Document:

Exhibit 10.1

 

SECURITIES
PURCHASE AGREEMENT

 

SECURITIES
PURCHASE AGREEMENT (the “Agreement”), dated as of October 22, 2018, by and among Wize Pharma, Inc., a Delaware
corporation, with headquarters located at 24 Hanagar Street, POB 6653, Hod Hasharon 4527708, Israel (the “Company”),
and the investors listed on the Schedule of Buyers attached hereto (individually, a “Buyer” and collectively,
the “Buyers”).

 

WHEREAS:

 

A.
The Company and each Buyer is 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 “1933 Act”), and Rule 506(b) of Regulation
D (“Regulation D”) as promulgated by the United States Securities and Exchange Commission (the “SEC”)
under the 1933 Act.

 

B.
The Company has authorized a new series of convertible preferred stock of the Company designated as Series A Convertible Preferred
Stock, the terms of which are set forth in the certificate of designation for such series of preferred stock (the “Certificate
of Designations”) in the form attached hereto as Exhibit A (together with any convertible preferred shares issued
in replacement thereof in accordance with the terms thereof, the “Preferred Shares”), which Preferred Shares
shall be convertible into the Company’s common stock, par value $0.001 per share (the “Common Stock”),
in accordance with the terms of the Certificate of Designations (as converted, collectively, the “Conversion Shares”).

 

C.
Each Buyer wishes to purchase, and the Company wishes to sell, upon the terms and conditions stated in this Agreement, (i)
that aggregate number of shares of Common Stock, if any, set forth opposite such Buyer’s name in column (3) on the Schedule
of Buyers (which aggregate amount for all Buyers together shall be 3,100,000 shares of Common Stock and shall collectively be
referred to herein as the “Common Shares”), (ii) that aggregate number of Preferred Shares, if any, set
forth opposite such Buyer’s name in column (4) on the Schedule of Buyers (which aggregate number for all Buyers shall be
1,350), (iii) Series A Warrants, in substantially the form attached hereto as Exhibit B (the “Series A
Warrants”), representing the right to acquire that number of shares of Common Stock set forth opposite such Buyer’s
name in column (5) on the Schedule of Buyers (which aggregate number for all Buyers shall equal the sum of (i) the number of
Common Shares and (ii) the product of (x) 1,000 and (y) the number of Preferred Shares) (as exercised, collectively, the
“Series A Warrant Shares”) and (iv) Series B Warrants, in substantially the form attached hereto as Exhibit
B (the “Series B Warrants” and together with the Series A Warrants, the “Warrants”),
representing the right to acquire that number of shares of Common Stock set forth opposite such Buyer’s name in column (5) on
the Schedule of Buyers (which aggregate number for all Buyers shall equal the sum of (i) the number of Common Shares and (ii)
the product of (x) 1,000 and (y) the number of Preferred Shares) (as exercised, collectively, the “Series B Warrant
Shares” and together with the Series A Warrant Shares, the “Warrant Shares”).

 

    	 	 	 

     

    

 

D.
Contemporaneously with the execution and delivery of this Agreement, the parties hereto are executing and delivering a Registration
Rights Agreement, substantially in the form attached hereto as Exhibit C (the “Registration Rights Agreement”),
pursuant to which the Company has agreed to provide certain registration rights with respect to the Registrable Securities (as
defined in the Registration Rights Agreement) under the 1933 Act and the rules and regulations promulgated thereunder, and applicable
state securities laws.

 

E.
The Common Shares, the Preferred Shares, the Conversion Shares, the Warrants and the Warrant Shares collectively are referred to
herein as the “Securities”.

 

NOW,
THEREFORE, the Company and each Buyer hereby agree as follows:

 

1.
PURCHASE AND SALE OF COMMON SHARES, PREFERRED SHARES AND WARRANTS.

 

(a)
Purchase of Common Shares, Preferred Shares and Warrants. Subject to the satisfaction (or waiver) of the conditions set
forth in Sections 6 and 7 below, the Company shall issue and sell to each Buyer, and each Buyer severally, but not jointly, shall
purchase from the Company on the Closing Date (as defined below), (w) the number of Common Shares as is set forth opposite such
Buyer’s name in column (3) on the Schedule of Buyers, (x) the number of Preferred Shares, if any, as is set forth opposite
such Buyer’s name in column (4) on the Schedule of Buyers, (y) Series A Warrants to acquire up to that number of Series A
Warrant Shares as is set forth opposite such Buyer’s name in column (5) on the Schedule of Buyers and (z) Series B Warrants
to acquire up to that number of Series B Warrant Shares as is set forth opposite such Buyer’s name in column (5) on the Schedule
of Buyers (the “Closing”).

 

(b)
Closing. The date and time of the Closing (the “Closing Date”) shall be 10:00 a.m., New York City time,
on the date hereof (or such other date and time as is mutually agreed to by the Company and each Buyer) after notification of satisfaction
(or waiver) of the conditions to the Closing set forth in Sections 6 and 7 below, at the offices of Schulte Roth & Zabel LLP,
919 Third Avenue, New York, New York 10022. The Closing may also be undertaken remotely by electronic transfer of Closing documentation.

 

(c)
Purchase Price. The aggregate purchase price for the Common Shares, Preferred Shares, if any, and the Warrants to be purchased
by each Buyer at the Closing shall be the amount set forth opposite each Buyer’s name in column (6) of the Schedule of Buyers
(the “Purchase Price”). Each Buyer shall pay (x) $1.00 for each Common Share and related Warrants and (y) $1,000
for each Preferred Share and related Warrants, if any, in each case, to be purchased by such Buyer at the Closing.

 

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(d)
Form of Payment. On the Closing Date, (i) each Buyer (other than the REDACTED (the “Lead Investor”) and
any investment funds affiliated with the Lead Investor (the “Lead Investor Affiliates”)) will have paid its
Purchase Price for the Common Shares, Preferred Shares, if any, and the Warrants to be issued and sold to such Buyer at the Closing
to the escrow account (the “Escrow Account”) established by the Company and the Placement Agent for such purposes under
the escrow agreement (the “Escrow Agreement”) to be entered into among the Company, Signature Bank, as escrow agent,
and the Placement Agent, (ii) the Lead Investor and the Lead Investor Affiliates shall pay its Purchase Price to the Company for
the Common Shares, Preferred Shares, if any, and the Warrants to be issued and sold to them at the Closing, less, the case of the
Lead Investor, the amounts withheld pursuant to Section 4(g)), by wire transfer of immediately available funds in accordance with
the Company’s written wire instructions, (ii) the Purchase Price will be released from the Escrow Account in accordance with
instructions to be executed by the Company and the Placement Agent and the terms of the Escrow Agreement; and (iii) the Company
shall deliver to each Buyer (w) one or more stock certificates, evidencing the number of Common Shares, if any, such Buyer is purchasing
as is set forth opposite such Buyer’s name in column (3) of the Schedule of Buyers (or, at the election of a Buyer, the issuance
of such Common Shares in book-entry form), (x) one or more stock certificates, evidencing the number of Preferred Shares, if any,
such Buyer is purchasing as is set forth opposite such Buyer’s name in column (4) of the Schedule of Buyers (or, at the election
of a Buyer, the issuance of such Preferred Shares in book-entry form) (y) the Series A Warrants (allocated in the amounts as such
Buyer shall request) such Buyer is purchasing hereunder pursuant to which such Buyer shall have the right to acquire up to such
number of Series A Warrant Shares as is set forth opposite such Buyer’s name in column (5) of the Schedule of Buyers, in
each case duly executed on behalf of the Company and registered in the name of such Buyer or its designee, and (z) the Series B
Warrants (allocated in the amounts as such Buyer shall request) such Buyer is purchasing hereunder pursuant to which such Buyer
shall have the right to acquire up to such number of Series B Warrant Shares as is set forth opposite such Buyer’s name in
column (5) of the Schedule of Buyers, in each case duly executed on behalf of the Company and registered in the name of such Buyer
or its designee.

 

2.
BUYER’S REPRESENTATIONS AND WARRANTIES. Each Buyer, severally and not jointly, represents and warrants with respect
to only itself that, as of the date hereof and as of the Closing Date:

 

(a)
No Public Sale or Distribution. Such Buyer is (i) acquiring the Common Shares, the Preferred Shares, if any, and the Warrants
and (ii) upon exercise of the Warrants (other than pursuant to a Cashless Exercise (as defined in the Warrants)) will acquire the
Warrant Shares issuable upon exercise of the Warrants, in each case, for its own account and not with a view towards, or for resale
in connection with, the public sale or distribution thereof, except pursuant to sales registered or exempted under the 1933 Act;
provided, however, that by making the representations herein, such Buyer does not agree to hold any of the Securities
for any minimum or other specific term and reserves the right to dispose of the Securities at any time in accordance with or pursuant
to a registration statement or an exemption under the 1933 Act. Such Buyer is acquiring the Securities hereunder in the ordinary
course of its business. Such Buyer does not presently have any agreement or understanding, directly or indirectly, with any Person
(as defined below) to distribute any of the Securities. For purposes of this Agreement, “Person” means an individual,
a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization, any other
entity and any governmental entity or any department or agency thereof.

 

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

 

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

 

(d)
Information. Such Buyer and its advisors, if any, have been furnished with all materials relating to the business, finances
and operations of the Company and materials relating to the offer and sale of the Securities that have been requested by such Buyer.
Such Buyer and its advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such inquiries
nor any other due diligence investigations conducted by such Buyer or its advisors, if any, or its representatives shall modify,
amend or affect such Buyer’s right to rely on the Company’s representations and warranties contained herein. Such Buyer
understands that its investment in the Securities involves a high degree of risk. Such Buyer 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.

 

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

 

(f)
Transfer or Resale. Such Buyer understands that except as provided in the Registration Rights Agreement: (i) the Securities
have not been and are not being registered under the 1933 Act or any state securities laws, and may not be offered for sale, sold,
assigned or transferred unless (A) subsequently registered thereunder, (B) such Buyer shall have delivered to the Company an opinion
of counsel, in a generally acceptable form, to the effect that such Securities to be sold, assigned or transferred may be sold,
assigned or transferred pursuant to an exemption from such registration, or (C) such Buyer provides the Company with reasonable
assurance that such Securities can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A promulgated under the 1933
Act, as amended, (or a successor rule thereto) (collectively, “Rule 144”); (ii) any sale of the Securities made
in reliance on Rule 144 may be made only in accordance with the terms of Rule 144 and further, if Rule 144 is not applicable, any
resale of the Securities under circumstances in which the seller (or the Person) through whom the sale is made) may be deemed to
be an underwriter (as that term is defined in the 1933 Act) may require compliance with some other exemption under the 1933 Act
or the rules and regulations of the SEC thereunder; and (iii) neither the Company nor any other Person is under any obligation
to register the Securities under the 1933 Act or any state securities laws or to comply with the terms and conditions of any exemption
thereunder. Notwithstanding the foregoing, the Securities may be pledged in connection with a bona fide margin account or other
loan or financing arrangement secured by the Securities and such pledge of Securities shall not be deemed to be a transfer, sale
or assignment of the Securities hereunder, and no Buyer effecting a pledge of Securities shall be required to provide the Company
with any notice thereof or otherwise make any delivery to the Company pursuant to this Agreement or any other Transaction Document
(as defined in Section 3(b)), including, without limitation, this Section 2(f).

 

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(g)
Legends. Such Buyer understands that the certificates or other instruments representing the Common Shares, the Preferred
Shares and the Warrants and, until such time as the resale of the Common Shares, the Conversion Shares and the Warrant Shares have
been registered under the 1933 Act as contemplated by the Registration Rights Agreement, the stock certificates representing the
Common Shares, the Conversion Shares and the Warrant Shares, except as set forth below, shall bear a restrictive legend in substantially
the following form (and a stop-transfer order may be placed against transfer of such stock certificates):

 

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

 

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The legend set
forth above shall be removed and the Company shall issue a certificate without such legend to the holder of the Securities upon
which it is stamped or issue to such holder by electronic delivery at the applicable balance account at The Depository Trust Company
(“DTC”) following request of a Buyer, if (i) such Securities are registered for resale under the 1933 Act, (ii)
in connection with a sale, assignment or other transfer, such holder provides the Company with an opinion of counsel, in a generally
acceptable form, to the effect that such sale, assignment or transfer of the Securities may be made without registration under
the applicable requirements of the 1933 Act, or (iii) the Securities can be sold, assigned or transferred pursuant to Rule 144
or Rule 144A. The Company shall cause its counsel to promptly issue a legal opinion to the Transfer Agent if required by the Transfer
Agent, and/or to any Buyer if requested by such Buyer, to effect the removal of the legend hereunder. If the Company shall fail
for any reason or for no reason to issue to the holder of the Securities within two (2) Trading Days (as defined in the Warrants)
after the occurrence of any of (i) through (iii) above (the initial date of such occurrence, the “Legend Removal Date”),
a certificate without such legend to such holder or to issue such Securities to such holder by electronic delivery at the applicable
balance account at DTC, and if on or after such Trading Day the holder purchases (in an open market transaction or otherwise) shares
of Common Stock to deliver in satisfaction of a sale by the holder of such Securities that the holder anticipated receiving without
legend from the Company (a “Buy-In”), then the Company shall, within two (2) Trading Days after the holder’s
request and in the holder’s discretion, either (i) pay cash to the holder in an amount equal to the holder’s total
purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased (the “Buy-In Price”),
at which point the Company’s obligation to deliver such unlegended Securities shall terminate, or (ii) promptly honor its
obligation to deliver to the holder such unlegended Securities as provided above and pay cash to the holder in an amount equal
to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock, times (B) any trading
price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning on the applicable
Legend Removal Date and the date the Company makes the applicable cash payment. In addition to such Buyer’s other available
remedies, the Company shall pay to a Buyer, in cash, (i) as partial liquidated damages and not as a penalty, for each $1,000 of
Common Shares or Warrant Shares (based on the Weighted Average Price (as defined in the Warrants) of the Common Stock on the date
such Securities are submitted to the Transfer Agent) delivered for removal of the restrictive legend and subject to this Section
2(g), $10 per Trading Day (increasing to $20 per Trading Day five (5) Trading Days after such damages have begun to accrue) for
each Trading Day after the Legend Removal Date until such certificate is delivered without a legend. The Company shall be responsible
for the fees of its transfer agent and all DTC fees associated with such issuance, including, without limitation, those payable
for same day delivery and/or legend removal.

 

(h)
Validity; Enforcement. This Agreement and the other Transaction Documents to which such Buyer is a party have been duly
and validly authorized, executed and delivered on behalf of such Buyer and shall constitute the legal, valid and binding obligations
of such Buyer enforceable against such Buyer in accordance with their respective terms, except as such enforceability may be limited
by general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar
laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 

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

  

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3.
REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

 

The
Company represents and warrants to each of the Buyers that, as of the date hereof and as of the Closing Date:

 

(a)
Organization and Qualification. Each of the Company and each of its “Subsidiaries” (which for purposes
of this Agreement means any joint venture or any entity in which the Company, directly or indirectly, owns any of the capital stock
or holds an equity or similar interest) are entities duly organized and validly existing and in good standing (excluding for purposes
of the representation regarding good standing, any Subsidiary formed in Israel) under the laws of the jurisdiction in which they
are formed, and have the requisite power and authorization to own their properties and to carry on their business as now being
conducted and as presently proposed to be conducted. Each of the Company and each of its Subsidiaries is duly qualified as a foreign
entity to do business and is in good standing in every jurisdiction in which its ownership of property or the nature of the business
conducted by it makes such qualification necessary, except to the extent that the failure to be so qualified or be in good standing
would not reasonably be expected to have a Material Adverse Effect. As used in this Agreement, “Material Adverse Effect”
means any material adverse effect, on or affecting (i) the business, properties, assets, liabilities, operations, results of operations,
condition (financial or otherwise) or prospects of the Company and of the Subsidiaries, individually or taken as a whole, whether
or not occurring in the ordinary course of business, or (ii) on the transactions contemplated hereby or the other Transaction Documents
or by the agreements and instruments to be entered into in connection herewith or therewith, or (iii) on the authority or ability
of the Company to perform its obligations under the Transaction Documents (as defined below) or (iv) on the legality, validity,
binding effect or enforceability of any of the Transaction Documents. The Company has no Subsidiaries except as set forth on Schedule
3(a).

 

(b)
Authorization; Enforcement; Validity. The Company has the requisite corporate power and authority to enter into and perform
its obligations under this Agreement, the Certificate of Designations, the Warrants, the Registration Rights Agreement, the Irrevocable
Transfer Agent Instructions (as defined in Section 5(b)), the Lock-Up Agreements (as defined in Section 7(xi)) and each of the
other agreements entered into by the parties hereto in connection with the transactions contemplated by this Agreement (collectively,
the “Transaction Documents”) and to issue the Securities in accordance with the terms hereof and thereof. The
execution and delivery of this Agreement and the other Transaction Documents by the Company and the consummation by the Company
of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Common Shares, the Preferred
Shares and the Warrants, the reservation for issuance and the issuance of the Conversion Shares issuable upon conversion of the
Preferred Shares and the reservation for issuance and issuance of Warrant Shares issuable upon exercise of the Warrants have been
duly authorized by the Company’s Board of Directors and (other than the filing with the SEC of a Form D and the 8-K Filing,
the filing of the Certificate of Designations with the Secretary of State of Delaware, and the filing of one or more Registration
Statements (as defined in the Registration Rights Agreement) in accordance with the requirements of the Registration Rights Agreement
and other filings as may be required by state securities agencies) no further filing, consent, or authorization is required by
the Company, its Board of Directors or its stockholders. This Agreement and the other Transaction Documents have been duly executed
and delivered by the Company, and constitute the legal, valid and binding obligations of the Company, enforceable against the 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 or similar laws relating to, or affecting generally, the enforcement
of applicable creditors’ rights and remedies. On or before the Closing, the Certificate of Designations in the form attached
hereto as Exhibit A will have been filed with the Secretary of State of the State of Delaware and be in full force and effect,
enforceable against the Company in accordance with its terms and will not have been amended.

 

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(c)
Issuance of Securities. The issuance of the Common Shares, the Preferred Shares and the Warrants are duly authorized and,
upon issuance in accordance with the terms of the Transaction Documents, shall be validly issued and free from all preemptive or
similar rights, taxes, liens, charges and other encumbrances with respect to the issue thereof and the Common Shares and the Preferred
Shares shall be fully paid and nonassessable with the holders being entitled to the rights and preferences set forth in the Certificate
of Designations. As of the Closing, a number of shares of Common Stock shall have been duly authorized and reserved for issuance
which equals or exceeds (the “Required Reserved Amount”) the sum of (i) the maximum number of Conversion Shares
issuable upon conversion of the Preferred Shares (assuming for purposes hereof, that the Preferred Shares are convertible at the
Conversion Price (as defined in the Certificate of Designations) and without taking into account any limitations on the conversion
of the Preferred Shares set forth in the Certificate of Designations), and (ii) the maximum number of Warrant Shares issuable upon
exercise of the Warrants, each as of the Trading Day (as defined in the Warrants) immediately preceding the applicable date of
determination (without taking into account any limitations on the exercise of the Warrants set forth in the Warrants). As of the
date hereof, there are 494,637,450 shares of Common Stock authorized and unissued. Upon conversion of the Preferred Shares in accordance
with the Certificate of Designations or exercise of the Warrants in accordance with the Warrants, as the case may be, the Conversion
Shares and the Warrant Shares, respectively, will be validly issued, fully paid and nonassessable and free from all preemptive
or similar rights, taxes, liens, charges and other encumbrances with respect to the issue thereof, with the holders being entitled
to all rights accorded to a holder of Common Stock. Assuming in part the accuracy of each of the representations and warranties
of the Buyers set forth in Section 2 of this Agreement, the offer and issuance by the Company of the Securities is exempt from
registration under the 1933 Act.

 

(d)
No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by
the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Common Shares,
the Preferred Shares and the Warrants and reservation for issuance and issuance of the Conversion Shares and the Warrant Shares)
will not (i) result in a violation of the Certificate of Incorporation or Bylaws (each, as defined in Section 3(p)) of the Company,
any memorandum of association, certificate of incorporation, certificate of formation, bylaws, any certificate of designations
or other constituent documents of the Company or any of its Subsidiaries, any capital stock of the Company or any of its Subsidiaries
or the articles of association or bylaws of the Company or any of its Subsidiaries or (ii) conflict with, or constitute a default
(or an event which with notice or lapse of time or both would become a default) in any respect under, or give to others any rights
of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any
of its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including
foreign, federal and state securities laws and regulations and the rules and regulations of the OTC QB (the “Principal
Market”) and applicable laws of the State of Delaware and any foreign, federal, and other state laws) applicable to the
Company or any of its Subsidiaries or by which any property or asset of the Company or any of its Subsidiaries is bound or affected.

 

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(e)
Consents. The Company is not required to obtain any consent, authorization or order of, or make any filing or registration
with (other than the filing with the SEC of a Form D and the 8-K Filing and one or more Registration Statements in accordance with
the requirements of the Registration Rights Agreement, the filing of the Certificate of Designations with the Secretary of State
of Delaware, and other filings as may be required by state securities agencies), any court, governmental agency or any regulatory
or self-regulatory agency or any other Person in order for it to execute, deliver or perform any of its obligations under or contemplated
by the Transaction Documents, in each case in accordance with the terms hereof or thereof. All consents, authorizations, orders,
filings and registrations which the Company is required to obtain pursuant to the preceding sentence have been obtained or effected
on or prior to the Closing Date (or in the case of the filings detailed above, will be made timely after the Closing Date), and
the Company and its Subsidiaries are unaware of any facts or circumstances that might prevent the Company or any of its Subsidiaries
from obtaining or effecting any of the consent, registration, application or filings pursuant to the preceding sentence. The Company
is not in violation of the listing requirements of the Principal Market and has no knowledge of any facts or circumstances that
would reasonably lead to delisting or suspension of the Common Stock in the foreseeable future. The issuance by the Company of
the Securities shall not have the effect of delisting or suspending the Common Stock from the Principal Market.

 

(f)
Acknowledgment Regarding Buyer’s Purchase of Securities. The Company acknowledges and agrees that each Buyer is acting
solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated
hereby and thereby and that no Buyer, other than Buyers that have indicated that they are affiliates of the Company on their signature
page, is (i) an officer or director of the Company or any of its Subsidiaries, (ii) an “affiliate” of the Company or
any of its Subsidiaries (as defined in Rule 144) or (iii) to the knowledge of the Company, a “beneficial owner” of
more than 10% of the shares of Common Stock (as defined for purposes of Rule 13d-3 of the Securities Exchange Act of 1934, as amended
(the “1934 Act”)). The Company further acknowledges that no Buyer is acting as a financial advisor or fiduciary
of the Company or any of its Subsidiaries (or in any similar capacity) with respect to the Transaction Documents and the transactions
contemplated hereby and thereby, and any advice given by a Buyer or any of its representatives or agents in connection with the
Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to such Buyer’s purchase
of the Securities. The Company further represents to each Buyer that the Company’s decision to enter into the Transaction
Documents has been based solely on the independent evaluation by the Company and its representatives.

 

(g)
No General Solicitation; Placement Agent’s Fees. Neither the Company, nor any of its Subsidiaries or 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) in connection with the offer or sale of the Securities. The Company shall be responsible for the payment of any
placement agent’s fees, financial advisory fees, or brokers’ commissions (other than for Persons engaged by any Buyer
or its investment advisor) relating to or arising out of the transactions contemplated hereby, including, without limitation, placement
agent fees payable to ThinkEquity, a Division of Fordham Financial Management Inc. (the “Placement Agent”) in
connection with the sale of the Securities and fees payable (including cash compensation and warrants) to Mesodi Consultation and
Investments Ltd. (“MCI”), pursuant to the letter of engagement dated January 2018 between the Company and MCI
(the “MCI Agreement”). The Company shall pay, and hold each Buyer harmless against, any liability, loss or expense
(including, without limitation, attorney’s fees and out-of-pocket expenses) arising in connection with any such claim. The
Company acknowledges that it has engaged the Placement Agent and MCI in connection with the sale of the Securities. Other than
the Placement Agent and MCI, neither the Company nor any of its Subsidiaries has engaged any placement agent or other agent in
connection with the offer or sale of the Securities.

 

    	 	- 9 -	 

     

    

 

(h)
No Integrated Offering. None of the Company, its Subsidiaries, any of their affiliates, and 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 the issuance of any of the Securities under the 1933 Act, whether through integration with prior
offerings or otherwise, or cause this offering of the Securities to require the approval of the stockholders of the Company for
purposes of the 1933 Act or any applicable stockholder approval provisions, including, without limitation, under the rules and
regulations of any exchange or automated quotation system on which any of the securities of the Company are listed or designated
for quotation. None of the Company, its Subsidiaries, their affiliates or any Person acting on their behalf will take any action
or steps referred to in the preceding sentence that would require registration of the issuance of any of the Securities under the
1933 Act or cause the offering of any of the Securities to be integrated with other offerings for purposes of any such applicable
stockholder approval provisions.

 

(i)
Application of Takeover Protections; Rights Agreement. The Company and its board of directors have taken all necessary action,
if any, in order to render inapplicable any control share acquisition, interested stockholder, business combination, poison pill
(including, without limitation, any distribution under a rights agreement) or other similar anti-takeover provision under the Certificate
of Incorporation, Bylaws or other organizational documents or the laws of the jurisdiction of its formation which is or could become
applicable to any Buyer as a result of the transactions contemplated by this Agreement, including, without limitation, the Company’s
issuance of the Securities and any Buyer’s ownership of the Securities. The Company has not adopted a stockholder rights
plan or similar arrangement relating to accumulations of beneficial ownership of Common Stock or a change in control of the Company
or any of its Subsidiaries.

