<SEC-DOCUMENT>0001558370-16-003745.txt : 20160301
<SEC-HEADER>0001558370-16-003745.hdr.sgml : 20160301
<ACCEPTANCE-DATETIME>20160301163240
ACCESSION NUMBER:		0001558370-16-003745
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20160301
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160301
DATE AS OF CHANGE:		20160301

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLYCOMIMETICS INC
		CENTRAL INDEX KEY:			0001253689
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36177
		FILM NUMBER:		161473835

	BUSINESS ADDRESS:	
		STREET 1:		401 PROFESSIONAL DRIVE, SUITE 250
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20879
		BUSINESS PHONE:		240-243-1201

	MAIL ADDRESS:	
		STREET 1:		401 PROFESSIONAL DRIVE, SUITE 250
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20879
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>glyc-20160301x8k.htm
<DESCRIPTION>8-K
<TEXT>
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			glyc_Current_Folio_8K
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			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;font-size:16pt;">UNITED STATES</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 16pt;">
			<font style="display:inline;font-weight:bold;font-size:16pt;">SECURITIES AND EXCHANGE COMMISSION</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">Washington, D.C.&nbsp;20549</font>
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			<font style="display:inline;">&nbsp;</font>
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			<font style="display:inline;font-weight:bold;font-size:16pt;">FORM&nbsp;8-K</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">CURRENT REPORT</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;">of the Securities Exchange Act of 1934</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">Date of Report (Date of earliest event reported):</font><font style="display:inline;font-weight:bold;">&nbsp;</font><font style="display:inline;font-weight:bold;">March 1</font><font style="display:inline;font-weight:bold;">, &nbsp;</font><font style="display:inline;font-weight:bold;">201</font><font style="display:inline;font-weight:bold;">6</font>
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		<div><hr style="border-width:0;width:25%;height:1pt;color:black;background-color:black;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 18pt;">
			<font style="display:inline;font-weight:bold;font-size:18pt;">GLYCOMIMETICS</font><font style="display:inline;font-weight:bold;font-size:18pt;">,&nbsp;INC.</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">(Exact name of registrant as specified in its charter)</font>
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			<font style="display:inline;">&nbsp;</font>
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		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">Delaware</font></p>
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					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">(State or other jurisdiction of incorporation)</font></p>
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						&nbsp;</p>
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						&nbsp;</p>
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					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">001-36177</font></p>
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					<p style="margin:0pt;font-family:Tms Rmn;font-size: 1pt;">
						<font style="display:inline;font-weight:bold;font-size:1pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-weight:bold;">06-1686563</font></p>
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					<p style="margin:0pt 0pt 0pt 7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">(Commission</font><br /><font style="display:inline;"></font><font style="display:inline;">File No.)</font></p>
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						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
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					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">(IRS Employer</font><br /><font style="display:inline;"></font><font style="display:inline;">Identification No.)</font></p>
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		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:black;background-color:black;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">9708 Medical Center Drive</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">Rockville, MD 20850</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font><font style="display:inline;">(Address of principal executive offices and zip code)</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">Registrant&#x2019;s telephone number, including area code:</font><font style="display:inline;font-weight:bold;">&nbsp;(</font><font style="display:inline;font-weight:bold;">240</font><font style="display:inline;font-weight:bold;">)&nbsp;</font><font style="display:inline;font-weight:bold;">243</font><font style="display:inline;font-weight:bold;">-</font><font style="display:inline;font-weight:bold;">1201</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">(Former name or former address, if changed since last report.)</font>
		</p>
		<div><hr style="border-width:0;width:25%;height:1pt;color:black;background-color:black;" align="center"></hr></div>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 22.5pt;text-indent: -22.5pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</font>
		</p>
		<p style="margin:0pt 0pt 0pt 22.5pt;text-indent: -22.5pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</font>
		</p>
		<p style="margin:0pt 0pt 0pt 22.5pt;text-indent: -22.5pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b))</font>
		</p>
		<p style="margin:0pt 0pt 0pt 22.5pt;text-indent: -22.5pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&#x2610;</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c))</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -72pt;font-family:Tms Rmn;font-size: 12pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-size:12pt;"></font>
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		<p style="margin:0pt 0pt 0pt 54pt;text-indent: -54pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt 0pt 0pt 54pt;text-indent: -54pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;"><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">Item&nbsp;1.01.</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;color:#000000;text-decoration:underline;">Entry into a Material Definitive Agreement.</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">On </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">March 1</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">, &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">201</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">6</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">, &nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">GlycoMimetics</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">, Inc. (the &#x201C;Company&#x201D;) entered into an at</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">-</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">the</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">-</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">market issuance </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">s</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">ales </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">a</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">greement (the &#x201C;Agreement&#x201D;) with Cowen and Company, LLC (&#x201C;Cowen&#x201D;) under which </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">the Company</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;"> may offer and sell, from time to time at its sole discretion, shares of its common stock, par value $0.001 per share (the &#x201C;Common Stock&#x201D;), having an aggre</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">gate offering price of up to $</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">40</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">,000,000 through Cowen as its sales agent. </font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Also o</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">n March 1, 2016, the Company filed a prospectus supplement offering </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">up to </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">$19,000,000 of shares of its </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">C</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">ommon </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">S</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">tock in accordance with the Agreement.&nbsp; </font><font style="display:inline;color:#000000;">The Company</font><font style="display:inline;color:#000000;"> will be required to file another prospectus supplement in the event </font><font style="display:inline;color:#000000;">the Company wants</font><font style="display:inline;color:#000000;"> to offer more than $</font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">19,000,000</font><font style="display:inline;color:#000000;"> in shares of </font><font style="display:inline;color:#000000;">its</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">C</font><font style="display:inline;color:#000000;">ommon </font><font style="display:inline;color:#000000;">S</font><font style="display:inline;color:#000000;">tock</font><font style="display:inline;color:#000000;"> pursuant to the Agreement</font><font style="display:inline;color:#000000;">.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">Cowen may sell the Common Stock by any method permitted by law deemed to be an &#x201C;at the market&#x201D; offering as defined in Rule 415 of the Securities Act of 1933, as amended, including without limitation sales made by means of ordinary brokers&#x2019; transactions on The NASDAQ Global Market or otherwise at market prices prevailing at the time of sale, in block transactions, or as otherwise directed by the Company. Cowen will use commercially reasonable efforts to sell the Common Stock from time to time, based upon instructions from the Company (including any price, time or size limits or other customary parameters or conditions the Company may impose). The Company will pay Cowen a commission </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">equal to </font><font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">three percent of the gross sales proceeds of any Common Stock sold through Cowen under the Agreement, and also has provided Cowen with customary indemnification rights.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The Company is not obligated to make any sales of Common Stock under the Agreement. The offering of shares of Common Stock pursuant to the Agreement will terminate upon the earlier of (i) the sale of all Common Stock subject to the Agreement or (ii) termination of the Agreement in accordance with its terms.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">The foregoing description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement, a copy of which is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;">This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the securities discussed herein, nor shall there be any offer, solicitation, or sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 10pt;">
			<font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">Item&nbsp;9.01.</font><font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">&nbsp;</font><font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;text-decoration:underline;">Financial Statements and Exhibits</font><font style="display:inline;font-weight:bold;color:#000000;font-size:10pt;">.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 14.4pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">(d)</font><font style="display:inline;font-family:Times New Roman,Times,serif;;font-size: 10pt;font-family:Tms Rmn;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;font-family:Times New Roman,Times,serif;"></font><font style="display:inline;font-family:Times New Roman,Times,serif;text-decoration:underline;">Exhibits</font>
		</p>
		<p style="margin:0pt 0pt 0pt 14.4pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:67.50pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">Number</font></p>
				</td>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">&nbsp;&nbsp;&nbsp;&nbsp;</font></p>
				</td>
				<td valign="bottom" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:368.30pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:67.50pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">5.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:368.30pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Opinion of Cooley LLP</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:67.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:368.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:67.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">10.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:368.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;color:#000000;background-color: #FFFFFF;">Sales Agreement, dated March 1, 2016, by and between GlycoMimetics, Inc. and Cowen and Company, LLC</font><font style="display:inline;font-family:Times New Roman,Times,serif;">.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:67.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:368.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:67.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">23.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:09.00pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:368.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Consent of Cooley LLP (included in Exhibit 5.1)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="font-family:Times New Roman,Times,serif;font-weight:bold;border-bottom-style:solid;border-bottom-width:1pt;height:100%;text-indent:0pt;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;"><font style="font-family:Times New Roman,Times,serif;font-weight:bold;border-bottom-style:solid;border-bottom-width:1pt;height:100%;text-indent:0pt;">SIGNATURES</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:238.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:13.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:233.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">GLYCOMIMETICS, INC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:238.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:13.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:233.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:238.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Date: March 1, 2016</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:13.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:18.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:215.30pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">/s/ Brian M. Hahn</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:238.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:13.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:18.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:215.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Bri</font><font style="display:inline;font-family:Times New Roman,Times,serif;">a</font><font style="display:inline;font-family:Times New Roman,Times,serif;">n M. Hahn</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:238.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:13.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:18.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
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					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Chief Financial Officer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;"></font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;"><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">EXHIBIT</font><font style="display:inline;font-family:Times New Roman,Times,serif;">&nbsp;</font><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;">INDEX</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:85.50pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">Exhibit</font><br /><font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">Number</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:359.30pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 8pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;font-weight:bold;font-size:8pt;">Description</font></p>
				</td>
			</tr>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:85.50pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">5.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:359.30pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">Opinion of Cooley LLP</font></p>
				</td>
			</tr>
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					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:359.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:85.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">10.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;color:#000000;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:359.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;color:#000000;background-color: #FFFFFF;">Sales Agreement, dated March 1, 2016, by and between GlycoMimetics, Inc. and Cowen and Company, LLC</font><font style="display:inline;font-family:Times New Roman,Times,serif;">.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:85.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:359.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:85.50pt;padding:0pt;">
					<p style="margin:0pt 0pt 0pt 7.2pt;text-indent: -7.2pt;text-align:center;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">23.1</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:40.50pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:359.30pt;padding:0pt;">
					<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
						<font style="display:inline;font-family:Times New Roman,Times,serif;">Consent of Cooley LLP (included in Exhibit 5.1)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Tms Rmn;font-size: 10pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>glyc-20160301ex51cbf130f.htm
<DESCRIPTION>EX-5.1
<TEXT>
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			glyc_Ex5_1
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		<p style="margin:0pt;text-align:right;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<a name="_GoBack"></a><font style="display:inline;font-weight:bold;">Exhibit 5.1</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"><img src="glyc20160301ex51cbf130f001.jpg" style="width: 1.739583in; height: 0.59375in" alt="Picture 1"></font>
