<SEC-DOCUMENT>0001387131-21-007511.txt : 20210722
<SEC-HEADER>0001387131-21-007511.hdr.sgml : 20210722
<ACCEPTANCE-DATETIME>20210722082658
ACCESSION NUMBER:		0001387131-21-007511
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210716
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210722
DATE AS OF CHANGE:		20210722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Byrna Technologies Inc.
		CENTRAL INDEX KEY:			0001354866
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				711050654
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40385
		FILM NUMBER:		211106093

	BUSINESS ADDRESS:	
		STREET 1:		100 BURTT ROAD
		STREET 2:		SUITE 115
		CITY:			ANDOVER
		STATE:			MA
		ZIP:			01810
		BUSINESS PHONE:		978-868-5011

	MAIL ADDRESS:	
		STREET 1:		100 BURTT ROAD
		STREET 2:		SUITE 115
		CITY:			ANDOVER
		STATE:			MA
		ZIP:			01810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Security Devices International Inc.
		DATE OF NAME CHANGE:	20060301
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>byrn-8k_071621.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></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: 0; text-align: center">&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported): <B>July
16, 2021</B></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 30.15pt; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>333-132456</B></FONT></TD>
    <TD STYLE="padding-left: 30.15pt; text-align: center; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: black 1pt solid; padding-left: 30.15pt; text-align: center; width: 49%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>71-1050654</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 30.15pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-left: 30.15pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-left: 30.15pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>100 Burtt Road, Suite 115 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Andover, MA 01810</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(978) 868-5011</B></P>

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 7%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 93%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    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: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 33%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title
    of each class</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 34%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading
    Symbol(s)</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 33%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name
    of exchange on which registered</B></FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    Stock, $0.001 par value </FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BYRN</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq
    Capital Market</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging
growth company&nbsp;&#9744;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. &#9744;</FONT></P>

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

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July&nbsp;16, 2021, Byrna Technologies Inc. (the &ldquo;<U>Company</U>&rdquo;) entered into an underwriting agreement (the &ldquo;<U>Underwriting
Agreement</U>&rdquo;) with Raymond James &amp; Associates, Inc. as representatives of the several underwriters set forth on Schedule
I thereto (collectively the &ldquo;<U>Underwriters</U>&rdquo;), relating to the Company&rsquo;s public offering of its common stock,
par value $0.001 per share (the &ldquo;<U>Common Stock</U>&rdquo;). Under the Underwriting Agreement, the Company agreed to issue and
sell an aggregate of 2,500,000 shares of Common Stock to the Underwriters at a purchase price per share of approximately $19.74 (the
offering price to the public of $21.00 per share minus the underwriting discount and commissions) and also granted the Underwriters an
option (the &ldquo;<U>Option</U>&rdquo;) to purchase up to an additional 375,000 shares of Common Stock at the same price for a period
of 30 days following July&nbsp;16, 2021. The Underwriters exercised the Option in full on July&nbsp;16, 2021, and the sale of the 2,875,000
shares of Common Stock to the Underwriters closed on July&nbsp;20, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Underwriting Agreement includes customary representations, warranties and covenants by the Company. It also provides that the Company
will indemnify the Underwriters against certain liabilities under the Securities Act of 1933, as amended, or contribute to payments the
Underwriters may be required to make because of any of those liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of the Underwriters and their respective affiliates have, from time to time, performed, and may in the future perform, various investment
banking services for the Company for which they received or will receive customary fees and expenses.&nbsp;&nbsp;</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 9%; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item&nbsp;9.01.</B></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;&nbsp;Financial
    Statements and Exhibits.</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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  <TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 93%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibits.</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; background-color: #CCEEFF">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex1-1.htm">1.1</A></FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ex1-1.htm">Underwriting
    Agreement, dated July 16, 2021, between the Company and Raymond James &amp; Associates, Inc. as representatives of the underwriters
    named therein.</A></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 90.3pt; text-align: center; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SIGNATURES</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 hereunto duly authorized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5.95pt; text-indent: 22.5pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: black"><B>BYRNA
    TECHNOLOGIES INC</B></FONT><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</FONT></B></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:
    July 22, 2021</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 38%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;/s/
    Bryan Ganz</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
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    Bryan Ganz</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:
    Chief Executive Officer</FONT></P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-bottom: 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
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<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>ex1-1.htm
<DESCRIPTION>UNDERWRITING AGREEMENT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.75pt; margin-right: 0; margin-bottom: 0; text-align: left"><A HREF="byrn-8k_071621.htm">Byrna Technologies Inc. 8-K</A></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: right"><B>Exhibit 1.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXECUTION
VERSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.75pt 0 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0.75pt; margin-bottom: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2,500,000 Shares<SUP>*</SUP></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 14.6pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BYRNA
TECHNOLOGIES INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 14.35pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 14.35pt 0 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>UNDERWRITING AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">St.
Petersburg, Florida <BR>
July 16, 2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 27.75pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raymond
James &amp; Associates, Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
Representative of the Several Underwriters</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">listed
on Schedule I hereto</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.1pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">880
Carillon Parkway</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.15pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">St.
Petersburg, Florida 33716</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.55pt 0 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ladies
and Gentlemen:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Byrna
Technologies Inc., a Delaware corporation (the &ldquo;Company&rdquo;), proposes, subject to the terms and conditions stated herein,
to issue and sell an aggregate of 2,500,000 shares (the &ldquo;Firm Shares&rdquo;) of its common stock, par value $0.001 per share
(the &ldquo;Common Stock&rdquo;), to the several Underwriters named in Schedule I (the &ldquo;Underwriters&rdquo;) to this agreement
(the &ldquo;Agreement&rdquo;), for whom Raymond James &amp; Associates, Inc. (&ldquo;Raymond James&rdquo;) is acting as the representative
(the &ldquo;Representative&rdquo;). In addition, the Company has agreed to sell to the Underwriters an option (the &ldquo;Option&rdquo;)
to purchase up to an additional 375,000 shares of Common Stock (the &ldquo;Additional Shares&rdquo;) on the terms and condition
stated herein. The Firm Shares and the Additional Shares are collectively referred to in this Agreement as the &ldquo;Shares.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 14.05pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company wishes to confirm as follows its agreement with you and the other several Underwriters, on whose behalf you are acting,
in connection with the several purchases of the Shares from the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.25pt 0 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.25pt 0 0">* Plus an additional 375,000 shares subject to Underwriters&rsquo;
over-allotment option.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.9pt 0 0; text-indent: 0.55in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Registration
Statement and Prospectus</U>. The Company has prepared and filed with the Securities and Exchange Commission (the
&ldquo;Commission&rdquo;) in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and
regulations of the Commission thereunder (collectively, the &ldquo;Act&rdquo;) a registration statement on Form S-1 (File No.
333-256684), including a preliminary prospectus subject to completion, relating to the Shares. Such registration statement,
as amended, including the financial statements, exhibits and schedules thereto and information which is incorporated by
reference in or otherwise deemed by the rules and regulations of the Commission under the Act to be a part of or included in
the Registration Statement, at the time when it becomes effective and as thereafter amended by any post-effective amendment,
is referred to in this Agreement as the &ldquo;Registration Statement.&rdquo; The prospectus in the form included in the
Registration Statement or, if the prospectus included in the Registration Statement omits certain information in reliance
upon Rule 430A under the Act and such information is thereafter included in a prospectus filed with the Commission pursuant
to Rule 424(b) under the Act or as part of a post-effective amendment to the Registration Statement after the Registration
Statement becomes effective, the prospectus, as so filed, including the information which is incorporated by reference in or
otherwise deemed by the rules and regulations of the Commission under the Act to be a part of or included in the prospectus,
is referred to in this Agreement as the &ldquo;Prospectus.&rdquo; If the Company files another registration statement with
the Commission to register a portion of the Shares pursuant to Rule 462(b) under the Act (the &ldquo;Rule 462
Registration Statement&rdquo;), then any reference to &ldquo;Registration Statement&rdquo; herein shall be deemed to include
the registration statement on Form S-1 (File No. 333-256684) and the Rule 462 Registration Statement, as each such
registration statement may be amended pursuant to the Act. The prospectus subject to completion in the form included in the
Registration Statement at the time of the initial filing of such Registration Statement with the Commission and as such
prospectus is amended from time to time until the date of the Prospectus is referred to in this Agreement as the
&ldquo;Preliminary Prospectus.&rdquo; For purposes of this Agreement, &ldquo;free writing prospectus&rdquo; has the meaning
ascribed to it in Rule 405 under the Act, and &ldquo;Issuer Free Writing Prospectus&rdquo; shall mean each free writing
prospectus prepared by or on behalf of the Company or used or referred to by the Company in connection with the offering of
the Common Stock. &ldquo;Time of Sale Information&rdquo; shall mean the Preliminary Prospectus together with the free writing
prospectuses, if any, each identified in Schedule II hereto. All references in this Agreement to the Registration Statement,
the Rule 462 Registration Statement, a Preliminary Prospectus, the Prospectus or the Time of Sale Information, or any
amendments or supplements to any of the foregoing, shall be deemed to refer to and include any documents incorporated by
reference therein, and shall include any copy thereof filed with the Commission pursuant to its Electronic Data Gathering,
Analysis and Retrieval System (&ldquo;EDGAR&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.9pt 0 0; text-indent: 0.55in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Agreements
to Sell and Purchase</U>. Upon the terms and conditions set forth herein, the Company hereby agrees to issue and sell an
aggregate of 2,500,000 Firm Shares to the Underwriters. Upon the basis of the representations, warranties and agreements of
the Company herein contained and subject to all the terms and conditions set forth herein, each Underwriter agrees, severally
and not jointly, to purchase from the Company at a purchase price of $21.00 per Share (the &ldquo;purchase price per
Share&rdquo;), the number of Firm Shares set forth opposite the name of such Underwriter in Schedule I hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company hereby also agrees to sell to the Underwriters, and, upon the basis of the representations, warranties and agreements
of the Company herein contained and subject to all the terms and conditions set forth herein, the Underwriters shall have the
right for 30 days from the date of the Prospectus to purchase from the Company up to 375,000 Additional Shares at the purchase
price per Share for the Firm Shares. The Additional Shares may be purchased solely for the purpose of covering over-allotments,
if any, made in connection with the offering of the Firm Shares. If any Additional Shares are to be purchased, each Underwriter,
severally and not jointly, agrees to purchase the number of Additional Shares (subject to such adjustments as you may determine
to avoid fractional shares) that bears the same proportion to the total number of Additional Shares to be purchased by the Underwriter
as the number of Firm Shares set forth opposite the name of such Underwriter in Schedule I hereto bears to the total number of
Firm Shares. The option to purchase Additional Shares may be exercised at any time within 30 days after the date of the Prospectus,
but no more than once.&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.9pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Terms of Public Offering</U>. The Company has been advised by you that the Underwriters propose to make a public offering of
their respective portions of the Shares as soon after the Registration Statement and this Agreement have become effective as in
your judgment is advisable and initially to offer the Shares upon the terms set forth in the Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not
