Document:

Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

This SECURITIES
PURCHASE AGREEMENT (the “Agreement”) is dated as of and effective as of October, 2017 (the “Effective
Date”), by and between Meridian Waste Solutions, Inc., a corporation incorporated under the laws of the State of New
York (the “Company”), and the investors set forth on the signature page hereof (the “Purchasers”).

 

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

 

WHEREAS,
Purchasers desire to purchase from the Company, and the Company desires to sell and issue to Purchasers, upon the terms and subject
to the conditions contained herein, units consisting of shares of Series E Preferred Stock with a liquidation preference of $12.00
per share (the “Preferred Stock”), the certificate of designation of which is in the form attached hereto as
Exhibit A, and warrants to purchase shares of Common Stock (the “Warrants”), in the form attached hereto
as Exhibit B.

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants of the parties hereinafter expressed and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto, each intending to be legally bound, agree as follows:

 

ARTICLE I

RECITALS, EXHIBITS, SCHEDULES

 

The foregoing
recitals are true and correct and, together with the Schedules and Exhibits referred to hereafter, are hereby incorporated into
this Agreement by this reference.

 

ARTICLE II

DEFINITIONS

 

For purposes
of this Agreement, except as otherwise expressly provided or otherwise defined elsewhere in this Agreement, or unless the context
otherwise requires, the capitalized terms in this Agreement shall have the meanings assigned to them in the Preferred Stock or
this Article as follows:

 

2.1  
“Affiliate” means, with respect to a Person, any other Person directly or indirectly controlling,
controlled by, or under common control with, such Person at any time during the period for which the determination of affiliation
is being made. For purposes of this definition, the term “control,” “controlling” “controlled”
and words of similar import, when used in this context, means, with respect to any Person, the possession, directly or indirectly,
of the power to direct, or cause the direction of, management policies of such Person, whether through the ownership of voting
securities, by contract or otherwise.

 

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2.2  
“Assets” means all of the properties and assets of the Person in question, as the context may
so require, whether real, personal or mixed, tangible or intangible, wherever located, whether now owned or hereafter acquired.

 

2.3  
“Business Day” shall mean any day other than a Saturday, Sunday or a legal holiday on which federal
banks are authorized or required to be closed for the conduct of commercial banking business.

 

2.4  
“Claims” means any Proceedings, Judgments, Obligations, threats, losses, damages, deficiencies,
settlements, assessments, charges, costs and expenses of any nature or kind.

 

2.5  
“Common Stock” means the common stock of the Company, par value $0.025 per share.

 

2.6  
“Common Stock Equivalents” means any securities of the Company or its subsidiaries which would
entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right,
option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles
the holder thereof to receive, Common Stock.

 

2.7  
“Consent” means any consent, approval, order or authorization of, or any declaration, filing or
registration with, or any application or report to, or any waiver by, or any other action (whether similar or dissimilar to any
of the foregoing) of, by or with, any Person, which is necessary in order to take a specified action or actions, in a specified
manner and/or to achieve a specific result.

 

2.8  
“Contract” means any written or oral contract, agreement, order or commitment of any nature whatsoever,
including, any sales order, purchase order, lease, sublease, license agreement, services agreement, loan agreement, mortgage, security
agreement, guarantee, management contract, employment agreement, consulting agreement, partnership agreement, shareholders agreement,
buy-sell agreement, option, warrant, Preferred Stock, subscription, call or put required to be filed as an exhibit to the SEC Filings
(as that term is defined below).

 

2.9  
“Preferred Stock” shall have the meaning given to it in the preamble hereof.

 

2.10 
“Effective Date” means the date so defined in the introductory paragraph of this Agreement.

 

2.11 “Encumbrance” means any lien, security interest, pledge, mortgage, easement, leasehold, assessment,
tax, covenant, restriction, reservation, conditional sale, prior assignment, or any other encumbrance, claim, burden or charge
of any nature whatsoever.

 

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2.12  
“Environmental Requirements” means all Laws and requirements relating to human, health, safety
or protection of the environment or to emissions, discharges, releases or threatened releases of pollutants, contaminants, or Hazardous
Materials in the environment (including, without limitation, ambient air, surface water, ground water, land surface or subsurface
strata), or otherwise relating to the treatment, storage, disposal, transport or handling of any Hazardous Materials.

 

2.13  
“GAAP” means generally accepted accounting principles, methods and practices set forth in the
opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants, and
statements and pronouncements of the Financial Accounting Standards Board, or of such other Person as may be approved by a significant
segment of the U.S. accounting profession, in each case as of the date or period at issue, and as applied in the U.S. to U.S. companies.

 

2.14   
“Governmental Authority” means any foreign, federal, state or local government, or any political
subdivision thereof, or any court, agency or other body, organization, group, stock market or exchange exercising any executive,
legislative, judicial, quasi-judicial, regulatory or administrative function of government.

 

2.15  
“Hazardous Materials” means: (i) any chemicals, materials, substances or wastes which are now
or hereafter become defined as or included in the definition of “hazardous substances,” “hazardous wastes,”
“hazardous materials,” “extremely hazardous wastes,” “restricted hazardous wastes,” “toxic
substances,” “toxic pollutants” or words of similar import, under any Law; and (iii) any other chemical, material,
substance, or waste, exposure to which is now or hereafter prohibited, limited or regulated by any Governmental Authority.

 

2.16  
“Judgment” means any order, writ, injunction, fine, citation, award, decree, or any other judgment
of any nature whatsoever of any Governmental Authority.

 

2.17  
“Law” means any provision of any law, statute, ordinance, code, constitution, charter, treaty,
rule or regulation of any Governmental Authority.

 

 2.18   “Leases” means all leases for real or personal property.

 

2.19  “Material Adverse Effect” shall mean: (i) a material adverse change in, or a material adverse
effect upon, the Assets, business, prospects, properties, financial condition or results of operations of the Company; (ii) a material
impairment of the ability of the Company to perform any of its Obligations under any of the Transaction Documents; or (iii) a material
adverse effect on: (A) the legality, validity, binding effect or enforceability against the Company of any of the Transaction Documents;
(B) the rights or remedies of the Purchasers under any of the Transaction Documents; or (C) a material adverse effect or impairment
on the Purchaser’s ability to sell the shares of the Company’s Common Stock issuable to Purchasers under any Transaction
Documents without limitation or restriction. For purposes of determining whether any of the foregoing changes, effects, impairments,
or other events have occurred, such determination shall be made by each Purchaser, in its sole, but reasonably exercised, discretion.

 

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2.20  
“Obligation” means, now existing or in the future, any debt, liability or obligation of any nature
whatsoever (including any required performance of any covenants or agreements), whether secured, unsecured, recourse, nonrecourse,
liquidated, unliquidated, accrued, voluntary or involuntary, direct or indirect, absolute, fixed, contingent, ascertained, unascertained,
known, unknown, whether or not jointly owed with others, whether or not from time to time decreased or extinguished and later decreased,
created or incurred, or obligations under Contracts, existing or incurred under this Agreement or the Preferred Stock, as such
obligations may be amended, supplemented, converted, extended or modified from time to time.

 

2.21  
“Ordinary Course of Business” means the ordinary course of business of the Person in question,
consistent with past custom and practice (including with respect to quantity, quality and frequency).

 

2.22  
“Permit” means any license, permit, approval, waiver, order, authorization, right or privilege
of any nature whatsoever, granted, issued, approved or allowed by any Governmental Authority.

 

2.23  
“Person” means any individual, sole proprietorship, joint venture, partnership, company, corporation,
association, cooperation, trust, estate, Governmental Authority, or any other entity of any nature whatsoever.

 

2.24  
“Proceeding” means any demand, claim, suit, action, litigation, investigation, audit, study, arbitration,
administrative hearing, or any other proceeding of any nature whatsoever.

 

2.25  
“Registration Rights Agreement” means the registration rights agreement between the Company and
each Purchaser, in the form of Exhibit C hereto.

 

2.26  
“Securities” means, collectively, the Preferred Stock, Common Stock and Warrants and any additional
shares of Common Stock issuable (i) in connection with a conversion of the Preferred Stock, (ii) exercise of the Warrants or (iii)
issuance in accordance with any of the terms or provisions of this Agreement or any other Transaction Documents.

 

2.27  
 “Tax” means (i) any foreign, federal, state or local income, profits, gross receipts, franchise,
sales, use, occupancy, general property, real property, personal property, intangible property, transfer, fuel, excise, accumulated
earnings, personal holding company, unemployment compensation, social security, withholding taxes, payroll taxes, or any other
tax of any nature whatsoever, (ii) any foreign, federal, state or local organization fee, qualification fee, annual report fee,
filing fee, occupation fee, assessment, rent, or any other fee or charge of any nature whatsoever, or (iii) any deficiency, interest
or penalty imposed with respect to any of the foregoing.

 

2.28  
“Tax Return” means any tax return, filing, declaration, information statement or other form or
document required to be filed in connection with or with respect to any Tax.

 

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2.29  
“Transaction Documents” means this Agreement any and all documents or instruments executed or
to be executed by the Company in connection with this Agreement, including the Preferred Stock and the Warrants, together with
all modifications, amendments, extensions, future advances, renewals, and substitutions thereof.

 

2.30  
“Underlying Shares” means collectively the shares of Common Stock issuable upon conversion of
the Preferred Stock and the shares of Common Stock issuable upon exercise of the Warrants.

 

2.31  
“Unit” means a unit of Securities to be purchased consisting of (i) one (1) share of Preferred
Stock, and (ii) fifteen (15) Warrants.

 

2.32  
“Variable Rate Transaction” shall have the meaning set forth in Section 4.5 of this Agreement.

 

2.33  
“Voting Agreement” shall have the meaning set forth in Section 7.1 of this Agreement.

 

2.34  
“Warrant(s)” means the five (5) year Common Stock Purchase Warrants of the Company, the form of
which is attached hereto as Exhibit B.

 

2.35  
“Warrant Shares” means all shares of Common Stock issuable upon exercise of the Warrants and/or
any other securities issuable upon exercise of the Warrants.

 

ARTICLE III

INTERPRETATION

 

In this
Agreement, unless the express context otherwise requires: (i) the words “herein,” “hereof” and “hereunder”
and words of similar import refer to this Agreement as a whole and not to any particular provision of this Agreement; (ii) references
to the words “Article” or “Section” refer to the respective Articles and Sections of this Agreement, and
references to “Exhibit” or “Schedule” refer to the respective Exhibits and Schedules attached hereto; (iii)
references to a “party” mean a party to this Agreement and include references to such party’s permitted successors
and permitted assigns; (iv) references to a “third party” mean a Person not a party to this Agreement; (v) references
to the words “share” or “shareholder”, if in reference to the Company, shall refer to “units”
or “unitholder” respectively and (v) the terms “dollars” and “$” means U.S. dollars; (vi) wherever
the word “include,” “includes” or “including” is used in this Agreement, it will be deemed
to be followed by the words “without limitation”.

 

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ARTICLE IV

PURCHASE
AND SALE OF UNITS

 

4.1  
Purchase and Sale of Units. Subject to the satisfaction (or waiver) of the terms and conditions of this Agreement,
Purchasers agree to purchase, and Company agrees to sell and issue to Purchasers, up to 300,000 Units for the Purchase Price set
forth on Schedule 1 attached hereto. The Purchase Price for each Unit shall be ten dollars ($10.00). The aggregate Purchase Price
for the Units which may be purchased under this Agreement shall not exceed $3,000,000.

 

4.2  
Closing Date. The purchase and sale of the Units shall take place on the Effective Date, or such later date
as the Company and the Purchasers may agree in writing, subject to satisfaction of the conditions set forth in this Agreement (the
“Closing Date”).

 

4.3  Form of Payment. Subject to the satisfaction of the terms and conditions of this Agreement, on the Closing Date:
(i) the Purchasers shall deliver to the Company, to a Company account designated by the Company, the Purchase Price for the Preferred
Stock and Warrants to be issued and sold to Purchasers, minus the fees to be paid directly from the proceeds as set forth in this
Agreement, in the form of wire transfers of immediately available U.S. dollars; and (ii) the Company shall deliver to Purchasers
the Securities which each Purchaser is purchasing hereunder, duly executed on behalf of the Company, together with any other documents
required to be delivered pursuant to this Agreement.

 

ARTICLE V

PURCHASERS’ REPRESENTATIONS
AND WARRANTIES

 

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

 

5.1  
Investment Purpose. Purchaser is acquiring the Securities for its own account for investment only and not with a
view towards, or for resale in connection with, the public sale or distribution thereof.

 

5.2  
Accredited Purchaser Status. Purchaser is an “accredited investor” as that term is defined in Rule 501
of Regulation D, as promulgated under the Securities Act of 1933.

 

5.3  
Reliance on Exemptions. Purchaser understands that the Securities are being offered and sold to it in reliance on
specific exemptions from the registration requirements of United States federal and state securities laws and that the Company
is relying in part upon the truth and accuracy of, and Purchaser’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of Purchasers set forth herein in order to determine the availability of such exemptions and
the eligibility of Purchaser to acquire the Securities.

 

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5.4  
Information. Purchaser and its advisors, if any, have been furnished with all materials they have requested relating
to the business, finances and operations of the Company and information Purchaser deemed material to making an informed investment
decision regarding its purchase of the Securities. Purchaser and its advisors, if any, have been afforded the opportunity to ask
questions of the Company and its management and have received response from the Company or management satisfactory to the Purchaser.
 Purchaser acknowledges receipt of the disclosures contained on Exhibit D attached hereto, entitled “Company
Disclosures.” Neither such inquiries, nor any materials provided to Purchasers, nor any other due diligence investigations
conducted by Purchaser or its advisors, if any, or its representatives, shall modify, amend or affect Purchaser’s right to
fully rely on the Company’s representations and warranties contained in Article VI below. Purchaser understands that its
investment in the Securities involved a high degree of risk.  Purchaser is in a position regarding the Company, which, based
upon economic bargaining power, enabled and enables Purchaser to obtain information from the Company in order to evaluate the merits
and risks of this investment. Purchaser has sought such accounting, legal and tax advice as it has considered necessary to make
an informed investment decision with respect to its acquisition of the Securities.

 

5.5  No
Governmental Review. Purchaser understands that no United States federal or state Governmental Authority has passed on or
made any recommendation or endorsement of the Securities, or the fairness or suitability of the investment in the Securities,
nor have such Governmental Authorities passed upon or endorsed the merits of the offering of the Securities.

 

5.6  
Authorization, Enforcement. This Agreement has been duly and validly authorized, executed and delivered on
behalf of Purchasers and is a valid and binding agreement of Purchaser, enforceable in accordance with its terms, except as such
enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and
remedies.

 

ARTICLE VI

REPRESENTATIONS
AND WARRANTIES OF THE COMPANY

 

To induce
the Purchasers to purchase the Securities, the Company makes the following representations and warranties to Purchasers, each of
which shall be true and correct in all respects as of the date of the execution and delivery of this Agreement, and which shall
survive the execution and delivery of this Agreement:

 

6.1  
Organization. The Company is a corporation, duly incorporated, validly existing and in good standing under
the Laws of the State of New York. The Company has the full power and authority and all necessary certificates, licenses, approvals
and Permits to: (i) enter into and execute this Agreement and the Transaction Documents and to perform all of its Obligations hereunder
and thereunder; and (ii) own and operate its Assets and properties and to conduct and carry on its business as and to the extent
now conducted. The Company is duly qualified to transact business and is in good standing as a foreign corporation in each jurisdiction
where the character of its business or the ownership or use and operation of its Assets or properties requires such qualification.
The exact legal name of the Company is as set forth in the preamble to this Agreement, and the Company does not currently conduct,
nor has the Company, during the last five (5) years conducted, business under any other name or trade name.

