<SEC-DOCUMENT>0001104659-20-098416.txt : 20200825
<SEC-HEADER>0001104659-20-098416.hdr.sgml : 20200825
<ACCEPTANCE-DATETIME>20200825171642
ACCESSION NUMBER:		0001104659-20-098416
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200821
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200825
DATE AS OF CHANGE:		20200825

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRUS ENERGY CORP
		CENTRAL INDEX KEY:			0001065059
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		IRS NUMBER:				522107911
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14287
		FILM NUMBER:		201133235

	BUSINESS ADDRESS:	
		STREET 1:		6901 ROCKLEDGE DR
		STREET 2:		SUITE 800
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817
		BUSINESS PHONE:		3015643200

	MAIL ADDRESS:	
		STREET 1:		6901 ROCKLEDGE DR
		STREET 2:		SUITE 800
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USEC INC
		DATE OF NAME CHANGE:	19980629
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2029400d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
August 25, 2020 (August 21, 2020)</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom-width: 0in; border-bottom-color: Black"><B>Centrus
Energy Corp.</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center; width: 34%"><FONT STYLE="font-size: 10pt"><B>1-14287</B></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center; width: 33%"><FONT STYLE="font-size: 10pt"><B>52-2107911</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(State or other jurisdiction of incorporation)</I></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(Commission File Number)</I></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><I>(I.R.S. Employer Identification No.)</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>6901 Rockledge Drive, Suite 800</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Bethesda, MD 20817</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Registrant&rsquo;s telephone number,
including area code: (301) 564-3200</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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: 0pt 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="text-indent: 0; padding: 0; font-size: 10pt; width: 0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: bottom">
    <TD STYLE="padding: 0; font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt"><U>Title of Each Class</U></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center; width: 20%"><FONT STYLE="font-size: 10pt"><U>Trading Symbol</U></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center; width: 40%"><FONT STYLE="font-size: 10pt"><U>Name of Each Exchange on Which Registered</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Class A Common Stock, par value $0.10 per share</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">LEU</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">NYSE American</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (&sect;240.12b-2 of this chapter).&#9;&#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Emerging Growth Company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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