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			<font style="display:inline;font-size:10pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">Brian F. Leaf</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">T: +1 703 456 8053</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 8pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:8pt;">bleaf@cooley.com</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;border-bottom:1pt none #D9D9D9 ;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<font style="display:inline;">March 1</font><font style="display:inline;">, 2016</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;border-top:1pt none #D9D9D9 ;font-family:Arial,Helvetica,sans-serif;font-size: 11pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">GlycoMimetics, Inc.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">9708 Medical Center Drive</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">Rockville, MD 20850</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-indent:0pt;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 7.2pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<a name="_DV_M6"></a><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">Ladies and Gentlemen:</font><a name="_DV_M7"></a>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">We have acted as counsel to </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">GlycoMimetics, Inc.</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">, a Delaware corporation (the &#x201C;Company&#x201D;), in connection with the sale of shares of its common stock, par value </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">$0.001</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;"> per share, having an aggregate offering price of up to $</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">19</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">,000,000 (the &#x201C;Shares&#x201D;) pursuant to the Registration Statement on Form&nbsp;S-3 (File No.&nbsp;333-</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">202808</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">) (the &#x201C;Registration Statement&#x201D;) and the related Prospectus and Prospectus Supplement filed with the Securities and Exchange Commission (the &#x201C;Commission&#x201D;) and that certain Sales Agreement, dated </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">March 1</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">, 2016</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">, by and between the Company and Cowen and Company, LLC (the &#x201C;Agreement&#x201D;).&nbsp;All of the Shares are to be sold by the Company as described in the Registration Statement and related Prospectus and Prospectus Supplement and the Agreement. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">In connection with this opinion, we have examined the Registration Statement and related Prospectus and Prospectus Supplement, your Certificate of Incorporation and Bylaws, each as currently in effect, and such other documents, records, certificates, memoranda and other instruments as we deem necessary as a basis for this opinion. We have assumed the genuineness and authenticity of all documents submitted to us as originals, and the conformity to originals of all documents submitted to us as copies thereof.&nbsp;As to certain factual matters, we have relied upon a certificate of an officer of the Company and have not sought independently to verify such matters. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">We have assumed </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">(i) that no more than </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">4,185,022</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;"> Shares will be sold, based on a sale price of $</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">4.54</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;"> per share, representing the last reported sale price of the Company&#x2019;s common stock on the NASDAQ Global Select Market on February </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">29</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">, 2016</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">,</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;"> (ii) that no Shares will be sold that would cause the Company to not satisfy the eligibility requirements for use of Form S-3 (including Instruction I.B.6. thereof)</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">, &nbsp;</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">and </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">(iii) that the sale of the Shares will be duly authorized by the Board of Directors of the Company or a duly authorized committee thereof.&nbsp;&nbsp;With respect to our opinion as to the Shares to be issued after the date hereof, we express no opinion to the extent that, notwithstanding its current reservation of shares of Common Stock issuable under the Agreement, future issuances of securities of the Company and/or anti-dilution adjustments to outstanding securities of the Company cause the number of shares of Common Stock issuable upon conversion or exercise of outstanding securities </font>
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			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;"></font>
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			<font style="display:inline;"></font></p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">

			<font style="display:inline;font-family:Century Gothic;font-size:7pt;">RESTON TOWN CENTER, 11951 FREEDOM DRIVE, RESTON, VIRGINIA&nbsp;&nbsp;20190-5656 T: (703) 456-8000&nbsp;&nbsp;WWW.COOLEY.COM</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"><img src="glyc20160301ex51cbf130f001.jpg" style="width: 1.739583in; height: 0.59375in" alt="Picture 3"></font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">March 1,</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;"> 2016</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">Page 2</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">of the Company to equal or exceed the number of shares of Common Stock that</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;"> remain authorized but unissued.</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">Our opinion is limited to the matters stated herein and no opinion is implied or may be inferred beyond the matters expressly stated.&nbsp;Our opinion is expressed only with respect to the General Corporation Law of the State of Delaware. We express no opinion to the extent that the laws of any other jurisdiction are applicable to the subject matter hereof. We are not rendering any opinion as to compliance with any federal or state antifraud law, rule&nbsp;or regulation relating to securities, or to the sale or issuance thereof. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">On the basis of the foregoing, and in reliance thereon, we are of the opinion that the Shares, when sold and issued in accordance with the Registration Statement and related Prospectus and Prospectus Supplement, will be validly issued, fully paid, and nonassessable. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">Our opinion is based on these laws as in effect on the date hereof, and we disclaim any obligation to advise you of facts, circumstances, events or developments which hereafter may be brought to our attention and which may alter, affect or modify the opinion expressed herein. </font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;color:#000000;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">We consent to the filing of this opinion as an exhibit to the Company&#x2019;s Current Report on Form 8-K filed with the Commission on or about </font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">March 1</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">, 2016</font><font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">. &nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-size:11pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_DV_M57"></a><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;color:#000000;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 11pt;">
			<font style="display:inline;font-family:Arial,Helvetica,sans-serif;color:#000000;font-size:11pt;">Very truly yours,</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 7.2pt;color:#000000;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_DV_M58"></a><font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-weight:bold;color:#000000;">Cooley LLP</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
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					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">By:</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:34.82%;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">/s/ Brian F. Leaf</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:61.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:03.42%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-size:11pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:34.82%;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 11pt;">
						<font style="display:inline;font-family:Arial,Helvetica,sans-serif;font-size:11pt;">Brian F. Leaf</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:61.76%;padding:0pt;">
					<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;font-family:Times New Roman,Times,serif;font-size: 7pt;">

			<font style="display:inline;font-family:Century Gothic;font-size:7pt;">RESTON TOWN CENTER, 11951 FREEDOM DRIVE, RESTON, VIRGINI</font><font style="display:inline;font-family:Century Gothic;font-size:7pt;">A&nbsp;&nbsp;20190-5656 T: (703) 456-8000</font><font style="display:inline;font-family:Century Gothic;font-size:7pt;"> WWW.COOLEY.COM</font>

		</p>

</div></div><div style="margin-left:10.2941176470588%;margin-right:10.2941176470588%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>glyc-20160301ex1016467dd.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--HTML document created with Merrill Bridge  6.1.177.0-->
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<html>
	<head>
		<title>
			glyc_Ex10_1
		</title>
	</head>
	<body><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p style="margin:0pt 0pt 5pt;text-align:right;border-bottom:1pt none #D9D9D9 ;text-decoration:none;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<a name="_GoBack"></a><font style="display:inline;text-decoration:none;">Exhibit 10.1</font>
		</p>
		<p style="margin:0pt;text-align:right;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-decoration:none;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 5pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-decoration:none;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;text-decoration:none;">GLYCOMIMETICS, INC.</font>
		</p>
		<p style="margin:0pt 0pt 5pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-decoration:none;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:normal;text-decoration:none;">c</font><font style="display:inline;font-weight:normal;text-transform:none;text-decoration:none;">ommon Stock</font>
		</p>
		<p style="margin:0pt 0pt 5pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:center;text-decoration:underline;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:normal;text-transform:none;text-decoration:none;">(par value $0.001 per share)</font><br /><font style="display:inline;"></font><br /><font style="display:inline;">SALES AGREEMENT</font><br /><font style="display:inline;"></font>
		</p>
		<p style="margin:0pt 0pt 5pt;text-align:right;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-decoration:none;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:normal;text-transform:none;text-decoration:none;">March 1</font><font style="display:inline;font-weight:normal;text-transform:none;text-decoration:none;">, 2016</font>
		</p>
		<p style="margin:0pt 0pt 5pt;text-align:right;border-top:1pt none #D9D9D9 ;text-decoration:none;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Cowen and Company, LLC</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">599 Lexington Avenue</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">New York</font><font style="display:inline;">, &nbsp;</font><font style="display:inline;">NY</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">10022</font><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Ladies and Gentlemen:</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">GlycoMimetics, Inc., a Delaware corporation (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Company</font><font style="display:inline;">&#x201D;), confirms its agreement (this &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Agreement</font><font style="display:inline;">&#x201D;) with Cowen and Company, LLC (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Cowen</font><font style="display:inline;">&#x201D;), as follows:</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 1.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Issuance and </font><font style="display:inline;text-decoration:underline;">Sale</font><font style="display:inline;text-decoration:underline;color:#000000;"> of Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company agrees that, from time to time during the term of this Agreement, on the terms and subject to the conditions set forth herein, it may issue and sell through Cowen, acting as agent and/or principal, shares (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Placement Shares</font><font style="display:inline;color:#000000;">&#x201D;) of the Company&#x2019;s common stock, par value $0.001 per share (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Common Stock</font><font style="display:inline;color:#000000;">&#x201D;), having an aggregate offering price of up to $</font><font style="display:inline;text-transform:uppercase;color:#000000;">40,000,000</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Notwithstanding anything to the contrary contained herein, the parties hereto agree that compliance with the limitation set forth in this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 1</font><font style="display:inline;color:#000000;"> on the number of shares of Common Stock issued and sold under this Agreement shall be the sole responsibility of the Company, and Cowen shall have no obligation in connection with such compliance.&nbsp;&nbsp;The issuance and sale of Common Stock through Cowen will be effected pursuant to the Registration Statement (as defined below) filed by the Company and declared effective by the Securities and Exchange Commission (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Commission</font><font style="display:inline;color:#000000;">&#x201D;), although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement (as defined below) to issue the Common Stock.&nbsp; </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The Company has filed, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder (collectively, the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Securities Act</font><font style="display:inline;">&#x201D;), with the Commission a registration statement on Form S-3 (File No. 333-202808), including a base prospectus, relating to certain securities, including the Common Stock, to be issued from time to time by the Company, and which incorporates by reference documents that the Company has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder (collectively, the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Exchange Act</font><font style="display:inline;">&#x201D;). The Company has prepared a prospectus supplement specifically relating to the Placement Shares (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Prospectus Supplement</font><font style="display:inline;">&#x201D;) to the base prospectus included as part of such registration statement.&nbsp;&nbsp;The Company has furnished to Cowen, for use by Cowen, copies of the prospectus included as part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Placement Shares.&nbsp;&nbsp;Except where the context otherwise requires, such registration statement, as amended when it became effective, including all documents filed as part thereof or incorporated by reference therein, and including any information contained in a Prospectus (as defined below) subsequently filed with the Commission pursuant to Rule 424(b) under the Securities Act or deemed to be a part of such registration statement pursuant to Rule 430B or 462(b) of the Securities Act, is herein called the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Registration Statement</font><font style="display:inline;">.&#x201D;&nbsp;&nbsp;The base prospectus, including all documents incorporated therein by reference, included in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in </font><font style="display:inline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:left;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">the form in which such prospectus and/or Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule 424(b) under the Securities Act, together with any &#x201C;issuer free writing prospectus,&#x201D; as defined in Rule 433 of the Securities Act regulations (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Rule 433</font><font style="display:inline;">&#x201D;), relating to the Placement Shares that (i) is required to be filed with the Commission by the Company or (ii) is exempt from filing pursuant to Rule 433(d)(5)(i), in each case in the form filed or required to be filed with the Commission or, if not required to be filed, in the form retained in the Company&#x2019;s records pursuant to Rule 433(g), is herein called the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Prospectus</font><font style="display:inline;">.&#x201D; Any reference herein to the Registration Statement, the Prospectus or any amendment or supplement thereto shall be deemed to refer to and include the documents incorporated by reference therein, and any reference herein to the terms &#x201C;amend,&#x201D; &#x201C;amendment&#x201D; or &#x201C;supplement&#x201D; with respect to the Registration Statement or the Prospectus shall be deemed to refer to and include the filing after the execution hereof of any document with the Commission deemed to be incorporated by reference therein. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment or supplement thereto shall be deemed to include any copy filed with the Commission pursuant via the Electronic Data Gathering Analysis and Retrieval System (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">EDGAR</font><font style="display:inline;">&#x201D;).</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 2.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Placements</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Each time that the Company wishes to issue and sell the Placement Shares hereunder (each, a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Placement</font><font style="display:inline;color:#000000;">&#x201D;), it will notify Cowen by email notice (or other method mutually agreed to in writing by the parties) (a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Placement Notice</font><font style="display:inline;color:#000000;">&#x201D;) containing the parameters in accordance with which it desires the Placement Shares to be sold, which shall at a minimum include the number of Placement Shares to be issued, the time period during which sales are requested to be made, any limitation on the number of Placement Shares that may be sold in any one Trading Day (as defined in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 3</font><font style="display:inline;color:#000000;">) and any minimum price below which sales may not be made, a form of which containing such minimum sales parameters necessary is attached hereto as </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 1</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Placement Notice shall originate from any of the individuals from the Company set forth on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">(with a copy to each of the other individuals from the Company listed on such schedule), and shall be addressed to each of the individuals from Cowen set forth on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;">, as such </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;"> may be amended from time to time. The Placement Notice shall be effective upon receipt by Cowen unless and until (i) in accordance with the notice requirements set forth in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 4</font><font style="display:inline;color:#000000;">, Cowen declines to accept the terms contained therein for any reason, in its sole discretion, (ii) the entire amount of the Placement Shares have been sold, (iii) in accordance with the notice requirements set forth in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 4</font><font style="display:inline;color:#000000;">, the Company suspends or terminates the Placement Notice for any reason, in its sole discretion, (iv) the Company issues a subsequent Placement Notice with parameters superseding those on the earlier dated Placement Notice, or (v) this Agreement has been terminated under the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 11</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;&nbsp;The amount of any discount, commission or other compensation to be paid by the Company to Cowen in connection with the sale of the Placement Shares shall be calculated in accordance with the terms set forth in </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 3</font><font style="display:inline;font-weight:bold;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp;It is expressly acknowledged and agreed that neither the Company nor Cowen will have any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement Notice to Cowen and Cowen does not decline such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein.&nbsp;&nbsp;In the event of a conflict between the terms of this Agreement and the terms of a Placement Notice, the terms of the Placement Notice will control.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 3.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Sale of Placement Shares by Cowen.</font><font style="display:inline;color:#000000;"> &nbsp;Subject to the terms and conditions herein set forth, upon the Company&#x2019;s delivery of a Placement Notice, and unless the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the terms of this Agreement, Cowen, for the period specified in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and applicable state and federal laws, rules and regulations and the rules of the Nasdaq Stock Market LLC (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Nasdaq</font><font style="display:inline;color:#000000;">&#x201D;) to sell such Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice.&nbsp;&nbsp;Cowen will provide written confirmation to the Company (including by email correspondence to each of the individuals of the Company set forth on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;">, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) no later than the opening of the Trading Day (as defined below) immediately following the Trading </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">2</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares sold on such day, the volume-weighted average price of the Placement Shares, and the Net Proceeds (as defined below) payable to the Company.&nbsp;&nbsp;Cowen may sell Placement Shares by any method permitted by law deemed to be an &#x201C;at the market&#x201D; offering as defined in Rule 415 of the Securities Act, including without limitation sales made through Nasdaq, on any other existing trading market for the Common Stock or to or through a market maker.&nbsp;&nbsp;If expressly authorized by the Company in a Placement Notice, Cowen may also sell Placement Shares in negotiated transactions.&nbsp;&nbsp;Notwithstanding the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 6(jj)</font><font style="display:inline;color:#000000;">, Cowen shall not purchase Placement Shares for its own account as principal unless expressly authorized to do so by the Company in a Placement Notice.&nbsp;&nbsp;The Company acknowledges and agrees that (i) there can be no assurance that Cowen will be successful in selling Placement Shares, and (ii) Cowen will incur no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other than a failure by Cowen to use its commercially reasonable efforts consistent with its normal trading and sales practices to sell such Placement Shares as required under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 3</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;&nbsp;For the purposes hereof, &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Trading Day</font><font style="display:inline;color:#000000;">&#x201D; means any day on which the Company&#x2019;s Common Stock is purchased and sold on Nasdaq.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 4.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Suspension of Sales</font><font style="display:inline;color:#000000;">.&nbsp; </font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;"><font style="display:inline;color:#000000;">(a)</font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display:inline;color:#000000;">The Company or Cowen may, upon notice to the other party in writing (including by email correspondence to each of the individuals of the other party set forth on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;">, if receipt of such correspondence is actually acknowledged by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable facsimile transmission or email correspondence to each of the individuals of the other party set forth on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;">), suspend any sale of Placement Shares; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that such suspension shall not affect or impair either party&#x2019;s obligations with respect to any Placement Shares sold hereunder prior to the receipt of such notice.&nbsp;&nbsp;Each of the parties agrees that no such notice under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 4</font><font style="display:inline;color:#000000;"> shall be effective against the other unless it is made to one of the individuals named on </font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Schedule 2</font><font style="display:inline;color:#000000;"> hereto, as such schedule may be amended from time to time.</font></font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">(b)</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">Notwithstanding any other provision of this Agreement, during any period in which the Company is in possession of material non-public information, the Company and Cowen agree that (i) no sale of Placement Shares will take place, (ii) the Company shall not request the sale of any Placement Shares, and (iii) Cowen shall not be obligated to sell or offer to sell any Placement Shares.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">(c)</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">If either Cowen or the Company has reason to believe that the exemptive provisions set forth in Rule 101(c)(1) of Regulation M under the Exchange Act are not satisfied with respect to the Common Stock, it shall promptly notify the other party, and Cowen may, at its sole discretion, suspend sales of the Placement Shares under this Agreement. </font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 5.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Settlement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Settlement of Placement Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Shares will occur on the third (3</font><font style="display:inline;color:#000000;font-size:6pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display:inline;color:#000000;">) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Settlement Date</font><font style="display:inline;color:#000000;">&#x201D; and the first such settlement date, the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">First Delivery Date</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp;&nbsp;The amount of proceeds to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Net Proceeds</font><font style="display:inline;color:#000000;">&#x201D;) will be equal to the aggregate sales price received by Cowen at which such Placement Shares were sold, after deduction for (i)&nbsp;Cowen&#x2019;s commission, discount or other compensation for such sales payable by the Company pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 2</font><font style="display:inline;color:#000000;"> hereof, (ii) any other amounts due and payable by the Company to Cowen hereunder pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;"> hereof, and (iii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.&nbsp;&nbsp; </font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">3</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Delivery of Placement Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically transfer the Placement Shares being sold by crediting Cowen&#x2019;s or its designee&#x2019;s account (provided Cowen shall have given the Company written notice of such designee at least one Trading Day prior to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradeable, transferable, registered shares in good deliverable form.&nbsp;&nbsp;On each Settlement Date, Cowen will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement Date.&nbsp;&nbsp;The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver duly authorized Placement Shares on a Settlement Date, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(a)</font><font style="display:inline;color:#000000;"> hereto, it will (i)&nbsp;hold Cowen harmless against any loss, claim, damage, or reasonable and documented expense (including reasonable and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Company and (ii) pay to Cowen (without duplication) any commission, discount, or other compensation to which it would otherwise have been entitled absent such default.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 6.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Representations and Warranties of the Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as disclosed in the Registration Statement, the Prospectus or any Prospectus Supplement, the Company represents and warrants to, and agrees with, Cowen that as of the date of this Agreement, each Representation Date (as defined in Section 7(m)), each date on which a Placement Notice is given, and any date on which Placement Shares are sold hereunder: </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Compliance with Registration Requirements</font><font style="display:inline;color:#000000;">. The Registration Statement and any Rule&nbsp;462(b) Registration Statement have been declared effective by the Commission under the Securities Act.&nbsp;&nbsp;The Company has complied to the Commission&#x2019;s satisfaction with all requests of the Commission for additional or supplemental information.&nbsp;&nbsp;No stop order suspending the effectiveness of the Registration Statement or any Rule&nbsp;462(b) Registration Statement is in effect and no proceedings for such purpose have been instituted or are pending or, to the best knowledge of the Company, contemplated or threatened by the Commission.&nbsp; </font><font style="display:inline;color:#000000;">The Company meets the requirements for use of Form S</font><font style="display:inline;color:#000000;">&#8209;3 under the Securities Act.&nbsp;&nbsp;As of the date hereof, the sale of the Placement Shares hereunder meets the requirements of General Instruction I.B.6 of Form S-3.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Misstatement or Omission</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Prospectus when filed complied and, as amended or supplemented, if applicable, will comply in all material respects with the Securities Act.&nbsp;&nbsp;Each of the Registration Statement, any Rule&nbsp;462(b) Registration Statement, the Prospectus and any post-effective amendments or supplements thereto, at the time it became effective or its date, as applicable, complied, and as of each of the Settlement Dates, if any, complied in all material respects with the Securities Act and did not and, as of each Settlement Date, if any, did not and will not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. The Prospectus, as amended or supplemented, as of its date, did not and, as of each of the Settlement Dates, if any, will not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The representations and warranties set forth in the two immediately preceding sentences do not apply to statements in or omissions from the Registration Statement, any Rule&nbsp;462(b) Registration Statement, or any post-effective amendment thereto, or the Prospectus, or any amendments or supplements thereto, made in reliance upon and in conformity with information relating to Cowen furnished to the Company in writing by Cowen expressly for use therein.&nbsp;&nbsp;There are no contracts or other documents required to be described in the Prospectus or to be filed as exhibits to the Registration Statement which have not been described or filed as required.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Offering Materials Furnished to Cowen</font><font style="display:inline;color:#000000;">. The Company has delivered to Cowen one complete copy of the Registration Statement and a copy of each consent and certificate of experts filed as a part thereof, and </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">4</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">conformed copies of the Registration Statement (without exhibits) and the Prospectus, as amended or supplemented, in such quantities and at such places as Cowen has reasonably requested.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Not an Ineligible Issuer</font><font style="display:inline;color:#000000;">. The Company currently is not an &#x201C;ineligible issuer,&#x201D; as defined in Rule 405 of the rules and regulation of the Commission.&nbsp;&nbsp;The Company agrees to notify Cowen promptly upon the Company becoming an &#x201C;ineligible issuer.&#x201D;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(e)&#xA0;</font>
			<font style="display:inline;color:#000000;"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="display:inline;text-decoration:underline;color:#000000;">Distribution of Offering Material By the Company</font><font style="display:inline;color:#000000;">. The Company has not distributed and will not distribute, prior to the completion of Cowen&#x2019;s distribution of the Placement Shares pursuant to this Agreement, any offering material in connection with the offering and sale of the Placement Shares other than the Prospectus or the Registration Statement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(f)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">The Sales Agreement</font><font style="display:inline;color:#000000;">. This Agreement has been duly authorized, executed and delivered by, and is a valid and binding agreement of, the Company, enforceable in accordance with its terms, except as rights to indemnification hereunder may be limited by applicable law and except as the enforcement hereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(g)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Authorization of the Placement Shares</font><font style="display:inline;color:#000000;">. The Placement Shares, when issued and delivered, will be duly authorized for issuance and sale pursuant to this Agreement and, when issued and delivered by the Company against payment therefor pursuant to this Agreement, will be duly authorized, validly issued, fully paid and nonassessable.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(h)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Applicable Registration or Other Similar Rights</font><font style="display:inline;color:#000000;">. There are no persons with registration or other similar rights to have any equity or debt securities registered for sale under the Registration Statement or included in the offering contemplated by this Agreement, except for such rights as have been duly waived.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(i)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Material Adverse Change</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as otherwise disclosed in the Prospectus, subsequent to the respective dates as of which information is given in the Prospectus: (i)&nbsp;there has been no material adverse change, or any development that could reasonably be expected to result in a material adverse change, in the condition, financial or otherwise, or in the earnings, business, operations or prospects, whether or not arising from transactions in the ordinary course of business, of the Company (any such change is called a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Material Adverse Change</font><font style="display:inline;color:#000000;">&#x201D;); (ii)&nbsp;the Company has not incurred any material liability or obligation, indirect, direct or contingent, not in the ordinary course of business nor entered into any material transaction or agreement not in the ordinary course of business; and (iii)&nbsp;there has been no dividend or distribution of any kind declared, paid or made by the Company.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(j)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Independent Accountants</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Ernst &amp; Young LLP, who has expressed its opinion with respect to the financial statements (which term as used in this Agreement includes the related notes thereto) filed with the Commission or incorporated by reference as a part of the Registration Statement and included in the Prospectus, is an independent registered public accounting firm as required by the Securities Act and the Exchange Act.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(k)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Preparation of the Financial Statements</font><font style="display:inline;color:#000000;">. The financial statements filed with the Commission as a part of or incorporated by reference in the Registration Statement and included in the Prospectus present fairly, in all material respects, the financial position of the Company as of and at the dates indicated and the results of their operations and cash flows for the periods specified.&nbsp;&nbsp;Such financial statements have been prepared in accordance with generally accepted accounting principles as applied in the United States applied on a consistent basis throughout the periods involved, except as may be expressly stated in the related notes thereto.&nbsp;&nbsp;No other financial statements or supporting schedules are required to be included in or incorporated in the Registration Statement.&nbsp;&nbsp;The financial data set forth or incorporated in the Prospectus under the captions </font><a name="toc890229_5"></a><font style="display:inline;color:#000000;">&#x201C;Ratio of Earnings to </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">5</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">Combined Fixed Charges and Preferred Stock Dividends&#x201D; and &#x201C;Selected Financial Data&#x201D; fairly present, in all material respects, the information set forth therein on a basis consistent with that of the audited financial statements contained, incorporated or deemed to be incorporated in the Registration Statement.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(l)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">XBRL</font><font style="display:inline;color:#000000;">. The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the each Registration Statement fairly presents the information called for in all material respects and has been prepared in accordance with the Commission&#x2019;s rules and guidelines applicable thereto.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(m)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Incorporation and Good Standing of the Company</font><font style="display:inline;color:#000000;">. The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware and has corporate power and authority to own, lease and operate its properties and to conduct its business as described in the Prospectus and to enter into and perform its obligations under this Agreement. The Company is duly qualified as a foreign corporation to transact business and is in good standing in the State of Maryland and each other jurisdiction in which such qualification is required, whether by reason of the ownership or leasing of property or the conduct of business, except for such jurisdictions (other than the State of Maryland) where the failure to so qualify or to be in good standing would not, individually or in the aggregate, result in a Material Adverse Change.&nbsp;&nbsp;The Company does not own or control, directly or indirectly, any corporation, association or other entity.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(n)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Capital Stock Matters</font><font style="display:inline;color:#000000;">. The Common Stock conforms in all material respects to the description thereof contained in the Prospectus.&nbsp;&nbsp;All of the issued and outstanding shares of Common Stock have been duly authorized and validly issued, are fully paid and nonassessable and have been issued in compliance with federal and state securities laws.&nbsp;&nbsp;None of the outstanding shares of Common Stock were issued in violation of any preemptive rights, rights of first refusal or other similar rights to subscribe for or purchase securities of the Company.&nbsp;&nbsp;There are no authorized or outstanding options, warrants, preemptive rights, rights of first refusal or other rights to purchase, or equity or debt securities convertible into or exchangeable or exercisable for, any capital stock of the Company other than those accurately described in all material respects in the Prospectus.