 

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6.2  
Authority and Approval of Agreement; Binding Effect. The execution and delivery by Company of this Agreement
and the Transaction Documents, and the performance by Company of all of its Obligations hereunder and thereunder, including the
issuance of the Securities, have been duly and validly authorized and approved by the Company and its board of directors pursuant
to all applicable Laws and no other action or Consent on the part of Company, its board directors or any other Person is necessary
or required by the Company to execute this Agreement and the Transaction Documents, consummate the transactions contemplated herein
and therein, perform all of Company’s Obligations hereunder and thereunder, or to issue the Securities. This Agreement and
each of the Transaction Documents have been duly and validly executed by Company (and the officer executing this Agreement and
all such other Transaction Documents is duly authorized to act and execute same on behalf of Company) and constitute the valid
and legally binding agreements of Company, enforceable against Company in accordance with their respective terms, except as such
enforceability may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and
remedies.

  

6.3  
Capitalization. The authorized capital stock of the Company consists of 75,000,000 shares of Common Stock, par value
$0.025 per share, of which 10,280,275 shares are issued and outstanding and the following preferred stock: (i) 51 shares of Series
A Preferred Stock authorized of which 51 shares of Series A Preferred Stock are issued and outstanding; (ii) 71,120 shares of Series
B Preferred Stock authorized of which 0 shares of Series B Preferred Stock are issued and outstanding; (iii) 67,361 shares of Series
C Preferred Stock authorized of which 0 shares of Series C Preferred Stock are issued and outstanding; (iv) 141,000 shares of Series
D Preferred Stock authorized, of which 141,000 shares are issued and outstanding; and (v) 4,720,468 shares of undesignated “blank
check” preferred stock. All of such outstanding shares have been validly issued and are fully paid and nonassessable, have
been issued in compliance with all foreign, federal and state securities laws and none of such outstanding shares were issued in
violation of any preemptive rights or similar rights to subscribe for or purchase securities. The Company has no subsidiaries other
than Here to Serve – Missouri Waste Division, LLC, Here to Serve – Georgia Waste Division, LLC, Meridian Waste Operations,
Inc., Meridian Land Company, LLC, Christian Disposal, LLC, FWCD, LLC, The CFS Group, LLC, The CFS Group Disposal& Recycling
Services, LLC, RWG5, LLC, Meridian Waste Missouri, LLC, Meridian Innovations, LLC and Mobile Science Technologies, LLC. As of the
Effective Date, no shares of the Company’s capital stock are subject to preemptive rights or any other similar rights or
any Claims or Encumbrances suffered or permitted by the Company. Except for the Securities to be issued pursuant to this Agreement,
and except as disclosed in the Company’s filings with the Securities and Exchange Commission (the “SEC Filings”),
as of the date hereof: (i) there are no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any
character whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company, or Contracts,
commitments, understandings or arrangements by which the Company is or may become bound to issue additional shares of capital stock
of the Company, or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating
to, or securities or rights convertible into, any shares of capital stock of the Company; (ii) except as disclosed in the SEC Filings,
there are no outstanding debt securities, notes, credit agreements, credit facilities or other Contracts or instruments evidencing
indebtedness of the Company or any of its, or by which the Company is or may become bound; (iii) there are no outstanding registration
statements with respect to the Company or any of its securities; (iv) there are no agreements or arrangements under which the Company
is obligated to register the sale of any of their securities under the Securities Act (except pursuant to this Agreement); (v)
there are no financing statements securing obligations filed in connection with the Company or any of its Assets expect as set
forth in the SEC Reports; (vi) there are no securities or instruments containing anti-dilution or similar provisions that will
be triggered by this Agreement or any related agreement or the consummation of the transactions described herein or therein; and
(vii) there are no outstanding securities or instruments of the Company which contain any redemption or similar provisions, and
there are no Contracts by which the Company is or may become bound to redeem a security of the Company. The Company has furnished
to the Purchasers true, complete and correct copies of: (I) the Company’s Articles of Incorporation, as amended and as in
effect on the date hereof; and (II) the Company’s Bylaws, as in effect on the date hereof (together, the “Organizational
Documents”). Except for the Organizational Documents, there are no other shareholder agreements, voting agreements or other
Contracts of any nature or kind that restrict, limit or in any manner impose Obligations on the governance of the Company. No further
approval or authorization of any stockholder, the Board of Directors or others is required for the issuance and sale of the Securities.

 

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6.4  
No Conflicts; Consents and Approvals. The execution, delivery and performance of this Agreement and the Transaction
Documents, and the consummation of the transactions contemplated hereby and thereby, including the issuance of any of the Securities,
will not: (i) constitute a violation of or conflict with the Organizational Documents of the Company; (ii) constitute a violation
of, or a default or breach under (either immediately, upon notice, upon lapse of time, or both), or conflicts with, or gives to
any other Person any rights of termination, amendment, acceleration or cancellation of, any provision of any Contract to which
Company is a party or by which any of its Assets or properties may be bound, other than the Amended and Restated Credit Agreement
dated February 15, 2017, as amended, and the Underwriting Agreement dated June 28, 2017; (iii) constitute a violation of, or a
default or breach under (either immediately, upon notice, upon lapse of time, or both), or conflict with, any Judgment; (iv) constitute
a violation of, or conflict with, any Law (including United States federal and state securities Laws); or (v) result in the loss
or adverse modification of, or the imposition of any fine, penalty or other Encumbrance with respect to, any Permit granted or
issued to, or otherwise held by or for the use of, Company or any of Company’s Assets. The Company is not in violation of
its Organizational Documents and the Company is not in default or breach (and no event has occurred which with notice or lapse
of time or both could put the Company in default or breach) under, and the Company has not taken any action or failed to take any
action that would give to any other Person any rights of termination, amendment, acceleration or cancellation of, any Contract
to which the Company is a party or by which any property or Assets of the Company are bound or affected. The businesses of the
Company are not being conducted, and shall not be conducted so long as Purchasers own any of the Securities, in violation of any
Law. Except as specifically contemplated by this Agreement, the Company is not required to obtain any Consent of, from, or with
any Governmental Authority, or any other Person, in order for it to execute, deliver or perform any of its Obligations under this
Agreement or the Transaction Documents in accordance with the terms hereof or thereof, or to issue and sell the Securities in accordance
with the terms hereof. All Consents which the Company is required to obtain pursuant to the immediately preceding sentence have
been obtained or effected on or prior to the date hereof. The Company is not aware of any facts or circumstances which might give
rise to any of the foregoing.

 

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6.5  
Issuance of Securities. The Securities are duly authorized and, upon issuance in accordance with the terms
hereof, shall be duly issued, fully paid and non-assessable, and free from all Encumbrances with respect to the issue thereof,
and will be issued in compliance with all applicable United States federal and state securities Laws.

 

6.6  
Absence of Litigation or Adverse Matters. No condition, circumstance, event, agreement, document, instrument,
restriction, litigation or Proceeding (or threatened litigation or Proceeding or basis therefor) exists which: (i) could adversely
affect the ability of the Company to perform its Obligations under the Transaction Documents; (ii) would constitute a default under
any of the Transaction Documents; (iii) would constitute such a default with the giving of notice or lapse of time or both; or
(iv) would constitute or give rise to a Material Adverse Effect. In addition: (v) there is no Proceeding before or by any Governmental
Authority or any other Person, pending, or the best of Company’s knowledge, threatened or contemplated by, against or affecting
the Company, its business or Assets; (vi) there is no outstanding Judgments against or affecting the Company, its business or Assets;
(vii) the Company is not in breach or violation of any Contract; and (viii) the Company has not received any material complaint
from any customer, supplier, vendor or employee.

 

6.7  
Title to Assets. The Company has good and marketable title to, or a valid leasehold interest in, all of its
Assets which are material to the business and operations of the Company as presently conducted, free of any Encumbrance, except
as set forth herein. Except as would not have a Material Adverse Effect, the Company’s Assets are in good operating condition
and repair, ordinary wear and tear excepted, and are free of any latent or patent defects which might impair their usefulness,
and are suitable for the purposes for which they are currently used and for the purposes for which they are proposed to be used.

 

6.8  
Compliance with Laws. The Company is and at all times has been in full compliance with all Laws, except for
any instances which would not have a Material Adverse Effect. The Company has not received any notice that it is in violation of,
has violated, or is under investigation with respect to, or has been threatened to be charged with, any violation of any Law.

 

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6.9  
Labor and Employment Matters. The Company is not involved in any labor dispute or, to the knowledge of the
Company, is any such dispute threatened. To the knowledge of the Company and its officers, none of the Company’s employees
is a member of a union and the Company believes that its relations with its employees are good. To the knowledge of the Company
and its officers, the Company has complied in all material respects with all Laws relating to employment matters, civil rights
and equal employment opportunities.

 

6.10  
Employee Benefit Plans. Except as disclosed to the Purchasers in writing prior to the date hereof, the Company
does not have and has not ever maintained, and has no Obligations with respect to any employee benefit plans or arrangements, including
employee pension benefit plans, as defined in Section 3(2) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
multiemployer plans, as defined in Section 3(37) of ERISA, employee welfare benefit plans, as defined in Section 3(1) of ERISA,
deferred compensation plans, stock option plans, bonus plans, stock purchase plans, hospitalization, disability and other insurance
plans, severance or termination pay plans and policies, whether or not described in Section 3(3) of ERISA, in which employees,
their spouses or dependents of the Company participate (collectively, the “Employee Benefit Plans”). To the
Company’s knowledge, all Employee Benefit Plans meet the minimum funding standards of Section 302 of ERISA, where applicable,
and each such Employee Benefit Plan that is intended to be qualified within the meaning of Section 401 of the Internal Revenue
Code of 1986 is qualified. No withdrawal liability has been incurred under any such Employee Benefit Plans and no “Reportable
Event” or “Prohibited Transaction” (as such terms are defined in ERISA), has occurred with respect to any such
Employee Benefit Plans, unless approved by the appropriate Governmental Authority. To the Company’s knowledge, the Company
has promptly paid and discharged all Obligations arising under ERISA of a character which if unpaid or unperformed might result
in the imposition of an Encumbrance against any of its Assets or otherwise have a Material Adverse Effect.

 

6.11  
Tax Matters. The Company has made and timely filed all Tax Returns required by any jurisdiction to which it
is subject, and each such Tax Return has been prepared in compliance with all applicable Laws, and all such Tax Returns are true
and accurate in all respects. Except and only to the extent that the Company has set aside on its books provisions reasonably adequate
for the payment of all unpaid and unreported Taxes, the Company has timely paid all Taxes shown or determined to be due on such
Tax Returns, except those being contested in good faith, and the Company has set aside on its books provision reasonably adequate
for the payment of all Taxes for periods subsequent to the periods to which such Tax Returns apply. There are no unpaid Taxes in
any material amount claimed to be due by the taxing authority of any jurisdiction, and the officers of the Company know of no basis
for any such claim. The Company has withheld and paid all Taxes to the appropriate Governmental Authority required to have been
withheld and paid in connection with amounts paid or owing to any Person. There is no Proceeding or Claim for refund now in progress,
pending or threatened against or with respect to the Company regarding Taxes.

 

    	 	11	 

     

    

 

6.12  
Insurance. The Company is covered by valid, outstanding and enforceable policies of insurance which were issued
to it by reputable insurers of recognized financial responsibility, covering its properties, Assets and businesses against losses
and risks normally insured against by other corporations or entities in the same or similar lines of businesses as the Company
is engaged and in coverage amounts which are prudent and typically and reasonably carried by such other corporations or entities
(the “Insurance Policies”). Such Insurance Policies are in full force and effect, and all premiums due thereon
have been paid. None of the Insurance Policies will lapse or terminate as a result of the transactions contemplated by this Agreement.
The Company has complied with the provisions of such Insurance Policies. The Company has not been refused any insurance coverage
sought or applied for and the Company does not have any reason to believe that it will not be able to renew its existing Insurance
Policies as and when such Insurance Policies expire or to obtain similar coverage from similar insurers as may be necessary to
continue its business at a cost that would not materially and adversely affect the condition, financial or otherwise, or the earnings,
business or operations of the Company.

 

6.13  
Permits. The Company possesses all Permits necessary to conduct its business, and the Company has not received
any notice of, or is otherwise involved in any Proceedings relating to, the revocation or modification of any such Permits. All
such Permits are valid and in full force and effect and the Company is in full compliance with the respective requirements of all
such Permits.

 

6.14  
Environmental Laws. Except as are used in such amounts as are customary in the Company’s Ordinary
Course of Business and in compliance with all applicable Environmental Laws, the Company represents and warrants to Purchasers
that: (i) the Company has not generated, used, stored, treated, transported, manufactured, handled, produced or disposed of any
Hazardous Materials, on or off any of the premises of the Company (whether or not owned by the Company) in any manner which at
any time violates any Environmental Law or any Permit, certificate, approval or similar authorization thereunder; (ii) the operations
of the Company comply in all material respects with all Environmental Laws and all Permits certificates, approvals and similar
authorizations thereunder; (iii) there has been no investigation, Proceeding, complaint, order, directive, Claim, citation or notice
by any Governmental Authority or any other Person, nor is any pending or, to the Company’s knowledge, threatened; and (iv)
the Company does not have any liability, contingent or otherwise, in connection with a release, spill or discharge, threatened
or actual, of any Hazardous Materials or the generation, use, storage, treatment, transportation, manufacture, handling, production
or disposal of any Hazardous Material.

 

6.15  
Illegal Payments. Neither the Company, nor any director, officer, agent, employee or other Person acting on
behalf of the Company has, in the course of his actions for, or on behalf of, the Company: (i) used any corporate funds for any
unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect
unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation
of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any bribe, rebate, payoff, influence
payment, kickback or other unlawful payment to any foreign or domestic government official or employee.

 

    	 	12	 

     

    

 

6.16  
Related Party Transactions. Except for arm’s length transactions pursuant to which the Company makes
payments in the Ordinary Course of Business upon terms no less favorable than the Company could obtain from third parties, and
except as described in the SEC filings, none of the officers, directors or employees of the Company, nor any stockholders who own,
legally or beneficially, five percent (5%) or more of the issued and outstanding shares of any class of the Company’s capital
stock (each a “Material Shareholder”), is presently a party to any transaction with the Company (other than
for services as employees, officers and directors), including any Contract providing for the furnishing of services to or by, providing
for rental of real or personal property to or from, or otherwise requiring payments to or from, any officer, director or such employee
or Material Shareholder or, to the best knowledge of the Company, any other Person in which any officer, director, or any such
employee or Material Shareholder has a substantial or material interest in or of which any officer, director or employee of the
Company or Material Shareholder is an officer, director, trustee or partner. There are no Claims or disputes of any nature or kind
between the Company and any officer, director or employee of the Company or any Material Shareholder, or between any of them, relating
to the Company and its business.

 

6.17  
Acknowledgment Regarding Purchasers’ Purchase of the Securities. The Company acknowledges and agrees
that each Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to this Agreement and the
transactions contemplated hereby. The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary
of the Company (or in any similar capacity) with respect to this Agreement and the transactions contemplated hereby and any advice
given by any Purchaser or any of its representatives or agents in connection with this Agreement and the transactions contemplated
hereby is merely incidental to Purchaser’s purchase of the Securities. The Company further represents to Purchasers that
the Company’s decision to enter into this Agreement has been based solely on the independent evaluation by the Company, and
its representatives.

 

6.18  
Brokerage Fees. There is no Person acting on behalf of the Company who is entitled to or has any claim for
any brokerage or finder’s fee or commission in connection with the execution of this Agreement or the consummation of the
transactions contemplated hereby, except for an 8% fee in cash and warrants deliverable to Garden State Securities, Inc.

 

6.19  
No General Solicitation. Neither the Company, nor any of its Affiliates, nor any Person acting on its or their
behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D under the Securities
Act) in connection with the offer or issuance of the Securities.

