<SEC-DOCUMENT>0001104659-20-139238.txt : 20201223
<SEC-HEADER>0001104659-20-139238.hdr.sgml : 20201223
<ACCEPTANCE-DATETIME>20201223172031
ACCESSION NUMBER:		0001104659-20-139238
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20201218
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20201223
DATE AS OF CHANGE:		20201223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ClearSign Technologies Corp
		CENTRAL INDEX KEY:			0001434524
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35521
		FILM NUMBER:		201413568

	BUSINESS ADDRESS:	
		STREET 1:		12870 INTERURBAN AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98168
		BUSINESS PHONE:		(206) 673-4848

	MAIL ADDRESS:	
		STREET 1:		12870 INTERURBAN AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98168

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CLEARSIGN COMBUSTION CORP
		DATE OF NAME CHANGE:	20080507
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2039262d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of report (Date of earliest event
reported): December 18, 2020</B></P>

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

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CLEARSIGN TECHNOLOGIES CORPORATION</B></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-35521</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>26-2056298</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(State or other jurisdiction of</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>incorporation)</B></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(Commission File Number)</B></FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(IRS Employer Identification No.)</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>12870 Interurban Avenue South</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Seattle, Washington 98168</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>206-673-4848</B></P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR240.14a-12)</P>

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

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 33%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading Symbol(s)</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 33%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name of each exchange on which<BR>
registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common Stock</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CLIR</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The Nasdaq Stock Market LLC</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: 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).&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerging
growth company&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: 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;</FONT> <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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

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

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

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

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&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="width: 73px; padding: 0.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1.01</B></FONT></TD>
    <TD STYLE="padding: 0.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Entry into a Material Definitive Agreement. </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 23, 2020,
ClearSign Technologies Corporation (the &ldquo;Company&rdquo;) entered into an At-the-Market Sales Agreement (the &ldquo;Sales
Agreement&rdquo;) with Virtu Americas LLC, as agent (&ldquo;Virtu&rdquo;), pursuant to which the Company may offer and sell, from
time to time through Virtu, shares of the Company&rsquo;s common stock, par value $0.0001 per share (the &ldquo;Common Stock&rdquo;),
having an aggregate offering price of up to $15.0 million (the &ldquo;Shares&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The offer and sale
of the Shares will be made pursuant to a shelf registration statement on Form S-3 and the related prospectus (File No. 333-232402)
filed by the Company with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on June 27, 2019 and declared effective
by the SEC on July 12, 2019, as supplemented by a prospectus supplement dated December 23, 2020 and filed with the SEC pursuant
to Rule 424(b) under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;, and such offering, the &ldquo;Offering&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Sales
Agreement, Virtu may sell the Shares by any method permitted by law deemed to be an &ldquo;at the market offering&rdquo; as defined
in Rule 415(a)(4) of the Securities Act or any other method permitted by law. Virtu will use commercially reasonable efforts consistent
with its normal trading and sales practices to sell the Shares from time to time, based upon instructions from the Company, including
any price or size limits or other customary parameters or conditions the Company may impose.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is not
obligated to make any sales of the Shares under the Sales Agreement. The offering of Shares pursuant to the Sales Agreement will
terminate upon the earliest of (a) the sale of all of the Shares subject to the Sales Agreement or (b) the termination of the Sales
Agreement by Virtu or the Company, as permitted therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will pay
Virtu a commission rate of up to 3.0% of the aggregate gross proceeds from each sale of Shares and have agreed to provide Virtu
with customary indemnification and contribution rights. The Company will also reimburse Virtu for certain specified expenses in
connection with entering into the Sales Agreement. The Sales Agreement contains customary representations and warranties and conditions
to the placements of the Shares pursuant thereto.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing description
of the Sales Agreement is not complete and is qualified in its entirety by reference to the full text of such agreement, a copy
of which is filed herewith as Exhibit 1.1 to this Current Report on Form 8-K and is incorporated herein by reference. The opinion
of the Company&rsquo;s counsel regarding the validity of the Shares that will be issued pursuant to the Sales Agreement is also
filed herewith as Exhibit 5.1.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Current Report
on Form 8-K shall not constitute an offer to sell or the solicitation of an offer to buy the Common Stock discussed herein, nor
shall there be any offer, solicitation, or sale of Common Stock in any state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such state.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Waiver from clirSPV LLC of its Participation Right</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection
with a private placement of the Company&rsquo;s Common Stock pursuant to a Stock Purchase Agreement, dated July 12, 2018, the
Company granted to clirSPV LLC (the &ldquo;SPV&rdquo;) a right to purchase certain new equity securities that the Company
sells for the purpose of raising capital on terms and conditions no different from those offered to other purchasers (the
 &ldquo;Participation Right&rdquo;). The purpose of the Participation Right is to allow the SPV to keep its 19.99% ownership
of the Company&rsquo;s Common Stock (the &ldquo;Percentage Ownership&rdquo;). In no event may the SPV exercise the
Participation Right to the extent it would cause the SPV to own 20% or more of the Company&rsquo;s then outstanding shares of
Common Stock or hold shares with 20% or more of the voting power of the Company. The Company and the SPV entered into a
written waiver dated December 18, 2020, pursuant to which the SPV waived its right to exercise the Participation Right in
connection with the Offering. In lieu of participating in the Offering, the Company and the SPV agreed that, for each sale of
no less than 100,000 shares of Common Stock to a single investor (each such sale, a &ldquo;Block Trade&rdquo;) made in the
Offering, the SPV may, for a period of 20 business days following such Block Trade, purchase from the Company at the price
sold to such investor in the Block Trade, unregistered shares of Common Stock up to a number of shares of Common Stock that
will allow the SPV to maintain the Percentage Ownership.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Robert T. Hoffman Sr.,
one of the Company's directors, is the managing member of GPCLIRSPV LLC, which is the managing member of the SPV. Mr. Hoffman has
voting and investment control over the shares of Common Stock owned by the SPV. The SPV is the largest shareholder of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The statements in this Current Report include
forward-looking statements regarding the intent, belief or current expectations of the Company and members of its management team,
as well as the assumptions on which such statements are based, and generally are identified by the use of words such as &ldquo;may,&rdquo;
 &ldquo;will,&rdquo; &ldquo;seeks,&rdquo; &ldquo;strives,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;estimates,&rdquo;
 &ldquo;expects,&rdquo; &ldquo;plans,&rdquo; &ldquo;intends,&rdquo; &ldquo;should&rdquo; or similar expressions. Actual results
may differ materially from those contemplated by such forward-looking statements, including as a result of those factors set forth
in the Risk Factors section of the Company&rsquo;s most recent Annual Report on Form 10-K for the year ended December 31, 2019
filed on March 30, 2020 and all other filings with the Securities and Exchange Commission after that date. Forward-looking statements
speak only as of the date they are made, and the Company undertakes no obligation to update or revise forward-looking statements
to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time, unless
required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&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: 73px; padding: 0.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9.01</B></FONT></TD>
    <TD STYLE="padding: 0.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Financial Statements and Exhibits. </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit No. </FONT></TD>
    <TD STYLE="padding-bottom: 1pt; width: 2%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2039262d1_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2039262d1_ex1-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At-the-Market Sales Agreement, dated December 23, 2020, by and between ClearSign Technologies Corporation and Virtu Americas LLC. </FONT></A></TD></TR>
<TR STYLE="background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2039262d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2039262d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Mitchell Silberberg &amp; Knupp LLP.</FONT></A></TD></TR>
<TR STYLE="background-color: White">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap; vertical-align: top"><A HREF="tm2039262d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="tm2039262d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Mitchell Silberberg &amp; Knupp (contained in Exhibit 5.1).</FONT></A></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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

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

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CLEARSIGN TECHNOLOGIES CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: December 23, 2020</FONT></TD>
    <TD STYLE="width: 3%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 47%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Colin J.
