<SEC-DOCUMENT>0001575705-21-000209.txt : 20210422
<SEC-HEADER>0001575705-21-000209.hdr.sgml : 20210422
<ACCEPTANCE-DATETIME>20210422172550
ACCESSION NUMBER:		0001575705-21-000209
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20210416
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Changes in Control of Registrant
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210422
DATE AS OF CHANGE:		20210422

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POWERVERDE, INC.
		CENTRAL INDEX KEY:			0000933972
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				880271109
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-27866
		FILM NUMBER:		21845740

	BUSINESS ADDRESS:	
		STREET 1:		21615 N. 2ND AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85027
		BUSINESS PHONE:		623-780-3321

	MAIL ADDRESS:	
		STREET 1:		21615 N. 2ND AVENUE
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85027

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VYREX CORP
		DATE OF NAME CHANGE:	19951206
</SEC-HEADER>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">Washington, D.C. 20549</P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.25pt"><B>CURRENT REPORT </B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.25pt"><B>Pursuant to Section
13 or 15(d)</B></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

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

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

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>POWERVERDE, INC.</B></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; text-align: center">(Exact name of registrant as specified in charter)</P>

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

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

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<TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Delaware</B><BR> (State or Other Jurisdiction <BR> of Incorporation)</FONT></TD>
<TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>000-27866 </B><BR> (Commission <BR> File Number)</FONT></TD>
<TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>88-0271109</B><BR> (I.R.S. Employer <BR> Identification No.)</FONT></TD></TR>
</TABLE>


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

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<TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>9300 S. Dadeland Blvd., Suite 600, </B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><BR>
Miami, Florida</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><BR>
(Address of Principal Executive Offices)</FONT></TD>
<TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>33156</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><BR>
(Zip Code)</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#9;&#9;</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">Registrant&rsquo;s telephone number, including
area code: <B>(305) 670-3370</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ch<FONT STYLE="font: 10pt Times New Roman, Times, Serif">eck the
appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:</FONT></P>

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Securities
registered pursuant to Section 12(b) of the Act: None</FONT></P>

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

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

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Emerging
growth company&nbsp;&nbsp;&#9746; </FONT></P>

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

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0 26.65pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 26.65pt 0 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 26.65pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black"><B>ITEM 1.01.&#9;Entry
into a Material Definitive Agreement; ITEM 2.01 Completion of Acquisition or Disposition of Assets; ITEM 3.02 Unregistered Sales
of Equity Securities; ITEM 5.01 Change in Control of the Registrant; ITEM 5.02 Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black">On April 16, 2021, PowerVerde, Inc.
(&ldquo;PowerVerde&rdquo;) entered into an Agreement and Plan of Merger (the &ldquo;Merger Agreement&rdquo;) with 374Water, Inc.,
a privately held company based in Durham, North Carolina, <U>www.374Water.com</U> (&ldquo;374Water&rdquo;) and 374Water Acquisition
Corp., a newly-formed wholly-owned subsidiary of PowerVerde (&ldquo;Sub&rdquo;). The parties entered into the Agreement pursuant
to their Binding Letter of Intent dated September 20, 2020.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">Pursuant to the merger
contemplated by the Merger Agreement (the &ldquo;Merger&rdquo;), on April 16, 2021 Sub merged into 374Water, with 374Water as
the surviving corporation. In connection with the Merger, all 374Water shares were cancelled and PowerVerde issued to the former
374Water shareholders a total of 64,012,734 shares of PowerVerde common stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black">Also in connection with the Merger,
PowerVerde closed on a private placement of 436,782 shares of Series D Convertible Preferred Stock (the &ldquo;Preferred
Stock&rdquo;), yielding gross proceeds of $6,551,735. (the &ldquo;Private Placement&rdquo;). The Private Placement proceeds
will be used for working capital, primarily for development, manufacture and commercialization of 374Water&rsquo;s Air SCWO Nix
systems. The Preferred Stock has a stated value of $15 per share, is convertible into common stock at $.30 per share and has voting
rights based on the underlying shares of common stock. All of the Preferred Stock was sold pursuant to an exemption from registration
requirements under Regulation D and/or Section 4(2) of the Securities Act of 1933, as amended.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">As a result of the Merger,
the issuance of the Preferred Stock and the post-Merger conversion of $1,211,000 principal amount of convertible notes
into 5,325,452 shares of PowerVerde common stock, the former 374Water shareholders own 65.8% of PowerVerde&rsquo;s issued and
outstanding common stock and 53.8% of PowerVerde&rsquo;s issued and outstanding voting stock (which includes the Preferred
Stock).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">In connection with the
Merger, PowerVerde entered into two-year employment agreements with 374Water founders Yaacov (Kobe) Nagar and Marc Deshusses,
Ph. D. Mr. Nagar will serve as PowerVerde&rsquo;s CEO, replacing Richard H. Davis, who resigned upon closing of the Merger. Mr
Nagar will receive an annual salary of $200,000. Dr. Deshusses will serve as PowerVerde&rsquo;s Head of Technology on a part-time
basis at a salary of $60,000 per year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">Pursuant to the Merger,
Messrs. Nagar and Deshusses were appointed to the PowerVerde Board of Directors, joining Mr. Davis, who remains as a Director.
The biographies of Messrs. Nagar and Deshusses are as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="color: Black"><B>Kobe Nagar</B>. Mr. Nagar
is a co-founder of 374Water and patent inventor of the supercritical water oxidation AirSCWO system. He has been the Chief Executive
Officer of 374Water from inception in July 2018. Mr. Nagar holds degrees in chemical engineering from Ben Gurion University (2001)
and material engineering from Tel-Aviv University (2007) and thereafter held positions in the defense industry and renewable energy
sectors in Israel, where he worked on developing fuel cell, CO<SUB>2</SUB> sequestration and low energy chemicals technologies.
He joined the Bill and Melinda Gates Foundation project at Duke University in 2017 to scale up and commercialize the SCWO technology.
Mr. Nagar is the post-Merger CEO and Chairman of the Board of PowerVerde.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"><FONT STYLE="color: Black"><B>Marc Deshusses</B>.
Dr. Deshusses is a co-founder of 374Water and patent inventor of the supercritical water oxidation AirSCWO system. He has
served as the Chief Technology Officer of 374Water from inception in July 2018. Dr. Deshusses holds a Ph.D. in chemical
engineering from the Swiss Federal Institute of Technology, Zurich (1994) and a BS in chemical engineering from the Swiss
Federal Institute of Technology, Lausanne (1990). He is a professor of civil and environmental engineering at Duke University
since 2008. Previously, he was a professor of civil and environmental engineering and department chair at the University of
California Riverside from 1994 - 2008. He is a world-renowned researcher in biofiltration, odor, and novel waste-to-energy
technologies. Dr. Deshusses has been the principal
investigator for the supercritical water oxidation development project at Duke University since 2013. Dr. Deshusses is head
of technology and a Director of PowerVerde.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><FONT STYLE="color: Black">The patented technology
underlying 374Water&rsquo;s supercritical water oxidation (SCWO) units, which was developed principally through the efforts of
Messrs. Nagar and Deshusses at the facilities of Duke University, Durham, North Carolina (&ldquo;Duke&rdquo;), where Dr. Deshusses
is a professor, is licensed to 374Water pursuant to a worldwide non-exclusive license agreement with Duke executed on April 16,
2021 (the &ldquo;License Agreement&rdquo;). In connection with the License Agreement, 374Water also executed an Equity Transfer
Agreement with Duke pursuant to which Duke received a small block of common stock in 374Water, which in turn was converted into
PowerVerde shares pursuant to the Merger.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: #252525">On March 30, 2021, in anticipation
of the Merger, 374Water entered into a Binding Memorandum of Understanding (the &ldquo;MOU&rdquo;) with MB Holding Inc. (&ldquo;MBH&rdquo;),
an affiliate of Merrell Bros., Inc., a nationwide biosolids management company based in Kokomo, Indiana</FONT> <U>www.merrellbros.com
</U>(&ldquo;Merrell&rdquo;). The MOU establishes a framework for a contractual relationship for the commercial manufacturing and
service of 374Water&rsquo;s AirSCWO Nix systems. Pursuant to the MOU, MBH and its affiliates invested $1,135,000 in the
Private Placement, purchasing 75,667 shares of Preferred Stock, and upon closing of the Merger, PowerVerde assumed 374Water&rsquo;s
commitment to provide an option to MBH to purchase 3,783,350 shares of PowerVerde common stock at $.30 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Immediately following the Merger, 374Water changed its name
to 374Water Systems Inc. PowerVerde intends to change its name to 374Water Inc. on or before April 30, 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing descriptions of the Merger Agreement
and other agreements and of the Preferred Stock do not purport to be complete and are qualified in their entirety by reference
to the copies of the agreements and the Certificate of Designations of the Preferred Stock, which are attached hereto as Exhibits
and are incorporated herein by reference.</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"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 1in"><FONT STYLE="font-size: 10pt"><B>Item
                                         9.01</B></FONT></TD><TD><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 10pt"><B>Financial
                                         Statements and Exhibits.</B></FONT></P></TD></TR></TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; font-weight: normal">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Financial Statements of Businesses Acquired.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt; font-weight: normal">PowerVerde
intends to file the financial statements required to be filed pursuant to Item 9.01(a) of Form 8-K by amendment to this report
not later than 71 calendar days after the date this report is required to be filed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; font-weight: normal">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Pro Forma Financial Information. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt; font-weight: normal">PowerVerde
intends to file the pro forma financial information required to be filed pursuant to Item 9.01(b) of Form 8-K by amendment to
this report not later than 71 calendar days after the date this report is required to be filed.</FONT></P>
</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(d) The following exhibits are filed with this
report:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0">
<TR STYLE="vertical-align: top">
<TD><B><U>Exhibit Number</U></B></TD>
<TD STYLE="text-align: justify"><B><U>Description</U></B></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 15%"></TD>

<TR STYLE="vertical-align: top">
<TD>3.4</TD>
<TD STYLE="text-align: justify"><A HREF="ex3_4.htm">Certificate of Merger of 374Water Acquisition Corp. into 374Water, Inc. filed April 16, 2021 with the Secretary of State of Delaware</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>3.5</TD>
<TD STYLE="text-align: justify"><A HREF="ex3_5.htm">Certificate of Designation of Preferences, Rights and Limitations of&nbsp;PowerVerde, Inc. Series D Convertible Preferred Stock dated as of October 30, 2020, and filed April 16, 2021, with the Secretary of State of Delaware.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.1</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_1.htm">Agreement and Plan of Merger dated as of April 16, 2021, among PowerVerde, Inc., 374Water, Inc. and 374Water Acquisition Corp.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.2</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_2.htm">Employment Agreement dated as of April 16, 2021, between PowerVerde, Inc., and Yaacov Nagar.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.3</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_3.htm">Employment Agreement dated as of April 16, 2021, between PowerVerde, Inc., and Marc Deshusses, Ph. D.</A></TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.4</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_4.htm">License Agreement dated as of April 16, 2021, between 374Water, Inc., and Duke University.</A>*</TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.5</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_5.htm">Equity Transfer Agreement dated as of April 16, 2021, between 374Water, Inc. and Duke University.</A>*</TD></TR>
<TR STYLE="vertical-align: top">
<TD>10.6</TD>
<TD STYLE="text-align: justify"><A HREF="ex10_6.htm">Binding Memorandum of Understanding between 374Water, Inc. and MB Holding Inc. dated as of March 30, 2021.</A></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -1.5in"></P>

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<HR ALIGN="LEFT" NOSHADE SIZE="1" STYLE="color: Black; width: 25%; margin-top: 3pt; margin-bottom: 3pt">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0">* Portions of the exhibit have been omitted as the
registrant has determined that: (i)&nbsp;the omitted information is not material; and (ii)&nbsp;the omitted information would likely
cause competitive harm to the registrant if publicly disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.4in 0 0.5in">&nbsp;</P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; color: #252525"><B></B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.25pt 0 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 9.25pt 0 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.25pt 0 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">POWERVERDE INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; width: 7%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; width: 38%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; width: 7%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; width: 43%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Dated:</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">April 22, 2021</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="line-height: 115%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title:</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 9.25pt 0 0; text-indent: 0.5in"></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"></P>

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



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

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<TYPE>EX-99.2
<SEQUENCE>2
<FILENAME>ex3_4.htm
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>&nbsp;Exhibit 3.4</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Pursuant to Title 8, Section
251(c) of the Delaware General Corporation Law, the undersigned corporation executed the following Certificate of Merger:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>FIRST</B>:
The name of the surviving Delaware corporation is 374Water, Inc., and the name of the Delaware corporation being merged into this
surviving corporation is 374Water Acquisition Corp., the constituent corporations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>SECOND</B>:
The Agreement and Plan of Merger has been approved, adopted, certified, executed and acknowledged by each of the constituent corporations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>THIRD</B>:
The name of the surviving Delaware corporation is 374Water, Inc.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>FOURTH</B>:
The Certificate of Incorporation of the surviving corporation shall be its Certificate of Incorporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>FIFTH:</B>
The merger is to become effective immediately upon filing of this Certificate of Merger.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in"><FONT STYLE="color: black"><B>SIXTH</B>:
The Agreement and Plan of Merger is on file at </FONT>12 Upchurch Circle, Durham, NC 27705<FONT STYLE="color: black">, the place
of business of the surviving corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><B>SEVENTH</B>:
A copy of the Agreement and Plan of Merger will be furnished by the surviving corporation on request, without cost, to any stockholder
of the constituent corporations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>IN WITNESS WHEREOF</B>,
said surviving corporation has caused this certificate to be signed by an authorized officer, the 16<SUP>th</SUP> day of April,
2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
<TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="color: black">374WATER, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%; padding: 0; text-indent: 0">&nbsp;</TD>
<TD STYLE="width: 7%; padding: 0; text-indent: 0">&nbsp;</TD>
<TD STYLE="width: 43%; padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0">&nbsp; &nbsp; &nbsp;</TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="color: black">By:</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="color: black">/s/ Yaacov Nager</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="color: black">Name: </FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="color: black">Yaacov Nager, Chief Executive Officer</FONT></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"></P>

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

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<TYPE>EX-99.3
<SEQUENCE>3
<FILENAME>ex3_5.htm
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 3.5</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AND LIMITATIONS OF SERIES D CONVERTIBLE PREFERRED STOCK</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The undersigned, Richard
H. Davis, the Chief Executive Officer of Powerverde, Inc. (the &ldquo;<U>Corporation</U>&rdquo;), a corporation organized and existing
under the Delaware General Corporation Law (&ldquo;<U>DGCL</U>&rdquo;), in accordance with the provisions of Section 151 and Section
242 of the DGCL, does hereby certify:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">That pursuant to the authority
expressly conferred upon the Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;) by the Corporation&rsquo;s
Certificate of Incorporation, as amended (the &ldquo;<U>Certificate of Incorporation</U>&rdquo;), the Board of Directors by unanimous
written consent as of October 30, 2020, adopted the following resolutions in connection with designating shares of stock as Series
D Convertible Preferred Stock, none of which shares have been issued:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>RESOLVED</B>, that the
Board of Directors designates the Series D Convertible Preferred Stock and the number of shares constituting such series, and fixes
the rights, powers, preferences, privileges and restrictions relating to such series in addition to any set forth in the Certificate
of Incorporation as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 1.&nbsp;<U>Designation
and Authorized Shares</U>.</B> There shall hereby be created and established a series of preferred stock of the Corporation designated
as &ldquo;Series D Convertible Preferred Stock&rdquo; (the &ldquo;<U>Series D Preferred Stock</U>&rdquo;). The authorized number of
shares of the Series D Preferred Stock shall be 1,000,000 shares (the &ldquo;<U>Preferred Shares</U>&rdquo;). Each Preferred Share
shall have a par value of $.0001.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 2.&nbsp;<U>Stated
Value</U>.</B> Each Preferred Share shall have a stated value of $15.00 per share (the &ldquo;<U>Stated Value</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 3.&nbsp;<U>Liquidation
Preference</U>.</B> Except as set forth in Section 5(c) below, upon the liquidation, dissolution or winding up of the business
of the Corporation, whether voluntary or involuntary, each holder of Preferred Shares (a &ldquo;<U>Holder</U>&rdquo;) shall be entitled
to receive, for each share thereof, out of assets of the Corporation legally available therefor, before any distribution of assets
may be made to the holders of the Corporation&rsquo;s common stock (the &ldquo;<U>Common Stock</U>&rdquo;) or any other class of capital
stock or other equity securities of the Corporation, an amount equal to $15.00 per share of Series D Preferred Stock held by such
Holder (the &ldquo;<U>Liquidation Distribution</U>&rdquo;). After payment of the Liquidation Distribution to each Holder, the Series
D Preferred Stock shall be deemed to have been converted to Common Stock and the entire remaining assets of the Corporation available
for distribution shall be distributed <U>pro</U> <U>rata</U> to holders of the Common Stock of the Corporation and the former Holders
of Series D Preferred Stock in proportion to the number of shares of Common Stock held by them or into which the Series D Preferred
Stock shall be deemed to have been converted. If upon any liquidation, dissolution or winding up of the Corporation, the net assets
of the Corporation to be distributed among the Holders of the Series D Preferred Stock shall be insufficient to permit payment
in full of the Liquidation Distribution to the Holders, then all remaining net assets of the Corporation after the provision for
the payment of the Corporation&rsquo;s external, third party debts shall be distributed ratably among the Holders in proportion to the
full amounts to which they would otherwise be entitled to receive.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 4.&nbsp;<U>Voting;
Dividends</U>.</B> Except as otherwise expressly required by law, each Holder shall be entitled to vote on all matters submitted
to stockholders of the Corporation and shall be entitled to the number of votes for each Preferred Share owned at the record date
for the determination of stockholders entitled to vote on such matter or, if no such record date is established, at the date such
vote is taken or any written consent of stockholders is solicited, equal to the number of shares of Common Stock such Preferred
Shares are convertible into at such time. Except as otherwise required by law, the Holders shall vote together with the holders
of Common Stock on all matters and shall not vote as a separate class. In the event that the Corporation declares a dividend on
its Common Stock, each Preferred Share shall receive a dividend equal to the amount payable with respect to the Common Stock into
which the Preferred Stock is convertible.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Section 5.&nbsp;<U>Conversion</U>.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Conversion Right</U><I>.</I>
At any time or times on or after the Closing Date, each Holder shall be entitled to convert any portion of the outstanding Preferred
Shares held by such Holder into validly issued, fully paid and non-assessable shares of Common Stock at the Conversion Rate (as
defined below). The Corporation shall not issue any fraction of a share of Common Stock upon any conversion. If the issuance would
result in the issuance of a fraction of a share of Common Stock, the Corporation shall round such fraction of a share of Common
Stock up to the nearest whole share. The Corporation shall pay any and all transfer, stamp, issuance and similar taxes, costs and
expenses (including fees and expenses of the Corporation&rsquo;s transfer agent that may be payable with respect to the issuance and
delivery of Common Stock upon conversion of any Preferred Share).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(b)&nbsp;&nbsp;&nbsp;<U>Conversion
Rate</U><I>.</I>&nbsp;The number of shares of Common Stock issuable upon conversion of each Preferred Share shall be determined
by dividing (x) the Stated Value of such Preferred Share by (y) the Conversion Price (the &ldquo;<U>Conversion Rate</U>&rdquo;).
Each Preferred Share will convert into Common Stock at a ratio of 50 shares of Common Stock per share of Series D Preferred Stock,
reflecting a conversion price per share of Common Stock (the <U>&ldquo;Conversion Price&rdquo;</U>) equal to $.30 per share.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(c)&nbsp;&nbsp;&nbsp; <U>Automatic Conversion</U>.
Subject to the provisions of this Section 5 and notwithstanding Section 3 above, in connection with, and on the closing of, a Liquidity
Event or a Qualified Public Offering (each as defined in Section 10 below) by the Corporation, all of the outstanding Shares of
Series D Preferred Stock (including any fraction of a Share) held by stockholders shall automatically convert into an aggregate
number of shares of Common Stock (including any fraction of a Share) as is determined by (i) multiplying the number of Preferred
Shares (including any fraction of a Share) to be converted by the Stated Value thereof, and then (ii) dividing the result by the
applicable Conversion Price then in effect. If a closing of a Qualified Public Offering occurs, such automatic conversion of all
of the outstanding Shares of Series D Preferred Stock shall be deemed to have occurred as of immediately prior to such closing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(d)&nbsp;&nbsp; <FONT STYLE="font-family: Times New Roman, Times, Serif; font-weight: normal; color: black; vertical-align: baseline"><U>Procedures
for Conversion; Effect of Conversion</U></FONT>.</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Procedures for Holder Conversion</U>. In order to effectuate a conversion of Shares of
Series D Preferred Stock pursuant to Section 5(a) above, a Holder shall (a) submit a written election to the Corporation that such
Holder elects to convert Preferred Shares, the number of Preferred Shares elected to be converted and (b) surrender, along with
such written election, to the Corporation the certificate or certificates representing the Preferred Shares being converted, duly
assigned or endorsed for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto) or, in the
event the certificate or certificates are lost, stolen, or missing, accompanied by an affidavit of loss executed by the Holder.
The conversion of such Preferred Shares hereunder shall be deemed effective as of the date of surrender of such Series D Preferred
Stock certificate or certificates or delivery of such affidavit of loss. Upon the receipt by the Corporation of a written election
and the surrender of such certificate(s) and accompanying materials, the Corporation shall as promptly as practicable (but in any
event within 10 days thereafter) deliver to the relevant Holder (a) a certificate in such Holder&rsquo;s name (or the name of such Holder&rsquo;s
designee as stated in the written election) for the number of shares of Common Stock (including any fractional share) to which
such Holder shall be entitled upon conversion of the applicable Shares as calculated pursuant to Section 5(b) and, if applicable
(b) a certificate in such Holder&rsquo;s (or the name of such Holder&rsquo;s designee as stated in the written election) for the number of
Shares of Series D Preferred Stock (including any fractional share) represented by the certificate or certificates delivered to
the Corporation for conversion but otherwise not elected to be converted pursuant to the written election. All shares of capital
stock issued hereunder by the Corporation shall be duly and validly issued, fully paid, and nonassessable, free and clear of all
taxes, liens, charges, and encumbrances with respect to the issuance thereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt"></FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Procedures for Automatic Conversion</U>. As of the closing of a Qualified Public Offering
or a Liquidity Event, all outstanding Shares of Series D Preferred Stock shall be converted to the number of shares of Common
Stock calculated pursuant to Section 5(b) without any further action by the relevant Holder of such Preferred Shares or the Corporation.
As promptly as practicable following such closing (but in any event within 5 days thereafter), the Corporation shall send each
Holder of Shares of Series D Preferred Stock written notice of such event. Upon receipt of such notice, each Holder shall surrender
to the Corporation the certificate or certificates representing the Preferred Shares being converted, duly assigned, or endorsed
for transfer to the Corporation (or accompanied by duly executed stock powers relating thereto) or, in the event the certificate
or certificates are lost, stolen, or missing, accompanied by an affidavit of loss executed by the Holder. Upon the surrender of
such certificate(s) and accompanying materials, the Corporation shall as promptly as practicable (but in any event within 10 days)
thereafter) deliver to the relevant Holder (i) in the case of a Qualified Public Offering a certificate in such Holder&rsquo;s
name (or the name of such Holder&rsquo;s designee as stated in the written election) for the number of shares of Common Stock
(including any fractional share) to which such Holder shall be entitled upon conversion of the applicable Preferred Shares or
(ii) in the case of a Liquidity Event, payment by check or wire transfer of the cash consideration payable with respect to the
Common Stock resulting from such conversion. All shares of Common Stock issued hereunder by the Corporation shall be duly and
validly issued, fully paid, and nonassessable, free and clear of all taxes, liens, charges, and encumbrances with respect to the
issuance thereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><B>Section 6.&nbsp;<U>Other Provisions</U>.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Reservation
of Common Stock</U>. The Corporation shall at all times reserve at least the number of shares of Common Stock as shall from time
to time be necessary to effect the conversion of all of the Preferred Shares then outstanding.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(b)&nbsp;&nbsp;&nbsp;<U>Record Holders</U>.
The Corporation shall maintain a register (the &ldquo;<U>Register</U>&rdquo;) for the recordation of the names and addresses of the
Holders of each Preferred Share and the Stated Value of the Preferred Shares. The entries in the Register shall be conclusive and
binding for all purposes absent manifest error. The Corporation and each Holder of the Preferred Shares shall treat each Person
whose name is recorded in the Register as the owner of a Preferred Share for all purposes notwithstanding notice to the contrary.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Transfer of
Preferred Shares</U>. A Holder may transfer some or all of its Preferred Shares without the consent of the Corporation, subject
to compliance with the Securities Act of 1933, as amended. If any Preferred Shares are to be transferred, the applicable Holder
shall surrender the applicable Preferred Share Certificate to the Corporation, whereupon the Corporation will forthwith issue and
deliver upon the order of such Holder a new Preferred Share Certificate, registered as such Holder may request, representing the
outstanding number of Preferred Shares being transferred by such Holder and, if less than the entire outstanding number of Preferred
Shares is being transferred, a new Preferred Share Certificate to such Holder representing the outstanding number of Preferred
Shares not being transferred.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.75in">(d)&nbsp;&nbsp;&nbsp;<U>Lost, Stolen
or Mutilated Preferred Share Certificate</U>. Upon receipt by the Corporation of evidence reasonably satisfactory to the Corporation
of the loss, theft, destruction or mutilation of a Preferred Share Certificate and, in the case of loss, theft or destruction,
of any indemnification undertaking by the applicable Holder to the Corporation in customary and reasonable form and, in the case
of mutilation, upon surrender and cancellation of such Preferred Share Certificate, the Corporation shall execute and deliver to
such Holder a new Preferred Share Certificate representing the applicable outstanding number of Preferred Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 7.&nbsp;<U>Restriction
and Limitations</U>.</B> Except as expressly provided herein or as required by law, so long as any Preferred Shares remain outstanding,
the Corporation shall not, without the vote or written consent of all of the Holders, take any action which would adversely and
materially affect any of the preferences, limitations or relative rights of the Series D Preferred Stock.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 8.&nbsp;<U>Certain
Adjustments</U>. </B>If the Corporation, at any time while any Preferred Shares remain outstanding: (A) shall pay a stock dividend
or otherwise make a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities
payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Corporation
pursuant to the conversion of the Series D Preferred Stock), (B) subdivide outstanding shares of Common Stock into a larger number
of shares, or (C) combine (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of
shares, the Conversion Ratio and Conversion Price shall be adjusted proportionately.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 9.&nbsp;<U>Equal
Treatment of Holders</U>.</B> No consideration (including any modification of this Certificate of Designation or related transaction
document) shall be offered or paid to any person or entity to amend or consent to a waiver or modification of any provision of
this Certificate of Designation or transaction document unless the same consideration is also offered to all of the Holders. For
clarification purposes, this provision constitutes a separate right granted to each Holder by the Corporation and negotiated separately
by each Holder, and is intended for the Corporation to treat all Holders as a class and shall not in any way be construed as such
Holders acting in concert or as a group with respect to the purchase, disposition or voting of the Series D Preferred Stock or
otherwise.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>Section 10. <U>Definitions</U>.</B>
For purposes of this Agreement, the following terms shall have the following meanings.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;Liquidity Event&rdquo;</B>
means a merger, sale of all or substantially all of the Corporation&rsquo;s assets or sale of all of the Corporation&rsquo;s Common Stock pursuant
to which the cash consideration, net of expenses, payable to holders of Common Stock, including the Common Stock underlying the
Preferred Shares, is at least $1.20 per share of Common Stock (appropriately adjusted for stock splits, stock dividends, combinations,
recapitalizations and the like).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.9in"><B>&ldquo;Qualified Public
Offering&rdquo;</B> means the sale, in a firm commitment underwritten public offering led by a nationally recognized underwriting
firm pursuant to an effective registration statement under the Securities Act, of Common Stock of the Corporation having an aggregate
offering value (net of underwriters&rsquo; discounts and selling commissions) of at least $10 million and a price per share of Common
Stock of at least $1.20 (appropriately adjusted for stock splits, stock dividends, combinations, recapitalizations, and the like),
following which the Common Stock of the Corporation shall be listed on any national securities exchange registered with the Securities
and Exchange Commission under Section 6(a) of the Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.9in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS THEREOF, this
Certificate of Designation is executed on behalf of the Corporation by its Chief Executive Officer as of October 30, 2020.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>POWERVERDE, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> /s/ Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Richard H. Davis, CEO</FONT></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"></P>

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<TYPE>EX-99.1
<SEQUENCE>4
<FILENAME>ex10_1.htm
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<P STYLE="margin: 0"></P>

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>374WATER ACQUISITION CORP.</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>374WATER, INC.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>April 16, 2021</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>TABLE
OF CONTENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B></B></FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 80%; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>PAGE</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1.</B> <B>The Merger.</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Merger</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Effective Time.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.3</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Certificate of Incorporation; By-laws,
    Directors and Officers; Parent Name Change.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.4</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assets and Liabilities.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.5</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Manner and Basis of Converting Shares</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.6</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Surrender and Exchange of Certificates.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.7</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Parent Common Stock.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>2.</B> <B>Representations
    and Warranties of the Company</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Organization, Standing, Subsidiaries,
    Etc</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Qualification.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.3</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capitalization of the Company.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.4</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Company Stockholders.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.5</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Corporate Acts and Proceedings.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.6</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Compliance with Laws and Instruments</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.7</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Binding Obligations</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.8</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Broker&rsquo;s and Finder&rsquo;s Fees</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.9</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Financial Statements</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.10</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Absence of Undisclosed Liabilities.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.11</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Changes</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.12</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tax Returns and Audits.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.13</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employee Benefit Plans; ERISA.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.14</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title to Property and Encumbrances</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.15</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Litigation</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.16</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Patents, Trademarks, Etc</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.17</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interested Party Transactions</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.18</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Questionable Payments</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.19</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Obligations to or by Stockholders</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.20</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assets and Contracts</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.21</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employees</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>3.</B> <B>Representations
    and Warranties of Parent and Acquisition Corp</B>.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Organization and Standing</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Corporate Authority.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.3</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Broker&rsquo;s and Finder&rsquo;s Fees.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.4</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Capitalization of Parent</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.5</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Acquisition Corp</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.6</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Validity of Shares</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.7</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">SEC Reporting and Compliance.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.8</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Financial Statements.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.9</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Governmental Consents.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.10</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Compliance with Laws and Instruments</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.11</FONT></TD>
    <TD STYLE="width: 80%; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No General Solicitation</FONT></TD>
    <TD STYLE="width: 8%; line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.12</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Binding Obligations.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.13</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Absence of Undisclosed Liabilities.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.14</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Changes</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.15</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Tax Returns and Audits.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.16</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employee Benefit Plans; ERISA.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.17</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Litigation</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.18</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Interested Party Transactions</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.19</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Questionable Payments</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.20</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Obligations to or by Stockholders</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.21</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Assets and Contracts.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.22</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Employees</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.23</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Patents, Trademarks, Etc</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.24</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Disclosure.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.25</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Broker&rsquo;s and Finder&rsquo;s Fees</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.26</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Controls and Procedures</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>4.</B> <B>Investment Letter</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">17</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>5.</B> <B>Conduct of Businesses Pending the Merger</B>.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Conduct of Business by the Company Pending the Merger</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Conduct of Business by Parent and Acquisition Corp. Pending the Merger.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>6.</B> <B>Additional Agreements.</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Access and Information.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Additional Agreements.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.3</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Publicity.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.4</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Appointment of Officers and Directors.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.5</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Indemnity Agreements</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.6</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Parent Post-Closing Capitalization Table.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.7</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Form D Filing</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.8</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Integrated Offerings</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.9</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Budget</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right">21</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.10</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name Change</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>7.</B> <B>Conditions of Parties&rsquo; Obligations.</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Company Obligations.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">21</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">7.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Parent and Acquisition Corp. Obligations.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt">&nbsp;</TD>
    <TD STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>8.</B> <B>Survival of Representations and Warranties</B>.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>9.</B> <B>Amendment of Agreement</B>.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>10.</B> Definitions</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>11.</B> Closing.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%">&nbsp;</TD>
    <TD STYLE="line-height: 115%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>12.</B> <B>Termination Prior to and After Closing</B>.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.1</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Termination of Agreement</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">29</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">12.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Termination of Obligations</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD></TR>
</TABLE>

