<SEC-DOCUMENT>0001144204-17-014859.txt : 20170316
<SEC-HEADER>0001144204-17-014859.hdr.sgml : 20170316
<ACCEPTANCE-DATETIME>20170315214603
ACCESSION NUMBER:		0001144204-17-014859
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20170315
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170316
DATE AS OF CHANGE:		20170315

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			JAKKS PACIFIC INC
		CENTRAL INDEX KEY:			0001009829
		STANDARD INDUSTRIAL CLASSIFICATION:	GAMES, TOYS & CHILDREN'S VEHICLES (NO DOLLS & BICYCLES) [3944]
		IRS NUMBER:				954527222
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35448
		FILM NUMBER:		17692770

	BUSINESS ADDRESS:	
		STREET 1:		22619 PACIFIC COAST HWY
		CITY:			MALIBU
		STATE:			CA
		ZIP:			90265
		BUSINESS PHONE:		3104567799

	MAIL ADDRESS:	
		STREET 1:		22619 PACIFIC COAST HWY
		CITY:			MALIBU
		STATE:			CA
		ZIP:			90265
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v461823_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event reported):
<B>March 15, 2017 </B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt"><B>JAKKS PACIFIC, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 34%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 33%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>0-28104</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>95-4527222</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">File Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 67%; padding-top: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>2951 28<SUP>th</SUP> Street, Santa Monica, California </B></FONT></TD>
    <TD STYLE="width: 33%; padding-top: 12pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>90405</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <B>(424) 268-9444</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">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 (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">On March 15,
2017 we and Hongkong Meisheng Culture Company Ltd., a Hong Kong corporation (&ldquo;Meisheng&rdquo;) entered into an Equity
Purchase Agreement (the &ldquo;Purchase Agreement&rdquo;) which provides, among other things, that we will sell 3,660,891
shares of our common stock (the &ldquo;Shares&rdquo;) to Meisheng for an aggregate price of $19,311,200, or $5.275 per share.
The closing under the Purchase Agreement is subject to certain conditions, including approval by the stockholders
of Meisheng&rsquo;s parent company, Meisheng Culture &amp; Creative Corp., Ltd. Meisheng currently owns 1,578,647 shares of
our issued and outstanding shares of common stock (approximately 6.8% of our issued and outstanding shares of common
stock). Following the consummation of the sale of the Shares, Meisheng will own approximately 19.5% of our issued and
outstanding shares of common stock. We also agreed to provide Meisheng with certain demand and piggyback registration rights
with respect to the Shares under a Registration Rights Agreement which will be entered into with Meishing concurrently with
the closing under the Purchase Agreement. The Purchase Agreement also provides that we will appoint Mr. Xiaoqiang Zhao, the
Executive Director of Meishing and Chairman of its parent company Meisheng Culture &amp; Creative Corp., Ltd. to our Board of
Directors and will continue to support his election to our Board of Directors at future Annual Meetings provided Meisheng
owns at least 10% of our issued and outstanding shares of common stock. The Purchase Agreement provides that Meisheng will
comply with customary standstill provisions for as long as Meisheng owns at least 10% of our issued and outstanding shares of
common stock. The foregoing description of the Purchase Agreement and the Registration Rights Agreement is qualified in its
entirety by reference to the agreements, copies of which are filed as exhibits to this Form 8-K and are incorporated by
reference in this Item 1.01.</P>

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 0in"></TD><TD STYLE="width: 0.35in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits</TD>
</TR></TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 14%; text-decoration: underline; text-align: center"><B><U>Exhibit</U></B></TD>
    <TD STYLE="width: 86%; text-decoration: underline; padding-left: 0.25in"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.1</TD>
    <TD>Equity Purchase Agreement dated as of March 15, 2017 between Registrant &nbsp;and Hongkong Meisheng Culture Company Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.2</TD>
    <TD>Registration Rights Agreement dated as of March __, 2017 between Registrant and Hongkong Meisheng Culture Company Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">10.3</TD>
    <TD>Press Release dated March 15, 2017</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 239.3pt"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 239.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 22.55pt">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.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD COLSPAN="2">JAKKS PACIFIC, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 36%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Dated:&nbsp;&nbsp;March 15, 2017</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">/s/ JOEL M.
BENNETT&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Joel M. Bennett, CFO</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; text-decoration: underline; padding-left: 0.125in; text-align: left"><B><U>Exhibit</U></B></TD>
    <TD STYLE="width: 88%; text-decoration: underline; padding-left: 0.375in"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.1</TD>
    <TD>Equity Purchase Agreement dated as of March 15, 2017 between Registrant and Hongkong Meisheng Culture Company Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.2</TD>
    <TD>Registration Rights Agreement dated as of March __, 2017 between Registrant and Hongkong Meisheng Culture Company Ltd.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>10.3</TD>
    <TD>Press release dated March 15, 2017</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>v461823_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Equity Purchase Agreement (the &ldquo;<U>Agreement</U>&rdquo;)
is made and entered into as of March 15, 2017 between JAKKS Pacific, Inc., a Delaware corporation (the &ldquo;Company&rdquo;),
and Hongkong Meisheng Culture Company Ltd., a company incorporated in Hong Kong (the &ldquo;<U>Investor</U>&rdquo;).</P>

