<SEC-DOCUMENT>0000947871-21-000109.txt : 20210127
<SEC-HEADER>0000947871-21-000109.hdr.sgml : 20210127
<ACCEPTANCE-DATETIME>20210127160551
ACCESSION NUMBER:		0000947871-21-000109
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20210126
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210127
DATE AS OF CHANGE:		20210127

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEMETIS, INC
		CENTRAL INDEX KEY:			0000738214
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				261407544
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36475
		FILM NUMBER:		21559756

	BUSINESS ADDRESS:	
		STREET 1:		20400 STEVENS CREEK BLVD
		STREET 2:		SUITE 700
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014
		BUSINESS PHONE:		408-517-3304

	MAIL ADDRESS:	
		STREET 1:		20400 STEVENS CREEK BLVD
		STREET 2:		SUITE 700
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AE BIOFUELS, INC.
		DATE OF NAME CHANGE:	20110714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AE Biofuels, Inc.
		DATE OF NAME CHANGE:	20071212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARWICH II LTD
		DATE OF NAME CHANGE:	19840123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>ss190754_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date of Report (Date of earliest event reported):
January 26, 2021</B></P>

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

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

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

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

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

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

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    <TD STYLE="width: 31%; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>Nevada</B></FONT></TD>
    <TD STYLE="width: 35%; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-36475</B></FONT></TD>
    <TD STYLE="width: 34%; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt"><B>26-1407544</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(State or Other Jurisdiction</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;of Incorporation)</I></P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Commission</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;File Number)</I></P></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(I.R.S. Employer</I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>&nbsp;Identification No.)</I></P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>20400 Stevens Creek Blvd., Suite 700</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Cupertino, California 95014</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(408) 213-0940</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Former name or former address, if changed
since last report)</I></P>

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

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    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="background-color: white"><B>Title
        of class of registered securities</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="background-color: white">Common
        Stock, par value $0.001 per share</FONT></P></TD>
    <TD STYLE="width: 34%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="background-color: white"><B>Ticker
        Symbol</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AMTX</P></TD>
    <TD STYLE="width: 33%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="background-color: white"><B>Name
        of exchange on which registered</B></FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">NASDAQ</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp; Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp; Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9744;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>At the Market Issuance Sales Agreement</I></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt"><FONT STYLE="background-color: white">On January
26, 2021, Aemetis, Inc. (the &ldquo;Company&rdquo;) entered into an</FONT> At the Market Issuance Sales Agreement <FONT STYLE="background-color: white">(the
&ldquo;Agreement&rdquo;) with</FONT> H.C. Wainwright &amp; Co., LLC (the <FONT STYLE="background-color: white">&ldquo;Distribution
Agent&rdquo;).</FONT> In accordance with the terms of the Agreement, the Company may offer and sell from time to time through the
Distribution Agent the Company&rsquo;s common stock having an aggregate offering price of up to $84,000,000 (the &ldquo;Placement
Shares&rdquo;). <FONT STYLE="background-color: white">The Placement Shares will be issued pursuant to the Company&rsquo;s shelf
registration statement on Form&nbsp;S-3&nbsp;(Registration&nbsp;No.&nbsp;333-</FONT>248492<FONT STYLE="background-color: white">).&nbsp;The
Company filed a prospectus supplement dated January 26, 2021, with the Securities and Exchange Commission in connection with the
offer and sale of the Placement Shares.</FONT></P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">Sales of the Placement Shares, if any, will be
made by means of ordinary brokers&rsquo; transactions on the NASDAQ Stock Market at market prices, in block transactions or as
otherwise agreed by the Company and the Distribution Agent. The Company shall pay to the Distribution Agent in cash, upon each
sale of Placement Shares pursuant to the Agreement, an amount equal to 3.0% of the gross proceeds from each sale of Placement Shares.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">Under the terms of the Agreement, the Company
may also sell Placement Shares from time to time to the Distribution Agent as principal for its own account at a price negotiated
at the time of sale. Any sale of Placement Shares to the Distribution Agent as principal would be pursuant to the terms of a separate
agreement between the Company and the Distribution Agent.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">This Current Report on Form&nbsp;8-K&nbsp;shall
not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these 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.</P>

<P STYLE="font: 7.5pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 27pt">The summary of the Agreement in this report does
not purport to be complete and is qualified by reference to such agreement, which is filed as Exhibit 1.1 hereto. The legal opinion
relating to the Placement Shares is filed as Exhibit 5.1 hereto.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 27pt">(d)&nbsp; Exhibits.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 7%; border-bottom: black 1.5pt solid">
        <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 8.5pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 1%; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 92%; border-bottom: black 1.5pt solid; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8.5pt"><B>Description of the Exhibit</B></FONT></TD></TR>
<TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">1.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><A HREF="ss190754_ex0101.htm" STYLE="-sec-extract: exhibit">At the Market Issuance Sales Agreement, dated January 26, 2021 between the Company and H.C. Wainwright &amp; Co., LLC</A></TD></TR>
<TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">5.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><A HREF="ss190754_ex0501.htm" STYLE="-sec-extract: exhibit">Opinion of Nevada Legal Counsel to the Company.</A></TD></TR>
<TR>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; text-align: center">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="background-color: #CCEEFF">
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 10pt">23.1</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif"><A HREF="ss190754_ex0501.htm" STYLE="-sec-extract: exhibit">Consent of Nevada Legal Counsel (included in Exhibit 5.1).</A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Aemetis, Inc.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 12%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 2.25pt double"><FONT STYLE="font-size: 10pt">January 27, 2021</FONT></TD>
    <TD STYLE="border-bottom: white 2.25pt double"><FONT STYLE="font-size: 10pt">By:&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-size: 10pt">/s/&nbsp;Eric A. McAfee</FONT></TD>
    <TD STYLE="border-bottom: white 2.25pt double">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt"><I>Eric A. McAfee</I></FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt"><I>Chief Executive Officer</I></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>ss190754_ex0101.htm
<DESCRIPTION>AT THE MARKET ISSUANCE SALES AGREEMENT
<TEXT>
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<P STYLE="text-align: right; font: 12pt Times New Roman, Times, Serif; margin: 0"><B><I>Execution Version </I>&nbsp;</B></P>

<P STYLE="font: 12pt/92% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/92% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AEMETIS, INC.</B></P>

<P STYLE="font: 12pt/93% Times New Roman, Times, Serif; margin: 0.15in 0 0; text-align: center">Common Stock<BR>
(par value $0.001 per share)</P>

<P STYLE="text-align: center; font: 12pt/90% Times New Roman, Times, Serif; margin-top: 0.2in; margin-bottom: 0"><B>At Market Issuance Sales Agreement</B></P>

<P STYLE="text-align: right; font: 12pt/90% Times New Roman, Times, Serif; margin: 12.6pt 0 12pt">&#9;January 26, 2021</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 99.75pt 0 0">H.C. Wainwright &amp; Co., LLC<BR>
430 Park Avenue<BR>
New York, NY 10022</P>

<P STYLE="font: 12pt/81% Times New Roman, Times, Serif; margin: 12pt 0 0">Ladies and Gentlemen:</P>