 

6.20  
No Disqualification Events. With respect to the Securities to be offered and sold hereunder in reliance on
Rule 506 under the Securities Act, none of the Company, any of its predecessors, any affiliated issuer, any director, executive
officer, other officer of the Company participating in the offering hereunder, any beneficial owner of 20% or more of the Company’s
outstanding voting equity securities, calculated on the basis of voting power, nor any promoter (as that term is defined in Rule
405 under the Securities Act) connected with the Company in any capacity at the time of sale (each, an “Issuer Covered Person”
and, together, “Issuer Covered Persons”) is subject to any of the “Bad Actor” disqualifications described in
Rule 506(d)(1)(i) to (viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event
covered by Rule 506(d)(2) or (d)(3). The Company has exercised reasonable care to determine whether any Issuer Covered Person is
subject to a Disqualification Event. The Company has complied, to the extent applicable, with its disclosure obligations under
Rule 506(e), and has furnished to the Purchasers a copy of any disclosures provided thereunder.

 

    	 	13	 

     

    

 

6.21  
No Integrated Offering. None of the Company, any of its Affiliates, or any Person acting on their behalf has,
directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under circumstances
that would require registration of any of the Securities under the 1933 Act or cause this offering of the Securities to be integrated
with prior offerings of the Company’s securities for purposes of the 1933 Act. None of the Company, its Affiliates and any
Person acting on their behalf will take any action or steps referred to in the preceding sentence that would require registration
of any of the Securities under the 1933 Act or cause the offering of the Securities to be integrated with other offerings.

 

6.22  
Management. During the past ten-year period, no current officer or director
or, to the knowledge of the Company, no current five percent (5%) or greater stockholder of the Company has been the subject of:

 

(i)  
a petition under bankruptcy laws or any other insolvency or moratorium law or the appointment by a court of a receiver,
fiscal agent or similar officer for such Person, or any partnership in which such person was a general partner at or within two
years before the filing of such petition or such appointment, or any corporation or business association of which such person was
an executive officer at or within two years before the time of the filing of such petition or such appointment;

 

(ii)  
a conviction in a criminal proceeding or a named subject of a pending criminal proceeding (excluding traffic violations
that do not relate to driving while intoxicated or driving under the influence);

 

(iii)  
any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction,
permanently or temporarily enjoining any such person from, or otherwise limiting, the following activities:

 

(1)  
Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker,
leverage transaction merchant, any other person regulated by the United States Commodity Futures Trading Commission or an associated
person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person,
director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing
any conduct or practice in connection with such activity;

 

    	 	14	 

     

    

 

(2)  
Engaging in any particular type of business practice; or

 

(3)  
Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any
violation of securities laws or commodities laws;

 

(iv)  any order, judgment or decree, not subsequently reversed, suspended or vacated, of any authority barring, suspending or
otherwise limiting for more than sixty (60) days the right of any such person to engage in any activity described in the preceding
sub paragraph, or to be associated with persons engaged in any such activity;

 

(v)  
a finding by a court of competent jurisdiction in a civil action or by the SEC or other authority to have violated any securities
law, regulation or decree and the judgment in such civil action or finding by the SEC or any other authority has not been subsequently
reversed, suspended or vacated; or

 

(vi)  a
finding by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated
any federal commodities law, and the judgment in such civil action or finding has not been subsequently reversed, suspended or
vacated.

 

6.23  
Full Disclosure. All the representations and warranties made by Company herein or in the Schedules hereto,
and all of the financial statements, schedules, certificates, confirmations, agreements, contracts, and other materials submitted
to the Purchasers in connection with or in furtherance of this Agreement or pertaining to the transaction contemplated herein,
whether made or given by Company, its agents or representatives, are complete and accurate to the best of the knowledge of the
Company, its officers and directors, and do not omit any information required to make the statements and information provided,
in light of the transaction contemplated herein and in light of the circumstances under which they were made, not misleading, accurate
and meaningful.

 

ARTICLE VII

COVENANTS

 

 7.1   Covenants.

 

(a)  
Corporate Existence. The Company shall at all times preserve and maintain its: (i) existence and good standing
in the jurisdiction of its organization; and (ii) its qualification to do business and good standing in each jurisdiction where
the nature of its business makes such qualification necessary, and shall at all times continue as a going concern in the business
which the Company is presently conducting.

 

(b)  
Tax Liabilities. The Company shall at all times pay and discharge all Taxes upon, and all Claims (including
claims for labor, materials and supplies) against the Company or any of its properties or Assets, before the same shall become
delinquent and before penalties accrue thereon, unless and to the extent that the same are being contested in good faith by appropriate
proceedings and for which adequate reserves in accordance with GAAP are being maintained.

 

    	 	15	 

     

    

 

(c)  
Notice of Proceedings. The Company shall, promptly, but not more than five (5) days after knowledge thereof
shall have come to the attention of any officer of the Company, give written notice to the Purchasers of all threatened or pending
material Proceedings before any Governmental Authority or otherwise affecting the Company or any of its Assets.

 

(d)  
Material Adverse Effect. The Company shall, promptly, but not more than five (5) days after knowledge thereof
shall have come to the attention of any officer of the Company, give written notice to the Purchasers of any event, circumstance,
fact or other matter that could in any way have or be reasonably expected to have a Material Adverse Effect.

 

(e)  
Notice of Default. The Company shall, promptly, but not more than five (5) days after the commencement thereof,
give notice to the Purchasers in writing of the occurrence of any “Event of Default” (as such term is defined in any
of the Transaction Documents) or of any event which, with the lapse of time, the giving of notice or both, would constitute an
Event of Default hereunder or under any other Transaction Documents.

 

(f)   Maintain
Property. The Company shall at all times maintain, preserve and keep all of its Assets in good repair, working order and condition,
normal wear and tear excepted, and shall from time to time, as the Company deems appropriate in its reasonable judgment, make all
needful and proper repairs, renewals, replacements, and additions thereto so that at all times the efficiency thereof shall be
fully preserved and maintained.

 

(g)  
ERISA Liabilities; Employee Plans. The Company shall: (i) keep in full force
and effect any and all Employee Plans which are presently in existence or may, from time to time, come into existence under ERISA,
and not withdraw from any such Employee Plans, unless such withdrawal can be effected or such Employee Plans can be terminated
without liability to the Company; (ii) make contributions to all of such Employee Plans in a timely manner and in a sufficient
amount to comply with the standards of ERISA, including the minimum funding standards of ERISA; (iii) comply with all material
requirements of ERISA which relate to such Employee Plans; (iv) notify Purchasers immediately upon receipt by the Company of any
notice concerning the imposition of any withdrawal liability or of the institution of any Proceeding or other action which may
result in the termination of any such Employee Plans or the appointment of a trustee to administer such Employee Plans; (v) promptly
advise Purchasers of the occurrence of any “Reportable Event” or “Prohibited Transaction” (as such terms
are defined in ERISA), with respect to any such Employee Plans; and (vi) amend any Employee Plan that is intended to be qualified
within the meaning of Section 401 of the Internal Revenue Code of 1986 to the extent necessary to keep the Employee Plan qualified,
and to cause the Employee Plan to be administered and operated in a manner that does not cause the Employee Plan to lose its qualified
status.

 

    	 	16	 

     

    

 

(h)  
Reservation of Shares.  So long as any Securities are owned beneficially
and/or of record by any Purchasers or any transferee thereof, the Company covenants and agrees that it will at all times reserve
and keep available out of its authorized and unissued shares of Common Stock a number of shares of Common Stock sufficient for
the sole purpose of issuance upon conversion of the Preferred Stock, payment of interest on the Preferred Stock and exercise of
the Warrants (and/or any transferee thereof), free from preemptive rights or any other actual contingent purchase rights of persons
other than the applicable Purchaser (and any other holders of any Preferred Stock and/or Warrants transferred from a Purchaser).

 

(i)  
 For so long as at least 10% of the shares of Preferred Stock sold in the Offering
remain outstanding, the Company will not, without the prior written consent of holders owning at least 75% of the number of shares
of Preferred Stock then outstanding, (i) enter into a Variable Rate Transaction, (ii) issue any additional shares of preferred
stock or debt which shall rank senior in any terms to the Preferred Stock, or (iii) reprice any outstanding shares of Common Stock
or Common Stock equivalents or issue any Common Stock or any Common Stock equivalents below $1.00 per share, excluding equity-based
awards issued at the market price for the Company’s Common Stock on the date of grant pursuant to the Company’s current
stock option plan and the issuance of Common Stock upon exercise or conversion of currently outstanding securities.

 

“Variable
Rate Transaction” means a transaction in which the Company (i) issues or sells any debt or equity securities that are convertible
into, exchangeable or exercisable for, or include the right to receive, additional shares of Common Stock either (A) at a conversion
price, exercise price or exchange rate or other price that is based upon, and/or varies with, the trading prices of or quotations
for the shares of Common Stock at any time after the initial issuance of such debt or equity securities or (B) with a conversion,
exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity
security or upon the occurrence of specified or contingent events directly or indirectly related to the business of the Company
or the market for the Common Stock or (ii) enters into, or effects any transaction under, any agreement, including, but not limited
to, an equity line of credit, an “at-the-market” offering or similar agreement, whereby the Company may issue securities
at a future determined price.

 

(j)  
On or prior to the Closing Date, each member of the Company’s Board of Directors
will enter into a voting agreement in the form of Exhibit E attached hereto, ageing to vote all shares of capital stock
owned by such parties in favor of the financing transactions contemplated by this Agreement (the “Voting Agreement”).

 

(k)  
The net proceeds of Offering will be used as follows: Landfill equipment, in the approximate
amount of $700,000, acquisition of a manufacturing facility for Meridian Innovations, LLC, a wholly owned subsidiary of the Company,
in the approximate amount of $500,000, and/or other general working capital and/or capital expenditures.

 

    	 	17	 

     

    

 

ARTICLE VIII

INDEMNIFICATION

 

8.1   Indemnification
by the Company. The Company will indemnify and hold Purchasers and their directors, officers, stockholders, members, partners,
employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding
a lack of such title or any other title), each Person who controls such Purchaser (within the meaning of Section 15 of the 1933
Act and Section 20 of the Exchange Act), and the directors, officers, stockholders, agents, members, partners or employees (and
any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any
other title) of such controlling person (each, a “Purchaser Party”) harmless from any and all losses, liabilities,
obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs
and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may suffer or incur as a result of
(i) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or any
Transaction Document or (ii) any action instituted against a Purchaser Party in any capacity, or any of them or their respective
Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with respect to any of the transactions
contemplated by this Agreement. The Company will not be liable to any Purchaser Party under this Agreement to the extent, but only
to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party’s breach of any of the representations,
warranties, covenants or agreements made by such Purchaser Party in this Agreement or any Transaction Document; provided that such
a claim for indemnification relating to any breach of any of the representations or warranties made by the Company in this Agreement
is made within 24 months from the Closing.

 

8.2   Conduct
of Indemnification Proceedings. Promptly after receipt by any Person (the “Indemnified Person”) of notice
of any demand, claim or circumstances which would or might give rise to a claim or the commencement of any action, proceeding or
investigation in respect of which indemnity may be sought pursuant to Article VIII, such Indemnified Person shall promptly notify
the Company in writing and the Company shall assume the defense thereof, including the employment of counsel reasonably satisfactory
to such Indemnified Person, and shall assume the payment of all fees and expenses; provided, however, that the failure of any Indemnified
Person so to notify the Company shall not relieve the Company of its obligations hereunder except to the extent that the Company
is actually and materially and adversely prejudiced by such failure to notify. In any such proceeding, any Indemnified Person shall
have the right to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified
Person unless: (i) the Company and the Indemnified Person shall have mutually agreed to the retention of such counsel; (ii) the
Company shall have failed promptly to assume the defense of such proceeding and to employ counsel reasonably satisfactory to such
Indemnified Person in such proceeding; or (iii) in the reasonable judgment of counsel to such Indemnified Person, representation
of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. The Company
shall not be liable for any settlement of any proceeding effected without its written consent, which consent shall not be unreasonably
withheld, delayed or conditioned. Without the prior written consent of the Indemnified Person, which consent shall not be unreasonably
withheld, delayed or conditioned, the Company shall not effect any settlement of any pending or threatened proceeding in respect
of which any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified
Party, unless such settlement includes an unconditional release of such Indemnified Person from all liability arising out of such
proceeding.

 

    	 	18	 

     

    

 

ARTICLE IX

CONDITIONS
PRECEDENT TO THE COMPANY’S OBLIGATIONS TO SELL

 

The obligation
of the Company hereunder to issue and sell the Securities to the Purchasers is subject to the satisfaction, at or before the Closing
Date, of each of the following conditions, provided that these conditions are for the Company’s sole benefit and may be waived
by the Company at any time in its sole discretion:

 

9.1   
Purchasers shall have executed the Transaction Documents and delivered the Purchase Price to the Company.

 

9.2  
The representations and warranties of the Purchasers shall be true and correct in all material respects as of the Closing
Date (except for representations and warranties that speak as of a specific date), and the Purchasers shall have performed, satisfied
and complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed,
satisfied or complied with by the Purchasers at or prior to the Closing Date.

 

9.3  
The Company shall have received such certificates, confirmations, resolutions, acknowledgements or other documentation necessary
or advisable from all applicable Governmental Authorities, including, but not limited to, those located in the State of Nevada,
as the Company may require in order to evidence such Governmental Authorities’ approval of this Agreement, the Transaction
Documents and the purchase of the Preferred Stock contemplated hereby.

 

ARTICLE X

CONDITIONS
PRECEDENT TO THE PURCHASERS’ OBLIGATIONS TO PURCHASE

 

The obligation
of the Purchasers hereunder to purchase the Preferred Stock is subject to the satisfaction, at or before the Closing Date, of each
of the following conditions (in addition to any other conditions precedent elsewhere in this Agreement), provided that these conditions
are for the Purchasers’ sole benefit and may be waived by each Purchaser at any time in its sole discretion:

 

10.1  
The Company shall have executed and delivered the Transaction Documents to the Purchasers.

 

    	 	19	 

     

    

 

10.2  
The representations and warranties of the Company shall be true and correct in all material respects (except to the extent
that any of such representations and warranties are already qualified as to materiality in Article VI above, in which case, such
representations and warranties shall be true and correct in all respects without further qualification) as of the Closing Date
(except for representations and warranties that speak as of a specific date) and the Company shall have performed, satisfied and
complied in all material respects with the covenants, agreements and conditions required by this Agreement to be performed, satisfied
or complied with by the Company at or prior to the Closing Date.

 

10.3  
The Company shall have executed and delivered to Purchasers a closing certificate, certified as true, complete and correct
by an officer of the Company, in substance and form required by Purchasers, which closing certificate shall include and attach
as exhibits: (i) a true copy of a certificate of good standing evidencing the formation and good standing of the Company from the
secretary of state (or comparable office) from the jurisdiction in which the Company is formed; (ii) the Company’s Organizational
Documents; and (iii) copies of the resolutions of the board of directors of the Company as adopted by the Company’s or board
of directors, in a form acceptable to Purchasers, approving and authorizing the execution, delivery and performance of the Transaction
Documents to which it is party and the transactions contemplated thereby, in a form acceptable to the Purchasers.

 

10.4  
No event shall have occurred which could reasonably be expected to have a Material Adverse Effect.

 

10.5  
The Preferred Stock certificate of designation shall have been filed with the New York Secretary of State.

 

10.6  
The Company shall have executed and delivered to the Purchasers the Warrant and the Registration Rights Agreement.

 

10.7  
The Company shall have executed such other agreements, certificates, confirmations or resolutions as the Purchasers may
require to consummate the transactions contemplated by this Agreement and the Transaction Documents, including a closing statement
and joint disbursement instructions as may be required by Purchasers.

 

ARTICLE XI

MISCELLANEOUS

 

11.1   Notices.
All notices of request, demand and other communications hereunder shall be addressed to the parties as follows:

 

	If to the Company:	Meridian Waste Solutions, Inc.
	 	One Glenlake Parkway NE Suite 900
	 	Atlanta, GA30328
	 	Attn: Jeffrey Cosman, CEO

 

    	 	20	 

     

    

 

	With a copy to:	
	(which shall not constitute
notice)	Lucosky
Brookman LLP
	 	101 Wood Avenue South
	 	Woodbridge, NJ 08830
	 	Attn: Joseph Lucosky, Esq.
	 	 