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

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">A.</TD><TD>The Investor desires to invest to US Dollars (&ldquo;<U>USD</U>&rdquo;) 19,311,200.00 (the &ldquo;<U>Investment Amount</U>&rdquo;)
in the Company&rsquo;s Common Stock, par value $.001 per share (&ldquo;<U>Common Stock</U>&rdquo;), at a per share purchase price
equal to USD 5.275.</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOW, THEREFORE, the Company and the Investor hereby agree as
follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1. <U>Purchase
and Sale</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) <U>Subscription</U>. Upon the terms and subject to the
conditions set forth herein, the Investor hereby subscribes for and agrees to purchase, and the Company does hereby agree to sell
to the Investor and deliver to the Investor 3,660,891 shares (the &ldquo;<U>Shares</U>&rdquo;) of the Company&rsquo;s Common Stock
for a per share purchase price equal to USD 5.275 resulting in a total purchase price of USD 19,311,200.00 (the &ldquo;<U>Purchase
Price</U>&rdquo;.)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B) <U>Closing and
Payment</U>. The closing of the purchase and sale of the Shares (&ldquo;<U>Closing</U>&rdquo;) is subject to the following conditions
(the &ldquo;<U>Investor Closing Conditions</U>&rdquo;): the approval of the execution and delivery of this Agreement, the Registration
Rights Agreement and the consummation of transactions contemplated hereby (including the appointment of the Investor&rsquo;s nominee
Mr. Xiaoqiang Zhao (the &ldquo;<U>Nominee</U>&rdquo;) as a member of the Board of Directors of the Company (the &ldquo;<U>Board</U>&rdquo;),
provided the Director Background Condition (as hereafter defined) is satisfied) by the shareholders of Meisheng Culture &amp;
Creative Corp., Ltd., the parent company of the Investor (the &ldquo;<U>Investor Shareholder Approval</U>&rdquo;). The Investor
will give prompt notice to the Company of the satisfaction of the Investor Closing Conditions. The Closing will occur within three
(3) business days after the date on which the Investor Closing Conditions and the Director Background Condition are satisfied (the
&ldquo;<U>Closing Date</U>&rdquo;) and on the Closing Date the Investor will deliver the Purchase Price in USD to the Company by
wire transfer to the account designated by the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(C) <U>Share Certificates</U>. Promptly after delivery of the
Purchase Price the Company (but in any event within one (1) business days thereafter) will instruct its transfer agent to issue
certificates to the Investor representing the Shares. The certificates representing the Shares shall have been duly signed and
have endorsed thereon a legend in substantially the following form: &ldquo;The Shares represented by this Certificate have not
been registered under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;.) They may not be sold,
offered for sale, pledged or hypothecated in the absence of an effective Registration Statement for the Shares under the Securities
Act or an opinion of counsel satisfactory to the Company that such registration is not required.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(D) <U>Registration Rights Agreement</U>. Concurrently with
the Closing, the Investor and the Company shall execute a Registration Rights Agreement in the form annexed (the &ldquo;<U>Registration
Rights Agreement</U>&rdquo;.)</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2. <U>Representations
and Warranties of the Investor.</U> The Investor represents and warrants as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) <U>Federal Securities
Laws Matters</U>. The Investor acknowledges that (i) the Shares have not been registered under the Securities Act of 1933 (the
&ldquo;<U>Securities Act</U>&rdquo;); (ii) the Shares must be held indefinitely and the Investor must continue to bear the economic
risk of the investment therein, unless such Shares are subsequently registered under the Securities Act, or an exemption from such
registration (including Rule 144 promulgated under the Securities Act, &ldquo;<U>Rule 144</U>&rdquo;) is available; (iii) a restrictive
legend shall be placed on the certificate(s) representing the Shares as set forth above; and (v) a notation shall be made in the
appropriate records of the Company indicating that the Shares are subject to restrictions on transfer.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B) &nbsp;<U>Investor Status</U>.
(i) The Investor is an &ldquo;accredited investor&rdquo; as such term is defined in Rule 501(a) promulgated under the Securities
Act and (ii) (A) the Investor's financial situation is such that the Investor can afford to bear the economic risk of investing
in the Company for an indefinite period of time, (B) the Investor can afford to suffer complete loss of its investment in the Shares,
(C) the Investor's knowledge and experience in financial and business matters are such that the Investor is capable of evaluating
the merits and risks of the Investor's investment in the Shares, and (D) the Investor understands and has taken cognizance of all
the risk factors related to the purchase of the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(C) <U>Due Execution and Delivery</U>. The Investor has duly
executed and delivered this Agreement and has executed, or will execute, the Registration Rights Agreement; this Agreement and,
when executed, the Registration Rights Agreement, constitute legal, valid and binding obligations of the Investor, enforceable
in accordance with their respective terms; and, other than (i) the Investor Shareholder Approval, (ii) any filing and/or disclosure
may be required by the China Securities Regulatory Commission and the stock exchange on which shares of the parent company of
the Investor are listed (the &ldquo;<U>Securities Filing</U>&rdquo;) and (iii) filing with relevant Chinese authorities in respect
of overseas investment by a Chinese person (the &ldquo;<U>Overseas Investment Filing</U>&rdquo;), no consent, approval, authorization,
order, filing, registration or qualification of or with any court, governmental authority or third person is required to be obtained
by the Investor in connection with the execution and delivery of this Agreement or the Registration Rights Agreement, or the performance
of the Investor's obligations hereunder or thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(D) <U>Purchase Entirely for Own Account</U>. This Agreement
is made with the Investor in reliance upon the Investor&rsquo;s representation to the Company, which by the Investor&rsquo;s execution
of this Agreement Investor hereby confirms, that the Shares to be purchased by Investor will be acquired for investment for Investor&rsquo;s
own account, not as a nominee or agent, and not with a view to the distribution of any part thereof, and that the Investor has
no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement,
Investor further represents and warrants that the Investor does not have any contract, undertaking, agreement or arrangement with
any Person (as hereafter defined) or any other third party to sell, transfer, pledge or grant participations to such Person to
any other third party, with respect to any of the Shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(E) <U>Certain Transactions</U>. The Investor has not, during
the seven (7) days prior to the date of this Agreement, directly or indirectly traded in the Common Stock or established any hedge
or other position in the Common Stock or any security (other than a broad-based market basket or index) that includes, relates
to or derives any significant part of its value from the Common Stock, that is outstanding on the date of this Agreement and that
is designed to or could reasonably be expected to lead to or result in a direct or indirect sale, offer to sell, solicitation
of offers to buy, disposition of, loan, pledge or grant of any right with respect to the Common Stock or other securities of the
Company by the Investor or any other Person. Such prohibited hedging or other transactions would include, without limitation,
effecting any short sale or having in effect any short position (whether or not such sale or position is against the box and regardless
of when such position was entered into) or any purchase, sale or grant of any right (including without limitation any put or call
option) with respect to the Common Stock 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 the Common Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(F) <U>Acknowledgment Regarding Investor&rsquo;s Purchase of
Shares</U>. The Investor is acting solely in the capacity of arm&rsquo;s length purchaser with respect to this Agreement and the
transactions contemplated hereby and thereby and as of the date hereof, (i) the Investor is not an &ldquo;affiliate&rdquo; of
the Company (as defined in Rule 144), and (ii) the Investor is not a &ldquo;beneficial owner&rdquo; of more than 10% of the shares
of Common Stock (as defined for purposes of Rule 13d-3 of the Exchange Act). Neither the Investor nor any of its affiliates (as
such term is defined below) own any Common Stock or other securities of the Company except for: 1,578,647 shares of Common Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(G) <U>Further Representations by Foreign Investors</U>. If
the Investor is not a United States person, the Investor hereby represents and warrants that he or she or it has satisfied himself
or herself or itself as to the full observance of the laws of his or her or its jurisdiction in connection with any commitment,
understanding or agreement to purchase the Shares, including (a) the legal requirements within his jurisdiction for the purchase
of the Shares, (b) any foreign exchange restrictions applicable to such purchase, and (c) any governmental or other consents that
may need to be obtained (other than (i) the Investor Shareholder Approval, (ii) the Securities Filing, and (iii) the Overseas
Investment Filing). The Investor&rsquo;s purchase and payment for, and its continued beneficial ownership of the Shares, will
not violate any applicable securities or other laws of his or her or its jurisdiction. No governmental authority or affiliate
of any governmental authority has any direct or indirect ownership or other beneficial interest in Investor or will have any direct
or indirect ownership or other beneficial interest in the Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">3. <U>Representations
and Warranties of the Company</U>. The Company represents and warrants as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) <U>Organization Form</U>. The Company is a corporation
duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite power and
authority to own or lease and operate its properties and to carry on its business as now conducted and described in the SEC Reports
(as defined below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B) <U>Authority</U>. The Company has all requisite power and
authority to enter into and perform all of its obligations under this Agreement and to carry out the transactions contemplated
hereby, including all requisite power and authority to issue the Shares. The Shares, when issued, delivered and paid for in accordance