    Deller</font></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colin J. Deller</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2039262d1_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
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     <TITLE></TITLE>
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<P STYLE="text-align: right; margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 1.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CLEARSIGN TECHNOLOGIES CORPORATION</B><BR>
Shares of Common Stock</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(par value $0.0001 per share)</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">December&nbsp;23, 2020</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">165 Broadway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10006</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ClearSign Technologies
Corporation, a Washington corporation (the &ldquo;<B><U>Company</U></B>&rdquo;), confirms its agreement (this &ldquo;<B><U>Agreement</U></B>&rdquo;)
with Virtu Americas LLC (the &ldquo;<B><U>Agent</U></B>&rdquo;), as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Issuance
and Sale of Shares</U>. The Company agrees that, from time to time during the term of this Agreement, on the terms and subject
to the conditions set forth herein, it may issue and sell through the Agent, shares of common stock (the &ldquo;<B><U>Placement
Shares</U></B>&rdquo;) of the Company, par value $0.0001 per share (the &ldquo;<B><U>Common Stock</U></B>&rdquo;); <I>provided</I>,
<I>however</I>, that in no event shall the Company issue or sell through the Agent such number or dollar amount of Placement Shares
that would (a)&nbsp;exceed the number or dollar amount of shares of Common Stock registered on the effective Registration Statement
(defined below) pursuant to which the offering is being made, (b)&nbsp;exceed the number of authorized but unissued shares of Common
Stock (less shares of Common Stock issuable upon exercise, conversion or exchange of any outstanding securities of the Company
or otherwise reserved from the Company&rsquo;s authorized capital stock), (c)&nbsp;exceed the number or dollar amount of shares
of Common Stock permitted to be sold under Form&nbsp;S-3 (including General Instruction I.B.6 thereof, if applicable) or (d)&nbsp;exceed
the number or dollar amount of shares of Common Stock for which the Company has filed a Prospectus Supplement (defined below) (the
lesser of (a), (b), (c)&nbsp;and (d), the &ldquo;<B><U>Maximum Amount</U></B>&rdquo;). Notwithstanding anything to the contrary
contained herein, the parties hereto agree that compliance with the limitations set forth in this <U>Section&nbsp;1</U> on the
amount of Placement Shares issued and sold under this Agreement shall be the sole responsibility of the Company and that the Agent
shall have no obligation in connection with such compliance. The offer and sale of Placement Shares through the Agent will be effected
pursuant to the Registration Statement (defined below) filed by the Company and declared effective by the Securities and Exchange
Commission (the &ldquo;<B><U>Commission</U></B>&rdquo;) on July&nbsp;12, 2019, although nothing in this Agreement shall be construed
as requiring the Company to use the Registration Statement to issue Common Stock.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has filed,
in accordance with the provisions of the Securities Act of 1933, as amended (the &ldquo;<B><U>Securities Act</U></B>&rdquo;) and
the rules&nbsp;and regulations thereunder (the &ldquo;<B><U>Securities Act Regulations</U></B>&rdquo;), with the Commission a registration
statement on Form&nbsp;S-3 (File No.&nbsp;333-232402), including a base prospectus, relating to certain securities, including the
Placement Shares to be issued from time to time by the Company, and which incorporates by reference documents that the Company
has filed or will file in accordance with the provisions of the Securities Exchange Act of 1934, as amended (the &ldquo;<B><U>Exchange
Act</U></B>&rdquo;), and the rules&nbsp;and regulations thereunder. The Company has prepared a prospectus or a prospectus supplement
to the base prospectus included as part of the registration statement, which prospectus or prospectus supplement relates to the
Placement Shares to be issued from time to time by the Company (the &ldquo;<B><U>Prospectus Supplement</U></B>&rdquo;). The Company
will furnish to the Agent, for use by the Agent, copies of the base prospectus included as part of such registration statement,
as supplemented, by the Prospectus Supplement, relating to the Placement Shares to be issued from time to time by the Company.
The Company may file one or more additional registration statements from time to time that will contain a base prospectus and related
prospectus or prospectus supplement, if applicable (which shall be a Prospectus Supplement), with respect to the Placement Shares.
Except where the context otherwise requires, such registration statement(s), including all documents filed as part thereof or incorporated
by reference therein, and including any information contained in a Prospectus (defined below) subsequently filed with the Commission
pursuant to Rule&nbsp;424(b)&nbsp;under the Securities Act Regulations or deemed to be a part of such registration statement pursuant
to Rule&nbsp;430B of the Securities Act Regulations, is herein called the &ldquo;<B><U>Registration Statement</U></B>.&rdquo; The
base prospectus or base prospectuses, including all documents incorporated therein by reference, included in the Registration Statement,
as it may be supplemented, if necessary, by the Prospectus Supplement, in the form in which such prospectus or prospectuses and/or
Prospectus Supplement have most recently been filed by the Company with the Commission pursuant to Rule&nbsp;424(b)&nbsp;under
the Securities Act Regulations, together with the then issued Issuer Free Writing Prospectus(es), is herein called the &ldquo;<B><U>Prospectus</U></B>.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any reference herein
to the Registration Statement, any Prospectus Supplement, Prospectus or any Issuer Free Writing Prospectus (defined below) shall
be deemed to refer to and include the documents, if any, incorporated by reference therein (the &ldquo;<B><U>Incorporated Documents</U></B>&rdquo;),
including, unless the context otherwise requires, the documents, if any, filed as exhibits to such Incorporated Documents. Any
reference herein to the terms &ldquo;amend,&rdquo; &ldquo;amendment&rdquo; or &ldquo;supplement&rdquo; with respect to the Registration
Statement, any Prospectus Supplement, the Prospectus or any Issuer Free Writing Prospectus shall be deemed to refer to and include
the filing of any document under the Exchange Act on or after the most-recent effective date of the Registration Statement, or
the date of the Prospectus Supplement, Prospectus or such Issuer Free Writing Prospectus, as the case may be, and incorporated
therein by reference. For purposes of this Agreement, all references to the Registration Statement, the Prospectus or to any amendment
or supplement thereto shall be deemed to include the most recent copy filed with the Commission pursuant to its Electronic Data
Gathering Analysis, and Retrieval system, or if applicable, the Interactive Data Electronic Application system when used by the
Commission (collectively, &ldquo;<B><U>EDGAR</U></B>&rdquo;).</P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">2.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Placements</U>.