	If to the Purchasers	To the address set forth on the signature page hereof
	 	 
	With a copy to:	
	(which
shall not constitute notice)	Sichenzia
Ross Ference Kesner LLP
	 	1185 Avenue of the Americas, 37th Floor
	 	New York, NY 10036
	 	Attn: Thomas A. Rose, Esq.

 

unless the
address is changed by the party by like notice given to the other parties. Notice shall be in writing and shall be deemed delivered:
(i) if mailed by certified mail, return receipt requested, postage prepaid and properly addressed to the address below, then three
(3) business days after deposit of same in a regularly maintained U.S. Mail receptacle; or (ii) if mailed by Federal Express, UPS
or other nationally recognized overnight courier service, next business morning delivery, then one (1) business day after deposit
of same in a regularly maintained receptacle of such overnight courier; or (iii) if hand delivered or sent by email, then upon
hand delivery or receipt thereof to the address indicated on or prior to 5:00 p.m., EST, on a business day. Any notice hand delivered
after 5:00 p.m., EST, shall be deemed delivered on the following business day. Notwithstanding the foregoing, notice, consents,
waivers or other communications referred to in this Agreement may be sent by facsimile, e-mail, or other method of delivery, but
shall be deemed to have been delivered only when the sending party has confirmed (by reply e-mail or some other form of written
confirmation from the receiving party) that the notice has been received by the other party.

 

11.2   Entire
Agreement. This Agreement and the other Transaction Documents: (i) are valid, binding and enforceable against the Company and
Purchasers in accordance with its provisions and no conditions exist as to their legal effectiveness; (ii) constitute the entire
agreement between the parties; and (iii) are the final expression of the intentions of the Company and Purchasers. No promises,
either expressed or implied, exist between the Company and Purchasers, unless contained herein or in the Transaction Documents.
This Agreement and the Transaction Documents supersede all negotiations, representations, warranties, commitments, offers, contracts
(of any kind or nature, whether oral or written) prior to or contemporaneous with the execution hereof.

 

11.3   Amendments;
Waivers. No amendment, modification, termination, discharge or waiver of any provision of this Agreement or of the Transaction
Documents, or consent to any departure by the Company therefrom, shall in any event be effective unless the same shall be in writing
and signed by Purchasers, and then such waiver or consent shall be effective only for the specific purpose for which given.

 

    	 	21	 

     

    

 

11.4   WAIVER
OF JURY TRIAL. PURCHASERS AND THE COMPANY AFTER CONSULTING OR HAVING HAD THE OPPORTUNITY TO CONSULT WITH COUNSEL, EACH KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVES, IRREVOCABLY, THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING BASED HEREON,
OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, ANY TRANSACTION DOCUMENT OR ANY OF THE OBLIGATIONS HEREUNDER, OR
ANY OTHER AGREEMENT EXECUTED OR CONTEMPLATED TO BE EXECUTED IN CONJUNCTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT OR COURSE
OF DEALING IN WHICH PURCHASERS AND THE COMPANY AND/OR THE GUARNATORS ARE ADVERSE PARTIES. THIS PROVISION IS A MATERIAL INDUCEMENT
FOR PURCHASERS PURCHASING THE UNITS.

 

11.5   Assignability.
Purchasers may at any time assign Purchaser’s rights in this Agreement, any Securities or any Transaction Document, or any
part thereof. The Company may not sell or assign this Agreement, any Transaction Document or any other agreement with Purchasers,
or any portion thereof, either voluntarily or by operation of law, nor delegate any of its duties of obligations hereunder or thereunder,
without the prior written consent of Purchasers, which consent may be withheld or conditioned in Purchasers’ sole and absolute
discretion. This Agreement shall be binding upon Purchasers and the Company and their respective legal representatives, successors
and permitted assigns. All references herein to a Company shall be deemed to include any successors, whether immediate or remote.

 

11.6   Publicity.
Purchasers shall have the right to approve, before issuance, any press release or any other public statement with respect to the
transactions contemplated hereby made by the Company; provided, however, that the Company shall be entitled, without the prior
approval of Purchasers, to issue any press release or other public disclosure with respect to such transactions required under
applicable securities or other laws or regulations. Notwithstanding the foregoing, the Company shall use its best efforts to consult
Purchasers in connection with any such press release or other public disclosure prior to its release and Purchasers shall be provided
with a copy thereof upon release thereof. Purchasers shall have the right to make any press release with respect to the transactions
contemplated hereby without Company’s approval. In addition, with respect to any press release to be made by Purchasers,
the Company hereby authorizes and grants blanket permission to Purchasers to include the Company’s stock symbol, if any,
in any press releases. The Company shall, promptly upon request, execute any additional documents of authority or permission as
may be requested by Purchasers in connection with any such press releases.

 

11.7   Binding
Effect. This Agreement shall become effective upon execution by the Company and Purchasers.

 

11.8   Governing
Law. This Agreement shall be governed by and be construed in accordance with the laws of the State of New York without regard
to the conflicts of law rules of such state. The parties hereby irrevocably and unconditionally submit, for themselves and their
property, to the jurisdiction of the courts sitting in New York, New York (Manhattan) and any appellate court from any thereof,
in respect of actions brought against it in any action, suit or proceeding arising out of or relating to this Agreement, or for
recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all
claims in respect of any such action, suit or proceeding may be heard and determined in such courts. Each of the parties hereto
agrees that a final judgment in any such action, suit or proceeding shall be conclusive and may be enforced in other jurisdictions
by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue
of any action, suit or proceeding arising out of or relating to this Agreement in any court referred to above. Each of the parties
further hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance
of such action, suit proceeding in any such court and waives any other right to which it may be entitled on account of its place
of residence or domicile. To the fullest extent permitted by applicable law, the parties agree to bring all actions or proceedings
regarding this Agreement in the courts (Federal or State) of the State of New York located in the County of New York, City of New
York.

 

    	 	22	 

     

    

 

11.9   Enforceability.
Wherever possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement shall be prohibited by, unenforceable or invalid under any jurisdiction, such provision
shall as to such jurisdiction, be severable and be ineffective to the extent of such prohibition or invalidity, without invalidating
the remaining provisions of this Agreement or affecting the validity or enforceability of such provision in any other jurisdiction.

 

11.10   Survival
of Company’s Representations. All covenants, agreements, representations and warranties made by the Company herein shall,
notwithstanding any investigation by Purchasers, be deemed material and relied upon by Purchasers and shall survive the making
and execution of this Agreement and the Transaction Documents and the sale and purchase of the Preferred Stock, and shall be deemed
to be continuing representations and warranties until such time as the Company have fulfilled all of its Obligations to Purchasers
hereunder and under all other Transaction Documents, and Purchasers has been indefeasibly paid in full.

 

11.11   Time
of Essence. Time is of the essence in making payments of all amounts due Purchasers under this Agreement and the other Transaction
Documents and in the performance and observance by the Company of each covenant, agreement, provision and term of this Agreement
and the other Transaction Documents. The parties agree that in the event that any date on which performance is to occur falls on
a day other than a Business Day, then the time for such performance shall be extended until the next Business Day thereafter occurring.

 

11.12   Interpretation.
If any provision in this Agreement requires judicial or similar interpretation, the judicial or other such body interpreting or
construing such provision shall not apply the assumption that the terms hereof shall be more strictly construed against one party
because of the rule that an instrument must be construed more strictly against the party which itself or through its agents prepared
the same. The parties hereby agree that all parties and their agents have participated in the preparation hereof equally.

 

    	 	23	 

     

    

 

11.13   Compliance
with Federal Law. The Company shall: (i) ensure that no Person who owns a controlling interest in or otherwise controls the
Company is or shall be listed on the Specially Designated Nationals and Blocked Person List or other similar lists maintained by
the Office of Foreign Assets Control (“OFAC”), the Department of the Treasury, included in any Executive Orders
or any other similar lists from any Governmental Authority, foreign or national; (ii) not use or permit the use of the proceeds
of the Preferred Stock to violate any of the foreign asset control regulations of OFAC or any enabling statute or Executive Order
relating thereto, or any other similar national or foreign governmental regulations; and (iii) comply with all applicable Lender
Secrecy Act laws and regulations, as amended. As required by federal law and Purchasers’ policies and practices, Purchasers
may need to obtain, verify and record certain customer identification information and documentation in connection with opening
or maintaining accounts or establishing or continuing to provide services.

 

11.14   Gender
and Use of Singular and Plural. All pronouns shall be deemed to refer to the masculine, feminine, neuter, singular or plural,
as the identity of the party or parties or their personal representatives, successors and assigns may require.

 

11.15   Execution.
This Agreement may be executed in one or more counterparts, all of which taken together shall be deemed and considered one and
the same Agreement, and same shall become effective when counterparts have been signed by each party and each party has delivered
its signed counterpart to the other party. In the event that any signature is delivered by facsimile transmission or by e-mail
delivery of a “.pdf’ format file or other similar format file, such signature shall be deemed an original for all purposes
and shall create a valid and binding obligation of the party executing same with the same force and effect as if such facsimile
or “.pdf’ signature page was an original thereof.

 

11.16   Headings.
The article and section headings contained in this Agreement are inserted for convenience only and shall not affect in any way
the meaning or interpretation of the Agreement.

 

11.17   Further
Assurances. The Company will execute and deliver such further instruments and do such further acts and things as may be reasonably
required by Purchasers to carry out the intent and purposes of this Agreement.

 

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

 

    	 	24	 

     

    

 

11.19   Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and
will resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any
time hereafter in force, in connection with any claim, action or proceeding that may be brought by Purchasers in order to enforce
any right or remedy under any Transaction Document. Notwithstanding any provision to the contrary contained in any Transaction
Document, it is expressly agreed and provided that the total liability of the Company under the Transaction Documents for payments
in the nature of interest shall not exceed the maximum lawful rate authorized under applicable law (the “Maximum Rate”),
and, without limiting the foregoing, in no event shall any rate of interest or default interest, or both of them, when aggregated
with any other sums in the nature of interest that the Company may be obligated to pay under the Transaction Documents exceed such
Maximum Rate. It is agreed that if the maximum contract rate of interest allowed by law and applicable to the Transaction Documents
is increased or decreased by statute or any official governmental action subsequent to the date hereof, the new maximum contract
rate of interest allowed by law will be the Maximum Rate applicable to the Transaction Documents from the effective date thereof
forward, unless such application is precluded by applicable law. If under any circumstances whatsoever, interest in excess of the
Maximum Rate is paid by the Company to the Purchasers with respect to indebtedness evidenced by the Transaction Documents, such
excess shall be applied by the Purchasers to the unpaid principal balance of any such indebtedness or be refunded to the Company,
the manner of handling such excess to be at the Purchasers’ election.

 

11.21   Fees
and Expenses. At the Closing, the Company shall reimburse Purchasers or their counsel for attorney’s fees and expenses
for the transactions contemplated by this Agreement, in an amount of $25,000. The Company shall also be directly responsible for
the payment of fees or commissions payable to the placement agent for the offering, Garden State Securities, Inc., in the amount
of 8% of the aggregate cash invested by the Purchasers and Warrants to purchase 8% of the shares of Common Stock issuable upon
conversion of shares of Preferred Stock sold in this Offering, upon the same terms and conditions as the Purchasers.

 

[signature pages follow]

 

    	 	25	 

     

    

IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be executed as of the date and year set forth above.

 

COMPANY:

 

MERIDIAN WASTE SOLUTIONS, INC.

 

	By: 		 

Name: Jeffrey Cosman

Title: Chief Executive Officer

 

INVESTOR:

 

		 

Name:

 

		 

 

    	 	26	 

     

    

 

	PURCHASER

                                                                                 
	 
	
        Name of Purchaser

         

        ____________________________________

         

        Address:

        _________________________________________

         

        _________________________________________

         

        Fax No.: ________________________________

         

        Taxpayer ID# (if applicable): ________________

         

        _________________________________________

         

        Dated: _____________, 2017

         

        Aggregate Purchase Price: ________________

         
	 

 

 

 

 

 

 

 

[Purchaser Signature Page to Meridian
Waste Solutions, Inc. Securities Purchase Agreement]

 

    	 	27	 

     

    

 

SCHEDULE 1

 

PURCHASE PRICE; SECURITIES PURCHASED

 

	
         

        Name of

        Purchaser

         
	
        Purchase Price

        for Units

        Being Purchased

         
	
        Aggregate Number of

        Units being Purchased

         

	 	 	 

                                                                                 

                                                                                 

 

 

    	 	28	 

     

    

 

EXHIBIT A

 

FORM OF PREFERRED STOCK DESIGNATION

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	29	 

     

    

 

EXHIBIT B

 

FORM OF WARRANT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	30	 

     

    

 

EXHIBIT C

 

FORM OF REGISTRATION RIGHTS AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	31	 

     

    

 

EXHIBIT D

 

COMPANY DISCLOSURE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	32	 

     

    

 

EXHIBIT E

 

VOTING AGREEMENT

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

33Exhibit
10.2

 

REGISTRATION
RIGHTS AGREEMENT

 

This
REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of October__, 2017, is by and among Meridian
Waste Solutions, Inc., a New York corporation (the “Company”), and each of the undersigned buyers (each,
a “Buyer,” and collectively, the “Buyers”).

 

RECITALS

 

A.  In
connection with the Securities Purchase Agreement by and among the parties hereto, dated as of the date hereof (the “Securities
Purchase Agreement”), the Company has agreed, upon the terms and subject to the conditions of the Securities Purchase
Agreement, to issue and sell to each Buyer units consisting of (i) shares of Preferred Stock (as defined in the Securities Purchase
Agreement), (ii) Warrants (as defined in the Securities Purchase Agreement) to purchase Common Stock, (iii) shares of Common Stock
issuable upon the conversion of the Preferred Stock (“Preferred Shares”) and exercise of the Warrants (“Warrant
Shares”), and (iv) additional shares of Common Stock.

 

B.  To
induce the Buyers to consummate the transactions contemplated by the Securities Purchase Agreement, the Company has agreed to
provide certain registration rights under the Securities Act of 1933, as amended, and the rules and regulations thereunder, or
any similar successor statute (collectively, the “1933 Act”), and applicable state securities laws.

 

AGREEMENT

 

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

 

1.
Definitions.

 

Capitalized
terms used herein and not otherwise defined herein shall have the respective meanings set forth in the Securities Purchase Agreement.
As used in this Agreement, the following terms shall have the following meanings:

 

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

 

(b)  
“Closing Date” shall have the meaning set forth in the Securities Purchase Agreement.

 

(c)  
“Company Counsel” means Lucosky Brookman LLP.

 

(d)  
“Effective Date” means the date that the applicable Registration Statement has been declared effective by the
SEC.

 

    

     

    

 

(e)  
“Effectiveness Deadline” means (i) with respect to the initial Registration Statement required to be filed
pursuant to Section 2(a), the earlier of the (A) 90th calendar day after the Filing Deadline (or the 120th
calendar day after the Filing Deadline in the event that such Registration Statement is subject to Full Review by the SEC), and
(B) the fifth day after the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that such Registration
Statement will not be reviewed or will not be subject to further review, and (ii) with respect to any additional Registration
Statements that may be required to be filed by the Company pursuant to this Agreement, the earlier of the (A) 90th calendar day
following the date on which the Company was required to file such additional Registration Statement and (B) the fifth day after
the date the Company is notified (orally or in writing, whichever is earlier) by the SEC that such Registration Statement will
not be reviewed or will not be subject to further review.

 

(f)  
“Filing Deadline” means (i) with respect to the initial Registration Statement required to be filed pursuant
to Section 2(a), the 10th calendar day after the effective date of a registration statement registering the resale
of all shares of Common Stock issued or issuable pursuant to the Company Series D Preferred Stock financing, and (ii) with respect
to any additional Registration Statements that may be required to be filed by the Company pursuant to this Agreement, the date
on which the Company was required to file such additional Registration Statement pursuant to the terms of this Agreement.

