Document:

EX-4.1

 Exhibit 4.1 

EXHIBIT B 
 NEITHER THIS SECURITY NOR THE
SECURITIES FOR WHICH THIS SECURITY IS EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER
LOAN SECURED BY SUCH SECURITIES. 
 COMMON STOCK PURCHASE WARRANT 

MYOMO, INC. 
  

			
	Warrant Shares:                 	  	Initial Exercise Date: August             , 2019
		  	Issue Date: February             , 2019

 THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received,
                             or its assigns (the “Holder”) is entitled, upon the
terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after August             , 2019 (the “Initial Exercise
Date”) and on or prior to 5:00 p.m. (New York City time) on                 1 (the
“Termination Date”) but not thereafter, to subscribe for and purchase from Myomo, Inc., a Delaware corporation (the “Company”), up
to                 shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common
Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant is being issued by the Company as of the date hereof pursuant to the Underwriting Agreement. 

Section 1. Definitions. In addition to the terms defined elsewhere in this Warrant, the following terms have
the meanings indicated in this Section 1: 
 “Affiliate” means any Person that, directly or indirectly
through one or more intermediaries, controls or is controlled by or is under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act. 

 

	1 	 Insert the date that is the four (4) year anniversary of the Issue Date, provided that, if such date is
not a Trading Day, insert the immediately following Trading Day. 

  
 Ex. B-1 

 “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 a Trading Market, the bid price of the Common Stock for the time in question (or the nearest preceding date) on the Trading 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 OTCQB or OTCQX is not a Trading Market, the volume weighted average price
of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) 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 in the
“Pink Sheets” 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 (d) 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 Holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and
expenses of which shall be paid by the Company. 
 “Board of Directors” means the board of directors of the
Company. 
 “Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal
holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 

“Commission” means the United States Securities and Exchange Commission. 

“Common Stock” means the common stock of the Company, par value $0.0001 per share, and any other class
of securities into which such securities may hereafter be reclassified or changed. 
 “Common Stock
Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant or other
instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations
promulgated thereunder. 
 “Person” means an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder. 
 “Trading Day” means a day on which the Common Stock is traded on a Trading Market. 

  
 Ex. B-2 

 “Trading Market” means any of the following markets or
exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange (or any successors
to any of the foregoing). 
 “Transfer Agent” means vStock Transfer, LLC, the current transfer agent of the
Company, with a mailing address of 18 Lafayette Place, Woodmere, New York 11598 and a facsimile number of ___________, and any successor transfer agent of the Company. 

“Underwriting Agreement” means the underwriting agreement, dated as of February , 2019, among the Company and
National Securities Corporation as underwriter, as amended, modified or supplemented from time to time in accordance with its terms. 

“VWAP” 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 a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading 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 OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such
date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) 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 in the “Pink Sheets”
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 (d) 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 holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid
by the Company. 
 Section 2. Exercise. 

a) Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at
any time or times on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto (the “Notice of Exercise”). Within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days
comprising the Standard Settlement Period (as defined in Section 2(d)(i) herein) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by
wire transfer or cashier’s check drawn on a United States bank unless the cashless exercise procedure specified in Section 2(c) below is specified in the applicable Notice of Exercise. No
ink-original Notice of Exercise shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Exercise be required. Notwithstanding anything herein to the
contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall
surrender this Warrant to the Company for cancellation within three (3) Trading Days of the date on which the final 

  
 Ex. B-3 

 
Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the
effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares
purchased and the date of such purchases. The Company shall deliver any objection to any Notice of Exercise within one (1) Business Day of receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and
agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the
face hereof. 
 b) Exercise Price. The exercise price per share of Common Stock under this Warrant shall be
$____,2 subject to adjustment hereunder (the “Exercise Price”). 

c) Cashless Exercise. If at any time after the six-month anniversary of the
Closing Date, there is no effective registration statement registering, or no current prospectus available for, the resale of the Warrant Shares by the Holder, then this Warrant may also be exercised, in whole or in part, at such time by means of a
“cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: 

 

	 	(A) =	 as applicable: (i) the VWAP on the Trading Day immediately preceding the date of the applicable Notice of
Exercise if such Notice of Exercise is (1) both executed and delivered pursuant to Section 2(a) hereof on a day that is not a Trading Day or (2) both executed and delivered pursuant to Section 2(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 (y) the VWAP on the Trading
Day immediately preceding the date of the applicable Notice of Exercise or (z) the Bid Price of the Common Stock on the principal Trading Market as reported by Bloomberg L.P. as of the time of the Holder’s execution of the applicable
Notice of Exercise if such Notice of Exercise 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) pursuant to Section 2(a) hereof or (iii) the VWAP on the date of the applicable Notice of Exercise if the date of such Notice of Exercise is a Trading Day and such Notice of Exercise is both executed and
delivered pursuant to Section 2(a) hereof after the close of “regular trading hours” on such Trading Day; 

  

	 	(B) =	 the Exercise Price of this Warrant, as adjusted hereunder; and 

 

	2 	 125% of the public offering price per share 

  
 Ex. B-4 

	 	(X) =	 the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms
of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise. 

 If
Warrant Shares are issued in such a cashless exercise, the parties acknowledge and agree that in accordance with Section 3(a)(9) of the Securities Act, the Warrant Shares shall take on the characteristics of the Warrants being exercised, and
the holding period of the Warrant Shares being issued may be tacked on to the holding period of this Warrant. The Company agrees not to take any position contrary to this Section 2(c). 

d) Mechanics of Exercise. 

i. Delivery of Warrant Shares Upon Exercise. The Company shall cause the Warrant Shares purchased hereunder to be
transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s or its designee’s balance account with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if
the Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) the Warrant Shares are
eligible for resale by the Holder without volume or manner-of-sale limitations pursuant to Rule 144 (assuming cashless exercise of the Warrants), and otherwise by
physical delivery of 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 to the address specified by the
Holder in the Notice of Exercise by the date that is the earliest of (i) two (2) Trading Days after the delivery to the Company of the Notice of Exercise, (ii) one (1) Trading Day after delivery of the aggregate Exercise Price to the
Company and (iii) the number of Trading Days comprising the Standard Settlement Period after the delivery to the Company of the Notice of Exercise (such date, the “Warrant Share Delivery Date”). Upon delivery of the Notice of
Exercise, 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 of delivery of the Warrant Shares, provided
that payment of the aggregate Exercise Price (other than in the case of a cashless exercise) is received within the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the Standard Settlement Period following
delivery of the Notice of Exercise. The Company agrees to maintain a transfer agent that is a participant in the FAST program so long as this Warrant remains outstanding and exercisable. As used herein, “Standard Settlement Period”
means the standard settlement period, expressed in a number of Trading Days, on the Company’s primary Trading Market with respect to the Common Stock as in effect on the date of delivery of the Notice of Exercise. 

  
 Ex. B-5 

 ii. Delivery of New Warrants Upon Exercise. If this Warrant shall
have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to
purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. 

iii. Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares
pursuant to Section 2(d)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise. 

iv. Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon
Exercise. In addition to any other rights available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(d)(i) above pursuant to an
exercise on or before the Warrant Share Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common
Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in
cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the
number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the
option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares
of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the immediately preceding sentence the
Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company,
evidence of the amount of such loss. Nothing herein shall limit a 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 shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof. 