Each time that the Company wishes to issue and sell Placement Shares hereunder (each, a &ldquo;<B><U>Placement</U></B>&rdquo;),
it will notify the Agent by email notice (or other method mutually agreed to by the parties in writing) of the number of Placement
Shares to be issued, the time period during which sales are requested to be made, any limitation on the number of Placement Shares
that may be sold in any one day and any minimum price below which sales may not be made (a &ldquo;<B><U>Placement Notice</U></B>&rdquo;),
the form of which is attached hereto as <U>Schedule 1</U>. The Placement Notice shall originate from any of the individuals from
the Company set forth on <U>Schedule 3</U> (with a copy to each of the other individuals from the Company listed on such schedule),
and shall be addressed to each of the individuals from the Agent set forth on <U>Schedule 3</U>, as such <U>Schedule 3</U> may
be amended from time to time. The Placement Notice shall be effective unless and until (i)&nbsp;the Agent declines to accept the
terms contained therein for any reason, in its sole discretion, which declination must occur within two (2)&nbsp;Business Days
(defined below) of the receipt of the Placement Notice, (ii)&nbsp;the entire amount of the Placement Shares thereunder have been
sold, (iii)&nbsp;the Company amends, supersedes, suspends or terminates the Placement Notice, in its sole discretion, or (iv)&nbsp;this
Agreement has been terminated under the provisions of <U>Section&nbsp;12</U>. The amount of any discount, commission or other compensation
to be paid by the Company to the Agent in connection with the sale of the Placement Shares shall be calculated in accordance with
the terms set forth in <U>Schedule 2</U>. It is expressly acknowledged and agreed that neither the Company nor the Agent will have
any obligation whatsoever with respect to a Placement or any Placement Shares unless and until the Company delivers a Placement
Notice to the Agent and the Agent does not decline such Placement Notice pursuant to the terms set forth above, and then only upon
the terms specified therein and herein. In the event of a conflict between the terms of this Agreement and the terms of a Placement
Notice, the terms of the Placement Notice will control.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">3.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale
of Placement Shares by the Agent</U>. Subject to the provisions of <U>Section&nbsp;5(a)</U>, the Agent, for the period specified
in the Placement Notice, will use its commercially reasonable efforts consistent with its normal trading and sales practices and
applicable state and federal laws, rules&nbsp;and regulations and the rules&nbsp;of the Nasdaq Capital Market (the &ldquo;<B><U>Exchange</U></B>&rdquo;),
to sell the Placement Shares up to the amount specified, and otherwise in accordance with the terms of such Placement Notice. The
Agent will provide written confirmation to the Company no later than the opening of the Trading Day (defined below) immediately
following the Trading Day on which it has made sales of Placement Shares hereunder setting forth the number of Placement Shares
sold on such day, the compensation payable by the Company to the Agent pursuant to <U>Section&nbsp;2</U> with respect to such sales,
and the Net Proceeds (defined below) payable to the Company, with an itemization of the deductions made by the Agent (as set forth
in <U>Section&nbsp;5(b)</U>) from the gross proceeds that it receives from such sales. Subject to the terms of the Placement Notice,
the Agent may sell Placement Shares by any method permitted by law deemed to be an &ldquo;at the market offering&rdquo; as defined
in Rule&nbsp;415(a)(4)&nbsp;of the Securities Act Regulations, including sales made directly on or through the Exchange or any
other existing trading market for the Common Stock, in negotiated transactions at market prices prevailing at the time of sale
or at prices related to such prevailing market prices and/or any other method permitted by law. &ldquo;<B><U>Trading Day</U></B>&rdquo;
means any day on which Common Stock is traded on the Exchange.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">4.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Suspension
of Sales</U>. The Company or the Agent may, upon notice to the other party in writing (including by email correspondence to each
of the individuals of the other party set forth on <U>Schedule 3</U>, if receipt of such correspondence is actually acknowledged
by any of the individuals to whom the notice is sent, other than via auto-reply) or by telephone (confirmed immediately by verifiable
facsimile transmission or email correspondence to each of the individuals of the other party set forth on <U>Schedule 3</U>), suspend
any sale of Placement Shares (a &ldquo;<B><U>Suspension</U></B>&rdquo;); <I>provided</I>, <I>however</I>, that such Suspension
shall not affect or impair any party&rsquo;s obligations with respect to any Placement Shares sold hereunder prior to the receipt
of such notice. While a Suspension is in effect any obligation under <U>Sections 7(l)</U>, <U>7(m)</U>, and <U>7(n)</U>&nbsp;with
respect to the delivery of certificates, opinions, or comfort letters to the Agent, shall be waived. Each of the parties agrees
that no such notice under this <U>Section&nbsp;4</U> shall be effective against any other party unless it is made to one of the
individuals named on <U>Schedule 3</U> hereto pursuant to the foregoing provision of this Section, as such Schedule may be amended
from time to time. Notwithstanding any other provision of this Agreement, during any period in which the Company is in possession
of material non-public information, the Company and the Agent agree that (i)&nbsp;no sale of Placement Shares will take place,
(ii)&nbsp;the Company shall not request the sale of any Placement Shares, and (iii)&nbsp;the Agent shall not be obligated to sell
or offer to sell any Placement Shares.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">5.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale
and Delivery to the Agent; Settlement</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sale
of Placement Shares</U><I>. </I> On the basis of the representations and warranties herein contained and subject to the terms and
conditions herein set forth, upon the effectiveness of a Placement Notice pursuant to <U>Section&nbsp;2</U> hereof, and unless
the sale of the Placement Shares described therein has been declined, suspended, or otherwise terminated in accordance with the
terms of this Agreement, the Agent, for the period specified in the Placement Notice, will use its commercially reasonable efforts
consistent with its normal trading and sales practices and applicable law and regulations to sell such Placement Shares up to the
amount specified, and otherwise in accordance with the terms of such Placement Notice. The Company acknowledges and agrees that
(i)&nbsp;there can be no assurance that the Agent will be successful in selling Placement Shares, (ii)&nbsp;the Agent will incur
no liability or obligation to the Company or any other person or entity if it does not sell Placement Shares for any reason other
than a failure by the Agent to use its commercially reasonable efforts consistent with its normal trading and sales practices and
applicable law and regulations to sell such Placement Shares as required under this Agreement and (iii)&nbsp;the Agent shall be
under no obligation to purchase Placement Shares on a principal basis pursuant to this Agreement, except as otherwise agreed by
the Agent and the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Settlement
of Placement Shares</U><I>. </I> Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement
Shares will occur on the second (2<SUP>nd</SUP>) Trading Day (or such earlier day as is industry practice for regular-way trading)
following the date on which such sales are made (each, a &ldquo;<B><U>Settlement Date</U></B>&rdquo;). The Agent shall notify
the Company of each sale of Placement Shares no later than the opening of the Trading Day immediately following the Trading Day
on which it has made sales of Placement Shares hereunder. The amount of proceeds to be delivered to the Company on a Settlement
Date against receipt of the Placement Shares sold (the &ldquo;<B><U>Net Proceeds</U></B>&rdquo;) will be equal to the aggregate
sales price received by the Agent, after deduction for (i)&nbsp;the Agent&rsquo;s commission, discount or other compensation for
such sales payable by the Company pursuant to <U>Section&nbsp;2</U> hereof, and (ii)&nbsp;any transaction fees imposed by any
Governmental Authority in respect of such sales.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of Placement Shares</U>. On or before each Settlement Date, the Company will, or will cause its transfer agent to, electronically
transfer the Placement Shares being sold by crediting the Agent&rsquo;s or its designee&rsquo;s account (provided the Agent shall
have given the Company written notice of such designee and such designee&rsquo;s account information at least one Trading Day prior
to the Settlement Date) at The Depository Trust Company through its Deposit and Withdrawal at Custodian System or by such other
means of delivery as may be mutually agreed upon by the parties hereto which in all cases shall be freely tradable, transferable,
registered shares in good deliverable form. On each Settlement Date, the Agent will deliver the related Net Proceeds in same day
funds to an account designated by the Company on, or prior to, the Settlement Date. The Company agrees that if the Company, or
its transfer agent (if applicable), defaults in its obligation to deliver Placement Shares on a Settlement Date through no fault
of the Agent, the Company agrees that in addition to and in no way limiting the rights and obligations set forth in <U>Section&nbsp;10(a)</U>&nbsp;hereto,
