<SEC-DOCUMENT>0001144204-15-016511.txt : 20150317
<SEC-HEADER>0001144204-15-016511.hdr.sgml : 20150317
<ACCEPTANCE-DATETIME>20150316204706
ACCESSION NUMBER:		0001144204-15-016511
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20150310
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20150317
DATE AS OF CHANGE:		20150316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAMPIONS ONCOLOGY, INC.
		CENTRAL INDEX KEY:			0000771856
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				521401755
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-17263
		FILM NUMBER:		15704667

	BUSINESS ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205
		BUSINESS PHONE:		410-369-0365

	MAIL ADDRESS:	
		STREET 1:		855 N. WOLFE STREET
		STREET 2:		SUITE 619
		CITY:			BALTIMORE
		STATE:			MD
		ZIP:			21205

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHAMPIONS BIOTECHNOLOGY, INC.
		DATE OF NAME CHANGE:	20070220

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHAMPIONS SPORTS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INTERNATIONAL GROUP INC
		DATE OF NAME CHANGE:	19860319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v404684_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 0.5pt; border-top: Black 0.5pt solid; border-bottom: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">WASHINGTON, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt">FORM 8-K</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT PURSUANT TO SECTION 13 OR
15(d) OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of report (Date of earliest event reported):
<B>March 10, 2015</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 32%; text-align: justify; font-weight: bold">Delaware</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: center; font-weight: bold">0-17263</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 32%; text-align: justify; font-weight: bold">52-1401755</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">of Incorporation)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1 University Plaza, Suite 307, Hackensack,
New Jersey 07601</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices) (Zip
Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Registrant&rsquo;s telephone number, including
area code: <B>(201) 808-8400</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Not applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address if Changed Since
Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant
to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant
to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN THE REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 1.01.</B> <B>Entry into a Material Definitive Agreement.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As previously disclosed,
on March 11, 2015, Champions Oncology, Inc. (the &ldquo;<B>Company</B>&rdquo;) executed a Securities Purchase Agreement (the &ldquo;<B>2015
Securities Purchase Agreement</B>&rdquo;) with Battery Ventures IX, L.P. and Battery Investment Partners IX, LLC (collectively,
&ldquo;<B>Battery</B>&rdquo;), New Enterprise Associates 14, Limited Partnership (&ldquo;<B>NEA</B>&rdquo;), Joel Ackerman, Chief
Executive Officer and a director of the Company (&ldquo;<B>Ackerman</B>&rdquo;), Dr. Ronnie Morris, President and a director of
the Company (&ldquo;<B>Morris</B>&rdquo;), Daniel Mendelson, a director of the Company (&ldquo;<B>Mendelson</B>&rdquo;) and certain
other investors (collectively with Battery, NEA, Ackerman, Morris and Mendelson, the &ldquo;<B>Investors</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">On March 13, 2015, the
Company and the Investors consummated the sale contemplated by the 2015 Securities Purchase Agreement by the Company to the Investors
of units, each unit consisting of one share of the Company&rsquo;s Common Stock, par value $0.001 per share (the &ldquo;<B>Common
Stock</B>&rdquo;) and a warrant to buy 0.55 shares of Common Stock at $0.48 per share (the &ldquo;<B>Warrants</B>&rdquo;), at a
purchase price of $0.40 per unit, for an aggregate of $14,000,000. The Warrants expire five years after the closing date. Ackerman
and Morris converted convertible promissory notes dated December 1, 2014 in the principal amounts of $1 million each, plus accrued
interest, into the units at a 5% discount, pursuant to the terms of the convertible promissory notes, and received 2,710,526 units
each.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Investors have the
right to require the Company to repurchase the purchased shares (the &ldquo;<B>Put Option</B>&rdquo;) for cash for $0.40 per share
upon a change of control or sale or exclusive license of substantially all of the Company&rsquo;s assets approved by the Company&rsquo;s
board of directors. The Put Option will terminate upon the achievement of certain financial and other milestones.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Investors have certain
participation rights with respect to future financings of the Company. The Company covenanted to register the resale of the shares
of Common Stock to be issued to the Investors and the shares of Common Stock issuable upon exercise of the Warrants pursuant to
a 2015 Amended and Restated Registration Rights Agreement, and to pay certain liquidated damages if the Company fails to file such
registration statement by a certain deadline, have it declared effective by a certain deadline or keep it effective for a certain
period of time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The shares of Common Stock
and the Warrants sold pursuant to the 2015 Securities Purchase Agreement were sold to accredited investors only in a private placement
in reliance upon the exemption from registration provided by Section 4(2) of the Securities Act of 1933 and Regulation D promulgated
thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The issuance of the shares
of Common Stock and the Warrants will result in the Company issuing 1,865,853 shares of Common Stock to investors who purchased
shares of Common Stock pursuant to a Securities Purchase Agreement dated as of March 24, 2011 (the &ldquo;<B>2011 Securities Purchase
Agreement</B>&rdquo;) due to contractual antidilution provisions in that 2011 Securities Purchase Agreement. The Company and certain
other parties entered into an Amended and Restated 2011 Securities Purchase Agreement, which eliminates these antidilution provisions
going forward, and conform aspects of the put option in that 2011 Securities Purchase Agreement to the Put Option in the 2015 Securities
Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company and certain
investors entered into an Amended and Restated 2013 Securities Purchase Agreement, which conforms aspects of the put option in
the Company&rsquo;s Securities Purchase Agreement dated January 28, 2013 (the &ldquo;<B>2013 Securities Purchase Agreement</B>&rdquo;)
with certain investors to the Put Option in the 2015 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company and certain
investors executed amendments to the Company&rsquo;s warrants issued in connection with the 2011 Securities Purchase Agreement
and the 2013 Securities Purchase Agreement to eliminate the antidilution rights for future transactions, extend the terms by one
year each, revise the exercise price and increase the number of warrant shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The foregoing description
is qualified in its entirety by the terms of the agreements attached hereto as Exhibit 10.1, Exhibit 10.2, Exhibit 10.3, Exhibit
10.4, Exhibit 10.5 and Exhibit 10.6, which are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 3.02. Unregistered Sales of Equity
Securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The information required
by this Item is described in Item 1.01 above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 5.07 Submission of Matters to a Vote
of Security Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Effective March 10, 2015,
holders of 38,943,002 shares of the Company&rsquo;s Common Stock, which constituted a majority of the Company&rsquo;s outstanding
shares of Common Stock, executed a written consent in lieu of a meeting, pursuant to which the stockholders approved (a) an amendment
to the Company&rsquo;s certificate of incorporation to increase its authorized shares of common stock from 125,000,000 to 200,000,000
shares and (b) an amendment to the Company&rsquo;s certificate of incorporation to effect a reverse split of the Company&rsquo;s
common stock at a ratio ranging from three into one to fifteen into one, such ratio and whether to effect such reverse split and,
if so, at what date, to be determined by the Company&rsquo;s board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <B>Item 9.01.</B> <B>Financial Statements and Exhibits.</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left"><I>(d)</I></TD><TD STYLE="text-align: justify"><I>Exhibits</I></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">The following
exhibits are filed herewith:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 84%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">2015 Amended and Restated Registration Rights Agreement dated as of March 13, 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Form of 2015 Warrant to Purchase Common Stock dated March 13, 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.3</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amended and Restated 2011 Securities Purchase Agreement dated as of March 13, 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.4</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amended and Restated 2013 Securities Purchase Agreement dated as of March 13, 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.5</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amendment No. 1 to 2011 Warrants dated as of March 13, 2015</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">10.6</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Amendment No. 1 to 2013 Warrants dated as of March 13, 2015</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt"><B>CHAMPIONS ONCOLOGY, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">(Registrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Date: March 16, 2015</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-left: 27pt"><FONT STYLE="font-size: 10pt">/s/ Joel Ackerman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Joel Ackerman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v404684_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Execution Version</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">2015 AMENDED
AND RESTATED REGISTRATION RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This 2015 AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT (this &ldquo;<U>Agreement</U>&rdquo;), dated as of March 13, 2015 is by and between Champions Oncology,
Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), and each of the persons and entities (each referred to herein
as an &ldquo;<U>Investor</U>&rdquo; and, collectively, as the &ldquo;<U>Investors</U>&rdquo;) who are signatories to the 2011 Securities
Purchase Agreement (as defined below), the 2013 Securities Purchase Agreement (as defined below) and the 2015 Securities Purchase
Agreement (as defined below), including those persons and entities whose names appear on the signature pages hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company sold to certain of the Investors (the &ldquo;<U>2011 Investors</U>&rdquo;) (i) shares (the &ldquo;<U>2011 Shares</U>&rdquo;)
of the Company&rsquo;s common stock, par value $0.001 per share (the &ldquo;<U>Common Stock</U>&rdquo;) and, to some of the 2011
Investors, Warrants (the &ldquo;<U>2011 Warrants</U>&rdquo;) to purchase additional shares of Common Stock (the &ldquo;<U>2011
Warrant Shares</U>&rdquo;), pursuant to a Securities Purchase Agreement dated as of March 24, 2011, as amended on January 29, 2014
(the &ldquo;<U>2011 Securities Purchase Agreement</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the 2011 Securities Purchase Agreement, the Company and the 2011 Investors entered into a Registration Rights Agreement
dated as of April 4, 2011 (the &ldquo;<U>2011 Registration Rights Agreement</U>&rdquo;), whereby the Company granted the 2011 Investors
certain registration rights under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;) with respect
to their 2011 Shares and 2011 Warrant Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has agreed, on the terms and subject to the conditions set forth in a Securities Purchase Agreement dated as of January
28, 2013, as amended on January 29, 2014 (the &ldquo;<U>2013 Securities Purchase Agreement</U>&rdquo;), to issue and sell to certain
of the Investors (the &ldquo;<U>2013 Investors</U>&rdquo;) (i) shares (the &ldquo;<U>2013 Shares</U>&rdquo;) of Common Stock, and
(ii) Warrants (the &ldquo;<U>2013 Warrants</U>&rdquo;) to purchase additional shares of Common Stock (the &ldquo;<U>2013 Warrant
Shares</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the 2013 Securities Purchase Agreement, the Company, the 2011 Investors and the 2013 Investors entered into an
Amended and Restated Registration Rights Agreement dated as of January 28, 2013 (the &ldquo;<U>2013 Amended and Restated Registration
Rights Agreement</U>&rdquo;), which amended and restated the 2011 Registration Rights Agreement and whereby the Company granted
the 2011 Investors certain registration rights under the Securities Act with respect to their 2011 Shares and 2011 Warrant Shares,
and the Company granted the 2013 Investors certain registration rights under the Securities Act with respect to their 2013 Shares
and 2013 Warrant Shares;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">E.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has agreed, on the terms and subject to the conditions set forth in a Securities Purchase Agreement dated as of March 11,
2015 (the &ldquo;<U>2015 Securities Purchase Agreement</U>&rdquo;), to issue and sell to certain of the Investors (the &ldquo;<U>2015
Investors</U>&rdquo;) units (the &ldquo;<U>Units</U>&rdquo;) each consisting of (i) one share (each, a &ldquo;<U>2015 Share</U>&rdquo;
and collectively, the &ldquo;<U>2015 Shares</U>&rdquo;) of Common Stock, and (ii) one warrant (each, a &ldquo;<U>2015 Warrant</U>&rdquo;
and collectively, the &ldquo;<U>2015 Warrants</U>&rdquo;) to purchase 0.55 shares of Common Stock (such shares of Common Stock
issuable upon exercise of 2015 Warrants, the &ldquo;<U>2015 Warrant Shares</U>&rdquo;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">F.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
order to induce the 2015 Investors to enter into the 2015 Securities Purchase Agreement, the Company has agreed to grant the 2015
Investors certain registration rights under the Securities Act with respect to their 2015 Shares and 2015 Warrant Shares; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">G.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
2011 Investors who hold a majority of the 2011 Registrable Securities (as defined below) and the 2013 Investors who hold a majority
of the 2013 Registrable Securities (as defined below) have agreed to amend and restate the 2013 Amended and Restated Registration
Rights Agreement in its entirety in accordance with <U>Section 9(b)</U> of the 2013 Amended and Restated Registration Rights Agreement
to document the respective registration rights of the 2011 Investors, the 2013 Investors and 2015 Investors;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In consideration of the
2011 Investors entering into the 2011 Securities Purchase Agreement, the 2013 Investors entering into the 2013 Securities Purchase
Agreement and the 2015 Investors entering into the 2015 Securities Purchase Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties agree to and hereby amend and restate the 2013 Amended
and Restated Registration Rights Agreement as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
For purposes of this Agreement, the following terms shall have the meanings specified:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Agreement</U>&rdquo;
has the meaning specified in the preamble.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Battery</U>&rdquo;
means Battery Ventures IX, L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Black-out Period</U>&rdquo;
has the meaning specified in <U>Section 5(a)</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Business Day</U>&rdquo;
means any day other than a Saturday, a Sunday or a day on which the Commission is closed or on which banks in the City of New York
are authorized by law to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Commission</U>&rdquo;
means the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Common Stock</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Cut Back Shares</U>&rdquo;
has the meaning specified in <U>Section 2(d)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Demand Date</U>&rdquo;
means a 2011 Demand Date, 2013 Demand Date or a 2015 Demand Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Effective Date</U>&rdquo;
means the date on which a Registration Statement is declared effective by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Exchange Act</U>&rdquo;
means the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Exchange Listing</U>&rdquo;
has the meaning specified in <U>Section 2(a)</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Holder</U>&rdquo;
means any person owning or having the right to acquire, through exercise of the 2011 Warrants, 2013 Warrants, 2015 Warrants or
otherwise, 2011 Registrable Securities, 2013 Registrable Securities or 2015 Registrable Securities, including initially each Investor
and thereafter any permitted assignee thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Investor</U>&rdquo;
and &ldquo;<U>Investors</U>&rdquo; have the meanings specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Losses</U>&rdquo;
has the meaning specified in <U>Section 7(a)</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>NEA</U>&rdquo;
means New Enterprise Associates 14, Limited Partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>NYSE</U>&rdquo;
means the New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>PAR</U>&rdquo;
means PAR Investment Partners, L.P.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Proposed Registration</U>&rdquo;
has the meaning specified in <U>Section 3</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registration
Expenses</U>&rdquo; has the meaning specified in <U>Section 9(a)</U> of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registrable Securities</U>&rdquo;
means the 2011 Registrable Securities, the 2013 Registrable Securities and the 2015 Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registration
Period</U>&rdquo; means, with respect to a particular Registration Statement, the period beginning on the Closing Date (as defined
in the 2015 Securities Purchase Agreement) and ending on the earlier to occur of (i) the date on which all of the Registrable Securities
eligible for resale under such Registration Statement have been publicly sold pursuant to either such Registration Statement or
Rule 144 or (ii) the date on which any and all of the Registrable Securities remaining to be sold under such Registration Statement
(in the reasonable opinion of legal counsel to the Company) may be sold to the public under Rule 144 under the Securities Act or
any successor provision in a 90 day period without volume limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Registration
Statement</U>&rdquo; means a 2011 Registration Statement or 2013 Registration Statement or 2015 Registration Statement, prepared
in compliance with the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Rule 415</U>&rdquo;
means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or
any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>Securities Act</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Demand Date</U>&rdquo;
means the date upon which Battery submits notice to the Company requesting registration of the 2011 Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Filing Deadline</U>&rdquo;
means the forty-fifth (45<SUP>th</SUP>) calendar day following a 2011 Demand Date in the event the Company is eligible to register
securities on Form S-3 or the sixtieth (60<SUP>th</SUP>) calendar following a 2011 Demand Date in the event the Company is only
eligible to register securities on Form S-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Investors</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Purchase
Price</U>&rdquo; has the meaning specified in the 2011 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Registration
Deadline</U>&rdquo; means the earlier to occur of (i) the one hundred twentieth (120<SUP>th</SUP>) calendar day following a 2011
Demand Date and (ii) the tenth (10<SUP>th</SUP>) Business Day following the day on which the Commission informs the Company that
no review of a 2011 Registration Statement will be made by the staff of the Commission or that the staff of the Commission has
no further comments on a 2011 Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Registration
Default</U>&rdquo; has the meaning specified in <U>Section 2(b)(iv)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Registrable
Securities</U>&rdquo; means (i) the 2011 Shares and the 2011 Warrant Shares and any other shares of Common Stock issuable pursuant
to the terms of the 2011 Securities Purchase Agreement or the 2011 Warrants and (ii) any shares of capital stock issued or issuable
from time to time (with any adjustments) in replacement of, in exchange for or otherwise with respect of the 2011 Shares or the
2011 Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Registration
Rights Agreement</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Registration
Statement</U>&rdquo; means a registration statement filed by demand of Battery pursuant to <U>Section 2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Securities
Purchase Agreement</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Shares</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Warrants</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2011 Warrant
Shares</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Demand Date</U>&rdquo;
means the date upon which Battery or PAR submits notice to the Company requesting registration of the 2013 Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Filing Deadline</U>&rdquo;
means the forty-fifth (45<SUP>th</SUP>) calendar day following a 2013 Demand Date in the event the Company is eligible to register
securities on Form S-3 or the sixtieth (60<SUP>th</SUP>) calendar following a 2013 Demand Date in the event the Company is only
eligible to register securities on Form S-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Investors</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Purchase
Price</U>&rdquo; has the meaning specified in the 2013 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Registration
Deadline</U>&rdquo; means the earlier to occur of (i) the one hundred twentieth (120<SUP>th</SUP>) calendar day following a 2013
Demand Date and (ii) the tenth (10<SUP>th</SUP>) Business Day following the day on which the Commission informs the Company that
no review of a 2013 Registration Statement will be made by the staff of the Commission or that the staff of the Commission has
no further comments on a 2013 Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Registration
Default</U>&rdquo; has the meaning specified in <U>Section 2(c)(iv)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Registrable
Securities</U>&rdquo; means (i) the 2013 Shares and the 2013 Warrant Shares and any other shares of Common Stock issuable pursuant
to the terms of the 2013 Securities Purchase Agreement or the 2013 Warrants and (ii) any shares of capital stock issued or issuable
from time to time (with any adjustments) in replacement of, in exchange for or otherwise with respect of the 2013 Shares or the
2013 Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Registration
Statement</U>&rdquo; means a registration statement filed by demand of Battery or PAR pursuant to <U>Section 2(c)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Securities
Purchase Agreement</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Shares</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Warrants</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2013 Warrant
Shares</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Additional
Registration Statement</U>&rdquo; has the meaning set forth in <U>Section 2(d)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Demand Date</U>&rdquo;
means the date upon which a 2015 Investor submits notice to the Company requesting registration of the 2015 Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Demand Filing
Deadline</U>&rdquo; means the forty-fifth (45<SUP>th</SUP>) calendar day following a 2015 Demand Date in the event the Company
is eligible to register securities on Form S-3 or the sixtieth (60<SUP>th</SUP>) calendar following a 2015 Demand Date in the event
the Company is only eligible to register securities on Form S-1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Effectiveness
Period</U>&rdquo; shall have the meaning set forth in <U>Section 2(d)(ii)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Filing Deadline</U>&rdquo;
means the date that is sixty (60) days after the Closing or, with respect to a 2015 Additional Registration Statement, the tenth
day after such day that represents the first opportunity that the SEC allows the 2015 Additional Registration Statement to be filed
without the shares registered thereunder being deemed a primary offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Initial
Registration Statement</U>&rdquo; means the initial registration statement filed by the Company pursuant to <U>Section 2(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Investors</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Registrable
Securities</U>&rdquo; means (i) the 2015 Shares and the 2015 Warrant Shares and any other shares of Common Stock issuable pursuant
to the terms of the 2015 Securities Purchase Agreement or the 2015 Warrants and (ii) any shares of capital stock issued or issuable
from time to time (with any adjustments) in replacement of, in exchange for or otherwise with respect of the 2015 Shares or the
2015 Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Registration
Deadline</U>&rdquo; means, with respect to the 2015 Initial Registration Statement, (i) if the 2015 Initial Registration Statement
does not become subject to review by the SEC, ninety (90) days after the Closing Date or, if the 2015 Initial Registration Statement
becomes subject to review by the SEC, one hundred thirty-five (135) days after the filing of the 2015 Initial Registration Statement.
In addition to the foregoing, &ldquo;<U>2015 Registration Deadline</U>&rdquo; means, with respect to any 2015 Additional Registration
Statement, five (5) Trading Days after the Company receives notification from the SEC that the 2015 Additional Registration Statement
will not become subject to review or, if the 2015 Additional Registration Statement becomes subject to review by the SEC, one hundred
thirty-five (135) days after the filing thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Registration
Statement</U>&rdquo; means a registration statement filed pursuant to <U>Section 2(d)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 S-3 Registration
Statement</U>&rdquo; has the meaning set forth in <U>Section 2(d)(i)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Securities
Purchase Agreement</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Shares</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Warrants</U>&rdquo;
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&ldquo;<U>2015 Warrant
Shares</U>&rdquo; has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Capitalized terms used
herein and not otherwise defined shall have the respective meanings specified in the 2015 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exchange
Listing</U>. Promptly following the Closing, the Company shall (a)&nbsp;exercise commercially reasonable efforts to take all necessary
actions and obtain all required approvals to effect within eighteen (18) months from the date of Closing either the listing of
the Company&rsquo;s Common Stock on the NYSE or Nasdaq Global Market or, if listing on neither of these stock markets is available,
on the NYSE MKT or Nasdaq Capital Market, (b)&nbsp;take all actions necessary and obtain all required approvals to register the
Common Stock under the Exchange Act and (c)&nbsp;pay all fees and expenses related to the Exchange Listing, and all Registration
Expenses of the Company and the Investors (collectively, an &ldquo;<B>Exchange Listing</B>&rdquo;). The Company shall also exercise
commercially reasonable efforts to continue the Exchange Listing and trading of its Common Stock on the applicable Trading Market
and, in accordance, therewith, will use commercially reasonable efforts to comply in all respects with the Company&rsquo;s reporting,
filing and other obligations applicable to issuers whose securities are listed on such Trading Market. The Company also agrees
to promptly notify Holders upon completion of the Exchange Listing. The Company hereby acknowledges that the Investors shall have
the rights set forth in this Agreement with respect to the registration under the Securities Act for resale of the Registrable
Securities of the Investors in the event of and immediately effective upon such Exchange Listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>2011
Registrable Securities Demand Registration Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-1 Demand</U>. If at any time after the date of this Agreement, (A) the Company does not qualify to register the resale of the
2011 Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from
Battery that the Company file a Form S-1 registration statement with respect to the 2011 Registrable Securities, then the Company
shall as soon as practicable, and in any event by the 2011 Filing Deadline, file a Form S-1 registration statement under the Securities
Act covering the resale on a continuous basis pursuant to Rule 415 of all 2011 Registrable Securities that Battery requested to
be registered, and in each case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>, that Battery shall
only have the right to make two demands for registration of the 2011 Registrable Securities on Form S-1 for so long as the Company
does not qualify to register the resale of the 2011 Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-3 Demand</U>. If at any time after the date of this Agreement, (A) the Company qualifies to register the resale of the 2011 Registrable
Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from Battery that the
Company file a Form S-3 registration statement with respect to 2011 Registrable Securities, then the Company shall as soon as practicable,
and in any event by the 2011 Filing Deadline, file a Form S-3 registration statement under the Securities Act covering the resale
on a continuous basis pursuant to Rule 415 of all 2011 Registrable Securities that Battery requested to be registered, and in each
case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>, that Battery shall only have the right to make
two demands for registration on Form S-3 per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Participation
Right</U>. In the event a registration demand is made pursuant to <U>Section 2(b)(i)</U> or <U>Section 2(b)(ii)</U> above, the
Company shall promptly, but in any event no later than two (2) Business Days following the 2011 Demand Date send a written notice
to each of the Holders of 2013 Registrable Securities and 2015 Registrable Securities indicating that such registration demand
has been made and in reasonable detail any material information relating to the desired offering known to the Company at such time.
Each Holder of 2013 Registrable Securities and 2015 Registrable Securities shall have ten (10) Business Days from its receipt of
such notice to deliver to the Company a written request specifying the amount of Registrable Securities that such Holder intends
to sell and such Holder&rsquo;s intended method of distribution. Upon receipt of such request, the Company shall use its best efforts
to cause all Registrable Securities which the Company has been requested to register to be registered under the Securities Act
to the extent necessary to permit their sale or other disposition in accordance with the intended methods of distribution specified
in the request of such Holder. If, in connection with any underwritten public offering for the account of the Holders of 2011 Registrable
Securities, the managing underwriter(s) thereof shall impose in writing a limitation on the number of shares of Common Stock which
may be included in a registration statement because, in the good faith judgment of such underwriter(s), marketing or other factors
dictate such limitation is necessary to facilitate such offering, then the Company shall be obligated to include in the registration
statement only such limited portion of the Registrable Securities with respect to which each Holder has requested inclusion hereunder
as such underwriter(s) shall permit. Any exclusion of Registrable Securities shall be made first, to the 2013 Registrable Securities
and the 2015 Registrable Securities pro rata amongst the Holders thereof seeking to include 2013 Registrable Securities and 2015
Registrable Securities in such registration statement, in proportion to the number of 2013 Registrable Securities and 2015 Registrable
Securities sought to be included by such Holders of 2013 Registrable Securities and 2015 Registrable Securities and second, to
the 2011 Registrable Securities pro rata amongst the Holders thereof seeking to include 2011 Registrable Securities in such registration
statement, in proportion to the number of 2011 Registrable Securities sought to be included by such Holders of 2011 Registrable
Securities; <I>provided, however</I>, that the Company shall not exclude any Registrable Securities unless the Company has first
excluded all securities sought to be offered on account of the Company and any non-Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Default</U>. If (i) a 2011 Registration Statement is not filed on or before the 2011 Filing Deadline or declared effective by the
Commission on or before the 2011 Registration Deadline, (ii) after the 2011 Registration Statement has been declared effective
by the Commission, sales of 2011 Registrable Securities (other than such 2011 Registrable Securities as are then freely saleable
pursuant to Rule 144) cannot be made by Battery under such 2011 Registration Statement for any reason not within the exclusive
control of Battery, and for a reason that is under the control of the Company (other than during a Black-out Period (as defined
below)), (iii) the Common Stock ceases to be traded on the electronic Bulletin Board or listed on the Nasdaq Stock Market or the
New York Stock Exchange, or (iv) an amendment or supplement to a 2011 Registration Statement, or a new registration statement,
required to be filed pursuant to the terms of <U>Section 4(i)</U> below, is not filed on or before the date required by such Section
(each of the foregoing clauses (i), (ii), (iii) or (iv) being referred to herein as a &ldquo;<U>2011 Registration Default</U>&rdquo;),
the Company shall make cash payments to Battery equal to one percent (1%) of the aggregate 2011 Purchase Price paid by Battery,
as applicable, for its 2011 Registrable Securities requested to be included in such 2011 Registration Statement, for each thirty
(30) day period in which a 2011 Registration Default exists, such payment to be pro-rated for any portion of any such thirty (30)
day period; <U>provided</U> <U>that</U> such payment may not exceed 10% of the aggregate 2011 Purchase Price paid by Battery for
its 2011 Registrable Securities requested to be included in such 2011 Registration Statement. Each such payment required to be
made under this <U>Section 2(b)(iv)</U> shall be made within five (5) Business Days following the last day of each calendar month
in which a 2011 Registration Default exists. The foregoing represents the sole monetary remedy to Battery for a 2011 Registration
Default. In no event shall the Company be required to pay cash payments in excess of the applicable amount set forth above, regardless
of whether one or multiple 2011 Registration Defaults exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>2013
Registrable Securities Demand Registration Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-1 Demand</U>. If at any time after the date of this Agreement, (A) the Company does not qualify to register the resale of the
2013 Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from
Battery or PAR that the Company file a Form S-1 registration statement with respect to the 2013 Registrable Securities, then the
Company shall as soon as practicable, and in any event by the 2013 Filing Deadline, file a Form S-1 registration statement under
the Securities Act covering the resale on a continuous basis pursuant to Rule 415 of all 2013 Registrable Securities that Battery
or PAR requested to be registered, and in each case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>,
that each of Battery and PAR shall only have the right to make two demands for registration on Form S-1 for so long as the Company
does not qualify to register the resale of the Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-3 Demand</U>. If at any time after the date of this Agreement, (A) the Company qualifies to register the resale of the 2013 Registrable
Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from Battery or PAR that
the Company file a Form S-3 registration statement with respect to the 2013 Registrable Securities, then the Company shall as soon
as practicable, and in any event by the Filing Deadline, file a Form S-3 registration statement under the Securities Act covering
the resale on a continuous basis pursuant to Rule 415 of all 2013 Registrable Securities that Battery or PAR requested to be registered,
and in each case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>, that each of Battery and PAR shall
only have the right to make two demands for registration on Form S-3 per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Participation
Right</U>. In the event a registration demand is made pursuant to <U>Section 2(c)(i)</U> or <U>Section 2(c)(ii)</U> above, the
Company shall promptly, but in any event no later than two (2) Business Days following the 2013 Demand Date send a written notice
to each of the Holders of 2011 Registrable Securities and 2015 Registrable Securities indicating that such registration demand
has been made and in reasonable detail any material information relating to the desired offering known to the Company at such time.
Each Holder of 2011 Registrable Securities and 2015 Registrable Securities shall have ten (10) Business Days from its receipt of
such notice to deliver to the Company a written request specifying the amount of Registrable Securities that such Holder intends
to sell and such Holder&rsquo;s intended method of distribution. Upon receipt of such request, the Company shall use its best efforts
to cause all Registrable Securities which the Company has been requested to register to be registered under the Securities Act
to the extent necessary to permit their sale or other disposition in accordance with the intended methods of distribution specified
in the request of such Holder. If, in connection with any underwritten public offering for the account of the Holders of 2011 Registrable
Securities, the managing underwriter(s) thereof shall impose in writing a limitation on the number of shares of Common Stock which
may be included in a registration statement because, in the good faith judgment of such underwriter(s), marketing or other factors
dictate such limitation is necessary to facilitate such offering, then the Company shall be obligated to include in the registration
statement only such limited portion of the Registrable Securities with respect to which each Holder has requested inclusion hereunder
as such underwriter(s) shall permit. Any exclusion of Registrable Securities shall be made first, to the 2011 Registrable Securities
and 2015 Registrable Securities pro rata amongst the Holders thereof seeking to include 2011 Registrable Securities and 2015 Registrable
Securities in such registration statement, in proportion to the number of 2011 Registrable Securities and 2015 Registrable Securities
sought to be included by such Holders of 2011 Registrable Securities and 2015 Registrable Securities and second, to the 2013 Registrable
Securities pro rata amongst the Holders thereof seeking to include 2013 Registrable Securities in such registration statement,
in proportion to the number of 2013 Registrable Securities sought to be included by such Holders of 2013 Registrable Securities;
<I>provided, however</I>, that the Company shall not exclude any Registrable Securities unless the Company has first excluded all
securities sought to be offered on account of the Company and any non-Registrable Securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Default</U>. If (i) a 2013 Registration Statement is not filed on or before the 2013 Filing Deadline or declared effective by the
Commission on or before the 2013 Registration Deadline, (ii) after the 2013 Registration Statement has been declared effective
by the Commission, sales of 2013 Registrable Securities (other than such 2013 Registrable Securities as are then freely saleable
pursuant to Rule 144) cannot be made by Battery or PAR under such 2013 Registration Statement for any reason not within the exclusive
control of Battery or PAR, as applicable, and for a reason that is under the control of the Company (other than during a Black-out
Period (as defined below)), (iii) the Common Stock ceases to be traded on the electronic Bulletin Board or listed on the Nasdaq
Stock Market or the New York Stock Exchange, or (iv) an amendment or supplement to a 2013 Registration Statement, or a new registration
statement, required to be filed pursuant to the terms of <U>Section 4(i)</U> below, is not filed on or before the date required
by such Section (each of the foregoing clauses (i), (ii), (iii) or (iv) being referred to herein as a &ldquo;<U>2013 Registration
Default</U>&rdquo;), the Company shall make cash payments to Battery or PAR, as applicable, equal to one percent (1%) of the aggregate
2013 Purchase Price paid by Battery or PAR, as applicable, for its 2013 Registrable Securities requested to be included in such
2013 Registration Statement, for each thirty (30) day period in which a 2013 Registration Default exists, such payment to be pro-rated
for any portion of any such thirty (30) day period; <U>provided</U> <U>that</U> such payment may not exceed 10% of the aggregate
2013 Purchase Price paid by Battery or PAR, as applicable, for its 2013 Registrable Securities requested to be included in such
2013 Registration Statement. Each such payment required to be made under this <U>Section 2(c)(iv)</U> shall be made within five
(5) Business Days following the last day of each calendar month in which a 2013 Registration Default exists. The foregoing represents
the sole monetary remedy to Battery or PAR, as applicable, for a 2013 Registration Default. In no event shall the Company be required
to pay cash payments in excess of the applicable amount set forth above, regardless of whether one or multiple 2013 Registration
Defaults exist. <B> </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>2015
Registrable Securities Registration Rights</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
promptly as possible, and in any event on or prior to the applicable 2015 Filing Deadline, the Company shall prepare and file with
the SEC the 2015 Initial Registration Statement on Form S-1 covering the resale of all 2015 Registrable Securities for an offering
to be made on a continuous basis pursuant to Rule 415; <U>provided</U>, <U>however</U>, that if at any time the SEC takes the position
that the offering of some or all of the Registrable Securities in the 2015 Initial Registration Statement are not eligible to be
made on a delayed or continuous basis under the provisions of Rule 415 as a result of a characterization by the SEC of the transaction
described by the 2015 Registration Statement as a primary offering by the Company, the Company shall use commercially reasonable
efforts to persuade the SEC that the offering contemplated by the 2015 Registration Statement is a valid secondary offering and
not an offering <I>&ldquo;by or on behalf of the issuer&rdquo;</I> as defined in Rule 415. In the event that, despite the Company&rsquo;s
commercially reasonable efforts and compliance with the terms of this <U>Section 2(d)(i)</U>, the SEC refuses to alter its position,
the Company shall (i) remove from the 2015 Initial Registration Statement such portion of the 2015 Registrable Securities (the
&ldquo;<B>Cut Back Shares</B>&rdquo;) and/or (ii) agree to such restrictions and limitations on the registration and resale of
the 2015 Registrable Securities as the SEC may require to assure the Company&rsquo;s compliance with the requirements of Rule 415.
