Document:

Exhibit 10.13

 

Exclusive Business Cooperation Agreement

 

This Exclusive Business Cooperation Agreement (this “Agreement”) is made and entered into by and between the following parties on September 15, 2014 in Beijing, the People’s Republic of China (“China” or the “PRC”, excluding Hong Kong SAR, Macau SAR and Taiwan region solely for the purpose of this Agreement).

 

Party A:            Ku Tian Xia (Beijing) Information Technology Co., Ltd.

 

Address:             Suite 2407, Building 31, No. 25, Yuetan North Street, Xicheng District, Beijing

 

Party B:            Beijing Wo Mai Wo Pai Auction Co., Ltd.

 

Address:             No. 9, Floor 1, Building 18, Chaoyangmen South Street, Dongcheng District, Beijing

 

Each of Party A and Party B shall be hereinafter individually referred to as a “Party” and collectively as the “Parties”.

 

Whereas,

 

1.                  Party A is a wholly foreign owned enterprise established in China and has the necessary resources to provide relevant technical and consulting services hereunder;

 

Strictly Confidential

 

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2.                  Party B is a company established in China with exclusively domestic capital and is permitted to engage in the auction business by relevant PRC government authorities.  The businesses conducted by Party B currently and any time during the term of this Agreement are collectively referred to as the “Principal Business”;

 

3.                  Party A is willing to provide Party B with technical support, consulting services and other services (the “Exclusive Services”) on an exclusive basis in relation to the Principal Business during the term of this Agreement, utilizing its advantages in technology, human resources, and information, and Party B is willing to accept such Exclusive Services provided by Party A or Party A’s designee(s), each on the terms set forth herein.

 

Now, therefore, through mutual discussion, the Parties have reached the following agreements:

 

1.                  Services Provided by Party A

 

1.1                               Subject to the terms and conditions herein, Party B hereby appoints Party A as Party B’s Exclusive Services provider to provide Party B with Exclusive Services as set forth in a comprehensive manner during the term of this Agreement, including but not limited to:

 

(1)                      Technical service and business consulting;

 

(2)                      Design, installation, daily management, maintenance and updating of computer network system, hardware and database;

 

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(3)                      Licensing Party B to use any software legally owned by Party A;

 

(4)                      Technical support and training for employees of Party B;

 

(5)                      Assistance to Party B in consulting, collection and research of technology and market information (excluding market research business that wholly foreign-owned enterprises are prohibited from conducting under PRC law);

 

(6)                      Lease of equipments or properties; and

 

(7)                      Other services requested by Party B from time to time to the extent permitted under PRC law.

 

1.2                               Party B agrees to accept all the Exclusive Services provided by Party A.  Party B further agrees that unless otherwise obtaining Party A’s prior written consent, during the term of this Agreement, Party B shall not directly or indirectly accept the same or any similar services provided by any third party and shall not enter into any similar cooperative relationship with any third party regarding the Exclusive Services and the relevant matters contemplated herein.  The Parties acknowledge that Party A may appoint designees, who may enter into certain agreements described in Section 1.3 with Party B, to provide Party B with the Exclusive Services hereunder.

 

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1.3                               Manners of Providing Exclusive Services

 

1.3.1                     The Parties agree that during the term of this Agreement, where necessary, Party B may further enter into technical service agreements, consulting service agreements and other agreements to specify the contents, manner, personnel, and expenses of the multiple Exclusive Services with Party A or its designees,.

 

1.3.2                     To facilitate the performance of this Agreement, the Parties agree that Party B may enter into equipment or property lease agreements with Party A or its designees granting Party B to use Party A’s relevant equipment or property from time to time during the term of this Agreement, as the case may be, based on the needs of the business of Party B.

 

1.3.3                     Party B hereby grants to Party A an irrevocable and exclusive option to purchase from Party B, at Party A’s sole discretion, any or all of the assets and business of Party B, to the extent permitted under PRC law, at the lowest purchase price permitted by PRC law.  The Parties shall then enter into a separate assets or business transfer agreement, specifying the terms and conditions of the transfer thereunder.