 

    	 	- 10 -	 

     

    

 

(j)
SEC Documents; Financial Statements. Except as disclosed in Schedule 3(j), since November 21, 2017, the Company
has timely filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant
to the reporting requirements of the 1934 Act (all of the foregoing filed prior to the date hereof or prior to the Closing Date,
and all exhibits included therein and financial statements, notes and schedules thereto and documents incorporated by reference
therein being hereinafter referred to as the “SEC Documents”). The Company has delivered to the Buyers or their
respective representatives true, correct and complete copies of each of the SEC Documents not available on the EDGAR system, if
any (excluding, however, any confidentiality treatment requests, and any correspondence with the SEC). As of their respective
filing dates, the SEC Documents complied in all material respects with the requirements of the 1934 Act and the rules and regulations
of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed
with the SEC, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein
or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading.
As of their respective filing dates, the financial statements of the Company included in the SEC Documents complied as to form
in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect
thereto as in effect as of the time of filing. Such financial statements have been prepared in accordance with United States generally
accepted accounting principles, consistently applied, during the periods involved (“GAAP”) (except (i) as may be otherwise
indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim statements, to the extent
they may exclude footnotes or may be condensed or summary statements) and fairly present in all material respects the financial
position of the Company and its Subsidiaries as of the dates thereof and the results of its operations and cash flows for the
periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments which will not be material
either individually or in the aggregate). No other information provided by or on behalf of the Company to any of the Buyers which
is not included in the SEC Documents, including, without limitation, information referred to in Section 2(d) of this Agreement
or in the disclosure schedules to this Agreement, contains any untrue statement of a material fact or omits to state any material
fact necessary in order to make the statements therein, in the light of the circumstance under which they are or were made, not
misleading.

 

(k)
Absence of Certain Changes. Except as disclosed in Schedule 3(k), since December 31, 2017, there has been no material
adverse change and no material adverse development in the business, assets, liabilities, properties, operations, condition (financial
or otherwise), results of operations or prospects of the Company or any of its Subsidiaries. Except as disclosed in Schedule
3(k), since December 31, 2017, neither the Company nor any of its Subsidiaries has (i) declared or paid any dividends, (ii)
sold any assets, individually or in the aggregate, in excess of $100,000 outside of the ordinary course of business or (iii) had
capital expenditures, individually or in the aggregate, in excess of $100,000. Since February 15, 2015, neither the Company nor
any of its Subsidiaries has taken any steps to seek protection pursuant to any law or statute relating to bankruptcy insolvency,
reorganization, receivership, liquidation or winding up nor does the Company or any Subsidiary have any knowledge or reason to
believe that any of its respective creditors intend to initiate involuntary bankruptcy proceedings or any actual knowledge of any
fact that would reasonably lead a creditor to do so. The Company and its Subsidiaries, individually and on a consolidated basis,
are not as of the date hereof, and after giving effect to the transactions contemplated hereby to occur at the Closing, will not
be Insolvent (as defined below). For purposes of this Section 3(k), “Insolvent” means, with respect to any Person,
(i) the present fair saleable value of such Person’s assets is less than the amount required to pay such Person’s total
Indebtedness (as defined in Section 3(q)), (ii) such Person is unable to pay its debts and liabilities, subordinated, contingent
or otherwise, as such debts and liabilities become absolute and matured, (iii) such Person intends to incur or believes that it
will incur debts that would be beyond its ability to pay as such debts mature or (iv) such Person has unreasonably small capital
with which to conduct the business in which it is engaged as such business is now conducted and is proposed to be conducted.

 

    	 	- 11 -	 

     

    

 

(l)
No Undisclosed Events, Liabilities, Developments or Circumstances. No event, liability, development or circumstance has
occurred or exists, or is contemplated to occur with respect to the Company, its Subsidiaries or their respective business, properties,
prospects, operations or financial condition, that would be required to be disclosed by the Company under applicable securities
laws on a registration statement on Form S-1 filed with the SEC relating to an issuance and sale by the Company of its Common Stock
and which has not been publicly announced.

 

(m)
Conduct of Business; Regulatory Permits. Neither the Company nor any of its Subsidiaries is in violation of any term of
or in default under any certificate of designations of any outstanding series of preferred stock of the Company (if any), its Certificate
of Incorporation or Bylaws or their organizational charter or memorandum of association or certificate of incorporation or articles
of association or bylaws, respectively. Neither the Company nor any of its Subsidiaries is in violation of any judgment, decree
or order or any statute, ordinance, rule or regulation applicable to the Company or any of its Subsidiaries, and neither the Company
nor any of its Subsidiaries will conduct its business in violation of any of the foregoing for so long any Buyer holds any Securities,
except for possible violations which would not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect. Without limiting the generality of the foregoing, the Company is not in violation of any of the rules, regulations or requirements
of the Principal Market and has no knowledge of any facts or circumstances that would reasonably lead to delisting or suspension
of the Common Stock by the Principal Market in the foreseeable future. Except as set forth in Schedule 3(m), since November
21, 2017, the Common Stock has been designated for quotation on the Principal Market. Except as set forth in Schedule 3(m),
since November 21, 2017, (i) trading in the Common Stock has not been suspended by the SEC or the Principal Market and (ii) the
Company has received no communication, written or oral, from the SEC or the Principal Market regarding the suspension or delisting
of the Common Stock from the Principal Market. The Company and its Subsidiaries possess all certificates, authorizations and permits
issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct their respective businesses, except
where the failure to possess such certificates, authorizations or permits would not have, individually or in the aggregate, a Material
Adverse Effect, and neither the Company nor any such Subsidiary has received any notice of proceedings relating to the revocation
or modification of any such certificate, authorization or permit.

 

(n)
Sarbanes-Oxley Act. The Company is in compliance with any and all applicable requirements of the Sarbanes-Oxley Act of 2002,
as amended, that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the SEC thereunder
that are applicable to the Company and effective as of the date hereof.

 

(o)
Transactions With Affiliates. Except as set forth on Schedule 3(o), none of the officers, directors or employees
of the Company or any of its Subsidiaries is presently a party to any transaction with the Company or any of its Subsidiaries (other
than for ordinary course services as employees, officers or directors), including any contract, agreement or other arrangement
providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring
payments to or from any such officer, director or employee or, to the knowledge of the Company or any of its Subsidiaries, any
corporation, partnership, trust or other entity in which any such officer, director, or employee has a substantial interest or
is an officer, director, employee, trustee or partner.

 

    	 	- 12 -	 

     

    

 

(p)
Equity Capitalization. As of the date hereof, the authorized capital stock of the Company consists of (i) 500,000,000 shares
of Common Stock, of which as of the date hereof, 5,362,500 shares are issued and outstanding, 2,514,974 shares are reserved for
issuance pursuant to the Company’s stock option and purchase plans and 3,047,214 shares are reserved for issuance pursuant
to securities (other than the aforementioned options, the Preferred Shares and the Warrants) exercisable or exchangeable for, or
convertible into, Common Stock, (ii) 1,000,000 shares of preferred stock, par value $0.001 per share, of which as of the date hereof,
which none are issued and outstanding and (iii) there are 2,874,419 shares of Common Stock held by non-affiliates of the Company.
All of such outstanding shares have been, or upon issuance will be, validly issued and are fully paid and nonassessable. Except
as disclosed in: (i) Schedule 3(p)(i), none of the Company’s capital stock is subject to preemptive rights or any
other similar rights or any liens or encumbrances suffered or permitted by the Company; (ii) Schedule 3(p)(ii), there are
no outstanding options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to,
or securities or rights convertible into, or exercisable or exchangeable for, any shares of capital stock of the Company or any
of its Subsidiaries, or contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries
is or may become bound to issue additional shares of capital stock of the Company or any of its Subsidiaries or options, warrants,
scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or rights convertible
into, or exercisable or exchangeable for, any shares of capital stock of the Company or any of its Subsidiaries; (iii) Schedule
3(p)(iii), there are no outstanding debt securities, notes, credit agreements, credit facilities or other agreements, documents
or instruments evidencing Indebtedness of the Company or any of its Subsidiaries or by which the Company or any of its Subsidiaries
is or may become bound; (iv) Schedule 3(p)(iv), there are no financing statements securing obligations in any material amounts,
either singly or in the aggregate, filed in connection with the Company or any of its Subsidiaries; (v) Schedule 3(p)(v),
there are no agreements or arrangements under which the Company or any of its Subsidiaries is obligated to register the sale of
any of their securities under the 1933 Act (except pursuant to the Registration Rights Agreement); (vi) Schedule 3(p)(vi),
there are no outstanding securities or instruments of the Company or any of its Subsidiaries which contain any redemption or similar
provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any of its Subsidiaries
is or may become bound to redeem a security of the Company or any of its Subsidiaries; (vii) Schedule 3(p)(vii), there are
no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the Securities;
(viii) Schedule 3(p)(viii), neither the Company nor any Subsidiary has any stock appreciation rights or “phantom stock”
plans or agreements or any similar plan or agreement; and (ix) Schedule 3(p)(ix), the Company and its Subsidiaries have
no liabilities or obligations required to be disclosed in the SEC Documents but not so disclosed in the SEC Documents, other than
those incurred in the ordinary course of the Company’s or any of its Subsidiary’s’ respective businesses and
which, individually or in the aggregate, do not or would not have a Material Adverse Effect. The Company has furnished or made
available to the Buyers true, correct and complete copies of the Company’s Certificate of Incorporation, as amended and as
in effect on the date hereof (the “Certificate of Incorporation”), and the Company’s Bylaws, as amended
and as in effect on the date hereof (the “Bylaws”), and the terms of all securities convertible into, or exercisable
or exchangeable for, shares of Common Stock and the material rights of the holders thereof in respect thereto.

 

    	 	- 13 -	 

     

    

 

(q)
Indebtedness and Other Contracts. Neither the Company nor any of its Subsidiaries (i) except as disclosed in Schedule
3(q)(i), has any outstanding Indebtedness (as defined below), (ii) except as disclosed in Schedule 3(q)(ii), is a party
to any contract, agreement or instrument, the violation of which, or default under which, by the other party(ies) to such contract,
agreement or instrument could reasonably be expected to result in a Material Adverse Effect, (iii) except as disclosed in Schedule
3(q)(iii),is in violation of any term of or in default under any contract, agreement or instrument relating to any Indebtedness,
except where such violations and defaults would not result, individually or in the aggregate, in a Material Adverse Effect, or
(iv) except as disclosed in Schedule 3(q)(iv),is a party to any contract, agreement or instrument relating to any Indebtedness,
the performance of which, in the judgment of the Company’s officers, has or is expected to have a Material Adverse Effect.
Schedule 3(q) provides a detailed description of the material terms of any such outstanding Indebtedness. For purposes of
this Agreement: (x) “Indebtedness” of any Person means, without duplication (A) all indebtedness for borrowed
money, (B) all obligations issued, undertaken or assumed as the deferred purchase price of property or services, including, without
limitation, “capital leases” in accordance with GAAP (other than trade payables entered into in the ordinary course
of business consistent with past practice), (C) all reimbursement or payment obligations with respect to letters of credit, surety
bonds and other similar instruments, (D) all obligations evidenced by notes, bonds, debentures or similar instruments, including
obligations so evidenced incurred in connection with the acquisition of property, assets or businesses, (E) all indebtedness created
or arising under any conditional sale or other title retention agreement, or incurred as financing, in either case with respect
to any property or assets acquired with the proceeds of such indebtedness (even though the rights and remedies of the seller or
bank under such agreement in the event of default are limited to repossession or sale of such property), (F) all monetary obligations
under any leasing or similar arrangement which, in connection with GAAP is classified as a capital lease, (G) all indebtedness
referred to in clauses (A) through (F) above secured by (or for which the holder of such Indebtedness has an existing right, contingent
or otherwise, to be secured by) any mortgage, claim, deed of trust, lien, tax, right of first refusal, pledge, charge, security
interest or other encumbrance of any nature whatsoever in or upon any property or assets (including accounts and contract rights)
with respect to any asset or property owned by any Person, even though the Person which owns such assets or property has not assumed
or become liable for the payment of such indebtedness, and (H) all Contingent Obligations in respect of indebtedness or obligations
of others of the kinds referred to in clauses (A) through (G) above; and (y) “Contingent Obligation” means,
as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness, lease,
dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the
primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged,
or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole
or in part) against loss with respect thereto.

 

(r)
Absence of Litigation. There is no action, suit, proceeding, inquiry or investigation before or by the Principal Market,
any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the Company, threatened
against or affecting the Company or any of its Subsidiaries, the Common Stock or any of the Company’s Subsidiaries or any
of the Company’s or its Subsidiaries’ officers or directors, whether of a civil or criminal nature or otherwise, in
their capacities as such, except as set forth in Schedule 3(r). The matters set forth in Schedule 3(r) would not
reasonably be expected to have a Material Adverse Effect.

 

    	 	- 14 -	 

     

    

 

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

 

(t)
Employee Relations.

 

(i)
Neither the Company nor any of its Subsidiaries is a party to any collective bargaining agreement or employs any member of a union.
The Company and its Subsidiaries believe that their relations with their respective employees are good. No executive officer of
the Company or any of its Subsidiaries (as defined in Rule 501(f) of the 1933 Act) or other key employee of the Company or any
of its Subsidiaries has notified the Company or any such Subsidiary that such officer intends to leave the Company or any such
Subsidiary or otherwise terminate such officer’s employment with the Company or any such Subsidiary. No executive officer
or other key employee of the Company or any of its Subsidiaries is, or is now expected to be, in violation of any material term
of any employment contract, confidentiality, disclosure or proprietary information agreement, non-competition agreement, or any
other contract or agreement or any restrictive covenant, and the continued employment of each such executive officer or other key
employee (as the case may be) does not subject the Company or any of its Subsidiaries to any liability with respect to any of the
foregoing matters.

 

(ii)
The Company and its Subsidiaries are in compliance with all federal, state, local and foreign laws and regulations respecting labor,
employment and employment practices and benefits, terms and conditions of employment and wages and hours, except where failure
to be in compliance would not, either individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect.

 

(u)
Title. The Company and its Subsidiaries do not own any real property and have good and marketable title to all personal
property owned by them which is material to the business of the Company and its Subsidiaries, in each case free and clear of all
liens, encumbrances and defects except such as do not materially affect the value of such property and do not interfere with the
use made and proposed to be made of such property by the Company and any of its Subsidiaries. Any real property and facilities
held under lease by the Company or any of its Subsidiaries are held by them under valid, subsisting and enforceable leases with
such exceptions as are not material and do not interfere with the use made and proposed to be made of such property and buildings
by the Company or any of its Subsidiaries.

 

    	 	- 15 -	 

     

    

 

(v)
Intellectual Property Rights. The Company and its Subsidiaries own or possess adequate rights or licenses to use all trademarks,
trade names, service marks, service mark registrations, service names, original works of authorship, patents, patent rights, copyrights,
inventions, licenses, approvals, governmental authorizations, trade secrets and other intellectual property rights and all applications
and registrations therefor (“Intellectual Property Rights”) necessary to conduct their respective businesses
as now conducted and as presently proposed to be conducted; provided that neither the Company nor any of its Subsidiaries
owns outright any Intellectual Property Rights. Each of the patents licensed by the Company or any of its Subsidiaries is listed
on Schedule 3(v)(i) Except as set forth in Schedule 3(v)(ii), none of the Company’s or its Subsidiaries’
Intellectual Property Rights have expired or terminated or have been abandoned or are expected to expire or terminate or are expected
to be abandoned, within three years from the date of this Agreement. The Company does not have any knowledge of any infringement
by the Company or any of its Subsidiaries of Intellectual Property Rights of others. There is no claim, action or proceeding being
made or brought, or to the knowledge of the Company or any of its Subsidiaries, being threatened, against the Company or any of
its Subsidiaries regarding its Intellectual Property Rights. Neither the Company nor any of its Subsidiaries is aware of any facts
or circumstances which might give rise to any of the foregoing infringements or claims, actions or proceedings. The Company and
its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their Intellectual
Property Rights.

 

(w)
Environmental Laws. The Company and its Subsidiaries (i) are in compliance with any and all Environmental Laws (as hereinafter
defined), (ii) have received all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct
their respective businesses and (iii) are in compliance with all terms and conditions of any such permit, license or approval where,
in each of the foregoing clauses (i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually
or in the aggregate, a Material Adverse Effect. The term “Environmental Laws” means all federal, state, local
or foreign laws relating to pollution or protection of human health or the environment (including, without limitation, ambient
air, surface water, groundwater, land surface or subsurface strata), including, without limitation, laws relating to emissions,
discharges, releases or threatened releases of chemicals, pollutants, contaminants, or toxic or hazardous substances or wastes
(collectively, “Hazardous Materials”) into the environment, or otherwise relating to the manufacture, processing,
distribution, use, treatment, storage, disposal, transport or handling of Hazardous Materials, as well as all authorizations, codes,
decrees, demands or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations
issued, entered, promulgated or approved thereunder.

 

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

 

(y)
Investment Company Status. Neither the Company nor any Subsidiary is, and upon consummation of the sale of the Securities,
and for so long any Buyer holds any Securities, will be, an “investment company,” a company controlled by an “investment
company” or an “affiliated person” of, or “promoter” or “principal underwriter” for,
an “investment company” as such terms are defined in the Investment Company Act of 1940, as amended.

 

    	 	- 16 -	 

     

    

 

(z)
Tax Status. The Company and each of its Subsidiaries (i) has timely made or filed all U.S. federal, state and foreign income
and all other tax returns, reports and declarations required by any jurisdiction to which it is subject, (ii) has timely paid all
taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns,
reports and declarations, except those being contested in good faith and (iii) has set aside on its books provision reasonably
adequate for the payment of all taxes for periods subsequent to the periods to which such returns, reports or declarations apply.
There are no unpaid taxes of the Company or any of its Subsidiaries in any material amount claimed to be due by the taxing authority
of any jurisdiction, and the officers of the Company and its Subsidiaries know of no basis for any such claim.

 

(aa)
Internal Accounting and Disclosure Controls. The Company and each of its Subsidiaries maintain a system of internal accounting
controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general
or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with GAAP and to maintain asset and liability accountability, (iii) access to assets or incurrence of liabilities is permitted
only in accordance with management’s general or specific authorization and (iv) the recorded accountability for assets and
liabilities is compared with the existing assets and liabilities at reasonable intervals and appropriate action is taken with respect
to any difference. The Company maintains disclosure controls and procedures (as such term is defined in Rule 13a-15 under the 1934
Act) that are effective in ensuring that information required to be disclosed by the Company in the reports that it files or submits
under the 1934 Act is recorded, processed, summarized and reported, within the time periods specified in the rules and forms of
the SEC, including, without limitation, controls and procedures designed to ensure that information required to be disclosed by
the Company in the reports that it files or submits under the 1934 Act is accumulated and communicated to the Company’s management,
including its principal executive officer or officers and its principal financial officer or officers, as appropriate, to allow
timely decisions regarding required disclosure. Since November 21, 2017, neither the Company nor any of its Subsidiaries has received
any notice or correspondence from any accountant relating to any potential material weakness in any part of the system of internal
accounting controls of the Company or any of its Subsidiaries.

 

(bb)
Off Balance Sheet Arrangements. There is no transaction, arrangement, or other relationship between the Company or any of
its Subsidiaries and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in its
1934 Act filings and is not so disclosed or that otherwise would be reasonably likely to have a Material Adverse Effect.

 

(cc)
Eligibility for Registration. The Company is eligible to register the Common Shares, the Conversion Shares and the Warrant
Shares for resale by the Buyers using Form S-1 promulgated under the 1933 Act.

 

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

 

    	 	- 17 -	 

     

    

 

(ee)
Manipulation of Price. The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or
indirectly, any action designed to cause or to result, or that could reasonably be expected to cause or result, in the stabilization
or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) other
than pursuant to the engagement of the Placement Agent and MCI, sold, bid for, purchased, or paid any compensation for soliciting
purchases of, any of the Securities, or (iii) other than pursuant to the engagement of the Placement Agent and MCI, paid or agreed
to pay to any Person any compensation for soliciting another to purchase any other securities of the Company.

 

(ff)
Acknowledgement Regarding Buyers’ Trading Activity. The Company acknowledges and agrees that (i) none of the Buyers
has been asked to agree, nor has any Buyer agreed, to desist from purchasing or selling, long and/or short, securities of the Company,
or “derivative” securities based on securities issued by the Company or to hold the Securities for any specified term;
(ii) any Buyer, and counter-parties in “derivative” transactions to which any such Buyer is a party, directly or indirectly,
presently may have a “short” position in the Common Stock, and (iii) each Buyer shall not be deemed to have any affiliation
with or control over any arm’s length counter-party in any “derivative” transaction. The Company further understands
and acknowledges that one or more Buyers may engage in hedging and/or trading activities at various times during the period that
the Securities are outstanding, including, without limitation, during the periods that the value of the Conversion Shares and/or
the Warrant Shares are being determined and (b) such hedging and/or trading activities, if any, can reduce the value of the existing
stockholders’ equity interest in the Company both at and after the time the hedging and/or trading activities are being conducted.
The Company acknowledges that such aforementioned hedging and/or trading activities do not constitute a breach of this Agreement,
the Certificate of Designations, the Warrants or any of the documents executed in connection herewith.

 

(gg)
U.S. Real Property Holding Corporation. Neither the Company nor any of its Subsidiaries is, has ever been, and so long as
any Securities are held by any of the Buyers, shall become, a U.S. real property holding corporation within the meaning of Section
897 of the Internal Revenue Code of 1986, as amended, and the Company and each Subsidiary shall so certify upon any Buyer’s
request.

 

(hh)
Bank Holding Company Act. Neither the Company nor any of its Subsidiaries or affiliates is subject to the Bank Holding Company
Act of 1956, as amended (the “BHCA”) and to regulation by the Board of Governors of the Federal Reserve System
(the “Federal Reserve”). Neither the Company nor any of its Subsidiaries or affiliates owns or controls, directly
or indirectly, five percent (5%) or more of the outstanding shares of any class of voting securities or twenty-five percent (25%)
or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve. Neither
the Company nor any of its Subsidiaries or affiliates exercises a controlling influence over the management or policies of a bank
or any entity that is subject to the BHCA and to regulation by the Federal Reserve.

 

    	 	- 18 -	 

     

    

 

(ii)
No Additional Agreements. Neither the Company nor any of its Subsidiaries has any agreement or understanding with any Buyer
with respect to the transactions contemplated by the Transaction Documents other than as specified in the Transaction Documents.

 

(jj)
Disclosure. Except for discussions specifically regarding the offer and sale of the Securities, the Company confirms that
neither it nor any other Person acting on its behalf has provided any of the Buyers or their agents or counsel with any information
that constitutes or could reasonably be expected to constitute material, nonpublic information concerning the Company or any of
its Subsidiaries, other than the existence of the transactions contemplated by this Agreement and the other Transaction Documents.
The Company understands and confirms that each of the Buyers will rely on the foregoing representations in effecting transactions
in securities of the Company. All disclosure provided to the Buyers regarding the Company and its Subsidiaries, their businesses
and the transactions contemplated hereby, including the schedules to this Agreement, furnished by or on behalf of the Company or
any of its Subsidiaries is true and correct and does not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not
misleading. All of the written information furnished after the date hereof by or on behalf of the Company or any of its Subsidiaries
to the Buyers pursuant to or in connection with this Agreement and the other Transaction Documents, taken as a whole, will be true
and correct in all material respects as of the date on which such information is so provided and will not contain any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the
circumstances under which they are made, not misleading. Each press release issued by the Company or any of its Subsidiaries since
November 21, 2017 did not at the time of release contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which
they were made, not misleading. No event or circumstance has occurred or information exists with respect to the Company or any
of its Subsidiaries or its or their business, properties, liabilities, prospects, operations (including results thereof) or conditions
(financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure at or before the date hereof
or announcement by the Company but which has not been so publicly announced or disclosed. The Company acknowledges and agrees that
no Buyer makes or has made any representations or warranties with respect to the transactions contemplated hereby other than those
specifically set forth in Section 2.

 

(kk)
Shell Company Status. The Company is not, and since November 16, 2017 has not been, an issuer identified in, or subject
to, Rule 144(i)(1) of the 1933 Act.

 

(ll)
Stock Option Plans. Each stock option granted by the Company was granted (i) in accordance with the terms of the applicable
stock option plan of the Company and (ii) with an exercise price at least equal to the fair market value of the Common Stock on
the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s
stock option plan has been backdated. The Company has not knowingly granted, and there is no and has been no policy or practice
of the Company to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the
release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results
or prospects.

 

    	 	- 19 -	 

     

    

 

(mm)
No Disagreements with Accountants and Lawyers. There are no material disagreements of any kind presently existing, or reasonably
anticipated by the Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the
Company and the Company is current with respect to any fees owed to its accountants and lawyers which could affect the Company’s
ability to perform any of its obligations under any of the Transaction Documents.

 

(nn)
Compliance with Anti-Money Laundering Laws. The operations of the Company and its Subsidiaries are and have been conducted
at all times in compliance with applicable financial recordkeeping and reporting requirements and all other applicable U.S. and
non-U.S. anti-money laundering laws, rules and regulations, including, but not limited to, those of the Currency and Foreign Transactions
Reporting Act of 1970, as amended, the United States Bank Secrecy Act, as amended by the USA PATRIOT Act of 2001, and the United
States Money Laundering Control Act of 1986 (18 U.S.C. §§1956 and 1957), as amended, as well as the implementing rules
and regulations promulgated thereunder, and the applicable money laundering statutes of all applicable jurisdictions, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any
governmental agency or self-regulatory body (collectively, the “Anti-Money Laundering Laws”), and no action,
suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or
any of its Subsidiaries with respect to the Anti-Money Laundering Laws is pending or, to the knowledge of the Company, threatened.