Any 2015 Registrable Securities not able to be included in the 2015 Initial Registration Statement shall reduce the number of 2015
Registrable Securities of each 2015 Investor covered by such 2015 Initial Registration Statement on a pro-rata basis based on the
number of 2015 Registrable Securities issued or issuable to each 2015 Investor, and the Company shall have no liability to any
2015 Investor pursuant to <U>Section 2(d)</U> or otherwise as a result of the filing of the 2015 Initial Registration Statement
covering less than all of the 2015 Registrable Securities under the circumstances described in this <U>Section 2(d)(i)</U>. As
soon as practicable following such intervening period of time as shall be required by the SEC or SEC guidance prior to the filing
thereof, the Company shall file one or more additional registration statements covering the resale of as many Cut Back Shares allowed
by the SEC or SEC guidance to be so registered while maintaining the Company&rsquo;s compliance with Rule 415 (each, a &ldquo;<B>2015
Additional Registration Statement</B>&rdquo;). The Company shall use its commercially reasonable efforts to promptly file each
2015 Additional Registration Statement and cause it to be declared effective. With regard to any such 2015 Additional Registration
Statement, all of the provisions of this <U>Section 2(d)(i)</U> shall again be applicable to the Cut Back Shares. The Company shall
give the 2015 Investors prompt notice of the amount of 2015 Registrable Securities excluded from each 2015 Additional Registration
Statement. Each 2015 Registration Statement shall be on Form S-1 except that the Company shall use reasonable efforts, subject
to receipt of necessary information from the Investors after prompt request from the Company to the Investors to provide such information,
to prepare and file with the SEC, within 60&nbsp;days after the Company first becomes eligible to file a registration statement
on Form S-3 (or an amendment to the 2015 Initial Registration Statement on Form S-3) (the &ldquo;<B>2015 S-3 Registration Statement</B>&rdquo;)
to enable the resale of the 2015 Shares and the 2015 Warrant Shares by the 2015 Investors from time to time in compliance with
the Securities Act; and to use reasonable efforts to cause the 2015 S-3 Registration Statement to become effective, such efforts
to include, without limiting the generality of the foregoing, preparing and filing with the SEC as promptly as practicable any
financial statements that are required to be filed prior to the effectiveness of such 2015 S-3 Registration Statement. Each successive
2015 Registration Statement shall then be on Form S-3 (except if the Company is not then eligible to register for resale the 2015
Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form in accordance with the
Securities Act and the Exchange Act). Each 2015 Registration Statement shall contain (except if otherwise directed by the 2015
Investors or requested by the SEC) the &ldquo;Plan of Distribution&rdquo; in substantially the form attached hereto as <U>Exhibit
B</U> (except if otherwise required pursuant to written comments received from the SEC upon a review of such 2015 Registration
Statement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall use its commercially reasonable efforts to cause the 2015 Initial Registration Statement to be declared effective
by the SEC as promptly as possible after the filing thereof, but in any event prior to the 2015 Registration Deadline, and shall
use commercially reasonable efforts to keep the 2015 Registration Statement(s) continuously effective under the Securities Act
until the later of (i) the date that all 2015 Registrable Securities covered by such 2015 Registration Statement(s) have been sold
or can be sold without volume restriction under Rule 144 during any 90-day period and (ii) two (2) years after the Closing (the
&ldquo;<B>2015 Effectiveness Period</B>&rdquo;); <U>provided</U>, that the Company shall not be obligated to keep such 2015 Registration
Statement effective if all of the 2015 Registrable Securities registered thereunder have been sold.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall notify the 2015 Investors in writing or by electronic mail promptly after receiving notification from the SEC that
the 2015 Initial Registration Statement has been declared effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any 2015 Registration Statement is not (i) filed on or prior to the applicable 2015 Filing Deadline, (ii) declared effective by
its applicable 2015 Registration Deadline, or (iii) maintained such that the 2015 Registrable Securities can be sold without restriction
under Rule 144 without the requirement to be in compliance with the public information requirements, as applicable, then for each
month (or pro rata for the portion of the month) until the 2015 Registration Statement is filed or declared effective, as applicable,
the Company shall pay to each Investor, as liquidated damages and not as a penalty, 2015 Warrants exercisable for that number of
2015 Warrant Shares equal to two and a half percent (2.5%) of the total number of 2015 Shares issued to each such Investor on the
Closing Date, <U>provided</U>, <U>however</U>, that the total amount of 2015 Warrant Shares so paid shall not exceed twenty percent
(20%) of the total number of 2015 Shares purchased by such 2015 Investor pursuant to the 2015 Securities Purchase Agreement. The
payments to which a 2015 Investor shall be entitled pursuant to this <U>Section 2(d)(iv)</U> are referred to herein as &ldquo;<B>2015
Registration Payments</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any 2015 Filing Date or 2015 Registration Deadline occurs on a Saturday, Sunday or any other day on which the SEC is not open and/or
the SEC&rsquo;s EDGAR system is not accepting filings with the same filing date, the Company&rsquo;s obligations relating to such
dates, shall be postponed to the immediately succeeding day on which the SEC is open and/or the SEC&rsquo;s EDGAR system is accepting
filings with the same filing date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(vi)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
shall be a condition precedent to the obligations of the Company to complete the registration pursuant to this <U>Section 2(d)</U>
with respect to the 2015 Registrable Securities of any particular Investor or to make any 2015 Registration Payments to such Investor
that such Investor furnish to the Company the information specified in <U>Exhibit A</U> hereto and such other information regarding
itself, the 2015 Registrable Securities and other shares of Common Stock held by it and the intended method of disposition of the
2015 Registrable Securities held by it (if different from the Plan of Distribution set forth on <U>Exhibit B</U> hereto) as shall
be reasonably required to effect the registration of such 2015 Registrable Securities and shall complete and execute such documents
in connection with such registration as the Company may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>2015
Demand Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-1 Demand</U>. If at any time after the date of this Agreement, (A) the Company does not qualify to register the resale of the
2015 Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from
NEA that the Company file a Form S-1 registration statement with respect to the 2015 Registrable Securities, then the Company shall
as soon as practicable, and in any event by the 2015 Demand Filing Deadline, file a Form S-1 registration statement under the Securities
Act covering the resale on a continuous basis pursuant to Rule 415 of all 2015 Registrable Securities that NEA requested to be
registered, and in each case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>, that NEA shall only
have the right to make three demands for registration on Form S-1 for so long as the Company does not qualify to register the resale
of the Registrable Securities on a continuous basis pursuant to Rule 415 on Form S-3.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Form
S-3 Demand</U>. If at any time after the date of this Agreement, (A) the Company qualifies to register the resale of the 2015 Registrable
Securities on a continuous basis pursuant to Rule 415 on Form S-3 and (B) the Company receives a request from NEA that the Company
file a Form S-3 registration statement with respect to the 2015 Registrable Securities, then the Company shall as soon as practicable,
and in any event by the 2015 Demand Filing Deadline, file a Form S-3 registration statement under the Securities Act covering the
resale on a continuous basis pursuant to Rule 415 of all 2015 Registrable Securities that NEA requested to be registered, and in
each case, subject to the limitations set forth herein; <I>provided</I>, <I>however</I>, that NEA shall only have the right to
make two demands for registration on Form S-3 per year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Participation
Right</U>. In the event a registration demand is made pursuant to <U>Section 2(e)(i)</U> or <U>Section 2(e)(ii)</U> above, the
Company shall promptly, but in any event no later than two (2) Business Days following the 2015 Demand Date send a written notice
to each of the Holders of 2011 Registrable Securities and 2013 Registrable Securities indicating that such registration demand
has been made and in reasonable detail any material information relating to the desired offering known to the Company at such time.
Each Holder of 2011 Registrable Securities and 2013 Registrable Securities shall have ten (10) Business Days from its receipt of
such notice to deliver to the Company a written request specifying the amount of Registrable Securities that such Holder intends
to sell and such Holder&rsquo;s intended method of distribution. Upon receipt of such request, the Company shall use its best efforts
to cause all Registrable Securities which the Company has been requested to register to be registered under the Securities Act
to the extent necessary to permit their sale or other disposition in accordance with the intended methods of distribution specified
in the request of such Holder. If, in connection with any underwritten public offering, the managing underwriter(s) thereof shall
impose in writing a limitation on the number of shares of Common Stock which may be included in a registration statement because,
in the good faith judgment of such underwriter(s), marketing or other factors dictate such limitation is necessary to facilitate
such offering, then the Company shall be obligated to include in the registration statement only such limited portion of the Registrable
Securities with respect to which each Holder has requested inclusion hereunder as such underwriter(s) shall permit. Any exclusion
of Registrable Securities shall be made first, to the 2011 Registrable Securities and 2013 Registrable Securities pro rata amongst
the Holders thereof seeking to include 2011 Registrable Securities and 2013 Registrable Securities in such registration statement,
in proportion to the number of 2011 Registrable Securities and 2013 Registrable Securities sought to be included by such Holders
of 2011 Registrable Securities and 2013 Registrable Securities and second, to the 2015 Registrable Securities pro rata amongst
the Holders thereof seeking to include 2015 Registrable Securities in such registration statement, in proportion to the number
of 2015 Registrable Securities sought to be included by such Holders of 2015 Registrable Securities; <I>provided, however</I>,
that the Company shall not exclude any Registrable Securities unless the Company has first excluded all securities sought to be
offered on account of the Company and any non-Registrable Securities.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Effectiveness</U>.
Except as otherwise specifically provided in Section 2(d) hereof, the Company shall use its best efforts to cause each Registration
Statement to become effective as soon as practicable following the filing thereof, but in no event later than the Registration
Deadline. The Company shall respond promptly to any and all comments made by the staff of the Commission with respect to a Registration
Statement. Subject to Section 2(d) hereof, the Company will maintain the effectiveness of each Registration Statement filed pursuant
to this Agreement for the Registration Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
of Other Securities</U>. The Company shall not, from the date hereof until the Effective Date for the first Registration Statement
filed hereunder, prepare and file with the SEC a registration statement relating to an offering for its own account or the account
of others under the Securities Act of any of its equity securities, other than any registration statement or post-effective amendment
to a registration statement (or supplement thereto) relating to the Company&rsquo;s employee benefit plans registered on Form S-8.
In no event shall the Company include any securities other than Registrable Securities on any Registration Statement filed by the
Company on behalf of Battery, PAR or NEA pursuant to the terms hereof without the consent of such requesting Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Piggyback
Registration</U>. If, at any time prior to the termination of the Registration Period, (i) the Company proposes to register shares
of Common Stock under the Securities Act in connection with the public offering of such shares for cash (a &ldquo;<U>Proposed Registration</U>&rdquo;)
other than a registration statement on Form S-8 or Form S-4 or any successor or other forms promulgated for similar purposes and
(ii) a Registration Statement covering the sale of all of the Registrable Securities is not then effective and available for sales
thereof by the Holders, the Company shall, at such time, promptly give each Holder written notice of such Proposed Registration.
Each Holder shall have ten (10) Business Days from its receipt of such notice to deliver to the Company a written request specifying
the amount of Registrable Securities that such Holder intends to sell and such Holder&rsquo;s intended method of distribution.
Upon receipt of such request, the Company shall use its best efforts to cause all Registrable Securities which the Company has
been requested to register to be registered under the Securities Act to the extent necessary to permit their sale or other disposition
in accordance with the intended methods of distribution specified in the request of such Holder; <I>provided</I>, <I>however</I>,
that the Company shall have the right to postpone or withdraw any registration effected pursuant to this <U>Section 3</U> without
obligation to the Holders. If, in connection with any underwritten public offering for the account of the Company or for stockholders
of the Company that have contractual rights to require the Company to register shares of Common Stock, the managing underwriter(s)
thereof shall impose in writing a limitation on the number of shares of Common Stock which may be included in a registration statement
because, in the good faith judgment of such underwriter(s), marketing or other factors dictate such limitation is necessary to
facilitate such offering, then the Company shall be obligated to include in the registration statement only such limited portion
of the Registrable Securities with respect to which each Holder has requested inclusion hereunder as such underwriter(s) shall
permit. Any exclusion of Registrable Securities shall be made <I>pro rata</I> among the Holders seeking to include Registrable
Securities in a registration statement, in proportion to the number of Registrable Securities sought to be included by such Holders;
<I>provided</I>, <I>however</I>, that the Company shall not exclude any Registrable Securities unless the Company has first excluded
all outstanding securities that are not entitled to inclusion in the registration statement or are not entitled to <I>pro rata</I>
inclusion with the Registrable Securities; and <I>provided</I>, <I>further</I>, that, after giving effect to the immediately preceding
proviso, any exclusion of Registrable Securities shall be made <I>pro rata</I> with Holders of other securities having the right
to include such securities in the registration statement. For additional clarification, a 2015 Registration Statement shall not
be considered a Proposed Registration.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations
of the Company</U>. In addition to performing its obligations hereunder, including without limitation those pursuant to <U>Sections
2 and 3</U> above, the Company shall, with respect to each Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prepare
and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection
with such Registration Statement as may be necessary to comply with the provisions of the Securities Act or to maintain the effectiveness
of such Registration Statement during the Registration Period, or as may be reasonably requested by a Holder in order to incorporate
information concerning such Holder or such Holder&rsquo;s intended method of distribution;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;so
long as a Registration Statement is effective covering the resale of the applicable Registrable Securities owned by a Holder, furnish
to each Holder such number of copies of the prospectus included in such Registration Statement, including a preliminary prospectus,
in conformity with the requirements of the Securities Act, and such other documents as such Holder may reasonably request in order
to facilitate the disposition of such Holder&rsquo;s Registrable Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;use
commercially reasonable efforts to register or qualify the Registrable Securities under the securities or &ldquo;blue sky&rdquo;
laws of such jurisdictions within the United States as shall be reasonably requested from time to time by a Holder, and do any
and all other acts or things which may reasonably be necessary or advisable to enable such Holder to consummate the public sale
or other disposition of the Registrable Securities in such jurisdictions; <I>provided</I> that the Company shall not be required
in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process
in any such jurisdiction;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notify
each Holder immediately after becoming aware of the occurrence of any event (but shall not, without the prior written consent of
such Holder, disclose to such Holder any facts or circumstances constituting material non-public information) as a result of which
the prospectus included in such Registration Statement, as then in effect, contains an untrue statement of material fact or omits
to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing, and as promptly as practicable prepare and file with the Commission and furnish to each Holder a reasonable
number of copies of a supplement or an amendment to such prospectus as may be necessary so that such prospectus does not contain
an untrue statement of material fact or omit to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances then existing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;use
commercially reasonable efforts to prevent the issuance of any stop order or other order suspending the effectiveness of such Registration
Statement and, if such an order is issued, to use commercially reasonable efforts to obtain the withdrawal thereof at the earliest
possible time and to notify each Holder in writing of the issuance of such order and the resolution thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;furnish
to each Holder, on the date that such Registration Statement, or any successor registration statement, becomes effective, a letter,
dated such date, signed by an officer of the Company or of outside counsel to the Company (and reasonably acceptable to such Holder)
addressed to such Holder, confirming such effectiveness and, to the knowledge of such officer or counsel, the absence of any stop
order;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;provide
to each Holder and its representatives the reasonable opportunity to conduct, subject to confidentiality agreements reasonably
acceptable to the Company, a reasonable inquiry of the Company&rsquo;s financial and other records during normal business hours
and make available during normal business hours and with reasonable advance notice its officers, directors and employees for questions
regarding information which such Holder may reasonably request in order to fulfill any due diligence obligation on its part;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;permit
counsel for Battery (if such Registration Statement is pursuant to a demand by Battery), PAR (if such Registration Statement is
pursuant to a demand by PAR) or NEA (if such Registration Statement is pursuant to a demand by the 2015 Investors) to review such
Registration Statement and all amendments and supplements thereto, and any comments made by the staff of the Commission concerning
such Holder and/or the transactions contemplated by the Transaction Documents and the Company&rsquo;s responses thereto, within
a reasonable period of time prior to the filing thereof with the Commission (or, in the case of comments made by the staff of the
Commission, within a reasonable period of time following the receipt thereof by the Company); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in
the event that, at any time, the number of shares available under the Registration Statement is insufficient to cover the Registrable
Securities, the Company shall promptly amend such Registration Statement or file a new registration statement, in any event as
soon as practicable, but not later than the tenth (10<SUP>th</SUP>) day following notice from a Holder of the occurrence of such
event, so that such Registration Statement or such new registration statement, or both, covers no less than the total number of
Registrable Shares. The Company shall use its best efforts to cause such amendment and/or new Registration Statement to become
effective as soon as practicable following the filing thereof. Unless and until such amendment or new Registration Statement becomes
effective, each Holder shall have the rights described in <U>Section&nbsp;2</U> above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Permitted
Suspension</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Black-Out
Period</U>. Notwithstanding the Company&rsquo;s obligations under this Agreement, if in the good faith judgment of the Company,
following consultation with legal counsel, it would be detrimental to the Company or its stockholders for resales of Registrable
Securities to be made pursuant to the Registration Statement due to the existence of a material development involving the Company
which the Company would be obligated to disclose in the Registration Statement, which disclosure would be premature or otherwise
inadvisable at such time or would have a Material Adverse Effect upon the Company and its stockholders, the Company shall have
the right to suspend the use of the Registration Statement for a period of not more than thirty (30) days (the &ldquo;<U>Black-out
Period</U>&rdquo;); <I>provided</I>, <I>however</I>, that the Company may so defer or suspend the use of the Registration Statement
for no more than thirty (30) days in any twelve-month period and not within 30 days of the end of any prior Black-out Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Suspension</U>.
Notwithstanding anything to the contrary contained herein or in the 2011 Securities Purchase Agreement, the 2013 Securities Purchase
Agreement or the 2015 Securities Purchase Agreement, if the use of the Registration Statement is suspended by the Company, the
Company shall promptly give written notice of the suspension to the Holders and shall promptly notify the Holders in writing as
soon as the use of the Registration Statement may be resumed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations
of Each Holder</U>. In connection with the registration of Registrable Securities pursuant to a Registration Statement, and as
a condition to the Company&rsquo;s obligations under <U>Section 2</U> hereof, each Holder shall:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;timely
furnish to the Company in writing (i) a completed selling securityholder questionnaire and (ii) such information in writing regarding
itself and the intended method of disposition of such Registrable Securities as the Company shall reasonably request in order to
effect the registration thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;upon
receipt of any notice from the Company of the happening of any event of the kind described in <U>Sections 4(d) or 4(e)</U> or of
the commencement of a Black-out Period, immediately discontinue any sale or other disposition of such Registrable Securities pursuant
to such Registration Statement until the filing of an amendment or supplement as described in <U>Section 4(d)</U> or withdrawal
of the stop order referred to in <U>Section 4(e)</U>, or the termination of the Black-out Period, as the case may be, and use commercially
reasonable efforts to maintain the confidentiality of such notice and its contents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
the extent required by applicable law, deliver a prospectus to the purchaser of such Registrable Securities;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notify
the Company when it has sold all of the Registrable Securities held by it; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;notify
the Company in the event that any information supplied by such Holder in writing for inclusion in such Registration Statement or
related prospectus is untrue or omits to state a material fact required to be stated therein or necessary to make such information
not misleading in light of the circumstances then existing; immediately discontinue any sale or other disposition of such Registrable
Securities pursuant to such Registration Statement until the filing of an amendment or supplement to such prospectus as may be
necessary so that such prospectus does not contain an untrue statement of material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; and
use commercially reasonable efforts to assist the Company as may be appropriate to make such amendment or supplement effective
for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In the event that any Holder&rsquo;s Registrable Securities are included in a Registration Statement under this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by law, the Company shall indemnify and hold harmless such Holder, the officers, directors, employees, agents
and representatives of such Holder, and each person, if any, who controls such Holder within the meaning of the Securities Act
or the Exchange Act, against any losses, claims, damages, liabilities or reasonable out-of-pocket expenses (whether joint or several)
(collectively, including reasonable legal expenses or other expenses reasonably incurred in connection with investigating or defending
same, &ldquo;<U>Losses</U>&rdquo;), insofar as any such Losses arise out of or are based upon (i) any untrue statement or alleged
untrue statement of a material fact contained in such Registration Statement under which such Registrable Securities were registered,
including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto, or (ii) the
omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements
therein, in light of the circumstances under which they were made, not misleading. Subject to the provisions of <U>Section 7(c)</U>
below, the Company will reimburse such Holder, and each such officer, director, employee, agent, representative or controlling
person, for any reasonable legal expenses or other out-of-pocket expenses as reasonably incurred by any such entity or person in
connection with investigating or defending any Loss; <I>provided, however</I>, that the foregoing indemnity shall not apply to
amounts paid in settlement of any Loss if such settlement is effected without the consent of the Company (which consent shall not
be unreasonably withheld), nor shall the Company be obligated to indemnify any person for any Loss to the extent that such Loss
is (i) based upon and is in conformity with written information furnished by a Holder expressly for use in such Registration Statement
or (ii) based on a failure of such person to deliver or cause to be delivered the final prospectus contained in the Registration
Statement and made available by the Company, if such delivery is required by applicable law. The Company shall not enter into any
settlement of a Loss that does not provide for the unconditional release of such Holder from all liabilities and obligations relating
to such Loss.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent permitted by law, each Holder who is named in such Registration Statement as a selling stockholder, acting severally
and not jointly, shall indemnify and hold harmless the Company, the officers, directors, employees, agents and representatives
of the Company, and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act,
against any Losses to the extent (and only to the extent) that any such Losses are based upon and in conformity with written information
furnished by such Holder expressly for use in such Registration Statement. Subject to the provisions of <U>Section 7(c)</U> below,
such Holder will reimburse any legal or other expenses as reasonably incurred by the Company and any such officer, director, employee,
agent, representative, or controlling person, in connection with investigating or defending any such Loss; <I>provided, however</I>,
that the foregoing indemnity shall not apply to amounts paid in settlement of any such Loss if such settlement is effected without
the consent of such Holder (which consent shall not be unreasonably withheld); and <I>provided, further</I>, that, in no event
shall any indemnity under this <U>Section 7(b)</U> exceed the net proceeds resulting from the sale of the Registrable Securities
sold by such Holder under such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly
after receipt by an indemnified party under this <U>Section 7</U> of notice of the commencement of any action (including any governmental
action), such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this <U>Section
7</U>, promptly deliver to the indemnifying party a written notice of the commencement thereof and the indemnifying party shall
have the right to participate in and to assume the defense thereof with counsel selected by the indemnifying party and reasonably
acceptable to the indemnified party; <I>provided</I>, <I>however</I>, that an indemnified party shall have the right to retain
its own counsel, with the reasonably incurred fees and expenses of one such counsel for all indemnified parties to be paid by the
indemnifying party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate
under applicable standards of professional conduct due to actual or potential conflicting interests between such indemnified party
and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party
within a reasonable time of the commencement of any such action, to the extent prejudicial to its ability to defend such action,
shall relieve such indemnifying party of any liability to the indemnified party under this <U>Section 7</U> with respect to such
action, but the omission so to deliver written notice to the indemnifying party will not relieve it of any liability that it may
have to any indemnified party otherwise than under this <U>Section 7</U> or with respect to any other action unless the indemnifying
party is materially prejudiced as a result of not receiving such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the indemnity provided in paragraph (a) or (b) of this <U>Section 7</U> is unavailable or insufficient to hold harmless
an indemnified party for any reason, the Company and each Holder agree, severally and not jointly, to contribute to the aggregate
Losses to which the Company or such Holder may be subject in such proportion as is appropriate to reflect the relative fault of
the Company and such Holder in connection with the statements or omissions which resulted in such Losses; <I>provided</I>, <I>however</I>,
that in no case shall such Holder be responsible for any amount in excess of the net proceeds resulting from the sale of the Registrable
Securities sold by it under the Registration Statement. Relative fault shall be determined by reference to whether any alleged
untrue statement or omission relates to information provided by the Company or by such Holder. The Company and each Holder agree
that it would not be just and equitable if contribution were determined by <I>pro rata</I> allocation or any other method of allocation
which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph
(d), no person guilty of fraudulent misrepresentation (within the meaning of <U>Section 11(f)</U> of the Securities Act) shall
be entitled to contribution from any person who is not guilty of such fraudulent misrepresentation. For purposes of this <U>Section
7</U>, each person who controls a Holder within the meaning of either the Securities Act or the Exchange Act and each officer,
director, employee, agent or representative of such Holder shall have the same rights to contribution as such Holder, and each
person who controls the Company within the meaning of either the Securities Act or the Exchange Act and each officer, director,
employee, agent or representative of the Company shall have the same rights to contribution as the Company, subject in each case
to the applicable terms and conditions of this paragraph (d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
obligations of the Company and each Holder under this <U>Section&nbsp;7</U> shall survive the exercise of the 2011 Warrants, the
2013 Warrants or the 2015 Warrants (to the degree held by such Holder) in full, the completion of any offering or sale of Registrable
Securities pursuant to a Registration Statement under this Agreement, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reports</U>.
With a view to making available to each Holder the benefits of Rule 144 and any other similar rule or regulation of the Commission
that may at any time permit such Holder to sell securities of the Company to the public without registration, the Company agrees
(until all of the Registrable Securities have been sold under a Registration Statement or pursuant to Rule 144) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
and keep public information available, as those terms are understood and defined in Rule 144;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;file
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the
Exchange Act; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;furnish
to such Holder, so long as such Holder owns any Registrable Securities, promptly upon written request (i) a written statement by
the Company, if true, that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act,
(ii) to the extent not publicly available through the Commission&rsquo;s EDGAR database, a copy of the most recent annual or quarterly
report of the Company and such other reports and documents so filed by the Company with the Commission, and (iii) such other information
as may be reasonably requested by such Holder in connection with such Holder&rsquo;s compliance with any rule or regulation of
the Commission which permits the selling of any such securities without registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses
of Registration</U>. Except as otherwise provided in the 2011 Securities Purchase Agreement, the 2013 Securities Purchase Agreement
and the 2015 Securities Purchase Agreement, all reasonable expenses, other than underwriting discounts and commissions, incurred
in connection with the registrations, filings or qualifications described herein, including (without limitation) all registration,
filing and qualification fees, printers&rsquo; and accounting fees, the fees and disbursements of counsel for the Company, reasonable
legal fees of one counsel for the Investors, and the fees and disbursements incurred in connection with the opinion or letter described
in <U>Section 4(f)</U> hereof, shall be borne by the Company (collectively, &ldquo;<U>Registration Expenses</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment;
Waiver</U>. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended or waived except pursuant
to a written instrument executed by the Company and the Holders of a majority of the Registrable Securities that are either then
outstanding or are issuable on exercise of the 2011 Warrants, the 2013 Warrants or the 2015 Warrants then outstanding (without
regard to any limitation on such exercise); <I>provided</I> that (i) any amendment or waiver that adversely affects the 2011 Registrable
Securities or the Holders thereof must be approved by the Holders of a majority of the 2011 Registrable Securities that are either
then outstanding or are issuable on exercise of the 2011 Warrants then outstanding (without regard to any limitation on such exercise)
and (ii) any amendment or waiver that adversely affects the 2013 Registrable Securities or the Holders thereof must be approved
by the Holders of a majority of the 2013 Registrable Securities that are either then outstanding or are issuable on exercise of
the 2013 Warrants then outstanding (without regard to any limitation on such exercise) and (iii) any amendment or waiver that adversely
affects the 2015 Registrable Securities or the Holders thereof must be approved by (A) NEA, so long as it holds at least twenty-five
percent (25%) of the original 2015 Registrable Securities purchased under the 2015 Securities Purchase Agreement, and (B) the Holders
of a majority of the 2015 Registrable Securities that are either then outstanding or are issuable on exercise of the 2015 Warrants
then outstanding (without regard to any limitation on such exercise). Any amendment or waiver effected in accordance with this
paragraph shall be binding upon each Holder, each future Holder and the Company. The failure of any party to exercise any right
or remedy under this Agreement or otherwise, or the delay by any party in exercising such right or remedy, shall not operate as
a waiver thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>.
Any notice, demand or request required or permitted to be given by the Company or a Holder pursuant to the terms of this Agreement
shall be in writing and shall be deemed delivered (i) when delivered personally or by verifiable facsimile transmission, unless
such delivery is made on a day that is not a Business Day, in which case such delivery will be deemed to be made on the next succeeding
Business Day, (ii) on the next Business Day after timely delivery to a reputable overnight courier and (iii) on the Business Day
actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid), addressed
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: 24.5pt">If to the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">Joel Ackerman, Chief Executive Officer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 132.45pt; text-indent: 11.55pt">Champions Oncology, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 120.9pt; text-indent: 23.1pt">One University Plaza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 120.9pt; text-indent: 23.1pt">Suite 307</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 109.35pt; text-indent: 34.65pt">Hackensack, NJ 07601</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 132.45pt; text-indent: 11.55pt">Tel (201) 808-8400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 120.9pt; text-indent: 23.1pt">Fax (201) 357-5216</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 109.35pt; text-indent: 34.65pt">jackerman@championsoncology.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 24.45pt; text-indent: 24.5pt">with a copy (which shall not constitute
notice) to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">Adam D. So, Esquire</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 132.45pt; text-indent: 11.55pt">Epstein Becker &amp; Green, P.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 120.9pt; text-indent: 23.1pt">250 Park Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 109.35pt; text-indent: 34.65pt">New York, NY 10177-1211</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 132.45pt; text-indent: 11.55pt">Tel (212) 351-8600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 120.9pt; text-indent: 23.1pt">Fax (212) 878-8693</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-indent: 0.5in">aso@ebglaw.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">and if to a Holder, to such address as set
forth in the 2011 Securities Purchase Agreement, the 2013 Securities Purchase Agreement or the 2015 Securities Purchase Agreement
(as applicable) or as otherwise shall be designated by such Holder in writing to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment</U>.
Upon the transfer of any Registrable Securities by a Holder, the rights of such Holder hereunder with respect to such securities
so transferred shall be assigned automatically to the transferee thereof, and such transferee shall thereupon be deemed to be a
&ldquo;Holder&rdquo; for purposes of this Agreement, as long as: (i) the Company is, within a reasonable period of time following
such transfer, furnished with written notice of the name and address of such transferee, (ii) the transferee agrees in writing
with the Company to be bound by all of the provisions hereof, and (iii) such transfer is made in accordance with the applicable
requirements of the 2011 Securities Purchase Agreement, the 2013 Securities Purchase Agreement or the 2015 Securities Purchase
Agreement, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
This Agreement may be executed in counterparts, each of which shall be deemed an original, and all of which together shall be deemed
one and the same instrument. This Agreement, once executed by a party, may be delivered to any other party hereto by facsimile
transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts
made and to be performed entirely within the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Holder
of Record</U>. A person is deemed to be an Holder whenever such person owns or is deemed to own of record Registrable Securities.
If the Company receives conflicting instructions, notices or elections from two or more persons with respect to the same Registrable
Securities, the Company shall act upon the basis of instructions, notice or election received from the record owner of such Registrable
Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Agreement and the other Transaction Documents referenced in the 2011 Securities Purchase Agreement, the 2013
Securities Purchase Agreement or the 2015 Securities Purchase Agreement, as applicable, constitute the entire agreement among the
parties hereto with respect to the subject matter hereof and thereof. There are no restrictions, promises, warranties or undertakings,
other than those set forth or referred to herein and therein. This Agreement and the other Transaction Documents referenced in
the 2011 Securities Purchase Agreement, the 2013 Securities Purchase Agreement or the 2015 Securities Purchase Agreement, as applicable,
supersede all prior agreements and understandings among the parties hereto with respect to the subject matter hereof and thereof.
In particular, this Agreement amends and restates the 2013 Amended and Restated Registration Rights Agreement in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Third
Party Beneficiaries</U>. This Agreement is intended for the benefit of the parties hereto and their respective permitted successors
and assigns, and is not for the benefit of, nor may any provision hereof be enforced by, any other person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[Signature Pages to Follow]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
undersigned have executed this 2015 Amended and Restated Registration Rights Agreement as of the date first-above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">CHAMPIONS ONCOLOGY, INC.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Joel Ackerman</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Chief Executive Officer</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">NEW ENTERPRISE ASSOCIATES 14, L.P.</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Louis S. Citron</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Louis S. Citron</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">BATTERY VENTURES IX, L.P.</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Battery Partners IX, LLC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>General Partner</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid">/s/ Scott Tobin</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1pt solid">Scott Tobin</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">Title:</TD>
    <TD STYLE="width: 37%; border-bottom: Black 1pt solid">Managing Member</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">BATTERY INVESTMENT PARTNERS IX, LLC</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Battery Investment Partners IX, LLC</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Managing Member</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="width: 38%; border-bottom: Black 1pt solid">/s/ Scott Tobin</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 36%; border-bottom: Black 1pt solid; text-align: left">Scott Tobin</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 5%">Title:</TD>
    <TD STYLE="width: 37%; border-bottom: Black 1pt solid">Managing Member</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt">&nbsp;</P>


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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">PERCEPTIVE LIFE SCIENCES MASTER FUND LTD.</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ James Mannix</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">James Mannix</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Chief Operating Officer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">TITAN PERC, LTD.</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Darren Ross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Darren Ross</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Director</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-decoration: none; border-bottom: Black 1pt solid">SABBY HEALTHCARE MASTER FUND, LTD.</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Robert Grundstein</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Robert Grundstein</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">COO of Investment Manager</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 29 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%; text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: __________________________________</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name: _____________________________________</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3">PAR INVESTMENT PARTNERS, L.P.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD COLSPAN="2">PAR Group, L.P.</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">General Partner</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="width: 38%">PAR Capital Management, Inc.</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>General Partner</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 31.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Arthur Epker, III</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name: </TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid">Arthur Epker, III</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 49%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Vice President</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 99pt">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Ronnie Morris</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">Ronnie Morris</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Richard Molinsky</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">Richard Molinsky</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Samuel A. Morse</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">Samuel A. Morse</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2015 AMENDED AND RESTATED REGISTRATION
RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal"><U>Counterpart
Signature Page</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-decoration: underline"><U>FOR ENTITY INVESTORS</U>:</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-decoration: underline"><U>FOR INDIVIDUAL INVESTORS</U>:</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 39%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Signature: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Daniel Mendelson</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">[Name of Entity]</TD>
    <TD>&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="border-bottom: Black 1pt solid">Daniel Mendelson</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:&nbsp;&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 35 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B><BR>
<B>REGISTRATION STATEMENT QUESTIONNAIRE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">In connection with the Registration Statement, please provide us
with the following information regarding the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please
state your organization&rsquo;s name exactly as it should appear in the Registration Statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Except as set forth below, your organization does not hold any equity
securities of the Company on behalf of another person or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">State any exceptions here:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If the Investor is not a natural person, please identify the natural
person or persons who will have voting and investment control over the Securities owned by the Investor:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 91%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Address
of your organization:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 25%">&nbsp;</TD>
    <TD STYLE="width: 41%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Telephone:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Fax:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Contact Person:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Have
you or your organization had any position, office or other material relationship within the past three years with the Company or
its affiliates? (Include any relationships involving you or any of your affiliates, officers, directors, or principal equity holders
(5% or more) that has held any position or office or has had any other material relationship with the Company (or its predecessors
or affiliates) during the past three years.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; text-align: right">_______</TD>
    <TD STYLE="width: 12%; text-align: center">Yes</TD>
    <TD STYLE="width: 13%; text-align: center">_______</TD>
    <TD STYLE="width: 37%; text-align: left">No</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If yes, please indicate the nature of any such relationship below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Are
you the beneficial owner of any other securities of the Company? (Include any equity securities that you beneficially own or have
a right to acquire within sixty (60) days after the date hereof, and as to which you have sole voting power, shared voting power,
sole investment power or shared investment power.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; text-align: right">_______</TD>
    <TD STYLE="width: 12%; text-align: center">Yes</TD>
    <TD STYLE="width: 13%; text-align: center">_______</TD>
    <TD STYLE="width: 37%; text-align: left">No</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If yes, please describe the nature and amount of such ownership
as of a recent date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as set forth below, you wish that all the shares of the Company&rsquo;s common stock beneficially owned by you or that you have
the right to acquire from the Company be offered for your account in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">State any exceptions here:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Have
you made or are you aware of any arrangements relating to the distribution of the shares of the Company pursuant to the Registration
Statement?</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; text-align: right">_______</TD>
    <TD STYLE="width: 12%; text-align: center">Yes</TD>
    <TD STYLE="width: 13%; text-align: center">_______</TD>
    <TD STYLE="width: 37%; text-align: left">No</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If yes, please describe the nature and amount of such arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FINRA
Matters</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State
below whether (i) you or any <I>associate</I> or <I>affiliate</I> of yours are a <I>member</I> of the FINRA, a <I>controlling</I>
shareholder of an FINRA <I>member</I>, a <I>person assoc</I>i<I>ated with a member</I>, a direct or indirect <I>affiliate</I> of
a <I>member</I>, or an <I>underwriter or related person</I> with respect to the proposed offering; (ii) you or any <I>associate</I>
or <I>affiliate</I> of yours owns any stock or other securities of any FINRA <I>member</I> not purchased in the open market; or
(iii) you or any <I>associate</I> or <I>affiliate</I> of yours has made any outstanding subordinated loans to any FINRA <I>member</I>.