 

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2.                  The Calculation and Payment of the Service Fees

 

2.1                               The fees payable by Party B to Party A regarding the Exclusive Services (the “Service Fee”) during the term of this Agreement shall be calculated as follows:

 

2.1.1                     Party B shall pay Service Fee to Party A on a monthly basis, which shall consist of management fee and service fee as determined by the Parties through consultations regarding the following factors:

 

(1)                                 Complexity and difficulty of the services provided by Party A;

 

(2)                                 Title of and time consumed by employees of Party A providing the services;

 

(3)                                 Contents and commercial value of the services provided by Party A;

 

(4)                                 Market price of the same type of services;

 

(5)                                 Status of operation of Party B.

 

2.1.2                     If Party A transfers technology to Party B or conducts software or other technological development as entrusted by Party B or leases equipments or properties to Party B, the technology 

 

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transfer price, entrusted development fees or rent shall be determined by the Parties based on the actual situations.

 

3.                  Intellectual Property Rights and Confidentiality Clauses

 

3.1                               Party A shall have exclusive and proprietary ownership, rights and interests in any and all intellectual properties arising out of or created during the performance of this Agreement, including but not limited to copyrights, patents, patent application rights, software, trade secrets, commercial secrets and other rights and interests.  Party B shall execute all appropriate documents, take all appropriate actions, submit all filings and/or applications, provide all appropriate assistance and otherwise conduct whatever is necessary as deemed by Party A at its sole discretion for the purposes of vesting in Party A any ownership, right or interest of any such intellectual property rights, and/or perfecting the protection of any such intellectual property rights for the benefit of Party A.

 

3.2                               The Parties acknowledge that the existence of this Agreement, the terms and provisions hereunder and any oral or written information exchanged between the Parties in connection with the preparation and performance of this Agreement are regarded as confidential information.  Each Party shall maintain confidentiality of all such confidential information, and without obtaining the prior written consent of the other Party, it shall not disclose any relevant 

 

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confidential information to any third party, except for the information that: (a) is or will be in the public domain (other than through the receiving Party’s unauthorized disclosure); (b) is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) is required to be disclosed by any Party to its shareholders, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, directors, employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.  Disclosure of any confidential information by the shareholders, director, employees of or agencies engaged by any Party shall be deemed disclosure of such confidential information by such Party and such Party shall be held liable for breach of this Agreement.

 

4.                  Representations and Warranties

 

4.1                               Party A hereby represents, warrants and covenants as follows:

 

4.1.1                     Party A is a wholly foreign owned enterprise legally established and validly existing in accordance with PRC law.

 

4.1.2                     Party A has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from any third parties and government authorities (if required) for the execution, delivery and performance of this Agreement.   Party A’s execution, delivery and performance of this Agreement do not violate any explicit provisions under PRC law.

 

4.1.3                     This Agreement constitutes Party A’s legal, valid and binding obligations, enforceable against it in accordance with the terms and provisions hereunder.

 

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4.2                               Party B hereby represents, warrants and covenants as follows:

 

4.2.1                     Party B is a company legally established and validly existing in accordance with PRC law and has obtained and will maintain all the requisite governmental permits and licenses to engage in the Principal Business.

 

4.2.2                     Party B has taken all necessary corporate actions, obtained all necessary authorizations as well as all consents and approvals from third parties and governmental authorities (if required) for the execution, delivery and performance of this Agreement.  Party B’s execution, delivery and performance of this Agreement do not violate any explicit provisions under PRC law.

 

4.2.3                     This Agreement constitutes Party B’s legal, valid and binding obligations, and shall be enforceable against it in accordance with the terms and provisions hereunder.

 

5.                  Term of Agreement

 

5.1                               This Agreement shall become effective upon execution by the Parties.  Unless otherwise terminated in accordance with the provisions herein or terminated in writing by Party A, this Agreement shall remain effective.

 

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5.2                               During the term of this Agreement, each Party shall timely renew its business term prior to the expiration thereof so as to enable this Agreement to remain continuously effective.  This Agreement shall be terminated as of the expiration date of the business term of a Party if the application for the renewal of its business term is not permitted or approved by any competent government authorities.

 

5.3                               The rights and obligations of the Parties under Sections 3, 6, 7 and this Section 5.3 shall survive the termination of this Agreement.

 

6.                  Governing Law and Resolution of Disputes

 

6.1                               The execution, effectiveness, construction, performance, amendment and termination of this Agreement and the resolution of disputes hereunder shall be governed by PRC law.