  
 Ex. B-6 

 v. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash
adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share. 

vi. Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for any issue or
transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or names as
may be directed by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment
Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees required for
same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for
same-day electronic delivery of the Warrant Shares. 
 vii. Closing of Books.
The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof. 

e) Holder’s Exercise Limitations. The Company shall not effect any exercise of this Warrant, and a Holder shall not
have the right to exercise any portion of this Warrant, pursuant to Section 2 or otherwise, to the extent that after giving effect to such issuance after exercise as set forth on the applicable Notice of Exercise, the Holder (together with the
Holder’s Affiliates, and any other Persons acting as a group together with the Holder or any of the Holder’s Affiliates (such Persons, “Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership
Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its Affiliates and Attribution Parties shall include the number of shares of Common Stock issuable
upon exercise of this Warrant with respect to which such determination is being made, but shall exclude the number of shares of Common Stock which would be issuable upon (i) exercise of the remaining, nonexercised portion of this Warrant
beneficially owned by the Holder or any of its Affiliates or Attribution Parties and (ii) exercise or conversion of the unexercised or 

  
 Ex. B-7 

 
nonconverted portion of any other securities of the Company (including, without limitation, any other Common Stock Equivalents) subject to a limitation on conversion or exercise analogous to the
limitation contained herein beneficially owned by the Holder or any of its Affiliates or Attribution Parties. Except as set forth in the preceding sentence, for purposes of this Section 2(e), beneficial ownership shall be calculated in
accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder, it being acknowledged by the Holder that the Company is not representing to the Holder that such calculation is in compliance with
Section 13(d) of the Exchange Act and the Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 2(e) applies, the determination of whether
this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which portion of this Warrant is exercisable shall be in the sole discretion of the Holder, and the
submission of a Notice of Exercise shall be deemed to be the Holder’s determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which
portion of this Warrant is exercisable, in each case subject to the Beneficial Ownership Limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. In addition, a determination as to any group
status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. For purposes of this Section 2(e), in determining the number of outstanding shares
of Common Stock, a Holder may rely on the number of outstanding shares of Common Stock as reflected in (A) the Company’s most recent periodic or annual report filed with the Commission, as the case may be, (B) a more recent public
announcement by the Company or (C) a more recent written notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of a Holder, the Company shall within one
Trading Day confirm orally and in writing 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 or its Affiliates or Attribution Parties since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial Ownership
Limitation” shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of this Warrant. The Holder, upon notice to the Company, may
increase or decrease the Beneficial Ownership Limitation provisions of this Section 2(e), provided that the Beneficial Ownership Limitation in no event exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after
giving effect to the issuance of shares of Common Stock upon exercise of this Warrant held by the Holder and the provisions of this Section 2(e) shall continue to apply. Any increase in the Beneficial Ownership Limitation will not be effective
until the 61st day after such notice is delivered to the Company. The provisions of this paragraph shall be construed and implemented 

  
 Ex. B-8 

 
in a manner otherwise than in strict conformity with the terms of this Section 2(e) to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended
Beneficial Ownership Limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitations contained in this paragraph shall apply to a successor holder of this Warrant. 

Section 3. Certain Adjustments. 

a) Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock
dividend or otherwise makes a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common
Stock issued by the Company upon exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a
smaller number of shares or (iv) issues by reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the
number of shares of Common Stock (excluding treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of
shares issuable upon exercise of this Warrant shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately
after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or
re-classification. 
 b) Subsequent Rights Offerings. If the Company, at any
time while the Warrant is outstanding, shall issue rights, options or warrants to all holders of Common Stock (and not to the Holder) entitling them to subscribe for or purchase shares of Common Stock at a price per share less than the VWAP on the
record date mentioned below, then the Exercise Price shall be multiplied by a fraction, of which the denominator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights, options or warrants plus the
number of additional shares of Common Stock offered for subscription or purchase, and of which the numerator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights, options or warrants plus the number of
shares which the aggregate offering price of the total number of shares so offered (assuming receipt by the Company in full of all consideration payable upon exercise of such rights, options or warrants) would purchase at such VWAP. Such adjustment
shall be made whenever such rights, options or warrants are issued, and shall become effective immediately after the record date for the determination of stockholders entitled to receive such rights, options or warrants. 

  
 Ex. B-9 

 c) Pro Rata Distributions. If the Company, at any time while this
Warrant is outstanding, shall distribute to all holders of Common Stock (and not to the Holder) evidences of its indebtedness or assets (including cash and cash dividends) or rights or warrants to subscribe for or purchase any security, then in each
such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution by a fraction of which the denominator
shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP on such record date less the then per share fair market value at such record date of the portion of such assets or evidence of
indebtedness or rights or warrants so distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors in good faith. In either case the adjustments shall be described in a statement provided to the Holder
of the portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment shall be made whenever any such distribution is made and shall become effective immediately
after the record date mentioned above. 
 d) Fundamental Transaction. If, at any time while this Warrant is
outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease,
license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding
Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock
is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination
(including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires more than 50%
of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase
agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon
such exercise immediately prior to the occurrence of such Fundamental Transaction, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration
(the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the
amount of Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a

  
 Ex. B-10 

 
reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property
to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. The Company shall cause any successor
entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance
with the provisions of this Section 3(d) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the
option of the Holder, 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 which is exercisable for a corresponding number
of shares of capital stock of such Successor Entity (or its parent entity) 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 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 consummation of such Fundamental
Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such
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 and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. 

e) Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of
a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if
any) issued and outstanding. 
 f) Notice to Holder. 

i. Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this
Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement
of the facts requiring such adjustment. 

  
 Ex. B-11 

 ii. Notice to Allow Exercise by Holder. If (A) the Company shall
declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to
all holders of the Common Stock rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any
reclassification of the Common Stock, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted
into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by
facsimile or email to the Holder at its last facsimile number or email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be
entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and
the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale,
transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any
notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the
Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event
triggering such notice except as may otherwise be expressly set forth herein. 
 Section 4. Transfer of
Warrant. 
 a) Transferability. Neither this Warrant nor any Warrant Shares issued upon exercise of this Warrant
shall be sold, transferred, assigned, pledged or hypothecated , or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of the securities by any person for a period of
180 days immediately following the date of effectiveness or commencement of sales of the offering pursuant to which this Warrant is being issued, except the transfer of any security: 

  
 Ex. B-12 

	 	a.	 by operation of law or by reason of reorganization of the Company; 

 

	 	b.	 to any FINRA member firm participating in the offering and the officers and partners thereof, if all securities
so transferred remain subject to the lock-up restriction in this Section 4(a) for the remainder of the time period; 

 

	 	c.	 if the aggregate amount of our securities held by the placement agent or related persons do not exceed 1% of
the securities being offered; 

  

	 	d.	 that is beneficially owned on a pro-rata basis by all equity owners of
an investment fund, provided that no participating member manages or otherwise directs investments by the fund, and participating members in the aggregate do not own more than 10% of the equity in the fund; or 

 

	 	e.	 the exercise or conversion of any security, if all securities received remain subject to the lock-up restriction in this Section 4(a) for the remainder of the time period. 

Subject to the foregoing restriction and compliance with any applicable securities laws and the conditions set forth in Section 4(d)
hereof, this Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together
with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender
and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall
issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this
Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the
Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant Shares without having a new Warrant issued. 

b) New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid
office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer
which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers
or exchanges shall be dated the Issue Date and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto. 

  
 Ex. B-13 

 c) Warrant Register. The Company shall register this Warrant, upon
records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner
hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary. 

d) Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this
Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws or (ii) eligible for resale without
volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer,
that the Holder or transferee of this Warrant provides to the Company an opinion of counsel selected by the Holder or the transferee, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such
transfer does not require registration of such transferred Securities under the Securities Act. 
 e) Representation by
the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant Shares issuable upon such exercise, for its own account and not with a view to or
for distributing or reselling such Warrant Shares or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act. 