it will (i)&nbsp;hold the Agent harmless against any loss, claim, damage, or reasonable, documented expense (including reasonable
and documented legal fees and expenses), as incurred, arising out of or in connection with such default by the Company or its transfer
agent (if applicable) and (ii)&nbsp;pay to the Agent (without duplication) any commission, discount, or other compensation to which
it would otherwise have been entitled absent such default.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Denominations;
Registration</U><I>. </I>Certificates for the Placement Shares, if any, shall be in such denominations and registered in such names
as the Agent may request in writing at least one full Business Day (defined below) before the Settlement Date. The certificates
for the Placement Shares, if any, will be made available by the Company for examination and packaging by the Agent in The City
of New York not later than&nbsp;noon (New York time) on the Business Day prior to the Settlement Date.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Limitations
on Offering Size</U><I>. </I>Under no circumstances shall the Company cause, request or permit the offer or sale of any Placement
Shares if, after giving effect to the sale of such Placement Shares, the number or dollar amount of shares of Common Stock sold
pursuant to this Agreement would exceed the lesser of (A)&nbsp;together with all sales of Placement Shares under this Agreement,
the Maximum Amount and (B)&nbsp;the amount authorized from time to time to be issued and sold under this Agreement by the Company&rsquo;s
board of directors, a duly authorized committee thereof or a duly authorized executive committee, and notified to the Agent in
writing. Under no circumstances shall the Company cause or request the offer or sale of any Placement Shares pursuant to this Agreement
at a price lower than the minimum price authorized from time to time by the Company&rsquo;s board of directors, a duly authorized
committee thereof or a duly authorized executive committee.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">6.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Representations
and Warranties of the Company</U>. The Company represents and warrants to, and agrees with the Agent that as of the date of this
Agreement and as of each Applicable Time (defined below), unless such representation or warranty specified a different time:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registration
Statement and Prospectus</U>. The Company and the transactions contemplated by this Agreement meet the requirements for and comply
with the applicable conditions set forth in Form&nbsp;S-3 (including General Instructions I.A and I.B) under the Securities Act.
The Registration Statement has been filed with the Commission and has been declared effective by the Commission under the Securities
Act. The Prospectus Supplement will name the Agent as the agent in the section entitled &ldquo;Plan of Distribution.&rdquo; The
Company has not received, and has no notice of, any order of the Commission preventing or suspending the use of the Registration
Statement, or threatening or instituting proceedings for that purpose. The Registration Statement and the offer and sale of Placement
Shares as contemplated hereby meet the requirements of Rule&nbsp;415 under the Securities Act and comply in all material respects
with said Rule. Any statutes, regulations, contracts or other documents that are required to be described in the Registration Statement
or the Prospectus or to be filed as exhibits to the Registration Statement have been so described or filed. Copies of the Registration
Statement, the Prospectus, and any such amendments or supplements and all documents incorporated by reference therein that were
filed with the Commission on or prior to the date of this Agreement have been delivered, or are available through EDGAR, to the
Agent and its counsel. The Company has not distributed and, prior to the later to occur of each Settlement Date and completion
of the distribution of the Placement Shares, will not distribute any offering material in connection with the offering or sale
of the Placement Shares other than the Registration Statement and the Prospectus and any Issuer Free Writing Prospectus (as defined
below) to which the Agent has consented (any such consent not to be unreasonably withheld, conditioned or delayed). The Common
Stock is registered pursuant to Section&nbsp;12(b)&nbsp;of the Exchange Act and is currently listed on the Exchange under the trading
symbol &ldquo;CLIR.&rdquo; The Company has taken no action designed to, or likely to have the effect of, terminating the registration
of the Common Stock under the Exchange Act, delisting the Common Stock from the Exchange, nor has the Company received any notification
that the Commission or the Exchange is contemplating terminating such registration or listing other than as disclosed in the Registration
Statement or Prospectus (including the Incorporated Documents). Except as disclosed in the Registration Statement or Prospectus
(including the Incorporated Documents), to the Company&rsquo;s knowledge, it is in compliance with all applicable listing requirements
of the Exchange.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Misstatement or Omission</U>. The Registration Statement, when it became or becomes effective, and the Prospectus, and any amendment
or supplement thereto, on the date of such Prospectus or amendment or supplement, conformed and will conform in all material respects
with the requirements of the Securities Act. At each Settlement Date, the Registration Statement and the Prospectus, as of such
date, will conform in all material respects with the requirements of the Securities Act. The Registration Statement, when it became
or becomes effective, did not, and will not, contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein not misleading. The Prospectus and any amendment and supplement
thereto, on the date thereof and at each Applicable Time (defined below), did not or will not include an untrue statement of a
material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which
they were made, not misleading. The documents incorporated by reference in the Prospectus or any Prospectus Supplement did not,
and any further documents filed and incorporated by reference therein will not, when filed with the Commission, contain an untrue
statement of a material fact or omit to state a material fact required to be stated in such document or necessary to make the statements
in such document, in light of the circumstances under which they were made, not misleading. The foregoing shall not apply to statements
in, or omissions from, any such document made in reliance upon, and in conformity with, information furnished to the Company by
the Agent specifically for use in the preparation thereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Conformity
with Securities Act and Exchange Act</U>. The Registration Statement, the Prospectus, any Issuer Free Writing Prospectus or any
amendment or supplement thereto, and the other Incorporated Documents, when such documents were or are filed with the Commission
under the Securities Act or the Exchange Act or became or become effective under the Securities Act, as the case may be, conformed
or will conform in all material respects with the requirements of the Securities Act and the Exchange Act, as applicable.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Financial
Information</U>. The consolidated financial statements of the Company included or incorporated by reference in the Registration
Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, together with the related notes and schedules, present
fairly, in all material respects, the consolidated financial position of the Company and the Subsidiaries (defined below) as of
the dates indicated and the consolidated results of operations, cash flows and changes in stockholders&rsquo; equity of the Company
for the periods specified and have been prepared in compliance with the requirements of the Securities Act and Exchange Act and
in conformity with GAAP (defined below) applied on a consistent basis during the periods involved (except for such adjustments
to accounting standards and practices as are noted therein and except in the case of unaudited financial statements to the extent
they may exclude footnotes or may be condensed or summary statements); the other financial and statistical data with respect to
the Company and the Subsidiaries (defined below) contained or incorporated by reference in the Registration Statement, the Prospectus
and the Issuer Free Writing Prospectuses, if any, are accurately and fairly presented in all material respects and prepared on
a basis consistent in all material respects with the financial statements and books and records of the Company; there are no financial
statements (historical or pro forma) that are required to be included or incorporated by reference in the Registration Statement,
or the Prospectus that are not included or incorporated by reference as required; the Company and the Subsidiaries (defined below)
do not have any material liabilities or obligations, direct or contingent (including any off-balance sheet obligations), not described
in the Registration Statement (excluding the exhibits thereto) and the Prospectus; and all disclosures contained or incorporated
by reference in the Registration Statement, the Prospectus and the Issuer Free Writing Prospectuses, if any, regarding &ldquo;non-GAAP
financial measures&rdquo; (as such term is defined by the rules&nbsp;and regulations of the Commission) comply in all material
respects with Regulation G of the Exchange Act and Item 10 of Regulation S-K under the Securities Act, to the extent applicable.