If you are a general or limited partnership, a no answer asserts that no such relationship exists for you as well as for each of
your general or limited partners.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; text-align: right">_______</TD>
    <TD STYLE="width: 12%; text-align: center">Yes</TD>
    <TD STYLE="width: 13%; text-align: center">_______</TD>
    <TD STYLE="width: 37%; text-align: left">No</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If &ldquo;yes,&rdquo; please identify the FINRA <I>member</I> and
describe your relationship, including, in the case of a general or limited partner, the name of the partner:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If you answer &ldquo;no&rdquo; to Question 7(a), you need not respond
to Question 7(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State
below whether you or any <I>associate</I> or <I>affiliate</I> of yours has been an underwriter, or a <I>controlling</I> person
or member of any investment banking or brokerage firm which has been or might be an underwriter for securities of the Corporation
or any <I>affiliate</I> thereof including, but not limited to, the common stock now being registered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; text-align: right">_______</TD>
    <TD STYLE="width: 12%; text-align: center">Yes</TD>
    <TD STYLE="width: 13%; text-align: center">_______</TD>
    <TD STYLE="width: 37%; text-align: left">No</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">If &ldquo;yes,&rdquo; please identify the FINRA <I>member</I> and
describe your relationship, including, in the case of a general or limited partner, the name of the partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>ACKNOWLEDGEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The undersigned hereby agrees to notify the Company promptly of
any changes in the foregoing information which should be made as a result of any developments, including the passage of time. The
undersigned also agrees to provide the Company and the Company&rsquo;s counsel any and all such further information regarding the
undersigned promptly upon request in connection with the preparation, filing, amending, and supplementing of the Registration Statement
(or any prospectus contained therein). The undersigned hereby consents to the use of all such information in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The undersigned understands and acknowledges that the Company will
rely on the information set forth herein for purposes of the preparation and filing of the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The undersigned understands that the undersigned may be subject
to serious civil and criminal liabilities if the Registration Statement, when it becomes effective, either contains an untrue statement
of a material fact or omits to state a material fact required to be stated in the Registration Statement or necessary to make the
statements in the Registration Statement not misleading. The undersigned represents and warrants that all information it provides
to the Company and its counsel is currently accurate and complete and will be accurate and complete at the time the Registration
Statement becomes effective and at all times subsequent thereto, and agrees during the effectiveness period of the Registration
Statement and any additional period in which the undersigned is making sales of Shares under and pursuant to the Registration Statement
to notify the Company immediately of any misstatement of a material fact in the Registration Statement, and of the omission of
any material fact necessary to make the statements contained therein not misleading.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>Dated: ___________</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name of Investor:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 36%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Name:</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Title:</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT B</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PLAN OF DISTRIBUTION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders may, from time to time, sell any or all
of their shares of common stock on any stock exchange, market or trading facility on which the shares are traded or in private
transactions. These sales may be at fixed or negotiated prices. The selling stockholders may use any one or more of the following
methods when selling shares:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the
block as principal to facilitate the transaction;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>purchases by a broker-dealer as principal and resale by the broker-dealer for its account;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>an exchange distribution in accordance with the rules of the applicable exchange;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>privately negotiated transactions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>short sales;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>broker-dealers may agree with the selling stockholders to sell a specified number of such shares at a stipulated price per
share;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>a combination of any such methods of sale; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>any other method permitted pursuant to applicable law.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders may also sell shares under Rule 144 under
the Securities Act, if available, rather than under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Broker-dealers engaged by the selling stockholders may arrange for
other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the selling stockholders
(or, if any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in amounts to be negotiated. The selling
stockholders do not expect these commissions and discounts to exceed what is customary in the types of transactions involved. Any
profits on the resale of shares of common stock by a broker-dealer acting as principal might be deemed to be underwriting discounts
or commissions under the Securities Act. Discounts, concessions, commissions and similar selling expenses, if any, attributable
to the sale of shares will be borne by a selling stockholder. The selling stockholders may agree to indemnify any agent, dealer
or broker-dealer that participates in transactions involving sales of the shares if liabilities are imposed on that person under
the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders may from time to time pledge or grant a
security interest in some or all of the shares of common stock owned by them and, if they default in the performance of their secured
obligations, the pledgees or secured parties may offer and sell the shares of common stock from time to time under this prospectus
after we have filed a supplement to this prospectus under Rule 424(b) or other applicable provision of the Securities Act of 1933
supplementing or amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as
selling stockholders under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders also may transfer the shares of common
stock in other circumstances, in which case the transferees, pledgees or other successors in interest will be the selling beneficial
owners for purposes of this prospectus and may sell the shares of common stock from time to time under this prospectus after we
have filed a supplement to this prospectus under Rule 424(b) or other applicable provision of the Securities Act of 1933 supplementing
or amending the list of selling stockholders to include the pledgee, transferee or other successors in interest as selling stockholders
under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders and any broker-dealers or agent that are
involved in selling the shares of common stock may be deemed to be &ldquo;underwriters&rdquo; within the meaning of the Securities
Act in connection with such sales. In such event, any commissions received by such broker-dealers or agent and any profit on the
resale of the shares of common stock purchased by them may be deemed to be underwriting commissions or discounts under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">We are required to pay all fees and expenses incident to the registration
of the shares of common stock. We have agreed to indemnify the selling stockholders against certain losses, claims, damages and
liabilities, including liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The selling stockholders have advised us that they have not entered
into any agreements, understandings or arrangements with any underwriters or broker-dealers regarding the sale of their shares
of common stock, nor is there an underwriter or coordinating broker acting in connection with a proposed sale of shares of common
stock by any selling stockholder. If we are notified by any selling stockholder that any material arrangement has been entered
into with a broker-dealer for the sale of shares of common stock, if required, we will file a supplement to this prospectus. If
the selling stockholders use this prospectus for any sale of the shares of common stock, they will be subject to the prospectus
delivery requirements of the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The anti-manipulation rules of Regulation M under the Securities
Exchange Act of 1934 may apply to sales of our common stock and activities of the selling stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>v404684_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">THIS WARRANT AND THE SECURITIES ISSUABLE UPON
EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;),
OR ANY STATE SECURITIES LAW, AND MAY NOT BE OFFERED FOR SALE, SOLD OR TRANSFERRED UNLESS A REGISTRATION STATEMENT UNDER SUCH ACT
AND APPLICABLE STATE SECURITIES LAWS SHALL BE EFFECTIVE WITH RESPECT THERETO, OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
ACT AND APPLICABLE STATE SECURITIES LAWS IS AVAILABLE IN CONNECTION WITH SUCH OFFER, SALE OR TRANSFER.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Champions Oncology, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>WARRANT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">Warrant No. [&bull;]&#9;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: right">Dated: March 13, 2015</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Champions Oncology, Inc., a Delaware corporation
(the &ldquo;<B>Company</B>&rdquo;), hereby certifies that, for value received, [Name_of_Investor] or its registered assigns (the
&ldquo;<B>Holder</B>&rdquo;), is entitled to purchase from the Company up to a total of [&bull;] fully paid and non-assessable
shares of common stock, $0.001 par value per share (the &ldquo;<B>Common Stock</B>&rdquo;), of the Company (each such share, a
&ldquo;<B>Warrant Share</B>&rdquo; and all such shares, the &ldquo;<B>Warrant Shares</B>&rdquo;) at an exercise price equal to
$0.48 per share (subject to appropriate adjustment provided in Section 9 herein, the &ldquo;<B>Exercise Price</B>&rdquo;), at any
time after the date hereof (the &ldquo;<B>Initial Exercise Date</B>&rdquo;) and through and including the date that is sixty (60)
months from the date hereof (or, if such date is not a Business Day, on the Business Day immediately following such date) (the
&ldquo;<B>Expiration Date</B>&rdquo;), subject to the following terms and conditions. This Warrant (this &ldquo;<B>Warrant</B>&rdquo;)
is one of a series of similar warrants issued pursuant to that certain Securities Purchase Agreement, dated as of March 11, 2015,
by and among the Company and the Investors identified therein (the &ldquo;<B>Purchase Agreement</B>&rdquo;). All such warrants
are referred to herein, collectively, as the &ldquo;<B>Warrants</B>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">1. <U>Definitions</U>. In addition to the terms
defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein have the meanings given to such terms
in the Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">2. <U>Registration of Warrant</U>. The Company
shall register this Warrant, upon records to be maintained by the Company for that purpose (the &ldquo;<B>Warrant Register</B>&rdquo;),
in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of record 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">3. <U>Transfers and Registration of Transfers</U>.
The Holder may sell, transfer, assign, pledge or otherwise dispose of this Warrant, in whole or in part, as long as such sale or
other disposition is made pursuant to an effective registration statement or an exemption from the registration requirements of
the Securities Act, in which case the Holder shall provide an opinion of counsel reasonably acceptable to the Company that such
transfer or other disposition is so exempt. Upon such transfer or other disposition (other than a pledge), the Holder shall deliver
this Warrant to the Company together with a written notice to the Company, substantially in the form of the Transfer Notice attached
hereto as Exhibit A (the &ldquo;<B>Transfer Notice</B>&rdquo;), indicating the person or persons to whom this Warrant shall be
transferred and, if less than all of this Warrant is transferred, the number of Warrant Shares to be covered by the part of this
Warrant to be transferred to each such person. The Company shall register the transfer of any portion of this Warrant in the Warrant
Register, upon surrender of this Warrant, with the Transfer Notice duly completed and signed, to the Company at its address specified
in the Purchase Agreement. Within three (3) Business Days of any such registration of transfer, a new warrant to purchase Common
Stock, in substantially the form of this Warrant (any such new warrant, a &ldquo;<B>New Warrant</B>&rdquo;), evidencing the portion
of this Warrant so transferred shall be issued to the transferee and a New Warrant evidencing the remaining portion of this Warrant
not so transferred, if any, shall be issued to the transferring Holder. The acceptance of the New Warrant by the transferee thereof
shall be deemed the acceptance by such transferee of all of the rights and obligations of a holder of a Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">4. <U>Exercise and Duration of Warrants</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(a) This Warrant shall be exercisable by the
registered Holder at any time and from time to time on or after the Initial Exercise Date and including the Expiration Date, as
to all or any part of the Warrant Shares covered hereby. At 6:00 p.m., New York City time on the Expiration Date, the portion of
this Warrant not exercised prior thereto shall be and become void and of no value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(b) A Holder may exercise this Warrant by
delivering to the Company (i)&nbsp;an exercise notice, in the form attached hereto (the &ldquo;<B>Exercise Notice</B>&rdquo;),
appropriately completed and duly signed, and (ii)&nbsp;either (A) in the case of a cash exercise in immediately available funds
(&ldquo;<B>Cash Exercise</B>&rdquo;), payment of the Exercise Price for the number of Warrant Shares as to which this Warrant is
being exercised, or (B) in the event of a Cashless Exercise (as defined below), no payment is required; and the date such items
are delivered to the Company (as determined in accordance with the notice provisions hereof) is an &ldquo;<B>Exercise Date</B>.&rdquo;
The Holder shall not be required to deliver the original Warrant in order to effect an exercise hereunder. Execution and delivery
of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance of a New Warrant evidencing
the right to purchase the remaining number of Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(c) In the case of a dispute between the Company
and the Holder as to the calculation of the Exercise Price or the number of Warrant Shares issuable hereunder (including, without
limitation, the calculation of any adjustment pursuant to Section 9 below), the Company shall issue to the Holder the number of
Warrant Shares that are not disputed within the time periods specified in Section 5 below and shall submit the disputed calculations
to a certified public accounting firm of national recognition (other than the Company&rsquo;s regularly retained accountants) within
three (3) Business Days following the Company&rsquo;s receipt of the Holder&rsquo;s Exercise Notice. The Company shall cause such
accountant to calculate the Exercise Price and/or the number of Warrant Shares issuable hereunder and to notify the Company and
the Holder of the results in writing no later than three (3) Business Days following the day on which such accountant received
the disputed calculations (the &ldquo;<B>Dispute Procedure</B>&rdquo;). Such accountant&rsquo;s calculation shall be deemed conclusive
absent manifest error. The fees of any such accountant shall be borne by the party whose calculations were most at variance with
those of such accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">5. <U>Delivery of Warrant Shares</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(a) Upon exercise of this Warrant, the Company
shall, (A) in the case of a Cash Exercise, no later than the close of business on the later to occur of (i) the third (3rd) Business
Day following the Exercise Date set forth in such Exercise Notice and (ii) such later date on which the Company shall have received
payment of the Exercise Price, (B) in the case of a Cashless Exercise, no later than the close of business on the third (3rd) Business
Day following the Exercise Date set forth in such Exercise Notice, and (C) with respect to Warrant Shares that are the subject
of a Dispute Procedure, the close of business on the third (3rd) Business Day following the determination made pursuant to Section
4(c) (each of the dates specified in (A), (B) or (C) being referred to as a &ldquo;<B>Delivery Date</B>&rdquo;), the Company shall
promptly issue or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or names
as the Holder may designate, a certificate for the Warrant Shares issuable upon such exercise, free of restrictive legends unless
a legend is required to be placed on the certificate pursuant to Section&nbsp;2.1(f) of the Purchase Agreement. The Holder, or
any Person so designated by the Holder to receive Warrant Shares, shall be deemed to have become the holder of record of such Warrant
Shares as of the Exercise Date. The Company shall, provided that the Transfer Agent is participating in The Depository Trust Company
(&ldquo;<B>DTC</B>&rdquo;) Fast Automated Securities Transfer Program (&ldquo;<B>FAST</B>&rdquo;), use its commercially reasonable
efforts to credit such aggregate number of Warrant Shares to which the Holder is entitled pursuant to such exercise to the Holder&rsquo;s
or its designee&rsquo;s balance account with DTC through its Deposit Withdrawal Agent Commission system (&ldquo;<B>DWAC</B>&rdquo;);
<U>provided further</U>, that the Holder provides the Company the reasonably necessary details to effect the foregoing DWAC delivery.
In the event that the Transfer Agent is not a participant in FAST, or if the Warrant Shares are not otherwise eligible for delivery
through FAST, or if the Holder so specifies in an Exercise Notice or otherwise in writing on or before the Exercise Date, the Company
shall effect delivery of Warrant Shares by delivering to the Holder or its nominee physical certificates representing such Warrant
Shares, no later than the close of business on such Delivery Date. Warrant Shares delivered to the Holder shall not contain any
restrictive legend as long as such Warrant Shares have been resold (as certified in writing by the Holder to the Company (x) pursuant
to an effective Registration Statement (as defined in the 2015 Amended and Restated Registration Rights Agreement) or (y) pursuant
to Rule 144 under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(b) This Warrant is exercisable, either in
its entirety or, from time to time, for a portion of the number of Warrant Shares. Upon surrender of this Warrant following one
or more partial exercises, the Company shall issue or cause to be issued, at its expense, a New Warrant evidencing the right to
purchase the remaining number of Warrant Shares; <I>provided, however, </I>that the Holder shall be entitled to exercise all or
any portion of such New Warrant at any time following the time at which this Warrant is exercised, regardless of whether the Company
has actually issued such New Warrant or delivered to the Holder a certificate therefor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(c) The Company&rsquo;s obligations to issue
and deliver Warrant Shares in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction
by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against
any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach
or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law
by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the
Company to the Holder in connection with the issuance of Warrant Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(d) In the event that the Company fails for
any reason to deliver to the Holder the number of Warrant Shares specified in the applicable Exercise Notice on or before the Delivery
Date therefor (an &ldquo;<B>Exercise Default</B>&rdquo;), the Company shall pay to the Holder payments (&ldquo;<B>Exercise Default
Payments</B>&rdquo;) in the amount of (i) (N/365) <U>multiplied by</U> (ii) the aggregate Exercise Price of the Warrant Shares
which are the subject of such Exercise Default <U>multiplied by</U> (iii) the lower of twelve percent (12%) per annum and the maximum
rate permitted by applicable law (the &ldquo;<B>Default Interest Rate</B>&rdquo;), where &ldquo;N&rdquo; equals the number of days
elapsed between the original Delivery Date of such Warrant Shares and the date on which all of such Warrant Shares are issued and
delivered to the Holder. Cash amounts payable hereunder shall be paid on or before the fifth (5th) Business Day of each calendar
month following the calendar month in which such amount has accrued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(e) In the event of an Exercise Default, the
Holder may, upon written notice to the Company, regain on the date of such notice the rights of the Holder under the exercised
portion of this Warrant that is the subject of such Exercise Default. In such event, the Holder shall retain all of the Holder&rsquo;s
rights and remedies with respect to the Company&rsquo;s failure to deliver such Warrant Shares (including without limitation the
right to receive the cash payments specified in Section 5(d) above); <I>provided, however, </I>that such cash payments shall cease
to accrue effective as of the date of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(f) The Holder&rsquo;s rights and remedies
hereunder are cumulative, and no right or remedy is exclusive of any other. In addition to the amounts specified herein, the Holder
shall have the right to pursue all other remedies available to it at law or in equity (including, without limitation, a decree
of specific performance and/or injunctive relief). Nothing herein shall limit the Holder&rsquo;s right to pursue actual damages
for the Company&rsquo;s failure to issue and deliver Warrant Shares on the applicable Delivery Date (including, without limitation,
damages relating to any purchase of Common Stock by the Holder to make delivery on a sale effected in anticipation of receiving
Warrant Shares upon exercise, such damages to be in an amount equal to (A) the aggregate amount paid by the Holder for the Common
Stock so purchased <U>minus</U> (B)&nbsp;the aggregate amount of net proceeds, if any, received by the Holder from the sale of
the Warrant Shares issued by the Company pursuant to such exercise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">6. <U>Charges, Taxes and Expenses</U>. Issuance
and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Holder
for any issue or transfer tax, withholding tax, transfer agent fee or other incidental tax or expense in respect of the issuance
of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however, that the Company shall not
be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates for
Warrant Shares or Warrants in a name other than that of the Holder. The Holder shall be responsible for all other tax liability
that may arise as a result of holding or transferring this Warrant or receiving Warrant Shares upon exercise hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">7. <U>Replacement of Warrant</U>. If this Warrant
is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon
cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon receipt of evidence reasonably
satisfactory to the Company of such loss, theft or destruction and customary and reasonable bond or indemnity, if requested. Applicants
for a New Warrant under such circumstances shall also comply with such other reasonable regulations and procedures and pay such
other reasonable third-party costs as the Company may prescribe.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">8. <U>Reservation of Warrant Shares</U>. The
Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized but unissued and
otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant
as herein provided, the number of Warrant Shares which are then issuable and deliverable upon the exercise of this entire Warrant,
free from preemptive rights or any other contingent purchase rights of persons other than the Holder (after giving effect to the
adjustments and restrictions of Section&nbsp;9, if any). The Company covenants that all Warrant Shares so issuable and deliverable
shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly
authorized, issued and fully paid and nonassessable. The Company will take all such action as may be necessary to assure that such
shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of any securities exchange or automated quotation system upon which the Common Stock may be listed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">9. <U>Certain Adjustments</U>. The Exercise
Price and number of Warrant Shares issuable upon exercise of this Warrant are subject to adjustment from time to time as set forth
in this Section&nbsp;9.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(a) <U>Stock Dividends and Splits</U>. 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 9(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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(b) <U>Pro Rata Distributions</U>. If the
Company, at any time while this Warrant is outstanding, distributes to holders of Common Stock (i)&nbsp;evidences of its indebtedness,
(ii)&nbsp;any security (other than a distribution of Common Stock covered by the preceding paragraph), (iii)&nbsp;rights or warrants
to subscribe for or purchase any security, or (iv)&nbsp;cash or any other asset, or rights to acquire such assets, as a partial
liquidating dividend or otherwise, including without limitation any dividend or distribution to the Company&rsquo;s stockholders
in shares (or rights to acquire shares) of capital stock of a subsidiary (in each case, &ldquo;<B>Distributed Property</B>&rdquo;),
then in each such case the Holder shall be entitled, upon exercise of this Warrant for the purchase of any or all of the Warrant
Shares, to receive the amount of Distributed Property which would have been payable to the Holder had such Holder been the holder
of such Warrant Shares on the record date for the determination of stockholders entitled to such Distributed Property. The Company
will at all times set aside in escrow and keep available for distribution to such holder upon exercise of this Warrant a portion
of the Distributed Property to satisfy the distribution to which such Holder is entitled pursuant to the preceding sentence. The
Company shall deliver written notice of such distribution of Distributed Property (a &ldquo;<B>Distribution Notice</B>&rdquo;)
to the Holder at least thirty (30) days prior to the earlier to occur of (i)&nbsp;the record date for determining stockholders
entitled to such Distribution and (ii) the date on which such distribution is made (the &ldquo;<B>Distribution Date</B>&rdquo;).
In the Distribution Notice to a Holder, the Company must indicate whether the Company has elected (A) to deliver to such Holder
the same amount and type of Distributed Property as though the Holder were a holder on the determination date therefor of a number
of shares of Common Stock into which the this Warrant is exercisable as of such determination date (such number of shares to be
determined at the Exercise Price then in effect and without giving effect to any limitations on such exercise) or (B) to reduce
the Exercise Price as of the determination date therefor by an amount equal to the fair market value of the Distributed Property
<U>divided by</U> the number of shares of Common Stock as to which such distribution is to be made, such fair market value to be
reasonably determined in good faith by the independent members of the Company&rsquo;s Board of Directors. If the Company does not
notify the Holders of its election pursuant to the preceding sentence within two (2) Business Days following the date on which
the Company publicly announces a distribution, the Company shall be deemed to have elected clause (A) of the preceding sentence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(c)&#9;<U>Fundamental Transactions</U>. If,
at any time while this Warrant is outstanding, (i)&nbsp;the Company effects any merger or consolidation of the Company with or
into another Person, (ii)&nbsp;the Company effects any sale of all or substantially all of its assets in one or a series of related
transactions, (iii)&nbsp;any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to
which holders of Common Stock owning more than 50% of the outstanding shares of Common Stock (not including any shares of Common
Stock held by the Person or Persons making or affiliated with the Persons making the tender or exchange offer) tender or exchange
their shares for other securities, cash or property, or (iv)&nbsp;the Company effects any reclassification of the Common Stock
or any compulsory share exchange or any other transaction pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property of the Company or another entity (other than as a result of a subdivision or combination
of shares of Common Stock covered by Section&nbsp;9(a) above) (in any such case, a &ldquo;<B>Fundamental Transaction</B>&rdquo;),
then the Holder shall have the right thereafter to receive, upon exercise of this Warrant, on a per share basis, the same amount
and kind of securities, cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction
if it had been, immediately prior to such Fundamental Transaction, the holder of the number of Warrant Shares then issuable upon
exercise of this Warrant (the &ldquo;<B>Alternate Consideration</B>&rdquo;). The aggregate Exercise Price for this Warrant will
not be affected by any such Fundamental Transaction, but the Company shall apportion such aggregate Exercise Price among the Alternate
Consideration in a 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. At the Holder&rsquo;s request, any successor to the Company or surviving entity in such
Fundamental Transaction shall issue to the Holder a New Warrant consistent with the foregoing provisions and evidencing the Holder&rsquo;s
right to purchase the Alternate Consideration for the aggregate Exercise Price upon exercise thereof. The terms of any agreement
pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to
comply with the provisions of this paragraph (c)&nbsp;and insuring that the Warrant (or any such replacement security) will be
similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(e) <U>Number of Warrant Shares</U>. Simultaneously
with any adjustment to the Exercise Price pursuant to Section&nbsp;9(a), the number of Warrant Shares that may be purchased upon
exercise of this Warrant shall be adjusted proportionately, so that after such adjustment the aggregate Exercise Price payable
hereunder for the increased or decreased number of Warrant Shares, as applicable, shall be the same as the aggregate Exercise Price
in effect immediately prior to such adjustment. In the event that at any time, as a result of an adjustment made pursuant to this
Section 9, the Holder of this Warrant shall, upon exercise of this Warrant, become entitled to receive securities or assets (other
than Common Stock) then, wherever appropriate, all references herein to shares of Common Stock shall be deemed to refer to and
include such shares and/or other securities or assets; and thereafter the number of such shares and/or other securities or assets
shall be subject to adjustment from time to time in a manner and upon terms as nearly equivalent as practicable to the provisions
of this Section 9. Any adjustment made herein pursuant to Section 9(a) that results in a decrease in the Exercise Price shall also
effect a proportional increase in the number of shares of Common Stock into which this Warrant is exercisable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(f) <U>Calculations</U>. The number of shares
of Common Stock outstanding at any given time shall not include shares owned or held by or for the account of the Company, and
the disposition of any such shares shall be considered an issue or sale of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(g) <U>Notice of Adjustments</U>. Upon the
occurrence of each adjustment pursuant to this Section&nbsp;9 or any change in the number or type of stock, securities and/or other
property issuable upon exercise of this Warrant, the Company at its expense will promptly compute such adjustment or change in
accordance with the terms of this Warrant and prepare a certificate (an &ldquo;<B>Adjustment Notice</B>&rdquo;) setting forth such
adjustment or change, including a statement of the adjusted Exercise Price and adjusted number or type of Warrant Shares or other
securities issuable upon exercise of this Warrant (as applicable), describing the transactions giving rise to such adjustments
or changes and showing in detail the facts upon which such adjustment or change is based and, on or before the time that it delivers
an Adjustment Notice, publicly disclose the contents thereof. Upon written request, the Company will promptly deliver a copy of
each such Adjustment Notice to the Holder and to the Transfer Agent. The failure of the Company to deliver an Adjustment Notice
shall not affect the validity of any such adjustment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(h) <U>Notice of Corporate Events</U>. If
the Company (i)&nbsp;declares a dividend or any other distribution of cash, securities or other property in respect of its Common
Stock, including without limitation any granting of rights or warrants to subscribe for or purchase any capital stock of the Company
or any Subsidiary, (ii)&nbsp;authorizes or approves, enters into any agreement contemplating or solicits stockholder approval for
any Fundamental Transaction or (iii)&nbsp;authorizes the voluntary dissolution, liquidation or winding up of the affairs of the
Company, then the Company shall deliver to the Holder a notice describing the material terms and conditions of such transaction,
at least ten (10)&nbsp;Business Days prior to the applicable record or effective date on which a Person would need to hold Common
Stock in order to participate in or vote with respect to such transaction (or if no such date is applicable, at least ten (10)
Business Days prior to the closing or effectiveness of the transaction), and the Company will take all steps reasonably necessary
in order to insure that the Holder is given the practical opportunity to exercise this Warrant prior to such time so as to participate
in or vote with respect to such transaction; <U>provided</U>, <U>however</U>, that the failure to deliver such notice or any defect
therein shall not affect the validity of the corporate action required to be described in such notice. The notice requirements
in this Section 9(h) shall be in addition to the requirements for notice in connection with Distributed Property as set forth in
Section 9(b) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">10. <U>Payment of Exercise Price</U>. The Holder
shall pay the Exercise Price (i)&nbsp;through a Cash Exercise or (ii)&nbsp;if an effective Registration Statement is not available
for the resale of all of the Warrant Shares issuable hereunder at the time an exercise notice, in the form attached hereto as Exhibit
B (the &ldquo;<B>Exercise Notice</B>&rdquo;), is delivered to the Company, through a &ldquo;cashless exercise&rdquo; (a &ldquo;<B>Cashless
Exercise</B>&rdquo;) in which event the Company shall issue to the Holder the number of Warrant Shares determined as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 20%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="width: 78%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">X = Y * [(A-B)/A]</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; text-align: center">where:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">X = the number of Warrant Shares to be issued to the Holder.</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">Y = the number of Warrant Shares with respect to which this Warrant is being exercised.</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">A = the Market Price (as defined below) as of the Exercise Date.</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">B = the Exercise Price.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For purposes of Rule 144 promulgated under the Securities Act, it
is intended, understood and acknowledged that the Warrant Shares issued in a cashless exercise transaction shall be deemed to have
been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the date this
Warrant was originally issued pursuant to the Purchase Agreement. &ldquo;<B>Market Price</B>&rdquo; shall mean 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 stock
exchange, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the stock
exchange 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)&nbsp; the volume weighted average price of the Common Stock for such
date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or quoted for trading
on the OTC Bulletin Board and if prices for the Common Stock are then reported in the &ldquo;Pink Sheets&rdquo; published by Pink
OTC Markets, 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)&nbsp;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 Investors of a majority in interest of the Shares then outstanding
and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">11. <U>Fractional Shares</U>. The Company shall
not be required to issue or cause to be issued fractional Warrant Shares on the exercise of this Warrant. If any fraction of a
Warrant Share would, except for the provisions of this Section 11, be issuable upon exercise of this Warrant, the Company shall,
in lieu of issuing any such fractional share, pay to the Holder an amount in cash equal to the product resulting from multiplying
such fraction by the Market Price as of the Exercise Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">12. <U>Notices</U>. Any and all notices or
other communications or deliveries hereunder (including without limitation any Exercise Notice) shall be in writing and shall be
deemed given and effective on the earliest of (i)&nbsp;the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number specified in the Purchase Agreement prior to 6:30 p.m. (New York City time) on a Trading Day,
(ii)&nbsp;the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the
facsimile number specified in the Purchase Agreement on a day that is not a Trading Day or later than 6:30 p.m. (New York City
time) on any Trading Day, (iii)&nbsp;the Trading Day following the date of mailing, if sent by nationally recognized overnight
courier service, or (iv)&nbsp;upon actual receipt by the party to whom such notice is required to be given. The address for such
notices or communications shall be as set forth in the Purchase Agreement with respect to the Company and, with respect to the
Holder, the Holder&rsquo;s last address as shown on the Warrant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">13. <U>Warrant Agent</U>. The Company shall
serve as warrant agent under this Warrant. Upon thirty (30)&nbsp;days&rsquo; notice to the Holder, the Company may appoint a new
warrant agent. Any corporation into which the Company or any new warrant agent may be merged or any corporation resulting from
any consolidation to which the Company or any new warrant agent shall be a party or any corporation to which the Company or any
new warrant agent transfers substantially all of its corporate trust or stockholder services business shall be a successor warrant
agent under this Warrant without any further act. Any such successor warrant agent shall promptly cause notice of its succession
as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at the Holder&rsquo;s last address as shown
on the Warrant Register.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">14. <U>Limitation on Exercise</U>. <B> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">[(a) The Company shall not effect the exercise
of this Warrant, and the Holder shall not have the right to exercise this Warrant, to the extent that after giving effect to such
exercise, such Person (together with such Person's affiliates) would beneficially own in excess of 9.99% (the &quot;<B>Maximum
Percentage</B>&quot;) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes
of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such Person and its affiliates
shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination
of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining,
unexercised portion of this Warrant beneficially owned by such Person and its affiliates and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates
(including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion
or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph,
beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act. For purposes of this Warrant, in
determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common
Stock as reflected in (1) the Company's most recent Form 10-K, Form 10-Q, Current Report on Form 8-K or other public filing with
the Securities and Exchange Commission, as the case may be, (2) a more recent public announcement by the Company or (3) any other
notice by the Company or the Transfer Agent setting forth the number of shares of Common Stock outstanding. For any reason at any
time, upon the written or oral request of the Holder, the Company shall within two (2) Business Days 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 and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. By written
notice to the Company, the Holder may waive the provisions of this Section 14 or increase or decrease the Maximum Percentage to
any other percentage specified in such notice, but (i) any such waiver or increase will not be effective until the sixty-first
(61<SUP>st</SUP>) day after such notice is delivered to the Company and (ii) any such increase or decrease will apply only to the
Holder and not to any other holder of Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(b) The Company&rsquo;s obligation to issue
shares of Common Stock in excess of any limitation referred to in this Section 14 shall be suspended (and shall not terminate or
expire notwithstanding any contrary provisions hereof) until such time, if any, as such shares of Common Stock may be issued in
compliance with such limitation, but in no event later than the Expiration Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(c) The provisions of this Section 14 shall
be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 14 to correct this
Section 14 (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.]<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">15. <U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(a) Subject to the restrictions on transfer
set forth on the first page hereof, this Warrant may be assigned by the Holder. This Warrant may not be assigned by the Company
except to a successor in the event of a Fundamental Transaction. This Warrant shall be binding on the parties hereto and their
respective successors and assigns. This Warrant shall be for the sole and exclusive benefit of the Holder of this Warrant and nothing
in this Warrant shall be construed to confer upon any person other than the Holder of this Warrant any legal or equitable right,
remedy or claim hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>1
</SUP></FONT>ONLY WITH RESPECT TO NEA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(b) The Company will not, by amendment of
its governing documents 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 action as may be
necessary or appropriate in order to protect the rights of the Holder against impairment. Without limiting the generality of the
foregoing, the Company (i)&nbsp;will not increase the par value of any Warrant Shares above the amount payable therefor on such
exercise, (ii)&nbsp;will take all such action as may be reasonably necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable Warrant Shares on the exercise of this Warrant, and (iii)&nbsp;will not close its
stockholder books or records in any manner which interferes with the timely exercise of this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(c) Nothing contained in this Warrant shall
be construed as imposing any liabilities on the Holder as a stockholder of the Company, whether such liabilities are asserted by
the Company or by creditors of the Company. Until the exercise of this Warrant, the Holder shall not have nor exercise any rights
by virtue hereof as a stockholder of the Company. Notwithstanding the foregoing, in the event (a)&nbsp;the Company effects a split
of the Common Stock by means of a stock dividend and the Exercise Price of and the number of Shares are adjusted as of the date
of the distribution of the dividend (rather than as of the record date for such dividend), and (b)&nbsp;the Holder exercises this
Warrant between the record date and the distribution date for such stock dividend, the Holder shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such exercise, notwithstanding
the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(d) All questions concerning the construction,
validity, enforcement and interpretation of this Warrant shall be governed by and construed and enforced in accordance with the
laws of the State of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
sitting in the city of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith
or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the transaction
documents), 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, or that such suit, action or proceeding is improper. Each party hereby
irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing
a copy thereof 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 Section&nbsp;12 hereof and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. The Company hereby waives all rights to a trial by jury.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(e) The headings herein are for convenience
only, do not constitute a part of this Warrant and shall not be deemed to limit or affect any of the provisions hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(f) In case any one or more of the provisions
of this Warrant shall be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions
of this Warrant shall not in any way be affected or impaired thereby and the parties will attempt in good faith to agree upon a
valid and enforceable provision which shall be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate
such substitute provision in this Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 48.95pt">(g)&#9;No amendment, modification or other
change to, or waiver of any provision of, this Warrant may be made unless such amendment, modification or change is (i) set forth
in writing and is signed by the Company and (ii) agreed to in writing by the holders of Warrants exercisable for a majority of
the number of shares into which the all of the then outstanding Warrants issued pursuant to the Purchase Agreement are exercisable
(without regard to any limitation contained herein on such exercise), it being understood that upon the satisfaction of the conditions
described in (i) and (ii) above, each Warrant (including any Warrant held by the Holder who did not execute the agreement specified
in (ii) above) shall be deemed to incorporate any amendment, modification, change or waiver effected thereby as of the effective
date thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURE PAGE FOLLOWS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">IN WITNESS WHEREOF, the Company has caused
this Warrant to be duly executed by its authorized officer as of the date first indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 1%">&nbsp;</TD>
    <TD STYLE="width: 44%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-size: 10pt"><B>CHAMPIONS ONCOLOGY, INC.</B></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">By:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">/s/ Joel Ackerman&nbsp;</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Name:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;Joel
        Ackerman</P></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt">Title:</TD>
    <TD STYLE="vertical-align: bottom; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: left; margin-bottom: 0">&nbsp;Chief
        Executive Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">TRANSFER NOTICE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">[To be completed and signed only upon transfer
of Warrant]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">FOR VALUE RECEIVED, the undersigned hereby
sells, assigns and transfers unto <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
the right represented by the within Warrant to purchase <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
shares of Common Stock of Champions Oncology, Inc. to which the within Warrant relates and appoints <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
attorney to transfer said right on the books of Champions Oncology, Inc. with full power of substitution in the premises.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 49%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; width: 48%">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Signature must conform in all respects to name of holder as specified on the face of the Warrant)</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Address of Transferee</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Taxpayer Identification Number</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT B </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(To be executed by the Holder to exercise the
right to purchase shares of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Common Stock under the foregoing Warrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">To Champions Oncology, Inc.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The undersigned is the Holder of Warrant No. <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
(the &ldquo;<B>Warrant</B>&rdquo;) issued by Champions Oncology, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;).