&nbsp;&nbsp;The description of the Company&#x2019;s stock option, stock bonus and other stock plans or arrangements, and the options or other rights granted thereunder, set forth in the Prospectus accurately and fairly presents in all material respects the information required to be shown with respect to such plans, arrangements, options and rights.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(o)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;&nbsp;The Company is not in violation of its charter or by-laws or is in default (or, with the giving of notice or lapse of time, would be in default) (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Default</font><font style="display:inline;color:#000000;">&#x201D;) under any indenture, mortgage, loan or credit agreement, note, contract, franchise, lease or other instrument to which the Company is a party or by which it may be bound, or to which any of the property or assets of the Company is subject (each, an &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Existing Instrument</font><font style="display:inline;color:#000000;">&#x201D;), except for such Defaults as would not, individually or in the aggregate, result in a Material Adverse Change.&nbsp;&nbsp;The Company&#x2019;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Prospectus (i)&nbsp;have been duly authorized by all necessary corporate action and will not result in any violation of the provisions of the charter or by-laws of the Company, (ii)&nbsp;will not conflict with or constitute a breach of, or Default under, or result in the creation or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to, or require the consent of any other party to, any Existing Instrument, except for such conflicts, breaches, Defaults, liens, charges or encumbrances as would not, individually or in the aggregate, result in a Material Adverse Change, and (iii)&nbsp;will not result in any violation of any law, administrative regulation or administrative or court decree applicable to the Company.&nbsp;&nbsp;No consent, approval, authorization or other order of, or registration or filing with, any court or other governmental or regulatory authority or agency, is required for the Company&#x2019;s execution, delivery and performance of this Agreement and consummation of the transactions contemplated hereby and by the Prospectus, except such as have been obtained or made by the Company and are in full force and effect under the Securities Act, applicable state securities or blue sky laws and from the Financial Industry Regulatory Authority (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">FINRA</font><font style="display:inline;color:#000000;">&#x201D;).&nbsp; </font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">6</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(p)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Material Actions or Proceedings</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as disclosed in the Prospectus, there are no legal or governmental actions, suits or proceedings pending or, to the best of the Company&#x2019;s knowledge, threatened (i)&nbsp;against or affecting the Company, (ii)&nbsp;which has as the subject thereof any officer or director of, or property owned or leased by, the Company or (iii)&nbsp;relating to environmental or discrimination matters, where in any such case (A)&nbsp;there is a reasonable possibility that such action, suit or proceeding might be determined adversely to the Company and (B)&nbsp;any such action, suit or proceeding, if so determined adversely, would reasonably be expected to result in a Material Adverse Change or adversely affect the consummation of the transactions contemplated by this Agreement.&nbsp;&nbsp;No material labor dispute with the employees of the Company exists or, to the Company&#x2019;s knowledge, is threatened or imminent.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(q)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">All Necessary Permits, etc</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company possesses such valid and current certificates, authorizations or permits issued by the appropriate state, federal or foreign regulatory agencies or bodies </font><font style="display:inline;color:#000000;">(including, without limitation, those administered by the U.S. Food and Drug Administration (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">FDA</font><font style="display:inline;color:#000000;">&#x201D;) or by any foreign, federal, state or local governmental or regulatory authority performing functions similar to those performed by the FDA) </font><font style="display:inline;color:#000000;">necessary to conduct its business, other than those the failure to possess or own would not result in a Material Adverse Change, and the Company has not received any notice of proceedings relating to the revocation or modification of, or non-compliance with, any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, could result in a Material Adverse Change.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(r)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Tax Law Compliance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has filed all necessary federal, state and foreign income, property and franchise tax returns (or has properly requested extensions thereof) and has paid all taxes required to be paid by it and, if due and payable, any related or similar assessment, fine or penalty levied against it except as may be being contested in good faith and by appropriate proceedings.&nbsp;&nbsp;The Company has made adequate charges, accruals and reserves in the applicable financial statements referred to in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 6(k)</font><font style="display:inline;color:#000000;"> above in respect of all federal, state and foreign income, property and franchise taxes for all periods as to which the tax liability of the Company has not been finally determined.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(s)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Company Not an &#x201C;Investment Company.</font><font style="display:inline;color:#000000;">&#x201D; The Company is not, and after receipt of payment for the Common Stock will not be, an &#x201C;investment company&#x201D; within the meaning of Investment Company Act of 1940, as amended. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(t)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Insurance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as otherwise described in the Prospectus, the Company is insured by insurers of recognized financial responsibility with policies in such amounts and with such deductibles and covering such risks as are generally deemed prudent and customary for the business for which it is engaged.&nbsp;&nbsp;The Company has no reason to believe that it will not be able (i)&nbsp;to renew its existing insurance coverage as and when such policies expire or (ii)&nbsp;to obtain comparable coverage from similar institutions as may be necessary or appropriate to conduct its business as now conducted and at a cost that would not result in a Material Adverse Change.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(u)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Price Stabilization or Manipulation</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has not taken and will not take, directly or indirectly, any action designed to or that might be reasonably expected to cause or result in stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(v)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Related Party Transactions</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;There are no business relationships or related-party transactions involving the Company or any other person required to be described in the Prospectus which have not been described as required.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(w)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Exchange Act Compliance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The documents incorporated or deemed to be incorporated by reference in the Prospectus, at the time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange Act, and, when read together with the other </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">7</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">information in the Prospectus, at the Settlement Dates, will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(x)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Unlawful Contributions or Other Payments</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Neither the Company nor, to the best of the Company&#x2019;s knowledge, any director, officer, employee or agent of the Company has (i) used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment.&nbsp;&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(y)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Compliance with Money Laundering Laws</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The operations of the Company are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Money Laundering Laws</font><font style="display:inline;color:#000000;">&#x201D;) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, the knowledge of the Company, threatened.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(z)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Compliance with OFAC</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Neither the Company nor, to the knowledge of the Company, any director, officer, agent, employee or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">OFAC</font><font style="display:inline;color:#000000;">&#x201D;); and the Company will not, directly or indirectly, use the proceeds of the offering of the Placement Shares hereunder, or lend, contribute or otherwise make available such proceeds to any joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(aa)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Company&#x2019;s Accounting System</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company maintains a system of &#x201C;internal control over financial reporting&#x201D; (as such term is defined in Rule 13a-15(f) of the General Rules and Regulations under the Exchange Act (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Exchange Act Rules</font><font style="display:inline;color:#000000;">&#x201D;)) that complies with the requirements of the Exchange Act and has been designed by their respective principal executive and principal financial officers, or under their supervision, to provide reasonable assurances that (i) transactions are executed in accordance with management&#x2019;s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with U.S. GAAP and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management&#x2019;s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.&nbsp;&nbsp;The Company&#x2019;s system of internal control over financial reporting is effective in all material respects to perform the functions for which it was established.&nbsp;&nbsp;Except as described in the Prospectus, since the end of the Company&#x2019;s most recent audited fiscal year, there has been (A) no material weakness in the Company&#x2019;s internal control over financial reporting (whether or not remediated) and (B) no change in the Company&#x2019;s internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the Company&#x2019;s internal control over financial reporting.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(bb)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Disclosure Controls</font><font style="display:inline;color:#000000;">. The Company maintains disclosure controls and procedures (as such is defined in Rule 13a-15(e) of the Exchange Act Rules) that comply with the requirements of the Exchange Act; such disclosure controls and procedures have been designed to ensure that information required to be disclosed by the Company in reports that it files or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Commission&#x2019;s rules and forms, including controls and procedures </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">8</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">designed to ensure that such information is accumulated and communicated to the Company&#x2019;s management to allow timely decisions regarding disclosures.&nbsp;&nbsp;The Company has conducted evaluations of the effectiveness of their disclosure controls as required by Rule 13a-15 of the Exchange Act.&nbsp;&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(cc)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Regulatory Matters</font><font style="display:inline;color:#000000;">. &nbsp;</font><font style="display:inline;color:#000000;">The studies, tests and preclinical or clinical trials conducted by or on behalf of the Company that are described in the Prospectus (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Company Studies and Trials</font><font style="display:inline;color:#000000;">&#x201D;) were and, if still pending, are being, conducted in all material respects in accordance with experimental protocols, procedures and controls pursuant to, where applicable, accepted professional scientific standards; the descriptions of the results of the Company Studies and Trials contained in the Prospectus are accurate in all material respects; the Company has no knowledge of any other studies or trials not described in the Prospectus, the results of which are inconsistent with or call into question the results described or referred to in the Prospectus; and the Company has not received any notices or correspondence with the FDA or any foreign, state or local governmental body exercising comparable authority requiring the termination, suspension or material modification of any</font><font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;color:#000000;">Company Studies or Trials that termination, suspension or material modification would reasonably be expected to have a Material Adverse Change and, to the Company&#x2019;s knowledge, there are no reasonable grounds for the same. The Company has obtained informed consent by or on behalf of each human subject who participated in the Company Studies and Trials. In using or disclosing patient information received by the Company in connection with the Company Studies and Trials, the Company has complied in all material respects with all applicable laws and regulatory rules or requirements, including, without limitation, the Health Insurance Portability and Accountability Act of 1996 and the rules and regulations thereunder. To the Company&#x2019;s knowledge, none of the Company Studies and Trials involved any investigator who has been disqualified as a clinical investigator or has been found by the FDA to have engaged in scientific misconduct. To the Company&#x2019;s knowledge, the manufacturing facilities and operations of its suppliers are operated in compliance in all material respects with all applicable statutes, rules, regulations and policies of the FDA and comparable regulatory agencies outside of the United States to which the Company is subject, to the extent such parties are subject to the statures, rules regulation and policies of the FDA or comparable regulatory agency outside of the United States.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(dd)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Compliance with Environmental Laws</font><font style="display:inline;color:#000000;">. Except as otherwise described in the Prospectus, and except as would not, individually or in the aggregate, result in a Material Adverse Change (i)&nbsp;the Company is not in violation of any federal, state, local or foreign law or regulation relating to pollution or protection of human health or the environment (including, without limitation, ambient air, surface water, groundwater, land surface or subsurface strata) or wildlife, including without limitation, laws and regulations relating to emissions, discharges, releases or threatened releases of chemicals, pollutants, contaminants, wastes, toxic substances, hazardous substances, petroleum and petroleum products (collectively, &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Materials of Environmental Concern</font><font style="display:inline;color:#000000;">&#x201D;), or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling of Materials of Environmental Concern (collectively, &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Environmental Laws</font><font style="display:inline;color:#000000;">&#x201D;), which violation includes, but is not limited to, noncompliance with any permits or other governmental authorizations required for the operation of the business of the Company under applicable Environmental Laws, or noncompliance with the terms and conditions thereof, nor has the Company received any written communication, whether from a governmental authority, citizens group, employee or otherwise, that alleges that the Company is in violation of any Environmental Law; (ii)&nbsp;there is no claim, action or cause of action filed with a court or governmental authority, no investigation with respect to which the Company has received written notice, and no written notice by any person or entity alleging potential liability for investigatory costs, cleanup costs, governmental responses costs, natural resources damages, property damages, personal injuries, attorneys&#x2019; fees or penalties arising out of, based on or resulting from the presence, or release into the environment, of any Material of Environmental Concern at any location owned, leased or operated by the Company, now or in the past (collectively, &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Environmental Claims</font><font style="display:inline;color:#000000;">&#x201D;), pending or, to the Company&#x2019;s knowledge, threatened against the Company or any person or entity whose liability for any Environmental Claim the Company has retained or assumed either contractually or by operation of law; and (iii)&nbsp;to the best of the Company&#x2019;s knowledge, there are no past or present </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">9</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">actions, activities, circumstances, conditions, events or incidents, including, without limitation, the release, emission, discharge, presence or disposal of any Material of Environmental Concern, that reasonably could result in a violation of any Environmental Law or form the basis of a potential Environmental Claim against the Company or against any person or entity whose liability for any Environmental Claim the Company has retained or assumed either contractually or by operation of law.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(ee)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Intellectual Property</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company owns or possesses the valid right to use all (i) patents, patent applications, trademarks, trademark registrations, service marks, service mark registrations, Internet domain name registrations, copyrights, copyright registrations, licenses, trade secret rights (&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Intellectual Property Rights</font><font style="display:inline;color:#000000;">&#x201D;) and (ii) inventions, software, works of authorships, trade marks, service marks, trade names, databases, formulae, know how, Internet domain names and other intellectual property (including trade secrets and other unpatented and/or unpatentable proprietary confidential information, systems, or procedures) (collectively, &#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Intellectual Property Assets</font><font style="display:inline;color:#000000;">&#x201D;) necessary to conduct its business as currently conducted, and as proposed to be conducted and described in the Prospectus.&nbsp;&nbsp;The Company has not received any opinion from their legal counsel concluding that any activities of its business infringes, misappropriates, or otherwise violates, valid and enforceable Intellectual Property Rights of any other person, and have not received written notice of any challenge, which is to its knowledge still pending, by any other person to the rights of the Company with respect to any Intellectual Property Rights or Intellectual Property Assets owned or used by the Company.