 

(oo)
No Conflicts with Sanctions Laws. Neither the Company nor any of its Subsidiaries, nor any director, officer, employee,
agent, affiliate or other person associated with or acting on behalf of the Company or any of its Subsidiaries or affiliates is,
or is directly or indirectly owned or controlled by, a Person that is currently the subject or the target of any sanctions administered
or enforced by the U.S. government (including, without limitation, the Office of Foreign Assets Control of the U.S. Department
of the Treasury (“OFAC”) or the U.S. Departments of State or Commerce and including, without limitation, the
designation as a “Specially Designated National” or on the “Sectoral Sanctions Identifications List”, collectively
“Blocked Persons”), the United Nations Security Council (“UNSC”), the European Union, Her Majesty’s
Treasury (“HMT”) or any other relevant sanctions authority (collectively, “Sanctions Laws”);
neither the Company, any of its Subsidiaries, nor any director, officer, employee, agent, affiliate or other person associated
with or acting on behalf of the Company or any of its Subsidiaries or affiliates, is located, organized or resident in a country
or territory that is the subject or target of a comprehensive embargo or Sanctions Laws prohibiting trade with the country or territory,
including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria (each, a “Sanctioned Country”);
the Company maintains in effect and enforces policies and procedures designed to ensure compliance by the Company and its Subsidiaries
with applicable Sanctions Laws; neither the Company, any of its Subsidiaries, nor any director, officer, employee, agent, affiliate
or other person associated with or acting on behalf of the Company or any of its Subsidiaries or affiliates, acting in any capacity
in connection with the operations of the Company, conducts any business with or for the benefit of any Blocked Person or engages
in making or receiving any contribution of funds, goods or services to, from or for the benefit of any Blocked Person, or deals
in, or otherwise engages in any transaction relating to, any property or interests in property blocked or subject to blocking pursuant
to any applicable Sanctions Laws; no action of the Company or any of its Subsidiaries in connection with (i) the execution, delivery
and performance of this Agreement and the other Transaction Documents, (ii) the issuance and sale of the Securities, or (iii) the
direct or indirect use of proceeds from the Securities or the consummation of any other transaction contemplated hereby or by the
other Transaction Documents or the fulfillment of the terms hereof or thereof, will result in the proceeds of the transactions
contemplated hereby and by the other Transaction Documents being used, or loaned, contributed or otherwise made available, directly
or indirectly, to any Subsidiary, joint venture partner or other person or entity, for the purpose of (i) unlawfully funding or
facilitating any activities of or business with any person that, at the time of such funding or facilitation, is the subject or
target of Sanctions Laws, (ii) unlawfully funding or facilitating any activities of or business in any Sanctioned Country or (iii)
in any other manner that will result in a violation by any Person (including any Person participating in the transaction, whether
as underwriter, advisor, investor or otherwise) of Sanctions Laws. For the past five (5) years, the Company and its Subsidiaries
have not knowingly engaged in and are not now knowingly engaged in any dealings or transactions with any person that at the time
of the dealing or transaction is or was the subject or the target of Sanctions Laws or with any Sanctioned Country.

 

    	 	- 20 -	 

     

    

 

(pp)
Anti-Bribery. Neither the Company nor any of the Subsidiaries has made any contribution or other payment to any official
of, or candidate for, any federal, state or foreign office in violation of any law. Neither the Company, nor any of its Subsidiaries
or affiliates, nor any director, officer, agent, employee or other person associated with or acting on behalf of the Company, or
any of its Subsidiaries or affiliates, has (i) used any funds for any unlawful contribution, gift, entertainment or other unlawful
expense relating to political activity, (ii) made any direct or indirect unlawful payment to any foreign or domestic government
official or employee, to any employee or agent of a private entity with which the Company does or seeks to do business (a “Private
Sector Counterparty”) or to foreign or domestic political parties or campaigns, (iii) violated or is in violation of
any provision of any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials
in International Business Transactions or any applicable provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended
(the “FCPA”), the U.K. Bribery Act 2010, or any other similar law of any other jurisdiction in which the Company
operates its business, including, in each case, the rules and regulations thereunder (the “Anti-Bribery Laws”), (iv)
taken, is currently taking or will take any action in furtherance of an offer, payment, gift or anything else of value, directly
or indirectly, to any person while knowing that all or some portion of the money or value will be offered, given or promised to
anyone to improperly influence official action, to obtain or retain business or otherwise to secure any improper advantage or (v)
otherwise made any offer, bribe, rebate, payoff, influence payment, unlawful kickback or other unlawful payment; the Company and
each of its respective Subsidiaries has instituted and has maintained, and will continue to maintain, policies and procedures reasonably
designed to promote and achieve compliance with the laws referred to in (iii) above and with this representation and warranty;
none of the Company, nor any of its Subsidiaries or affiliates will directly or indirectly use the proceeds of the Securities or
lend, contribute or otherwise make available such proceeds to any subsidiary, affiliate, joint venture partner or other person
or entity for the purpose of financing or facilitating any activity that would violate the laws and regulations referred to in
(iii) above; to the knowledge of the Company, there are, and have been, no allegations, investigations or inquiries with regard
to a potential violation of any Anti-Bribery Laws by the Company, its Subsidiaries or affiliates, or any of their respective current
or former directors, officers, employees, stockholders, representatives or agents, or other persons acting or purporting to act
on their behalf.

 

    	 	- 21 -	 

     

    

 

(qq)
No Disqualification Events. With respect to Securities to be offered and sold hereunder in reliance on Rule 506(b) under
the 1933 Act (“Regulation D Securities”), 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 1933 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 1933 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 Buyers a copy of any disclosures provided
thereunder.

 

(rr)
Other Covered Persons. The Company is not aware of any Person (other than the Placement Agent or MCI) that has been or will
be paid (directly or indirectly) remuneration for solicitation of Buyers or potential purchasers in connection with the sale of
any Regulation D Securities.

 

4.
COVENANTS.

 

(a)
Best Efforts. Each party shall use its best efforts timely to satisfy each of the covenants and the conditions to be satisfied
by it as provided in Sections 6 and 7 of this Agreement.

 

(b)
Form D and Blue Sky. The Company agrees to file a Form D with respect to the Securities as required under Regulation D.
The Company shall, on or before the Closing Date, take such action as the Company shall reasonably determine is necessary in order
to obtain an exemption for or to qualify the Securities for sale to the Buyers at the Closing pursuant to this Agreement under
applicable securities or “Blue Sky” laws of the states of the United States (or to obtain an exemption from such qualification),
and shall provide evidence of any such action so taken to the Buyers on or prior to the Closing Date. The Company shall make all
filings and reports relating to the offer and sale of the Securities required under applicable securities or “Blue Sky”
laws of the states of the United States following the Closing Date.

 

(c)
Reporting Status. Until the date on which the Investors (as defined in the Registration Rights Agreement) shall have sold
all of the Common Shares, Conversion Shares and Warrant Shares and none of the Preferred Shares or Warrants are outstanding (the
“Reporting Period”), the Company shall timely file all reports required to be filed with the SEC pursuant to
the 1934 Act, and the Company shall not terminate its status as an issuer required to file reports under the 1934 Act even if the
1934 Act or the rules and regulations thereunder would no longer require or otherwise permit such termination, and the Company
shall take all actions necessary to maintain its eligibility to register the Common Shares, Conversion Shares and Warrant Shares
for resale by the Investors on Form S-1.

 

    	 	- 22 -	 

     

    

 

(d)
Use of Proceeds. The Company will use the proceeds from the sale of the Securities for general corporate purposes, including
working capital.

 

(e)
Financial Information. The Company agrees to send the following to each Investor during the Reporting Period (i) unless
the following are filed with the SEC through EDGAR and are available to the public through the EDGAR system, within one (1) Business
Day after the filing thereof with the SEC, a copy of its Annual Reports on Form 10-K, any Quarterly Reports on Form 10-Q, any Current
Reports on Form 8-K (or any analogous reports under the 1934 Act) and any registration statements (other than on Form S-8) or amendments
filed pursuant to the 1933 Act, , and (ii) copies of any notices and other information made available or given to the stockholders
of the Company generally, contemporaneously with the making available or giving thereof to the stockholders. As used herein, “Business
Day” means any day other than Saturday, Sunday or other day on which commercial banks in The City of New York are authorized
or required by law to remain closed.

 

(f)
Listing. The Company shall promptly secure the listing of all of the Registrable Securities (as defined in the Registration
Rights Agreement) upon each national securities exchange and automated quotation system, if any, upon which the Common Stock is
then listed (subject to official notice of issuance) and shall maintain such listing of all Registrable Securities from time to
time issuable under the terms of the Transaction Documents. The Company shall maintain the authorization for quotation of the Common
Stock on the Principal Market or any other Eligible Market (as defined in the Warrants). Except as contemplated in Section 4(n)
below, neither the Company nor any of its Subsidiaries shall take any action which would be reasonably expected to result in the
delisting or suspension of the Common Stock on the Principal Market while the Buyers own any Securities. The Company shall pay
all fees and expenses in connection with satisfying its obligations under this Section 4(f).

 

(g)
Fees. The Company shall reimburse the Lead Investor (a Buyer) or its designee(s) (in addition to any other expense amounts
paid to any Buyer or its counsel prior to the date of this Agreement) for all costs and expenses incurred in connection with the
transactions contemplated by the Transaction Documents (including all legal fees and disbursements in connection therewith, documentation
and implementation of the transactions contemplated by the Transaction Documents and due diligence in connection therewith), which
amount may be withheld by such Buyer from its purchase price for any Securities purchased at the Closing to the extent not previously
reimbursed by the Company and which shall not exceed $25,000 without the prior approval of the Company. The Company shall be responsible
for the payment of any placement agent’s fees or commissions, financial advisory fees, or broker’s commissions (other
than for Persons engaged by any Buyer) relating to or arising out of the transactions contemplated hereby, including, without limitation,
any fees or commissions payable to the Placement Agent. The Company shall pay, and hold each Buyer harmless against, any liability,
loss or expense (including, without limitation, reasonable attorney’s fees and out-of-pocket expenses) arising in connection
with any claim relating to any such payment. Except as otherwise set forth in the Transaction Documents, each party to this Agreement
shall bear its own expenses in connection with the sale of the Securities to the Buyers.

  

(h)
Pledge of Securities. The Company acknowledges and agrees that the Securities may be pledged by an Investor in connection
with a bona fide margin agreement or other loan or financing arrangement that is secured by the Securities. The pledge of Securities
shall not be deemed to be a transfer, sale or assignment of the Securities hereunder, and no Investor effecting a pledge of Securities
shall be required to provide the Company with any notice thereof or otherwise make any delivery to the Company pursuant to this
Agreement or any other Transaction Document, including, without limitation, Section 2(f) hereof; provided that an Investor
and its pledgee shall be required to comply with the provisions of Section 2(f) hereof in order to effect a sale, transfer or assignment
of Securities to such pledgee. The Company hereby agrees to execute and deliver such documentation as a pledgee of the Securities
may reasonably request in connection with a pledge of the Securities to such pledgee by an Investor.

 

    	 	- 23 -	 

     

    

 

(i)
Disclosure of Transactions and Other Material Information. On or before the Disclosure Time (as defined below), the Company
shall issue a press release and file a Current Report on Form 8-K. in each case, reasonably acceptable to the Lead Investor, describing
the terms of the transactions contemplated by the Transaction Documents in the form required by the 1934 Act and attaching the
material Transaction Documents (including, without limitation, this Agreement (and all schedules and exhibits to this Agreement),
the form of the Certificate of Designations, the form of Warrant, the form of the Registration Rights Agreement and the form of
Lock-Up Agreement as exhibits to such filing (including all attachments), the “8-K Filing”). In addition, the
Company hereby covenants and agrees that it shall include in the 8-K Filing any information that constitutes, or could reasonably
be expected to constitute, material, nonpublic information regarding the Company or any of its Subsidiaries received by any of
the Buyers from the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents.
Accordingly, from and after the filing of the 8-K Filing with the SEC, no Buyer shall be in possession of any material, nonpublic
information received from the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees
or agents, that is not disclosed in the 8-K Filing. In addition, effective upon the filing of the 8-K Filing, the Company acknowledges
and agrees that any and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company,
any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents, on the one hand, and any
of the Buyers or any of their affiliates, on the other hand, shall terminate and shall be of no further force or effect. The Company
understands and confirms that each of the Buyers will rely on the foregoing in effecting transactions in securities of the Company.
The Company shall not, and shall cause each of its Subsidiaries and its and each of their respective officers, directors, affiliates,
employees and agents, not to, provide any Buyer with any material, nonpublic information regarding the Company or any of its Subsidiaries
from and after the date hereof without the express prior written consent of such Buyer. If a Buyer has, or believes it has, received
any such material, nonpublic information regarding the Company or any of its Subsidiaries from the Company, any of its Subsidiaries
or any of their respective officers, directors, affiliates, employees or agents, it may provide the Company with written notice
thereof. The Company shall, within two (2) Trading Days of receipt of such notice, make public disclosure of such material, nonpublic
information. In the event of a breach of the foregoing covenant by the Company, any of its Subsidiaries, or any of its or their
respective officers, directors, affiliates, employees and agents, in addition to any other remedy provided herein or in the Transaction
Documents, a Buyer shall have the right to make a public disclosure, in the form of a press release, public advertisement or otherwise,
of such material, nonpublic information without the prior approval by the Company, its Subsidiaries, or any of its or their respective
officers, directors, affiliates, employees or agents. No Buyer shall have any liability to the Company, its Subsidiaries, or any
of its or their respective officers, directors, affiliates, stockholders, employees or agents for any such disclosure. To the extent
that the Company delivers any material, non-public information to a Buyer without such Buyer’s consent, the Company hereby
covenants and agrees that such Buyer shall not have any duty of confidentiality to the Company, any of its Subsidiaries, or any
of their respective, officers, directors, affiliates, employees or agents with respect to, or a duty to the Company, any of its
Subsidiaries, or any of their respective, officers, directors, affiliates, employees or agents not to trade on the basis of, such
material, non-public information. Subject to the foregoing, neither the Company, its Subsidiaries nor any Buyer shall issue any
press releases or any other public statements with respect to the transactions contemplated hereby; provided, however,
that the Company shall be entitled, without the prior approval of any Buyer, to make any press release or other public disclosure
with respect to such transactions (i) in substantial conformity with the 8-K Filing and contemporaneously therewith and (ii) as
is required by applicable law and regulations (provided that in the case of clause (i) each Buyer shall be consulted by the Company
in connection with any such press release or other public disclosure prior to its release). Except for the Registration Statement
required to be filed pursuant to the Registration Rights Agreement, without the prior written consent of any applicable Buyer,
neither the Company nor any of its Subsidiaries or affiliates shall disclose the name of such Buyer in any filing, announcement,
release or otherwise; provided, that the foregoing shall not prevent the Company from attaching a copy of this Agreement to the
8-K Filing. As used herein, “Disclosure Time” means, (i) if this Agreement is signed on a day that is not a
Trading Day or after 9:00 a.m. (New York City time) and before midnight (New York City time) on any Trading Day, 9:01 a.m. (New
York City time) on the Trading Day immediately following the date hereof, unless otherwise instructed as to an earlier time by
the Placement Agent, or (ii) if this Agreement is signed between midnight (New York City time) and 9:00 a.m. (New York City time)
on any Trading Day, no later than 9:01 a.m. (New York City time) on the date hereof, unless otherwise instructed as to an earlier
time by the Placement Agent.

 

(j)
Additional Preferred Shares; Variable Securities. So long as any Buyer beneficially owns any Securities, the Company will
not issue any Preferred Shares other than to the Buyers as contemplated hereby and the Company shall not issue any other securities
that would cause a breach or default under the Certificate of Designations or Warrants. For so long as any Warrants remain outstanding,
the Company shall not, in any manner, (i) issue or sell any rights, warrants or options to subscribe for or purchase Common Stock
or directly or indirectly convertible into or exchangeable or exercisable for Common Stock at a price which varies or may vary
with the market price of the Common Stock, including by way of one or more reset(s) to any fixed price unless the conversion, exchange
or exercise price of any such security cannot be less than the then applicable Conversion Price (as defined in the Certificate
of Designations) with respect to the Common Stock into which any Preferred Shares is convertible or the then applicable Exercise
Price (as defined in the Warrants) with respect to the Common Stock into which any Warrant is exercisable or (ii) enter into any
agreement, or issue any securities pursuant to any agreement, including, without limitation, an equity line of credit, at-the-market
offering or similar agreement, whereby the Company may issue securities at a future determined price.

 

    	 	- 24 -	 

     

    

 

(k)
Corporate Existence. So long as any Buyer beneficially owns any Securities, the Company shall (i) maintain its corporate
existence and (ii) not be party to any Fundamental Transaction (as defined in the Certificate of Designations) unless the Company
is in compliance with the applicable provisions governing Fundamental Transactions set forth in the Certificate of Designations
and the Warrants.

 

(l)
Reservation of Shares. So long as any Buyer owns any Securities, the Company shall take all action necessary to at all times
have authorized, and reserved for the purpose of issuance, no less than the Required Reserve Amount. If at any time the number
of shares of Common Stock authorized and reserved for issuance is not sufficient to meet the Required Reserved Amount, the Company
will promptly take all corporate action necessary to authorize and reserve a sufficient number of shares, including, without limitation,
calling a special meeting of stockholders to authorize additional shares to meet the Company’s obligations under Section
3(c), in the case of an insufficient number of authorized shares, obtain stockholder approval of an increase in such authorized
number of shares, and voting the management shares of the Company in favor of an increase in the authorized shares of the Company
to ensure that the number of authorized shares is sufficient to meet the Required Reserved Amount.

 

(m)
Conduct of Business. While any Buyer owns any Securities, the business of the Company and its Subsidiaries shall not be
conducted in violation of any law, ordinance or regulation of any governmental entity, including, without limitation, FCPA and
other applicable Anti-Bribery Laws, OFAC regulations and other applicable Sanctions Laws, and Anti-Money Laundering Laws.

 

(i)
While any Buyer owns any Securities, neither the Company, nor any of its Subsidiaries or affiliates, directors, officers, employees,
representatives or agents shall:

 

(a)
conduct any business or engage in any transaction or dealing with or for the benefit of any Blocked Person, including the making
or receiving of any contribution of funds, goods or services to, from or for the benefit of any Blocked Person;

 

(b)
deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked or subject to blocking
pursuant to the applicable Sanctions Laws;

 

(c)
use any of the proceeds of the transactions contemplated by this Agreement to finance, promote or otherwise support in any manner
any illegal activity, including, without limitation, any Anti-Money Laundering Laws, Sanctions Laws, or Anti-Bribery Laws; or

 

(d)
violate, attempt to violate, or engage in or conspire to engage in any transaction that evades or avoids, or has the purpose of
evading or avoiding, any of the Anti-Money Laundering Laws, Sanctions Laws, or Anti-Bribery Laws.

 

    	 	- 25 -	 

     

    

 

(ii)
While any Buyer owns any Securities, the Company shall maintain in effect and enforce policies and procedures designed to ensure
compliance by the Company and its Subsidiaries and their directors, officers, employees, agents representatives and affiliates
with the Sanctions Laws and Anti-Bribery Laws.

 

(iii)
While any Buyer owns any Securities, the Company will promptly notify the Buyers in writing if any of the Company, or any of its
Subsidiaries or affiliates, directors, officers, employees, representatives or agents, shall become a Blocked Person, or become
directly or indirectly owned or controlled by a Blocked Person.

 

(iv)
The Company shall provide such information and documentation it may have as the Buyers or any of their affiliates may reasonably
request to satisfy compliance with the Anti-Money Laundering Laws, Sanctions Laws, or Anti-Bribery Laws.

 

(v)
The covenants set forth above shall be ongoing while any Buyer owns any Securities. The Company shall promptly notify the Buyers
in writing should it become aware during such period (a) of any changes to these covenants, or (b) if it cannot comply with the
covenants set forth herein. The Company shall also promptly notify the Buyers in writing during such period should it become aware
of an investigation, litigation or regulatory action relating to an alleged or potential violation of the Anti-Money Laundering
Laws, Sanctions Laws, and Anti-Bribery Laws.

 

(n)
[Intentionally Omitted.]

 

(o)
Additional Issuances of Securities.

 

(i)
For purposes of this Section 4(o), the following definitions shall apply.

 

(1)
“Approved Stock Plan” means any employee benefit plan which has been approved by the Board of Directors of the
Company, pursuant to which the Company’s securities may be issued to any employee, officer, consultant or director for services
provided to the Company.

 

(2)
“Common Stock Equivalents” means, collectively, Options and Convertible Securities.

 

(3)
“Convertible Securities” means any stock or securities (other than Options) convertible into or exercisable
or exchangeable for shares of Common Stock.

 

    	 	- 26 -	 

     

    

 

(4)
“Excluded Securities” means any shares of Common Stock issued or issuable: (i) in connection with any Approved
Stock Plan; provided, that any securities to be issued to one or more consultants shall be issued as “restricted securities”
(as defined in Rule 144) and carry no registration rights that require or permit the filing of any registration statement in connection
therewith during the prohibition period in Section 4(o)(ii); (ii) upon conversion of the Preferred Shares, provided that the terms
of the Certificate of Designations are not amended, modified or changed on or after the date hereof; (iii) upon exercise of the
Warrants, provided that the terms of the Warrants are not amended, modified or changed on or after the date hereof; (iv) upon conversion
or exercise of any Options or Convertible Securities which are outstanding on the day immediately preceding the date hereof or
in accordance with any agreements set forth on Schedule 4(o), provided that the terms of such Options or Convertible Securities
or agreements are not amended, modified or changed on or after the date hereof; or (v) securities issued pursuant to acquisitions
or strategic transactions approved by a majority of the disinterested directors of the Company, provided that any such issuance
shall only be to a Person (or to the equity holders of a Person) which is, itself or through its subsidiaries, an operating company
or an owner of an asset in a business synergistic with the business of the Company and shall provide to the Company additional
benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities
for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

(5)
“Options” means any rights, warrants or options to subscribe for or purchase Common Stock or Convertible Securities.

 

(6)
“Trigger Date” means the date that is the earliest to occur of (w) one hundred fifty (150) days following the
date that one or more Registration Statement(s) covering the resale of all Registrable Securities has been effective and available
for the re-sale of all such Registrable Securities, (x) six (6) months following the date that a Buyer hereunder that is not then
an “affiliate” (as defined under Rule 144) may first sell Securities under Rule 144 (which, for the avoidance of doubt,
the parties acknowledge will be the date 6 months from the Closing Date, provided the Company then has adequate current public
information available under Rule 144(c)), (y) one hundred twenty (120) days following the date the Common Stock is listed for trading
on a Qualified Market and (z) the first Trading Day occurring after the Closing Date as of which the Weighted Average Price (as
defined in the Warrants) of the Common Stock has exceeded $5.00 (as adjusted for stock splits, stock dividends, recapitalizations,
reorganizations, reclassification, combinations, reverse stock splits or other similar events occurring after the date hereof)
on each Trading Day during a ten (10) consecutive Trading Day period occurring after the date that one or more Registration Statement(s)
covering the resale of all such Registrable Securities has been effective and available for the re-sale of all such Registrable
Securities. As used herein, “Qualified Market” means the NYSE American, The Nasdaq Global Select Market, The
Nasdaq Global Market, The Nasdaq Capital Market or The New York Stock Exchange, Inc.

 

(ii)
From the date hereof until the Trigger Date, the Company will not, without the prior written consent of the Required Holders (as
defined in Section 9(e)), directly or indirectly (A) file any registration statement (other than on Form S-8) with the SEC or file
any amendment or supplement thereto, or grant any registration rights to any Person that can be exercised prior to the earlier
of such time as set forth above, other than pursuant to the Registration Rights Agreement, (B) offer, sell, grant any option to
purchase, or otherwise dispose of (or announce any offer, sale, grant or any option to purchase or other disposition of) any of
its or its Subsidiaries’ debt, equity or equity equivalent securities, including without limitation any debt, preferred stock
or other instrument or security that is, at any time during its life and under any circumstances, convertible into or exchangeable
or exercisable for Common Stock or Common Stock Equivalents (a “Subsequent Placement”) or (C) be party to any
solicitations, negotiations or discussions with regard to the foregoing.

 

    	 	- 27 -	 

     

    

 

(iii)
From the Trigger Date until the three (3) year anniversary of the Closing Date, the Company will not, directly or indirectly, effect
any Subsequent Placement unless the Company shall have first complied with this Section 4(o)(iii).

 

(1)
The Company shall deliver to each Buyer an irrevocable written notice (the “Offer Notice”) of any proposed or
intended issuance or sale or exchange (the “Offer”) of the securities being offered (the “Offered Securities”)
in a Subsequent Placement, which Offer Notice shall (A) identify and describe the Offered Securities, (B) describe the price
and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to be issued,
sold or exchanged, (C) identify the Persons (if known) to which or with which the Offered Securities are to be offered, issued,
sold or exchanged and (D) offer to issue and sell to or exchange with such Buyers at least 35% of the Offered Securities, allocated
among such Buyers (I) based on such Buyer’s pro rata portion of the sum of (1) the aggregate number of Common Shares purchased
hereunder and (2) the aggregate number of shares of Common Stock issued or issuable upon conversion of the Preferred Shares purchased
hereunder (without regard to any limitation on conversion set forth therein) (the “Basic Amount”), and (II)
with respect to each Buyer that elects to purchase its Basic Amount, any additional portion of the Offered Securities attributable
to the Basic Amounts of other Buyers as such Buyer shall indicate it will purchase or acquire should the other Buyers subscribe
for less than their Basic Amounts (the “Undersubscription Amount”), which process shall be repeated until the
Buyers shall have an opportunity to subscribe for any remaining Undersubscription Amount.

 

(2)
To accept an Offer, in whole or in part, such Buyer must deliver a written notice to the Company prior to the end of the second
(2nd) Business Day after such Buyer’s receipt of the Offer Notice (the “Offer Period”), setting
forth the portion of such Buyer’s Basic Amount that such Buyer elects to purchase and, if such Buyer shall elect to purchase
all of its Basic Amount, the Undersubscription Amount, if any, that such Buyer elects to purchase (in either case, the “Notice
of Acceptance”). If the Basic Amounts subscribed for by all Buyers are less than the total of all of the Basic Amounts,
then each Buyer who has set forth an Undersubscription Amount in its Notice of Acceptance shall be entitled to purchase, in addition
to the Basic Amounts subscribed for, the Undersubscription Amount it has subscribed for; provided, however, that
if the Undersubscription Amounts subscribed for exceed the difference between the total of all the Basic Amounts and the Basic
Amounts subscribed for (the “Available Undersubscription Amount”), each Buyer who has subscribed for any Undersubscription
Amount shall be entitled to purchase only that portion of the Available Undersubscription Amount as the Basic Amount of such Buyer
bears to the total Basic Amounts of all Buyers that have subscribed for Undersubscription Amounts, subject to rounding by the Company
to the extent its deems reasonably necessary. Notwithstanding anything to the contrary contained herein, if the Company desires
to modify or amend the terms and conditions of the Offer prior to the expiration of the Offer Period, the Company may deliver to
the Buyers a new Offer Notice and the Offer Period shall expire on the second (2nd) Business Day after such Buyer’s
receipt of such new Offer Notice.

 

    	 	- 28 -	 

     

    

 

(3)
The Company shall have five (5) Business Days from the expiration of the Offer Period above (A) to offer, issue, sell or exchange
all or any part of such Offered Securities as to which a Notice of Acceptance has not been given by the Buyers (the “Refused
Securities”) pursuant to a definitive agreement (the “Subsequent Placement Agreement”) but only to
the offerees described in the Offer Notice (if so described therein) and only upon terms and conditions (including, without limitation,
unit prices and interest rates) that are not more favorable to the acquiring Person or Persons or less favorable to the Company
than those set forth in the Offer Notice and (B) to publicly announce (I) the execution of such Subsequent Placement Agreement,
and (II) either (x) the consummation of the transactions contemplated by such Subsequent Placement Agreement or (y) the termination
of such Subsequent Placement Agreement, in each case, which shall be filed with the SEC on a Current Report on Form 8-K with such
Subsequent Placement Agreement and any documents contemplated therein filed as exhibits thereto.