<P STYLE="font: 12pt/93% Times New Roman, Times, Serif; margin: 0.15in 0 0; text-align: justify; text-indent: 0.5in">Aemetis, Inc.,
a Nevada corporation (the &#8220;<U>Company</U>&#8221;), confirms its agreement (this &#8220;<U>Agreement</U>&#8221;) with H.C.
Wainwright &amp; Co., LLC (&#8220;<U>Distribution Agent</U>&#8221; and &#8220;<U>HCW</U>&#8221;) as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.5in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Issuance and Sale of Shares.</U> 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 the Distribution Agent shares (the &#8220;<U>Placement
Shares</U>&#8221;) of the Company&#8217;s common stock, par value $0.001 per share (the &#8220;<U>Common Stock</U>&#8221;); <I>provided
however, </I>that in no event shall the Company issue or sell through the Distribution Agent such number of Placement Shares that
(a) exceeds the number of shares or dollar amount of Common Stock registered on the effective Registration Statement (as defined
below) pursuant to which the offering is being made, (b) exceeds the number of authorized but unissued shares of Common Stock,
(c) exceeds the number of shares or dollar amount registered on the Prospectus Supplement (as defined below) or (d) exceeds the
dollar amount of shares of Common Stock that would cause the Company or the offering of the Placement Shares to not satisfy the
eligibility and transaction requirements for use of Form S-3 (including, if applicable, General Instruction I.B.6 of Registration
Statement on Form S-3 (the lesser of (a), (b), (c) and (d), the &#8220;<U>Maximum Amount</U>&#8221;) . Notwithstanding anything
to the contrary contained herein, the parties hereto agree that compliance with the limitations set forth in this <U>Section 1</U>
on the number of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that
the Distribution Agent shall have no obligation in connection with such compliance, provided that the Distribution Agent shall
not sell any more Placement Shares than the aggregate amount requested by the Company on all Placement Notices (as defined below).
The issuance and sale of Placement Shares through the Distribution Agent will be effected pursuant to the Registration Statement
(as defined below), although nothing in this Agreement shall be construed as requiring the Company to use the Registration Statement
to issue any Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0.05in 0 0; text-align: justify; text-indent: 0.5in">The Company
has filed, in accordance with the provisions of the Securities Act of 1933, as amended, and the rules and regulations thereunder
(the &#8220;<U>Securities Act</U>&#8221;), with the Securities and Exchange Commission (the &#8220;<U>Commission</U>&#8221;), a
registration statement on Form S-3 (File No. 333-248492), including a base prospectus, relating to certain securities, including
the Placement Shares 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 (the &#8220;<U>Exchange Act</U>&#8221;). The Company has prepared a prospectus supplement to the base prospectus
included as part of such registration statement specifically relating to the Placement Shares (the &#8220;<U>Prospectus Supplement</U>&#8221;).
</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0.05in 0 0; text-align: justify">The Company will furnish to the Distribution Agent, for use by the Distribution Agent, copies of the base prospectus included as
part of such registration statement, as supplemented by the Prospectus Supplement, relating to the Placement Shares. Except where
the context otherwise requires, such registration statement, 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 of the Securities
Act, is herein called the &#8220;<U>Registration Statement</U>.&#8221; The base prospectus, including all documents incorporated
or deemed incorporated therein by reference <FONT STYLE="line-height: 93%">to the extent such information has not been superseded
or modified in accordance with Rule 412 under the Securities Act (as qualified by Rule 430B(g) of the Securities Act)</FONT>, included
in the Registration Statement, as it may be supplemented by the Prospectus Supplement, in the form in which such base 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, is herein called the &#8220;<U>Prospectus</U>.&#8221; 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 &#8220;amend,&#8221; &#8220;amendment&#8221; or &#8220;supplement&#8221; 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 incorporated by reference therein (the &#8220;<U>Incorporated Documents</U>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0.05in 0 0; text-align: justify; text-indent: 0.5in">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 the most recent copy filed with the Commission pursuant to its Electronic Data Gathering Analysis and Retrieval
System, or if applicable, the Interactive Data Electronic Application system when used by the Commission (collectively, &#8220;<U>EDGAR</U>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.5in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Placements.</U> Each time that the Company wishes to issue and sell Placement Shares hereunder (each, a &#8220;<U>Placement</U>&#8221;),
it will notify the Distribution Agent by email notice (or other method mutually agreed to in writing by the parties) of the number
of Placement Shares, 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 day and any minimum price below which sales may not be made (a &#8220;<U>Placement Notice</U>&#8221;),
the form of which is attached hereto as <U>Schedule 1.</U> The Placement Notice shall originate from either of the individuals
from the Company set forth on <U>Schedule 3</U> (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 the Distribution Agent set forth on <U>Schedule 3,</U> as such <U>Schedule
3</U> may be amended from time to time. The Placement Notice shall be effective immediately upon receipt by the Distribution Agent
unless and until (i) the Distribution Agent declines to accept the terms contained therein for any reason, in its sole discretion,
(ii) the entire amount of the Placement Shares thereunder has been sold, (iii) the Company suspends or terminates the Placement
Notice or (iv) this Agreement has been terminated under the provisions of <U>Section 13</U>. The amount of any discount, commission
or other compensation to be paid by the Company to the Distribution Agent in connection with the sale of the Placement Shares shall
be calculated in accordance with the terms set forth in <U>Schedule 2</U>. It is expressly acknowledged and agreed that neither
the Company nor the Distribution Agent will have any obligation whatsoever with respect to a Placement or any Placement Shares
unless and until the Company delivers a Placement Notice to the Distribution Agent and the Distribution Agent does not decline
such Placement Notice pursuant to the terms set forth above, and then only upon the terms specified therein and herein. In the
event of a conflict between the terms of <U>Sections 2</U> or <U>3</U> of this Agreement and the terms of a Placement Notice, the
terms of the Placement Notice will control.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.5in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sale of Placement Shares by the Distribution Agent.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to the terms and conditions of this Agreement, for the period specified in a Placement Notice, the Distribution
Agent 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 (the &#8220;<U>Exchange</U>&#8221;), to sell the
Placement Shares up to the amount specified in, and otherwise in accordance with the terms of, such Placement Notice. The Distribution
Agent will provide written confirmation to the Company no later than the opening of the Trading Day (as defined below) immediately
following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares
sold on such day, the compensation payable by the Company to the Distribution Agent pursuant to <U>Section 2</U> with respect to
such sales, and the Net Proceeds (as defined below) payable to the Company, with an itemization of the deductions made by the Distribution
Agent (as set forth in <U>Section 5(b))</U> from the gross proceeds that it receives from such sales. Subject to the terms of a
Placement Notice, the Distribution Agent may sell Placement Shares by any method permitted by law deemed to be an &#8220;at the
market offering&#8221; as defined in Rule 415 of the Securities Act, including without limitation sales made directly on the Exchange,
on any other existing trading market for the Common Stock or to or through a market maker. Subject to the terms of a Placement
Notice, the Distribution Agent may also sell, with the Company&#8217;s consent, Placement Shares by any other method permitted
by law, including but not limited to negotiated transactions. &#8220;<U>Trading Day</U>&#8221; means any day on which Common Stock
is purchased and sold on the Exchange.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>During the term of this Agreement, neither the Distribution Agent nor any of its respective affiliates or subsidiaries shall,
for their own respective accounts, engage in (i) any short sale of any security of the Company, (ii) any sale of any security of
the Company that the Distribution Agent do not own or any sale which is consummated by the delivery of a security of the Company
borrowed by, or for the account of, the Distribution Agent, (iii) any proprietary trading or trading for the Distribution Agent&#8217;s
(or its affiliates&#8217; or subsidiaries&#8217;) own account, or (vi) any market making, bidding, stabilization or other trading
activity with regard to the Common Stock or related derivative securities if such activity would be prohibited under Regulation
M or other anti-manipulation rules under the Securities Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Suspension of Sales.</U> The Company or the Distribution Agent 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 <U>Schedule 3</U>, 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 <U>Schedule </U>3), suspend any sale of Placement Shares (a &#8220;<U>Suspension</U>&#8221;); <I>provided, however</I>, that
such suspension shall not affect or impair any party&#8217;s obligations with respect to any Placement Shares sold hereunder prior
to the receipt of such notice. While a Suspension is in effect, any obligation under <U>Sections 7(l)</U>, <U>7(m)</U>, and <U>7(n)</U>
with respect to the delivery of certificates, opinions, or comfort letters to the Distribution Agent, shall be waived. Each of
the parties agrees that no such notice under this <U>Section 4</U> shall be effective against any other party unless it is made
to one of the individuals named on <U>Schedule 3</U> hereto, as such Schedule may be amended from time to time.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sale and Delivery to the Distribution Agent; Settlement.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sale of Placement Shares.</U> On the basis of the representations and warranties herein contained and subject to the
terms and conditions herein set forth, upon the Distribution Agent&#8217;s acceptance of the terms 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, the Distribution Agent, 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 Exchange to sell such Placement Shares up to the amount specified in, and otherwise in accordance with the terms
of, such Placement Notice. The Company acknowledges and agrees that (i) there can be no assurance that the Distribution Agent will
be successful in selling Placement Shares, (ii) the Distribution Agent 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 the Distribution Agent to
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 Exchange to sell such Placement Shares as required under this Agreement and (iii)
the Distribution Agent shall be under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement,
except as otherwise agreed by the Distribution Agent and the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Settlement of Placement Shares.</U> Unless otherwise specified in the applicable Placement Notice, settlement for sales
of Placement Shares will occur on the second (2<SUP>nd</SUP>) 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 &#8220;<U>Settlement Date</U>&#8221;). The amount of proceeds
to be delivered to the Company on a Settlement Date against receipt of the Placement Shares sold (the &#8220;<U>Net Proceeds</U>&#8221;)
will be equal to the aggregate sales price received by the Distribution Agent, after deduction for (i) the Distribution Agent&#8217;s
commission, discount or other compensation for such sales payable by the Company pursuant to Section 2 hereof, and (ii) any transaction
fees imposed by any governmental or self-regulatory organization in respect of such sales.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Delivery of Placement Shares.</U> 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 the Distribution Agent&#8217;s or its designee&#8217;s
account (provided the Distribution Agent shall have given the Company written notice of such designee and such designee&#8217;s
account information 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 tradable, transferable, registered shares in good deliverable form. On each Settlement Date, the Distribution
Agent will deliver the related Net Proceeds in same day funds to an account designated by the Company on, or prior to, the Settlement
Date. </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">The Company agrees that if the Company, or its transfer agent (if applicable), defaults in its obligation to deliver Placement
Shares on a Settlement Date through no fault of the Distribution Agent, then in addition to and in no way limiting the rights and
obligations set forth in <U>Section 11(a)</U> hereto, it will (i) hold the Distribution Agent harmless against any loss, claim,
damage, or reasonable, documented expense (including reasonable and documented legal fees and expenses), as incurred, arising out
of or in connection with such default by the Company or its transfer agent (if applicable) and (ii) pay to the Distribution Agent
(without duplication) any commission, discount, or other compensation to which it would otherwise have been entitled absent such
default.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT> <U>Limitations on Offering Size.</U> Under no circumstances shall the Company cause or request the offer or sale of any
Placement Shares if, after giving effect to the sale of such Placement Shares, the aggregate number of Placement Shares sold pursuant
to this Agreement would exceed the lesser of (A) together with all sales of Placement Shares under this Agreement, the Maximum
Amount, (B) the amount available for offer and sale under the currently effective Registration Statement and (C) the amount authorized
from time to time to be issued and sold under this Agreement by the Company&#8217;s board of directors, a duly authorized committee
thereof or a duly authorized executive committee, and notified to the Distribution Agent in writing. Under no circumstances shall
the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement at a price lower than the minimum
price authorized from time to time by the Company&#8217;s board of directors, a duly authorized committee thereof or a duly authorized
executive committee, and notified to the Distribution Agent in writing.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sales Through Distribution Agent</U>. The Company agrees that any offer to sell, any solicitation of an offer to buy,
or any sales of Common Stock or any other equity security of the Company on any single given date shall only be effected by or
through the Distribution Agent; provided, however, that (i) the foregoing limitation shall not apply to (A) the exercise of any
option, warrant, right or any conversion privilege set forth in the instruction governing such securities, (B) sales solely to
employees, directors, officers or security holders of the Company or its subsidiaries (or either of their respective affiliates&#8217;
or subsidiaries&#8217;), or to a trustee or other person acquiring such securities for the accounts of such person and (ii) such
limitation shall not apply (A) on any day during which no sales are made pursuant to this Agreement or (B) during a period in which
the Company has notified the Distribution Agent that it will not sell Common Stock under this Agreement and (1) no Placement Notice
is pending or (2) after a Placement Notice has been withdrawn. Notwithstanding anything to the contrary contained herein, subject
to compliance with Regulation M, the Company is not precluded from engaging another broker-dealer or financial institution to sell
the Company&#8217;s securities in a private placement, registered direct offering or similar transaction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.5in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Warranties of the Company.</U> Except as disclosed in the Registration Statement or Prospectus (including
the Incorporated Documents), the Company represents and warrants to, and agrees with the Distribution Agent that as of the date
of this Agreement and as of each Applicable Time (as defined below), unless such representation, warranty or agreement specifies
a different date or time:</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Registration Statement and Prospectus.</U> The Company and, assuming no act or omission on the part of the Distribution
Agent that would make such statement untrue, the transactions contemplated by this Agreement meet the requirements for and comply
with the conditions for the use of Form S-3 under the Securities Act. The Registration Statement has been filed with the Commission
and has been declared effective under the Securities Act. The Company has not received, and has no notice of, any order of the
Commission preventing or suspending the use of the Registration Statement, or threatening or instituting proceedings for that purpose.
The Registration Statement and the offer and sale of Placement Shares as contemplated hereby meet the requirements of Rule 415
under the Securities Act and comply in all material respects with said Rule. Any statutes, regulations, contracts or other documents
that are required to be described in the Registration Statement or the Prospectus or to be filed as exhibits to the Registration
Statement have been so described or filed, as applicable. Copies of the Registration Statement, the Prospectus, and any such amendments
or supplements and all documents incorporated by reference therein that were filed with the Commission on or prior to the date
of this Agreement have been delivered, or are available through EDGAR, to the Distribution Agent and its counsel. The Company has
not distributed and, prior to the later to occur of each Settlement Date and completion of the distribution of the Placement Shares,
will not distribute any offering material in connection with the offering or sale of the Placement Shares other than the Registration
Statement and the Prospectus and any Issuer Free Writing Prospectus (as defined below) to which the Distribution Agent has consented.
The Common Stock is currently quoted on the Exchange. The Company has not, in the 12 months preceding the date hereof, received
notice from the Exchange to the effect that the Company is not in compliance with the listing or maintenance requirements of the
Exchange. To the Company&#8217;s knowledge, it is in compliance with all such listing and maintenance requirements.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Misstatement or Omission.</U> At each Settlement Date, the Registration Statement and the Prospectus, as of such date,
will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became effective,
did 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 statements therein not misleading. The Prospectus and any amendment and supplement thereto, on the date thereof and
at each Applicable Time (defined below), did not or will not include an untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading.
The documents incorporated by reference in the Prospectus or any Prospectus Supplement did not, and any further documents filed
and incorporated by reference therein will not, when filed with the Commission, contain an untrue statement of a material fact
or omit to state a material fact required to be stated in such document or necessary to make the statements in such document, in
light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements in, or omissions
from, any such document made in reliance upon, and in conformity with, information furnished to the Company by the Distribution
Agent specifically for use in the preparation thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conformity with Securities Act and Exchange Act.</U> The Registration Statement, the Prospectus, any Issuer Free Writing
Prospectus or any amendment or supplement thereto, and the Incorporated Documents, when such documents were or are filed with the
Commission under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may
be, conformed or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Financial Information.</U> The consolidated financial statements of the Company included or incorporated by reference
in the Registration Statement and the Prospectus, together with the related notes and schedules, present fairly, in all material
respects, the consolidated financial position of the Company and the Subsidiaries (as defined below) as of the dates indicated
and the consolidated results of operations, cash flows and changes in stockholders&#8217; equity of the Company and the Subsidiaries
for the periods specified (subject, in the case of unaudited statements, to normal year-end audit adjustments which will not be
material, either individually or in the aggregate) and have been prepared in compliance with the published requirements of the
Securities Act and Exchange Act, as applicable, and in conformity with generally accepted accounting principles in the United States
(&#8220;<U>GAAP</U>&#8221;) applied on a consistent basis (except (i) for such adjustments to accounting standards and practices
as are noted therein and (ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed
or summary statements) during the periods involved; the other financial and statistical data with respect to the Company and the
Subsidiaries contained or incorporated by reference in the Registration Statement and the Prospectus are accurately and fairly
presented and prepared on a basis consistent with the financial statements and books and records of the Company; there are no financial
statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement
or the Prospectus that are not included or incorporated by reference as required; the Company and the Subsidiaries do not have
any material liabilities or obligations, direct or contingent (including any off balance sheet obligations), not described in the
Registration Statement and the Prospectus which are required to be described in the Registration Statement or Prospectus; and all
disclosures contained or incorporated by reference in the Registration Statement and the Prospectus, if any, regarding &#8220;non-GAAP
financial measures&#8221; (as such term is defined by the rules and regulations of the Commission) comply in all material respects
with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conformity with EDGAR Filing.</U> The Prospectus delivered to the Distribution Agent for use in connection with the sale
of the Placement Shares pursuant to this Agreement will be identical to the versions of the Prospectus created to be transmitted
to the Commission for filing via EDGAR, except to the extent permitted by Regulation S-T.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Organization.</U> The Company and any subsidiary that is a significant subsidiary (as such term is defined in Rule 1-02
of Regulation S-X promulgated by the Commission) (each, a &#8220;<U>Subsidiary</U>&#8221;, collectively, the &#8220;<U>Subsidiaries</U>&#8221;),
are duly organized, validly existing and in good standing under the laws of their respective jurisdictions of organization. The
Company and the Subsidiaries are duly licensed or qualified as foreign entities for transaction of business and in good standing
under the laws of each other jurisdiction in which their respective ownership or lease of property or the conduct of their respective
businesses requires such license or qualification, and have all corporate or other power and authority necessary to own or hold
their respective properties and to conduct their respective businesses as described in the Registration Statement and the Prospectus,
except where the failure to be so qualified or in good standing or have such power or authority would not, individually or in the
aggregate, have a material adverse effect on the assets, business, operations, earnings, properties condition (financial or otherwise),
prospects, stockholders&#8217; equity or results of operations of the Company and the Subsidiaries taken as a whole, or prevent
the consummation of the transactions contemplated hereby (a &#8220;<U>Material Adverse Effect</U>&#8221;).</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Subsidiaries.</U> As of the date hereof, the Company&#8217;s only Subsidiaries are set forth on <U>Schedule 6(g)</U>.
The Company owns directly or indirectly, all of the equity interests of the Subsidiaries free and clear of any lien, charge, security
interest, encumbrance, right of first refusal or other restriction, and all the equity interests of the Subsidiaries are validly
issued and are fully paid, nonassessable and free of preemptive and similar rights.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Violation or Default.</U> Neither the Company nor any Subsidiary is (i) in violation of its charter or by-laws or