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

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

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">On August 21, 2020, Centrus Energy Corp.
(the &ldquo;Company&rdquo;) entered into an underwriting agreement (the &ldquo;Underwriting Agreement&rdquo;) with Roth Capital
Partners, LLC acting as sole book-running manager and as representative of the several underwriters named therein (collectively,
the &ldquo;Underwriters&rdquo;), relating to the offer and sale (the &ldquo;Offering&rdquo;) of 2,350,000 shares of the Company&rsquo;s
Class A common stock, par value $0.10 per share (the &ldquo;Common Stock&rdquo;). The price to the public in this Offering was
$10.00 per share of Common Stock. Under the terms of the Underwriting Agreement, the Company has granted the Underwriters an option,
exercisable for 30 days, to purchase up to an additional 352,500 shares. Upon closing of the Offering, the total number of issued
and outstanding shares of the Company was approximately 11,133,189.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Company filed a shelf registration
statement on Form S-3 (Registration Statement No. 333-239242) with the Securities and Exchange Commission (&ldquo;SEC&rdquo;) on
June 17, 2020, which was amended on July 31, 2020 and became effective on August 5, 2020 (collectively, the &ldquo;Registration
Statement&rdquo;). The Offering was made pursuant to the Registration Statement, as supplemented by a preliminary prospectus supplement
filed with the SEC on August 17, 2020, a preliminary prospectus supplement filed with the SEC on August 20, 2020, and a final prospectus
supplement filed with the SEC on August 21, 2020.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Offering closed on August 25, 2020.
The net proceeds to the Company from this Offering were approximately $21.5 million, after deducting the underwriting discount
and estimated offering expenses. The Company retains broad discretion over the use the net proceeds from this offering. Unless
otherwise specified in the Registration Statement, the Company currently intends to use the net proceeds from this Offering for
general working capital purposes, to invest in technology development and to repay outstanding debt or retire shares of its Series
B Senior Preferred Stock, including shares of Series B Senior Preferred Stock of existing stockholders who have indicated interest
in purchasing shares of Class A Common Stock in this Offering.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The Underwriting Agreement contained customary
representations, warranties, covenants and agreements by the Company, indemnification obligations of the Company and the Underwriters,
including for liabilities under the Securities Act of 1933, as amended, other obligations of the parties and termination provisions.
The representations, warranties and covenants contained in the Underwriting Agreement were made only for purposes of such agreement
and as of specific dates, were solely for the benefit of the parties to such agreement, and may be subject to limitations agreed
upon by the contracting parties. The Company&rsquo;s directors and named executive officers have agreed not to sell or transfer
any shares of Common Stock for 90 days, and the Company has agreed not to sell or transfer any shares of Common Stock for 90 days,
in each case, after August 21, 2020 without first obtaining the written consent of Roth Capital Partners, LLC, subject to certain
exceptions as described in the prospectus supplement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">The above description of the Underwriting
Agreement does not purport to be complete and is qualified in its entirety by reference to the Underwriting Agreement, which is
attached hereto as Exhibit 1.1.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">A copy of the opinion of O&rsquo;Melveny
&amp; Myers related to the legality of the Common Stock is attached hereto as Exhibit 5.1.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left-width: 0in; border-left-color: Black"><FONT STYLE="background-color: white">(d)
Exhibits</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; border-left-width: 0in; border-left-color: Black"><FONT STYLE="background-color: white">&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: bottom">
    <TD STYLE="text-indent: 0; border-bottom: black 1pt solid; padding: 0; font-size: 10pt; text-align: center; width: 0.75in"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; width: 0.25in">&nbsp;</TD>
    <TD STYLE="text-indent: 0; border-bottom: black 1pt solid; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD>
    </TR>
<TR>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt; text-align: center"><A HREF="tm2029400d1_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt"><A HREF="tm2029400d1_ex1-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Underwriting Agreement, dated August 21, 2020, by and between the Company and Roth Capital Partners, LLC.</FONT></A></TD>
    </TR>
<TR>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt; text-align: center"><A HREF="tm2029400d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt"><A HREF="tm2029400d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Opinion of O&rsquo;Melveny &amp; Myers.</FONT></A></TD>
    </TR>
<TR>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt; text-align: center"><A HREF="tm2029400d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt"><A HREF="tm2029400d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Consent of O&rsquo;Melveny &amp; Myers (included in Exhibit 5.1 hereto).</FONT></A></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, 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: 0pt 0">&nbsp;&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="text-indent: 0; vertical-align: top; width: 62%; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0; width: 3%">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0; font-size: 10pt; width: 32%"><FONT STYLE="font-size: 10pt"><B>Centrus Energy Corp.</B></FONT></TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0; width: 3%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Date: August 25, 2020</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="text-indent: 0; border-bottom: black 1pt solid; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">/s/ Philip O. Strawbridge</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; vertical-align: bottom; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Philip O. Strawbridge</FONT></TD>
    <TD STYLE="text-indent: 0; vertical-align: top; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Senior Vice President, Chief Financial Officer,</FONT></TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0">&nbsp;</TD>
    <TD STYLE="text-indent: 0; padding: 0; font-size: 10pt"><FONT STYLE="font-size: 10pt">Chief Administrative Officer and Treasurer</FONT></TD>
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<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2029400d1_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 1.1</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2,350,000 Shares of Class A Common Stock</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">August 21, 2020</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Roth Capital Partners, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>As the Representative of the</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Several Underwriters Named on Schedule
I hereto</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">c/o Roth Capital Partners, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">888 San Clemente Drive, Suite 400</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Newport Beach, CA 92660</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Centrus Energy Corp.,
a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), proposes, subject to the terms and conditions stated herein, to issue
and sell to the underwriters named in <B>Schedule I</B> hereto (the &ldquo;<U>Underwriters</U>,&rdquo; or each, an &ldquo;<U>Underwriter</U>&rdquo;),
for whom Roth Capital Partners, LLC is acting as the representative (the &ldquo;<U>Representative</U>&rdquo;) an aggregate of 2,350,000
authorized but unissued shares (the &ldquo;<U>Firm Shares</U>&rdquo;) of Class A common stock, par value $0.10 per share, of the
Company (the &ldquo;<U>Common Stock</U>&rdquo;). The Company also proposes to sell to the Underwriters, upon the terms and conditions
set forth in Section 4 hereof, up to an additional 352,500 shares of Common Stock (the &ldquo;<U>Option Shares</U>&rdquo;). The
Firm Shares and the Option Shares are hereinafter collectively referred to as the &ldquo;<U>Shares.</U>&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and the
Underwriters hereby confirm their agreement with respect to the sale of the Shares by the Company to the Underwriters as follows:</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>1. Registration Statement and Prospectus</B><FONT STYLE="font-style: normal">. </FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-style: normal">The
Company has prepared and filed with the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) a registration
statement on Form S-3 (File No. 333-239242) under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;),
and the rules and regulations (the &ldquo;<U>Rules and Regulations</U>&rdquo;) of the Commission thereunder relating to the Shares
and such amendments to such registration statement (including post effective amendments) as may have been required to the date
of this Underwriting Agreement (the &ldquo;<U>Agreement</U>&rdquo;). Such registration statement, as amended (including any post
effective amendments), has been declared effective by the Commission. Such registration statement, together with the amendments
thereto prior to the date of this Agreement, including the information (if any) deemed to be a part of, or incorporated by reference
into, the registration statement at the time of effectiveness of such registration statement pursuant to Item 12 of Form S-3 under
the Securities Act or by or Rule 430B under the Securities Act (&ldquo;<U>Rule 430B Information</U>&rdquo;), is hereinafter referred
to as the &ldquo;<U>Registration Statement</U>&rdquo; and the related base prospectus, dated August 5, 2020, included in the Registration
Statement at the time the Registration Statement first became effective is hereinafter called the &ldquo;<U>Base Prospectus</U>&rdquo;.
If the Company has filed or files an abbreviated registration statement pursuant to Rule 462(b) under the Securities Act (the &ldquo;<U>Rule
462 Registration Statement</U>&rdquo;), then from and after the date and time of filing of the Rule 462(b) Registration Statement,
any reference herein to the term Registration Statement shall include such Rule 462 Registration Statement. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is filing
with the Commission pursuant to Rule 430B and Rule 424 under the Securities Act a final prospectus supplement to the Base Prospectus
relating to the Shares and the offering thereof after the execution and delivery of this Agreement. Such final prospectus supplement
as filed, along with the Base Prospectus, is hereinafter called the &ldquo;<U>Final Prospectus</U>.&rdquo; The term &ldquo;<U>Preliminary
Prospectus</U>&rdquo; means the Base Prospectus, together with any preliminary prospectus supplement to the Base Prospectus that
describes the Shares and the offering thereof, that omitted the Rule 430B Information and that was used prior to the filing of
the Final Prospectus Supplement, filed with the Commission pursuant to Rule&nbsp;424 of the Rules and Regulations, in the form
provided to the Underwriters by the Company for use in connection with the offering of the Shares. Such Final Prospectus and any
Preliminary Prospectus in the form in which they shall be filed with the Commission pursuant to Rule 424(b) under the Securities
Act (including the Base Prospectus as so supplemented) is hereinafter called a &ldquo;<U>Prospectus</U>.&rdquo; For purposes of
this Agreement, all references to the Registration Statement, Rule 462(b) Registration Statement, the Base Prospectus, any Preliminary
Prospectus, the Final Prospectus or any amendment or supplement to any of the foregoing shall be deemed to include the copy filed
with the Commission pursuant to its Electronic Data Gathering, Analysis and Retrieval System or any successor system thereto (&ldquo;EDGAR&rdquo;).
Reference made herein to the Base Prospectus, any Preliminary Prospectus or to the Final Prospectus shall be deemed to include
any documents incorporated by reference therein pursuant to Item 12 of Form S-3 under the Securities Act as of the date of such
prospectus. Any reference to any amendment or supplement to the Registration Statement, the Base Prospectus, any Preliminary Prospectus
or the Final Prospectus shall be deemed to include any document filed under the Securities Exchange Act of 1934, as amended (the
&ldquo;<U>Exchange Act</U>&rdquo;), and which is deemed to be incorporated by reference therein or otherwise deemed by the Rules
and Regulations to be a part thereof. The term &ldquo;<U>Effective Date</U>&rdquo; shall mean each date that the Registration Statement
and any post-effective amendment or amendments thereto became or become effective.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Commission has
not notified the Company of any objection to the use of form of Registration Statement or any post-effective amendment thereto.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>2. Representations and Warranties of the Company Regarding the Offering.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Company represents and warrants to, and agrees with, the several Underwriters as follows:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i) <B>Accurate Disclosure</B>. At the Effective Date, at the date hereof, at the Closing Date, and at each Option Closing Date,
if any, the Registration Statement and any post-effective amendment thereto when filed complied or will comply in all material
respects with the requirements of the Securities Act and the Rules and Regulations. The Registration Statement did not and does
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading. The Time of Sale Disclosure Package (as defined in Section 2(a)(iii)(A)(1) below)
as of 8:00 A.M. (Eastern time) (the &ldquo;<U>Applicable Time</U>&rdquo;), did not and does not contain an untrue statement of
a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading. The Final Prospectus, as amended or supplemented, as of its date, at the time of filing pursuant
to Rule 424(b) under the Securities Act, at the Closing Date and at each Option Closing Date, if any, did not, does not and will
not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations
and warranties set forth in the three immediately preceding sentences shall not apply to statements in or omissions from the Registration
Statement, the Time of Sale Disclosure Package or any Prospectus in reliance upon, and in conformity with, written information
furnished to the Company by any Underwriter or by the Representatives on behalf of any Underwriter specifically for use in the
preparation thereof, which written information is described in Section 7(f). The Registration Statement contains all exhibits and
schedules required to be filed by the Securities Act or the Rules and Regulations. No order preventing or suspending the effectiveness
or use of the Registration Statement or any Prospectus is in effect and no proceedings for such purpose have been instituted or
are pending, or, to the knowledge of the Company, are contemplated or threatened by the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii) <B>Marketing Materials</B>. The Company has not distributed any prospectus or other offering material in connection with
the offering and sale of the Shares other than any Preliminary Prospectus, the Time of Sale Disclosure Package, the Final Prospectus,
and the roadshow or investor presentations delivered to and approved by the Representative for use in connection with the marketing
of the offering of the Shares (the &ldquo;<U>Marketing Materials</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii) <B>Issuer Free Writing Prospectus</B>. (A) When taken together with the rest of the Time of Sale Disclosure Package or the
Final Prospectus,&nbsp; no Issuer Free Writing Prospectus, as of its issue date and at all subsequent times though the completion
of the public offer and sale of Shares, or until any earlier date that the Company notified or notifies the Underwriter as described
in Section 5(a)(iv)(B), has, does or will include (1)&nbsp;any untrue statement of a material fact or omission&nbsp;to state any
material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made,
not misleading, or (2) information that&nbsp;conflicted, conflicts or will conflict with the information contained in the Registration
Statement or the Final Prospectus. The representations and warranties set forth in the immediately preceding sentence shall not
apply to statements in or omissions from the Time of Sale Disclosure Package, the Final Prospectus or any Issuer Free Writing Prospectus
in reliance upon, and in conformity with, written information furnished to the Company by any Underwriter or by the Representatives
on behalf of any Underwriter specifically for use in the preparation thereof, which written information is described in Section
7(f).&nbsp;&nbsp;As used in this paragraph and elsewhere in this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 1in">(1) &ldquo;<U>Time
of Sale Disclosure Package</U>&rdquo; means the Base Prospectus, the Prospectus&nbsp;most recently filed with the Commission before
the time of this Agreement, including any preliminary prospectus supplement deemed to be a part thereof, each Issuer Free Writing
Prospectus, and&nbsp;the description of the transaction provided by the Underwriters included on <B>Schedule II</B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 1in">(2) &ldquo;<U>Issuer
Free Writing Prospectus</U>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule 433 under the Securities
Act, relating to the Shares that (A) is required to be filed with the Commission by the Company, or (B) is exempt from filing pursuant
to Rule 433(d)(5)(i) or (d)(8) under the Securities Act, in each case in the form filed or required to be filed with the Commission
or, if not required to be filed, in the form retained in the Company&rsquo;s records pursuant to Rule 433(g) under the Securities
Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(B) At
the time of filing of the Registration Statement and at the date hereof, the Company was not and is not an &ldquo;ineligible issuer,&rdquo;