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>13.</B> <B>Miscellaneous.</B></FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.1</FONT></TD>
    <TD STYLE="width: 80%; line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Notices.</FONT></TD>
    <TD STYLE="width: 8%; line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.2</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Entire Agreement; Assignment</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">30</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.3</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Expenses.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.4</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Time.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.5</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Severability.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.6</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Successors and Assigns</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.7</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No Third Parties Benefited.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.8</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Counterparts; Signature by Facsimile.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.9</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Governing Law.</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 115%; padding-left: 20pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">13.10</FONT></TD>
    <TD STYLE="line-height: 115%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Venue; Submission to Jurisdiction</FONT></TD>
    <TD STYLE="line-height: 115%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">31</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>LIST
OF EXHIBITS AND SCHEDULES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>Exhibits</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">A</FONT></TD>
    <TD STYLE="width: 87%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Certificate
    of Merger</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">B</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Directors
    and Officers of the Surviving Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">C</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
    Post Closing Capitalization Table</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>Parent
Disclosure Schedules</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">3.14</FONT></TD>
    <TD STYLE="width: 87%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
    Changes/Indebtedness</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">3.21</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
    Assets and Contracts</FONT></TD></TR>
</TABLE>

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

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

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>AGREEMENT
AND PLAN OF MERGER</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">THIS
AGREEMENT AND PLAN OF MERGER is made and entered into as of April 16, 2021, by and among POWERVERDE INC., a Delaware corporation
(&ldquo;Parent&rdquo;), 374WATER ACQUISITION CORP., a Delaware corporation and wholly-owned subsidiary of Parent (&ldquo;Acquisition
Corp.&rdquo;), and 374WATER, INC., a Delaware corporation (the &ldquo;Company&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>W
I T N E S S E T H:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">WHEREAS,
the Board of Directors of each of Acquisition Corp., Parent and the Company have each determined that it is fair to and in the
best interests of their respective corporations and shareholders for Acquisition Corp. to be merged with and into the Company
(the &ldquo;Merger&rdquo;) upon the terms and subject to the conditions set forth herein;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">WHEREAS,
the Board of Directors of Acquisition Corp. and the Board of Directors of the Company have approved the Merger in accordance with
the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;), and upon the terms and subject to the conditions
set forth herein and in the Certificate of Merger (the &ldquo;Certificate of Merger&rdquo;) attached as <B>Exhibit&nbsp;&ldquo;A&rdquo;
</B>hereto; and the Board of Directors of Parent has also approved this Agreement and the Certificate of Merger; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">WHEREAS,
the requisite Stockholders (as such term is defined in Section&nbsp;10 hereof) have approved, by written consent pursuant to Sections
228 and 251 of the DGCL, this Agreement and the Certificate of Merger and the transactions contemplated hereby and thereby, including
without limitation, the Merger, and Parent, as the sole stockholder of Acquisition Corp., has approved this Agreement, the Certificate
of Merger and the transactions contemplated and described hereby and thereby, including without limitation, the Merger.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">NOW,
THEREFORE, in consideration of the mutual agreements and covenants hereinafter set forth, the parties hereto agree as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>1.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>The Merger</U>.</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Merger</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Subject
to the terms and conditions of this Agreement and the Certificate of Merger, Acquisition Corp. shall be merged with and into the
Company in accordance with Section&nbsp;251 of the DGCL. At the Effective Time (as hereinafter defined), the separate legal existence
of Acquisition Corp. shall cease, and the Company shall be the surviving corporation in the Merger (sometimes hereinafter referred
to as the &ldquo;Surviving Corporation&rdquo;) and shall continue its corporate existence under the laws of the State of Delaware
under the name 374Water, Inc.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Effective Time</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Merger shall become effective on the date and at the time the Certificate of Merger is filed with the Secretary of State of the
State of Delaware in accordance with Section&nbsp;251 of the DGCL. The time at which the Merger shall become effective as aforesaid
is referred to hereinafter as the &ldquo;Effective Time.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Certificate
of Incorporation; By-laws, Directors and Officers; Parent Name Change</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The Certificate of Incorporation of the Company, as in effect immediately prior to the Effective
Time, shall be the Certificate of Incorporation of the Surviving Corporation from and after the Effective Time until further amended
in accordance with applicable law.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The By-laws of the Company, as in effect immediately prior to the Effective Time, shall be
the By-laws of the Surviving Corporation from and after the Effective Time until amended in accordance with applicable law, the
Certificate of Incorporation of the Surviving Corporation and such By-laws.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">The directors and officers listed in <B>Exhibit&nbsp;&ldquo;B&rdquo;</B> hereto shall be
the directors and officers of the Surviving Corporation and the Parent, and each shall hold his respective office or offices from
and after the Effective Time (except, in the case of directors, as described in Section&nbsp;6.4) until his successor shall have
been elected and shall have qualified in accordance with applicable law, or as otherwise provided in the Certificate of Incorporation
or By-laws of the Surviving Corporation.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">As soon as practicable following the Effective Time, the Parent shall file a certificate
of amendment to its certificate of incorporation changing its name to PowerVerde Solar Corporation.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Assets
and Liabilities</U>. </FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">At the Effective
Time, the Surviving Corporation shall possess all the rights, privileges, powers and franchises of a public as well as of a
private nature, and be subject to all the restrictions, disabilities and duties of each of Acquisition Corp. and the
Company (collectively, the &ldquo;Constituent Corporations&rdquo;); and all the rights, privileges, powers and franchises of
each of the Constituent Corporations, and all property, real, personal and mixed, and all debts due to any of the Constituent
Corporations on whatever account, as well for stock subscriptions as all other things in action or belonging to each of the
Constituent Corporations, shall be vested in the Surviving Corporation; and all property, rights, privileges, powers and
franchises, and all and every other interest shall be thereafter as effectively the property of the Surviving Corporation as
they were of the several and respective Constituent Corporations, and the title to any real estate vested by deed or
otherwise in either of the such Constituent Corporations shall not revert or be in any way impaired by the Merger; but all
rights of creditors and all liens upon any property of any of the Constituent Corporations shall be preserved unimpaired, and
all debts, liabilities and duties of the Constituent Corporations shall thenceforth attach to the Surviving Corporation, and
may be enforced against it to the same extent as if said debts, liabilities and duties had been incurred or contracted by
it.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Manner and Basis
of Converting Shares</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">At the Effective Time:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(i)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">each share of common stock, $.001 par value, of Acquisition Corp. that shall be outstanding
immediately prior to the Effective Time shall, by virtue of the Merger and without any action on the part of the holder thereof,
be converted into the right to receive one share of common stock, par value $.001 per share, of the Surviving Corporation, so
that at the Effective Time, Parent shall be the holder of all of the issued and outstanding shares of the Surviving Corporation;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(ii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">the shares of common stock, par value $.001 per share, of the Company (the &ldquo;Company
Common Stock&rdquo;), which shares at the Closing will constitute all of the issued and outstanding shares of capital stock of
the Company, beneficially owned by the Stockholders listed in the Company Disclosure Schedule (other than shares of Company Common
Stock as to which appraisal rights are perfected pursuant to the applicable provisions of the DGCL and not withdrawn or otherwise
forfeited), shall, by virtue of the Merger and without any action on the part of the holders thereof, be converted into the right
to receive 7,854.32 shares of Parent Common Stock for each share of Company Common Stock, subject to adjustment as set forth in
Section 1.5(a)(iii); and</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -1in"><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(iii)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">90 days following Closing, Parent and Company shall audit the stock ledgers of Parent and
to the extent that there are shares of issued and outstanding Parent capital stock or warrants, options, convertible notes or
other securities convertible into the capital stock of Parent, in either case not taken into account in the determination of the
number of shares of Parent Common Stock issued under Section 1.5(a)(ii), the number of shares of Parent Common Stock issued to
the Stockholders listed in the Company Disclosure Schedule shall be increased to reflect the final capitalization of Parent as
determined in any such audit.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 153pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">After the Effective Time,
there shall be no further registration of transfers on the stock transfer books of the Surviving Corporation of the shares of
Company Common Stock that were outstanding immediately prior to the Effective Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Surrender
and Exchange of Certificates</U>. </FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Promptly
after the Effective Time and upon (i)&nbsp;surrender of a certificate or certificates representing shares of Company Common
Stock that were outstanding immediately prior to the Effective Time or an affidavit and indemnification in form reasonably
acceptable to counsel for the Parent stating that such Stockholder has lost its certificate or certificates or that such have
been destroyed and (ii)&nbsp;delivery of a Representation Letter (as described in Section&nbsp;4 hereof), Parent shall issue
to each record holder of the Company Common Stock surrendering such certificate or certificates and Representation Letter, a
certificate or certificates registered in the name of such Stockholder representing the number of shares of Parent Common
Stock that such Stockholder shall be entitled to receive as set forth in Section&nbsp;1.5(a)(ii)&nbsp;hereof. Until the
certificate, certificates or affidavit is or are surrendered together with the Representation letter as contemplated by this
Section&nbsp;1.6 and Section&nbsp;4 hereof, each certificate or affidavit that immediately prior to the Effective Time
represented any outstanding shares of Company Common Stock shall be deemed at and after the Effective Time to represent only
the right to receive upon surrender as aforesaid 7,854.32 shares of Parent Common Stock, subject to adjustment as set forth
in Section1.5(a)(iii), for each share of Company Stock previously held or to perfect any rights of appraisal which such
holder may have pursuant to the applicable provisions of the DGCL.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">1.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Parent Common
Stock.</U></FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent agrees that it will
cause the Parent Common Stock into which the Company Common Stock is converted at the Effective Time pursuant to Section&nbsp;1.5(a)(ii)&nbsp;to
be available for such purpose. Parent further covenants that immediately prior to the Effective Time there will be no more than
27,878,060 shares of Parent Common Stock issued and outstanding, and, except as set forth in <U>Schedule&nbsp;3.4 </U>or in the
Parent SEC Documents, that no other common or preferred stock or equity securities or any options, warrants, rights or other agreements
or instruments convertible, exchangeable or exercisable into common or preferred stock or other equity securities shall be issued
or outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>2.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Representations
and Warranties of the Company</U></FONT></B>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except
as set forth in the Company Disclosure Schedule, the Company hereby represents and warrants to each of Parent and Acquisition
Corp. as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Organization,
Standing, Subsidiaries, Etc</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Company is a corporation
duly organized and existing in good standing under the laws of the State of Delaware, and has all requisite power and authority
(corporate and other) to carry on its business, to own or lease its properties and assets, to enter into this Agreement and the
Certificate of Merger and to carry out the terms hereof and thereof. Copies of the Certificate of Incorporation and By-laws of
the Company that have been delivered to Parent and Acquisition Corp. prior to the execution of this Agreement are true and complete
and have not since been amended or repealed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Company has no subsidiaries
or direct or indirect interest (by way of stock ownership or otherwise) in any firm, corporation, limited liability company, partnership,
association or business.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Qualification</U>.
</FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The Company is duly qualified to
conduct business as a foreign corporation and is in good standing in each jurisdiction wherein the nature of its activities or
its properties owned or leased makes such qualification necessary, except where the failure to be so qualified would not have
a material adverse effect on the condition (financial or otherwise), properties, assets, liabilities, business operations, results
of operations or prospects of the Company taken as a whole (the &ldquo;Condition of the Company&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Capitalization
of the Company</U>.</FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The authorized
capital stock of the Company consists of 10,000 shares of Company Common Stock, and the Company has no authority to issue any
other capital stock. There are 8,150 shares of Company Common Stock issued and outstanding, and such shares are duly authorized,
validly issued, fully paid and nonassessable. The Company has no outstanding warrants, stock options, rights or commitments to
issue Company Common Stock or other Equity Securities of the Company, and there are no outstanding securities convertible or exercisable
into or exchangeable for Company Common Stock or other Equity Securities of the Company.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Company Stockholders</U>.</FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Company Disclosure Schedule contains a true and complete table setting forth the names of the record owners of all of the outstanding
shares of Company Common Stock and other Equity Securities of the Company, together with the number and percentage (on a fully-diluted
basis) of securities held. To the knowledge of the Company, there is no voting trust, agreement or arrangement among any of the
beneficial holders of Company Common Stock affecting the exercise of the voting rights of Company Common Stock.</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Corporate
Acts and Proceedings</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The execution,
delivery and performance of this Agreement and the Certificate of Merger (together, the &ldquo;Merger Documents&rdquo;) have been
duly authorized by the Board of Directors of the Company and have been approved by the requisite vote of the Stockholders, and
all of the corporate acts and other proceedings required for the due and valid authorization, execution, delivery and performance
of the Merger Documents and the consummation of the Merger have been validly and appropriately taken, except for the filing of
the Certificate of Merger referred to in Section&nbsp;1.2.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Compliance with
Laws and Instruments</U>.</FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">To the knowledge
of the Company, the business, products and operations of the Company have been and are being conducted in compliance in all material
respects with all applicable laws, rules&nbsp;and regulations, except for such violations thereof for which the penalties, in
the aggregate, would not have a material adverse effect on the Condition of the Company. Except as set forth in the Company Disclosure
Schedule, the execution, delivery and performance by the Company of the Merger Documents and the consummation by the Company of
the transactions contemplated by this Agreement: (a)&nbsp;will not require any authorization, consent or approval of, or filing
or registration with, any court or governmental agency or instrumentality, except such as shall have been obtained prior to the
Closing, (b)&nbsp;will not cause the Company to violate or contravene in any material respect (i)&nbsp;any provision of law, (ii)&nbsp;any
rule&nbsp;or regulation of any agency or government, (iii)&nbsp;any order, judgment or decree of any court, or (iv)&nbsp;any provision
of the Certificate of Incorporation or By-laws of the Company, (c)&nbsp;will not violate or be in conflict with, result in a breach
of or constitute (with or without notice or lapse of time, or both) a default under, any indenture, loan or credit agreement,
deed of trust, mortgage, security agreement or other contract, agreement or instrument to which the Company is a party or by which
the Company or any of its properties is bound or affected, except as would not have a material adverse effect on the Condition
of the Company, and (d)&nbsp;will not result in the creation or imposition of any material Lien upon any property or asset of
the Company.</FONT></P>