 

(4)
In the event the Company shall propose to sell less than all the Refused Securities (any such sale to be in the manner and on the
terms specified in Section 4(o)(iii)(3) above), then each Buyer may, at its sole option and in its sole discretion, reduce the
number or amount of the Offered Securities specified in its Notice of Acceptance to an amount that shall be not less than the number
or amount of the Offered Securities that such Buyer elected to purchase pursuant to Section 4(o)(iii)(2) above multiplied by a
fraction, (A) the numerator of which shall be the number or amount of Offered Securities the Company actually proposes to issue,
sell or exchange (including Offered Securities to be issued or sold to Buyers pursuant to Section 4(o)(iii)(3) above prior to such
reduction) and (B) the denominator of which shall be the original amount of the Offered Securities. In the event that any Buyer
so elects to reduce the number or amount of Offered Securities specified in its Notice of Acceptance, the Company may not issue,
sell or exchange more than the reduced number or amount of the Offered Securities unless and until such securities have again been
offered to the Buyers in accordance with Section 4(o)(iii)(1) above.

 

(5)
Upon the closing of the issuance, sale or exchange of all or less than all of the Refused Securities, the Buyers shall acquire
from the Company, and the Company shall issue to the Buyers, the number or amount of Offered Securities specified in the Notices
of Acceptance, as reduced pursuant to Section 4(o)(iii)(3) above if the Buyers have so elected, upon the terms and conditions specified
in the Offer. The purchase by the Buyers of any Offered Securities is subject in all cases to the preparation, execution and delivery
by the Company and the Buyers of a purchase agreement relating to such Offered Securities reasonably satisfactory in form and substance
to the Buyers and the Company and their respective counsel.

 

    	 	- 29 -	 

     

    

 

(6)
Any Offered Securities not acquired by the Buyers or other persons in accordance with Section 4(o)(iii)(3) above may not be issued,
sold or exchanged until they are again offered to the Buyers under the procedures specified in this Agreement.

 

(7)
The Company and the Buyers agree that if any Buyer elects to participate in the Offer, (A) neither the Subsequent Placement Agreement
with respect to such Offer nor any other transaction documents related thereto (collectively, the “Subsequent Placement
Documents”) shall include any term or provisions whereby any Buyer shall be required to agree to any restrictions in
trading as to any securities of the Company owned by such Buyer prior to such Subsequent Placement, and (B) to the extent that
any securities issued pursuant to a Subsequent Placement are “restricted securities” (as defined in Rule 144), any
registration rights set forth in such Subsequent Placement Documents shall be similar in all material respects to the registration
rights contained in the Registration Rights Agreement.

 

(8)
Notwithstanding anything to the contrary in this Section 4(o) and unless otherwise agreed to by the Buyers, the Company shall either
confirm in writing to the Buyers that the transaction with respect to the Subsequent Placement has been abandoned or shall publicly
disclose its intention to issue the Offered Securities, in either case in such a manner such that the Buyers will not be in possession
of material non-public information, by the seventh (7th)Business Day following delivery of the Offer Notice. If by the
seventh (7th) Business Day following delivery of the Offer Notice no public disclosure regarding a transaction with
respect to the Offered Securities has been made, and no notice regarding the abandonment of such transaction has been received
by the Buyers, such transaction shall be deemed to have been abandoned and the Buyers shall not be deemed to be in possession of
any material, non-public information with respect to the Company. Should the Company decide to pursue such transaction with respect
to the Offered Securities, the Company shall provide each Buyer with another Offer Notice and each Buyer will again have the right
of participation set forth in this Section 4(o)(iii). The Company shall not be permitted to deliver more than one such Offer Notice
to the Buyers in any 60 day period.

 

(iv)
The restrictions contained in subsections (ii) and (iii) of this Section 4(o) shall not apply in connection with the issuance of
any Excluded Securities.

 

    	 	- 30 -	 

     

    

 

(p)
Public Information. At any time during the period commencing from the six (6) month anniversary of the Closing Date and
ending at such time that all of the Securities, if a registration statement is not available for the resale of all of the Securities,
may be sold without restriction or limitation pursuant to Rule 144 and without the requirement to be in compliance with Rule 144(c)(1)
(or, if sooner, the earlier of the Expiration Date of the Warrants or the date that no Warrants remain outstanding), if the Company
shall (i) fail for any reason to satisfy the requirements of Rule 144(c)(1), including, without limitation, the failure to satisfy
the current public information requirements under Rule 144(c) or (ii) if the Company has ever been an issuer described in Rule
144(i)(1)(i) or becomes such an issuer in the future, and the Company shall fail to satisfy any condition set forth in Rule 144(i)(2)
(a “Public Information Failure”) then, as partial relief for the damages to any holder of Securities by reason
of any such delay in or reduction of its ability to sell the Securities (which remedy shall not be exclusive of any other remedies
available at law or in equity), the Company shall pay to each such holder an amount in cash equal to two percent (2.0%) of the
aggregate Purchase Price of such holder’s Securities on the day of a Public Information Failure and on every thirtieth day
(pro rated for periods totaling less than thirty days) thereafter until the earlier of (i) the date such Public Information Failure
is cured and (ii) such time that such Public Information Failure no longer prevents a holder of Securities from selling such Securities
pursuant to Rule 144 without any restrictions or limitations. The payments to which a holder shall be entitled pursuant to this
Section 4(p) are referred to herein as “Public Information Failure Payments.” Public Information Failure Payments
shall be paid on the earlier of (I) the last day of the calendar month during which such Public Information Failure Payments are
incurred and (II) the third Business Day after the event or failure giving rise to the Public Information Failure Payments is cured.
In the event the Company fails to make Public Information Failure Payments in a timely manner, such Public Information Failure
Payments shall bear interest at the rate of 1.5% per month (prorated for partial months) until paid in full.

 

(q)
Lock-Up. The Company shall not amend, modify, waive or terminate any provision of any of the Lock-Up Agreements except to
extend the term of the lock-up period and shall enforce the provisions of each Lock-Up Agreement in accordance with its terms.
If any officer or director that is a party to a Lock-Up Agreement breaches any provision of a Lock-Up Agreement, the Company shall
promptly use its best efforts to seek specific performance of the terms of such Lock-Up Agreement.

 

(r)
FAST Compliance. While any Preferred Shares or Warrants are outstanding, the Company shall maintain a transfer agent that
participates in the DTC Fast Automated Securities Transfer Program.

 

(s)
Notice of Disqualification Events. The Company will notify the Buyers in writing, prior to the Closing Date of (i) any Disqualification
Event relating to any Issuer Covered Person and (ii) any event that would, with the passage of time, become a Disqualification
Event relating to any Issuer Covered Person.

 

(t)
Closing Documents. On or prior to fourteen (14) calendar days after the Closing Date, the Company agrees to deliver, or
cause to be delivered, to each Buyer and Schulte Roth & Zabel LLP a complete closing set of the executed Transaction Documents,
Securities and any other documents required to be delivered to any party pursuant to Section 7 hereof or otherwise.

 

5.
REGISTER; TRANSFER AGENT INSTRUCTIONS.

 

(a)
Register. The Company shall maintain at its principal executive offices (or such other office or agency of the Company as
it may designate by notice to each holder of Securities), a register for the Preferred Shares and the Warrants in which the Company
shall record the name and address of the Person in whose name the Preferred Shares and the Warrants have been issued (including
the name and address of each transferee), the Stated Value (as defined in the Certificate of Designations) of Preferred Shares
held by such Person, the number of Conversion Shares issuable upon conversion of the Preferred Shares and the number of Warrant
Shares issuable upon exercise of the Warrants held by such Person. The Company shall keep the register open and available at all
times during business hours for inspection of any Buyer or its legal representatives.

 

    	 	- 31 -	 

     

    

 

(b)
Transfer Agent Instructions. The Company shall issue irrevocable instructions to its transfer agent, and any subsequent
transfer agent, in the form of Exhibit D attached hereto (the “Irrevocable Transfer Agent Instructions”)
to issue certificates or credit shares to the applicable balance accounts at DTC, registered in the name of each Buyer or its respective
nominee(s), for the Common Shares, the Conversion Shares and the Warrant Shares issued at the Closing or upon conversion of the
Preferred Shares or exercise of the Warrants in such amounts as specified from time to time by each Buyer to the Company upon conversion
of the Preferred Shares or exercise of the Warrants. The Company warrants that no instruction other than the Irrevocable Transfer
Agent Instructions referred to in this Section 5(b), and stop transfer instructions to give effect to Section 2(f) hereof, will
be given by the Company to its transfer agent with respect to the Securities, and that the Securities shall otherwise be freely
transferable on the books and records of the Company as and to the extent provided in this Agreement and the other Transaction
Documents. If a Buyer effects a sale, assignment or transfer of the Securities in accordance with Section 2(f), the Company shall
permit the transfer and shall promptly instruct its transfer agent to issue one or more certificates or credit shares to the applicable
balance accounts at DTC in such name and in such denominations as specified by such Buyer to effect such sale, transfer or assignment.
In the event that such sale, assignment or transfer involves the Common Shares, the Conversion Shares or the Warrant Shares sold,
assigned or transferred pursuant to an effective registration statement or pursuant to Rule 144, the transfer agent shall issue
such Securities to the Buyer, assignee or transferee, as the case may be, without any restrictive legend. The Company acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to a Buyer. Accordingly, the Company acknowledges
that the remedy at law for a breach of its obligations under this Section 5(b) will be inadequate and agrees, in the event of a
breach or threatened breach by the Company of the provisions of this Section 5(b), that a Buyer shall be entitled, in addition
to all other available remedies, to an order and/or injunction restraining any breach and requiring immediate issuance and transfer,
without the necessity of showing economic loss and without any bond or other security being required.

 

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

 

The
obligation of the Company hereunder to issue and sell the Common Shares, the Preferred Shares, if any, and the related Warrants
to each Buyer at the Closing 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 by providing each Buyer with prior written notice thereof:

 

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

 

(ii)
Such Buyer shall have delivered its Purchase Price to the Company (or to the Escrow Account, as applicable) (less, in the case
of the Lead Investor, the amounts withheld pursuant to Section 4(g)) for the Common Shares, the Preferred Shares, if any, and the
related Warrants being purchased by such Buyer at the Closing by wire transfer of immediately available funds pursuant to the wire
instructions provided by the Company.

 

    	 	- 32 -	 

     

    

 

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

 

7.
CONDITIONS TO EACH BUYER’S OBLIGATION TO PURCHASE.

 

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

 

(i)
The Company shall have duly executed and delivered to such Buyer (A) each of the Transaction Documents, (B) the Common Shares (allocated
in such amounts as such Buyer shall request), being purchased by such Buyer at the Closing pursuant to this Agreement as set forth
opposite such Buyer’s name in column (3) of the Schedule of Buyers, (C) the Preferred Shares (allocated in such amounts as
such Buyer shall request), if any, being purchased by such Buyer at the Closing pursuant to this Agreement as set forth opposite
such Buyer’s name in column (4) of the Schedule of Buyers and (D) the related Warrants (allocated in such amounts as such
Buyer shall request) being purchased by such Buyer at the Closing pursuant to this Agreement as set forth opposite such Buyer’s
name in column (5) of the Schedule of Buyers.

 

(ii)
Such Buyer shall have received the opinion of Sichenzia Ross Ference LLP, the Company’s outside counsel, dated as of the
Closing Date, in substantially the form of Exhibit E attached hereto.

 

(iii)
The Company shall have delivered to such Buyer a copy of the Irrevocable Transfer Agent Instructions, in the form of Exhibit D
attached hereto, which instructions shall have been delivered to and acknowledged in writing by the Company’s transfer agent.

 

(iv)
The Company shall have delivered to such Buyer a certificate evidencing the formation and good standing of the Company and each
of its Subsidiaries in such entity’s jurisdiction of formation issued by the Secretary of State (or comparable office) of
such jurisdiction of formation, as of a date within ten (10) days of the Closing Date.

 

(v)
The Company shall have delivered to such Buyer a certificate evidencing the Company’s qualification as a foreign corporation
and good standing issued by the Secretary of State (or comparable office) of each jurisdiction in which the Company conducts business
and is required to so qualify, as of a date within ten (10) days of the Closing Date.

 

    	 	- 33 -	 

     

    

 

(vi)
The Company shall have delivered to such Buyer a certified copy of the Certificate of Incorporation as certified by the Secretary
of State (or comparable office) of the State of Delaware within ten (10) days of the Closing Date.

 

(vii)
The Company shall have delivered to such Buyer a certificate, executed by the Secretary of the Company and dated as of the Closing
Date, as to (i) the resolutions consistent with Section 3(b) as adopted by the Company’s Board of Directors in a form reasonably
acceptable to such Buyer, (ii) the Certificate of Incorporation and (iii) the Bylaws, each as in effect at the Closing, in the
form attached hereto as Exhibit F.

 

(viii)
The representations and warranties of the Company shall be true and correct as of the date when made and as of the Closing Date
as though made at that time (except for representations and warranties that speak as of a specific date which shall be true and
correct as of such specified date) and the Company shall have performed, satisfied and complied in all respects with the covenants,
agreements and conditions required by the Transaction Documents to be performed, satisfied or complied with by the Company at or
prior to the Closing Date. Such Buyer shall have received a certificate, executed by the Chief Executive Officer of the Company,
dated as of the Closing Date, to the foregoing effect and as to such other matters as may be reasonably requested by such Buyer
in the form attached hereto as Exhibit G.

 

(ix)
The Company shall have delivered to such Buyer a letter from the Company’s transfer agent certifying the number of shares
of Common Stock outstanding as of a date within five (5) days of the Closing Date.

 

(x)
The Common Stock (I) shall be designated for quotation or listed on the Principal Market and (II) shall not have been suspended,
as of the Closing Date, by the SEC or the Principal Market from trading on the Principal Market nor shall suspension by the SEC
or the Principal Market have been threatened, as of the Closing Date, either (A) in writing by the SEC or the Principal Market
or (B) by falling below the minimum listing maintenance requirements of the Principal Market.

 

(xi)
The Company shall have delivered to each Buyer a lock-up agreement in the form attached hereto as Exhibit H executed and
delivered by each of the Persons listed on Schedule 7(xi) (collectively, the “Lock-Up Agreements”).

 

(xii)
The Certificate of Designations in the form attached here to as Exhibit A shall have been filed with the Secretary of State
of the State of Delaware and shall be in full force and effect, enforceable against the Company in accordance with its terms and
shall not have been amended.

 

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

 

(xiv)
Such Buyer shall have received the Company’s wire instructions on Company’s letterhead duly executed by an authorized
executive officer of the Company.

 

    	 	- 34 -	 

     

    

 

(xv)
The Company shall have delivered to such Buyer such other documents relating to the transactions contemplated by this Agreement
as such Buyer or its counsel may reasonably request.

 

8.
TERMINATION. In the event that the Closing shall not have occurred with respect to a Buyer on or before five (5) Business
Days from the date hereof due to the Company’s or such Buyer’s failure to satisfy the conditions set forth in Sections
6 and 7 above (and the nonbreaching party’s failure to waive such unsatisfied condition(s)), the nonbreaching party shall
have the option to terminate this Agreement with respect to such breaching party at the close of business on such date by delivering
a written notice to that effect to each other party to this Agreement and without liability of any party to any other party; provided,
however, that if this Agreement is terminated pursuant to this Section 8, the Company shall remain obligated to reimburse the Lead
Investor or its designee(s), as applicable, for the expenses described in Section 4(g) above.

 

9.
MISCELLANEOUS.

 

(a)
Governing Law; Jurisdiction; Jury Trial. 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. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY
RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH
OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

(b)
Counterparts. This Agreement may be executed in two or more identical counterparts, all of which shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party;
provided that a facsimile or .pdf signature shall be considered due execution and shall be binding upon the signatory thereto with
the same force and effect as if the signature were an original, not a facsimile or .pdf signature.

 

    	 	- 35 -	 

     

    

 

(c)
Headings. The headings of this Agreement are for convenience of reference and shall not form part of, or affect the interpretation
of, this Agreement.

 

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

 

(e)
Entire Agreement; Amendments. This Agreement and the other Transaction Documents supersede all other prior oral or written
agreements between the Buyers, the Company, their affiliates and Persons acting on their behalf with respect to the matters discussed
herein, and this Agreement, the other Transaction Documents and the instruments referenced herein and therein contain the entire
understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein
or therein, neither the Company nor any Buyer makes any representation, warranty, covenant or undertaking with respect to such
matters. Provisions of this Agreement may be amended and the observance thereof may be waived (either generally or in a particular
instance and either retroactively or prospectively), only with the written consent of the Company and the holders of at least a
majority of the aggregate number of Registrable Securities issued or issuable hereunder and under the Preferred Shares and Warrants
(without regard to any restriction or limitation on the exercise of the Warrants or conversion of the Notes contained therein)
(the “Required Holders”); provided that any such amendment or waiver that complies with the foregoing but that
disproportionately, materially and adversely affects the rights and/or obligations of any Buyer(s) or holder(s) of Securities relative
to the comparable rights and/or obligations of the other Buyers or holders of Securities shall require the prior written consent
of such adversely affected Buyer(s) or holder(s) of Securities. Any amendment or waiver effected in accordance with this Section
9(e) shall be binding upon each Buyer and holder of Securities and the Company. No such amendment shall be effective to the extent
that it applies to less than all of the Buyers or holders of Securities. No consideration shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of any of the Transaction Documents unless the same consideration
(other than the reimbursement of legal fees) also is offered to all of the parties to the Transaction Documents, holders of Common
Shares, holders of Preferred Shares or holders of the Warrants, as the case may be. The Company has not, directly or indirectly,
made any agreements with any Buyers relating to the terms or conditions of the transactions contemplated by the Transaction Documents
except as set forth in the Transaction Documents. Without limiting the foregoing, the Company confirms that, except as set forth
in this Agreement, no Buyer has made any commitment or promise or has any other obligation to provide any financing to the Company
or otherwise.

 

    	 	- 36 -	 

     

    

 

(f)
Notices. Any notices, consents, waivers or other communications required or permitted to be given under the terms of this
Agreement or any of the other Transaction Documents must be in writing and will be deemed to have been delivered: (i) upon receipt,
when delivered personally; (ii) upon delivery, when sent by facsimile (provided confirmation of transmission is mechanically or
electronically generated and kept on file by the sending party); (iii) upon delivery, when sent by electronic mail (provided that
the sending party does not receive an automated rejection notice); or (iv) one Business Day after deposit with an overnight courier
service, in each case properly addressed to the party to receive the same. The addresses, facsimile numbers and e-mail addresses
for such communications shall be:

 

If to
the Company:

 

Wize
Pharma, Inc.

24 Hanagar
Street

Hod
Hasharon 4527708

Israel

Telephone:      972
(72) 260-0536

Facsimile:        972 (72) 260-0537

Attention:       Or Eisenberg

E-mail:
or@wizepharma.com

 

with
a copy (for informational purposes only) to:

Gregory
Sichenzia, Esq.

Sichenzia
Ross Ference LLP

1185 Avenue of the Americas, 37th Floor

New York,
NY 10036

Telephone:      212-930-9700

Facsimile:        212-930-9725

E-mail:
gsichenzia@srf.law

 

If to
the Transfer Agent:

 

VStock
Transfer LLC

18 Lafayette Place

Woodmere,
NY 11598

Telephone: 212-828-8436

Facsimile:
646-536-3179

Attention:
Yoel Goldfeder

E-mail:
yoel@vstocktransfer.com

 

If to a Buyer,
to its address, facsimile number and e-mail address set forth on the Schedule of Buyers, with copies to such Buyer’s representatives
as set forth on the Schedule of Buyers,

 

    	 	- 37 -	 

     

    

 

with
a copy (for informational purposes only) to:

 

Schulte
Roth & Zabel LLP

919 Third Avenue

New York, New York 10022

Telephone:      (212) 756-2000

Facsimile:        (212) 593-5955

Attention:       Eleazer N. Klein, Esq.

E-mail:            
eleazer.klein@srz.com

 

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 containing the time, date, recipient facsimile number and an image of the first
page of such transmission or (C) provided by an overnight courier service shall be rebuttable evidence of personal service, receipt
by facsimile or receipt from an overnight courier service in accordance with clause (i), (ii) or (iii) above, respectively.

 

(g)
Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective
successors and assigns, including any purchasers of the Common Shares, the Preferred Shares or the Warrants. The Company shall
not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Required Holders, including
by way of a Fundamental Transaction (unless the Company is in compliance with the applicable provisions governing Fundamental Transactions
set forth in the Certificate of Designations and the Warrants). A Buyer may assign some or all of its rights hereunder without
the consent of the Company, in which event such assignee shall be deemed to be a Buyer hereunder with respect to such assigned
rights.

 

(h)
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, except that
each Indemnitee shall have the right to enforce the obligations of the Company with respect to Section 9(k).

 

(i)
Survival. Unless this Agreement is terminated under Section 8, the representations and warranties of the Company and the
Buyers contained in Sections 2 and 3, and the agreements and covenants set forth in Sections 4, 5 and 9 shall survive the Closing
and the deliver and exercise of Securities, as applicable. Each Buyer shall be responsible only for its own representations, warranties,
agreements and covenants hereunder.

 

(j)
Liquidated Damages. The Company’s obligations to pay any partial liquidated damages or other amounts owing under this
Agreement, the Warrant, the Certification of Designation, and the Registration Rights Agrement is a continuing obligation of the
Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the
fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall
have been canceled.

 

    	 	- 38 -	 

     

    

 

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

 

(l)
Indemnification. In consideration of each Buyer’s execution and delivery of the Transaction Documents and acquiring
the Securities thereunder and in addition to all of the Company’s other obligations under the Transaction Documents, the
Company shall defend, protect, indemnify and hold harmless each Buyer and each other holder of the Securities and all of their
stockholders, partners, members, officers, directors, employees and direct or indirect investors and any of the foregoing Persons’
agents or other representatives (including, without limitation, those retained in connection with the transactions contemplated
by this Agreement) (collectively, the “Indemnitees”), as incurred, from and against any and all actions, causes
of action, suits, claims, losses, costs, penalties, fees, liabilities and damages, and expenses in connection therewith (irrespective
of whether any such Indemnitee is a party to the action for which indemnification hereunder is sought), and including reasonable
attorneys’ fees and disbursements (the “Indemnified Liabilities”), incurred by any Indemnitee (unless
such action is based solely upon any conduct by such Indemnitee which is finally judicially determined to constitute fraud, gross
negligence, willful misconduct or malfeasance), as a result of, or arising out of, or relating to (a) any misrepresentation or
breach of any representation or warranty made by the Company in the Transaction Documents or any other certificate, instrument
or document contemplated hereby or thereby, (b) any breach of any covenant, agreement or obligation of the Company contained in
the Transaction Documents or any other certificate, instrument or document contemplated hereby or thereby or (c) any cause of action,
suit or claim brought or made against such Indemnitee by a third party (including for these purposes a derivative action brought
on behalf of the Company) and arising out of or resulting from (i) the execution, delivery, performance or enforcement of the Transaction
Documents or any other certificate, instrument or document contemplated hereby or thereby, (ii) any transaction financed or to
be financed in whole or in part, directly or indirectly, with the proceeds of the issuance of the Securities, (iii) any disclosure
made by such Buyer pursuant to Section 4(i), or (iv) the status of such Buyer or holder of the Securities as an investor in the
Company pursuant to the transactions contemplated by the Transaction Documents. To the extent that the foregoing undertaking by
the Company may be unenforceable for any reason, the Company shall make the maximum contribution to the payment and satisfaction
of each of the Indemnified Liabilities that is permissible under applicable law. Except as otherwise set forth herein, the mechanics
and procedures with respect to the rights and obligations under this Section 9(k) shall be the same as those set forth in Section
6 of the Registration Rights Agreement.

 

(m)
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.

 

    	 	- 39 -	 

     

    

 

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

 

(o)
Rescission and Withdrawal Right. Notwithstanding anything to the contrary contained in (and without limiting any similar
provisions of) the Transaction Documents, whenever any Buyer exercises a right, election, demand or option under a Transaction
Document and the Company does not timely perform its related obligations within the periods therein provided, then such Buyer may
rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or
election in whole or in part without prejudice to its future actions and rights.

 

(p)
Payment Set Aside. To the extent that the Company makes a payment or payments to the Buyers hereunder or pursuant to any
of the other Transaction Documents or the Buyers enforce or exercise their rights hereunder or thereunder, and such payment or
payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent
or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company,
a trustee, receiver or any other Person under any law (including, without limitation, any bankruptcy law, foreign, state or federal
law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally
intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such enforcement
or setoff had not occurred.

 

(q)
Independent Nature of Buyers’ Obligations and Rights. The obligations of each Buyer under any Transaction Document
are several and not joint with the obligations of any other Buyer, and no Buyer shall be responsible in any way for the performance
of the obligations of any other Buyer under any Transaction Document. Nothing contained herein or in any other Transaction Document,
and no action taken by any Buyer pursuant hereto or thereto, shall be deemed to constitute the Buyers as, and the Company acknowledges
that the Buyers do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption
that the Buyers are in any way 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 the Transaction Documents and the Company acknowledges that the Buyers are
not acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents.
The Company acknowledges and each Buyer confirms that it has independently participated in the negotiation of the transaction contemplated
hereby with the advice of its own counsel and advisors. Each Buyer 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 Buyer to be joined as an additional party in any proceeding for such purpose.

  

[Signature Page
Follows]

 

    	 	- 40 -	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	WIZE PHARMA, INC.
	 	 	 