with the terms hereof, will be duly and validly issued, fully paid and non-assessable and free and clear of any mortgage, pledge,
security interest, encumbrance, deposit agreement, lien (statutory or otherwise) or charge of any kind (including any agreement
to give any of the foregoing, any conditional sale or other title retention agreement). The holders of outstanding shares of Common
Stock are not entitled to statutory, preemptive or other similar contractual rights to subscribe for shares of Common Stock; and
no options, warrants or other rights to purchase, agreements or other obligations to issue, or rights to convert any obligations
into or exchange any securities for, securities of the Company or equity interests in the Company are outstanding except as described
in the Company&rsquo;s SEC Reports. The term &ldquo;<U>SEC Reports</U>&rdquo; means all documents and other materials including
the exhibits thereto and documents incorporated by reference therein, filed by the Company or on its behalf under the Exchange
Act.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(C) <U>Actions Authorized</U>. The Company has taken all corporate
actions necessary to authorize it to enter into and perform its obligations under this Agreement and to consummate the transactions
contemplated hereby.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(D) <U>Due Execution and Delivery</U>. The Company has duly
executed and delivered this Agreement and the Company has executed, or will execute, and the Registration Rights Agreement; this
Agreement constitutes a legal, valid and binding obligation of the Company and, when executed, the Registration Rights Agreement
will constitute legal, valid and binding obligations of the Company, each enforceable in accordance with their respective terms;
and no consent, approval, authorization, order, filing, registration or qualification of or with any court, governmental authority
or third person is required to be obtained by the Company in connection with the execution and delivery of this Agreement, or
by the Company, other than the receipt by the Board of a satisfactory background check regarding the Nominee (the &ldquo;Director
Background Condition&rdquo;), and filing by the Company of 15 days&rsquo; prior notice to the NASDAQ Stock Market of the issuance
of the Shares, in connection with the execution and delivery of the Registration Rights Agreement or the performance of the Company's
obligations hereunder or thereunder. The Company will give prompt notice to Investor when the Director Background Check is satisfied.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(E) <U>No Conflicts</U>.
Neither the execution, delivery or performance of this Agreement nor the consummation of the transactions contemplated hereby by
the Company will conflict with the (i) certificate of incorporation or by-laws of the Company, (ii) any federal, state, local or
foreign order, writ, injunction, judgment, settlement, award, decree, statute, law, rule or regulation applicable to the Company
or its subsidiaries or injunction of any court, regulatory body, administrative agency, governmental body, arbitrator or other
authority having jurisdiction over the Company or any of its subsidiaries or (iii) result in any breach of, or constitute a default
under any contract, agreement or instrument to which the Company is a party or by which it or any of its assets is bound, except
in the case of clauses (ii) and (iii) for such conflict, breach, violation or default that would not reasonably be expected to
have, individually or in the aggregate, a material adverse effect on the condition (financial or otherwise), results of operations,
business, properties, management, consolidated financial position, stockholders&rsquo; equity or prospects of the Company and its
subsidiaries taken as a whole or the ability of the Company to consummate the transactions contemplated by this Agreement on a
timely basis (a &ldquo;<U>Material Adverse Effect</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(F) <U>NASDAQ Stock
Market Compliance</U>. The Common Stock is registered pursuant to Section 12(b) or Section 12(g) of the United States Securities
and Exchange Act of 1934 (the &ldquo;<U>Exchange Act</U>&rdquo;) and is listed or quoted on the NASDAQ Global Select Market (the
&ldquo;<U>Principal Market</U>&rdquo;), 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 de-listing the Common Stock from the Principal Market, nor has the
Company received any notification that the United States Securities and Exchange Commission (the &ldquo;<U>SEC</U>&rdquo;) or the
Principal Market is contemplating terminating such registration or listing.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(G) <U>SEC Reports</U>. The Company has filed in a timely manner
all SEC Reports that the Company was required to file under the Exchange Act during the 36 months preceding the date of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(H) <U>Compliance with Law</U>. The Company and its subsidiaries
and all of their respective properties and facilities are in compliance in all material respects with all foreign, federal, state,
local and regional statutes, laws, ordinances and judicial or administrative orders, judgments, rulings and regulations, except,
in any case, where failure to comply could not reasonably be expected to have a Material Adverse Effect.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(I) <U>Capitalization</U>. The authorized equity capitalization
of the Company is as set forth in the SEC Reports; as of the date of this Agreement, prior to the issuance and sale of the Shares,
as contemplated hereby, the issued and outstanding shares of Common Stock is 23,208,535 and 6,258,985 shares of Common Stock are
issuable upon conversion of the Company&rsquo;s 2018 convertible senior notes, 11,725,027 shares of Common Stock are issuable
upon conversion of the Company&rsquo;s 2020 convertible senior notes, and 1,500,000 shares of Common Stock are issuable upon exercise
of the Company&rsquo;s outstanding warrants, 1,011,109 shares of Common Stock are issuable under restricted stock agreements between
the Company and certain executives and employees, and no other equity shares are issuable upon conversion, exchange or exercise
of outstanding securities, options or other agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(J) <U>Private Placement</U>.
Assuming the accuracy of the Investor&rsquo;s representations and warranties set forth in Section 2 of this Agreement (i) no registration
under the Securities Act is required for the offer and sale of the Shares by the Company to the Investor hereunder, and (ii) the
issuance and sale of the Shares hereunder does not contravene the rules and regulations of the Nasdaq Stock Market.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4. <U>Governance</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) On the Closing
Date, the size of the Board shall be increased from six (6) members to seven (7) members and the vacancy created by the increase
in the size of the Board shall be filled by the Nominee. The parties agree that the Nominee is entitled to bring an interpreter
for all board meetings that he is attending, provided that the interpreter executes a confidentiality agreement required by the
Board and does not interfere with the conduct of the meeting and provided that the interpreter&rsquo;s presence at the meeting
does not impair the attorney client privilege with respect to communications made by the Company&rsquo;s attorney to the Board.
As long as the Investor and its affiliates hold 10% or more of the issued and outstanding shares of Common Stock of the Company,
the Investor shall have the right from time to time to designate a nominee (who shall be Mr. Xiaoqiang Zhao) for election to the
Board.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B) As long as the
Investor and its affiliates hold 10% or more of the issued and outstanding shares of Common Stock of the Company, the Company shall
cause the Board to (x) name the Nominee as a nominee for election as a director of the Company at each annual meeting of its shareholders
(an &ldquo;<U>Annual Meeting</U>&rdquo;) in its definitive proxy statements to be filed with the Securities and Exchange Commission
(the &ldquo;<U>SEC</U>&rdquo;) in connection therewith and (y) recommend that the stockholders of the Company vote to elect the
Nominee as a director of the Company at each Annual Meeting; and the Company shall use its reasonable best efforts (which shall
include the solicitation of proxies) to obtain the election of the Nominee at each Annual Meeting (it being understood that such
efforts shall be not less than the efforts used by the Company to obtain the election of any non-employee director nominee nominated
by it to serve as a director on the Board at such Annual Meetings), provided that the Nominee in the judgment of the other members
of the Board continues to meet the general standards applicable to all directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(C) The Board may nominate
up to eight (8) individuals (including the Nominee) for election at each Annual Meeting and such additional individuals necessary
so that a majority of the members of the Board qualify as independent as such term is defined in the rules of the Principal Market.
As long as the Investor and its affiliates hold 10% or more of the issued and outstanding shares of Common Stock of the Company,
without the approval of the Investor, the Company shall not increase the size of the Board in excess of eight (8) members, and
such additional individuals necessary so that a majority of the members of the Board qualify as independent, and shall not decrease
the size of the Board if such decrease would require the resignation of the Nominee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(D) The Company shall
take or cause to be taken all lawful action necessary to ensure at all times that the Company&rsquo;s certificate of incorporation,
bylaws and any other governance documents are not at any time inconsistent with the provisions of this Section 4.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(E) From the date of
this Agreement and so long as the Investor is entitled to nominate a director pursuant to this Agreement and the Nominee is actually
elected as a director of the Company (such period, the &ldquo;<U>Cooperation Period</U>&rdquo;) unless the Nominee is not elected
as a result of his resignation or death in which case the Cooperation Period shall continue for the period that the Investor and
its affiliates hold 10% or more of the issued and outstanding shares of Common Stock of the Company, the Investor shall cause all
Voting Securities (as defined below) that it and its affiliates are entitled to vote at each Annual Meeting (whether held of record
or beneficially) to be present for quorum purposes and to be voted in favor of the election of each of the Board's incumbent nominees
and the additional nominee(s) referred to in paragraph 4(C) hereof, if any is proposed by the Company, for election as a director.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(F) During the Cooperation