 

6.2                               In the event of any dispute with respect to the construction and performance of this Agreement, the Parties shall first resolve the dispute through friendly negotiations.  In the event the Parties fail to reach an agreement on the dispute within 30 days after either Party’s request to the other Party for resolution of the dispute through negotiations, either Party may submit the relevant dispute to the China International Economic and Trade Arbitration Commission for arbitration, in accordance with its arbitration rules.  The arbitration shall be conducted in Beijing.  The arbitration award shall be final and binding on both Parties.

 

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6.3                               Upon the occurrence of any dispute arising from the construction and performance of this Agreement or during the pending arbitration of any dispute, except for the matters under dispute, the Parties shall continue to exercise their respective rights and perform their respective obligations under this Agreement.

 

7.                  Breach and Indemnification

 

7.1                               If Party B conducts any material breach of any term of this Agreement, Party A shall have right to terminate this Agreement and/or request damages from Party B.  This Section 7.1 shall not prejudice any other rights of Party A herein.

 

7.2                               Unless otherwise required by applicable laws, Party B shall not have any right to terminate this Agreement in any event.

 

7.3                               Party B shall indemnify and hold harmless Party A from and against any and all losses, damages, liabilities or expenses arising from or incurred by any lawsuits, claims or other demands against Party A in the process of providing the Exclusive Services by Party A to Party B under this Agreement, unless such losses, damages, liabilities or expenses otherwise result from the gross negligence or willful misconduct of Party A.

 

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8.                  Force Majeure

 

8.1                               In the case of any force majeure events (“Force Majeure Event”) such as earthquake, typhoon, flood, fire, epidemic, war, strikes or any other events that cannot be predicted and are unpreventable and unavoidable by the affected Party, preventing such affected Party from performing this Agreement in whole or in part, such affected Party shall deliver the other Party a written notice without any delay, and shall provide details evidencing the reasons for its failure of the performance of this Agreement in whole or in part arising from such Force Majeure Event within 15 days upon the delivery of such notice.

 

8.2                               If the Party claiming a Force Majeure Event fails to notify and provide adequate proof to the other Party subject to Section 8.1, such Party shall not be exempted from its failure of performance of its obligations in whole or in part hereunder.  The Party so affected by the Force Majeure Event shall use reasonable efforts to minimize the consequences arising from such Force Majeure Event and to promptly resume the performance hereunder whenever the causes of exempting such non-performance are cured.  Should the Party so affected by the Force Majeure Event fail to resume the performance hereunder when the causes of such excuse are cured, such Party shall be liable to the other Party.

 

8.3                               In the event of a Force Majeure Event, the Parties shall immediately consult with each other to find an equitable solution and shall use all as reasonable efforts as possible to minimize the consequences arising from such Force Majeure Event.

 

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9.                  Notification

 

9.1                               All notices and other communications required or permitted to be given pursuant to this Agreement shall be delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the address of such Party set forth below.  A confirmation copy of each notice shall also be sent by email.  The dates on which notices shall be deemed to have been effectively given shall be determined as follows:

 

9.1.1                     Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed effectively given on the date of receipt or refusal at the address specified for notices.

 

9.1.2                     Notices given by facsimile transmission shall be deemed effectively given on the date of successful transmission (as evidenced by an automatically generated confirmation of transmission).

 

9.2                               For the purpose of notices, the addresses of the Parties are as follows:

 

Party A:                     Ku Tian Xia (Beijing) Information Technology Co., Ltd.

 

Address:       Suite 2407, Building 31, No. 25, Yuetan North Street, Xicheng District, Beijing

 

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Attn:                                         Li Rixue

 

Phone:                               010-85894218

 

Party B:                     Beijing Wo Mai Wo Pai Auction Co., Ltd.

 

Address:                      No. 9, Floor 1, Building 18, Chaoyangmen South Street, Dongcheng District, Beijing

 

Attn:                                         Li Rixue

 

Phone:                               010-85894218

 

9.3                               Any Party may at any time change its address for notices by a notice delivered to the other Party in accordance with Section 9 hereof.

 

10.           Assignment

 

10.1                        Without Party A’s prior written consent, Party B shall not assign its rights and obligations in whole or in part under this Agreement to any third party.

 

10.2                        Party B hereby agrees that Party A may assign its obligations and rights under this Agreement to any third party and in case of such assignment, Party A is only required to give a written notice to Party B without any need of obtaining any consent from Party B for such assignment.

 

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11.           Severability

 

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any aspect.  The Parties shall negotiate in good faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the economic effect of those invalid, illegal or unenforceable provisions.