later than 12:00 p.m. on the second business day following the date the Shares are released by the Underwriters for sale to the
public, the Company shall deliver or cause to be delivered copies of the Prospectus in such quantities and at such places as the
Representative shall request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.65pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Delivery of the Shares and Payment Therefor</U>. Delivery to the Underwriters of the Firm Shares shall be made through the
facilities of the Depository Trust Company (&ldquo;DTC&rdquo;) against payment of the purchase price therefore by wire transfer
of immediately available funds to an account specified in writing at 10:00 a.m., St. Petersburg, Florida time, on July 20, 2021,
or such other place, time and date not later than 1:30 p.m., St. Petersburg, Florida time, on July 20, 2021 as the Representative
shall designate by notice to the Company (the time and date of such closing are called the &ldquo;Closing Date&rdquo;). The place
of closing for the Firm Shares and the Closing Date may be varied by agreement between the Representative and the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delivery
to the Underwriters of any Additional Shares to be purchased by the Underwriters shall be made through the facilities of DTC against
payment of the purchase price therefore by wire transfer of immediately available funds to an account specified in writing at
10:00 a.m., St. Petersburg, Florida time, on such date or dates (the &ldquo;Additional Closing Date&rdquo;) (which may be the
same as the Closing Date, but shall in no event be earlier than the Closing Date nor earlier than three nor later than ten business
days after the giving of the notice hereinafter referred to) as shall be specified in a written notice, from the Representative
on behalf of the Underwriters to the Company, of the Underwriters&rsquo; determination to purchase a number, specified in such
notice, of Additional Shares. Such notice may be given at any time within 30 days after the date of the Prospectus and must set
forth (i) the aggregate number of Additional Shares as to which the Underwriters are exercising the option and (ii) the names
and denominations in which the certificates for which the Additional Shares are to be registered. The place of closing for the
Additional Shares and the Additional Closing Date may be varied by agreement between you and the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.65pt 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Electronic
transfer of the Shares shall be made at the time of purchase in such names and in such denominations as the Representative shall
specify.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 per Share for the Firm Shares and the Additional Shares,
if any, that the Underwriters have agreed to purchase. Raymond James and Associates, Inc., individually and not as 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 the Additional 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Covenants and Agreements of the Company</U>. The Company covenants and agrees with the several Underwriters
as follows:</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will use its best efforts to cause the Registration Statement and any amendments thereto to become effective, if it
has not already become effective, and will advise you promptly and, if requested by you, will confirm such advice in writing (i)
when the Registration Statement has become effective and the time and date of any filing of any post-effective amendment to the
Registration Statement or any amendment or supplement to any Preliminary Prospectus or the Prospectus and the time and date that
any post-effective amendment to the Registration Statement becomes effective, (ii) if Rule 430A under the Act is employed, when
the Prospectus has been timely filed pursuant to Rule 424(b) under the Act, (iii) of the receipt of any comments of the Commission,
or any request by the Commission for amendments or supplements to the Registration Statement, any Preliminary Prospectus or the
Prospectus or for additional information, (iv) of the issuance by the Commission of any stop order suspending the effectiveness
of the Registration Statement or of the suspension of qualification of the Shares for offering or sale in any jurisdiction or
the initiation of any proceeding for such purposes and (v) within the period of time referred to in Section 5(g) hereof, of any
change in the Company&rsquo;s condition (financial or other), business, prospects, properties, net worth or results of operations,
or of any event that comes to the attention of the Company that makes any statement made in the Registration Statement or the
Prospectus (as then amended or supplemented) untrue in any material respect or that requires the making of any additions thereto
or changes therein in order to make the statements therein (in the case of the Prospectus, in light of the circumstances under
which they were made) not misleading in any material respect, or of the necessity to amend or supplement the Prospectus (as then
amended or supplemented) to comply with the Act or any other law. If at any time the Commission shall issue any stop order suspending
the effectiveness of the Registration Statement, the Company will make every reasonable effort to obtain the withdrawal or lifting
of such order at the earliest possible time. The Company will provide the Underwriters with copies of the form of Prospectus,
in such number as the Underwriters may reasonably request, and file with the Commission such Prospectus in accordance with Rule
424(b) under the Act before the close of business on the first business day immediately following the date hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will promptly file with the Commission any amendment or supplement to the Registration Statement or the Prospectus
that may, in the judgment of the Company or the Representative be required by the Act or requested by the Commission.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.35pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will furnish a copy of any amendment or supplement to the Registration Statement or to the Prospectus or any Issuer
Free Writing Prospectus to you and counsel for Underwriters and obtain your consent prior to filing any of those with the Commission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.55pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will not make any offer relating to the Common Stock that would constitute an Issuer Free Writing Prospectus without
your prior consent, which shall not be unreasonably withheld.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.9pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will retain in accordance with the Act all Issuer Free Writing Prospectuses not required to be filed pursuant to the
Act; and if at any time after the date hereof any events shall have occurred as a result of which any Issuer Free Writing Prospectus,
as then amended or supplemented, would conflict with the information in the Registration Statement, the most recent Preliminary
Prospectus or the Prospectus or would include an untrue statement of a material fact or omit 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, if
for any other reason it shall be necessary to amend or supplement any Issuer Free Writing Prospectus, to notify you and, upon
your request, to file such document and to prepare and furnish without charge to each Underwriter as many copies as they may from
time to time reasonably request of an amended or supplemented Issuer Free Writing Prospectus that will correct such conflict,
statement or omission or effect such compliance;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the execution and delivery of this Agreement, the Company has delivered or will deliver to you, without charge, in such
quantities as you have requested or may hereafter reasonably request, copies of each form of the Preliminary Prospectus. Consistent
with the provisions of Section 5(g) hereof, the Company consents to the use, in accordance with the provisions of the Act and
with the securities or state securities laws (the &ldquo;Blue Sky Laws&rdquo;) of the jurisdictions in which the Shares are offered
by the several Underwriters and by dealers, prior to the date of the Prospectus, of each Preliminary Prospectus so furnished by
the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
soon after the execution and delivery of this Agreement as is practicable and thereafter from time to time for such period as
in the reasonable opinion of counsel for the Underwriters a prospectus is required by the Act to be delivered in connection with
sales by any Underwriter or a dealer (the &ldquo;Prospectus Delivery Period&rdquo;), and for so long a period as you may request
for the distribution of the Shares, the Company will deliver to each Underwriter and each dealer, without charge, as many copies
of the Prospectus and the Time of Sale Information (and of any amendment or supplement thereto) as they may reasonably request.
The Company consents to the use of the Prospectus and the Time of Sale Information (and of any amendment or supplement thereto)
in accordance with the provisions of the Act and with the Blue Sky Laws of the jurisdictions in which the Shares are offered by
the several Underwriters and by all dealers to whom Shares may be sold, both in connection with the offering and sale of the Shares
and for such period of time thereafter as the Prospectus is required by the Act to be delivered in connection with sales by any
Underwriter or dealer. If at any time prior to the later of (i) the completion of the distribution of the Shares pursuant to the
offering contemplated by the Registration Statement or (ii) the expiration of prospectus delivery requirements with respect to
the Shares under the Act and Rule 174 thereunder, any event shall occur that in the judgment of the Company or in the opinion
of counsel for the Underwriters is required to be set forth in the Prospectus (as then amended or supplemented) or should be set
forth therein in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
or if it is necessary to supplement or amend the Prospectus to comply with the Act or any other law, the Company will forthwith
prepare and, subject to Section 5(a) hereof, file with the Commission and use its best efforts to cause to become effective as
promptly as possible an appropriate supplement or amendment thereto, and will furnish to each Underwriter who has previously requested
Prospectuses, without charge, a reasonable number of copies thereof.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will cooperate with you and counsel for the Underwriters in connection with the registration or qualification of the
Shares for offering and sale by the several Underwriters and by dealers under the securities or Blue Sky laws of such jurisdictions
as you may reasonably designate and will file such consents to service of process or other documents as may be reasonably necessary
in order to effect and maintain such registration or qualification for so long as required to complete the distribution of the
Shares; provided that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not
now so qualified or to take any action that would subject it to general service of process in suits, other than those arising
out of the offering or sale of the Shares, as contemplated by this Agreement and the Prospectus, in any jurisdiction where it
is not now so subject. In the event that the qualification of the Shares in any jurisdiction is suspended, the Company shall so
advise you promptly in writing. The Company will use its best efforts to qualify or register its Common Stock for sale in non-issuer
transactions under (or obtain exemptions from the application of) the Blue Sky Laws of each state where necessary to permit market
making transactions and secondary trading and will comply with such Blue Sky Laws and will continue the effectiveness of such
qualifications, registrations and exemptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.65pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will make generally available to its security holders a consolidated earnings statement (in form complying with the
provisions of Rule 158), which need not be audited, covering a twelve-month period commencing after the effective date of the
Registration Statement and the Rule 462 Registration Statement, if any, and ending not later than 15 months thereafter, as soon
as practicable after the end of such period, which consolidated earnings statement shall satisfy the provisions of Section 11(a)
of the Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During the period ending three years from the date hereof, the Company will furnish to you and, upon your request, to each of
the other Underwriters, (i) as soon as available, a copy of each proxy statement, quarterly or annual report or other report of
the Company mailed to stockholders or filed with the Commission, the Financial Industry Regulatory Authority, Inc. (&ldquo;FINRA&rdquo;)
or the Nasdaq Stock Market LLC (&ldquo;Nasdaq&rdquo;) or any national securities exchange and (ii) from time to time such other
information concerning the Company as you may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Agreement shall terminate or shall be terminated after execution pursuant to any provision hereof (except pursuant to a termination
under Section 12 hereof) or if this Agreement shall be terminated by the Underwriters because of any inability, failure or refusal
on the part of the Company to perform in all material respects any agreement herein or to comply in all material respects with
any of the terms or provisions hereof or to fulfill in all material respects any of the conditions of this Agreement, the Company
agrees to reimburse you and the other Underwriters for all documented out-of-pocket expenses (including travel expenses and reasonable
fees and expenses of counsel for the Underwriters, but excluding wages and salaries paid by you) reasonably incurred by you in
connection herewith.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.8pt 0 0; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will apply the net proceeds from the sale of the Shares to be sold by it hereunder in accordance in all material respects
with the statements under the caption &ldquo;Use of Proceeds&rdquo; in the Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.65pt 0 0; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For a period commencing on the date hereof and ending on the 180th day after the date of the Prospectus (the &ldquo;Lock-Up Period&rdquo;),
not to, directly or indirectly, (1) offer for sale, sell, pledge or otherwise dispose of (or enter into any transaction or device
that is designed to, or could be expected to, result in the disposition by any person at any time in the future of) any shares
of Common Stock or securities convertible into or exchangeable for Common Stock (other than the Common Stock issued pursuant to
employee benefit plans, qualified stock option plans or other employee compensation plans existing on the date hereof or pursuant
to currently outstanding options, warrants or rights), or sell or grant options, rights or warrants with respect to any shares
of Common Stock or securities convertible into or exchangeable for Common Stock (other than the grant of options pursuant to option
plans existing on the date hereof), (2) enter into any swap or other derivatives transaction that transfers to another, in whole
or in part, any of the economic benefits or risks of ownership of such shares of Common Stock, whether any such transaction described
in clause (1) or (2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) file or
cause to be filed a registration statement, including any amendments, with respect to the registration of any shares of Common
Stock or securities convertible, exercisable or exchangeable into Common Stock or any other securities of the Company (other than
the filing of a registration statement on Form S-8 in connection with the Company&rsquo;s equity incentive plans and a re-sale