similar organizational documents; (ii) in default, and no event has occurred that, with notice or lapse of time or both, would
constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture,
mortgage, deed of trust, loan agreement or other similar agreement or instrument to which the Company or any Subsidiary is a party
or by which the Company or any Subsidiary is bound or to which any of the property or assets of the Company or any Subsidiary is
subject; or (iii) in violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental
or regulatory authority, except, in the case of each of clauses (ii) and (iii) above, for any such violation or default that would
not, individually or in the aggregate, have a Material Adverse Effect. To the Company&#8217;s knowledge, no other party under any
material contract or other agreement to which it or any Subsidiary is a party is in default in any respect thereunder where such
default would have a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Material Adverse Effect.</U> Since the date of the most recent financial statements of the Company included or incorporated
by reference in the Registration Statement and Prospectus, there has not been (i) any Material Adverse Effect, or any development
that would result in a Material Adverse Effect, (ii) any transaction which is material to the Company and the Subsidiaries taken
as a whole, (iii) any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by
the Company or the Subsidiaries, which is material to the Company and the Subsidiaries taken as a whole, (iv) any material change
in the capital stock (other than (A) the grant of additional options under the Company&#8217;s existing stock option plans, (B)
changes in the number of outstanding Common Stock of the Company due to the issuance of shares upon the exercise or conversion
of securities exercisable for, or convertible into, Common Stock outstanding on the date hereof, (C) as a result of the issuance
of Placement Shares, (D) any repurchases of capital stock of the Company, (E) as described in a proxy statement filed on Schedule
14A or a Registration Statement on Form S-4, or (F) otherwise publicly announced) or outstanding long-term indebtedness of the
Company or the Subsidiaries or (v) any dividend or distribution of any kind declared, paid or made on the capital stock of the
Company or any Subsidiary, other than in each case above in the ordinary course of business or as otherwise disclosed in the Registration
Statement or Prospectus (including any document incorporated by reference therein).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Capitalization.</U> The issued and outstanding shares of capital stock of the Company have been validly issued, are fully
paid and non-assessable and are not subject to any preemptive rights, rights of first refusal or similar rights. </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">The Company has
an authorized, issued and outstanding capitalization as set forth in the Registration Statement and the Prospectus as of the dates
referred to therein (other than (i) the grant of additional options under the Company&#8217;s existing stock option plans, (ii)
changes in the number of outstanding Common Stock of the Company due to the issuance of shares upon the exercise or conversion
of securities exercisable for, or convertible into, Common Stock outstanding on the date hereof, (iii) as a result of the issuance
of Placement Shares, or (iv) any repurchases of capital stock of the Company) and such authorized capital stock conforms to the
description thereof set forth in the Registration Statement and the Prospectus. The description of the Common Stock in the Registration
Statement and the Prospectus is complete and accurate in all material respects.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">k.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization; Enforceability.</U> The Company has full legal right, power and authority to enter into this Agreement
and perform the transactions contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company
and is a legal, valid and binding agreement of the Company enforceable against the Company in accordance with its terms, except
to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors&#8217; rights generally and by general equitable principles and (ii) the indemnification and contribution provisions
of <U>Section 11</U> hereof may be limited by federal or state securities laws and public policy considerations in respect thereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">l.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Authorization of Placement Shares.</U> The Placement Shares, when issued and delivered pursuant to the terms approved
by the board of directors of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against
payment therefor as provided herein, will be duly and validly authorized and issued and fully paid and nonassessable, free and
clear of any pledge, lien, encumbrance, security interest or other claim (other than any pledge, lien, encumbrance, security interest
or other claim arising from an act or omission of the Distribution Agent or a purchaser), including any statutory or contractual
preemptive rights, resale rights, rights of first refusal or other similar rights, and will be registered pursuant to Section 12
of the Exchange Act. The Placement Shares, when issued, will conform in all material respects to the description thereof set forth
in or incorporated into the Prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">m.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Consents Required.</U> No consent, approval, authorization, order, registration or qualification of or with any court
or arbitrator or any governmental or regulatory authority is required for the execution, delivery and performance by the Company
of this Agreement, and the issuance and sale by the Company of the Placement Shares as contemplated hereby, except for such consents,
approvals, authorizations, orders and registrations or qualifications (i) as may be required under applicable state securities
laws or by the by-laws and rules of the Financial Industry Regulatory Authority (&#8220;<U>FINRA</U>&#8221;) or the Exchange, including
any notices that may be required by the Exchange, in connection with the sale of the Placement Shares by the Distribution Agent,
(ii) as may be required under the Securities Act and (iii) as have been previously obtained by the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">n.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Preferential Rights.</U> (i) No person, as such term is defined in Rule 1-02 of Regulation S-X promulgated under the
Securities Act (each, a &#8220;<U>Person</U>&#8221;), has the right, contractual or otherwise, to cause the Company to issue or
sell to such Person any Common Stock or shares of any other capital stock or other securities of the Company (other than upon the
exercise of options or warrants to purchase Common Stock or upon the exercise of options that may be granted from time to time
under the Company&#8217;s stock option plans), </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">(ii) no Person has any preemptive rights, rights of first refusal, or any other
rights (whether pursuant to a &#8220;poison pill&#8221; provision or otherwise) to purchase any Common Stock or shares of any other
capital stock or other securities of the Company from the Company which have not been duly waived with respect to the offering
contemplated hereby, (iii) no Person has the right to act as an underwriter or as a financial advisor to the Company in connection
with the offer and sale of the Common Stock, and (iv) no Person has the right, contractual or otherwise, to require the Company
to register under the Securities Act any Common Stock or shares of any other capital stock or other securities of the Company,
or to include any such shares or other securities in the Registration Statement or the offering contemplated thereby, whether as
a result of the filing or effectiveness of the Registration Statement or the sale of the Placement Shares as contemplated thereby
or otherwise, except in each case for such rights as have been waived on or prior to the date hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">o.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Independent Public Accountant.</U> RSM US LLP (formerly McGladrey LLP) (the &#8220;<U>Accountant</U>&#8221;), whose report
on the consolidated financial statements of the Company is filed with the Commission as part of the Company&#8217;s most recent
Annual Report on Form 10-K filed with the Commission and incorporated into the Registration Statement, are and, during the periods
covered by their report, were independent public accountants within the meaning of the Securities Act and the Public Company Accounting
Oversight Board (United States). To the Company&#8217;s knowledge, the Accountant is not in violation of the auditor independence
requirements of the Sarbanes-Oxley Act of 2002 (the &#8220;<U>Sarbanes-Oxley Act</U>&#8221;) with respect to the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">p.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Enforceability of Agreements.</U> All agreements between the Company and third parties expressly referenced in the Prospectus,
other than such agreements that have expired by their terms or whose termination is disclosed in documents filed by the Company
on EDGAR, are legal, valid and binding obligations of the Company and, to the Company&#8217;s knowledge, enforceable in accordance
with their respective terms, except to the extent that (i) enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting creditors&#8217; rights generally and by general equitable principles and (ii) the indemnification
provisions of certain agreements may be limited by federal or state securities laws or public policy considerations in respect
thereof, and except for any unenforceability that, individually or in the aggregate, would not have a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">q.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Litigation.</U> There are no legal, governmental or regulatory actions, suits or proceedings pending, nor, to the
Company&#8217;s knowledge, any legal, governmental or regulatory investigations, to which the Company or a Subsidiary is a party
or to which any property of the Company or any Subsidiary is the subject that, individually or in the aggregate, would have a Material
Adverse Effect or materially and adversely affect the ability of the Company to perform its obligations under this Agreement; to
the Company&#8217;s knowledge, no actions, suits or proceedings are threatened or contemplated by any governmental or regulatory
authority or threatened by others that, individually or in the aggregate would reasonably be expected to have a Material Adverse
Effect; and there are no current or pending legal, governmental or regulatory actions, suits, proceedings or, to the Company&#8217;s
knowledge, investigations that are required under the Securities Act to be described in the Prospectus that are not described in
the Prospectus (including any Incorporated Document).</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">r.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Licenses and Permits.</U> The Company and the Subsidiaries possess or have obtained, all licenses, certificates, consents,
orders, approvals, permits and other authorizations issued by, and have made all declarations and filings with, the appropriate
federal, state, local or foreign governmental or regulatory authorities that are necessary for the ownership or lease of their
respective properties or the conduct of their respective businesses as described in the Registration Statement and the Prospectus
(the &#8220;<U>Permits</U>&#8221;), except where the failure to possess, obtain or make the same would not, individually or in
the aggregate, have a Material Adverse Effect. Neither the Company nor any Subsidiary has received written notice of any proceeding
relating to revocation or modification of any such Permit or has any reason to believe that such Permit will not be renewed in
the ordinary course, except where the failure to obtain any such renewal would not, individually or in the aggregate, have a Material
Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">s.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Material Defaults.</U> Neither the Company nor any Subsidiary is in default on any installment on indebtedness for
borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would have a
Material Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing
of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred
stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases,
which defaults, individually or in the aggregate, would have a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">t.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Certain Market Activities.</U> Neither the Company, nor any Subsidiary, nor, to the knowledge of the Company, any of
their respective directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has
constituted or would cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of
any security of the Company to facilitate the sale or resale of the Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">u.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Broker/Dealer Relationships.</U> Neither the Company nor any Subsidiary or any related entities (i) is required to register
as a &#8220;broker&#8221; or &#8220;dealer&#8221; in accordance with the provisions of the Exchange Act or (ii) directly or indirectly
through one or more intermediaries, controls or is a &#8220;person associated with a member&#8221; or &#8220;associated person
of a member&#8221; (within the meaning set forth in the FINRA Manual).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">v.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Reliance.</U> The Company has not relied upon either the Distribution Agent or legal counsel for the Distribution
Agent for any legal, tax or accounting advice in connection with the offering and sale of the Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">w.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Taxes.</U> The Company and the Subsidiaries have filed all federal, state, local and foreign tax returns which have been
required to be filed and paid all taxes shown thereon through the date hereof, to the extent that such taxes have become due and
are not being contested in good faith, except where the failure to do so would not have a Material Adverse Effect. Except as otherwise
disclosed in or contemplated by the Registration Statement or the Prospectus, no tax deficiency has been determined adversely to
the Company or any Subsidiary which has had, or would have, individually or in the aggregate, a Material Adverse Effect. The Company
has no knowledge of any federal, state or other governmental tax deficiency, penalty or assessment which has been or might be asserted
or threatened against it which could have a Material Adverse Effect.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">x.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Title to Real and Personal Property.</U> The Company and the Subsidiaries have good and valid title to all items of real
property and good and valid title to all personal property (excluding intellectual property, which is addressed below) described
in the Registration Statement or Prospectus as being owned by them that are material to the businesses of the Company or such Subsidiary,
in each case free and clear of all liens, encumbrances and claims, except those that (i) do not materially interfere with the use
made and proposed to be made of such property by the Company and the Subsidiaries or (ii) would not, individually or in the aggregate,
have a Material Adverse Effect. Any real property described in the Registration Statement or Prospectus as being leased by the
Company and the Subsidiaries is held by them under valid, existing and enforceable leases, except those that (A) do not materially
interfere with the use made or proposed to be made of such property by the Company or the Subsidiaries or (B) would not, individually
or in the aggregate, have a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">y.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Intellectual Property.</U> The Company and the Subsidiaries own or possess adequate enforceable rights to use all patents,
patent applications, trademarks (both registered and unregistered), service marks, trade names, trademark registrations, service
mark registrations, copyrights, licenses and know-how (including trade secrets and other unpatented and/or unpatentable proprietary
or confidential information, systems or procedures) (collectively, the &#8220;<U>Intellectual Property</U>&#8221;), necessary for
the conduct of their respective businesses as conducted as of the date hereof, except to the extent that the failure to own or
possess adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse
Effect; the Company and the Subsidiaries have not received any written notice of any claim of infringement or conflict with asserted
Intellectual Property rights of others, which infringement or conflict would reasonably be expected to result in a Material Adverse
Effect; there are no pending, or to the Company&#8217;s knowledge, threatened judicial proceedings or interference proceedings
against the Company or its Subsidiaries challenging the Company&#8217;s or any of its Subsidiary&#8217;s rights in or to or the
validity of the scope of any of the Company&#8217;s or any Subsidiary&#8217;s patents, patent applications or proprietary information;
no other entity or individual has any right or claim in any patents, patent applications or any patent to be issued therefrom that
are owned or purported to be owned by the Company or any of its Subsidiaries by virtue of any contract, license or other agreement
entered into between such entity or individual and the Company or any Subsidiary or by any non-contractual obligation, other than
by written licenses granted by the Company or any Subsidiary, except as would not, individually or in the aggregate, have a Material
Adverse Effect; the Company and the Subsidiaries have not received any written notice of any claim challenging the rights of the
Company or its Subsidiaries in or to any Intellectual Property owned, licensed or optioned by the Company or any Subsidiary which
claim, if the subject of an unfavorable decision would result in a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">z.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Environmental Laws.</U> The Company and the Subsidiaries (i) are in compliance with any and all applicable federal, state,
local and foreign laws, rules, regulations, decisions and orders relating to the protection of human health and safety, the environment
or hazardous or toxic substances or wastes, pollutants or contaminants (collectively, &#8220;<U>Environmental Laws</U>&#8221;);
(ii) have received and are in compliance with all permits, licenses or other approvals required of them under applicable Environmental
Laws to conduct their respective businesses as described in the Registration Statement and the Prospectus; and (iii) have not received
notice of any actual or potential liability for the investigation or remediation of any disposal or release of hazardous or toxic
substances or wastes, pollutants or contaminants, except, in the case of any of clauses (i), (ii) or (iii) above, for any such
failure to comply or failure to receive required permits, licenses, other approvals or liability as would not, individually or
in the aggregate, have a Material Adverse Effect.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">aa.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Disclosure Controls.</U> The Company maintains a system of internal accounting controls designed to provide reasonable
assurance that (i) transactions are executed in accordance with management&#8217;s general or specific authorizations; (ii) transactions
are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability;
(iii) access to assets is permitted only in accordance with management&#8217;s general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken
with respect to any differences. The Company is not aware of any material weaknesses in its internal control over financial reporting
(other than as set forth in the Registration Statement or the Prospectus). Since the date of the latest audited financial statements
of the Company included in the Prospectus, there has been no change in the Company&#8217;s internal control over financial reporting
that has materially affected, or is reasonably likely to materially affect, the Company&#8217;s internal control over financial
reporting (other than as set forth in the Registration Statement or the Prospectus). The Company has established disclosure controls
and procedures (as defined in Exchange Act Rules 13a-15 and 15d-15) that comply with the requirements of the Exchange Act. The
Company&#8217;s certifying officers have evaluated the effectiveness of the Company&#8217;s controls and procedures as of a date
within 90 days prior to the filing date of the Form 10-K for the fiscal year most recently ended (such date, the &#8220;<U>Evaluation
Date</U>&#8221;). Except as otherwise disclosed on the Company&#8217;s Form 10-K, for the fiscal year most recently ended the conclusions
of the certifying officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the
most recent Evaluation Date, and the &#8220;disclosure controls and procedures&#8221; are effective.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">bb.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sarbanes-Oxley Act.</U> There is and has been no failure on the part of the Company or, to the knowledge of the Company,
any of the Company&#8217;s directors or officers, in their capacities as such, to comply in all material respects with any applicable
provisions of the Sarbanes-Oxley Act and the rules and regulations promulgated thereunder. Each of the principal executive officer
and the principal financial officer of the Company (or each former principal executive officer of the Company and each former principal
financial officer of the Company as applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley
Act with respect to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it
to the Commission during the past 12 months. For purposes of the preceding sentence, &#8220;principal executive officer&#8221;
and &#8220;principal financial officer&#8221; shall have the meanings given to such terms in the Exchange Act Rules 13a-15 and
15d-15.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">cc.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Finder&#8217;s Fees.</U> Neither the Company nor any Subsidiary has incurred any liability for any finder&#8217;s fees,
brokerage commissions or similar payments in connection with the transactions herein contemplated, except as may otherwise exist
with respect to the Distribution Agent pursuant to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">dd.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Labor Disputes.</U> No labor disturbance by or dispute with employees of the Company or any Subsidiary exists or, to
the knowledge of the Company, is threatened which would result in a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">ee.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Investment Company Act.</U> The Company is not nor, after giving effect to the offering and sale of the Placement Shares,
will be required to register as an &#8220;investment company&#8221; as such term is defined in the Investment Company Act of 1940
(the &#8220;<U>Investment Company Act</U>&#8221;).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">ff.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Operations</U>. The operations of the Company and the Subsidiaries are and have been conducted at all times in compliance
with applicable financial record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970,
as amended, the money laundering statutes of all jurisdictions to which the Company or the Subsidiaries are subject, the rules
and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any
governmental agency having jurisdiction over the Company (collectively, the &#8220;<U>Money Laundering Laws</U>&#8221;), except
where the failure to be in such compliance would not result in a Material Adverse Effect; and no action, suit or proceeding by
or before any court or governmental agency, authority or body or any arbitrator involving the Company or any Subsidiary with respect
to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">gg.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Off-Balance Sheet Arrangements.</U>&#9; There are no transactions, arrangements and other relationships between and/or
among the Company, and/or, to the knowledge of the Company, any of its affiliates and any unconsolidated entity, including, but
not limited to, any structured finance, special purpose or limited purpose entity (each, an &#8220;<U>Off Balance Sheet Transaction</U>&#8221;)
that would affect materially the Company&#8217;s liquidity or the availability of or requirements for its capital resources, including
those Off Balance Sheet Transactions described in the Commission&#8217;s Statement about Management&#8217;s Discussion and Analysis
of Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Registration
Statement or the Prospectus which have not been described as required.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">hh.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Underwriter Agreements.</U> The Company is not a party to any agreement with an agent or underwriter for any other &#8220;at-the-market&#8221;