The interactive data in eXtensible Business Reporting Language included or incorporated by reference in the Registration Statement
and the Prospectus fairly presents the information called for in all material respects and has been prepared in accordance with
the Commission&rsquo;s rules&nbsp;and guidelines applicable thereto.</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Conformity
with EDGAR Filing</U>. The Prospectus delivered to the Agent for use in connection with the sale of the Placement Shares pursuant
to this Agreement will be identical to the versions of the Prospectus created to be transmitted to the Commission for filing via
EDGAR, except to the extent permitted by Regulation S-T.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Organization</U>.
The Company and each of its Subsidiaries are duly organized, validly existing as a corporation and in good standing under the laws
of their respective jurisdictions of organization. The Company and each of its Subsidiaries are duly licensed or qualified as a
foreign corporation for transaction of business and in good standing under the laws of each other jurisdiction in which their respective
ownership or lease of property or the conduct of their respective businesses requires such license or qualification, and have all
corporate power and authority necessary to own or hold their respective properties and to conduct their respective businesses as
described in the Registration Statement and the Prospectus, except where the failure to be so qualified or in good standing or
have such power or authority would not, individually or in the aggregate, have a material adverse effect or would reasonably be
expected to have a material adverse effect on or affecting the assets, business, operations, earnings, properties, condition (financial
or otherwise), prospects, stockholders&rsquo; equity or results of operations of the Company and the Subsidiaries taken as a whole,
or prevent or materially interfere with consummation of the transactions contemplated hereby (a &ldquo;<B><U>Material Adverse Effect</U></B>&rdquo;).</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(g)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Subsidiaries</U>.
The subsidiaries set forth on <U>Schedule 4</U> (but not including ClearSign Asia Limited, a Hong Kong corporation) are the Company&rsquo;s
only significant subsidiaries (as such term is defined in Rule&nbsp;1-02 of Regulation S-X promulgated by the Commission) (collectively,
the &ldquo;<B><U>Subsidiaries</U></B>&rdquo;). Except as set forth in the Registration Statement and in the Prospectus, the Company
owns, directly or indirectly, all of the equity interests of the Subsidiaries free and clear of any lien, charge, security interest,
encumbrance, right of first refusal or other restriction, and all the equity interests of the Subsidiaries are validly issued and
are fully paid, nonassessable and free of preemptive and similar rights. No Subsidiary is currently prohibited, directly or indirectly,
from paying any dividends to the Company, from making any other distribution on such Subsidiary&rsquo;s capital stock, from repaying
to the Company any loans or advances to such Subsidiary from the Company or from transferring any of such Subsidiary&rsquo;s property
or assets to the Company or any other Subsidiary of the Company. If the Company has no Subsidiaries, all other references to the
Subsidiaries in this Agreement shall be disregarded.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(h)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Violation or Default</U>. Neither the Company nor any of its Subsidiaries is (i)&nbsp;in violation of its charter or by-laws or
similar organizational documents; (ii)&nbsp;in default, and no event has occurred that, with notice or lapse of time or both, would
constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its Subsidiaries is a party
or by which the Company or any of its Subsidiaries is bound or to which any of the property or assets of the Company or any of
its Subsidiaries are subject; or (iii)&nbsp;in violation of any law or statute or any judgment, order, rule&nbsp;or regulation
of any Governmental Authority, except, in the case of each of clauses (ii)&nbsp;and (iii)&nbsp;above, for any such violation or
default that would not, individually or in the aggregate, reasonably be expected have a Material Adverse Effect. To the Company&rsquo;s
knowledge, no other party under any material contract or other agreement to which it or any of its Subsidiaries is a party is in
default in any respect thereunder where such default would have a Material Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Material Adverse Change</U>. Subsequent to the respective dates as of which information is given in the Registration Statement,
the Prospectus and the Free Writing Prospectuses, if any (including any document deemed incorporated by reference therein), there
has not been (i)&nbsp;any Material Adverse Effect or the occurrence of any development that the Company reasonably expects will
result in a Material Adverse Effect, (ii)&nbsp;any transaction which is material to the Company and the Subsidiaries taken as a
whole, (iii)&nbsp;any obligation or liability, direct or contingent (including any off-balance sheet obligations), incurred by
the Company or any Subsidiary, which is material to the Company and the Subsidiaries taken as a whole, (iv)&nbsp;any material change
in the capital stock or outstanding long-term indebtedness of the Company or any of its Subsidiaries or (v)&nbsp;any dividend or
distribution of any kind declared, paid or made on the capital stock of the Company or any Subsidiary, other than in each case
above in the ordinary course of business or as otherwise disclosed in the Registration Statement or Prospectus (including any document
deemed incorporated by reference therein).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(j)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Capitalization</U>.