 

(g)  
“Full Review” in respect of any Registration Statement shall mean an instance where the staff of the SEC does
not inform the Company either that the Registration Statement will not be reviewed or that such review will be on a limited, monitor
or expedited (or other similar) basis.

 

(h)  
“Investor” means a Buyer or any transferee or assignee of any Registrable Securities, Preferred Stock or Warrants,
as applicable, to whom a Buyer assigns its rights under this Agreement and who agrees to become bound by the provisions of this
Agreement in accordance with Section 9 and any transferee or assignee thereof to whom a transferee or assignee of any Registrable
Securities or Warrants, as applicable, assigns its rights under this Agreement and who agrees to become bound by the provisions
of this Agreement in accordance with Section 9.

 

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

 

(j)  
“register,” “registered,” and “registration” refer to a registration
effected by preparing and filing one or more Registration Statements in compliance with the 1933 Act and pursuant to Rule 415
and the declaration of effectiveness of such Registration Statement(s) by the SEC.

 

    	 	2	 

     

    

 

(k)  
“Registrable Securities” means (i) the Warrant Shares, (ii) the additional shares of Common Stock, (iii) the
Preferred Shares, and (iv) any capital stock of the Company issued or issuable with respect to the Preferred Stock, the Warrant,
or any other shares of Common Stock issuable pursuant to the Transaction Documents, including without limitation, (1) as a result
of any stock split, stock dividend, recapitalization, exchange or similar event or otherwise and (2) shares of capital stock of
the Company into which the shares of Common Stock (as defined in the Securities Purchase Agreement) are converted or exchanged
and shares of capital stock of a Successor Entity (as defined in the Warrants) into which the shares of Common Stock are converted
or exchanged, in each case, without regard to any limitations on exercise of the Warrants and the Certificate of Designation with
respect to the Preferred Stock provided, however, that Registrable Securities shall not include any securities of
the Company that have previously been registered and remain subject to a currently effective registration statement or which have
been sold to the public either pursuant to a registration statement or Rule 144, or which have been sold in a private transaction
in which the transferor’s rights under this Section 1 are not assigned, or which may be sold immediately without registration
under the Securities Act and without volume restrictions pursuant to Rule 144.

 

(l)  
“Registration Statement” means a registration statement or registration statements of the Company filed under
the 1933 Act covering Registrable Securities.

 

(m)  
“Required Holders” means the holders of at least a majority of the Registrable Securities.

 

(n)  
“Required Registration Amount” means the Registrable Securities required to be registered hereunder.

 

(o)  
“Response Deadline” means the date which is ten (10) calendar days after receipt of a letter of comment or
telephonic comments from the SEC.

 

(p)  
“Rule 144” means Rule 144 promulgated by the SEC under the 1933 Act, as such rule may be amended from time
to time, or any other similar or successor rule or regulation of the SEC that may at any time permit the Investors to sell securities
of the Company to the public without registration.

 

(q)  
“Rule 415” means Rule 415 promulgated by the SEC under the 1933 Act, as such rule may be amended from time
to time, or any other similar or successor rule or regulation of the SEC providing for offering securities on a continuous or
delayed basis.

 

(r)  
“SEC” means the United States Securities and Exchange Commission or any successor thereto.

 

2.
Registration.

 

(a)  
Mandatory Registration. The Company shall prepare and, as soon as practicable, but in no event later than the Filing Deadline,
file with the SEC an initial Registration Statement on Form S-3 covering the resale of all of the Registrable Securities, or the
largest amount thereof permissible; provided that such initial Registration Statement shall register for resale at least the number
of shares of Common Stock equal to the Required Registration Amount as of the date such Registration Statement is initially filed
with the SEC. Such initial Registration Statement, and each other Registration Statement required to be filed pursuant to the
terms of this Agreement, shall contain (except if otherwise directed by the Required Holders) the “Selling Stockholders”
and “Plan of Distribution” sections in substantially the form attached hereto as Exhibit A. The
Company shall use its best efforts to have such initial Registration Statement, and each other Registration Statement required
to be filed pursuant to the terms of this Agreement, declared effective by the SEC as soon as practicable.

 

(b)  
[intentionally omitted]

 

(c)  
Sufficient Number of Shares Registered. In the event the number of shares available under any Registration Statement is
insufficient to cover all of the Registrable Securities required to be covered by such Registration Statement or an Investor’s
allocated portion of the Registrable Securities pursuant to Section 2(f), the Company shall amend such Registration Statement
(if permissible), or file with the SEC a new Registration Statement (on the short form available therefor, if applicable), or
both, so as to cover at least the Required Registration Amount as of the Trading Day immediately preceding the date of the filing
of such amendment or new Registration Statement, in each case, as soon as practicable, but in any event not later than fifteen
(15) days after the necessity therefor arises (but taking account of any Staff position with respect to the date on which the
Staff will permit such amendment to the Registration Statement and/or such new Registration Statement (as the case may be) to
be filed with the SEC). The Company shall use its best efforts to cause such amendment to such Registration Statement and/or such
new Registration Statement (as the case may be) to become effective as soon as practicable following the filing thereof with the
SEC. For purposes of the foregoing provision, the number of shares available under a Registration Statement shall be deemed “insufficient
to cover all of the Registrable Securities” if at any time the number of shares of Common Stock available for resale is
insufficient.

 

    	 	3	 

     

    

 

(d)  
Effect of Failure to File, Respond to and Maintain Effectiveness of any Registration Statement. If (i) a Registration Statement
covering the resale of all of the Registrable Securities required to be covered thereby (disregarding any reduction pursuant to
Section 2(e)) and required to be filed by the Company pursuant to this Agreement is (A) not filed with the SEC on or before the
Filing Deadline for such Registration Statement (a “Filing Failure”), (B) SEC comments are not responded to
by the Response Deadline (“Response Failure”), or (C) not declared effective by the SEC on or before the Effectiveness
Deadline for such Registration Statement (an “Effectiveness Failure”) (it being understood that if on the Business
Day immediately following the Effective Date for such Registration Statement the Company shall not have filed a “final”
prospectus for such Registration Statement with the SEC under Rule 424(b) in accordance with Section 3(b) (whether or not such
a prospectus is technically required by such rule), the Company shall be deemed to not have satisfied this clause (i)(C) and such
event shall be deemed to be an Effectiveness Failure), (ii) other than during an Allowable Grace Period (as defined below), on
any day after the Effective Date of a Registration Statement, sales of all of the Registrable Securities required to be included
on such Registration Statement (disregarding any reduction pursuant to Section 2(e)) cannot be made pursuant to such Registration
Statement (including, without limitation, because of a failure to keep such Registration Statement effective, a failure to disclose
such information as is necessary for sales to be made pursuant to such Registration Statement, on or after the Closing Date a
suspension or delisting of (or a failure to timely list) the Common Stock on an Eligible Market (as defined in the Securities
Purchase Agreement), or a failure to register a sufficient number of shares of Common Stock or by reason of a stop order) or the
prospectus contained therein is not available for use for any reason (a “Maintenance Failure”), or (iii) at
any time when a Registration Statement is not effective for any reason or the prospectus contained therein is not available for
use for any reason, the Company fails to file with the SEC any required reports under Section 13 or 15(d) of the 1934 Act such
that it is not in compliance with Rule 144(c)(1) (or Rule 144(i)(2), if applicable) (a “Current Public Information Failure”)
as a result of which any of the Investors are unable to sell Registrable Securities without restriction under Rule 144 (including,
without limitation, volume restrictions), then, as partial relief for the damages to any holder by reason of any such delay in,
or reduction of, its ability to sell the underlying shares of Common Stock (which remedy shall not be exclusive of any other remedies
available at law or in equity), the Company shall pay to each holder of Registrable Securities relating to such Registration Statement
an amount in cash equal to one percent (1%) of such Investor’s Purchase Price on the Closing Date (1) on the date of such
Filing Failure, Response Failure, Effectiveness Failure, Maintenance Failure, Response Failure or Current Public Information Failure,
as applicable, and (2) on every thirty (30) day anniversary or portion thereof of (I) a Filing Failure until such Filing Failure
is cured; (II) an Effectiveness Failure until such Effectiveness Failure is cured; (III) a Maintenance Failure until such Maintenance
Failure is cured; (IV) a Response Failure until a response is properly filed with the SEC; and (V) a Current Public Information
Failure until the earlier of (i) the date such Current Public Information Failure is cured and (ii) such time that such public
information is no longer required pursuant to Rule 144 (in each case, pro rated for periods totaling less than thirty (30) days).
The payments to which a holder of Registrable Securities shall be entitled pursuant to this Section 2(e) are referred to herein
as “Registration Delay Payments.” Following the initial Registration Delay Payment for any particular event
or failure (which shall be paid on the date of such event or failure, as set forth above), without limiting the foregoing, if
an event or failure giving rise to the Registration Delay Payments is cured prior to any thirty (30) day anniversary of such event
or failure, then such Registration Delay Payment shall be made on the third (3rd) Business Day after such cure. Notwithstanding
the foregoing, no Registration Delay Payments shall be owed to an Investor (other than with respect to a Maintenance Failure resulting
from a suspension of listing or quotation or delisting of (or a failure to timely list or quote) the Common Stock on the Principal
Market) with respect to any period during which all of such Investor’s Registrable Securities may be sold by such Investor
without restriction under Rule 144 (including, without limitation, volume restrictions) and without the need for current public
information required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable). Notwithstanding the foregoing, the Company shall not
be obligated to pay any such liquidated damages pursuant to this Section 2(d) if the Company is unable to fulfill its registration
obligations as a result of rules, regulations, positions or releases issued or actions taken by the Commission pursuant to its
authority with respect to “Rule 415”, and the Company registers at such time the maximum number of shares of Common
Stock permissible upon consultation with the staff of the SEC (the “Staff”) or as contemplated pursuant to
Section 2(e) below. The maximum penalties payable hereunder shall not exceed 6% of the Purchase Price. Penalties shall cease to
accrue at such time as the Registrable Securities may be sold under Rule 144 and the Company uses commercially reasonable efforts
to provide appropriate legal opinions.

 

    	 	4	 

     

    

 

(e)  
Offering. Notwithstanding anything to the contrary contained in this Agreement, in the event the Staff or the SEC seeks
to characterize any offering pursuant to a Registration Statement filed pursuant to this Agreement as constituting an offering
of securities by, or on behalf of, the Company, or in any other manner, such that the Staff or the SEC do not permit
such Registration Statement to become effective and used for resales in a manner that does not constitute such an offering and
that permits the continuous resale at the market by the Investors participating therein (or as otherwise may be acceptable
to each Investor) without being named therein as an “underwriter,” then the Company shall reduce the number of shares
to be included in such Registration Statement by all Investors until such time as the Staff and the SEC shall so permit such
Registration Statement to become effective as aforesaid. In making such reduction, the Company shall reduce the number of
shares to be included by all Investors on a pro rata basis (based upon the number of Registrable Securities otherwise required
to be included for each Investor) unless the inclusion of shares by a particular Investor or a particular set of Investors are
resulting in the Staff or the SEC’s “by or on behalf of the Company” offering position, in which event
the shares held by such Investor or set of Investors shall be the only shares subject to reduction (and if by a set of Investors
on a pro rata basis by such Investors or on such other basis as would result in the exclusion of the least number of shares by
all such Investors).  In addition, in the event that the Staff or the SEC requires any Investor seeking to sell securities
under a Registration Statement filed pursuant to this Agreement to be specifically identified as an “underwriter” in
order to permit such Registration Statement to become effective, and such Investor does not consent to being so named as an underwriter
in such Registration Statement, then, in each such case, the Company shall reduce the total number of Registrable Securities
to be registered on behalf of such Investor, until such time as the Staff or the SEC does not require such identification
or until such Investor accepts such identification and the manner thereof. Any reduction pursuant to this paragraph will first
reduce all securities that are not Registrable Securities (including securities included in such Registration Statement pursuant
to a Permitted Registration (as defined in the Securities Purchase Agreement)), if any such securities are permitted by the Required
Holders to be included in accordance with the terms of this Agreement. In the event of any reduction in Registrable
Securities pursuant to this paragraph, an affected Investor shall have the right to require, upon delivery of a written request
to the Company signed by such Investor, the Company to file a registration statement within thirty (30) calendar days of such
request (subject to any restrictions imposed by Rule 415 or required by the Staff or the SEC) for resale by such Investor
in a manner acceptable to such Investor, and the Company shall following such request cause to be and keep effective such
registration statement in the same manner as otherwise contemplated in this Agreement for registration statements hereunder,
in each case, until such time as: (i) all Registrable Securities held by such Investor have been registered and sold pursuant
to an effective Registration Statement in a manner acceptable to such Investor or (ii) all Registrable Securities may be
resold by such Investor without restriction (including, without limitation, volume limitations) pursuant to Rule 144 (taking
account of any Staff position with respect to “affiliate” status) and without the need for current public information
required by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (iii) such Investor agrees to be named as an underwriter in any
such Registration Statement in a manner acceptable to such Investor as to all Registrable Securities held by such Investor and
that have not theretofore been included in a Registration Statement under this Agreement (it being understood that the special
demand right under this sentence may be exercised by an Investor multiple times and with respect to limited amounts of Registrable
Securities in order to permit the resale thereof by such Investor as contemplated above). Any reduction made to securities included
in a Registration Statement in accordance with this Section 2(e) shall not constitute a Filing Failure, Effectiveness Failure
or a Maintenance Failure and shall not be subject to the payment requirements under Section 2(d).

 

    	 	5	 

     

    

 

(f)  
Allocation of Registrable Securities. The initial number of Registrable Securities included in any Registration Statement
and any increase in the number of Registrable Securities included therein shall be allocated pro rata among the Investors based
on the number of Registrable Securities held by each Investor at the time such Registration Statement covering such initial number
of Registrable Securities or increase thereof is declared effective by the SEC. In the event that an Investor sells or otherwise
transfers any of such Investor’s Registrable Securities, each transferee or assignee (as the case may be) that becomes an
Investor shall be allocated a pro rata portion of the then-remaining number of Registrable Securities included in such Registration
Statement for such transferor or assignee (as the case may be). Any shares of Common Stock included in a Registration Statement
and which remain allocated to any Person which ceases to hold any Registrable Securities covered by such Registration Statement
shall be allocated to the remaining Investors, pro rata based on the number of Registrable Securities then held by such Investors
which are covered by such Registration Statement.

 

(g)  
Inclusion of Other Securities. Other than as set forth in this Agreement or in the Securities Purchase Agreement, in no
event shall the Company include any securities other than Registrable Securities on any Registration Statement without the prior
written consent of the Required Holders. Until the Expiration Date (as defined in the Securities Purchase Agreement), the Company
shall not enter into any agreement providing any registration rights to any of its security holders that have any priority to
any of the Investor’s rights contained in this Agreement or adversely affect any Investor’s rights under this Agreement.