or continuous equity transaction.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">ii.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>ERISA.</U> To the knowledge of the Company, (i) each material employee benefit plan, within the meaning of Section 3(3)
of the Employee Retirement Income Security Act of 1974, as amended (&#8220;<U>ERISA</U>&#8221;), that is maintained, administered
or contributed to by the Company or any of its affiliates for employees or former employees of the Company and the Subsidiaries
has been maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations,
including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the &#8220;<U>Code</U>&#8221;); (ii) no prohibited
transaction, within the meaning of Section 406 of ERISA or Section 4975 of the Code, has occurred which would result in a material
liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory or administrative
exemption; and (iii) for each such plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA,
no &#8220;accumulated funding deficiency&#8221; as defined in Section 412 of the Code has been incurred, whether or not waived,
and the fair market value of the assets of each such plan (excluding for these purposes accrued but unpaid contributions) equals
or exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial assumptions, other than,
in the case of (i), (ii) and (iii) above, as would not have a Material Adverse Effect.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">jj.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Forward-Looking Statements.</U> No forward-looking statement (within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act) (a &#8220;<U>Forward-Looking Statement</U>&#8221;) contained in the Registration Statement
and the Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">kk.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Margin Rules</U>. Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds
thereof by the Company as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board
of Governors of the Federal Reserve System.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">ll.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Insurance.</U> The Company and the Subsidiaries carry, or are covered by, insurance in such amounts and covering such
risks as the Company and the Subsidiaries reasonably believe are adequate for the conduct of their business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">mm.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Improper Practices.</U> (i) Neither the Company nor, to the Company&#8217;s knowledge, the Subsidiaries, nor to the
Company&#8217;s knowledge, any of their respective executive officers has, in the past five years, made any unlawful contributions
to any candidate for any political office (or failed fully to disclose any contribution in violation of law) or made any contribution
or other payment to any official of, or candidate for, any federal, state, municipal, or foreign office or other person charged
with similar public or quasi-public duty in violation of any law or of the character required to be disclosed in the Prospectus;
(ii) no relationship, direct or indirect, exists between or among the Company or, to the Company&#8217;s knowledge, the Subsidiaries
or any affiliate of any of them, on the one hand, and the directors, officers and stockholders of the Company or, to the Company&#8217;s
knowledge, the Subsidiaries, on the other hand, that is required by the Securities Act to be described in the Registration Statement
and the Prospectus that is not so described; (iii) no relationship, direct or indirect, exists between or among the Company or
the Subsidiaries or any affiliate of them, on the one hand, and the directors, officers, stockholders or directors of the Company
or, to the Company&#8217;s knowledge, the Subsidiaries, on the other hand, that is required by the rules of FINRA to be described
in the Registration Statement and the Prospectus that is not so described; (iv) there are no material outstanding loans or advances
or material guarantees of indebtedness by the Company or, to the Company&#8217;s knowledge, the Subsidiaries to or for the benefit
of any of their respective officers or directors or any of the members of the families of any of them; and (v) the Company has
not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully (A) a customer
or supplier of the Company or the Subsidiaries to alter the customer&#8217;s or supplier&#8217;s level or type of business with
the Company or the Subsidiaries or (B) a trade journalist or publication to write or publish favorable information about the Company
or the Subsidiaries or any of their respective products or services, and, (vi) neither the Company nor the Subsidiaries nor, to
the Company&#8217;s knowledge, any employee or agent of the Company or the Subsidiaries has made any payment of funds of the Company
or the Subsidiaries or received or retained any funds in violation of any anti-corruption law, rule, or regulation (including,
without limitation, the Foreign Corrupt Practices Act of 1977), which payment, receipt or retention of funds is of a character
required to be disclosed in the Registration Statement or the Prospectus.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">nn.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Status Under the Securities Act.</U> The Company was not and is not an ineligible issuer as defined in Rule 405 under
the Securities Act at the times specified in Rules 164 and 433 under the Securities Act in connection with the offering of the
Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">oo.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Misstatement or Omission in an Issuer Free Writing Prospectus.</U> Each Issuer Free Writing Prospectus, as of its
issue date and as of each Applicable Time (as defined in <U>Section 25</U> below), did not, does not and will not, through the
completion of the Placement or Placements for which such Issuer Free Writing Prospectus is issued, when taken together with the
Registration Statement or the Prospectus, contain any misstatement of a material fact or omit to state a material fact necessary
to prevent the statements made therein from being misleading. The foregoing sentence does not apply to statements in or omissions
from any Issuer Free Writing Prospectus based upon and in conformity with written information furnished to the Company by the Distribution
Agent specifically for use therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">pp.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Conflicts.</U> Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares,
nor the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company with the terms
and provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and provisions of, or has
constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge
or encumbrance upon any property or assets of the Company pursuant to the terms of any contract or other agreement to which the
Company may be bound or to which any of the property or assets of the Company is subject, except (i) such conflicts, breaches or
defaults as may have been waived and (ii) such conflicts, breaches and defaults that would not have a Material Adverse Effect;
nor will such action result (x) in any violation of the provisions of the organizational or governing documents of the Company,
or (y) in any material violation of the provisions of any statute or any order, rule or regulation applicable to the Company or
of any court or of any federal, state or other regulatory authority or other government body having jurisdiction over the Company,
except where such violation would not have a Material Adverse Effect.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">qq.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>OFAC</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Neither the Company nor any Subsidiary (collectively, the &#8220;<U>Entity</U>&#8221;) nor, to the Company&#8217;s knowledge,
any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity (in this
paragraph (pp), &#8220;<U>Person</U>&#8221;) that is, or is owned or controlled by a Person that is:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 1in; text-align: justify; text-indent: 27pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>currently the subject of any sanctions administered or enforced by the U.S. Department of Treasury&#8217;s Office of Foreign
Assets Control (&#8220;<U>OFAC</U>&#8221;), the United Nations Security Council (&#8220;<U>UNSC</U>&#8221;), the European Union
(&#8220;<U>EU</U>&#8221;), or Her Majesty&#8217;s Treasury (&#8220;<U>HMT</U>&#8221;) (collectively, &#8220;<U>Sanctions</U>&#8221;),
nor</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 1in; text-align: justify; text-indent: 27pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>located, organized or resident in a country or territory that is the target of Sanctions.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Entity will not, directly or indirectly, knowingly use the proceeds of the offering, or lend, contribute or otherwise
make available such proceeds to any subsidiary, joint venture partner or other Person:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 1in; text-align: justify; text-indent: 27pt">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>to fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time
of such funding or facilitation, is the target of Sanctions; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 1in; text-align: justify; text-indent: 27pt">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>in any other manner that will result in a violation of Sanctions by the Entity or the Distribution Agent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Entity represents and covenants that, except as detailed in the Prospectus, for the past 5 years, it has not knowingly
engaged in and is not now knowingly engaged in any dealing or transactions with any Person, or in any country or territory, that
at the time of the dealing or transaction is or was the target of Sanctions.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">rr.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Stock Transfer Taxes.</U> On each Settlement Date, all material stock transfer or other taxes (other than income taxes)
which are required to be paid in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or
will have been, fully paid or provided for by the Company and all laws imposing such taxes will be or will have been fully complied
with by the Company in all material respects.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">Any certificate
signed by an officer of the Company and delivered to the Distribution Agent or to counsel for the Distribution Agent pursuant to
or in connection with this Agreement shall be deemed to be a representation and warranty by the Company, as applicable, to the
Distribution Agent as to the matters set forth therein.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Covenants of the Company</U>. The Company covenants and agrees with the Distribution Agent that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Registration Statement Amendments.</U> 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 the Distribution Agent under the Securities Act (including in circumstances
where such requirement may be satisfied pursuant to Rule 172 under the Securities Act) (the &#8220;<U>Prospectus Delivery Period</U>&#8221;)
(i) the Company will notify the Distribution Agent promptly of the time when any subsequent amendment to the Registration Statement,
other than documents incorporated by reference or amendments not related to any Placement, 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 related to the Placement or for additional information related
to the Placement, (ii) the Company will prepare and file with the Commission, promptly upon either of the Distribution Agent&#8217;s
request, any amendments or supplements to the Registration Statement or Prospectus that, in the reasonable opinion of counsel of
the Distribution Agent, is necessary in connection with the distribution of the Placement Shares by the Distribution Agent (provided,
however, that the failure of the Distribution Agent to make such request shall not relieve the Company of any obligation or liability
hereunder, or affect the Distribution Agent&#8217;s right to rely on the representations and warranties made by the Company in
this Agreement; </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">(iii) the Company will not file any amendment or supplement to the Registration Statement or Prospectus relating
to the Placement Shares or a security convertible into the Placement Shares (other than an Incorporated Document) unless a copy
thereof has been submitted to the Distribution Agent within a reasonable period of time before the filing and the Distribution
Agent has not reasonably objected thereto (provided, however, that (A) the failure of the Distribution Agent to make such objection
shall not relieve the Company of any obligation or liability hereunder, or affect the Distribution Agent&#8217;s right to rely
on the representations and warranties made by the Company in this Agreement and (B) the Company has no obligation to provide the
Distribution Agent any advance copy of such filing or to provide the Distribution Agent an opportunity to object to such filing
if the filing does not name the Distribution Agent or does not relate to the transaction herein provided; and provided, further,
that the only remedy the Distribution Agent shall have with respect to the failure by the Company to obtain such consent shall
be to cease making sales under this Agreement) and the Company will furnish to the Distribution Agent 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
to be filed with the Commission as required pursuant to the applicable paragraph of Rule 424(b) of the Securities Act or, in the
case of any document to be incorporated therein by reference, to be filed with the Commission as required pursuant to the Exchange
Act, within the time period prescribed (the determination to file or not file any amendment or supplement with the Commission under
this <U>Section 7(a)</U>, based on the Company&#8217;s reasonable opinion or reasonable objections, shall be made exclusively by
the Company).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Commission Stop Orders.</U> The Company will advise the Distribution Agent, 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 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. The Company will advise
the Distribution Agent promptly after it receives any request by the Commission for any amendments to the Registration Statement
or any amendment or supplements to the Prospectus or any Issuer Free Writing Prospectus or for additional information related to
the offering of the Placement Shares or for additional information related to the Registration Statement, the Prospectus or any
Issuer Free Writing Prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Delivery of Prospectus; Subsequent Changes.</U> During the Prospectus Delivery Period, the Company will 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 all reports and any definitive proxy or information statements required to be filed by the Company with the Commission pursuant
to the Exchange Act. If the Company has omitted any information from the Registration Statement pursuant to Rule 430A under the
Securities Act, it will use its commercially reasonable efforts to comply with the provisions of and make all requisite filings
with the Commission pursuant to said Rule 430A and to notify the Distribution Agent promptly of all such filings. If during the
Prospectus Delivery 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 Prospectus Delivery Period it is necessary to amend or supplement
the Registration Statement or Prospectus to comply with the Securities Act, the Company will promptly notify the Distribution Agent
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;
provided, however, 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 and provided, further, that the only remedy the Distribution Agent shall have with respect
to the failure to make such filing shall be to cease making sales under this Agreement until such amendment or supplement is filed).</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Listing of Placement Shares.</U> During the Prospectus Delivery Period, the Company will use its commercially reasonable
efforts to cause the Placement Shares to be listed on the Exchange and to qualify the Placement Shares for sale under the securities
laws of such jurisdictions in the United States as the Distribution Agent reasonably designates and to continue such qualifications
in effect so long as required for the distribution of the Placement Shares; <I>provided, however</I>, that the Company shall not
be required in connection therewith to qualify as a foreign corporation or dealer in securities, file a general consent to service
of process, or subject itself to taxation in any jurisdiction if it is not otherwise so subject.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Delivery of Registration Statement and Prospectus.</U> The Company will furnish to the Distribution Agent and its counsel
(at the reasonable 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 the Prospectus Delivery Period (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 the Distribution
Agent may from time to time reasonably request and, at the Distribution Agent&#8217;s request, will also furnish copies of the
Prospectus to each exchange or market on which sales of the Placement Shares may be made; <I>provided, however</I>, that the Company
shall not be required to furnish any document (other than the Prospectus) to the Distribution Agent to the extent such document
is available on EDGAR.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Earnings Statement.</U> 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&#8217;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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Use of Proceeds.</U> The Company will use the Net Proceeds as described in the Prospectus in the section entitled &#8220;Use
of Proceeds.&#8221;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notice of Other Sales.</U> Without the prior written consent of the Distribution Agent, the Company will not, directly
or indirectly, offer to sell, sell, contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other
than the Placement Shares offered pursuant to this Agreement) or securities convertible into or exchangeable for Common Stock,
warrants or any rights to purchase or acquire, Common Stock during the period beginning on the date on which any Placement Notice
is delivered to the Distribution Agent hereunder and ending on the third (3rd) Trading Day immediately following the final Settlement
Date with respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or
suspended prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination);
</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">and will not directly or indirectly in any other &#8220;at-the-market&#8221; or continuous equity transaction offer to sell, sell,
contract to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant
to this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire,
Common Stock prior to the termination of this Agreement; <I>provided, however</I>, that such restrictions will not apply in connection
with the Company&#8217;s issuance or sale of (i) Common Stock, options to purchase Common Stock or Common Stock issuable upon the
exercise of options, pursuant to any employee or director stock option or benefits plan, stock ownership plan or dividend reinvestment
plan (but not Common Stock subject to a waiver to exceed plan limits in its dividend reinvestment plan) of the Company whether
now in effect or hereafter implemented; (ii) Common Stock issuable upon conversion of securities or the exercise of warrants, options
or other rights in effect or outstanding, and disclosed in filings by the Company available on EDGAR or otherwise in writing to
the Distribution Agent, (iii) 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 or other investors
conducted in a manner so as not to be integrated with the offering of Common Stock hereby and (iv) Common Stock in connection with
any acquisition, strategic investment or other similar transaction (including any joint venture, strategic alliance or partnership).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Change of Circumstances.</U> The Company will, at any time during the pendency of a Placement Notice advise the Distribution
Agent promptly after it shall 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 required to be provided to the Distribution Agent
pursuant to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Due Diligence Cooperation.</U> During the term of this Agreement, the Company will cooperate with any reasonable due
diligence review conducted by the Distribution Agent or its representatives 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&#8217;s principal offices, as the Distribution Agent may reasonably request.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">k.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Required Filings Relating to Placement of Placement Shares.</U> The Company agrees that on such dates as the Securities
Act shall require, the Company will (i) file a prospectus supplement with the Commission under the applicable paragraph of Rule
424(b) under the Securities Act (each and every date a filing under Rule 424(b) is made, a &#8220;<U>Filing Date</U>&#8221;), which
prospectus supplement will set forth, within the relevant period, the amount of Placement Shares sold through the Distribution
Agent, the Net Proceeds to the Company and the compensation payable by the Company to the Distribution Agent 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.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">l.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representation Dates; Certificate.</U> Each time during the term of this Agreement that the Company:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(i)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>amends or supplements (other than a prospectus supplement relating solely to an offering of securities other than the Placement
Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means of a post-effective amendment, sticker,
or supplement but not by means of incorporation of documents by reference into the Registration Statement or the Prospectus relating
to the Placement Shares;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(ii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>files an annual report on Form 10-K under the Exchange Act (including any Form 10-K/A containing amended audited financial
information or a material amendment to the previously filed Form 10-K);</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(iii)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>files its quarterly reports on Form 10-Q under the Exchange Act; or</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0; text-align: justify; text-indent: 0.7in">(iv)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>files a current report on Form 8-K containing amended financial information (other than information &#8220;furnished&#8221;
pursuant to Items 2.02 or 7.01 of Form 8-K or to provide disclosure pursuant to Item 8.01 of Form 8-K relating to the reclassification
of certain properties as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144) under
the Exchange Act;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0.05in 0 0.5in; text-align: justify">(Each date of filing of
one or more of the documents referred to in clauses (i) through (iv) shall be a &#8220;<U>Representation Date</U>.&#8221;)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">the Company shall furnish the
Distribution Agent (but in the case of clause (iv) above only if the Distribution Agent reasonably determines that the information
contained in such Form 8-K is material) with a certificate, in the form attached hereto as <U>Exhibit 7(1)</U>. The requirement
to provide a certificate under this <U>Section 7(1)</U> shall be 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 on which the Company files its annual report on Form 10-K. Notwithstanding the foregoing, (i) upon the delivery of the first
Placement Notice hereunder and (ii) if the Company subsequently decides to sell Placement Shares following a Representation Date
when the Company relied on such waiver and did not provide the Distribution Agent with a certificate under this <U>Section 7(1)</U>,
then before the Distribution Agent sells any Placement Shares, the Company shall provide the Distribution Agent with a certificate,
in the form attached hereto as <U>Exhibit 7(1)</U>, dated the date of the Placement Notice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">m.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Legal Opinion.</U> On or prior to the date of the first Placement Notice given hereunder the Company shall cause to be
furnished to the Distribution Agent written opinions of McDonald Carano Wilson LLP, Nevada counsel to the Company, and written
opinions and a negative assurance letter of Shearman &amp; Sterling LLP (&#8220;<U>Company Counsel</U>&#8221;), or other counsel
reasonably satisfactory to the Distribution Agent, each in form and substance reasonably satisfactory to the Distribution Agent.
Thereafter, within five (5) Trading Days of each Representation Date with respect to which the Company is obligated to deliver
a certificate in the form attached hereto as <U>Exhibit 7(l)</U> for which no waiver is applicable, and not more than once per