registration statement on Form S-1) or (4) publicly disclose the intention to do any of the foregoing, in each case without the
prior written consent of the Representative on behalf of the Underwriters, and to cause each executive officer and director of
the Company to furnish to the Representative, prior to the Initial Delivery Date, a letter or letters, substantially in the form
of <U>Exhibit A</U> hereto (the &ldquo;Lock-Up Agreements&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior to the Closing Date or the Additional Closing Date, as the case may be, the Company will furnish to you, as promptly as
possible, copies of any unaudited interim consolidated financial statements of the Company and its subsidiaries for any period
subsequent to the periods covered by the financial statements appearing in the Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.65pt 0 0; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will comply with all provisions of any undertakings contained in the Registration Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 13.95pt 0 0; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will not at any time, directly or indirectly, take any action designed, or which might reasonably be expected to cause
or result in, or which will constitute, stabilization or manipulation of the price of the shares of Common Stock to facilitate
the sale or resale of any of the Shares.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company will timely file with Nasdaq all documents and notices required by the Nasdaq of companies that have or will issue securities
that are traded on the Nasdaq.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties of the Company</U>. The Company hereby represents and warrants to each Underwriter on the date hereof, and shall
be deemed to represent and warrant to each Underwriter on the Closing Date and the Additional Closing Date, as the case may be,
that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company was not at the time of initial filing of the Registration Statement and at the earliest time thereafter that the Company
or another offering participant made a bona fide offer (within the meaning of Rule 164(h)(2) of the Act) under the Common Stock,
is not on the date hereof and will not be on the applicable Delivery Date an &ldquo;ineligible issuer&rdquo; (as defined in Rule
405 under the Act).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement conformed, and any amendment to the Registration Statement filed after the date hereof will conform
in all material respects when filed, to the requirements of the Act. The most recent Preliminary Prospectus conformed, and the
Prospectus will conform, in all material respects when filed with the Commission pursuant to Rule 424(b).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement 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; provided that no representation or warranty is
made as to the Furnished Information (as defined in Section 13 below).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Prospectus 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;
provided that no representation or warranty is made as to the Furnished Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Time of Sale Information does not, and will not at the time of sale of the Shares, 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; provided that no representation or warranty is made as to the
Furnished Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Issuer Free Writing Prospectus (including, without limitation, any road show that is a free writing prospectus under Rule 433
under the Act), when considered together with the Time of Sale Information at the time of sale of the Shares, did 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.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
Issuer Free Writing Prospectus conformed or will conform in all material respects to the requirements of the Act on the date
of first use, and the Company has complied with all prospectus delivery and any filing requirements applicable to such Issuer
Free Writing Prospectus pursuant to the Act. The Company has not made any offer relating to the Stock that would constitute an
Issuer Free Writing Prospectus without the prior written consent of the Representative. The Company has retained in accordance
with the Act all Issuer Free Writing Prospectuses that were not required to be filed pursuant to the Act. The Company has taken
all actions necessary so that any &ldquo;road show&rdquo; (as defined in Rule 433 under the Act) in connection with the offering
of the Stock will not be required to be filed pursuant to the Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The capitalization of the Company is and will be as set forth in the Registration Statement, the Time of Sale Information and
the Prospectus as of the date set forth therein. All the outstanding shares of Common Stock of the Company have been, and as of
the Closing Date and the Additional Closing Date, as the case may be, will be, duly authorized and validly issued, are fully paid
and nonassessable and are free of any preemptive or similar rights; except as set forth in the Registration Statement, the Time
of Sale Information and the Prospectus, the Company is not a party to or bound by any outstanding options, warrants or similar
rights to subscribe for, or contractual obligations to issue, sell, transfer or acquire, any of its capital stock or any securities
convertible into or exchangeable for any of such capital stock; the Shares to be issued and sold to the Underwriters by the Company
hereunder have been duly authorized and, when issued and delivered to the Underwriters against full payment therefor in accordance
with the terms hereof will be validly issued, fully paid and nonassessable and free of any preemptive or similar rights; the capital
stock of the Company conforms to the description thereof in the Registration Statement, the Time of Sale Information and the Prospectus
(or any amendment or supplement thereto); and the delivery of certificates for the Shares being sold by the Company against payment
therefor pursuant to the terms of this Agreement will pass valid title to the Shares being sold by the Company, free and clear
of any claim, encumbrance or defect in title, to the several Underwriters purchasing such shares in good faith and without notice
of any lien, claim or encumbrance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries is duly organized and validly existing as a corporation, limited liability company or
other organization in good standing under the laws of the jurisdiction of its incorporation or organization with full corporate
or organizational power and authority to own, lease and operate its properties and to conduct its business as presently conducted
and as described in the Registration Statement, the Time of Sale Information and the Prospectus (and any amendment or supplement
thereto) in all material respects and is duly registered and qualified to conduct its business and is in good standing in each
jurisdiction or place where the nature of its properties or the conduct of its business requires such registration or qualification,
except where the failure to so register or qualify has not had or will not have a material adverse effect on the condition (financial
or other), business, properties, net worth, results of operations or prospects of the Company and its subsidiaries taken as a
whole (a &ldquo;Material Adverse Effect&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
issued shares of capital stock of each of the Company&rsquo;s subsidiaries have been duly authorized and validly issued, are fully
paid and nonassessable and are owned by the Company free and clear of any security interests, liens, encumbrances, equities or
claims. The Company does not have any subsidiaries and does not own a material interest in or control, directly or indirectly,
any other corporation, partnership, joint venture, association, trust or other business organization, except as set forth in Exhibit
21 to the Registration Statement. As used in this Agreement, subsidiaries shall mean direct and indirect subsidiaries of the Company.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are no legal or governmental proceedings pending or, to the best knowledge of the Company, threatened, against the Company
or its subsidiaries or to which the Company or its subsidiaries or any of their properties are subject, in each case, that are
required to be described in the Registration Statement or the Prospectus (or any amendment or supplement thereto) but are not
described as required. Except as described in the Registration Statement, the Time of Sale Information and Prospectus, there is
no action, suit, inquiry, proceeding or investigation by or before any court or governmental or other regulatory or administrative
agency or commission pending or, to the knowledge of the Company, threatened, against or involving the Company or its subsidiaries,
which might individually or in the aggregate prevent or adversely affect the transactions contemplated by this Agreement or result
in a Material Adverse Effect, nor to the Company&rsquo;s knowledge, is there any basis for any such action, suit, inquiry, proceeding
or investigation. There are no agreements, contracts, indentures, leases or other instruments that are required to be described
in the Registration Statement, the Time of Sale Information or the Prospectus (or any amendment or supplement thereto) or to be
filed as an exhibit to the Registration Statement that are not described, filed or incorporated by reference in the Registration
Statement, the Time of Sale Information and the Prospectus as required by the Act. All such contracts to which the Company or
any of its subsidiaries is a party have been duly authorized, executed and delivered by the Company or the applicable subsidiary,
constitute valid and binding agreements of the Company or the applicable subsidiary and are enforceable against the Company or
the applicable subsidiary in accordance with the terms thereof, except as enforceability thereof may be limited by (i) the application
of bankruptcy, reorganization, insolvency and other laws affecting creditors&rsquo; rights generally and (ii) equitable principles
being applied at the discretion of a court before which any proceeding may be brought. Neither the Company nor the applicable
subsidiary has received notice or been made aware that any other party is in breach of or default to the Company under any of
such contracts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the Company nor any of its subsidiaries is (i) in violation of (A) its certificate of incorporation or bylaws, or other organizational
documents, (B) any federal, state or foreign law, ordinance, administrative or governmental rule or regulation applicable to the
Company or any of its subsidiaries, in each case, the violation of which would have a Material Adverse Effect or (C) any decree
of any federal, state or foreign court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries;
or (ii) in default in any material respect in the performance of any obligation, agreement or condition contained in (A) any bond,
debenture, note or any other evidence of indebtedness or (B) any agreement, indenture, lease or other instrument (each of (A)
and (B), an &ldquo;Existing Instrument&rdquo;) to which the Company or any of its subsidiaries is a party or by which any of their
properties may be bound, which default would have a Material Adverse Effect; and there does not exist any state of facts that
constitutes an event of default on the part of the Company or any of its subsidiaries as defined in such documents or that, with
notice or lapse of time or both, would constitute such an event of default.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(m)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&rsquo;s execution and delivery of this Agreement and the performance by the Company of its obligations under this
Agreement have been duly and validly authorized by the Company and has been duly executed and delivered by the Company, and this
Agreement constitutes a valid and legally binding agreement of the Company, enforceable against the Company in accordance with
its terms, except to the extent enforceability may be limited by (i) the application of bankruptcy, reorganization, insolvency
and other laws affecting creditors&rsquo; rights generally and (ii) equitable principles being applied at the discretion of a
court before which any proceeding may be brought, except as rights to indemnity and contribution hereunder may be limited by federal
or state securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(n)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None of the issuance and sale of the Shares by the Company, the execution, delivery or performance of this Agreement by the Company
nor the consummation by the Company of the transactions contemplated hereby (i) requires any consent, approval, authorization
or other order of or registration or filing with, any court, regulatory body, administrative agency or other governmental body,
agency or official (except such as may be required for the registration of the Shares under the Act, the listing of the Shares
for trading on the Nasdaq, the registration of the Common Stock under the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission thereunder (collectively, the &ldquo;Exchange Act&rdquo;) and compliance with the securities
or Blue Sky Laws of various jurisdictions, all of which will be, or have been, effected in accordance with this Agreement and
except for FINRA&rsquo;s clearance of the underwriting terms of the offering contemplated hereby as required under FINRA&rsquo;s
Rules of Fair Practice), (ii) conflicts with or will conflict with or constitutes or will constitute a breach of, or a default
under, the Company&rsquo;s certificate of incorporation or the Company&rsquo;s bylaws or any agreement, indenture, lease or other
instrument to which the Company or any of its subsidiaries is a party or by which any of its properties may be bound, (iii) violates
any statute, law, regulation, ruling, filing, judgment, injunction, order or decree applicable to the Company or any of its subsidiaries
or any of their properties, or (iv) results in a breach of, or default under, or results in the creation or imposition of any
lien, charge or encumbrance upon any property or assets of the Company or any of its subsidiaries pursuant to, or requires the
consent of any other party to, any Existing Instrument, in each case, except for such conflicts, breaches, defaults, liens, charges
or encumbrances that will not, individually or in the aggregate, result in a Material Adverse Effect.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(o)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as described in the Time of Sale Information and the Prospectus, neither the Company nor any of its subsidiaries has outstanding
and at the Closing Date and the Additional Closing Date, as the case may be, will have outstanding any options to purchase, or
any warrants to subscribe for, or any securities or obligations convertible into, or any contracts or commitments to issue or
sell, any shares of Common Stock or any such warrants or convertible securities or obligations. No holder of securities of the
Company has rights to the registration of any securities of the Company as a result of or in connection with the filing of the
Registration Statement or the consummation of the transactions contemplated hereby that have not been satisfied or heretofore
waived in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(p)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EisnerAmper
LLP, the certified public accountants who have certified the financial statements (including the related notes thereto and supporting
schedules) for the fiscal year ended November 30, 2020, and Mayer Hoffman McCann CPAs, the New York Practice of Mayer Hoffman
McCann P.C., the certified public accountants who have certified the financial statements (including the related notes thereto