as defined in Rule 405 under the Securities Act or an &ldquo;excluded issuer&rdquo; as defined in Rule 164 under the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(C) Each
Issuer Free Writing Prospectus listed on Schedule III satisfied, as of its issue date and at all subsequent times through the Prospectus
Delivery Period (as defined below), all other conditions as may be applicable to its use as set forth in Rules 164 and 433 under
the Securities Act, including any legend, record-keeping or other requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv) <B>Financial Statements</B>. The financial statements of the Company, together with the related notes and schedules, included
or incorporated by reference in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus comply
in all material respects with the applicable requirements of the Securities Act and the Exchange Act, and the rules and regulations
of the Commission thereunder, and fairly present in all material respects the financial condition of the Company as of the dates
indicated and the results of operations and changes in cash flows for the periods therein specified in conformity with U.S. generally
accepted accounting principles (&ldquo;<U>GAAP</U>&rdquo;) consistently applied throughout the periods involved. No other financial
statements or schedules are required under the Securities Act, the Exchange Act, or the Rules and Regulations to be included or
incorporated by reference in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v) <B>Independent Accountants.</B> To the Company&rsquo;s knowledge, PricewaterhouseCoopers LLP, which has expressed its opinion
with respect to the financial statements and schedules, if any, incorporated by reference as a part of the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectus, is an independent public accounting firm with respect to the Company
within the meaning of the Securities Act and the Rules and Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vi) <FONT STYLE="background-color: white"><B>Accounting and Disclosure Controls. </B></FONT>The Company and its subsidiaries
maintain a system of &ldquo;internal control over financial reporting&rdquo; (as defined under Rules 13a-15 and 15d-15 under the
Exchange Act) that have been designed by, or under the supervision of, their respective principal executive and principal financial
officers, or persons performing similar functions, to provide reasonable assurance that (i) transactions are executed in accordance
with management&rsquo;s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP and to maintain asset accountability; (iii) access to assets is permitted only in
accordance with management&rsquo;s general or specific authorization; (iv) the recorded accountability for assets is compared with
the existing assets at reasonable intervals and appropriate action is taken with respect to any differences; and (v) the interactive
data in eXtensible Business Reporting Language included or incorporated by references in the Registration Statement, the Time of
Sale Disclosure Package and the Final Prospectus fairly present the information called for in all material respects and are prepared
in accordance with the Commission&rsquo;s rules and guidelines applicable thereto. Since the date of the latest audited financial
statements included in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus, there has been
no change in the Company&rsquo;s internal control over financial reporting that has materially affected, or is reasonably likely
to materially affect, the Company&rsquo;s internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">The Company
maintains disclosure controls and procedures that have been designed to ensure that material information relating to the Company
and any subsidiaries is made known to the Company&rsquo;s principal executive officer and principal financial officer by others
within those entities; and such disclosure controls and procedures are effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vii) <B>Forward-Looking Statements</B>. The Company had a reasonable basis for, and made in good faith, each &ldquo;forward-looking
statement&rdquo; (within the meaning of Section 27A of the Securities Act or Section 21E of the Exchange Act) contained in the
Registration Statement, the Time of Sale Disclosure Package, the Final Prospectus or the Marketing Materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(viii) <B>Statistical and Marketing-Related Data</B>. All statistical or market-related data included in the Registration Statement,
the Time of Sale Disclosure Package or the Final Prospectus, or included in the Marketing Materials, are based on or derived from
sources that the Company reasonably believes to be reliable and accurate, and, to the extent required, the Company has obtained
the necessary consent to the use of such data from such sources.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ix) <B>Trading Market</B>. The Common Stock is registered pursuant to Section 12(b) of the Exchange Act and is approved for
listing on the NYSE American LLC (the &ldquo;<U>NYSE American</U>&rdquo;). There is no action pending by the Company or, to the
Company&rsquo;s knowledge, by the NYSE American to delist the Common Stock from the NYSE American, nor has the Company received
any notification that the NYSE American is contemplating terminating such listing. The Company has filed an application to include
the Shares on the NYSE American when issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(x) <B>Absence of Manipulation</B>. Except for the grant to the Underwriters of the right to purchase the Option Shares, the
Company has not taken, directly or indirectly, any action that is designed to or that has constituted or that would reasonably
be expected to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the
sale or resale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xi) <B>Investment Company Act</B>. The Company is not and, after giving effect to the offering and sale of the Shares and the
application of the net proceeds thereof, will not be an &ldquo;investment company,&rdquo; as such term is defined in the Investment
Company Act of 1940, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>3. Representations and Warranties Regarding the Company. </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Company represents and warrants to, and agrees with, the several Underwriters, as of the date hereof, as of the Closing
Date and as of each Option Closing Date, if any, as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i) <B>Good Standing</B>. Each of the Company and its subsidiaries has been duly organized and is validly existing as a corporation
or other entity in good standing under the laws of its jurisdiction of incorporation. Each of the Company and its subsidiaries
has the power and authority to own its properties and conduct its business as currently being carried on and as described in the
Registration Statement, the Time of Sale Disclosure Package and the Prospectus, and is duly qualified to do business as a foreign
corporation or other entity in good standing in each jurisdiction in which it owns or leases real property or in which the conduct
of its business makes such qualification necessary, except where the failure to so qualify would not have or be reasonably likely
to result in a material adverse effect upon the business, prospects, properties, operations, condition (financial or otherwise)
or results of operations of the Company and its subsidiaries, taken as a whole, or in its ability to perform its obligations under
this Agreement (&ldquo;<U>Material Adverse Effect</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii) <B>Authorization</B>. The Company has the power and authority to enter into this Agreement and to authorize, issue and sell
the Shares as contemplated by this Agreement. This Agreement <FONT STYLE="background-color: white">has</FONT> been duly authorized
by the Company, and when executed and delivered by the Company, and assuming the due authorization, execution and delivery by the
other parties hereto, will constitute the valid, legal and binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as rights to indemnity hereunder may be limited by federal or state securities laws and except
as such enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the rights of creditors
generally and subject to general principles of equity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii) <B>Contracts</B>. The execution, delivery and performance of this Agreement and the consummation of the transactions herein
contemplated will not (A) result in a breach or violation of any of the terms and provisions of, or constitute a default under,
any law, order, rule or regulation to which the Company or any subsidiary is subject, or by which any property or asset of the
Company or any subsidiary is bound or affected, (B) conflict with, result in any violation or breach of, or constitute a default
(or an event that with notice or lapse of time or both would become a default) under, or give to others any right of termination,
amendment, acceleration or cancellation (with or without notice, lapse of time or both) (a &ldquo;<U>Default Acceleration Event</U>&rdquo;)
of, any agreement, lease, credit facility, debt, note, bond, mortgage, indenture or other instrument (the &ldquo;<U>Contracts</U>&rdquo;)
or obligation or other understanding to which the Company or any subsidiary is a party or by which any property or asset of the
Company or any subsidiary is bound or affected, except to the extent that such conflict, default, or Default Acceleration Event
would not, singularly or in the aggregate, be reasonably likely to result in a Material Adverse Effect, or (C) result in a breach
or violation of any of the terms and provisions of, or constitute a default under, the Company&rsquo;s Certificate of Incorporation
or by-laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv) <B>No Violations of Governing Documents</B>. Neither the Company nor any of its subsidiaries is in violation, breach or
default under its certificate of incorporation or by-laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v) <B>Consents</B>. No consents, approvals, orders, authorizations or filings are required on the part of the Company in connection
with the execution, delivery or performance of this Agreement and the issue and sale of the Shares, except (A) the registration
under the Securities Act of the Shares, which has been effected, (B) the necessary filings and approvals from the NYSE American
to list the Shares, (C) such consents, approvals, authorizations, registrations or qualifications as may be required under state
or foreign securities or Blue Sky laws and the rules of the Financial Industry Regulatory Authority, Inc. (&ldquo;<U>FINRA</U>&rdquo;)
in connection with the purchase and distribution of the Shares by the several Underwriters, (D) such consents and approvals as
have been obtained and are in full force and effect, and (E) such consents, approvals, orders, authorizations and filings the failure
of which to make or obtain is not reasonably likely to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vi) <B>Capitalization</B>. The Company has an authorized capitalization as set forth in the Registration Statement, the Time
of Sale Disclosure Package and the Final Prospectus. All of the issued and outstanding shares of capital stock of the Company are
duly authorized and validly issued, fully paid and nonassessable, and have been issued in compliance with all applicable securities
laws, and conform to the description thereof in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus.
All of the issued shares of capital stock of each subsidiary of the Company have been duly and validly authorized and issued, are
fully paid and non-assessable and, except as set forth in the Registration Statement, the Time of Sale Disclosure Package and the
Final Prospectus, are owned directly or indirectly by the Company, free and clear of all liens, encumbrances, equities or claims.
Except for the issuances of options or restricted stock in the ordinary course of business, since the respective dates as of which
information is provided in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectus, the Company
has not entered into or granted any convertible or exchangeable securities, options, warrants, agreements, contracts or other rights
in existence to purchase or acquire from the Company any shares of the capital stock of the Company. The Shares, when issued and
paid for as provided herein, will be duly authorized and validly issued, fully paid and nonassessable, issued in compliance with
all applicable securities laws, and, except for rights pursuant to the Section 382 Rights Agreement between the Company and Computershare
Trust Company, N.A. and Computershare Inc., as rights agent , as amended from time to time, free of preemptive, registration or
similar rights, and will conform to the description of the capital stock of the Company contained in the Registration Statement,
the Time of Sale Disclosure Package and the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vii) <B>Taxes</B>. Each of the Company and its subsidiaries has (a) filed all foreign, federal, state and local tax returns (as
hereinafter defined) required to be filed by them with taxing authorities prior to the date hereof or has properly requested or
duly obtained extensions of time for the filing thereof (except as any such failure to file would not reasonably be expected to
have a Material Adverse Effect) and (b) paid all taxes (as hereinafter defined) shown as due and payable on such returns that were
filed and has paid all taxes imposed on or assessed against the Company or such respective subsidiary other than any which the
Company or any of its Subsidiaries is contesting in good faith or as would not reasonably be expected to have a Material Adverse
Effect. The provisions for taxes payable, if any, shown on the financial statements included or incorporated by reference in the
Registration Statement, <FONT STYLE="background-color: white">the Time of Sale Disclosure Package and the Final Prospectus</FONT>
are sufficient for all accrued and unpaid taxes, whether or not disputed, and for all periods to and including the dates of such
consolidated financial statements. To the knowledge of the Company, no issues have been raised (and are currently pending) by any
taxing authority in connection with any of the returns or taxes asserted as due from the Company or its subsidiaries, and no waivers
of statutes of limitation with respect to the returns or collection of taxes have been given by or requested from the Company or
its subsidiaries, except where such dispute or liability would not reasonably be expected to have a Material Adverse Effect. The
term &ldquo;<U>taxes</U>&rdquo; mean all federal, state, local, foreign, and other net income, gross income, gross receipts, sales,
use, ad valorem, transfer, franchise, profits, license, lease, service, service use, withholding, payroll, employment, excise,
severance, stamp, occupation, premium, property, windfall profits, customs, duties or other taxes, fees, assessments, or charges
of any kind whatever, together with any interest and any penalties, additions to tax, or additional amounts with respect thereto.
The term &ldquo;<U>returns</U>&rdquo; means all returns, declarations, reports, statements, and other documents required to be
filed in respect to taxes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(viii) <B>Material Change</B>. Except as contemplated in the Time of Sale Disclosure Package and in the Final Prospectus, since
the respective dates as of which information is given (including information incorporated by reference) in the Registration Statement,
the Time of Sale Disclosure Package or the Final Prospectus, (a) neither the Company nor any of its subsidiaries has incurred any
material liabilities or obligations, direct or contingent, or entered into any material transactions other than in the ordinary
course of business, (b) the Company has not declared or paid any dividends or made any distribution of any kind with respect to
its capital stock; (c) there has not been any change in the capital stock of the Company or any of its subsidiaries (other than
a change in the number of outstanding shares of Common Stock due to the issuance of shares upon the exercise of outstanding options
or warrants, upon the conversion of outstanding shares of preferred stock or other convertible securities <FONT STYLE="text-underline-style: double"><U>or
the issuance of restricted stock awards or restricted stock units under the Company&rsquo;s existing stock awards plan,</U></FONT>
or any new grants thereof in the ordinary course of business), (d) there has not been any material change in the Company&rsquo;s
long-term or short-term debt (other than as a result of the conversion of convertible securities), and (e) there has not been the
occurrence of any Material Adverse Effect that, in your judgment, makes it impractical or inadvisable to offer or deliver the Shares
on the terms and in the manner contemplated in the Time of Sale Disclosure Package and in the Prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ix) <B>Absence of Proceedings</B>. Except as set forth in the Time of Sale Disclosure Package and in the Final Prospectus, there
is not pending or, to the knowledge of the Company, threatened, any action, suit or proceeding to which the Company or any of its
subsidiaries is a party or of which any property or assets of the Company or any of its subsidiaries is the subject before or by
any court or governmental agency, authority or body, or any arbitrator or mediator, which is reasonably likely to result in a Material
Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(x) <B>Permits</B>. The Company and each of its subsidiaries holds, and is in compliance with, all franchises, grants, authorizations,
licenses, permits, easements, consents, certificates and orders (&ldquo;<U>Permits</U>&rdquo;) of any governmental or self-regulatory
agency, authority or body (including, without limitation, those administered by the U.S. Nuclear Regulatory Commission, the Department
of Energy, and the states of Ohio and Tennessee) required for the conduct of its business as currently conducted as described in
the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus, and all such Permits are in full force
and effect, in each case except where the failure to hold, or comply with any of them, or the failure of any of them to be in full
force and effect, is not reasonably likely to result in a Material Adverse Effect or adversely affect the consummation of the transactions
contemplated by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xi) <B>Good Title</B>. The Company and each of its subsidiaries have good and marketable title to all property (whether real