	 	By:	/s/ Or Eisenberg
	 	 	Name: Or Eisenberg
	 	 	Title:   Chief Executive Officer  

 

[Signature
Page to Securities Purchase Agreement]

 

    	 	 	 

     

    

 

[PURCHASER SIGNATURE
PAGES TO WIZE PHARMA, INC. SECURITIES PURCHASE AGREEMENT]

 

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

 

Name
of Purchaser: /s/ [Buyers set forth on Schedule A]

 

Signature
of Authorized Signatory of Purchaser: ________________________________________

 

Name
of Authorized Signatory: ______________________________________________________

 

Title
of Authorized Signatory: _______________________________________________________

 

Email
Address of Authorized Signatory: _______________________________________________

 

Address for Notice
to Purchaser:

 

Election for book-entry
shares: ___ [check for book-entry shares]

 

Election for physical
delivery of a stock certificate: ___ [check for physical stock certificate]

 

Address for Delivery
of Warrant and Stock Certificate, if applicable, to Purchaser (if not same as address for notice):

 

In accordance
with Section 1(f) of the Warrant, the applicable Beneficial Ownership Limitation of the Purchaser shall be:  ___ 4.99%
| ___ 9.99% [check one]

 

In accordance
with Section 4(d) of the Certificate of Designation, the applicable Beneficial Ownership Limitation of the Purchaser relating to
conversions of the Series B Preferred Stock shall be:  

___ 4.99%
| ___ 9.99% | [check one]

 

Affiliate of the
Issuer: _____ [Check if an affiliate of the Company]

 

Subscription
Amount: $__________________

 

Class A Units:

Common Stock:
________________________

Warrant Shares:
________________________

 

Class B Units
(if applicable):

Preferred Stock:
________________________

Warrant Shares:
________________________

 

SSN/EIN:
______________________

 

[Signature Page
to Securities Purchase Agreement]

 

    	 	 	 

     

    

 

SCHEDULE OF
BUYERS

  

	Buyer	 	Address	 	Number
    of Common Shares	 	 	Number
    of Preferred Shares	 	 	Number

    of A Warrants	 	 	Number

of B Warrants	 	 	Purchase
    Price	 
	Bigger Capital Fund, LP	 	159 Jennings Road, Cold Spring Harbor, NY 11724 attn: Michael Bigger	 	 	250,000	 	 	 	0	 	 	 	250,000	 	 	 	250,000	 	 	$	250,000.00	 
	Dagiel Pekatch	 	16 Tidhar St, Ramat Efal, 52960, Israel attn: Dagiel Pekatch	 	 	150,000	 	 	 	0	 	 	 	150,000	 	 	 	150,000	 	 	$	150,000.00	 
	David Ichai	 	David Shimony 58, Jerusalem Israel attn: David Ichai	 	 	50,000	 	 	 	0	 	 	 	50,000	 	 	 	50,000	 	 	$	50,000.00	 
	D-Beta One EQ, Ltd.	 	c/o Delta Beta Advisor, LLC 1012 Springfield Ave, Mountainside, NJ 07092 attn: David Gonzalez	 	 	350,000	 	 	 	0	 	 	 	350,000	 	 	 	350,000	 	 	$	350,000.00	 
	District 2 Capital Fund L.P.	 	175 W. Carver St. Huntington, NY 11743 attn: Eric Schlanger	 	 	250,000	 	 	 	0	 	 	 	250,000	 	 	 	250,000	 	 	$	250,000.00	 
	Richard Dyke Rogers	 	PO Box 128 Dalhart, TX 79022	 	 	50,000	 	 	 	0	 	 	 	50,000	 	 	 	50,000	 	 	$	50,000.00	 
	Jonathan Rubini	 	PO Box 202845 Anchorage, AK 99520	 	 	172,000	 	 	 	178	 	 	 	350,000	 	 	 	350,000	 	 	$	350,000.00	 
	Moshe Zuk	 	Remez 15 Hod Hasheron, Israel attn: Moshe Zuk	 	 	250,000	 	 	 	0	 	 	 	250,000	 	 	 	250,000	 	 	$	250,000.00	 
	Ramnarain Jaigobind	 	30 West Street, Apt 26A New York, NY 10004 attn: Ramnarain Jaigobind	 	 	100,000	 	 	 	0	 	 	 	100,000	 	 	 	100,000	 	 	$	100,000.00	 
	Rimon Gold Assets Ltd	 	32 A Habarzel St. Tel Aviv, 69710 Israel Attn: Rave Ravid & Co.	 	 	400,000	 	 	 	0	 	 	 	400,000	 	 	 	400,000	 	 	$	400,000.00	 
	Shlomo Ben Nasser	 	48 West 38th St., 10th Fl. New York NY, 10018 attn: Shlomo Ben Nasser	 	 	50,000	 	 	 	0	 	 	 	50,000	 	 	 	50,000	 	 	$	50,000.00	 
	Yoav Asulin	 	10 Ramat Eshcol, Haifa, Israel attn: Yoav Asulin	 	 	100,000	 	 	 	0	 	 	 	100,000	 	 	 	100,000	 	 	$	100,000.00	 
	Ziv Reznik	 	Neve Reim 24, Petach Tikva, Israel attn: Ziv Reznik	 	 	100,000	 	 	 	0	 	 	 	100,000	 	 	 	100,000	 	 	$	100,000.00	 
	Alpha Capital Anstalt	 	Alpha Capital Anstalt c/o LH Financial Services Corp. 510 Madison Ave, Suite 1400 New York, NY 10022	 	 	414,000	 	 	 	336	 	 	 	750,000	 	 	 	750,000	 	 	$	750,000.00	 
	Empery Asset Master, Ltd.	 	c/o Empery Asset Management, LP One Rockefeller Plaza, Suite 1205 New York City, NY 10020 attn: Brett Director	 	 	183,173	 	 	 	148	 	 	 	331,173	 	 	 	331,173	 	 	$	331,173.00	 
	Empery Tax Efficient, LP	 	c/o Empery Asset Management, LP One Rockefeller Plaza, Suite 1205 New York City, NY 10020 attn: Brett Director	 	 	30,077	 	 	 	24	 	 	 	54,077	 	 	 	54,077	 	 	$	54,077.00	 
	Empery Tax Efficient II, LP	 	c/o Empery Asset Management, LP One Rockefeller Plaza, Suite 1205 New York City, NY 10020 attn: Brett Director	 	 	200,750	 	 	 	164	 	 	 	364,750	 	 	 	364,750	 	 	$	364,750.00	 
	Sabby Volatility Warrant Master Fund, Ltd.	 	c/o Sabby Management, LLC, 10 Mountainview Road, Suite 205, Upper Saddle River, NJ 07458	 	 	0	 	 	 	500	 	 	 	500,000	 	 	 	500,000	 	 	$	500,000.00	 
	Total	 	 	 	 	3,100,000	 	 	 	1,350	 	 	 	4,450,000	 	 	 	4,450,000	 	 	$	4,450,000.00	 

  

    	 	 	 

     

    

 

EXHIBITS

 

	Exhibit A	Form of Certificate of Designations
	Exhibit B	Form of Warrants
	Exhibit C	Form of Registration Rights Agreement
	Exhibit D	Form of Irrevocable Transfer Agent Instructions
	Exhibit E	Form of Opinion of Company Counsel
	Exhibit F	Form of Secretary’s Certificate
	Exhibit G	Form of Officer’s Certificate
	Exhibit H	Form of Lock-Up Agreement

 

SCHEDULES

 

	Schedule 3(a)	Subsidiaries
	Schedule 3(j)	SEC Documents
	Schedule 3(k)	Absence of Certain Changes
	Schedule 3(m)	Regulatory Permits
	Schedule 3(o)	Transactions with Affiliates
	Schedule 3(p)	Equity Capitalization
	Schedule 3(q)	Indebtedness and Other Contracts
	Schedule 3(r)	Absence of Litigation
	Schedule 3(v)	Intellectual Property Rights
	Schedule 4(o)	Excluded Securities Existing Agreements
	Schedule 7(xi)	Lock-Up Parties

 

    	 	 	 

     

    

 

Exhibit A

 

Form of Certificate
of Designations

 

(see Exhibit 3.1
to 8-K)

 

    	 	A-1 	 

     

    

 

Exhibit B

 

Form of Warrants

 

(See Exhibit 10.2
to 8-K)

 

    	 	B-1 	 

     

    

 

Exhibit C

 

Form of Registration
Rights Agreement

 

(see Exhibit 10.3
to 8-K)

 

    	 	C-1 	 

     

    

 

Exhibit D

 

Form of Irrevocable
Transfer Agent Instructions

 

    	 	D-1 	 

     

    

 

TRANSFER AGENT
INSTRUCTIONS

 

WIZE PHARMA,
INC.

 

October __, 2018

 

VStock Transfer LLC

18 Lafayette Place

Woodmere, NY 11598

Telephone: 212-828-8436

Facsimile: 646-536-3179

Attention: Yoel Goldfeder

E-mail: yoel@vstocktransfer.com

Ladies and Gentlemen:

 

Reference
is made to that certain Securities Purchase Agreement, dated as of October __, 2018 (the “Agreement”), by and
among Wize Pharma, Inc., a Delaware corporation (the “Company”), and the investors named on the Schedule of
Buyers attached thereto (collectively, the “Holders”), pursuant to which the Company is issuing to the Holders
(i) shares (the “Common Shares”) of the common stock of the Company, par value $0.001 per share (the “Common
Stock”), (ii) shares of Series A Convertible Preferred Stock of the Company, par value $0.001 per share (the “Preferred
Shares”) which will be convertible into shares of Common Stock pursuant to the terms of the Certificate of Designations,
Preferences and Rights of the Preferred Shares and (ii) Series A and Series B warrants (the “Warrants”) which
will be exercisable to purchase shares of Common Stock.

 

This
letter shall serve as our irrevocable authorization and direction to you (provided that you are the transfer agent of the Company
at such time):

 

(i)
to issue or re-issue, as the case may be, shares of Common Stock upon transfer or resale of the Common Shares;

 

(ii)
to issue shares of Common Stock upon conversion of the Preferred Shares (the “Conversion Shares”) to or upon
the order of a Holder from time to time upon delivery to you of a properly completed and duly executed Conversion Notice, in the
form attached hereto as Exhibit I, which has been acknowledged by the Company as indicated by the signature of a duly authorized
officer of the Company thereon; and

 

(iii)
to issue shares of Common Stock upon exercise of the Warrants (the “Warrant Shares”) to or upon the order of
a Holder from time to time upon delivery to you of a properly completed and duly executed Exercise Notice, in the form attached
hereto as Exhibit II, which has been acknowledged by the Company as indicated by the signature of a duly authorized officer
of the Company thereon.

 

    	 	D-2 	 

     

    

 

You
acknowledge and agree that so long as you have previously received (a) a legal opinion from the Company’s legal counsel that
either (i) a registration statement covering resales of the Common Shares, the Conversion Shares and/or the Warrant Shares has
been declared effective by the Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933,
as amended (the “1933 Act”), or (ii) sales of the Common Shares, the Conversion Shares and/or the Warrant Shares
may be made in conformity with Rule 144 under the 1933 Act (“Rule 144”) and (b) if applicable, a copy of such
registration statement, then within two (2) business days (provided you have received any required rush order instructions from
the Company) of your receipt of a notice of transfer, Conversion Notice or Exercise Notice you shall issue the certificates representing
the Common Shares, the Conversion Shares and/or the Warrant Shares, as applicable, registered in the names of such transferees,
and such certificates shall not bear any legend restricting transfer of the Common Shares, the Conversion Shares and/or the Warrant
Shares thereby and should not be subject to any stop-transfer restriction; provided, however, that if any such Common
Shares, Conversion Shares and Warrant Shares are not registered for resale under the 1933 Act or able to be sold under Rule 144,
then the certificates for such Common Shares, Conversion Shares and/or Warrant Shares shall bear the following legend:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE
STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL SELECTED BY
THE HOLDER, IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE
144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN
ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

A
form of written confirmation from the Company’s outside legal counsel that a registration statement covering the resales
of the Common Shares, the Conversion Shares and the Warrant Shares has been declared effective by the SEC under the 1933 Act is
attached hereto as Exhibit III.

 

    	 	D-3 	 

     

    

 

Please
execute this letter in the space indicated to acknowledge your agreement to act in accordance with these instructions.

 

	 	Very truly yours,
	 	 
	 	WIZE PHARMA, INC.
	 	 	 
	 	By:	                      
	 	 	Name: Or Eisenberg
	 	 	Title:   Chief Executive Officer

 

THE FOREGOING INSTRUCTIONS
ARE

ACKNOWLEDGED AND
AGREED TO

 

this ___ day of October,
2018

 

	VStock Transfer LLC	 
	 	 	 
	By: 	         	 
	 	Name: 	 
	 	Title: 	 

 

Enclosures

 

		cc:	Empery Asset Master, Ltd.

Empery
Tax Efficient, LP

Empery
Tax Efficient II, LP

Eleazer Klein, Esq.

 

    	 	D-4 	 

     

    

 

EXHIBIT I

 

WIZE PHARMA
INC.

 

CONVERSION NOTICE

 

Reference
is made to the Certificate of Designations, Preferences and Rights of Series A Convertible Preferred Stock of Wize Pharma, Inc.
(the “Certificate of Designations”). In accordance with and pursuant to the Certificate of Designations, the
undersigned hereby elects to convert the number of shares of Series A Convertible Preferred Stock, par value $0.001 per share (the
“Series A Preferred Shares”), of Wize Pharma Inc., a Delaware corporation (the “Company”),
indicated below into shares of Common Stock, par value $0.001 per share (the “Common Stock”), of the Company,
as of the date specified below.

 

(i)
Date of Conversion: _________________________________________________________

 

(ii)
Number of Series A Preferred Shares to be converted: ______________________________

 

(iii)
Stock certificate no(s). of Series A Preferred Shares to be converted: __________________

 

(iv)
Tax ID Number (If applicable): _______________________________________________

 

Please confirm the
following information: ________________________________________________________

 

(v)
Conversion Price:__________________________________________________________

 

(vi)
Number of shares of Common Stock to be issued: ________________________________

 

Please issue the
Common Stock into which the Series A Preferred Shares are being converted to the Holder, or for its benefit, as follows:

 

☐ Check here if requesting delivery as a certificate to the following name and to the following address:

 

Issue
to: _________________________________________

                _________________________________________

 

Address:
_________________________________________

 

Telephone
Number: ________________________________

 

Facsimile
Number: _________________________________

 

☐
Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

 

DTC
Participant: __________________________________

 

    	 	D-5 	 

     

    

 

DTC
Number: ______________________________________

 

Account
Number: ________________________________

 

Authorization: ___________________________________

 

By: ______________________________

Title: _____________________________

 

Dated:

 

Account
Number (if electronic book entry transfer): ________________________________________

 

Transaction
Code Number (if electronic book entry transfer): _________________________________

 

[NOTE
TO HOLDER -- THIS FORM MUST BE SENT CONCURRENTLY TO TRANSFER AGENT]

 

    	 	D-6 	 

     

    

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Conversion Notice and hereby directs VStock Transfer LLC to issue the above indicated number of
shares of Common Stock in accordance with the Irrevocable Transfer Agent Instructions dated October __, 2018 from the Company and
acknowledged and agreed to by VStock Transfer LLC.

 

	 	WIZE PHARMA, INC.
	 	 	 
	 	By:	                              
	 	 	 
	 	Name:	 
	 	Title:	 

 

    	 	D-7 	 

     

    

 

EXHIBIT II

 

EXERCISE NOTICE

TO BE EXECUTED
BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT TO PURCHASE
COMMON STOCK

 

WIZE
PHARMA, INC. 

 

The undersigned
holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”)
of Wize Pharma, Inc., a Delaware corporation (the “Company”), evidenced by the attached Warrant to Purchase
Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1. Form of Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as:

 

		____________	a “Cash Exercise” with respect to _________________
Warrant Shares; and/or

 

		____________	a “Cashless Exercise”
with respect to _______________ Warrant Shares, resulting in a delivery obligation of the Company to the Holder of
__________ shares of Common Stock representing the applicable Net Number.

 

2. Payment of
Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be
issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the Company in
accordance with the terms of the Warrant.

 

3. Delivery of
Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Warrant.

 

Date: _______________
__, ______

 

	 	 
	Name of Registered Holder	 
	 	 	 
	By:	                                      	 
	 	Name:	 
	 	Title:	 

 

    	 	D-8 	 

     

    

 

ACKNOWLEDGMENT

 

The Company hereby
acknowledges this Exercise Notice and hereby directs VStock Transfer LLC to issue the above indicated number of shares of Common
Stock in accordance with the Transfer Agent Instructions dated October __, 2018 from the Company and acknowledged and agreed to
by VStock Transfer LLC.

 

	 	WIZE PHARMA, INC.
	 	 	 
	 	By:	                                 
	 	Name:
	 	Title:

  

    	 	D-9 	 

     

    

 

EXHIBIT III

 

FORM OF NOTICE
OF EFFECTIVENESS

OF REGISTRATION STATEMENT

 

VStock Transfer LLC

[          ]

[          ]

		Telephone:	[          ]

		Facsimile:	[          ]

		Attention:	[          ]

		E-mail:	[          ]

 

		Re:	Wize Pharma, Inc.

 

Ladies and Gentlemen:

 

[We
are][I am] counsel Wize Pharma, Inc., a Delaware corporation (the “Company”), and have represented the Company
in connection with that certain Securities Purchase Agreement, dated as of October [●],
2018 (the “Securities Purchase Agreement”), entered into by and among the Company and the buyers named therein
(collectively, the “Holders”) pursuant to which the Company issued to the Holders (i) shares (the “Common
Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), (ii)
shares of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Preferred Shares”)
convertible into shares of Common Stock and (iii) Series A and Series B warrants exercisable for shares of Common Stock (the “Warrants”).
Pursuant to the Securities Purchase Agreement, the Company also has entered into a Registration Rights Agreement with the Holders
(the “Registration Rights Agreement”) pursuant to which the Company agreed, among other things, to register
the resale of the Registrable Securities (as defined in the Registration Rights Agreement), including the Common Shares, the shares
of Common Stock issuable upon conversion of the Preferred Shares and the shares of Common Stock issuable upon exercise of the Warrants
under the Securities Act of 1933, as amended (the “1933 Act”). In connection with the Company’s obligations
under the Registration Rights Agreement, on ____________ ___, 2018, the Company filed a Registration Statement on Form S-3 (File
No. 333-_____________) (the “Registration Statement”) with the Securities and Exchange Commission (the “SEC”)
relating to the Registrable Securities which names each of the Holders as a selling stockholder thereunder.

 

In
connection with the foregoing, [we][I] advise you that a member of the SEC’s staff has advised [us][me] by telephone that
the SEC has entered an order declaring the Registration Statement effective under the 1933 Act at [ENTER TIME OF EFFECTIVENESS]
on [ENTER DATE OF EFFECTIVENESS] and [we][I] have no knowledge, after telephonic inquiry of a member of the SEC’s
staff, that any stop order suspending its effectiveness has been issued or that any proceedings for that purpose are pending before,
or threatened by, the SEC and the Registrable Securities are available for resale under the 1933 Act pursuant to the Registration
Statement.

 

This
letter shall serve as our standing instruction to you that the shares of Common Stock are freely transferable by the Holders pursuant
to the Registration Statement. You need not require further letters from us to effect any future legend-free issuance or reissuance
of shares of Common Stock to the Holders as contemplated by the Company’s Irrevocable Transfer Agent Instructions dated October
[●], 2018. 

  

	 	Very truly yours,
	 	 
	 	[ISSUER’S COUNSEL]
	 	 	 
	 	By:	                      

 

		CC:	[LIST NAMES OF HOLDERS]

 

    	 	D-10 	 

     

    

 

Exhibit E

 

Form of Opinion
of Company Counsel

 

1. FORM OF LEGAL
OPINION

 

2.
Each of the Company and Wizecon Bio, Inc. (“Wizecon”) is an entity duly formed, validly existing and is in good
standing under the laws of the jurisdiction of its formation. Each of the Company and Wizecon has the requisite power to own, lease
and operate its properties and to conduct its business as presently conducted and described in the Company’s Form 10-K for
the year ended December 31, 2017. Each of the Company and Wizecon is duly qualified to do business and is in good standing in each
jurisdiction in which such qualification is necessary to conduct its business.

 

3.
The Company has the requisite corporate power and authority to execute, deliver and perform all of its obligations under the Transaction
Documents, including, without limitation, the issuance of the Common Shares, the Preferred Shares, the Warrants, the Conversion
Shares and the Warrant Shares, in accordance with the terms thereof. The execution and delivery of the Transaction Documents by
the Company, the filing of the Certificate of Designations with the Secretary of State of Delaware and the consummation by it of
the transactions contemplated therein (including, without limitation, the issuance and sale of the Common Shares, the Preferred
Shares and the Warrants) have been duly authorized by the Company’s Board of Directors and no further consent or authorization
of the Company, its Board of Directors or its stockholders is required therefor. The Transaction Documents have been duly executed
and delivered by the Company and the Certificate of Designations has been properly filed with the Secretary of State of the State
of Delaware and has become effective under the Delaware General Corporation Law (the “DGCL”). The Transaction
Documents constitute valid and binding agreements or obligations of the Company, enforceable against the Company in accordance
with their respective terms.

 

4.
The execution, delivery and performance of the Transaction Documents by the Company, the filing of the Certificate of Designations
with the Secretary of State of Delaware and the consummation by the Company of the transactions contemplated by the Transaction
Documents, including, without limitation, the issuance of the Common Shares, the Preferred Shares, the Conversion Shares, the Warrants
and the Warrant Shares, and the compliance by the Company with the terms thereof (a) do not and will not result in a violation
of, or constitute a default (or an event which, with the giving of notice or lapse of time or both, constitutes or would constitute
a default) under, or give rise to any right of termination, cancellation or acceleration under, (i) the Company’s Certificate
of Incorporation or Bylaws, (ii) any other agreement, note, lease, mortgage, deed or other instrument to which the Company is a
party or by which the Company is bound or affected that has been publicly filed with or since the filing of the Company’s
Form 10-K for the year ended December 31, 2017 (the “Publicly Filed Documents”) or (iii) any applicable federal
statute, law, rule or regulation, the Delaware General Corporation Law or the Principal Market, applicable to the Company, which
in our experience, is generally applicable to similar transactions, or any order, writ, injunction or decree, and (b) to our knowledge,
do not and will not result in or require the creation of any lien, security interest or other charge or encumbrance upon or with
respect to any of its respective properties.

 

    	 	E-1 	 

     

    

 

5.
When issued in accordance with the terms of the Transaction Documents, the Common Shares, the Preferred Shares, the Warrants, the
Conversion Shares and the Warrant Shares will be duly authorized and validly issued, fully paid and nonassessable, and free of
any and all liens and charges and preemptive or similar rights contained in the Company’s Certificate of Incorporation or
Bylaws or any agreement, note, lease, publicly filed mortgage deed or other instrument to which the Company is a party or by which
the Company is bound that are Publicly Filed Documents. The Conversion Shares and the Warrant Shares have been duly and validly
authorized and reserved for issuance by all proper corporate action.

 

6.
As of the date hereof, the authorized capital stock of the Company consists of (i) 500,000,000 shares of Common Stock, par value
$0.001 per share, and (ii) [1,000,000] shares of preferred stock, par value $0.001 per share. None of the Company’s capital
stock is subject to preemptive rights or other rights of the stockholders of the Company pursuant to the Certificate of Incorporation
or the Bylaws or under the DGCL or pursuant to any agreement, note, lease, mortgage deed or other instrument to which the Company
is a party or by which the Company is bound that is a Publicly Filed Document. To our knowledge, there are no securities or instruments
of the Company containing anti-dilution or similar provisions that will be triggered by the issuance of the Common Shares, the
Preferred Shares, the Warrants, the Conversion Shares or the Warrant Shares. The rights, preferences and privileges of the Preferred
Shares are as stated in the Certificate of Designations.

 

7.
The offer and sale of the Common Shares, the Preferred Shares and the Warrants in accordance with the Securities Purchase Agreement,
and the issuance and delivery of the Conversion Shares and the Warrant Shares in accordance with the Transaction Documents constitute
transactions exempt from the registration requirements of the Securities Act of 1933, as amended.

 

8.
No authorization, approval, consent, filing or other order of any federal or state governmental body, regulatory agency, self-regulatory
organization or stock exchange or market, or the stockholders of the Company, or any court or, to our knowledge, any third party,
is required to be obtained by the Company to enter into and perform its obligations under the Transaction Documents, or for the
issuance and sale of the Common Shares, the Preferred Shares, the Warrants, the Conversion Shares or the Warrant Shares in accordance
with the Transaction Documents or for the exercise of any rights and remedies under any Transaction Documents, except (i) the
filing of a Form D under Regulation D of the Securities Act of 1933, as amended, (ii) the filing of a Form 8-K pursuant
to the Securities Exchange Act of 1934, as amended and (iii) any action necessary in order to qualify the Common Shares, the Preferred
Shares, the Warrants, the Conversion Shares and the Warrant Shares under applicable securities or “Blue Sky” laws of
the states of the United States.

 

9.
To our knowledge, no action, suit, proceeding, inquiry or investigation before or by any court, public board or body or any governmental
agency or self-regulatory organization is pending or threatened against the Company or any of its Subsidiaries or any of their
properties or assets.

 

10.
The Company is not an “investment company” or any entity controlled by an “investment company,” as such
term is defined in the Investment Company Act of 1940, as amended.

 

    	 	E-2 	 

     

    

 

Exhibit F

 

Form of Secretary’s
Certificate

 

    	 	F-1 	 

     

    

  

WIZE PHARMA, INC.

SECRETARY’S CERTIFICATE

 

The
undersigned hereby certifies that he is the duly elected, qualified and acting Secretary of Wize Pharma, Inc., a Delaware
corporation (the “Company”), and that as such he is authorized to execute and deliver this certificate in
the name and on behalf of the Company and in connection with the Securities Purchase Agreement, dated as of October __, 2018,
by and among the Company and the investors listed on the Schedule of Buyers attached thereto (the “Securities
Purchase Agreement”), and further certifies in his official capacity, in the name and on behalf of the Company, the
items set forth below. Capitalized terms used but not otherwise defined herein shall have the meaning set forth in the
Securities Purchase Agreement.

 

		(i)	Attached hereto as Exhibit A is a true, correct
and complete copy of the unanimous written consent of the Board of Directors of the Company, dated October __, 2018 approving
the execution by the Company of the Securities Purchase Agreement and the Transaction Documents, and the consummation of the transactions
contemplated thereby. The resolutions contained in Exhibit A have not in any way been amended, modified, revoked or rescinded,
have been in full force and effect since their adoption to and including the date hereof and are now in full force and effect.

 

		(ii)	Attached hereto as Exhibit B is a true, correct
and complete copy of the Certificate of Incorporation of the Company, together with any and all amendments thereto, and no action
has been taken to further amend, modify or repeal such Certificate of Incorporation, the same being in full force and effect in
the attached form as of the date hereof.