&nbsp;&nbsp;To the knowledge of the Company, the Company&#x2019;s&nbsp;&nbsp;business as now conducted does not give rise to any infringement of, any misappropriation of, or other violation of, any valid and enforceable Intellectual Property Rights of any other person.&nbsp;&nbsp;All licenses for the use of the Intellectual Property Rights described in the Prospectus are valid, binding upon, and enforceable by or against the parties thereto in accordance to its terms.&nbsp;&nbsp;The Company has complied in all material respects with, and is not in breach nor has received any asserted or threatened claim of breach of any Intellectual Property license, and the Company has no knowledge of any breach or anticipated breach by any other person to any Intellectual Property license.&nbsp;&nbsp;Except as described in the Prospectus, no claim has been made against the Company alleging the infringement by the Company of any patent, trademark, service mark, trade name, copyright, trade secret, license in or other intellectual property right or franchise right of any person.&nbsp;&nbsp;The Company has taken all reasonable steps to protect, maintain and safeguard its Intellectual Property Rights, including the execution of appropriate nondisclosure and confidentiality agreements.&nbsp;&nbsp;The consummation of the transactions contemplated by this Agreement will not result in the loss or impairment of or payment of any additional amounts with respect to, nor require the consent of any other person in respect of, the Company's right to own, use, or hold for use any of the Intellectual Property Rights as owned, used or held for use in the conduct of the business as currently conducted.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(ff)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Listing</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company is subject to and in compliance in all material respects with the reporting requirements of Section 13 or Section 15(d) of the Exchange Act.&nbsp;&nbsp;The shares of Common Stock are registered pursuant to Section 12(b) of the Exchange Act and are listed on the Nasdaq, and the Company has taken no action designed to, or reasonably likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from Nasdaq, nor has the Company received any notification that the Commission or Nasdaq is contemplating terminating such registration or listing.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(gg)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Brokers</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except for Cowen, there is no broker, finder or other party that is entitled to receive from the Company any brokerage or finder&#x2019;s fee or other fee or commission as a result of any transactions contemplated by this Agreement.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(hh)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Outstanding Loans or Other Indebtedness</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as described in the Prospectus, there are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees or indebtedness by the Company to or for the benefit of any of the officers or directors of the Company or any of the immediate family members of any of them.</font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">10</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(ii)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">No Reliance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has not relied upon Cowen or legal counsel for Cowen for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(jj)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Cowen Purchases</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company acknowledges and agrees that Cowen has informed the Company that Cowen may, to the extent permitted under </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;"> and the Exchange Act, purchase and sell shares of </font><font style="display:inline;color:#000000;">Common</font><font style="display:inline;color:#000000;"> Stock for its own account while this Agreement is in effect, </font><font style="display:inline;font-style:italic;color:#000000;">provided,</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;font-style:italic;color:#000000;">that</font><font style="display:inline;color:#000000;"> (i) no such purchase or sales shall take place while a Placement Notice is in effect (except to the extent Cowen may engage in sales of Placement Shares purchased or deemed purchased from the Company as a &#x201C;riskless principal&#x201D; or in a similar capacity) and (ii) the Company shall not be deemed to have authorized or consented to any such purchases or sales by Cowen.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(kk)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Compliance with Laws</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has not been advised, and has no reason to believe, that it is not conducting business in compliance with all applicable laws, rules and regulations of the jurisdictions in which it is conducting business, except where failure to be so in compliance would not reasonably be expected to result in a Material Adverse Change.</font></p></td></tr></table></div>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Any certificate signed by an officer of the Company and delivered to Cowen or to counsel for Cowen in connection with this Agreement shall be deemed to be a representation and warranty by the Company to Cowen as to the matters set forth therein.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The Company acknowledges that Cowen and, for purposes of the opinions to be delivered pursuant to </font><font style="display:inline;text-decoration:underline;">Section 7</font><font style="display:inline;"> hereof, counsel to the Company and counsel to Cowen, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(ll)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Emerging Growth Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company has been and is an &#x201C;emerging growth company,&#x201D; as defined in Section 2(a) of the Securities Act (an &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Emerging Growth Company</font><font style="display:inline;color:#000000;">&#x201D;), since the time of the initial submission of the Registration Statement to the Commission.</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;"> &nbsp; &nbsp;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 7.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Covenants of the Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company covenants and agrees with Cowen that:</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Registration Statement Amendments</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;After the date of this Agreement and during any period in which a Prospectus relating to any Placement Shares is required to be delivered by Cowen under the Securities Act (including in circumstances where such requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act), (i)&nbsp;the Company will notify Cowen promptly of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement or Prospectus or for additional information (insofar as it relates to the transactions contemplated hereby); (ii) the Company will prepare and file with the Commission, promptly upon Cowen&#x2019;s request, any amendments or supplements to the Registration Statement or Prospectus that, in Cowen&#x2019;s reasonable opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by Cowen (</font><font style="display:inline;font-style:italic;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that the failure of Cowen to make such request shall not relieve the Company of any obligation or liability hereunder, or affect Cowen&#x2019;s right to rely on the representations and warranties made by the Company in this Agreement and </font><font style="display:inline;font-style:italic;color:#000000;">provided, further,</font><font style="display:inline;color:#000000;"> that the only remedy Cowen shall have with respect to the failure to make such filing will be to cease making sales under this Agreement until such amendment or supplement is filed); (iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus, other than documents incorporated by reference, relating to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to Cowen within a reasonable period of time before the filing and Cowen has not reasonably objected thereto (</font><font style="display:inline;font-style:italic;color:#000000;">provided, however</font><font style="display:inline;color:#000000;">, that the failure of Cowen to make such objection shall not relieve the Company of any obligation or liability hereunder, or affect Cowen&#x2019;s right to rely on the representations and warranties made </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">11</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">by the Company in this Agreement and </font><font style="display:inline;font-style:italic;color:#000000;">provided, further,</font><font style="display:inline;color:#000000;"> that the only remedy Cowen shall have with respect to the failure to make such filing will be to cease making sales under this Agreement) and the Company will furnish to Cowen at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv) the Company will cause each amendment or supplement to the Prospectus, other than documents incorporated by reference, to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Notice of Commission Stop Orders</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will advise Cowen, promptly after it receives notice or obtains knowledge thereof, of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, of the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal if such a stop order should be issued.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Delivery of Prospectus; Subsequent Changes</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;During any period in which a Prospectus relating to the Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares, (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to comply with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective due dates (taking into account any extensions available under the Exchange Act) all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant to Sections 13(a), 13(c), 14, 15(d) or any other provision of or under the Exchange Act.&nbsp;&nbsp;If during such period any event occurs as a result of which the Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify Cowen to suspend the offering of Placement Shares during such period and the Company will promptly amend or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission or effect such compliance; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> that the Company may delay the filing of any amendment or supplement, if in the judgment of the Company, it is in the best interest of the Company.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Listing of Placement Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;During any period in which the Prospectus relating to the Placement Shares is required to be delivered by Cowen under the Securities Act with respect to a pending sale of the Placement Shares (including in circumstances where such requirement may be satisfied pursuant to Rule 172 under the Securities Act), the Company will use its commercially reasonable efforts to cause the Placement Shares to be listed on Nasdaq and to qualify the Placement Shares for sale under the securities laws of such jurisdictions as Cowen reasonably designates and to continue such qualifications in effect so long as required for the distribution of the Placement Shares; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> that the Company shall not be required in connection therewith to qualify as a foreign corporation or dealer in securities or file a general consent to service of process in any jurisdiction.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(e)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Delivery of Registration Statement and Prospectus</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will furnish to Cowen and its counsel (at the expense of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein) and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as reasonably practicable and in such quantities as Cowen may from time to time reasonably request and, at Cowen&#x2019;s request, </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">12</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> that the Company shall not be required to furnish any document (other than the Prospectus) to Cowen to the extent such document is available on EDGAR.&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(f)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Earnings Statement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will make generally available to its security holders as soon as practicable, but in any event not later than 15 months after the end of the Company&#x2019;s current fiscal quarter, an earnings statement covering a 12-month period that satisfies the provisions of Section 11(a) and Rule 158 of the Securities Act.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(g)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Expenses</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company, whether or not the transactions contemplated hereunder are consummated or this Agreement is terminated, in accordance with the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 11</font><font style="display:inline;color:#000000;"> hereunder, will pay the following expenses all incident to the performance of its obligations hereunder, including, but not limited to, expenses relating to (i) the preparation, printing and filing of the Registration Statement and each amendment and supplement thereto, of each Prospectus and of each amendment and supplement thereto, (ii) the preparation, issuance and delivery of the Placement Shares, (iii) the qualification of the Placement Shares under securities laws in accordance with the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(d)</font><font style="display:inline;color:#000000;"> of this Agreement, including filing fees (provided, however, that any fees or disbursements of counsel for Cowen in connection therewith shall be paid by Cowen except as set forth in (vii) below), (iv) the printing and delivery to Cowen of copies of the Prospectus and any amendments or supplements thereto, and of this Agreement, (v) the fees and expenses incurred in connection with the listing or qualification of the Placement Shares for trading on Nasdaq, (vi) the filing fees and expenses, if any, of the Commission and the filing fees and reasonable associated legal expenses of Cowen&#x2019;s outside counsel for filings with the FINRA Corporate Financing Department, such legal expense reimbursement not to exceed $12,500 and, (viii) the reasonable fees and disbursements of Cowen&#x2019;s counsel in an amount not to exceed $50,000.&nbsp;&nbsp;&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(h)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Use of Proceeds</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will use the Net Proceeds as described in the Prospectus in the section entitled &#x201C;Use of Proceeds.&#x201D;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(i)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Notice of Other Sales</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;During the pendency of any Placement Notice given hereunder, and for three trading days following the termination of any Placement Notice given hereunder, the Company shall provide Cowen notice as promptly as reasonably possible before it offers to sell, contracts to sell, sells, grants any option to sell or otherwise disposes of any shares of Common Stock (other than Placement Shares offered pursuant to the provisions of this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire Common Stock; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;">, that such notice shall not be required in connection with the (i) issuance, grant or sale of Common Stock, options or warrants to purchase shares of Common Stock, restricted shares of Common Stock, restricted stock units or other equity awards, or Common Stock issuable upon the exercise of options or other equity awards pursuant to any stock option, stock bonus or other stock plan or arrangement described in the Prospectus, (ii) the issuance of securities in connection with an acquisition, merger or sale or purchase of assets, (iii) the issuance or sale of Common Stock pursuant to any dividend reinvestment plan that the Company may adopt from time to time provided the implementation of such is disclosed to Cowen in advance, (iv) any shares of common stock issuable upon the exchange, conversion or redemption of securities or the exercise of warrants, options or other rights in effect or outstanding or </font><font style="display:inline;color:#000000;">(v) the issuance or sale of Common Stock, or securities convertible into or exercisable for Common Stock, offered and sold in a privately negotiated transaction to vendors, customers, strategic partners or potential strategic partners conducted in a manner so as not to be integrated with the offering of Common Stock hereby.&nbsp;&nbsp;Notwithstanding the foregoing provisions, nothing herein shall be construed to restrict the Company&#x2019;s ability, or require the Company to provide notice to Cowen, to file a registration statement under the Securities Act</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(j)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Change of Circumstances</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will, at any time during a fiscal quarter in which the Company intends to tender a Placement Notice or sell Placement Shares, advise Cowen promptly after it shall </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">13</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material respect any opinion, certificate, letter or other document provided to Cowen pursuant to this Agreement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(k)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Due Diligence Cooperation</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;During the term of this Agreement, the Company will cooperate with any reasonable due diligence review conducted by Cowen or its agents in connection with the transactions contemplated hereby, including, without limitation, providing information and making available documents and senior corporate officers, during regular business hours and at the Company&#x2019;s principal offices, as Cowen may reasonably request.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(l)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Required Filings Relating to Placement of Placement Shares</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company agrees that on such dates as the Securities Act shall require, the Company will (i)&nbsp;file a prospectus supplement with the Commission under the applicable paragraph of Rule 424(b) under the Securities Act (each and every filing under Rule 424(b), a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Filing Date</font><font style="display:inline;color:#000000;">&#x201D;), which prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through Cowen, the Net Proceeds to the Company and the compensation payable by the Company to Cowen with respect to such Placement Shares, and (ii) deliver such number of copies of each such prospectus supplement to each exchange or market on which such sales were effected as may be required by the rules or regulations of such exchange or market.