Period, without the approval of the Board, the Investor shall not and shall cause its affiliates, associates and Representatives
(as such terms are defined below) not to:</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">i. effect
or seek, offer or propose (whether publicly or otherwise) to effect, or announce any intention to effect or cause or participate
in or in any way assist, facilitate or encourage any other individual, general or limited partnership, corporation, limited liability
or unlimited liability company, joint venture, estate, trust, group, association or other entity of any kind or structure (collectively,
a &quot;<U>Person</U>&quot;) to effect or seek, offer or propose (whether publicly or otherwise) to effect or participate in, any
&quot;solicitation&quot; of &quot;proxies&quot; (as such terms are used in the proxy rules of the SEC) to vote any Voting Securities
of the Company or consent to any action from any holder of any Voting Securities of the Company or conduct or suggest any binding
or nonbinding referendum or resolution or seek to advise, encourage or influence any Person with respect to the voting of or the
granting of any consent with respect to any Voting Securities of the Company; provided, however, that the foregoing shall not in
any way limit the ability of the Investor, or any of its affiliates, to vote or tender any Voting Securities pursuant to any solicitation
by a third party, subject to the provisions of Section 4(F) hereof or any solicitation in respect of voting for election of directors
pursuant to this Section 4;</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">ii. propose
(except for the Nominee) or nominate, or cause or encourage any Person to propose or nominate, any candidates to stand for election
to the Board, or seek the removal of any member (except for the Nominee) of the Board;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">iii. form,
join or otherwise participate in any &quot;partnership, limited partnership, syndicate or other group&quot; (other than any group
among some or all of the affiliates of Investor) within the meaning of Section 13(d)(3) of the Exchange Act (as such term is defined
below) with respect to the Common Stock, or deposit any shares of Common Stock in a voting trust or similar arrangement, or subject
any shares of Common Stock to any voting agreement or pooling arrangement, or grant any proxy with respect to any shares of Common
Stock (other than to a designated representative of the Company pursuant to a proxy statement of the Company) or otherwise act
in concert with any Person with respect to the Common Stock (other than affiliates of Investor);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">iv. otherwise
publicly act, alone or in concert with others, to control or seek to control, to seek representation on, or to influence or seek
to influence, whether through litigation or otherwise, the management, the Board or the policies of the Company; provided, however,
that nothing herein shall prohibit (i) the Investor from complying with legal or regulatory requirements, including, without limitation,
the filing of any report or schedule required to be filed with the SEC, or (ii) the Nominee to exercise its rights or discharge
its obligations as a director of the Company; provided, further, that the Investor, acting alone, may privately communicate its
views to members of the Company's management team or to members of the Board; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">v. otherwise
take, or solicit, cause or encourage others to take, any action inconsistent with any of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">vi. Notwithstanding
anything in this Agreement to the contrary, nothing in this Section 4(F) shall be deemed to in any way restrict or otherwise limit
the Nominee from (i) performing his fiduciary duties as a director of the Company, once elected, or (ii) exercising his rights
as a director of the Company, once elected.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(G) D&amp;O Insurance.
The Company shall procure that the Nominee shall be entitled to indemnification arrangements and director and officer insurance
coverage equivalent to such arrangements and insurance coverage applicable to all non-employee directors of the Company or to which
all non-employee directors of the Company are entitled to receive.</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(H)&#9;Definitions.&#9;For purposes of this Agreement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">i. the terms
&ldquo;<U>affiliate</U>&rdquo; and &ldquo;<U>associate</U>&rdquo; shall have the respective meanings set forth in Rule 12b-2 promulgated
by the SEC under the Securities Exchange Act of 1934, as amended (the &ldquo;<U>Exchange Act</U>&rdquo;);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">ii. the
terms &ldquo;<U>beneficial owner</U>&rdquo; and &ldquo;<U>beneficially own</U>&rdquo; shall have the same meanings as set forth
in Rule 13d-3 promulgated by the SEC under the Exchange Act except that a Person shall also be deemed to be the beneficial owner
of all shares of Common Stock which such person has the right to acquire (whether such right is exercisable immediately or only
after the passage of time) pursuant to the exercise of any rights in connection with any securities or any agreement, arrangement
or understanding (whether or not in writing), regardless of when such rights may be exercised and whether they are conditional,
and all shares of Common Stock which such Person or any of such Person&rsquo;s affiliates or associates has or shares the right
to vote or dispose;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">iii. the
term &ldquo;<U>Representatives</U>&rdquo; shall mean, with respect to any Person, such Person's officers, directors, members, general
partners, employees, counsel and financial advisors; and</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">iv. &nbsp;the
term &quot;<U>Voting Securities</U>&quot; shall mean the shares of the Company's Common Stock and any other securities of the Company
entitled to vote in the election of directors, or securities convertible into, or exercisable or exchangeable for, the Common Stock
or such other securities, whether or not subject to the passage of time or other contingencies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5. <U>Miscellaneous</U>.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(A) <U>Binding Effect</U>.
This Agreement shall be binding upon and inure to the benefit of the parties to this Agreement and their respective successors
and permitted assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to give any person other
than the parties to this Agreement and their respective successors or permitted assigns any legal or equitable right, remedy or
claim under or in respect of any agreement or any provision contained herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(B) <U>Waiver</U>. Either party hereto may by written notice
to the other (i) extend the time for the performance of any of the obligations or other actions of the other party under this
Agreement; (ii) waive compliance with any of the conditions or covenants of the other party contained in this Agreement; and (iii)
waive or modify performance of any of the obligations of the other party under this Agreement. Except as provided in the preceding
sentence, no action taken pursuant to this Agreement, including, without limitation, any investigation by or on behalf of either
party, shall be deemed to constitute a waiver by the party taking such action of compliance with any representations, warranties,
covenants or agreements contained herein. The waiver by either party hereto of a breach of any provision of this Agreement shall
not operate or be construed as a waiver of any preceding or succeeding breach and no failure by either party to exercise any right
or privilege hereunder shall be deemed a waiver of such party's rights or privileges hereunder or shall be deemed a waiver of
such party's rights to exercise the same at any subsequent time or times hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(C) <U>Disclosure of Transaction</U>. The Company shall issue
a press release and file a current report on Form 8-K with the SEC, describing the transactions contemplated by this Agreement,
and provide a copy of the proposed press release and Form 8-K to the Investor in advance of issuance or filing, as the case may
be, on or before 9:00 a.m., New York City time, on the second business day following entry into this agreement. The parties hereto
acknowledge, confirm and agree that each party (or its parent company) shall be entitled, without the prior approval of the other
party, to make any press release or other public disclosure with respect to the transactions contemplated hereby as is required
by applicable law, regulations and stock exchange rules.</P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(D) <U>Notices</U>. All notices and other communications given
or made pursuant hereto shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to
be notified, (b) when sent by confirmed facsimile or e-mail if sent during normal business hours of the recipient; if not, then
on the next business day, (c) five (5) days after deposit with an internationally recognized courier with written verification
of receipt. All communications shall be sent to the Company and to the Investor at the addresses for the Company and the Investor
on the counterpart signature page(s) hereto (or at such other addresses as shall be specified by notice given in accordance with
this Section.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(E) <U>Amendments</U>. Neither this Agreement nor any term
or provision hereof may be amended, modified, waived or supplemented orally, but only by a written instrument executed by the
parties hereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(F)&nbsp;<U>Assignability</U>.
Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable
by either the Company or the Investor without the prior written consent of the other party.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(G)&nbsp;<U>Applicable Law</U>.
This Agreement shall be governed by and construed in accordance with the law of the State of Delaware, United States of America,
regardless of the law that might be applied under principles of conflicts of law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(H)&nbsp;<U>Entire Agreement</U>.
This Agreement and the Registration Rights Agreement constitute the entire agreement between the parties with respect to the subject
matter hereof and thereof and no party shall be liable or bound to any other party in any manner by any warranties, representations,
or covenants except as specifically set forth herein or therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(I)&nbsp;<U>Counterparts</U>.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. This Agreement and any counterpart hereof may be executed and delivered by facsimile copies or executed
and delivered by electronic communications by portable document format (.pdf), each of which shall be deemed an original.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(J)&nbsp;<U>Section Headings</U>.
The section headings used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.</P>