Section 5. Registration Rights. 

a) The Company, upon written demand (“Demand Notice”) of the Majority Holders, agrees to register on one
occasion all of the Registrable Securities (a “Demand Right”). On such occasion, the Company will file a registration statement or a post-effective amendment to the Registration Statement covering the Registrable Securities within
forty-five (45) days after receipt of a Demand Notice and use its commercially reasonable best efforts to have such registration statement or post-effective amendment declared effective as soon as possible thereafter; provided,
however, that the Company shall not be required to comply with a Demand Notice if the Company has filed a registration statement with respect to which the Holder is entitled to piggyback registration rights pursuant to Section 5(b)
hereof and either: (i) the Holder has elected to participate in the offering covered by such registration statement or (ii) if such registration statement relates to an underwritten primary offering of securities of the Company, until the
offering covered by such registration statement has been withdrawn or until thirty (30) days after such offering is consummated. The demand for registration may be made at any time during a period beginning six (6) months from the date
hereof until such date as the Warrants have terminated. The Company covenants and agrees to give written notice of its receipt of any Demand Notice to all other registered Holders of the Warrants and/or the Registrable

  
 Ex. B-14 

 
Securities within ten days from the date of the receipt of any such Demand Notice. The Company shall bear all fees and expenses attendant to registering the Registrable Securities pursuant to
Section 5(a), but the Holders shall pay any and all underwriting commissions and the expenses of any legal counsel selected by the Holders to represent them in connection with the sale of the Registrable Securities. The Company agrees to use
its commercially reasonable best efforts to qualify or register the Registrable Securities in such states as are reasonably requested by the Majority Holder(s); provided, however, that in no event shall the Company be required to
register the Registrable Securities in a state in which such registration would cause (i) the Company to be obligated to register, license or qualify to do business in such state, submit to general service of process in such state or would
subject the Company to taxation as a foreign corporation doing business in such jurisdiction or (ii) the principal stockholders of the Company to be obligated to escrow their shares of capital stock of the Company. The Company shall cause any
registration statement or post-effective amendment filed pursuant to the Demand Right granted under Section 5(a) to remain effective for a period of nine consecutive months from the effective date of such registration statement or
post-effective amendment. The Holders shall only use the prospectuses provided by the Company to sell the Registrable Securities covered by such registration statement, and will immediately cease to use any prospectus furnished by the Company if the
Company advises the Holder that such prospectus may no longer be used due to a material misstatement or omission. 
 b) If
the Company proposes to register any of its securities under the Securities Act (other than in connection with a transaction contemplated by Rule 145(a) promulgated under the Securities Act or pursuant to registration on Form S-4 or S-8 or any successor forms) whether for its own account or for the account of any holder or holders of its shares other than Registrable Securities (any shares of such
holder or holders (but not those of the Company and not Registrable Securities) with respect to any registration are referred to herein as, “Other Shares”), the Company shall at each such time give prompt (but not less than thirty
(30) days prior to the anticipated effectiveness thereof) written notice to the holders of Registrable Securities of its intention to do so. The holders of Registrable Securities shall exercise the “piggy-back” rights provided herein
by giving written notice within ten (10) days after the receipt of any such notice (which request shall specify the Registrable Securities intended to be disposed of by such holder). Except as set forth in this Section 5(b), the Company
will use its commercially reasonable best efforts to effect the registration under the Securities Act of all of the Registrable Securities which the Company has been so requested to register by such holder, to the extent required to permit the
disposition of the Registrable Securities so to be registered, by inclusion of such Registrable Securities in the registration statement which covers the securities which the Company proposes to register. The Company will pay all registration
expenses in connection with each registration of Registrable Securities pursuant to this Section 5(b). If the Company at any time proposes to register any of its securities under the Securities Act as contemplated by this Section 5(b) and
such securities are to be distributed by or through one or more underwriters, the Company will, if requested by a holder of Registrable Securities, use its commercially reasonable best efforts to arrange for such underwriters to include all the
Registrable Securities to be offered and sold by such holder among the securities to be distributed by such underwriters, provided that, if the managing underwriter of such underwritten offering shall inform the Company by letter of its belief that
inclusion 

  
 Ex. B-15 

 
in such registration statement and/or distribution of all or a specified number of such securities proposed to be distributed by such underwriters would interfere with the successful marketing of
the securities being distributed by such underwriters (such letter to state the basis of such belief and the approximate number of such Registrable Securities, such Other Shares and shares held by the Company proposed so to be registered which may
be distributed without such effect), then the Company may, upon written notice to such holder, the other holders of Registrable Securities, and holders of such Other Shares, reduce pro rata in accordance with the number of shares of Common Stock
desired to be included in such registration statement and/or distribution (if and to the extent stated by such managing underwriter to be necessary to eliminate such effect) the number of such Registrable Securities and Other Shares the registration
and/or distribution of which shall have been requested by each holder thereof so that the resulting aggregate number of such Registrable Securities and Other Shares so included in such registration and/or distribution, together with the number of
securities to be included in such registration and/or distribution for the account of the Company, shall be equal to the number of shares stated in such managing underwriter’s letter. As used herein, “Registrable Securities”
means any shares of Common Stock issuable upon the exercise of this Warrant until the date (if any) on which such shares shall have been transferred or exchanged and new certificates for them not bearing a legend restricting further transfer shall
have been delivered by the Company and subsequent disposition of the shares shall not require registration or qualification under the Securities Act or any similar state law then in force and “Majority Holders” means in excess of
fifty percent (50%) of the then outstanding Warrant Shares. 
 c) Whenever the holders of Registrable Securities have
properly requested that any Registrable Securities be registered pursuant to the terms of this Warrant, the Company shall use its commercially reasonable best efforts to effect the registration for the sale of such Registrable Securities in
accordance with the intended method of disposition thereof, and pursuant thereto the Company shall as expeditiously as possible: (a) prepare and file with the Commission a registration statement with respect to such Registrable Securities and
use its commercially reasonable best efforts to cause such registration statement to become effective; (b) notify such holders of the effectiveness of each registration statement filed hereunder and prepare and file with the Commission such
amendments and supplements to such registration statement and the prospectus used in connection therewith as may be necessary to (i) keep such registration statement effective and the prospectus included therein usable for a period commencing
on the date that such registration statement is initially declared effective by the Commission and ending on the earlier of (A) the date when all Registrable Securities covered by such registration statement have been sold pursuant to the
registration statement or cease to be Registrable Securities, or (B) nine months from the effective date of the registration statement; and (ii) comply with the provisions of the Securities Act with respect to the disposition of all
securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement; (c) furnish to such holders such number of copies of
such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus) and such other documents as such seller may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such holders; (d) use its commercially reasonable best efforts to register or qualify such Registrable 

  
 Ex. B-16 

 
Securities under such other securities or blue sky laws of such jurisdictions as such holders reasonably request and do any and all other acts and things which may be reasonably necessary or
advisable to enable such holders to consummate the disposition in such jurisdictions of the Registrable Securities owned by such holders; provided, however, that the Company shall not be required to: (i) qualify generally to do
business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph; (ii) subject itself to taxation in any such jurisdiction; or (iii) consent to general service of process in any such jurisdiction;
(e) notify such holders, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains an
untrue statement of a material fact or omits any material fact necessary to make the statements therein, in light of the circumstances in which they are made, not materially misleading, and, at the reasonable request of such holders, the Company
shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any material fact
necessary to make the statements therein, in light of the circumstances in which they are made, not materially misleading; (f) provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such
registration statement; (g) make available for inspection by any underwriter participating in any disposition pursuant to such registration statement, and any attorney, accountant or other agent retained by any such underwriter, all financial
and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, managers, employees and independent accountants to supply all information reasonably requested by any such underwriter,
attorney, accountant or agent in connection with such registration statement; (h) otherwise use its commercially reasonable best efforts to comply with all applicable rules and regulations of the Commission, and make available to its security
holders, as soon as reasonably practicable, an earnings statement of the Company, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and, at the option of the Company, Rule 158 thereunder; (i) in
the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Registrable Securities included
in such registration statement for sale in any jurisdiction, the Company shall use its commercially reasonable best efforts promptly to obtain the withdrawal of such order; and (j) if the offering is underwritten, use its commercially
reasonable best efforts to furnish on the date that Registrable Securities are delivered to the underwriters for sale pursuant to such registration, an opinion dated such date of counsel representing the Company for the purposes of such
registration, addressed to the underwriters covering such issues as are reasonably required by such underwriters. 

Section 6. Miscellaneous. 

a) No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or
other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. 

  
 Ex. B-17 

 b) Loss, Theft, Destruction or Mutilation of Warrant. The Company
covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of
indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and
deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate. 

c) Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any
right required or granted herein shall not be a Business Day, then, such action may be taken or such right may be exercised on the next succeeding Business Day. 

d) Authorized Shares. 

The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued
Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority
to its officers who are charged with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant
Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued
upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid
and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue). 