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</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Binding Obligations</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Merger Documents constitute the legal, valid and binding obligations of the Company and are enforceable against the Company in
accordance with their respective terms.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.8&nbsp;&nbsp;<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Broker&rsquo;s
and Finder&rsquo;s Fees</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">No Person
has, or as a result of the transactions contemplated herein will have any right or valid claim against the Company or, to the
knowledge of the Company, any Stockholder for any commission, fee or other compensation as a finder or broker, or in any similar
capacity.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Financial Statements</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Company has delivered to Parent its audited Balance Sheet, Statement of Operations, Statement of Stockholders&rsquo; Equity and
Statement of Cash Flows as of and for the period from January 1, 2019, through December 31, 2020 (the &ldquo;Balance Sheet Date&rdquo;).
Such financial statements (i) are in accordance with the books and records of the Company, (ii) present fairly in all material
respects the financial Condition of the Company as of the dates therein specified and the results of its operations and its cash
flows for the periods therein specified and (iii) have been prepared in accordance with generally accepted accounting <U>principles
in the United States of America (&ldquo;US GAAP&rdquo;) applied on a basis consistent with prior accounting periods.</U></FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Absence of Undisclosed
Liabilities</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The Company has no material
obligation or liability (whether accrued, absolute, contingent, liquidated or otherwise, whether due or to become due), arising
out of any transaction entered into at or prior to the Closing, except (a)&nbsp;as disclosed in the Company Disclosure Schedule,
(b)&nbsp;to the extent set forth on or reserved against in the Balance Sheet, (c)&nbsp;liabilities incurred and obligations under
agreements entered into in the usual and ordinary course of business, none of which (individually or in the aggregate) has had
or will have a material adverse effect on the Condition of the Company and (d)&nbsp;by the specific terms of any written agreement,
document or arrangement identified in the Company Disclosure Schedule.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.11<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Changes</U>.&nbsp;</FONT>Since
December 31, 2020, except as disclosed in the Company Disclosure Schedule, the Company has not (a)&nbsp;incurred any debts, obligations
or liabilities, absolute, accrued, contingent or otherwise, whether due or to become due, except for fees, expenses and liabilities
incurred in connection with the Merger and related transactions and current liabilities incurred in the usual and ordinary course
of business, (b)&nbsp;discharged or satisfied any Liens other than those securing, or paid any obligation or liability other than,
current liabilities shown on the Balance Sheet and current liabilities incurred since December&nbsp;31,&nbsp;2020, in each case
in the usual and ordinary course of business, (c)&nbsp;mortgaged, pledged or subjected to Lien any of its assets, tangible or
intangible, other than in the usual and ordinary course of business, (d)&nbsp;sold, transferred or leased any of its assets, except
in the usual and ordinary course of business, (e)&nbsp;cancelled or compromised any debt or claim, or waived or released any right,
of material value, (f)&nbsp;suffered any physical damage, destruction or loss (whether or not covered by insurance) materially
and adversely affecting the Condition of the Company, (g)&nbsp;entered into any transaction other than in the usual and ordinary
course of business, (h)&nbsp;encountered any labor union difficulties, (i)&nbsp;made or granted any wage or salary increase or
made any increase in the amounts payable under any profit sharing, bonus, deferred compensation, severance pay, insurance, pension,
retirement or other employee benefit plan, agreement or arrangement, other than in the ordinary course of business consistent
with past practice, or entered into any employment agreement, (j) issued or sold any shares of capital stock, bonds, notes, debentures
or other securities or granted any options (including employee stock options), warrants or other rights with respect thereto,
(k) declared or paid any dividends on or made any other distributions with respect to, or purchased or redeemed, any of its outstanding
capital stock, (l) suffered or experienced any change in, or condition affecting, the financial Condition of the Company other
than changes, events or conditions in the usual and ordinary course of its business, none of which (either by itself or in conjunction
with all such other changes, events and conditions) could reasonably be expected to have a material adverse effect on the Condition
of the Company, (m) made any change in the accounting principles, methods or practices followed by it or depreciation or amortization
policies or rates theretofore adopted, (n) made or permitted any amendment or termination of any material contract, agreement
or license to which it is a party, (o) suffered any material loss not reflected in the Company Balance Sheet or its statement
of income for the year ended on the Company Balance Sheet Date, (p) paid, or made any accrual or arrangement for payment of, bonuses
or special compensation of any kind or any severance or termination pay to any present or former officer, director, employee,
stockholder or consultant, (q) made or agreed to make any charitable contributions or incurred any non-business expenses in excess
of $100,000 in the aggregate, or (r) entered into any agreement, or otherwise obligated itself, to do any of the foregoing.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.12<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Tax Returns
and Audits</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All required federal, state
and local Tax Returns of the Company have been accurately prepared in all material respects and duly and timely filed, and all
federal, state and local Taxes required to be paid with respect to the periods covered by such returns have been paid to the extent
that the same are material and have become due, except where the failure so to file or pay could not reasonably be expected to
have a material adverse effect upon the Condition of the Company. The Company is not and has not been delinquent in the payment
of any Tax. The Company has not had a Tax deficiency assessed against it. None of the Company&rsquo;s federal income tax returns
nor any state or local income or franchise tax returns has been audited by governmental authorities. The reserves for Taxes reflected
on the Company&rsquo;s Balance Sheet are sufficient for the payment of all unpaid Taxes payable by the Company with respect to
the period ended on the Company&rsquo;s Balance Sheet Date. There are no federal, state, local or foreign audits, actions, suits,
proceedings, investigations, claims or administrative proceedings relating to Taxes or any Tax Returns of the Company now pending,
and the Company has not received any notice of any proposed audits, investigations, claims or administrative proceedings relating
to Taxes or any Tax Returns.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.13<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Employee Benefit
Plans; ERISA</U>.</FONT>&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Schedule&nbsp;2.13
</U>lists any: (i)&nbsp;&ldquo;employee benefit plans&rdquo; as defined in Section&nbsp;3(3)&nbsp;of the Employee Retirement Income
Security Act of 1974, as amended (&ldquo;ERISA&rdquo;), maintained or contributed to by the Company and covering employees of
the Company, including (x)&nbsp;any such plans that are &ldquo;employee welfare benefit plans&rdquo; as defined in Section&nbsp;3(1)&nbsp;of
ERISA and (y)&nbsp;any such plans that are &ldquo;employee pension benefit plans&rdquo; as defined in Section&nbsp;3(2)&nbsp;of
ERISA (collectively, the &ldquo;Company Benefit Plans&rdquo;); or (ii)&nbsp;life and health insurance, hospitalization, savings,
bonus, deferred compensation, incentive compensation, holiday, vacation, severance pay, sick pay, sick leave, disability, tuition
refund, service award, company car, scholarship, relocation, patent award, fringe benefit and other employee benefit plans, contracts
(other than individual employment, consultancy or severance contracts), policies or practices of the Company providing employee
or executive compensation or benefits to its employees, other than the Company Benefit Plans (collectively, the &ldquo;Benefit
Arrangements&rdquo;). Each Company Benefit Plan and Benefit Arrangement has been maintained and administered in all material respects
in accordance with applicable law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.14<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Title to Property
and Encumbrances</U>.&nbsp;</FONT><FONT STYLE="color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Except
as set forth in the Company Disclosure Schedule, t</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">he
Company has good, valid and indefeasible marketable title to all properties and assets used in the conduct of its business (except
for property held under valid and subsisting leases which are in full force and effect and which are not in default) free of all
Liens and other encumbrances, except Permitted Liens and such ordinary and customary imperfections of title, restrictions and
encumbrances as do not, individually or in the aggregate, materially detract from the value of the property or assets or materially
impair the use made thereof by the Company in its business. Except as set forth in the Company Disclosure Schedule, without limiting
the generality of the foregoing, the Company has good and indefeasible title to all of its properties and assets reflected in
the Balance Sheet, except for property disposed of in the usual and ordinary course of business since December&nbsp;31,&nbsp;2020,
and for property held under valid and subsisting leases which are in full force and effect and which are not in default.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.15<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Litigation</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">There
is no legal action, suit, arbitration or other legal, administrative or other governmental proceeding (other than proceedings
before the United States Patent and Trademark Office or foreign counterparts thereof) pending or, to the best knowledge of the
Company, threatened against or affecting the Company or its properties, assets or business, and after reasonable investigation,
the Company is not aware of any incident, transaction, occurrence or circumstance that might reasonably be expected to result
in or form the basis for any such action, suit, arbitration or other proceeding. The Company is not in default with respect to
any order, writ, judgment, injunction, decree, determination or award of any court or any governmental agency or instrumentality
or arbitration authority.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.16<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Patents,
Trademarks, Etc</U>. </FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The Company
Disclosure Schedule sets forth a list of all United States patents, trademarks, trade names, and applications therefore used
by the Company exclusively in and material to the conduct of its business (the &ldquo;Patent and Trademark Rights&rdquo;).
Except as disclosed in the Company Disclosure Schedule, (a)&nbsp;the Company owns or possesses adequate licenses or other
valid rights to use all Patent and Trademark Rights; and (b)&nbsp;to the Company&rsquo;s knowledge, the conduct of its
business as now being conducted does not conflict with any valid patents, trademarks, trade names or copyrights of others in
any way which has a material adverse effect on the business or financial condition of the Company or its business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.17<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Interested
Party Transactions</U>. </FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except as
disclosed in the Company Disclosure Schedule, no officer, director or stockholder of the Company or any Affiliate or
&ldquo;associate&rdquo; (as such term is defined in Rule&nbsp;405 under the Securities Act) of any such Person or the Company
has or has had, either directly or indirectly, (a)&nbsp;an interest in any Person that (i)&nbsp;furnishes or sells services
or products that are furnished or sold or are proposed to be furnished or sold by the Company or (ii)&nbsp;purchases from or
sells or furnishes to the Company any goods or services, or (b)&nbsp;a beneficial interest in any contract or agreement to
which the Company is a party or by which it may be bound or affected.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.18<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Questionable
Payments</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Neither the Company
nor, to the knowledge of the Company, any director, officer, agent, employee or other Person associated with or acting on behalf
of the Company, has used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating
to political activity; made any direct or indirect unlawful payments to government officials or employees from corporate funds;
established or maintained any unlawful or unrecorded fund of corporate monies or other assets; made any false or fictitious entries
on the books of record of any such corporations; or made any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.19<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Obligations
to or by Stockholders</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except
as disclosed in the Company Disclosure Schedule, the Company has no liability or obligation or commitment to any stockholder of
the Company or any Affiliate or &ldquo;associate&rdquo; (as such term is defined in Rule 405 under the Securities Act) of any
stockholder of Company, nor does any stockholder of Company or any such Affiliate or associate have any liability, obligation
or commitment to the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.20<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Assets and Contracts</U></FONT>.
<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except as expressly set forth in the Company Disclosure
Schedule, the Company is not a party to any written or oral agreement that is material to the Company. Company does not own any
real property. Except as disclosed in the Company Disclosure Schedule, Company is not a party to or otherwise bound by any written
or oral (a) agreement with any labor union, (b) agreement for the purchase of fixed assets or for the purchase of materials, supplies
or equipment in excess of normal operating requirements, (c) agreement for the employment of any officer, individual employee
or other Person on a full-time basis or any agreement with any Person for consulting services, (d) bonus, pension, profit sharing,
retirement, stock purchase, stock option, deferred compensation, medical, hospitalization or life insurance or similar plan, contract
or understanding with respect to any or all of the employees of Company or any other Person, (e) indenture, loan or credit agreement,
note agreement, deed of trust, mortgage, security agreement, promissory note or other agreement or instrument relating to or evidencing
Indebtedness for Borrowed Money or subjecting any asset or property of Company to any Lien or evidencing any Indebtedness, (f)
guaranty of any Indebtedness, (g) lease or agreement under which Company is lessee of or holds or operates any property, real
or personal, owned by any other Person, (h) lease or agreement under which Company is lessor or permits any Person to hold or
operate any property, real or personal, owned or controlled by Company, (i) agreement granting any preemptive right, right of
first refusal or similar right to any Person, (j) agreement or arrangement with any Affiliate or any &ldquo;associate&rdquo; (as
such term is defined in Rule 405 under the Securities Act) of Company or any present or former officer, director or stockholder
of Company, (k) agreement obligating Company to pay any royalty or similar charge for the use or exploitation of any tangible
or intangible property, (1) covenant not to compete or other restriction on its ability to conduct a business or engage in any
other activity, (m) distributor, dealer, manufacturer&rsquo;s representative, sales agency, franchise or advertising contract
or commitment, (n) agreement to register securities under the Securities Act, (o) collective bargaining agreement, or (p) agreement
or other commitment or arrangement with any Person continuing for a period of more than two months from the Closing Date that
involves an expenditure or receipt by Company in excess of $100,000. Except as disclosed in the Company Disclosure Schedule, the
Company maintains no insurance policies and insurance coverage of any kind with respect to Company, its business, premises, properties,
assets, employees and agents. The Company Disclosure Schedule contains a true and complete list and description of each bank account,
savings account, other deposit relationship and safety deposit box of Company, including the name of the bank or other depository,
the account number and the names of the individuals having signature or other withdrawal authority with respect thereto. Except
as disclosed in the Company Disclosure Schedule, no consent of any bank or other depository is required to maintain any bank account,
other deposit relationship or safety deposit box of Company in effect following the consummation of the Merger and the transactions
contemplated hereby. Company has furnished to the Parent true and complete copies of all agreements and other documents disclosed
or referred to in the Company Disclosure Schedule or the Company Balance Sheet or the notes thereto, as well as any additional
agreements or documents, requested by the Parent.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">2.21<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Employees</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except
as disclosed in the Company Disclosure Schedule, other than pursuant to ordinary arrangements of consulting compensation at fair
market rates, Company is not under any obligation or liability to any officer, director, employee or Affiliate of Company. The
Company has no employment agreements with, or any severance payment obligations to, any of its officers or employees.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>3.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Representations
and Warranties of Parent and Acquisition Corp</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
and Acquisition Corp. jointly and severally represent and warrant to the Company as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Organization
and Standing</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent is a corporation
duly organized and existing in good standing under the laws of the State of Delaware. Acquisition Corp. is a corporation duly
organized and existing in good standing under the laws of the State of Delaware. Parent is duly qualified to conduct business
as a foreign corporation and is in good standing in each jurisdiction wherein the nature of its activities or its properties owned
or leased makes such qualification necessary, except where the failure to be so qualified would not have a material adverse effect
on the Condition of the Parent (as defined below). Parent and Acquisition Corp. have heretofore delivered to the Company complete
and correct copies of their respective Certificates of Incorporation and By-laws as now in effect. Parent and Acquisition Corp.
have full corporate power and authority to carry on their respective businesses as they are now being conducted and as now proposed
to be conducted and to own or lease their respective properties and assets. Neither Parent nor Acquisition Corp. has any subsidiaries
(except Parent as the sole stockholder of Acquisition Corp. and sole stockholder of PowerVerde Systems, Inc., a Delaware corporation)
or direct or indirect interest (by way of stock ownership or otherwise) in any firm, corporation, limited liability company, partnership,
association or business. Parent owns all of the issued and outstanding capital stock of Acquisition Corp. free and clear of all
Liens, and Acquisition Corp. has no outstanding options, warrants or rights to purchase capital stock or other equity securities
of Acquisition Corp., other than the capital stock owned by Parent. Unless the context otherwise requires, all references in this
Section&nbsp;3 to the &ldquo;Parent&rdquo; shall be treated as being a reference to the Parent and Acquisition Corp. taken together
as one enterprise.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Corporate Authority</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Each
of Parent and/or Acquisition Corp. (as the case may be) has full corporate power and authority to enter into the Merger Documents
and the other agreements to be made pursuant to the Merger Documents, and to carry out the transactions contemplated hereby and
thereby. All corporate acts and proceedings required for the authorization, execution, delivery and performance of the Merger
Documents and such other agreements and documents by Parent and/or Acquisition Corp. (as the case may be) have been duly and validly
taken or will have been so taken prior to the Closing. Each of the Merger Documents constitutes a legal, valid and binding obligation
of Parent and/or Acquisition Corp. (as the case may be), each enforceable against them in accordance with their respective terms.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Broker&rsquo;s
and Finder&rsquo;s Fees</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">No person,
firm, corporation or other entity is entitled by reason of any act or omission of Parent or Acquisition Corp. to any broker&rsquo;s
or finder&rsquo;s fees, commission or other similar compensation with respect to the execution and delivery of this Agreement
or the Certificate of Merger, or with respect to the consummation of the transactions contemplated hereby or thereby. Parent and
Acquisition Corp. jointly and severally agree to defend, indemnify and hold Company harmless from and against any and all loss,
claim or liability (including attorneys fees, expert fees and all costs of court, whether or not assessable under applicable law)
arising out of any such claim from any other Person who claims he, she or it introduced Parent or Acquisition Corp. to, or assisted
them with, the transactions contemplated by or described herein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Capitalization
of Parent</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The authorized capital stock
of Parent consists of (a)&nbsp;200,000,000 shares of common stock, par value $0.0001 per share (the &ldquo;Parent Common Stock&rdquo;),
of which not more than 27,878,060 shares will be, immediately prior to the Effective Time, issued and outstanding and (b)&nbsp;50,000,000
shares of preferred stock, par value $0.0001 per share, of which no shares are issued or outstanding. The Parent SEC Documents
(as defined in Section 3.7 below) contain a complete and true capitalization table setting forth the Parent common stock holdings
of the officers and directors of Parent and the holders of greater than 5% of Parent Common Stock. Except as set forth in the
Parent SEC Documents or on Exhibit &ldquo;C&rdquo;, Parent has no outstanding options, warrants, rights or commitments to issue
shares of Parent Common Stock or any other Equity Security of Parent or Acquisition Corp., and there are no outstanding securities
convertible or exercisable into or exchangeable for shares of Parent Common Stock or any other Equity Security of Parent or Acquisition
Corp. There is no voting trust, agreement or arrangement among any of the beneficial holders of Parent Common Stock affecting
the nomination or election of directors or the exercise of the voting rights of Parent Common Stock. All outstanding shares of
the capital stock of Parent are validly issued and outstanding, fully paid and nonassessable, and none of such shares have been
issued in violation of the preemptive rights of any person or any applicable law.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Acquisition
Corp</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Acquisition Corp. is a wholly-owned
subsidiary and the only subsidiary of Parent that was formed specifically for the purpose of the Merger and that has not conducted
any business or acquired any property, and will not conduct any business or acquire any property prior to the Closing Date, except
in preparation for and otherwise in connection with the transactions contemplated by this Agreement, the Certificate of Merger
and the other agreements to be made pursuant to or in connection with this Agreement and the Certificate of Merger. The authorized
capital stock of Acquisition Corp. consists of 1,000 shares of $.001 par value common stock (the &ldquo;Acquisition Corp. Common
Stock&rdquo;), of which not more than 100&nbsp;shares will be, prior to the Effective Time, issued and outstanding. Parent does
not own, directly or indirectly, any capital stock or other voting securities of or ownership interests in, any Person other than
Acquisition Corp and PowerVerde Systems, Inc.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Validity of
Shares</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All of the 64,012,734
shares of Parent Common Stock to be issued at the Closing pursuant to Section&nbsp;1.5(a)(ii)&nbsp;hereof, when issued and delivered
in accordance with the terms hereof and the Certificate of Merger, shall be duly and validly issued, fully paid and nonassessable.
The issuance of the Parent Common Stock upon the Merger pursuant to Section&nbsp;1.5(a)(ii)&nbsp;will be (i) exempt from the registration
and prospectus delivery requirements of the Securities Act and from the qualification or registration requirements of any applicable
state blue sky or securities laws and (ii) not be integrated with the private placement referred to ion Section 7.2(c) of this
Agreement so as to cause Parent to lose the applicable federal and state exemptions from registration referred to in clause (i).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>SEC Reporting
and Compliance</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent has filed with
the Commission all forms, reports and documents required to be filed by companies registered pursuant to Section&nbsp;12(g)&nbsp;of
the Exchange Act (collectively, the &ldquo;Parent SEC Documents&rdquo;). The Parent SEC Documents (i)&nbsp;were prepared in all
material respects in accordance with the requirements of the Securities Act and the Exchange Act, as the case may be, and the
rules&nbsp;and regulations thereunder and (ii)&nbsp;did not, at the time they were filed (or at the effective date thereof in
the case of registration statements), contain any untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary in order to make the statements made therein, in light of the circumstances under which they
were made, not misleading.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent has not filed,
and nothing has occurred with respect to which Parent would be required to file, any report on Form&nbsp;8-K since December&nbsp;31,&nbsp;2020.
Prior to and until the Closing, Parent will provide to the Company copies of any and all amendments or supplements to the Parent
SEC Documents filed with the Commission since December&nbsp;31,&nbsp;2020 and any and all subsequent statements, reports and filings
filed by the Parent with the Commission or delivered to the stockholders of Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent is not an investment
company within the meaning of Section&nbsp;3 of the Investment Company Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The shares of Parent Common
Stock are quoted on the OTC Bulletin Board under the symbol &ldquo;PWV1&rdquo;, and Parent is in compliance in all material respects
with all rules&nbsp;and regulations of the OTC Bulletin Board applicable to it and the Parent Stock. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Between the date hereof
and the Closing Date, Parent shall continue to satisfy the filing requirements of the Exchange Act and all other requirements
of applicable securities laws and the OTC Bulletin Board and, as of the Closing Date, the Parent Common Stock shall be listed
on the OTC Bulletin Board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent has otherwise complied
in all material respects with the Securities Act, Exchange Act and all other applicable federal and state securities laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(g)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">The private
placement referred to in Section 7.2(c) of this Agreement will have been conducted in compliance in all material respects with
the Securities Act, Exchange Act and all other applicable federal and state securities laws, including being exempt from registration
under federal and state securities laws, and all shares of the capital stock of Parent issued in such private placement will be
validly issued and outstanding, fully paid and nonassessable, and none of such shares will have been issued in violation of the
preemptive rights of any person or any applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(h)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent has
not received any unresolved comment letter from the SEC or the staff thereof or any correspondence from the Financial Industry
Regulatory Authority or the staff thereof relating to Parent SEC Documents or the trading of the Parent Common Stock on the OTC
Bulletin Board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Financial Statements</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
balance sheets, and statements of operations, statements of changes in shareholders&rsquo; equity and statements of cash flows
contained in the Parent SEC Documents (the &ldquo;Parent Financial Statements&rdquo;) (i)&nbsp;have been prepared in accordance
with US GAAP applied on a basis consistent with prior periods (and, in the case of unaudited financial information, on a basis
consistent with year-end audits), (ii)&nbsp;are in accordance with the books and records of the Parent, and (iii)&nbsp;present
fairly in all material respects the financial Condition of the Parent at the dates therein specified and the results of its operations
and changes in financial position for the periods therein specified. The financial statements included in the Annual Report on
Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2020, are audited by, and include the related report of D. Brooks and
Associates CPAs, P.A., Parent&rsquo;s independent registered public accounting firm. To the knowledge of Parent, D. Brooks and
Associates CPAs, P.A. has been at all time since January 1, 2019 (i) a registered public accounting firm (as defined in Section
2(a)(12) of the Sarbanes-Oxley Act, (ii) &ldquo;independent&rdquo; with respect to Parent within the meaning of Regulation S-X
under the Exchange Act, and (iii) in compliance with subsections (g) through (l) of Section 10A of the Exchange Act and the rules
and regulations promulgated by the SEC thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Governmental
Consents</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All consents, approvals, orders,
or authorizations of, or registrations, qualifications, designations, declarations, or filings with any federal or state governmental
authority on the part of Parent or Acquisition Corp. required in connection with the consummation of the Merger shall have been
obtained prior to, and be effective as of, the Closing.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Compliance with
Laws and Instruments</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The execution,
delivery and performance by Parent and/or Acquisition Corp. of this Agreement, the Certificate of Merger and the other agreements
to be made by Parent or Acquisition Corp. pursuant to or in connection with this Agreement or the Certificate of Merger and the
consummation by Parent and/or Acquisition Corp. of the transactions contemplated by the Merger Documents will not cause Parent
and/or Acquisition Corp. to violate or contravene (i)&nbsp;any provision of law, (ii)&nbsp;any rule&nbsp;or regulation of any
agency or government, (iii)&nbsp;any order, judgment or decree of any court, or (v)&nbsp;any provision of their respective articles
or certificate of incorporation or by-laws as amended and in effect on and as of the Closing Date and will not violate or be in
conflict with, result in a breach of or constitute (with or without notice or lapse of time, or both) a default under any indenture,
loan or credit agreement, deed of trust, mortgage, security agreement or other agreement or contract to which Parent or Acquisition
Corp. is a party or by which Parent and/or Acquisition Corp. or any of their respective properties is bound.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.11<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>No General Solicitation</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">In
issuing Parent Common Stock in the Merger hereunder, neither Parent nor anyone acting on its behalf has offered to sell the Parent
Common Stock by any form of general solicitation or advertising.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.12<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Binding Obligations</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Merger Documents constitute the legal, valid and binding obligations of Parent and Acquisition Corp., and are enforceable against
Parent and Acquisition Corp., in accordance with their respective terms.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.13<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Absence of Undisclosed
Liabilities</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Neither Parent nor Acquisition
Corp. has any obligation or liability (whether accrued, absolute, contingent, liquidated or otherwise, whether due or to become
due), arising out of any transaction entered into at or prior to the Closing, except (a)&nbsp;as disclosed in the Parent SEC Documents,
(b)&nbsp;to the extent set forth on or reserved against in the audited balance sheet of Parent as of December&nbsp;31, 2020 (the
&ldquo;Parent Balance Sheet&rdquo;) or the Notes to the Parent Financial Statements, (c)&nbsp;current liabilities incurred and
obligations under agreements entered into in the usual and ordinary course of business since December&nbsp;31, 2020 (the &ldquo;Parent
Balance Sheet Date&rdquo;), none of which (individually or in the aggregate) materially and adversely affects the condition (financial
or otherwise), properties, assets, liabilities, business operations, results of operations or prospects of the Parent or Acquisition
Corp., taken as a whole (the &ldquo;Condition of the Parent&rdquo;), as disclosed on a Schedule&nbsp;attached to this Agreement,
and (e)&nbsp;by the specific terms of any written agreement, document or arrangement attached as an exhibit to the Parent SEC
Documents.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.14<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Changes</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Since
the Parent Balance Sheet Date, except as disclosed in the Parent SEC Documents or on <U>Schedule&nbsp;3.14</U>, the Parent has
not (a)&nbsp;incurred any debts, obligations or liabilities, absolute, accrued or, to the Parent&rsquo;s knowledge, contingent,
whether due or to become due, except for current liabilities incurred in the usual and ordinary course of business, (b)&nbsp;discharged
or satisfied any Liens other than those securing, or paid any obligation or liability other than, current liabilities shown on
the Parent Balance Sheet and current liabilities incurred since the Parent Balance Sheet Date, in each case in the usual and ordinary
course of business, (c)&nbsp;mortgaged, pledged or subjected to Lien any of its assets, tangible or intangible, other than in
the usual and ordinary course of business, (d)&nbsp;sold, transferred or leased any of its assets, except in the usual and ordinary
course of business, (e)&nbsp;cancelled or compromised any debt or claim, or waived or released any right of material value, (f)&nbsp;suffered
any physical damage, destruction or loss (whether or not covered by insurance) which could reasonably be expected to have a material
adverse effect on the Condition of the Parent, (g)&nbsp;entered into any transaction other than in the usual and ordinary course
of business, (h)&nbsp;encountered any labor union difficulties, (i)&nbsp;made or granted any wage or salary increase or made any
increase in the amounts payable under any profit sharing, bonus, deferred compensation, severance pay, insurance, pension, retirement
or other employee benefit plan, agreement or arrangement, other than in the ordinary course of business consistent with past practice,
or entered into any employment agreement, (j) issued or sold any shares of capital stock, bonds, notes, debentures or other securities
or granted any options (including employee stock options), warrants or other rights with respect thereto, (k) declared or paid
any dividends on or made any other distributions with respect to, or purchased or redeemed, any of its outstanding capital stock,
(l) suffered or experienced any change in, or condition affecting, the financial Condition of the Parent other than changes, events
or conditions in the usual and ordinary course of its business, none of which (either by itself or in conjunction with all such
other changes, events and conditions) could reasonably be expected to have a material adverse effect on the Condition of the Parent,
(m)&nbsp;made any change in the accounting principles, methods or practices followed by it or depreciation or amortization policies
or rates theretofore adopted, (n) made or permitted any amendment or termination of any material contract, agreement or license
to which it is a party, (o) suffered any material loss not reflected in the Parent Balance Sheet or its statement of income for
the year ended on the Parent Balance Sheet Date, (p) paid, or made any accrual or arrangement for payment of, bonuses or special
compensation of any kind or any severance or termination pay to any present or former officer, director, employee, stockholder
or consultant, (q) made or agreed to make any charitable contributions or incurred any non-business expenses in excess of $50,000
in the aggregate, or (r) entered into any agreement, or otherwise obligated itself, to do any of the foregoing.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.15<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Tax Returns
and Audits</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All required federal, state
and local Tax Returns of the Parent have been accurately prepared in all material respects and duly and timely filed, and all
federal, state and local Taxes required to be paid with respect to the periods covered by such returns have been paid to the extent
that the same are material and have become due, except where the failure so to file or pay could not reasonably be expected to
have a material adverse effect upon the Condition of the Parent. The Parent is not and has not been delinquent in the payment
of any Tax. The Parent has not had a Tax deficiency assessed against it. None of the Parent&rsquo;s federal income tax returns
nor any state or local income or franchise tax returns has been audited by governmental authorities. The reserves for Taxes reflected
on the Parent Balance Sheet are sufficient for the payment of all unpaid Taxes payable by the Parent with respect to the period
ended on the Parent Balance Sheet Date. There are no federal, state, local or foreign audits, actions, suits, proceedings, investigations,
claims or administrative proceedings relating to Taxes or any Tax Returns of the Parent now pending, and the Parent has not received
any notice of any proposed audits, investigations, claims or administrative proceedings relating to Taxes or any Tax Returns.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.16<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Employee Benefit
Plans; ERISA</U>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Except as disclosed in
the Parent SEC Documents, there are no &ldquo;employee benefit plans&rdquo; (within the meaning of Section&nbsp;3(3)&nbsp;of ERISA)
nor any other employee benefit or fringe benefit arrangements, practices, contracts, policies or programs other than programs
merely involving the regular payment of wages, commissions, or bonuses established, maintained or contributed to by the Parent.
Any plans listed in the Parent SEC Documents are hereinafter referred to as the &ldquo;Parent Employee Benefit Plans.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Any current and prior
material documents, including all amendments thereto, with respect to each Parent Employee Benefit Plan have been given to the
Company or its advisors.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">All Parent Employee Benefit
Plans are in material compliance with the applicable requirements of ERISA, the Code and any other applicable state, federal or
foreign law.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">There are no pending,
or to the knowledge of the Parent, threatened, claims or lawsuits which have been asserted or instituted against any Parent Employee
Benefit Plan, the assets of any of the trusts or funds under the Parent Employee Benefit Plans, the plan sponsor or the plan administrator
of any of the Parent Employee Benefit Plans or against any fiduciary of a Parent Employee Benefit Plan with respect to the operation
of such plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">There is no pending, or
to the knowledge of the Parent, threatened, investigation or pending or possible enforcement action by the Pension Benefit Guaranty
Corporation, the Department of Labor, the Internal Revenue Service or any other government agency with respect to any Parent Employee
Benefit Plan.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No actual or, to the knowledge
of Parent, contingent liability exists with respect to the funding of any Parent Employee Benefit Plan or for any other expense
or obligation of any Parent Employee Benefit Plan, except as disclosed on the financial statements of the Parent or the Parent
SEC Documents, and to the knowledge of the Parent, no contingent liability exists under ERISA with respect to any &ldquo;multi-employer
plan,&rdquo; as defined in Section&nbsp;3(37) or Section&nbsp;4001(a)(3)&nbsp;of ERISA.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.17<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Litigation</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">There
is no legal action, suit, arbitration or other legal, administrative or other governmental proceeding pending or, to the knowledge
of the Parent, threatened against or affecting the Parent or Acquisition Corp. or their properties, assets or business. To the
knowledge of the Parent, neither Parent nor Acquisition Corp. is in default with respect to any order, writ, judgment, injunction,
decree, determination or award of any court or any governmental agency or instrumentality or arbitration authority.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.18<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Interested Party
Transactions</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except as disclosed in
the Parent SEC Documents and on <U>Schedule&nbsp;3.14</U>, no officer, director or stockholder of the Parent or any Affiliate
or &ldquo;associate&rdquo; (as such term is defined in Rule&nbsp;405 under the Securities Act) of any such Person or the Parent
has or has had, either directly or indirectly, (a)&nbsp;an interest in any Person that (i)&nbsp;furnishes or sells services or
products that are furnished or sold or are proposed to be furnished or sold by the Parent or (ii)&nbsp;purchases from or sells
or furnishes to the Parent any goods or services, or (b)&nbsp;a beneficial interest in any contract or agreement to which the
Parent is a party or by which it may be bound or affected.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.19<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Questionable
Payments</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Neither the Parent, Acquisition
Corp. nor to the knowledge of the Parent, any director, officer, agent, employee or other Person associated with or acting on
behalf of the Parent or Acquisition Corp., has used any corporate funds for unlawful contributions, gifts, entertainment or other
unlawful expenses relating to political activity; made any direct or indirect unlawful payments to government officials or employees
from corporate funds; established or maintained any unlawful or unrecorded fund of corporate monies or other assets; made any
false or fictitious entries on the books of record of any such corporations; or made any bribe, rebate, payoff, influence payment,
kickback or other unlawful payment.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.20<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Obligations
to or by Stockholders</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except as disclosed
in the Parent SEC Documents, the Parent has no liability or obligation or commitment to any stockholder of Parent or any Affiliate
or &ldquo;associate&rdquo; (as such term is defined in Rule&nbsp;405 under the Securities Act) of any stockholder of Parent, nor
does any stockholder of Parent or any such Affiliate or associate have any liability, obligation or commitment to the Parent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.21<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Assets and Contracts</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Except
as disclosed in the Parent SEC Documents or on <U>Schedule 3.21</U>, the Parent is not a party to any written or oral agreement
not made in the ordinary course of business that is material to the Parent. Parent does not own any real property. Parent is not
a party to or otherwise bound by any written or oral (a)&nbsp;agreement with any labor union, (b)&nbsp;agreement for the purchase
of fixed assets or for the purchase of materials, supplies or equipment in excess of normal operating requirements, (c)&nbsp;agreement
for the employment of any officer, individual employee or other Person on a full-time basis or any agreement with any Person for
consulting services, (d)&nbsp;bonus, pension, profit sharing, retirement, stock purchase, stock option, deferred compensation,
medical, hospitalization or life insurance or similar plan, contract or understanding with respect to any or all of the employees
of Parent or any other Person, (e)&nbsp;indenture, loan or credit agreement, note agreement, deed of trust, mortgage, security
agreement, promissory note or other agreement or instrument relating to or evidencing Indebtedness for Borrowed Money or subjecting
any asset or property of Parent to any Lien or evidencing any Indebtedness, (f)&nbsp;guaranty of any Indebtedness, (g)&nbsp;lease
or agreement under which Parent is lessee of or holds or operates any property, real or personal, owned by any other Person, (h)&nbsp;lease
or agreement under which Parent is lessor or permits any Person to hold or operate any property, real or personal, owned or controlled
by Parent, (i)&nbsp;agreement granting any preemptive right, right of first refusal or similar right to any Person, (j) agreement
or arrangement with any Affiliate or any &ldquo;associate&rdquo; (as such term is defined in Rule&nbsp;405 under the Securities
Act) of Parent or any present or former officer, director or stockholder of Parent, (k) agreement obligating Parent to pay any
royalty or similar charge for the use or exploitation of any tangible or intangible property, (1)&nbsp;covenant not to compete
or other restriction on its ability to conduct a business or engage in any other activity, (m)&nbsp;distributor, dealer, manufacturer&rsquo;s
representative, sales agency, franchise or advertising contract or commitment, (n) agreement to register securities under the
Securities Act, (o)&nbsp;collective bargaining agreement, or (p) agreement or other commitment or arrangement with any Person
continuing for a period of more than two months from the Closing Date that involves an expenditure or receipt by Parent in excess
of $100,000. Parent has furnished to the Company true and complete copies of all agreements and other documents disclosed or referred
to in <U>Schedule&nbsp;3.21</U>, as well as any additional agreements or documents requested by the Company.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.22<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Employees</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Other
than pursuant to ordinary arrangements of employment compensation, Parent is not under any obligation or liability to any officer,
director, employee or Affiliate of Parent. The Company has no employment agreements with, or any severance payment obligations
to, any of its current or former officers or employees.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.23<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Patents, Trademarks,
Etc</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The Parent SEC Documents disclose
all of Parent&rsquo;s Patent and Trademark rights. Except as disclosed in the Parent SEC Documents, (a)&nbsp;Parent owns or possesses
adequate licenses or other valid rights to use all Patent and Trademark Rights; and (b)&nbsp;to Patent&rsquo;s knowledge, the
conduct of its business as now being conducted does not conflict with any valid patents, trademarks, trade names or copyrights
of others in any way which has a material adverse effect on the business or financial Condition of the Parent or its business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.24<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Disclosure</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">There
is no fact relating to Parent that Parent has not disclosed to the Company in writing or disclosed in Parent SEC Documents or
in any schedules or exhibits attached hereto or incorporated herein that materially and adversely affects nor, insofar as Parent
can now foresee, will materially and adversely affect, the condition (financial or otherwise), properties, assets, liabilities,
business operations, results of operations or prospects of Parent. No representation or warranty by Parent herein and no information
disclosed in the schedules or exhibits hereto by Parent contains any untrue statement of a material fact or omits to state a material
fact necessary to make the statements contained herein or therein not misleading.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.25<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Broker&rsquo;s
and Finder&rsquo;s Fees</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">No Person
has, or as a result of the transactions contemplated herein will have any right or valid claim against Parent or Acquisition Corp.
for any commission, fee or other compensation as a finder or broker, or in any similar capacity.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">3.26<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Controls and
Procedures</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent maintains internal
control over financial reporting that provides assurance that (i) records are maintained in reasonable detail and accurately and
fairly reflect the transactions and dispositions of Parent&rsquo;s assets, (ii) transactions are executed with management&rsquo;s
authorization and (iii) transactions are recorded as necessary to permit preparation of the Parent Financial Statements and to
maintain accountability for Parent&rsquo;s assets. Parent maintains disclosure controls and procedures required by Rules 13a-15
or 15d-15 under the Exchange Act, and such controls and procedures are effective to provide reasonable assurance that material
information concerning Parent is made known on a timely basis to management.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>4.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Investment Letter</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">At
or prior to the Closing, Parent shall have received from each of the Company&rsquo;s shareholders a representation letter in standard
form for private placement transactions under the SEC&rsquo;s Rule 506 (a &ldquo;Representation Letter&rdquo;) agreeing that the
shares of Parent Common Stock to be issued in the merger are, among other things, being acquired for investment purposes and not
with a view to public resale, are being acquired for the shareholder&rsquo;s own account, and that the shares of Parent Common
Stock are restricted and may not be resold without registration, except in reliance on an exemption therefrom under the Securities
Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>5.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Conduct of Businesses
Pending the Merger</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">5.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Conduct of Business
by the Company Pending the Merger</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Prior
to the Effective Time, unless Parent or Acquisition Corp. shall otherwise agree in writing or as otherwise contemplated by this
Agreement or disclosed in any Schedule&nbsp;to this Agreement:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the business of the Company
shall be conducted only in the ordinary course;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the Company shall not
(i)&nbsp;directly or indirectly redeem, purchase or otherwise acquire or agree to redeem, purchase or otherwise acquire any shares
of its capital stock; (ii)&nbsp;amend its Certificate of Incorporation or By-laws; or (iii)&nbsp;split, combine or reclassify
the outstanding Company Common Stock or declare, set aside or pay any dividend payable in cash, stock or property or make any
distribution with respect to any such stock;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the Company shall not
(i)&nbsp;issue or agree to issue any additional shares of, or options, warrants or rights of any kind to acquire any shares of,
Company Common Stock; (ii)&nbsp;acquire or dispose of any fixed assets or acquire or dispose of any other substantial assets other
than in the ordinary course of business; (iii)&nbsp;incur additional Indebtedness or any other liabilities or enter into any other
transaction other than in the ordinary course of business; (iv)&nbsp;enter into any contract, agreement, commitment or arrangement
with respect to any of the foregoing; or (v)&nbsp;except as contemplated by this Agreement, enter into any contract, agreement,
commitment or arrangement to dissolve, merge, consolidate or enter into any other material business combination;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the Company shall use
its best efforts to preserve intact the business organization of the Company, to keep available the service of its present officers
and key employees, and to preserve the good will of those having business relationships with it; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the Company will not enter
into any new employment agreements with any of its officers or employees or grant any increases in the compensation or benefits
of its officers and employees other than increases in the ordinary course of business and consistent with past practice or amend
any employee benefit plan or arrangement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">5.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Conduct of Business
by Parent and Acquisition Corp. Pending the Merger</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
represents and warrants to the Company that Acquisition Corp. has never operated any business. Prior to the Effective Time, unless
the Company shall otherwise agree in writing or as otherwise contemplated by this Agreement or disclosed in any Schedule&nbsp;to
this Agreement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the business of Parent
shall be conducted only in the ordinary course and Acquisition Corp. shall conduct no business;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">neither Parent nor Acquisition
Corp. shall (i)&nbsp;directly or indirectly redeem, purchase or otherwise acquire or agree to redeem, purchase or otherwise acquire
any shares of its capital stock; (ii)&nbsp;amend its articles or certificate of incorporation or by-laws; or (iii)&nbsp;split,
combine or reclassify its capital stock or declare, set aside or pay any dividend payable in cash, stock or property or make any
distribution with respect to such stock;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">neither Parent nor Acquisition
Corp. shall (i)&nbsp;issue or agree to issue any additional shares of, or options, warrants or rights of any kind to acquire shares
of, its capital stock; (ii)&nbsp;acquire or dispose of any assets other than in the ordinary course of business (except for dispositions
in connection with Section&nbsp;5.2(a)&nbsp;hereof); (iii)&nbsp;incur additional Indebtedness or any other liabilities or enter
into any other transaction except in the ordinary course of business; (iv)&nbsp;enter into any contract, agreement, commitment
or arrangement with respect to any of the foregoing, or (v)&nbsp;except as contemplated by this Agreement, enter into any contract,
agreement, commitment or arrangement to dissolve, merge, consolidate or enter into any other material business contract or enter
into any negotiations in connection therewith;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">neither Parent nor Acquisition
Corp. will, nor will they authorize any director or authorize or permit any officer or employee or any attorney, accountant or
other representative retained by them to, make, solicit, encourage any inquiries with respect to, or engage in any negotiations
concerning, any Acquisition Proposal (as defined below for purposes of this paragraph). Parent will promptly advise the Company
orally and in writing of any such inquiries or proposals (or requests for information) and the substance thereof. As used in this
paragraph, &ldquo;Acquisition Proposal&rdquo; shall mean any proposal for a merger or other business combination involving the
Parent or Acquisition Corp. or for the acquisition of a substantial equity interest in either of them or any material assets of
either of them other than as contemplated by this Agreement. Parent will immediately cease and cause to be terminated any existing
activities, discussions or negotiations with any person conducted heretofore with respect to any of the foregoing; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">neither the Parent nor
Acquisition Corp. will enter into any new or amended employment agreements with any of their respective officers or employees
or any other Person or grant any increases in the compensation or benefits of their respective officers or employees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>6.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Additional Agreements</U>.</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Access and Information</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
Company, Parent and Acquisition Corp. shall each afford to the other and to the other&rsquo;s accountants, counsel and other representatives
full access during normal business hours throughout the period prior to the Effective Time of all of its properties, books, contracts,
commitments and records (including but not limited to tax returns) and during such period, each shall furnish promptly to the
other all information concerning its business, properties and personnel as such other party may reasonably request; provided,
that no investigation pursuant to this Section&nbsp;6.1 shall affect any representations or warranties made herein. Each party
shall hold, and shall cause its employees and agents to hold, in confidence all such information (other than such information
which (i)&nbsp;is already in such party&rsquo;s possession or (ii)&nbsp;is or becomes generally available to the public other
than as a result of a disclosure by such party or its directors, officers, managers, employees, agents or advisors, or (iii)&nbsp;becomes
available to such party on a non-confidential basis from a source other than a party hereto or its advisors, provided that such
source is not known by such party to be bound by a confidentiality agreement with or other obligation of secrecy to a party hereto
or another party until such time as such information is otherwise publicly available; provided, however, that (A)&nbsp;any such
information may be disclosed to such party&rsquo;s directors, officers, employees and representatives of such party&rsquo;s advisors
who need to know such information for the purpose of evaluating the transactions contemplated hereby (it being understood that
such directors, officers, employees and representatives shall be informed by such party of the confidential nature of such information),
(B)&nbsp;any disclosure of such information may be made as to which the party hereto furnishing such information has consented
in writing, and (C)&nbsp;any such information may be disclosed pursuant to a judicial, administrative or governmental order or
request; provided, however, that the requested party will promptly so notify the other party so that the other party may seek
a protective order or appropriate remedy and/or waive compliance with this Agreement and if such protective order or other remedy
is not obtained or the other party waives compliance with this provision, the requested party will furnish only that portion of
such information which is legally required and will exercise its best efforts to obtain a protective order or other reliable assurance
that confidential treatment will be accorded the information furnished). If this Agreement is terminated, each party will deliver
to the other all documents and other materials (including copies) obtained by such party or on its behalf from the other party
as a result of this Agreement or in connection herewith, whether so obtained before or after the execution hereof.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.2&nbsp;&nbsp;<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Additional Agreements</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Subject
to the terms and conditions herein provided, each of the parties hereto agrees to use its commercially reasonable best efforts
to take, or cause to be taken, all action and to do, or cause to be done, all things necessary, proper or advisable under applicable
laws and regulations to consummate and make effective the transactions contemplated by this Agreement, including using its commercially
reasonable efforts to satisfy the conditions precedent to the obligations of any of the parties hereto to obtain all necessary
waivers, and to lift any injunction or other legal bar to the Merger (and, in such case, to proceed with the Merger as expeditiously
as possible). In order to obtain any necessary governmental or regulatory action or non-action, waiver, consent, extension or
approval, each of Parent, Acquisition Corp. and the Company agrees to take all reasonable actions and to enter into all reasonable
agreements as may be necessary to obtain timely governmental or regulatory approvals and to take such further action in connection
therewith as may be necessary. In case at any time after the Effective Time any further action is necessary or desirable to carry
out the purposes of this Agreement, the proper officers and/or directors of Parent, Acquisition Corp. and the Company shall take
all such necessary action.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Publicity</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">No
party shall issue any press release or public announcement pertaining to the Merger that has not been agreed upon in advance by
Parent and the Company; provided, however, that this provision shall not prevent any party from making any announcement or filing
any report required by it to be in compliance with any applicable federal or state securities laws, provided further that such
disclosing party shall provide in advance of release a copy of the proposed disclosure to the other party for review and comment.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Appointment
of Officers and Directors</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent shall
accept the resignation of the current officers and directors of Parent as provided by Section&nbsp;7.2(e)iii)&nbsp;hereof, and
shall cause the persons listed as officers and directors in <B>Exhibit&nbsp;&ldquo;B&rdquo;</B> hereto to be elected to such positions,
in each case immediately upon the Effective Time. At the first annual meeting of Parent stockholders and thereafter, the election
of members of Parent&rsquo;s Board of Directors (the &ldquo;Board&rdquo;) shall be accomplished in accordance with the by-laws
of Parent. Notwithstanding the foregoing, for two years following the Closing, one member of the Board shall be either Richard
H. Davis or another person designated by a majority consent of the pre-Merger Parent shareholders and holders of Preferred Stock.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Indemnity Agreements</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
and Company acknowledge that Parent is a party to certain indemnification agreements (the &ldquo;Indemnity Agreements&rdquo;)
in favor of Parent&rsquo;s current and former officers and directors, copies of which have been provided to Company. Parent and
Company agree that these Indemnity Agreements shall survive the Merger and any subsequent merger, reorganization or reincorporation
of Parent, and that Parent and Company shall take no action which will deprive the beneficiaries of these Indemnification Agreements
of the benefits and protections thereof, nor shall Parent or Company take any action intended to or effecting any change, limitation,
termination or other modification of the rights and duties of any party under such Indemnity Agreements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Parent Post-Closing
Capitalization Table</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Attached hereto
as <B>Exhibit&nbsp;&ldquo;C&rdquo;</B> is a table showing the capitalization of Parent after consummation of the Merger and the
transactions contemplated herein, including the issuance of shares of Series D Convertible Preferred Stock (the &ldquo;Preferred
Stock&rdquo;) at the Effective Time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Form D Filing</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
shall make any filings required by the private placement of the Parent Common Stock in the Merger, including a Form D, with applicable
federal and state securities authorities within the required timeframe.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>No Integrated
Offerings</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Neither the Company
nor Acquisition Corp. nor any Person acting on its or their behalf has or will, directly or indirectly, made or make any offers
or sales of any security or solicited any offers to buy any security, under circumstances that would cause the Parent Common Stock
to be issued in the Merger to be integrated with prior offerings by the Company for purposes of the Securities Act which would
require the registration of any such shares of Parent Common Stock under the Securities Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">6.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Name Change</U></FONT>.&nbsp;<FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Promptly
following the Closing, the Surviving Corporation shall change its name to 374Water Systems Inc.&rdquo;, and Parent shall change
its name to &ldquo;374Water Inc.&rdquo;.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>7.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Conditions of
Parties&rsquo; Obligations</U>.</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">7.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Company Obligations</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
obligations of Parent and Acquisition Corp. under this Agreement and the Certificate of Merger are subject to the fulfillment
at or prior to the Closing of the following conditions, any of which may be waived in whole or in part by Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Errors, etc. The representations
and warranties of the Company under this Agreement shall be deemed to have been made again on the Closing Date and shall then
be true and correct in all material respects (or, to the extent representations or warranties are qualified by materiality or
material adverse change in the Condition of the Company, in all respects).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Compliance with Agreement.
The Company shall have performed and complied in all material respects with all agreements and conditions required by this Agreement
to be performed or complied with by it on or before the Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Default or Adverse
Change. There shall not exist on the Closing Date any Default or Event of Default or any event or condition that, with the giving
of notice or lapse of time, or both, would constitute a Default or Event of Default, and since the Balance Sheet Date, there shall
have been no material adverse change in the Condition of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Restraining Action.
No action or proceeding before any court, governmental body or agency shall have been threatened, asserted or instituted to restrain
or prohibit, or to obtain substantial damages in respect of, this Agreement or the Certificate of Merger or the carrying out of
the transactions contemplated by the Merger Documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Supporting Documents.
Parent and Acquisition Corp. shall have received the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(i)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Copies of resolutions
of the Board of Directors and the Stockholders of the Company authorizing and approving the execution, delivery and performance
of the Merger Documents and all other documents and instruments to be delivered pursuant hereto and thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(ii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">A certificate, dated the
Closing Date, executed by the Company&rsquo;s President and Chief Executive Officer, certifying as to satisfaction of the conditions
set forth in <U>Section 7.1(c)</U> and certifying that, except for the filing of the Certificate of Merger: (i)&nbsp;all consents,
authorizations, orders and approvals of, and filings and registrations with, any court, governmental body or instrumentality that
are required for the execution and delivery of this Agreeme<FONT STYLE="color: black">nt and the Certificate of Merger and the
consummation of the Merger shall have been duly made or obtained, the approval of the Merger by the Stockholders as required by
the DGCL has been received, and all material consents by third parties that are required for the Merger have been obtained; and
(ii)&nbsp;no action or proceeding before any court, governmental body or agency has been threatened, asserted or instituted to
restrain or prohibit, or to obtain substantial damages in respect of, this Agreement or the Certificate of Merger or the carrying
out of the transactions contemplated by the Merger Documents.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(iii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Evidence as of a date
within 10&nbsp;days of the Effective Time of the good standing and corporate existence of the Company issued by the Secretary
of State of the State of Delaware.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(iv)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Nagar Employment Agreement
duly executed by Yaacov Nagar.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(v)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Deshusses Employment
Agreement duly executed by Marc Deshusses, Ph.D.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(vi)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Such additional supporting
documentation and other information with respect to the transactions contemplated hereby as Parent and Acquisition Corp. may reasonably
request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Proceedings and Documents.
All corporate and other proceedings and actions taken in connection with the transactions contemplated hereby and all certificates,
opinions, agreements, instruments and documents mentioned herein or incident to any such transactions shall be reasonably satisfactory
in form and substance to Parent and Acquisition Corp. The Company shall furnish to Parent and Acquisition Corp. such supporting
documentation and evidence of the satisfaction of any or all of the conditions precedent specified in this Section&nbsp;7.1 as
Parent or its counsel may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">7.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Parent and Acquisition
Corp. Obligations</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The obligations of
the Company under this Agreement and the Certificate of Merger are subject to the fulfillment at or prior to the Closing of the
following conditions, any of which may be waived in whole or in part by the Company:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Errors, etc. The representations
and warranties of Parent and Acquisition Corp. under this Agreement shall be deemed to have been made again on the Closing Date
and shall then be true and correct in all material respects (or, to the extent representations or warranties are qualified by
materiality or material adverse change in the Condition of the Parent, in all respects).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Compliance with Agreement.
Parent and Acquisition Corp. shall have performed and complied in all material respects with all agreements and conditions required
by this Agreement and the Certificate of Merger to be performed or complied with by them on or before the Closing Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Closing of Private Placement.
Parent shall have closed on a private placement of at least 419,500 shares of Preferred Stock yielding net proceeds to Parent
of at least $6,250,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Default or Adverse
Change. There shall not exist on the Closing Date any Default or Event of Default or any event or condition, that with the giving
of notice or lapse of time, or both, would constitute a Default of Event of Default, and since the Parent Balance Sheet Date,
there shall have been no material adverse change in the Condition of the Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Supporting Documents.
The Company shall have received the following, each in form and substance reasonably satisfactory to the Company and its counsel:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(i)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Copies of resolutions
of Parent&rsquo;s and Acquisition Corp.&rsquo;s respective boards of directors and the sole shareholder of Acquisition Corp.,
authorizing and approving, to the extent applicable, the execution, delivery and performance of this Agreement, the Certificate
of Merger and all other documents and instruments to be delivered by them pursuant hereto and thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(ii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">A certificate, dated the
Closing Date, executed by Richard H. Davis, as Director of each of the Parent and Acquisition Corp., certifying as to satisfaction
of the conditions set forth in <U>Section 7.2(c)</U> and certifying that, except for the filing of the Certificate of Merger:
(i)&nbsp;all consents, authorizations, orders and approvals of, and filings and registrations with, any court, governmental body
or instrumentality that are required for the execution and delivery of this Agreement and the Certificate of Merger and the consummation
of the Merger shall have been duly made or obtained, and all material consents by third parties required for the Merger have been
obtained; and (ii)&nbsp;no action or proceeding before any court, governmental body or agency has been threatened, asserted or
instituted to restrain or prohibit, or to obtain substantial damages in respect of, this Agreement or the Certificate of Merger
or the carrying out of the transactions contemplated by any of the Merger Documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(iii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The executed resignations
of the Parent&rsquo;s and Acquisition Corp.&rsquo;s respective Boards of Directors and Executive Officers, with the resignations
to take effect at the Effective Time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(iv)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Evidence as of a date
within 10&nbsp;days of the Effective Time of the good standing and corporate existence of Parent issued by the Secretary of State
of Delaware.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(v)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Evidence as of a date
within 10&nbsp;days of the Effective Time of the good standing and corporate existence of Acquisition Corp. issued by the Secretary
of State of Delaware.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(vi)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Nagar Employment Agreement
duly executed by the Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(vii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The Deshusses Employment
Agreement duly executed by the Parent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(viii)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Such additional supporting
documentation and other information with respect to the transactions contemplated hereby as the Company may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No Restraining Action.
No action or proceeding before any court, governmental body or agency shall have been threatened, asserted or instituted to restrain
or prohibit, or to obtain substantial damages in respect of, this Agreement or the Certificate of Merger or the carrying out of
the transactions contemplated by the Merger Documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(g)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Proceedings and Documents.
All corporate and other proceedings and actions taken in connection with the transactions contemplated hereby and all certificates,
opinions, agreements, instruments and documents mentioned herein or incident to any such transactions shall be satisfactory in
form and substance to the Company. Parent and Acquisition Corp. shall furnish to the Company such supporting documentation and
evidence of satisfaction of any or all of the conditions specified in this Section&nbsp;7.2 as the Company may reasonably request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>8.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Survival of
Representations and Warranties</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
representations and warranties of the parties made in Sections 2 and 3 of this Agreement (including the Schedules to the Agreement
which are hereby incorporated by reference) shall survive for 24 months beyond the Effective Time. This Section&nbsp;8 shall not
limit any claim for fraud or any covenant or agreement of the parties which by its terms contemplates performance after the Effective
Time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>9.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Amendment of
Agreement</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This
Agreement and the Certificate of Merger may be amended or modified at any time in all respects by an instrument in writing executed
(i)&nbsp;in the case of this Agreement by the parties hereto and (ii)&nbsp;in the case of the Certificate of Merger by the parties
thereto.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>10.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Definitions</U>.&nbsp;</FONT></B><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Unless
the context otherwise requires, the terms defined in this Section&nbsp;10 shall have the meanings herein specified for all purposes
of this Agreement, applicable to both the singular and plural forms of any of the terms herein defined.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Acquisition
Corp.&rdquo; means 374WATER ACQUISITION CORP., a Delaware corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Acquisition
Proposal&rdquo; shall have the meaning assigned to such term in Section&nbsp;5.2(d)&nbsp;hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Affiliate&rdquo;
shall mean any Person that directly or indirectly controls, is controlled by, or is under common control with, the indicated Person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Agreement&rdquo;
shall mean this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Balance
Sheet&rdquo; and &ldquo;Balance Sheet Date&rdquo; shall have the meanings assigned to such terms in Section&nbsp;2.9 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Benefit
Arrangements&rdquo; shall have the meaning assigned to it in Section&nbsp;2.12 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Certificate
of Merger&rdquo; shall have the meaning assigned to it in the second recital of this Agreement. &ldquo;Closing&rdquo; and &ldquo;Closing
Date&rdquo; shall have the meanings assigned to such terms in Section&nbsp;11 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Closing&rdquo;
shall mean the closing of the Merger and the other transactions contemplated by this Agreement, which shall take place at the
Effective Time.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Code&rdquo;
shall mean the Internal Revenue Code of 1986, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Commission&rdquo;
or &ldquo;SEC&rdquo; shall mean the U.S. Securities and Exchange Commission.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Company&rdquo;
shall mean 374Water, Inc., a Delaware corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Company
Common Stock&rdquo; shall have the meaning assigned to it in Section&nbsp;1.5(a)(ii).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Company
Benefit Plans&rdquo; shall have the meaning assigned to it in Section&nbsp;2.13 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Company
Disclosure Schedule&rdquo; shall mean a schedule of exceptions and other information regarding the Company and delivered to Parent
by the Company pursuant to Section 2 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Condition
of the Company&rdquo; shall have the meaning assigned to it in Section&nbsp;2.2 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Condition
of the Parent&rdquo; shall have the meaning assigned to it in Section&nbsp;3.13 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Constituent
Corporations&rdquo; shall have the meaning assigned to it in Section&nbsp;1.4 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Default&rdquo;
shall mean a default or failure in the due observance or performance of any covenant, condition or agreement on the part of the
Company to be observed or performed under the terms of this Agreement or the Certificate of Merger, if such default or failure
in performance shall remain unremedied for five days.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Deshusses
Employment Agreement&rdquo; shall mean a two-year agreement between the Parent and Marc Deshusses, Ph.D (&ldquo;Deshusses&rdquo;)
for Deshusses to serve on a part time basis as Head of Technology of the Parent at an annual salary of $60,000 and on such other
terms and conditions are reasonably acceptable to Parent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;DGCL&rdquo;
shall have the meaning assigned to it in the second recital hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Effective
Time&rdquo; shall have the meaning assigned to it in Section&nbsp;1.2 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Equity
Security&rdquo; shall mean any stock or similar security of an issuer or any security (whether stock or Indebtedness for Borrowed
Money) convertible, with or without consideration, into any stock or similar equity security, or any security (whether stock or
Indebtedness for Borrowed Money) carrying any warrant or right to subscribe to or purchase any stock or similar security, or any
such warrant or right.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;ERISA&rdquo;
shall have the meaning assigned to it in Section&nbsp;2.13 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Exchange
Act&rdquo; shall mean the Securities Exchange Act of 1934, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Event
of Default&rdquo; shall mean (a)&nbsp;the failure of the Company to pay any Indebtedness for Borrowed Money, or any interest or
premium thereon, within five days after the same shall become due, whether such Indebtedness shall become due by scheduled maturity,
by required prepayment, by acceleration, by demand or otherwise, (b)&nbsp;an event of default under any agreement or instrument
evidencing or securing or relating to any such Indebtedness, or (c)&nbsp;the failure of the Company to perform or observe any
material term, covenant, agreement or condition on its part to be performed or observed under any agreement or instrument evidencing
or securing or relating to any such Indebtedness when such term, covenant or agreement is required to be performed or observed.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Indebtedness&rdquo;
shall mean any obligation of the Company which under generally accepted accounting principles is required to be shown on the balance
sheet of the Company as a liability. Any obligation secured by a Lien on, or payable out of the proceeds of production from, property
of the Company shall be deemed to be Indebtedness even though such obligation is not assumed by the Company.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Indebtedness
for Borrowed Money&rdquo; shall mean (a)&nbsp;all Indebtedness in respect of money borrowed including, without limitation, Indebtedness
which represents the unpaid amount of the purchase price of any property and is incurred in lieu of borrowing money or using available
funds to pay such amounts and not constituting an account payable or expense accrual incurred or assumed in the ordinary course
of business of the Company, (b)&nbsp;all Indebtedness evidenced by a promissory note, bond or similar written obligation to pay
money, or (c)&nbsp;all such Indebtedness guaranteed by the Company or for which the Company is otherwise contingently liable.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Investment
Company Act&rdquo; shall mean the Investment Company Act of 1940, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Knowledge&rdquo;
and &ldquo;know&rdquo; means, when referring to any person or entity, the actual knowledge of such person or entity of a particular
matter or fact, and what that person or entity would have reasonably known after reasonable inquiry. An entity will be deemed
to have &ldquo;knowledge&rdquo; of a particular fact or other matter if any individual who is serving, or who has served, as an
executive officer of such entity has actual &ldquo;knowledge&rdquo; of such fact or other matter, or had actual &ldquo;knowledge&rdquo;
during the time of such service of such fact or other matter, or would have had &ldquo;knowledge&rdquo; of such particular fact
or matter after reasonable inquiry.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Lien&rdquo;
shall mean any mortgage, pledge, security interest, encumbrance, lien or charge of any kind, including, without limitation, any
conditional sale or other title retention agreement, any lease in the nature thereof and the filing of or agreement to give any
financing statement under the Uniform Commercial Code of any jurisdiction and including any lien or charge arising by statute
or other law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Merger&rdquo;
shall have the meaning assigned to it in the first recital hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Merger
Documents&rdquo; shall have the meaning assigned to it in Section&nbsp;2.5 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Nagar
Employment Agreement&rdquo; shall mean a two-year agreement between the Parent and Yaacov Nagar (&ldquo;Nagar&rdquo;) for Nagar
to serve as CEO of the Parent at an annual salary of $200,000 and on such other terms and conditions as are reasonably acceptable
to Parent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent&rdquo;
shall mean PowerVerde, Inc., a Delaware corporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent
Balance Sheet&rdquo; and &ldquo;Parent Balance Sheet Date&rdquo; shall have the meanings assigned to them in Section&nbsp;3.13
hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent
Common Stock&rdquo; shall have the meaning assigned to it in Section&nbsp;3.4 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent
Employee Benefit Plans&rdquo; shall have the meaning assigned to it in Section&nbsp;3.16 hereof.</FONT></P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent
Financial Statements&rdquo; shall have the meaning assigned to it in Section&nbsp;3.8 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Parent
SEC Documents&rdquo; shall have the meaning assigned to it in Section&nbsp;3.7(a)&nbsp;hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Patent
and Trademark Rights&rdquo; shall have the meaning assigned to it in Section&nbsp;2.16 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Permitted
Liens&rdquo; shall mean (a)&nbsp;Liens for taxes and assessments or governmental charges or levies not at the time due or in respect
of which the validity thereof shall currently be contested in good faith by appropriate proceedings; (b)&nbsp;Liens in respect
of pledges or deposits under workmen&rsquo;s compensation laws or similar legislation, carriers&rsquo;, warehousemen&rsquo;s,
mechanics&rsquo;, laborers&rsquo; and materialmens&rsquo; and similar Liens, if the obligations secured by such Liens are not
then delinquent or are being contested in good faith by appropriate proceedings; and (c)&nbsp;Liens incidental to the conduct
of the business of the Company that were not incurred in connection with the borrowing of money or the obtaining of advances or
credits and which do not in the aggregate materially detract from the value of its property or materially impair the use made
thereof by the Company in its business.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Person&rdquo;
shall include all natural persons, corporations, business trusts, associations, limited liability companies, partnerships, joint
ventures and other entities and governments and agencies and political subdivisions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Preferred
Stock&rdquo; shall have the meaning assigned to it in Section 6.6 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Representation
Letter&rdquo; shall have the meaning assigned to it in Section&nbsp;4 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Securities
Act&rdquo; shall mean the Securities Act of 1933, as amended.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Stockholders&rdquo;
shall mean all of the stockholders of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Surviving
Corporation&rdquo; shall have the meaning assigned to it in Section&nbsp;1.1 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Tax&rdquo;
or &ldquo;Taxes&rdquo; shall mean (a)&nbsp;any and all taxes, assessments, customs, duties, levies, fees, tariffs, imposts, deficiencies
and other governmental charges of any kind whatsoever (including, but not limited to, taxes on or with respect to net or gross
income, franchise, profits, gross receipts, capital, sales, use, ad valorem, value added, transfer, real property transfer, transfer
gains, transfer taxes, inventory, capital stock, license, payroll, employment, social security, unemployment, severance, occupation,
real or personal property, estimated taxes, rent, excise, occupancy, recordation, bulk transfer, intangibles, alternative minimum,
doing business, withholding and stamp), together with any interest thereon, penalties, fines, damages costs, fees, additions to
tax or additional amounts with respect thereto, imposed by the United States (federal, state or local) or other applicable jurisdiction;
(b)&nbsp;any liability for the payment of any amounts described in clause (a)&nbsp;as a result of being a member of an affiliated,
consolidated, combined, unitary or similar group or as a result of transferor or successor liability, including, without limitation,
by reason of Regulation section&nbsp;1.1502-6; and (c)&nbsp;any liability for the payments of any amounts as a result of being
a party to any Tax Sharing Agreement or as a result of any express or implied obligation to indemnify any other Person with respect
to the payment of any amounts of the type described in clause (a)&nbsp;or (b).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Tax
Return&rdquo; shall include all returns and reports (including elections, declarations, disclosures, schedules, estimates and
information returns (including Form&nbsp;1099 and partnership returns filed on Form&nbsp;1065)) required to be supplied to a Tax
authority relating to Taxes.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;US
GAAP&rdquo; shall have the meaning assigned to it in Section&nbsp;2.9 hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>11.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Closing</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
closing of the Merger (the &ldquo;Closing&rdquo;) shall occur concurrently with the Effective Time (the &ldquo;Closing Date&rdquo;).
The Closing shall occur at the offices of Carlton Fields, P.A., 700 NW 1<SUP>st</SUP> Avenue, Suite 1200, Miami, Florida 33136.
At the Closing, Parent shall present for delivery to each Stockholder the certificate representing the Parent Common Stock to
be issued pursuant to Section&nbsp;1.5(a)(ii)&nbsp;hereof to them pursuant to Sections 1.6 and 4 hereof. Such presentment for
delivery shall be against delivery to Parent and Acquisition Corp. of the certificates, agreements and other instruments referred
to in Section&nbsp;7.1 hereof, and the certificates representing all of the Company Common Stock issued and outstanding immediately
prior to the Effective Time. Parent will deliver at such Closing to the Company the officers&rsquo; certificate referred to in
Section&nbsp;7.2 hereof. All of the other documents, certificates and agreements referenced in Section&nbsp;7 will also be executed
as described therein. At the Effective Time, all actions to be taken at the Closing shall be deemed to be taken simultaneously.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>12.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Termination
Prior to and After Closing</U></FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">12.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Termination
of Agreement</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement may be
terminated at any time prior to the Closing:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By the mutual written
consent of the Company, Acquisition Corp. and Parent;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">By the Company,
if Parent or Acquisition Corp. (i)&nbsp;fails to perform in any material respect any of its agreements contained herein required
to be performed by it on or prior to the Closing Date, or (ii)&nbsp;materially breaches any of its representations, warranties
or covenants contained herein;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By either the Company,
on the one hand, or Parent and Acquisition Corp., on the other hand, if there shall be any order, writ, injunction or decree of
any court or governmental or regulatory agency binding on Parent, Acquisition Corp. or the Company, which prohibits or materially
restrains any of them from consummating the transactions contemplated hereby; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By either the Company,
on the one hand, or Parent and Acquisition Corp., on the other hand, if the Closing has not occurred on or prior to April 16,
2021, for any reason other then a breach by the terminating party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">12.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Termination
of Obligations</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Termination of this
Agreement pursuant to this Section&nbsp;12 shall terminate all obligations of the parties hereunder, except for the obligations
under Sections 6.1, 13.3 and 13.9; provided, however, that termination pursuant to paragraphs (b)&nbsp;or (c)&nbsp;of Section&nbsp;12.1
shall not relieve the defaulting or breaching party or parties from any liability to the other parties hereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>13.</B></FONT><B><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; color: #010000; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></B><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Miscellaneous</U>.</FONT></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.1<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Notices</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All
notices, consents, waivers and other communications required or permitted under this Agreement must be in writing and will be
deemed to have been given by a party when delivered (i)&nbsp;by hand; (ii)&nbsp;by a nationally recognized overnight courier service;
or (iii)&nbsp;by email to the following addresses or email addresses marked to the attention of the person (by name or title)
designated below (or to such other address or person as a party may designate by notice to the other parties)</FONT></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 26%; text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">If to Parent</FONT></TD>
<TD STYLE="width: 74%; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">or Acquisition Corp.:</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">PowerVerde, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; layout-grid-mode: line; font-weight: bold"><FONT STYLE="font: normal 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">9300 S. Dadeland Blvd.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="font-family: Arial, Helvetica, Sans-Serif; text-align: left; layout-grid-mode: line; font-weight: bold"><FONT STYLE="font: normal 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">Suite 600</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Miami, Florida 33156</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">darbyric@gmail.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Attn: Richard H. Davis, CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">darbyric@gmail.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">With a copy to:</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Robert B. Macaulay, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Carlton Fields, P.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">700 NW 1<SUP>st</SUP> Avenue</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Suite 1200</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Miami, Florida 33136</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">rmacaulay@carltonfields.com</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 26%; text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">If
    to the Company:</FONT></TD>
    <TD STYLE="width: 74%; text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">374Water,
    Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">12 Upchurch Circle</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Phoenix, Arizona 85027</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Durham,
    North Carolina 27705</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Attn:
    Yaacov Nagar, CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">kn@374water.com</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;With
    a copy to:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Wyrick
    Robbins Yates &amp; Ponton LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">4101
    Lake Boone Trail, Suite 300</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Raleigh,
    NC 27607</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Attn:
    Larry Robbins</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">lrobbins@wyrick.com</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.2<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Entire Agreement;
Assignment</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement, including
the schedules and exhibits attached hereto and other documents referred to herein, contains the entire understanding of the parties
hereto with respect to the subject matter hereof. This Agreement supersedes all prior agreements and undertakings between the
parties with respect to such subject matter, including, but not limited to, the Binding Letter of Intent dated as of September
20, 2020. This Agreement shall not be assigned by any party hereto (whether by operation of law or otherwise) other than with
the prior written consent of Parent, Acquisition Corp. and the Company. Any attempted assignment of this Agreement not in accordance
with the terms of this Section 13.2 shall be void.</FONT></P>