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

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

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPANY</B>:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 7%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 30%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 10%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>JAKKS Pacific, Inc.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2951 28th Street</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Santa Monica, CA 90405</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INVESTOR</B>:</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 7%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 30%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 10%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Hongkong Meisheng Culture Company Ltd.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Address: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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

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

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

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

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

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

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

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

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

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

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

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<FILENAME>v461823_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.85pt 0pt 0; text-indent: 30.85pt">This Registration Rights Agreement
(this &quot;Agreement&quot;) is made and entered into as of March ___, 2017 between <B>JAKKS PACIFIC, INC., </B>a Delaware corporation
(the &quot;Company&quot;), and <B>HONGKONG MEISHENG CULTURE COMPANY LTD.</B>, a company incorporated in Hong Kong (the &quot;Investor&quot;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 30.85pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.85pt">The parties to this Agreement, intending to be legally
bound hereby, agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.3pt 0pt 0; text-indent: 34.3pt">1.&nbsp;<U>Definitions</U>.
As used in this Agreement, the following terms shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.3pt 0pt 0; text-indent: 34.3pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&quot;Affiliate&quot; has
the meaning ascribed to that term in Rule 1-02 of Regulation S-X promulgated under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&quot;Common Stock&quot; means
common stock of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&quot;Effective Date&quot;
means the date of this Agreement set forth above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&quot;Exchange Act&quot; means
the Securities Exchange Act of 1934, as amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&ldquo;Holder&rdquo; means
any Person that holds Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 41.15pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&quot;Initiating Holder&quot; means the
Holder(s) that holds at least 750,000 (as adjusted for split, reverse splits or similar transactions) shares of Common Stock that
are Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&quot;Person&quot; means an individual,
partnership, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&quot;Prospectus&quot; means the prospectus
included in any Registration Statement, as amended or supplemented by any prospectus supplement and by all other amendments, and
supplements to such prospectus, including post-effective amendments and all information incorporated by reference in such prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.85pt 0pt 0; text-indent: 30.85pt">&quot;Registrable Securities&quot;
means any shares of Common Stock held by the Investor or any of its Affiliates, permitted transferee or assigns; <U>provided</U>,
<U>however</U>, that shares of Common Stock that are Registrable Securities shall cease to be Registrable Securities upon the sale
thereof pursuant to an effective Registration Statement or pursuant to Rule 144 (or successor rule) under the Securities Act; and
<U>provided</U>, <U>further</U>, that the Company shall have no obligation hereunder to register any Registrable Securities of
a Holder if the Company shall deliver to that Holder an opinion of counsel satisfactory to such Holder and its counsel (whose approval
shall not be unreasonably withheld) to the effect that the sale or disposition of all of the Registrable Securities does not require
registration under the Securities Act for a sale or disposition in a single public sale, and offers to remove any and all legends
restricting transfer from the certificates evidencing such Registrable Securities in connection with any such sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.85pt 0pt 0; text-indent: 30.85pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&quot;Registration Expenses&quot; means
all registration and filing fees, fees with respect to filings required to be made with the Financial Industry Regulatory Authority
(&ldquo;FINRA&rdquo;), the New York Stock Exchange (the &quot;NYSE&quot;), the Nasdaq Stock Market or any other exchange or market
in which Registrable Securities are to be quoted or listed for trading, fees and expenses of compliance with securities or blue
sky laws, printing expenses, messenger, telephone and distribution expenses associated with the preparation and distribution of
any Registration Statement, any Prospectus, and amendments or supplements thereto, and any other documents relating to the performance
of and compliance with this Agreement, all fees and expenses associated with the listing of any Registrable Securities on any securities
exchange or exchanges, and fees and disbursements of counsel for the Company and its independent certified public accountants and
the fees and expenses of other persons retained by the Company, but specifically excluding any Selling Expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&quot;Registration Statement&quot; means
any registration statement of the Company filed under the Securities Act including the Prospectus forming a part thereof, amendments
and supplements to such Registration Statement, including post-effective amendments, and all exhibits to and all information incorporated
by reference in such Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.1pt">&quot;SEC&quot; means the Securities and Exchange
Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&quot;Securities Act&quot; means the Securities
Act of 1933, as amended from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 31.1pt">&quot;Selling Expenses&quot;
means, with respect to any Holder, underwriting discounts, selling commissions and stock transfer or documentary stamp taxes, if
any, applicable to any Registrable Securities registered and sold by such Holder<B>, </B>and all fees and disbursements of any
counsel for such holder or any underwriter or sales agent retained by a Holder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&quot;Selling Holders&quot; means the Holders
participating in any offering effected pursuant to a Registration Statement filed by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.35pt 0pt 0; text-indent: 31.1pt">2.&nbsp;<U>Securities
Subject to this Agreement</U>. The only securities entitled to the benefits of this Agreement are the Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 10.35pt 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">3.&nbsp;<U>Registration
of Registrable Securities</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"><I>3.1&nbsp;Post-Closing
Registration</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;The
Company shall file with the SEC a Registration Statement in accordance with the provisions of the Securities Act for the offering
and sale of the Registrable Securities within forty-five (45) days of the date hereof (the &ldquo;Filing Deadline&rdquo;). A registration
pursuant to this Subsection 3.1(a) shall be on such appropriate registration form of the SEC as shall (i) be selected by the Company,
and (ii) shall permit the disposition of the Registrable Securities in accordance with the intended method or methods of disposition
specified by the Initiating Holder. No Holder shall be named as an &ldquo;underwriter&rdquo; in such Registration Statement without
such Holder&rsquo;s prior written consent unless required by law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;The
Company shall use its reasonable best efforts in having such Registration Statement become effective as soon as practicable after
its filing and in any event no later than forty-five (45) days after the filing of such Registration Statement and then cause it
to remain effective and in compliance with the provisions of the Securities Act with respect to the disposition of all Registrable
Securities covered by such Registration Statement until such time as all of such Registrable Securities have been disposed of in
accordance with the intended methods of disposition by the Selling Holders thereof set forth in such Registration Statement or
such earlier date that such Registrable Securities can be disposed of without restriction under Rule 144 (the &ldquo;Effectiveness
Period&rdquo;). The Company further agrees to supplement or make amendments to the Registration Statement, if required by the rules,
regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or rules and regulations
thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"><I>3.2&nbsp;Demand
Registration</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">(a)&nbsp;<U>Form
S-1 Demand</U>. If, at any time after the Filing Deadline and prior to the expiration of the Effectiveness Period, (x) a Registration
Statement covering the sale of all of the Registrable Securities is not then effective and available for sales thereof by the Holders,
(y) the Company is not eligible to use a Form S-3 registration statement, and (z) the Company receives a request from the Initiating
Holder that the Company file a Form S-1 registration statement with respect to the Registrable Securities then outstanding, then
the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the &ldquo;Demand Notice&rdquo;)
to all Holders other than the Initiating Holders; and (y) as soon as practicable, and in any event within forty-five (45) days
after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the Securities Act
covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities
requested to be included in such registration by any other Holders, as specified by notice given by each such Holder to the Company
within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 3.2(c)
and 3.4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">(b)&nbsp;<U>Form
S-3 Demand</U>. If, at any time after the Filing Deadline and prior to the expiration of the Effectiveness Period, (x) a Registration
Statement covering the sale of all of the Registrable Securities is not then effective and available for sales thereof by the Holders,
(y) the Company is eligible to use a Form S-3 registration statement, and (z) the Company receives a request from the Initiating
Holder that the Company file a Form S-3 registration statement with respect to the outstanding Registrable Securities of such Holders
having an anticipated aggregate offering price, net of Selling Expenses, of at least $3 million, then the Company shall (i) within
ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and
(ii) as soon as practicable, and in any event within thirty (30) days after the date such request is given by the Initiating Holders,
file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in
such registration by any other Holders, as specified by notice given by each such Holder to the Company within fifteen (15) days
of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 3.2(c) and 3.4(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">(c)&nbsp;Notwithstanding
the foregoing obligations, if the Company furnishes to Holders requesting a registration pursuant to this Subsection 3.2 a certificate
signed by the Company&rsquo;s chief executive officer stating that in the good faith judgment of the Company&rsquo;s Board of Directors
it would be materially detrimental to the Company and its stockholders for such registration statement to either become effective
or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action
would (i) materially interfere with a significant acquisition, corporate reorganization, or other similar transaction involving
the Company or other material transaction then pending or in progress; (ii) require premature disclosure of material information
that the Company has a bona fide business purpose for preserving as confidential; or (iii) render the Company unable to comply
with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect
to such filing, and any time periods with respect to filing or effectiveness thereof shall be tolled correspondingly, for a period
of not more than one hundred and eighty (180) days after the request of the Initiating Holders is given; provided, however, that
the Company shall not register any securities for its own account or that of any other stockholder during such one hundred and
eighty (180) day period other than pursuant to (i) a registration relating to the sale of securities to employees of the Company
or a subsidiary pursuant to a stock option, stock purchase, or similar plan; (ii) a registration on any form that does not include
substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable
Securities; or (iii) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of
debt securities or exercise of the warrant currently outstanding that are also being registered (collectively, the &ldquo;Excluded
Registrations&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">(d)&nbsp;The
Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 3.2(a) (i) during
the period that is sixty (60) days before the Company&rsquo;s good faith estimate of the date of filing of, and ending on a date
that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively employing
in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company
has effected two registrations pursuant to Subsection 3.2(a); or (iii) if the Initiating Holders propose to dispose of shares of
Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Subsection 3.2(b).
The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 3.2(b),
(i) during the period that is thirty (30) days before the Company&rsquo;s good faith estimate of the date of filing of, and ending
on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is
actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii)
if the Company has effected two (2) registrations pursuant to Subsection 3.2(b) within the twelve (12) month period immediately
preceding the date of such request. A registration shall not be counted as &ldquo;effected&rdquo; for purposes of this Subsection
3.2(d) until such time as the applicable registration statement has been declared effective by the SEC, unless the Initiating Holders
withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one
demand registration statement pursuant to Subsection 3.2(a), in which case such withdrawn registration statement shall be counted
as &ldquo;effected&rdquo; for purposes of this Subsection 3.2(d).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"><I>3.3&nbsp;Piggyback
Registration.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">If, at any time after the Filing Deadline
and prior to the expiration of the Effectiveness Period, the Company proposes to register (including, for this purpose, a registration
effected by the Company for stockholders other than the Holders) any of its securities under the Securities Act in connection with
the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time,