 

12.           Amendments and Supplements

 

Any amendments and supplements to this Agreement shall be in writing.  The amendment agreements and supplemental agreements that have been executed by the Parties in relation to this Agreement shall be an integral part of this Agreement and shall have the same legal validity as this Agreement.

 

13.           Language and Counterparts

 

This Agreement is written in both Chinese and English language in two copies, each Party having one copy.  The Chinese version and English version shall have equal legal validity.  In the case of any conflict between the Chinese version and the English version, the Chinese version shall prevail.

 

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[The Remainder of This Page is Left Intentionally Blank]

 

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IN WITNESS WHEREOF, the Parties have caused their authorized representatives to execute this Exclusive Business Cooperation Agreement as of the date first above written.

 

 

Party A:                        Ku Tian Xia (Beijing) Information Technology Co., Ltd.

 

	
(Company   Seal)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   LI Rixue
    	
 
    
	
Name:
    	
LI Rixue
    	
 
    
	
Title:
    	
Legal Representative
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    
	
Party   B:                        Beijing Wo Mai Wo Pai   Auction Co., Ltd.
    	
 
    
	
 
    	
 
    
	
(Company Seal)
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ LI Rixue
    	
 
    
	
Name:
    	
LI Rixue
    	
 
    
	
Title:
    	
Legal   Representative
    	
 
    

 

Signature Page to Exclusive Business Cooperation AgreementPURE
BIOSCIENCE, INC.

 

AMENDMENT
AND WAIVER

 

August
23, 2017

 

This
Amendment and Waiver (this “Amendment and Waiver”) to that certain Securities Purchase Agreement (the
“Securities Purchase Agreement”) and Registration Rights Agreement (the “Registration Rights
Agreement”), each dated as of December 1, 2016, entered into between Pure Bioscience, Inc. and the Purchasers thereto
(the “Purchasers”) is entered into by the Company and the undersigned (“Purchaser”)
as of the day written above.

 

WHEREAS,
the Purchaser is an investor in that certain private placement financing (the “Private Placement”) by
Pure Bioscience, Inc. (the “Company”) of 1,572,941 shares of the Company’s common stock (the “Offer
Shares”) and warrants (the “Warrants”) to purchase 1,572,941 shares (the “Warrant
Shares”, together with the Offer Shares, the “Shares”) of the Company’s common stock,
pursuant to the terms and conditions of a Securities Purchase Agreement entered into between the Company and the investors in
the Private Placement (the “Securities Purchase Agreement”). Any capitalized terms not defined herein
shall have the meanings ascribed to them in the Securities Purchase Agreement.

 

WHEREAS,
the Purchaser currently holds 823,529 Shares and 823,529 Warrant Shares, which constitutes at least a majority in interest of
the Shares and Warrants issued in the Private Placement.

 

WHEREAS,
the Company intends to launch a tender offer pursuant to Schedule TO and an Offer to Amend and Exercise, among other documents
(the “Tender Offer Documents”) to the holders of various of the Company’s warrants issued in 2014
and 2015 and the Warrants to induce such holders to exercise the warrants by offering to reduce the exercise prices under such
warrants in return for shortening the expiration date of such warrants as described in the Tender Offer Documents (the “Tender
Offer”).

 

WHEREAS,
Section 4.12(a) of the Securities Purchase Agreement provides that until the earlier of (i) the six (6) month anniversary of the
listing of the Common Stock on a national securities exchange and (ii) the twelve (12) month anniversary of the Effective Date,
neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance
of any shares of Common Stock or Common Stock Equivalents at an effective price per share less than the Per Unit Purchase Price
(as defined in the Securities Purchase Agreement to be $0.85), unless the issuance is an Exempt Issuance.

 

WHEREAS,
the definition of “Exempt Issuance” excludes from the prohibitions in Section 4 among other exclusions, the exercise
of warrants then outstanding, provided that such securities have not been amended (including, without limitation, by any voluntary
reduction by the Company of any exercise price, exchange price or conversion price).

 

WHEREAS,
the Company filed a registration statement (the “Registration Statement”) pursuant to the Registration
Rights Agreement entered into in the Private Placement.

 

WHEREAS,
the Company is required and intends to file with the Securities and Exchange Commission a post-effective amendment to the Registration
Statement on the same date that it files the Tender Offer Documents with respect to the proposed amendments to the Warrants (the
“Post-Effective Amendment”).