[The undersigned Holder acknowledges that the sale, transfer, assignment or hypothecation of the Warrant Shares to be issued upon
exercise of this Warrant is subject to the terms and conditions contained in Section&nbsp;14 of this Warrant.]<FONT STYLE="font: 10pt Times New Roman, Times, Serif"><SUP>2</SUP></FONT>
Capitalized terms used herein and not otherwise defined have the respective meanings set forth in the Warrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 60pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">1.</TD>
    <TD STYLE="font-size: 10pt">The Warrant is currently exercisable to purchase a total of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> Warrant Shares.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">2.</TD>
    <TD STYLE="font-size: 10pt">The undersigned Holder hereby exercises its right to purchase <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> Warrant Shares pursuant to the Warrant.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">3.</TD>
    <TD STYLE="font-size: 10pt">The Holder intends that payment of the Exercise Price shall be made as (check one):</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: center; text-indent: 0.5in"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
&ldquo;Cash Exercise&rdquo; under <U>Section 10</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 -40pt; text-align: center; text-indent: 0.5in"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
&ldquo;Cashless Exercise&rdquo; under <U>Section 10</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">4.</TD>
    <TD STYLE="font-size: 10pt">If the holder has elected a Cash Exercise, the holder shall pay the sum of $<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> to the Company in accordance with the terms of the Warrant.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">5.</TD>
    <TD STYLE="font-size: 10pt">Pursuant to this exercise, the Company shall deliver to the holder <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> Warrant Shares in accordance with the terms of the Warrant.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; font-size: 10pt">6.</TD>
    <TD STYLE="font-size: 10pt">Following this exercise, the Warrant shall be exercisable to purchase a total of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> Warrant Shares.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><SUP>2</SUP> Include in NEA warrant only.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated: <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> , <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name of Holder:</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 40%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 8%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Print) &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 50%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Signature must conform in all respects to name of holder as specified on the face of the Warrant)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Taxpayer Identification Number</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">ACKNOWLEDGED AND AGREED TO this <U>&nbsp;&nbsp;&nbsp;&nbsp; </U>day
        of <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>, 20<U>&nbsp;&nbsp;&nbsp;&nbsp;</U> </P></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">CHAMPIONS ONCOLOGY, INC.</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By: &nbsp;</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: &nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v404684_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: right">Exhibit 10.3</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">AMENDED AND
RESTATED 2011 SECURITIES PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">This AMENDED AND RESTATED
2011 SECURITIES PURCHASE AGREEMENT (this <U>&ldquo;Agreement&rdquo;),</U> dated as of March 13, 2015, by and between Champions
Oncology, Inc. (the &ldquo;<U>Company</U>&rdquo;) (previously known as Champions Biotechnology, Inc.), Battery Ventures IX, L.P.
(&ldquo;<U>Ventures</U>&rdquo;), Battery Investment Partners IX, LLC (together with Ventures, &ldquo;<U>Battery</U>&rdquo;), Joel
Ackerman (&ldquo;<U>Ackerman</U>&rdquo;) and Ronnie Morris (&ldquo;<U>Morris</U>&rdquo;) amends and restates in its entirety the
Securities Purchase Agreement dated as of March 24, 2011 (the &ldquo;<U>Original 2011 Securities</U> <U>Purchase Agreement</U>&rdquo;)
between the Company, Battery, Ackerman, Morris and the other parties to the Original 2011 Securities Purchase Agreement (such parties,
Battery, Ackerman and Morris being the &ldquo;<U>Investors</U>&rdquo;), as amended by the Amendment No. 1 to 2011 Securities Purchase
Agreement dated January 29, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Original 2011 Securities Purchase Agreement, the Company sold to each Investor, and each Investor purchased, on the terms
and subject to the conditions set forth in the Original 2011 Securities Purchase Agreement, (i) shares (the <U>&ldquo;Shares&rdquo;)</U>
of the Company&rsquo;s common stock, $.001 par value per share (the <U>&ldquo;Common Stock&rdquo;), </U>and (ii) a Warrant in the
form attached thereto as <U>Exhibit A</U> (each, a <U>&ldquo;Warrant&rdquo;</U> and, collectively with the other Warrants issued
thereunder, the <U>&ldquo;Warrants&rdquo;).</U> The shares of Common Stock into which the Warrants are exercisable are referred
to herein as the <U>&ldquo;Warrant Shares&rdquo;,</U> and the Shares, the Warrants, the Warrant Shares and the Put Option Shares
(as defined below) are collectively referred to herein as the <U>&ldquo;Securities&rdquo;.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40.5pt">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Battery,
Ackerman and Morris constitute the holders of at least a majority of the number of Shares and Warrant Shares into which all of
the Warrants then outstanding are exercisable, and thus this Agreement is binding upon all of the parties, including all of the
Investors, to the Original 2011 Securities Purchase Agreement pursuant to Section 7.12 of the Original 2011 Securities Purchase
Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company, Battery, Ackerman and Morris wish to amend and restate the Original 2011 Securities Purchase Agreement, including to add
a limitation with respect to the Put Right (as defined herein) and to delete the provisions of the Original 2011 Securities Purchase
Agreement regarding the issuance of anti-dilution shares for financings executed after the date of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">In consideration of the mutual
promises made herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Company and each Investor hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Purchase
and Sale of Shares and Warrants and Put Shares.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing
of Purchase and Sale; Purchase Price.</U> Upon the terms and subject to the satisfaction or waiver of the conditions set forth
in the Original 2011 Securities Purchase Agreement, the Company agreed to sell and each Investor agreed to purchase (i) the number
of Shares set forth below such Investor&rsquo;s name on the signature pages thereof, and (ii) a Warrant, if such Investor received
a Warrant, as indicated below such Investor&rsquo;s name on the signature page thereof. The date on which the initial closing of
a purchase and sale pursuant to the terms of the Original 2011 Securities Purchase Agreement occurred (the <U>&ldquo;Initial Closing&rdquo;)</U>
is hereinafter referred to as the <U>&ldquo;Initial Closing Date&rdquo;.</U> The Initial Closing was deemed to occur at the offices
of Neuberger, Quinn, Gielen, Rubin &amp; Gibber, P.A., One South Street, 27<SUP>th</SUP> Floor, Baltimore, Maryland 21202, when
(A) the Original 2011 Securities Purchase Agreement and the other Transaction Documents (as defined below) were executed and delivered
by the Company and, to the extent applicable, by each Investor, (B) each of the conditions to the Closing described in Section
6 hereof was satisfied or waived as specified therein and (C) full payment of each Investor&rsquo;s Purchase Price (as defined
below) was made by such Investor to the Company by wire transfer of immediately available funds against physical delivery by the
Company of duly executed certificates representing the Shares and Warrant being purchased by such Investor. If, subsequent to the
Initial Closing Date, additional Investors purchase Shares pursuant to the terms of this Agreement, the closings of such additional
purchases shall hereinafter be referred to as <U>&ldquo;Additional Closings&rdquo;</U> and the date on which each such Additional
Closing takes place is hereinafter referred to as <U>&ldquo;Additional Closing Dates&rdquo;.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Investor Put Option.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif">Subject
to adjustments pursuant to Section 1.2(b), if any, upon the occurrence of a Put Option Trigger Event, each Investor shall have
the right to elect to require the Company to acquire, severally and not jointly, from such Investor the Shares held by such Investor
(the &ldquo;<U>Put Shares</U>&rdquo;) for an amount equal to the number of Put Shares times the Per Share Price (the &ldquo;<U>Put
Right</U>&rdquo;). An Investor may exercise their Put Right by delivering written notice to the Company (the &ldquo;<U>Put Option
Exercise Notice</U>&rdquo;) within thirty (30) days of a Put Option Trigger Event (the <U>&ldquo;Put Option Exercise Deadline</U>&rdquo;),
which shall indicate (x) the total number of Put Shares to be acquired from the exercising Investor and (y) the Business Day on
which the closing of the purchase of the Put Shares subject to the Put Option Exercise Notice shall occur (the &ldquo;<U>Put Option
Closing</U>&rdquo;); provided, however, that the Put Option Closing shall occur at least five (5) Business Days following the Put
Option Exercise Deadline and no later than ninety (90) Business Days following the Put Option Exercise Deadline.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Adjusted
Put Shares</U>. In the event that the Company does not have sufficient Legally Available Cash (as defined below) to satisfy all
of its put right obligations in this Agreement and the Other Securities Purchase Agreements, the Put Right for an Investor shall
be limited to a number of Put Shares (&ldquo;<U>Adjusted Put Shares</U>&rdquo;) equal to the following (rounded to the nearest
whole number):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">APS = [(X * [(A*Y)/((A*Y)+(B*Z)+(C*W))]]
/ Y</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">APS = Adjusted Put Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">X = Legally Available Cash</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: left">A = total number of Put Shares that an Investor elects to
have repurchased pursuant to such Investor&rsquo;s Put Right in connection with the relevant Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">B = total number of put shares that 2013 Investors elect
to have repurchased pursuant to such investors&rsquo; put rights in the Amended and Restated 2013 Purchase Agreement in connection
with the relevant Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: left">C = total number of put shares that 2015 Investors elect
to have repurchased pursuant to such investors&rsquo; put rights in the 2015 Purchase Agreement in connection with the relevant
Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Y = Per Share Price</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Z = Per Share Price (as defined in the Amended and Restated
2013 Purchase Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">W = Per Share Price (as defined in the 2015 Purchase Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&ldquo;<U>Legally Available Cash</U>&rdquo;
means the maximum of amount of cash that the Company is legally permitted (as determined by an opinion of counsel) to spend on
the repurchase of shares of Common Stock from the Investors, the 2013 Investors and/or the 2015 Investors, whether or not such
maximum amount of cash is then actually available to the Company.&nbsp; If there are no legal restrictions on the repurchase of
Common Stock held by the Investors, the 2013 Investors and/or the 2015 Investors, then &ldquo;Legally Available Cash&rdquo; shall
be deemed to be in excess of the amount necessary to satisfy all of the Company&rsquo;s put right obligations under this Agreement
and the Other Securities Purchase Agreements, and as such this clause (b) shall not apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Put Right shall terminate for all Investors if one of the following events (each a <U>&ldquo;Put Option Termination Event&rdquo;)</U>
has occurred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
daily VWAP of the Common Stock is greater than or equal to two hundred and fifty percent (250%) of the Per Share Price for any
consecutive forty trading-day period (the <U>&ldquo;Measurement Period&rdquo;)</U> and (y) the daily volume traded in Common Stock
has averaged at least 250,000 shares during such Measurement Period, provided that such daily volume shall be adjusted proportionately
to account for any stock splits or reverse stock splits of the Common Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)
the Company completes a public offering of its Common Stock with gross proceeds of at least fifteen million dollars ($15,000,000)
at a price per share that equals or exceeds two hundred and fifty percent (250%) of the Per Share Price and (y) the Shares held
by the Investors at such time are registered on an effective registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
sale by one of the Investors of twenty-five percent (25%) of the Share held by such investor, <I>provided, however, </I>that a
sale by such Investor will only affect such Investor and will not affect the Put Right of any other Investor; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;both
Battery (or, if the Put Option has terminated as to Battery but not as to HHG, HHG) and the Company consent in writing to terminate
the Put Right as set forth in this Section 1.02.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Put
Option Closing.</U> Upon the terms and subject to the satisfaction or waiver of the conditions set forth herein, the Company shall
purchase from each Investor delivering a Put Option Exercise Notice, severally, but not jointly, at the Put Option Closing, the
number of Put Shares to be purchased from such Investor in accordance with Section 1.2(a). Each Put Option Closing shall occur
at 10:00 a.m., New York City time, on the date specified in the Put Option Exercise Notice (or such later date as is mutually agreed
to by the Company and each Investor) after notification of satisfaction (or waiver) of the conditions to such Closing set forth
in Section 6 below at the offices of Gunderson Dettmer Stough Villeneuve Franklin &amp; Hachigian LLP, 850 Winter Street, Waltham,
MA 02451 or such other place as the Company and the affected Investor may agree. The date on which any such Closing occurs is hereinafter
referred to herein as the <U>&ldquo;Put Option Closing Date.&rdquo;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intentionally
Omitted</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Definitions.</U> When used herein, the following terms shall have the respective meanings indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><U>&ldquo;Adjusted
Put Shares&rdquo;</U> shall have the meaning set forth in Section 1.2(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><U>&ldquo;Affiliate&rdquo;</U>
means, as to any Person (the <U>&ldquo;subject Person&rdquo;),</U> any other Person (a) that directly or indirectly through one
or more intermediaries controls or is controlled by, or is under direct or indirect common control with, the subject Person, (b)
that directly or indirectly beneficially owns or holds ten percent (10%) or more of any class of voting equity of the subject Person,
or (c) ten percent (10%) or more of the voting equity of which is directly or indirectly beneficially owned or held by the subject
Person. For the purposes of this definition, <U>&ldquo;control&rdquo;</U> when used with respect to any Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
through representation on such Person&rsquo;s board of directors or other management committee or group, by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Amended and Restated
2013 Purchase Agreement</U>&rdquo; means the Amended and Restated 2013 Securities Purchase Agreement between the Company and certain
investors dated the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&ldquo;<U>Amended
Charter&rdquo;</U> means the amendment and restatement of the Company&rsquo;s Certificate of Incorporation approved by the Board
of Directors as of February 18, 2011 and by the shareholders of the Company by written consent of a majority of the issued and
outstanding Shares as of February 18, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Battery Member&rdquo;</U>
has the meaning specified in Section 4.3 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Board of Directors&rdquo;</U>
means the Company&rsquo;s board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Business&rdquo;</U>
means the consolidated business, properties, assets, operations, results of operations or financial condition of the Company and
its Subsidiaries taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Business Day&rdquo;</U>
means any day other than a Saturday, a Sunday or a day on which the New York Stock Exchange is closed or on which banks in the
City of New York are required or authorized by law to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Change of Control&rdquo;</U>
means the occurrence of any one or more of the following events: (i) the sale or other disposition to an unrelated party of all
or substantially all of the assets of the Company, in one transaction or a series of transactions (other than financing arrangements);
or (ii) a merger, consolidation or share exchange involving the Company and any other person or entity (other than for the purposes
of reincorporation), in which the Company or one of its subsidiaries is not the surviving entity, after approval of the Board of
Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Closing&rdquo;</U>
shall mean the Initial Closing, Additional Closing or Put Option Closing, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Closing Date&rdquo;</U>
shall mean the Initial Closing Date, Additional Closing Date or Put Option Closing Date, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Commission&rdquo;</U> means the Securities and
Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Common Stock&rdquo;</U> has the meaning specified
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Debt&rdquo;</U>
means, as to any Person at any time: (a) all indebtedness, liabilities and obligations of such Person for borrowed money; (b) all
indebtedness, liabilities and obligations of such Person to pay the deferred purchase price of Property or services (except trade
accounts payable, accrued compensation, accrued expenses, and unearned revenue and customer deposits of such Person that, in any
such case, arise in the ordinary course of business and are not more than sixty (60) days past due); (c) all capital lease obligations
of such Person; (d) all indebtedness, liabilities and obligations of others guaranteed by such Person; (e) all indebtedness, liabilities
and obligations secured by a Lien existing on Property owned by such Person, whether or not the indebtedness, liabilities or obligations
secured thereby have been assumed by such Person or are non-recourse to such Person; (f) all reimbursement obligations of such
Person (whether contingent or otherwise) in respect of letters of credit, bankers&rsquo; acceptances, surety or other bonds and
similar instruments; and (g) all indebtedness, liabilities and obligations of such Person to redeem or retire shares of capital
stock of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Disclosure Documents&rdquo;</U>
means all SEC Documents filed by the Company at least two (2) Business Days prior to the date of this Agreement via the Commission&rsquo;s
Electronic Data Gathering, Analysis and Retrieval system (EDGAR) in accordance with the requirements of Regulation S-T under the
Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><U>&ldquo;Effective Date&rdquo;</U>
has the meaning set forth in the Registration Rights Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Environmental Law&rdquo;</U>
means any federal, state, provincial, local or foreign law, statute, code or ordinance, principle of common law, rule or regulation,
as well as any Permit, order, decree, judgment or injunction issued, promulgated, approved or entered thereunder, relating to pollution
or the protection, cleanup or restoration of the environment or natural resources, or to the public health or safety, or otherwise
governing the generation, use, handling, collection, treatment, storage, transportation, recovery, recycling, discharge or disposal
of hazardous materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;ERISA&rdquo;</U>
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Exchange Act&rdquo;</U>
means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Execution Date&rdquo;</U>
means the date of the Original 2011 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Filed Registration
Statement Effective Date&rdquo;</U> means the date on which the Company&rsquo;s registration statement on either Form S-1 or Form
S-3 is declared effective by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;FINRA&rdquo;</U> means Financial Industry Regulatory
Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;GAAP&rdquo;</U>
means generally accepted accounting principles, applied on a consistent basis, as set forth in (i) opinions of the Accounting Principles
Board of the American Institute of Certified Public Accountants, (ii) statements of the Financial Accounting Standards Board and
(iii) interpretations of the Commission and the staff of the Commission. Accounting principles are applied on a &ldquo;consistent
basis&rdquo; when the accounting principles applied in a current period are comparable in all material respects to those accounting
principles applied in a preceding period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Governmental Authority&rdquo;</U>
means any nation or government, any state, provincial or political subdivision thereof and any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to government, including without limitation any stock exchange,
securities market or self-regulatory organization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Governmental Requirement&rdquo;</U>
means any law, statute, code, ordinance, order, rule, regulation, judgment, decree, injunction, franchise, license or other directive
or requirement of any federal, state, county, municipal, parish, provincial or other Governmental Authority or any department,
commission, board, court, agency or any other instrumentality of any of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Intellectual Property&rdquo;</U>
means any U.S. or foreign patents, patent rights, patent applications, trademarks, trade names, service marks, brand names, logos
and other trade designations (including unregistered names and marks), trademark and service mark registrations and applications,
copyrights and copyright registrations and applications, inventions, invention disclosures, protected formulae, formulations, processes,
methods, trade secrets, computer software, computer programs and source codes, manufacturing research and similar technical information,
engineering know-how, customer and supplier information, assembly and test data drawings or royalty rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Legally Available
Cash</U>&rdquo; shall have the meaning set forth in <U>Section 1.2(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Lien</U>&rdquo;
means, with respect to any Property, any mortgage, pledge, hypothecation, assignment, deposit arrangement, security interest, tax
lien, financing statement, pledge, charge, or other lien, charge, easement, encumbrance, preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such Property (including, without
limitation, any conditional sale or other title retention agreement having substantially the same economic effect as any of the
foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Material Adverse
Effect&rdquo;</U> means an effect that is material and adverse to (i) the Business, (ii) the ability of the Company to perform
its obligations under this Agreement or the other Transaction Documents (as defined below) or (iii) the rights and benefits to
which an Investor is entitled under this Agreement and the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Material Contracts&rdquo;</U>
means, as to the Company, any agreement required pursuant to Item 601 of Regulation S-B or Item 601 of Regulation S-K, as applicable,
promulgated under the Securities Act to be filed as an exhibit to any report, schedule, registration statement or definitive proxy
statement filed or required to be filed by the Company with the Commission under the Exchange Act or any rule or regulation promulgated
thereunder, and any and all amendments, modifications, supplements, renewals or restatements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Measurement Period&rdquo;</U> has the meaning
specified in Section 1.2(b) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;New Securities&rdquo;</U>
shall mean, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or
warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable
into or exercisable for such equity securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Option&rdquo;</U>
shall mean rights, options or warrants to subscribe for, purchase or otherwise acquire Common Stock or Convertible Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Original 2011 Securities
Purchase Agreement</U>&rdquo; has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;OTCBB&rdquo;</U> has the meaning specified in
Section 3.22 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Other Securities
Purchase Agreements</U>&rdquo; means, each and jointly, the Amended and Restated 2013 Purchase Agreement and the 2015 Purchase
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Pension Plan&rdquo;</U>
means an employee benefit plan (as defined in ERISA) maintained by the Company for employees of the Company or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Permitted Liens&rdquo;</U> means the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;encumbrances
consisting of easements, rights-of-way, zoning restrictions or other restrictions on the use of Real Property or imperfections
to title that do not (individually or in the aggregate) materially impair the ability of the Company to use such Property in its
businesses, and none of which is violated in any material respect by existing or proposed structures or land use;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
for taxes, assessments or other governmental charges (including without limitation in connection with workers&rsquo; compensation
and unemployment insurance) that are not delinquent or which are being contested in good faith by appropriate proceedings, which
proceedings have the effect of preventing the forfeiture or sale of the Property subject to such Liens, and for which adequate
reserves (as determined in accordance with GAAP) have been established; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
of mechanics, materialmen, warehousemen, carriers, landlords or other similar statutory Liens securing obligations that are not
yet due and are incurred in the ordinary course of business or which are being contested in good faith by appropriate proceedings,
which proceedings have the effect of preventing the forfeiture or sale of the Property subject to such Liens, for which adequate
reserves (as determined in accordance with GAAP) have been established.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Per Share Price&rdquo;</U>
shall mean $0.75 per Share, as adjusted for any dividend, stock split, reverse stock split, split-up or other distribution on shares
of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Person&rdquo;</U>
means any individual, corporation, trust, association, company, partnership, joint venture, limited liability company, joint stock
company, Governmental Authority or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Principal Market&rdquo;</U>
means the principal exchange or market on which the Common Stock is listed or traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Property&rdquo;</U>
means property and/or assets of all kinds, whether real, personal or mixed, tangible or intangible (including, without limitation,
all rights relating thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Pro Rata Share&rdquo;</U>
means, with respect to an Investor, the ratio determined by dividing (i) the number of Shares purchased hereunder by such Investor
by (ii) the aggregate number of Shares purchased hereunder by all of the Investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Purchase Price&rdquo;</U>
means, with respect to an Investor, the number of Shares purchased by such Investor at the Closing <U>times</U> the Per Share Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Put Option Closing&rdquo;</U> has the meaning
specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Put Option Closing Date&rdquo;</U> has the meaning
specified in Section 1.2(c) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Exercise
Notice&rdquo;</U> has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Exercise
Deadline&rdquo;</U> has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Termination
Event&rdquo;</U> has the meaning specified in Section 1.2(c) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Trigger
Event&rdquo;</U> shall mean the occurrence of any of the following events: (i) any Change of Control of the Company, or (ii) the
sale or exclusive license of substantially all of the Company&rsquo;s assets, or similar transaction, involving all or substantially
all of the Company&rsquo;s assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Put Right&rdquo;</U> has the meaning specified
in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Shares</U>&rdquo;
has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Real Property&rdquo;</U>
has the meaning specified in Section 3.22 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Registrable Securities&rdquo;</U>
has the meaning set forth for &ldquo;2011 Registrable Securities&rdquo; in the Registration Rights Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Registration Rights
Agreement</U>&rdquo; means the 2015 Amended and Restated Registration Rights Agreement dated as of the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Rule 144&rdquo;
means Rule 144 under the Securities Act or any successor</U> provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;SEC Documents&rdquo;</U> has the meaning specified
in Section 3.4 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><U>&ldquo;Securities&rdquo;</U> has the meaning specified
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsequent Financing&rdquo;</U>
means any planned issuance by the Company or any of its Subsidiaries of Common Stock, common stock equivalents, indebtedness or
a combination of units thereof for cash consideration, except for public offerings of Common Stock or other securities of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsequent Financing
Share&rdquo;</U> means a fraction, the numerator of which is the number of Shares purchased by such Investor pursuant to this Agreement
held by such Investor on the date of a Pre-Notice (as defined in Section 4.4(a)), and the denominator of which is the total number
of Shares issued to all Investors pursuant to the terms of this Agreement outstanding on the date of such Pre-Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsidiary&rdquo;</U>
means, with respect to the Company, any corporation or other entity (other than an entity having no material operations or business
during the twelve month period immediately preceding the Execution Date) of which at least a majority of the outstanding shares
of stock or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors
(or Persons performing similar functions) of such corporation or entity (regardless of whether or not at the time, in the case
of a corporation, stock of any other class or classes of such corporation shall have or might have voting power by reason of the
happening of any contingency) is at the time directly or indirectly owned or controlled by the Company or one or more of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Termination Date&rdquo;</U>
means the first date on which there are no Warrants outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><U>&ldquo;Trading
Day&rdquo;</U> means any day on which the Common Stock may be purchased and sold on the Principal Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><U>&ldquo;Transaction
Documents&rdquo;</U> means, collectively, this Agreement, the Registration Rights Agreement, the Warrants, and all other agreements,
documents and other instruments executed and delivered by or on behalf of the Company or any of its officers at the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&ldquo;<U>2013
Investors</U>&rdquo; means collectively, the several investors party to the 2013 Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&ldquo;<U>2013
Purchase Agreement</U>&rdquo; means the Securities Purchase Agreement between the Company and certain investors dated January 28,
2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&ldquo;<U>2015
Investors</U>&rdquo; means collectively, the several investors party to the 2015 Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>2015 Purchase Agreement</U>&rdquo;
means the Securities Purchase Agreement between the Company and certain investors dated the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><U>&ldquo;VWAP&rdquo;</U>
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 stock exchange, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the stock exchange 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) the volume weighted average price of the Common
Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or quoted
for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the &ldquo;Pink Sheets&rdquo; published
by Pink OTC Markets, 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 Investors of a majority in interest of the Shares then
outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Definitional Provisions.</U> All definitions contained in this Agreement are equally applicable to the singular and plural forms
of the terms defined. The words &ldquo;hereof&rsquo;, &ldquo;herein&rdquo; and &ldquo;hereunder&rdquo; and words of similar import
referring to this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties of Each Investor.</U> Each Investor (with respect to itself only) hereby represents and warrants to the Company
and agrees with the Company that, as of the Execution Date and as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Enforceability.</U> Such Investor is duly and validly organized, validly existing and in good standing under the laws of the jurisdiction
of its incorporation or organization as set forth below such Investor&rsquo;s name on the signature page hereof with the requisite
corporate power and authority to purchase the Shares and Warrant to be purchased by it hereunder and to execute and deliver this
Agreement and the other Transaction Documents to which it is a party. This Agreement constitutes, and upon execution and delivery
thereof, each other Transaction Document to which such Investor is a party will constitute, such Investor&rsquo;s valid and legally
binding obligation, enforceable in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, fraudulent transfer,
reorganization, moratorium or other similar laws of general application relating to or affecting the enforcement of creditors&rsquo;
rights generally and (ii) general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accredited
Investor.</U> Such Investor (i) is an &ldquo;accredited investor&rdquo; as that term is defined in Rule 501 of Regulation D, (ii)
is acquiring the Securities in the ordinary course of its business, solely for its own account, and not with a view to the public
resale or distribution of all or any part thereof, except pursuant to sales that are registered under the Securities Act or are
exempt from the registration requirements of, the Securities Act and does not have any agreement or understanding with any person
to distribute any of the Securities; <I>provided, however, </I>that, in making such representation, such Investor does not agree
to hold the Securities for any minimum or specific term and reserves the right to sell, transfer or otherwise dispose of the Securities
at any time in accordance with the provisions of this Agreement and with Federal and state securities laws applicable to such sale,
transfer or disposition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Information.</U>
The Company has, prior to the Execution Date, provided such Investor with information regarding the business, operations and financial
condition of the Company and has, prior to the Execution Date, granted to such Investor the opportunity to ask questions of and
receive satisfactory answers from representatives of the Company, its officers, directors, employees and agents concerning the
Company and materials relating to the terms and conditions of the purchase and sale of the Securities hereunder, as such Investor
deems relevant in making an informed decision with respect to its investment in the Securities. Such Investor is able to bear the
economic risk of an investment in the Securities and, at the present time, is able to afford a complete loss of such investment.