 

		(iii)	Attached hereto as Exhibit C is a true, correct
and complete copy of the Bylaws of the Company and any and all amendments thereto, and no action has been taken to further amend,
modify or repeal such Bylaws, the same being in full force and effect in the attached form as of the date hereof.

 

		(iv)	Each person listed below has been duly elected or appointed
to the position(s) indicated opposite his or her name and is duly authorized to sign the Securities Purchase Agreement and each
of the Transaction Documents on behalf of the Company, and the signature appearing opposite such person’s name below is
such person’s genuine signature.

  

	Name	 	Position	 	Signature
	 	 	 	 	 
	Or Eisenberg	 	Chief Executive Officer, Chief Financial Officer, Treasurer, and Secretary	 	_________________________
	 	 	 	 	 
	Noam Danenberg	 	Chief Operating Officer	 	_________________________

 

    	 	F-2 	 

     

    

 

IN
WITNESS WHEREOF, the undersigned has hereunto set his hand as of this __th day of October 2018.

 

	 	 
	 	Or Eisenberg
	 	Secretary

 

I,
Noam Danenberg, Chief Operating Officer of the Company, hereby certify that Or Eisenberg is the duly elected, qualified and acting
Secretary of the Company and that the signature set forth above is his true signature.

 

	 	 
	 	Noam Danenberg
	 	Chief Operating Officer

 

    	 	F-3 	 

     

    

 

Exhibit G

 

Form of Officer’s
Certificate

 

    	 	G-1 	 

     

    

 

WIZE
PHARMA, INC.

 

OFFICER’S
CERTIFICATE

 

The undersigned
Chief Executive Officer of Wize Pharma, Inc., a Delaware corporation (the “Company”), hereby represents, warrants
and certifies to the Buyers, pursuant to Section 7(viii) of the Agreement (as defined below), as follows:

 

		1.	The representations and warranties of the Company set forth
in Section 3 of the Securities Purchase Agreement, dated as of October __, 2018 (the “Agreement”), by and among
the Company and the investors identified on the Schedule of Buyers attached to the Agreement (the “Buyers”),
are true and correct in all respects as of the date hereof (except for representations and warranties that speak as of a specific
date, which are true and correct as of such specified date).

 

		2.	The Company has performed, satisfied and complied in all
respects with the covenants, agreements and conditions required by the Transaction Documents to be performed, satisfied and complied
with by the Company as of the date hereof.

 

Capitalized terms
used but not otherwise defined herein shall have the meaning set forth in the Agreement.

 

IN WITNESS WHEREOF,
the undersigned has executed this certificate this __th day of October, 2018.

 

	 	      
	 	Name: Or Eisenberg
	 	Title:   Chief Executive Officer

 

    	 	G-2 	 

     

    

 

Exhibit H

 

Form of Lock-Up
Agreement

 

    	 	H-1 	 

     

    

 

WIZE PHARMA,
INC.

 

October __, 2018

 

Wize Pharma, Inc.

24 Hanagar Street

Hod Hasharon 4527708

Israel

		Telephone:	972 (72) 260-0536

		Facsimile:	972 (72) 260-0537

		Attention:	Or Eisenberg

		E-mail:	or@wizepharma.com

 

		Re:	Wize Pharma, Inc. - Lock-Up Agreement

 

Dear Sirs:

 

This Lock-Up Agreement
is being delivered to you in connection with the Securities Purchase Agreement (the “Securities Purchase Agreement”),
dated as of October __, 2018 (the “Subscription Date”) by and among Wize Pharma, Inc. (the “Company”)
and the investors party thereto (the “Buyers”), with respect to the issuance of (i) shares of the Company’s
common stock, par value $0.001 per share (the “Common Stock”), (ii) shares of
the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Preferred Shares”),
which are convertible into shares of Common Stock pursuant to the terms of the Certificate of Designations, Preferences
and Rights of the Preferred Shares and (ii) Series A and Series B warrants (the “Warrants”) which Warrants will
be exercisable to purchase shares of Common Stock. Capitalized terms used herein and not otherwise defined herein shall have the
respective meanings set forth in the Securities Purchase Agreement.

 

In order to induce
the Buyers to enter into the Securities Purchase Agreement, the undersigned agrees that, commencing on the Closing Date and ending
on the date that is the earliest to occur of (w) ninety (90) days following the date that one or more Registration Statement(s)
covering the resale of all Registrable Securities has been effective and available for the re-sale of all such Registrable Securities,
(x) twelve (12) months following the Closing Date, (y) one hundred twenty (120) days following the date the Common Stock is listed
for trading on a Qualified Market and (z) the first Trading Day occurring after the Closing Date as of which the Weighted Average
Price (as defined in the Warrants) of the Common Stock has exceeded $5.00 (as adjusted for stock splits, stock dividends, recapitalizations,
reorganizations, reclassification, combinations, reverse stock splits or other similar events occurring after the date hereof)
on each Trading Day during a ten (10) consecutive Trading Day period occurring after the date that one or more Registration Statement(s)
covering the resale of all Registrable Securities has been effective and available for the re-sale of all such Registrable Securities.
(the “Lock-Up Period”), the undersigned will not, and will cause all affiliates (as defined in Rule 144 promulgated
under the 1933 Act) of the undersigned or any person in privity with the undersigned or any affiliate of the undersigned not to,
(i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase, make any short sale or otherwise
dispose of or agree to dispose of, directly or indirectly, any shares of Common Stock or Common Stock Equivalents, or establish
or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the
Securities Exchange Act of 1934, as amended and the rules and regulations of the Securities and Exchange Commission promulgated
thereunder with respect to any shares of Common Stock or Common Stock Equivalents owned directly by the undersigned (including
holding as a custodian) or with respect to which the undersigned has beneficial ownership within the rules and regulations of the
Securities and Exchange Commission (collectively, the “Undersigned’s Shares”), or (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any
of the Undersigned’s Shares, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery
of shares of Common Stock or other securities, in cash or otherwise, (iii) make any demand for or exercise any right or cause to
be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of Common Stock
or Common Stock Equivalents or (iv) publicly disclose the intention to do any of the foregoing.

 

    	 	H-2 	 

     

    

 

The foregoing
restriction is expressly agreed to preclude the undersigned, and any affiliate of the undersigned and any person in privity with
the undersigned or any affiliate of the undersigned, from engaging in any hedging or other transaction which is designed to or
which reasonably could be expected to lead to or result in a sale or disposition of the Undersigned’s Shares even if the
Undersigned’s Shares would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions
would include, without limitation, any short sale or any purchase, sale or grant of any right (including, without limitation, any
put or call option) with respect to any of the Undersigned’s Shares or with respect to any security that includes, relates
to, or derives any significant part of its value from the Undersigned’s Shares.

 

Notwithstanding
the foregoing, the undersigned may transfer the Undersigned’s Shares (i) as a bona fide gift or gifts, provided that
the donee or donees thereof agree to be bound in writing by the restrictions set forth herein, (ii) to any trust for the direct
or indirect benefit of the undersigned or the immediate family of the undersigned, provided that the trustee of the trust agrees
to be bound in writing by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition
for value, (iii) if the undersigned is a corporation, partnership, limited liability company or other business entity, any transfers
to any shareholder, partner or member of, or owner of a similar equity interest in, the undersigned, as the case may be, if, in
any such case, such transfer is not for value, and provided further each transferee shall sign and deliver to the Company a lock
up agreement substantially in the form of this lock-up agreement and (iv) if the undersigned is a corporation, partnership, limited
liability company or other business entity, any transfer made by the undersigned (a) in connection with the sale or other bona
fide transfer in a single transaction of all or substantially all of the undersigned’s capital stock, partnership interests,
membership interests or other similar equity interests, as the case may be, or all or substantially all of the undersigned’s
assets, in any such case not undertaken for the purpose of avoiding the restrictions imposed by this Lock-Up Agreement or (b) to
another corporation, partnership, limited liability company or other business entity so long as the transferee is an affiliate
(as defined in Rule 12b-2 of the 1934 Act) of the undersigned and such transfer is not for value, and provided in cases (a) and
(b) each transferee shall sign and deliver to the Company a lock up agreement substantially in the form of this lock-up agreement,
and (v) transfers by operation of law or pursuant to an order of a court or regulatory agency. For purposes of this Lock-Up Agreement,
“immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than first cousin. The
undersigned now has, and, except as contemplated by the immediately preceding sentence, for the duration of this Lock-Up Agreement
will have, good and marketable title to the Undersigned’s Shares, free and clear of all liens, encumbrances, and claims whatsoever.
The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent (the
“Transfer Agent”) and registrar against the transfer of the Undersigned’s Shares except in compliance
with the foregoing restrictions.

 

    	 	H-3 	 

     

    

 

No provision in
this Lock-Up Agreement shall be deemed to restrict or prohibit the transfer of the Undersigned’s Shares upon the completion
of a bona fide third-party tender offer, merger, consolidation or other similar transaction made to all holders of the Company’s
securities involving a change of control of the Company (including entering into any lock-up, voting or similar agreement pursuant
to which the undersigned may agree to transfer, sell, tender or otherwise dispose of Common Stock (or any security convertible
into, or exercisable or exchangeable for, Common Stock), or voting any Common Stock in favor of any such transaction or taking
any other action in connection with any such transaction); provided, however, that in the event that such tender offer, merger,
consolidation or other such transaction is not completed, such securities held by the undersigned shall remain subject to the restrictions
on transfer set forth in this Lock-Up Agreement;

 

In order to enforce
this covenant, the Company shall impose irrevocable stop-transfer instructions preventing the Transfer Agent from effecting any
actions in violation of this Lock-Up Agreement.

 

The undersigned
acknowledges that the execution, delivery and performance of this Lock-Up Agreement is a material inducement to each Buyer to complete
the transactions contemplated by the Securities Purchase Agreement and that the Company shall be entitled to specific performance
of the undersigned’s obligations hereunder. The undersigned hereby represents that the undersigned has the power and authority
to execute, deliver and perform this Lock-Up Agreement, that the undersigned has received adequate consideration therefor and that
the undersigned will indirectly benefit from the closing of the transactions contemplated by the Securities Purchase Agreement.

 

The undersigned
understands and agrees that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal
representatives, successors, and assigns.

 

This Lock-Up Agreement
may be executed in two counterparts, each of which shall be deemed an original but both of which shall be considered one and the
same instrument.

 

This Lock-Up Agreement
will be governed by and construed in accordance with the laws of the State of New York, without giving effect to any choice of
law or conflicting provision or rule (whether of the State of New York, or any other jurisdiction) that would cause the laws of
any jurisdiction other than the State of New York to be applied. In furtherance of the foregoing, the internal laws of the State
of New York will control the interpretation and construction of this Lock-Up Agreement, even if under such jurisdiction’s
choice of law or conflict of law analysis, the substantive law of some other jurisdiction would ordinarily apply.

 

This
Lock-Up Agreement shall automatically terminate, and the undersigned shall be released from the undersigned's obligations hereunder,
upon the earliest to occur, if any, of (i) if the Securities Purchase Agreement is not executed by October 31, 2018, or (ii) if
the Securities Purchase Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated
prior to payment for and delivery of the securities to be sold thereunder.

 

[Remainder
of page intentionally left blank]

 

    	 	H-4 	 

     

    

 

	 	Very truly yours,
	 	 
	 	 
	 	Exact Name of Stockholder
	 	 
	 	 
	 	Authorized Signature
	 	 
	 	 
	 	Title

 

Agreed
to and Acknowledged:

 

WIZE
PHARMA, INC.

 

	By:  	           	 
	 	Name:  	 
	 	Title:	 

 

    	 	H-5	 

     

    

 

Disclosure Schedules

 

This
Disclosure Schedule is made and given pursuant to the Securities Purchase Agreement (the “Agreement”), dated
as of October 22, 2018, by and among Wize Pharma, Inc. (the “Company”) and the Buyers party thereto. Capitalized
terms used herein but not defined herein shall have the meanings given to them in the Agreement, unless the context requires otherwise.

 

This
Disclosure Schedule is qualified in its entirety by reference to the specific provisions of the Agreement, and nothing herein is
intended to broaden the scope of any representation or warranty contained in the Agreement.   Any cross-reference to
another section or another item in this Disclosure Schedule shall be deemed to incorporate the information contained in the cross-referenced
section or item into the cross-referencing section. The inclusion of an item in this Disclosure Schedule as an exception to
a representation or warranty shall not be deemed an admission by any party, as applicable, that such item represents an exception
or material fact, event or circumstance or that such item constitutes a Material Adverse Effect. 

 

References
to any document herein do not purport to be complete and are qualified in their entirety by the document itself.  The headings
of this Disclosure Schedule are inserted for convenience only and shall not create a different standard for disclosure than the
language set forth in the Agreement. 

 

Schedule 3(a)Subsidiaries

 

Wize Pharma Ltd.
(Israeli corporation)

Ocu Wize Ltd.
(wholly owned by Wize Pharma Ltd.; Israeli corporation) (“Wize Israel”)

 

Schedule 3(j)SEC
Documents

 

None.

 

Schedule 3(k)Absence
of Certain Changes

 

None.

 

Schedule 3(m)Regulatory
Permits

 

None.

 

Schedule 3(o)Transactions
with Affiliates

 

As disclosed in
the Company’s 10-K for the year ended 12/31/2017:

 

On January 15,
2017, Wize Israel entered into the 2017 Loan Agreement with Ridge Valley Corporation (“Ridge”). Prior to entering into
the 2017 Loan Agreement, Wize Israel entered into the following three loans with Ridge, (1) NIS 250,000 was extended in November
2016, (2) NIS 300,000 was extended in December 2016 and (3) NIS 200,000 was extended in February 2017.

 

    	 	H-6	 

     

    

 

Mr. Noam Danenberg,
the Company’s Chief Operating Officer and Wize Israel’s strategic advisor, is also the son-in-law of Mrs. Hanna Harpaz,
who owns 49% of Ridge.

 

On June 19, 2017,
Wize Israel entered into a finder’s fee agreement with Harbin Israel (Trading) Ltd., an affiliate of Joseph. Zarzewsky, a
director of the Company, pursuant to which Mr. Zarzewsky will receive a 5% royalty on all of Wize Israel’s revenues to the
extent such revenues are earned from relationships initiated by Mr. Zarzewsky and agreed to by Wize Israel.

 

Schedule 3(p)Equity
Capitalization

 

3(p)(i):

 

None

 

3(p)(ii):

 

Convertible Loan
issued pursuant to convertible loan agreement, entered into on March 30, 2016, as amended (the “2016 Loan Agreement), with
a conversion price of $0.9768, in the principal amount of $531,067, with a maturity date (the “2016 Loan Agreement Maturity
Date”) of the earliest of (i) 90 days following the date that the Registration Statement covering the resale of all Registrable
Securities (of Buyers who are not a party to the last amendment (or affiliates of a party to the such amendment) to the 2016 Loan
Agreement) has been effective and available for the re-sale of such Registrable Securities, (ii) 90 days following the date on
which all securities issued to Buyers under the Agreement are no longer Registrable Securities, and (iii) one year following the
Closing) (for a total of up to 605,298 shares including accrued interest through the maturity date).

 

Convertible Loan
issued pursuant to convertible loan agreement, entered into on January 15, 2017, as amended (the “2017 Loan Agreement”),
with a conversion price of $1.1112 in the principal amount of $822,143, with maturity date (the “2017 Loan Agreement Maturity
Date”) of the earliest of (i) 90 days following the date that the Registration Statement covering the resale of all Registrable
Securities (of Buyers who are not a party to the last amendment (or affiliates of a party to the such amendment) to the 2017 Loan
Agreement) has been effective and available for the re-sale of such Registrable Securities, (ii) 90 days following the date on
which all securities issued to Buyers under the Agreement are no longer Registrable Securities, and (iii) one year following the
Closing) (for a total of up to 791,907 shares, including accrued interest through the maturity date).

 

759,871 warrants
to purchase common stock with exercise price of $1.9728 and a term of three years from the date of issuance (November 16, 2017).

 

    	 	H-7	 

     

    

 

229,500 options
to purchase common stock with exercise price of $3.59. The options are exercisable in twelve equal installments over the three
year period from the date of grant and have a term of seven years from the date of grant (April 4, 2018).

 

4,352 options
to purchase common stock with an exercise price of $159.12. These options were granted on July 1, 2013 and have all vested.

 

544 options to
purchase common stock with an exercise price of $216.00. These options were granted on May 9, 2013 and have all vested.

 

25,500 options
to purchase common stock with an exercise price of $4.50, issued pursuant to consulting agreement, dated August 15, 2018, between
the Company and Ellen Lubman. The options will be exercisable in twelve equal installments over the three year period from the
date of grant and have a term of seven years from the date of grant (August 15, 2018).

6,945 shares of
common stock to be issued on October 1, 2018 to Corporate Profile LLC, as final of three tranche of shares issuable pursuant to
letter agreement, dated February 1, 2018, between the Company and Corporate Profile LLC, for investor relations services.

 

Under the 2016
Loan Agreement, as modified by the 2017 Loan Agreement, Rimon Gold has the right, until 180 days after the 2016 Loan Agreement
Maturity Date, to invest up to $512,808, in the aggregate, at a price per share of $1.308 (for a total up to 392,055 shares),

 

Under the 2017
Loan Agreement, the lenders thereunder, have the right until 180 days after the 2017 Loan Agreement Maturity Date, to invest up
to $663,447, in the aggregate, at a price per share of $1.332, for a total of up to 498,083 shares.

 

Under the MCI
Agreement, in the event the Company has engaged a registered FINRA broker-dealer and executes any transaction during the term of
this agreement, and if warrants are issued in the transaction, then the Company will be required to issue to Mesodi $20,000 worth
of warrants to purchase additional shares of the Company for every $1,000,000 raised in the transaction (or any pro rata portion
thereof), which will be exercisable at the same terms as those in the transaction.

 

    	 	H-8	 

     

    

 

3(p)(iii):

 

Convertible Loan
issued pursuant to the 2016 Loan Agreement, with a conversion price of $0.9768, in the principal amount of $531,067, with a maturity
date of the 2016 Loan Agreement Maturity Date

 

Convertible Loan
issued pursuant to the 2017 Loan Agreement, with a conversion price of $1.1112, in the principal amount of $822,143, with maturity
date of the 2017 Loan Agreement Maturity Date. .

 

3(p)(iv):

 

None.

 

3(p(v):

 

The Company granted
registration rights to use commercially reasonable efforts to register shares by March 31, 2018 pursuant to agreement with Mesodi
dated January 2018.

 

Letter Agreement,
dated May 25, 2018, between the Company and the Placement Agent, and placement agency agreement between the Company and the Placement
Agent. Pursuant to these agreements, the Company will be required to issue to the Placement Agent or its designees, upon Closing,
warrants to purchase 6% of the number of shares sold in the offering, which will have the same terms as the warrants issued to
the Buyers, including exercise price and registration rights.

 

3(p)(vi):

 

None.

 

3(p)(vii):

 

None.

 

3(p(viii):

 

None.

 

Section 3(p)(ix):

 

None.

 

Schedule 3(q)Indebtedness
and Other Contracts

 

Schedule 3(q)(i):

 

Convertible Loan
issued pursuant to the 2016 Loan Agreement, with a conversion price of $0.9768, in the principal amount of $531,067, with a maturity
date of the 2016 Loan Agreement Maturity Date.

 

Convertible Loan
issued pursuant to the 2017 Loan Agreement, with a conversion price of $1.1112, in the principal amount of $822,143, with maturity
date of the 2017 Loan Agreement Maturity Date.

 

Schedule 3(q)(ii):

 

None.

 

    	 	H-9	 

     

    

 

Schedule 3(q)(iii):

 

None.

 

Section 3(q)(iv):

 

None.

 

Schedule 3(r)Absence
of Litigation

 

To the Company’s
knowledge, the Israel Securities Authority (the “ISA”) is conducting an administrative inquiry regarding Wize Israel’s
public reports with the ISA in Israel regarding its applicable regulatory path necessary for the marketing of LO2A for the treatment
of DES in the United States. As part of the inquiry, the ISA requested Wize Israel to provide certain documentation and has
also questioned its officers with respect to such reports. Wize Israel and its officers cooperated with the ISA and, at the ISA’s
request, Wize Israel also publicly filed a supplemental report to provide additional information in connection with the said regulatory
path and marketing plans, which the Company believes contained all the required information. The Company was recently informed
(orally) that the ISA intends to commence administrative enforcement proceedings against Wize Israel and two of its officers (who
are the Company's Chairman and CEO) in connection with the foregoing reports, pending a possible hearing with the ISA staff. While
the Company does not believe the ISA position has any merits, it intends, to the extent deemed advisable and cost-effective, to
have the hearing held, and pursue a settlement of the matter.

 

Schedule 3(v)
Intellectual Property Rights

 

Schedule 3(v)(i):

 

The use of LO2A
for treating or alleviating CCH under US Patent No. 8,912,166 has been granted to us under the LO2A License Agreement. These licensed
patents consist of:

 

The use of LO2A
for treating or alleviating CCH is protected by the patent family of International Patent Application Publ. No. WO2012150583, filed
on April 5, 2012, assigned to Resdevco, entitled EYE DROPS FOR TREATMENT OF CONJUNCTIVOCHALASIS. Corresponding members include
US Patent No. 8,912,166, Israeli Patent No. 212725, Japanese Patent No. 5957517 and pending European Pat. Appl. 2704747. The use
of LO2A for treating or alleviating irritation of the eye caused non-infectious diseases, such as Sjögren’s, is covered
by Provisional Patent Application No. 62/467139, filed on March 5, 2017, assigned to Resdevco, entitled EYE DROPS FOR TREATMENT
OF IRRITATION NOT DUE TO INFECTION.

 

Section 3(v)(ii):

 

The LO2A composition
and use thereof for treating or alleviating DES was covered by US Patent No. 5,106,615, which has expired.

 

    	 	H-10	 

     

    

 

Schedule 4(o)Excluded
Securities Existing Agreements

  

Letter of engagement
with Mesodi, dated January 2018: Under the MCI Agreement, in the event the Company has engaged a registered FINRA broker-dealer
and executes any transaction during the term of this agreement, and if warrants are issued in the transaction, then the Company
will be required to issue to Mesodi $20,000 worth of warrants to purchase additional shares of the Company for every $1,000,000
raised in the transaction (or any pro rata portion thereof), which will be exercisable at the same terms as those in the transaction.

 

Letter Agreement,
dated February 1, 2018, between the Company and Corporate Profile LLC: Under this agreement, the Company will be required to issue
Corporate Profile LLC, 6,945 shares of common stock on October 1, 2018, as final of three tranche of shares issuable thereunder
for investor relations services.

 

Under the 2016
Loan Agreement, as modified by the 2017 Loan Agreement, Rimon Gold has the right, until 180 days after the 2016 Loan Agreement
Maturity Date, to invest up to $512,808, in the aggregate, at a price per share of $1.308 (for a total up to 392,055 shares); provided,
that any securities to be issued pursuant to the above agreement, in order to be considered to be Excluded Securities, must be
issued as “restricted securities” (as defined in Rule 144) and carry no registration rights that require or permit
the filing of any registration statement in connection therewith during the prohibition period in Section 4(o)(ii).

 

Under the 2017
Loan Agreement, the lenders thereunder, have the right until 180 days after the 2017 Loan Agreement Maturity Date, to invest up
to $663,447, in the aggregate, at a price per share of $1.332, for a total of up to 498,083 shares; provided, that any securities
to be issued pursuant to the above agreement, in order to be considered to be Excluded Securities, must be issued as “restricted
securities” (as defined in Rule 144) and carry no registration rights that require or permit the filing of any registration
statement in connection therewith during the prohibition period in Section 4(o)(ii).

 

Letter Agreement,
dated May 25, 2018, between the Company and the Placement Agent, and placement agency agreement between the Company and the Placement
Agent. Pursuant to these agreements, the Company will be required to issue to the Placement Agent or its designees, upon Closing,
warrants to purchase 6% of the number of shares sold in the offering, which will have the same terms as the warrants issued to
the Buyers, including exercise price and registration rights.

 

Schedule 7(xi)Lock-Up
Parties

 

Can-Fite BioPharma
Ltd.

Ridge Valley Corporation

Yaakov Zarachia

Simcha Sadan

Or Eisenberg

Noam Danenberg

Ron Mayron

Yossi Keret

Franck Amouyal

Joseph Zarzewsky

Michael Belkin

 

    	 	H-11Exhibit 10.2

 

[FORM
OF [SERIES A][SERIES B] WARRANT]

 

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

 

WIZE
PHARMA, INC.

 

Warrant
To Purchase Common Stock

 

Warrant
No.:                         

Number
of Shares of Common Stock:_____________

Date
of Issuance: October 23, 2018 (“Issuance Date”)

 

Wize
Pharma, Inc., a Delaware corporation (the “Company”), hereby certifies that, for good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, [BUYER], the registered
holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to
purchase from the Company, at the Exercise Price (as defined below) then in effect, at any time or times on or after the Issuance
Date, but not after 11:59 p.m., New York time, on the Expiration Date, (as defined below), ______________ (_____________)1
fully paid nonassessable shares of Common Stock, subject to adjustment as provided herein (the “Warrant Shares”).
Except as otherwise defined herein, capitalized terms in this Warrant to Purchase Common Stock (including any Warrants to Purchase
Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”), shall have the meanings set
forth in Section 17. This Warrant is one of the Warrants to purchase Common Stock (the “SPA Warrants”) issued
pursuant to Section 1 of that certain Securities Purchase Agreement, dated as of October 22, 2018 (the “Subscription
Date”), by and among the Company and the investors (the “Buyers”) referred to therein (the “Securities
Purchase Agreement”). Capitalized terms used herein and not otherwise defined shall have the definitions ascribed to
such terms in the Securities Purchase Agreement.

 

 

1
Insert 100% of the sum of (i) the number of shares of Common Stock and (ii) the number of shares of Common Stock issuable
upon conversion in full (without giving effect to any limitation set forth in the Certificate of Designations (as defined in the
Securities Purchase Agreement)) of the Preferred Shares (as defined in the Securities Purchase Agreement), if any, in each case,
purchased by the Holder pursuant to the Securities Purchase Agreement.