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without
limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, 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, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth
in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase
in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant. 

  
 Ex. B-18 

 Before taking any action which would result in an adjustment in the number
of Warrant Shares for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having
jurisdiction thereof. 
 e) Governing Law. All questions concerning the construction, validity, enforcement and
interpretation of this Warrant shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings
concerning the interpretations, enforcement and defense of the transactions contemplated by this Warrant (whether brought against a party hereto or their respective affiliates, directors, officers, shareholders, partners, members, employees or
agents) shall be commenced exclusively in the state and federal courts sitting in the City 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 improper or is an inconvenient venue for such proceeding. 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 via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant
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 other manner permitted by law. If either party
shall commence an action, suit or proceeding to enforce any provisions of this Warrant, the prevailing party in such action, suit or proceeding shall be reimbursed by the other party for their reasonable attorneys’ fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such action or proceeding. 
 f)
Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal
securities laws. 
 g) Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right
hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply
with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable
attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder. 

  
 Ex. B-19 

 h) Notices. Any and all notices or other communications or deliveries
to be provided by the Holders hereunder including, without limitation, any Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight
courier service, addressed to the Company, at ___________, Attention: ___________, facsimile number: _________, email address: ___________, or such other facsimile number, email address or address as the Company may specify for such purposes
by notice to the Holders. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by facsimile or e-mail, or sent by a
nationally recognized overnight courier service addressed to each Holder at the facsimile number, e-mail address or address of such Holder appearing on the books of the Company. Any notice or other
communication or deliveries hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or via
e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of
transmission, if such notice or communication is delivered via facsimile at the facsimile number or via e-mail at the e-mail address set forth in this Section on a day
that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (iv) upon actual
receipt by the party to whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any
subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. 

i) Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this
Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such
liability is asserted by the Company or by creditors of the Company. 
 j) Remedies. The Holder, in addition to being
entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss
incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate. 

k) Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced
hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from
time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares. 
 l) Amendment. This
Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder. 

  
 Ex. B-20 

 m) Severability. Wherever possible, each provision of this Warrant
shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition
or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant. 
 n)
Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant. 

******************** 

(Signature Page Follows) 

  
 Ex. B-21 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer
thereunto duly authorized as of the date first above indicated. 
  

			
	 MYOMO, INC.

		
	By:	 	  

		 	 Name:

		 	 Title:

  
 Ex. B-22 

 NOTICE OF EXERCISE 

TO: MYOMO, INC. 
 (1) The undersigned hereby
elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 (2) Payment shall take the form of (check applicable box): 

[    ] in lawful money of the United States; or 

[    ] if permitted, the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set
forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c). 

(3) Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below: 

 
  

The Warrant Shares shall be delivered to the following DWAC Account Number: 
  

 
  

 
  

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

[SIGNATURE OF HOLDER] 
  

	
	Name of Investing Entity: _______________________________________________________________________________________
	Signature of Authorized Signatory of Investing Entity: _________________________________________________________________
	Name of Authorized Signatory: ___________________________________________________________________________________
	Title of Authorized Signatory:____________________________________________________________________________________
	Date: _______________________________________________________________________________________________________

 EXHIBIT B 

ASSIGNMENT FORM 
 (To assign the
foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to 
  

					
	 Name:
	  	  
	  	                                
	 	  	(Please Print)	  	 
			
	 Address:
	  	  
	  	
		  	(Please Print)	  	
			
	 Phone Number:
	  	  
	  	
			
	 Email Address:
	  	  
	  	
			
	 Dated: _______________ __, ______
	  		  	
			
	
Holder’s Signature:              
                                    
	  		  	
			
	 Holder’s Address:EXHIBIT
10.1

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT, made as of February 8, 2019 (this “Agreement”), by and between Castle Brands Inc., a
Florida corporation (the “Company”), and Richard J. Lampen (“Executive”).

 

In
consideration of the mutual covenants set forth in this Agreement, the parties hereto agree as follows:

 

AGREEMENT:

 

1.
Employment. Subject to the terms of this Agreement, the Company agrees to employ Executive, and Executive agrees to accept
such employment, as the President and Chief Executive Officer of the Company. As such, Executive’s responsibilities will
include those normally associated with those titles in a company the size and nature of the Company. During the term of his employment
hereunder, the Company shall also nominate the Executive for re-election as a member of the Board of Directors of the Company.

 

2.
Performance of Services. Executive agrees that throughout the term of his employment hereunder he will devote such time
to his responsibilities hereunder as is necessary in his reasonable judgment and consistent with past practices, and will perform
the duties assigned to him pursuant to Section 1 hereof, subject, at all times, to the direction and control of the Board of Directors.
Executive will provide his services from his office in Miami, Florida and shall undertake such travel as is reasonably required
to fulfill his responsibilities. The Company acknowledges and agrees that during the term of his employment hereunder, consistent
with past practices, Executive may hold positions as an officer and/or director of other companies and organizations and may devote
a substantial amount of his business time to those activities.

 

3.
Term. Executive will be employed for a term commencing on February 8, 2019 (the “Effective Date”) and
ending on March 30, 2020 (the “ Initial Term”) and shall be automatically renewed for successive one (1) year
terms, (each such term a “Renewal Term” and, collectively, with the Initial Term, the “Term”),
unless (i) Executive or the Company gives to the other party written notice of such party’s intention not to renew no later
than sixty (60) days prior to the end of the Initial Term or the applicable Renewal Term, as the case may be, or (ii) Executive’s
employment is terminated prior to the expiration of the Term pursuant to Section 6 hereof.

 

4.
Compensation. During the Term of this Agreement the Company agrees to pay to Executive:

 

(a)
Salary. A salary (the “Base Salary”) at a rate, and only to the extent, authorized from time to time
by the Compensation Committee of the Board of Directors, payable in accordance with the Company’s standard payroll practices
for executives then in effect.

 

(b)
Stock Awards. Executive shall be eligible for options to purchase Common Stock of the Company or other stock awards to
the extent granted by the Compensation Committee of the Board of Directors of the Company.

 

(c)
Incentive Bonus. In each fiscal year, the Executive shall be eligible to receive an annual performance bonus and/or retention
payment (“Incentive Bonus”) which shall be based on Company profitability, individual performance and such
other factors, if any, that the Compensation Committee may deem relevant, in such amount as may be determined by the Compensation
Committee of the Board of Directors of the Company, in its sole discretion, payable in accordance with the Company’s standard
practices for executives as in effect from time to time. Any such retention payment shall be subject to the terms of the retention
agreement governing such payment, including, without limitation, with respect to the vesting thereof.

 

    	 	 	 

    	 

    

 

(d)
Other Benefits. Unless otherwise agreed, Executive will not participate in profit-sharing, hospitalization, insurance,
medical, disability, or other fringe benefit or executive perquisite plans that may otherwise be available to other senior executives
of the Company.

 

5.
Expenses. The Company will reimburse Executive for all expenses reasonably incurred by him in connection with the performance
of his duties hereunder and the business of the Company upon the submission to the Company of appropriate invoices therefor, all
in accordance with the Company’s policies and procedures as in effect from time to time for senior executives of the Company.