calendar quarter, the Company shall cause to be furnished to the Distribution Agent a negative assurance letter of Company Counsel
in form and substance reasonably satisfactory to the Distribution Agent.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">n.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Comfort Letter.</U> On or prior to the fourth Trading Day following the date hereof and within five (5) Trading Days
after each subsequent Representation Date, other than pursuant to <U>Section 7(l)(iii)</U>, the Company shall cause its independent
accountants to furnish the Distribution Agent letters (the &#8220;<U>Comfort Letters</U>&#8221;), dated the date the Comfort Letter
is delivered, which shall meet the requirements set forth in this <U>Section 7(n)</U>. The Comfort Letter from the Company&#8217;s
independent accountants shall be in a form and substance reasonably satisfactory to the Distribution Agent, (i) confirming that
they are an independent 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&#8217; &#8220;comfort letters&#8221; to underwriters in connection with registered public offerings (the first such
letter, the &#8220;<U>Initial Comfort Letter</U>&#8221;) 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">o.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Market Activities.</U> The Company will not, directly or indirectly, (i) take any action designed to cause or result
in, or that constitutes or would constitute, the stabilization or manipulation of the price of any security of the Company to facilitate
the sale or resale of Common Stock or (ii) sell, bid for, or purchase Common Stock in violation of Regulation M, or pay anyone
any compensation for soliciting purchases of the Placement Shares other than the Distribution Agent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">p.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Investment Company Act.</U> 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 &#8220;investment company,&#8221; as such term
is defined in the Investment Company Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">q.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Offer to Sell. </U>Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Distribution
Agent in its capacity as agent hereunder pursuant to <U>Section 23</U>, neither the Distribution Agent nor the Company (including
its agents and representatives, other than the Distribution Agent in its capacity as such) will make, use, prepare, authorize,
approve or refer to any written communication (as defined in Rule 405), required to be filed with the Commission, that constitutes
an offer to sell or solicitation of an offer to buy Placement Shares hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">r.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Sarbanes-Oxley Act.</U> The Company will maintain and keep accurate books and records reflecting its assets and maintain
internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with GAAP and including those policies and procedures
that (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions
of the assets of the Company, (ii) provide reasonable assurance that transactions are recorded as necessary to permit the preparation
of the Company&#8217;s consolidated financial statements in accordance with GAAP, (iii) that receipts and expenditures of the Company
are being made only in accordance with management&#8217;s and the Company&#8217;s directors&#8217; authorization, and (iv) provide
reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company&#8217;s
assets that could have a material effect on its financial statements. The Company will maintain disclosure controls and procedures
that comply with the requirements of the Exchange Act.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 0.55in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Covenants of the Distribution Agent.</U> The Distribution Agent represents and warrants that it is
duly registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which
the Placement Shares will be offered and sold, except such states in which the Distribution Agent is exempt from registration or
such registration is not otherwise required. The Distribution Agent shall continue, for the term of this Agreement, to be duly
registered as a broker-dealer under FINRA, the Exchange Act and the applicable statutes and regulations of each state in which
the Placement Shares will be offered and sold, except such states in which it is exempt from registration or such registration
is not otherwise required, during the term of this Agreement. The Distribution Agent shall comply with all applicable law and regulations,
including but not limited to Regulation M, in connection with the transactions contemplated by this Agreement, including the issuance
and sale through the Distribution Agent of the Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 0.55in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Payment of Expenses.</U> The Company will pay all expenses incident to the performance of its obligations under this
Agreement, including (i) the preparation, filing, including any fees required by the Commission, and printing of the Registration
Statement (including financial statements and exhibits) as originally filed and of each amendment and supplement thereto and each
Free Writing Prospectus, in such number as the Distribution Agent shall deem reasonably necessary, (ii) the printing and delivery
to the Distribution Agent of this Agreement and such other documents as may be required in connection with the offering, purchase,
sale, issuance or delivery of the Placement Shares, (iii) the preparation, issuance and delivery of the certificates, if any, for
the Placement Shares to the Distribution Agent, including any stock or other transfer taxes and any capital duties, stamp duties
or other duties or taxes payable upon the sale, issuance or delivery of the Placement Shares to the Distribution Agent, (iv) the
fees and disbursements of the counsel, accountants and other advisors to the Company, (v) the reasonable and documented out-of-pocket
fees and disbursements of counsel to the Distribution Agent up to $50,000; (vi) the fees and expenses of the transfer agent and
registrar for the Common Stock, (vii) the filing fees incident to any review by FINRA of the terms of the sale of the Placement
Shares, and (viii) the fees and expenses incurred in connection with the listing of the Placement Shares on the Exchange.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">10.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Conditions to Distribution Agent&#8217;s Obligations.</U> The obligations of the Distribution Agent 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 (other than those representations and warranties made as of a specified date or time), to the due performance in all material
respects by the Company of its obligations hereunder, to the completion by the Distribution Agent of a due diligence review satisfactory
to it in its reasonable judgment, and to the continuing reasonable satisfaction (or waiver by the Distribution Agent in its sole
discretion) of the following additional conditions:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Registration Statement Effective.</U> The Registration Statement shall have become effective and shall be available for
the sale of all Placement Shares contemplated to be issued by any Placement Notice.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Material Notices.</U> None of the following events shall have occurred and be continuing: (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) 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 receipt by the Company of notification
of 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 receipt by
the Company of notification of the initiation of, or a threat to initiate, 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 Incorporated
Document untrue in any material respect or that requires the making of any changes in the Registration Statement, the Prospectus
or any material Incorporated Document 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 or any material Incorporated Document, 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Misstatement or Material Omission.</U> The Distribution Agent shall have advised the Company that the Registration
Statement or Prospectus, or any amendment or supplement thereto, contains an untrue statement of fact that in the Distribution
Agent&#8217;s reasonable opinion is material, or omits to state a fact that in the Distribution Agent&#8217;s reasonable opinion
is material and is required to be stated therein or is necessary to make the statements therein not misleading.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Material Changes.</U> Except as contemplated in the Prospectus, or disclosed in the Company&#8217;s reports filed with
the Commission, there shall not have been any Material Adverse Effect, or any development that would cause a Material Adverse Effect
as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in the manner
contemplated in the Prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Legal Opinion.</U> The Distribution Agent shall have received the opinion and negative assurance letter of Company Counsel
required to be delivered pursuant to <U>Section 7(m)</U> on or before the date on which such delivery of such opinion and negative
assurance letter are required pursuant to <U>Section 7(m)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Comfort Letter.</U> The Distribution Agent shall have received the Comfort Letter required to be delivered pursuant <U>Section
7(n)</U> on or before the date on which such delivery of such letter is required pursuant to <U>Section 7(n)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">g.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representation Certificate.</U> The Distribution Agent shall have received the certificate required to be delivered pursuant
to <U>Section 7(1)</U> on or before the date on which delivery of such certificate is required pursuant to <U>Section 7(1)</U>.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">h.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Suspension.</U> Trading in the Common Stock shall not have been suspended on the Exchange and the Common Stock shall
not have been delisted from the Exchange.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">i.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Other Materials.</U> On each date on which the Company is required to deliver a certificate pursuant to <U>Section 7(1)</U>,
the Company shall have furnished to the Distribution Agent such appropriate further information, certificates and documents as
the Distribution Agent may reasonably request and which are usually and customarily furnished by an issuer of securities in connection
with a securities offering of the type contemplated hereby. All such opinions, certificates, letters and other documents will be
in compliance with the provisions hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">j.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Securities Act Filings Made.</U> 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">k.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Approval for Listing.</U> The Placement Shares shall either have been approved for listing on the Exchange, subject only
to notice of issuance, or the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or
prior to, the issuance of any Placement Notice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">l.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>No Termination Event.</U> There shall not have occurred any event that would permit the Distribution Agent to terminate
this Agreement pursuant to <U>Section 13(a)</U>.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Indemnification and Contribution.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0 0 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Company
Indemnification.</U> The Company agrees to indemnify and hold harmless the Distribution Agent, its partners,
members, directors, officers and employees and each person, if any, who controls the Distribution Agent within the meaning of Section
15 of the Securities Act or Section 20 of the Exchange Act as follows:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0 0; text-align: justify; text-indent: 1.55in"><FONT STYLE="font-size: 11.5pt; letter-spacing: 0.4pt">(i)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: 0.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of
or based upon any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any
amendment thereto), or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary
to make the statements therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material
fact included in any related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or the
omission or alleged omission therefrom of a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 16.2pt 0 0; text-align: justify; text-indent: 1.55in"><FONT STYLE="font-size: 11.5pt; letter-spacing: 0.4pt">(ii)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: 0.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the extent
of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission; provided that (subject to <U>Section 11(d)</U> below) any such settlement is effected with the written
consent of the Company, which consent shall not unreasonably be delayed or withheld; and</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: justify; text-indent: 1.55in"><FONT STYLE="font-size: 11.5pt; letter-spacing: 0.4pt">(iii)</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: 0.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>against any and all expense whatsoever, as incurred (including the reasonable and documented out-of-pocket fees and disbursements
of counsel), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding
by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission,
or any such alleged untrue statement or omission, to the extent that any such expense is not paid under (i) or (ii) above,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0 0; text-align: justify"><I>provided, however</I>, that this
indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement
or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with written information furnished
to the Company by the Distribution Agent expressly for use in the Registration Statement (or any amendment thereto), or in any
related Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification
by the Distribution Agent.</U> The Distribution Agent agrees to indemnify and hold harmless the Company and its directors and each
officer of the Company who signed the Registration Statement, and each person, if any, who (i) controls the Company within the
meaning of Section 15 of the Securities Act 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 whatsoever described in the indemnity contained
in <U>Section 11(a)</U>, 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 in any related Issuer Free Writing Prospectus or the
Prospectus (or any amendment or supplement thereto) in reliance upon and in conformity with information furnished to the Company
in writing by such Distribution Agent expressly for use therein; provided, however, that in no case shall the Distribution Agent
be responsible for any amount in excess of the fee paid to the Distribution Agent applicable to the Placement Shares and paid hereunder.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Procedure.</U>
Any party that proposes to assert the right to be indemnified under this <U>Section 11</U> 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 <U>Section 11</U>, notify each such indemnifying party 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 <U>Section 11</U> and (ii) any liability that it may have to any
indemnified party under the foregoing provisions of this <U>Section 11</U> 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, </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify">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
of interest 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 and documented out-of-pocket
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 related proceedings in the same jurisdiction,
be liable for the reasonable and documented out-of-pocket 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 reasonable and documented
out-of-pocket 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 in reasonable detail. An indemnifying party
will not, in any event, be liable for any settlement of any action or claim effected without its written consent. 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 <U>Section 11</U> (whether
or not any indemnified party is a party thereto), unless such settlement, compromise or consent (1) includes an unconditional release
of each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (2) does not
include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Contribution.</U>
In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing
paragraphs of this <U>Section 11</U> is applicable in accordance with its terms but for any reason is held to be unavailable from
the Company or the Distribution Agent, the Company and the Distribution Agent 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 the Distribution Agent, such as persons who control the Company within the meaning of the Securities
Act or the Exchange Act, 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 the Distribution Agent may be subject in such proportion as shall be appropriate
to reflect the relative benefits</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify"> received by the Company on the one hand and the Distribution Agent on the other hand. The relative
benefits received by the Company on the one hand and the Distribution Agent 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 the Distribution Agent (before deducting expenses) from the sale of Placement Shares
on behalf of the Company; <U>provided</U>, <U>however</U>, that in no case shall the Distribution Agent be responsible for any
amounts in excess of the fee applicable to the Placement Shares and paid hereunder. 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 the Distribution Agent, on the other hand, 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 the Distribution Agent, 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 the Distribution Agent agree that it would not
be just and equitable if contributions pursuant to this <U>Section 11(d)</U> 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 <U>Section 11(d) </U>shall be deemed to include, for the purpose of this <U>Section 11(d)</U>, 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 <U>Section 11(c)</U> hereof. Notwithstanding the foregoing provisions of this <U>Section 11(d)</U>,
the Distribution Agent 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 the Securities Act) will be
entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this <U>Section
11(d)</U>, any person who controls a party to this Agreement within the meaning of the Securities Act or the Exchange Act, and
any officers, directors, partners, employees or agents of the Distribution Agent, will have the same rights to contribution as
that party, and each officer who signed the Registration Statement and director of the Company 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 which a claim for contribution may be made under this <U>Section
11(d)</U>, 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 <U>Section
11(d)</U> 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 <U>Section
11(c)</U> 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 <U>Section 11(c)</U> hereof.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Representations and Agreements to Survive Delivery.</U> The indemnity and contribution agreements contained in Section
11 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 the Distribution Agent,
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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Termination.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Distribution Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1)
if there has been, since the time of execution of this Agreement or since the date as of which information is given in the Prospectus,
any Material Adverse Effect, or any development that would have a Material Adverse Effect that, in the sole judgment of the Distribution
Agent, is material and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for
the sale of the Placement Shares, (2) if there has occurred any material adverse change in the financial markets in the United
States or the international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or
any change or development involving a prospective change in national or international political, financial or economic conditions,
in each case the effect of which is such as to make it, in the judgment of the Distribution Agent, impracticable or inadvisable
to market the Placement Shares or to enforce contracts for the sale of the Placement Shares, (3) if trading in the Common Stock
has been suspended or limited by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or
limited, or minimum prices for trading have been fixed on the Exchange, (4) if any suspension of trading of any securities of the
Company on any exchange or in the over-the-counter market shall have occurred and be continuing, (5) if a major disruption of securities
settlements or clearance services in the United States shall have occurred and be continuing, or (6) if a banking moratorium has
been declared by either U.S. Federal or New York authorities. Any such termination shall be without liability of any party to any
other party except that the provisions of <U>Section</U> 9 (Payment of Expenses), <U>Section 11</U> (Indemnification and Contribution),
<U>Section 12</U> (Representations and Agreements to Survive Delivery), <U>Section 18</U> (Governing Law and Time; Waiver of Jury
Trial) and <U>Section 19</U> (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination.
If the Distribution Agent elects to terminate this Agreement as provided in this Section 13(a), the Distribution Agent shall provide
the required notice as specified in Section 14 (Notices).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company shall have the right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement in
its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of <U>Section 9</U> (Payment of Expenses), <U>Section 11</U> (Indemnification and
Contribution), <U>Section 12</U> (Representations and Agreements to Survive Delivery), <U>Section 18</U> (Governing Law and Time;
Waiver of Jury Trial) and <U>Section 19</U> (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding
such termination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Distribution Agent shall have the right, by giving ten (10) days notice as hereinafter specified to terminate this Agreement
in its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of <U>Section 9</U> (Payment of Expenses), <U>Section 11</U> (Indemnification and
Contribution), <U>Section 12</U> (Representations and Agreements to Survive Delivery), <U>Section 18</U> (Governing Law and Time;
Waiver of Jury Trial) and <U>Section 19</U> (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding
such termination.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Unless earlier terminated pursuant to this <U>Section 13</U>, this Agreement shall automatically terminate upon the issuance
and sale of all of the Placement Shares through the Distribution Agent on the terms and subject to the conditions set forth herein
except that the provisions of <U>Section 9</U> (Payment of Expenses), <U>Section 11</U> (Indemnification and Contribution), <U>Section
12</U> (Representations and Agreements to Survive Delivery), <U>Section 18</U> (Governing Law and Time; Waiver of Jury Trial) and
<U>Section 19</U> (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding such termination.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>This Agreement shall remain in full force and effect unless terminated pursuant to <U>Sections 13(a)</U>, <U>(b</U>), <U>(c</U>),
or <U>(d)</U> above or otherwise by mutual agreement of the parties; <I>provided, however</I>, that any such termination by mutual
agreement shall in all cases be deemed to provide that <U>Section 9</U> (Payment of Expenses), <U>Section 11</U> (Indemnification
and Contribution), <U>Section 12</U> (Representations and Agreements to Survive Delivery), <U>Section 18</U> (Governing Law and
Time; Waiver of Jury Trial) and <U>Section 19</U> (Consent to Jurisdiction) shall remain in full force and effect. Upon termination
of this Agreement, the Company shall not have any liability to the Distribution Agent for any discount, commission or other compensation
with respect to any Placement Shares not otherwise sold by the Distribution Agent under this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">f.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Any termination of this Agreement shall be effective on the date specified in such notice of termination; <I>provided, however</I>,
that such termination shall not be effective until the close of business on the date of receipt of such notice by the Distribution
Agent 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Notices.</U> All notices or other communications required or permitted to be given by any party to any other party pursuant
to the terms of this Agreement shall be in writing, unless otherwise specified, and if sent to the Distribution Agent, shall be
delivered to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/87% Times New Roman, Times, Serif; margin: 0.2in 0 0 1in">&nbsp;</P>