or personal) described in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus as being owned
by them that are material to the business of the Company, in each case free and clear of all liens, claims, security interests,
other encumbrances or defects, except those that are disclosed in the Registration Statement, the Time of Sale Disclosure Package
and the Final Prospectus and those that are not reasonably likely to result in a Material Adverse Effect. The property held under
lease by the Company and its subsidiaries is held by them under valid, subsisting and enforceable leases with only such exceptions
with respect to any particular lease as do not interfere in any material respect with the conduct of the business of the Company
and its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xii) <B>Intellectual Property</B>. Each of the Company and its subsidiaries owns, possesses, has valid right to use, or can acquire
on reasonable terms all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service
mark registrations, copyrights, licenses, inventions, trade secrets and similar rights (&ldquo;<U>Intellectual Property</U>&rdquo;)
reasonably necessary for the conduct of the business of the Company and its subsidiaries as currently carried on and as described
in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus. To the knowledge of the Company, no
action or use by the Company or any of its subsidiaries involves or gives rise to any infringement of, or license or similar fees
for, any Intellectual Property of others, except where such action, use, license or fee is not reasonably likely to result in a
Material Adverse Effect. Neither the Company nor any of its subsidiaries has received any notice alleging any such infringement
or fee. To the Company&rsquo;s knowledge, none of the technology employed by the Company or any of its subsidiaries has been obtained
or is being used by the Company or such subsidiary in violation of any contractual obligation binding on the Company or such subsidiary
or, to the Company&rsquo;s knowledge, any of the officers, directors or employees of the Company or any of its subsidiaries, or,
to the Company&rsquo;s knowledge, otherwise in violation of the rights of any persons, except in each case for such violations
as would not, 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: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xiii) <B>Employment Matters</B>. There is (A) no unfair labor practice complaint pending against the Company, or any of its subsidiaries,
nor to the Company&rsquo;s knowledge, threatened against it or any of its subsidiaries, before the National Labor Relations Board,
any state or local labor relation board or any foreign labor relations board, and no grievance or arbitration proceeding arising
out of or under any collective bargaining agreement is so pending against the Company or any of its subsidiaries, or, to the Company&rsquo;s
knowledge, threatened against it, and (B) no labor disturbance by the employees of the Company or any of its subsidiaries exists
or, to the Company&rsquo;s knowledge, is imminent, and the Company is not aware of any existing or imminent labor disturbance by
the employees of any of its or its subsidiaries, principal suppliers, manufacturers, customers or contractors, that could reasonably
be expected, singularly or in the aggregate, to have a Material Adverse Effect. The Company is not aware that any key employee
or significant group of employees of the Company or any subsidiary plans to terminate employment with the Company or any such subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xiv) <B>ERISA Compliance</B>. No &ldquo;prohibited transaction&rdquo; (as defined in Section 406 of the Employee Retirement Income
Security Act of 1974, as amended, including the regulations and published interpretations thereunder (&ldquo;<U>ERISA</U>&rdquo;),
or Section 4975 of the Internal Revenue Code of 1986, as amended from time to time (the &ldquo;<U>Code</U>&rdquo;)) or &ldquo;accumulated
funding deficiency&rdquo; (as defined in Section 302 of ERISA) or any of the events set forth in Section 4043(b) of ERISA (other
than events with respect to which the thirty (30)-day notice requirement under Section 4043 of ERISA has been waived) has occurred
or could reasonably be expected to occur with respect to any employee benefit plan of the Company or any of its subsidiaries which
would reasonably be expected to, singularly or in the aggregate, have a Material Adverse Effect. Each employee benefit plan of
the Company or any of its subsidiaries is in compliance in all material respects with applicable law, including ERISA and the Code.
The Company and its subsidiaries have not incurred and could not reasonably be expected to incur liability under Title IV of ERISA
with respect to the termination of, or withdrawal from, any pension plan (as defined in ERISA) which has not has, and would not
reasonably be expected to have, a Material Adverse Effect. Each pension plan for which the Company or any of its subsidiaries would
have any liability that is intended to be qualified under Section 401(a) of the Code is so qualified, and to the Company&rsquo;s
knowledge nothing has occurred, whether by action or by failure to act, which could, singularly or in the aggregate, cause the
loss of such qualification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xv) <B>Environmental Matters</B>. The Company and its subsidiaries are in compliance with all foreign, federal, state and local
rules, laws and regulations relating to the use, treatment, storage and disposal of hazardous or toxic substances or waste and
protection of health and safety or the environment which are applicable to their businesses (&ldquo;<U>Environmental Laws</U>&rdquo;),
except where the failure to comply has not had and would not reasonably be expected to have, singularly or in the aggregate, a
Material Adverse Effect. There has been no storage, generation, transportation, handling, treatment, disposal, discharge, emission,
or other release of any kind of toxic or other wastes or other hazardous substances by, due to, or caused by the Company or any
of its subsidiaries (or, to the Company&rsquo;s knowledge, any other entity for whose acts or omissions the Company or any of its
subsidiaries is or may otherwise be liable) upon any of the property now or previously owned or leased by the Company or any of
its subsidiaries, or upon any other property, in violation of any law, statute, ordinance, rule, regulation, order, judgment, decree
or permit or which would, under any law, statute, ordinance, rule (including rule of common law), regulation, order, judgment,
decree or permit, give rise to any liability, except for any violation or liability which has not had and would not reasonably
be expected to have, singularly or in the aggregate, a Material Adverse Effect; and there has been no disposal, discharge, emission
or other release of any kind onto such property or into the environment surrounding such property of any toxic or other wastes
or other hazardous substances with respect to which the Company or any of its subsidiaries has knowledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xvi) <B>SOX Compliance</B>. The Company is in compliance in all material respects with all applicable provisions of the Sarbanes-Oxley
Act of 2002 and all rules and regulations promulgated thereunder or implementing the provisions thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xvii) <B>Reserved. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xviii) <B>Money Laundering Laws</B>. The operations of the Company and its subsidiaries are and have been conducted at all times
in compliance in all material respects with applicable financial recordkeeping and reporting requirements of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder
and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Entity (collectively,
the &ldquo;<U>Money Laundering Laws</U>&rdquo;); and no action, suit or proceeding by or before any Governmental Entity involving
the Company or any of its subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the Company,
threatened. &ldquo;<U>Governmental Entity</U>&rdquo; shall be defined as any arbitrator, court, governmental body, regulatory body,
administrative agency or other authority, body or agency (whether foreign or domestic) having jurisdiction over the Company or
any of its subsidiaries or any of their respective properties, assets or operations<FONT STYLE="font-size: 10pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xix) <B>Foreign Corrupt Practices Act</B>. Neither the Company nor any of its subsidiaries, or any director or officer of the
Company or any subsidiary, nor, to the knowledge of the Company, any employee, representative, agent, affiliate of the Company
or any of its subsidiaries or any other person acting on behalf of the Company or any of its subsidiaries, is aware of or has taken
any action, directly or indirectly, that would result in a violation by such persons of the Foreign Corrupt Practices Act of 1977,
as amended, and the rules and regulations thereunder (the &ldquo;<U>FCPA</U>&rdquo;), including, without limitation, making use
of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay
or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything
of value to any &ldquo;foreign official&rdquo; (as such term is defined in the FCPA) or any foreign political party or official
thereof or any candidate for foreign political office, in contravention of the FCPA and the Company and, to the knowledge of the
Company, its affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and
procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xx) <B>OFAC</B>. Neither the Company nor any of its subsidiaries or any director or officer of the Company or any subsidiary,
nor, to the knowledge of the Company, any employee, representative, agent or affiliate of the Company or any of its subsidiaries
or any other person acting on behalf of the Company or any of its subsidiaries is currently subject to any U.S. sanctions administered
by the Office of Foreign Assets Control of the U.S. Treasury Department (&ldquo;<U>OFAC</U>&rdquo;); and the Company will not directly
or indirectly use the proceeds of the offering of the Shares contemplated hereby, or lend, contribute or otherwise make available
such proceeds to any person or entity, for the purpose of financing the activities of any person currently subject to any U.S.
sanctions administered by OFAC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxi) <B>Insurance</B>. The Company and each of its subsidiaries carries, or is covered by, insurance in such amounts and covering
such risks as it believes is adequate for the conduct of its business as currently conducted as described in the Registration Statement,
the Time of Sale Disclosure Package and the Final Prospectus, and the value of its properties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxii) <B>Books and Records</B>. The minute books of the Company and each of its subsidiaries have been made available to the Underwriters
and counsel for the Underwriters, and such books (i) contain a complete summary of all meetings and actions of the board of directors
(including each board committee) and stockholders of the Company (or analogous governing bodies and interest holders, as applicable),
and each of its subsidiaries for the period reviewed by counsel for the Underwriters, and (ii) accurately in all material respects
reflect all transactions referred to in such minutes for such period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxiii) <B>No Undisclosed Contracts</B>. There is no Contract or document required by the Securities Act or by the Rules and Regulations
to be described in the Registration Statement, the Time of Sale Disclosure Package or in the Final Prospectus or to be filed as
an exhibit to the Registration Statements which is not so described or filed therein as required; and all descriptions of any such
Contracts or documents contained in the Registration Statement, the Time of Sale Disclosure Package and in the Final Prospectus
are accurate descriptions of such documents in all material respects. Other than as described in the Registration Statement, the
Time of Sale Disclosure Package and the Final Prospectus, no such Contract has been suspended or terminated for convenience or
default by the Company or any subsidiary party thereto or any of the other parties thereto, and neither the Company nor any of
its subsidiaries has received notice, and the Company has no knowledge, of any such pending or threatened suspension or termination,
except for such pending or threatened suspensions or terminations that have not had, and would not reasonably be expected to have,
a Material Adverse Effect, individually or in the aggregate.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxiv) <B>No Undisclosed Relationships</B>. No relationship, direct or indirect, exists between or among the Company or any of
its subsidiaries on the one hand, and the directors, officers, stockholders (or analogous interest holders), customers or suppliers
of the Company or any of its subsidiaries on the other hand, which is required to be described in the Registration Statement, the
Time of Sale Disclosure Package or the Final Prospectus and which is not so described.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxv) <B>Insider Transactions</B>. All transactions by the Company with office holders or control persons of the Company have
been duly approved by the board of directors of the Company, or duly appointed committees or officers thereof, if and to the extent
required under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxvi) <B>No Registration Rights</B>. No person or entity has the right to require registration of Common Shares or other securities
of the Company or any of its subsidiaries within 180 days of the date hereof because of the filing or effectiveness of the Registration
Statement or otherwise, except for persons and entities who have expressly waived such right in writing or who have been given
timely and proper written notice and have failed to exercise such right within the time or times required under the terms and conditions
of such right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxvii) <B>Continued Business</B>. No supplier, customer,&nbsp;distributor or sales agent of the Company or any of its subsidiaries
has&nbsp;notified the Company or any such subsidiary that it intends to&nbsp;discontinue or&nbsp;decrease the rate of business
done&nbsp;with&nbsp;the Company or any such subsidiary, except where such discontinuation or decrease has not resulted in and could
not reasonably be expected to result in a Material Adverse Effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxviii) <B>No Finder&rsquo;s Fee</B>. There are no claims, payments, issuances, arrangements or understandings for services with
any third party in the nature of a finder&rsquo;s, consulting or origination fee with respect to the introduction of the Company
to any of the Underwriters or the sale of the Shares hereunder or any other arrangements, agreements, understandings, payments
or issuances with respect to the Company that may affect the Underwriters&rsquo; compensation, as determined by FINRA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxix) <B>No Fees.</B> Except as disclosed in writing to the Representative, the Company has not made any direct or indirect payments
(in cash, securities or otherwise) to (i) any person, as a finder&rsquo;s fee, investing fee or otherwise, in consideration of
such person raising capital for the Company or introducing to the Company persons who provided capital to the Company, (ii) any
FINRA member, or (iii) any person or entity that has any direct or indirect affiliation or association with any FINRA member within
the 12-month period prior to the date on which the Registration Statement was filed with the Commission (&ldquo;<U>Filing Date</U>&rdquo;)
or thereafter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxx) <B>Proceeds</B>. None of the net proceeds of the offering will be paid by the Company to any participating FINRA member
or any affiliate or associate of any participating FINRA member, except as specifically authorized herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxxi) <B>No FINRA Affiliations</B>. To the Company&rsquo;s knowledge and except as described in the Registration Statement, The
Time of Sale Disclosure Package or the Final Prospectus or disclosed to the Representative in writing, no (i) officer or director
of the Company or its subsidiaries, (ii) owner of 5% or more of any class of the Company&rsquo;s securities or (iii) owner of any
amount of the Company&rsquo;s unregistered securities acquired within the 180-day period prior to the Filing Date, has any direct
or indirect affiliation or association with any FINRA member. The Company will advise the Representative and counsel to the Underwriters
if it becomes aware that any officer, director of the Company or its subsidiaries or any owner of 5% or more of any class of the
Company&rsquo;s securities is or becomes an affiliate or associated person of a FINRA member participating in the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxxii) <B>No Financial Advisor</B>. Other than the Underwriters, no person has the right to act as an underwriter or as a financial
advisor to the Company in connection with the transactions contemplated hereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxxiii) <B>Certain Statements</B>. The statements set forth in the Registration Statement, the Time of Sale Disclosure Package
and the Final Prospectus under the caption &ldquo;Description of Capital Stock&rdquo; insofar as they purport to constitute a summary
of (i) the terms of the Company&rsquo;s outstanding securities, (ii) the terms of the Shares, and (iii) the terms of the documents
referred to therein, are accurate, complete and fair in all material respects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xxxiv) <B>Prior
Sales of Securities</B>. Except as set forth in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus,
the Company has not sold or issued any shares of Common Stock during the six-month period preceding the date hereof, including
any sales pursuant to Rule 144A under, or Regulations D or S of, the Securities Act, other than shares issued pursuant to employee
benefit plans, stock option plans or other employee compensation plans or pursuant to outstanding preferred stock, options, rights
or warrants or other outstanding convertible securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) Any certificate signed by any officer of the Company and delivered to the Representative on behalf of the Underwriters or
to counsel for the Underwriters shall be deemed a representation and warranty by the Company to the Underwriters as to the matters
covered thereby.</P>