and supporting schedules) for the fiscal year ended November 30, 2019, filed as part of the Registration Statement and the Prospectus
(or any amendment or supplement thereto), are (i) independent public accountants as required by the Act, the Exchange Act and
by the rules of the Public Company Accounting Oversight Board (United States) (the &ldquo;<U>PCAOB</U>&rdquo;); (ii) in compliance
with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X under the Act,
and (iii) registered public accounting firms as defined by the PCAOB whose registrations have not been suspended or revoked and
who have not requested such registrations to be withdrawn.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(q)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise reflected in the Company&rsquo;s Exchange Act filings, the Company has been in compliance in all material
respects with the reporting requirements of Section 13 or Section 15(d) of the Exchange Act, and has timely filed all reports
required to be filed pursuant to the Exchange Act, during the preceding 12 months. All reports required to be filed pursuant to
the Exchange Act, when they respectively were filed with the Commission, conformed in all material respects to the requirements
of the Exchange Act and the applicable rules and regulations, and none of such documents, when they respectively were filed with
the Commission, contained any untrue statement of a material fact or omitted to state a material fact necessary to make the statements
therein in light of the circumstances under which they were made not misleading. There are no documents required to be filed with
the Commission in connection with the transaction contemplated hereby that (A) have not been filed as required pursuant to the
Act or (B) will not be filed within the requisite time period. There are no contracts or other documents required to be described
in the Registration Statement and the Prospectus, or to be filed as exhibits or schedules to the Registration Statement, which
have not been described or filed as required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(r)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in the Registration Statement, the Time of Sale Information and the Prospectus (or any amendment or supplement
thereto), (i) neither the Company nor any of its subsidiaries has incurred any material liabilities or obligations, indirect,
direct or contingent, or entered into any transaction that is not in the ordinary course of business, (ii) neither the Company
nor any of its subsidiaries has sustained any material loss or interference with its business or properties from fire, flood,
windstorm, accident or other calamity, whether or not covered by insurance, (iii) neither the Company nor any of its subsidiaries
has paid or declared any dividends or other distributions with respect to its capital stock and the Company is not in default
under the terms of any class of capital stock of the Company or any outstanding debt obligations, (iv) there has not been any
change in the authorized or outstanding capital stock of the Company or any material change in the indebtedness of the Company
(other than in the ordinary course of business) and (v) there has not been any material adverse change, or any development involving
or that may reasonably be expected to result in a Material Adverse Effect, in the condition (financial or otherwise), business,
properties, net worth, result of operations or prospects of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(s)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
offers and sales of the Company&rsquo;s capital stock and other debt or other securities prior to the date hereof were made in
compliance with or were the subject of an available exemption from the Act and all other applicable state and federal laws or
regulations, or any actions under the Act or any state or federal laws or regulations in respect of any such offers or sales are
effectively barred by effective waivers or statutes of limitation.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(t)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Common Stock (including the Shares) is registered pursuant to Section 12(b) of the Exchange Act and is listed on the Nasdaq,
and the Company has taken no action designed to, or likely to have the effect of, terminating the registration of the Common Stock
under the Exchange Act or delisting the Common Stock from the Nasdaq, nor has the Company received any notification that the Commission
or the Nasdaq is contemplating terminating such registration or listing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(u)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has not taken and will not take, directly or indirectly, any action that constituted, or any action designed to, or
that might reasonably be expected to cause or result in or constitute, under the Act or otherwise, stabilization or manipulation
of the price of any security of the Company to facilitate the sale or resale of the Shares or for any other purpose.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries have filed all tax returns required to be filed (other than certain state, local, or
foreign tax returns, as to which the failure to file, individually or in the aggregate, would not have a Material Adverse Effect),
which returns are materially complete and correct, and neither the Company nor any subsidiary is in default in the payment of
any taxes that were payable pursuant to said returns or any assessments with respect thereto other than amounts subject to good
faith disputes. Except as disclosed in the Time of Sale Information and the Prospectus, all deficiencies asserted as a result
of any federal, state, local or foreign tax audits have been paid or finally settled and no issue has been raised in any such
audit that, by application of the same or similar principles, reasonably could be expected to result in a proposed deficiency
for any other period not so audited. There are no outstanding agreements or waivers extending the statutory period of limitation
applicable to any federal, state, local or foreign tax return for any period. On the Closing Date and the Additional Closing Date,
as the case may be, all stock transfer and other taxes that are required to be paid in connection with the sale of the shares
to be sold by the Company to the Underwriters will have been fully paid by the Company and all laws imposing such taxes will have
been complied with.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(w)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as set forth in the Time of Sale Information and the Prospectus, there are no transactions with &ldquo;affiliates&rdquo;
(as defined in Rule 405 under the Act) or any officer, director or security holder of the Company (whether or not an affiliate)
that are required by the Act to be disclosed in the Registration Statement. Additionally, no relationship, direct or indirect,
exists between the Company or any of its subsidiaries on the one hand, and the directors, officers, stockholders, customers or
suppliers of the Company or any subsidiary on the other hand that is required by the Act to be disclosed in the Registration Statement,
the Time of Sale Information and the Prospectus that is not so disclosed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(x)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is not an &ldquo;investment company&rdquo; or an &ldquo;affiliated person&rdquo; of, or &ldquo;promoter&rdquo; or &ldquo;principal
underwriter&rdquo; for, an investment company within the meaning of the Investment Company Act of 1940, as amended.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(y)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries has good and valid title to all property (real and personal) described in the Time of
Sale Information and the Prospectus as being owned by it, free and clear of all liens, claims, security interests or other encumbrances
except (i) such as are described in the Time of Sale Information and the Prospectus or (ii) such as are not materially burdensome
and do not have or will not result in a Material Adverse Effect to the use of the property or the conduct of the business of the
Company. All property (real and personal) held under lease by the Company and its subsidiaries is held by it under valid, subsisting
and enforceable leases with only such exceptions as in the aggregate are not materially burdensome and do not have or result in
a Material Adverse Effect to the use of the property or the conduct of the business of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(z)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries has all permits, licenses, franchises, approvals, consents and authorizations of governmental
or regulatory authorities (hereinafter &ldquo;permit&rdquo; or &ldquo;permits&rdquo;) as are necessary to own its properties and
to conduct its business in the manner described in the Registration Statement, the Time of Sale Information and the Prospectus,
subject to such qualifications as may be set forth in the Time of Sale Information and the Prospectus, except where the failure
to have obtained any such permit has not had and will not have a Material Adverse Effect; each of the Company and its subsidiaries
has operated and is operating its business in material compliance with and not in material violation of its obligations with respect
to each such permit and no event has occurred that allows, or after notice or lapse of time would allow, revocation or termination
of any such permit or result in any other material impairment of the rights of any such permit, subject in each case to such qualification
as may be set forth in the Time of Sale Information and the Prospectus; and, except as described in the Time of Sale Information
and the Prospectus, such permits contain no restrictions that are materially burdensome to the Company or any of its subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(aa)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of the Company, together with the related schedules
and notes thereto, set forth or incorporated by reference in the Registration Statement, the Time of Sale Information and the
Prospectus present fairly in all material respects (i) the financial condition of the Company and its consolidated subsidiaries
as of the dates indicated and (ii) the consolidated results of operations, stockholders&rsquo; equity and changes in cash flows
of the Company and its consolidated subsidiaries for the periods therein specified; and such financial statements and related
schedules and notes thereto have been prepared in conformity with United States generally accepted accounting principles, consistently
applied throughout the periods involved (except as otherwise stated therein and subject, in the case of unaudited financial statements,
to the absence of footnotes and normal year-end adjustments). The pro forma financial statements and the other pro forma financial
information included in the Registration Statement, the Time of Sale Information and the Prospectus have been prepared in accordance
with the Commission&rsquo;s rules and guidelines with respect to pro forma financial statements in all material respects and have
been properly computed on the bases described therein. The assumptions used in the preparation of the pro forma financial statements
and other pro forma financial information included in the Registration Statement, the Time of Sale Information and the Prospectus
are reasonable and the adjustments used therein are appropriate to give effect to the transactions or circumstances referred to
therein. There are no other financial statements (historical or pro forma) that are required to be included or incorporated by
reference in the Time of Sale Information and the Prospectus; and the Company does not have any material liabilities or obligations,
direct or contingent (including any off-balance sheet obligations), not disclosed in the Time of Sale Information and the Prospectus;
and all disclosures contained in the Time of Sale Information and the Prospectus regarding &ldquo;non-GAAP financial measures&rdquo;
(as such term is defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item
10(e) of Regulation S-K under the Act, to the extent applicable, and present fairly the information shown therein and the Company&rsquo;s
basis for using such measures. The interactive data in eXtensible Business Reporting Language included or incorporated by reference
in the Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance
with the Commission&rsquo;s rules and guidelines applicable thereto in all material respects.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(bb)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as disclosed in the Registration Statement, the Time of Sale Information and the Prospectus, the Company and its subsidiaries
maintain a system of internal accounting controls sufficient to provide reasonable assurances 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 generally accepted accounting principles and to maintain accountability
for assets, (iii) access to assets is permitted only in accordance with management&rsquo;s general or specific authorizations
and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action
is taken with respect to any differences.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(cc)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has established and maintains and evaluates &ldquo;disclosure controls and procedures&rdquo;
(as such term is defined in Rule 13a-15 and 15d-15 under the Exchange Act); such disclosure controls and procedures are designed
to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to the Company&rsquo;s
Chief Executive Officer and its Chief Financial Officer by others within those entities, and such disclosure controls and procedures
are effective to perform the functions for which they were established, except as otherwise disclosed in the Registration Statement,
the Time of Sale Information and the Propsectus; the Company&rsquo;s independent auditors and the Audit Committee of the Board
of Directors of the Company have been advised of (i) all significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which could adversely affect the Company&rsquo;s ability to record, process, summarize
and report financial data and (ii) any fraud, whether or not material, that involves management or other employees who have a
significant role in the Company&rsquo;s internal control over financial reporting; since the date of the most recent evaluation
of such disclosure controls and procedures; except as described in the Registration Statement, the Preliminary Prospectus and
the Prospectus, there have been no significant changes in internal control over financial reporting or in other factors that could
significantly affect internal control over financial reporting, including any corrective actions with regard to significant deficiencies
and material weaknesses; the principal executive officers (or their equivalents) and principal financial officers (or their equivalents)
of the Company have made all certifications required by the Sarbanes-Oxley Act (the &ldquo;Sarbanes-Oxley Act&rdquo;) and any
related rules and regulations promulgated by the Commission, and the statements contained in each such certification are complete
and correct; the Company and its subsidiaries are, and the Company has taken all necessary actions to ensure that the Company&rsquo;s
directors and officers in their capacities as such are, each in compliance in all material respects with all applicable effective
provisions of the Sarbanes-Oxley Act and the rules and regulations of the Commission and Nasdaq promulgated thereunder.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(dd)
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company and, to the knowledge of the Company, the Company&rsquo;s directors or officers, in their capacities as
such, are each in compliance in all material respects with Section 402 of the Sarbanes-Oxley Act and the rules and regulations
promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ee)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has not,
prior to the date hereof, made any offer or sale of securities which could be &ldquo;integrated&rdquo; for purposes of the Act
with the offer and sale of the Shares pursuant to the Registration Statement and the Prospectus; and except as disclosed in the
Time of Sale Information and the Prospectus, the Company has not sold or issued any security during the 180-day period preceding
the date of the Prospectus, including but not limited to any sales pursuant to Rule 144A or Regulation D or S under the Act, other
than shares of Common Stock used pursuant to employee benefit plans, qualified stock option plans or the employee compensation
plans or pursuant to outstanding options, rights or warrants as described in the Time of Sale Information and the Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ff)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any
director, officer, agent, employee or affiliate 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;Foreign Corrupt Practices Act&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
Foreign Corrupt Practices Act) or any foreign political party or official thereof or any candidate for foreign political
office, in contravention of the Foreign Corrupt Practices Act; and the Company, its subsidiaries and, to the knowledge of the
Company, its affiliates have conducted their businesses in compliance in all material respects with the Foreign Corrupt
Practices Act and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected
to continue to ensure, continued compliance in all material respects therewith.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(gg)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any
director, officer, agent, employee or affiliate 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. Department of the Treasury (&ldquo;OFAC&rdquo;), the United Nations
Security Council, the European Union, Her Majesty&rsquo;s Treasury or other relevant sanctions authority (collectively, &ldquo;Sanctions&rdquo;);
and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available
such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities
of any person currently subject to any Sanctions. Further, neither the Company nor any of its subsidiaries, nor any of their directors,
officers or employees, nor, to the Company&rsquo;s knowledge, any agent, affiliate or representative of the Company or its subsidiaries,
is an individual or entity that is, or is owned or controlled by an individual or entity that is subject to any Sanctions and
is located, organized or resident in a country or territory that is the subject of Sanctions (including, without limitation, Burma/Myanmar,
Cuba, Iran, Libya, North Korea, Sudan and Syria).</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(hh)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 &ldquo;United and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001&rdquo; or 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 agency.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
labor problem or dispute with the employees of the Company or any of its subsidiaries exists, or, to the Company&rsquo;s knowledge,
is threatened or imminent, which would reasonably be expected to result in a Material Adverse Effect. The Company is not aware
that any key employee or significant group of employees of the Company or any of its subsidiaries plans to terminate employment
with the Company or any of its subsidiaries. Neither the Company nor any of its subsidiaries has engaged in any unfair labor practice,
and except for matters which would not, individually or in the aggregate, result in a Material Adverse Effect, (i) there is (A)
no unfair labor practice complaint pending or, to the Company&rsquo;s knowledge, threatened against the Company or any of its
subsidiaries before the National Labor Relations Board, and no grievance or arbitration proceeding arising out of or under collective
bargaining agreements is pending or to the Company&rsquo;s knowledge, threatened, (B) no strike, labor dispute, slowdown or stoppage
pending or, to the Company&rsquo;s knowledge, threatened against the Company or any of its subsidiaries and (C) no union representation
dispute currently existing concerning the employees of the Company or any of its subsidiaries and (ii) to the Company&rsquo;s
knowledge, (A) no union organizing activities are currently taking place concerning the employees of the Company or any of its
subsidiaries and (B) there has been no violation of any federal, state, local or foreign law relating to discrimination in the
hiring, promotion or pay of employees, any applicable wage or hour laws or any provision of the Employee Retirement Income Security
Act of 1974 (&ldquo;ERISA&rdquo;) or the rules and regulations promulgated thereunder concerning the employees of the Company
or any of its subsidiaries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(jj)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;The Company and its subsidiaries are (i) in compliance with any and all applicable
federal, state, local and foreign laws and regulations relating to the protection of human health and safety, the environment
or hazardous or toxic substances or wastes, pollutants or contaminants (&ldquo;Environmental Laws&rdquo;), (ii) have received
all permits, licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses
and (iii) are in compliance with all terms and conditions of any such permit, license or approval, except where such noncompliance
with Environmental Laws, failure to receive required permits, licenses or other approvals or failure to comply with the terms
and conditions of such permits, licenses or other approvals, in each case, would not, individually or in the aggregate, have a
Material Adverse Effect. Neither the Company nor any of its subsidiaries has been named as a &ldquo;potentially responsible party&rdquo;
under the Comprehensive Environmental Response Compensation and Liability Act of 1980, as amended. Neither the Company nor any
of its subsidiaries owns, leases or occupies any property that appears on any list of hazardous sites compiled by any state or
local governmental agency. There are no costs or liabilities associated with Environmental Laws (including, without limitation,
any capital or operating expenditures required for clean-up, closure of properties or compliance with Environmental Laws or any
permit, license or approval, any related constraints on operating activities and any potential liabilities to third parties) which
would, individually or in the aggregate, result in a Material Adverse Effect.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(kk)
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries owns and has full right, title and interest
in and to, or has valid licenses to use, each material trade name, trademark, service mark, patent, copyright, approval, trade
secret and other similar rights (collectively &ldquo;Intellectual Property&rdquo;) under which the Company and its subsidiaries
conduct all or any material part of its business, and the Company has not created any lien or encumbrance on, or granted any right
or license with respect to, any such Intellectual Property except where the failure to own or obtain a license or right to use
any such Intellectual Property has not and will not have a Material Adverse Effect; there is no claim pending against the Company
or its subsidiaries with respect to any Intellectual Property and the Company and its subsidiaries have not received notice or
otherwise become aware that any Intellectual Property that it uses or has used in the conduct of its business infringes upon or
conflicts with the rights of any third party. Neither the Company nor any of its subsidiaries has become aware that any material
Intellectual Property that it uses or has used in the conduct of its business infringes upon or conflicts with the rights of any
third party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ll)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company has procured Lock-Up Agreements, in the form of Exhibit A attached hereto,
from each of the Company&rsquo;s senior executive officers and directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(mm)

&nbsp;&nbsp;To the Company&rsquo;s knowledge, there are no affiliations or associations between (i) any member of FINRA and (ii) the Company
or any of the Company&rsquo;s officers, directors, 5% or greater security holders or any beneficial owner of the Company&rsquo;s
unregistered equity securities that were acquired at any time on or after the 180th day immediately preceding the date the Registration
Statement was initially filed with the Commission, except Alan Meltzer or as otherwise disclosed in the Registration Statement,
the Time of Sale Information and the Prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(nn)

&nbsp;&nbsp;&nbsp;&nbsp;The Company and each of its subsidiaries are insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as are prudent and customary in the businesses in which it is engaged; and neither the Company nor any
of its subsidiaries has knowledge that it will not be able to renew its existing insurance coverage as and when such coverage
expires or to obtain similar coverage from similar insurers as may be necessary to continue its business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(oo)
  &nbsp;&nbsp;&nbsp;&nbsp;The Company and its subsidiaries and any &ldquo;employee benefit plan&rdquo; (as defined under ERISA)
established or maintained by the Company, its subsidiaries or their &ldquo;ERISA Affiliates&rdquo; (as defined below) are in compliance
in all material respects with ERISA and all other applicable state and federal laws. &ldquo;ERISA Affiliate&rdquo; means, with
respect to the Company or a subsidiary, any member of any group or organization described in Sections 414(b), (c), (m) or (o)
of the Code of which the Company or such subsidiary is a member. No &ldquo;reportable event&rdquo; (as defined in ERISA) has occurred
or is reasonably expected to occur with respect to any &ldquo;employee benefit plan&rdquo; established or maintained by the Company,
its subsidiaries or any of their ERISA Affiliates. No &ldquo;employee benefit plan&rdquo; established or maintained by the Company,
its subsidiaries or any of their ERISA Affiliates, if such &ldquo;employee benefit plan&rdquo; was terminated, would have any
&ldquo;amount of unfunded benefit liabilities&rdquo; (as defined in ERISA). Neither the Company, its subsidiaries nor any of their
ERISA Affiliates has incurred or reasonably expects to incur any liability under (i) Title IV of ERISA with respect to termination
of, or withdrawal from, any &ldquo;employee benefit plan&rdquo; or (ii) Sections 412, 4971, 4975 or 4980B of the Code. Each &ldquo;employee
benefit plan&rdquo; established or maintained by the Company, its subsidiaries or any of their ERISA Affiliates that is intended
to be qualified under Section 401(a) of the Code is so qualified and nothing has occurred, whether by action or failure to act,
that would cause the loss of such qualification.</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(pp)

  &nbsp;&nbsp;&nbsp;&nbsp;To the knowledge of the Company, no person has obtained unauthorized access to personally identifiable information (&ldquo;Personal
Information&rdquo;) in the possession of the Company or its subsidiaries, nor has there been any other compromise of the security,
confidentiality or integrity of such information or data. The Company and its subsidiaries have complied in all material respects
with (i) all applicable laws relating to privacy, personal data security and protection, and the collection, processing and use
of Personal Information (collectively, &ldquo;Privacy Laws&rdquo;); (ii) the Payment Card Industry Data Security Standards (the
&ldquo;PCI DSS&rdquo;), and (iii) their own internal employee-facing and external customer-facing privacy and data security policies
and guidelines. The Company and its subsidiaries do not violate, and have not violated, any right to privacy or publicity of any
third person in any material respect, including through the violation of any applicable Privacy Laws or the PCI DSS. Neither the
Company nor its subsidiaries has received any notice, claim or demand from (i) a Governmental Entity asserting or claiming that
the Company or any of its subsidiaries has violated or has failed to comply with any Privacy Law or (ii) any person asserting
a breach of a Privacy Law or seeking compensation for breach of a Privacy Law. Neither the Company nor any of its subsidiaries
has notified or has been required or obligated to notify any person with respect to a breach of privacy or security, or unauthorized
misappropriation, access or use of, any Personal Information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(qq)
  &nbsp;&nbsp;&nbsp;&nbsp;Each product designed, manufactured, repaired or serviced by the Company has been designed, manufactured,
repaired or serviced in accordance in all material respects with (i) the specifications under which the product is normally and
has normally been manufactured and (ii) the provisions of all applicable laws, policies, guidelines and any other governmental
requirements. No products have been recalled, withdrawn or suspended by the Company, whether voluntarily or otherwise, except
as otherwise disclosed in the Registration Statement, the Time of Sale Information and the Prospectus. There have been no completed
or pending proceedings seeking the recall, withdrawal, suspension or seizure of any of the Company&rsquo;s products, except as
otherwise disclosed in the Registration Statement, the Time of Sale Information and the Prospectus. There are no material claims
existing or, to the Company&rsquo;s knowledge, threatened under or pursuant to any warranty, whether express or implied, on products
or services sold by the Company. There are no material claims existing and there is no basis for any claim against the Company
for injury to persons, animals or property as a result of the sale, distribution or manufacture of any product or performance
of any service by the Company, including, but not limited to, claims arising out of the defective or unsafe nature of its products
or services.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(rr)
  &nbsp;&nbsp;&nbsp;&nbsp;Each of the Company and its subsidiaries is and has been in all material respects in compliance with
all laws governing the export, import and provision of goods (including technical data and technology) and services in the jurisdictions
in which it operates, including, but not limited to, the Laws of the United States governing embargoes, sanctions and boycotts,
the Arms Export Control Act, the International Emergency Economic Powers Act, the Export Administration Act of 1979, the International
Traffic in Arms Regulations, the Export Administration Regulations, the Foreign Trade Regulations and all rules, regulations and
executive orders relating to any of the foregoing, the laws administered by the Office of Foreign Assets Control of the United
States Department of the Treasury, the Laws administered by United States Customs and Border Protection and the Laws administered
by the Bureau of Alcohol, Tobacco, Firearms, and Explosives of the U.S. Department of Justice (collectively, the &ldquo;Export,
Import and Economic Sanctions Laws&rdquo;). The Company and its subsidiaries have: (i) obtained all permits required by the Export,
Import and Economic Sanction Laws, (ii) taken reasonable measures in each case to ensure that purchasers of goods (including technical
data and technology) and services will not import, export, re-export or transfer such goods or services in violation any Export,
Import and Economic Sanctions Laws, and (iii) prepared and filed customs entry declarations with the appropriate customs authorities
in the United States and other countries, which customs entry declarations, individually and in the aggregate, are complete and
accurate in all material respects.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>.