 

3.  
Related Obligations.

 

The
Company shall use its best efforts to effect the registration of the Registrable Securities in accordance with the intended method
of disposition thereof, and, pursuant thereto, the Company shall have the following obligations:

 

(a)  
The Company shall prepare and file with the SEC a Registration Statement with respect to all the Registrable Securities (but in
no event later than the applicable Filing Deadline) and use its best efforts to cause such Registration Statement to become effective
as soon as practicable after such filing (but in no event later than the Effectiveness Deadline). Subject to Allowable Grace Periods,
the Company shall keep each Registration Statement effective (and the prospectus contained therein available for use) pursuant
to Rule 415 for resales by the Investors on a delayed or continuous basis at then-prevailing market prices (and not fixed prices)
at all times until the earlier of (i) the date as of which all of the Investors may sell all of the Registrable Securities required
to be covered by such Registration Statement (disregarding any reduction pursuant to Section 2(e)) without restriction pursuant
to Rule 144 (including, without limitation, volume restrictions) and without the need for current public information required
by Rule 144(c)(1) (or Rule 144(i)(2), if applicable) or (ii) the date on which the Investors shall have sold all of the Registrable
Securities covered by such Registration Statement (the “Registration Period”). Notwithstanding anything to
the contrary contained in this Agreement, the Company shall ensure that, when filed and at all times while effective, each Registration
Statement (including, without limitation, all amendments and supplements thereto) and the prospectus (including, without limitation,
all amendments and supplements thereto) used in connection with such Registration Statement (1) shall not contain any untrue statement
of a material fact or omit to state a material fact required to be stated therein, or necessary to make the statements therein
(in the case of prospectuses, in the light of the circumstances in which they were made) not misleading and (2) will disclose
(whether directly or through incorporation by reference to other SEC filings to the extent permitted) all material information
regarding the Company and its securities.

 

    	 	6	 

     

    

 

(b)  
Subject to Section 3(r) of this Agreement, the Company shall prepare and file with the SEC such amendments (including, without
limitation, post-effective amendments) and supplements to each Registration Statement and the prospectus used in connection with
each such Registration Statement, which prospectus is to be filed pursuant to Rule 424 promulgated under the 1933 Act, as may
be necessary to keep each such Registration Statement effective at all times during the Registration Period for such Registration
Statement, and, during such period, comply with the provisions of the 1933 Act with respect to the disposition of all Registrable
Securities of the Company required to be covered by such Registration Statement until such time as all of such Registrable Securities
shall have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof as set forth
in such Registration Statement; provided, however, by 9:30 a.m. (New York time) no later than the second Business Day immediately
following each Effective Date, the Company shall file with the SEC in accordance with Rule 424(b) under the 1933 Act the final
prospectus to be used in connection with sales pursuant to the applicable Registration Statement (whether or not such a prospectus
is technically required by such rule). In the case of amendments and supplements to any Registration Statement which are required
to be filed pursuant to this Agreement (including, without limitation, pursuant to this Section 3(b)) by reason of the Company
filing a report on Form 10-K, Form 10-Q, Form 8-K or any analogous report under the Securities Exchange Act of 1934, as amended
(the “1934 Act”), the Company shall have incorporated such report by reference into such Registration Statement,
if applicable, or shall file such amendments or supplements with the SEC on the same day on which the 1934 Act report is filed
which created the requirement for the Company to amend or supplement such Registration Statement.

 

(c)  
The Company shall (A) permit the Required Holders to review and provide comments to the Company and Company Counsel, with respect
to (i) each Registration Statement at least two (2) Business Days prior to its filing with the SEC and (ii) all amendments and
supplements to each Registration Statement (including, without limitation, the prospectus contained therein) (except for Reports
on Form 10-K, Form 10-Q, Form 8-K, and any similar or successor reports) within a reasonable number of days prior to their filing
with the SEC, and (B) not file any Registration Statement or amendment or supplement thereto in a form to which the Required Holders
reasonably objects.

 

(d)  
The Company shall promptly furnish to each Investor whose Registrable Securities are included in any Registration Statement, without
charge, (i) after the same is prepared and filed with the SEC, at least one (1) copy of each Registration Statement and any amendment(s)
and supplement(s) thereto, including, without limitation, financial statements and schedules, all documents incorporated therein
by reference, if requested by an Investor, all exhibits and each preliminary prospectus (unless such Registration Statement is
available on EDGAR), (ii) upon the effectiveness of each Registration Statement, ten (10) copies of the prospectus included in
such Registration Statement and all amendments and supplements thereto (unless such Registration Statement is available on EDGAR)
and (iii) such other documents, including, without limitation, copies of any preliminary or final prospectus, as such Investor
may reasonably request from time to time (unless such document is available on EDGAR) in order to facilitate the disposition of
the Registrable Securities owned by such Investor.

 

    	 	7	 

     

    

 

(e)  
The Company shall use its reasonable best efforts to (i) register and qualify, unless an exemption from registration and qualification
applies, the resale by Investors of the Registrable Securities covered by a Registration Statement under such other securities
or “blue sky” laws of all applicable jurisdictions in the United States, (ii) prepare and file in those jurisdictions,
such amendments (including, without limitation, post-effective amendments) and supplements to such registrations and qualifications
as may be necessary to maintain the effectiveness thereof during the Registration Period, (iii) take such other actions as may
be necessary to maintain such registrations and qualifications in effect at all times during the Registration Period, and (iv)
take all other actions reasonably necessary or advisable to qualify the Registrable Securities for sale in such jurisdictions;
provided, however, the Company shall not be required in connection therewith or as a condition thereto to (x) qualify to do business
in any jurisdiction where it would not otherwise be required to qualify but for this Section 3(e), (y) subject itself to general
taxation in any such jurisdiction, or (z) file a general consent to service of process in any such jurisdiction. The Company shall
promptly notify each Investor who holds Registrable Securities of the receipt by the Company of any notification with respect
to the suspension of the registration or qualification of any of the Registrable Securities for sale under the securities or “blue
sky” laws of any jurisdiction in the United States or its receipt of actual notice of the initiation or threatening of any
proceeding for such purpose.

 

(f)  
The Company shall either notify each Investor in writing or file a current Report on Form 8-K with the SEC providing disclosure
of the happening of any event, as promptly as practicable after becoming aware of such event, as a result of which the prospectus
included in a Registration Statement, as then in effect, includes an untrue statement of a material fact or omission to state
a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading (provided that in no event shall such notice contain any material, non-public information
regarding the Company or any of its Subsidiaries), and, subject to Section 3(r), promptly prepare a supplement or amendment to
such Registration Statement and such prospectus contained therein to correct such untrue statement or omission and deliver ten
(10) copies of such supplement or amendment to each Investor (or such other number of copies as such Investor may reasonably request)
(unless such supplements or amendments are available on EDGAR). The Company shall also promptly notify each Investor in writing
(i) when a prospectus or any prospectus supplement or post-effective amendment has been filed, when a Registration Statement or
any post-effective amendment has become effective (notification of such effectiveness shall be delivered to each Investor by facsimile
or e-mail on the same day of such effectiveness and by overnight mail), and when the Company receives written notice from the
SEC that a Registration Statement or any post-effective amendment will be reviewed by the SEC, (ii) of any request by the SEC
for amendments or supplements to a Registration Statement or related prospectus or related information, (iii) of the Company’s
reasonable determination that a post-effective amendment to a Registration Statement would be appropriate; and (iv) of the receipt
of any request by the SEC or any other federal or state governmental authority for any additional information relating to the
Registration Statement or any amendment or supplement thereto or any related prospectus. The Company shall respond as promptly
as practicable to any comments received from the SEC with respect to each Registration Statement or any amendment thereto (it
being understood and agreed that the Company’s response to any such comments shall be delivered to the SEC no later than
ten (10) Business Days after the receipt thereof).

 

    	 	8	 

     

    

 

(g)  
The Company shall (i) use its reasonable best efforts to prevent the issuance of any stop order or other suspension of effectiveness
of each Registration Statement or the use of any prospectus contained therein, or the suspension of the qualification, or the
loss of an exemption from qualification, of any of the Registrable Securities for sale in any jurisdiction and, if such an order
or suspension is issued, to obtain the withdrawal of such order or suspension at the earliest possible moment and (ii) notify
each Investor who holds Registrable Securities of the issuance of such order and the resolution thereof or its receipt of actual
notice of the initiation or threat of any proceeding for such purpose.

 

(h)  
[RESERVED]

 

(i)  
If any Investor may be required under applicable securities law to be described in any Registration Statement as an underwriter
and such Investor consents to so being named an underwriter, upon the written request of such Investor, the Company shall make
available for inspection by (i) such Investor, (ii) legal counsel for such Investor and (iii) one (1) firm of accountants or other
agents retained by such Investor (collectively, the “Inspectors”), all pertinent financial and other records,
and pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be
reasonably deemed necessary by each Inspector, and cause the Company’s officers, directors and employees to supply all information
which any Inspector may reasonably request; provided, however, each Inspector shall agree in writing to hold in strict confidence
and not to make any disclosure (except to such Investor) or use of any Record or other information which the Company’s board
of directors determines in good faith to be confidential, and of which determination the Inspectors are so notified, unless (1)
the disclosure of such Records is necessary to avoid or correct a misstatement or omission in any Registration Statement or is
otherwise required under the 1933 Act, (2) the release of such Records is ordered pursuant to a final, non-appealable subpoena
or order from a court or government body of competent jurisdiction, or (3) the information in such Records has been made generally
available to the public other than by disclosure in violation of this Agreement or any other Transaction Document (as defined
in the Securities Purchase Agreement). Such Investor agrees that it shall, upon learning that disclosure of such Records is sought
in or by a court or governmental body of competent jurisdiction or through other means, give prompt notice to the Company and
allow the Company, at its expense, to undertake appropriate action to prevent disclosure of, or to obtain a protective order for,
the Records deemed confidential. Nothing herein (or in any other confidentiality agreement between the Company and such Investor,
if any) shall be deemed to limit any Investor’s ability to sell Registrable Securities in a manner which is otherwise consistent
with applicable laws and regulations.

 

(j)  
The Company shall hold in confidence and not make any disclosure of information concerning an Investor provided to the Company
unless (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of
such information is necessary to avoid or correct a misstatement or omission in any Registration Statement or is otherwise required
to be disclosed in such Registration Statement pursuant to the 1933 Act, (iii) the release of such information is ordered pursuant
to a subpoena or other final, non-appealable order from a court or governmental body of competent jurisdiction, or (iv) such information
has been made generally available to the public other than by disclosure in violation of this Agreement or any other Transaction
Document. The Company agrees that it shall, upon learning that disclosure of such information concerning an Investor is sought
in or by a court or governmental body of competent jurisdiction or through other means, give prompt written notice to such Investor
and allow such Investor, at such Investor’s expense, to undertake appropriate action to prevent disclosure of, or to obtain
a protective order for, such information.

 

    	 	9	 

     

    

 

(k)  
Without limiting any obligation of the Company under the Securities Purchase Agreement, on and after the Closing Date, the Company
shall use its best efforts either to (i) cause all of the Registrable Securities covered by each Registration Statement to be
listed on each securities exchange on which securities of the same class or series issued by the Company are then listed, if any,
if the listing of such Registrable Securities is then permitted under the rules of such exchange, (ii) secure designation and
quotation of all of the Registrable Securities covered by each Registration Statement on the OTC Bulletin Board, or (iii) if,
despite the Company’s best efforts to satisfy the preceding clauses (i) or (ii) the Company is unsuccessful in satisfying
the preceding clauses (i) or (ii), without limiting the generality of the foregoing, to use its best efforts to arrange for at
least two market makers to register with the Financial Industry Regulatory Authority, Inc. (“FINRA”) as such
with respect to such Registrable Securities. In addition, the Company shall cooperate with each Investor and any broker or dealer
through which any such Investor proposes to sell its Registrable Securities in effecting a filing with FINRA pursuant to FINRA
Rule 5110 as requested by such Investor. The Company shall pay all fees and expenses in connection with satisfying its obligations
under this Section 3(k).

 

(l)  
To the extent that any registration statement filed pursuant to this Agreement has been declared effective by the SEC or restricted
legends have been removed pursuant to Section 5 of the Securities Purchase Agreement, then the Company shall cooperate with the
Investors who hold Registrable Securities being offered and, to the extent applicable, facilitate the timely preparation and delivery
of certificates (not bearing any restrictive legend) representing the Registrable Securities to be offered pursuant to a Registration
Statement and enable such certificates to be in such denominations or amounts (as the case may be) as the Investors may reasonably
request from time to time and registered in such names as the Investors may request, or, if requested by an Investor and the Common
Stock is traded through the facilities of the DTC (as defined below), credit such aggregate number of Registrable Securities to
be offered by such Investor to such Investor’s or its designee’s balance account with The Depository Trust Company
(“DTC”) through its Deposit/Withdrawal at Custodian system.

 

(m)  
If reasonably requested by an Investor, the Company shall as soon as practicable after receipt of notice from such Investor and
subject to Section 3(o) hereof, (i) incorporate in a prospectus supplement or post-effective amendment such information as an
Investor reasonably requests to be included therein, but only as to which information the Company Counsel agrees (which agreement
shall not be unreasonably withheld), relating to the sale and distribution of Registrable Securities, including, without limitation,
information with respect to the number of Registrable Securities being offered or sold, the purchase price being paid therefor
and any other terms of the offering of the Registrable Securities to be sold in such offering; (ii) make all required filings
of such prospectus supplement or post-effective amendment after being notified of the matters to be incorporated in such prospectus
supplement or post-effective amendment; and (iii) supplement or make amendments to any Registration Statement or prospectus contained
therein if reasonably requested by an Investor holding any Registrable Securities.

 

    	 	10	 

     

    

 

(n)  
The Company shall otherwise use its best efforts to comply with all applicable rules and regulations of the SEC in connection
with any registration hereunder.

 

(o)  
Notwithstanding anything to the contrary herein (but subject to the last sentence of this Section 3(r)), at any time after the
Effective Date of a particular Registration Statement, the Company may delay the disclosure of material, non-public information
concerning the Company or any of its Subsidiaries the disclosure of which at the time is not, in the good faith opinion of the
board of directors of the Company, in the best interest of the Company and, in the opinion of Company Counsel, otherwise required
(a “Grace Period”), provided that the Company shall promptly notify the Investors in writing of the (i) existence
of material, non-public information giving rise to a Grace Period (provided that in each such notice the Company shall not disclose
the content of such material, non-public information to any of the Investors) and the date on which such Grace Period will begin
and (ii) date on which such Grace Period ends, provided further that (I) no Grace Period shall exceed twenty (20) consecutive
days and during any three hundred sixty five (365) day period all such Grace Periods shall not exceed an aggregate of forty-five
(45) days, (II) the first day of any Grace Period must be at least five (5) Trading Days after the last day of any prior Grace
Period and (III) no Grace Period may exist during the thirty (30) Trading Day period immediately following the Effective Date
of such Registration Statement (provided that such thirty (30) Trading Day period shall be extended by the number of Trading Days
during such period and any extension thereof contemplated by this proviso during which such Registration Statement is not effective
or the prospectus contained therein is not available for use) (each, an “Allowable Grace Period”). For purposes
of determining the length of a Grace Period above, such Grace Period shall begin on and include the date the Investors receive
the notice referred to in clause (i) above and shall end on and include the later of the date the Investors receive the notice
referred to in clause (ii) above and the date referred to in such notice. The provisions of the first sentence of Section 3(f)
and the provisions of Section 3(g) hereof shall not be applicable during the period of any Allowable Grace Period. Upon expiration
of each Grace Period, the Company shall again be bound by the first sentence of Section 3(f) and the provisions of Section 3(g)
with respect to the information giving rise thereto unless such material, non-public information is no longer applicable. Notwithstanding
anything to the contrary contained in this Section 3(r), the Company shall cause its transfer agent to deliver unlegended shares
of Common Stock to a transferee of an Investor in accordance with the terms of the Securities Purchase Agreement in connection
with any sale of Registrable Securities with respect to which such Investor has entered into a contract for sale, and delivered
a copy of the prospectus included as part of the particular Registration Statement (unless an exemption from such prospectus delivery
requirement exists), prior to such Investor’s receipt of the notice of a Grace Period and for which the Investor has not
yet settled.

 

4.  Obligations
of the Investors.

 

(a)  
At least five (5) Business Days prior to the first anticipated filing date of each Registration Statement, the Company shall notify
each Investor in writing of the information the Company requires from each such Investor with respect to such Registration Statement.
It shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this Agreement with
respect to the Registrable Securities of a particular Investor that such Investor shall furnish to the Company such information
regarding itself, the Registrable Securities held by it and the intended method of disposition of the Registrable Securities held
by it, as shall be reasonably required to effect and maintain the effectiveness of the registration of such Registrable Securities
and shall execute such documents in connection with such registration as the Company may reasonably request.