The issued and outstanding shares of capital stock of the Company have been validly issued, are fully paid and nonassessable and,
other than as disclosed in the Registration Statement or the Prospectus, are not subject to any preemptive rights, rights of first
refusal or similar rights pursuant to the Company&rsquo;s organizational documents or any agreement or other instrument to which
the Company is a party or by which the Company is bound. The Company has an authorized, issued and outstanding capitalization as
set forth in the Registration Statement and the Prospectus as of the dates referred to therein (other than the grant of additional
options or other equity awards under the Company&rsquo;s existing equity incentive plans, or changes in the number of outstanding
shares of Common Stock of the Company due to the issuance of shares upon the exercise or conversion of securities exercisable for,
or convertible into, Common Stock outstanding on the date hereof) and such authorized capital stock conforms to the description
thereof set forth in the Registration Statement and the Prospectus. The description of the securities of the Company in the Registration
Statement and the Prospectus is complete and accurate in all material respects. Except as disclosed in or contemplated by the Registration
Statement or the Prospectus, as of the date referred to therein, the Company does not have outstanding any options to purchase,
or any rights or warrants to subscribe for, or any securities or obligations convertible into, or exchangeable for, or any contracts
or commitments to issue or sell, any shares of capital stock or other securities.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(k)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Authorization;
Enforceability</U>. The Company has full legal right, power and authority to enter into this Agreement and perform the transactions
contemplated hereby. This Agreement has been duly authorized, executed and delivered by the Company and is a legal, valid and binding
agreement of the Company enforceable against the Company in accordance with its terms, except to the extent that (i)&nbsp;enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors&rsquo; rights generally
and by general equitable principles and (ii)&nbsp;the indemnification and contribution provisions of <U>Section&nbsp;10</U> hereof
may be limited by federal or state securities laws and public policy considerations in respect thereof.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(l)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Authorization
of Placement Shares</U>. The Placement Shares, when issued and delivered pursuant to the terms approved by the board of directors
of the Company or a duly authorized committee thereof, or a duly authorized executive committee, against payment therefor as provided
herein, will be duly and validly authorized and issued and fully paid and nonassessable, free and clear of any pledge, lien, encumbrance,
security interest or other claim (other than any pledge, lien, encumbrance, security interest or other claim arising from an act
or omission of the Agent or a purchaser), including any statutory or contractual preemptive rights, resale rights, rights of first
refusal or other similar rights that have not been properly waived or complied with, and will be registered pursuant to Section&nbsp;12
of the Exchange Act. The Placement Shares, when issued, will conform to the description thereof set forth in or incorporated into
the Prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(m)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Consents Required</U>. No consent, approval, authorization, order, registration or qualification of or with any Governmental Authority
is required for the execution, delivery and performance by the Company of this Agreement, the issuance and sale by the Company
of the Placement Shares, except for such consents, approvals, authorizations, orders and registrations or qualifications as may
be required under applicable state securities laws or by the by-laws and rules&nbsp;of the Financial Industry Regulatory Authority
(&ldquo;<B><U>FINRA</U></B>&rdquo;) or the Exchange, including any notices that may be required by the Exchange, in connection
with the sale of the Placement Shares by the Agent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(n)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Preferential Rights</U>. Except as set forth in the Registration Statement and the Prospectus, (i)&nbsp;no person, as such term
is defined in Rule&nbsp;1-02 of Regulation S-X promulgated under the Securities Act (each, a &ldquo;<B><U>Person</U></B>&rdquo;),
has the right, contractual or otherwise, to cause the Company to issue or sell to such Person any Common Stock or shares of any
other capital stock or other securities of the Company (other than upon the exercise of options or warrants to purchase Common
Stock or upon the exercise or vesting of options or equity awards that may be granted from time to time under the Company&rsquo;s
equity incentive plans), (ii)&nbsp;no Person has any preemptive rights, resale rights, rights of first refusal, rights of co-sale,
or any other rights (whether pursuant to a &ldquo;poison pill&rdquo; provision or otherwise) to purchase from the Company any Common
Stock or shares of any other capital stock or other securities of the Company, (iii)&nbsp; no Person has the right to act as an
underwriter or as a financial advisor to the Company in connection with the offer and sale of the Common Stock, and (iv)&nbsp;no
Person has the right, contractual or otherwise, to require the Company to register under the Securities Act any Common Stock or
shares of any other capital stock or other securities of the Company, or to include any such shares or other securities in the
Registration Statement or the offering contemplated thereby, whether as a result of the filing or effectiveness of the Registration
Statement or the sale of the Placement Shares as contemplated thereby or otherwise which have not previously been satisfied or
waived with respect to the offering of the Placement Shares hereby.</FONT></P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(o)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Independent
Public Accounting Firm</U>. Gumbiner Savett Inc. (the &ldquo;<B><U>Accountant</U></B>&rdquo;), whose report on the consolidated
financial statements of the Company is filed with the Commission as part of the Company&rsquo;s most recent Annual Report on Form&nbsp;10-K
filed with the Commission and incorporated by reference into the Registration Statement and the Prospectus, is and, during the
periods covered by their report, was an independent registered public accounting firm within the meaning of the Securities Act
and the Public Company Accounting Oversight Board (United States). To the Company&rsquo;s knowledge, the Accountant is not in violation
of the auditor independence requirements of the Sarbanes-Oxley Act of 2002 (the &ldquo;<B><U>Sarbanes-Oxley Act</U></B>&rdquo;)
with respect to the Company during the period of its engagement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(p)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Enforceability
of Agreements</U>. All agreements between the Company and third parties expressly referenced in the Prospectus, other than such
agreements that have expired by their terms or whose termination is disclosed in documents filed by the Company on EDGAR, are legal,
valid and binding obligations of the Company enforceable against the Company in accordance with their respective terms, except
to the extent that (i)&nbsp;enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
affecting creditors&rsquo; rights generally and by general equitable principles and (ii)&nbsp;the indemnification provisions of
certain agreements may be limited by federal or state securities laws or public policy considerations in respect thereof, and except
for any unenforceability that, individually or in the aggregate, would not have a Material Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(q)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Litigation</U>. Except as set forth in the Registration Statement or the Prospectus, there are no actions, suits or proceedings
by or before any Governmental Authority pending, nor, to the Company&rsquo;s knowledge, any audits or investigations by or before
any Governmental Authority, to which the Company or a Subsidiary is a party or to which any property of the Company or any of its
Subsidiaries is the subject that, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect
and, to the Company&rsquo;s knowledge, no such actions, suits, proceedings, audits or investigations are threatened or contemplated
by any Governmental Authority or threatened by others; and (i)&nbsp;there are no current or pending audits, investigations, actions,
suits or proceedings by or before any Governmental Authority that are required under the Securities Act to be described in the
Prospectus that are not so described; and (ii)&nbsp;there are no contracts or other documents that are required under the Securities
Act to be filed as exhibits to the Registration Statement that are not so filed.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(r)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Consents
and Permits</U>. The Company and each Subsidiary possess such valid and current certificates, authorizations or permits issued
by the appropriate state, federal or foreign regulatory agencies or bodies necessary to conduct their respective businesses, and
neither the Company nor any Subsidiary has received, or has any reason to believe that it will receive, any notice of proceedings
relating to the revocation or modification of, or non-compliance with, any such certificate, authorization or permit which, singly
or in the aggregate, if the subject of an unfavorable decision, ruling or finding, could result in a Material Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(s)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Intellectual
Property</U>. Except as disclosed in the Registration Statement and the Prospectus, the Company and its Subsidiaries own, possess,
license or have other rights to use all foreign and domestic patents, patent applications, trade and service marks, trade and service
mark registrations, trade names, copyrights, licenses, inventions, trade secrets, technology,&nbsp;Internet domain names, know-how
and other intellectual property (collectively, the &ldquo;<B><U>Intellectual Property</U></B>&rdquo;), necessary for the conduct
of their respective businesses as now conducted except to the extent that the failure to own, possess, license or otherwise hold
adequate rights to use such Intellectual Property would not, individually or in the aggregate, have a Material Adverse Effect.