Whether or not the transactions contemplated hereby are consummated or this Agreement becomes effective or is terminated, the
Company agrees to pay or cause to be paid the following: (i) the fees, disbursements and expenses of the Company&rsquo;s counsel
and accountants in connection with the registration of the Shares under the Act and all other expenses in connection with the
preparation, printing and filing of the Registration Statement and the Prospectus and amendments and supplements thereto and the
mailing and delivering of copies thereof and of any Preliminary Prospectus to the Underwriters and dealers; (ii) the printing
and delivery (including postage, air freight charges and charges for counting and packaging) of such copies of the Registration
Statement, the Prospectus, each Preliminary Prospectus, the Time of Sale Information, the Blue Sky memoranda, the Master Agreement
Among Underwriters, this Agreement, the Selected Dealers Agreement and all amendments or supplements to any of them as may be
reasonably requested for use in connection with the offering and sale of the Shares; (iii) consistent with the provisions of Section
5(h), all expenses in connection with the qualification of the Shares for offering and sale under state securities laws or Blue
Sky Laws, including reasonable attorneys&rsquo; fees and out-of-pocket expenses of the counsel for the Underwriters in connection
therewith; (iv) the filing fees incident to securing any required review by FINRA of the fairness of the terms of the sale of
the Shares and the reasonable fees and disbursements of the Underwriters&rsquo; counsel relating thereto up to a total of $10,000;
(v) the fees and expenses associated with listing the Shares on the Nasdaq; (vi) the cost of preparing any stock certificates;
(vii) the costs and charges of any transfer agent or registrar; (viii) the cost of the tax stamps, if any, in connection with
the issuance and delivery of the Shares to the respective Underwriters; (ix) all other fees, costs and expenses referred to in
Item 13 of the Registration Statement; and (x) the transportation, lodging, graphics and other expenses incidental to the Company&rsquo;s
preparation for and participation in the &ldquo;roadshow&rdquo; for the offering contemplated hereby. Except as provided in this
Section 7 and in Section 8 hereof, the Underwriters shall pay their own expenses, including the fees and disbursements of their
counsel. In addition, in the event that the proposed offering is terminated for the reasons set forth in Section 5(k) hereof,
the Company agrees to reimburse the Underwriters as provided in Section 5(k).</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
and Contribution</U>. Subject to the limitations in this paragraph below, the Company agrees to indemnify and hold harmless
you and each other Underwriter, the directors, officers, employees and agents of each Underwriter, and each person, if any,
who controls any Underwriter within the meaning of Section 15 of the Act or Section 20 of the Exchange Act from and against
any and all losses, claims, damages, liabilities and expenses, including reasonable costs of investigation and
attorneys&rsquo; fees and expenses (collectively, &ldquo;Damages&rdquo;) arising out of or based upon (i) any untrue
statement or alleged untrue statement of a material fact contained in any Preliminary Prospectus, in the Registration
Statement, the Time of Sale Information, any Issuer Free Writing Prospectus or the Prospectus or in any amendment or
supplement thereto, or any omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein (in the case of the Prospectus, in light of the circumstances under which they were
made) not misleading, except to the extent that any such Damages arise out of or are based upon an untrue statement or
omission or alleged untrue statement or omission that has been made therein or omitted therefrom in reliance upon the
Furnished Information or (ii) any inaccuracy in or breach of the representations and warranties of the Company contained
herein or any failure of the Company to perform its obligations hereunder or under law; provided, however, that with respect
to any untrue statement or omission made in any Preliminary Prospectus, the indemnity agreement contained in this
paragraph shall not inure to the benefit of any Underwriter (or to the benefit of any person controlling such Underwriter or
to any officer, director, employee or agent of any Underwriter) from whom the person asserting any such Damages purchased the
Shares concerned if both (A) a copy of the Time of Sale Information was not sent or given to such person at or prior to the
written confirmation of the sale of such Shares to such person as required by the Act and (B) the untrue statement or
omission in the Preliminary Prospectus was corrected in the Time of Sale Information. This indemnification shall be in
addition to any liability that the Company may otherwise have.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition to its other obligations under this Section 8, the Company agrees that, as an interim measure during the pendency of
any claim, action, investigation, inquiry or other proceeding arising out of or based upon any statement or omission, or any inaccuracy
in the representations and warranties of the Company herein or failure to perform its obligations hereunder, all as set forth
in this Section 8, the party against whom indemnification is being sought will reimburse each Underwriter on a monthly basis for
all reasonable, documented legal or other out-of-pocket expenses incurred in connection with investigating or defending any such
claim, action, investigation, inquiry or other proceeding (to the extent documented by reasonably itemized invoices therefor),
notwithstanding the absence of a judicial determination as to the propriety and enforceability of the obligation of the Company
to reimburse each Underwriter for such expenses and the possibility that such payments might later be held to have been improper
by a court of competent jurisdiction; provided, however, that the Company shall not be required to reimburse the Underwriters
for the fees, expenses and disbursements of more than one firm of legal counsel in each jurisdiction. To the extent that any such
interim reimbursement payment is so held to have been improper, each Underwriter shall promptly return it to the person(s) from
whom it was received. Any such interim reimbursement payments that are not made to the Underwriters within 30 days of a request
for reimbursement shall bear interest compounded daily <FONT STYLE="font: 10pt Times New Roman, Times, Serif">at
a rate determined on the basis of the base lending rate announced from time to time by <I>The Wall Street Journal </I>from the
date of such request.</FONT></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any action or claim shall be brought against any Underwriter or any person controlling any Underwriter in respect of which indemnity
may be sought against the Company, such Underwriter or such controlling person shall promptly notify in writing the party(s) against
whom indemnification is being sought (the &ldquo;indemnifying party&rdquo; or &ldquo;indemnifying parties&rdquo;), and such indemnifying
party(s) shall assume the defense thereof, including the employment of counsel reasonably acceptable to such Underwriter or such
controlling person and the payment of all reasonable fees of and expenses incurred by such counsel. Such Underwriter or any such
controlling person shall have the right to employ separate counsel in any such action and participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense of such Underwriter or such controlling person, unless (i) the
indemnifying party(s) has (have) agreed in writing to pay such fees and expenses, (ii) the indemnifying party(s) has (have) failed
to assume the defense and employ counsel reasonably acceptable to the Underwriter or such controlling person or (iii) the named
parties to any such action (including any impleaded parties) include both such Underwriter or such controlling person and the
indemnifying party(s), and such Underwriter or such controlling person shall have been advised by its counsel that one or more
legal defenses may be available to the Underwriter that may not be available to the Company, or that representation of such indemnified
party and any indemnifying party(s) by the same counsel would be inappropriate under applicable standards of professional conduct
(whether or not such representation by the same counsel has been proposed) due to actual or potential differing interests between
them (in which case the indemnifying party(s) shall not have the right to assume the defense of such action on behalf of such
Underwriter or such controlling person (but the Company shall not be liable for the fees and expenses of more than one counsel
for the Underwriters and such controlling persons)). The indemnifying party(s) shall not be liable for any settlement of any such
action effected without its (their several) written consent, but if settled with such written consent, or if there be a final
judgment for the plaintiff in any such action, the indemnifying party(s) agree(s) to indemnify and hold harmless any Underwriter
and any such controlling person from and against any loss, claim, damage, liability or expense by reason of such settlement or
judgment, but in the case of a judgment only to the extent stated in the first paragraph of this Section 8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
Underwriter agrees, severally and not jointly, to indemnify and hold harmless the Company, its directors, its officers who sign
the Registration Statement and any person who controls the Company within the meaning of Section 15 of the Act or Section 20 of
the Exchange Act, to the same extent as the foregoing several indemnity from the Company to each Underwriter, but only with respect
to the Furnished Information. If any action or claim shall be brought or asserted against the Company, any of its directors, any
of its officers or any such controlling person based on the Registration Statement, the Prospectus, the Time of Sale Information
or any Preliminary Prospectus, or any amendment or supplement thereto, and in respect of which indemnity may be sought against
any Underwriter pursuant to this paragraph, such Underwriter shall have the rights and duties given to the Company by the immediately
preceding paragraph (except that if the Company shall have assumed the defense thereof such Underwriter shall not be required
to do so, but may employ separate counsel therein and participate in the defense thereof, but the fees and expenses of such counsel
shall be at such Underwriter&rsquo;s expense), and the Company, its directors, any such officers and any such controlling persons,
shall have the rights and duties given to the Underwriters by the immediately preceding paragraph.</FONT></P>

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


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
any event, the Company will not, without the prior written consent of the Representative, settle or compromise or consent to the
entry of any judgment in any proceeding or threatened claim, action, suit or proceeding in respect of which the indemnification
may be sought hereunder (whether or not the Representative or any person who controls the Representative within the meaning of
Section 15 of the Act or Section 20 of the Exchange Act is a party to such claim, action, suit or proceeding) unless such settlement,
compromise or consent includes an unconditional release of all Underwriters and such controlling persons from all liability arising
out of such claim, action, suit or proceeding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the indemnification provided for in this Section 8 is unavailable or insufficient for any reason whatsoever to an indemnified
party in respect of any Damages referred to herein, then an indemnifying party, in lieu of indemnifying such indemnified party,
shall contribute to the amount paid or payable by such indemnified party as a result of such Damages (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 hand,
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 and several fault of the Company on the one hand, and the Underwriters on the other hand, in connection with the statements
or omissions that resulted in such Damages as well as any other relevant equitable considerations. The relative and several benefits
received by the Company on the one hand, and the Underwriters on the other hand, 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
discounts and commissions received by the Underwriters, in each case as set forth in the table on the cover page of the Prospectus;
provided that, in the event that the Underwriters shall have purchased any Additional Shares hereunder, any determination of the
relative benefits received by the Company or the Underwriters from the offering of the Shares shall include the net proceeds (before
deducting expenses) received by the Company and the underwriting discounts and commissions received by the Underwriters, from
the sale of such Additional Shares, in each case computed on the basis of the respective amounts set forth in the notes to the
table on the cover page of the Prospectus. The relative fault of the Company on the one hand, and the Underwriters on the other
hand, 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 on the one hand, or
by the Underwriters on the other hand and the parties&rsquo; relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company and the Underwriters agree that it would not be just and equitable if contribution pursuant to this Section 8 was determined
by a pro rata allocation (even if the Underwriters were treated as one entity for such purpose) or by any other method of allocation
that does not take into account the equitable considerations referred to in the immediately preceding paragraph. The amount paid
or payable by an indemnified party as a result of the Damages referred to in the immediately preceding paragraph shall be deemed
to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party
in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 8, no Underwriter
shall be required to contribute any amount in excess of the amount of the underwriting commissions received by such underwriter
in connection with the Shares underwritten by it and distributed to the public. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation. The Underwriters&rsquo; obligations to contribute pursuant to this Section 8 are several in proportion
to the respective numbers of Firm Shares set forth opposite their names in Schedule I hereto (or such numbers of Firm Shares increased
as set forth in Section 10 hereof) and not joint.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the second paragraph of this Section 8, any Damages for which an indemnified party is entitled to indemnification or contribution
under this Section 8 shall be paid by the indemnifying party to the indemnified party as Damages are incurred after receipt of
reasonably itemized invoices therefor. The indemnity, contribution and reimbursement agreements contained in this Section 8 and
the representations and warranties of the Company set forth in this Agreement shall remain operative and in full force and effect,
regardless of (i) any investigation made by or on behalf of any Underwriter or any person controlling any Underwriter, the Company,
its directors or officers or any person controlling the Company, (ii) acceptance of any Shares and payment therefor hereunder
and (iii) any termination of this Agreement. A successor to any Underwriter or any person controlling any Underwriter, or to the
Company, its directors or officers or any person controlling the Company, shall be entitled to the benefits of the indemnity,
contribution and reimbursement agreements contained in this Section 8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is agreed that any controversy arising out of the operation of the interim reimbursement arrangements set forth in the second