 

WHEREAS,
the Company is required to use its commercially reasonable best efforts to have the Post-Effective Amendment declared effective
by the Securities and Exchange Commission as promptly as possible.

 

    	 

    	 

    

 

WHEREAS,
the Purchasers have certain liquidated damages rights under Section 2(d) of the Registration Rights Agreement if the Registration
Statement or prospectus to the Registration Statement is not available for more than an aggregate of 15 calendar days during any
12-month period.

 

WHEREAS,
the Securities Purchase Agreement and Registration Rights Agreement each provides that any provision may be amended or waived
by the Purchasers holding at least a majority in interest of the Shares and Registrable Securities, respectively, then outstanding.

 

NOW,
THEREFORE, The COMPANY AND THE PURCHASER, on behalf of HIMSELF and his affiliates AND
ALL THE PURCHASERS, in consideration of the mutual covenants and conditions contained herein hereby agree as follows:

 

	 	(1)	That
    subsection (b) of definition of “Exempt Issuance” of the Securities Purchase Agreement shall be amended and replaced
    in its entirety as follows (with the amended language in underline):

 

“(b)
securities upon the exercise or exchange of or conversion of any Securities issued hereunder and/or other securities exercisable
or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, provided
that such securities have not been amended (including, without limitation, by any voluntary reduction by the Company of any exercise
price, exchange price or conversion price) since the date of this Agreement to increase the number of such securities or to decrease
the exercise price, exchange price or conversion price of such securities (other than in connection with stock splits or combinations)
or to extend the term of such securities, provided, however, that solely the certain offer to amend and exercise by the Company
on Schedule TO to reduce the exercise prices of those certain warrants issued in 2014, 2015 and 2017 and shorten the expiration
date as described in the Schedule TO filed in August 2017 (which offer amends (i) the warrants issued in 2014 to reduce the exercise
price from $0.75 per share to $0.60 per share, (ii) the warrants issued in 2015 to reduce the exercise price from $0.45 per share
to $0.40 per share and (iii) the Warrants to reduce the exercise price from $1.25 per share to $0.85 per share) shall be an Exempt
Issuance.”

 

	 	(2)	That
    Section 4.12(a) of the Securities Purchase Agreement shall be amended and replaced in its entirety as follows (with the amended
    language in underline):

 

“(a)
From the date hereof until the date the initial Registration Statement is declared effective by the Commission (the “Effective
Date”), neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or
proposed issuance of any shares of Common Stock or Common Stock Equivalents. In addition, from the date hereof until the earlier
of (i) the six (6) month anniversary of the listing of the Common Stock on a national securities exchange and (ii) the twelve
(12) month anniversary of the Effective Date (provided, however, that if at least 60% of the then outstanding Warrants are
exercised for cash in the tender offer by the Company described in the Schedule TO filed in August 2017, such date shall be extended
until June 1, 2018), neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the
issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents at an effective price per share less than
the Per Unit Purchase Price.”

 

	 	(3)	To
    otherwise waive any rights that the Purchasers have pursuant to Section 4.12(a) or otherwise in Section 4.12 of the Securities
    Purchase Agreement solely in connection with the Tender Offer and the terms set forth in the Tender Offer Documents.

 

    	 

    	 

    

 

	 	(4)	That
    the first sentence of Section 2(d) of the Registration Rights Agreement shall be amended and replaced in its entirety as follows
    (with the amended language in underline):

 