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(m)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Representation Dates; Certificate</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On or prior to the First Delivery Date and thereafter, during the term of this Agreement, each time the Company (i) files the Prospectus relating to the Placement Shares or amends or supplements the Registration Statement or the Prospectus relating to the Placement Shares (other than a prospectus supplement filed in accordance with Section 7(l) of this Agreement) by means of a post-effective amendment, sticker, or supplement but not by means of incorporation of document(s) by reference to the Registration Statement or the Prospectus relating to the Placement Shares; (ii) files an annual report on Form 10-K under the Exchange Act; (iii) files its quarterly reports on Form 10-Q under the Exchange Act; or (iv) files a report on Form 8-K containing amended financial information (other than</font><a name="_cp_text_2_754"></a><font style="display:inline;color:#000000;"> information &#x201C;furnished&#x201D; pursuant to Items 2.02 or 7.01 of Form 8-K</font><font style="display:inline;color:#000000;">) under the Exchange Act (each date of filing of one or more of the documents referred to in clauses (i) through (iv) shall be a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Representation Date</font><font style="display:inline;color:#000000;">&#x201D;); the Company shall furnish Cowen with a certificate, in the form attached hereto as </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit 7(m)</font><font style="display:inline;color:#000000;"> within three (3) Trading Days of any Representation Date if requested by Cowen.&nbsp;&nbsp;The requirement to provide a certificate under this Section 7(m) shall be automatically waived for any Representation Date occurring at a time at which no Placement Notice is pending, which waiver shall continue until the earlier to occur of the date the Company delivers a Placement Notice hereunder (which for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;font-style:italic;color:#000000;">however</font><font style="display:inline;color:#000000;">, that such waiver shall not apply for any Representation Date on which the Company files its annual report on Form 10-K.&nbsp;&nbsp;Notwithstanding the foregoing, if the Company subsequently decides to sell Placement Shares following a Representation Date when the Company relied on such waiver and did not provide Cowen with a certificate under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(m)</font><font style="display:inline;color:#000000;">, then before the Company delivers the Placement Notice or Cowen sells any Placement Shares, the Company shall provide Cowen with a certificate, in the form attached hereto as </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit 7(m)</font><font style="display:inline;color:#000000;">, dated the date of the Placement Notice.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(n)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Legal Opinion</font><font style="display:inline;color:#000000;">.&nbsp; </font><a name="OLE_LINK12"></a><a name="OLE_LINK11"></a><font style="display:inline;color:#000000;">On or prior to the </font><font style="display:inline;color:#000000;">First Delivery Date and within three (3) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit 7(m)</font><font style="display:inline;color:#000000;"> for which no waiver is applicable, the Company shall cause to be furnished to Cowen a written opinion of Cooley LLP (&#x201C;</font><font style="display:inline;text-decoration:underline;color:#000000;">Company Counsel</font><font style="display:inline;color:#000000;">&#x201D;), or other counsel satisfactory to Cowen, in form and substance satisfactory to Cowen and its counsel, dated the date that the opinion is required to be delivered, respectively, modified, as necessary, to relate to the Registration Statement and the Prospectus as then amended or supplemented; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;font-style:italic;color:#000000;">however</font><font style="display:inline;color:#000000;">, that in lieu of such opinions for subsequent Representation Dates, Company Counsel may furnish Cowen with a letter (a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Reliance Letter</font><font style="display:inline;color:#000000;">&#x201D;) to the effect that Cowen may rely on a prior opinion delivered under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(n)</font><font style="display:inline;color:#000000;"> to the same extent as if it were dated the date of such letter (except that </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">14</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">statements in such prior opinion shall be deemed to relate to the Registration Statement and the Prospectus as amended or supplemented at such Representation Date).&nbsp; </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(o)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Comfort Letter</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On or prior to the First Delivery Date and within three (3) Trading Days of each Representation Date with respect to which the Company is obligated to deliver a certificate in the form attached hereto as </font><font style="display:inline;text-decoration:underline;color:#000000;">Exhibit 7(m)</font><font style="display:inline;color:#000000;"> for which no waiver is applicable, the Company shall cause its independent accountants to furnish Cowen letters (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Comfort Letters</font><font style="display:inline;color:#000000;">&#x201D;), dated the date the Comfort Letter is delivered, in form and substance satisfactory to Cowen, (i) confirming that they are an independent registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii) stating, as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily covered by accountants&#x2019; &#x201C;comfort letters&#x201D; to Cowen in connection with registered public offerings (the first such letter, the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Initial Comfort Letter</font><font style="display:inline;color:#000000;">&#x201D;) and (iii) updating the Initial Comfort Letter with any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(p)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Market Activities</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will not, directly or indirectly, (i) take any action designed to cause or result in, or that constitutes or might reasonably be expected to constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Placement Shares or (ii) sell, bid for, or purchase the Common Stock to be issued and sold pursuant to this Agreement, or pay anyone any compensation for soliciting purchases of the Placement Shares other than Cowen; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> that the Company may bid for and purchase shares of its common stock in accordance with Rule 10b-18 under the Exchange Act.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(q)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Insurance</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company shall maintain insurance in such amounts and covering such risks as is reasonable and customary for the business for which it is engaged.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(r)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Compliance with Laws</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will use commercially reasonable efforts to maintain all material environmental permits, licenses and other authorizations required by federal, state and local law in order to conduct its business as described in the Prospectus, and the Company shall conduct its business, or cause its business to be conducted, in substantial compliance with such permits, licenses and authorizations and with applicable environmental laws, except where the failure to maintain or be in compliance with such permits, licenses and authorizations could not reasonably be expected to result in a Material Adverse Change.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(s)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Investment Company Act</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will conduct its affairs in such a manner so as to reasonably ensure that it will not be or become, at any time prior to the termination of this Agreement, an &#x201C;investment company,&#x201D; as such term is defined in the Investment Company Act, assuming no change in the Commission&#x2019;s current interpretation as to entities that are not considered an investment company.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(t)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Securities Act and Exchange Act</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will use its best efforts to comply with all requirements imposed upon it by the Securities Act and the Exchange Act as from time to time in force, so far as necessary to permit the continuance of sales of, or dealings in, the Placement Shares as contemplated by the provisions hereof and the Prospectus.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(u)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Offer to Sell</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Other than the Prospectus or a free writing prospectus (as defined in Rule 405 under the Securities Act) approved in advance by the Company and Cowen in its capacity as principal or agent hereunder, neither Cowen nor the Company (including its agents and representatives, other than Cowen in its capacity as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule 405 under the Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy Common Stock hereunder.</font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">15</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(v)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Sarbanes-Oxley Act</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will use its best efforts to comply with all effective applicable provisions of the Sarbanes-Oxley Act.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(w)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Emerging Growth Company</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company will promptly notify Cowen if the Company ceases to be an Emerging Growth Company at any time </font><font style="display:inline;color:#000000;">prior to the completion of Cowen&#x2019;s distribution of the Placement Shares pursuant to this Agreement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 8.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Conditions to Cowen&#x2019;s Obligations</font><font style="display:inline;color:#000000;">. The obligations of Cowen hereunder with respect to a Placement will be subject to the continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by the Company of its obligations hereunder, to the completion by Cowen of a due diligence review satisfactory to Cowen in its reasonable judgment, and to the continuing satisfaction (or waiver by Cowen in its sole discretion) of the following additional conditions:</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Registration Statement Effective</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Registration Statement shall be effective and shall be available for (i) all sales of Placement Shares issued pursuant to all prior Placement Notices and (ii) the sale of all Placement Shares contemplated to be issued by any Placement Notice.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Material Notices</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;None of the following events shall have occurred and be continuing:&nbsp;&nbsp;(i) receipt by the Company of any request for additional information from the Commission or any other federal or state governmental authority during the period of effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to the Registration Statement or the Prospectus; (ii)&nbsp;the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv) the occurrence of any event that makes any material statement made in the Registration Statement or the Prospectus or any material document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related Prospectus or such documents so that, in the case of the Registration Statement, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, that in the case of the Prospectus, it will not contain any materially untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Misstatement or Material Omission</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Cowen shall not have advised the Company that the Registration Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in Cowen&#x2019;s reasonable opinion is material, or omits to state a fact that in Cowen&#x2019;s reasonable opinion is material and is required to be stated therein or is necessary to make the statements therein not misleading.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Material Changes</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Except as contemplated in the Prospectus, or disclosed in the Company&#x2019;s reports filed with the Commission, there shall not have been any Material Adverse Change or any development that could reasonably be expected to result in a Material Adverse Change.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(e)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Company Counsel Legal Opinion</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Cowen shall have received an opinion of Company Counsel required to be delivered pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(n)</font><font style="display:inline;color:#000000;"> on or before the date on which such delivery of such opinion is required pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(n)</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(f)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Cowen Counsel Legal Opinion</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Cowen shall have received from Goodwin Procter LLP, counsel for Cowen, such opinion or opinions, on or before the date on which the delivery of the Company Counsel legal </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">16</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">opinion is required pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(n)</font><font style="display:inline;color:#000000;">, with respect to such matters as Cowen may reasonably require, and the Company shall have furnished to such counsel such documents as they request for enabling them to pass upon such matters.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(g)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Comfort Letter</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Cowen shall have received the Comfort Letter required to be delivered pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(o)</font><font style="display:inline;color:#000000;"> on or before the date on which such delivery of such Comfort Letter is required pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(o)</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(h)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Representation Certificate</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Cowen shall have received the certificate required to be delivered pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section&nbsp;7(m)</font><font style="display:inline;color:#000000;"> on or before the date on which delivery of such certificate is required pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(m)</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(i)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Secretary&#x2019;s Certificate</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On or prior to the First Delivery Date, Cowen shall have received a certificate, signed on behalf of the Company by its corporate Secretary, in form and substance satisfactory to Cowen and its counsel.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(j)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Suspension</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Trading in the Common Stock shall not have been suspended on Nasdaq.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(k)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Other Materials</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;On each date on which the Company is required to deliver a certificate pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(m)</font><font style="display:inline;color:#000000;">, the Company shall have furnished to Cowen such appropriate further information, certificates and documents as Cowen may have reasonably requested. All such opinions, certificates, letters and other documents shall have been in compliance with the provisions hereof. The Company will furnish Cowen with such conformed copies of such opinions, certificates, letters and other documents as Cowen shall have reasonably requested.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(l)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Securities Act Filings Made</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;All filings with the Commission required by Rule 424 under the Securities Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time period prescribed for such filing by Rule 424.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(m)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Approval for Listing</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Placement Shares shall either have been (i) approved for listing on Nasdaq, subject only to notice of issuance, or (ii) the Company shall have filed an application for listing of the Placement Shares on Nasdaq at, or prior to, the issuance of any Placement Notice.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(n)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">No Termination Event</font><font style="display:inline;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">There shall not have occurred any event that would permit Cowen to terminate this Agreement pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 11(a)</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 21pt 0pt 0pt;"> 9.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Indemnification and Contribution</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Company Indemnification</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company agrees to indemnify and hold harmless Cowen, the directors, officers, partners, employees and agents of Cowen and each person, if any, who (i) controls Cowen within the meaning of Section 15 of </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;"> or Section 20 of the Exchange Act, or (ii) is controlled by or is under common control with Cowen (a &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Cowen Affiliate</font><font style="display:inline;color:#000000;">&#x201D;) from and against any and all losses, claims, liabilities, expenses and damages (including, but not limited to, any and all reasonable investigative, legal and other expenses&nbsp;&nbsp;incurred in connection with, and any and all amounts paid in settlement (in accordance with </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(c)</font><font style="display:inline;color:#000000;">) of, any action, suit or proceeding between any of the indemnified parties and any indemnifying parties or between any indemnified party and any third party, or otherwise, or any claim asserted), as and when incurred, to which Cowen, or any such person, may become subject under </font><font style="display:inline;color:#000000;">the </font><font style="display:inline;color:#000000;">Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, liabilities, expenses or damages arise out of or are based on (x) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement or the Prospectus or any amendment or supplement to </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">17</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">the Registration Statement or the Prospectus or in any free writing prospectus based, directly or indirectly,&nbsp;&nbsp;on written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify the Common Stock under the securities laws thereof or filed with the Commission, (y) the omission or alleged omission to state in any such document a material fact required to be stated in it or necessary to make the statements in it, in light of the circumstances under which they were made, not misleading; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;font-style:italic;color:#000000;">however</font><font style="display:inline;color:#000000;">, that this indemnity agreement shall not apply to the extent that such loss, claim, liability, expense or damage arises from the sale of the Placement Shares pursuant to this Agreement and is caused directly or indirectly by an untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information relating to Cowen and furnished to the Company by Cowen expressly for inclusion in the Registration Statement or Prospectus.