paragraph of this Section 8, including the amounts of any requested reimbursement payments and the method of determining such
amounts, shall be settled by arbitration conducted pursuant to the Code of Arbitration Procedure of FINRA. Any such arbitration
must be commenced by service of a written demand for arbitration or written notice of intention to arbitrate, therein electing
the arbitration tribunal. In the event the party demanding arbitration does not make such designation of an arbitration tribunal
in such demand or notice, then the party responding to said demand or notice is authorized to do so. Such arbitration would be
limited to the operation of the interim reimbursement provisions contained in the second and fourth paragraphs of this Section
8, and would not resolve the ultimate propriety or enforceability of the obligation to reimburse expenses that is created by the
provisions of the second paragraph of this Section 8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Conditions
of Underwriters&rsquo; Obligations</U>. The several obligations of the Underwriters to purchase the Firm Shares hereunder are
subject to the following conditions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Registration Statement shall have become effective not later than 12:00 noon, New York City time, on the date hereof, or at such
later date and time as shall be consented to in writing by the Representative, and all filings required by Rules 424(b), 430A
and 462 under the Act shall have been timely made.</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You shall be reasonably satisfied that since the respective dates as of which information is given in the Registration Statement,
the Time of Sale Information and Prospectus, (i) there shall not have been any change in the capital stock of the Company or any
material change in the indebtedness (other than in the ordinary course of business) of the Company, (ii) except as set forth or
contemplated by the Registration Statement, the Time of Sale Information or the Prospectus, no material oral or written agreement
or other transaction shall have been entered into by the Company that is not in the ordinary course of business or that could
reasonably be expected to result in a material reduction in the future earnings of the Company, (iii) no loss or damage (whether
or not insured) to the property of the Company shall have been sustained that had or could reasonably be expected to have a Material
Adverse Effect, (iv) no legal or governmental action, suit or proceeding affecting the Company or any of its properties that is
material to the Company or that affects or could reasonably be expected to materially and adversely affect the transactions contemplated
by this Agreement shall have been instituted or threatened and (v) there shall not have been any material change in the condition
(financial or otherwise), business, management, results of operations or prospects of the Company or its subsidiaries that makes
it impractical or inadvisable in your judgment to proceed with the public offering or purchase of the Shares as contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You shall have received on the Closing Date (and the Additional Closing Date, if any) an opinion of Taft Stettinius &amp; Hollister
LLP, counsel to the Company, in a form reasonably satisfactory to the Representative.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You shall have received on the Closing Date or Additional Closing Date, as the case may be, an opinion of Mayer Brown LLP, as
counsel for the Underwriters, dated the Closing Date or Additional Closing Date, as the case may be, with respect to the issuance
and sale of the Shares, the Registration Statement and other related matters as you may reasonably request, and the Company and
its counsel shall have furnished to your counsel such documents as they may reasonably request for the purpose of enabling them
to pass upon such matters.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You shall have received letters addressed to you and dated the date hereof and the Closing Date or the Additional Closing Date,
as the case may be, from (i) the firm of EisnerAmper LLP, independent certified public accountants, (ii) the firm of Mayer Hoffman
McCann P.C., independent certified public accountants and (iii) the Chief Financial Officer of the Company, substantially in the
forms heretofore approved by you.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
No stop order suspending the effectiveness of the Registration Statement shall have been issued by the Commission and no proceedings
for that purpose shall be pending or, to the knowledge of the Company, shall be threatened or contemplated by the Commission at
or prior to the Closing Date or Additional Closing Date, as the case may be; (ii) no order suspending the effectiveness of the
Registration Statement or the qualification or registration of the Shares under the Blue Sky Laws of any jurisdiction shall be
in effect and no proceeding for such purpose shall be pending or, to the knowledge of the Company, threatened or contemplated
by the authorities of any jurisdiction; (iii) any request for additional information on the part of the staff of the Commission
or any such authorities shall have been complied with to the satisfaction of the staff of the Commission or such authorities;
(iv) after the date hereof, no amendment or supplement to the Registration Statement or the Prospectus shall have been filed unless
a copy thereof was first submitted to you and you did not object thereto in good faith; and (v) all of the representations and
warranties of the Company contained in this Agreement shall be true and correct in all material respects (except for such representations
and warranties qualified by materiality, which representations and warranties shall be true and correct in all respects) on and
as of the date hereof and on and as of the Closing Date or Additional Closing Date, as the case may be, as if made on and as of
the Closing Date or Additional Closing Date, as the case may be, and you shall have received a certificate, dated the Closing
Date and signed by the chief executive officer and the chief financial officer of the Company (or such other officers as are acceptable
to you) to the effect set forth in this Section 9(f) and in Sections 9(b) and 9(h) hereof.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall not have failed in any material respect at or prior to the Closing Date or the Additional Closing Date, as the
case may be, to have performed or complied with any of its agreements herein contained and required to be performed or complied
with by it hereunder at or prior to the Closing Date or Additional Closing Date, as the case may be.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall have furnished or caused to have been furnished to you such further certificates and documents as you shall
have reasonably requested.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At or prior to the Closing Date, you shall have received the written commitment Lock-Up Agreements from each of the Company&rsquo;s
executive officers and directors in the form of Exhibit A hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 1.05in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At or prior to the effective date of the Registration Statement, you shall have received a letter from the Corporate Financing
Department of FINRA confirming that such Department has determined to raise no objections with respect to the fairness or reasonableness
of the underwriting terms and arrangements of the offering contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
such opinions, certificates, letters and other documents will be in compliance with the provisions hereof only if they are reasonably
satisfactory in form and substance to you and your counsel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
several obligations of the Underwriters to purchase Additional Shares hereunder are subject to the satisfaction on and as of the
Additional Closing Date of the conditions set forth in this Section 9, except that, if the Additional Closing Date is other than
the Closing Date, the certificates, opinions and letters referred to in this Section 9 shall be dated as of the Additional Closing
Date and the opinions called for by paragraphs (c) and (d) shall be revised to reflect the sale of Additional Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any of the conditions hereinabove provided for in this Section 9 shall not have been satisfied when and as required by this Agreement,
this Agreement may be terminated by you by notifying the Company of such termination in writing or by telegram at or prior to
such Closing Date, but you shall be entitled to waive any of such conditions.</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Effective Date of Agreement</U>. This Agreement shall become effective upon the later of (a) the execution and delivery hereof
by the parties hereto and (b) release of notification of the effectiveness of the Registration Statement by the Commission; provided,
however, that the provisions of Sections 7 and 8 shall at all times be effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Defaulting Underwriters</U>. If any one or more of the Underwriters shall fail or refuse to purchase Firm Shares that it or
they have agreed to purchase hereunder, and the aggregate number of Firm Shares that such defaulting Underwriter or Underwriters
agreed but failed or refused to purchase is not more than one-tenth of the aggregate number of the Firm Shares, each non-defaulting
Underwriter shall be obligated, severally, in the proportion in which the number of Firm Shares set forth opposite its name in
Schedule I hereto bears to the aggregate number of Firm Shares set forth opposite the names of all non-defaulting Underwriters
or in such other proportion as you may specify in the Agreement Among Underwriters, to purchase the Firm Shares that such defaulting
Underwriter or Underwriters agreed, but failed or refused to purchase. If any Underwriter or Underwriters shall fail or refuse
to purchase Firm Shares and the aggregate number of Firm Shares with respect to which such default occurs is more than one-tenth
of the aggregate number of Firm Shares and arrangements satisfactory to you and the Company for the purchase of such Firm Shares
are not made within 48 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting
Underwriter or the Company. In any such case that does not result in termination of this Agreement, either you or the Company
shall have the right to postpone the Closing Date, but in no event for longer than seven (7) days, in order that the required
changes, if any, in the Registration Statement and the Prospectus or any other documents or arrangements may be effected. Any
action taken under this paragraph shall not relieve any defaulting Underwriter from liability in respect of any such default of
any such Underwriter under this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Termination of Agreement</U>. This Agreement shall be subject to termination in your absolute discretion, without liability
on the part of any Underwriter to the Company by notice to the Company, if prior to the Closing Date or the Additional Closing
Date (if different from the Closing Date and then only as to the Additional Shares), as the case may be, in your sole judgment,
(i) trading in the Company&rsquo;s Common Stock shall have been suspended by the Commission or the Nasdaq, (ii) trading in securities
generally on the New York Stock Exchange or the Nasdaq shall have been suspended or materially limited, or minimum or maximum
prices shall have been generally established on such exchange, or additional material governmental restrictions, not in force
on the date of this Agreement, shall have been imposed upon trading in securities generally by any such exchange or by order of
the Commission or any court or other governmental authority, (iii) a general moratorium on commercial banking activities shall
have been declared by either federal or New York State authorities or (iv) there shall have occurred any outbreak or escalation
of hostilities or other international or domestic calamity, crisis or change in political, financial or economic conditions or
other material event the effect of which on the financial markets of the United States is such as to make it, in your judgment,
impracticable or inadvisable to market the Shares or to enforce contracts for the sale of the Shares. Notice of such cancellation
shall be promptly given to the Company and its counsel by telegraph, telecopy or telephone and shall be subsequently confirmed
by letter.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Information Furnished by the Underwriters</U>. The Company acknowledges that (i) the paragraph immediately following footnote
1 on the cover page of the Registration Statement and (ii) the first, third, and fourth bullet points under the caption &ldquo;Underwriting&rdquo;
in any Preliminary Prospectus (the &ldquo;Furnished Information&rdquo;), constitute the only information furnished by or on behalf
of the Underwriters through you or on your behalf as such information is referred to in Sections 6(a), 6(b) and 8 hereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>Miscellaneous</U>. Except as otherwise provided in Sections 5 and 12 hereof, notice given pursuant to any of the provisions
of this Agreement shall be in writing and shall be delivered:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 80pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to the Company:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Byrna
Technologies Inc.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100 Burtt Road, Suite 115</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Andover, MA 01810</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: Bryan S. Ganz</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>bryan@byrna.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with
a copy to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Taft
Stettinius &amp; Hollister LLP</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2200 IDS Center</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80 South Eighth Street</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Minneapolis, MN 55402</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attention: Kathleen Eick</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>keick@taftlaw.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.15in; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to
the Underwriters:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raymond
James &amp; Associates, Inc.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">880 Carillon Parkway</FONT><BR>
St. Petersburg, FL 33716<BR>
Attention: Geoff Tobin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in; color: Black"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>geoffrey.tobin@raymondjames.com</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">with
a copy to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 1.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mayer
Brown LLP</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1221 Avenue of the Americas</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New York, NY 10020</FONT><BR>
Attention: Anna Pinedo<BR>
<U>apinedo@mayerbrown.com</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 8pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Agreement has been and is made solely for the benefit of the several Underwriters, <FONT STYLE="font: 10pt Times New Roman, Times, Serif">the
Company and its directors and officers.</FONT></FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.05in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Applicable Law; Counterparts</U>. This Agreement shall be governed by and construed in accordance with the laws of the State
of New York without reference to choice of law principles thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Agreement may be signed in various counterparts, which together shall constitute one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Agreement shall be effective when, but only when, at least one counterpart hereof shall have been executed on behalf of each party
hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company and the Underwriters each hereby irrevocably waive any right they may have to a trial by jury in respect to any claim
based upon or arising out of this Agreement or the transactions contemplated hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Fiduciary Duty</U>. Notwithstanding any pre-existing relationship, advisory or otherwise, between the parties or any oral representations
or assurances previously or subsequently made by any of the Underwriters, the Company acknowledges and agrees that (i) nothing
herein shall create a fiduciary or agency relationship between the Company, on the one hand, and the Underwriters, on the other
hand; (ii) the Underwriters have been retained solely to act as underwriters and are not acting as advisors, expert or otherwise,
to either the Company in connection with this offering, the sale of the Shares or any other services the Underwriters may be deemed
to be providing hereunder, including, without limitation, with respect to the public offering price of the Shares; (iii) the relationship
between the Company, on the one hand, and the Underwriters, on the other hand, is entirely and solely commercial, and the price
of the Shares was established by the Company and the Underwriters based on discussions and arms&rsquo; length negotiations and
the Company understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement; (iv) any
duties and obligations that the Underwriters may have to the Company shall be limited to those duties and obligations specifically
stated herein; and (v) notwithstanding anything in this Agreement to the contrary, the Company acknowledges that the Underwriters
may have financial interests in the success of the Offering that are not limited to the difference between the price to the public
and the purchase price paid to the Company for the shares and such interests may differ from the interests of the Company, and
the Underwriters have no obligation to disclose, or account to the Company for any benefit they may derive from such additional
financial interests. The Company hereby waives and releases, to the fullest extent permitted by the applicable law, any claims
it may have against the Underwriters with respect to any breach or alleged breach of fiduciary duty and agrees that the Underwriters
shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary duty claim or to any person
asserting a fiduciary duty claim on behalf of or in right of the Company or any of its shareholders, managers, employees or creditors.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 0.6in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Research
Analyst Independence</U>. The Company acknowledges that (a) the Underwriters&rsquo; research analysts and research
departments are required to be independent from their respective investment banking divisions and are subject to certain
regulations and internal policies and (b) the Underwriters&rsquo; research analysts may hold views and make statements or
investment recommendations and/or publish research reports with respect to the Company, the value of the Common Stock and/or
the offering that differ from the views of their respective investment banking divisions. The Company hereby waives and
releases, to the fullest extent permitted by law, any claims that it may have against the Underwriters with respect to any
conflict of interest that may arise from the fact that the views expressed by the Underwriters&rsquo; independent research
analysts and research departments may be different from or inconsistent with the views or advice communicated to the Company
by any Underwriter&rsquo;s investment banking division. The Company acknowledges that each of the Underwriters is a full
service securities firm and as such, from time to time, subject to applicable securities laws, may effect transactions for
its own account or the account of its customers and hold long or short positions in debt or equity securities of the
companies that are the subject of the transactions contemplated by this Agreement.</FONT></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 275.55pt 8pt 0; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
confirm that the foregoing correctly sets forth the agreement among the Company and the several Underwriters.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very
    truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BYRNA
    TECHNOLOGIES INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Bryan Ganz</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bryan
    Ganz, President and Chief Executive Officer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 275.55pt 8pt 0; color: Red"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 275.55pt 8pt 0; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CONFIRMED
as of the date first above<BR>
mentioned, on behalf of the Representative<BR>
and the other several Underwriters named in<BR>
Schedule I hereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RAYMOND
JAMES &amp; ASSOCIATES, INC.</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 5%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/
    Geoffrey Tobin</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Authorized Representative</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 275.55pt 8pt 0; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULE
I</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; border: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Underwriter</B></FONT></TD>
    <TD STYLE="width: 50%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Number
    of Firm Shares</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; padding-right: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raymond
    James &amp; Associates, Inc.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,625,000</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; padding-right: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
    Riley Securities, Inc.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">500,000</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; padding-right: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ladenburg
    Thalmann &amp; Co. Inc.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">375,000</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; padding-right: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total</B></FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right; padding-right: 5pt; padding-left: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>2,500,000</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULE
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuer
Free Writing Prospectus</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Form
of Lock-up Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">_______<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
2021</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BYRNA
TECHNOLOGIES INC.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100 Burtt Road, Suite 115<BR>
Andover, MA 01810</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RAYMOND
JAMES &amp; ASSOCIATES, INC.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As Representative of the Several Underwriters</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">c/o Raymond James &amp; Associates, Inc.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">880 Carillon Parkway<BR>
</FONT>St. Petersburg, FL 33716</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 40pt"></TD><TD STYLE="width: 40pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re:</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Byrna
Technologies Inc. (the &ldquo;Company&rdquo;) - Restriction on Stock Sales </U></B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
letter is delivered to you pursuant to the Underwriting Agreement (the &ldquo;Underwriting Agreement&rdquo;) to be entered into
by the Company, as issuer, and Raymond James &amp; Associates, Inc., the representative (the &ldquo;Representative&rdquo;) of
certain underwriters (the &ldquo;Underwriters&rdquo;) to be named therein. Upon the terms and subject to the conditions of the
Underwriting Agreement, the Underwriters intend to effect a public offering of Common Stock, par value $0.001 per share, of the
Company (the &ldquo;Shares&rdquo;), as described in and contemplated by the registration statement of the Company on Form S-1,
File No. 333-256684 (the &ldquo;Registration Statement&rdquo;), as filed with the Securities and Exchange Commission on June 1,
2021 (the &ldquo;Offering&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned recognizes that it is in the best financial interests of the undersigned, as an officer or director, or an owner of
stock, options, warrants or other securities of the Company (the &ldquo;Company Securities&rdquo;), that the Company complete
the proposed Offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned further recognizes that the Company Securities held by the undersigned are, or may be, subject to certain restrictions
on transferability, including those imposed by United States federal securities laws. Notwithstanding these restrictions, the
undersigned has agreed to enter into this letter agreement to further assure the Underwriters that the Company Securities of the
undersigned, now held or hereafter acquired, will not enter the public market at a time that might impair the underwriting effort.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"></P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Therefore,
as an inducement to the Underwriters to execute the Underwriting Agreement, the undersigned hereby acknowledges and agrees that
the undersigned will not (i) offer, sell, contract to sell, pledge, grant any option to purchase or otherwise dispose of (collectively,
a &ldquo;Disposition&rdquo;) any Company Securities, or any securities convertible into or exercisable or exchangeable for, or
any rights to purchase or otherwise acquire, any Company Securities held by the undersigned or acquired by the undersigned after
the date hereof, or that may be deemed to be beneficially owned by the undersigned (collectively, the &ldquo;Lock-Up Shares&rdquo;),
pursuant to the Rules and Regulations promulgated under the Securities Act of 1933, as amended (the &ldquo;Act&rdquo;), and the
Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), for a period commencing on the date hereof and ending
180 days after the date of the Company&rsquo;s Prospectus first filed pursuant to Rule 424(b) under the Act, inclusive (the &ldquo;Lock-Up
Period&rdquo;), without the prior written consent of Raymond James &amp; Associates, Inc. or (ii) exercise or seek to exercise
or effectuate in any manner any rights of any nature that the undersigned has or may have hereafter to require the Company to
register under the Act the undersigned&rsquo;s sale, transfer or other disposition of any of the Lock-Up Shares or other securities
of the Company held by the undersigned, or to otherwise participate as a selling securityholder in any manner in any registration
effected by the Company under the Act, including under the Registration Statement, during the Lock-Up Period. The foregoing restrictions
are expressly agreed to preclude the undersigned from engaging in any hedging, collar (whether or not for any consideration) or
other transaction that is designed to or reasonably expected to lead or result in a Disposition of Lock-Up Shares during the Lock-Up
Period, even if such Lock-Up Shares would be disposed of by someone other than such holder. Such prohibited hedging or other transactions
would include any short sale or any purchase, sale or grant of any right (including any put or call option or reversal or cancellation
thereof) with respect to any Lock-Up Shares or with respect to any security (other than a broad-based market basket or index)
that includes, relates to or derives any significant part of its value from Lock-Up Shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 8pt 0 0; text-align: justify; text-indent: 40pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notwithstanding the agreement not to
make any Disposition during the Lock-Up Period, you have agreed that the foregoing restrictions shall not apply to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 40pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                         Company Securities being offered in the prospectus included in the Registration Statement;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">any
                                         grant or exercise of options pursuant to the Company&rsquo;s existing stock option plans,
                                         including transfers to the Company in connection with &ldquo;net&rdquo; or &ldquo;cashless&rdquo;
                                         exercise of options or other rights to purchase Company Securities granted pursuant to
                                         an equity incentive plan of the Company;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">establishment
                                         or modification of a trading plan pursuant to Rule 10b5-1 promulgated under the Exchange
                                         Act, provided, that (a) such plan does not provide for the transfer of Company Securities
                                         during the Lock-Up Period and (b) no filing or public announcement under the Exchange
                                         Act or otherwise is required or voluntarily made by or on behalf of the undersigned or
                                         the Company in connection with the establishment of such plan;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 40pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">transfers
                                         of Company Securities (a) as a bona fide gift or gifts, (b) by will, other testamentary
                                         document or intestate succession to the legal representative, heir beneficiary or a member
                                         of the immediate family of the undersigned or (c) by operation of law, such as pursuant
                                         to a qualified domestic order or as required by a divorce settlement;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt 0.05in; text-align: center"></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<TD STYLE="width: 40pt"></TD><TD STYLE="width: 40pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">transfers
of shares of Company Securities acquired following the Offering.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.1in 8pt; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is understood that, if the Underwriting Agreement (other than the provisions thereof that survive termination) shall terminate
or be terminated prior to payment for and delivery of the Shares, you will release the undersigned from the obligations under
this letter agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify; text-indent: 40pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
furtherance of the foregoing, the Company and its transfer agent and registrar are hereby authorized to decline to make any transfer
of Lock-Up Shares if such transfer would constitute a violation or breach of this letter. This letter shall be binding on the
undersigned and the respective successors, heirs, personal representatives and assigns of the undersigned. Capitalized terms used
but not defined herein have the respective meanings assigned to such terms in the Underwriting Agreement.</FONT></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Very
truly yours,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Signature
of Securityholder</FONT></P>
</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-indent: 40pt">&nbsp;</P>

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