 

6.
Termination.

 

(a)
Termination by the Company Without Cause or Non-Renewal of Term by the Company. The Company may terminate the employment
of Executive hereunder at any time without Cause (as hereinafter defined). Notice of any such termination must be in writing and
will be effective upon receipt by Executive. In the event that (x) the employment of Executive is terminated pursuant to this
Section 6(a) or (y) the Initial Term or any Renewal Term is not renewed by the Company and if Executive fully complies with Sections
7, 9, 10 and 22 of this Agreement, (A) the Company will continue to pay to Executive the Base Salary per annum, if any, as in
effect on the date of such termination, in accordance with the standard payroll practices of the Company as in effect from time
to time, for a term of twelve (12) months immediately following the date of such termination, and (B) Executive will be entitled
to an annual Incentive Bonus pursuant to Section 4(c) of this Agreement with respect to the fiscal year ending within such twelve
(12) month period (which annual Incentive Bonus shall be the Incentive Bonus paid to the Executive for the performance period
immediately prior to the fiscal year in which the date of termination occurs, but not less than the amount of the Incentive Bonus
paid to the Executive with respect to the fiscal year ended March 31, 2018, and paid on the last day of the fiscal year during
such twelve (12) month period), which shall be paid at the same time as the annual Incentive Bonus would have been paid pursuant
to Section 4(c) of this Agreement. If Executive fully complies with Sections 7, 9, 10 and 22 of this Agreement, subject to the
terms of Executive’s option and restricted stock agreements, on the date of termination pursuant to this Section 6(a), any
tranche of unvested shares or options held by Executive that would have vested following termination shall accelerate and vest
without any further action of any kind by the Company or Executive. Further, if Executive fully complies with Sections 7, 9, 10
and 22 of this Agreement, subject to the terms of Executive’s option agreements, any stock option held by Executive that
is vested at the time of Executive’s termination pursuant to this Section 6(a) (including any portion of such option for
which vesting was accelerated pursuant to the preceding sentence) will be exercisable until the expiration of such option pursuant
to its terms.

 

(b)
Termination by the Company for Cause. The Company may terminate the employment of Executive hereunder for Cause (as hereinafter
defined). Executive shall be entitled to thirty (30) days prior written notice of the Company’s intent to terminate Executive
hereunder and the right to address and/or cure such Cause during such thirty (30) day notice period, to the extent curable. Any
notice of intent to terminate for Cause must specify the particular grounds therefor in reasonable detail. In the event that the
employment of Executive is terminated pursuant to this clause (b), the Company will pay to Executive the amount of all accrued
but unpaid Base Salary to the date of such termination, but no annual Incentive Bonus will be paid with respect to the fiscal
year in which termination occurs. As used herein, “Cause” means Executive’s (i) having committed in the
performance of his duties under this Agreement one or more acts or omissions constituting fraud, dishonesty, or willful injury
to the Company which results in a material adverse effect on the business, financial condition or results of operations of the
Company, (ii) having committed one or more acts constituting gross neglect or willful misconduct which results in a material adverse
effect on the business, financial condition or results of operations of the Company, (iii) breach of fiduciary duty, (iv) failure
to substantially perform assigned duties relating to Executive’s performance hereunder (other than any such failure owing
to Executive becoming Disabled (as hereinafter defined)) as reasonably determined by a majority of the entire Compensation Committee
of the Board of Directors of the Company, (v) conviction of, or the entry by the Executive of any plea of guilty or nolo contendere
to, any felony, (vi) material breach of any provision of this Agreement as reasonably determined by the Compensation Committee
of the Board of Directors; provided, however, that in any of the foregoing circumstances, Executive has failed to
cure such Cause, to the extent curable, within the thirty (30) day period referenced in the second sentence of this Section 6(b).

 

    	 	2	 

    	 

    

 

(c)
Termination by Executive. Executive may terminate his employment hereunder (x) at any time without cause or (y) for Good
Reason (as hereinafter defined). In the event Executive terminates employment pursuant to subclause (x) of this clause (c), notice
of any such termination must be in writing and will be effective sixty (60) days after receipt by the Company or such earlier
date as may be specified by the Company after receipt of such notice. In the event that Executive terminates employment pursuant
to subclause (x) of this clause (c), the Company will pay to Executive the amount of all accrued but unpaid Base Salary to the
date of such termination, but no annual Incentive Bonus will be paid with respect to the fiscal year in which termination occurs.
In the event that Executive terminates employment hereunder for Good Reason pursuant to subclause (y) of this clause (c) and Executive
fully complies with Sections 7, 9, 10 and 22 of this Agreement, Executive will be entitled to the same salary, benefits and bonus
payments as would be provided were he to be terminated by the Company without Cause pursuant to Section 6(a) above. Further, subject
to the terms of Executive’s option and restricted stock agreements, any tranche of unvested shares or options held by Executive
that would have vested following termination for Good Reason shall accelerate and vest without any further action of any kind
by the Company or Executive. In addition, subject to the terms of Executive’s option agreements, upon a termination by Executive
for Good Reason, any stock option held by Executive that is vested at the time of Executive’s termination (including any
portion of such option for which vesting was accelerated pursuant to the preceding sentence) will be exercisable until the expiration
date of such option pursuant to its terms. As used herein, “Good Reason” means a termination by Executive of
Executive’s employment hereunder within sixty (60) days after, without Executive’s consent (i) a material diminution
of the Executive’s title, duties or responsibilities as provided in Section 1, including without limitation, the failure
to elect or re-elect the Executive as President and Chief Executive Officer of the Company or as a member of the Board of Directors
of the Company, or the removal of the Executive from such position, (ii) any material diminution in the Executive’s Base
Salary from that in effect on the Effective Date or the most recent anniversary thereof, (iii) relocation by the Company of the
Executive’s primary office to any location more than fifty (50) miles away from Miami, Florida or (iv) the Company’s
material breach of any provision of this Agreement; provided, however, Good Reason shall only occur if the Executive gives the
Company sixty (60) days’ prior notice of his intent to terminate his employment setting forth with reasonable specificity
the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60)
days of the Executive’s knowledge (whether actual or constructive, including, without limitation, knowledge that Executive
would have reasonably obtained after making due and appropriate inquiry) of such event. Following such notice, the Company shall
have thirty (30) days to cure the event constituting Good Reason and, if not cured within such period, Executive’s termination
will be effective upon the expiration of such sixty (60) day notice period.

 

    	 	3	 

    	 

    

 

(d)
Termination Upon Death. This Agreement will terminate automatically on the death of Executive. In the event that the employment
of Executive is terminated pursuant to this Section 6(d), the Company will promptly pay to the representative of Executive the
amount of all accrued but unpaid Base Salary to the date of such termination, the annual Incentive Bonus, if any, described in
Section 4(c) with respect to the fiscal year in which termination occurs, and Base Salary, if any, for a one (1) year period,
in accordance with the standard payroll practices of the Company as in effect from time to time. Further, subject to the terms
of Executive’s option or restricted stock agreements, any tranche of unvested shares or options held by Executive that would
have vested following the time of death shall accelerate and vest without any further action of any kind by the Company or Executive.
In addition, subject to the terms of Executive’s option agreements, upon the death of Executive, any stock option held by
Executive that is vested at the time of death (including any portion of such option for which vesting was accelerated pursuant
to the preceding sentence), will be exercisable by Executive’s personal representative or estate until the expiration date
of such option pursuant to its terms.

 

(e)
Termination by the Company by Reason of Disability. The Company may terminate the employment of Executive hereunder after
Executive becomes Disabled. Notice of any such termination must be in writing and will be effective thirty (30) days after receipt
by Executive. In the event that the employment of Executive is terminated pursuant to this Section 6(e), the Company will pay
to Executive or his representative the amount of all accrued but unpaid Base Salary to the date of such termination, the annual
Incentive Bonus, if any, described in Section 4(c) with respect to the fiscal year in which termination occurs, and Base Salary
for a one (1) year period, in accordance with the standard payroll practices of the Company as in effect from time to time, reduced
by the amount, if any, received by Executive from any disability insurance maintained by the Company. Further, subject to the
terms of Executive’s option and restricted stock agreements, any tranche of unvested shares or options held by Executive
at the time of termination by reason of Disability that would have vested following the date of such termination shall accelerate
and vest without any further action of any kind by the Company or Executive. In addition, subject to the terms of Executive’s
option agreements, upon the termination by reason of Disability, any stock option held by Executive that is vested at the time
of such termination (including any portion of such option for which vesting was accelerated pursuant to the preceding sentence)
will be exercisable until the expiration date of such option pursuant to its terms. As used herein, “Disabled”
means Executive becoming physically or mentally disabled or incapacitated to the extent that he has been or will be unable to
perform his duties hereunder on account of such disabilities or incapacitation for a continuous period of six (6) months as determined
by a qualified independent physician or group of physicians selected by the Company and approved by Executive or his representative,
such approval not to be unreasonably withheld.