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

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

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>4. Purchase, Sale and Delivery of Shares.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) On the basis of the representations, warranties and agreements herein contained, but subject to the terms and conditions
herein set forth, the Company agrees to issue and sell the Firm Shares to the several Underwriters, and the several Underwriters
agree, severally and not jointly, to purchase the Firm Shares set forth opposite the names of the Underwriters in Schedule I hereto.
<FONT STYLE="background-color: white">The purchase price to be paid by the Underwriters to the Company for each Firm Share shall
be $9.40per share; provided however, that the purchase price for each Firm Share sold to officers, directors, owners of 5% or greater
of any class of the Company&rsquo;s equity securities, affiliates of any of the foregoing and </FONT>certain investors previously
identified to the Representative <FONT STYLE="background-color: white">(the &ldquo;<U>Excluded Parties</U>&rdquo;) shall be $</FONT>10.00
<FONT STYLE="background-color: white">per share. </FONT>The Company hereby grants to the Underwriters the option to purchase some
or all of the Option Shares and, upon the basis of the warranties and representations and subject to the terms and conditions herein
set forth, the Underwriters shall have the right, severally and not jointly, to purchase at the purchase prices set forth in Section
4(a) all or any portion of the Option Shares as may be necessary to cover over-allotments made in connection with the transactions
contemplated hereby. The purchase price to be paid by the Underwriters to the Company for each Option Share shall be $9.40 per
share; <FONT STYLE="background-color: white">provided however, that the purchase price for each Option Share sold to the Excluded
Parties shall be $</FONT>10.00 <FONT STYLE="background-color: white">per share</FONT>. This option may be exercised by the Underwriters
at any time and from time to time on or before the thirtieth (30<SUP>th</SUP>) day following the date hereof, by written notice
to the Company (the &ldquo;<U>Option Notice</U>&rdquo;). The Option Notice shall set forth the aggregate number of Option Shares
as to which the option is being exercised, and the date and time when the Option Shares are to be delivered (such date and time
being herein referred to as the &ldquo;<U>Option Closing Date</U>&rdquo;); <I>provided</I>, <I>however</I>, that the Option Closing
Date shall not be earlier than the Closing Date (as defined below) nor earlier than the first business day after the date on which
the option shall have been exercised nor later than the fifth business day after the date on which the option shall have been exercised
unless the Company and the Representative otherwise agree.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) Payment of the purchase price for and delivery of the Option Shares shall be made on an Option Closing Date in the same
manner and at the same office as the payment for the Firm Shares as set forth in subparagraph (d) below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) The Firm Shares will be delivered by the Company to the Representative, for the respective accounts of the several Underwriters,
against payment of the purchase price therefor by wire transfer of same day funds payable to the order of the Company at the offices
of Roth Capital Partners, LLC, 888 San Clemente Drive, Suite 400, Newport Beach, CA 92660, or such other location as may be mutually
acceptable, at 6:00 a.m. Pacific Time, on the second (or if the Firm Shares are priced, as contemplated by Rule 15c6-1(c) under
the Exchange Act, after 4:30 p.m. Eastern time, the third) full business day following the date hereof, or at such other time and
date as the Representative and the Company determine pursuant to Rule 15c6-1(a) under the Exchange Act, or, in the case of the
Option Shares, at such date and time set forth in the Option Notice. The time and date of delivery of the Firm Shares is referred
to herein as the &ldquo;<U>Closing Date</U>.&rdquo; On the Closing Date, the Company shall deliver the Firm Shares, which shall
be registered in the name or names and shall be in such denominations as the Representative may request on behalf of the Underwriters
at least one (1) business day before the Closing Date, to the respective accounts of the several Underwriters, which delivery shall
be made through the facilities of the Depository Trust Company&rsquo;s DWAC system.</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) It is understood that the Representative has been authorized, for its own account and the accounts of the several Underwriters,
to accept delivery of and receipt for, and make payment of the purchase price for, the Firm Shares and any Option Shares the Underwriters
have agreed to purchase. The Representative, individually and not as the Representative of the Underwriters, may (but shall not
be obligated to) make payment for any Shares to be purchased by any Underwriter whose funds shall not have been received by the
Representative by the Closing Date or any Option Closing Date, as the case may be, for the account of such Underwriter, but any
such payment shall not relieve such Underwriter from any of its obligations under this Agreement.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>5. Covenants.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Company covenants and agrees with the Underwriters as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i) The Company shall prepare the Final Prospectus in a form approved by the Representative and file such Final Prospectus pursuant
to Rule 424(b) under the Securities Act not later than the Commission's close of business on the second business day following
the execution and delivery of this Agreement, or, if applicable, such earlier time as may be required by the Rules and Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii) During
the period beginning on the date hereof and ending on the later of the Closing Date or such date as determined by the
Representative the Final Prospectus is no longer required by law to be delivered in connection with sales by an underwriter
or dealer (the &ldquo;<U>Prospectus Delivery Period</U>&rdquo;), prior to amending or supplementing the Registration
Statement, including any Rule 462 Registration Statement, the Time of Sale Disclosure Package or the Final Prospectus, the
Company shall furnish to the Representative for review and comment a copy of each such proposed amendment or supplement, and
the Company shall not file any such proposed amendment or supplement to which the Representative reasonably objects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii) From the date of this Agreement until the end of the Prospectus Delivery Period, the Company shall promptly advise the Representative
in writing (A) of the receipt of any comments of, or requests for additional or supplemental information from, the Commission,
(B) of the time and date of any filing of any post-effective amendment to the Registration Statement or any amendment or supplement
to the Time of Sale Disclosure Package, the Final Prospectus or any Issuer Free Writing Prospectus, (C) of the time and date that
any post-effective amendment to the Registration Statement becomes effective and (D) of the issuance by the Commission of any stop
order suspending the effectiveness of the Registration Statement or of any order preventing or suspending its use or the use of
the Time of Sale Disclosure Package, the Final Prospectus or any Issuer Free Writing Prospectus, or of any proceedings to remove,
suspend or terminate from listing or quotation the Common Stock from any securities exchange upon which it is listed for trading
or included or designated for quotation, or of the threatening or initiation of any proceedings for any of such purposes. If the
Commission shall enter any such stop order at any time during the Prospectus Delivery Period, the Company will use its reasonable
efforts to obtain the lifting of such order at the earliest possible moment. Additionally, the Company agrees that it shall comply
with the provisions of Rules 424(b), <FONT STYLE="background-color: white">430A, 430B or 430C</FONT> as applicable, under the Securities
Act and will use its reasonable efforts to confirm that any filings made by the Company under Rule 424(b) or Rule 433 were received
in a timely manner by the Commission (without reliance on Rule 424(b)(8) or 164(b) of the Securities Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv) (A) During the Prospectus Delivery Period, the Company will comply with all requirements imposed upon it by the Securities
Act, as now and hereafter amended, and by the Rules and Regulations, as from time to time in force, and by the Exchange Act, as
now and hereafter amended, so far as necessary to permit the continuance of sales of or dealings in the Shares as contemplated
by the provisions hereof, the Time of Sale Disclosure Package, the Registration Statement and the Final Prospectus. If during the
Prospectus Delivery Period any event occurs the result of which would cause the Final Prospectus (or if the Final Prospectus is
not yet available to prospective purchasers, the Time of Sale Disclosure Package) to include an untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing,
not misleading, or if during such period it is necessary or appropriate in the opinion of the Company or its counsel or the Representative
or counsel to the Underwriters to amend the Registration Statement or supplement the Final Prospectus (or if the Final Prospectus
is not yet available to prospective purchasers, the Time of Sale Disclosure Package) to comply with the Securities Act, or to file
under the Exchange Act any document that would be deemed to be incorporated by reference in the Final Prospectus in order to comply
with the Securities Act or the Exchange Act, the Company will promptly notify the Representative, allow the Representative the
opportunity to provide reasonable comments on such amendment, prospectus supplement or document, and will amend the Registration
Statement or supplement the Final Prospectus (or if the Final Prospectus is not yet available to prospective purchasers, the Time
of Sale Disclosure Package) or file such document (at the expense of the Company) so as to correct such statement or omission or
effect such compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(B) If
at any time during the Prospectus Delivery Period there occurred or occurs an event or development the result of which such Issuer
Free Writing Prospectus conflicted or would conflict with the information contained in the Registration Statement or any Prospectus
or included or would include, when taken together with the Time of Sale Disclosure Package, an untrue statement of a material fact
or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances
prevailing at that subsequent time, not misleading, the Company will promptly notify the Representative and will promptly amended
or will promptly amend or supplement, at its own expense, such Issuer Free Writing Prospectus to eliminate or correct such conflict,
untrue statement or omission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v) The Company shall take or cause to be taken all action reasonably necessary to qualify the Shares for sale under the securities
laws of such jurisdictions as the Representative reasonably designates and to continue such qualifications in effect so long as
required for the distribution of the Shares, except that the Company shall not be required in connection therewith to qualify as
a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified, to execute a general consent
to service of process in any state or to subject itself to taxation in respect of doing business in any jurisdiction in which it
is not otherwise subject.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vi) The Company will furnish to the Representative and counsel to the Underwriters copies of the Registration Statement, each
Prospectus, any Issuer Free Writing Prospectus, and all amendments and supplements to such documents, in each case as soon as available
and in such quantities as the Representative may from time to time reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(vii) The Company will make generally available to its security holders as soon as practicable, but in any event not later than
15 months after the end of the Company&rsquo;s current fiscal quarter, an earnings statement (which need not be audited) covering
a 12-month period that shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 of the Rules and Regulations;
provided that the Company will be deemed to have furnished such statements to its security holders and the Representative to the
extent they are filed on EDGAR .</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(viii) The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, will
pay or cause to be paid (A) all expenses (including transfer taxes allocated to the respective transferees) incurred in connection
with the delivery to the Underwriters of the Shares (including all fees and expenses of the registrar and transfer agent of the
Shares (if other than the Company), and the cost of preparing and printing stock certificates), (B) all expenses and fees (including,
without limitation, fees and expenses of the Company&rsquo;s counsel) in connection with the preparation, printing, filing, delivery,
and shipping of the Registration Statement (including the financial statements therein and all amendments, schedules, and exhibits
thereto), the Shares, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus, any Issuer Free Writing Prospectus
and any amendment thereof or supplement thereto, (C) all reasonable filing fees and reasonable fees and disbursements of the Underwriters&rsquo;
counsel incurred in connection with the qualification of the Shares for offering and sale by the Underwriters or by dealers under
the securities or blue sky laws of the states and other jurisdictions that the Representative shall designate, (D) the reasonable
filing fees and reasonable fees and disbursements of counsel to the Underwriters incident to any required review and approval by
FINRA, of the terms of the sale of the Shares, (E) listing fees, if any, and (F) all other costs and expenses incident to the performance
of its obligations hereunder that are not otherwise specifically provided for herein. The Company will reimburse the Representative
for the Underwriters&rsquo; reasonable documented out-of-pocket expenses, including legal fees and disbursements, in connection