Except as disclosed in the Registration Statement and the Prospectus (i)&nbsp;there are no rights of third parties to any such
Intellectual Property owned by the Company and its Subsidiaries; (ii)&nbsp;to the Company&rsquo;s knowledge, there is no infringement
by third parties of any such Intellectual Property; (iii)&nbsp;there is no pending or, to the Company&rsquo;s knowledge, threatened
action, suit, proceeding or claim by others challenging the Company&rsquo;s and its Subsidiaries&rsquo; rights in or to any such
Intellectual Property, and the Company is unaware of any facts which could form a reasonable basis for any such action, suit, proceeding
or claim; (iv)&nbsp;there is no pending or, to the Company&rsquo;s knowledge, threatened action, suit, proceeding or claim by others
challenging the validity or scope of any such Intellectual Property; (v)&nbsp;there is no pending or, to the Company&rsquo;s knowledge,
threatened action, suit, proceeding or claim by others that the Company and its Subsidiaries infringe or otherwise violate any
patent, trademark, copyright, trade secret or other proprietary rights of others; (vi)&nbsp;to the Company&rsquo;s knowledge, there
is no third-party U.S. patent or published U.S. patent application which contains claims for which an Interference Proceeding (as
defined in 35 U.S.C. &sect; 135) has been commenced against any patent or patent application described in the Prospectus as being
owned by or licensed to the Company; and (vii)&nbsp;the Company and its Subsidiaries have complied with the terms of each agreement
pursuant to which Intellectual Property has been licensed to the Company or such Subsidiary, and all such agreements are in full
force and effect, except, in the case of any of clauses (i)-(vii)&nbsp;above, for any such infringement by third parties or any
such pending or threatened suit, action, proceeding or claim as would not, individually or in the aggregate, result in a Material
Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(t)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Market
Capitalization</U>. At the time the Registration Statement was originally declared effective, and at the time the Company&rsquo;s
most recent Annual Report on Form&nbsp;10-K was filed with the Commission, the Company met the then applicable requirements for
the use of Form&nbsp;S-3 under the Securities Act, including, but not limited to, General Instruction I.B.1 of Form&nbsp;S-3. The
Company is not a shell company (as defined in Rule&nbsp;405 under the Securities Act) and has not been a shell company for at least
12 calendar months previously and if it has been a shell company at any time previously, has filed current Form&nbsp;10 information
(as defined in Instruction I.B.6 of Form&nbsp;S-3) with the Commission at least 12 calendar months previously reflecting its status
as an entity that is not a shell company.</FONT></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(v)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Certain
Market Activities</U>. Neither the Company, nor any of the Subsidiaries, nor, to the Company&rsquo;s knowledge, any of their respective
directors, officers or controlling persons has taken, directly or indirectly, any action designed, or that has constituted or would
cause or result in, under the Exchange Act or otherwise, the stabilization or manipulation of the price of any security of the
Company to facilitate the sale or resale of the Placement Shares.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(w)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Broker/Dealer
Relationships</U>. Neither the Company nor any of the Subsidiaries (i)&nbsp;is required to register as a &ldquo;broker&rdquo;
or &ldquo;dealer&rdquo; in accordance with the provisions of the Exchange Act or (ii)&nbsp;directly or indirectly through one
or more intermediaries, controls or is a &ldquo;person associated with a member&rdquo; or &ldquo;associated person of a member&rdquo;
(within the meaning set forth in the FINRA Manual).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(x)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Reliance</U>. The Company has not relied upon the Agent or legal counsel for the Agent for any legal, tax or accounting advice
in connection with the offering and sale of the Placement Shares.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(y)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Taxes</U>.
The Company and each of its Subsidiaries have filed all federal, state, local and foreign tax returns which have been required
to be filed, or have properly requested extensions thereof, and paid all taxes shown thereon through the date hereof, to the extent
that such taxes have become due and are not being contested in good faith, except where the failure to so file or pay would not
have a Material Adverse Effect. Except as otherwise disclosed in or contemplated by the Registration Statement or the Prospectus,
no tax deficiency has been determined adversely to the Company or any of its Subsidiaries which has had, or would have, individually
or in the aggregate, a Material Adverse Effect. The Company has no knowledge of any federal, state or other governmental tax deficiency,
penalty or assessment which has been or might be asserted or threatened against it which would have a Material Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(z)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Title
to Real and Personal Property</U>. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries
have good and marketable title in fee simple to all items of real property owned by them, good and valid title to all personal
property described in the Registration Statement or Prospectus as being owned by them, in each case free and clear of all liens,
encumbrances and claims, except those matters that (i)&nbsp;do not materially interfere with the use made and proposed to be made
of such property by the Company and any of its Subsidiaries or (ii)&nbsp;would not, individually or in the aggregate, have a Material
Adverse Effect. Any real or personal property described in the Registration Statement or Prospectus as being leased by the Company
and any of its Subsidiaries is held by them under valid, existing and enforceable leases, except those that (A)&nbsp;do not materially
interfere with the use made or proposed to be made of such property by the Company or any of its Subsidiaries or (B)&nbsp;would
not, individually or in the aggregate, have a Material Adverse Effect. Each of the properties owned by the Company and its Subsidiaries
complies with all applicable codes, laws and regulations (including, without limitation, building and zoning codes, laws and regulations
and laws relating to access to such properties), except if and to the extent disclosed in the Registration Statement or Prospectus
or except for such failures to comply that would not, individually or in the aggregate, interfere in any material respect with
the use made and proposed to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse
Effect. None of the Company or its subsidiaries has received from any Governmental Authorities any notice of any condemnation of,
or zoning change affecting, the properties of the Company and its Subsidiaries, and the Company knows of no such condemnation or
zoning change which is threatened, except for such that would not interfere in any material respect with the use made and proposed
to be made of such property by the Company and its Subsidiaries or otherwise have a Material Adverse Effect, individually or in
the aggregate.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(aa)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Environmental
Laws</U>. Except as set forth in the Registration Statement or the Prospectus, the Company and its Subsidiaries (i)&nbsp;are in
compliance with any and all applicable federal, state, local and foreign laws, rules, regulations, decisions and orders relating
to the protection of human health and safety, the environment or hazardous or toxic substances or wastes, pollutants or contaminants
(collectively, &ldquo;<B><U>Environmental Laws</U></B>&rdquo;); (ii)&nbsp;have received and are in compliance with all permits,
licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses as described
in the Registration Statement and the Prospectus; and (iii)&nbsp;have not received notice of any actual or potential liability
for the investigation or remediation of any disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants,
except, in the case of any of clauses (i), (ii)&nbsp;or (iii)&nbsp;above, for any such failure to comply or failure to receive
required permits, licenses, other approvals or liability as would not, individually or in the aggregate, have a Material Adverse
Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(bb)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Disclosure
Controls</U>. The Company and each of its Subsidiaries maintain systems of internal accounting controls sufficient to provide reasonable
assurance that (i)&nbsp;transactions are executed in accordance with management&rsquo;s general or specific authorizations; (ii)&nbsp;transactions
are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles
and to maintain asset accountability; (iii)&nbsp;access to assets is permitted only in accordance with management&rsquo;s general
or specific authorization; and (iv)&nbsp;the recorded accountability for assets is compared with the existing assets at reasonable
intervals and appropriate action is taken with respect to any differences. The Company&rsquo;s internal control over financial
reporting is effective and the Company is not aware of any material weaknesses in its internal control over financial reporting
(other than as set forth in the Prospectus). Since the date of the latest audited financial statements of the Company included
in the Prospectus, there has been no change in the Company&rsquo;s internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, the Company&rsquo;s internal control over financial reporting (other than
as set forth in the Prospectus). The Company has established disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15
and 15d-15) for the Company and designed such disclosure controls and procedures to provide reasonable assurance that material
information relating to the Company and each of its Subsidiaries is made known to the certifying officers by others within those
entities, particularly during the period in which the Company&rsquo;s Annual Report on Form&nbsp;10-K or Quarterly Report on Form&nbsp;10-Q,
as the case may be, is being prepared. The Company&rsquo;s certifying officers have evaluated the effectiveness of the Company&rsquo;s
disclosure controls and procedures as of a date within 90 days prior to the filing date of the Form&nbsp;10-K for the fiscal year
most recently ended (such date, the <B>&ldquo;<U>Evaluation Date</U></B>&rdquo;). The Company presented in its Form&nbsp;10-K for
the fiscal year most recently ended the conclusions of the certifying officers about the effectiveness of the disclosure controls
and procedures based on their evaluations as of the Evaluation Date and the disclosure controls and procedures are effective. Since
the Evaluation Date, there have been no significant changes in the Company&rsquo;s internal controls (as such term is defined in
Item 307(b)&nbsp;of Regulation S-K under the Securities Act) or, to the Company&rsquo;s knowledge, in other factors that could
significantly affect the Company&rsquo;s internal controls.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(cc)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sarbanes-Oxley</U>.