Neither such information nor any other investigation conducted by such Investor or any of its representatives shall modify, amend
or otherwise affect such Investor&rsquo;s right to rely on the Company&rsquo;s representations and warranties contained in this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Disposition.</U> Such Investor acknowledges that, except as provided in the Registration Rights Agreement, the Securities have
not been and are not being registered under the Securities Act and may not be transferred or resold without registration under
the Securities Act or unless pursuant to an exemption therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legend.</U>
Such Investor understands that the certificates representing the Securities may bear at issuance a restrictive legend in substantially
the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;The
securities represented by this certificate have not been registered under the Securities Act of 1933, as amended (the <U>&ldquo;Securities
Act&rdquo;),</U> or the securities laws of any state, and may not be offered, transferred, pledged, hypothecated, sold or otherwise
disposed of unless a registration statement under the Securities Act and applicable state securities laws shall have become effective
with regard thereto, or an exemption from registration under the Securities Act and applicable state securities laws is available
in connection with such offer or sale.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance
on Exemptions.</U> Such Investor understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of U.S. federal and state securities laws and that the Company is relying upon the truth and
accuracy of the representations and warranties of such Investor set forth in this Section 2 in order to determine the availability
of such exemptions and the eligibility of such Investor to acquire the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Affiliate
Status; Common Stock Ownership.</U> Other than Battery, such Investor is not an Affiliate of the Company or of any other Investor
and is not acting in association or concert with any other Person in regard to its purchase of the Securities or otherwise in respect
of the Company. Such Investor&rsquo;s investment in the Securities is not for the purpose of acquiring, directly or indirectly,
control of, and it has no intent to acquire or exercise control of, the Company or to influence the decisions or policies of the
Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties of the Company.</U> The Company hereby represents and warrants to each Investor that, except as expressly set forth
on the disclosure schedules to this Agreement, as of the Execution Date and as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Good Standing and Qualification.</U> The Company and each of its Subsidiaries is an entity duly organized, validly existing and
in good standing under the laws of the jurisdiction under which it is incorporated, and has all requisite corporate power and authority
to conduct its business as currently conducted and to execute, deliver and perform all of its obligations under this Agreement
and to consummate the transactions contemplated hereby. The Company and each of its subsidiaries is qualified to do business as
a foreign corporation in each jurisdiction where failure to be so qualified could, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Consents.</U> The Company has the requisite corporate power and authority to enter into and perform its obligations under the Transaction
Documents, including, without limitation, its obligations to issue and sell the Securities to the Investors in accordance with
the terms hereof and thereof, and to issue the Warrant Shares upon exercise of the Warrants. All corporate action on the part of
the Company by its officers, directors and stockholders necessary for the authorization, execution and delivery of, and the performance
by the Company of its obligations under, the Transaction Documents has been taken, and no further consent or authorization of the
Company, its Board of Directors, stockholders, any Governmental Authority or organization (other than such approval as may be required
under the Securities Act and applicable state securities laws in respect of the Registration Rights Agreement), or any other person
or entity is required (pursuant to any rule of FINRA or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Execution; Enforceability.</U> This Agreement has been and, at or prior to the Closing, each other Transaction Document to be delivered
at the Closing will be, duly executed and delivered by the Company. This Agreement constitutes and, upon the execution and delivery
thereof by the Company, each other Transaction Document will constitute the valid and legally binding obligation of the Company,
enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, fraudulent transfer, moratorium,
reorganization or other similar laws of general application relating to or affecting the enforcement of creditors&rsquo; rights
generally and (ii) general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
Documents; Agreements; Financial Statements; Other Information.</U> The Company is subject to the reporting requirements of the
Exchange Act and has filed with the Commission all reports, schedules, registration statements and definitive proxy statements
that the Company was required to file with the Commission during the preceding twelve calendar months (collectively, the <U>&ldquo;SEC
Documents&rdquo;).</U> The Company is not aware of any event occurring or expected to occur on or prior to the Closing Date (other
than the transactions effected hereby and quarterly releases of financial results) that would require the filing of, or with respect
to which the Company intends to file, a Form 8-K after the Closing. Each SEC Document, as of the date of the filing thereof with
the Commission (or if amended or superseded by a filing prior to the Execution Date, then on the date of such amending or superseding
filing), complied in all material respects with the requirements of the Securities Act or Exchange Act, as applicable, and the
rules and regulations promulgated thereunder and, as of the date of such filing (or if amended or superseded by a filing prior
to the Execution Date, then on the date of such filing), such SEC Document (including all exhibits and schedules thereto and documents
incorporated by reference therein) did not contain an untrue statement of material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading. All documents required to be filed as exhibits to the SEC Documents have been filed as required. Except as set forth
in the Disclosure Documents, the Company has no liabilities, contingent or otherwise, other than liabilities incurred in the ordinary
course of business which, under GAAP, are not required to be reflected in the financial statements included in the Disclosure Documents
and which, individually or in the aggregate, are not material to the business or financial condition of the Company. As of their
respective dates, the financial statements of the Company included in the SEC Documents have been prepared in accordance with GAAP
(except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim
statements, to the extent they may exclude footnotes or may be condensed or summary statements) and fairly present in all material
respects the financial position of the Company as of the dates thereof and the results of its operations and cash flows for the
periods then ended (subject, in the case of unaudited statements, to normal year-end adjustments).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalization;
Debt Schedule.</U> The capitalization of the Company as of the date hereof, including its authorized capital stock, the number
of shares issued and outstanding, the number of shares issuable and reserved for issuance pursuant to the Company&rsquo;s stock
option plans and agreements, the number of shares issuable and reserved for issuance pursuant to securities (other than the Warrants)
exercisable for, or convertible into or exchangeable for any shares of Common Stock and the number of shares initially to be reserved
for issuance upon exercise of the Warrants, is set forth on Schedule 3.5 hereto. All issued and outstanding shares of capital stock
of the Company have been, or upon issuance will be, validly issued, fully paid and non-assessable. No shares of the capital stock
of the Company were issued in violation of preemptive rights or any other similar rights of security holders of the Company or
any Liens created by or through the Company. Except as disclosed on Schedule 3.5 or as contemplated herein, there are no outstanding
preemptive rights, rights of first refusal, shareholder rights, options, warrants, scrip, rights to subscribe to, calls or commitments
of any character whatsoever relating to, or securities or rights convertible into or exercisable or exchangeable for, any shares
of capital stock of the Company, or arrangements by which the Company is or may become (as a result of the transactions contemplated
hereby or the other Transaction Documents or otherwise) bound to issue additional shares of capital stock of the Company (whether
pursuant to anti-dilution, &ldquo;reset&rdquo; or other similar provisions). Except as described on Schedule 3.5 hereto, the Company
has no material Debt outstanding as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Authorization; Valid Issuance.</U> The Shares and Warrants are duly authorized and, when issued, sold and delivered in accordance
with the terms hereof, (i) the Shares and Warrants will be duly and validly issued, and the Shares will be fully paid and nonassessable;
in each case, free and clear of any Liens imposed by or through the Company, and (ii) assuming the accuracy of each Investor&rsquo;s
representations in this Agreement, the Shares and Warrants will be issued, sold and delivered in compliance with all applicable
Federal and state securities laws. The Warrant Shares are duly authorized and reserved for issuance and, when issued in accordance
with the terms of the Warrants, will be duly and validly issued, fully paid and nonassessable, free and clear of any Liens imposed
by or through the Company and, assuming the accuracy of each Investor&rsquo;s representations in this Agreement at the time of
exercise, will be issued, sold and delivered in compliance with all applicable Federal and state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Conflict with Other Instruments.</U> The Company is not in violation of any provisions of its charter, bylaws or any other governing
document or in default (and no event has occurred which, with notice or lapse of time or both, would constitute a default) under
any provision of any instrument or contract to which it is a party or by which it or any of its Property is bound, or in violation
of any provision of any Governmental Requirement applicable to it, except for any violation or default under any such instrument
or contract or any violation of any provision of a Governmental Requirement that, in either such case, has not had or would not
reasonably be expected to have a Material Adverse Effect (any such violation or default being referred to herein as a <U>&ldquo;Current
Violation&rdquo;).</U> Provided that the Amended Charter is duly filed with the Secretary of State of Delaware, the (i) execution,
delivery and performance of this Agreement and the other Transaction Documents, and (ii) consummation of the transactions contemplated
hereby and thereby (including without limitation, the issuance of the Shares and the Warrants and the reservation for issuance
and issuance of the Warrant Shares) will not result in any violation of any provisions of the Company&rsquo;s charter, Bylaws or
any other governing document or in a default under any provision of any instrument or contract to which it is a party or by which
it or any of its Property is bound, or in violation of any provision of any Governmental Requirement applicable to the Company
or be in conflict with or constitute, with or without the passage of time and giving of notice, either a default under any such
provision, instrument or contract or an event which results in the creation of any Lien upon any assets of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">3.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial
Condition; Taxes; Litigation.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&rsquo;s financial condition is, in all material respects, as described in the Disclosure Documents, except for changes
in the ordinary course of business and normal year-end adjustments that are not, in the aggregate, materially adverse to the business
or financial condition of the Company. There has been no (i) material adverse change to the Company&rsquo;s business, operations,
properties, financial condition, or results of operations since the date of the Company&rsquo;s most recent audited financial statements
contained in the Disclosure Documents or (ii) change by the Company in its accounting principles, policies and methods except as
required by changes in GAAP or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company (i) has prepared in good faith and duly and timely filed all tax returns required to be filed by it and such returns are
complete and accurate in all </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">material
respects and (ii) has paid all taxes required to have been paid by it, except for taxes which it reasonably disputes in good faith
or the failure of which to pay has not had or would not reasonably be expected to have a Material Adverse Effect, and has no liability
with respect to accrued taxes in excess of the amounts that are described as accrued in the most recent financial statements included
in the Disclosure Documents.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in Schedule 3.8(c), the Company is not the subject of any pending or, to the Company&rsquo;s knowledge, threatened
inquiry, investigation or administrative or legal proceeding by the Internal Revenue Service, the taxing authorities of any state
or local jurisdiction (other than with respect to taxes which it reasonably disputes in good faith or the failure of which to pay
has not had or would not reasonably be expected to have a Material Adverse Effect), the Commission, FINRA, any state securities
commission or other Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in Schedule 3.8(d), there is no material claim, litigation or administrative proceeding pending or, to the Company&rsquo;s
knowledge, threatened or contemplated, against the Company or, to the Company&rsquo;s knowledge, against any officer, director
or employee of the Company in connection with such person&rsquo;s employment therewith. The Company is not a party to or subject
to the provisions of, any order, writ, injunction, judgment or decree of any court or Governmental Authority which has had or would
reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acknowledgement
of Dilution.</U> The Company acknowledges that the issuance of Warrant Shares upon exercise of the Warrants may result in dilution
of the outstanding shares of Common Stock, which dilution may be substantial under certain market conditions. The Company further
acknowledges that its obligation to issue Warrant Shares upon exercise of the Warrants in accordance with the terms of the Warrants,
is unconditional (other than with respect to the conditions set forth in the Warrants) regardless of the effect of any such dilution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: left; text-indent: 0in">3.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual
Property.</U> Except as set forth in Schedule 3.10:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company owns, free and clear of claims or rights or any other Person, with full right to use, sell, license, sublicense, dispose
of, and bring actions for infringement of, or, to the knowledge of the Company, has acquired licenses or other rights to use, all
Intellectual Property necessary for the conduct of its business as presently conducted (other than with respect to software which
is generally commercially available and not used or incorporated into the Company&rsquo;s products and open source software which
may be subject to one or more &ldquo;general public&rdquo; licenses). All works that are used or incorporated into the Company&rsquo;s
services, products or services or products actively under development and which is proprietary to the Company was developed by
or for the Company by the current or former employees, consultants or independent contractors of the Company or its predecessors
in interest or purchased or licensed by the Company or its predecessors in interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in"><FONT STYLE="font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
business of the Company as presently conducted and the production, marketing, licensing, use and servicing of any products or services
of the Company do not, to the knowledge of the Company, infringe or conflict with any patent, trademark, </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">copyright, or trade secret rights of any third parties or any other Intellectual
Property of any third parties in any material respect. The Company has not received written notice from any third party asserting
that any Intellectual Property owned or licensed by the Company, or which the Company otherwise has the right to use, is invalid
or unenforceable by the Company and, to the Company&rsquo;s knowledge, there is no valid basis for any such claim (whether or not
pending or threatened).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
claim is pending or, to the Company&rsquo;s knowledge, threatened against the Company nor has the Company received any written
notice or other written claim from any Person asserting that any of the Company&rsquo;s present or contemplated activities infringe
or may infringe in any material respect any Intellectual Property of such Person and the Company is not aware of any infringement
by any other Person of any material rights of the Company under any Intellectual Property Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
licenses or other agreements under which the Company is granted Intellectual Property (excluding licenses to use software utilized
in the Company&rsquo;s internal operations and which is generally commercially available) are in full force and effect and, to
the Company&rsquo;s knowledge, there is no material default by any party thereto. The Company has no reason to believe that the
licensors under such licenses and other agreements do not have and did not have all requisite power and authority to grant the
rights to the Intellectual Property purported to be granted thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
licenses or other agreements under which the Company has granted rights to Intellectual Property to others (including all end-user
agreements) since January 1, 2008, are in full force and effect, unless otherwise terminated in accordance with the terms of such
licenses or arrangements, there has been no material default by the Company thereunder and, to the Company&rsquo;s knowledge, there
is no material default by any other party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has taken all steps required in accordance with commercially reasonable business practice to establish and preserve its
ownership in its owned Intellectual Property and to keep confidential all material technical information developed by or belonging
to the Company which has not been patented or copyrighted. The Company is not making any material unlawful use of any Intellectual
Property of any other Person, including, without limitation, any former employer of any past or present employees of the Company.
To the Company&rsquo;s knowledge, neither the Company nor any of its employees has any agreements or arrangements with former
employers of such employees relating to any Intellectual Property of such employers, which materially interfere or conflict with
the performance of such employee&rsquo;s duties for the Company or result in any former employers of such employees having any
rights in, or claims on, the Company&rsquo;s Intellectual Property. Each current and former employee of the Company has executed
agreements regarding confidentiality, proprietary information and assignment of inventions and copyrights to the Company, each
independent contractor or consultant of the Company has executed agreements regarding confidentiality and proprietary information,
and the Company has not received written notice that any employee, consultant or independent contractor is in violation of any
agreement or in breach of any agreement or arrangement with former or present employers relating to proprietary information or
assignment of inventions. Without limiting the foregoing: (i) the Company has taken reasonable security measures to guard against
unauthorized disclosure or use of any of its Intellectual Property; and the Company has no reason to believe that any Person (including,
without limitation, any former employee or consultant of the Company) has unauthorized possession of any of its Intellectual Property,
or any part thereof, or that any Person has obtained unauthorized access to any of its Intellectual Property. The Company is in
compliance in all material respects with its obligations pursuant to all agreements relating to Intellectual Property rights that
are the subject of licenses granted by third parties, except for any non-compliance that has not had or would not reasonably be
expected to have a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Rights; Rights of Participation.</U> Except as described on Schedule 3.11 hereto, the Company has not granted or agreed to grant
to any person or entity any rights (including &ldquo;piggy-back&rdquo; registration rights) to have any securities of the Company
registered with the Commission or any other governmental authority which has not been satisfied in full prior or waived to the
date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fees</U>.
Except as contemplated by Section 7.11 hereof and as set forth on Schedule 3.12 or disclosed in writing to the Investor by the
Company, the Company is not obligated to pay any compensation or other fee, cost or related expenditure to any underwriter, broker,
agent or other representative in connection with the transactions contemplated hereby. The Company will indemnify and hold harmless
each Investor from and against any claim by any person or entity alleging that, as a result of any agreement or arrangement between
such Person and the Company, such Investor is obligated to pay any such compensation, fee, cost or related expenditure in connection
with the transactions contemplated hereby or the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.13&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Solicitation;
Other Issuances of Securities.</U> Neither the Company nor any of its Subsidiaries or Affiliates, nor any person acting on its
or their behalf, (i) has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D)
in connection with the offer or sale of the Securities, or (ii) has, directly or indirectly, made any offers or sales of any security
or the right to purchase any security, or solicited any offers to buy any security or any such right, under circumstances that
would require registration of the Securities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.14&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Foreign
Corrupt Practices.</U> Neither the Company, nor to the Company&rsquo;s knowledge any director, officer, agent, employee or other
person acting on behalf of the Company, has (i) used any corporate funds for any unlawful contribution, gift, entertainment or
other unlawful expenses relating to political activity, (ii) made any direct or indirect unlawful payment to any foreign or domestic
government official or employee (including without limitation any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment), or (iii) violated any provision of the Foreign Corrupt Practices Act of 1977, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">3.15&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Key
Employees.</U> Each of the Company&rsquo;s executive officers (as defined in Rule 501(f) of the Securities Act) (each, a <U>&ldquo;Key
Employee&rdquo;)</U> is currently serving in the capacity described in the Disclosure Documents. The Company has no knowledge of
any fact or circumstance (including without limitation (i) the terms of any agreement to which such person is a party or any litigation
in which such person is or may become involved and (ii) any illness or medical condition that could reasonably be expected to result
in the disability or incapacity of such person) that would limit or prevent any such person from serving in such capacity on a
full-</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">time basis
in the foreseeable future, or of any intention on the part of any such person to limit or terminate his or her employment with
the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.16&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee
Matters.</U> There is no strike, labor dispute or union organization activities pending or, to the knowledge of the Company, threatened
between it and its employees. No employees of the Company belong to any union or collective bargaining unit. The Company has complied
in all material respects with all applicable federal and state equal opportunity and other laws related to employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.17&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Environment.</U>
To the Company&rsquo;s knowledge, the Company does not have any current liability under any Environmental Law, nor, to the knowledge
of the Company, do any factors exist that are reasonably likely to give rise to any such liability that, individually or in the
aggregate, has had or would reasonably be expected to have a Material Adverse Effect. To the Company&rsquo;s knowledge, the Company
has not violated any Environmental Law applicable to it now or previously in effect, other than such violations or infringements
that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.18&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ERISA.</U>
Except as described on Schedule 3.18, the Company does not maintain or contribute to, or have any obligation under, any Pension
Plan. The Company is in compliance in all material respects with the presently applicable provisions of ERISA and the United States
Internal Revenue Code of 1986, as amended, with respect to each Pension Plan except in any such case for any such matters that,
individually or in the aggregate, have not had, and would not reasonably be expected to have, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.19&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance.</U>
The Company maintains insurance in such amounts and covering such losses and risks as the Company believes to be reasonably prudent
in relation to the businesses in which the Company is engaged. No notice of cancellation has been received for any of such policies
and the Company reasonably believes that is in compliance with all of the terms and conditions thereof The Company has no reason
to believe that it will not be able to renew any existing insurance coverage as and when such coverage expires or to obtain similar
coverage from similar insurers as may be necessary to continue doing business as currently conducted without a significant increase
in cost, other than normal increases in the industry. Without limiting the generality of the foregoing, the Company maintains Director&rsquo;s
and Officer&rsquo;s insurance in an amount deemed to be reasonable and appropriate by the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.20&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Property.</U>
The Company does not own any real property. The Company has good and marketable title to all personal Property owned by it which,
in each such case free and clear of all Liens except for Permitted Liens and except for such Liens which, individually and together
with all other Liens (including without limitation Permitted Liens) do not have, and cannot reasonably be expected to have, a Material
Adverse Effect. Any Property held under lease by the Company is held by it under valid, subsisting and enforceable leases with
such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such Property by
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">3.21&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulatory
Permits.</U> The Company possesses all material certificates, authorizations and permits issued by the appropriate federal, state
or foreign regulatory authorities necessary to conduct its businesses other than where the failure to possess such certificates,
authorizations or permits, individually or in the aggregate, has not had and would not reasonably be expected to have a Material
Adverse Effect. The Company has not received any notice or otherwise become aware of any proceedings, inquiries or investigations
relating to the revocation or modification of any such certificate, authorization or permit.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.22&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exchange
Act Registration; Listing. Exchange Act Registration; Listing. </U>The Company files supplementary and periodic information, documents,
and reports pursuant to Section 15(d) of the Exchange Act. The Company&rsquo;s Common Stock is registered pursuant to Section 12(g)
of the Exchange Act and is traded over-the-counter and quoted on the over-the-counter Bulletin Board QB or QX Markets (collectively,
&ldquo;OTCBB&rdquo;). The Company has taken no action designed to, or which, to the knowledge of the Company, would reasonably
be expected to have the effect of, terminating the registration of the Common Stock under the Exchange Act or ceasing the trading
of the Common Stock or its quoting on the OTCBB</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.23&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Company Status.</U> The Company is not, and immediately after receipt of payment for the Shares and the Warrants issued under this
Agreement will not be, an <U>&ldquo;investment company&rdquo;</U> or an entity <U>&ldquo;controlled&rdquo;</U> by an <U>&ldquo;investment
company&rdquo;</U> within the meaning of the Investment Company Act of 1940, as amended (the <U>&ldquo;Investment Company </U>Act&rdquo;),<U>
</U>and shall conduct its business in a manner so that it will not become subject to the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.24&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
Taxes.</U> No stock transfer or other taxes (other than income taxes) are required to be paid in connection with the issuance and
sale of any of the Securities, other than such taxes for which the Company has established appropriate reserves and intends to
pay in full on or before the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.25&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sarbanes-Oxley
Act; Internal Controls and Procedures.</U> The Company is in material compliance with any and all applicable requirements of the
Sarbanes-Oxley Act of 2002 and any and all applicable rules and regulations promulgated by the SEC thereunder that are effective
as of the date hereof. The Company maintains internal accounting controls, policies and procedures, and such books and records
as are reasonably designed to provide reasonable assurance that (i) all transactions to which the Company is a party or by which
its properties are bound are effected by a duly authorized employee or agent of the Company, supervised by and acting within the
scope of the authority granted by the Company&rsquo;s senior management; (ii) the recorded accounting of the Company&rsquo;s consolidated
assets is compared with existing assets at regular intervals; and (iii) all transactions to which the Company is a party, or by
which its properties are bound, are recorded (and such records maintained) in accordance with all Governmental Requirements and
as may be necessary or appropriate to ensure that the financial statements of the Company are prepared in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">3.26&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Embargoed
Person.</U> None of the funds or other assets of the Company shall constitute property of, or shall be beneficially owned,
directly or indirectly, by any person subject to trade restrictions under United States law, including, but not limited to,
the International Emergency Economic Powers Act, 50 U.S.C. &sect; 1701 <I>et seq., </I>the Trading with the</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B> </B></FONT><FONT STYLE="font-size: 10pt">
Enemy Act, 50 U.S.C. App. 1 <I>et seq., </I>and any Executive Orders or regulations promulgated under any such United States
laws (each, an <U>&ldquo;Embargoed Person&rdquo;),</U> with the result that the investments evidenced by the Securities are
or would be in violation of law. No Embargoed Person shall have any interest of any nature whatsoever in the Company with the
result that the investments evidenced by the Securities are or would be in violation of law. None of the funds or other
assets of the Company shall be derived from any unlawful activity with the result that the investments evidenced by the
Securities are or would be in violation of law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">3.27&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Solvency.</U>
As of the Execution Date and as of the Closing Date, (i) the fair saleable value of the Company&rsquo;s assets exceeds the amount
that will be required to be paid on or in respect of the Company&rsquo;s existing Debt as such Debt matures or is otherwise payable;
(ii) the Company&rsquo;s assets do not constitute unreasonably small capital to carry on its business for the current fiscal year
as now conducted and as proposed to be conducted taking into account the current and projected capital requirements of the business
conducted by the Company and projected capital availability; and (iii) the current cash flow of the Company, together with the
proceeds the Company would receive upon liquidation of its assets, after taking into account all anticipated uses of such amounts,
would be sufficient to pay all Debt when such Debt is required to be paid. The Company has no knowledge of any facts or circumstances
which lead it to believe that it will be required to file for reorganization or liquidation under the bankruptcy or reorganization
laws of any jurisdiction, and has no present intention to so file.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">3.28&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
with Interested Persons.</U> Except as set forth in the Disclosure Documents, no officer, director or employee of the Company is
or has made any arrangements with the Company to become a party to any transaction with the Company (other than for services as
employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services
to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee
has a substantial interest or is an officer, director, trustee or partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.29&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Customers
and Suppliers.</U> Except as set forth in the Disclosure Documents, the relationships of the Company with its customers and suppliers
are maintained on commercially reasonable terms. To the Company&rsquo;s knowledge, no customer or supplier of the Company has any
plan or intention to terminate its agreement with the Company, which termination would reasonably be expected to have a Material
Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.95in">3.30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>FDA
Matters and Clinical Trials.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not received any notices or correspondence from any federal, state, local or foreign regulatory body that
regulates the types of matters subject to the jurisdiction of the U.S. Food and Drug Administration <U>(&ldquo;Health
Authorities&rdquo;) </U>which have not been resolved requiring or threatening the termination, suspension or modification of
any animal studies, preclinical tests or clinical trials conducted by or on behalf of the Company or in which the Company has
participated that are described in the Disclosure Documents or the results of which are referred to in the Disclosure
Documents. To the knowledge of the Company, the currently pending clinical trials, studies and other preclinical tests
conducted by or on behalf of the Company and that are described in the Disclosure</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B> </B></FONT><FONT STYLE="font-size: 10pt">
Documents or the results of which are referred to in the Disclosure Documents, are being conducted in accordance with
experimental protocols, procedures and controls generally used by qualified experts in the preclinical or clinical study of
new drugs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has no knowledge of any adverse event that has resulted from any of such studies, tests or trials that was not disclosed
as required to any Health Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">3.31&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Full
Disclosure.</U> The representations, warranties and written statements contained in this Agreement and the other Transaction Documents
and in the certificates, exhibits and schedules delivered to such Investor by the Company pursuant to this Agreement and the other
Transaction Documents and in connection with such Investor&rsquo;s due diligence investigation of the Company, do not contain any
untrue statement of a material fact, and do not omit to state a material fact required to be stated therein or necessary in order
to make such representations, warranties or statements not misleading in light of the circumstances under which they were made.
Neither the Company nor any Person acting on its behalf or at its direction has provided such Investor with material non-public
information. Following the filing of the Current Report on Form 8-K in accordance with Section 4.1(c) hereof, to the Company&rsquo;s
knowledge, such Investor will not possess any material non-public information concerning the Company. The Company acknowledges
that such Investor is relying on the representations, acknowledgments and agreements made by the Company in this Section 3.31 and
elsewhere in this Agreement in making trading and other decisions concerning the Company&rsquo;s securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">3.32&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Other Agreements.</U> The Company has not, directly or indirectly, entered into any agreement with or granted any right to any
Investor relating to the terms or conditions of the transactions contemplated by the Transaction Documents, except as expressly
set forth in the Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Covenants
of the Company and Each Investor.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.95in">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees with each Investor that the Company will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;file
a Form D with respect to the Securities issued at the Closing as and when required under Regulation D and provide a copy thereof
to such Investor promptly after such filing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;take
such action as the Company reasonably determines upon the advice of counsel is necessary to qualify the Shares and Warrants for
sale under applicable state or &ldquo;blue-sky&rdquo; laws or obtain an exemption therefrom, and shall promptly provide evidence
of any such action to such Investor at such Investor&rsquo;s request; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on
or prior to 5:00 p.m. (eastern time) on the fourth Business Day following the Execution Date, file with the Commission a Current
Report on Form 8-K disclosing the material terms of this Agreement and the other Transaction Documents and the transactions contemplated
hereby and thereby, including as exhibits this Agreement and the other Transaction Documents; <I>provided, however, </I>that each
Investor shall have a reasonable opportunity to review and comment on any such Form 8-K prior to the issuance or filing thereof.</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt"> Thereafter, the Company shall timely file any filings and notices required by
the Commission or applicable law with respect to the transactions contemplated hereby;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">maintain
its corporate existence in good standing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">maintain,
keep and preserve all of its Properties necessary in the proper conduct of its businesses in good repair, working order and condition
(ordinary wear and tear excepted) and make all necessary repairs, renewals and replacements and improvements thereto, except where
the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">pay
or discharge before becoming delinquent (a) all taxes, levies, assessments and governmental charges imposed on it or its income
or profits or any of its Property and (b) all lawful claims for labor, material and supplies, which, if unpaid, might become a
Lien upon any of its Property, except where the failure to do so would not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect; <I>provided, however, </I>that the Company shall not be required to pay or discharge any
tax, levy, assessment or governmental charge, or claim for labor, material or supplies, whose amount, applicability or validity
is being contested in good faith by appropriate proceedings being diligently pursued and for which appropriate reserves have been
established under GAAP;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">comply
with all Governmental Requirements applicable to the operation of its business, except for instances of noncompliance that would
not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">comply
with all agreements, documents and instruments binding on it or affecting its Properties or business, including, without limitation,
all Material Contracts, except for instances of noncompliance that would not reasonably be expected to have, individually or in
the aggregate, a Material Adverse Effect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">provide
each Investor with copies of all materials sent to its stockholders, in each such case at the same time as delivered to such stockholders;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">timely
file with the Commission all reports required to be filed pursuant to the Exchange Act and refrain from terminating its status
as an issuer required by the Exchange Act to file reports thereunder even if the Exchange Act or the rules or regulations thereunder
would permit such termination;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">until
the earlier of (A) Effective Date of the Registration Statement and (B) the date upon which all Investors are able to sell Shares
without volume or manner of sale limitations under Rule 144, take commercially reasonable steps to restrict each of the Company&rsquo;s
Chief Executive Officer, President and Chief Financial Officer (each, a <U>&ldquo;Specified Employee&rdquo;)</U> from selling shares
of Common Stock; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;use
commercially reasonable efforts to maintain adequate insurance coverage (including D&amp;O insurance) for the Company and each
Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Voting
Rights.</U> The Company agrees that it shall not approve of or give effect to any of the following actions without the written
consent of Battery, <I>provided, however, </I>that the Company shall not be required to seek the written consent of Battery in
the event that Battery has sold greater than or equal to twenty-five percent (25%) of the Shares it purchases on the Closing Date
<U>(&ldquo;Battery Threshold Amount&rdquo;):</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;alter
or change the rights, preferences or privileges of the Put Option;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;other
than the repurchase of up to 2,000,000 Shares from a Company director from time to time, , purchase, redeem or otherwise acquire
any of (i) the Company&rsquo;s equity securities (including warrants, options and other rights to acquire equity securities) or
(ii) the Securities, other than (A) a repurchase by the Company at the lower of cost or the fair market value pursuant to existing
agreements, (B) the purchase of capital stock from certain stockholders approved by the Investors, (C) pursuant to an exercise
of the Put Right or the put rights granted under the Other Securities Purchase Agreements or (D) the contemplated option exchange
disclosed in the disclosure schedules to the 2015 Purchase Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liquidate,
dissolve or wind-up the business and affairs of the Company or consent to any of the foregoing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;merge
or consolidate with another corporation or entity in which the holders of the Company&rsquo;s voting equity securities immediately
prior to the transaction own, directly or indirectly, fifty percent (50%) or less of the voting securities of the surviving corporation
unless (i) the consideration for the merger or consolidation is in the form of a cash offer or marketable securities that are registered,
saleable and listed on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock
Exchange (ii) the average daily trading volume of the Common Stock during the Measurement Period immediately preceding the closing
of such merger or consolidation is equal to or greater than $1,000,000 and (iii) the purchase price per share is equal to or greater
than two hundred fifty percent (250%) of the Per Share Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Board
Representation.</U> The Company shall be obligated to present one nominee nominated by Battery to become a member of the Company&rsquo;s
Board (the <U>&ldquo;Battery Member&rdquo;)</U> either through an action by written consent or through the vote of the Company&rsquo;s
stockholders at the next meeting of the Company&rsquo;s stockholders, which shall be held no later than three (3) months after
the date of this Agreement; <I>provided, however, </I>that the Company shall no longer be obligated to nominate the Battery Member
in the event that Battery has sold the Battery Threshold Amount.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Participation Rights.</U> Each Investor has declined to exercise such Investor&rsquo;s participation right set forth in the Original
2011 Securities Purchase Agreement with respect to either the transaction effected pursuant to the 2013 Purchase Agreement or the
Company&rsquo;s issuance of convertible promissory notes on December 1, 2014, and thus no longer has any participation right with
respect to either the transaction contemplated by the 2015 Purchase Agreement or future financings of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">4.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Common Stock.</U> The Company shall, on the Closing Date, have authorized and reserved for issuance to the Investors free from
any preemptive rights, and shall keep available at all times during which any Warrants are outstanding, a number of shares of Common
Stock (the <U>&ldquo;Reserved Amount&rdquo;)</U> that, on the Closing Date, is not less than one </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">hundred percent (100%) of the number of Warrant Shares issuable upon exercise of
all of the Warrants issued at the Closing, without regard to any limitation or restriction on such conversion or exercise that
may be set forth in the Warrants. The Reserved Amount shall be allocated in accordance with each Investor&rsquo;s Pro Rata Share.
In the event that an Investor shall sell or otherwise transfer any of such Investor&rsquo;s Warrants, each transferee shall be
allocated a <I>pro rata </I>portion of such transferor&rsquo;s Reserved Amount. Any portion of the Reserved Amount allocated to
any Investor or other Person which no longer holds any Warrants shall be reallocated to the remaining Investors <I>pro rata </I>based
on the number of Registrable Securities held by such Investors at such time. In the event that the Reserved Amount is insufficient
at any time to cover one hundred percent 100% of the Registrable Securities issuable upon the exercise of the Warrants (without
regard to any restriction on such conversion or exercise), the Company shall take such action (including without limitation holding
a meeting of its stockholders) to increase the Reserved Amount to cover 100% of the Registrable Securities issuable upon such conversion
and exercise, such increase to be effective not later than the thirtieth (30th) day (or sixtieth (60th) day, in the event stockholder
approval is required for such increase) following the Company&rsquo;s receipt of written notice of such deficiency. While any Warrants
are outstanding, the Company shall not reduce the Reserved Amount without obtaining the prior written consent of each Investor
then holding Warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Use
of Proceeds.</U> The Company shall use the proceeds from the sale of the Shares and Warrants for general business purposes; <I>provided,
</I>that the Company shall not use any of such proceeds (i) to pay any dividend or make any distribution on any of its securities,
or (ii) to repay any loan made to or incurred by any Key Employee or any other officer or director or Affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Use
of Investor Name.</U> Except as may be required by applicable law and/or this Agreement, the Company shall not use, directly or
indirectly, any Investor&rsquo;s name or the name of any of its Affiliates in any advertisement, announcement, press release or
other similar communication unless it has received the prior written consent of any Investor for the specific use contemplated
or as otherwise required by applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">4.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company&rsquo;s
Instructions to Transfer Agent.</U> . Certificates evidencing the Shares and Warrant Shares shall not contain any legend (i) while
a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities
Act, (ii) following any sale of such Shares or Warrant Shares pursuant to Rule 144, (iii) if such Shares or Warrant Shares are
eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information
required under Rule 144 as to such Shares and Warrant Shares and without volume or manner-of-sale restrictions, or (iv) if such
legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements
issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent promptly
after the Effective Date if required by the Transfer Agent to effect the removal of the legend hereunder. If all or any portion
of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the Warrant Shares,
or if such Shares or Warrant Shares may be sold under Rule 144 and the Company is then in compliance with the current public information
required under Rule 144, or if the Shares or Warrant Shares may be sold under Rule 144 without the requirement for the Company
to be in compliance with the </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">current
public information required under Rule 144 as to such Shares or Warrant Shares or if such legend is not otherwise required under
applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the
Commission) then such Warrant Shares shall be issued free of all legends. The Company agrees that following the Effective Date
or at such time as such legend is no longer required under this Section 4.8, it will, no later than three Trading Days following
the delivery by a Purchaser to the Company or the Transfer Agent of a certificate representing Shares or Warrant Shares, as the
case may be, issued with a restrictive legend (such third Trading Day, the <U>&ldquo;Legend Removal Date&rdquo;),</U> deliver or
cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends.
The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on
transfer set forth in this Section 4.8. Certificates for Securities subject to legend removal hereunder shall be transmitted by
the Transfer Agent to the Purchaser by crediting the account of the Purchaser&rsquo;s prime broker with the Depository Trust Company
System as directed by such Purchaser.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">4.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Disposition.</U> No Investor shall sell, transfer, assign or dispose of any Securities, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
is then in effect an effective registration statement under the Securities Act covering such proposed disposition and such disposition
is made in accordance with such registration statement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Investor has notified the Company in writing of any such disposition, and furnished the Company with an opinion of counsel, reasonably
satisfactory to the Company, that such disposition will not require registration of such Securities under the Securities Act; <I>provided,
however, </I>that no such opinion of counsel will be required (A) if the sale, transfer or assignment complies with federal and
state securities laws and is made to a fund or other institutional investor that is an Affiliate of such Investor and which is
also an &ldquo;accredited investor&rdquo; as that term is defined in Rule 501 of Regulation D; <I>provided, </I>that such Affiliate
provides the Company with customary accredited investor and investment representations (comparable with those set forth in Section
2.2 hereof), and agrees to be bound by the terms and conditions of this Agreement, (B) if the sale, transfer or assignment is made
pursuant to Rule 144 and such Investor provides the Company with evidence reasonably satisfactory to the Company that the proposed
transaction satisfies the requirements of Rule 144 or (C) in connection with a <I>bona fide </I>pledge or hypothecation of any
Securities under a margin arrangement with a broker-dealer or other financial institution or the sale of any such Securities by
such broker-dealer or other financial institution following such Investor&rsquo;s default under such margin arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
of Non-public Information.</U> The Company agrees that it will not at any time following the Execution Date disclose material non-public
information to any Investor without first obtaining such Investor&rsquo;s written consent to such disclosure, except to the extent
required by any Transaction Documents. For the avoidance of doubt, any information provided to the Battery Member in its capacity
as a member of the Board of Directors shall not be deemed a disclosure of information pursuant to this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">4.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Listing.</U>
Provided the Company is eligible for trading or listing, as the case may be, the Company (i) has, or promptly following the Closing
shall, use its best efforts to </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">include
all of the Warrant Shares issuable upon exercise of the Warrants (without regard to any limitation on such exercise) for trading
on the OTCBB, and (ii) shall use its best efforts to attain designation and quotation, or listing, of the Common Stock and Warrant
Shares on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange for
a minimum of five (5) years following the Closing Date or, in the event the Company is unable to attain such designation and quotation
or listing on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange,
to maintain the trading of the Common Stock on the OTCBB or any successor inter-dealer trading system for a minimum of five (5)
years following the Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">4.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of Investors.</U> The Company will indemnify and hold each Investor and its directors, managers, officers, shareholders, members,
partners, employees and agents (each, an <U>&ldquo;Investor Party&rdquo;)</U> harmless from any and all losses, liabilities, obligations,
claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable
attorneys&rsquo; fees and costs of investigation that any such Investor Party may suffer or incur as a result of or relating to
(a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the
other Transaction Documents or (b) any action instituted against an Investor, or any of them or their respective Affiliates, by
any stockholder of the Company who is not an Affiliate of such Investor, with respect to any of the transactions contemplated by
the Transaction Documents (unless such action is based upon a breach of such Investor&rsquo;s representations, warranties or covenants
under the Transaction Documents or any agreements or understandings such Investor may have with any such stockholder or any violations
by such Investor of state or federal securities laws or any conduct by such Investor which constitutes fraud, gross negligence,
willful misconduct or malfeasance). If any action shall be brought against any Investor Party in respect of which indemnity may
be sought pursuant to this Agreement, such Investor Party shall promptly notify the Company in writing, and the Company shall have
the right to assume the defense thereof with counsel of its own choosing. Any Investor Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Investor Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in
writing, (ii) the Company has failed after a reasonable period of time following such Investor Party&rsquo;s written request that
it do so, to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of such separate
counsel, a material conflict on any material issue between the position of the Company and the position of such Investor Party.