 

(f)
Change of Control. A “Change of Control” shall have occurred if: (i) any person (as such term is used
in Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), other than Dr. Phillip
Frost, any member of his immediate family, and any “person” or “group” (as used in Section 13(d)(3) of
the Exchange Act) that is controlled by Dr. Frost or any member of his immediate family, any beneficiary of the estate of Dr.
Frost, or any trust, partnership, corporate or other entity controlled by any of the foregoing, becomes the “beneficial
owner” (as determined pursuant to Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the Company
representing more than thirty-five percent (35%) of the aggregate voting power of the Company’s then outstanding securities,
other than by acquisition directly from the Company; (ii) there has been a merger or equivalent combination involving the Company
after which forty-nine percent (49%) or more of the voting stock of the surviving corporation is held by persons other than former
shareholders of the Company; (iii) during any period of two consecutive years, individuals who at the beginning of such period
were members of the Board of Directors of the Company cease for any reason to constitute at least a majority thereof (unless the
appointment, election, or the nomination for election by the Company’s stockholders, of each director elected during such
consecutive two-year period was approved by a vote of at least two-thirds of the directors then still in office who were directors
at the beginning of such period); or (iv) the Company sells or disposes of all or substantially all of its assets. In the event
that the employment of Executive is terminated in connection with, or during the twenty-four (24) month period following, a Change
in Control either by the Executive for Good Reason or by the Company or its successor without Cause, the Company or its successor,
as applicable, will pay to Executive in a lump sum (x) an amount equal to one times the Base Salary per annum as in effect on
the date of such termination plus (y) an amount equal to one times the annual Incentive Bonus described in Section 4(c), which
Incentive Bonus shall be the Incentive Bonus paid to the Executive for the performance period immediately prior to the fiscal
year in which the date of termination occurs, but not less than the amount of the Incentive Bonus paid to the Executive with respect
to the fiscal year ended March 31, 2018. For the avoidance of doubt, in the event of any such payments pursuant to this Section
6(f), no additional payments shall be made to Executive pursuant to Section 6(a) or 6(c).

 

    	 	4	 

    	 

    

 

(g)
Release and No Further Obligations. Notwithstanding any provision herein to the contrary, the payments and other consideration
provided to Executive under Section 6(a) or (c) (collectively, the “Severance Benefits”) shall be conditioned upon
Executive’s execution, delivery to the Company, and non-revocation of the form of general release (the “Release”)
attached hereto as Exhibit A (and the expiration of any revocation period contained in such Release) within sixty (60)
days following the date of Executive’s termination of employment hereunder. If Executive fails to execute the Release in
such a timely manner so as to permit any revocation period to expire prior to the end of such sixty (60) day period, or timely
revokes his acceptance of such Release following its execution, Executive shall not be entitled to any of the Severance Benefits.
Except as otherwise expressly provided in this Agreement and any indemnification, stock option agreements or restricted stock
agreements, by and between the Company and Executive, from and after the effective date of any termination of Executive’s
employment hereunder pursuant to this Section 6, the Company will have no further obligations (for the payment of money or otherwise)
to Executive or his representative, as applicable, except for continuing obligations by the Company or its successor to indemnify
Executive in his capacity as an officer of the Company. If the general release is executed and delivered and no longer subject
to revocation, then the following shall apply:

 

(i)
To the extent any such cash payment to be made is not “deferred compensation” for purposes of Code Section 409A, then
such payment shall commence upon the first scheduled payment date immediately after the date the general release is executed and
no longer subject to revocation (the “Release Effective Date”). The first such cash payment shall include payment
of all amounts that otherwise would have been due prior to the Release Effective Date under the terms of this Agreement applied
as though such payments commenced immediately upon the termination of Executive’s employment, and any payments made after
the Release Effective Date shall continue as provided herein. The delayed payments shall in any event expire at the time such
payments would have expired had such payments commenced immediately following the termination of Executive’s employment.

 

(ii)
To the extent any such cash payment to be made is “deferred compensation” for purposes of Code Section 409A, then
such payment shall be made or commence upon the sixtieth (60th) day following the termination of Executive’s employment
with interest, to be determined by applying the prime rate published in the Wall Street Journal on the date of the Executive’s
termination of employment or if such date is not a business day, then the next business day. The first such cash payment shall
include payment of all amounts that otherwise would have been due prior thereto under the terms of this Agreement had such payments
commenced immediately upon the termination of Executive’s employment and any payments made after the sixtieth (60th) day
following the termination of Executive’s employment shall continue as provided herein. The delayed payments shall in any
event expire at the time such payments would have expired had such payments commenced immediately following the termination of
Executive’s employment.

 

    	 	5	 

    	 

    

 

(h)
Specified Employee. Notwithstanding anything to the contrary in this Agreement, if the Executive is deemed on the date
of termination of employment to be a “specified employee” within the meaning of that term in Section 409A(a)(2)(B),
then with regard to any payment or the provision of any benefit that is considered deferred compensation under Section 409A payable
on account of “separation from service”, no such payment or benefit distribution will be made to the Executive prior
to the earlier of (i) the expiration of the six (6)-month period measured from the date of the Executive’s “separation
from service” (as such term is defined for purposes of Section 409A) or (ii) the date of the Executive’s death, to
the extent such delayed commencement is otherwise required in order to avoid a prohibited distribution under Section 409A. All
payments and benefits which had been delayed pursuant to the immediately preceding sentence shall be paid (with interest, to be
determined by applying the prime rate published in the Wall Street Journal on the date of the Executive’s termination of
employment or if such date is not a business day, then the next business day) to the Employee in a lump sum upon expiration of
such six-month period (or if earlier upon the Employee’s death).

 

7.
Confidentiality.

 

(a)
Executive will not, at any time following the Effective Date, regardless of whether Executive continues to be employed by the
Company and, if Executive’s employment has been terminated, regardless of the manner, reason, time or cause thereof, directly
or indirectly reveal, report, publish, disclose, transfer or furnish to any person not entitled to receive the same for the immediate
benefit of the Company any Proprietary Information (as hereinafter defined). The term “Proprietary Information”
means all information of any nature whatsoever, and in any form, which at the time or times concerns or relates to any aspect
of any business that the Company, or its direct or indirect subsidiaries are involved in or actively contemplating (the “Business”)
and which is confidential or proprietary to the Company. Proprietary Information includes, but is not limited to, items, materials
and information concerning the following: marketing plans or strategies; budgets; designs; promotional strategies; client preferences
and policies; creative activities for clients; concepts; intellectual property and trade secrets; product plans; financial information
and all documentation, reports and data (recorded in any form) relating to the foregoing. Notwithstanding the foregoing, “Proprietary
Information” does not include any information to the extent it becomes publicly known through no fault of Executive or any
information which Executive is required to disclose as a result of a subpoena or other legal process.

 

(b)
Executive agrees that all memoranda, notes, records, papers or other documents, computer disks, computer software programs and
the like and all copies thereof, relating to the Business (the “Business Records”) are and will be the sole
and exclusive property of the Company or its direct or indirect subsidiaries, as the case may be. Except for use for the benefit
of the Company or its direct or indirect subsidiaries, Executive will not copy or duplicate any of the Business Records, nor remove
them from the facilities of the Company or its direct or indirect subsidiaries, as the case may be. Executive must comply with
any and all procedures which the Company or its direct or indirect subsidiaries may adopt from time to time to preserve the confidentiality
of Proprietary Information and the confidentiality of property of the types described immediately above, whether or not such property
contains a legend indicating its confidential nature.

 

(c)
Upon termination of Executive’s employment with the Company for any reason whatsoever and at any other time upon the Company’s
request, Executive (or his personal representative) must deliver to the Company all property described in this Section 7 which
is in his possession or control.

 

(d)
Notwithstanding anything contained herein or in any other Company policy or agreement, Executive shall not be prohibited from
reporting suspected violations of law or regulation to any governmental agency, regulatory body, self-regulatory organization,
or law enforcement agency, including but not limited to the SEC (collectively a “law enforcement entity”), from making
any other disclosures that are protected under any law or regulation, from participating or cooperating in any inquiry, investigation,
or proceeding conducted by such law enforcement entity, or from making other disclosures that are protected under state or federal
law or regulation, or receiving an award for information provided to any such law enforcement entity.