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

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

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    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.3<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Expenses</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Parent
shall bear and pay all of the legal, accounting and other expenses incurred by Parent and by Company in connection with the transactions
contemplated by this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.4<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Time</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Time
is of the essence in the performance of the parties&rsquo; respective obligations herein contained.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.5<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Severability</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.6<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Successors and
Assigns</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement shall be binding
upon and inure to the benefit of the parties hereto and their respective permitted successors, assigns and heirs.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.7<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>No Third Parties
Benefited</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement is made and
entered into for the sole protection and benefit of the parties hereto, their permitted successors, assigns and heirs, and no
other Person shall have any right or action under this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.8<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Counterparts;
Signature by Facsimile</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement
may be executed in counterparts, each of which shall be deemed an original and all of which, when taken together, shall be deemed
to constitute one and the same instrument. The exchange of copies of this Agreement and of signature pages&nbsp;by facsimile transmission
shall constitute effective execution and delivery of this Agreement as to the parties and may be used in lieu of the original
Agreement for all purposes. Signatures of the parties transmitted by facsimile or by PDF file shall be deemed to be their original
signatures for all purposes.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.9<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Governing Law</U>.&nbsp;The
laws of the state of Delaware (without giving effect to its conflicts of laws principles) govern all matters arising out of or
relating to this Agreement and all of the transactions it contemplates including without limitation, its validity, interpretation,
construction, performance, and enforcement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="color: #010000; letter-spacing: normal; word-spacing: normal; line-height: normal">13.10<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Venue; Submission
to Jurisdiction</U>.&nbsp;</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Any action or proceeding
arising out of or relating to this Agreement or arising out of or in any manner relating to the relationship between the parties
shall only be brought in the state or federal courts in the State of Delaware, and each of the parties hereto submits to the personal
jurisdiction of such courts (and of the appropriate appellate courts wherever located) in any such action or proceeding, and selects
the courts in the State of Delaware, for proper venue in any such action or proceeding. The prevailing party in any legal dispute
shall be entitled to recover its reasonable attorney&rsquo;s fees and costs, including expert witness fees and all costs of court,
whether or not assessable under applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I></I></FONT></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">IN
WITNESS WHEREOF, the parties hereto have executed this Agreement to be binding and effective as of the day and year first above
written.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>PARENT:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">POWERVERDE, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">a Delaware corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">/s/ Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Name: </FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Title: </FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>ACQUISITION CORP.:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">374WATER ACQUISITION CORP.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">a Delaware corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">/s/ Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Name:</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Title: </FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>COMPANY:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">374WATER, INC.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">a Delaware corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">By:</FONT></TD>
<TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">/s/ Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Name: </FONT></TD>
<TD><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Title: </FONT></TD>
<TD STYLE="width: 43%"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO</FONT></TD></TR>
</TABLE>


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

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

<!-- Field: Page; Sequence: 37; Value: 1 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>EXHIBIT&nbsp;&ldquo;A&rdquo;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>CERTIFICATE
OF MERGER OF</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>DOMESTIC
CORPORATIONS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Pursuant
to Title 8, Section&nbsp;251(c)&nbsp;of the Delaware General Corporation Law, the undersigned corporation executed the following
Certificate of Merger:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>FIRST</B>:
The name of the surviving Delaware corporation is 374Water Inc., and the name of the Delaware corporation being merged into this
surviving corporation is 374Water Acquisition Corp..</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>SECOND</B>:
The Agreement of Merger has been approved, adopted, certified, executed and acknowledged by each of the constituent corporations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>THIRD</B>:
The name of the surviving Delaware corporation is 374Water, Inc.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>FOURTH</B>:
The Certificate of Incorporation of the surviving corporation shall be its Certificate of Incorporation.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>FIFTH:
</B>The merger is to become effective immediately upon filing of this Certificate of Merger.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in"><FONT STYLE="color: black; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>SIXTH</B>:
The Agreement of Merger is on file at </FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">12
Upchurch Circle, Durham, NC 27705<FONT STYLE="color: black">, the place of business of the surviving corporation.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>SEVENTH</B>:
A copy of the Agreement of Merger will be furnished by the surviving corporation on request, without cost, to any stockholder
of the constituent corporations.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>IN
WITNESS WHEREOF</B>, said surviving corporation has caused this certificate to be signed by an authorized officer, the ____day
of April, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">374WATER, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="width: 5%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="width: 45%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">By:</FONT></TD>
<TD STYLE="border-bottom: black 1pt solid; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Name:</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: normal; word-spacing: normal; line-height: normal">Title:</FONT></TD>
<TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>EXHIBIT&nbsp;&ldquo;B&rdquo;</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>POST-CLOSING
PARENT AND SURVIVING CORPORATION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>OFFICERS
AND DIRECTORS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>PARENT</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Name</U></B></FONT></TD>
    <TD STYLE="width: 50%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Position(s)</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Yaacov
    Nagar</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO,
    Secretary, Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">John
    Hofmann</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CFO</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Marc
    Deshusses</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Director</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Richard
    H. Davis</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Director</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>SURVIVING
CORPORATION</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Name</U></B></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Position(s)</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Yaacov
    Nagar</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO,
    Secretary</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">John
    Hofmann</FONT></TD>
    <TD STYLE="padding-right: 0; padding-left: 0; padding-top: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CFO</FONT></TD></TR>
</TABLE>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>EXHIBIT&nbsp;&ldquo;C&rdquo;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>PARENT
POST-CLOSING CAPITALIZATION TABLE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; padding: 0; text-indent: 0">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">No. of Shares<BR> or Share Equivalents</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>Fully Diluted</B></FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><BR> <FONT STYLE="font-size: 10pt"><B><U STYLE="text-decoration: none">Percent</U></B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0; width: 5%"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">I.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0; padding: 0; width: 51%"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Common Stock</FONT></TD><TD STYLE="font-weight: bold; width: 8%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; width: 12%">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-weight: bold; width: 8%">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; width: 1%">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right; width: 12%">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left; width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Original Parent Shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,878,060</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21.4</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Parent Convertible Notes</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,325,452</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="text-align: left; padding: 0; text-indent: 0">Former 374Water, Inc. Shareholders</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">64,012,734</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">49.1</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">II.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0; padding: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Series D Convertible Preferred
Stock</FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">21,472,533</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">16.5</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: 0; padding: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">III.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;
</FONT></TD>
    <TD STYLE="text-align: left; text-indent: 0; padding: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Parent Options and Warrants </FONT></TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,800,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9.0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 0 10pt; text-indent: 0">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">130,489,279</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Schedule
3.14</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Parent
Changes</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">None</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Schedule
3.21</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B><U>Parent
Assets and Contracts</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">None</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">A-5</P>