“If:
(i) the Initial Registration Statement is not filed on or prior to its Filing Date (if the Company files the Initial Registration
Statement without affording the Holders the opportunity to review and comment on the same as required by Section 3(a) herein,
the Company shall be deemed to have not satisfied this clause (i)), or (ii) the Company fails to file with the Commission a request
for acceleration of a Registration Statement in accordance with Rule 461 promulgated by the Commission pursuant to the Securities
Act, within five Trading Days of the date that the Company is notified (orally or in writing, whichever is earlier) by the Commission
that such Registration Statement will not be “reviewed” or will not be subject to further review, or (iii) prior to
the effective date of a Registration Statement, the Company fails to file a pre-effective amendment and otherwise respond in writing
to comments made by the Commission in respect of such Registration Statement within ten (10) Trading Days after the receipt of
comments by or notice from the Commission that such amendment is required in order for such Registration Statement to be declared
effective, or (iv) a Registration Statement registering for resale all of the Registrable Securities is not declared effective
by the Commission by the Effectiveness Date of the Initial Registration Statement, or (v) after the effective date of a Registration
Statement, such Registration Statement ceases for any reason to remain continuously effective as to all Registrable Securities
included in such Registration Statement, or the Holders are otherwise not permitted to utilize the Prospectus therein to resell
such Registrable Securities, for more than an aggregate of fifteen (15) calendar days (or, solely in connection with (A)
a “full review” by the Commission of a post-effective amendment to a Registration Statement in connection with the
filing of the Company’s Annual Report on Form 10-K or (B) review by the Commission of a post-effective amendment to a
Registration Statement in connection with that certain offer to amend and exercise by the Company on Schedule TO to reduce the
exercise prices of those certain warrants issued in 2014, 2015 and 2017 and shorten the expiration date as described in the Schedule
TO filed in August 2017 and only once during the term of this Agreement, more than an aggregate of forty five (45)
consecutive calendar days) during any 12-month period (any such failure or breach being referred to as an “Event”,
and for purposes of clauses (i) and (iv), the date on which such Event occurs, and for purpose of clause (ii) the date on which
such five (5) Trading Day period is exceeded, and for purpose of clause (iii) the date which such ten (10) Trading Day period
is exceeded, and for purpose of clause (v) the date on which such fifteen (15) or forty five (45) calendar day period, as applicable,
is exceeded being referred to as “Event Date”), then, in addition to any other rights the Holders may have
hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the applicable
Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount
in cash, as partial liquidated damages and not as a penalty, equal to the product of 1.5% multiplied by the aggregate Subscription
Amount paid by such Holder pursuant to the Purchase Agreement.”

 

	 	(5)	The
    Company hereby covenants and agrees that, within two business days following the date hereof, it shall cause the counsel to
    the Company to deliver to Transfer Agent such counsel’s unqualified opinion that Rule 144 is currently available for
    the holders of Offer Shares and Warrant Shares issued in the Private Placement to resell such Offer Shares and Warrant Shares
    without restriction or Securities Act legend and covenants that its counsel shall promptly update such opinion as needed for
    such opinion to remain effective and shall provide copies of such opinion to such holder of Offer Shares and Warrant Shares
    or such holder’s broker and such opinion or opinion(s) shall be without any charge to the Purchaser or any holder of
    Offer Shares and Warrant Shares. In addition, the Company hereby covenants and agrees to use commercially reasonable best
    efforts to have the Post-Effective Amendment declared effective by Securities and Exchange Commission as promptly as possible
    after filing.

 

    	 

    	 

    

 

	 	(6)	The
    effectiveness of the amendments and the waivers of Purchaser set forth in Sections 1, 2, 3 and 4 above are subject to the
    Company offering in the Tender Offer to (i) amend the 2014 Warrants to reduce the exercise price from $0.75 to $0.60 per share,
    (ii) amend the 2015 Warrants to reduce the exercise price from $0.45 to $0.40 per share and (iii) amend the Warrants to reduce
    the exercise price from $1.25 per share to $0.85 per share, in exchange for shortening the expiration date (among other amendments)
    of such warrants as set forth in the Tender Offer Documents previously provided to Purchaser via Garden State Securities Inc.

 

	 	(7)	Miscellaneous

 

	 	a.	This
    Amendment and Waiver shall be governed in all respects by the internal laws of the State of New York.
	 	 	 
	 	b.	Except
    as otherwise expressly provided herein, the Securities Purchase Agreement and Registration Rights Agreement shall remain in
    full force and effect.
	 	 	 
	 	c.	Each
    party to this Amendment and Waiver hereby agrees to perform any further acts and to execute and deliver any further documents
    that may be necessary or required to carry out the intent and provisions of this Amendment and Waiver and the transactions
    contemplated hereby.
	 	 	 
	 	d.	This
    Amendment and Waiver may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
    together shall constitute one and the same instrument.

 

[Remainder
of Page Left Intentionally Blank]

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the undersigned have executed this Amendment and Waiver effective as of the first date written above.

 

	 	COMPANY
	 	 
	 	Pure Bioscience, Inc.
	 	 
	 	By:	
	 	Name:	Hank
    Lambert
	 	Title	Chief
    Executive Officer
	 	 	 
	 	PURCHASER

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