promptly give each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such
notice is given by the Company, the Company shall, subject to the provisions of Subsection 3.4(b), cause to be registered all of
the Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the
right to terminate or withdraw any registration initiated by it under this Subsection 3.3 before the effective date of such registration,
whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling
Expenses) of such withdrawn registration shall be borne by the Company in accordance with Section 5.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"><I>3.4&nbsp;Underwriting
Requirements</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;In
any registration make pursuant to Subsection 3.2, if any of the Registrable Securities are to be sold in an underwritten offering,
the investment banker or investment bankers and manager or managers that will administer the offering will be selected by the holders
of a majority of the Registrable Securities included in such offering; provided that their selection of such investment bankers
and managers is subject to consent of the Company, not to be unreasonably withheld. Notwithstanding any other provision of this
Agreement, in any registration make pursuant to Subsection 3.2, if the managing underwriter(s) advise(s) the Initiating Holder
in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating Holder shall
so advise all Holders that otherwise would be underwritten pursuant hereto, and the number of Registrable Shares that may be included
in the underwriting shall be allocated among such Holders, including the Initiating Holder, in proportion (as nearly as practicable)
to the number of Registrable Shares owned by each Holder or in such other proportion as shall mutually be agreed to by all such
Selling Holders; provided, however, that the number of Registrable Shares held by the Holders to be included in such underwriting
shall not be reduced unless all other securities are first entirely excluded from the underwriting. In connection with such an
underwritten offering, the Company shall enter into and perform its obligations under an underwriting agreement, in customary form,
with the underwriter(s) of such offering and the Company shall comply with all customary requests by such underwriter(s), including,
but not limited to, the delivery of a legal opinion, negative assurance letter and comfort letter, providing due diligence materials
as reasonably requested by the underwriter(s).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;In
connection with any offering involving an underwriting of the Company&rsquo;s securities, the Company shall not be required to
register the Registrable Securities of a Holder under Subsection 3.3 unless such Holder&rsquo;s Registrable Securities are included
in the underwritten offering and such Holder enters into an underwriting agreement in customary form with the underwriter or underwriters
of internationally recognized standing selected by the Company and setting forth such terms for the underwritten offering as have
been agreed upon between the Company and the underwriters. In the event the underwriters advise the Holders in writing that market
factors (including the aggregate number of Registrable Securities requested to be registered, the general condition of the market,
and the status of the persons proposing to sell securities pursuant to the registration) require a limitation of the number of
Registrable Securities to be underwritten, the underwriters may exclude any or all of the Registrable Securities requested to be
registered but only after first excluding all other securities (except for securities sold for the account of the Company) from
the registration and underwriting. To facilitate the allocation of shares in accordance with the above provisions, the Company
or the underwriters may round the number of shares allocated to Investor to the nearest one hundred (100) shares.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.1pt">4.&nbsp;<U>Registration
Procedures</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.8pt 0pt 0; text-indent: 65.65pt">In connection with the Company's
obligations under Section 3, the Company shall use all reasonable efforts to effect such registration to permit the sale of such
Registrable Securities in accordance with the intended method or methods of distribution thereof, and pursuant thereto the Company
shall as expeditiously as practicable:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 13.8pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">(a)&nbsp;prepare
and file with the SEC, as soon as practicable and within the applicable timeline specified in Section 3, a Registration Statement
on an appropriate registration form, which Registration Statement shall comply as to form in all material respects with the requirements
of the applicable form and include or incorporate by reference all financial statements required by the SEC to be filed therewith
or incorporated by reference therein, and in either case use all reasonable efforts to cause such Registration Statement to become
effective and remain effective in accordance with Subsection 3.1(b); <U>provided</U>, <U>however</U>, that before filing a Registration
Statement or Prospectus or any amendment or supplement thereto, including information incorporated by reference after the initial
filing of the Registration Statement, the Company shall furnish to one firm of counsel for the holders of the Registrable Securities
covered by such Registration Statement copies of all such documents in substantially the form proposed to be filed (including,
upon request, any and all exhibits thereto), which documents shall be subject to the reasonable and prompt review of such holders
and underwriters;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">(b)&nbsp;prepare
and file with the SEC such amendments and post-effective amendments to such Registration Statement as may be necessary to keep
the Registration Statement effective for the applicable period, or such shorter period which shall terminate when all Registrable
Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by any required Prospectus
supplement, and to be filed pursuant to Rule 424 under the Securities Act; and otherwise take all such actions as may be necessary
to cause the Registration Statement to comply with the provisions of the Securities Act with respect to the disposition of all
securities covered by such Registration Statement during the applicable period in accordance with the intended method or methods
of distribution by the Selling Holders set forth in such Registration Statement or supplement to the Prospectus;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">(c)&nbsp;notify
the Selling Holders promptly, and (if requested by any such person) confirm such advice in writing promptly, (i) when the Prospectus
or any Prospectus supplement or post-effective amendment to the Registration Statement has been filed, and, with respect to such
Registration Statement or any post-effective amendment thereto, when the same becomes effective, (ii) of any comments of the SEC
or any state securities authority with regard to the Registration Statement and of any request by the SEC or any state securities
authority for amendments or supplements to the Registration Statement or the Prospectus or for additional information, (iii) of
the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of the Registration Statement
or the initiation of any proceedings for that purpose, (iv) of the receipt by the Company of any notification with respect to the
suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of
any proceeding for such purpose, and (v) of the happening of any event or the discovery of any facts that makes any statement made
in the Registration Statement, the Prospectus or any document incorporated therein by reference untrue in any material respect
or which requires the making of any changes in the Registration Statement, the Prospectus or any document incorporated therein
by reference in order to make the statements therein not contain an untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein not misleading;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.25pt 0pt 0; text-indent: 65.05pt">(d)&nbsp;make
every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of the Registration Statement at the
earliest possible time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 34.25pt 0pt 0; text-indent: 65.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.85pt 0pt 0; text-indent: 65.05pt">(e)&nbsp;unless
available for review on the SEC&rsquo;s or the Company&rsquo;s internet website, furnish to each Selling Holder, without charge,
at least one copy of the Registration Statement, any amendment (including any post-effective amendment) thereto, including financial
statements and schedules, all Documents incorporated therein by reference and all exhibits (including those incorporated by reference);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.85pt 0pt 0; text-indent: 65.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">(f)&nbsp;unless
available for review on the SEC&rsquo;s or the Company&rsquo;s internet website, deliver to each Selling Holder, without charge,
as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such persons
may reasonably request;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.05pt">(g)&nbsp;prior
to any public offering of Registrable Securities, use the Company's reasonable efforts to (i) register or qualify or cooperate
with the Selling Holders and their counsel in connection with the registration or qualification of such Registrable Securities
for offer and sale under the state securities or blue sky laws of one (1) jurisdiction in the United States as the Selling Holder
reasonably requests in writing and (ii) do any and all other acts or things necessary or advisable to enable the disposition in
such jurisdiction of the Registrable Securities covered by the Registration Statement; <U>provided</U> that the Company shall not
be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which
would subject it to general service of process or taxation in any such jurisdiction where it is not then so subject;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.05pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">(h)&nbsp;cooperate
with the Selling Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities
to be sold without any restrictive legends; and enable such Registrable Securities to be in such denominations and registered in
such names as the Selling Holders may request within two (2) business days of the later of the effective date of the Registration
Statement and the date a Selling Holder delivers its certificates with the restrictive legend;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">(i)&#9;upon the occurrence of any event
contemplated by clause (v) of paragraph (c) above, prepare a supplement or post-effective amendment to the Registration Statement
or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter
delivered to purchasers of the Registrable Securities, the Prospectus shall not contain an untrue statement of a material fact
or omit to state any material fact necessary to make the statements therein not misleading;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">(j)&nbsp;use
all reasonable efforts to cause all Registrable Securities covered by the Registration Statement to be listed on each securities
exchange, if any, on which the Common Stock is then listed or on the Nasdaq Global Select Market, if the Common Stock is then traded
thereon;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(k)&nbsp;make
available for inspection by a representative of the Selling Holders, one firm of attorneys and one firm of accountants retained
by the Selling Holder or Holders, all financial and other records and all pertinent corporate documents and properties of the Company
as shall be reasonably requested by them, and cause the Company's officers, directors and employees to be reasonably available
for discussions with and to supply all information reasonably requested by any such representative, attorney or accountant in connection
with such Registration Statement; provided, that any records, information or documents shall be kept confidential by such persons
unless disclosure of such records, information or documents is required by applicable laws, rules and regulations, stock exchange
rules, or court or administrative order or becomes publicly available and if the Company so elects, need not be disclosed by the
Company unless each such person signs a confidentiality agreement reasonably satisfactory to the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 67.5pt">(l)&nbsp;use
all reasonable efforts to comply with all applicable rules and regulations of the SEC and make generally available to its security
holders, as provided in Rule 158 or otherwise, an earnings statement satisfying the provisions of Section 11(a) of the Securities
Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 67.5pt">(m)&nbsp;promptly
after the filing of any document which is to be incorporated by reference into the Registration Statement or Prospectus (after
initial filing of the Registration Statement), unless such document is available to be reviewed on the SEC&rsquo;s or the Company&rsquo;s
internet website, provide copies of such document to counsel to the Selling Holders and to the managing underwriter or underwriters,
if any; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">(n)&nbsp;otherwise
reasonably cooperate with the Selling Holders to carry out the intent of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">It shall be a condition precedent
to the obligations of the Company to take any action pursuant to this Agreement with respect to the Registrable Securities of any
Initiating or Selling Holder that such Initiating or Selling Holder cooperates with the Company in preparing such registration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 6.9pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">Each Selling Holder agrees that upon receipt
of any notice from the Company of the happening of any event of the kind described in Section 4(c)(v) hereof, such holder shall
forthwith discontinue disposition of such Registrable Securities until such holder's receipt of the copies of the supplemented
or amended Prospectus contemplated by Section 4(i), or until it is advised in writing (the &quot;Advice&quot;) by the Company that
the use of the Prospectus may be resumed, and has, unless such document is available to be reviewed on the SEC&rsquo;s or the Company&rsquo;s
internet website, received copies of any additional or supplemental filings which are incorporated by reference in the Prospectus,
and, if so directed by the Company, such holder shall deliver to the Company (at the Company's expense) all copies, other than
permanent file copies then in such holder's possession, of the Prospectus covering such Registrable Securities current at the time
of receipt of such notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">5.&nbsp;<U>Expenses
of Registration</U>. All Registration Expenses incurred in connection with any registration commenced in accordance with Section
3 shall be borne by the Company; <U>provided</U>, however, that the Company shall not be required to pay for any expenses of any
registration proceeding begun pursuant to Section 3 if the registration is subsequently withdrawn at the request of the Initiating
Holder or Holders (in which case all Selling Holders shall bear such expense), unless Holders whose Registrable Securities constitute
a majority of the Registrable Securities then outstanding agree that such withdrawn registration shall constitute the registration
required by Section 3 hereof. All Selling Expenses relating to Registrable Securities registered on behalf of any person shall
be borne by such person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.15pt 0pt 0; text-indent: 31.1pt">6.&nbsp;<U>Indemnification</U>.