with the purchase and sale of the Shares contemplated hereby up to an aggregate of $150,000 (including amounts payable pursuant
to clauses (C) and (D) above). If this Agreement is terminated by the Representative in accordance with the provisions of Section
5, the Company will reimburse the Underwriters for all reasonable documented out-of-pocket disbursements (including, but not limited
to, reasonable fees and disbursements of counsel, travel expenses, postage, facsimile and telephone charges) incurred by the Underwriters
in connection with their investigation, preparing to market and marketing the Shares or in contemplation of performing its obligations
hereunder. Notwithstanding anything to the contrary, if this Agreement is terminated pursuant to Section 6 by reason of the default
of one or more Underwriters, the Company shall not be obligated to reimburse any Underwriter on account of expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ix) The Company intends to apply the net proceeds from the sale of the Shares to be sold by it hereunder for the purposes set
forth in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus under the heading &ldquo;Use
of Proceeds&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(x) Except for the grant to the Underwriters of the right to purchase the Options Shares, the Company has not taken and will
not take, directly or indirectly, during the Prospectus Delivery Period, any action designed to or which might reasonably be expected
to cause or result in, or that has constituted, the stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(xi) The Company represents and agrees that, unless it obtains the prior written consent of the Representative, and each Underwriter
, severally, and not jointly, represents and agrees that, unless it obtains the prior written consent of the Company, it has not
made and will not make any offer relating to the Shares that would constitute an Issuer Free Writing Prospectus; provided that
the prior written consent of the parties hereto shall be deemed to have been given in respect of the free writing prospectuses
included in <B>Schedule III</B>. Any such free writing prospectus consented to by the Company and the Representative is hereinafter
referred to as a &ldquo;<U>Permitted Free Writing Prospectus</U>.&rdquo; The Company represents that it has treated or agrees that
it will treat each Permitted Free Writing Prospectus as an &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule 433,
and has complied or will comply with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including
timely Commission filing where required, legending and record-keeping.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i) The Company hereby agrees that, without the prior written consent of the Representative, it will not, during the period
ending ninety (90) days after the date hereof (&ldquo;<U>Lock-Up Period</U>&rdquo;), (i) offer, pledge, issue, sell, contract to
sell, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into
or exercisable or exchangeable for Common Stock; or (ii) enter into any swap or other arrangement that transfers to another, in
whole or in part, any of the economic consequences of ownership of the Common Stock, whether any such transaction described in
clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise; or (iii)
file any registration statement with the Commission relating to the offering of any shares of Common Stock or any securities convertible
into or exercisable or exchangeable for Common Stock. The restrictions contained in the preceding sentence shall not apply to (1)
the Shares to be sold hereunder, (2) the issuance of Common Stock upon the exercise of options or warrants or the conversion of
outstanding preferred stock or other outstanding convertible securities disclosed as outstanding in the Registration Statement
(excluding exhibits thereto), the Time of Sale Disclosure Package, and the Final Prospectus, (3) the issuance of employee stock
options and the grant of restricted stock awards or restricted stock units or shares of Common Stock pursuant to equity incentive
plans described in the Registration Statement (excluding exhibits thereto), the Time of Sale Disclosure Package, and the Final
Prospectus, <I>provided </I>that this clause (3) shall not be available unless each recipient of shares of Common Stock, or securities
exchangeable or exercisable for or convertible into Common Stock, pursuant to such equity incentive plan shall be contractually
prohibited from selling, offering, disposing of or otherwise transferring any such shares or securities during the remainder of
the Lock-Up Period (4) adoption of a new equity incentive plan, and file a registration statement on Form S-8 under the Securities
Act to register the offer and sale of securities to be issued pursuant to such new equity incentive plan, and issue securities
pursuant to such new equity incentive plan (including, without limitation, the issuance of shares of Common Stock upon the exercise
of options or other securities issued pursuant to such new equity incentive plan), <I>provided </I>that (a) such new equity incentive
plan satisfies the transaction requirements of General Instruction A.1 of Form S-8 under the Securities Act and (b) this clause
(4) shall not be available unless each recipient of shares of Common Stock, or securities exchangeable or exercisable for or convertible
into Common Stock, pursuant to such new equity incentive plan shall be contractually prohibited from selling, offering, disposing
of or otherwise transferring any such shares or securities during the remainder of the Lock-Up Period, and (5) entry into an agreement
providing for the issuance of Common Stock or securities convertible into or exercisable for shares of Common Stock in connection
with any exchange offer, restructuring, or similar transaction, and the issuance of any such securities pursuant to any such agreement;
<I>provided</I>, that the recipient of any such shares of Common Stock or securities issued pursuant to clause (5) during the 90-day
restricted period described above shall enter into an agreement substantially in the form of <B>Exhibit A</B> hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii) The Company hereby agrees, during a period of three years from the effective date of the Registration Statement, so long
as the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, to furnish to the Representative
copies of all reports or other communications (financial or other) furnished to its stockholders, and to deliver to the Representative
as soon as reasonably practicable upon availability, copies of any reports and financial statements furnished to or filed with
the Commission or any national securities exchange on which any class of securities of the Company is listed; provided, that any
information or documents available on the Commission&rsquo;s Electronic Data Gathering, Analysis and Retrieval System shall be
considered furnished for purposes of this Section 5(a)(xiii).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii) The Company hereby agrees to engage and maintain, at its expense, a registrar and transfer agent for the Common Stock (if
other than the Company).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iv) The Company hereby agrees to use its reasonable best efforts to obtain approval to list the Shares on the NYSE American.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(v) The Company hereby agrees not to take, directly or indirectly, any action designed to cause or result in, or that has constituted
or might reasonably be expected to constitute, under the Exchange Act or otherwise, the stabilization or manipulation of the price
of any securities of the Company to facilitate the sale or resale of the Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>6. Conditions of the Underwriters&rsquo; Obligations.</B> <FONT STYLE="font-style: normal">The respective obligations of the
several Underwriters hereunder to purchase the Shares are subject to the accuracy, as of the date hereof and at all times through
the Closing Date, and on each Option Closing Date (as if made on the Closing Date or such Option Closing Date, as applicable),
of and compliance with all representations, warranties and agreements of the Company contained herein, the performance by the Company
of its obligations hereunder and the following additional conditions:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) If filing of the Final Prospectus, or any amendment or supplement thereto, or any Issuer Free Writing Prospectus, is required
under the Securities Act or the Rules and Regulations, the Company shall have filed the Final Prospectus (or such amendment or
supplement) or such Issuer Free Writing Prospectus with the Commission in the manner and within the time period so required (without
reliance on Rule 424(b)(8) or 164(b) under the Securities Act); the Registration Statement shall remain effective; no stop order
suspending the effectiveness of the Registration Statement or any part thereof, any Rule 462 Registration Statement, or any amendment
thereof, nor suspending or preventing the use of the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus or any
Issuer Free Writing Prospectus shall have been issued; no proceedings for the issuance of such an order shall have been initiated
or threatened by the Commission; any request of the Commission or the Representative for additional information (to be included
in the Registration Statement, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus, any Issuer Free Writing
Prospectus or otherwise) shall have been complied with to the satisfaction of the Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) The Shares shall be approved for listing on the NYSE American, subject to official notice of issuance.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) FINRA shall have raised no objection to the fairness and reasonableness of the underwriting terms and arrangements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) The Representative shall not have <FONT STYLE="text-underline-style: double"><U>reasonably determined, and </U></FONT>advised
the Company, that the Registration Statement, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus, or any
amendment thereof or supplement thereto, or any Issuer Free Writing Prospectus, contains an untrue statement of fact which, in
the reasonable opinion of the Representative, is material, or omits to state a fact which, in the reasonable opinion of the Representative,
is material and is required to be stated therein or necessary to make the statements therein not misleading.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) On the Closing Date and on each Option Closing Date, there shall have been furnished to the Representative, for the benefit
of the Underwriters, the opinion and negative assurance letters of Morgan, Lewis &amp; Bockius LLP, regulatory counsel to the Company,
each dated the Closing Date or the Option Closing Date, as applicable, and addressed to the Underwriters, in form and substance
reasonably satisfactory to the Representative.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) On the Closing Date and on each Option Closing Date, there shall have been furnished to the Representative, for the benefit
of the Underwriters, the opinion and negative assurance letters of O&rsquo;Melveny &amp; Myers LLP, counsel to the Company, each
dated the Closing Date or the Option Closing Date, as applicable, and addressed to the Underwriters, in form and substance reasonably
satisfactory to the Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(g) On the Closing Date and on each Option Closing Date, there shall have been furnished to the Representative the negative
assurance letter of Sichenzia Ross Ference LLP, counsel to the Underwriters, dated the Closing Date or the Option Closing Date,
as applicable, and addressed to the Underwriters, in form and substance reasonably satisfactory to Representative.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(h) The Representative, for the benefit of the Underwriters, shall have received a letter of PricewaterhouseCoopers LLP, on
the date hereof and on the Closing Date and on each Option Closing Date, addressed to the Underwriters, confirming that they are
independent public accountants within the meaning of the Securities Act and are in compliance with the applicable requirements
relating to the qualifications of accountants under Rule 2-01 of Regulation S-X of the Commission, and confirming, as of the date
of each such letter (or, with respect to matters involving changes or developments since the respective dates as of which specified
financial information is given in the Registration Statement, the Time of Sale Disclosure Package and the Final Prospectus, as
of a date not prior to the date hereof or more than five days prior to the date of such letter), the conclusions and findings of
said firm with respect to the financial information and other matters required by the Underwriters.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(i) On the Closing Date and on each Option Closing Date, there shall have been furnished to the Representative, for the benefit
of the Underwriters, a certificate, dated the Closing Date and on each Option Closing Date and addressed to the Underwriters, signed
by the chief executive officer and the chief financial officer of the Company, in their capacity as officers of the Company, to
the effect that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(i) The representations and warranties of the Company in this Agreement that are qualified by materiality or by reference to
any Material Adverse Effect are true and correct in all respects, and all other representations and warranties of the Company in
this Agreement are true and correct, in all material respects, as if made at and as of the Closing Date and on the Option Closing
Date, and the Company has complied with all the agreements and satisfied all the conditions on its part required to be performed
or satisfied at or prior to the Closing Date or on the Option Closing Date, as applicable;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(ii) No stop order or other order (A) suspending the effectiveness of the Registration Statement or any part thereof or any amendment
thereof, (B) suspending the qualification of the Shares for offering or sale, or (C) suspending or preventing the use of the Time
of Sale Disclosure Package, any Prospectus, the Final Prospectus or any Issuer Free Writing Prospectus, has been issued, and no
proceeding for that purpose has been instituted or, to their knowledge, is contemplated by the Commission or any state or regulatory
body; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">(iii) There has been no occurrence of any event resulting or reasonably likely to result in a Material Adverse Effect during the
period from and after the date of this Agreement and prior to the Closing Date or on the Option Closing Date, as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(j) On or before the date hereof, the Representative shall have received duly executed lock-up agreements (each a &ldquo;<U>Lock-Up
Agreement</U>&rdquo;) in the form set forth on <B>Exhibit A</B> hereto, by and between the Representative and each of the parties
specified in <B>Schedule IV</B>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(k) The Company shall have furnished to the Underwriters and their counsel such additional documents, certificates and evidence
as the Representative or its counsel may have reasonably requested.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-weight: normal">If
any condition specified in this Section 6 shall not have been fulfilled when and as required to be fulfilled, this Agreement may
be terminated by the Representative by notice to the Company any time at or prior to the Closing Date or on the Option Closing
Date, as applicable, and such termination shall be without liability of any party to any other party, except that Section 5(a)(viii),
Section 9 and Section 10 shall survive any such termination and remain in full force and effect.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>7. Indemnification and Contribution</B><FONT STYLE="font-style: normal">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Company agrees to indemnify, defend and hold harmless each Underwriter, its affiliates, directors and officers and employees,
and each person, if any, who controls such Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act, from and against any losses, claims, damages or liabilities to which such party may become subject, under the
Securities Act or otherwise (including in settlement of any litigation if such settlement is effected with the written consent
of the Company), insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon (i) an untrue statement or alleged untrue statement of a material fact contained in the Registration Statement, including
the information deemed to be a part of the Registration Statement at the time of effectiveness and at any subsequent time pursuant
to Rules 430A and 430B of the Rules and Regulations, or arise out of or are based upon the omission from the Registration Statement,
or alleged omission to state therein, a material fact required to be stated therein or necessary to make the statements therein
not misleading, (ii) an untrue statement or alleged untrue statement of a material fact contained in the Time of Sale Disclosure
Package, any Prospectus, the Final Prospectus, or any amendment or supplement thereto, any Issuer Free Writing Prospectus, or the
Marketing Materials or in any other materials used in connection with the offering of the Shares, or arise out of or are based
upon 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, or (iii) in whole or in part, any failure of
the Company to perform its obligations hereunder or under law, and will reimburse such party for any legal or other expenses reasonably
incurred by such party in connection with evaluating, investigating or defending against such loss, claim, damage, liability or
action; <I>provided, however</I>, that such indemnity shall not inure to the benefit of any Underwriter (or any person controlling
such Underwriter) in any such case to the extent that any such loss, claim, damage, liability or action arises out of or is based
upon an untrue statement or alleged untrue statement or omission or alleged omission made in the Registration Statement, the Time
of Sale Disclosure Package, any Prospectus, the Final Prospectus, or any amendment or supplement thereto or any Issuer Free Writing
Prospectus or Marketing Materials, in reliance upon and in conformity with written information furnished to the Company by the
related Underwriter specifically for use in the preparation thereof, which written information is described in Section 7(f).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) Each Underwriter, severally and not jointly, will indemnify, defend and hold harmless the Company, its directors and each
officer of the Company who signs the Registration Statement and each person, if any, who controls the Company within the meaning
of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any losses, claims, damages or liabilities
to which such party may become subject, under the Securities Act or otherwise (including in settlement of any litigation, if such
settlement is effected with the written consent of such Underwriter), insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained
in the Registration Statement, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus, or any amendment or supplement
thereto or any Issuer Free Writing Prospectus, or arise out of or are based upon the omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent,
but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in the
Registration Statement, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus, or any amendment or supplement
thereto or any Issuer Free Writing Prospectus in reliance upon and in conformity with written information furnished to the Company
by such Underwriter specifically for use in the preparation thereof, which written information is described in Section 7(f), and
will reimburse such party for any legal or other expenses reasonably incurred by such party in connection with evaluating, investigating,
and defending against any such loss, claim, damage, liability or action. The obligation of each Underwriter to indemnify the Company
(including any controlling person, director or officer thereof) shall be limited to the amount of the underwriting discount applicable
to the Shares to be purchased by such Underwriter hereunder actually received by such Underwriter.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(c) Promptly after receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action,
such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party under such subsection,
notify the indemnifying party in writing of the commencement thereof; but the failure to notify the indemnifying party shall not
relieve the indemnifying party from any liability that it may have to any indemnified party except to the extent such indemnifying
party has been materially prejudiced by such failure. In case any such action shall be brought against any indemnified party, and
it shall notify the indemnifying party of the commencement thereof, the indemnifying party shall be entitled to participate in,
and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof,
with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified
party of the indemnifying party&rsquo;s election so to assume the defense thereof, the indemnifying party shall not be liable to
such indemnified party under such subsection for any legal or other expenses subsequently incurred by such indemnified party in
connection with the defense thereof other than reasonable costs of investigation; <I>provided</I>, <I>however</I>, that if (i)
the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or
other indemnified parties that are different from or in addition to those available to the indemnifying party, (ii) a conflict
or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying
party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified
party), or (iii) the indemnifying party has not in fact employed counsel reasonably satisfactory to the indemnified party to assume
the defense of such action within a reasonable time after receiving notice of the commencement of the action, the indemnified party
shall have the right to employ a single counsel to represent it in any claim in respect of which indemnity may be sought under
subsection (a) or (b) of this Section 7, in which event, the reasonable fees and expenses of such separate counsel shall be borne
by the indemnifying party or parties and reimbursed to the indemnified party as incurred. In no event shall the indemnifying party
be liable for the reasonable fees and expenses of more than one counsel (in addition to one local counsel) separate from its own
counsel for all indemnified parties in connection with any of action or separate but similar or related actions in the same jurisdiction
arising out of the same general allegations or circumstances.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The indemnifying party
under this Section 7 shall not be liable for any settlement of any proceeding effected without its written consent, but if settled
with such consent or if there be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified
party against any loss, claim, damage, liability or expense by reason of such settlement or judgment. No indemnifying party shall,
without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment
in any pending or threatened action, suit or proceeding in respect of which any indemnified party is a party or could reasonably
be named and indemnity was or would be sought hereunder by such indemnified party, unless such settlement, compromise or consent
(a) includes an unconditional release of such indemnified party from all liability for claims that are the subject matter of such
action, suit or proceeding and (b) does not include a statement as to or an admission of fault, culpability or a failure to act
by or on behalf of any indemnified party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(d) If the indemnification provided for in this Section 7 is unavailable or insufficient to hold harmless an indemnified party
under subsection (a) or (b) above, then each indemnifying party shall contribute to the amount paid or payable by such indemnified
party as a result of the losses, claims, damages or liabilities referred to in subsection (a) or (b) above, (i) in such proportion
as is appropriate to reflect the relative benefits received by the Company on the one hand and the Underwriters on the other from
the offering and sale of the Shares or (ii) if the allocation provided by clause (i) above is not permitted by applicable law,
in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative
fault of the Company on the one hand and the Underwriters on the other in connection with the statements or omissions that resulted
in such losses, claims, damages or liabilities, as well as any other relevant equitable considerations. The relative benefits received
by the Company on the one hand and the Underwriters on the other shall be deemed to be in the same proportion as the total net
proceeds from the offering (before deducting expenses) received by the Company bear to the total underwriting discount and commissions
received by the Underwriters, in each case as set forth in the table on the cover page of the Final Prospectus. The relative fault
shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the Company or the Underwriters and the
parties&rsquo; relevant intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or
omission. The Company and the Underwriters agree that it would not be just and equitable if contributions pursuant to this subsection
(d) were to be determined by pro rata allocation or by any other method of allocation that does not take account of the equitable
considerations referred to in the first sentence of this subsection (d). The amount paid by an indemnified party as a result of
the losses, claims, damages or liabilities referred to in the first sentence of this subsection (d) shall be deemed to include
any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending against
any action or claim that is the subject of this subsection (d). Notwithstanding the provisions of this subsection (d), no Underwriter
shall be required to contribute any amount in excess of the amount of the underwriting discount and commissions applicable to the
Shares to be purchased by such Underwriter hereunder actually received by such Underwriter. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. The Underwriters&rsquo; respective obligations to contribute as provided in this Section
7 are several in proportion to their respective underwriting commitments and not joint.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(e) The obligations of the Company under this Section 7 shall be in addition to any liability that the Company may otherwise
have and the benefits of such obligations shall extend, upon the same terms and conditions, to each person, if any, who controls
any Underwriter within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act; and the obligations of
each Underwriter under this Section 7 shall be in addition to any liability that each Underwriter may otherwise have and the benefits
of such obligations shall extend, upon the same terms and conditions, to the Company, and its officers, directors and each person
who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(f) For purposes of this Agreement, each Underwriter severally confirms, and the Company acknowledges, that there is no information
concerning such Underwriter furnished in writing to the Company by such Underwriter specifically for preparation of or inclusion
in the Registration Statement, the Time of Sale Disclosure Package, any Prospectus, the Final Prospectus or any Issuer Free Writing
Prospectus, other than the statement set forth in the last paragraph on the cover page of the Prospectus, the marketing and legal
names of each Underwriter, and the statements set forth in the &ldquo;Underwriting&rdquo; section of the Registration Statement,
the Time of Sale Disclosure Package, and the Final Prospectus only insofar as such statements relate to the amount of selling concession
and re-allowance, if any, or to over-allotment, stabilization and related activities that may be undertaken by such Underwriter.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>8. Representations and Agreements to Survive Delivery</B><FONT STYLE="font-style: normal">. All representations, warranties,
and agreements of the Company contained herein or in certificates delivered pursuant hereto, including, but not limited to, the
agreements of the Underwriters and the Company contained in Section 5(a)(vii) and Section 3 hereof, shall remain operative and
in full force and effect regardless of any investigation made by or on behalf of the Underwriters or any controlling person thereof,
or the Company or any of its officers, directors, or controlling persons, and shall survive delivery of, and payment for, the Shares
to and by the Underwriters hereunder.</FONT></P>