 

    	 	11	 

     

    

 

(b)  
Each Investor, by such Investor’s acceptance of the Registrable Securities, agrees to cooperate with the Company as reasonably
requested by the Company in connection with the preparation and filing of each Registration Statement hereunder, unless such Investor
has notified the Company in writing of such Investor’s election to exclude all of such Investor’s Registrable Securities
from such Registration Statement.

 

(c)  
Each Investor agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 3(g) or the first sentence of 3(f), such Investor will immediately discontinue disposition of Registrable Securities pursuant
to any Registration Statement(s) covering such Registrable Securities until such Investor’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 3(g) or the first sentence of Section 3(f) or receipt of notice that
no supplement or amendment is required. Notwithstanding anything to the contrary in this Section 4(c), the Company shall cause
its transfer agent to deliver unlegended shares of Common Stock to a transferee of an Investor in accordance with the terms of
the Securities Purchase Agreement in connection with any sale of Registrable Securities with respect to which such Investor has
entered into a contract for sale prior to the Investor’s receipt of a notice from the Company of the happening of any event
of the kind described in Section 3(g) or the first sentence of Section 3(f) and for which such Investor has not yet settled.

 

(d)  Each
Investor covenants and agrees that it will comply with the prospectus delivery requirements of the 1933 Act as applicable to it
in connection with sales of Registrable Securities
pursuant to a Registration Statement.

 

5.  Expenses
of Registration.

 

All
reasonable expenses, other than underwriting discounts and commissions, incurred in connection with registrations, filings or
qualifications pursuant to Sections 2 and 3, including, without limitation, all registration, listing and qualifications fees,
printers and accounting fees, FINRA filing fees (if any), blue sky fees and fees and disbursements of counsel for the Company
shall be paid by the Company. The Company shall have no obligation to pay the expenses of any Investor incurred in connection
with any registration, filing or qualification pursuant to Sections 2 and 3 of this Agreement.

 

    	 	12	 

     

    

 

6.  Indemnification.

 

(a)  
To the fullest extent permitted by law, the Company will, and hereby does, indemnify, hold harmless and defend each Investor and
each of its directors, officers, shareholders, members, partners, employees, agents, advisors, representatives (and any other
Persons with a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other
title) and each Person, if any, who controls such Investor within the meaning of the 1933 Act or the 1934 Act and each of the
directors, officers, shareholders, members, partners, employees, agents, advisors, representatives (and any other Persons with
a functionally equivalent role of a Person holding such titles notwithstanding the lack of such title or any other title) of such
controlling Persons (each, an “Indemnified Person”), against any losses, obligations, claims, damages, liabilities,
contingencies, judgments, fines, penalties, charges, costs (including, without limitation, court costs, reasonable attorneys’
fees and costs of defense and investigation), amounts paid in settlement or expenses, joint or several, (collectively, “Claims”)
incurred in investigating, preparing or defending any action, claim, suit, inquiry, proceeding, investigation or appeal taken
from the foregoing by or before any court or governmental, administrative or other regulatory agency, body or the SEC, whether
pending or threatened, whether or not an indemnified party is or may be a party thereto (“Indemnified Damages”),
to which any of them may become subject insofar as such Claims (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon: (i) any untrue statement of a material fact in a Registration Statement or any
post-effective amendment thereto or in any filing made in connection with the qualification of the offering under the securities
or other “blue sky” laws of any jurisdiction in which Registrable Securities are offered (“Blue Sky Filing”),
or the omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading,
(ii) any untrue statement of a material fact contained in any preliminary prospectus if used prior to the effective date of such
Registration Statement, or contained in the final prospectus (as amended or supplemented, if the Company files any amendment thereof
or supplement thereto with the SEC) or the omission to state therein any material fact necessary to make the statements made therein,
in light of the circumstances under which the statements therein were made, not misleading or (iii) any violation by the Company
of the 1933 Act, the 1934 Act, any other law, including, without limitation, any state securities law, or any rule or regulation
thereunder relating to the offer or sale of the Registrable Securities pursuant to a Registration Statement (the matters in the
foregoing clauses (i) through (iii) being, collectively, “Violations”). Subject to Section 6(c), the Company
shall reimburse the Indemnified Persons, promptly as such expenses are incurred and are due and payable, for any legal fees or
other reasonable expenses incurred by them in connection with investigating or defending any such Claim. Notwithstanding anything
to the contrary contained herein, the indemnification agreement contained in this Section 6(a): (i) shall not apply to a Claim
by an Indemnified Person arising out of or based upon a Violation which occurs in reliance upon and in conformity with information
furnished in writing to the Company by such Indemnified Person for such Indemnified Person expressly for use in connection with
the preparation of such Registration Statement or any such amendment thereof or supplement thereto and (ii) shall not be available
to a particular Investor to the extent such Claim is based on a failure of such Investor to deliver or to cause to be delivered
the prospectus made available by the Company (to the extent applicable), including, without limitation, a corrected prospectus,
if such prospectus or corrected prospectus was timely made available by the Company pursuant to Section 3(d) and then only if,
and to the extent that, following the receipt of the corrected prospectus no grounds for such Claim would have existed; and (iii)
shall not apply to amounts paid in settlement of any Claim if such settlement is effected without the prior written consent of
the Company, which consent shall not be unreasonably withheld or delayed. Such indemnity shall remain in full force and effect
regardless of any investigation made by or on behalf of the Indemnified Person and shall survive the transfer of any of the Registrable
Securities by any of the Investors pursuant to Section 9.

 

    	 	13	 

     

    

 

(b)  
In connection with any Registration Statement in which an Investor is participating, such Investor agrees to severally and not
jointly indemnify, hold harmless and defend, to the same extent and in the same manner as is set forth in Section 6(a), the Company,
each of its directors, each of its officers who signs the Registration Statement and each Person, if any, who controls the Company
within the meaning of the 1933 Act or the 1934 Act (each, an “Indemnified Party”), against any Claim or Indemnified
Damages to which any of them may become subject, under the 1933 Act, the 1934 Act or otherwise, insofar as such Claim or Indemnified
Damages arise out of or are based upon any Violation, in each case, to the extent, and only to the extent, that such Violation
occurs in reliance upon and in conformity with written information furnished to the Company by such Investor expressly for use
in connection with such Registration Statement; and, subject to Section 6(c) and the below provisos in this Section 6(b), such
Investor will reimburse an Indemnified Party any legal or other expenses reasonably incurred by such Indemnified Party in connection
with investigating or defending any such Claim; provided, however, the indemnity agreement contained in this Section 6(b) and
the agreement with respect to contribution contained in Section 7 shall not apply to amounts paid in settlement of any Claim if
such settlement is effected without the prior written consent of such Investor, which consent shall not be unreasonably withheld
or delayed, provided further that such Investor shall be liable under this Section 6(b) for only that amount of a Claim or Indemnified
Damages as does not exceed the net proceeds to such Investor as a result of the applicable sale of Registrable Securities pursuant
to such Registration Statement. Such indemnity shall remain in full force and effect regardless of any investigation made by or
on behalf of such Indemnified Party and shall survive the transfer of any of the Registrable Securities by any of the Investors
pursuant to Section 9.

  

(c)  
Promptly after receipt by an Indemnified Person or Indemnified Party (as the case may be) under this Section 6 of notice of the
commencement of any action or proceeding (including, without limitation, any governmental action or proceeding) involving a Claim,
such Indemnified Person or Indemnified Party (as the case may be) shall, if a Claim in respect thereof is to be made against any
indemnifying party under this Section 6, deliver to the indemnifying party a written notice of the commencement thereof, and the
indemnifying party shall have the right to participate in, and, to the extent the indemnifying party so desires, jointly with
any other indemnifying party similarly noticed, to assume control of the defense thereof with counsel mutually satisfactory to
the indemnifying party and the Indemnified Person or the Indemnified Party (as the case may be); provided, however, an Indemnified
Person or Indemnified Party (as the case may be) shall have the right to retain its own counsel with the fees and expenses of
such counsel to be paid by the indemnifying party if: (i) the indemnifying party has agreed in writing to pay such fees and expenses;
(ii) the indemnifying party shall have failed promptly to assume the defense of such Claim and to employ counsel reasonably satisfactory
to such Indemnified Person or Indemnified Party (as the case may be) in any such Claim; or (iii) the named parties to any such
Claim (including, without limitation, any impleaded parties) include both such Indemnified Person or Indemnified Party (as the
case may be) and the indemnifying party, and such Indemnified Person or such Indemnified Party (as the case may be) shall have
been advised by counsel that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified
Person or such Indemnified Party and the indemnifying party (in which case, if such Indemnified Person or such Indemnified Party
(as the case may be) notifies the indemnifying party in writing that it elects to employ separate counsel at the expense of the
indemnifying party, then the indemnifying party shall not have the right to assume the defense thereof and such counsel shall
be at the expense of the Indemnifying Party, provided further that in the case of clause (iii) above the indemnifying party shall
not be responsible for the reasonable fees and expenses of more than one (1) separate legal counsel for such Indemnified Person
or Indemnified Party (as the case may be). The Indemnified Party or Indemnified Person (as the case may be) shall reasonably cooperate
with the indemnifying party in connection with any negotiation or defense of any such action or Claim by the indemnifying party
and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party or Indemnified Person
(as the case may be) which relates to such action or Claim. The indemnifying party shall keep the Indemnified Party or Indemnified
Person (as the case may be) reasonably apprised at all times as to the status of the defense or any settlement negotiations with
respect thereto. No indemnifying party shall be liable for any settlement of any action, claim or proceeding effected without
its prior written consent; provided, however, the indemnifying party shall not unreasonably withhold, delay or condition its consent.
No indemnifying party shall, without the prior written consent of the Indemnified Party or Indemnified Person (as the case may
be), consent to entry of any judgment or enter into any settlement or other compromise which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such Indemnified Party or Indemnified Person (as the case may be) of a
release from all liability in respect to such Claim or litigation, and such settlement shall not include any admission as to fault
on the part of the Indemnified Party. Following indemnification as provided for hereunder, the indemnifying party shall be subrogated
to all rights of the Indemnified Party or Indemnified Person (as the case may be) with respect to all third parties, firms or
corporations relating to the matter for which indemnification has been made. The failure to deliver written notice to the indemnifying
party within a reasonable time of the commencement of any such action shall not relieve such indemnifying party of any liability
to the Indemnified Person or Indemnified Party (as the case may be) under this Section 6, except to the extent that the indemnifying
party is materially and adversely prejudiced in its ability to defend such action.

 

    	 	14	 

     

    

 

(d)  
No Person involved in the sale of Registrable Securities who is guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the 1933 Act) in connection with such sale shall be entitled to indemnification from any Person involved in such
sale of Registrable Securities who is not guilty of fraudulent misrepresentation.

 

(e)  
The indemnification required by this Section 6 shall be made by periodic payments of the amount thereof during the course of the
investigation or defense, as and when bills are received or Indemnified Damages are incurred.

 

(f)  
The indemnity and contribution agreements contained herein shall be in addition to (i) any cause of action or similar right of
the Indemnified Party or Indemnified Person against the indemnifying party or others, and (ii) any liabilities the indemnifying
party may be subject to pursuant to the law.

 

7.  Contribution.

 

To
the extent any indemnification by an indemnifying party is prohibited or limited by law, the indemnifying party agrees to make
the maximum contribution with respect to any amounts for which it would otherwise be liable under Section 6 to the fullest extent
permitted by law; provided, however: (i) no contribution shall be made under circumstances where the maker would not have been
liable for indemnification under the fault standards set forth in Section 6 of this Agreement, (ii) no Person involved in the
sale of Registrable Securities which Person is guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the 1933 Act) in connection with such sale shall be entitled to contribution from any Person involved in such sale of Registrable
Securities who was not guilty of fraudulent misrepresentation; and (iii) contribution by any seller of Registrable Securities
shall be limited in amount to the amount of net proceeds received by such seller from the applicable sale of such Registrable
Securities pursuant to such Registration Statement. Notwithstanding the provisions of this Section 7, no Investor shall be required
to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Investor
from the applicable sale of the Registrable Securities subject to the Claim exceeds the amount of any damages that such Investor
has otherwise been required to pay, or would otherwise be required to pay under Section 6(b), by reason of such untrue statement
or omission. Notwithstanding the foregoing, the contribution agreement contained in this Section 7 shall not apply to amounts
paid in settlement of any Claim if such settlement is effected without the prior written consent of the Company, which consent
shall not be unreasonably withheld or delayed

 

    	 	15	 

     

    

 

8.  Reports
Under the 1934 Act.

 

With
a view to making available to the Investors the benefits of Rule 144, on and after the Closing Date, the Company agrees to:

 

(a)  
make and keep public information available, as those terms are understood and defined in Rule 144;

 

(b)  
file with the SEC in a timely manner all reports and other documents required of the Company under the 1933 Act and the 1934 Act
so long as the Company remains subject to such requirements (it being understood and agreed that nothing herein shall limit any
obligations of the Company under the Securities Purchase Agreement) and the filing of such reports and other documents is required
for the applicable provisions of Rule 144; and

 

(c)  
furnish to each Investor so long as such Investor owns Registrable Securities, promptly upon request, (i) a written statement
by the Company, if true, that it has complied with the reporting, submission and posting requirements of Rule 144 and the 1934
Act, (ii) a copy of the most recent Form 20-F of the Company and such other reports and documents so filed by the Company with
the SEC if such reports are not publicly available via EDGAR, and (iii) such other information as may be reasonably requested
to permit the Investors to sell such securities pursuant to Rule 144 without registration.

 

9.  Assignment
of Registration Rights.

 

The
rights to cause the Company to register Registrable Securities pursuant to this Section 1 may be transferred or assigned, but
only with all related obligations, by an Investor to a transferee or assignee.

 

    	 	16	 

     

    

 

10.  Amendment
of Registration Rights.

 

Provisions
of this Agreement may be amended only with the written consent of the Company and the Required Holders. Any amendment effected
in accordance with this Section 10 shall be binding upon each Investor and the Company, provided that no such amendment shall
be effective to the extent that it (1) applies to less than all of the holders of the holders of Registrable Securities, (2) imposes
any obligation or liability on any Investor without such Investor’s prior written consent (which may be granted or withheld
in such Investor’s sole discretion) or (3) applies retroactively. No waiver shall be effective unless it is in writing and
signed by an authorized representative of the waiving party, provided that the Required Holders (in a writing signed by all of
the Required Holders) may waive any provision of this Agreement, and any waiver of any provision of this Agreement made in conformity
with the provisions of this Section 10 shall be binding on each Investor, provided that no such waiver shall be effective to the
extent that it (1) applies to less than all the Investors (unless a party gives a waiver as to itself only) or (2) imposes any
obligation or liability on any Investor without such Investor’s prior written consent (which may be granted or withheld
in such Investor’s sole discretion). No consideration shall be offered or paid to any Person to amend or consent to a waiver
or modification of any provision of this Agreement unless the same consideration also is offered to all of the parties to this
Agreement.

 

11.  Miscellaneous.

 

(a)  
Solely for purposes of this Agreement, a Person is deemed to be a holder of Registrable Securities whenever such Person owns,
or is deemed to own, of record such Registrable Securities. If the Company receives conflicting instructions, notices or elections
from two or more Persons with respect to the same Registrable Securities, the Company shall act upon the basis of instructions,
notice or election received from such record owner of such Registrable Securities.

 

(b)  
Any notices, consents, waivers or other communications required or permitted to be given under the terms of this Agreement must
be in writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending
party); (iii) with respect to Section 3(c), by e-mail (provided confirmation of transmission is electronically generated and kept
on file by the sending party); or (iv) one (1) Business Day after deposit with a nationally recognized overnight delivery service
with next day delivery specified, in each case, properly addressed to the party to receive the same. The addresses and facsimile
numbers for such communications shall be:

 

	If
    to the Company:	Meridian
    Waste Solutions, Inc.  
	 	One
    Glenlake Parkway NE Suite 900
	 	Atlanta,
    GA30328
	 	Attn:
    Jeffrey Cosman, CEO
	 	 
	With
    a copy to: 	 
	(which
    shall not constitute notice)  	Lucosky
    Brookman LLP
	 	101
    Wood Avenue South
	 	Woodbridge,
    NJ 08830
	 	Attn:  Joseph
    Lucosky, Esq.