<P STYLE="font: 12pt/87% Times New Roman, Times, Serif; margin: 0.2in 0 0 1in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">H.C. Wainwright &amp; Co., LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">430 Park Avenue</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">New York, New York 10022</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in">e-mail: Notices@hcwco.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">with a copy to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">Ellenoff Grossman &amp; Schole LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">1345 Avenue of the Americas</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">New York, New York 10105</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">e-mail: capmkts@egsllp.com</P>
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<P STYLE="font: 12pt/110% Times New Roman, Times, Serif; margin: 12.6pt 0 0">and if to the Company, shall be delivered to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Aemetis, Inc.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">20400 Stevens Creek
Blvd.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Suite 700</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Cupertino, CA 95014</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Attention: Todd Waltz,
CFO&#9;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Telephone: (408) 213-0940</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in"><FONT STYLE="letter-spacing: 0.1pt">Email:</FONT> todd.waltz@aemetis.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0">with a copy to:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Shearman &amp; Sterling LLP</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">1460
El Camino Real, Floor 2</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Menlo
Park, CA 94025</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Attention:
Christopher Forrester</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Telephone:
(650) 838-3772</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"><FONT STYLE="letter-spacing: 0.1pt">Email:
Chris.Forrester@Shearman.com</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0; text-align: justify; text-indent: 0.5in">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. Each such notice or other communication shall be deemed given (i) when delivered personally, by email, or by
verifiable facsimile transmission on or before 4:30 p.m., New York City time, on a Business Day 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 Day actually received if deposited in the U.S. mail (certified or registered mail, return receipt
requested, postage prepaid). For purposes of this Agreement, &#8220;<U>Business Day</U>&#8221; shall mean any day on which the
Exchange and commercial banks in the City of New York are open for business.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 19.8pt 0 0; text-align: justify; text-indent: 0.5in">An electronic
communication (&#8220;<U>Electronic Notice</U>&#8221;) shall be deemed written notice for purposes of this <U>Section 14</U> if
sent to the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received
at the time the party sending Electronic Notice receives confirmation of receipt by the receiving party. Any party receiving Electronic
Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (&#8220;<U>Nonelectronic Notice</U>&#8221;)
which shall be sent to the requesting party within ten (10) days of receipt of the written request for Nonelectronic Notice.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Successors and Assigns.</U> This Agreement shall inure to the benefit of and be binding upon the Company and the Distribution
Agent and their respective successors and the affiliates, controlling persons, officers and directors referred to in <U>Section
11</U> hereof. References to any of the parties contained in this Agreement shall be deemed to include the successors and permitted
assigns of such party. 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.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Adjustments for Stock Splits.</U> The parties acknowledge and agree that all share-related numbers contained in this
Agreement shall be adjusted to take into account any share consolidation, stock split, stock dividend, corporate domestication
or similar event effected with respect to the Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Entire Agreement; Amendment; Severability.</U> 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. Neither this Agreement
nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Distribution Agent.
In the event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid,
illegal or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect
to the fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall
be construed as if such invalid, illegal or unenforceable 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.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">18.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>GOVERNING LAW AND TIME; WAIVER OF JURY TRIAL.</U> THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK
CITY TIME. THE COMPANY AND THE DISTRIBUTION AGENT EACH HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">19.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>CONSENT TO JURISDICTION.</U> 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. 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. NOTHING CONTAINED HEREIN
SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">20.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Use of Information.</U> The Distribution Agent may not use any information gained in connection with this Agreement and
the transactions contemplated by this Agreement, including due diligence, to advise any party with respect to transactions not
expressly approved by the Company.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">21.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Counterparts.</U> 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 transmission or email of a .pdf attachment.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">22.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Effect of Headings.</U> The section and Exhibit headings herein are for convenience only and shall not affect the construction
hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">23.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Permitted Free Writing Prospectuses.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0.05in 0 0; text-align: justify; text-indent: 0.5in">&#9;The
Company represents, warrants and agrees that, unless it obtains the prior consent of the Distribution Agent, and the Distribution
Agent represents, warrants and agrees that, unless it obtains the prior consent of the Company, it has not made and will not make
any offer relating to the Placement Shares that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute
a &#8220;free writing prospectus,&#8221; as defined in Rule 405, required to be filed with the Commission. Any such free writing
prospectus consented to by the Distribution Agent or by the Company, as the case may be, is hereinafter referred to as a &#8220;Permitted
Free Writing Prospectus.&#8221; The Company represents and warrants that it has treated and agrees that it will treat each Permitted
Free Writing Prospectus as an &#8220;issuer free writing prospectus,&#8221; as defined in Rule 433, and has complied and will comply
with the requirements of Rule 433 applicable to any Permitted Free Writing Prospectus, including timely filing with the Commission
where required, legending and record keeping. For the purposes of clarity, the parties hereto agree that all free writing prospectuses,
if any, listed in <U>Exhibit 23</U> hereto are Permitted Free Writing Prospectuses.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">24.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Absence of Fiduciary Relationship.</U> The Company acknowledges and agrees that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">a.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Distribution Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection
with each transaction contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory
relationship between the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees
or any other party, on the one hand, and the Distribution Agent, on the other hand, has been or will be created in respect of any
of the transactions contemplated by this Agreement, irrespective of whether or not the Distribution Agent has advised or is advising
the Company on other matters, and the Distribution Agent does not have any obligation to the Company with respect to the transactions
contemplated by this Agreement except the obligations expressly set forth in this Agreement;</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">b.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>it is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions
contemplated by this Agreement;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">c.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>the Distribution Agent has not provided any legal, accounting, regulatory or tax advice with respect to the transactions
contemplated by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has
deemed appropriate;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">d.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>it is aware that the Distribution Agent and its affiliates are engaged in a broad range of transactions which may involve
interests that differ from those of the Company and the Distribution Agent has no obligation to disclose such interests and transactions
to the Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1in">e.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>it waives, to the fullest extent permitted by law, any claims it may have against the Distribution Agent 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 the
Distribution Agent shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect of
such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company, employees
or creditors of Company, other than in respect of the Distribution Agent&#8217;s obligations under this Agreement and to keep information
provided by the Company to the Distribution Agent and its counsel confidential to the extent not otherwise publicly-available.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0.9pt; text-align: justify; text-indent: 0.55in">25.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Definitions.</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.05in 0 0; text-align: justify; text-indent: 1.5in">As used
in this Agreement, the following terms have the respective meanings set forth below:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0.05in 0 0; text-align: justify; text-indent: 0.5in">&#8220;<U>Applicable
Time</U>&#8221; means (i) each Representation Date and (ii) the time of each sale of any Placement Shares pursuant to this Agreement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0.05in 0 0; text-align: justify; text-indent: 0.5in">&#8220;<U>Issuer
Free Writing Prospectus</U>&#8221; means any &#8220;issuer free writing prospectus,&#8221; as defined in Rule 433, relating to
the Placement Shares that (1) is required to be filed with the Commission by the Company, (2) is a &#8220;road show&#8221; that
is a &#8220;written communication&#8221; within the meaning of Rule 433(d)(8)(i) whether or not required to be filed with the Commission,
or (3) is exempt from filing pursuant to Rule 433(d)(5)(i) because it contains a description of the Placement Shares or of the
offering that does not reflect the final terms, 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&#8217;s records pursuant to Rule 433(g) under the Securities Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 16.2pt 0.45in 0 0; text-indent: 0.5in">&#8220;<U>Rule 172</U>,&#8221;
&#8220;<U>Rule 405</U>,&#8221; &#8220;<U>Rule 415</U>,&#8221; &#8220;<U>Rule 424</U>,&#8221; &#8220;<U>Rule 424(b)</U>,&#8221;
&#8220;<U>Rule 430B</U>,&#8221; and &#8220;<U>Rule 433</U>&#8221; refer to such rules under the Securities Act.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.2in 0.05in 0 0; text-align: justify; text-indent: 0.5in">All references
in this Agreement to financial statements and schedules and other information that is &#8220;contained,&#8221; &#8220;included&#8221;
or &#8220;stated&#8221; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed
to mean and include all such financial statements and schedules and other information that is incorporated by reference in the
Registration Statement or the Prospectus, as the case may be.</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.25in 0.05in 37.8pt 0; text-align: justify; text-indent: 0.5in">All
references in this Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing
shall be deemed to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer
Free Writing Prospectus (other than any Issuer Free Writing Prospectuses that, pursuant to Rule 433, are not required to be filed
with the Commission) shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references
in this Agreement to &#8220;supplements&#8221; to the Prospectus shall include, without limitation, any supplements, &#8220;wrappers&#8221;
or similar materials prepared in connection with any offering, sale or private placement of any Placement Shares by the Distribution
Agent outside of the United States.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">[Remainder of the page intentionally left blank]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">If the foregoing correctly sets forth the understanding between
the Company and the Distribution Agent, please so indicate in the space provided below for that purpose, whereupon this letter
shall constitute a binding agreement between the Company and the Distribution Agent.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0 2.5in; text-indent: 0.5in">Very truly yours,</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0 2.7in; text-indent: 0.5in"><B>AEMETIS, INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0 2.5in; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in">By: <U>/s/ Eric McAfee &nbsp; &nbsp; &nbsp;&nbsp;
&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in; text-indent: 0.29in">Name: Eric McAfee</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in; text-indent: 0.29in">Title: &nbsp;&nbsp;Chief
Executive Officer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 52.2pt 0.3in 0 3in"><B>ACCEPTED as of the date first-above written:</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in"><B>H.C. WAINWRIGHT &amp; CO., LLC</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">&#9;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in">By: <U>/s/ Edward D. Silvera &nbsp; &nbsp; &nbsp;&nbsp;&nbsp; &nbsp;</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in; text-indent: 0.29in">Name: Edward D. Silvera</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.2in; text-indent: 0.29in">Title: &nbsp;&nbsp;Chief Operating Officer</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3in">&nbsp;</P>
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<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0.2in 0 19.8pt"><B>SCHEDULE 1</B></P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0.2in 0 19.8pt; text-align: center">______________________________</P>