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

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

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>9. Termination of this Agreement</B><FONT STYLE="font-style: normal">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) The Representative shall have the right to terminate this Agreement by giving notice to the Company as hereinafter specified
at any time at or prior to the Closing Date or any Option Closing Date (as to the Option Shares to be purchased on such Option
Closing Date only), if in the discretion of the Representative, (i) there has occurred any material adverse change in the securities
markets or any event, act or occurrence that has materially disrupted, or in the opinion of the Representative, will in the future
materially disrupt, the securities markets or there shall be such a material adverse change in general financial, political or
economic conditions or the effect of international conditions on the financial markets in the United States is such as to make
it, in the judgment of the Representative, inadvisable or impracticable to market the Shares or enforce contracts for the sale
of the Shares (ii) trading in the Company&rsquo;s Common Stock shall have been suspended by the Commission or the NYSE American
or trading in securities generally on the Nasdaq Stock Market, the NYSE or the NYSE American shall have been suspended, (iii) minimum
or maximum prices for trading shall have been fixed, or maximum ranges for prices for securities shall have been required, on the
Nasdaq Stock Market, the NYSE or NYSE American , by such exchange or by order of the Commission or any other governmental authority
having jurisdiction, (iv) a banking moratorium shall have been declared by federal or state authorities, (v) there shall have occurred
any attack on, outbreak or escalation of hostilities or act of terrorism involving the United States, any declaration by the United
States of a national emergency or war, any substantial change or development involving a prospective substantial change in United
States or other international political, financial or economic conditions or any other calamity or crisis, or (vi) the Company
suffers any loss by strike, fire, flood, earthquake, accident or other calamity, whether or not covered by insurance, or (vii)
in the judgment of the Representative, there has been, since the time of execution of this Agreement or since the respective dates
as of which information is given in the Registration Statement, the Time of Sale Disclosure Package or the Final Prospectus, any
material adverse change in the assets, properties, condition, financial or otherwise, or in the results of operations, business
affairs or business prospects of the Company and its subsidiaries considered as a whole, whether or not arising in the ordinary
course of business. Any such termination shall be without liability of any party to any other party except that the provisions
of Section 5(a)(viii) and Section 9 hereof shall at all times be effective and shall survive such termination.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b) If the Representative elects to terminate this Agreement as provided in this Section, the Company and the other Underwriters
shall be notified promptly by the Representative by telephone, confirmed by letter.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>10. Substitution of Underwriters</B><FONT STYLE="font-style: normal">. If any Underwriter or Underwriters shall default in its
or their obligations to purchase Shares hereunder on the Closing Date or any Option Closing Date and the aggregate number of Shares
which such defaulting Underwriter or Underwriters agreed but failed to purchase does not exceed ten percent (10%) of the total
number of Shares to be purchased by all Underwriters on such Closing Date or Option Closing Date, the other Underwriters shall
be obligated severally, in proportion to their respective commitments hereunder, to purchase the Shares which such defaulting Underwriter
or Underwriters agreed but failed to purchase on such Closing Date or Option Closing Date. If any Underwriter or Underwriters shall
so default and the aggregate number of Shares with respect to which such default or defaults occur is more than ten percent (10%)
of the total number of Shares to be purchased by all Underwriters on such Closing Date or Option Closing Date and arrangements
satisfactory to the remaining Underwriters and the Company for the purchase of such Shares by other persons are not made within
forty-eight (48) hours after such default, this Agreement shall terminate.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the remaining Underwriters
or substituted Underwriters are required hereby or agree to take up all or part of the Shares of a defaulting Underwriter or Underwriters
on such Closing Date or Option Closing Date as provided in this Section 10, (i) the Company shall have the right to postpone such
Closing Date or Option Closing Date for a period of not more than five (5) full business days in order to permit the Company to
effect whatever changes in the Registration Statement, the Final Prospectus, or in any other documents or arrangements, which may
thereby be made necessary, and the Company agrees to promptly file any amendments to the Registration Statement or the Final Prospectus
which may thereby be made necessary, and (ii) the respective numbers of Shares to be purchased by the remaining Underwriters or
substituted Underwriters shall be taken as the basis of their underwriting obligation for all purposes of this Agreement. Nothing
herein contained shall relieve any defaulting Underwriter of its liability to the Company or any other Underwriter for damages
occasioned by its default hereunder. Any termination of this Agreement pursuant to this Section 10 shall be without liability on
the part of any non-defaulting Underwriters or the Company, except that the representations, warranties, covenants, indemnities,
agreements and other statements set forth in Section 2 and 3, the obligations with respect to expenses to be paid or reimbursed
pursuant to Section 5 and the provisions of Section 5(a)(viii) and Section 9 and Sections 11 through 19, inclusive, shall not terminate
and shall remain in full force and effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As used in this Agreement,
the term &ldquo;Underwriter&rdquo; shall be deemed to include any person substituted for a defaulting Underwriter under this Section
10. Any action taken under this Section 10 shall not relieve any defaulting Underwriter from liability in respect of any default
of such Underwriter under this Agreement.</P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>11. Notices</B><FONT STYLE="font-style: normal">. Except as otherwise provided herein, all communications hereunder shall be
in writing and, if to the Representative, shall be mailed, delivered or telecopied to Roth Capital Partners, LLC, 800 San Clemente
Drive, Suite 400, Newport Beach, CA 92660, telecopy number: (949) 720-7227, Attention: Managing Director; and if to the Company,
shall be mailed, delivered or telecopied to it at Centrus Energy Corp., 6901 Rockledge Drive, Suite 800, Bethesda, MD 20817, telecopy
number: (301) 564-3200, Attention: Chief Financial Officer; or in each case to such other address as the person to be notified
may have requested in writing. Any party to this Agreement may change such address for notices by sending to the parties to this
Agreement written notice of a new address for such purpose.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>12. Persons Entitled to Benefit of Agreement</B><FONT STYLE="font-style: normal">. This Agreement shall inure to the benefit
of and be binding upon the parties hereto and their respective successors and assigns and the controlling persons, officers and
directors referred to in Section 7. Nothing in this Agreement is intended or shall be construed to give to any other person, firm
or corporation any legal or equitable remedy or claim under or in respect of this Agreement or any provision herein contained.
The term &ldquo;successors and assigns&rdquo; as herein used shall not include any purchaser, as such purchaser, of any of the
Shares from any Underwriters.</FONT></P>

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

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

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>13. Absence of Fiduciary Relationship</B><FONT STYLE="font-style: normal">. The Company acknowledges and agrees that: (a) each
Underwriter has been retained solely to act as underwriter in connection with the sale of the Shares and that no fiduciary, advisory
or agency relationship between the Company and any Underwriter has been created in respect of any of the transactions contemplated
by this Agreement, irrespective of whether the Underwriter has advised or is advising the Company on other matters; (b) the price
and other terms of the Shares set forth in this Agreement were established by the Company following discussions and arms-length
negotiations with the Underwriters and the Company is capable of evaluating and understanding and understands and accepts the terms,
risks and conditions of the transactions contemplated by this Agreement; (c) it has been advised that the Underwriters and their
affiliates are engaged in a broad range of transactions that may involve interests that differ from those of the Company and that
no Underwriter has any obligation to disclose such interest and transactions to the Company by virtue of any fiduciary, advisory
or agency relationship; and (d) it has been advised that each Underwriter is acting, in respect of the transactions contemplated
by this Agreement, solely for the benefit of such Underwriter, and not on behalf of the Company.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>14. Amendments and Waivers</B><FONT STYLE="font-style: normal">. No supplement, modification or waiver of this Agreement shall
be binding unless executed in writing by the party to be bound thereby. The failure of a party to exercise any right or remedy
shall not be deemed or constitute a waiver of such right or remedy in the future. No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provision hereof (regardless of whether similar), nor shall any such
waiver be deemed or constitute a continuing waiver unless otherwise expressly provided. </FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>15. Partial Unenforceability</B><FONT STYLE="font-style: normal">. The invalidity or unenforceability of any section, paragraph,
clause or provision of this Agreement shall not affect the validity or enforceability of any other section, paragraph, clause or
provision. </FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>16. Governing Law</B><FONT STYLE="font-style: normal">. This Agreement shall be governed by and construed in accordance with
the laws of the State of New York.</FONT></P>

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>17. Submission to Jurisdiction</B><FONT STYLE="font-style: normal">. Each party hereto irrevocably (a) submits to the jurisdiction
of the Supreme Court of the State of New York, Borough of Manhattan or the United States District Court for the Southern District
of New York for the purpose of any suit, action, or other proceeding arising out of this Agreement, or any of the agreements or
transactions contemplated by this Agreement, the Registration Statement, the Time of Sale Disclosure Package, any Prospectus and
the Final Prospectus (each a &ldquo;<U>Proceeding</U>&rdquo;), (b) agrees that all claims in respect of any Proceeding may be heard
and determined in any such court, (c) waives, to the fullest extent permitted by law, any immunity from jurisdiction of any such
court or from any legal process therein, (d) agrees not to commence any Proceeding other than in such courts, and (e) waives, to
the fullest extent permitted by law, any claim that such Proceeding is brought in an inconvenient forum. EACH PARTY HERETO (ON
BEHALF OF ITSELF AND, TO THE FULLEST EXTENT PERMITTED BY LAW, ON BEHALF OF ITS RESPECTIVE EQUITY HOLDERS AND CREDITORS) HEREBY
WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM BASED UPON, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT
AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, THE REGISTRATION STATEMENT, THE TIME OF SALE DISCLOSURE PACKAGE, ANY PROSPECTUS
AND THE FINAL PROSPECTUS.</FONT></P>

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

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

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

<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>18. Counterparts.</B> <FONT STYLE="font-style: normal">This Agreement may be executed and delivered (including by facsimile
transmission or electronic mail) in one or more counterparts and, if executed in more than one counterpart, the executed counterparts
shall each be deemed to be an original and all such counterparts shall together constitute one and the same instrument.</FONT></P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Please sign and return
to the Company the enclosed duplicates of this letter whereupon this letter will become a binding agreement between the Company
and the several Underwriters in accordance with its terms.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 62%; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 5%; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 33%; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>Centrus Energy Corp.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Confirmed as of the date first above-mentioned</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">by the Representative of the several Underwriters</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0; text-align: justify; text-indent: 0"><B>ROTH CAPITAL PARTNERS, LLC</B></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 5%; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 33%; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 62%; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Name:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Aaron M. Gurewitz</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Title:</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">Head of Equity Capital Markets</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 8pt">[Signature
page to Underwriting Agreement]</FONT></P>

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

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2029400d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 5.1</B></P>

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

<P STYLE="text-align: right; margin: 0"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

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

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 30%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">O&rsquo;Melveny
                           &amp; Myers LLP</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Two Embarcadero Center<BR>
28&#7511;&#688; Floor<BR>
San Francisco, CA 94111-3823</FONT></P>
</TD>
    <TD STYLE="width: 27%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">T:
                           +1 415 984 8700</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">F: +1 415 984 8701</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">omm.com</FONT></P></TD>
    <TD STYLE="width: 43%"><P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">File
                           Number: 0145102-00015</FONT></P></TD></TR>
</TABLE>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 21, 2020</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">6901 Rockledge Drive, Suite 800</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bethesda, MD 20817</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Re: Registration of Class A Common Stock of Centrus Energy
Corp.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have acted as special counsel to Centrus Energy Corp., a
Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), in connection with the issuance of 2,350,000 shares of the Company&rsquo;s
class A common stock, par value $0.10 per share (the &ldquo;<B>Common Stock</B>&rdquo;) (collectively, the &ldquo;<B>Shares</B>&rdquo;)
pursuant to that certain Underwriting Agreement, dated August 21, 2020 (the &ldquo;<B>Underwriting Agreement</B>&rdquo;), between
the Company and Roth Capital Partners, LLC, as representative of the several underwriters named therein (collectively, the &ldquo;<B>Underwriters</B>&rdquo;).
The Shares are being issued pursuant to the shelf registration statement on Form S-3 (File No. 333-239242) (the &ldquo;<B>Registration
Statement</B>&rdquo;), filed by the Company with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) under
the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;) and declared effective by the Commission on August
5, 2018, the base prospectus filed together with the Registration Statement (the &ldquo;<B>Base Prospectus</B>&rdquo;), the preliminary
prospectus supplement dated August 17, 2020, the preliminary prospectus supplement dated August 20, 2020, and the final prospectus
supplement dated August 21, 2020 (collectively, the &ldquo;<B>Prospectus Supplements</B>&rdquo;). The Base Prospectus and the Prospectus
Supplements are collectively referred to as the &ldquo;<B>Prospectus</B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In our capacity as such counsel, we have examined originals
or copies, certified or otherwise identified to our satisfaction, of such corporate and other records and documents as we considered
necessary or appropriate for the purposes of rendering this opinion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In our examination, we have assumed the genuineness of all signatures,
the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted
to us as certified, conformed or photostatic copies and the authenticity of the originals of such documents. On the basis of such
examination and subject to the limitations and assumptions in this opinion, we are of the opinion that the Shares have been duly
authorized by all necessary corporate action on the part of the Company and, upon payment for and delivery of the Shares as contemplated
by the Registration Statements and Prospectus, the Shares will be validly issued, fully paid and non-assessable.</P>

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

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

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

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

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 7pt">Century City &bull; Los
Angeles &bull; Newport Beach &bull; New York &bull; San Francisco &bull; Silicon Valley &bull; Washington, DC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 7pt">Beijing &bull;
Brussels &bull; Hong Kong &bull; London &bull; Seoul &bull; Shanghai &bull; Singapore &bull; Tokyo</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The law covered by this opinion is limited to the present General
Corporation Law of the State of Delaware. We express no opinion as to the laws of any other jurisdiction and no opinion regarding
the statutes, administrative decisions, rules, regulations or requirements of any county, municipality, subdivision or local authority
of any jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We hereby consent to the filing of this opinion as an exhibit
to the Company&rsquo;s Current Report on Form 8-K dated August 21, 2020 and to the reference to this firm under the heading &ldquo;Legal
Matters&rdquo; in the Prospectus. In signing this consent, we do not admit that we are in the category of persons whose consent
is required under Section 7 of the Securities Act.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/ O&rsquo;Melveny &amp; Myers LLP</P>

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

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

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

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

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

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