 

    	 	6	 

    	 

    

 

8.
Representation and Warranty. Executive represents and warrants to the Company that he is not a party to any employment
agreement or other agreement which restricts, interferes with or impairs, or which might be claimed to restrict, interfere with
or impair, in any way, Executive’s use of any information or Executive’s execution or performance of this Agreement.

 

9.
Discoveries and Improvements. Executive acknowledges and agrees that all inventions, discoveries, and improvements, whether
patentable or unpatentable, made, devised, or discovered by Executive, whether by himself, or jointly with others, from the date
hereof until the expiration of the Term hereof, reasonably deemed to be directly related to or pertaining in any way to the Business,
will be promptly disclosed in writing to the General Counsel of the Company and will be the sole and exclusive property of the
Company. Executive agrees to execute any assignments to the Company or its nominee of his entire right, title, and interest in
and to any such inventions, discoveries, and improvements and to execute and deliver at the cost of the Company any other instruments
and documents that may be requested by the Company that are requisite or desirable in applying for and obtaining patents, copyrights
or trademarks, with respect thereto in the United States and in all foreign countries. Executive further agrees, whether or not
in the employ of the Company, to cooperate, to the extent and in the manner requested by the Company, in the prosecution or defense
of any patent, trademark or copyright claims or any litigation or other proceeding involving any inventions, trade secrets, processes,
discoveries, or improvements covered by this Agreement, provided that all expenses thereof shall be paid by the Company.

 

10.
Restrictive Covenants.

 

(a)
Executive acknowledges and agrees that his position with the Company places him in a position of confidence and trust with respect
to Proprietary Information. Executive consequently agrees that it is reasonable and necessary for the protection of the goodwill
of the Business that Executive make the covenants contained herein. Accordingly, Executive agrees that, during the Term of this
Agreement and for a period of twelve (12) months after the date of expiration or termination of Executive’s employment hereunder
for any reason whatsoever, Executive will not, without the prior written consent of the Company and provided that the Company
has not failed to make any payments to the Executive when due in accordance with the provisions of Section 6 hereof and otherwise
comply with the terms and conditions of this Agreement, (i) employ, solicit or encourage to leave the employ of the Company, or
to become employed by any person other than the Company, any employee of the Company, (ii) persuade or attempt to persuade any
customer of the Company as of the date of the termination or expiration of Executive’s employment, to cease doing business
with, or to reduce the amount of business it does with, the Company, or solicit the business of any of the Company’s customers
as of the date of the termination or expiration of Executive’s employment, with respect to any product or service which
competes with the products and services of the Company as of the date of termination of Executive’s employment or (iii)
compete with the Company as a consultant to, employee of, or equity participant in, any venture which competes with the Business
within the United States of America. No provision of this Section 10 shall prohibit Executive from merely owning (i.e., having
no participation or involvement in the management) no more than three percent (3%) of the outstanding equity securities of any
actively traded public entity. Notwithstanding anything contained herein to the contrary, in the event that Executive’s
employment is terminated by Executive for Good Reason or by the Company or any successor without Cause in connection with, or
during the twenty-four (24) month period following, a Change of Control, the provisions of Sections 10 and 22 of this Agreement
shall not apply to Executive.

 

    	 	7	 

    	 

    

 

(b)
Executive has carefully considered the nature and extent of the restrictions upon him and the rights and remedies conferred upon
the Company under Sections 10 and 11 of this Agreement and hereby acknowledges and agrees that the same are reasonable in time
and territory, are designed to avoid competition which otherwise would be unfair to the Company, do not stifle the inherent skill
and experience of Executive, would not operate as a bar to Executive’s sole means of support, are required to protect the
legitimate interests of the Company and do not confer a benefit upon the Company disproportionate to the benefit otherwise afforded
Executive by this Agreement.

 

11.
Certain Remedies. The parties hereto acknowledge that, in the event of a breach or a threatened breach by Executive of
any of his obligations under Sections 7, 9, 10 or 22 of this Agreement, the Company will not have an adequate remedy at law. Accordingly,
in the event of any such breach or threatened breach by Executive, the Company will be entitled to such equitable and injunctive
relief as may be available to restrain Executive and any business, firm, partnership, individual, corporation or entity participating
in such breach or threatened breach from the violation of the provisions hereof, and nothing herein will be construed as prohibiting
the Company from pursuing any other remedies available at law or in equity for such breach or threatened breach, including the
recovery of damages.

 

12.
Notices. All notices hereunder must be in writing and addressed to the General Counsel of the Company at 122 East 42nd
Street, Suite 5000, New York, NY, 10168 and to Executive at the address provided by Executive to the Company. Each such
address for notice may be changed by notice of such change given to the other party hereto. All such notices will be effective
upon receipt.

 

13.
Entire Agreement. This Agreement, together with any agreements executed by the Company and Executive in respect of indemnification
or awards under any equity, benefit or welfare plan, constitutes the entire understanding and agreement of the parties hereto
regarding the employment of Executive. This Agreement supersedes all prior negotiations, discussions, correspondence, communications,
understandings and agreements between the parties relating to the subject matter of this Agreement.

 

14.
Governing Law/Arbitration. This Agreement will be governed, interpreted and construed according to the internal laws of
the State of Florida without regard to conflict of laws principles. Any controversy or claim arising out of, or relating to, this
Agreement or the breach thereof, must be promptly settled by arbitration by a panel of three (3) arbitrators in Miami, Florida,
in accordance with the Commercial Rules of the American Arbitration Association then in effect, and judgment upon the award rendered
may be entered in any court having jurisdiction thereof. It is expressly understood that the arbitrators will have the authority
to grant legal and equitable relief, including both temporary restraints and preliminary injunctive relief to the same extent
as could a court of competent jurisdiction, and that the arbitrators are empowered to order either side to fully cooperate in
promptly resolving any controversies or claims under this Agreement. Notwithstanding the foregoing, in the event of a breach or
threatened breach by Executive of any provision of Section 7, 9, 10 or 22 of this Agreement, the Company will be entitled to seek
an injunction from any court of competent jurisdiction in Miami-Dade County, Florida and Executive hereby submits to the personal
jurisdiction of any such court.

 

15.
Severability. Should any part of this Agreement be held or declared to be void or illegal for any reason by an arbitrator
or court of competent jurisdiction, such provision will be ineffective, but all other parts of this Agreement which can be effected
without such illegal part will nevertheless remain in full force and effect. In such a case, the parties shall, and the court
of competent jurisdiction may, replace the invalid provision with a legally permissible arrangement, which comes nearest to the
intended purpose of the invalid provision.

 

16.
Headings. The Section headings contained in this Agreement are for reference purposes only and will not affect the meaning
or interpretation of this Agreement.

 

    	 	8	 

    	 

    

 

17.
Withholding. Anything to the contrary notwithstanding, all payments required to be made by the Company hereunder to Executive
will be subject to withholding of such amounts relating to taxes (whether or not related to payments required to be made by the
Company hereunder) as the Company may reasonably determine it should withhold pursuant to any applicable law or regulation.

 

18.
Counterparts. This Agreement may be executed in one or more counterparts, each of which will be deemed to be an original,
but all of which will collectively constitute a single original.

 

19.
No Reliance; Opportunity to Consult with Counsel. The parties hereto each represent to the other that in executing this
Agreement each does not rely upon, and has not relied upon, any representation or statement not set forth herein with regard to
the subject matter, basis or effect of this Agreement or otherwise. Executive acknowledges that he has had an opportunity to consult
with an attorney of his choice prior to executing this Agreement.

 

20.
No Assignment. Neither this Agreement nor the right to receive any payments hereunder may be assigned by Executive except
as provided for herein. This Agreement will be binding upon Executive, his heirs, executors and administrators and upon the Company,
its successors and assigns.

 

21.
No Duty to Mitigate. Executive shall not be required to mitigate the amount of any damages that Executive may incur or
other payments to be made to Executive hereunder as a result of any termination or expiration of this Agreement, nor shall any
payments to Executive be reduced by any other payments Executive may receive.