The Company will not be liable to any Investor Party under this Agreement (i) for any settlement by an Investor Party effected
without the Company&rsquo;s prior written consent, which shall not be unreasonably withheld or delayed; or (ii) to the extent,
but only to the extent that a loss, claim, damage or liability is attributable to such Investor Party&rsquo;s wrongful actions
or omissions, or gross negligence or to such Investor Party&rsquo;s breach of any of the representations, warranties, covenants
or agreements made by such Investor in this Agreement or in the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in"><FONT STYLE="font-size: 10pt">4.13
<U>Indemnification of the Company.</U> Each Investor, severally and not jointly and only to the extent of such Investor&rsquo;s
Purchase Price, will indemnify and hold the Company and its directors, manager, officers, shareholders, employees and agents (each,
a &ldquo;Company Party&rdquo;) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs
and expenses, including all judgments, amounts paid in settlements, court costs and </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">reasonable attorneys&rsquo; fees and costs of investigation that any such Company
Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties, covenants or
agreements made by or on behalf of such Investor in this Agreement or in the other Transaction Documents or (b) any violations
by such Investor of state or federal securities laws or any conduct by such Investor which constitutes fraud, gross negligence,
willful misconduct or malfeasance. If any action shall be brought against any Company Party in respect of which indemnity may be
sought pursuant to this Agreement, such Company Party shall promptly notify the Investor in writing, and the Investor shall have
the right to assume the defense thereof with counsel of its own choosing. Any Company Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Company Party except to the extent that (i) the employment thereof has been specifically authorized by such Investor in
writing, (ii) the Investor has failed after a reasonable period of time following such Company Party&rsquo;s written request that
it do so, to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of such separate
counsel, a material conflict on any material issue between the position of such Investor and the position of such Company Party.
Such Investor will not be liable to any Company Party under this Agreement for any settlement by a Company Party effected without
such Investor&rsquo;s prior written consent, which shall not be unreasonably withheld or delayed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.95in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intentionally
Omitted</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Closing.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Investors&rsquo; Obligations at the Closing.</U> Each Investor&rsquo;s obligations to effect the Closing, including without
limitation its obligation to purchase Shares and Warrants at the Closing, are conditioned upon the fulfillment (or waiver by such
Investor in its sole and absolute discretion) of each of the following events as of the Closing Date, and the Company shall use
commercially reasonable efforts to cause each of such conditions to be satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties of the Company set forth in this Agreement and in the other Transaction Documents shall be true
and correct in all material respects as of such date as if made on such date (except that to the extent that any such representation
or warranty relates to a particular date, such representation or warranty shall be true and correct in all material respects as
of that particular date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;prior
to the Closing Date the Company shall have filed the Amended Charter with the Secretary of State of Delaware authorizing a number
shares of Common Stock sufficient to issue the Securities, which Amended Charter shall continue to be in full force and effect
as of the Closing Date and shall be in a form acceptable to Battery;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall have complied with or performed in all material respects all of the agreements, obligations and conditions set forth
in this Agreement that are required to be complied with or performed by the Company on or before the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in"><FONT STYLE="font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall have delivered to such Investor a certificate, signed by the Chief Executive Officer and Chief Financial Officer
of the Company, certifying that the conditions specified in Section 6.1(a), 6.1(c), 6.1(k), 6.1(1), 6.1(m) and 6.1(n) have been
</FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">fulfilled as of
the Closing, it being understood that such Investor may rely on such certificate as though it were a representation and warranty
of the Company made herein;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to such Investor an opinion of counsel for the Company, dated as of the Closing Date, in form and
substance satisfactory to such Investor;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to such Investor duly executed certificates representing the Shares and the Warrants being purchased
by such Investor, as applicable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have executed and delivered to the Investor the Registration Rights Agreement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall deliver to each Investor who requests it, a management rights letter which shall be in a form acceptable to Battery.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to such Investor a certificate, signed by the Secretary or an Assistant Secretary of the Company,
attaching (i) the charter and By-Laws of the Company, and (ii) resolutions passed by its Board of Directors to authorize the transactions
contemplated hereby and by the other Transaction Documents, and certifying that such documents are true and complete copies of
the originals and that such resolutions have not been amended or superseded, it being understood that such Investor may rely on
such certificate as a representation and warranty of the Company made herein;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall have obtained the written agreement of each Specified Employee and critical consultant of the Company to refrain
from selling shares of Common Stock for the period specified in, and in accordance with, Section 4.1(k) hereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
shall have occurred no material adverse change in the Company&rsquo;s consolidated business or financial condition since the date
of the Company&rsquo;s most recent financial statements contained in the Disclosure Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Common Stock shall be traded on the OTCBB or listed on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select
Market or the New York Stock Exchange;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have authorized and reserved for issuance the aggregate number of shares of Common Stock issuable upon exercise of
all of the Warrants to be issued at the Closing (such number to be determined without regard to any restriction on such exercise);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">there
shall be no injunction, restraining order or decree of any nature of any court or Government Authority of competent jurisdiction
that is in effect that restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction
Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">the Company shall have waived any applicable anti-takeover measures under Delaware
law or the Company&rsquo;s charter documents that may be triggered by the actions set forth in the Transaction Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company and the Investors shall have made filings, if any, required by the Hart-Scott-Rodino Anti-Trust Improvements Act, as amended;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have executed an indemnification agreement with the Battery Member, in a form satisfactory to Battery, and shall
include the Battery Member on the Company&rsquo;s D&amp;O Insurance Policy.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Company&rsquo;s Obligations at the Closing.</U> The Company&rsquo;s obligations to effect the Closing with each Investor are
conditioned upon the fulfillment (or waiver by the Company in its sole and absolute discretion) of each of the following events
as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
representations and warranties of such Investor set forth in this Agreement and in the other Transaction Documents shall be true
and correct in all material respects as of such date as if made on such date (except that to the extent that any such representation
or warranty relates to a particular date, such representation or warranty shall be true and correct in all material respects as
of that date);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have complied with or performed all of the agreements, obligations and conditions set forth in this Agreement that
are required to be complied with or performed by such Investor on or before the Closing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">there
shall be no injunction, restraining order or decree of any nature of any court or Government Authority of competent jurisdiction
that is in effect that restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction
Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have executed each Transaction Document to which it is a party and shall have delivered the same to the Company;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have tendered to the Company the Purchase Price for the Shares and the Warrant being purchased by it at the Closing
by wire transfer of immediately available funds.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Miscellaneous.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival;
Severability.</U> The representations, warranties, covenants and indemnities made by the parties herein and in the other Transaction
Documents shall survive the Closing notwithstanding any due diligence investigation made by or on behalf of the party seeking to
rely thereon. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; <I>provided </I>that
in such case the parties shall negotiate in good faith to replace such provision with a new provision which is not illegal, </FONT><FONT STYLE="font: 9pt Sans-Serif; color: Red"><B></B></FONT><FONT STYLE="font-size: 10pt">unenforceable or void, as long as such new provision does not materially change
the economic benefits of this Agreement to the parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns.</U> The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and permitted assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under
or by reason of this Agreement, except as expressly provided in this Agreement. After the Closing, the Investors may assign their
respective rights and obligations hereunder, in connection with any private sale or transfer of the Shares or Warrants in accordance
with the terms hereof, as long as, as a condition precedent to such transfer, the transferee executes an acknowledgment agreeing
to be bound by the applicable provisions of this Agreement, in which case the term &ldquo;Investor&rdquo; shall be deemed to refer
to such transferee as though such transferee were an original signatory hereto. The Company may not assign its rights or obligations
under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Reliance.</U> Each party acknowledges that (i) it has such knowledge in business and financial matters as to be fully capable of
evaluating this Agreement, the other Transaction Documents, and the transactions contemplated hereby and thereby, (ii) it is not
relying on any advice or representation or warranty of any other party in connection with entering into this Agreement, the other
Transaction Documents, or such transactions (other than the representations and warranties made in this Agreement or the other
Transaction Documents), (iii) it has not received from any party any assurance or guarantee as to the merits (whether legal, regulatory,
tax, financial or otherwise) of entering into this Agreement or the other Transaction Documents or the performance of its obligations
hereunder and thereunder, and (iv) it has consulted with its own legal, regulatory, tax, business, investment, financial and accounting
advisors to the extent that it has deemed necessary, and has entered into this Agreement and the other Transaction Documents based
on its own independent judgment and on the advice of its advisors as it has deemed necessary, and not on any view (whether written
or oral) expressed by any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Independent
Nature of Investors&rsquo; Obligations and Rights.</U> The obligations of each Investor hereunder are several and not joint with
the obligations of the other Investors hereunder, and no Investor shall be responsible in any way for the performance of the obligations
of any other Investor hereunder. The Company acknowledges and agrees that nothing contained herein or in any other agreement or
document delivered at Closing, and no action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute the
Investors as a partnership, an association, a joint venture or any other kind of entity, or a &ldquo;group&rdquo; as described
in Section 13(d) of the Exchange Act, or create a presumption that the Investors are in any way acting in concert with respect
to such obligations or the transactions contemplated by this Agreement. Each Investor has been represented by its own separate
counsel in connection with the transactions contemplated hereby, shall be entitled to protect and enforce its rights, including
without limitation rights arising out of this Agreement or the other Transaction Documents, individually, and shall not be required
to be join any other Investor as an additional party in any proceeding for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunctive
Relief.</U> The parties hereto acknowledge and agree that a breach by either of their obligations hereunder will cause irreparable
harm the other party and that the remedy or remedies at law for any such breach will be inadequate and agrees, in the event of
any such breach, in addition to all other available remedies, the non-breaching party shall be entitled to an injunction restraining
any breach and requiring immediate and specific performance of such obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investors&rsquo;
Trading Activity.</U> The Company acknowledges that, following the filing of the Current Report on Form 8-K described in paragraph
4.1 above, each Investor shall have the right to purchase or sell, long or short, Common Stock and instruments or contracts whose
value is derived from the market value of the Common Stock, and that sales of or certain derivative transactions relating to the
Common Stock may have a negative impact on the market price of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law; Jurisdiction.</U> This Agreement shall be governed by and construed under the laws of the State of New York applicable to
contracts made and to be performed entirely within the State of New York. Each party hereby irrevocably submits to the non-exclusive
jurisdiction of the state and federal courts sitting in the City and County of New York for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby and hereby irrevocably waives, and agrees not to assert in
any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. In any action, suit or proceeding in any
jurisdiction brought by any party against any other party, the parties each knowingly and intentionally, to the greatest extent
permitted by applicable law, hereby absolutely, unconditionally, irrevocably and expressly waives forever trial by jury.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts.</U>
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together
shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings.</U>
The headings used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices.</U>
Any notice, demand or request required or permitted to be given by the Company or the Investor pursuant to the terms of this Agreement
shall be in writing and shall be deemed delivered (i) when delivered personally or by verifiable facsimile transmission, unless
such delivery is made on a day that is not a Business Day, in which case such delivery will be deemed to be made on the next succeeding
Business Day, (ii) on the next Business Day after timely delivery to an overnight courier and (iii) on the Business Day actually
received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid), addressed as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in; text-align: left"><I>If to the Company</I>:</TD><TD STYLE="text-align: justify">Joel Ackerman, Chief Executive Officer</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">Champions Oncology, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">855 North Wolfe Street,
Suite 619</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">Baltimore, Maryland 21205</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">Tel (410) 369-0365</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">Fax (410) 369-0390</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">jackerman@championsoncology.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1.5in; text-align: left"><I>with a copy to</I>:</TD><TD STYLE="text-align: justify">Hillel Tendler, Esquire</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">Neuberger, Quinn, Gielen, Rubin &amp;
Gibber, P.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">One South Street, 27<SUP>th</SUP>
Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">Baltimore, Maryland 21202</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">Tel (41) 332-8552</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">Fax (410) 332-8553</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">ht@nqgrg.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">and if to any Investor, to such address for
such Investor as shall appear on the signature page hereof executed by such Investor, or as shall be designated by such Investor
in writing to the Company in accordance with this Section 7.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.11&nbsp; <U>Expenses.</U> The
Company and each Investor shall pay all costs and expenses that it incurs in connection with the negotiation, execution, delivery
and performance of this Agreement or the other Transaction Documents, <I>provided, however, </I>that that the Company shall, at
the Closing, pay up to $75,000 in immediately available funds for all reasonable, documented out-of-pocket expenses (including
without limitation reasonable legal fees and expenses) incurred or to be incurred by Battery in connection its due diligence investigation
of the Company and the negotiation, preparation, execution, delivery and performance of this Agreement and the other Transaction
Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">7.12 <U>Entire Agreement;
Amendments. </U> This Agreement and the other Transaction Documents constitute the entire agreement between the parties with regard
to the subject matter hereof and thereof, superseding all prior agreements or understandings, whether written or oral, between
or among the parties. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended except pursuant
to a written instrument executed by the Company and the holders of at least a majority of the Shares and Warrant Shares into which
all of the Warrants then outstanding are exercisable (without regard to any limitation on such exercise), and no provision hereof
may be waived other than by a written instrument signed by the party against whom enforcement of any such waiver is sought. Any
waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>[Signature Pages to Follow]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="3">CHAMPIONS ONCOLOGY, INC.</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <td colspan="2" style="border-bottom: Black 1pt solid">/s/ Joel Ackerman</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</td>
    <TD STYLE="width: 6%">&nbsp;</td>
    <TD STYLE="width: 6%">Name:</td>
    <TD STYLE="width: 48%">Joel Ackerman</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>Chief Executive Officer</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <td colspan="4">BATTERY VENTURES IX, L.P.</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>By:</td>
    <td colspan="3">Battery Partners IX, LLC</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="3">General Partner</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</td>
    <TD STYLE="width: 6%">&nbsp;</td>
    <TD STYLE="width: 6%">&nbsp;</td>
    <TD STYLE="width: 6%">&nbsp;</td>
    <TD STYLE="width: 42%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>By:</td>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Name:</td>
    <TD>Scott Tobin</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>Title:</td>
    <TD>Member Manager</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">BATTERY INVESTMENT PARTNERS, IX, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Battery Partners IX, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Managing Member</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Scott Tobin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Scott Tobin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Member Manager</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</td>
    <TD STYLE="width: 60%; border-bottom: Black 1pt solid">/s/ Joel Ackerman</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Joel Ackerman</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Ronnie Morris</td></tr>
<tr style="vertical-align: top">
    <TD>&nbsp;</td>
    <TD>Ronnie Morris</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>SCHEDULE OF INVESTORS </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; padding-left: 0; text-indent: 0">Name</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Purchase <BR> Price</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Shares</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Warrants</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left; padding-left: 0; text-indent: 0">Battery Ventures IX, L.P.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">4,059,410</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">5,412,547</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">811,882</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Battery Investment Partners IX, LLC</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">40,590</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">54,120</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">8,118</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Harris &amp; Harris Group, Inc.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">2,000,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">2,666,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Perceptive Life Sciences Master Fund Ltd.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">1,250,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">1,666,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Porter Partners, L.P.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">340,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">453,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">EDJ Limited</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">60,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">80,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Northwood Capital Partners LP</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">200,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">266,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">The Oliver D. Curme Children&rsquo;s Trust - 1997</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">666,667</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Richard L. Sandor Revocable Trust</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">250,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">333,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">50,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Ronnie Morris, M.D.</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">250,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">333,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Joel Ackerman</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">250,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">333,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">0</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Steve Geller</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">$</TD><TD STYLE="padding-bottom: 1pt; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">133,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: right">20,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0; text-indent: 0">Bernard Kaminetsky </TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">100,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">133,333</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt; padding-left: 0; text-indent: 0">TOTAL</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">9,400,000</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">12,533,333</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,010,000</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>v404684_ex10-4.htm
<DESCRIPTION>EXHIBIT 10.4
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: right">Exhibit 10.4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">AMENDED AND
RESTATED 2013 SECURITIES PURCHASE AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">This AMENDED AND RESTATED
2013 SECURITIES PURCHASE AGREEMENT (this <U>&ldquo;Agreement&rdquo;</U>), dated as of March 13, 2015, by and between Champions
Oncology, Inc., a Delaware corporation (the <U>&ldquo;Company&rdquo;</U>), Battery Ventures IX, L.P., a Delaware limited partnership
<U>(&ldquo;Ventures&rdquo;</U>), Battery Investment Partners IX, LLC, a Delaware limited liability company (together with Ventures,
<U>&ldquo;Battery&rdquo;</U>), PAR Investment Partners, L.P., a Delaware limited partnership (&ldquo;<U>PAR</U>&rdquo;), Joel Ackerman
(&ldquo;<U>Ackerman</U>&rdquo;) and Ronnie Morris (&ldquo;<U>Morris</U>&rdquo;) amends and restates in its entirety the Securities
Purchase Agreement dated as of January 28, 2013 (the &ldquo;<U>Original 2013 Securities Purchase Agreement</U>&rdquo;) between
the Company, Battery, PAR, Ackerman, Morris and the other parties to the Original 2013 Securities Purchase Agreement (such parties,
Battery, PAR, Ackerman and Morris being the <U>&ldquo;Investors&rdquo;</U>), as amended by the Amendment No. 1 to 2013 Securities
Purchase Agreement dated January 29, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the Original 2013 Securities Purchase Agreement, the Company sold to each Investor, and each Investor purchased, on the terms
and subject to the conditions set forth in the Original 2013 Securities Purchase Agreement, (i) shares (the <U>&ldquo;Shares&rdquo;</U>)
of the Company&rsquo;s common stock, $0.001 par value per share (the <U>&ldquo;Common Stock&rdquo;</U>), and (ii) a Warrant in
the form attached thereto as <U>Exhibit A</U> (each, a <U>&ldquo;Warrant&rdquo;</U> and, collectively with the other Warrants issued
thereunder, the <U>&ldquo;Warrants</U>&rdquo;). The shares of Common Stock into which the Warrants are exercisable are referred
to herein as the <U>&ldquo;Warrant Shares&rdquo;</U>, and the Shares, the Warrants, the Warrant Shares, and the Put Option Shares
(as defined below) are collectively referred to herein as the <U>&ldquo;Securities&rdquo;</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Battery,
PAR, Ackerman and Morris constitute the holders of at least a majority of the number of Shares and Warrant Shares into which all
of the Warrants then outstanding are exercisable, and thus this Agreement is binding upon all of the parties, including all of
the Investors, to the Original 2013 Securities Purchase Agreement pursuant to Section 6.12 of the Original 2013 Securities Purchase
Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 0.5in">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company, Battery, PAR, Ackerman and Morris wish to amend and restate the Original 2013 Securities Purchase Agreement, including
to add a limitation with respect to the Put Right (as defined herein).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">In consideration of the mutual
promises made herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Company and each Investor hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Purchase
and Sale of Shares and Warrants.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing
of Purchase and Sale; Purchase Price.</U> Upon the terms and subject to the satisfaction or waiver of the conditions set forth
in the Original 2013 Securities Purchase Agreement, the Company agreed to sell and each Investor agreed to purchase (i) the number
of Shares set forth below such Investor&rsquo;s name on the signature pages thereof, and (ii) a Warrant. The date on which the
closing of the purchase and sale pursuant to the terms of the Original 2013 Securities Purchase Agreement occurred (the <U>&ldquo;Closing&rdquo;)</U>
is hereinafter referred to as the &ldquo;<U>Closing Date</U>&rdquo;. The Closing was deemed to occur at the offices of Epstein
Becker &amp; Green, P.C., 250 Park Avenue, New York, NY 10177, within two (2) business days following the satisfaction or waiver
of the conditions to the Closing set forth in Section 5 thereof. At the Closing, the Escrow Agent (i) released the aggregate Purchase
Price to the Company, (ii) delivered the Warrants to the Investors and (iii) delivered the Transfer Agent Instruction Letter to
the Company&rsquo;s transfer agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exercise
of Investor Put Option.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subject
to adjustments pursuant to Section 1.2(b), if any, upon the occurrence of a Put Option Trigger Event (as defined below), each Investor
shall have the right to elect to require the Company to acquire, severally and not jointly, from such Investor the Shares held
by such Investor (the &ldquo;<U>Put Shares</U>&rdquo;) for an amount equal to the number of Put Shares times the Per Share Price
(the &ldquo;<U>Put Right</U>&rdquo;). An Investor may exercise their Put Right by delivering written notice to the Company (the
&ldquo;<U>Put Option Exercise Notice</U>&rdquo;) within thirty (30) days of a Put Option Trigger Event (the &ldquo;<U>Put Option
Exercise Deadline</U>&rdquo;), which shall indicate (x) the total number of Put Shares to be acquired from the exercising Investor
and (y) the Business Day on which the closing of the purchase of the Put Shares subject to the Put Option Exercise Notice shall
occur (the <U>&ldquo;Put Option Closing&rdquo;);</U><I> provided, however, </I>that the Put Option Closing shall occur at least
five (5) Business Days following the Put Option Exercise Deadline and no later than ninety (90) Business Days following the Put
Option Exercise Deadline.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Adjusted
Put Shares</U>. In the event that the Company does not have sufficient Legally Available Cash (as defined below) to satisfy all
of its put right obligations in this Agreement and the Other Securities Purchase Agreements, the Put Right for an Investor shall
be limited to a number of Put Shares (&ldquo;<U>Adjusted Put Shares</U>&rdquo;) equal to the following (rounded to the nearest
whole number):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">APS = [(X * [(A*Y)/((A*Y)+(B*Z)+(C*W))]]
/ Y</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">APS = Adjusted Put Shares</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 76.5pt; text-indent: 0in">X = Legally Available Cash</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">A = total number of Put Shares that an Investor elects to
have repurchased pursuant to such Investor&rsquo;s Put Right in connection with the relevant Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">B = total number of put shares that 2011 Investors elect
to have repurchased pursuant to such investors&rsquo; put rights in the Amended and Restated 2011 Purchase Agreement in connection
with the relevant Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">C = total number of put shares that 2015 Investors elect
to have repurchased pursuant to such investors&rsquo; put rights in the 2015 Purchase Agreement in connection with the relevant
Put Option Triggering Event</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Y = Per Share Price</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">Z = Per Share Price (as defined in the Amended and Restated
2011 Purchase Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">W = Per Share Price (as defined in the 2015 Purchase Agreement)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.45in">&ldquo;<U>Legally Available
Cash</U>&rdquo; means the maximum of amount of cash that the Company is legally permitted (as determined by an opinion of counsel)
to spend on the repurchase of shares of Common Stock from the Investors, the 2011 Investors and/or the 2015 Investors, whether
or not such maximum amount of cash is then actually available to the Company.&nbsp; If there are no legal restrictions on the repurchase
of Common Stock held by the Investors, the 2011 Investors and/or the 2015 Investors, then &ldquo;Legally Available Cash&rdquo;
shall be deemed to be in excess of the amount necessary to satisfy all of the Company&rsquo;s put right obligations under this
Agreement and the Other Securities Purchase Agreements, and as such this clause (b) shall not apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Put Right shall terminate for all Investors if one of the following events has occurred:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
daily VWAP of the Common Stock is greater than or equal to three hundred and seventy-five percent (375%) of the Per Share Price
for any consecutive forty trading-day period (the <U>&ldquo;Measurement Period&rdquo;)</U> and (y) the daily volume traded in Common
Stock has averaged at least 250,000 shares during such Measurement Period, provided that such daily volume shall be adjusted proportionately
to account for any stock splits or reverse stock splits of the Common Stock;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(x)
the Company completes an offering of its Common Stock registered under the Securities Act with gross proceeds to the Company of
at least fifteen million dollars ($15,000,000) at a price per share that equals or exceeds three hundred and seventy-five percent
(375%) of the Per Share Price and (y) the resale of the Shares held by the Investors at such time is registered on an effective
registration statement under the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a
sale by one of the Investors of twenty-five percent (25%) of the Shares held by such Investor, <I>provided, however, </I>that a
sale by such Investor will only affect such Investor and will not affect the Put Right of any other Investor;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;each
of Battery (unless Battery&rsquo;s Put Right has terminated), PAR (unless PAR&rsquo;s Put Right has terminated) and the Company
consent in writing to terminate the Put Right; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;if
Battery&rsquo;s and PAR&rsquo;s Put Right have terminated, the Investors, other than Battery and PAR, holding a majority of the
Shares held by all such non-Battery and non-PAR Investors and the Company consent in writing to terminate the Put Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.95in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Battery&rsquo;s
Put Right shall terminate if both Battery and the Company consent in writing to terminate Battery&rsquo;s Put Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAR&rsquo;s
Put Right shall terminate if both PAR and the Company consent in writing to terminate PAR&rsquo;s Put Right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Put
Option Closing.</U> Upon the terms and subject to the satisfaction or waiver of the conditions set forth herein, the Company shall
purchase from each Investor subject to a Put Option Exercise Notice, severally, but not jointly, at the Put Option Closing, the
number of Put Shares to be purchased from such Investor in accordance with Section 1.2(a). Each Put Option Closing shall occur
at 10:00 a.m., New York City time, on the date specified in the Put Option Exercise Notice (or such later date as is mutually agreed
to by the Company and each Investor) after notification of satisfaction (or waiver) of the conditions to such Closing set forth
in Section 5 below at the offices of Epstein Becker &amp; Green, P.C., 250 Park Avenue, New York, NY 10177, or such other place
as the Company and the affected Investor may agree. The date on which any such Closing occurs is hereinafter referred to herein
as a <U>&ldquo;Put Option Closing Date.&rdquo;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Definitions.</U> When used herein, the following terms shall have the respective meanings indicated:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Affiliate&rdquo;</U>
means, as to any Person (the <U>&ldquo;subject Person&rdquo;),</U> any other Person (a) that directly or indirectly through one
or more intermediaries controls or is controlled by, or is under direct or indirect common control with, the subject Person, (b)
that directly or indirectly beneficially owns or holds ten percent (10%) or more of any class of voting equity of the subject Person,
or (c) ten percent (10%) or more of the voting equity of which is directly or indirectly beneficially owned or held by the subject
Person. For the purposes of this definition, <U>&ldquo;control&rdquo;</U> when used with respect to any Person means the power
to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities,
through representation on such Person&rsquo;s board of directors or other management committee or group, by contract or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Agreement&rdquo;</U>
has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Amended and Restated
Registration Rights Agreement&rdquo;</U> means the 2015 Amended and Restated Registration Rights Agreement between the Company,
the Investors and the other parties thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Amended and Restated
2011 Purchase Agreement</U>&rdquo; means the Amended and Restated 2011 Securities Purchase Agreement between the Company and certain
investors dated the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Battery&rdquo;</U>
has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Battery Member&rdquo;</U>
has the meaning specified in Section 4.3 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Board of Directors&rdquo;</U>
means the Company&rsquo;s board of directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Business&rdquo;</U>
means the consolidated business, properties, assets, operations, results of operations or financial condition of the Company and
its Subsidiaries taken as a whole.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Business Day&rdquo;</U>
means any day other than a Saturday, a Sunday or a day on which the New York Stock Exchange is closed or on which banks in the
City of New York are required or authorized by law to be closed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Change of Control&rdquo;</U>
means the occurrence of any one or more of the following events: (i) the sale or other disposition to an unrelated party of all
or substantially all of the assets of the Company in one transaction or a series of transactions (other than financing arrangements);
or (ii) a merger, consolidation or share exchange involving the Company and any other person or entity (other than for the purposes
of reincorporation), in which the Company or one of its subsidiaries is not the surviving entity, after approval of the Board of
Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Closing&rdquo;</U>
has the meaning specified in Section 1.1 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Closing Date&rdquo;</U>
has the meaning specified in Section 1.1 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Commission&rdquo;</U>
means the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Common Stock&rdquo;</U>
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Company&rdquo;</U>
has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Company Party&rdquo;</U>
has the meaning specified in Section 4.13 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Current Violation</U>&rdquo;
has the meaning specified in Section 3.7 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Debt&rdquo;</U>
means, as to any Person at any time: (a) all indebtedness, liabilities and obligations of such Person for borrowed money; (b) all
indebtedness, liabilities and obligations of such Person to pay the deferred purchase price of Property or services (except trade
accounts payable, accrued compensation, accrued expenses, and unearned revenue and customer deposits of such Person that, in any
such case, arise in the ordinary course of business and are not more than sixty (60) days past due); (c) all capital lease obligations
of such Person; (d) all indebtedness, liabilities and obligations of others guaranteed by such Person; (e) all indebtedness, liabilities
and obligations secured by a Lien existing on Property owned by such Person, whether or not the indebtedness, liabilities or obligations
secured thereby have been assumed by such Person or are non-recourse to such Person; (f) all reimbursement obligations of such
Person (whether contingent or otherwise) in respect of letters of credit, bankers&rsquo; acceptances, surety or other bonds and
similar instruments; and (g) all indebtedness, liabilities and obligations of such Person to redeem or retire shares of capital
stock of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Disclosure Documents&rdquo;</U>
means all SEC Documents filed by the Company at least two (2) Business Days prior to the date of this Agreement via the Commission&rsquo;s
Electronic Data Gathering, Analysis and Retrieval system (EDGAR) in accordance with the requirements of Regulation S-T under the
Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Disclosure Schedule</U>&rdquo;
has the meaning specified in the introduction to the Disclosure Schedule attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Effective Date&rdquo;</U>
has the meaning specified in the Amended and Restated Registration Rights Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Embargoed Person&rdquo;</U>
has the meaning specified in Section 3.26 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Environmental Law&rdquo;</U>
means any federal, state, provincial, local or foreign law, statute, code or ordinance, principle of common law, rule or regulation,
as well as any Permit, order, decree, judgment or injunction issued, promulgated, approved or entered thereunder, relating to pollution
or the protection, cleanup or restoration of the environment or natural resources, or to the public health or safety, or otherwise
governing the generation, use, handling, collection, treatment, storage, transportation, recovery, recycling, discharge or disposal
of hazardous materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;ERISA&rdquo;</U>
means the Employee Retirement Income Security Act of 1974, as amended, and the regulations and published interpretations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Escrow Agreement</U>&rdquo;
means the Escrow Agreement dated as of the date hereof between the Company, each Investor and the Escrow Agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Escrow Agent</U>&rdquo;
means Epstein Becker &amp; Green, P.C.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Exchange Act&rdquo;</U>
means the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Execution Date&rdquo;</U>
means the date of the Original 2013 Securities Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;FINRA&rdquo;</U>
means Financial Industry Regulatory Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;GAAP&rdquo;</U>
means generally accepted accounting principles, applied on a consistent basis, as set forth in (i) opinions of the Accounting Principles
Board of the American Institute of Certified Public Accountants, (ii) statements of the Financial Accounting Standards Board and
(iii) interpretations of the Commission and the staff of the Commission. Accounting principles are applied on a &ldquo;consistent
basis&rdquo; when the accounting principles applied in a current period are comparable in all material respects to those accounting
principles applied in a preceding period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Governmental Authority&rdquo;</U>
means any nation or government, any state, provincial or political subdivision thereof and any entity exercising executive, legislative,
judicial, regulatory or administrative functions of or pertaining to government, including without limitation any stock exchange,
securities market or self-regulatory organization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Governmental Requirement&rdquo;</U>
means any law, statute, code, ordinance, order, rule, regulation, judgment, decree, injunction, franchise, license or other directive
or requirement of any federal, state, county, municipal, parish, provincial or other Governmental Authority or any department,
commission, board, court, agency or any other instrumentality of any of them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Harris &amp; Harris&rdquo;</U>
means Harris &amp; Harris Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Health Authorities&rdquo;</U>
has the meaning specified in Section 3.30(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Intellectual Property&rdquo;</U>
means any U.S. or foreign patents, patent rights, patent applications, trademarks, trade names, service marks, brand names, logos
and other trade designations (including unregistered names and marks), trademark and service mark registrations and applications,
copyrights and copyright registrations and applications, inventions, invention disclosures, protected formulae, formulations, processes,
methods, trade secrets, computer software, computer programs and source codes, manufacturing research and similar technical information,
engineering know-how, customer and supplier information, assembly and test data drawings or royalty rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Investment Company
Act&rdquo;</U> means the Investment Company Act of 1940, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Investor&rdquo;</U>
and <U>&ldquo;Investors&rdquo;</U> have the meanings specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Investor Party&rdquo;</U>
has the meaning specified in Section 4.12 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Key Employee&rdquo;</U>
has the meaning specified in Section 3.15 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Legally Available
Cash</U>&rdquo; shall have the meaning specified in Section 1.2(b) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Lien</U>&rdquo;
means, with respect to any Property, any mortgage, pledge, hypothecation, assignment, deposit arrangement, security interest, tax
lien, financing statement, pledge, charge, or other lien, charge, easement, encumbrance, preference, priority or other security
agreement or preferential arrangement of any kind or nature whatsoever on or with respect to such Property (including, without
limitation, any conditional sale or other title retention agreement having substantially the same economic effect as any of the
foregoing).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Material Adverse
Effect&rdquo;</U> means an effect that is material and adverse to (i) the Business, (ii) the ability of the Company to perform
its obligations under this Agreement or the other Transaction Documents (as defined below) or (iii) the rights and benefits to
which an Investor is entitled under this Agreement and the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Material Contracts&rdquo;</U>
means, as to the Company, any agreement required pursuant to Item 601 of Regulation S-B or Item 601 of Regulation S-K, as applicable,
promulgated under the Securities Act to be filed as an exhibit to any report, schedule, registration statement or definitive proxy
statement filed or required to be filed by the Company with the Commission under the Exchange Act or any rule or regulation promulgated
thereunder, and any and all amendments, modifications, supplements, renewals or restatements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Measurement Period&rdquo;</U>
has the meaning specified in Section 1.2(b) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;New Securities&rdquo;</U>
shall mean, collectively, equity securities of the Company, whether or not currently authorized, as well as rights, options, or
warrants to purchase such equity securities, or securities of any type whatsoever that are, or may become, convertible or exchangeable
into or exercisable for such equity securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Original 2013 Securities
Purchase Agreement</U>&rdquo; has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;OTCBB&rdquo;</U>
has the meaning specified in Section 3.22 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Other Securities
Purchase Agreement</U>&rdquo; means, each and jointly, the Amended and Restated 2011 Purchase Agreement and the 2015 Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;PAR&rdquo;</U>
has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;PAR Member&rdquo;</U>
has the meaning specified in Section 4.3 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Pension Plan&rdquo;</U>
means an employee benefit plan (as defined in ERISA) maintained by the Company for employees of the Company or any of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Permitted Liens&rdquo;</U>
means the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;encumbrances
consisting of easements, rights-of-way, zoning restrictions or other restrictions on the use of Real Property or imperfections
to title that do not (individually or in the aggregate) materially impair the ability of the Company to use such Property in its
businesses, and none of which is violated in any material respect by existing or proposed structures or land use;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
for taxes, assessments or other governmental charges (including without limitation in connection with workers&rsquo; compensation
and unemployment insurance) that are not delinquent or which are being contested in good faith by appropriate proceedings, which
proceedings have the effect of preventing the forfeiture or sale of the Property subject to such Liens, and for which adequate
reserves (as determined in accordance with GAAP) have been established; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liens
of mechanics, materialmen, warehousemen, carriers, landlords or other similar statutory Liens securing obligations that are not
yet due and are incurred in the ordinary course of business or which are being contested in good faith by appropriate proceedings,
which proceedings have the effect of preventing the forfeiture or sale of the Property subject to such Liens, for which adequate
reserves (as determined in accordance with GAAP) have been established.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Per Share Price&rdquo;</U>