 

     

     

    

 

1.
EXERCISE OF WARRANT.

 

(a)
Mechanics of Exercise. Subject to the terms and conditions hereof (including, without limitation, the limitations set forth
in Section 1(f)), this Warrant may be exercised by the Holder at any time or times on or after the Issuance Date, in whole or
in part, by (i) delivery of a written notice, in the form attached hereto as Exhibit A (the “Exercise Notice”),
of the Holder’s election to exercise this Warrant and (ii) (A) payment to the Company of an amount equal to the applicable
Exercise Price multiplied by the number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate
Exercise Price”) in cash by wire transfer of immediately available funds or (B) if the provisions of Section 1(d) are
applicable, by notifying the Company that this Warrant is being exercised pursuant to a Cashless Exercise (as defined in Section
1(d)). No ink-original Exercise Notice shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization)
of any Exercise Notice be required. The Holder shall not be required to deliver the original Warrant in order to effect an exercise
hereunder; provided, that upon the exercise in full of this Warrant, the Holder shall, within five (5) Trading Days, return
the original Warrant to the Company. Execution and delivery of the Exercise Notice with respect to less than all of the Warrant
Shares shall have the same effect as cancellation of the original Warrant and issuance of a new Warrant evidencing the right to
purchase the remaining number of Warrant Shares. On or before the first (1st) Trading Day following the date on which
the Holder has delivered an Exercise Notice to the Company, the Company shall transmit by facsimile or electronic mail an acknowledgment
of confirmation of receipt of the Exercise Notice to the Holder and, to the extent that the Company is obligated to cause Warrant
Shares to be delivered to the Holder through the Deposit / Withdrawal At Custodian system in accordance with this Section 1(a),
the Company’s transfer agent (the “Transfer Agent”). On or before the earlier of (i) the second (2nd)
Trading Day and (ii) the number of Trading Days comprising the Standard Settlement Period, in each case, following the date on
which the Holder has delivered the Exercise Notice to the Company, so long as the Holder delivers the Aggregate Exercise Price
(or notice of a Cashless Exercise) on or prior to the first (1st) Trading Day following the date on which the Holder
has delivered the Exercise Notice to the Company (a “Share Delivery Date”) (provided that if the Aggregate
Exercise Price has not been delivered by such date, the applicable Share Delivery Date shall be one (1) Trading Day after the
Aggregate Exercise Price (or notice of a Cashless Exercise) is delivered), the Company shall (X) provided that the Company’s
Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer
Program and (A) the Warrant Shares are subject to an effective resale registration statement
in favor of the Holder or (B) if exercised via Cashless Exercise, at a time when Rule 144 would be available for immediate resale
of the Warrant Shares by the Holder, credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant
to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal At Custodian
system, or (Y) if (A) the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program or
(B) the Warrant Shares are not subject to an effective resale registration statement in favor of the Holder and, if exercised
via Cashless Exercise, at a time when Rule 144 would not be available for immediate resale of the Warrant Shares by the Holder,
issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s
share register in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder is entitled pursuant
to such exercise. The Company shall be responsible for all fees and expenses of the Transfer Agent and all fees and expenses with
respect to the issuance of Warrant Shares via DTC, if any, including without limitation for same day processing. Upon delivery
of the Exercise Notice (so long as the Aggregate Exercise Price is delivered to the Company within one (1) Trading Day following
the delivery of such Exercise Notice), the Holder shall be deemed for all corporate purposes to have become the holder of record
of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date such Warrant Shares are
credited to the Holder’s DTC account or the date of delivery of the certificates evidencing such Warrant Shares, as the
case may be. If the Company fails for any reason to deliver to the Holder the Warrant Shares subject to an Exercise Notice by
the Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000
of Warrant Shares subject to such exercise (based on the Weighted Average Price of the Common Stock on the date of the applicable
Exercise Notice), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages
begin to accrue) for each Trading Day after such Share Delivery Date until such Warrant Shares are delivered or Holder rescinds
such exercise. If this original Warrant is returned to the Company in connection with any exercise pursuant to this Section 1(a)
and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of Warrant Shares
being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than three (3) Trading Days
after any exercise and at its own expense, issue a new Warrant (in accordance with Section 7(d)) representing the right to purchase
the number of Warrant Shares issuable immediately prior to such exercise under this Warrant, less the number of Warrant Shares
with respect to which this Warrant is exercised. No fractional Warrant Shares are to be issued upon the exercise of this Warrant,
but rather the number of Warrant Shares to be issued shall be rounded up to the nearest whole number. The Company shall pay any
and all taxes which may be payable with respect to the issuance and delivery of Warrant Shares upon exercise of this Warrant.
The Company’s obligations to issue and deliver Warrant Shares in accordance with the terms and subject to the conditions
hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or
consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same,
or any setoff, counterclaim, recoupment, limitation or termination.

 

    2

     

    

 

(b)
Exercise Price. For purposes of this Warrant, “Exercise Price” means [Insert in Series A Warrant: $1.10]
[Insert in Series B Warrant: $1.00], subject to adjustment as provided herein.

 

(c)
Company’s Failure to Timely Deliver Securities. If the Company either (I) shall fail for any reason or for no reason
to deliver or cause the Transfer Agent to deliver to the Holder the Warrant Shares in accordance with the provisions of Section
1(a) above on or before the applicable Share Delivery Date or (II) if the Registration Statement (as defined in the Registration
Rights Agreement) covering the resale of the Warrant Shares that are the subject of the Exercise Notice (the “Unavailable
Warrant Shares”) is not available for the resale of such Unavailable Warrant Shares and the Company fails (x) to so
notify the Holder by the deadline set forth in the Registration Rights Agreement and (y) to deliver the Warrant Shares electronically
without any restrictive legend by crediting such aggregate number of Warrant Shares to which the Holder is entitled pursuant to
such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit / Withdrawal At Custodian
system on or prior to the Share Delivery Date (the event described in the immediately foregoing clause (II) is hereinafter referred
as a “Notice Failure” and together with the event described in clause (I) above, an “Exercise Failure”),
then, in addition to all other remedies available to the Holder, (X) the Company shall pay in cash to the Holder on each day after
the applicable Share Delivery Date and during such Exercise Failure an amount equal to 1.5% of the product of (A) the sum of the
number of shares of Common Stock not issued to the Holder on or prior to the Share Delivery Date and to which the Holder is entitled,
and (B) any trading price of the Common Stock selected by the Holder in writing as in effect at any time during the period beginning
on the date of delivery of the applicable Exercise Notice and ending on the applicable Share Delivery Date, and (Y) the Holder,
upon written notice to the Company, may void its Exercise Notice with respect to, and retain or have returned, as the case may
be, any portion of this Warrant that has not been exercised pursuant to such Exercise Notice; provided that the voiding of an
Exercise Notice shall not affect the Company’s obligations to make any payments which have accrued prior to the date of
such notice pursuant to this Section 1(c) or otherwise. In addition to the foregoing, if on or prior to the applicable Share Delivery
Date either (I) the Company fails to deliver or cause the Transfer Agent to deliver to the Holder the Warrant Shares in accordance
with the provisions of Section 1(a) above or (II) a Notice Failure occurs, and if on or after such Trading Day the Holder purchases
(in an open market transaction or otherwise) shares of Common Stock relating to the applicable Exercise Failure (a “Buy-In”),
then the Company shall, within three (3) Trading Days after the Holder’s request and in the Holder’s discretion, either
(i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions and
other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (the “Buy-In Price”), at
which point the Company’s obligation to deliver such certificate (and to issue such shares of Common Stock) or credit the
Holder’s balance account with DTC for such shares of Common Stock shall terminate, or (ii) promptly honor its obligation
to deliver to the Holder a certificate or certificates representing such shares of Common Stock or credit the Holder’s balance
account with DTC, as applicable, and pay cash to the Holder in an amount equal to the excess (if any) of the Buy-In Price over
the product of (A) such number of shares of Common Stock, times (B) any trading price of the Common Stock selected by the Holder
in writing as in effect at any time during the period beginning on the date of delivery of the applicable Exercise Notice and
ending on the applicable Share Delivery Date. Nothing herein shall limit the Holder’s right to pursue any other remedies
available to it hereunder, at law or in equity, including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock (or to electronically
deliver such shares of Common Stock) upon the exercise of this Warrant as required pursuant to the terms hereof.

 

    3

     

    

 

(d)
Cashless Exercise. Notwithstanding anything contained herein to the contrary, if on or after April 23, 2019,2
the Registration Statement covering the resale of the Unavailable Warrant Shares is not available for the resale of such Unavailable
Warrant Shares, the Holder may, in its sole discretion, exercise this Warrant in whole or in part and, in lieu of making the cash
payment otherwise contemplated to be made to the Company upon such exercise in payment of the Aggregate Exercise Price, elect
instead to receive upon such exercise the “Net Number” of shares of Common Stock determined according to the following
formula (a “Cashless Exercise”):

 

Net
Number = (A x B) - (A x C)

                                      B

 

For
purposes of the foregoing formula:

 

A=
the total number of shares with respect to which this Warrant is then being exercised.

 

B=
as applicable: (i) the Weighted Average Price of the Common Stock on the Trading Day immediately preceding the date of the applicable
Exercise Notice if such Exercise Notice is (1) both executed and delivered pursuant to Section 1(a) hereof on a day that is not
a Trading Day or (2) both executed and delivered pursuant to Section 1(a) hereof on a Trading Day prior to the opening of “regular
trading hours” (as defined in Rule 600(b)(64) of Regulation NMS promulgated under the federal securities laws) on such Trading
Day, (ii) at the option of the Holder, either (x) the Weighted Average Price of the Common Stock on the Trading Day immediately
preceding the date of the applicable Exercise Notice, or (y) the Bid Price of the Common Stock on the principal trading market
as reported by Bloomberg as of the time of the Holder’s execution of the applicable Exercise Notice if such Exercise Notice
is executed during “regular trading hours” on a Trading Day and is delivered within two (2) hours thereafter (including
until two (2) hours after the close of “regular trading hours” on a Trading Day) thereafter pursuant to Section 1(a)
hereof or (iii) the Weighted Average Price of the Common Stock on the date of the applicable Exercise Notice if the date of such
Exercise Notice is a Trading Day and such Exercise Notice is both executed and delivered pursuant to Section 1(a) hereof after
the close of “regular trading hours” on such Trading Day.

 

C=
the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.

 

For
purposes of Rule 144(d) promulgated under the 1933 Act, as in effect on the date hereof, the Company hereby acknowledges and agrees
that the Warrant Shares issued in a Cashless Exercise shall be deemed to have been acquired by the Holder, and the holding period
for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Securities
Purchase Agreement. The Company agrees not to take any position contrary to this Section 1(d).

 

(e)
Disputes. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant
Shares, the Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute
in accordance with Section 12.

 

 

2
Insert the date that is six (6) months immediately following the Issuance Date.

 

    4

     

    

 

(f)
Beneficial Ownership Limitations on Exercises. Notwithstanding anything to the contrary contained herein, the Company shall
not effect the exercise of any portion of this Warrant, and the Holder shall not have the right to exercise any portion of this
Warrant, pursuant to the terms and conditions of this Warrant and any such exercise shall be null and void and treated as if never
made, to the extent that after giving effect to such exercise, the Holder together with the other Attribution Parties collectively
would beneficially own in excess of [4.99] [9.99]% (the “Maximum Percentage”) of the number of shares of Common
Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number
of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall include the number of shares
of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which the determination of such sentence is being made, but shall exclude the number of shares
of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially owned
by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion
of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or
warrants, including the other SPA Warrants) beneficially owned by the Holder or any other Attribution Party subject to a limitation
on conversion or exercise analogous to the limitation contained in this Section 1(f). For purposes of this Section 1(f), beneficial
ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “1934
Act”). For purposes of determining the number of outstanding shares of Common Stock the Holder may acquire upon the
exercise of this Warrant without exceeding the Maximum Percentage, the Holder may rely on the number of outstanding shares of
Common Stock as reflected in (x) the Company’s most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current
Report on Form 8-K or other public filing with the Securities and Exchange Commission (the “SEC”), as the case
may be, (y) a more recent public announcement by the Company or (3) any other written notice by the Company or the Transfer Agent
setting forth the number of shares of Common Stock outstanding (the “Reported Outstanding Share Number”). If
the Company receives an Exercise Notice from the Holder at a time when the actual number of outstanding shares of Common Stock
is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing of the number of shares
of Common Stock then outstanding and, to the extent that such Exercise Notice would otherwise cause the Holder’s beneficial
ownership, as determined pursuant to this Section 1(f), to exceed the Maximum Percentage, the Holder must notify the Company of
a reduced number of Warrant Shares to be purchased pursuant to such Exercise Notice (the number of shares by which such purchase
is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable, the Company shall return to
the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the written or oral
request of the Holder, the Company shall within one (1) Trading Day confirm orally and in writing or by electronic mail to the
Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall
be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder
and any other Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the event that
the issuance of shares of Common Stock to the Holder upon exercise of this Warrant results in the Holder and the other Attribution
Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares
of Common Stock (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which the Holder’s
and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”)
shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer
the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, the
Company shall return to the Holder the exercise price paid by the Holder for the Excess Shares. Upon delivery of a written notice
to the Company, the Holder may from time to time increase or decrease the Maximum Percentage to any other percentage not in excess
of 9.99% as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until
the sixty-first (61st) day after such notice is delivered to the Company and (ii) any such increase or decrease will
apply only to the Holder and the other Attribution Parties and not to any other holder of SPA Warrants that is not an Attribution
Party of the Holder. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess
of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose including for purposes of
Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall
have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability.
The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms
of this Section 1(f) to the extent necessary to correct this paragraph or any portion of this paragraph which may be defective
or inconsistent with the intended beneficial ownership limitation contained in this Section 1(f) or to make changes or supplements
necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived
and shall apply to a successor holder of this Warrant.

 

    5

     

    

 

(g)
Insufficient Authorized Shares. If at any time while this Warrant remains outstanding the Company does not have a sufficient
number of authorized and unreserved shares of Common Stock to satisfy its obligation to reserve for issuance upon exercise of
this Warrant at least a number of shares of Common Stock equal to the number of shares of Common Stock as shall from time to time
be necessary to effect the exercise of all of this Warrant then outstanding (the “Required Reserve Amount”
and the failure to have such sufficient number of authorized and unreserved shares of Common Stock, an “Authorized Share
Failure”), then the Company shall as soon as reasonably practicable take all action necessary to increase the Company’s
authorized shares of Common Stock to an amount sufficient to allow the Company to reserve the Required Reserve Amount for this
Warrant then outstanding. Without limiting the generality of the foregoing sentence, as soon as practicable after the date of
the occurrence of an Authorized Share Failure, but in no event later than sixty (60) days after the occurrence of such Authorized
Share Failure, the Company shall hold a meeting of its stockholders for the approval of an increase in the number of authorized
shares of Common Stock. In connection with such meeting, the Company shall provide each stockholder with a proxy statement and
shall use its best efforts to solicit its stockholders’ approval of such increase in authorized shares of Common Stock and
to cause its board of directors to recommend to the stockholders that they approve such proposal. Notwithstanding the foregoing,
if at any such time of an Authorized Share Failure, the Company is able to obtain the written consent of a majority of the shares
of its issued and outstanding Common Stock to approve the increase in the number of authorized shares of Common Stock, the Company
may satisfy this obligation by obtaining such consent and submitting for filing with the SEC an Information Statement on Schedule
14C. In the event that upon any exercise of this Warrant, the Company does not have sufficient authorized shares to deliver in
satisfaction of such exercise, then unless the Holder elects to void such attempted exercise, the Holder may require the Company
to pay to the Holder within three (3) Trading Days of the applicable exercise, cash in an amount equal to the product of (i) the
number of Warrant Shares that the Company is unable to deliver pursuant to this Section 1(g), and (ii) the greater of (x) zero
and (y) the difference between (I) the highest Weighted Average Price during the period beginning on the date of the applicable
date of exercise and the date that the Company makes the applicable cash payment and (II) the lowest Exercise Price in existence
during such period.

 

    6

     

    

 

2.
ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES. The Exercise Price and the number of Warrant Shares shall be
adjusted from time to time as follows:

 

(a)
Adjustment Upon Issuance of Shares of Common Stock. If and whenever after the Subscription Date until the Trading Day immediately
following the date that the Company has raised, beginning after the Issue Date, at least $10 million in gross proceeds from the
issuance of the Company’s securities, including through the exercise of warrants, the Company issues or sells, or in accordance
with this Section 2 is deemed to have issued or sold, any shares of Common Stock (including the issuance or sale of shares of
Common Stock owned or held by or for the account of the Company, but excluding shares of Common Stock deemed to have been issued
or sold by the Company in connection with any Excluded Securities) for a consideration per share (the “New Issuance Price”)
less than a price (the “Applicable Price”) equal to the Exercise Price in effect immediately prior to such
issue or sale or deemed issuance or sale (the foregoing a “Dilutive Issuance”), then immediately after such
Dilutive Issuance, the Exercise Price then in effect shall be reduced to an amount equal to the New Issuance Price. For purposes
of determining the adjusted Exercise Price under this Section 2(a), the following shall be applicable:

 

(i)
Issuance of Options. If the Company in any manner grants or sells any Options and the lowest price per share for which
one share of Common Stock is issuable upon the exercise of any such Option or upon conversion, exercise or exchange of any Convertible
Securities issuable upon exercise of any such Option is less than the Applicable Price, then such share of Common Stock shall
be deemed to be outstanding and to have been issued and sold by the Company at the time of the granting or sale of such Option
for such price per share. For purposes of this Section 2(a)(i), the “lowest price per share for which one share of Common
Stock is issuable upon the exercise of any such Option or upon conversion, exercise or exchange of any Convertible Securities
issuable upon exercise of any such Option” shall be equal to the sum of the lowest amounts of consideration (if any) received
or receivable by the Company with respect to any one share of Common Stock upon the granting or sale of the Option, upon exercise
of the Option and upon conversion, exercise or exchange of any Convertible Security issuable upon exercise of such Option less
any consideration paid or payable by the Company with respect to such one share of Common Stock upon the granting or sale of such
Option, upon exercise of such Option and upon conversion exercise or exchange of any Convertible Security issuable upon exercise
of such Option. No further adjustment of the Exercise Price shall be made upon the actual issuance of such shares of Common Stock
or of such Convertible Securities upon the exercise of such Options or upon the actual issuance of such shares of Common Stock
upon conversion, exercise or exchange of such Convertible Securities.

 

    7

     

    

 

(ii)
Issuance of Convertible Securities. If the Company in any manner issues or sells any Convertible Securities and the lowest
price per share for which one share of Common Stock is issuable upon the conversion, exercise or exchange thereof is less than
the Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by the
Company at the time of the issuance or sale of such Convertible Securities for such price per share. For the purposes of this
Section 2(a)(ii), the “lowest price per share for which one share of Common Stock is issuable upon the conversion, exercise
or exchange thereof” shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable by
the Company with respect to any one share of Common Stock upon the issuance or sale of the Convertible Security and upon conversion,
exercise or exchange of such Convertible Security less any consideration paid or payable by the Company with respect to such one
share of Common Stock upon the issuance or sale of such Convertible Security and upon conversion, exercise or exchange of such
Convertible Security. No further adjustment of the Exercise Price shall be made upon the actual issuance of such shares of Common
Stock upon conversion, exercise or exchange of such Convertible Securities, and if any such issue or sale of such Convertible
Securities is made upon exercise of any Options for which adjustment of this Warrant has been or is to be made pursuant to other
provisions of this Section 2(a), no further adjustment of the Exercise Price shall be made by reason of such issue or sale.

 

(iii)
Change in Option Price or Rate of Conversion. If the purchase price provided for in any Options, the additional consideration,
if any, payable upon the issue, conversion, exercise or exchange of any Convertible Securities, or the rate at which any Convertible
Securities are convertible into or exercisable or exchangeable for shares of Common Stock increases or decreases at any time,
the Exercise Price in effect at the time of such increase or decrease shall be adjusted to the Exercise Price, which would have
been in effect at such time had such Options or Convertible Securities provided for such increased or decreased purchase price,
additional consideration or increased or decreased conversion rate, as the case may be, at the time initially granted, issued
or sold. For purposes of this Section 2(a)(iii), if the terms of any Option or Convertible Security that was outstanding as of
the Subscription Date are increased or decreased in the manner described in the immediately preceding sentence, then such Option
or Convertible Security and the shares of Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be
deemed to have been issued as of the date of such increase or decrease. No adjustment pursuant to this Section 2(a) shall be made
if such adjustment would result in an increase of the Exercise Price then in effect.

 

    8

     

    

 

(iv)
Calculation of Consideration Received. In case any Option is issued in connection with the issue or sale of other securities
of the Company (which may include other Options), together comprising one integrated transaction, (x) the Options will be deemed
to have been issued for the Option Value of such Options and (y) the other securities issued or sold in such integrated transaction
shall be deemed to have been issued or sold for the difference of (I) the aggregate consideration received by the Company less
any consideration paid or payable by the Company pursuant to the terms of such other securities of the Company, less (II) the
Option Value of such Options. If any shares of Common Stock, Options or Convertible Securities are issued or sold or deemed to
have been issued or sold for cash, the consideration other than cash received therefor will be deemed to be the net amount received
by the Company therefor. If any shares of Common Stock, Options or Convertible Securities are issued or sold for a consideration
other than cash, the amount of such consideration received by the Company will be the fair value of such consideration, except
where such consideration consists of publicly traded securities, in which case the amount of consideration received by the Company
will be the Closing Sale Price of such publicly traded securities on the date of receipt of such publicly traded securities. If
any shares of Common Stock, Options or Convertible Securities are issued to the owners of the non-surviving entity in connection
with any merger in which the Company is the surviving entity, the amount of consideration therefor will be deemed to be the fair
value of such portion of the net assets and business of the non-surviving entity as is attributable to such shares of Common Stock,
Options or Convertible Securities, as the case may be. The fair value of any consideration other than cash or publicly traded
securities will be determined jointly by the Company and the Required Holders. If such parties are unable to reach agreement within
ten (10) days after the occurrence of an event requiring valuation (the “Valuation Event”), the fair value
of such consideration will be determined within five (5) Business Days after the tenth (10th) day following the Valuation
Event by an independent, reputable appraiser jointly selected by the Company and the Required Holders. The determination of such
appraiser shall be final and binding upon all parties absent manifest error and the fees and expenses of such appraiser shall
be borne by the Company. Notwithstanding anything to the contrary contained herein, if a calculation pursuant to this Section
2(a)(iv) would result in an Exercise Price that is lower than the par value of the Common Stock, then the Exercise Price shall
be deemed to equal the par value of the Common Stock.

 

(v)
Record Date. If the Company takes a record of the holders of shares of Common Stock for the purpose of entitling them (A) to
receive a dividend or other distribution payable in shares of Common Stock, Options or in Convertible Securities or (B) to
subscribe for or purchase shares of Common Stock, Options or Convertible Securities, then such record date will be deemed to be
the date of the issue or sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend
or the making of such other distribution or the date of the granting of such right of subscription or purchase, as the case may
be.

 

(vi)
No Readjustments. For the avoidance of doubt, in the event the Exercise Price has been adjusted pursuant to this Section
2(a) and the Dilutive Issuance that triggered such adjustment does not occur, is not consummated, is unwound or is cancelled after
the facts for any reason whatsoever, in no event shall the Exercise Price be readjusted to the Exercise Price that would have
been in effect if such Dilutive Issuance had not occurred or been consummated.

 

    9

     

    

 

(b)
Adjustment Upon Subdivision or Combination of Shares of Common Stock. If the Company at any time on or after the Subscription
Date subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares
of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately
reduced and the number of Warrant Shares will be proportionately increased. If the Company at any time on or after the Subscription
Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common Stock
into a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately increased
and the number of Warrant Shares will be proportionately decreased. Any adjustment under this Section 2(a) shall become effective
at the close of business on the date the subdivision or combination becomes effective.

 

(c)
Voluntary Adjustment By Company. The Company may at any time during the term of this Warrant, with the prior written consent
of the Required Holders, reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by
the Board of Directors of the Company.

 

(d)
Other Events. If any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided
for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other
rights with equity features), then the Company’s Board of Directors will make an appropriate adjustment in the Exercise
Price and the number of Warrant Shares, as mutually determined by the Company’s Board of Directors and the Required Holders,
so as to protect the rights of the Holder; provided that no such adjustment pursuant to this Section 2(d) will increase
the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2.

 

3.
RIGHTS UPON DISTRIBUTION OF ASSETS. If the Company shall declare or make any dividend or other distribution of its assets
(or rights to acquire its assets) to any or all holders of shares of Common Stock, by way of return of capital or otherwise (including,
without limitation, any distribution of cash, stock or other securities, property, options, evidence of indebtedness or any other
assets by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction)
(a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall
be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations
or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage) immediately before the date
of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares
of Common Stock are to be determined for the participation in such Distribution (provided, however, that to the
extent that the Holder’s right to participate in any such Distribution would result in the Holder and the other Attribution
Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Distribution to such extent
(and shall not be entitled to beneficial ownership of such shares of Common Stock as a result of such Distribution (and beneficial
ownership) to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until
such time or times as its right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum
Percentage, at which time or times the Holder shall be granted such Distribution (and any Distributions declared or made on such
initial Distribution or on any subsequent Distribution held similarly in abeyance) to the same extent as if there had been no
such limitation).

 

    10

     

    

 

4.
PURCHASE RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)
Purchase Rights. In addition to any adjustments pursuant to Section 2 above, if at any time on or after the Subscription
Date and on or prior to the Expiration Date the Company grants, issues or sells any Options, Convertible Securities or rights
to purchase stock, warrants, securities or other property pro rata to the record holders of any class of Common Stock (the “Purchase
Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate
Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon
complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without
limitation, the Maximum Percentage) immediately before the date on which a record is taken for the grant, issuance or sale of
such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Stock are to be determined
for the grant, issuance or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s
right to participate in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Maximum
Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent (and shall not be entitled
to beneficial ownership of such Common Stock as a result of such Purchase Right (and beneficial ownership) to such extent) and
such Purchase Right to such extent shall be held in abeyance for the benefit of the Holder until such time or times as its right
thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times
the Holder shall be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right or on any
subsequent Purchase Right to be held similarly in abeyance) to the same extent as if there had been no such limitation).