&nbsp;&nbsp;This indemnity agreement will be in addition to any liability that the Company might otherwise have.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Cowen Indemnification</font><font style="display:inline;color:#000000;">. Cowen agrees to indemnify and hold harmless the Company and its directors and each officer of the Company that signed the Registration Statement, and each person, if any, who (i)&nbsp;controls the Company within the meaning of Section 15 of </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;"> or Section 20 of the Exchange Act or (ii) is controlled by or is under common control with the Company against any and all loss, liability, claim, damage and expense described in the indemnity contained in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(a)</font><font style="display:inline;color:#000000;">, as incurred, but only with respect to untrue statements or omissions, or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto) or the Prospectus (or any amendment or supplement thereto) or in any free writing prospectus in reliance upon and in conformity with written information relating to Cowen and furnished to the Company by Cowen expressly for inclusion in the Registration Statement or Prospectus.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Procedure</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Any party that proposes to assert the right to be indemnified under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9 </font><font style="display:inline;color:#000000;">will, promptly after receipt of notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party or parties under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, notify each such indemnifying party in writing of the commencement of such action, enclosing a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from (i) any liability that it might have to any indemnified party otherwise than under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> and (ii) any liability that it may have to any indemnified party under the foregoing provision of this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> unless, and only to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party will not be liable to the indemnified party for any legal or other expenses except as provided below and except for the reasonable costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based on advice of counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict exists (based on advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel to assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">18</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than one separate firm admitted to practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other charges will be reimbursed by the indemnifying party promptly after the indemnifying party receives a written invoice relating to fees, disbursements and other charges. An indemnifying party will not, in any event, be liable for any settlement of any action or claim effected without its written consent.&nbsp;&nbsp;No indemnifying party shall, without the prior written consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim, action or proceeding relating to the matters contemplated by this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> (whether or not any indemnified party is a party thereto), unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such litigation, investigation claim, action or proceeding and does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. </font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;"></font><font style="display:inline;text-decoration:underline;color:#000000;">Contribution</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing paragraphs of this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> is applicable in accordance with its terms but for any reason is held to be unavailable from the Company or Cowen, the Company and Cowen will contribute to the total losses, claims, liabilities, expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount paid in settlement of, any action, suit or proceeding or any claim asserted, but after deducting any contribution received by the Company from persons other than Cowen, such as persons who control the Company within the meaning of </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;">, officers of the Company who signed the Registration Statement and directors of the Company, who also may be liable for contribution) to which the Company and Cowen may be subject in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and Cowen on the other. The relative benefits received by the Company on the one hand and Cowen on the other hand shall be deemed to be in the same proportion as the total Net Proceeds from the sale of the Placement Shares (before deducting expenses) received by the Company bear to the total compensation received by Cowen (before deducting expenses) from the sale of Placement Shares on behalf of the Company.&nbsp;&nbsp;If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault of the Company, on the one hand, and Cowen, on the other, with respect to the statements or omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant equitable considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things, whether the 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 Company or Cowen, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and Cowen agree that it would not be just and equitable if contributions pursuant to this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;"> were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred to above in this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;"> shall be deemed to include, for the purpose of this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;">, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim to the extent consistent with </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(c)</font><font style="display:inline;color:#000000;"> hereof.&nbsp;&nbsp;Notwithstanding the foregoing provisions of this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;">, Cowen shall not be required to contribute any amount in excess of the commissions received by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;">) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;">, any person who controls a party to this Agreement within the meaning of </font><font style="display:inline;color:#000000;">the Securities Act</font><font style="display:inline;color:#000000;">, and any officers, directors, partners, employees or agents of Cowen, will have the same rights to contribution as that party, and each officer and director of the Company who signed the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof. Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect of </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">19</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">which a claim for contribution may be made under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;">, will notify any such party or parties from whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may be sought from any other obligation it or they may have under this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(d)</font><font style="display:inline;color:#000000;"> except to the extent that the failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution is sought. Except for a settlement entered into pursuant to the last sentence of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(c)</font><font style="display:inline;color:#000000;"> hereof, no party will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9(c)</font><font style="display:inline;color:#000000;"> hereof.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 10.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Representations and Agreements to Survive Delivery</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The indemnity and contribution agreements contained in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> of this Agreement and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of their respective dates, regardless of (i) any investigation made by or on behalf of Cowen, any controlling persons, or the Company (or any of their respective officers, directors or controlling persons), (ii) delivery and acceptance of the Placement Shares and payment therefor or (iii) any termination of this Agreement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 11.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Termination.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">Cowen shall have the right by giving written notice as hereinafter specified at any time to terminate this Agreement if (i) any Material Adverse Change, or any development that would reasonably be expected to result in a Material Adverse Change has occurred that, in the reasonable judgment of Cowen, may materially impair the ability of Cowen to sell the Placement Shares hereunder, (ii) the Company shall have failed, refused or been unable to perform any agreement on its part to be performed hereunder; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> in the case of any failure of the Company to deliver (or cause another person to deliver) any certification, opinion, or letter required under </font><font style="display:inline;text-decoration:underline;color:#000000;">Sections</font><font style="display:inline;color:#000000;">&nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">7(m)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">7(n)</font><font style="display:inline;color:#000000;">, or </font><font style="display:inline;text-decoration:underline;color:#000000;">7(o)</font><font style="display:inline;color:#000000;">, Cowen&#x2019;s right to terminate shall not arise unless such failure to deliver (or cause to be delivered) continues for more than thirty (30) days from the date such delivery was required, or (iii)&nbsp;any other condition of Cowen&#x2019;s obligations hereunder is not fulfilled, or (iv) any suspension or limitation of trading in the Placement Shares or in securities generally on Nasdaq shall have occurred.&nbsp;&nbsp;Any such termination shall be without liability of any party to any other party except that the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 10</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 16</font><font style="display:inline;color:#000000;"> and </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 17</font><font style="display:inline;color:#000000;"> hereof shall remain in full force and effect notwithstanding such termination. If Cowen elects to terminate this Agreement as provided in this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 11(a)</font><font style="display:inline;color:#000000;">, Cowen shall provide the required written notice as specified in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 12</font><font style="display:inline;color:#000000;">).</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">The Company shall have the right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement in its sole discretion </font><font style="display:inline;color:#000000;">at any time after the date of this Agreement</font><font style="display:inline;font-weight:bold;color:#000000;">.</font><font style="display:inline;color:#000000;"> &nbsp;Any such termination shall be without liability of any party to any other party except that the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 10</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 16</font><font style="display:inline;color:#000000;"> and </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 17</font><font style="display:inline;color:#000000;"> hereof shall remain in full force and effect notwithstanding such termination.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">Cowen shall have the right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement in its sole discretion</font><font style="font-weight:bold;color:#0000FF;border-bottom-style:double;border-bottom-width:2pt;color:#000000;height:100%;text-indent:0pt;">&nbsp;</font><font style="display:inline;color:#000000;">at any time after the date of this Agreement</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;Any</font><font style="display:inline;color:#000000;"> such termination shall be without liability of any party to any other party except that the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 10</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 16</font><font style="display:inline;color:#000000;"> and </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 17</font><font style="display:inline;color:#000000;"> hereof shall remain in full force and effect notwithstanding such termination.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">Unless earlier terminated pursuant to this </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 11</font><font style="display:inline;color:#000000;">, this Agreement shall automatically terminate upon the issuance and sale of all of the Placement Shares through Cowen on the terms and subject to the conditions set forth herein; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;"> that the provisions of </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 10</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 16</font><font style="display:inline;color:#000000;"> and </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 17</font><font style="display:inline;color:#000000;"> hereof shall remain in full force and effect notwithstanding such termination.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(e)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">This Agreement shall remain in full force and effect unless terminated pursuant to </font><font style="display:inline;text-decoration:underline;color:#000000;">Sections 11(a)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">(b)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">(c), or (d)</font><font style="display:inline;color:#000000;"> above or otherwise by mutual agreement of the parties; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however, </font><font style="display:inline;color:#000000;">that any such </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">20</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">termination by mutual agreement shall in all cases be deemed to provide that </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 7(g)</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 10</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;text-decoration:underline;color:#000000;">Section 16</font><font style="display:inline;color:#000000;"> and </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 17</font><font style="display:inline;color:#000000;"> shall remain in full force and effect.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(f)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">Any termination of this Agreement shall be effective on the date specified in such notice of termination; </font><font style="display:inline;font-style:italic;color:#000000;">provided, however,</font><font style="display:inline;color:#000000;"> that such termination shall not be effective until the close of business on the date of receipt of such notice by Cowen or the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares, such Placement Shares shall settle in accordance with the provisions of this Agreement.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(g)&#xA0;</font>
			<font style="display:inline;color:#000000;">Subject to the additional limitations set forth in Section 7 of this Agreement, in the event of termination of this Agreement prior to the sale of any Placement Shares, Cowen will only be entitled to reimbursement of its out of pocket expenses actually incurred.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 12.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Notices</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;All notices or other communications </font><font style="display:inline;color:#000000;">required or permitted to be given by any party to any other party pursuant to the terms of this Agreement </font><font style="display:inline;color:#000000;">shall be in writing, unless otherwise specified in this Agreement, and if sent to Cowen, shall be delivered to Cowen at Cowen and Company, LLC, 599 Lexington Avenue, New York, NY 10022, fax no. 646-562-1124, Attention:&nbsp;&nbsp;General Counsel with a copy to Goodwin Procter LLP fax no. 212-355-3333, Attention: Michael D. Maline; or if sent to the Company, shall be delivered to GlycoMimetics, Inc., 9708 Medical Center Drive, Rockville, Maryland 20850,&nbsp;&nbsp;fax no. 240-243-1018, attention: Chief Executive Officer with a copy to Cooley LLP, 1299 Pennsylvania Avenue, NW, Suite 700, Washington, DC 20004-2400, fax no. 202-842-7899, Attention: Brent Siler. Each party to this Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new address for such purpose.</font><font style="display:inline;color:#000000;"> &nbsp;Each such notice or other communication shall be deemed given (i) when delivered personally or by verifiable facsimile transmission (with an original to follow) on or before 4:30 p.m., New York City time, on a Business Day (as defined below), or, if such day is not a Business Day on the next succeeding Business Day, (ii) on the next Business Day after timely delivery to a nationally-recognized overnight courier and (iii) on the Business</font><font style="display:inline;font-weight:bold;color:#000000;">&nbsp;</font><font style="display:inline;color:#000000;">Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt requested, postage prepaid). For purposes of this Agreement, &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;color:#000000;">Business Day</font><font style="display:inline;color:#000000;">&#x201D; shall mean any day on which Nasdaq and commercial banks in the City of New York are open for business.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 13.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Successors and Assigns</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement shall inure to the benefit of and be binding upon the Company and Cowen and their respective successors and the affiliates, controlling persons, officers and directors referred to in </font><font style="display:inline;text-decoration:underline;color:#000000;">Section 9</font><font style="display:inline;color:#000000;"> hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted assigns of such party. </font><font style="display:inline;color:#000000;">Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither party may assign its rights or obligations under this Agreement without the prior written consent of the other party; </font><font style="display:inline;font-style:italic;color:#000000;">provided</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;font-style:italic;color:#000000;">however</font><font style="display:inline;color:#000000;">, that Cowen may assign its rights and obligations hereunder to an affiliate of Cowen without obtaining the Company&#x2019;s consent so long as such affiliate is a registered broker dealer.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 14.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Adjustments for Share Splits</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted to take into account any share split, share dividend or similar event effected with respect to the Common Stock.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 15.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Entire Agreement; Amendment; Severability</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement (including all schedules and exhibits attached hereto and Placement Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof.</font><font style="display:inline;color:#000000;"> Neither this Agreement nor any term hereof may be amended except pursuant to a written instrument executed by the Company and Cowen.