 

22.
Non-Disparagement. Executive agrees not to publicly criticize, denigrate or disparage the Company, its past and present
direct and indirect subsidiaries, affiliates, successors, assigns and all of their past and present employees, officers and directors.
The Company agrees not to, and to use commercially reasonable efforts to cause its past and present direct and indirect subsidiaries,
affiliates, successors, assigns and all of their past and present employees, officers and directors not to, publicly criticize,
denigrate or disparage Executive.

 

23.
Survival. The provisions of Sections 6, 7, 9, 10, 11, 13, 14, 15, 17, 20, 21, 22 and this Section 23 will survive the termination
or expiration of this Agreement.

 

24.
Waiver. A delay or failure by either party to require strict performance by the other party of any undertakings or agreements
contained in this Agreement will not waive, affect or diminish any right of such party thereafter to demand strict compliance
and performance therewith. Any waiver by either party of any default by the other party under this Agreement will not waive or
affect any other such default, whether such default is prior or subsequent thereto and whether of the same or a different type.

 

25.
Compliance with Section 409A.

 

(i)
The intent of the parties is that payments and benefits under this Agreement comply with Internal Revenue Code Section 409A and
the regulations and guidance promulgated thereunder (collectively “Code Section 409A”) so as not to subject
Executive to the payment of the additional tax, interest and any tax penalty which may be imposed under Section 409A and, accordingly,
to the maximum extent permitted, this Agreement shall be interpreted and administered to be in compliance therewith.

 

(ii)
A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for
the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation
from service” within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references
to a “termination,” “termination of employment,” “termination of the Employment Period” or
like terms shall mean “separation from service.”

 

    	 	9	 

    	 

    

 

(iii)
All expenses or other reimbursements under this Agreement shall be made on or prior to the last day of the taxable year following
the taxable year in which such expenses were incurred by Executive (provided that if any such reimbursements constitute taxable
income to Executive, such reimbursements shall be paid no later than March 15th of the calendar year following the calendar year
in which the expenses to be reimbursed were incurred), and no such reimbursement or expenses eligible for reimbursement in any
taxable year shall in any way affect the expenses eligible for reimbursement in any other taxable year.

 

(iv)
For purposes of Code Section 409A, Executive’s right to receive any installment payment pursuant to this Agreement shall
be treated as a right to receive a series of separate and distinct payments. Whenever a payment under this Agreement specifies
a payment period with reference to a number of days (e.g., “payment shall be made within thirty (30) days following
the date of termination”), the actual date of payment within the specified period shall be within the sole discretion of
the Company.

 

    	 	10	 

    	 

    

 

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

 

	Castle
    Brands Inc.  	 	Executive
	 	 	 	 	 
	By:
    	/s/
    Alfred J. Small	 	By:
    	/s/
    Richard J. Lampen
	Name:
    	Alfred
    J. Small	 	Name:	Richard
    J. Lampen
	Title:
    	Chief
    Financial Officer	 	 	 

 

	Acknowledged:	 
	 	 	 
	By:	/s/
    Dr. Richard Krasno	 
	Name:	Dr.
    Richard Krasno	 

 

    	 	11	 

    	 

    

 

EXHIBIT
A

 

Form
of General Release

 

GENERAL
RELEASE

 

1.
(a) As a condition to and in consideration of the payments and benefits described in Section 6 of the Employment Agreement, dated
as of February 8, 2019, between Castle Brands Inc. and me relating to my employment with Castle Brands Inc., and for other good
and valuable consideration, I, with the intention of binding myself and my heirs, beneficiaries, trustees, administrators, executives,
assigns and legal representatives (collectively, the “Releasors”), hereby irrevocably and unconditionally release,
remise, and forever discharge Castle Brands Inc. and the Releasees (as defined in Section 1(b)) with respect to any and all agreements,
promises, rights, debts, liabilities, claims, causes of action and demands of any kind whatsoever (upon any legal or equitable
theory, whether contractual, common law, or statutory, under federal, state or local law or otherwise), whether known or unknown,
asserted or unasserted, fixed or contingent, apparent or concealed, that the Releasors ever had, now have or hereafter can, shall
or may have for, upon, or by reason of any matter, cause or thing whatsoever existing, accruing, arising or occurring at any time
on or prior to the date I execute this General Release, including, without limitation, (i) any and all rights and claims arising
out of or in connection with my employment by Castle Brands Inc., the terms and conditions of such employment, or the termination
of my employment; (ii) any and all contract claims, claims for bonuses, claims for severance allowances or entitlements; (iii)
fraud claims, defamation, disparagement and other personal injury and tort claims; and (iv) claims under any federal, state, or
municipal employee benefit, wage payment, discrimination, or fair employment practices law (e.g., on the basis of sex, religion,
age, race, or disability), statute, or regulation, and claims for costs and expenses (including but not limited to experts’
fees and attorneys’ fees) with respect thereto. This General Release includes, without limitation, any and all rights and
claims under the Title VII of the Civil Rights Act of 1964, as amended, the Employee Retirement Income Security Act of 1974, the
Americans with Disabilities Act of 1990, the U.S. Pregnancy Discrimination Act, the U.S. Family and Medical Leave Act, the U.S.
Fair Labor Standards Act, the U.S. Equal Pay Act, The Workers Adjustment and Notification Act, the Equal Pay Act of 1963, the
Age Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act of 1990, the Civil Rights Act of 1866,
the Family and Medical Leave Act of 1993, the Civil Rights Act of 1991, the New York Conscientious Employee Protection Act, the
New York Equal Pay Act, the New York Smokers’ Rights Law, the New York Family Leave Act, the New York Genetic Privacy Act,
the New York Constitution, and all other federal, state and local laws, in each case as such laws have been or may be amended.
Nothing in this General Release shall deprive me of any compensation that was earned but not paid prior to my termination; accrued
benefits to which I have acquired a vested right under any employee benefit plan or policy, stock plan or deferred compensation
arrangement; any other benefits or any health care continuation coverage to the extent required by applicable law; or any right
that I may have under the Employment Agreement dated February 8, 2019, as amended.

 

(b)
For purposes of this General Release, the term “Castle Brands Inc. and the Releasees” includes Castle Brands
Inc., its past and present direct and indirect subsidiaries, affiliates, successors, assigns, and all of its and their past, preset,
and future employees, officers, directors, attorneys, agents, and legal representatives, whether acting as agents or in individual
capacities, and this General Release shall inure to the benefit of and shall be binding and enforceable by all such entities and
individuals.

 

2.
Notwithstanding anything to the contrary in this General Release, in the event that any of the parties released under this General
Release initiates a lawsuit or other claim (each, an “Original Lawsuit or Claim”) against any of the Releasors,
the Releasors may counterclaim or bring any lawsuit or other claim against such released party and/or Castle Brands Inc. and/or
its subsidiaries so long as such counterclaim, lawsuit or other claim is related to the Original Lawsuit or Claim. Except as specifically
stated in this Section 2, this Section 2 shall not affect the other provisions of this General Release

 

3.
(a) Opportunity to Review. I acknowledge that before signing this General Release, I was given a period of at least forty-five
(45) days in which to review and consider it. I acknowledge that I was encouraged by Castle Brands Inc. to review this General
Release, and that to the extent I wish to do so I have done so. I further acknowledge that I have read this General Release in
its entirety, and that I fully understand the terms and legal effect of this General Release. I am entering into this General
Release voluntarily and of my own free will. If I executed this General Release before the end of the forty-five (45) day period,
such early execution was completely voluntary, and I had reasonable and ample time in which to review this General Release.

 

(b)
Revocability. I agree that, for a period of seven days after I sign this General Release (the “Revocation Period”),
I have the right to revoke it by providing notice, in writing (delivered by hand or by overnight mail), to Castle Brands Inc.,
Attention: General Counsel. Notwithstanding anything contained herein to the contrary, this General Release will not become effective
and enforceable until after the expiration of the Revocation Period.

 

	Date
    signed:	 
	 	 	 
	 	 	 
	Name:

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