 

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(b)
Fundamental Transactions. The Company shall not enter into or be party to a Fundamental
Transaction unless the Successor Entity assumes in writing all of the obligations of the Company under this Warrant in accordance
with the provisions of this Section 4(b), including agreements to deliver to the Holder in exchange for this Warrant a security
of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including,
without limitation, which is exercisable for a corresponding number of shares of capital stock equivalent to the shares of Common
Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant)
prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such shares of
capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction
and the value of such shares of capital stock, such adjustments to the number of shares of capital stock and such exercise price
being for the purpose of protecting the economic value of this Warrant immediately prior to the occurrence or consummation
of such Fundamental Transaction). Upon the occurrence or consummation of each Fundamental
Transaction, the Successor Entity shall succeed to, and be substituted for the Company (so that from and after the date of the
applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company”
shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the
obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company herein.
Upon the consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there
shall be issued upon exercise of this Warrant at any time after the occurrence or consummation
of the applicable Fundamental Transaction, in lieu of the shares of Common Stock (or other securities, cash, assets or other property
(except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable
upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of common stock (or its equivalent)
of the Successor Entity (including its Parent Entity) which the Holder would have been entitled to receive upon the happening
of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction
(without regard to any limitations on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant.
Notwithstanding the foregoing, and without limiting Section 1(f) hereof, the Holder may elect, at its sole option, by delivery
of written notice to the Company to waive this Section 4(b) to permit the Fundamental Transaction without the assumption of this
Warrant. In addition to and not in substitution for any other rights hereunder, prior to the consummation of each Fundamental
Transaction pursuant to which holders of shares of Common Stock are entitled to receive securities or other assets with respect
to or in exchange for shares of Common Stock (a “Corporate Event”), the Company shall make appropriate provision
to insure that the Holder will thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation
of the applicable Fundamental Transaction but prior to the Expiration Date, in lieu of the shares of the Common Stock (or other
securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue
to be receivable thereafter)) issuable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of
stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights)
(collectively, the “Corporate Event Consideration”) which the Holder would have been entitled to receive upon
the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental
Transaction (without regard to any limitations on the exercise of this Warrant). The provision made pursuant to the preceding
sentence shall be in a form and substance reasonably satisfactory to the Holder. The provisions of this Section 4(b) shall apply
similarly and equally to successive Fundamental Transactions and Corporate Events.

 

(c)
Notwithstanding the foregoing, in the event of a Fundamental Transaction, at the request of the Holder delivered before the ninetieth
(90th) day after the occurrence or consummation of such Fundamental Transaction, the Company (or the Successor Entity)
shall purchase this Warrant from the Holder by paying to the Holder, within five (5) Business Days after such request (or, if
later, on the effective date of the Fundamental Transaction), cash in an amount equal to the Black Scholes Value of the remaining
unexercised portion of this Warrant on the effective date of such Fundamental Transaction, payable in cash; provided, however,
that, if such Fundamental Transaction is not within the Company’s control, including not approved by the Company’s
Board of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity, as of the date of consummation
of such Fundamental Transaction, the same type or form of consideration (and in the same proportion), at the Black Scholes Value
of the unexercised portion of this Warrant, that is being offered and paid to the holders of Common Stock of the Company in connection
with such Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether
the holders of Common Stock are given the choice to receive from among alternative forms of consideration in connection with such
Fundamental Transaction.

 

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5.
NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of
Incorporation or Bylaws, or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution,
issue or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Warrant, and will at all times in good faith carry out all of the provisions of this Warrant and take all action
as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (i) shall
not increase the par value of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price
then in effect, (ii) shall take all such actions as may be necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant, and (iii) shall, so long
as any of the SPA Warrants are outstanding, take all action necessary to reserve and keep available out of its authorized and
unissued shares of Common Stock, solely for the purpose of effecting the exercise of the SPA Warrants, the number of shares of
Common Stock as shall from time to time be necessary to effect the exercise of the SPA Warrants then outstanding (without regard
to any limitations on exercise).

 

6.
WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise specifically provided herein, the Holder, solely in such Person’s
capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of capital stock
of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in
such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to
vote, give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock,
consolidation, merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise,
prior to the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise
of this Warrant. In addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to
purchase any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities
are asserted by the Company or by creditors of the Company. Notwithstanding this Section 6, the Company shall provide the Holder
with copies of the same notices and other information given to the stockholders of the Company generally, contemporaneously with
the giving thereof to the stockholders.

 

7.
REISSUANCE OF WARRANTS.

 

(a)
Transfer of Warrant. If this Warrant is to be transferred, the Holder shall surrender this Warrant to the Company, whereupon
the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(d)), registered
as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and,
if less than the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance
with Section 7(d)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

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(b)
Lost, Stolen or Mutilated Warrant. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of any indemnification
undertaking by the Holder to the Company in customary form and, in the case of mutilation, upon surrender and cancellation of
this Warrant, the Company shall execute and deliver to the Holder a new Warrant (in accordance with Section 7(d)) representing
the right to purchase the Warrant Shares then underlying this Warrant.

 

(c)
Exchangeable for Multiple Warrants. This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal
office of the Company, for a new Warrant or Warrants (in accordance with Section 7(d)) representing in the aggregate the right
to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will represent the right to purchase
such portion of such Warrant Shares as is designated by the Holder at the time of such surrender; provided, however,
that no SPA Warrants for fractional Warrant Shares shall be given.

 

(d)
Issuance of New Warrants. Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant,
such new Warrant (i) shall be of like tenor with this Warrant, (ii) shall represent, as indicated on the face of such new Warrant,
the right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to
Section 7(a) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common
Stock underlying the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares
then underlying this Warrant), (iii) shall have an issuance date, as indicated on the face of such new Warrant which is the same
as the Issuance Date, and (iv) shall have the same rights and conditions as this Warrant.

 

8.
NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall
be given in accordance with Section 9(f) of the Securities Purchase Agreement. The Company shall provide the Holder with prompt
written notice of all actions taken pursuant to this Warrant, including in reasonable detail a description of such action and
the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i)
immediately upon any adjustment of the Exercise Price, setting forth in reasonable detail, and certifying, the calculation of
such adjustment and (ii) at least ten (10) days prior to the date on which the Company closes its books or takes a record (A)
with respect to any dividend or distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or sales
of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders of shares
of Common Stock as a class or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation;
provided in each case that such information shall be made known to the public prior to or in conjunction with such notice
being provided to the Holder. It is expressly understood and agreed that the time of exercise specified by the Holder in each
Exercise Notice shall be definitive and may not be disputed or challenged by the Company.

 

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9.
AMENDMENT AND WAIVER. Except as otherwise provided herein, the provisions of this Warrant may be amended or waived and
the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the
Company has obtained the written consent of the Holder.

 

10.
GOVERNING LAW; JURISDICTION; JURY TRIAL. This Warrant shall be governed by and construed and enforced in accordance with,
and all questions concerning the construction, validity, interpretation and performance of this Warrant 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. The Company 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. The Company
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 set forth in Section 9(f) of the Securities Purchase Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed
or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction
to collect on the Company’s obligations to the Holder, to realize on any collateral or any other security for such obligations,
or to enforce a judgment or other court ruling in favor of the Holder. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY
HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT
OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

11.
CONSTRUCTION; HEADINGS. This Warrant shall be deemed to be jointly drafted by the Company and all of the Buyers and shall
not be construed against any Person as the drafter hereof. The headings of this Warrant are for convenience of reference and shall
not form part of, or affect the interpretation of, this Warrant.

 

12.
DISPUTE RESOLUTION. In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation
of the Warrant Shares, the Company shall submit the disputed determinations or arithmetic calculations via facsimile or electronic
mail within one (1) Business Day of receipt of the Exercise Notice giving rise to such dispute, as the case may be, to the Holder.
If the Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price or the Warrant
Shares within one (1) Business Day of such disputed determination or arithmetic calculation being submitted to the Holder, then
the Company shall, within one (1) Business Day submit via facsimile or electronic mail (a) the disputed determination of the Exercise
Price to an independent, reputable investment bank selected by the Holder and approved by the Company, such approval not to be
unreasonably withheld, conditioned or delayed or (b) the disputed arithmetic calculation of the Warrant Shares to an independent,
outside accountant, selected by the Holder and approved by the Company, such approval not to be unreasonably withheld, conditioned
or delayed. The Company shall cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations
or calculations and notify the Company and the Holder of the results no later than five (5) Business Days from the time it receives
the disputed determinations or calculations. Such investment bank’s or accountant’s determination or calculation,
as the case may be, shall be binding upon all parties absent demonstrable error.

 

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13.
REMEDIES, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative
and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue
actual damages for any failure by the Company to comply with the terms of this Warrant. The Company acknowledges that a breach
by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may
be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant
shall be entitled, in addition to all other available remedies, to an injunction restraining any breach, without the necessity
of showing economic loss and without any bond or other security being required.

 

14.
TRANSFER. This Warrant and the Warrant Shares may be offered for sale, sold, transferred, pledged or assigned without the
consent of the Company, except as may otherwise be required by Section 2(f) of the Securities Purchase Agreement.

 

15.
SEVERABILITY. If any provision of this Warrant is prohibited by law or otherwise determined to be invalid or unenforceable
by a court of competent jurisdiction, the provision that would otherwise be prohibited, invalid or unenforceable shall be deemed
amended to apply to the broadest extent that it would be valid and enforceable, and the invalidity or unenforceability of such
provision shall not affect the validity of the remaining provisions of this Warrant so long as this Warrant as so modified continues
to express, without material change, the original intentions of the parties as to the subject matter hereof and the prohibited
nature, invalidity or unenforceability of the provision(s) in question does not substantially impair the respective expectations
or reciprocal obligations of the parties or the practical realization of the benefits that would otherwise be conferred upon the
parties. The parties will endeavor in good faith negotiations to replace the prohibited, invalid or unenforceable provision(s)
with a valid provision(s), the effect of which comes as close as possible to that of the prohibited, invalid or unenforceable
provision(s).

 

16.
DISCLOSURE. Upon receipt or delivery by the Company of any notice in accordance with the terms of this Warrant, unless
the Company has in good faith determined that the matters relating to such notice do not constitute material, nonpublic information
relating to the Company or its Subsidiaries, the Company shall contemporaneously with any such receipt or delivery publicly disclose
such material, nonpublic information on a Current Report on Form 8-K or otherwise. In the event that the Company believes that
a notice contains material, nonpublic information relating to the Company or its Subsidiaries, the Company so shall indicate to
the Holder contemporaneously with delivery of such notice, and in the absence of any such indication, the Holder shall be allowed
to presume that all matters relating to such notice do not constitute material, nonpublic information relating to the Company
or its Subsidiaries.

 

    16

     

    

 

17.
CERTAIN DEFINITIONS. For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)
“1933 Act” means the Securities Act of 1933, as amended.

 

(b)
“Affiliate” shall have the meaning ascribed to such term in Rule 405 of the 1933 Act.

 

(c)
“Attribution Parties” means, collectively, the following Persons and entities: (i) any investment vehicle,
including, any funds, feeder funds or managed accounts, currently, or from time to time after the Issuance Date, directly or indirectly
managed or advised by the Holder’s investment manager or any of its Affiliates or principals, (ii) any direct or indirect
Affiliates of the Holder or any of the foregoing, (iii) any Person acting or who could be deemed to be acting as a Group together
with the Holder or any of the foregoing and (iv) any other Persons whose beneficial ownership of the Common Stock would or could
be aggregated with the Holder’s and the other Attribution Parties for purposes of Section 13(d) of the 1934 Act. For clarity,
the purpose of the foregoing is to subject collectively the Holder and all other Attribution Parties to the Maximum Percentage.

 

(d)
“Bid Price” means, for any date, the price determined by the first of the following clauses that applies: (a)
if the Common Stock is then listed or quoted on an Eligible Market, the bid price of the Common Stock for the time in question
(or the nearest preceding date) on the Eligible Market on which the Common Stock is then listed or quoted as reported by Bloomberg
L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m. (New York City time)), (b) if the Common Stock is
not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on the OTC Pink Market
published by OTC Markets Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the
most recent bid price per share of the Common Stock so reported, or (c) in all other cases, the fair market value of a share of
Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of the
Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

 

(e)
“Black Scholes Value” means the value of this Warrant calculated using
the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the day immediately
following the public announcement of the applicable Fundamental Transaction, or, if the Fundamental Transaction is not publicly
announced, the date the Fundamental Transaction is consummated, for pricing purposes and reflecting (i) a risk-free interest rate
corresponding to the U.S. Treasury rate for a period equal to the remaining term of this Warrant as of such date of request, (ii)
an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as
of the day immediately following the public announcement of the applicable Fundamental Transaction, or, if the Fundamental Transaction
is not publicly announced, the date the Fundamental Transaction is consummated, (iii) the underlying price per share used in such
calculation shall be the greater of (x) the highest Weighted Average Price of the Common Stock during the period beginning on
the Trading Day prior to the execution of definitive documentation relating to the applicable Fundamental Transaction and ending
on (A) the Trading Day immediately following the public announcement of such Fundamental Transaction, if the applicable Fundamental
Transaction is publicly announced or (B) the Trading Day immediately following the consummation of the applicable Fundamental
Transaction if the applicable Fundamental Transaction is not publicly announced and (y) the sum of the price per share being offered
in cash, if any, plus the value of any non-cash consideration, if any, being offered in the Fundamental Transaction, (iv) a zero
cost of borrow and (v) a 360 day annualization factor.

 

    17

     

    

 

(f)
“Bloomberg” means Bloomberg Financial Markets.

 

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

 

(h)
“Closing Bid Price” and “Closing Sale Price” means, for any security as of any date, the
last closing bid price and last closing trade price, respectively, for such security on the Principal Market, as reported by Bloomberg,
or, if the Principal Market begins to operate on an extended hours basis and does not designate the closing bid price or the closing
trade price, as the case may be, then the last bid price or the last trade price, respectively, of such security prior to 4:00:00
p.m., New York time, as reported by Bloomberg, or, if the Principal Market is not the principal securities exchange or trading
market for such security, the last closing bid price or last trade price, respectively, of such security on the principal securities
exchange or trading market where such security is listed or traded as reported by Bloomberg, or if the foregoing do not apply,
the last closing bid price or last trade price, respectively, of such security in the over-the-counter market on the electronic
bulletin board for such security as reported by Bloomberg, or, if no closing bid price or last trade price, respectively, is reported
for such security by Bloomberg, the average of the bid prices, or the ask prices, respectively, of any market makers for such
security as reported in the OTC Pink Market by OTC Markets Group Inc.. If the Closing Bid Price or the Closing Sale Price cannot
be calculated for a security on a particular date on any of the foregoing bases, the Closing Bid Price or the Closing Sale Price,
as the case may be, of such security on such date shall be the fair market value as mutually determined by the Company and the
Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall
be resolved pursuant to Section 12. All such determinations to be appropriately adjusted for any stock dividend, stock split,
stock combination, reclassification or other similar transaction during the applicable calculation period.

 

(i)
“Common Stock” means (i) the Company’s shares of Common Stock, par value $0.001 per share, and (ii) any
capital stock into which such Common Stock shall have been changed or any capital stock resulting from a reclassification, reorganization
or reclassification of such Common Stock.

 

(j)
“Convertible Securities” means any stock or securities (other than Options) directly or indirectly convertible
into or exercisable or exchangeable for shares of Common Stock.

 

    18

     

    

 

(k)
“Eligible Market” means the Principal Market, the OTC QX, the NYSE American, The Nasdaq Global Select Market,
The Nasdaq Global Market, The Nasdaq Capital Market or The New York Stock Exchange, Inc.

 

(l)
[INSERT IN SERIES A WARRANT: Intentionally Omitted]][INSERT IN SERIES B WARRANT: “Equity Conditions Failure”
means each day from and after the Issuance Date that (i) the Company has (a) failed for any reason to satisfy the current public
information requirement under Rule 144(c) or (b) failed to satisfy any condition set forth in Rule 144(i)(2), (ii) the Holder
shall be in possession of any material non-public information regarding the Company or any of its Subsidiaries provided by the
Company, any of its Subsidiaries or any of its or any of their respective officers, directors, affiliates, employees and agents
without the express prior written consent of the Holder, (iii) the Common Stock (including all of the Warrant Shares) are not
listed or designated for quotation (as applicable) on an Eligible Market or shall have been suspended from trading on an Eligible
Market; or (iv) the Company shall have failed to deliver all shares of Common Stock issuable upon exercise of this Warrant on
a timely basis as set forth in Section 1 hereof.]

 

(m)
“Expiration Date” means [INSERT IN SERIES A WARRANT: the date sixty (60) months after the Issuance Date][INSERT
IN SERIES B WARRANT: 20 days following the later of (i) the public announcement of Phase II clinical data for LO2A and (ii)
six (6) months following the Issuance Date; provided for each day after the Issuance Date that an Equity Conditions Failure has
occurred, the Expiration Date shall be extended by one day] or, if such date falls on a day other than a Business Day or on which
trading does not take place on the Principal Market (a “Holiday”), the next day that is not a Holiday.

 

(n)
“Fundamental Transaction” means (A) that the Company shall, directly or indirectly, including through Subsidiaries,
Affiliates or otherwise, in one or more related transactions, (i) consolidate or merge with or into (whether or not the Company
is the surviving corporation) another Subject Entity, or (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially
all of the properties or assets of the Company or any of its “significant subsidiaries” (as defined in Rule 1-02 of
Regulation S-X) to one or more Subject Entities, or (iii) make, or allow one or more Subject Entities to make, or allow the Company
to be subject to or have its Common Stock be subject to or party to one or more Subject Entities making, a purchase, tender or
exchange offer that is accepted by the holders of at least either (x) 50% of the outstanding shares of Common Stock, (y) 50% of
the outstanding shares of Common Stock calculated as if any shares of Common Stock held by all Subject Entities making or party
to, or Affiliated with any Subject Entities making or party to, such purchase, tender or exchange offer were not outstanding;
or (z) such number of shares of Common Stock such that all Subject Entities making or party to, or Affiliated with any Subject
Entity making or party to, such purchase, tender or exchange offer, become collectively the beneficial owners (as defined in Rule
13d-3 under the 1934 Act) of at least 50% of the outstanding shares of Common Stock, or (iv) consummate a stock purchase agreement
or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement)
with one or more Subject Entities whereby such Subject Entities, individually or in the aggregate, acquire, either (x) at least
50% of the outstanding shares of Common Stock, (y) at least 50% of the outstanding shares of Common Stock calculated as if any
shares of Common Stock held by all the Subject Entities making or party to, or Affiliated with any Subject Entity making or party
to, such stock purchase agreement or other business combination were not outstanding; or (z) such number of shares of Common Stock
such that the Subject Entities become collectively the beneficial owners (as defined in Rule 13d-3 under the 1934 Act) of at least
50% of the outstanding shares of Common Stock, or (v) reorganize, recapitalize or reclassify its Common Stock, (B) that the Company
shall, directly or indirectly, including through Subsidiaries, Affiliates or otherwise, in one or more related transactions, allow
any Subject Entity individually or the Subject Entities in the aggregate to be or become the “beneficial owner” (as
defined in Rule 13d-3 under the 1934 Act), directly or indirectly, whether through acquisition, purchase, assignment, conveyance,
tender, tender offer, exchange, reduction in outstanding shares of Common Stock, merger, consolidation, business combination,
reorganization, recapitalization, spin-off, scheme of arrangement, reorganization, recapitalization or reclassification or otherwise
in any manner whatsoever, of either (x) at least 50% of the aggregate ordinary voting power represented by issued and outstanding
Common Stock, (y) at least 50% of the aggregate ordinary voting power represented by issued and outstanding Common Stock not held
by all such Subject Entities as of the Subscription Date calculated as if any shares of Common Stock held by all such Subject
Entities were not outstanding, or (z) a percentage of the aggregate ordinary voting power represented by issued and outstanding
shares of Common Stock or other equity securities of the Company sufficient to allow such Subject Entities to effect a statutory
short form merger or other transaction requiring other stockholders of the Company to surrender their shares of Common Stock without
approval of the stockholders of the Company or (C) directly or indirectly, including through Subsidiaries, Affiliates or otherwise,
in one or more related transactions, the issuance of or the entering into any other instrument or transaction structured in a
manner to circumvent, or that circumvents, the intent of this definition in which case this definition shall be construed and
implemented in a manner otherwise than in strict conformity with the terms of this definition to the extent necessary to correct
this definition or any portion of this definition which may be defective or inconsistent with the intended treatment of such instrument
or transaction.

 

    19

     

    

 

(o)
“Group” means a “group” as that term is used in Section 13(d) of the 1934 Act and as defined in
Rule 13d-5 thereunder.

 

(p)
“Options” means any rights, warrants or options to subscribe for or purchase (i) shares of Common Stock or
(ii) Convertible Securities.

 

(q)
“Option Value” means the value of an Option calculated using the Black-Scholes Option Pricing Model obtained
from the “OV” function on Bloomberg determined as of (A) the Trading Day prior to the public announcement of the issuance
of the applicable Option, if the issuance of such Option is publicly announced or (B) the Trading Day immediately following the
issuance of the applicable Option if the issuance of such Option is not publicly announced, for pricing purposes and reflecting
(i) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of the applicable
Option as of the applicable date of determination, (ii) an expected volatility equal to the greater of 100% and the 100 day volatility
obtained from the HVT function on Bloomberg as of (A) the Trading Day immediately following the public announcement of the applicable
Option if the issuance of such Option is publicly announced or (B) the Trading Day immediately following the issuance of the applicable
Option if the issuance of such Option is not publicly announced, (iii) the underlying price per share used in such calculation
shall be the highest Weighted Average Price of the Common Stock during the period beginning on the Trading Day prior to the execution
of definitive documentation relating to the issuance of the applicable Option and ending on (A) the Trading Day immediately following
the public announcement of such issuance, if the issuance of such Option is publicly announced or (B) the Trading Day immediately
following the issuance of the applicable Option if the issuance of such Option is not publicly announced, (iv) a zero cost of
borrow and (v) a 360 day annualization factor.

 

    20

     

    

 

(r)
“Parent Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person, including
such entity whose common capital or equivalent equity security is quoted or listed on an Eligible Market (or, if so elected by
the Required Holders, any other market, exchange or quotation system), or, if there is more than one such Person or such entity,
the Person or such entity designated by the Required Holders or in the absence of such designation, such Person or entity with
the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

 

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

 

(t)
“Principal Market” means the OTC QB.

 

(u)
“Registration Rights Agreement” means that certain Registration Rights Agreement dated as of the Subscription
Date by and among the Company and the Buyers.

 

(v)
“Required Holders” means the holders of the SPA Warrants representing at least a majority of the shares of
Common Stock underlying the SPA Warrants then outstanding.

 

(w)
“Standard Settlement Period” means the standard settlement period, expressed in a number of Trading Days, on
the principal securities exchange or securities market on which the Common Stock is then traded as in effect on the date of delivery
of the applicable Exercise Notice.

 

(x)
“Subject Entity” means any Person, Persons or Group or any Affiliate or associate of any such Person, Persons
or Group.

 

(y)
“Subsidiary” has the meaning ascribed to such term in the Securities Purchase Agreement.

 

(z)
“Successor Entity” means one or more Person or Persons (or, if so elected by the Required Holders, the Company
or Parent Entity) formed by, resulting from or surviving any Fundamental Transaction, or one or more Person or Persons (or, if
so elected by the Required Holders, the Company or the Parent Entity) with which such Fundamental Transaction shall have been
entered into.

 

(aa)
“Trading Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal
Market is not the principal trading market for the Common Stock on such day, then on the principal securities exchange or securities
market on which the Common Stock is then traded.

 

    21

     

    

 

(bb)
“Weighted Average Price” means, for any security as of any date, the dollar volume-weighted average price for
such security on the Principal Market during the period beginning at 9:30:01 a.m., New York time (or such other time as the Principal
Market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such other time as the
Principal Market publicly announces is the official close of trading), as reported by Bloomberg through its “Volume at Price”
function or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter
market on the electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York time (or such
other time as such market publicly announces is the official open of trading), and ending at 4:00:00 p.m., New York time (or such
other time as such market publicly announces is the official close of trading), as reported by Bloomberg, or, if no dollar volume-weighted
average price is reported for such security by Bloomberg for such hours, the average of the highest Closing Bid Price and the
lowest closing ask price of any of the market makers for such security as reported in the OTC Link or “pink sheets”
by OTC Markets Group Inc. (formerly Pink OTC Markets Inc.). If the Weighted Average Price cannot be calculated for a security
on a particular date on any of the foregoing bases, the Weighted Average Price of such security on such date shall be the fair
market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the
fair market value of such security, then such dispute shall be resolved pursuant to Section 12 with the term “Weighted Average
Price” being substituted for the term “Exercise Price.” All such determinations shall be appropriately adjusted
for any stock dividend, stock split, stock combination, reclassification or other similar transaction during the applicable calculation
period.

 

[Signature
Page Follows]

 

    22

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date
set out above.

 

	 	WIZE
    PHARMA, INC.
	 	 	 
	 	By:   	                                          
	 	Name:	 
	 	Title:	 

 

    23

     

    

 

EXHIBIT
A

 

EXERCISE
NOTICE

 

TO
BE EXECUTED BY THE REGISTERED HOLDER TO EXERCISE THIS

WARRANT
TO PURCHASE COMMON STOCK

 

WIZE
PHARMA, INC. 

 

The
undersigned holder hereby exercises the right to purchase _________________ of the shares of Common Stock (“Warrant Shares”)
of Wize Pharma, Inc., a Delaware corporation (the “Company”), evidenced by the attached Warrant to Purchase
Common Stock (the “Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1.
Form of Exercise Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________
a “Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________
a “Cashless Exercise” with respect to _______________ Warrant Shares,
resulting in a delivery obligation of the Company to the Holder of __________ shares of Common Stock representing the applicable
Net Number.

 

2.
Payment of Exercise Price. In the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant
Shares to be issued pursuant hereto, the holder shall pay the Aggregate Exercise Price in the sum of $___________________ to the
Company in accordance with the terms of the Warrant.

 

3.
Delivery of Warrant Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of
the Warrant.

 

Date:
_______________ __, ______

 

 

Name
of Registered Holder

 

	By:	 	 
	 	Name:	 
	 	Title:	 

 

    A-1

     

    

 

ACKNOWLEDGMENT

 

The
Company hereby acknowledges this Exercise Notice and hereby directs VStock Transfer LLC to issue the above indicated number of
shares of Common Stock in accordance with the Transfer Agent Instructions dated October 22, 2018 from the Company and acknowledged
and agreed to by VStock Transfer LLC.

 

	 	WIZE
    PHARMA, INC.
	 	 	 
	 	By:	                                             
	 	Name:	 
	 	Title:	 

 

    A-2

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