shall mean $0.50 per Share, as adjusted for any dividend, stock split, reverse stock split, split-up or other distribution on shares
of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Person&rdquo;</U>
means any individual, corporation, trust, association, company, partnership, joint venture, limited liability company, joint stock
company, Governmental Authority or other entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Pre-Notice&rdquo;</U>
has the meaning specified in Section 4.4(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Principal Market&rdquo;</U>
means the principal exchange or market on which the Common Stock is listed or traded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Property&rdquo;</U>
means property and/or assets of all kinds, whether real, personal or mixed, tangible or intangible (including, without limitation,
all rights relating thereto).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Pro Rata Share&rdquo;</U>
means, with respect to an Investor, the ratio determined by dividing (i) the number of Shares purchased hereunder by such Investor
by (ii) the aggregate number of Shares purchased hereunder by all of the Investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Purchase Price&rdquo;</U>
means, with respect to an Investor, the number of Shares purchased by such Investor at the Closing <U>times</U> the Per Share Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Closing&rdquo;</U>
has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Closing
Date&rdquo;</U> has the meaning specified in Section 1.2(c) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Put Option Exercise
Deadline</U>&rdquo; has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Exercise
Notice&rdquo;</U> has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Option Trigger
Event&rdquo;</U> shall mean the occurrence of any of the following events: (i) any Change of Control of the Company, or (ii) the
sale or exclusive license of substantially all of the Company&rsquo;s assets, or similar transaction, involving all or substantially
all of the Company&rsquo;s assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Right&rdquo;</U>
has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Put Shares&rdquo;</U>
has the meaning specified in Section 1.2(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Real Property&rdquo;</U>
has the meaning specified in Section 3.22 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Regulation D&rdquo;</U>
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Reserved Amount&rdquo;</U>
has the meaning specified in Section 4.5 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Rule 144&rdquo;</U>
means Rule 144 under the Securities Act or any successor provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;SEC Documents&rdquo;</U>
has the meaning specified in Section 3.4 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Securities&rdquo;</U>
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Securities Act&rdquo;</U>
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Shares&rdquo;</U>
has the meaning specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Specified Employee&rdquo;</U>
has the meaning specified in Section 4.1(k) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsequent Financing&rdquo;</U>
means any planned issuance by the Company or any of its Subsidiaries of Common Stock, common stock equivalents, indebtedness or
a combination of units thereof for cash consideration, except for offerings of Common Stock or other securities of the Company
that are registered under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsequent Financing
Notice&rdquo;</U> has the meaning specified in Section 4.4(a) hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsequent Financing
Share&rdquo;</U> means a fraction, the numerator of which is the number of Shares purchased by such Investor pursuant to this Agreement
held by such Investor on the date of a Pre-Notice, and the denominator of which is the total number of Shares issued to all Investors
pursuant to the terms of this Agreement outstanding on the date of such Pre-Notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Subsidiary&rdquo;</U>
means, with respect to the Company, any corporation or other entity (other than an entity having no material operations or business
during the twelve month period immediately preceding the Execution Date) of which at least a majority of the outstanding shares
of stock or other ownership interests having by the terms thereof ordinary voting power to elect a majority of the board of directors
(or Persons performing similar functions) of such corporation or entity (regardless of whether or not at the time, in the case
of a corporation, stock of any other class or classes of such corporation shall have or might have voting power by reason of the
happening of any contingency) is at the time directly or indirectly owned or controlled by the Company or one or more of its Affiliates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Termination Date&rdquo;</U>
means the first date on which there are no Warrants outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Threshold Amount&rdquo;</U>
means, with respect to each Investor, such Investor has (i) sold greater than or equal to twenty-five percent (25%) of the Shares
it purchases on the Closing Date or (ii) owns less than 10% of the Company&rsquo;s outstanding Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Trading Day&rdquo;</U>
means any day on which the Common Stock may be purchased and sold on the Principal Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Transaction Documents&rdquo;</U>
means, collectively, this Agreement, the Amended and Restated Registration Rights Agreement, the Warrants, the Escrow Agreement
and all other agreements, documents and other instruments executed and delivered by or on behalf of the Company or any of its officers
at the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>Transfer Agent
Instruction Letter</U>&rdquo; means an irrevocable instruction letter by the Company to the Company&rsquo;s transfer agent instructing
it to issue certificates representing the Shares to the Investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>2011 Investors</U>&rdquo;
means collectively, the several investors party to the 2011 Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>2011 Purchase Agreement</U>&rdquo;
means the Securities Purchase Agreement between the Company and certain investors dated March 24, 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;2013 Registrable
Securities&rdquo;</U> has the meaning specified in the Amended and Restated Registration Rights Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>2015 Investors</U>&rdquo;
means collectively, the several investors party to the 2015 Purchase Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&ldquo;<U>2015 Purchase Agreement</U>&rdquo;
means the Securities Purchase Agreement between the Company and certain investors dated the date of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Ventures&rdquo;</U>
has the meaning specified in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;VWAP&rdquo;</U>
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 stock exchange, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding
date) on the stock exchange 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) the volume weighted average price of the Common
Stock for such date (or the nearest preceding date) on the OTC Bulletin Board, (c) if the Common Stock is not then listed or quoted
for trading on the OTC Bulletin Board and if prices for the Common Stock are then reported in the &ldquo;Pink Sheets&rdquo; published
by Pink OTC Markets, 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 Investors of a majority in interest of the Shares then
outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><U>&ldquo;Warrant&rdquo;</U>
and <U>&ldquo;Warrants&rdquo;</U> have the meanings specified in the recitals to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Definitional Provisions.</U> All definitions contained in this Agreement are equally applicable to the singular and plural forms
of the terms defined. The words &ldquo;hereof&rsquo;, &ldquo;herein&rdquo; and &ldquo;hereunder&rdquo; and words of similar import
referring to this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties of Each Investor.</U> Each Investor (with respect to itself only) hereby represents and warrants to the Company
and agrees with the Company that, as of the Execution Date and as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Enforceability.</U> Such Investor (if an entity) is duly and validly organized, validly existing and in good standing under the
laws of the jurisdiction of its incorporation or organization as set forth below such Investor&rsquo;s name on the signature page
hereof with the requisite power and authority to purchase the Shares and Warrant to be purchased by it hereunder and to execute
and deliver this Agreement and the other Transaction Documents to which it is a party. This Agreement constitutes, and upon execution
and delivery thereof, each other Transaction Document to which such Investor is a party will constitute, such Investor&rsquo;s
valid and legally binding obligation, enforceable in accordance with its terms, subject to (i) applicable bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium or other similar laws of general application relating to or affecting the enforcement
of creditors&rsquo; rights generally and (ii) general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accredited
Investor.</U> Such Investor (i) is an &ldquo;accredited investor&rdquo; as that term is defined in Rule 501 of Regulation D and
(ii) is acquiring the Securities in the ordinary course of its business, solely for its own account, and not with a view to the
public resale or distribution of all or any part thereof, except pursuant to sales that are registered under the Securities Act
or are exempt from the registration requirements of, the Securities Act and does not have any agreement or understanding with any
person to distribute any of the Securities; <I>provided, however, </I>that, in making such representation, such Investor does not
agree to hold the Securities for any minimum or specific term and reserves the right to sell, transfer or otherwise dispose of
the Securities at any time in accordance with the provisions of this Agreement and with Federal and state securities laws applicable
to such sale, transfer or disposition.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Information.</U>
The Company has, prior to the Execution Date, provided such Investor with information regarding the business, operations and financial
condition of the Company and has, prior to the Execution Date, granted to such Investor the opportunity to ask questions of and
receive satisfactory answers from representatives of the Company, its officers, directors, employees and agents concerning the
Company and materials relating to the terms and conditions of the purchase and sale of the Securities hereunder, as such Investor
deems relevant in making an informed decision with respect to its investment in the Securities. Such Investor, either alone or
together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to
be capable of evaluating the risks of the proposed investment in the Securities, and has so evaluated the merits and risks of such
investment. Such Investor is able to bear the economic risk of an investment in the Securities and, at the present time, is able
to afford a complete loss of such investment. Neither such information nor any other investigation conducted by such Investor or
any of its representatives shall modify, amend or otherwise affect such Investor&rsquo;s right to rely on the Company&rsquo;s representations
and warranties contained in this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Disposition.</U> Such Investor acknowledges that, except as provided in the Amended and Restated Registration Rights Agreement,
the Securities have not been and are not being registered under the Securities Act and may not be transferred or resold without
registration under the Securities Act or unless pursuant to an exemption therefrom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Legend.</U>
Such Investor understands that the certificates representing the Securities may bear at issuance a restrictive legend in substantially
the following form:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&ldquo;The securities represented by
this certificate have not been registered under the Securities Act of 1933, as amended (the <U>&ldquo;Securities Act&rdquo;),</U>
or the securities laws of any state, and may not be offered, transferred, pledged, hypothecated, sold or otherwise disposed of
unless a registration statement under the Securities Act and applicable state securities laws shall have become effective with
regard thereto, or an exemption from registration under the Securities Act and applicable state securities laws is available in
connection with such offer or sale.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reliance
on Exemptions.</U> Such Investor understands that the Securities are being offered and sold to it in reliance upon specific exemptions
from the registration requirements of U.S. federal and state securities laws and that the Company is relying upon the truth and
accuracy of the representations and warranties of such Investor set forth in this Section 2 in order to determine the availability
of such exemptions and the eligibility of such Investor to acquire the Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">2.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Affiliate
Status; Common Stock Ownership.</U> Other than Battery, PAR, Joel Ackerman and Ronnie Morris, such Investor is not an Affiliate
of the Company or of any other Investor and is not acting in association or concert with any other Person in regard to its purchase
of the Securities or otherwise in respect of the Company. Except for the Investors identified in the sentence above, such Investor&rsquo;s
investment in the Securities is not for the purpose of acquiring, directly or indirectly, control of, and it has no intent to acquire
or exercise control of, the Company or to influence the decisions or policies of the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Representations
and Warranties of the Company.</U> The Company hereby represents and warrants to each Investor that, except as expressly set forth
on the Disclosure Schedule to this Agreement, as of the Execution Date and as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Organization,
Good Standing and Qualification.</U> The Company and each of its Subsidiaries is an entity duly organized, validly existing and
in good standing under the laws of the jurisdiction under which it is incorporated, and has all requisite corporate power and authority
to conduct its business as currently conducted and to execute, deliver and perform all of its obligations under this Agreement
and to consummate the transactions contemplated hereby. The Company and each of its subsidiaries is qualified to do business as
a foreign corporation in each jurisdiction where failure to be so qualified could, individually or in the aggregate, reasonably
be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authorization;
Consents.</U> The Company has the requisite corporate power and authority to enter into and perform its obligations under the Transaction
Documents, including, without limitation, its obligations to issue and sell the Securities to the Investors in accordance with
the terms hereof and thereof, and to issue the Warrant Shares upon exercise of the Warrants. All corporate action on the part of
the Company by its officers, directors and stockholders necessary for the authorization, execution and delivery of, and the performance
by the Company of its obligations under, the Transaction Documents has been taken, and no further consent or authorization of the
Company, its Board of Directors, stockholders, any Governmental Authority or organization (other than such approval as may be required
under the Securities Act and applicable state securities laws in respect of the Amended and Restated Registration Rights Agreement),
or any other person or entity is required (pursuant to any rule of FINRA or otherwise).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Execution; Enforceability.</U> This Agreement has been and, at or prior to the Closing, each other Transaction Document to be delivered
at the Closing will be, duly executed and delivered by the Company. This Agreement constitutes and, upon the execution and delivery
thereof by the Company, each other Transaction Document will constitute the valid and legally binding obligation of the Company,
enforceable against it in accordance with its terms, subject to (i) applicable bankruptcy, insolvency, fraudulent transfer, moratorium,
reorganization or other similar laws of general application relating to or affecting the enforcement of creditors&rsquo; rights
generally and (ii) general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
Documents; Agreements; Financial Statements; Other Information.</U> The Company is subject to the reporting requirements of the
Exchange Act and has filed with the Commission all reports, schedules, registration statements and definitive proxy statements
that the Company was required to file with the Commission during the preceding twelve calendar months (collectively, the <U>&ldquo;SEC
Documents&rdquo;).</U> The Company is not aware of any event occurring or expected to occur on or prior to the Closing Date (other
than the transactions effected hereby and quarterly releases of financial results) that would require the filing of, or with respect
to which the Company intends to file, a Form 8-K after the Closing. Each SEC Document, as of the date of the filing thereof with
the Commission (or if amended or superseded by a filing prior to the Execution Date, then on the date of such amending or superseding
filing), complied in all material respects with the requirements of the Securities Act or Exchange Act, as applicable, and the
rules and regulations promulgated thereunder and, as of the date of such filing (or if amended or superseded by a filing prior
to the Execution Date, then on the date of such filing), such SEC Document (including all exhibits and schedules thereto and documents
incorporated by reference therein) did not contain an untrue statement of material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not
misleading. All documents required to be filed as exhibits to the SEC Documents have been filed as required. Except as set forth
in the Disclosure Documents, the Company has no liabilities, contingent or otherwise, other than liabilities incurred in the ordinary
course of business which, under GAAP, are not required to be reflected in the financial statements included in the Disclosure Documents
and which, individually or in the aggregate, are not material to the business or financial condition of the Company. As of their
respective dates, the financial statements of the Company included in the SEC Documents have been prepared in accordance with GAAP
(except (i) as may be otherwise indicated in such financial statements or the notes thereto, or (ii) in the case of unaudited interim
statements, to the extent they may exclude footnotes or may be condensed or summary statements) and fairly present in all material
respects the financial position of the Company as of the dates thereof and the results of its operations and cash flows for the
periods then ended (subject, in the case of unaudited statements, to normal year-end adjustments).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalization;
Debt Schedule.</U> The capitalization of the Company as of the date hereof, including its authorized capital stock, the number
of shares issued and outstanding, the number of shares issuable and reserved for issuance pursuant to the Company&rsquo;s stock
option plans and agreements, the number of shares issuable and reserved for issuance pursuant to securities (other than the Warrants)
exercisable for, or convertible into or exchangeable for any shares of Common Stock and the number of shares initially to be reserved
for issuance upon exercise of the Warrants, is set forth on Schedule 3.5 hereto. All issued and outstanding shares of capital stock
of the Company have been, or upon issuance will be, validly issued, fully paid and non-assessable. No shares of the capital stock
of the Company were issued in violation of preemptive rights or any other similar rights of security holders of the Company or
any Liens created by or through the Company. Except as disclosed on Schedule 3.5 or as contemplated herein, there are no outstanding
preemptive rights, rights of first refusal, shareholder rights, options, warrants, scrip, rights to subscribe to, calls or commitments
of any character whatsoever relating to, or securities or rights convertible into or exercisable or exchangeable for, any shares
of capital stock of the Company, or arrangements by which the Company is or may become (as a result of the transactions contemplated
hereby or the other Transaction Documents or otherwise) bound to issue additional shares of capital stock of the Company (whether
pursuant to anti-dilution, &ldquo;reset&rdquo; or other similar provisions). Except as described on Schedule 3.5 hereto, the Company
has no material Debt outstanding as of the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Due
Authorization; Valid Issuance.</U> The Shares and Warrants are duly authorized and, when issued, sold and delivered in accordance
with the terms hereof, (i) the Shares and Warrants will be duly and validly issued, and the Shares will be fully paid and nonassessable;
in each case, free and clear of any Liens imposed by or through the Company, and (ii) assuming the accuracy of each Investor&rsquo;s
representations in this Agreement, the Shares and Warrants will be issued, sold and delivered in compliance with all applicable
Federal and state securities laws. The Warrant Shares are duly authorized and reserved for issuance and, when issued in accordance
with the terms of the Warrants, will be duly and validly issued, fully paid and nonassessable, free and clear of any Liens imposed
by or through the Company and, assuming the accuracy of each Investor&rsquo;s representations in this Agreement at the time of
exercise, will be issued, sold and delivered in compliance with all applicable Federal and state securities laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Conflict with Other Instruments.</U> The Company is not in violation of any provisions of its charter, bylaws or any other governing
document or in default (and no event has occurred which, with notice or lapse of time or both, would constitute a default) under
any provision of any instrument or contract to which it is a party or by which it or any of its Property is bound, or in violation
of any provision of any Governmental Requirement applicable to it, except for any violation or default under any such instrument
or contract or any violation of any provision of a Governmental Requirement that, in either such case, has not had or would not
reasonably be expected to have a Material Adverse Effect (any such violation or default being referred to herein as a <U>&ldquo;Current
Violation&rdquo;).</U> The (i) execution, delivery and performance of this Agreement and the other Transaction Documents, and (ii)
consummation of the transactions contemplated hereby and thereby (including without limitation, the issuance of the Shares and
the Warrants and the reservation for issuance and issuance of the Warrant Shares) will not result in any violation of any provisions
of the Company&rsquo;s charter, Bylaws or any other governing document or in a default under any provision of any instrument or
contract to which it is a party or by which it or any of its Property is bound, or in violation of any provision of any Governmental
Requirement applicable to the Company or be in conflict with or constitute, with or without the passage of time and giving of notice,
either a default under any such provision, instrument or contract or an event which results in the creation of any Lien upon any
assets of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Financial
Condition; Taxes; Litigation.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&rsquo;s financial condition is, in all material respects, as described in the Disclosure Documents, except for changes
in the ordinary course of business and normal year-end adjustments that are not, in the aggregate, materially adverse to the business
or financial condition of the Company. Except as disclosed in the Disclosure Documents, there has been no (i) material adverse
change to the Company&rsquo;s business, operations, properties, financial condition, or results of operations since the date of
the Company&rsquo;s most recent audited financial statements contained in the Disclosure Documents or (ii) change by the Company
in its accounting principles, policies and methods except as required by changes in GAAP or applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company (i) has prepared in good faith and duly and timely filed all tax returns required to be filed by it and such returns are
complete and accurate in all material respects and (ii) has
paid all taxes required to have been paid by it, except for taxes which it reasonably disputes in good faith or the failure of
which to pay has not had or would not reasonably be expected to have a Material Adverse Effect, and has no liability with respect
to accrued taxes in excess of the amounts that are described as accrued in the most recent financial statements included in the
Disclosure Documents.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in Schedule 3.8(c), the Company is not the subject of any pending or, to the Company&rsquo;s knowledge, threatened
inquiry, investigation or administrative or legal proceeding by the Internal Revenue Service, the taxing authorities of any state
or local jurisdiction (other than with respect to taxes which it reasonably disputes in good faith or the failure of which to pay
has not had or would not reasonably be expected to have a Material Adverse Effect), the Commission, FINRA, any state securities
commission or other Governmental Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as described in Schedule 3.8(d), there is no material claim, litigation or administrative proceeding pending or, to the Company&rsquo;s
knowledge, threatened or contemplated, against the Company or, to the Company&rsquo;s knowledge, against any officer, director
or employee of the Company in connection with such person&rsquo;s employment therewith. The Company is not a party to or subject
to the provisions of, any order, writ, injunction, judgment or decree of any court or Governmental Authority which has had or would
reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Acknowledgement
of Dilution.</U> The Company acknowledges that the issuance of Warrant Shares upon exercise of the Warrants may result in dilution
of the outstanding shares of Common Stock, which dilution may be substantial under certain market conditions. The Company further
acknowledges that its obligation to issue Warrant Shares upon exercise of the Warrants in accordance with the terms of the Warrants,
is unconditional (other than with respect to the conditions set forth in the Warrants) regardless of the effect of any such dilution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Intellectual
Property.</U> Except as set forth in Schedule 3.10:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company owns, free and clear of claims or rights or any other Person, with full right to use, sell, license, sublicense, dispose
of, and bring actions for infringement of, or, to the knowledge of the Company, has acquired licenses or other rights to use, all
Intellectual Property necessary for the conduct of its business as presently conducted (other than with respect to software which
is generally commercially available and not used or incorporated into the Company&rsquo;s products and open source software which
may be subject to one or more &ldquo;general public&rdquo; licenses). All works that are used or incorporated into the Company&rsquo;s
services, products or services or products actively under development and which is proprietary to the Company was developed by
or for the Company by the current or former employees, consultants or independent contractors of the Company or its predecessors
in interest or purchased or licensed by the Company or its predecessors in interest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
business of the Company as presently conducted and the production, marketing, licensing, use and servicing of any products or services
of the Company do not, to the knowledge of the Company, infringe or conflict with any patent, trademark, copyright,
or trade secret rights of any third parties or any other Intellectual Property of any third parties in any material respect. The
Company has not received written notice from any third party asserting that any Intellectual Property owned or licensed by the
Company, or which the Company otherwise has the right to use, is invalid or unenforceable by the Company and, to the Company&rsquo;s
knowledge, there is no valid basis for any such claim (whether or not pending or threatened).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
claim is pending or, to the Company&rsquo;s knowledge, threatened against the Company nor has the Company received any written
notice or other written claim from any Person asserting that any of the Company&rsquo;s present or contemplated activities infringe
or may infringe in any material respect any Intellectual Property of such Person and the Company is not aware of any infringement
by any other Person of any material rights of the Company under any Intellectual Property Rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
licenses or other agreements under which the Company is granted Intellectual Property (excluding licenses to use software utilized
in the Company&rsquo;s internal operations and which is generally commercially available) are in full force and effect and, to
the Company&rsquo;s knowledge, there is no material default by any party thereto. The Company has no reason to believe that the
licensors under such licenses and other agreements do not have and did not have all requisite power and authority to grant the
rights to the Intellectual Property purported to be granted thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
licenses or other agreements under which the Company has granted rights to Intellectual Property to others (including all end-user
agreements) since January 1, 2009, are in full force and effect, unless otherwise terminated in accordance with the terms of such
licenses or arrangements, there has been no material default by the Company thereunder and, to the Company&rsquo;s knowledge, there
is no material default by any other party thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has taken all steps required in accordance with commercially reasonable business practice to establish and preserve its
ownership in its owned Intellectual Property and to keep confidential all material technical information developed by or belonging
to the Company which has not been patented or copyrighted. The Company is not making any material unlawful use of any Intellectual
Property of any other Person, including, without limitation, any former employer of any past or present employees of the Company.
To the Company&rsquo;s knowledge, neither the Company nor any of its employees has any agreements or arrangements with former employers
of such employees relating to any Intellectual Property of such employers, which materially interfere or conflict with the performance
of such employee&rsquo;s duties for the Company or result in any former employers of such employees having any rights in, or claims
on, the Company&rsquo;s Intellectual Property. Each current employee of the Company and each former employee of the Company who
was hired after January 1, 2011 has executed agreements regarding confidentiality, proprietary information and assignment of inventions
and copyrights to the Company, each independent contractor or consultant of the Company has executed agreements regarding confidentiality
and proprietary information, and the Company has not received written notice that any employee, consultant or independent contractor
is in violation of any agreement or in breach of any agreement or arrangement with former or present employers relating to proprietary
information or assignment of inventions. Without limiting the foregoing: (i) the Company has taken reasonable security measures
to guard against unauthorized disclosure or use of any of its Intellectual Property; and (ii)
the Company has no reason to believe that any Person (including, without limitation, any former employee or consultant of the Company)
has unauthorized possession of any of its Intellectual Property, or any part thereof, or that any Person has obtained unauthorized
access to any of its Intellectual Property. The Company is in compliance in all material respects with its obligations pursuant
to all agreements relating to Intellectual Property rights that are the subject of licenses granted by third parties, except for
any non-compliance that has not had or would not reasonably be expected to have a Material Adverse Effect.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Rights.</U> Except as described on Schedule 3.11 hereto, the Company has not granted or agreed to grant to any person or entity
any rights (including &ldquo;piggy-back&rdquo; registration rights) to have any securities of the Company registered with the Commission
or any other governmental authority which has not been satisfied in full prior or waived to the date hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fees</U>.
Except as contemplated by Section 7.11 hereof and as set forth on Schedule 3.12 or disclosed in writing to the Investor by the
Company, the Company is not obligated to pay any compensation or other fee, cost or related expenditure to any underwriter, broker,
agent or other representative in connection with the transactions contemplated hereby. The Company will indemnify and hold harmless
each Investor from and against any claim by any person or entity alleging that, as a result of any agreement or arrangement between
such Person and the Company, such Investor is obligated to pay any such compensation, fee, cost or related expenditure in connection
with the transactions contemplated hereby or the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Solicitation;
Other Issuances of Securities.</U> Neither the Company nor any of its Subsidiaries or Affiliates, nor any person acting on its
or their behalf, (i) has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D)
in connection with the offer or sale of the Securities, or (ii) has, directly or indirectly, made any offers or sales of any security
or the right to purchase any security, or solicited any offers to buy any security or any such right, under circumstances that
would require registration of the Securities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Foreign
Corrupt Practices.</U> Neither the Company, nor to the Company&rsquo;s knowledge any director, officer, agent, employee or other
person acting on behalf of the Company, has (i) used any corporate funds for any unlawful contribution, gift, entertainment or
other unlawful expenses relating to political activity, (ii) made any direct or indirect unlawful payment to any foreign or domestic
government official or employee (including without limitation any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment), or (iii) violated any provision of the Foreign Corrupt Practices Act of 1977, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Key
Employees.</U> Each of the Company&rsquo;s executive officers (as defined in Rule 501(f) of the Securities Act) (each, a <U>&ldquo;Key
Employee&rdquo;)</U> is currently serving in the capacity described in the Disclosure Documents. The Company has no knowledge of
any fact or circumstance (including without limitation (i) the terms of any agreement to which such person is a party or any litigation
in which such person is or may become involved and (ii) any illness or medical condition that could reasonably be expected to result
in the disability or incapacity of such person) that would limit or prevent any such person from serving in such capacity on a
full-time basis in the foreseeable future, or of any intention
on the part of any such person to limit or terminate his or her employment with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee
Matters.</U> There is no strike, labor dispute or union organization activities pending or, to the knowledge of the Company, threatened
between it and its employees. No employees of the Company belong to any union or collective bargaining unit. The Company has complied
in all material respects with all applicable federal and state equal opportunity and other laws related to employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Environment.</U>
To the Company&rsquo;s knowledge, the Company does not have any current liability under any Environmental Law, nor, to the knowledge
of the Company, do any factors exist that are reasonably likely to give rise to any such liability that, individually or in the
aggregate, has had or would reasonably be expected to have a Material Adverse Effect. To the Company&rsquo;s knowledge, the Company
has not violated any Environmental Law applicable to it now or previously in effect, other than such violations or infringements
that, individually or in the aggregate, have not had and would not reasonably be expected to have a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ERISA.</U>
Except as described on Schedule 3.18, the Company does not maintain or contribute to, or have any obligation under, any Pension
Plan. The Company is in compliance in all material respects with the presently applicable provisions of ERISA and the United States
Internal Revenue Code of 1986, as amended, with respect to each Pension Plan except in any such case for any such matters that,
individually or in the aggregate, have not had, and would not reasonably be expected to have, a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Insurance.</U>
The Company maintains insurance in such amounts and covering such losses and risks as the Company believes to be reasonably prudent
in relation to the businesses in which the Company is engaged. No notice of cancellation has been received for any of such policies
and the Company reasonably believes that is in compliance with all of the terms and conditions thereof The Company has no reason
to believe that it will not be able to renew any existing insurance coverage as and when such coverage expires or to obtain similar
coverage from similar insurers as may be necessary to continue doing business as currently conducted without a significant increase
in cost, other than normal increases in the industry. Without limiting the generality of the foregoing, the Company maintains Director&rsquo;s
and Officer&rsquo;s insurance in an amount deemed to be reasonable and appropriate by the Company&rsquo;s Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.20.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Property.</U>
The Company does not own any real property. The Company has good and marketable title to all personal Property owned by it which,
in each such case free and clear of all Liens except for Permitted Liens and except for such Liens which, individually and together
with all other Liens (including without limitation Permitted Liens) do not have, and cannot reasonably be expected to have, a Material
Adverse Effect. Any Property held under lease by the Company is held by it under valid, subsisting and enforceable leases with
such exceptions as are not material and do not materially interfere with the use made or proposed to be made of such Property by
the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.21.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Regulatory
Permits.</U> The Company possesses all material certificates, authorizations and permits issued by the appropriate federal, state
or foreign regulatory authorities necessary to conduct its businesses other than where the failure to possess such certificates,
authorizations or permits, individually or in the aggregate, has not had and would not reasonably be expected to have a Material
Adverse Effect. The Company has not received any notice or otherwise become aware of any proceedings, inquiries or investigations
relating to the revocation or modification of any such certificate, authorization or permit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.22.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Exchange
Act Registration; Listing. Exchange Act Registration; Listing. </U>The Company files supplementary and periodic information, documents,
and reports pursuant to Section 15(d) of the Exchange Act. The Company&rsquo;s Common Stock is registered pursuant to Section 12(g)
of the Exchange Act and is traded over-the-counter and quoted on the over-the-counter Bulletin Board QB or QX Markets (collectively,
&ldquo;<U>OTCBB</U>&rdquo;). The Company has taken no action designed to, or which, to the knowledge of the Company, would reasonably
be expected to have the effect of, terminating the registration of the Common Stock under the Exchange Act or ceasing the trading
of the Common Stock or its quoting on the OTCBB</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.23.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Company Status.</U> The Company is not, and immediately after receipt of payment for the Shares and the Warrants issued under this
Agreement will not be, an <U>&ldquo;investment company&rdquo;</U> or an entity <U>&ldquo;controlled&rdquo;</U> by an <U>&ldquo;investment
company&rdquo;</U> within the meaning of the Investment Company Act, and shall conduct its business in a manner so that it will
not become subject to the Investment Company Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.24.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer
Taxes.</U> No stock transfer or other taxes (other than income taxes) are required to be paid in connection with the issuance and
sale of any of the Securities, other than such taxes for which the Company has established appropriate reserves and intends to
pay in full on or before the Closing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.25.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sarbanes-Oxley
Act; Internal Controls and Procedures.</U> The Company is in material compliance with any and all applicable requirements of the
Sarbanes-Oxley Act of 2002 and any and all applicable rules and regulations promulgated by the SEC thereunder that are effective
as of the date hereof. The Company maintains internal accounting controls, policies and procedures, and such books and records
as are reasonably designed to provide reasonable assurance that (i) all transactions to which the Company is a party or by which
its properties are bound are effected by a duly authorized employee or agent of the Company, supervised by and acting within the
scope of the authority granted by the Company&rsquo;s senior management; (ii) the recorded accounting of the Company&rsquo;s consolidated
assets is compared with existing assets at regular intervals; and (iii) all transactions to which the Company is a party, or by
which its properties are bound, are recorded (and such records maintained) in accordance with all Governmental Requirements and
as may be necessary or appropriate to ensure that the financial statements of the Company are prepared in accordance with GAAP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.26.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Embargoed
Person.</U> None of the funds or other assets of the Company shall constitute property of, or shall be beneficially owned, directly
or indirectly, by any person subject to trade restrictions under United States law, including, but not limited to, the International
Emergency Economic Powers Act, 50 U.S.C. &sect; 1701 <I>et seq., </I>the Trading with the
Enemy Act, 50 U.S.C. App. 1 <I>et seq., </I>and any Executive Orders or regulations promulgated under any such United States laws
(each, an <U>&ldquo;Embargoed Person&rdquo;),</U> with the result that the investments evidenced by the Securities are or would
be in violation of law. No Embargoed Person shall have any interest of any nature whatsoever in the Company with the result that
the investments evidenced by the Securities are or would be in violation of law. None of the funds or other assets of the Company
shall be derived from any unlawful activity with the result that the investments evidenced by the Securities are or would be in
violation of law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.27.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Solvency.</U>
As of the Execution Date and as of the Closing Date, (i) the fair saleable value of the Company&rsquo;s assets exceeds the amount
that will be required to be paid on or in respect of the Company&rsquo;s existing Debt as such Debt matures or is otherwise payable;
(ii) the Company&rsquo;s assets do not constitute unreasonably small capital to carry on its business for the current fiscal year
as now conducted and as proposed to be conducted taking into account the current and projected capital requirements of the business
conducted by the Company and projected capital availability; and (iii) the current cash flow of the Company, together with the
proceeds the Company would receive upon liquidation of its assets, after taking into account all anticipated uses of such amounts,
would be sufficient to pay all Debt when such Debt is required to be paid. The Company has no knowledge of any facts or circumstances
which lead it to believe that it will be required to file for reorganization or liquidation under the bankruptcy or reorganization
laws of any jurisdiction, and has no present intention to so file.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.28.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transactions
with Interested Persons.</U> Except as set forth in the Disclosure Documents, no officer, director or employee of the Company is
or has made any arrangements with the Company to become a party to any transaction with the Company (other than for services as
employees, officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services
to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee
has a substantial interest or is an officer, director, trustee or partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.29.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Customers
and Suppliers.</U> Except as set forth in the Disclosure Documents, the relationships of the Company with its customers and suppliers
are maintained on commercially reasonable terms. To the Company&rsquo;s knowledge, no customer or supplier of the Company has any
plan or intention to terminate its agreement with the Company, which termination would reasonably be expected to have a Material
Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.30.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>FDA
Matters and Clinical Trials.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not received any notices or correspondence from any federal, state, local or foreign regulatory body that regulates
the types of matters subject to the jurisdiction of the U.S. Food and Drug Administration <U>(&ldquo;Health Authorities&rdquo;)
</U>which have not been resolved requiring or threatening the termination, suspension or modification of any animal studies, preclinical
tests or clinical trials conducted by or on behalf of the Company or in which the Company has participated that are described in
the Disclosure Documents or the results of which are referred to in the Disclosure Documents. To the knowledge of the Company,
the currently pending clinical trials, studies and other preclinical tests conducted by or on behalf of the Company and that are
described in the Disclosure Documents or the results of which
are referred to in the Disclosure Documents, are being conducted in accordance with experimental protocols, procedures and controls
generally used by qualified experts in the preclinical or clinical study of new drugs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has no knowledge of any adverse event that has resulted from any of such studies, tests or trials that was not disclosed
as required to any Health Authority.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.31.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Full
Disclosure.</U> The representations, warranties and written statements contained in this Agreement and the other Transaction Documents
and in the certificates, exhibits and schedules delivered to such Investor by the Company pursuant to this Agreement and the other
Transaction Documents and in connection with such Investor&rsquo;s due diligence investigation of the Company, do not contain any
untrue statement of a material fact, and do not omit to state a material fact required to be stated therein or necessary in order
to make such representations, warranties or statements not misleading in light of the circumstances under which they were made.
Neither the Company nor any Person acting on its behalf or at its direction has provided such Investor with material non-public
information. Following the filing of the Current Report on Form 8-K in accordance with Section 4.1(c) hereof, to the Company&rsquo;s
knowledge, such Investor will not possess any material non-public information concerning the Company. The Company acknowledges
that such Investor is relying on the representations, acknowledgments and agreements made by the Company in this Section 3.31 and
elsewhere in this Agreement in making trading and other decisions concerning the Company&rsquo;s securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">3.32.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Other Agreements.</U> The Company has not, directly or indirectly, entered into any agreement with or granted any right to any
Investor relating to the terms or conditions of the transactions contemplated by the Transaction Documents, except as expressly
set forth in the Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Covenants
of the Company and Each Investor.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees with each Investor that the Company will:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;file
a Form D with respect to the Securities issued at the Closing as and when required under Regulation D and provide a copy thereof
to such Investor promptly after such filing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;take
such action as the Company reasonably determines upon the advice of counsel is necessary to qualify the Shares and Warrants for
sale under applicable state or &ldquo;blue-sky&rdquo; laws or obtain an exemption therefrom, and shall promptly provide evidence
of any such action to such Investor at such Investor&rsquo;s request; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;on
or prior to 5:00 p.m. (eastern time) on the fourth Business Day following the Execution Date, file with the Commission a Current
Report on Form 8-K disclosing the material terms of this Agreement and the other Transaction Documents and the transactions contemplated
hereby and thereby, including as exhibits this Agreement and the other Transaction Documents; <I>provided, however, </I>that each
Investor shall have a reasonable opportunity to review and comment on any such Form 8-K prior to the issuance or filing thereof.