 

    	 	17	 

     

    

 

If
to a Buyer, to its address, facsimile number or e-mail address (as the case may be) set forth on the Schedule of Buyers attached
to the Securities Purchase Agreement, with copies to such Buyer’s representatives as set forth on the Schedule of Buyers,
or to such other address, facsimile number and/or e-mail address and/or to the attention of such other Person as the recipient
party has specified by written notice given to each other party five (5) days prior to the effectiveness of such change. Written
confirmation of receipt (A) given by the recipient of such notice, consent, waiver or other communication, (B) mechanically or
electronically generated by the sender’s facsimile machine or e-mail transmission containing the time, date and recipient
facsimile number or e-mail address or (C) provided by a courier or overnight courier service shall be rebuttable evidence of personal
service, receipt by facsimile or receipt from a nationally recognized overnight delivery service in accordance with clause (i),
(ii) or (iii) above, respectively.

 

(c)  
Failure of any party to exercise any right or remedy under this Agreement or otherwise, or delay by a party in exercising such
right or remedy, shall not operate as a waiver thereof.

 

(d)  
All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by the
internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether
of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than
the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting
in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with
any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit,
action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action
or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party
hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding
by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit
in any way any right to serve process in any manner permitted by law. If any provision of this Agreement shall be invalid or unenforceable
in any jurisdiction, such invalidity or unenforceability shall not affect the validity or enforceability of the remainder of this
Agreement in that jurisdiction or the validity or enforceability of any provision of this Agreement in any other jurisdiction.
EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF
ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

    	 	18	 

     

    

 

(e)  
This Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and the instruments referenced
herein and therein constitute the entire agreement among the parties hereto and thereto solely with respect to the subject matter
hereof and thereof. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein and therein. This Agreement, the other Transaction Documents, the schedules and exhibits attached hereto and thereto and
the instruments referenced herein and therein supersede all prior agreements and understandings among the parties hereto solely
with respect to the subject matter hereof and thereof; provided, however, nothing contained in this Agreement or any other Transaction
Document shall (or shall be deemed to) (i) have any effect on any agreements any Investor has entered into with, or any instrument
that any Investor received from, the Company or any of its Subsidiaries prior to the date hereof with respect to any prior investment
made by such Investor in the Company, (ii) waive, alter, modify or amend in any respect any obligations of the Company or any
of its Subsidiaries or any rights of or benefits to any Investor or any other Person in any agreement entered into prior to the
date hereof between or among the Company and/or any of its Subsidiaries and any Investor or any instrument that any Investor received
prior to the date hereof from the Company and/or any of its Subsidiaries and all such agreements and instruments shall continue
in full force and effect or (iii) limit any obligations of the Company under any of the other Transaction Documents.

 

(f)  
Subject to compliance with Section 9 (if applicable), this Agreement shall inure to the benefit of and be binding upon the permitted
successors and assigns of each of the parties hereto. This Agreement is not for the benefit of, nor may any provision hereof be
enforced by, any Person, other than the parties hereto, their respective permitted successors and assigns and the Persons referred
to in Sections 6 and 7 hereof.

 

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

 

(h)  
This Agreement may be executed in two or more identical counterparts, all of which shall be considered one and the same agreement
and shall become effective when counterparts have been signed by each party and delivered to the other party. In the event that
any signature is delivered by facsimile transmission or by an e-mail which contains a portable document format (.pdf) file of
an executed signature page, such signature page shall create a valid and binding obligation of the party executing (or on whose
behalf such signature is executed) with the same force and effect as if such signature page were an original thereof.

 

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

 

(j)  
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent and
no rules of strict construction will be applied against any party. Notwithstanding anything to the contrary set forth in Section
10, terms used in this Agreement but defined in the other Transaction Documents shall have the meanings ascribed to such terms
on the Closing Date in such other Transaction Documents unless otherwise consented to in writing by each Investor.

 

    	 	19	 

     

    

 

(k)  
All consents and other determinations required to be made by the Investors pursuant to this Agreement shall be made, unless otherwise
specified in this Agreement, by the Required Holders.

 

(l)  
The obligations of each Investor under this Agreement and the other Transaction Documents are several and not joint with the obligations
of any other Investor, and no Investor shall be responsible in any way for the performance of the obligations of any other Investor
under this Agreement or any other Transaction Document. Nothing contained herein or in any other Transaction Document, and no
action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute the Investors as, and the Company acknowledges
that the Investors do not so constitute, a partnership, an association, a joint venture or any other kind of group or entity,
or create a presumption that the Investors are in any way acting in concert or as a group or entity with respect to such obligations
or the transactions contemplated by the Transaction Documents or any matters, and the Company acknowledges that the Investors
are not acting in concert or as a group, and the Company shall not assert any such claim, with respect to such obligations or
the transactions contemplated by this Agreement or any of the other the Transaction Documents. Each Investor shall be entitled
to independently protect and enforce its rights, including, without limitation, the rights arising out of this Agreement or out
of any other Transaction Documents, and it shall not be necessary for any other Investor to be joined as an additional party in
any proceeding for such purpose. The use of a single agreement with respect to the obligations of the Company contained herein
was solely in the control of the Company, not the action or decision of any Investor, and was done solely for the convenience
of the Company and not because it was required or requested to do so by any Investor. It is expressly understood and agreed that
each provision contained in this Agreement and in each other Transaction Document is between the Company and an Investor, solely,
and not between the Company and the Investors collectively and not between and among Investors.

 

[Signature
Pages Follow]

 

    	 	20	 

     

    

 

IN
WITNESS WHEREOF, Buyer and the Company have caused their respective signature page to this Registration Rights Agreement to
be duly executed as of the date first written above.

 

	 	COMPANY:
       
	 	 
	 	MERIDIAN
    WASTE SOLUTIONS, INC.
	 	 	 
	 	By:	
	 	 	Name:
	 	 	Title:

 

    	 	21	 

     

    

 

IN
WITNESS WHEREOF, Buyer and the Company have caused their respective signature page to this Registration Rights Agreement to
be duly executed as of the date first written above.

 

	 	BUYER:

         

	 	Name
        of Buyer: __________________________

         

        

        Signature
        of Authorized Signatory of Buyer: __________________________

         

        Name
        of Authorized Signatory: _________________________

         

        Title
        of Authorized Signatory: __________________________

 

Signature
Page to Meridian RRA

 

[SIGNATURE
PAGES CONTINUE]

 

    	 	22	 

     

    

 

EXHIBIT
A

 

SELLING
STOCKHOLDERS

 

The
shares of Common Stock being offered by the selling stockholders are those shares issued to the selling stockholders and issuable
to the selling stockholders exercise of the warrants or the conversion of shares of Series D Preferred Stock. For additional information
regarding the issuance of the shares of Series D Preferred Stock, the shares of Common Stock and the warrants, see “Private
Placement of Preferred Stock, Shares and Warrants” above. We are registering the shares of Common Stock in order to permit
the selling stockholders to offer the shares for resale from time to time. Except for the ownership of the shares and the warrants
issued pursuant to the Securities Purchase Agreement, the selling stockholders have not had any material relationship with us
within the past three years.

 

The
table below lists the selling stockholders and other information regarding the beneficial ownership (as determined under Section
13(d) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder) of the shares of Common Stock
held by each of the selling stockholders. The second column lists the number of shares of Common Stock beneficially owned by the
selling stockholders, based on their respective ownership of shares of Series D Preferred Stock and Common Stock and warrants,
as of ________, 2017, assuming exercise of the warrants and the conversion of the Series D Preferred Stock held by each such selling
stockholder on that date, but taking account of any limitations on exercise set forth therein.

 

The
third column lists the shares of Common Stock being offered by this prospectus by the selling stockholders and does not take into
account any limitations on exercise of the warrants or the conversion of the Series D Preferred Stock set forth therein.

 

In
accordance with the terms of a registration rights agreement with the holders of the shares of Series D Preferred Stock and the
warrants, this prospectus generally covers the resale of (i) the shares and (ii) the maximum number of shares of Common Stock
issuable upon exercise of the warrants and the conversion of the Series D Preferred Stock determined as if the outstanding warrants
were exercised in full and the Series D Preferred Stock were fully converted (without regard to any limitations on exercise contained
therein) as of the trading day immediately preceding the date this registration statement was initially filed with the SEC. Because
the exercise price of the warrants and the conversion price of the Series D Preferred Stock may be adjusted, the number of shares
that will actually be issued may be more or less than the number of shares being offered by this prospectus. The fourth column
assumes the sale of all of the shares offered by the selling stockholders pursuant to this prospectus.

 

Under
the terms of the warrants and the Series D Preferred Stock, a selling stockholder may not exercise the warrants or convert the
Series D Preferred Stock into shares of Common Stock to the extent (but only to the extent) such selling stockholder or any of
its affiliates would beneficially own a number of shares of our shares of Common Stock which would exceed 9.99%. The number of
shares in the second column reflects these limitations. The selling stockholders may sell all, some or none of their shares in
this offering. See “Plan of Distribution.”

 

	Name of Selling Stockholder	 	Number of shares of Common Stock Beneficially Owned Prior to Offering	 	Maximum Number of shares of Common Stock to be Sold Pursuant to this Prospectus	 	Number of  shares of Common Stock Beneficially Owned After Offering
	 	 	 	 	 	 	 

 

*
Table to be completed based on information provided by the Buyers and their assignees.

 

    	 	23	 

     

    

 

PLAN
OF DISTRIBUTION

 

We
are registering the shares of Common Stock issued to the holders and issuable upon exercise of the warrants and the conversion
of Series D Preferred Stock to permit the resale of these shares of Common Stock by the holders of the shares of the Series D
Preferred Stock and warrants from time to time after the date of this prospectus. We will not receive any of the proceeds from
the sale by the selling stockholders of the shares of Common Stock. We will bear all fees and expenses incident to our obligation
to register the shares of Common Stock.

 

The
selling stockholders may sell all or a portion of the shares of Common Stock held by them and offered hereby from time to time
directly or through one or more underwriters, broker-dealers or agents. If the shares of Common Stock are sold through underwriters
or broker-dealers, the selling stockholders will be responsible for underwriting discounts or commissions or agent’s commissions.
The shares of Common Stock may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of
the sale, at varying prices determined at the time of sale or at negotiated prices. These sales may be effected in transactions,
which may involve crosses or block transactions, pursuant to one or more of the following methods:

 

	 	●	on
    any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale;

 

	 	●	in
    the over-the-counter market;

 

	 	●	in
    transactions otherwise than on these exchanges or systems or in the over-the-counter market;

 

	 	●	through
    the writing or settlement of options, whether such options are listed on an options exchange or otherwise;

 

	 	●	ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;

 

	 	●	block
    trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block
    as principal to facilitate the transaction;

 

	 	●	purchases
    by a broker-dealer as principal and resale by the broker-dealer for its account;

 

	 	●	an
    exchange distribution in accordance with the rules of the applicable exchange;

 

	 	●	privately
    negotiated transactions;

 

	 	●	short
    sales made after the date the Registration Statement is declared effective by the SEC;

 

	 	●	broker-dealers
    may agree with a selling securityholder to sell a specified number of such shares at a stipulated price per share;

 

	 	●	a
    combination of any such methods of sale; and

 

	 	●	any
    other method permitted pursuant to applicable law.

 

    	 	24	 

     

    

 

The
selling stockholders may also sell shares of Common Stock under Rule 144 promulgated under the Securities Act of 1933, as amended,
if available, rather than under this prospectus. In addition, the selling stockholders may transfer the shares of Common Stock
by other means not described in this prospectus. If the selling stockholders effect such transactions by selling shares of Common
Stock to or through underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions
in the form of discounts, concessions or commissions from the selling stockholders or commissions from purchasers of the shares
of Common Stock for whom they may act as agent or to whom they may sell as principal (which discounts, concessions or commissions
as to particular underwriters, broker-dealers or agents may be in excess of those customary in the types of transactions involved).
In connection with sales of the shares of Common Stock or otherwise, the selling stockholders may enter into hedging transactions
with broker-dealers, which may in turn engage in short sales of the shares of Common Stock in the course of hedging in positions
they assume. The selling stockholders may also sell shares of Common Stock short and deliver shares of Common Stock covered by
this prospectus to close out short positions and to return borrowed shares in connection with such short sales. The selling stockholders
may also loan or pledge shares of Common Stock to broker-dealers that in turn may sell such shares.

 

The
selling stockholders may pledge or grant a security interest in some or all of the notes, warrants, shares of Common Stock owned
by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell
the shares of Common Stock from time to time pursuant to this prospectus or any amendment to this prospectus under Rule 424(b)(3)
or other applicable provision of the Securities Act amending, if necessary, the list of selling stockholders to include the pledgee,
transferee or other successors in interest as selling stockholders under this prospectus. The selling stockholders also may transfer
and donate the shares of Common Stock in other circumstances in which case the transferees, donees, pledgees or other successors
in interest will be the selling beneficial owners for purposes of this prospectus.

 

To
the extent required by the Securities Act and the rules and regulations thereunder, the selling stockholders and any broker-dealer
participating in the distribution of the shares of Common Stock may be deemed to be “underwriters” within the meaning
of the Securities Act, and any commission paid, or any discounts or concessions allowed to, any such broker-dealer may be deemed
to be underwriting commissions or discounts under the Securities Act. At the time a particular offering of the shares of Common
Stock is made, a prospectus supplement, if required, will be distributed, which will set forth the aggregate amount of shares
of Common Stock being offered and the terms of the offering, including the name or names of any broker-dealers or agents, any
discounts, commissions and other terms constituting compensation from the selling stockholders and any discounts, commissions
or concessions allowed or re-allowed or paid to broker-dealers.

 

    	 	25	 

     

    

 

Under
the securities laws of some states, the shares of Common Stock may be sold in such states only through registered or licensed
brokers or dealers. In addition, in some states the shares of Common Stock may not be sold unless such shares have been registered
or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.

 

There
can be no assurance that any selling stockholder will sell any or all of the shares of Common Stock registered pursuant to the
registration statement, of which this prospectus forms a part.

 

The
selling stockholders and any other person participating in such distribution will be subject to applicable provisions of the Securities
Exchange Act of 1934, as amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable,
Regulation M of the Exchange Act, which may limit the timing of purchases and sales of any of the shares of Common Stock by the
selling stockholders and any other participating person. To the extent applicable, Regulation M may also restrict the ability
of any person engaged in the distribution of the shares of Common Stock to engage in market-making activities with respect to
the shares of Common Stock. All of the foregoing may affect the marketability of the shares of Common Stock and the ability of
any person or entity to engage in market-making activities with respect to the shares of Common Stock.

 

We
will pay all expenses of the registration of the shares of Common Stock pursuant to the registration rights agreement, estimated
to be $[  ] in total, including, without limitation, Securities and Exchange Commission filing fees
and expenses of compliance with state securities or “blue sky” laws; provided, however, a selling stockholder will
pay all underwriting discounts and selling commissions, if any. We will indemnify the selling stockholders against liabilities,
including some liabilities under the Securities Act in accordance with the registration rights agreements or the selling stockholders
will be entitled to contribution. We may be indemnified by the selling stockholders against civil liabilities, including liabilities
under the Securities Act that may arise from any written information furnished to us by the selling stockholder specifically for
use in this prospectus, in accordance with the related registration rights agreements or we may be entitled to contribution.

 

Once
sold under the registration statement, of which this prospectus forms a part, the shares of Common Stock will be freely tradable
in the hands of persons other than our affiliates.

 

 

26

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