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

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.4
<SEQUENCE>5
<FILENAME>ex10_2.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 10pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.2</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">THIS EMPLOYMENT AGREEMENT
(&ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of the 16<SUP>th</SUP> day of April, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;),
and is by and between <B>374WATER INC.</B>, a Delaware corporation f/k/a <B>POWERVERDE, INC.</B> (the &ldquo;<U>Company</U>&rdquo;),
and <B>YAACOV NAGAR</B>, an individual (the &ldquo;<U>Employee</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>R E C I T A L S</U></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify">The Employee possesses knowledge and skills which the Company believes will be of substantial benefit
to its operations and success, and the Company desires to employ the Employee on the terms and conditions set forth below.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify">The Employee is willing to make the Employee&rsquo;s services available to the Company on the terms and
conditions set forth below.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the premises and mutual covenants set forth herein, the parties agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Employment</U>. The Company hereby agrees to employ the Employee and the Employee hereby
agrees to serve the Company on the terms and conditions set forth herein. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Duties of Employee</U>. During the Employment Period (as defined in Section 3, below),
the Employee shall serve as Chief Executive Officer (CEO) of the Company. The Employee shall diligently perform all services reasonably
required of him in his capacity as CEO of the Company and shall exercise such power and authority as is customarily associated
with the CEO of a comparable company, consistent with applicable law and the authorizations and instructions given from time to
time by the Company&rsquo;s Board of Directors (the &ldquo;Board&rdquo;). During the Employment Period, the Employee will faithfully carry
out his responsibilities and provide services to the Company on a full time basis. In addition, the Employee shall act in accordance
with (i) standing instructions for the position which may be issued by the Company from time to time; (ii) all reasonable and lawful
requests, directions and/or restrictions imposed by the Company; and (iii) all policies of the Company as prescribed from time
to time. Upon termination of employment, the Employee shall return all Company equipment and other Company property in the Employee&rsquo;s
possession, custody or control. Notwithstanding the foregoing, Employee may continue his affiliation with Duke University consistent
with past practice.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Term</U>. The Employee shall be employed by the Company commencing on the Effective Date
of this Agreement. The Employee&rsquo;s employment by the Company shall continue for a period of two years (the &ldquo;<U>Initial Term</U>&rdquo;),
unless this Agreement is terminated first pursuant to Section 6 below. If not previously terminated, at the end of the Initial
Term the Agreement shall be automatically renewed for an additional term of two years unless either party provides notice of non-renewal
at least six months before the end of such term, and it may similarly be renewed for future one-year terms (&ldquo;<U>Renewal Terms</U>&rdquo;)
until the Agreement is terminated pursuant to Section 6. The entire term of the Agreement (comprised of that part of the Initial
Term, and any Renewal Terms, prior to termination) shall be referred to in this Agreement as the &ldquo;<U>Term</U>&rdquo; or the
&ldquo;<U>Employment Period</U>.&rdquo; For all purposes of the Agreement, no termination of the Employee&rsquo;s employment shall be deemed
to have occurred if the Employee is transferred during the Employment Period to any business entity which is an Affiliate of the
Company. As used in this Agreement, the term &ldquo;<U>Affiliate</U>&rdquo; means, with respect to any specified person or entity
(&ldquo;<U>Person</U>&rdquo;), any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with, such specified Person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Compensation; Benefits</U>. The Employee shall receive compensation of $200,000 per year
by the Company during the Initial Term (the &ldquo;<U>Base Salary</U>&rdquo;), with such Compensation payable in installments consistent
with the Company&rsquo;s normal payroll schedule, subject to applicable withholding and other taxes as shall be required by applicable
law. In addition, Employee shall be eligible for (i) bonuses, stock options and/or other incentive compensation in the discretion
of the Board, and (ii) health insurance benefits and other employment benefits in accordance with plans established by the Company
for its executive employees from time to time.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Expense Reimbursement</U>. Subject to such reasonable rules and guidelines as the Company
may from time to time adopt for its employees generally, the Company shall reimburse the Employee for all reasonable expenses actually
paid or incurred by the Employee during the Term of Employment in the course of and pursuant to the business of the Company. The
Employee shall account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the Company
copies of all relevant invoices, receipts or other evidence reasonably requested by the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.75pt">6.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.75pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt"><U>Termination.</U><B> </B></FONT><FONT STYLE="font-size: 10pt"><U>Employee&rsquo;s</U><FONT STYLE="color: black; letter-spacing: 0.3pt">
employment may be terminated in any one of the </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.2pt">following
ways:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.75pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Termination by the Company &ldquo;For Cause</U></I>.&rdquo; The Company may terminate
the employment upon written notice to Employee &ldquo;for cause,&rdquo; which shall be:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s material breach of this Agreement, which is not cured within 30 days following
written notice to Employee;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s gross negligence in the performance of his duties hereunder, intentional nonperformance
or mis-performance of such duties, or refusal to abide by or comply with the directives of the Board, or with the Company&rsquo;s policies
and procedures, which is not cured within 30 days following written notice to Employee;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s willful dishonesty, fraud, or misconduct with respect to the business or affairs
of the Company, or any of its affiliates, that in the judgment of the Company would materially and adversely affect the operations
or reputation of the Company;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s conviction of a felony or other crime involving moral turpitude; </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s abuse of alcohol or drugs (legal or illegal) that, in the Company&rsquo;s judgment, materially
impairs Employee&rsquo;s ability to perform his duties hereunder; or</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vi)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s violation of Company&rsquo;s personnel policies, which is not cured within 30 days following
written notice to Employee.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event of a termination
&ldquo;for cause,&rdquo; as enumerated above, Employee shall have no right to any severance compensation or other compensation accruing
after the effective date of termination, no right to bonus not yet due and payable at the time of termination, and no right to
monies for accrued and unused paid time off, or other personal time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Termination<FONT STYLE="color: black; letter-spacing: -0.1pt"> Without Cause</FONT></U></I><FONT STYLE="color: black; letter-spacing: -0.1pt">.
At any time after the commencement of employment, the Company </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.05pt">may,
without cause, terminate Employee&rsquo;s employment, effective 30 days after written notice is provided to Employee</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.25pt">.
A resignation by Employee following a pay cut, demotion or other material adverse change in Employee&rsquo;s rights or duties shall be
deemed termination by the Company without cause. Should the Company exercise its right to terminate Employee </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt">without
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">cause</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt">,
the Company will provide Employee with </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">compensation
(&ldquo;<U>Severance Compensation</U>&rdquo;) equal to the Base Salary, plus health insurance benefits, </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.2pt">from
the effective date of termination through the end of the Term or for 12 months, whichever is greater. Such payments shall be made
in </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">accordance with the Company&rsquo;s regular payroll cycle.
</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.45pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.45pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Payment<FONT STYLE="color: black; letter-spacing: -0.05pt"> Through Termination</FONT></U></I><FONT STYLE="color: black; letter-spacing: -0.05pt">.
Upon termination of Employee&rsquo;s </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">employment</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.05pt">,
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">Employee shall be entitled to receive all of his Base
Salary earned and all </FONT><FONT STYLE="font-size: 10pt">reimbursements<FONT STYLE="color: black; letter-spacing: 0.3pt"> </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.45pt">due
through the effective date of </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">termination. Additional
compensation subsequent to termination, if any, will be due and payable </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.05pt">to
Employee only to the extent and in the manner expressly provided above in this Section 6. </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.25pt">All
other rights and obligations of the </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.55pt">Company and Employee
under this Agreement shall cease as of the effective date of </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.2pt">termination,
except that Employee&rsquo;s obligations under Sections 7 and 8 below shall survive such termination in accordance with their terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.45pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: 0in"><FONT STYLE="font-weight: normal">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Restrictive Covenants</U>.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Confidentiality</U></I>. Except as required in the performance of Employee&rsquo;s work for
the Company, Employee will not directly or indirectly use or disclose any Trade Secret Information (as defined below), either during
or after employment with the Company for so long as such information remains Trade Secret Information as defined herein. Except
as required in the performance of Employee&rsquo;s work for the Company, during the period of Employee&rsquo;s employment with the Company
and for a period of two years thereafter (the &ldquo;<U>Restrictive Period</U>&rdquo;), Employee will not directly or indirectly
use or disclose any Confidential Information (as defined below), and will not circumvent, avoid, bypass, or obviate, directly or
indirectly, the intent of this Agreement. The Employee further agrees that the Confidential Information is the exclusive property
of the Company and in furtherance thereof, the Employee covenants with the Company not to engage in any conversations, negotiations,
correspondence or any transactions with respect to the Confidential Information, or take any other actions involving the Confidential
Information, whether directly or indirectly, or whether on the account of the Employee or not, which will not be in the best interests
of the Company or will not be within the intent of this Agreement, without express written consent of the Company, which consent
shall be in the sole discretion of the Company and which consent may be unreasonably withheld.</FONT></P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As used herein, &ldquo;<U>Trade
Secret Information</U>&rdquo; means any information possessed by the Company which derives independent economic value, actual or
potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain
economic value from its disclosure or use. For purposes of this Agreement, &ldquo;Trade Secret Information&rdquo; includes both information
disclosed to Employee by the Company, or by its other employees, agents or representatives, and information otherwise acquired
or developed by Employee in the course of his employment with the Company. As used herein, &ldquo;<U>Confidential Information</U>&rdquo;
means any information possessed by the Company which is not readily ascertainable by proper means by other persons, regardless
of whether such Confidential Information has independent economic value. Any information that Employee can demonstrate is publicly
available through no fault of Employee or others with a duty or other obligation of confidentiality to the Company (contractual
or otherwise), is not Trade Secret Information or Confidential Information within the meaning of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Notwithstanding
anything else in this Agreement, Trade Secret Information shall include, but is not limited to: (i) information concerning the
Company&rsquo;s management, financial condition, financial operation, purchasing activities, pricing formulas, existing and contemplated
products and services, sales activities, marketing research, marketing plans, marketing activities, and business plans; (ii) information
acquired or compiled by the Company concerning actual or prospective customers, including, but not limited to, their identities,
their business operations, their finances, the identity and quantity of products or services purchased from the Company, and other
unpublished information furnished by or about them to the Company; (iii) all designs, plans, data and other information relating
to the Company&rsquo;s systems, products and technology; (iv) the Company&rsquo;s software (including source code, object code and related
documentation), its software requirements and design documentation, its product development plans, its security procedures, methods
and vulnerabilities (including, without limitation, all passwords and user ids), the algorithms, methods and procedures used within
the Company&rsquo;s software, and all ideas and proposals, whether generated internally or not, relating to the design, operation, implementation,
use and maintenance of the Company&rsquo;s software, systems and products; (v) all Inventions (as defined in <U>Section 7(c)(2)</U>,
below), regardless of whether such Inventions have been reduced to practice or are subject to patent protection; and (vi) all other
types and categories of information (in whatever form) with respect to which, under all the circumstances, Employee knows or has
reason to know that the Company intends or expects secrecy to be maintained and as to which the Company has made reasonable efforts
to maintain secrecy. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">The
Company may, from time to time, inform Employee of restrictions upon the use or disclosure of specified information which has been
licensed or otherwise disclosed to the Company by third parties pursuant to license or confidential disclosure agreements which
contain restrictions upon the use or disclosure of such information. Employee agrees that such information shall be treated as
Confidential Information under this Agreement, and, in addition, Employee agrees to abide by the restrictions upon use and/or disclosure
contained in such agreements.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Employee
will not use or disclose to the Company any confidential or proprietary information belonging to others, and Employee represents
that his employment by the Company does not and will not require the use or disclosure of such information or the violation of
any confidential relationship with any third party.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Other Property of the Company</U></I>. All documents, encoded media, and other tangible
items provided or made accessible to Employee by the Company, or by its other employees, agents or representatives, or prepared,
generated or created by Employee or others in connection with any business activity of the Company, are and shall remain the property
of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Upon
termination of his employment with the Company, Employee will promptly deliver to the Company all such documents, media, and other
items in Employee&rsquo;s possession, including all complete or partial copies, recordings, abstracts, notes or reproductions of any
kind made from or about such documents, media, items or information contained therein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Employee
will neither have nor claim any right, title, or interest in any Invention, patent, copyright, trademark, service mark or trade
name (or any application released thereto) owned or used by the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Ownership of Developments</U></I>. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(1)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I><U>Work Product</U></I>. All work, writing, material, copyrights, patents, trade secrets, or other intellectual property
rights associated with any ideas, concepts, techniques, Inventions (as defined below), processes, or works of authorship developed
or created by Employee during the course of performing work for the Company or its clients, including, but not limited to, supercritical
water oxidation (SCWO) systems, Air SCWO Nix system, waste heat systems, Rankine cycle technologies, renewable technologies and
power consumption technologies, (collectively, &ldquo;<U>Work Product</U>&rdquo;) shall belong exclusively to the Company and shall,
to the extent possible, be considered a work made by the Employee for hire for the Company within the meaning of Title 17 of the
United States Code. To the extent the Work Product may be considered work made by the Employee for hire for the Company, the Employee
hereby assigns all right title and interest the Employee has or may have in such Work Product to the Company, and Employee further
agrees to execute any assignments or similar documents requested by the Company in the future to further evidence and document
the Company&rsquo;s rights in and to any Work Product, and to do so without any requirement of further consideration, even if such request
is made after this Agreement expires or terminates. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">For
the purposes of this <U>Section 7(c)</U>, &ldquo;Work Product&rdquo; shall include, without limitation, all work relating in any
way to the business of the Company that is conceived or created, in whole or in part, by the Employee during the Term, regardless
of whether such creation is performed during normal working hours or with the use of Company equipment, all copies of such work
in any medium whatsoever in the Employee&rsquo;s control or possession, and all derivative works of such work authored in whole or in
part by the Employee. </FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I><U>Inventions</U></I>.
As used herein, &ldquo;<U>Invention</U>&rdquo; means any discovery, improvement, innovation, idea, formula, or shop right (whether
or not patentable, whether or not put into writing, and whether or not put into practice) made, generated, or conceived by Employee
(whether alone or with others, whether or not patentable, whether or not put into writing, and whether or not reduced to practice)
during the Term that relates in any way to the Company&rsquo;s products, services, systems, markets, business methods, operations or
plans. For purposes of this Agreement, any Invention relating to the business of the Company or to the Company&rsquo;s actual or demonstrably
anticipated research or development with respect to which Employee files a patent application within one year after termination
of the Term shall be presumed to be an Invention conceived by Employee during the Term, rebuttable only by accurate, written and
duly corroborated evidence that such Invention was not first conceived by Employee until after the termination of this Employment
Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">Employee
further agrees that all Inventions generated, made or conceived by Employee during the Term shall also be solely owned by the Company,
and Employee hereby irrevocably assigns to the Company all of his right, title and interest in and to any and all Inventions. Employee
shall promptly disclose all Inventions to the Company in writing. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">Employee
further agrees to execute any assignments or similar documents requested by the Company to further evidence and document the Company&rsquo;s
rights in and to any Inventions, and to cooperate with Company, at the Company&rsquo;s expense, in obtaining letters patent or equivalent
protection for such Inventions in any and all locations and jurisdictions Company may choose in its sole discretion throughout
the world, and to do so without any requirement of further consideration, even if such request is made after this Agreement expires
or terminates.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Definition of Company</U></I>. Solely for purposes of this Section 7, the term &ldquo;Company&rdquo;
also shall include any existing or future subsidiaries of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; font-weight: normal">(e)</FONT><FONT STYLE="font: normal 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; font-weight: normal"><I><U>Covenant Not to Compete</U></I>. (i) During the period of Employee&rsquo;s
employment with the Company and for a period of two years thereafter (the &ldquo;<U>Restrictive Period</U>&rdquo;), Employee will
not, as an employee, officer, director, contractor, broker, distributor, advisor, consultant, or owner, or in any other capacity,
directly or indirectly participate or assist in: (A) the design, development, production, marketing or sales of any product or
service competitive with any product or service which the Company markets or plans to market during Employee&rsquo;s employment or at
the time of termination of Employee&rsquo;s employment with the Company; or (B) the management or financing of a business enterprise
engaged in any such activities. The geographic territory within which Employee will refrain from such activities shall be any geographic
territory within which the Company or any Company agent or representative markets or plans to market any such products or services
during Employee&rsquo;s employment or at the time of termination of Employee&rsquo;s employment (&ldquo;<U>Restricted Area</U>&rdquo;). For the
avoidance of doubt, nothing in this Section 7 will be construed to prohibit or interfere with Employee&rsquo;s ability to engage in research
for academic institutions or other non-profit entities, whether during or after the Employment Period</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Non-Solicitation</U></I><U> <I>of Customers</I></U>. During the two-year period after
the date of termination of Employee&rsquo;s employment with the Company, Employee will not, directly or indirectly, either (i) solicit,
divert, take away or accept, or attempt to solicit, divert, take away or accept, the business of any Restricted Customer (as defined
below) for any product or service offered by the Company within the Restricted Area; or (ii) attempt or seek to cause any Restricted
Customer to refrain, in any respect, from acquiring from or through the Company any product or services offered by the Company
within the Restricted Area. As used herein, the term &ldquo;<U>Restricted Customer</U>&rdquo; means any customer to whom or to which
goods or services were provided by the Company during the two-year period prior to the date of Employee&rsquo;s employment, and any potential
customer of the Company that the Company solicited during the one-year period prior to the date of termination of Employee&rsquo;s employment
with the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Non-Solicitation of Employees/Consultants</U></I>. During the two-year period after
the date of termination of the Employee&rsquo;s employment with the Company, Employee will not, as to work within the Restricted Area,
directly or indirectly solicit, request or induce any employee or consultant of the Company to terminate employment or consultancy
with the Company and seek employment or consultancy with another firm other than the Company; provided, however, that a general
advertisement in a medium of general public circulation with respect to a particular employment or consultancy position that is
not targeted at any one or more the employees of the Company will not violate the covenants of this Section.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Duty of Loyalty</U></I>. Employee agrees that during the time that Employee is employed
by the Company, Employee will owe the Company a duty of loyalty, and that as part of this duty of loyalty, Employee shall not engage
in any form of business activity representing competition against the Company. Similarly, Employee, while employed by the Company,
shall not appropriate for Employee&rsquo;s own use any business opportunity of the Company, or otherwise engage in conduct where Employee&rsquo;s
own business interests are developed instead of the Company&rsquo;s business interests. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Requests for Clarification</U></I>. In the event Employee is uncertain as to the meaning
of any provision of this Agreement or its application to any particular information, item or activity, Employee will inquire in
writing to the Chief Financial Officer (CFO) of the Company, specifying any areas of uncertainty. The Company will respond in writing
within a reasonable time and will endeavor to clarify any subject of uncertainty, including such things as whether it considers
particular information to be its Trade Secret Information or whether it considers any particular activity or employment to be in
violation of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Acknowledgment<B> </B>by Employee</U></I>. The Employee acknowledges and confirms that
(i) the restrictive covenants contained in this Section 7 are reasonably necessary to protect the legitimate business interests
of the Company; and (ii) the restrictions contained in this Section 7 (including, without limitation, the length of the term of
the provisions of this Section 7) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion
of any kind. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Reformation<B> </B>by Court</U></I>. In the event that a court of competent jurisdiction
shall determine that any provision of this Section 7 is invalid or more restrictive than permitted under the governing law of such
jurisdiction, then only as to enforcement of this Section 7 within the jurisdiction of such court, such provision shall be interpreted
and enforced as if it provided for the maximum restriction permitted under such governing law.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Survival</U></I>. The provisions of this Section 7 shall survive the termination of
this Agreement, as applicable.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Injunction</U>. It is recognized and hereby acknowledged by the parties hereto that a breach
by the Employee of any of the covenants contained in Section 7 of this Agreement will cause irreparable harm and damage to the
Company, the monetary amount of which may be virtually impossible to ascertain. As a result, the Employee recognizes and hereby
acknowledges that the Company shall be entitled to seek an injunction from any court of competent jurisdiction enjoining and restraining
any violation of any or all of the covenants contained in Section 7 of this Agreement by the Employee or any of the Employee&rsquo;s</FONT></FONT><FONT STYLE="font-size: 10pt">
<FONT STYLE="font-weight: normal">Affiliates, associates, partners or agents, either directly or indirectly, and that such right
to injunction shall be cumulative and in addition to whatever other remedies the Company may possess.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Assignment</U>.
Neither party shall have the right to assign or delegate the Employee&rsquo;s rights or obligations hereunder, or any portion thereof,
to any other person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Governing Law</U>. This Agreement is to be construed and enforced according to the laws
of the State of North Carolina. The parties agree to accept any service of process by mail and to the exclusive venue of courts
of competent jurisdiction located in Durham County, North Carolina, in any dispute arising out of the employment by the Company
of the Employee, compensation or any damages in respect thereof.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Entire Agreement; Amendment</U>. This Agreement reflects the entire agreement between the
parties hereto with respect to the subject matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings
and arrangements, both oral and written, between the Employee and the Company (or any of its Affiliates) with respect to such subject
matter. This Agreement may not be modified in any way unless by a written instrument signed by both the Company and the Employee.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Notices</U>. All notices required or permitted to be given hereunder shall be in writing
and shall be personally delivered by courier, sent by registered or certified mail, return receipt requested or sent by confirmed
email addressed as set forth herein. All notices shall be deemed given on the date of delivery. Notice shall be sent: (i) if to
the Company, addressed to 374Water Inc., 9300 S. Dadeland Blvd., Suite 600, Miami, Florida 33156, Attention: Richard H. Davis,
Director, <U>rd@374water.com</U> and (ii)&nbsp;if to the Employee, to the Employee&rsquo;s address as reflected on the payroll
records of the Company, or to such other address as either party hereto may from time to time give notice of to the other.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">13.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Benefits; Binding Effect</U>. This Agreement shall be for the benefit of and binding upon
the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable,
assigns, including, without limitation, any successor to the Company, whether by merger, consolidation, sale of stock, sale of
assets or otherwise.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">14.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Severability</U>. The invalidity of any one or more of the words, phrases, sentences, clauses
or sections contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any
part thereof, all of which are inserted conditionally on their being valid in law.</FONT></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">15.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Waivers</U>. The waiver by either party hereto of a breach or violation of any term or
provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">16.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Damages</U>. Nothing contained herein shall be construed to prevent the Company or the
Employee from seeking and recovering from the other damages sustained by either or both of them as a result of its or his or her
breach of any term or provision of this Agreement. In the event that either party hereto brings suit for the collection of any
damages resulting from, or the injunction of any action constituting, a breach of any of the term or provisions of this Agreement,
then each party shall pay its own court costs and attorneys&rsquo; fees related thereto.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">17.&nbsp;<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Section Headings</U>. The section headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0">[<B><I>Signatures Begin
on Following Page.</I></B>]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
undersigned have executed this Agreement as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>COMPANY:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">374WATER INC. F/K/A POWERVERDE, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Richard H. Davis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Richard H. Davis, Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>EMPLOYEE</B>:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Yaacov Nagar</FONT></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"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.5
<SEQUENCE>6
<FILENAME>ex10_3.htm
<TEXT>
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     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 10pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">THIS EMPLOYMENT AGREEMENT
(&ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of the 16th day of April, 2021 (the &ldquo;<U>Effective Date</U>&rdquo;),
and is by and between <B>374WATER INC.</B>, a Delaware corporation f/k/a <B>POWERVERDE, INC.</B> (the &ldquo;<U>Company</U>&rdquo;),
and <B>MARC DESHUSSES, </B>an individual (the &ldquo;<U>Employee</U>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>R E C I T A L S</U></B></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">A.</TD><TD STYLE="text-align: justify">The Employee possesses knowledge and skills which the Company believes will be of substantial benefit
to its operations and success, and the Company desires to employ the Employee on the terms and conditions set forth below.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">B.</TD><TD STYLE="text-align: justify">The Employee is willing to make the Employee&rsquo;s services available to the Company on the terms and
conditions set forth below.</TD></TR></TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in consideration
of the premises and mutual covenants set forth herein, the parties agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Employment</U>. The Company hereby agrees to employ the Employee and the Employee hereby
agrees to serve the Company on the terms and conditions set forth herein. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Duties of Employee</U>. During the Employment Period (as defined in Section 3, below),
the Employee shall serve as Head of Technology (HoT) of the Company. The Employee shall diligently perform all services reasonably
required of him in his capacity as the technology leader of the Company and shall report to and work under the supervision of the
Company&rsquo;s CEO. During the Employment Period, the Employee will faithfully carry out his responsibilities and provide services to
the Company on a part-time basis and will dedicate such hours as may be necessary for the Employee to perform effectively the responsibilities
of his position In addition, the Employee shall act in accordance with (i) standing instructions for the position which may be
issued by the Company from time to time; (ii) all reasonable and lawful requests, directions and/or restrictions imposed by the
Company; and (iii) all policies of the Company as prescribed from time to time. Upon termination of employment, the Employee shall
return all Company equipment and other Company property in the Employee&rsquo;s possession, custody or control. Notwithstanding the foregoing,
Employee may continue his affiliation with Duke University consistent with past practice.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Term</U>. The Employee shall be employed by the Company commencing on the Effective Date
of this Agreement. The Employee&rsquo;s employment by the Company shall continue for a period of two years (the &ldquo;<U>Initial Term</U>&rdquo;),
unless this Agreement is terminated first pursuant to Section 6 below. If not previously terminated, at the end of the Initial
Term the Agreement shall be automatically renewed for an additional term of one year unless either party provides notice of non-renewal
at least six months before the end of such term, and it may similarly be renewed for future one-year terms (&ldquo;<U>Renewal Terms</U>&rdquo;)
until the Agreement is terminated pursuant to Section 6. The entire term of the Agreement (comprised of that part of the Initial
Term, and any Renewal Terms, prior to termination) shall be referred to in this Agreement as the &ldquo;<U>Term</U>&rdquo; or the
&ldquo;<U>Employment Period</U>.&rdquo; For all purposes of the Agreement, no termination of the Employee&rsquo;s employment shall be deemed
to have occurred if the Employee is transferred during the Employment Period to any business entity which is an Affiliate of the
Company. As used in this Agreement, the term &ldquo;<U>Affiliate</U>&rdquo; means, with respect to any specified person or entity
(&ldquo;<U>Person</U>&rdquo;), any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled
by, or is under common control with, such specified Person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Compensation; Benefits</U>. The Employee shall receive compensation of $60,000 per year
by the Company during the Initial Term (the &ldquo;<U>Base Salary</U>&rdquo;), with such Compensation payable in installments consistent
with the Company&rsquo;s normal payroll schedule, subject to applicable withholding and other taxes as shall be required by applicable
law. In addition, Employee shall be eligible for bonuses, stock options and/or other incentive compensation in the discretion of
the Board. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Expense Reimbursement</U>. Subject to such reasonable rules and guidelines as the Company
may from time to time adopt for its employees generally, the Company shall reimburse the Employee for all reasonable expenses actually
paid or incurred by the Employee during the Term of Employment in the course of and pursuant to the business of the Company. The
Employee shall account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the Company
copies of all relevant invoices, receipts or other evidence reasonably requested by the Company.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.75pt">6.</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.75pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt"><U>Termination.</U><B> </B></FONT><FONT STYLE="font-size: 10pt"><U>Employee&rsquo;s</U><FONT STYLE="color: black; letter-spacing: 0.3pt">
employment may be terminated in any one of the </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.2pt">following
ways:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><FONT STYLE="letter-spacing: -0.75pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Termination by the Company &ldquo;For Cause</U></I>.&rdquo; The Company may terminate
the employment upon written notice to Employee &ldquo;for cause,&rdquo; which shall be:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s material breach of this Agreement, which is not cured within 30 days following
written notice to Employee;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s gross negligence in the performance of his duties hereunder, intentional nonperformance
or mis-performance of such duties, or refusal to abide by or comply with the directives of the Board, or with the Company&rsquo;s policies
and procedures, which is not cured within 30 days following written notice to Employee;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iii)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s willful dishonesty, fraud, or misconduct with respect to the business or affairs
of the Company, or any of its affiliates, that in the judgment of the Company would materially and adversely affect the operations
or reputation of the Company;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(iv)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s conviction of a felony or other crime involving moral turpitude; </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s abuse of alcohol or drugs (legal or illegal) that, in the Company&rsquo;s judgment, materially
impairs Employee&rsquo;s ability to perform his duties hereunder; or</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vi)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt">Employee&rsquo;s violation of Company&rsquo;s personnel policies, which is not cured within 30 days following
written notice to Employee.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In the event of a termination
&ldquo;for cause,&rdquo; as enumerated above, Employee shall have no right to any severance compensation or other compensation accruing
after the effective date of termination, no right to bonus not yet due and payable at the time of termination, and no right to
monies for accrued and unused paid time off, or other personal time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.1pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Termination<FONT STYLE="color: black; letter-spacing: -0.1pt"> Without Cause</FONT></U></I><FONT STYLE="color: black; letter-spacing: -0.1pt">.
At any time after the commencement of employment, the Company </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.05pt">may,
without cause, terminate Employee&rsquo;s employment, effective 30 days after written notice is provided to Employee</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.25pt">.
A resignation by Employee following a pay cut, demotion or other material adverse change in Employee&rsquo;s rights or duties shall be
deemed termination by the Company without cause. Should the Company exercise its right to terminate Employee </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt">without
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">cause</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.3pt">,
the Company will provide Employee with </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">compensation
(&ldquo;<U>Severance Compensation</U>&rdquo;) equal to the Base Salary </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.2pt">from
the effective date of termination through the end of the Term. Such payments shall be made in </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">accordance
with the Company&rsquo;s regular payroll cycle. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.45pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif; color: black; letter-spacing: -0.45pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Payment<FONT STYLE="color: black; letter-spacing: -0.05pt"> Through Termination</FONT></U></I><FONT STYLE="color: black; letter-spacing: -0.05pt">.
Upon termination of Employee&rsquo;s </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.1pt">employment</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.05pt">,
</FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">Employee shall be entitled to receive all of his Base
Salary earned and all </FONT><FONT STYLE="font-size: 10pt">reimbursements<FONT STYLE="color: black; letter-spacing: 0.3pt"> </FONT></FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.45pt">due
through the effective date of </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.15pt">termination. Additional
compensation subsequent to termination, if any, will be due and payable </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.05pt">to
Employee only to the extent and in the manner expressly provided above in this Section 6. </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.25pt">All
other rights and obligations of the </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: 0.55pt">Company and Employee
under this Agreement shall cease as of the effective date of </FONT><FONT STYLE="font-size: 10pt; color: black; letter-spacing: -0.2pt">termination,
except that Employee&rsquo;s obligations under Sections 7 and 8 below shall survive such termination in accordance with their terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: -0.45pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">7.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Restrictive Covenants</U>.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(a)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Confidentiality</U></I>. Except as required in the performance of Employee&rsquo;s work for
the Company, Employee will not directly or indirectly use or disclose any Trade Secret Information (as defined below), either during
or after employment with the Company for so long as such information remains Trade Secret Information as defined herein. Except
as required in the performance of Employee&rsquo;s work for the Company, during the period of Employee&rsquo;s employment with the Company
and for a period of two years thereafter (the &ldquo;<U>Restrictive Period</U>&rdquo;), Employee will not directly or indirectly
use or disclose any Confidential Information (as defined below), and will not circumvent, avoid, bypass, or obviate, directly or
indirectly, the intent of this Agreement. The Employee further agrees that the Confidential Information is the exclusive property
of the Company and in furtherance thereof, the Employee covenants with the Company not to engage in any conversations, negotiations,
correspondence or any transactions with respect to the Confidential Information, or take any other actions involving the Confidential
Information, whether directly or indirectly, or whether on the account of the Employee or not, which will not be in the best interests
of the Company or will not be within the intent of this Agreement, without express written consent of the Company, which consent
shall be in the sole discretion of the Company and which consent may be unreasonably withheld.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As used herein, &ldquo;<U>Trade
Secret Information</U>&rdquo; means any information possessed by the Company which derives independent economic value, actual or
potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain
economic value from its disclosure or use. For purposes of this Agreement, &ldquo;Trade Secret Information&rdquo; includes both information
disclosed to Employee by the Company, or by its other employees, agents or representatives, and information otherwise acquired
or developed by Employee in the course of his employment with the Company. As used herein, &ldquo;<U>Confidential Information</U>&rdquo;
means any information possessed by the Company which is not readily ascertainable by proper means by other persons, regardless
of whether such Confidential Information has independent economic value. Any information that Employee can demonstrate is publicly
available through no fault of Employee or others with a duty or other obligation of confidentiality to the Company (contractual
or otherwise), is not Trade Secret Information or Confidential Information within the meaning of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Notwithstanding
anything else in this Agreement, Trade Secret Information shall include, but is not limited to: (i) information concerning the
Company&rsquo;s management, financial condition, financial operation, purchasing activities, pricing formulas, existing and contemplated
products and services, sales activities, marketing research, marketing plans, marketing activities, and business plans; (ii) information
acquired or compiled by the Company concerning actual or prospective customers, including, but not limited to, their identities,
their business operations, their finances, the identity and quantity of products or services purchased from the Company, and other
unpublished information furnished by or about them to the Company; (iii) all designs, plans, data and other information relating
to the Company&rsquo;s systems, products and technology; (iv) the Company&rsquo;s software (including source code, object code and related
documentation), its software requirements and design documentation, its product development plans, its security procedures, methods
and vulnerabilities (including, without limitation, all passwords and user ids), the algorithms, methods and procedures used within
the Company&rsquo;s software, and all ideas and proposals, whether generated internally or not, relating to the design, operation, implementation,
use and maintenance of the Company&rsquo;s software, systems and products; (v) all Inventions (as defined in <U>Section 7(c)(2)</U>,
below), regardless of whether such Inventions have been reduced to practice or are subject to patent protection; and (vi) all other
types and categories of information (in whatever form) with respect to which, under all the circumstances, Employee knows or has
reason to know that the Company intends or expects secrecy to be maintained and as to which the Company has made reasonable efforts
to maintain secrecy. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">The
Company may, from time to time, inform Employee of restrictions upon the use or disclosure of specified information which has been
licensed or otherwise disclosed to the Company by third parties pursuant to license or confidential disclosure agreements which
contain restrictions upon the use or disclosure of such information. Employee agrees that such information shall be treated as
Confidential Information under this Agreement, and, in addition, Employee agrees to abide by the restrictions upon use and/or disclosure
contained in such agreements.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Employee
will not use or disclose to the Company any confidential or proprietary information belonging to others, and Employee represents
that his employment by the Company does not and will not require the use or disclosure of such information or the violation of
any confidential relationship with any third party.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(b)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Other Property of the Company</U></I>. All documents, encoded media, and other tangible
items provided or made accessible to Employee by the Company, or by its other employees, agents or representatives, or prepared,
generated or created by Employee or others in connection with any business activity of the Company, are and shall remain the property
of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Upon
termination of his employment with the Company, Employee will promptly deliver to the Company all such documents, media, and other
items in Employee&rsquo;s possession, including all complete or partial copies, recordings, abstracts, notes or reproductions of any
kind made from or about such documents, media, items or information contained therein.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Employee
will neither have nor claim any right, title, or interest in any Invention, patent, copyright, trademark, service mark or trade
name (or any application released thereto) owned or used by the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(c)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Ownership of Developments</U></I>. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(1)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I><U>Work Product</U></I>. All work, writing, material, copyrights, patents, trade secrets, or other intellectual property
rights associated with any ideas, concepts, techniques, Inventions (as defined below), processes, or works of authorship developed
or created by Employee during the course of performing work for the Company or its clients, including, but not limited to, supercritical
water oxidation (SCWO) systems, AirSCWO Nix system, waste heat systems, Rankine cycle technologies, renewable technologies and
power consumption technologies, (collectively, &ldquo;<U>Work Product</U>&rdquo;) shall belong exclusively to the Company and shall,
to the extent possible, be considered a work made by the Employee for hire for the Company within the meaning of Title 17 of the
United States Code. To the extent the Work Product may be considered work made by the Employee for hire for the Company, the Employee
hereby assigns all right title and interest the Employee has or may have in such Work Product to the Company, and Employee further
agrees to execute any assignments or similar documents requested by the Company in the future to further evidence and document
the Company&rsquo;s rights in and to any Work Product, and to do so without any requirement of further consideration, even if such request
is made after this Agreement expires or terminates. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">For
the purposes of this <U>Section 7(c)</U>, &ldquo;Work Product&rdquo; shall include, without limitation, all work relating in any
way to the business of the Company that is conceived or created, in whole or in part, by the Employee during the Term, regardless
of whether such creation is performed during normal working hours or with the use of Company equipment, all copies of such work
in any medium whatsoever in the Employee&rsquo;s control or possession, and all derivative works of such work authored in whole or in
part by the Employee. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<I><U>Inventions</U></I>.
As used herein, &ldquo;<U>Invention</U>&rdquo; means any discovery, improvement, innovation, idea, formula, or shop right (whether
or not patentable, whether or not put into writing, and whether or not put into practice) made, generated, or conceived by Employee
(whether alone or with others, whether or not patentable, whether or not put into writing, and whether or not reduced to practice)
during the Term that relates in any way to the Company&rsquo;s products, services, systems, markets, business methods, operations or
plans. For purposes of this Agreement, any Invention relating to the business of the Company or to the Company&rsquo;s actual or demonstrably
anticipated research or development with respect to which Employee files a patent application within one year after termination
of the Term shall be presumed to be an Invention conceived by Employee during the Term, rebuttable only by accurate, written and
duly corroborated evidence that such Invention was not first conceived by Employee until after the termination of this Employment
Agreement.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">Employee
further agrees that all Inventions generated, made or conceived by Employee during the Term shall also be solely owned by the Company,
and Employee hereby irrevocably assigns to the Company all of his right, title and interest in and to any and all Inventions. Employee
shall promptly disclose all Inventions to the Company in writing. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-weight: normal">Employee
further agrees to execute any assignments or similar documents requested by the Company to further evidence and document the Company&rsquo;s
rights in and to any Inventions, and to cooperate with Company, at the Company&rsquo;s expense, in obtaining letters patent or equivalent
protection for such Inventions in any and all locations and jurisdictions Company may choose in its sole discretion throughout
the world, and to do so without any requirement of further consideration, even if such request is made after this Agreement expires
or terminates.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(d)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Definition of Company</U></I>. Solely for purposes of this Section 7, the term &ldquo;Company&rdquo;
also shall include any existing or future subsidiaries of the Company.</FONT></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; font-weight: normal">(e)</FONT><FONT STYLE="font: normal 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; font-weight: normal"><I><U>Covenant Not to Compete</U></I>. (i) During the period of Employee&rsquo;s
employment with the Company and for a period of two years thereafter (the &ldquo;<U>Restrictive Period</U>&rdquo;), Employee will
not, as an employee, officer, director, contractor, broker, distributor, advisor, consultant, or owner, or in any other capacity,
directly or indirectly participate or assist in: (A) the design, development, production, marketing or sales of any product or
service competitive with any product or service which the Company markets or plans to market during Employee&rsquo;s employment or at
the time of termination of Employee&rsquo;s employment with the Company; or (B) the management or financing of a business enterprise
engaged in any such activities. The geographic territory within which Employee will refrain from such activities shall be any geographic
territory within which the Company or any Company agent or representative markets or plans to market any such products or services
during Employee&rsquo;s employment or at the time of termination of Employee&rsquo;s employment (&ldquo;<U>Restricted Area</U>&rdquo;).</FONT><FONT STYLE="font-size: 10pt">
For the avoidance of doubt, nothing in this Section 7 will be construed to prohibit or interfere with Employee&rsquo;s ability to engage
in research for academic institutions or other non-profit entities, whether during or after the Employment Period</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(f)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Non-Solicitation</U></I><U> <I>of Customers</I></U>. During the two-year period after
the date of termination of Employee&rsquo;s employment with the Company, Employee will not, directly or indirectly, either (i) solicit,
divert, take away or accept, or attempt to solicit, divert, take away or accept, the business of any Restricted Customer (as defined
below) for any product or service offered by the Company within the Restricted Area; or (ii) attempt or seek to cause any Restricted
Customer to refrain, in any respect, from acquiring from or through the Company any product or services offered by the Company
within the Restricted Area. As used herein, the term &ldquo;<U>Restricted Customer</U>&rdquo; means any customer to whom or to which
goods or services were provided by the Company during the two-year period prior to the date of Employee&rsquo;s employment, and any potential
customer of the Company that the Company solicited during the one-year period prior to the date of termination of Employee&rsquo;s employment
with the Company.</FONT></P>