<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0.2in 0 19.8pt; text-align: center">FORM
OF PLACEMENT NOTICE</P>

<P STYLE="font: 12pt/85% Times New Roman, Times, Serif; margin: 0.1in 0 19.8pt; text-align: center">______________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.55in 0 0 0.5in">From:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Aemetis, Inc.</P>

<P STYLE="font: 12pt/87% Times New Roman, Times, Serif; margin: 0.2in 0 0 0.5in">To:&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[&#8226;]</P>

<P STYLE="font: 12pt/87% Times New Roman, Times, Serif; margin: 0.2in 0 0 0.5in">Attention: &#9;[&#8226;]</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0 0 0.5in">Subject:&#9; &nbsp;&nbsp;&nbsp;At Market Issuance--Placement Notice</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/86% Times New Roman, Times, Serif; margin: 0.2in 0 0 0.5in">Gentlemen:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0.05in 0 0; text-align: justify; text-indent: 0.5in">Pursuant
to the terms and subject to the conditions contained in the At Market Issuance Sales Agreement between Aemetis, Inc., a Nevada
corporation (the &#8220;<U>Company</U>&#8221;), and H.C. Wainwright &amp; Co., LLC (&#8220;<U>Wainwright</U>&#8221;) dated January
26, 2021, the Company hereby requests that Wainwright sell up to [_______] shares of the Company&#8217;s Common Stock, $0.001 par
value per share, at a minimum market price of $&#9;per share, during the time period beginning [month, day, time] and ending [month,
day, time].</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>SCHEDULE 2</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: center"><B>__________________________</B></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Compensation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"><B>__________________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0.05in 0 0; text-align: justify; text-indent: 0.5in">The Company
shall pay to the Distribution Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to
3% of the gross proceeds from each sale of Placement Shares.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>SCHEDULE 3</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>________________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Notice Parties</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>________________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><U>The Company</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">with a copy to Chris.Forrester@Shearman.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><U>HCW</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">with a copy to capmkts@egsllp.com</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>SCHEDULE 6(g)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>________________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Subsidiaries</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>________________________</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Biochemicals, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis International, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">International Biofuels Ltd (Mauritius)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Universal Biofuels Private Limited (India)</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Technologies, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Biofuels, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Biogas, LLC</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Energy Enzymes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AE Advanced Fuels, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Advanced Fuels Keyes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Advanced Biorefinery Keyes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Advanced Products Keyes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Facility Keyes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Advanced Fuels, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Property Keyes, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Americas, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Riverbank, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Properties Riverbank, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Health Products, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis Advanced Products Riverbank, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">AE Biofuels, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Edeniq Acquisition Corp.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Goodland Advanced Fuels, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt/185% Times New Roman, Times, Serif; margin: 0 0 0 0.45in; text-align: center"><B><U>EXHIBIT 7(1)<BR>
</U>Form of Representation Date Certificate </B></P>