Thereafter, the Company shall timely file any filings and notices required by the Commission or applicable law with respect to
the transactions contemplated hereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">maintain
its corporate existence in good standing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">maintain,
keep and preserve all of its Properties necessary in the proper conduct of its businesses in good repair, working order and condition
(ordinary wear and tear excepted) and make all necessary repairs, renewals and replacements and improvements thereto, except where
the failure to do so would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">pay
or discharge before becoming delinquent (i) all taxes, levies, assessments and governmental charges imposed on it or its income
or profits or any of its Property and (ii) all lawful claims for labor, material and supplies, which, if unpaid, might become a
Lien upon any of its Property, except where the failure to do so would not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect; <I>provided, however, </I>that the Company shall not be required to pay or discharge any
tax, levy, assessment or governmental charge, or claim for labor, material or supplies, whose amount, applicability or validity
is being contested in good faith by appropriate proceedings being diligently pursued and for which appropriate reserves have been
established under GAAP;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">comply
with all Governmental Requirements applicable to the operation of its business, except for instances of noncompliance that would
not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect;,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">comply
with all agreements, documents and instruments binding on it or affecting its Properties or business, including, without limitation,
all Material Contracts, except for instances of noncompliance that would not reasonably be expected to have, individually or in
the aggregate, a Material Adverse Effect;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">provide
each Investor with copies of all materials sent to its stockholders, in each such case at the same time as delivered to such stockholders;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">timely
file with the Commission all reports required to be filed pursuant to the Exchange Act and refrain from terminating its status
as an issuer required by the Exchange Act to file reports thereunder even if the Exchange Act or the rules or regulations thereunder
would permit such termination;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">until
the earlier of (i) Effective Date of the Registration Statement and (ii) the date upon which all Investors are able to sell all
Shares in a 90 day period without volume or manner of sale limitations under Rule 144, take commercially reasonable steps to restrict
each of the Company&rsquo;s Chief Executive Officer and President (each, a <U>&ldquo;Specified Employee&rdquo;)</U> from selling
shares of Common Stock; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;use
commercially reasonable efforts to maintain adequate insurance coverage (including D&amp;O insurance) for the Company and each
Subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Voting
Rights.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The
Company agrees that it shall not approve of or give effect to any of the actions listed below (by amendment, merger, consolidation
or otherwise) without the written consent of Battery and PAR. Notwithstanding the foregoing: (1) in the event that Battery meets
the Threshold Amount, Battery&rsquo;s consent is not required pursuant to this Section 4.2(a), however, PAR&rsquo;s consent is
still required; and (2) in the event that PAR meets the Threshold Amount, PAR&rsquo;s consent is not required pursuant to this
Section 4.2(a), however Battery&rsquo;s consent is still required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;alter
or change the rights, preferences or privileges of the Put Option; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;liquidate,
dissolve or wind-up the business and affairs of the Company or consent to any of the foregoing; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company agrees that it shall not approve of or give effect to any of the actions listed below (by amendment, merger, consolidation
or otherwise) without the written consent of Battery and either PAR or Harris &amp; Harris. Notwithstanding the foregoing: (1)
in the event that Battery meets the Threshold Amount, Battery&rsquo;s consent is not required pursuant to this Section 4.2(b),
however the consent of either PAR or Harris &amp; Harris is still required; (2) in the event that PAR meets the Threshold Amount,
PAR&rsquo;s consent is not required pursuant to this Section 4.2(b), however the consent of Battery and Harris &amp; Harris is
still required; and (3) in the event that Harris &amp; Harris has sold equal to or greater than twenty-five percent (25%) of the
Shares it purchases on the Closing Date, the consent of Harris &amp; Harris is not required pursuant to this Section 4.2(b), however
the consent of Battery and PAR is still required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;purchase,
redeem or otherwise acquire any of (A) the Company&rsquo;s equity securities (including warrants, options and other rights to acquire
equity securities) or (B) the Securities, other than (1) a repurchase by the Company at the lower of cost or the fair market value
pursuant to existing agreements, (2) the purchase of capital stock from certain stockholders approved by each of the Investors,
(3) pursuant to an exercise of the Put Right or the put rights granted under the Other Securities Purchase Agreements or (4) the
contemplated option exchange disclosed in the disclosure schedules to the 2015 Purchase Agreement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;merge
or consolidate with another corporation or entity in which the holders of the Company&rsquo;s voting equity securities immediately
prior to the transaction own, directly or indirectly, fifty percent (50%) or less of the voting securities of the surviving corporation
unless (A) the consideration for the merger or consolidation is in the form of a cash offer or marketable securities that are registered,
saleable and listed on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock
Exchange and (B) the purchase price per share is equal to or greater than three hundred and seventy-five percent (375%) of the
Per Share Price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Board
Representation.</U> The Company shall be obligated to present one nominee nominated by each of Battery (the &ldquo;<U>Battery Member</U>&rdquo;)
and PAR (the &ldquo;<U>PAR Member</U>&rdquo;) to become a member of the Company&rsquo;s Board for election by the Company&rsquo;s
stockholders; <I>provided, however, </I>that the Company shall no longer be obligated to nominate the Battery Member in the event
that Battery has sold or no longer holds the Threshold Amount with respect to Battery and the Company shall no longer be obligated
to nominate the PAR Member in the event that PAR has sold or no longer holds the Threshold Amount with respect to PAR. Battery&rsquo;s
right to nominate the Battery Member for election to the Company&rsquo;s Board above is cumulative with its existing right to nominate
a person for election to the Company&rsquo;s Board pursuant to the Amended and Restated 2011 Purchase Agreement; e.g., Battery
shall have a right to nominate only one person for election to the Company&rsquo;s Board. Upon the election of each of the Battery
Member and the PAR Member to the Company&rsquo;s Board, the Company shall execute an indemnification agreement with the Battery
Member and the PAR Member, in a form satisfactory to Battery and PAR, as applicable and shall include the Battery Member and the
PAR Member on the Company&rsquo;s director and officer insurance policy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Participation Rights.</U> Each Investor who had participation rights pursuant to the Original 2013 Securities Purchase Agreement
has declined to exercise such Investor&rsquo;s participation right set forth in such Original 2013 Securities Purchase Agreement
with respect to either the Company&rsquo;s issuance of convertible promissory notes on December 1, 2014 or the transaction contemplated
by the 2015 Purchase Agreement and thus no longer has any participation right with respect to either the transaction contemplated
by the 2015 Purchase Agreement or future financings of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Common Stock.</U> The Company shall, on the Closing Date, have authorized and reserved for issuance to the Investors free from
any preemptive rights, and shall keep available at all times during which any Warrants are outstanding, a number of shares of Common
Stock (the <U>&ldquo;Reserved Amount&rdquo;)</U> that, on the Closing Date, is not less than one hundred
percent (100%) of the number of Warrant Shares issuable upon exercise of all of the Warrants issued at the Closing, without regard
to any limitation or restriction on such conversion or exercise that may be set forth in the Warrants. The Reserved Amount shall
be allocated in accordance with each Investor&rsquo;s Pro Rata Share. In the event that an Investor shall sell or otherwise transfer
any of such Investor&rsquo;s Warrants, each transferee shall be allocated a <I>pro rata </I>portion of such transferor&rsquo;s
Reserved Amount. Any portion of the Reserved Amount allocated to any Investor or other Person which no longer holds any Warrants
shall be reallocated to the remaining Investors <I>pro rata </I>based on the number of 2013 Registrable Securities held by such
Investors at such time. In the event that the Reserved Amount is insufficient at any time to cover one hundred percent 100% of
the 2013 Registrable Securities issuable upon the exercise of the Warrants (without regard to any restriction on such conversion
or exercise), the Company shall take such action (including without limitation holding a meeting of its stockholders) to increase
the Reserved Amount to cover 100% of the 2013 Registrable Securities issuable upon such conversion and exercise, such increase
to be effective not later than the thirtieth (30th) day (or sixtieth (60th) day, in the event stockholder approval is required
for such increase) following the Company&rsquo;s receipt of written notice of such deficiency. While any Warrants are outstanding,
the Company shall not reduce the Reserved Amount without obtaining the prior written consent of each Investor then holding Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Use
of Proceeds.</U> The Company shall use the proceeds from the sale of the Shares and Warrants for general business purposes; <I>provided,
</I>that the Company shall not use any of such proceeds (i) to pay any dividend or make any distribution on any of its securities,
or (ii) to repay any loan made to or incurred by any Key Employee or any other officer or director or Affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Use
of Investor Name.</U> Except as may be required by applicable law and/or this Agreement, the Company shall not use, directly or
indirectly, any Investor&rsquo;s name or the name of any of its Affiliates in any advertisement, announcement, press release or
other similar communication unless it has received the prior written consent of any Investor for the specific use contemplated
or as otherwise required by applicable law or regulation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company&rsquo;s
Instructions to Transfer Agent.</U> The Company shall cause its transfer agent to remove the restrictive legend set forth in Section
2.5 from certificates evidencing the Shares and Warrant Shares (i) in connection with any sale of such Shares or Warrant Shares
pursuant to a registration statement (including a Registration Statement) covering the resale of such security that is effective
under the Securities Act, (ii) in connection with any sale of such Shares or Warrant Shares pursuant to Rule 144, or (iii) if such
legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements
issued by the staff of the Commission), as set forth below. If all or any part of a Warrant is exercised in connection with an
immediate resale of the exercised Warrant Shares pursuant to an effective registration statement, or in connection with an immediate
resale of the exercised Warrant Shares pursuant to Rule 144, the Company shall cause its transfer agent to remove the restrictive
legend from certificates issued representing the exercised Warrant Shares, as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall issue an instruction letter to its transfer agent to remove the restrictive legend in connection with any sale of
the Shares or Warrant Shares pursuant to a registration statement, and shall cause its counsel, if required by the transfer agent,
to issue a legal opinion authorizing the removal of restrictive legend in connection with a sale of the Shares or Warrant Shares
pursuant Rule 144, provided that the relevant Investor shall have delivered to the Company, its counsel and its transfer agent
a certification of such facts as the Company and its counsel may reasonably require in connection with providing such instruction
letter or legal opinion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall instruct its transfer agent to remove the restrictive legend as permitted by this Section 4.8 promptly after delivery
by the Investor to the Company or its transfer agent of the certificate representing the Shares or Warrant Shares being sold by
the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company may not make any notation on its records or give instructions to its transfer agent that enlarge the restrictions on transfer
set forth in this Section 4.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certificates
for Shares or Warrant Shares subject to legend removal hereunder shall be transmitted by the Company&rsquo;s transfer agent to
the purchaser of such Shares or Warrant Shares by crediting the account of such purchaser&rsquo;s prime broker with the Depository
Trust Company System, if so directed by the selling Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Limitations
on Disposition.</U> No Investor shall sell, transfer, assign or dispose of any Securities, unless:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;there
is then in effect an effective registration statement under the Securities Act covering such proposed disposition and such disposition
is made in accordance with such registration statement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;such
Investor has notified the Company in writing of any such disposition, and furnished the Company with an opinion of counsel, reasonably
satisfactory to the Company, that such disposition will not require registration of such Securities under the Securities Act; <I>provided,
however, </I>that no such opinion of counsel will be required (A) if the sale, transfer or assignment complies with federal and
state securities laws and is made to a fund or other institutional investor that is an Affiliate of such Investor and which is
also an &ldquo;accredited investor&rdquo; as that term is defined in Rule 501 of Regulation D; <I>provided, </I>that such Affiliate
provides the Company with customary accredited investor and investment representations (comparable with those set forth in Section
2.2 hereof), and agrees to be bound by the terms and conditions of this Agreement, (B) if the sale, transfer or assignment is made
pursuant to Rule 144 and such Investor has complied with the obligations set forth in Section 4.8(a) above or (C) in connection
with a <I>bona fide </I>pledge or hypothecation of any Securities under a margin arrangement with a broker-dealer or other financial
institution or the sale of any such Securities by such broker-dealer or other financial institution following such Investor&rsquo;s
default under such margin arrangement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure
of Non-public Information.</U> The Company agrees that it will not at any time following the Execution Date disclose material non-public
information to any Investor without first obtaining such Investor&rsquo;s written consent to such disclosure, except to the extent
required by any Transaction Documents. For the avoidance of doubt, any information provided to the Battery Member or PAR Member
in its capacity as a member of the Board of Directors shall not be deemed a disclosure of information pursuant to this Section.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Listing.</U>
Provided the Company is eligible for trading or listing, as the case may be, the Company (i) has, or promptly following the Closing
shall, use its best efforts to include all of the Warrant Shares
issuable upon exercise of the Warrants (without regard to any limitation on such exercise) for trading on the OTCBB, and (ii) shall
use its best efforts to attain designation and quotation, or listing, of the Common Stock and Warrant Shares on the Nasdaq Capital
Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange for a minimum of five (5) years
following the Closing Date or, in the event the Company is unable to attain such designation and quotation or listing on the Nasdaq
Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market or the New York Stock Exchange, to maintain the trading
of the Common Stock on the OTCBB or any successor interdealer trading system for a minimum of five (5) years following the Closing
Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of Investors.</U> The Company will indemnify and hold each Investor and its directors, managers, officers, shareholders, members,
partners, employees and agents (each, an <U>&ldquo;Investor Party&rdquo;)</U> harmless from any and all losses, liabilities, obligations,
claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable
attorneys&rsquo; fees and costs of investigation that any such Investor Party may suffer or incur as a result of or relating to
(a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the
other Transaction Documents or (b) any action instituted against an Investor, or any of them or their respective Affiliates, by
any stockholder of the Company who is not an Affiliate of such Investor, with respect to any of the transactions contemplated by
the Transaction Documents (unless such action is based upon a breach of such Investor&rsquo;s representations, warranties or covenants
under the Transaction Documents or any agreements or understandings such Investor may have with any such stockholder or any violations
by such Investor of state or federal securities laws or any conduct by such Investor which constitutes fraud, gross negligence,
willful misconduct or malfeasance). If any action shall be brought against any Investor Party in respect of which indemnity may
be sought pursuant to this Agreement, such Investor Party shall promptly notify the Company in writing, and the Company shall have
the right to assume the defense thereof with counsel of its own choosing. Any Investor Party shall have the right to employ separate
counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Investor Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in
writing, (ii) the Company has failed after a reasonable period of time following such Investor Party&rsquo;s written request that
it do so, to assume such defense and to employ counsel or (iii) in such action there is, in the reasonable opinion of such separate
counsel, a material conflict on any material issue between the position of the Company and the position of such Investor Party.
The Company will not be liable to any Investor Party under this Agreement (i) for any settlement by an Investor Party effected
without the Company&rsquo;s prior written consent, which shall not be unreasonably withheld or delayed; or (ii) to the extent,
but only to the extent that a loss, claim, damage or liability is attributable to such Investor Party&rsquo;s wrongful actions
or omissions, or gross negligence or to such Investor Party&rsquo;s breach of any of the representations, warranties, covenants
or agreements made by such Investor in this Agreement or in the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">4.13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
of the Company.</U> Each Investor, severally and not jointly and only to the extent of such Investor&rsquo;s Purchase Price, will
indemnify and hold the Company and its directors, manager, officers, shareholders, employees and agents (each, a <U>&ldquo;Company
Party&rdquo;</U>) harmless from any and all losses, liabilities, obligations, claims, contingencies, damages, costs and expenses,
including all judgments, amounts paid in settlements, court costs and reasonable
attorneys&rsquo; fees and costs of investigation that any such Company Party may suffer or incur as a result of or relating to
(a) any breach of any of the representations, warranties, covenants or agreements made by or on behalf of such Investor in this
Agreement or in the other Transaction Documents or (b) any violations by such Investor of state or federal securities laws or any
conduct by such Investor which constitutes fraud, gross negligence, willful misconduct or malfeasance. If any action shall be brought
against any Company Party in respect of which indemnity may be sought pursuant to this Agreement, such Company Party shall promptly
notify the Investor in writing, and the Investor shall have the right to assume the defense thereof with counsel of its own choosing.
Any Company Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but
the fees and expenses of such counsel shall be at the expense of such Company Party except to the extent that (i) the employment
thereof has been specifically authorized by such Investor in writing, (ii) the Investor has failed after a reasonable period of
time following such Company Party&rsquo;s written request that it do so, to assume such defense and to employ counsel or (iii)
in such action there is, in the reasonable opinion of such separate counsel, a material conflict on any material issue between
the position of such Investor and the position of such Company Party. Such Investor will not be liable to any Company Party under
this Agreement for any settlement by a Company Party effected without such Investor&rsquo;s prior written consent, which shall
not be unreasonably withheld or delayed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Conditions
to Closing.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">5.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Investors&rsquo; Obligations at the Closing.</U> Each Investor&rsquo;s obligations to effect the Closing, including without
limitation its obligation to purchase Shares and Warrants at the Closing, are conditioned upon the fulfillment (or waiver by such
Investor in its sole and absolute discretion) of each of the following events as of the Closing Date, and the Company shall use
commercially reasonable efforts to cause each of such conditions to be satisfied:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties of the Company set forth in this Agreement and in the other Transaction Documents shall be true
and correct in all material respects as of such date as if made on such date (except that to the extent that any such representation
or warranty relates to a particular date, such representation or warranty shall be true and correct in all material respects as
of that particular date);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall have complied with or performed in all material respects all of the agreements, obligations and conditions set forth
in this Agreement that are required to be complied with or performed by the Company on or before the Closing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
Company shall have delivered to such Investor a certificate, signed by the Chief Executive Officer and Chief Financial Officer
of the Company, certifying that the conditions specified in Section 5.1(a), 5.1(b), 5.1(i), 5.1(j), 5.1(k) and 5.1(l) have been
fulfilled as of the Closing, it being understood that such Investor
may rely on such certificate as though it were a representation and warranty of the Company made herein;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to such Investor an opinion of counsel for the Company, dated as of the Closing Date, in form and
substance reasonably satisfactory to such Investor;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to the Escrow Agent the duly executed Warrant being purchased by such Investor and the duly executed
Transfer Agent Instruction Letter;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have executed and delivered to the Investor the Amended and Restated Registration Rights Agreement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have delivered to such Investor a certificate, signed by the Secretary or an Assistant Secretary of the Company,
attaching (i) the charter and By-Laws of the Company, and (ii) resolutions passed by its Board of Directors to authorize the transactions
contemplated hereby and by the other Transaction Documents, and certifying that such documents are true and complete copies of
the originals and that such resolutions have not been amended or superseded, it being understood that such Investor may rely on
such certificate as a representation and warranty of the Company made herein;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have obtained the written agreement of each Specified Employee of the Company to refrain from selling shares of Common
Stock for the period specified in, and in accordance with, Section 4.1(k) hereof;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">there
shall have occurred no material adverse change in the Company&rsquo;s consolidated business or financial condition since the date
of the Company&rsquo;s most recent financial statements contained in the Disclosure Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Common Stock shall be traded on the OTCBB or listed on the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select
Market or the New York Stock Exchange;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have authorized and reserved for issuance the aggregate number of shares of Common Stock issuable upon exercise of
all of the Warrants to be issued at the Closing (such number to be determined without regard to any restriction on such exercise);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">there
shall be no injunction, restraining order or decree of any nature of any court or Government Authority of competent jurisdiction
that is in effect that restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction
Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have waived any applicable anti-takeover measures under Delaware law or the Company&rsquo;s charter documents that
may be triggered by the actions set forth in the Transaction Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company and the Investors shall have made filings, if any, required by the Hart-Scott-Rodino Anti-Trust Improvements Act, as amended;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company shall have executed the Escrow Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">5.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
to Company&rsquo;s Obligations at the Closing.</U> The Company&rsquo;s obligations to effect the Closing with each Investor are
conditioned upon the fulfillment (or waiver by the Company in its sole and absolute discretion) of each of the following events
as of the Closing Date:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
representations and warranties of such Investor set forth in this Agreement and in the other Transaction Documents shall be true
and correct in all material respects as of such date as if made on such date (except that to the extent that any such representation
or warranty relates to a particular date, such representation or warranty shall be true and correct in all material respects as
of that date);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have complied with or performed all of the agreements, obligations and conditions set forth in this Agreement that
are required to be complied with or performed by such Investor on or before the Closing;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">there
shall be no injunction, restraining order or decree of any nature of any court or Government Authority of competent jurisdiction
that is in effect that restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction
Documents;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have executed each Transaction Document to which it is a party and shall have delivered the same to the Company;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.05in; text-align: justify; text-indent: 1.45in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
Investor shall have tendered to the Escrow Agent the Purchase Price for the Shares and the Warrant being purchased by it at the
Closing by wire transfer of immediately available funds.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="text-transform: uppercase">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Miscellaneous.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival;
Severability.</U> The representations, warranties, covenants and indemnities made by the parties herein and in the other Transaction
Documents shall survive the Closing notwithstanding any due diligence investigation made by or on behalf of the party seeking to
rely thereon. In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision; <I>provided </I>that
in such case the parties shall negotiate in good faith to replace such provision with a new provision which is not illegal, unenforceable
or void, as long as such new provision does not materially change the economic benefits of this Agreement to the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Successors
and Assigns.</U> The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors
and permitted assigns of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other
than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under
or by reason of this Agreement, except as expressly provided in this Agreement. After the Closing, the Investors may assign their
respective rights and obligations hereunder, in connection with any private sale or transfer of the Shares or Warrants in accordance
with the terms hereof, as long as, as a condition precedent to such transfer, the transferee executes an acknowledgment agreeing
to be bound by the applicable provisions of this Agreement, in which case the term &ldquo;Investor&rdquo; shall be deemed to refer
to such transferee as though such transferee were an original signatory hereto. The Company may not assign its rights or obligations
under this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Reliance.</U> Each party acknowledges that (i) it has such knowledge in business and financial matters as to be fully capable of
evaluating this Agreement, the other Transaction Documents, and the transactions contemplated hereby and thereby, (ii) it is not
relying on any advice or representation or warranty of any other party in connection with entering into this Agreement, the other
Transaction Documents, or such transactions (other than the representations and warranties made in this Agreement or the other
Transaction Documents), (iii) it has not received from any party any assurance or guarantee as to the merits (whether legal, regulatory,
tax, financial or otherwise) of entering into this Agreement or the other Transaction Documents or the performance of its obligations
hereunder and thereunder, and (iv) it has consulted with its own legal, regulatory, tax, business, investment, financial and accounting
advisors to the extent that it has deemed necessary, and has entered into this Agreement and the other Transaction Documents based
on its own independent judgment and on the advice of its advisors as it has deemed necessary, and not on any view (whether written
or oral) expressed by any party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Independent
Nature of Investors&rsquo; Obligations and Rights.</U> The obligations of each Investor hereunder are several and not joint with
the obligations of the other Investors hereunder, and no Investor shall be responsible in any way for the performance of the obligations
of any other Investor hereunder. The Company acknowledges and agrees that nothing contained herein or in any other agreement or
document delivered at Closing, and no action taken by any Investor pursuant hereto or thereto, shall be deemed to constitute the
Investors as a partnership, an association, a joint venture or any other kind of entity, or a &ldquo;group&rdquo; as described
in Section 13(d) of the Exchange Act, or create a presumption that the Investors are in any way acting in concert with respect
to such obligations or the transactions contemplated by this Agreement. Each Investor has been represented by its own separate
counsel in connection with the transactions contemplated hereby, shall be entitled to protect and enforce its rights, including
without limitation rights arising out of this Agreement or the other Transaction Documents, individually, and shall not be required
to be join any other Investor as an additional party in any proceeding for such purpose.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Injunctive
Relief.</U> The parties hereto acknowledge and agree that a breach by either of their obligations hereunder will cause irreparable
harm the other party and that the remedy or remedies at law for any such breach will be inadequate and agrees, in the event of
any such breach, in addition to all other available remedies, the non-breaching party shall be entitled to an injunction restraining
any breach and requiring immediate and specific performance of such obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investors&rsquo;
Trading Activity.</U> The Company acknowledges that, following the filing of the Current Report on Form 8-K described in paragraph
4.1 above, each Investor shall have the right to purchase or sell, long or short, Common Stock and instruments or contracts whose
value is derived from the market value of the Common Stock, and that sales of or certain derivative transactions relating to the
Common Stock may have a negative impact on the market price of the Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law; Jurisdiction.</U> This Agreement shall be governed by and construed under the laws of the State of New York applicable to
contracts made and to be performed entirely within the State of New York. Each party hereby irrevocably submits to the non-exclusive
jurisdiction of the state and federal courts sitting in the City and County of New York for the adjudication of any dispute hereunder
or in connection herewith or with any transaction contemplated hereby and hereby irrevocably waives, and agrees not to assert in
any such suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.
Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action
or proceeding by mailing a copy thereof to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be
deemed to limit in any way any right to serve process in any manner permitted by law. In any action, suit or proceeding in any
jurisdiction brought by any party against any other party, the parties each knowingly and intentionally, to the greatest extent
permitted by applicable law, hereby absolutely, unconditionally, irrevocably and expressly waives forever trial by jury.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts.</U>
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together
shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings.</U>
The headings used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices.</U>
Any notice, demand or request required or permitted to be given by the Company or the Investor pursuant to the terms of this Agreement
shall be in writing and shall be deemed delivered (i) when delivered personally or by verifiable facsimile transmission, unless
such delivery is made on a day that is not a Business Day, in which case such delivery will be deemed to be made on the next succeeding
Business Day, (ii) on the next Business Day after timely delivery to an overnight courier and (iii) on the Business Day actually
received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid), addressed as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 40%; text-align: justify"><font style="font-size: 10pt"><i>If to the Company</i>:</font></td>
    <TD STYLE="width: 60%; text-align: justify"><font style="font-size: 10pt">Joel Ackerman, Chief Executive Officer</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Champions Oncology, Inc.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">One University Plaza</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Suite 307</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Hackensack, NJ 07601</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Tel (201) 808-8400</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Fax (201) 357-5216</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">jackerman@championsoncology.com</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-size: 10pt"><i>with a copy</i></font></td>
    <TD STYLE="text-align: justify">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify"><font style="font-size: 10pt"><i>(which shall not constitute notice)to:</i></font></td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Adam D. So, Esq.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Epstein Becker &amp; Green, P.C.</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">250 Park Avenue</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">New York, NY 10177</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Tel (212) 351-3788</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">Fax (212) 878-8693</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</td>
    <TD STYLE="text-align: justify"><font style="font-size: 10pt">ASo@ebglaw.com </font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">and if to any Investor, to such address for
such Investor as shall appear on the signature page hereof executed by such Investor, or as shall be designated by such Investor
in writing to the Company in accordance with this Section 6.10.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses.</U>
The Company and each Investor shall pay all costs and expenses that it incurs in connection with the negotiation, execution, delivery
and performance of this Agreement or the other Transaction Documents, <I>provided, however, </I>that that the Company shall, at
the Closing, pay up to $50,000 to Battery and $25,000 to PAR in immediately available funds for all reasonable, documented out-of-pocket
expenses (including without limitation reasonable legal fees and expenses) incurred or to be incurred by Battery and PAR, as applicable
in connection with their due diligence investigation of the Company and the negotiation, preparation, execution, delivery and performance
of this Agreement and the other Transaction Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">6.12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement; Amendments. </U> This Agreement and the other Transaction Documents constitute the entire agreement between the parties
with regard to the subject matter hereof and thereof, superseding all prior agreements or understandings, whether written or oral,
between or among the parties. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended except
pursuant to a written instrument executed by the Company and the holders of at least a majority of the Shares and Warrant Shares
into which all of the Warrants then outstanding are exercisable (without regard to any limitation on such exercise), and no provision
hereof may be waived other than by a written instrument signed by the party against whom enforcement of any such waiver is sought.
Any waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><I>[Signature Pages to Follow]</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.9in">IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first-above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">CHAMPIONS ONCOLOGY, INC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 50%">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Chief Executive Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY VENTURES IX, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">General Partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 45%">Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY INVESTMENT PARTNERS, IX, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">Managing Member</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 45%">Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="5">PAR INVESTMENT PARTNERS, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="4">PAR Group, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">General Partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">PAR Capital Management, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">General Partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Arthur Epker, III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%">Name:</TD>
    <TD STYLE="width: 40%">Arthur Epker, III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 60%">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Ronnie Morris</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>SCHEDULE OF INVESTORS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid">Name</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Purchase <BR> Price</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Shares</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Warrants</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 55%; text-align: left">Battery Ventures IX, L.P.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">3,465,350</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">6,930,700</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; text-align: right">693,070</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Battery Investment Partners IX, LLC</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">34,650</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">69,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,930</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">PAR Investment Partners, L.P.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5,000,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Harris &amp; Harris Group, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">200,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">400,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ronnie Morris, M.D.</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">250,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Joel Ackerman</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">250,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Bernard Kaminetsky <BR></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">100,000.00</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">200,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold">TOTAL</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">$</TD><TD STYLE="font-weight: bold; text-align: right">9,300,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">18,600,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">1,860,000</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>v404684_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDMENT NO. 1 TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2011 WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO PURCHASE COMMON STOCK OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 1 (this &ldquo;<U>Amendment</U>&rdquo;)
to the Warrants with the issue date of April 4, 2011 (the &ldquo;<U>Original Warrants</U>&rdquo;), effective as of March 13, 2015,
is between Champions Oncology, Inc. (the &ldquo;<U>Company</U>&rdquo;) and the other parties hereto, who constitute the holders
of Original Warrants exercisable for a majority of the number of shares of Common Stock of the Company into which all of the Original
Warrants outstanding as of the date hereof are exercisable, and is thus binding upon all of the holders of Original Warrants pursuant
to Section 12 of the Original Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the parties hereto wish to amend the
terms of the Original Warrants;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge, the parties agree as follows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
5(c) of each of the Original Warrants is deleted in its entirety and replaced with &ldquo;[<I>Reserved</I>]&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
last sentence of Section 1(a) is amended and restated in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;The &ldquo;<U>Exercise Price</U>&rdquo; for each
Warrant Share purchased by the Holder upon the exercise of this Warrant shall be equal to $0.40, subject to adjustment for the
events specified in Section 5 below.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For purposes of this Amendment, the definition of &ldquo;Exercise
Price&rdquo; in the Original Warrants (before giving effect to the amendment in this Section 2) is referred to as the &ldquo;<U>Original
Exercise Price</U>&rdquo;, and the definition of &ldquo;Exercise Price&rdquo; in the Original Warrants (after giving effect to
the amendment in this Section 2) is referred to as the &ldquo;<U>New Exercise Price</U>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
number of shares issuable upon exercise of each of the Original Warrants (as set forth in the Preamble to the Original Warrants)
(the &ldquo;<U>Original Shares Issuable</U>&rdquo;) shall be amended to an amount (the &ldquo;<U>New Shares Issuable</U>&rdquo;)
equal to (x) the Original Exercise Price divided by the New Exercise Price, multiplied by (y) the Original Shares Issuable. For
avoidance of doubt, the New Shares Issuable shall be subject to all limitations, conditions, and adjustments as set forth in the
Original Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
definition of &ldquo;Expiration Date&rdquo; (as set forth in the Preamble to the Original Warrants) of each of the Original Warrants
is amended and restated in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;&hellip;6:00 p.m., eastern time, on April 4, 2017
(or, if such date is not a Business Day, on the Business Day immediately following such date) (the &ldquo;<U>Expiration Date</U>&rdquo;).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other provisions of the Original Warrants shall remain effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment shall for all purposes be governed by and construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed entirely within the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument. This Amendment may be executed and delivered by facsimile transmission and/or pdf email
transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned have executed
this Amendment as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">CHAMPIONS ONCOLOGY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 48%">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY VENTURES IX, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC, its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY INVESTMENT PARTNERS IX, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC, its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 42%">Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>v404684_ex10-6.htm
<DESCRIPTION>EXHIBIT 10.6
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.6</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AMENDMENT NO. 1 TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2013 WARRANTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TO PURCHASE COMMON STOCK OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CHAMPIONS ONCOLOGY, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">This Amendment No. 1 (this &ldquo;<U>Amendment</U>&rdquo;)
to the Warrants with the issue date of January 28, 2013 (the &ldquo;<U>Original Warrants</U>&rdquo;), effective as of March 13,
2015, is between Champions Oncology, Inc. (the &ldquo;<U>Company</U>&rdquo;) and the other parties hereto, who constitute the holders
of Original Warrants exercisable for a majority of the number of shares of Common Stock of the Company into which all of the Original
Warrants outstanding as of the date hereof are exercisable, and is thus binding upon all of the holders of Original Warrants pursuant
to Section 12 of the Original Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">WHEREAS, the parties hereto wish to amend the
terms of the Original Warrants;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge, the parties agree as follows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
5(c) of each of the Original Warrants is deleted in its entirety and replaced with &ldquo;[<I>Reserved</I>]&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
last sentence of Section 1(a) is amended and restated in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;The &ldquo;<U>Exercise Price</U>&rdquo; for each
Warrant Share purchased by the Holder upon the exercise of this Warrant shall be equal to $0.40, subject to adjustment for the
events specified in Section 5 below.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For purposes of this Amendment, the definition of &ldquo;Exercise
Price&rdquo; in the Original Warrants (before giving effect to the amendment in this Section 2) is referred to as the &ldquo;<U>Original
Exercise Price</U>&rdquo;, and the definition of &ldquo;Exercise Price&rdquo; in the Original Warrants (after giving effect to
the amendment in this Section 2) is referred to as the &ldquo;<U>New Exercise Price</U>&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
number of shares issuable upon exercise of each of the Original Warrants (as set forth in the Preamble to the Original Warrants)
(the &ldquo;<U>Original Shares Issuable</U>&rdquo;) shall be amended to an amount (the &ldquo;<U>New Shares Issuable</U>&rdquo;)
equal to (x) the Original Exercise Price divided by the New Exercise Price, multiplied by (y) the Original Shares Issuable. For
avoidance of doubt, the New Shares Issuable shall be subject to all limitations, conditions, and adjustments as set forth in the
Original Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
definition of &ldquo;Expiration Date&rdquo; (as set forth in the Preamble to the Original Warrants) of each of the Original Warrants
is amended and restated in its entirety as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&ldquo;&hellip;6:00 p.m., eastern time, on January 28,
2019 (or, if such date is not a Business Day, on the Business Day immediately following such date) (the &ldquo;<U>Expiration Date</U>&rdquo;).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
other provisions of the Original Warrants shall remain effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment shall for all purposes be governed by and construed in accordance with the laws of the State of New York applicable to
contracts made and to be performed entirely within the State of New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Amendment may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument. This Amendment may be executed and delivered by facsimile transmission and/or pdf email
transmission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">IN WITNESS WHEREOF, the undersigned have executed
this Amendment as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">CHAMPIONS ONCOLOGY, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 48%">Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 2.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY VENTURES IX, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC, its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 42%">Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="4">BATTERY INVESTMENT PARTNERS IX, LLC</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">Battery Partners IX, LLC, its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 42%">Scott Tobin</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Member Manager</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 3in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="5">PAR INVESTMENT PARTNERS, L.P.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="4">PAR Group, L.P., its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="3">PAR Capital Management, Inc., its general partner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Arthur Epker III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 6%">Name:</TD>
    <TD STYLE="width: 36%">Arthur Epker III</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Vice President</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 60%; border-bottom: Black 1pt solid">/s/ Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Joel Ackerman</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Ronnie Morris</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Ronnie Morris</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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