&nbsp;&nbsp;In the event that any one or more of </font><font style="display:inline;color:#000000;"></font></p></td></tr></table></div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">21</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td valign="top" align="left" style="width: 100%; display: inline;"><p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;;"><font style="display:inline;color:#000000;">the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable as written </font><font style="display:inline;color:#000000;">by a court of competent jurisdiction</font><font style="display:inline;color:#000000;">, &nbsp;</font><font style="display:inline;color:#000000;">then such provision shall be given full force and effect to the fullest possible extent that it is</font><font style="display:inline;color:#000000;"> valid, legal and enforceable,</font><font style="display:inline;color:#000000;"> and the remainder of the terms and provisions herein shall be construed as if such </font><font style="display:inline;color:#000000;">invalid, illegal or unenforceable </font><font style="display:inline;color:#000000;">term or provision was not contained herein, but only to the extent that giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of the parties as reflected in this Agreement</font><font style="display:inline;color:#000000;">.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 16.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Applicable Law; Consent to Jurisdiction</font><font style="display:inline;color:#000000;">. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of </font><font style="display:inline;">New York</font><font style="display:inline;color:#000000;"> without regard to the principles of conflicts of laws. </font><font style="display:inline;color:#000000;">Each party hereby irrevocably submits to the non-exclusive jurisdiction of the state and federal courts sitting in the City of New York, borough of Manhattan, for the adjudication of any dispute hereunder or in connection with any transaction contemplated hereby, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper.&nbsp;&nbsp;Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof (certified or registered mail, return receipt requested) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof.&nbsp;&nbsp;Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 17.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Waiver of Jury Trial</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;The Company and Cowen each hereby irrevocably waives any right it may have to a trial by jury in respect of any claim based upon or arising out of this Agreement or any transaction contemplated hereby.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 18.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Absence of Fiduciary Relationship</font><font style="display:inline;font-style:italic;color:#000000;">.&nbsp; </font><font style="display:inline;color:#000000;">The Company acknowledges and agrees that:</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(a)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">Cowen has been retained solely to act as sales agent in connection with the sale of the </font><font style="display:inline;color:#000000;">Common Stock</font><font style="display:inline;color:#000000;"> and that no fiduciary, advisory or agency relationship between the Company and Cowen has been created in respect of any of the transactions contemplated by this Agreement, irrespective of whether Cowen has advised or is advising the Company on other matters;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(b)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">the Company is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the transactions contemplated by this Agreement;</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;border-bottom:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(c)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">the Company has been advised that Cowen and its affiliates are engaged in a broad range of transactions which may involve interests that differ from those of the Company and that Cowen has no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency relationship; and</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;border-top:1pt none #D9D9D9;text-align:justify;text-justify:inter-ideograph;display: inline;padding:0pt 1pt 0pt 0pt;">(d)&#xA0;</font>
			<font style="display:inline;color:#000000;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;color:#000000;">the Company waives, to the fullest extent permitted by law, any claims it may have against Cowen, for breach of fiduciary duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement, and agrees that Cowen shall have no liability (whether direct or indirect) to the Company in respect of such a fiduciary claim or to any person asserting a fiduciary duty claim on behalf of or in right of the Company, including stockholders, partners, employees or creditors of the Company.</font></p></td></tr></table></div>
		<div style="width:100%"><table style="width:100%;" cellpadding="0" cellspacing="0"><tr><td style="width:0pt;"><p style="width:0pt;font-size:0pt;"></p></td><td valign="top" align="left" style="width: 100%;text-indent:36pt; display: inline;">
			<p style="text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;margin:0pt 0pt 12pt;">
				<font style="margin:0pt 0pt 12pt;font-family:Times New Roman,Times,serif;font-weight:normal;font-style:normal;text-transform:none;text-decoration:none;color:#000000;font-size:12pt;text-decoration:none;text-align:justify;text-justify:inter-ideograph;;;padding:0pt 16pt 0pt 0pt;"> 19.&#xA0;&#xA0;</font>
			<font style="display:inline;text-decoration:underline;color:#000000;">Counterparts</font><font style="display:inline;color:#000000;">.&nbsp;&nbsp;This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile or other electronic transmission.</font></p></td></tr></table></div>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">22</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;color:#000000;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;">[Remainder of Page Intentionally Blank]</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			<font style="display:inline;">-</font><font style="display:inline;">23</font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;"></font><font style="display:inline;">-</font>

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">If the foregoing correctly sets forth the understanding between the Company and Cowen, please so indicate in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Company and Cowen.&nbsp; </font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td valign="top" style="width:270.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="width:270.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Very truly yours,</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">COWEN AND COMPANY, LLC</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:24.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:245.70pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">/s/</font><font style="display:inline;"> Robert Sine</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:24.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:245.70pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Name:</font><font style="display:inline;"> &nbsp;Robert Sine</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:24.30pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:245.70pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Title:&nbsp; </font><font style="display:inline;">Managing Director</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-bottom:1pt none #D9D9D9 ;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-top:1pt none #D9D9D9 ;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
			<tr>
				<td colspan="3" valign="top" style="width:540.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">ACCEPTED as of the date</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">first-above written:</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;font-weight:bold;">GLYCOMIMETICS, INC.</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:23.40pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">By:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:246.60pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">/s/ Rachel King</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Name:&nbsp;&nbsp;Rachel King</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td colspan="2" valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:270.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Title:&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			&nbsp;
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:center;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-weight:bold;text-decoration:underline;">SCHEDULE 1</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:center;text-decoration:underline;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-family:Times New Roman Bold;text-transform:none;">FORM OF</font><font style="display:inline;text-transform:none;">&nbsp;</font><font style="display:inline;">PLACEMENT NOTICE</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-decoration:none;text-align:center;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -72pt;text-align:left;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">From:</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -72pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Cc:</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</font>
		</p>
		<p style="margin:0pt 0pt 0pt 72pt;text-indent: -72pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">To:</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">[</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">]</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;text-align:left;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Subject:</font><font style="display:inline;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font><font style="display:inline;">Cowen at the Market Offering</font><font style="display:inline;">&#x2014;Placement Notice</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Gentlemen:</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:0pt;border-top:1pt none #D9D9D9 ;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Pursuant to the terms and subject to the conditions contained in the </font><font style="display:inline;">Sales Agreement between </font><font style="display:inline;">GlycoMimetics</font><font style="display:inline;">, Inc., a Delaware corporation</font><font style="display:inline;"> (the &#x201C;</font><font style="display:inline;text-decoration:underline;">Company</font><font style="display:inline;">&#x201D;), and </font><font style="display:inline;">Cowen and Company, LLC</font><font style="display:inline;"> (&#x201C;</font><font style="display:inline;text-decoration:underline;">Cowen</font><font style="display:inline;">&#x201D;) dated</font><font style="display:inline;">&nbsp;</font><font style="display:inline;">March</font><font style="display:inline;"> &nbsp;[</font><font style="display:inline;">1</font><font style="display:inline;">], 2016 </font><font style="display:inline;">(the &#x201C;</font><font style="display:inline;text-decoration:underline;">Agreement</font><font style="display:inline;">&#x201D;), I hereby request on behalf of the Company that </font><font style="display:inline;">Cowen</font><font style="display:inline;"> sell up to [</font><font style="display:inline;">&nbsp;</font><font style="display:inline;"> ] shares of the Company&#x2019;s common stock, par value </font><font style="display:inline;">$0.001</font><font style="display:inline;"> per share, at a minimum market price of $</font><font style="display:inline;">0.001</font><font style="display:inline;"> per share.</font><font style="display:inline;"> &nbsp;Sales should begin on the date of this Notice and shall continue until [DATE] [all shares are sold].</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:left;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-weight:bold;text-decoration:underline;">SCHEDULE 2</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;border-top:1pt none #D9D9D9 ;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;text-decoration:underline;">GlycoMimetics, Inc.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Rachel K. King</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Brian M. Hahn</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;text-decoration:underline;">Cowen and Company, LLC</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Jeff Urlich</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Jason Fenton</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;"></font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:left;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-align:right;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;font-weight:bold;text-decoration:underline;">SCHEDULE 3</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;">Compensation</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-align:left;border-top:1pt none #D9D9D9 ;text-indent:0pt;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">Cowen shall be paid compensation equal to 3.0% of the gross proceeds from the sales of Common Stock pursuant to the terms of this Agreement.</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font>
		</p>
		<p style="margin:0pt;text-align:right;text-decoration:underline;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;"></font></p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;">
		<p><font size="1"> </font></p><div style="width:100%">

		<p style="margin:24pt 0pt 0pt;text-align:left;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

</div></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><hr align="center" style='background-color:#000000; border-width:0; color:#000000; height:2pt; lineheight:0; width:100%;'></hr><p style="page-break-after:always">&nbsp;</p></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"></div><div style="margin-left:5.88235294117647%;margin-right:5.88235294117647%;"><p style="margin:0pt;text-align:right;text-decoration:underline;font-weight:bold;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;"><font style="display:inline;">Exhibit 7(m) </font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;font-weight:bold;text-decoration:underline;">OFFICER CERTIFICATE</font>
		</p>
		<p style="margin:0pt;text-align:center;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-bottom:1pt none #D9D9D9 ;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">The undersigned, the duly qualified and elected _______________________, of GlycoMimetics, Inc.</font><font style="display:inline;font-weight:bold;">&nbsp;</font><font style="display:inline;">(&#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Company</font><font style="display:inline;">&#x201D;), a Delaware corporation, does hereby certify in such capacity and on behalf of the Company, pursuant to </font><font style="display:inline;text-decoration:underline;">Section 7(m)</font><font style="display:inline;"> of the Sales Agreement dated March 1, 2016 (the &#x201C;</font><font style="display:inline;font-weight:bold;text-decoration:underline;">Sales Agreement</font><font style="display:inline;">&#x201D;) between the Company and Cowen and Company, LLC, that to the best of the knowledge of the undersigned.</font>
		</p>
		<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;text-indent:0pt;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(i)</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">The representations and warranties of the Company in </font><font style="display:inline;text-decoration:underline;">Section 6</font><font style="display:inline;"> of the Sales Agreement (A) to the extent such representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material Adverse Change, are true and correct on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof, except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date, and (B) to the extent such representations and warranties are not subject to any qualifications or exceptions, are true and correct in all material respects as of the date hereof as if made on and as of the date hereof with the same force and effect as if expressly made on and as of the date hereof except for those representations and warranties that speak solely as of a specific date and which were true and correct as of such date; and</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">(ii)</font><font style="display:inline;;font-size: 12pt;font-family:Times New Roman,Times,serif;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display:inline;">The Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant to the Sales Agreement at or prior to the date hereof.</font>
		</p>
		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;text-indent:36pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-bottom:1pt none #D9D9D9 ;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<p style="margin:0pt 0pt 0pt 216pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:0pt 0pt 0pt 216pt;border-top:1pt none #D9D9D9 ;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
			<font style="display:inline;">&nbsp;</font>
		</p>
		<div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;">
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					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						<font style="display:inline;font-size:1pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:144.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:137.50pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-bottom:1pt none #D9D9D9 ;width:155.00pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="width:76.50pt;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;height:1.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;height:1.00pt;overflow:hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:right;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">By:</font></p>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:155.00pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:76.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:155.00pt;border-top:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Name:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:76.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:155.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Title:</font></p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:76.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
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						&nbsp;</p>
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					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">&nbsp;</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:155.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;width:76.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:left;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
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				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:27.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						<font style="display:inline;">Date:</font></p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;width:144.00pt;border-bottom:1pt solid #000000 ;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:137.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
				<td valign="top" style="border-right:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:155.00pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
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				<td valign="top" style="border-left:1pt none #D9D9D9 ;border-top:1pt none #D9D9D9 ;border-right:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;width:76.50pt;padding:0pt;">
					<p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">
						&nbsp;</p>
				</td>
			</tr>
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			<font style="display:inline;">&nbsp;</font>
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		<p style="margin:24pt 0pt 0pt;text-align:left;color:#000000;text-justify:inter-ideograph;font-family:Times New Roman,Times,serif;font-size: 12pt;">

			&nbsp;

		</p>

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