<P STYLE="font: 12pt/185% Times New Roman, Times, Serif; margin: 0 0 0 0.45in; text-align: center"><B>___________, 20___</B></P>

<P STYLE="font: 12pt/95% Times New Roman, Times, Serif; margin: 16.2pt 0 0; text-align: justify">This Representation Date Certificate
(this &#8220;<U>Certificate</U>&#8221;) is executed and delivered in connection with <U>Section 7(1)</U> of the At Market Issuance
Sales Agreement (the &#8220;<U>Agreement</U>&#8221;), dated January 26, 2021, and entered into between Aemetis, Inc. (the &#8220;<U>Company</U>&#8221;)
and H.C. Wainwright &amp; Co., LLC. All capitalized terms used but not defined herein shall have the meanings given to such terms
in the Agreement.</P>

<P STYLE="font: 12pt/95% Times New Roman, Times, Serif; margin: 9pt 0 0; text-align: justify; text-indent: 0.5in">The Company hereby
certifies as follows:</P>

<P STYLE="font: 12pt/93% Times New Roman, Times, Serif; margin: 0.15in 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Garamond, Times, Serif; font-size: 13pt; letter-spacing: -0.15pt; line-height: 93%">1.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.15pt; line-height: 93%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The representations and warranties of the Company in <U>Section&nbsp;6</U> of the Agreement (A)&nbsp;to the extent such
representations and warranties are subject to qualifications and exceptions contained therein relating to materiality or Material
Adverse Effect, 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)&nbsp;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.</P>

<P STYLE="font: 12pt/95% Times New Roman, Times, Serif; margin: 0.15in 0 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="font-family: Garamond, Times, Serif; font-size: 13pt; letter-spacing: -0.15pt; line-height: 95%">2.</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 7pt; letter-spacing: -0.15pt; line-height: 95%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company has complied with all agreements and satisfied all conditions on its part to be performed or satisfied pursuant
to the Agreement at or prior to the date hereof.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.15in 0 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.15in 0.15in 0 0; text-align: right">The undersigned has executed
this Officer&#8217;s Certificate as of the date first written above.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12.6pt 0 0 3.6in"><B>AEMETIS, INC.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0.35in 0 0 3.6in">By:__________________________________&#9;</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 23.4pt 0.25in 0 3.6in">Name:
_______________________________&#9;<BR>
Title: ________________________________</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>EXHIBIT 23</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Permitted Issuer Free Writing Prospectuses</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">None.</P>

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

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

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

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

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

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



<P STYLE="margin: 0">&nbsp;</P>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>ss190754_ex0501.htm
<DESCRIPTION>OPINION OF NEVADA LEGAL COUNSEL
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="text-align: center; font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 45px; width: 325px"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

<P STYLE="text-align: right; font: 12pt Times New Roman, Times, Serif; margin: 0"><B>Reply to Las Vegas Office</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">January 26, 2021</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Aemetis, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">20400 Stevens Creek Blvd., #700</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Cupertino, California 95014</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 9pt"><I>&nbsp;</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Gentlemen:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have acted as
counsel to Aemetis, Inc., a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;), in connection with the issuance and sale,
from time to time, of shares of common stock of the Company, $0.001 par value per share, having an aggregate sale price of up
to $84,000,000 (the &ldquo;<U>Placement Shares</U>&rdquo;), pursuant to the At the Market Issuance Sales Agreement, dated
January 26, 2021 (the &ldquo;<U>Agreement</U>&rdquo;), between the Company and H.C. Wainwright &amp; Co., LLC. The Placement Shares will be issued pursuant to the Company&rsquo;s registration statement on Form S-3
(<FONT STYLE="background-color: white">Registration&nbsp;No.&nbsp;333-</FONT>248492), as filed with the Securities and
Exchange Commission on August 28, 2020 (at the time it became effective, the &ldquo;<U>Registration Statement</U>&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;) and the related prospectus dated
August 28, 2020 and prospectus supplement dated January 26, 2021 (collectively, the &ldquo;<U>Prospectus</U>&rdquo;).</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have examined&nbsp;the
Registration Statement,&nbsp;the Prospectus and other instruments, certificates, records and documents, matters of fact and questions
of law that we have deemed necessary for the purposes of this opinion.&nbsp;In our examination, we have assumed the authenticity
of documents submitted to us as originals and the genuineness of all signatures, the conformity to the original documents of all
documents submitted to us as copies, and the truth, accuracy and completeness of the information, representations and warranties
contained in the instruments, certificates, records and documents we have reviewed.</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0 0 0 9pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Based upon the foregoing,
we are of the opinion that the Placement Shares have been duly authorized by all necessary corporate action on the part of the
Company and, when issued in accordance with the terms of the Agreement and the Registration Statement, the Placement Shares will
be validly issued, and the Placement Shares will be fully paid and nonassessable. We consent to the use of this opinion as an exhibit
to the Company&rsquo;s Current Report on Form 8-K to be filed on January 27, 2021.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3.5in"><FONT STYLE="letter-spacing: -0.1pt">Very
truly yours,</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 16pt 0 0 3.5in">/s/ MCDONALD CARANO LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0 3.5in">M<FONT STYLE="font-variant: small-caps">c</FONT>DONALD
<FONT STYLE="text-transform: uppercase">carano llp</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><FONT STYLE="letter-spacing: -0.1pt"></FONT></P>

<P STYLE="font: 8.5pt Gill Sans Nova Medium,sans-serif; margin: 0; text-align: center; color: #1F3864"><B>mcdonaldcarano.com</B></P>

<P STYLE="font: 8.5pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #1F3864"><FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif"><B>2300
West Sahara Avenue, Suite 1200 </B></FONT><B><FONT STYLE="font-family: Wingdings">&#167;</FONT> <FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif">Las
Vegas, Nevada 89102 </FONT><FONT STYLE="font-family: Wingdings">&#167;</FONT> <FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif">702.873.4100</FONT></B></P>

<P STYLE="font: 8.5pt/11pt Times New Roman, Times, Serif; margin: 5pt 0 0; text-align: center; color: #1F3864"><FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif"><B>100
West Liberty Street, Tenth Floor </B></FONT><B><FONT STYLE="font-family: Wingdings">&#167;</FONT> <FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif">Reno,
Nevada 89501 </FONT><FONT STYLE="font-family: Wingdings">&#167;</FONT> <FONT STYLE="font-family: Gill Sans Nova Medium,sans-serif">775.788.2000</FONT></B></P>

<P STYLE="font: 8.5pt Gill Sans Nova Medium,sans-serif; text-align: center; margin-top: 0; margin-bottom: 0; color: #1F3864"><B>Mailing Address:  P.O. Box 2670 " Reno, Nevada 89505</B></P>

<P STYLE="text-align: center; font: 12pt Times New Roman, Times, Serif; margin-top: 4pt; margin-bottom: 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;<IMG SRC="image_002.gif" ALT=""></FONT></P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in 0 0"><FONT STYLE="letter-spacing: -0.1pt">&nbsp;</FONT></P>

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