If any Registrable Securities are included in a Registration Statement under this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 24.15pt 0pt 0; text-indent: 31.1pt">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;<U>Indemnification
by Company</U>. The Company shall indemnify and hold harmless, to the full extent permitted by law, each Selling Holder, its officers,
directors and employees and each person who controls such holder (within the meaning of the Securities Act) against all losses,
claims, damages, liabilities and expenses arising out of any untrue or alleged untrue statement of a material fact contained in
any Registration Statement (or amendment (including any post-effective amendment) or supplement thereto), Prospectus or preliminary
Prospectus or any amendment or supplement thereto, including all documents incorporated therein by reference, or any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading and will reimburse each Holder and each person controlling such Holder for reasonable legal and other expenses reasonably
incurred in connection with investigating or defending any such claim, loss, damage, liability or action as incurred, except insofar
as such statements are made in reliance upon and in conformity with information furnished in writing to the Company by such holder
expressly for use therein or by such holder's failure to deliver a copy of the Registration Statement or Prospectus after the Company
has furnished such holder with a sufficient number of copies of the same. The indemnification required by this Section 6(a) shall
not apply to amounts paid in settlement of any such loss, claim, damage, liability or expense if such settlement is effected without
the consent of the Company (which consent shall not be unreasonably withheld).</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;<U>Indemnification
by Holder of Registrable Securities</U>. In connection with a Registration Statement, each holder of Registrable Securities covered
thereby shall furnish to the Company in writing such information as the Company reasonably requests for use in connection with
any Registration Statement (or amendment (including any post-effective amendment) or supplement thereto) or Prospectus (or any
amendment or supplement thereto) and shall indemnify and hold harmless, to the full extent permitted by law, the Company, its directors,
officers and employees and each person who controls the Company (within the meaning of the Securities Act) untrue or alleged untrue
statement of a material fact or any omission or alleged omission of a material fact required to be stated in the Registration Statement
(or amendment (including any post-effective amendment) or supplement thereto) or Prospectus or preliminary Prospectus (or any amendment
or supplement thereto), including all documents incorporated therein by reference or necessary to make the statements therein not
misleading, to the extent, but only to the extent, that such untrue statement is contained or omission was made in reliance upon
and in conformity with written information concerning such Holder furnished to the Company in writing expressly for inclusion therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&nbsp;<U>Conduct
of Indemnification Proceedings</U>. Any person entitled to indemnification hereunder shall (i) give prompt notice to the indemnifying
party of any claim (including but not limited to the commencement of any action, suit, proceeding investigation or threat thereof
made in writing) with respect to which it seeks indemnification and (ii) permit such indemnifying party to assume jointly with
any other indemnifying party similarly noticed the defense of such claim with counsel reasonably satisfactory to the indemnified
party, <U>provided</U>, <U>however</U>, that any person entitled to indemnification hereunder shall have the right to employ separate
counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such
person unless (a) the indemnifying party has agreed to pay such fees or expenses, or (b) the indemnifying party shall have failed
to assume the defense of such claim and employ counsel reasonably satisfactory to such person, or (c) the named parties to any
such action, claim or proceeding (including any impleaded parties) include both such indemnified party and the indemnifying party
and, in the reasonable judgment of the indemnified party, based upon written advice of its counsel a conflict of interest may exist
between such person and the indemnifying party with respect to such claims as a result of the existence of legal defenses for such
person that are materially different from or in addition to those available to the indemnifying party (in which case, if the person
notifies the indemnifying party in writing that such person elects to employ separate counsel at the expense of the indemnifying
party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person). If such defense
is not assumed by the indemnifying party, the indemnifying party shall not be subject to any liability for any settlement or consent
to judgment made without its consent (but if such consent is requested, such consent shall not be unreasonably withheld). No indemnified
party shall be required to consent to entry of any judgment or enter into any settlement which does not include as an unconditional
tern thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation. An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be
obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect
to such claim, unless in the reasonable judgment of any indemnified party, after consultation with counsel, a conflict of interest
may exist between such indemnified party and any other of such indemnified parties or there may exist legal defenses for such indemnified
party that are materially different from or in addition to those available to the other indemnified parties with respect to such
claim, in which event the indemnifying party shall be obligated to pay the fees and expenses of such additional counsel or counsels.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&nbsp;<U>Contribution</U>.
If for any reason the indemnification provided for in the preceding clauses (a) and (b) is unavailable to an indemnified party
or insufficient to hold it harmless as contemplated by the preceding clauses (a) and (b), then the indemnifying party shall contribute
to the amount paid or payable by the indemnified party as a result of such loss, claim, damage or liability (i) in such proportion
as is appropriate to reflect the relative fault of the indemnified party and the indemnifying party, or (ii) if the allocation
provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefits
received by the indemnified party and the indemnifying party as well as their relative fault and any other relevant equitable considerations.
The relative fault of the indemnified party and the indemnifying party shall be determined by reference to, among other things,
whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by the indemnified party or the indemnifying party and each party's relative intent knowledge,
access to information and opportunity to correct or prevent such statement or omission. No person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">7.&nbsp;<U>Current
Public Information</U>. For so long as the Company is subject to the reporting requirements of Section 13 or 15 of the Securities
Exchange Act of 1934, as amended (the &quot;Exchange Act&quot;), the Company covenants that it will file the reports required to
be filed by it under the Securities Act and Section 13(a) or 15(d) of the Exchange Act and the rules and regulations adopted by
the SEC thereunder, and that if it ceases to be so required to file such reports, it will upon the request of any holder of Registrable
Securities (a) make publicly available such information as is necessary to permit sales pursuant to Rule 144 under the Securities
Act, (b) deliver such information to a prospective purchaser as is necessary to permit sales pursuant to Rule 144A under the Securities
Act, and (c) take such further action that is reasonable in the circumstances, in each case, to the extent required from time to
time to enable such holder to sell its Registrable Securities without registration under the Securities Act within the limitation
of the exemptions provided by (i) Rule 144 under the Securities Act, as such Rule may be amended from time to time, (ii) Rule 144A
under the Securities Act, as such Rule may be amended from time to time, or (iii) any similar rules or regulations hereafter adopted
by the SEC. Upon the request of any holder of Registrable Securities, the Company will deliver to such holder a written statement
as to whether it has complied with such requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">8.&nbsp;<U>Holdback</U>.
If so requested by the underwriters' representative or agent in connection with an offering of any securities covered by a registration
statement filed by the Company, each Selling Holder that has its securities included in a Registration Statement prepared pursuant
to this Agreement, to the extent such Holder's securities are actually included therein, shall not effect any public sale or distribution
of shares of Common Stock or any securities convertible into or exchangeable or exercisable for shares of Common Stock, including
a sale pursuant to Rule 144 under the Securities Act (except as part of such underwritten or agented registration), during the
90-day period beginning on, the date such offering of securities is priced, <U>provided </U>that such Holder is timely notified
of such effective date in writing by the Company or such underwriters' representative or agent. In order to enforce the foregoing
covenant the Company shall be entitled to impose stop-transfer instructions with respect to the Registrable Securities of each
such holder until the end of such period<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 31.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt">9.&nbsp;<U>Miscellaneous</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 31.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(a)&nbsp;<U>Amendments
and Waivers</U>. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent
of holders of at least 80% of the Registrable Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(b) <U>Notices</U>.
All notices and other communications given or made pursuant hereto shall be in writing and shall be deemed effectively given: (a)
upon personal delivery to the party to be notified, (b) when sent by confirmed facsimile or e-mail if sent during normal business
hours of the recipient; if not, then on the next business day, (c) five (5) days after deposit with an internationally recognized
courier with written verification of receipt. All communications shall be sent to the Company and to the Investor at the addresses
for the Company and the Investor on the counterpart signature page(s) hereto (or at such other addresses as shall be specified
by notice given in accordance with this Section):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 96.75pt">(i)&nbsp;if
to a holder of Registrable Securities, at the most current address given by such holder to the Company in accordance with the provisions
of this Section 9(b); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 96.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 96.75pt">(ii)&nbsp;if
to the Company, initially at JAKKS Pacific, Inc., 2951 28th St., Santa Monica, CA 90405, Attention: Stephen G. Berman, Chief Executive
Officer, and thereafter at such other address, notice of which is given in accordance with the Provisions of this Section 9(b).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 96.75pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(c)&nbsp;<U>Successors
and Assigns</U>. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each
of the parties. Neither this Agreement, nor any of the parties' respective rights, or obligations hereunder may be assigned by
the Company or by the Investor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(d)&nbsp;<U>Counterparts</U>.
This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(e)&nbsp;<U>Governing
Law</U>. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, applicable to
agreements made and to be performed in the State of Delaware without regard to principles of conflicts of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(f)&nbsp;<U>Severability</U>.
Each provision of this Agreement shall be considered severable, and if for any reason any provision that is not essential to the
effectuation of the basic purposes of the Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable
under existing or future applicable law, such invalidity shall not impair the operation of or affect those provisions of this Agreement
that are valid. In that case, this Agreement shall be construed so as to limit any term or provision so as to make it enforceable
or valid within the requirements of any applicable law, and in the event such term or provision cannot be so limited, this Agreement
shall be construed to omit such invalid or unenforceable provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(g)&nbsp;<U>Entire
Agreement</U>. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.
There are no representations, promises, warranties or undertakings, other than those set forth or referred to herein with respect
to the registration rights granted by the Company hereby. Upon the Effective Date, this Agreement supersedes all prior agreements
and understandings between the parties with respect to such subject matter, and cannot be changed or terminated orally.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 65.65pt">(h)&nbsp;<U>Construction</U>.
As used in this Agreement, unless the context otherwise requires (i) references to &quot;Sections&quot; are to sections of this
Agreement, (ii) &quot;hereof', &quot;herein&quot;, &quot;hereunder&quot; and comparable terms refer to this Agreement in its entirety
and not to any particular part of this Agreement, (iii) the singular includes the plural and the masculine, feminine and neutral
gender each includes the other, (iv) &quot;including&quot; or &quot;includes&quot; shall be deemed to be followed by the phrase
&quot;without limitation&quot;, and (v) headings of the various Sections and subsections are for convenience of reference only
and shall not be given any effect for purposes of interpreting this Agreement.<BR>
<BR>
</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">Witness the due execution hereof,
as of the Effective Date first above written, on behalf of the undersigned thereunto duty authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>JAKKS PACIFIC, INC.</B></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 19%; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 30%; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 5%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0"></TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; font-size: 10pt; text-indent: 0"><FONT STYLE="font-size: 10pt">Address for notices:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">2951 28th Street</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Santa Monica, CA 90405</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 157.7pt; text-indent: 0.5in">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">Witness the due execution hereof,
as of the Effective Date first above written, on behalf of the undersigned thereunto duty authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 3.45pt 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt"><B>HONGKONG MEISHENG CULTURE COMPANY LTD.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 46%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 19%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 30%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding-top: 0; padding-right: 0; padding-left: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt">Address for notices:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>v461823_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