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

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(g)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Non-Solicitation of Employees/Consultants</U></I>. During the two-year period after
the date of termination of the Employee&rsquo;s employment with the Company, Employee will not, as to work within the Restricted Area,
directly or indirectly solicit, request or induce any employee or consultant of the Company to terminate employment or consultancy
with the Company and seek employment or consultancy with another firm other than the Company; provided, however, that a general
advertisement in a medium of general public circulation with respect to a particular employment or consultancy position that is
not targeted at any one or more the employees of the Company will not violate the covenants of this Section.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(h)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Duty of Loyalty</U></I>. Employee agrees that during the time that Employee is employed
by the Company, Employee will owe the Company a duty of loyalty, and that as part of this duty of loyalty, Employee shall not engage
in any form of business activity representing competition against the Company. Similarly, Employee, while employed by the Company,
shall not appropriate for Employee&rsquo;s own use any business opportunity of the Company, or otherwise engage in conduct where Employee&rsquo;s
own business interests are developed instead of the Company&rsquo;s business interests. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(i)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Requests for Clarification</U></I>. In the event Employee is uncertain as to the meaning
of any provision of this Agreement or its application to any particular information, item or activity, Employee will inquire in
writing to the Chief Financial Officer (CFO) of the Company, specifying any areas of uncertainty. The Company will respond in writing
within a reasonable time and will endeavor to clarify any subject of uncertainty, including such things as whether it considers
particular information to be its Trade Secret Information or whether it considers any particular activity or employment to be in
violation of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(j)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Acknowledgment<B> </B>by Employee</U></I>. The Employee acknowledges and confirms that
(i) the restrictive covenants contained in this Section 7 are reasonably necessary to protect the legitimate business interests
of the Company; and (ii) the restrictions contained in this Section 7 (including, without limitation, the length of the term of
the provisions of this Section 7) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion
of any kind. </FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(k)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Reformation<B> </B>by Court</U></I>. In the event that a court of competent jurisdiction
shall determine that any provision of this Section 7 is invalid or more restrictive than permitted under the governing law of such
jurisdiction, then only as to enforcement of this Section 7 within the jurisdiction of such court, such provision shall be interpreted
and enforced as if it provided for the maximum restriction permitted under such governing law.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">(l)</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><I><U>Survival</U></I>. The provisions of this Section 7 shall survive the termination of
this Agreement, as applicable.</FONT></P>

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

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

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">8.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Injunction</U>. It is recognized and hereby acknowledged by the parties hereto that a breach
by the Employee of any of the covenants contained in Section 7 of this Agreement will cause irreparable harm and damage to the
Company, the monetary amount of which may be virtually impossible to ascertain. As a result, the Employee recognizes and hereby
acknowledges that the Company shall be entitled to seek an injunction from any court of competent jurisdiction enjoining and restraining
any violation of any or all of the covenants contained in Section 7 of this Agreement by the Employee or any of the Employee&rsquo;s</FONT></FONT><FONT STYLE="font-size: 10pt">
<FONT STYLE="font-weight: normal">Affiliates, associates, partners or agents, either directly or indirectly, and that such right
to injunction shall be cumulative and in addition to whatever other remedies the Company may possess.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;<U>Assignment</U>.
Neither party shall have the right to assign or delegate the Employee&rsquo;s rights or obligations hereunder, or any portion thereof,
to any other person.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">10.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Governing Law</U>. This Agreement is to be construed and enforced according to the laws
of the State of North Carolina. The parties agree to accept any service of process by mail and to the exclusive venue of courts
of competent jurisdiction located in Durham County, North Carolina in any dispute arising out of the employment by the Company
of the Employee, compensation or any damages in respect thereof.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">11.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Entire Agreement; Amendment</U>. This Agreement reflects the entire agreement between the
parties hereto with respect to the subject matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings
and arrangements, both oral and written, between the Employee and the Company (or any of its Affiliates) with respect to such subject
matter. This Agreement may not be modified in any way unless by a written instrument signed by both the Company and the Employee.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">12.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Notices</U>. All notices required or permitted to be given hereunder shall be in writing
and shall be personally delivered by courier, sent by registered or certified mail, return receipt requested or sent by confirmed
email addressed as set forth herein. All notices shall be deemed given on the date of delivery. Notice shall be sent: (i) if to
the Company, addressed to 374Water Inc., 3710 Shannon Rd. #51877 Durham NC 27717 Attention: Yaacov Nagar, CEO, <U>kn@374water.com
</U>and (ii)&nbsp;if to the Employee, to the Employee&rsquo;s address as reflected on the payroll records of the Company, or to
such other address as either party hereto may from time to time give notice of to the other.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">13.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Benefits; Binding Effect</U>. This Agreement shall be for the benefit of and binding upon
the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable,
assigns, including, without limitation, any successor to the Company, whether by merger, consolidation, sale of stock, sale of
assets or otherwise.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">14.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Severability</U>. The invalidity of any one or more of the words, phrases, sentences, clauses
or sections contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any
part thereof, all of which are inserted conditionally on their being valid in law.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">15.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Waivers</U>. The waiver by either party hereto of a breach or violation of any term or
provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation.</FONT></FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">16.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Damages</U>. Nothing contained herein shall be construed to prevent the Company or the
Employee from seeking and recovering from the other damages sustained by either or both of them as a result of its or his or her
breach of any term or provision of this Agreement. In the event that either party hereto brings suit for the collection of any
damages resulting from, or the injunction of any action constituting, a breach of any of the term or provisions of this Agreement,
then each party shall pay its own court costs and attorneys&rsquo; fees related thereto.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">17.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt"><U>Section Headings</U>. The section headings contained in this Agreement are for reference
purposes only and shall not affect in any way the meaning or interpretation of this Agreement.</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">[<B><I>Signatures Begin
on Following Page.</I></B>]</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, the
undersigned have executed this Agreement as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>COMPANY:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt">374WATER INC. F/K/A POWERVERDE, INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 50%">&nbsp;</TD>
<TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
<TD STYLE="width: 45%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-size: 10pt">Yaacov Nagar, CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>EMPLOYEE</B>:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Marc Deshuss</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD>&nbsp;</TD>
<TD>&nbsp;</TD>
<TD><FONT STYLE="font-size: 10pt">Marc Deshusses</FONT></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; text-align: justify"></P>

