confer upon any person not a party hereto (and their successors and assigns) any rights, remedies, obligations or
liabilities under or by reason of this Agreement.

 

13.         Survival
of Representations, Warranties and Covenants. The representations and warranties contained herein shall survive the Closing
and shall thereupon terminate 18 months from the Closing, except that the representations contained in Sections 3(a), 3(b), 4(a),
and 4(b) shall survive indefinitely. All covenants and agreements contained herein which by their terms contemplate actions following
the Closing shall survive the Closing and remain in full force and effect in accordance with their terms. All other covenants and
agreements contained herein shall not survive the Closing and shall thereupon terminate.

 

14.         Headings;
Definitions. The Section headings contained in this Agreement are inserted for convenience of reference only and will not affect
the meaning or interpretation of this Agreement. All references to Sections contained herein mean Sections of this Agreement unless
otherwise stated. All capitalized terms defined herein are equally applicable to both the singular and plural forms of such terms.         

 

15.         Severability.
If any provision of this Agreement or the application thereof to any person or circumstance is held to be invalid or unenforceable
to any extent, the remainder of this Agreement shall remain in full force and effect and shall be reformed to render the Agreement
valid and enforceable while reflecting to the greatest extent permissible the intent of the parties.

 

16.         Notices.
All notices hereunder shall be sufficiently given for all purposes hereunder if in writing and delivered personally, sent by documented
overnight delivery service or, to the extent receipt is confirmed, telecopy, telefax or other electronic transmission service to
the appropriate address or number as set forth below:

 

    	12

    	 

    

 

If to the Company:

 

Armada Water Assets, Inc.

2425 Fountain View Drive, Suite
300

Houston, TX 77057

Fax (832) 262-4606

Attention: Sami Ahmad

 

with a copy to:

 

Fox Rothschild LLP

2000 Market Street, 20th
Floor

Philadelphia, PA 19103

Fax (215) 299-2744

Attention: Stephen M. Cohen,
Esquire

 

If to Purchaser:

 

To that address indicated on
the signature page hereof.

 

17.         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to
the laws that might otherwise govern under applicable principles of conflicts of laws thereof.

 

18.         Arbitration.
If a dispute arises as to the interpretation of this Agreement, it shall be decided in an arbitration proceeding conforming to
the Rules of the American Arbitration Association applicable to commercial arbitration then in effect at the time of the dispute.
The arbitration shall take place in Philadelphia, PA. The decision of the arbitrators shall be conclusively binding upon the parties
and final and such decision shall be enforceable as a judgment in any court of competent jurisdiction. The parties shall share
equally the costs of the arbitration.

 

19.         Counterparts.
This Agreement may be executed and delivered by facsimile in two or more counterparts, each of which shall be deemed to be an original,
but all of which together shall constitute one and the same agreement.

 

[Signature page follows]

 

    	13

    	 

    

 

IN WITNESS WHEREOF,
intending to be legally bound, the parties hereto have caused this Agreement to be executed as of the date set forth below.

  

	 	PURCHASER
	 	 
	Date: ____________________, 2014	 
	 	 
	 	By: 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	Address:	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	Phone:	 
	 	 	 	 
	 	 	Social Security
	 	 	or Tax ID No.: _______________________________
	 	 
	 	Number of Shares Purchased: ____________________
	 	 
	 	Aggregate Purchase Price: $________________________
	 	 
	 	Delivery Instructions (if different than Address):
	 	 
	 	 
	 	 
	 	 

  

ACCEPTANCE OF SUBSCRIPTION 

 

	 	ARMADA WATER ASSETS, INC. 
	 	 
	 	By: 	 
	Date:____________________, 2014	 	Name:	 
	 	 	Title:	 

 

    	14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00232-of-00352.parquet"}]]