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

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

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JAKKS ANNOUNCES SALE OF $19.3 MILLION
OF COMMON STOCK TO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>JOINT VENTURE PARTNER HONG KONG MEISHENG
CULTURE COMPANY LTD</B>.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>SANTA MONICA, Calif., March 15, 2017</B> &ndash; JAKKS Pacific,
Inc. (NASDAQ: JAKK) today announced that the Company has entered into an agreement with Hong Kong Meisheng Culture Company Ltd.
(&ldquo;Meisheng&rdquo;) to sell 3,660,891 million shares of the Company&rsquo;s common stock to Meisheng for a total purchase
price of $19.3 million. The transaction is subject to approval by the shareholders of Meisheng&rsquo;s parent company (Meisheng
Culture &amp; Creative Corp., Ltd.), and regulatory filings in China by Meisheng.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stephen Berman, JAKKS Chairman and Chief Executive Officer,
stated: &ldquo;As a manufacturer of kids&rsquo; consumer products and toys, as well as animated content, we appreciate the significant
and broad possible new opportunities the Chinese market represents. We are pleased that Meisheng has made the investment decision
to acquire an equity stake in JAKKS. This should fortify our existing relationship as joint venture partners in two jointly owned
companies &ndash; one that distributes JAKKS products in China and the other that develops new animation content owned by JAKKS
and Meisheng. We expect the expanded relationship with Meisheng will put us in an advantageous position to realize greater opportunities
in China.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;We are also pleased to announce that upon closing of
Meisheng&rsquo;s share purchase, Xiaoqiang Zhao, Executive Director of Hong Kong Meisheng Culture Company Ltd. and Chairman of
the Board of its parent company Meisheng Culture &amp; Creative Corp., Ltd., will join us as a member of JAKKS Board of Directors.
He will bring his experience and unique insights to the Board including serving as Chair of a specially created committee aimed
at commercial development in the Greater China region, and will be instrumental in helping us gain greater access to the Chinese
toy market.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Xiaoqiang Zhao stated: &ldquo;Meisheng Culture is one of the
leading companies in China&rsquo;s IP industry through its own IP generation and partnerships with other companies. We have been
creating an IP operation and transformational platform consisting of consumer products, games and media, which centers on IP derivatives.
We believe we have unique advantages in the global IP industry, from creating, designing, manufacturing to distribution and retail
as well as other current and future platforms. Investing in JAKKS is an important factor in our global market strategy. We believe
this investment will contribute to Meisheng&rsquo;s growth and impact in overseas markets. We are optimistic that we will be able
to help JAKKS expand its market share in Asia, and especially in China. I have had a long-term relationship with Stephen Berman
and a great relationship with JAKKS for more than a decade. Asia is an attractive market with lots of consumers with strong buying
power. Together with JAKKS, we look forward to bringing a better experience to consumers in Asia.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;I am honored to be elected as a new member of JAKKS&rsquo;
Board of Directors. I look forward to bringing my decades of experience in consumer goods to the Board and to further support JAKKS&rsquo;
growth along with the other members of the Board.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Meisheng announced in February 2017 that it acquired 1,387,647
shares of the Company&rsquo;s common stock in open market transactions. In addition to the joint venture companies established
by Meisheng and JAKKS, Meisheng Culture &amp; Creative Corp., Ltd. has for many years been a manufacturer for the Company.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>About JAKKS Pacific, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">JAKKS Pacific, Inc. (NASDAQ: JAKK) is a leading designer, manufacturer
and marketer of toys and consumer products sold throughout the world, with its headquarters in Santa Monica, California. JAKKS
Pacific&rsquo;s popular proprietary brands include BIG-FIGS&trade;, XPV&reg;, Max Tow&trade; and Friends, Disguise&reg;, Moose
Mountain&reg;, Funnoodle&reg;, Maui&reg;, Kids Only!&reg;; a wide range of entertainment-inspired products featuring premier licensed
properties; and C&rsquo;est Moi&trade;, a skincare and performance make-up brand. &nbsp; Through JAKKS Cares, the company&rsquo;s
commitment to philanthropy, JAKKS is helping to make a positive impact on the lives of children.&nbsp; Visit us at www.jakks.com&nbsp;and
follow us on Instagram (@jakkstoys), Twitter (@jakkstoys) and Facebook (JAKKS Pacific).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 162.8pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 162.8pt 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 162.8pt 0pt 0; text-align: justify"><I>&copy; 2017 JAKKS Pacific,
Inc. All rights reserved.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Forward Looking Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0">This press release may contain &ldquo;forward-looking
statements&rdquo; (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations,
estimates and projections about JAKKS Pacific's business based partly on assumptions made by its management. These statements are
not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore,
actual outcomes and results may differ materially from what is expressed or forecasted in such statements due to numerous factors,
including, but not limited to, those described above, changes in demand for JAKKS' products, product mix, the timing of customer
orders and deliveries, the impact of competitive products and pricing, and difficulties with integrating acquired businesses. The
&ldquo;forward-looking statements&rdquo; contained herein speak only as of the date on which they are made, and JAKKS undertakes
no obligation to update any of them to reflect events or circumstances after the date of this release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1.8pt 0pt 0">&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>JAKKS CONTACTS:</B></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Sara Rosales Montalvo</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Joel Bennett</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">SaraRM@jakks.net</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">JoelB@jakks.net</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">424-268-9363</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">310-455-6210</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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