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</BODY>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.6
<SEQUENCE>7
<FILENAME>ex10_4.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Certain
identified information in this document has been excluded because it is both (i)&nbsp;not material and (ii)&nbsp;would be competitively
harmful if publicly disclosed, and has been marked with &ldquo;[***]&rdquo; to indicate where omissions have been made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSE
AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">This
Agreement is effective as of April 16, 2021 (the &ldquo;EFFECTIVE DATE&rdquo;), between 374Water, Inc., (&ldquo;LICENSEE&rdquo;) having
the address in Article 12 below, and Duke University, a nonprofit educational and research institution organized under the laws
of North Carolina (&ldquo;DUKE&rdquo;), each a &ldquo;Party&rdquo; and together, the &ldquo;Parties&rdquo;. LICENSEE and DUKE hereby
agree as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
1 &ndash; DEFINITIONS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;AFFILIATE&rdquo;
means any corporation or non-corporate entity that controls, is controlled by or is under the common control with a party. A corporation
or a non-corporate entity, as applicable, is deemed to be in control of another corporation if (a) it owns or directly or indirectly
controls at least 50% of the voting stock of the other corporation or (b) in the absence of ownership of at least 50% of the voting
stock of a corporation, or in the case of a non- corporate entity, if it possesses directly or indirectly, the power to direct
or cause the direction of the management and policies of such corporation or non-corporate entity, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;COMBINATION PRODUCT&rdquo;
means a LICENSED PRODUCT that is sold, packaged, blended, or otherwise combined with one (1) or more other products or technologies
that (i) have significant independent utility, or are (or can serve as the basis of) a separately saleable product, and (ii) are
not covered by a VALID CLAIM of the PATENT RIGHTS (such other products or technologies, the &ldquo;Other Products&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;DUKE,&rdquo; as used
in Articles 8 and 9, shall include its trustees, officers, employees, students, and agents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 5pt; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.4
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;FIELD OF USE&rdquo; means water and waste treatment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.5</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;FIRST COMMERCIAL
SALE&rdquo; means the first SALE through a bona fide arm&rsquo;s length transaction of any LICENSED PRODUCT or first NET SALES-generating
commercial use of any LICENSED PROCESS by LICENSEE or a SUBLICENSEE, excluding the SALE of a LICENSED PRODUCT or use of a LICENSED
PROCESS for use in trials or research, pilot projects, as a sample, or that is of temporary availability.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 5pt; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.6
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;FOUNDATION&rdquo; means the Bill and Melinda Gates Foundation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.7</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;GLOBAL ACCESS&rdquo;
means the principal goal of the FOUNDATION to ensure that innovations and solutions (and related rights) are managed and optimized
for the purpose of facilitating (i) the broad availability of data and information and (ii) the access to affordable health and
sanitation solutions for the benefit of people most in need within TARGET MARKETS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.8</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;LICENSED PROCESS(ES)&rdquo;
means any process or method that: (a) but for this Agreement, comprises an infringement (including contributory or inducement),
or is covered by, a VALID CLAIM in the country in which such process or method is developed, used, imported, offered for sale
or sold; or (b) employs a LICENSED PRODUCT or is based in whole or in part on a LICENSED PRODUCT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.9</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;LICENSED PRODUCT(S)&rdquo;
means any product or service that: (a) but for this Agreement, comprises an infringement (including contributory or inducement),
or is covered by, a VALID CLAIM in the country in which any such product or product part is made, used, imported, offered for
sale or sold; or (b) is manufactured by using a LICENSED PROCESS or is employed to practice a LICENSED PROCESS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.10</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;NET SALES&rdquo;
means the amount billed or invoiced, and if any amount is not billed or invoiced, the amounts received, on sales, rental or lease,
however characterized, by LICENSEE and/or SUBLICENSEES of LICENSED PRODUCTS and uses of LICENSED PROCESSES sold, rented, used,
or leased in a country in which such LICENSED PRODUCTS (or the manufacture or use thereof) or LICENSED PROCESSES are covered by
one or more VALID CLAIMS in such country, less the following deductions (but only to the extent such deductions are otherwise
included in NET SALES and are not obtained in view of other consideration received by LICENSEE):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">cash discounts, rebates,
chargebacks, retroactive price reductions, or similar adjustments actually granted to customers for or with respect to SALE of
LICENSED PRODUCTS or LICENSED PROCESSES;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">sales taxes, value-added
taxes, tariffs, excise taxes, duties, use taxes, or similar governmental charges separately stated in such bills or invoices with
reference to particular SALES and actually paid or owed by LICENSEE or a SUBLICENSEE to a governmental unit;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">actual freight expenses
between LICENSEE or a SUBLICENSEE (or their agents) and customers, and handling or insurance expenses, to the extent such expenses
are not charged to or reimbursed by customers; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">amounts actually refunded
or credited on returns or rejections or for defective or expired LICENSED PRODUCTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Where
LICENSEE or SUBLICENSEE receives any consideration other than cash for such transactions that would otherwise qualify as NET
SALES, fair market cash value for such consideration, reasonably determined and agreed upon in good faith, by DUKE and
LICENSEE or SUBLICENSEES, shall be included in NET SALES. Where a product or activity is a LICENSED PRODUCT or LICENSED
PROCESS hereunder due to contributory infringement or inducement of infringement, NET SALES shall include SALES of the
product or process that constitutes a direct infringement of the applicable PATENT RIGHTS. Notwithstanding anything to the
contrary, NET SALES shall not include, and shall be deemed zero with respect to, (i) the distribution of reasonable
quantities of promotional samples of LICENSED PRODUCTS or LICENSED PROCESSES, (ii) LICENSED PRODUCTS or LICENSED PROCESSES
provided for research, development, or evaluation purposes at a price that is at or below LICENSEE&rsquo;s, its
AFFILIATE&rsquo;s, or the applicable SUBLICENSEE&rsquo;s reasonable, documented cost to manufacture, procure, or provide such
LICENSED PRODUCTS or LICENSED PROCESSES, calculated in a reasonable, good faith manner consistent with such Party&rsquo;s
standard accounting practices for its other products and services, and (iii) LICENSED PRODUCTS or LICENSED PROCESSES provided
by or on behalf of LICENSEE or a SUBLICENSEE for purposes of resale, provided such resale is subject to royalties on which
payments are due under Paragraph 3.1(a).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">If
a COMBINATION PRODUCT is sold in a country, NET SALES for the purposes of calculating royalties due on such COMBINATION PRODUCT
shall be calculated by multiplying the actual NET SALES of such COMBINATION PRODUCT in such country by the fraction A/A+B, where
A is the weighted average selling price of the LICENSED PRODUCT included within such COMBINATION PRODUCT when sold separately
(i.e., not as a COMBINATION PRODUCT) during the ROYALTY PERIOD in question in such country, and B is the weighted average selling
price of the Other Product(s) in the COMBINATION PRODUCT when sold separately (i.e., not in combination with any other products)
during the ROYALTY PERIOD in question in such country. If neither the LICENSED PRODUCT nor the Other Product(s) B are sold separately
in such country during the relevant period, then NET SALES allocable to such COMBINATION PRODUCT in such country during such ROYALTY
PERIOD for royalty calculation purposes will be reasonably determined in good faith by mutual agreement between the Parties, such
agreement not to be unreasonably withheld, based on an equitable method that takes into account the relative values of the LICENSED
PRODUCT and Other Product portions of such COMBINATION PRODUCT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.11</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;QUALIFYING TRANSFER&rdquo;
means a TRANSFER of a LICENSED PRODUCT OR LICENSED PROCESS as demonstrated by LICENSEE in written reports submitted to and reasonably
satisfactory to DUKE: (a) for use in a TARGET MARKET, (b) to process human fecal waste and/or including human fecal waste transported
from a wastewater treatment plant, and (c) has been &ldquo;delivered&rdquo; to the transferee in accordance with commercially reasonable
delivery terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.12</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;PATENT RIGHTS&rdquo;
means DUKE&rsquo;S legal rights under the patent laws of the United States or relevant foreign countries for all of the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the following United States
and foreign patent(s) and/or patent application(s), and divisionals, continuations (except continuations-in-part), and foreign
counterparts of the same:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">[***]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&#9679;</FONT></TD><TD><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">[***]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt">&#9679;</TD><TD><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">[***]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt">&#9679;</TD><TD><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">[***]</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">all
additions, divisionals, continuations, continuations-in-part (to the extent that the claims thereof are fully supported by
another patent or application in the PATENT RIGHTS), substitutions, extensions, registrations, patent term extensions,
revalidations, supplementary protection certificates, and renewals of any of the foregoing or claiming </FONT>priority to any
of the foregoing, any foreign counterparts of any of the foregoing, and all United States and foreign patents issued from the
applications listed in subparagraph 1.11 <FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(a)
above, or this subparagraph 1.12(b), including any reviewed, reissued or reexamined patents based upon the same.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.13</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;ROYALTY PERIOD(S)&rdquo;
means the six-month periods ending on the last days of June and December each year.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.14</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;SALE&rdquo; means
sale, rental, or lease, however characterized, and SOLD means the past tense of SALE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.15</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;SUBLICENSEE(S)&rdquo;
means any person or entity in writing sublicensed any of the rights under the PATENT RIGHTS granted to LICENSEE under this AGREEMENT,
whether such sublicense is granted by LICENSEE, any AFFILIATE thereof, or any preceding SUBLICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.16</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;SUBLICENSING REVENUE&rdquo;
means any consideration (subject to Paragraph 6.2) actually received by LICENSEE or any AFFILIATE thereof from a SUBLICENSEE as
consideration for the grant of rights under the PATENT RIGHTS (net of any tax or similar withholding obligations imposed by any
tax or other government authority(ies) that are not reasonably recoverable by LICENSEE) (e.g., license issue fees, maintenance
or annual minimum fees, milestone payments, and the like), provided that SUBLICENSING REVENUE shall exclude (a) sales-based royalties,
(b) purchases of equity or debt securities of LICENSEE or any AFFILIATE thereof for a price equal to or less than the fair market
value thereof (as reasonably determined in good faith by LICENSEE and agreed to by DUKE, such agreement not to be unreasonably
withheld), (c) fair market value payments made in connection with research and development agreements, joint ventures, partnerships,
or collaboration agreements, and documented as such in writing, and submitted to DUKE, where LICENSEE or an AFFILIATE of LICENSEE
is obligated to perform research and development of any LICENSED PRODUCT or LICENSED PROCESS, and (d) other payments made by a
SUBLICENSEE as consideration for performance of services or provision of goods by LICENSEE or an AFFILIATE of LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.17</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;TARGET MARKETS&rdquo;
means the list of countries included in this Agreement as Appendix A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.18</FONT><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;TECHNICAL
INFORMATION&rdquo; means the non-patented intellectual property (or applications therefore) that arose during the work at DUKE
performed as part of the FOUNDATION&rsquo;s grant agreements [***] including any research information, technical information,
technical data, Standard Operating Procedures (&ldquo;SOPs&rdquo;), or other information (to the extent relating in each case
to the PATENT RIGHTS or their use) and was: (a) generated at DUKE by [***] laboratory before the EFFECTIVE DATE, and (b) is otherwise
owned by DUKE and invented by [***] or personnel in his laboratory and necessary for practice of the LICENSED PRODUCT or LICENSED
PROCESS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.19
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;TERRITORY&rdquo; the world.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 43pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.20</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;TRANSFER&rdquo; means
the sale, loan, lease, or other transfer of LICENSED PRODUCTS or LICENSED PROCESSES by or on behalf of LICENSEE or its AFFILIATES.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.21</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;VALID CLAIM&rdquo;
means any claim of a pending patent application or issued and unexpired patent, included, in either case, in the PATENT RIGHTS,
that (i) has not been held unpatentable, invalid, or unenforceable by a court or other government agency of competent jurisdiction
in a decision over which no appeal can or has been taken and (ii) has not been dedicated to the public, abandoned, or admitted
to be invalid, unenforceable, or of a scope not covering the subject matter at issue through reissue, re-examination, disclaimer
or otherwise; provided, however, that if the relevant holding of such court or agency is later reversed by a court or agency with
overriding authority, the claim shall be deemed a VALID CLAIM with respect to NET SALES made after the date of such reversal to
the extent such claim otherwise remains a VALID CLAIM under this definition.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
2 &ndash; GRANT OF LICENSE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 147.1pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE hereby grants to
LICENSEE a non-exclusive license under the PATENT RIGHTS and TECHNICAL INFORMATION, with the right to grant sublicenses, subject
to the terms and conditions of this Agreement, in the FIELD OF USE and the TERRITORY to make, have made, import, use, market,
offer for sale and sell LICENSED PRODUCTS and to sell, use and/or provide LICENSED PROCESSES. During the term of this Agreement,
DUKE will not grant licenses under the PATENT RIGHTS or the TECHNICAL INFORMATION to third parties (other than the FOUNDATION)
that are more favorable to such third party licensees than this Agreement, except that Section 3.7 and the Equity Transfer Agreement
attached as Appendix B will not be considered part of the terms of this Agreement for purposes of this sentence. The rights and
licenses granted by DUKE to LICENSEE under this Paragraph 2.1 include the grant of such rights and licenses to any AFFILIATES
of LICENSEE provided that (a) LICENSEE promptly notifies DUKE in writing of any such rights and licenses granted to an AFFILIATE;
and (b) any such AFFILIATE expressly assumes, in writing, the same obligations as those of LICENSEE. LICENSEE shall be responsible
for the performance of all obligations by such AFFILIATES and for such AFFILIATES&rsquo; compliance with all terms and conditions of
this Agreement. References to LICENSEE under this Agreement shall be deemed to also include references to any such AFFILIATE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement shall expire
as follows: (a) in the TARGET MARKETS, on a country- by-country and LICENSED PRODUCT-by-LICENSED PRODUCT (or LICENSED PROCESS-
by-LICENSED PROCESS) basis [***] years after the first date on which there are no VALID CLAIMS in a particular country covering
a particular LICENSED PRODUCT (or the manufacture of use thereof) (or LICENSED PROCESS) and (b) in all markets other than the
TARGET MARKETS, on a country-by-country and LICENSED PRODUCT-by-LICENSED PRODUCT (or LICENSED PROCESS-by-LICENSED PROCESS) basis
on the first date on which there are no VALID CLAIMS in a particular country covering a particular LICENSED PRODUCT (or the manufacture
of use thereof) (or LICENSED PROCESS), unless sooner terminated as provided in another specific provision of this Agreement. Notwithstanding
the foregoing or anything to the contrary, upon expiration of this Agreement with respect to a country and LICENSED PRODUCT (or
LICENSED PROCESS), all rights granted under Paragraph 2.1 with respect thereto shall become royalty-free, fully-paid, perpetual,
and irrevocable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">The
research leading to the PATENT RIGHTS and TECHNICAL INFORMATION was funded in part by the FOUNDATION and is subject to GLOBAL
ACCESS. In accordance with GLOBAL ACCESS, including the GLOBAL ACCESS Targets listed in Paragraph 5.2, LICENSEE will use diligent
efforts to (a) develop, manufacture, and commercialize LICENSED PRODUCTS and LICENSED PROCESSES for human fecal waste treatment
as soon as practicable in the TARGET MARKETS and (b) use diligent efforts to obtain ISO31800 certification for LICENSED PRODUCTS
and LICENSED PROCESSES within [***] years from the Effective Date. LICENSEE will use diligent efforts to reduce the costs for
the LICENSED PRODUCTS and LICENSED PROCESSES to ensure affordability for the people most in need within the TARGET MARKETS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE agrees to mark
the LICENSED PRODUCTS sold in the United States with all applicable United States patent numbers as necessary to meet the requirements
of 35 U.S.C. 287 so that the full benefits of patent enforcement may be realized. All LICENSED PRODUCTS shipped to or sold in
other countries shall be marked to comply with the patent laws and practices of the countries of manufacture, use and SALE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
3 - CONSIDERATION</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 155.5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
shall pay the following to DUKE:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41.55pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B>&nbsp;</B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">On
a country-by-country basis, until expiration of the last VALID CLAIM in the applicable country, Running Royalties equal to [***]
percent of NET SALES (the &ldquo;Running Royalties&rdquo;). If LICENSEE makes any SALES to any Party affiliated with LICENSEE, or
in any way directly or indirectly related to or under the common control with LICENSEE, at a price less than the regular price
charged to other parties, the Running Royalties payable to DUKE shall be computed on the basis of the weighted average price charged
to other parties for such LICENSED PRODUCT.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(i)</FONT></TD><TD STYLE="padding-right: 16.55pt"><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Royalties
                                                                                                                          payments
                                                                                                                          shall
                                                                                                                          be triggered
                                                                                                                          by sales
                                                                                                                          of LICENSED
                                                                                                                          PRODUCTS
                                                                                                                          or LICENSED
                                                                                                                          PROCESSES
                                                                                                                          in the
                                                                                                                          FIELD
                                                                                                                          OF USE
                                                                                                                          occurring
                                                                                                                          the
                                                                                                                          earlier
                                                                                                                          of:
                                                                                                                          (a)
                                                                                                                          [***]
                                                                                                                          years
                                                                                                                          from
                                                                                                                          the
                                                                                                                          EFFECTIVE
                                                                                                                          DATE
                                                                                                                          or (b)
                                                                                                                          after
                                                                                                                          LICENSEE
                                                                                                                          completes
                                                                                                                          SALES
                                                                                                                          of [***]
                                                                                                                          UNITS.
                                                                                                                          UNITS
                                                                                                                          means
                                                                                                                          a mechanical
                                                                                                                          installation
                                                                                                                          that
                                                                                                                          processes
                                                                                                                          human
                                                                                                                          or animal
                                                                                                                          waste
                                                                                                                          and
                                                                                                                          that
                                                                                                                          is covered
                                                                                                                          by a
                                                                                                                          VALID
                                                                                                                          CLAIM.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 113pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 77pt"></TD><TD STYLE="width: 36pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(ii)</FONT></TD><TD STYLE="padding-right: 7pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">GLOBAL
                                                                                                                           ACCESS
                                                                                                                           Royalty
                                                                                                                           Exclusion.
                                                                                                                           No
                                                                                                                           royalties
                                                                                                                           will
                                                                                                                           be
                                                                                                                           due
                                                                                                                           to
                                                                                                                           DUKE
                                                                                                                           for
                                                                                                                           any
                                                                                                                           QUALIFYING
                                                                                                                           TRANSFERS.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 113pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 113pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 113pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B>&nbsp;</B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Sublicensing
Fees equal to [***] percent of any SUBLICENSING REVENUE received by LICENSEE or any AFFILIATE of LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">In addition to payment
of ongoing patent expenses pursuant to Article 7 hereof, LICENSEE shall reimburse DUKE for unreimbursed expenses incurred by DUKE
for filing and prosecution of PATENT RIGHTS that have not been reimbursed by third parties as of the EFFECTIVE DATE (&ldquo;Past
Patent Expenses&rdquo;). LICENSEE shall pay</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Past
Patent Expenses within [***] days of the EFFECTIVE DATE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 45.55pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE is not obligated
to pay multiple royalties if any LICENSED PRODUCT or LICENSED PROCESS is covered by more than one claim of PATENT RIGHTS or the
same LICENSED PRODUCT is covered by claims in two or more countries.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">All payments due to DUKE
under this Agreement shall be made payable to &ldquo;Duke University.&rdquo; Payments drawn directly on a U.S. bank may be made
by either check to the address in Article 10 or by wire transfer. Any payment drawn on a foreign bank or foreign branch of a U.S.
bank shall be made only by wire transfer. Wire transfers shall be made in accordance with the following or any other instructions
as may be specified by DUKE. If payments are made by wire, the wiring instructions below must be followed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Bank:</FONT></TD>
    <TD STYLE="width: 81%"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Wells
    Fargo Bank, N.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">420 Montgomery Street</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">San Francisco, CA 94101
    USA</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">ABA #:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">121000248 (Domestic wires
    only)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Swift Code:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">WFBIUS6S (Foreign wires
    only)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Beneficiary:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Duke University Concentration
    Account</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Account #:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">[***]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Attention:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Office of Licensing &amp;
    Ventures, 919-681-7583* FILE NUMBER: [***]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Email:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">agreements-olv@duke.edu</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">All
payments due to DUKE under this Agreement must be paid in United States Dollars in Durham, North Carolina, or at such place as
DUKE may reasonably designate consistent with the laws and regulations controlling in any foreign country. If any currency conversion
is required in connection with such payments due, such conversion must be made by using the exchange rate prevailing at Wells
Fargo Bank (N.A.) (or its successor, as the case may be) on the last business day of the reporting period to which such payments
relate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Royalty
payments shall be made on a semi-annual basis with submission of the reports required by Article 4. All amounts due under this
Agreement, including amounts due for the payment of patent expenses, shall, if overdue, be subject to a charge of interest compounded
monthly until payment, at a per annum rate of [***] percent ([***]%) above the prime rate in effect at the JP Morgan Chase Bank,
N.A. or its successor bank on the due date (or at the highest allowed rate if a lower rate is required by law). The payment of
such interest shall not foreclose DUKE from exercising any other rights it may have resulting from any late payment. LICENSEE
shall reimburse DUKE for its reasonable and documented out-of-pocket costs, including reasonable attorney fees, for expenses paid
in order to collect any amounts overdue more than [***] days.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.5</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">All payments and fees,
including all milestone fees, made under this Agreement are and shall be non-refundable and, except as explicitly set forth herein,
non-creditable. DUKE shall have no obligation whatsoever to pay, return, credit, or refund any amounts paid hereunder, except
as may be specifically provided herein. By way of example only, notwithstanding the deductions permitted to NET SALES, DUKE shall
have no obligation to pay any amounts to LICENSEE even if such deductions should result in a negative amount for NET SALES in
any given ROYALTY PERIOD.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.6</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Should LICENSEE be required
under any law or regulation of any government entity or authority to withhold or deduct any portion of the payments on royalties
due to DUKE, then the sum payable to DUKE shall be increased by the amount necessary (if any) to ensure that DUKE receives an
amount equal to the sum it would have received had no withholdings or deductions been made. DUKE shall cooperate reasonably with
LICENSEE or any SUBLICENSEE in the event LICENSEE or SUBLICENSEE elects to assert, at its own expense, any exemption from any
such tax or deduction. Additionally, if DUKE is issued or awarded any credit or refund, the amount of any such credit or refund
shall be applied against future amounts payable to DUKE under this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.7</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Equity</FONT></B><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">:
On the EFFECTIVE DATE, LICENSEE must issue to DUKE shares of LICENSEE&rsquo;s common stock representing [***] percent ([***]%) of the
Total Ownership Interests in LICENSEE as of the EFFECTIVE DATE, pursuant to the terms of the Equity Transfer Agreement attached
herein as Appendix B. &ldquo;Total Ownership Interests&rdquo; shall mean the total number of issued and outstanding shares of LICENSEE
on a fully diluted basis, including, for purposes of such calculation, issued and outstanding shares of LICENSEE&rsquo;s common stock
and other capital stock, all shares of LICENSEE&rsquo;s capital stock subject to granted, unexercised stock options, all shares of LICENSEE&rsquo;s
capital stock reserved for issuance under LICENSEE&rsquo;s stock option plan that have not been issued and are not the subject of granted,
unexercised stock options, all shares of LICENSEE&rsquo;s capital stock that can be issued pursuant to the exercise of issued, unexercised
warrants, and any other outstanding securities issued by LICENSEE that may become convertible to LICENSEE&rsquo;s capital stock (all
as calculated on an as-converted-into-LICENSEE&rsquo;s-common-stock-basis, but excluding debt securities).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
4 - REPORTS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Until
the FIRST COMMERCIAL SALE, by July 31 of each year LICENSEE shall provide to DUKE a written annual report that includes reports
on progress since the prior annual report and general future plans regarding, LICENSED PRODUCTS and LICENSED PROCESSES: research
and development, regulatory approvals, manufacturing, sublicensing, marketing and SALES. Further, LICENSEE shall specifically
report to DUKE the FIRST COMMERCIAL SALE within [***] days following the end of the ROYALTY PERIOD in which it occurs, and provide
a brief description of the products or services subject of the SALE, and terms thereof, including whether the SALE or TRANSFER
is a QUALIFYING TRANSFER and the applicable TARGET MARKET country.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">After the FIRST COMMERCIAL
SALE, LICENSEE shall provide semi-annual reports to DUKE for each ROYALTY PERIOD. Specifically, by each September 15 and March
15 (i.e., within seventy-five days after each ROYALTY PERIOD closes, including the close of the ROYALTY PERIOD immediately following
any termination of this Agreement), LICENSEE shall report to DUKE for the applicable ROYALTY PERIOD:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">number of LICENSED PRODUCTS
sold, leased, or distributed, however characterized, by LICENSEE and each SUBLICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">NET SALES, excluding the
deductions provided therefor, of LICENSED PRODUCTS SOLD by LICENSEE and SUBLICENSEES.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">a description and accounting
for all LICENSED PROCESSES SOLD, by LICENSEE and all SUBLICENSEES included in NET SALES, excluding the deductions therefor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">deductions applicable
as provided in the definition for NET SALES above, and an explanation of the rationale(s) therefor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt 41pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)
&nbsp;&nbsp;Sublicense fees on payments from SUBLICENSEES under Paragraph 3.1(b) above</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 60.25pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">foreign currency conversion
rate and calculations (if applicable) and total royalties due.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(g)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">for each sublicense or
amendment thereto completed in the particular ROYALTY PERIOD (including agreements under which LICENSEE will have LICENSED PRODUCTS
made by a third party): names, addresses, and U.S.P.T.O. Entity Status (as discussed in Paragraph 6.1) of such SUBLICENSEE; the
date of each agreement and amendment; the TERRITORY of the sublicense; the scope of the sublicense; and the nature, timing and
amounts of all fees, royalties to be paid to LICENSEE thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(h)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">summary of progress on
research and development, regulatory approvals, ISO31800 certification, manufacturing, sublicensing, marketing and SALES, and
general plans for the future with respect to LICENSED PRODUCTS and LICENSED PROCESSES, and specifically for application towards
human fecal waste treatment.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(i)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the date of FIRST COMMERCIAL
SALE of LICENSED PRODUCTS (or results of LICENSED PROCESSES) in each country, to the extent reasonably ascertainable by LICENSEE
and clearly summarized in writing to DUKE by LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(j)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the number of QUALIFYING
TRANSFERS with supporting documentation, identifying relevant TARGET MARKETS and overall percentage of QUALIFYING TRANSFERS compared
to all Transfers.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
shall include the amount of all payments due, and the various calculations used to arrive at those amounts, including the quantity,
description (nomenclature and type designation as described in Paragraph 4.3 below), country of manufacture and country of SALE
or use of LICENSED PRODUCTS and LICENSED PROCESSES.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">If
no payment is due, LICENSEE shall so report to DUKE that no payment is due. Failure to provide reports as required under this
Article 4 shall be a material breach of this Agreement. LICENSEE agrees to reasonably cooperate with DUKE regarding any questions
it may have relating to compliance with this Agreement, for example to discuss the information in reports.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall promptly
establish and consistently employ a system of specific nomenclature and type designations along with providing an annual list
to DUKE of LICENSED PRODUCTS and LICENSED PROCESSES to permit identification and segregation of various types where necessary
and shall require SUBLICENSEES to use the same nomenclature and type designations and the names under which they are commercialized.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
shall keep, and shall require SUBLICENSEES to keep, true and accurate records containing data reasonably required for the computation
and verification of payments due under this Agreement and compliance with GLOBAL ACCESS requirements. LICENSEE shall(a) open such
records for inspection upon reasonable notice during business hours, and no more than once per year for DUKE and/or the FOUNDATION,
by either DUKE auditor(s) or an independent certified accountant selected by DUKE and/or the FOUNDATION and reasonably acceptable
to LICENSEE, for the purpose of verifying the amount of payments due and compliance with GLOBAL ACCESS requirements, and shall
provide information to such accountant to facilitate such inspection; and (b) retain such records for [***] years from date of
origination. LICENSEE shall, upon DUKE&rsquo;s written request, and subject to the applicable audit provisions of any such SUBLICENSE,
exercise its audit rights with respect to royalties payable on LICENSED PRODUCTS under sublicenses granted by LICENSEE and report
the results thereof to DUKE. Any such audit findings shall be the CONFIDENTIAL INFORMATION of LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt">The terms of this Article shall survive any termination
of this Agreement. DUKE is responsible for all expenses of such inspection, except that if any inspection reveals an underpayment
greater than [***] percent ([***]%) of royalties due DUKE, then LICENSEE shall pay all reasonable and documented out-of-pocket
expenses of that inspection and the amount of the underpayment and interest to DUKE within [***]days of written notice thereof.
LICENSEE shall also reimburse DUKE for its reasonable documented out-of-pocket expenses required to collect the amount underpaid.
Any overpayment revealed by any such inspection shall be credited against future amounts due hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
5 - DILIGENCE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 171.2pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">5.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">GLOBAL ACCESS Targets.
LICENSEE shall use commercially reasonable efforts to develop and commercialize LICENSED PRODUCTS or LICENSED PROCESSES for human
fecal waste treatment within the TERRITORY through a thorough, vigorous and diligent program for exploiting the PATENT RIGHTS
and/or TECHNICAL INFORMATION and to employ active, diligent marketing efforts throughout the life of this Agreement for such LICENSED
PRODUCTS or LICENSED PROCESSES. In particular, LICENSEE will use diligent efforts to develop, manufacture, market and commercialize
LICENSED PRODUCTS and LICENSED PROCESSES for human fecal waste treatment in the TARGET MARKETS and will give priority to fulfilling
customer demands for QUALIFYING TRANSFERS over other TRANSFERS. For each QUALIFYING TRANSFER, LICENSEE will provide the applicable
customer with reasonable support for the initial set-up and on-going use of such LICENSED PRODUCT, including the training and
other services.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">5.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">GLOBAL ACCESS Targets.
LICENSEE shall use commercially reasonable efforts to meet the following targets:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 10pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;Within
[***] years from the EFFECTIVE DATE at least [***] percent ([***]%) of all TRANSFERS must be QUALIFYING TRANSFERS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT>Within [***]years from the EFFECTIVE DATE at least [***] ([***]%) of the TRANSFERS must be QUALIFYING TRANSFERS (the foregoing
requirements, together, the &ldquo;GLOBAL ACCESS Targets&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
6 - SUBLICENSING</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
shall notify DUKE in writing of every sublicense agreement and each amendment thereto within [***] days after their execution,
and indicate the name of the SUBLICENSEE, the territory of the sublicense, the scope of the sublicense, and the nature, timing
and amounts of all fees and royalties to be paid thereunder, and whether or not the SUBLICENSEE has greater or fewer than 500
employees. Upon request, LICENSEE shall provide DUKE with a copy of sublicense agreements, which LICENSEE may redact in its reasonable
discretion to protect the confidentiality of any SUBLICENSEE&rsquo;s proprietary or confidential information.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall not receive
from SUBLICENSEES anything of value other than cash payments in consideration for any sublicense under this Agreement, without
the express prior written permission of DUKE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall require
that all sublicenses: (a) be consistent with the terms and conditions of this Agreement, including compliance with GLOBAL ACCESS
requirements; (b) contain the SUBLICENSEE&rsquo;S acknowledgment of the disclaimer of warranty and limitation on DUKE&rsquo;s liability, as
provided by Article 9 below; and (c) contain provisions under which the SUBLICENSEE accepts duties at least equivalent to those
accepted by the LICENSEE in the following Paragraphs: 4.4 (duty to keep records), 10.1 (duty to defend, hold harmless, and indemnify
DUKE), 10.3 (duty to maintain insurance), 2.4 (duty to properly mark LICENSED PRODUCTS with patent notices), and 15.5 (duty to
restrict the use of DUKE&rsquo;s name).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Upon
termination of this Agreement, any sublicenses granted by LICENSEE under the PATENT RIGHTS shall, to the extent provided in
such sublicense, remain in effect and be deemed to have been assigned by LICENSEE to DUKE prior to such termination provided
that: (a) the sublicensing agreement requires the SUBLICENSEE to thereafter pay DUKE any consideration that would have been
due to LICENSEE with respect to the rights granted under this Agreement; and (b) LICENSEE remains responsible for all other
obligations thereunder to</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B> </B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the
extent applicable to LICENSEE and in excess of DUKE&rsquo;s obligations under this Agreement. If any terms of such sublicense
agreements fail to comply with the requirements of Article 6 herein relating to sublicensing, or are otherwise inconsistent
with this Agreement, and DUKE provides notice thereof to SUBLICENSEE, such inconsistent terms will be renegotiated in good
faith between DUKE and the SUBLICENSEE; provided, such sublicense will remain in effect pending resolution and mutual
agreement upon such negotiated terms. If after [***] days of such notice from DUKE, SUBLICENSEE and DUKE fail to reach
agreement over any such renegotiated terms, DUKE may immeadiately terminate said sublicense agreement. Any sublicense
executed by LICENSEE must contain language to implement this Paragraph 6.4 in order for any SUBLICENSEE to enjoy the benefits
of this Paragraph 6.4.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
7 - PATENT APPLICATIONS AND MAINTENANCE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">7.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE shall have the right
to control, and will use reasonable efforts to perform, all aspects of filing, prosecuting, and maintaining all of the patents
and patent applications that form the basis for the PATENT RIGHTS, including (a) administrative reexaminations and reviews; and
(b) disputes (including litigation) regarding inventorship and derivation, and interferences. LICENSEE shall reasonably cooperate
with DUKE in activities relating to the PATENT RIGHTS, including said activities. Upon DUKE&rsquo;s request, to the fullest extent permitted
by law, LICENSEE shall use reasonable efforts to apply for and prosecute, or support in any reasonable way DUKE&rsquo;s application
for, a patent term extension for patents included in the PATENT RIGHTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">7.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE shall (i) promptly
notify LICENSEE in writing of all information received by DUKE relating to the filing, prosecution and maintenance of the PATENT
RIGHTS, and (ii) shall make reasonable efforts to allow LICENSEE to review, comment, and advise upon such information. LICENSEE
shall hold such information confidential and to use the information provided by DUKE only for the purpose of advancing DUKE&rsquo;s
PATENT RIGHTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">7.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">During
the term of this Agreement, LICENSEE shall reimburse DUKE for all documented fees and costs relating to the activities described
in this Article. Such reimbursement shall be made within [***] days of receipt of DUKE&rsquo;s invoice and shall be subject to the interest
and other requirements specified in Article 3 above. If DUKE licenses PATENT RIGHTS to a third party, other than the FOUNDATION,
future patent expenses shall be paid on a pro-rata basis based on the number of licensees.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">7.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">If
LICENSEE provides DUKE with written notification that it will no longer support the filing, prosecution, or maintenance of a specified
patent(s) and/or patent application(s) within the PATENT RIGHTS, then LICENSEE&rsquo;s responsibility for fees and costs related to
the filing, prosecution, and maintenance of such subject PATENT RIGHTS will terminate [***] days after DUKE&rsquo;s receipt of such
written notification. At that time, such patents and/or patent applications will no longer be included in the PATENT RIGHTS (and
this Agreement is deemed to be so amended accordingly), and LICENSEE surrenders all rights under this Agreement to such patents,
patent applications, and any patent or patent applications arising therefrom.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">7.5</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall notify
DUKE promptly if, at any time during the term of this Agreement, LICENSEE, its AFFILIATES, or any of its SUBLICENSEES does not
qualify as a &ldquo;small entity&rdquo; as under section 1.27, as amended, of the Consolidated Patent Rules of the United States
Patent and Trademark Office.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
8 &ndash; INFRINGEMENT OF THIRD PARTY RIGHTS</U></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">8.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">In the event that DUKE
or LICENSEE is charged with infringement of a patent by a third party or is made a party in a civil action as a result of LICENSEE&rsquo;s
practice of the PATENT RIGHTS under this Agreement and/or use of LICENSED PRODUCTS or LICENSED PROCESSES sold by LICENSEE, LICENSEE:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT></TD><TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Must
                                                                                                                           defend
                                                                                                                           and/or
                                                                                                                           settle
                                                                                                                           any
                                                                                                                           such
                                                                                                                           claim
                                                                                                                           of
                                                                                                                           infringement
                                                                                                                           or
                                                                                                                           civil
                                                                                                                           action;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT></TD><TD STYLE="padding-right: 42.4pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Must
                                                                                                                           assume
                                                                                                                           all
                                                                                                                           costs,
                                                                                                                           expenses,
                                                                                                                           damages,
                                                                                                                           and
                                                                                                                           other
                                                                                                                           obligations
                                                                                                                           for
                                                                                                                           payments
                                                                                                                           incurred
                                                                                                                           as
                                                                                                                           a consequence
                                                                                                                           of
                                                                                                                           such
                                                                                                                           charges
                                                                                                                           of
                                                                                                                           infringement
                                                                                                                           and/or
                                                                                                                           civil
                                                                                                                           action;</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT></TD><TD STYLE="padding-right: 6.25pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Must
                                                                                                                           indemnify
                                                                                                                           and
                                                                                                                           hold
                                                                                                                           DUKE
                                                                                                                           harmless
                                                                                                                           from
                                                                                                                           any
                                                                                                                           and
                                                                                                                           all
                                                                                                                           damages,
                                                                                                                           losses,
                                                                                                                           liability,
                                                                                                                           and
                                                                                                                           costs
                                                                                                                           resulting
                                                                                                                           from
                                                                                                                           a charge
                                                                                                                           of
                                                                                                                           infringement;
                                                                                                                           and</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 41pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT></TD><TD STYLE="padding-right: 7.1pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">May,
                                                                                                                           if
                                                                                                                           such
                                                                                                                           claim
                                                                                                                           of
                                                                                                                           infringement
                                                                                                                           or
                                                                                                                           civil
                                                                                                                           action
                                                                                                                           shall
                                                                                                                           be
                                                                                                                           based
                                                                                                                           on
                                                                                                                           patent
                                                                                                                           claims
                                                                                                                           contained
                                                                                                                           in
                                                                                                                           any
                                                                                                                           pending
                                                                                                                           or
                                                                                                                           issues
                                                                                                                           patent
                                                                                                                           included
                                                                                                                           in
                                                                                                                           the
                                                                                                                           PATENT
                                                                                                                           RIGHTS,
                                                                                                                           terminate
                                                                                                                           this
                                                                                                                           Agreement
                                                                                                                           effective
                                                                                                                           immediately
                                                                                                                           upon
                                                                                                                           DUKE&rsquo;s
                                                                                                                           receipt
                                                                                                                           of
                                                                                                                           written
                                                                                                                           notice
                                                                                                                           of
                                                                                                                           termination,
                                                                                                                           and
                                                                                                                           LICENSEE
                                                                                                                           shall
                                                                                                                           have
                                                                                                                           no
                                                                                                                           further
                                                                                                                           liability
                                                                                                                           for
                                                                                                                           claims
                                                                                                                           and/or
                                                                                                                           damages
                                                                                                                           arising
                                                                                                                           subsequent
                                                                                                                           to
                                                                                                                           said
                                                                                                                           date
                                                                                                                           of
                                                                                                                           termination.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">8.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE will give LICENSEE
assistance, at LICENSEE&rsquo;s expense, in the defense of any such infringement charge or lawsuit, as may be reasonably required.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">8.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">To the extent that any
suit as handled under Article 8 involves a settlement, consent judgement or voluntary final disposition involving (i) the granting
of any rights to the PATENT RIGHTS to a third party, (ii) the invalidity or enforcement of the PATENT RIGHTS; or (iii) any stipulated
interpretation of the PATENT RIGHTS, no such settlement, consent judgement, or voluntary final disposition may be entered into
without the written consent of DUKE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
9 - NO WARRANTIES; LIMITATION ON DUKE&rsquo;S LIABILITY</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 52.3pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">9.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE makes no representations
or warranties that any claim within the PATENT RIGHTS is or will be held valid, patentable, or enforceable, or that the manufacture,
importation, use, offer for SALE, SALE or other distribution of any LICENSED PRODUCTS or LICENSED PROCESSES will not infringe
upon any patent or other rights.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">9.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>DUKE </B>MAKES NO REPRESENTATIONS,
EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE, AND ASSUMES NO RESPONSIBILITIES WHATEVER WITH RESPECT TO DESIGN, DEVELOPMENT, MANUFACTURE,
USE, <B>SALE </B>OR OTHER DISPOSITION BY <B>LICENSEE </B>OR <B>SUBLICENSEES </B>OF <B>LICENSED PRODUCTS </B>OR <B>LICENSED PROCESSES</B>.
<B>LICENSEE AND SUBLICENSEES </B>ASSUME THE ENTIRE RISK AS TO PERFORMANCE OF <B>LICENSED PRODUCTS </B>AND <B>LICENSED PROCESSES</B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">9.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">In no event shall DUKE
be responsible or liable for any direct, indirect, special, incidental, or consequential damages or lost profits or other economic
loss or damage with respect to LICENSED PRODUCTS, LICENSED PROCESSES, or the PATENT RIGHTS to LICENSEE, SUBLICENSEES, or any other
individual or entity regardless of legal or equitable theory.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">9.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall not make
any statements, representations or warranties whatsoever to any person or entity, or accept any liabilities or responsibilities
whatsoever from any person or entity that are inconsistent with any disclaimer or limitation included in this Article 9.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
10 - INDEMNITY; INSURANCE</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 129.7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">10.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall defend,
indemnify and hold harmless and shall require SUBLICENSEES to defend, indemnify and hold harmless DUKE for and against any and
all claims, demands, damages, losses, and expenses of any nature (including attorneys&rsquo; fees and other litigation expenses) (hereinafter
&ldquo;Claim&rdquo;), including, but not limited to, death, personal injury, illness, property damage, economic loss or products
liability, or errors and omissions, arising from or in connection with, any of the following: (1) Any manufacture, use, SALE or
other disposition by LICENSEE, SUBLICENSEES or transferees of LICENSED PRODUCTS or LICENSED PROCESSES; (2) The use by any third
party of LICENSED PRODUCTS made, used, sold or otherwise distributed by LICENSEE or SUBLICENSEES; (3) The use or practice by LICENSEE
or SUBLICENSEES of any invention or computer software related to the PATENT RIGHTS; and (4) to the extent they are brought as
a result of LICENSEE&rsquo;s or SUBLICENSEE&rsquo;s activities hereunder or with respect to the PATENT RIGHTS, any Claim of infringement and/or
claim of invalidity of any claim(s) of the PATENT RIGHTS.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">10.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE is entitled to participate
at its option and expense through counsel of its own selection, and may join in any legal actions related to any such claims,
demands, damages, losses and expenses under Paragraph 10.1 above. LICENSEE shall not settle any such legal action with an admission
of wrongdoing or non-indemnified liability of DUKE without DUKE&rsquo;s written approval (which shall not be unreasonably withheld).
DUKE may, at its sole discretion, reasonably cooperate with LICENSEE as requested in connection with the foregoing; provided,
however, that DUKE will reasonably cooperate with LICENSEE to the extent DUKE&rsquo;s participation in any such legal action is required
for such action to proceed.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">10.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Prior to any distribution
or commercial use of any LICENSED PRODUCT or use of any LICENSED PROCESS by LICENSEE, LICENSEE shall purchase and maintain in
effect commercial general liability insurance, product liability insurance, and errors and omissions insurance which shall protect
LICENSEE and DUKE with respect to the events covered by Paragraph 10.1 and LICENSEE shall require the same of any SUBLICENSEE.
Each such insurance policy must provide reasonable coverage for all claims with respect to any LICENSED PROCESS used and any LICENSED
PRODUCTS manufactured, used, sold, licensed or otherwise distributed by LICENSEE, or in the case of a SUBLICENSEE&rsquo;s policy, by
said SUBLICENSEE, and must specify DUKE as an additional insured. LICENSEE shall furnish proof of such insurance to DUKE, upon
request.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
11 - TERM AND TERMINATION</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 128.85pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">This
Agreement shall immediately terminate if the LICENSEE enters liquidation, has a receiver or administrator appointed over any assets
related to this Agreement, makes any voluntary arrangement with any of its creditors, or ceases to carry on business, or files
for bankruptcy or if an involuntary petition is filed against LICENSEE and is not dismissed within [***] days, or any similar
event under the law of any foreign jurisdiction. Except as set forth in Paragraph 15.8, this Agreement cannot be assumed or assigned
by LICENSEE, any trustee acting on behalf of the assets of LICENSEE, or otherwise, without DUKE&rsquo;s prior written consent, which
may not be unreasonably withheld.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
shall immediately give written notice to DUKE if LICENSEE (i) fails to meet the MILESTONES in Paragraph 5.2; or ii) shall decide
to cease to pursue commercial development of the PATENT RIGHTS for a period of time lasting [***] months or more as contemplated
herein in any country in the TERRITORY. If, in each case, LICENSEE fails to cure any such failure or cessation within [***] days
of its notice to DUKE, or as otherwise set out in reports due hereunder, then the license grants to LICENSEE set forth in Article
2 shall, in the case of item (i) in the preceding sentence, automatically be limited to the sale, offer for sale, distribution
and marketing of LICENSED PRODUCTS and LICENSED PROCESSES for QUALIFYING TRANSFERS only, and the development and manufacture of
LICENSED PRODUCTS and LICENSED PROCESSES and use of PATENT RIGHTS and TECHNICAL INFORMATION only for such purposes, and in the
case of (ii), with respect to that country in the TERRITORY shall automatically terminate without obligation on the part of DUKE
to refund any of the fees or royalties which may have been paid by LICENSEE prior to such termination. LICENSEE must provide notice
to DUKE immediately in writing if LICENSEE decides to cease to pursue commercial development of the PATENT RIGHTS for a period
of time lasting [***] months or more in any specific country in the TERRITORY as contemplated herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">If LICENSEE fails to make
any payment due to DUKE by the applicable due date therefor, such failure shall be deemed to be a material breach of this Agreement,
subject to the notice requirements and cure periods set forth in Paragraph 4.4 or 11.4. Any termination of this Agreement stemming
from such breach shall not foreclose DUKE from collection of any amounts remaining unpaid or seeking other legal relief.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 7pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Upon any material breach
or default of this Agreement by LICENSEE (other than as specifically provided herein, the terms of which shall take precedence
over the handling of any other material breach or default under this Paragraph), DUKE has the right to terminate this Agreement
effective on sixty (or, in the case of non-payment, thirty) days&rsquo; written notice to LICENSEE. Such termination shall become automatically
effective upon expiration of the applicable period unless LICENSEE cures the material breach or default before the period expires.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.5</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
has the right to terminate this Agreement at any time on [***] days&rsquo; written notice to DUKE. Upon termination pursuant to this
Paragraph 11.4, LICENSEE shall:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">pays all amounts due DUKE
through the effective date of the termination;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 41pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)&nbsp;&nbsp;&nbsp;
submits a final report of the type described in Paragraph 4.2;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 60.9pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">returns any patent documentation
(including that exchanged under Article 7) and any other Confidential Information or physical materials provided to LICENSEE by
DUKE in connection with this Agreement, or, with prior approval by DUKE, destroys such materials, and certifies in writing that
such materials have all been returned or destroyed;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">suspends its manufacture,
use and SALE of the LICENSED PROCESS(ES) and LICENSED PRODUCT(S);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.6</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Upon any termination of
this Agreement, and except as provided herein to the contrary, all rights and obligations of the parties hereunder shall cease,
except any previously accrued rights and obligations and further as follows: (a) obligations to pay royalties and other sums,
up to the termination date, or to transfer equity or other consideration, accruing hereunder up to the day of such termination,
whether or not this Agreement provides for a number of days before which actual payment is due and such date is after the day
of termination and whether or not a required funding event or other stock transfer trigger has yet been met; (b) DUKE&rsquo;s rights
to inspect books and records as described in Article 4, and LICENSEE&rsquo;s obligations to keep such records for the required time;
(c) any cause of action or claim of LICENSEE or DUKE accrued or to accrue because of any breach or default by the other Party
hereunder; (d) the provisions of Articles 1, 9, 10, and 15; and (e) all other terms, provisions, representations, rights and obligations
contained in this Agreement that by their sense and context are intended to survive until performance thereof by either or both
parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Termination
by either Party hereunder shall not alter or affect any other rights or relief that either Party may be entitled to under law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">11.7</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">If LICENSEE, or any Affiliate
thereof, asserts the invalidity or unenforceability of any claim included in the PATENT RIGHTS, including by way of litigation
or administrative proceedings, either directly or through any other party, then DUKE shall have the right to immediately terminate
this Agreement upon written notice to LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
12 - NOTICES</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 171pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Any
notice, request, or report required or permitted to be given or made under this Agreement by either Party is effective when mailed
if sent by recognized overnight carrier, certified or registered mail, or electronic mail followed by confirmation by U.S. mail,
to the address set forth below or such other address as such Party specifies by written notice given in conformity herewith. Any
notice, request, or report not so given is not effective until actually received by the other Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%; padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">To
    DUKE:</FONT></TD>
    <TD STYLE="width: 39%; padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">To
    LICENSEE:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>For delivery via the
    U.S. Postal Service</I></FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Office of Licensing &amp;
    Ventures</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">374Water, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Box 90083</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3710 Shannon Rd #51788</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Durham, NC 27708</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Durham NC, 27717</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Attention: Agreement
    Manager/File No. [***]</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Attn: [***]</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I>For
delivery via nationally/internationally recognized courier</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE
UNIVERSITY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Office
of Licensing &amp; Ventures 2812 Erwin Road, Suite 406</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Durham,
NC 27705</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Attn: Agreement
Manager/File No. [***]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I>For
delivery via electronic mail</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><I></I></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; text-underline-style: none; color: windowtext; letter-spacing: normal; word-spacing: normal; line-height: normal">agreements-olv@duke.edu
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Subject: File No. [***]
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
13 - CONFIDENTIALITY</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 147.1pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">13.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE
and LICENSEE will treat any Confidential Information disclosed to it by the other Party with reasonable care and will not disclose
such information to any other person, firm or corporation, except AFFILIATES bound by the obligations of confidentiality and restricted
use set forth in this Article 13. The receiving Party may not use the disclosing Party&rsquo;s Confidential Information other than for
the benefit of the Parties hereto and for the performance of this Agreement. These obligations of non-disclosure and restricted
use remain effect for each subject disclosure of Confidential Information for [***] years from the date of disclosure. However,
neither Party is obligated, with respect to Confidential Information disclosed to it, or any part thereof, which:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">is already known to the
receiving Party at the time of the disclosure;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">becomes publicly known
without the wrongful act or breach of this Agreement by the receiving Party;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">is rightfully received
by the receiving Party from a third party on a non- confidential basis;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">is subsequently and independently
developed by employees of the receiving Party who had no knowledge of the information, as verified by written records;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 60pt; text-indent: 0pt; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)
is approved for release by prior written authorization of the disclosing Party; or</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">is disclosed pursuant
to the requirements of applicable law or pursuant to any judicial or government requirement or order, provided that the Party
so disclosing takes reasonable steps to provide the other Party sufficient prior notice in order to contest such request, requirement
or order and provided that such disclosed Confidential Information otherwise remains subject to the obligations of confidentiality
set forth in this Article 13.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 59pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Notwithstanding
the terms of this Article 13, either Party shall be permitted to disclose the existence and terms of this Agreement to the
extent required, in the reasonable opinion of such Party&rsquo;s legal counsel, to comply with applicable laws, including the
rules and regulations promulgated by the SEC or any other Governmental Authority or securities exchange. Notwithstanding the
foregoing, before disclosing this Agreement or any of the terms hereof pursuant to this Section 13.1, the Parties will
coordinate in advance with each other and in a reasonable manner in order to allow the Party seeking disclosure to make such
disclosure within the timelines required by applicable laws (including the rules and regulations promulgated by the SEC or
any other Governmental Authority or securities exchange) or as reasonably requested by the Party seeking disclosure,
including in connection with the redaction of certain provisions of this Agreement with respect to any filings with the SEC,
Nasdaq, or any other stock exchange on which securities issued by a Party or a Party&rsquo;s Affiliate are traded, and each
Party will use commercially reasonable efforts to seek confidential treatment for such terms as may be reasonably requested
by the other Party; provided, that each Party will ultimately retain control over what information that Party discloses to
the SEC and their relevant exchange</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">13.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE
and LICENSEE agree that any information to be treated as Confidential Information under this Article 13 must be disclosed in writing
or in another tangible medium and must be clearly marked &ldquo;CONFIDENTIAL.&rdquo; Confidential Information disclosed orally must
be summarized and reduced to writing and communicated to the other Party within [***] days of such disclosure.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">13.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE may use and disclose
any Confidential Information of DUKE related to the PATENT RIGHTS, or the terms of this Agreement, to investors, prospective investors,
banking or lending institutions, acquirors, acquisition or merger targets, employees, consultants, contractors, agents, collaborators,
prospective collaborators and other third parties in the chain of manufacturing and distribution, but if and only if LICENSEE
obtains from each such recipient a written confidentiality agreement, the provisions of which are at least as protective of DUKE&rsquo;s
Confidential Information as those provided in this Article 13. However, nothing in this Article 13 shall require LICENSEE to obtain
a written confidentiality agreement from actual or prospective investors in connection with disclosures made by LICENSEE in response
to standard diligence requests or representations or warranties contained in financing or investment documents.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">13.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&ldquo;Confidential Information&rdquo;
shall mean, with respect to a Party hereto, all information regarding such Party&rsquo;s technology, products, business, finances, or
objectives, that is disclosed to the other Party and shall be marked &ldquo;CONFIDENTIAL&rdquo;. Additionally, all information relating
to filing, prosecution, maintenance, defense, infringement, and the like regarding the PATENT RIGHTS (no matter how disclosed)
is the Confidential Information of DUKE and subject to the provisions of this Article 13. DUKE acknowledges that other than information
relating to PATENT RIGHTS, DUKE has not disclosed any Confidential Information to LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
14 &ndash; DISPUTE RESOLUTION</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 113pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">14.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">In the event
of any dispute, claim, question, or disagreement arising from or relating to this agreement or the breach thereof, the Parties
hereto shall use their best efforts to settle the dispute, claim, question, or disagreement. To this effect, they shall consult
and negotiate with each other in good faith and, recognizing their mutual interests, attempt to reach a just and equitable solution
satisfactory to both parties. If they do not reach such solution within a period of [***] days of the first written notice of
dispute by either Party to the other, then, upon written request for mediation by either Party to the other, the parties agree
to try in good faith to settle the dispute by mediation administered by the American Arbitration Association under its Commercial
Mediation Procedures and to be scheduled within [***] days of the written notice requesting mediation. If the parties fail to
reach agreement by mediation, then all disputes, claims, questions, or differences shall be finally settled by arbitration administered
by the American Arbitration Association in accordance with the provisions of its Commercial Arbitration Rules. The arbitration
panel shall consist of three members, selected as follows: one member to be selected by each Party, and those two members are
to select a third member who will chair the panel. Judgment on the award rendered by the arbitrators may be entered in any court
having jurisdiction thereof and shall be binding on the parties. The negotiation, mediation, and arbitration described above shall
take place at a mutually agreed upon location in Durham, North Carolina.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">14.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Either Party may seek
to enforce any written agreement reached by the Parties during mediation, or to confirm and enforce any final award entered in
arbitration, in any court of competent jurisdiction, provided that any Party moving to enforce, confirm or vacate any such agreement
or award, as the case may be, will file such motion under seal unless prohibited under applicable court rules. Notwithstanding
the agreement to such procedures, either Party may seek equitable relief to enforce its rights in any court of competent jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><U>ARTICLE
15 - MISCELLANEOUS PROVISIONS</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 114.3pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.1</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">This Agreement shall be
governed by and construed under the laws of the state of North Carolina without regard for principles of choice of law, except
that questions affecting the construction and effect of any patent shall be determined by the law of the country in which the
patent was granted.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.2</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">DUKE and LICENSEE agree
that this Agreement sets forth their entire understanding concerning the subject matter of this Agreement. The parties may amend
this Agreement from time to time, such as to add new rights, but no modification will be effective unless both DUKE and LICENSEE
agree to it in writing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.3</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">If a court of competent
jurisdiction finds any term of this Agreement invalid, illegal or unenforceable, that term will be curtailed, limited or deleted,
but only to the extent necessary to remove the invalidity, illegality or unenforceability, and without in any way affecting or
impairing the remaining terms.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.4</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">No waiver by either Party
of any breach of this Agreement, no matter how long continuing or how often repeated, is a waiver of any subsequent breach thereof,
nor is any delay or omission on the part of either Party to exercise or insist on any right, power, or privilege hereunder a waiver
of such right, power or privilege. In no event shall any waiver be deemed valid unless it is in writing and signed by an authorized
representative of each Party.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.5</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE shall, and shall
require its AFFILIATES and SUBLICENSEES to refrain from using the name, mark, logo, image or any adaption thereof of DUKE or its
employees in publicity or advertising without the prior written approval of DUKE, except as required by law, provided that reports
in scientific literature and presentations of joint research and development work are not publicity. Notwithstanding this provision,
without prior written approval of DUKE, LICENSEE and SUBLICENSEES may state publicly that LICENSED PRODUCTS and PROCESSES were
developed by LICENSEE based upon an invention(s) developed at Duke University and/or that the PATENT RIGHTS were licensed from
Duke University. However, in no event, shall LICENSEE or SUBLICENSEES represent, either directly or indirectly, that any product
or service is a product or service of DUKE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.6</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE agrees to comply
with all applicable laws and regulations, including but not limited to all United States laws and regulations controlling the
export of commodities and technical data. LICENSEE shall be solely responsible for any violation of such laws and regulations
involving LICENSEE or its SUBLICENSEES, and to defend, indemnify and hold harmless DUKE if any legal action of any nature results
from any such violation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.7</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">It is expressly understood
and agreed that DUKE and LICENSEE are independent contractors. Neither Party is an agent of the other in connection with the exercise
of any rights hereunder, and neither has any right or authority to assume or create any obligation or responsibility on behalf
of the other. Nothing in this Agreement shall be deemed to create or constitute a partnership or joint venture between DUKE and
LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.8</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE may not assign
this Agreement without the prior written consent of DUKE and shall not pledge any of the license rights granted in this Agreement
as security for any creditor. Any attempted pledge of any of the rights under this Agreement or assignment of this Agreement not
permitted under this Paragraph 15.8 will be void from the beginning. No assignment by LICENSEE will be effective until the intended
assignee agrees in writing to accept all of the terms and conditions of this Agreement. Notwithstanding the foregoing, LICENSEE
may, without DUKE&rsquo;s consent, assign its rights and obligations under this Agreement to a purchaser or assignee (by operation of
law, contract, or otherwise) of all or substantially all of LICENSEE&rsquo;s assets or business (or that portion thereof relating to
the subject matter of this Agreement), so long as (a) LICENSEE is not in material breach of this Agreement and (b) such assignee
provides a statement in writing to DUKE that it agrees to accept all the terms and conditions of this Agreement (including, to
the extent LICENSEE does not remain liable therefor to DUKE, obligations existing as of the time of such assignment) in the place
of LICENSEE. The transfer of this Agreement by LICENSEE to an AFFILIATE shall not be considered to be an assignment subject to
this Paragraph 15.8.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">15.9</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">If the registration, recordation,
or reporting to a national or supranational agency of this Agreement, its terms, or assignment thereof is or becomes required
or advisable (e.g., as a prerequisite to enforceability of the Agreement in such nation), LICENSEE shall, at its expense, promptly
undertake such action. LICENSEE shall provide prompt notice thereof to DUKE along with copies of relevant documentation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">IN
WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate originals by their duly authorized officers or representatives.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">FOR
    LICENSEE</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">FOR
    DUKE UNIVERSITY</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 35%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 43%; padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By
    </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Yaacov Nagar</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;By</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid">/s/ Robin L. Rasor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">(authorized
    representative)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Robin
    L. Rasor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Executive
    Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Printed
    Name</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Yaacov
    Nagar </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Title
    </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 0 5pt; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Date
    </FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4/16/2021</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Date</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">April
    16, 2021</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">APPENDIX
A &ndash; TARGET MARKETS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 140.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">[***]&#9;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 98.15pt; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">APPENDIX
B - EQUITY TRANSFER AGREEMENT</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 98.15pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">THIS
EQUITY TRANSFER AGREEMENT (the &ldquo;<U>Agreement</U>&rdquo;) is made as of April 16, 2021 between 374Water, Inc., a
Delaware corporation, having offices at 3710 Shannon Rd #51877 Durham, NC 27717 (the &ldquo;<U>LICENSEE</U>&rdquo;), and Duke
University, a nonprofit educational and research institution organized under the laws of North Carolina
(&ldquo;DUKE&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">RECITALS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 98.15pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Pursuant
to that certain License Agreement (DUKE File No(s): 5116), dated April 14, 2021 (the &ldquo;<U>License</U>&rdquo;), between LICENSEE
and DUKE, DUKE licensed certain rights to LICENSEE. A copy of the License is attached to this Agreement as Schedule A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Pursuant
to Paragraph 3.7.1 of the License and in consideration thereof, the LICENSEE agreed to transfer to DUKE a specified portion of
the equity interest in LICENSEE at the times and on the basis described in such Paragraph.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
obligation of LICENSEE to issue such equity to DUKE has matured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">NOW,
THEREFORE, in consideration of the License and this Agreement, LICENSEE and DUKE agree as follows.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Issuance of Equity</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="font: 9pt/normal Sans-Serif; color: Red; letter-spacing: normal; word-spacing: normal"><B></B></FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a) In partial
consideration of the License and in satisfaction of the requirements of Paragraph 3.7 thereof, LICENSEE shall, upon execution
of this Agreement, issue DUKE a duly endorsed certificate for [***] shares or units, as applicable, of common stock of LICENSEE
(the &ldquo;<U>DUKE Equity</U>&rdquo;). The DUKE Equity is subject to the designations, powers, preferences and rights, and qualifications,
limitations and restrictions set forth in LICENSEE&rsquo;s charter or other applicable instrument relating thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>LICENSEE Representations
and Warranties</U>. LICENSEE represents and warrants to DUKE that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE is a legal entity
validly existing in good standing in its state of incorporation or organization and has the power and authority to enter into
this Agreement and to issue the DUKE Equity as contemplated hereby;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">this Agreement has been
duly authorized, executed, and delivered by LICENSEE and is a valid and binding obligation of LICENSEE, enforceable in accordance
with its terms, except as limited by laws relating to creditors&rsquo; rights and general principals of equity;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 1in; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)
&nbsp;&nbsp;&nbsp;issuance of the DUKE Equity satisfies all of the requirements of Paragraph 3.7 of the License, including
with respect to the amount or percentage of shares or units of LICENSEE equity that LICENSEE is obligated to transfer to DUKE
under Paragraph 3.7 of the License;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">upon issuance pursuant
to this Agreement, the DUKE Equity will be free of any lien, charge or other encumbrance, and will be validly issued, fully-paid
and non-assessable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">issuance
of the DUKE Equity does not and will not violate (i) the charter, bylaws or operating agreement, as applicable, of LICENSEE
(ii) any rights of preemption, first offer, first refusal, co-sale, registration, dividends or similar rights (collectively,
&ldquo;<U>Equity Rights</U>&rdquo;), (iii) any agreement by which LICENSEE, its owners, property or assets are bound, or (iv)
any Federal or applicable state securities law, rule or regulation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">the
DUKE Equity constitutes [***]% of the Total Ownership Interests of LICENSEE as of the Effective Date. For the purposes of this
provision, &ldquo;Total Ownership Interests&rdquo; shall have the same meaning as in Paragraph 3.7 of the License.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>DUKE&rsquo;s Representations
and Warranties</U>. DUKE represents and warrants to LICENSEE that (a) DUKE is a nonprofit educational and research institution
organized under the laws of North Carolina; (b) this Agreement is a valid and binding obligation of DUKE, enforceable in accordance
with its terms, except as limited by laws relating to creditors&rsquo; rights and general principals of equity; (c) DUKE has full power
and authority to execute and deliver this Agreement; and (d) DUKE is an &ldquo;accredited investor&rdquo;, as that term is defined
in Rule 501(a) of Regulation D, as promulgated under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Additional
Rights</U>. LICENSEE agrees DUKE shall be entitled as of the date hereof to all the contractual rights granted by LICENSEE to
the holders of the same type and class of equity security issued to DUKE pursuant to Paragraph 1 hereof, including, by way of
example and not limitation, Equity Rights, any cash flow priority or preference and any reporting obligations; subject, however,
to any threshold limitations applied on an equal basis to all holders of such equity security. Notwithstanding any such threshold
limitation, for so long as DUKE holds not less than [***]% of the issued and outstanding equity interest of LICENSEE, LICENSEE
shall provide to DUKE the highest level of written financial and other information that LICENSEE provides to holders of equity
interest in LICENSEE. DUKE agrees to promptly execute and deliver to LICENSEE the documents relating to such contractual rights
and to be bound by the provisions thereof; provided, that DUKE shall have no obligation to become Party to any voting agreement
or voting trust. To the extent DUKE fails to timely exercise any of such rights, LICENSEE shall be entitled to interpret such
failure as a waiver thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">5.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Limited
Transferability</U>. DUKE acknowledges that (a) the DUKE Equity will not be registered under the Securities Act, (b) DUKE is
taking the DUKE Equity for its own account and not with a view towards resale or redistribution thereof, and (c) the DUKE
Equity may not be sold or transferred unless (i) registered under the Securities Act and registered or qualified under
applicable state securities laws, or (ii) pursuant to an applicable exemption from such registration or qualification
requirements and LICENSEE receives an opinion of counsel reasonably acceptable to LICENSEE to the effect that no such
registration or qualification is required. Accordingly, until the DUKE Equity has been registered under the Securities Act or
LICENSEE receives an opinion of counsel to DUKE to the foregoing effect or to the effect that the DUKE Equity can be freely
transferred under Rule 144 promulgated under the Securities Act, the certificate or other instrument evidencing the DUKE
Equity shall bear the following legend:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">THE
SECURITY REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES
LAW. NEITHER THIS SECURITY NOR ANY PORTION HEREOF OR INTEREST HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF UNLESS THE SAME IS REGISTERED UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW, OR UNLESS AN EXEMPTION FROM
SUCH REGISTRATION IS AVAILABLE AND THE ISSUER SHALL HAVE RECEIVED, AT THE EXPENSE OF THE HOLDER HEREOF, EVIDENCE OF SUCH EXEMPTION
REASONABLY SATISFACTORY TO THE ISSUER (WHICH MAY INCLUDE, AMONG OTHER THINGS, AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>General</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Assignment</I>. This
Agreement is not assignable by LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Binding Effect</I>.
All of the covenants and provisions of this Agreement shall bind and inure to the benefit of successors and permitted assigns
and transferees of LICENSEE and DUKE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Notices</I>. Any notice,
request, claim or other communication hereunder must be in writing and will be deemed to have been duly given if delivered by
hand or if sent by certified mail, postage and certification prepaid, to LICENSEE and DUKE at the addresses for each set forth
in the introductory paragraph of this Agreement. Either Party may change such address by giving notice to the other in the manner
required by this subsection.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Entire Agreement; Amendments</I>.
This Agreement and the License constitute the entire agreement between LICENSEE and DUKE with respect to the subject matter of
this Agreement. LICENSEE and DUKE may only amend this Agreement by a written instrument executed by them both.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Governing Law</I>.
This Agreement will be construed and governed by the laws of the state of incorporation of LICENSEE, without giving effect to
principals of conflicts of laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Counterparts</I>. This
Agreement may be executed in any number of counterparts and by facsimile, each of which will be an original, but all of which
together shall constitute one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
and DUKE have executed this EQUITY TRANSFER Agreement as of the date first written above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>LICENSEE:</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>DUKE:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Name:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Title:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">26</P>

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<DOCUMENT>
<TYPE>EX-99.7
<SEQUENCE>8
<FILENAME>ex10_5.htm
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<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 10pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; text-indent: 0"><FONT STYLE="letter-spacing: normal; line-height: normal; word-spacing: normal"><B>Exhibit
10.5</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 140.55pt 0 139.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Certain
identified information in this document has been excluded because it is both (i)&nbsp;not material and (ii)&nbsp;would be competitively
harmful if publicly disclosed, and has been marked with &ldquo;[***]&rdquo; to indicate where omissions have been made.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>EQUITY
TRANSFER AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 140.55pt 0 139.7pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">THIS
EQUITY TRANSFER AGREEMENT (the &ldquo;<U>Agreement</U>&rdquo;) is made as of April 16, 2021 between 374Water, Inc., a
Delaware corporation, having offices at 3710 Shannon Rd #51877 Durham, NC 27717 (the &ldquo;<U>LICENSEE</U>&rdquo;), and Duke
University, a nonprofit educational and research institution organized under the laws of North Carolina
(&ldquo;DUKE&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 19.75pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">RECITALS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 140.55pt 0 139.6pt; text-align: center"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.75pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Pursuant to that certain License Agreement (DUKE File No(s): [***],
dated April 16, 2021 (the &ldquo;<U>License</U>&rdquo;), between LICENSEE and DUKE, DUKE licensed certain rights to LICENSEE. A
copy of the License is attached to this Agreement as Schedule A.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 11.75pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 15.75pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">Pursuant
to Paragraph 3.7 of the License and in consideration thereof, the LICENSEE agreed to transfer to DUKE a specified portion of the
equity interest in LICENSEE at the times and on the basis described in such Paragraph.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 15.75pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">The
obligation of LICENSEE to issue such equity to DUKE has matured.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">NOW,
THEREFORE, in consideration of the License and this Agreement, LICENSEE and DUKE agree as follows.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">1.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Issuance of Equity</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.15pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">(a)
In partial consideration of the License and in satisfaction of the requirements of Paragraph 3.7 thereof, LICENSEE shall, upon
execution of this Agreement, issue DUKE a duly endorsed certificate for [***] shares or units, as applicable, of common stock
of LICENSEE (the &ldquo;<U>DUKE Equity</U>&rdquo;). The DUKE Equity is subject to the designations, powers, preferences and rights,
and qualifications, limitations and restrictions set forth in LICENSEE&rsquo;s charter or other applicable instrument relating thereto.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.15pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">2.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>LICENSEE Representations
and Warranties</U>. LICENSEE represents and warrants to DUKE that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.95pt 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE is a legal entity
validly existing in good standing in its state of incorporation or organization and has the power and authority to enter into
this Agreement and to issue the DUKE Equity as contemplated hereby;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">this Agreement has been
duly authorized, executed, and delivered by LICENSEE and is a valid and binding obligation of LICENSEE, enforceable in accordance
with its terms, except as limited by laws relating to creditors&rsquo; rights and general principals of equity;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.9pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">issuance of the DUKE Equity
satisfies all of the requirements of Paragraph 3.7 of the License, including with respect to the amount or percentage of shares
or units of LICENSEE equity that LICENSEE is obligated to transfer to DUKE under Paragraph 3.7 of the License;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
&nbsp;</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">upon issuance pursuant
to this Agreement, the DUKE Equity will be free of any lien, charge or other encumbrance, and will be validly issued, fully-paid
and non-assessable;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">issuance of the DUKE Equity
does not and will not violate (i) the charter, bylaws or operating agreement, as applicable, of LICENSEE (ii) any rights of preemption,
first offer, first refusal, co-sale, registration, dividends or similar rights (collectively, &ldquo;<U>Equity Rights</U>&rdquo;),
(iii) any agreement by which LICENSEE, its owners, property or assets are bound, or (iv) any Federal or applicable state securities
law, rule or regulation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><FONT STYLE="font-size: 10pt">the DUKE Equity constitutes [***]% of the Total Ownership Interests of LICENSEE
as of the Effective Date. For the purposes of this provision, &ldquo;Total Ownership Interests&rdquo; shall have the same meaning
as in Paragraph 3.7 of the License.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">3.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>DUKE&rsquo;s Representations
and Warranties</U>. DUKE represents and warrants to LICENSEE that (a) DUKE is a nonprofit educational and research institution
organized under the laws of North Carolina; (b) this Agreement is a valid and binding obligation of DUKE, enforceable in accordance
with its terms, except as limited by laws relating to creditors&rsquo; rights and general principals of equity; (c) DUKE has full power
and authority to execute and deliver this Agreement; and (d) DUKE is an &ldquo;accredited investor&rdquo;, as that term is defined
in Rule 501(a) of Regulation D, as promulgated under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.7pt 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">4.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal"><FONT STYLE="font-size: 10pt"><U>Additional Rights</U>. LICENSEE agrees DUKE shall be entitled as of the date
hereof to all the contractual rights granted by LICENSEE to the holders of the same type and class of equity security issued to
DUKE pursuant to Paragraph 1 hereof, including, by way of example and not limitation, Equity Rights, any cash flow priority or
preference and any reporting obligations; subject, however, to any threshold limitations applied on an equal basis to all holders
of such equity security. Notwithstanding any such threshold limitation, for so long as DUKE holds not less than [***]% of the
issued and outstanding equity interest of LICENSEE, LICENSEE shall provide to DUKE the highest level of written financial and
other information that LICENSEE provides to holders of equity interest in LICENSEE. DUKE agrees to promptly execute and deliver
to LICENSEE the documents relating to such contractual rights and to be bound by the provisions thereof; provided, that DUKE shall
have no obligation to become Party to any voting agreement or voting trust. To the extent DUKE fails to timely exercise any of
such rights, LICENSEE shall be entitled to interpret such failure as a waiver thereof.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 41pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">5.</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><U>Limited Transferability</U>.
DUKE acknowledges that (a) the DUKE Equity will not be registered under the Securities Act, (b) DUKE is taking the DUKE Equity
for its own account and not with a view towards resale or redistribution thereof, and (c) the DUKE Equity may not be sold or transferred
unless (i) registered under the Securities Act and registered or qualified under applicable state securities laws, or (ii) pursuant
to an applicable exemption from such registration or qualification requirements and LICENSEE receives an opinion of counsel reasonably
acceptable to LICENSEE to the effect that no such registration or qualification is required. Accordingly, until the DUKE Equity
has been registered under the Securities Act or LICENSEE receives an opinion of counsel to DUKE to the foregoing effect or to
the effect that the DUKE Equity can be freely transferred under Rule 144 promulgated under the Securities Act, the certificate
or other instrument evidencing the DUKE Equity shall bear the following legend:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 16.45pt 0 5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 43.35pt 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">THE
SECURITY REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES
LAW. NEITHER THIS SECURITY NOR ANY PORTION HEREOF OR INTEREST HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR OTHERWISE
DISPOSED OF UNLESS THE SAME IS REGISTERED UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW, OR UNLESS AN EXEMPTION FROM
SUCH REGISTRATION IS AVAILABLE AND THE ISSUER SHALL HAVE RECEIVED, AT THE EXPENSE OF THE HOLDER HEREOF, EVIDENCE OF SUCH EXEMPTION
REASONABLY SATISFACTORY TO THE ISSUER (WHICH MAY INCLUDE, AMONG OTHER THINGS, AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 43.35pt 0 41pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; margin-left: 5pt; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<U>General</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(a)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Assignment</I>. This
Agreement is not assignable by LICENSEE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(b)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Binding Effect</I>.
All of the covenants and provisions of this Agreement shall bind and inure to the benefit of successors and permitted assigns
and transferees of LICENSEE and DUKE.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(c)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Notices</I>. Any notice,
request, claim or other communication hereunder must be in writing and will be deemed to have been duly given if delivered by
hand or if sent by certified mail, postage and certification prepaid, to LICENSEE and DUKE at the addresses for each set forth
in the introductory paragraph of this Agreement. Either Party may change such address by giving notice to the other in the manner
required by this subsection.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(d)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Entire Agreement; Amendments</I>.
This Agreement and the License constitute the entire agreement between LICENSEE and DUKE with respect to the subject matter of
this Agreement. LICENSEE and DUKE may only amend this Agreement by a written instrument executed by them both.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.85pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(e)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Governing Law</I>.
This Agreement will be construed and governed by the laws of the state of incorporation of LICENSEE, without giving effect to
principals of conflicts of laws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 5pt; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">(f)</FONT><FONT STYLE="font: 7pt/normal Times New Roman, Times, Serif; letter-spacing: normal; word-spacing: normal">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><I>Counterparts</I>. This
Agreement may be executed in any number of counterparts and by facsimile, each of which will be an original, but all of which
together shall constitute one and the same instrument.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.8pt 0 77pt; text-align: justify; text-indent: 0in"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">[<I>Next
page is the signature page</I>]</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.25pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.25pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 159.25pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10pt; text-indent: 35.95pt"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">LICENSEE
and DUKE have executed this EQUITY TRANSFER Agreement as of the date first written above.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>LICENSEE:</B></FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal"><B>DUKE:</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/ Yaacov Nagar</TD>
    <TD STYLE="width: 5%"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: left; vertical-align: bottom"><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">By</FONT></TD>
    <TD STYLE="width: 43%; border-bottom: Black 1pt solid">/s/ Robin L. Rasor</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Name:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Yaacov Nagar</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Robin L. Rasor</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">CEO</FONT></TD>
    <TD><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; letter-spacing: normal; word-spacing: normal; line-height: normal">Executive Director, OLV</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="letter-spacing: normal; word-spacing: normal; line-height: normal">&nbsp;</FONT></P>

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.8
<SEQUENCE>9
<FILENAME>ex10_6.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.6</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>MBH and 374Water &mdash; Binding Memorandum
of Understanding</U></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This MEMORANDUM OF UNDERSTANDING (MOU) is dated
as of March 30, 2021, between MB Holding Inc., an Indiana corporation (&ldquo;MBH&rdquo;) and 374Water Inc., a Delaware corporation
(&ldquo;374Water&rdquo;).</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">1.</TD><TD STYLE="text-align: justify">The purpose of this MOU is to define the key terms of a strategic relationship between MBH and
374Water as it relates to 374Water&rsquo;s Supercritical Water Oxidation (SCWO) technology and its AirSCWO Nix systems. MBH and 374Water
intend to use commercially reasonable efforts to enter a contractual relationship to collaborate on the commercial manufacturing
and service of AirSCWO Nix systems.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">2.</TD><TD STYLE="text-align: justify">Based on both companies&rsquo; interest in providing advanced treatment of waste streams in the United
States of America (USA) and Canada for the purpose of recovering resources and eliminating emerging contaminants and &ldquo;forever
chemicals,&rdquo; MBH and 374Water have identified several areas for collaboration as stated below:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">3.</TD><TD STYLE="text-align: justify">374Water will provide the specifications and blueprints for the building of the first AirSCWO Nix6
demonstration units as well as projected operating and testing procedures. MBH will engage with equipment suppliers and service
providers, source and purchase the system components and fabricate functional demonstration units. 374Water currently plans to
develop the AirSCWO Nix6 and the AirSCWO Nix30 treatment units and may elect to develop different system scales.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">4.</TD><TD STYLE="text-align: justify">MBH will fabricate the first demonstration units at its HQ facility in Kokomo, IN.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">5.</TD><TD STYLE="text-align: justify">MBH will invest $1.135M in PWVI Series D Preferred Equity offering at $15 per share which converts
1:50 into $0.30 per share common stock no later than March 31, 2021 and receive Stock options for an additional $1.135M at $0.30
per share. The Stock option will have a term of one year and will be executed or extended based on the public market performance
of 374Water/PowerVerde&rsquo;s stock price. The option will be extended for an additional period of 12 months should the share price
trade below $0.30 for 20 days out of 30 in any given month period until expiration. If the share price trades below $.30 for 20
days out of 30 in the second year, it would be extended for a third year. MBH shall exercise the option should the share price
trade at or above $1.20 for 20 days out of 30 in any given month period. The MBH option will be executed should 374Water/PowerVerde
up list to a major stock exchange. The option will expire no later than March 31, 2024. Conversion Ratio and Conversion Price shall
be adjusted proportionately if the company decided to (A) subdivide outstanding shares of Common Stock into a larger number of
shares, or (B) combine (including by way of reverse stock split) outstanding shares of Common Stock to smaller number of shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">6.</TD><TD STYLE="text-align: justify">A Board Observer seat will be offered after the initial $1.135M investment to allow full transparency
of the company&rsquo;s activities and strategic direction. 374Water will offer MBH a seat on the merged company Board of Directors after
the additional $1.135M Stock Options are exercised (subject to shareholder approval).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>MBH and 374Water &mdash; Binding Memorandum
of Understanding</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">7.</TD><TD STYLE="text-align: justify">374Water will grant MBH exclusive rights to fabricate and service AirSCWO Nix units for their USA
and Canada markets of expertise, which consist of biosolids, municipal drinking water and municipal wastewater sludge at the profit
percentages as described in the collaboration addendum, 374Water may terminate for a cause. For the purpose of increasing the rate
and volume of sales in the USA and Canada, if a collaboration partner other than MBH can demonstrate the ability to fabricate or
service units at an equal or better value than MBH, then 374Water may at its sole discretion issue the other collaboration partner
the right to fabricate or service AirSCWO Nix units for its customers, as long as they do not compete with customers in MBH currently
held markets.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">8.</TD><TD STYLE="text-align: justify">MBH will scale up 374Water manufacturing capabilities as needed, to ensure machines are delivered
on schedule, to specification and with exceptional quality control.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">9.</TD><TD STYLE="text-align: justify">The profit percentages shown in the collaboration addendum are MBH base rates for 374Water. MBH
reserves the right to renegotiate after Unit #3 is complete to ensure the rates are fit for purpose and meet the mutual expectations
of both parties.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">10.</TD><TD STYLE="text-align: justify">MBH will support for the mobilization, deployment, and onsite installation of the Nix units, leveraging
their personnel and ability to work across the USA and Canada.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">11.</TD><TD STYLE="text-align: justify">374Water will collaborate MBH to provide after-sale services, including maintenance, central control
center, and tech support to its customers and provide the option to operate AirSCWO Nix systems as a service. System upgrades could
be rolled out by 374Water and 374Water will always have access to data (loT) and physical access to all units.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">12.</TD><TD STYLE="text-align: justify">The parties will work using an &ldquo;open book&rdquo; arrangement. This &ldquo;esprit de corps&rdquo;
mentality ensures MBH in good faith will provide 374Water with all internal and contract labor usage and identify the billing rate
of each. All costs incurred in the project will be documented and reported to 374Water at regular intervals in arrears, (e.g. weekly
or monthly), and 374Water will have customary rights to periodically audit the books and records of MBH as they relate to the partnership
with 374Water.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">13.</TD><TD STYLE="text-align: justify">Due to the nature and novelty of the systems neither party can know with certainty the final cost
in advance. If MBH cannot assemble the units at a competitive cost and at a quality performance level, then 374Water has the option
to outsource any or all of the assembly and fabrication.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">14.</TD><TD STYLE="text-align: justify">The parties will maintain strict confidentiality of all non-public information relating to the
proposed transactions and operations set forth in this MOU. MBH acknowledges that its relationship with 374Water is a &ldquo;work
for hire&rdquo; relationship and that all intellectual property related to the units, whether patented, trade secret, process, know
how or other intellectual property belongs to 374Water.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B><U>MBH and 374Water &mdash; Binding Memorandum
of Understanding</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">15.</TD><TD STYLE="text-align: justify">The parties will use their use reasonable efforts to draft, negotiate and execute on or before
April 30, 2021, definitive agreements for the proposed transactions, consistent with the terms of this MOU and containing other
language (non-solicitation, non-compete clauses, etc.) which is customary for comparable transactions. This MOU and all of the
agreements will be governed by the laws of the State of Delaware.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">16.</TD><TD STYLE="text-align: justify">Each party will cover its own expenses except as those noted above.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt">17.</TD><TD STYLE="text-align: justify">INDEMNIFICATION</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 63pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 27pt">17.1</TD><TD STYLE="text-align: justify">TO THE - FULLEST EXTENT PERMITTED BY LAW, 374WATER AND ITS AFFILIATE COMPANIES AND SUBCONTRACTORS
SHALL INDEMNIFY, DEFEND, AND HOLD HARMLESS MERRELL BROS. INC. AND ITS AFFILIATE COMPANIES FROM ANY CLAIMS, DAMAGES, LOSSES AND
EXPENSES, INCLUDING BUT NOT LIMITED TO ATTORNEY&rsquo;S FEES OR DISPUTE RESOLUTION COSTS, ARISING OUT OF OR RESULTING FROM UNSAFE DESIGN
OF THE UNITS.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 99pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 72pt"></TD><TD STYLE="width: 27pt">17.2</TD><TD STYLE="text-align: justify">TO THE FULLEST EXTENT PERMITTED BY LAW, MERRELL BROS. INC. AND ITS AFFILIATE COMPANIES AND SUBCONTRACTORS
SHALL INDEMNIFY, DEFEND, AND HOLD HARMLESS 374WATER AND ITS AFFILIATE COMPANIES FROM ANY AGAINST CLAIMS, DAMAGES, LOSSES AND EXPENSES,
INCLUDING BUT NOT LIMITED TO ATTORNEY&rsquo;S FEES OR DISPUTE RESOLUTION COSTS, ARISING OUT OF OR RESULTING FROM THE FABRICATION, INSTALLATION,
OR UNSAFE OPERATION OF THE UNITS BY MERRELL BROS. INC. AND ITS AFFILIATED COMPANIES.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 99pt; text-align: justify; text-indent: -27pt">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">MB Holdings Inc.</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">374Water Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Terry Merrell</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Yaacov Nagar</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 42%"><FONT STYLE="font-size: 10pt">Terry Merrell, Treasurer</FONT></TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 42%"><FONT STYLE="font-size: 10pt">Yaacov Nagar, CEO</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">3</P>

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

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