There is and has been no failure on the part of the Company or, to the Company&rsquo;s knowledge, any of the Company&rsquo;s directors
or officers, in their capacities as such, to comply in all material respects with any applicable provisions of the Sarbanes-Oxley
Act and the rules&nbsp;and regulations promulgated thereunder. Each of the principal executive officer and the principal financial
officer of the Company (or each former principal executive officer of the Company and each former principal financial officer of
the Company as applicable) has made all certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act with respect
to all reports, schedules, forms, statements and other documents required to be filed by it or furnished by it to the Commission.
For purposes of the preceding sentence, &ldquo;principal executive officer&rdquo; and &ldquo;principal financial officer&rdquo;
shall have the meanings given to such terms in the Sarbanes-Oxley Act.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(dd)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Finder&rsquo;s
Fees</U>. Neither the Company nor any of the Subsidiaries has incurred any liability for any finder&rsquo;s fees, brokerage commissions
or similar payments in connection with the transactions herein contemplated, except as may otherwise exist with respect to the
Agent pursuant to this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ee)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Labor
Disputes</U>. No labor disturbance by or dispute with employees of the Company or any of its Subsidiaries exists or, to the knowledge
of the Company, is threatened which would result in a Material Adverse Effect.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ff)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Investment
Company Act</U>. Neither the Company nor any of the Subsidiaries is or, after giving effect to the offering and sale of the Placement
Shares, will be an &ldquo;investment company&rdquo; or an entity &ldquo;controlled&rdquo; by an &ldquo;investment company,&rdquo;
as such terms are defined in the Investment Company Act of 1940, as amended (the &ldquo;<B><U>Investment Company Act</U></B>&rdquo;).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(gg)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Operations</U>.
The operations of the Company and its Subsidiaries are and have been conducted at all times in compliance with applicable financial
record keeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money
laundering statutes of all jurisdictions to which the Company or its Subsidiaries are subject, the rules&nbsp;and regulations thereunder
and any related or similar rules, regulations or guidelines, issued, administered or enforced by any Governmental Authority (collectively,
the &ldquo;<B><U>Money Laundering Laws</U></B>&rdquo;); and no action, suit or proceeding by or before any Governmental Authority
involving the Company or any of its Subsidiaries with respect to the Money Laundering Laws is pending or, to the knowledge of the
Company, threatened.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(hh)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Off-Balance
Sheet Arrangements</U>. There are no transactions, arrangements and other relationships between and/or among the Company, or to
the knowledge of the Company, and/or any of its affiliates and any unconsolidated entity, including, but not limited to, any structured
finance, special purpose or limited purpose entity (each, an &ldquo;<B><U>Off-Balance Sheet Transaction</U></B>&rdquo;) that would
affect materially the Company&rsquo;s liquidity or the availability of or requirements for its capital resources, including those
Off-Balance Sheet Transactions described in the Commission&rsquo;s Statement about Management&rsquo;s Discussion and Analysis of
Financial Conditions and Results of Operations (Release Nos. 33-8056; 34-45321; FR-61), required to be described in the Prospectus
which have not been described as required.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Underwriter
Agreements</U>. The Company is not a party to any agreement with an agent or underwriter for any other &ldquo;at the market&rdquo;
or continuous equity transaction.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(jj)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>ERISA</U>.
To the knowledge of the Company, each material employee benefit plan, within the meaning of Section&nbsp;3(3)&nbsp;of the Employee
Retirement Income Security Act of 1974, as amended (&ldquo;<B><U>ERISA</U></B>&rdquo;), that is maintained, administered or contributed
to by the Company or any of its affiliates for employees or former employees of the Company and any of its Subsidiaries has been
maintained in material compliance with its terms and the requirements of any applicable statutes, orders, rules&nbsp;and regulations,
including but not limited to ERISA and the Internal Revenue Code of 1986, as amended (the &ldquo;<B><U>Code</U></B>&rdquo;); no
prohibited transaction, within the meaning of Section&nbsp;406 of ERISA or Section&nbsp;4975 of the Code, has occurred which would
result in a material liability to the Company with respect to any such plan excluding transactions effected pursuant to a statutory
or administrative exemption; and for each such plan that is subject to the funding rules&nbsp;of Section&nbsp;412 of the Code or
Section&nbsp;302 of ERISA, no &ldquo;accumulated funding deficiency&rdquo; as defined in Section&nbsp;412 of the Code has been
incurred, whether or not waived, and the fair market value of the assets of each such plan (excluding for these purposes accrued
but unpaid contributions) exceeds the present value of all benefits accrued under such plan determined using reasonable actuarial
assumptions.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(kk)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Forward-Looking
Statements</U>. No forward-looking statement (within the meaning of Section&nbsp;27A of the Securities Act and Section&nbsp;21E
of the Exchange Act) (a &ldquo;<B><U>Forward-Looking Statement</U></B>&rdquo;) contained in the Registration Statement and the
Prospectus has been made or reaffirmed without a reasonable basis or has been disclosed other than in good faith.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ll)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Agent
Purchases</U>. The Company acknowledges and agrees that the Agent has informed the Company that the Agent may, to the extent permitted
under the Securities Act and the Exchange Act, purchase and sell Common Stock for its own account while this Agreement is in effect,
<I>provided</I>, that the Company shall not be deemed to have authorized or consented to any such purchases or sales by the Agent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(mm)</FONT>&#9;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Margin
Rules</U>. Neither the issuance, sale and delivery of the Placement Shares nor the application of the proceeds thereof by the Company
as described in the Registration Statement and the Prospectus will violate Regulation T, U or X of the Board of Governors of the
Federal Reserve System or any other regulation of such Board of Governors.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(nn)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Insurance</U>.
The Company and each of its Subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as the Company
and each of its Subsidiaries reasonably believe are adequate for the conduct of their properties and as is customary for companies
of similar size and engaged in similar businesses in similar industries.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(oo)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Improper Practices</U>. (i)&nbsp;Neither the Company nor the Subsidiaries, nor any director or officer of the Company or any Subsidiary
nor, to the Company&rsquo;s knowledge, any agent, affiliate, employee or other person acting on behalf of the Company or any Subsidiary
has, in the past five years, made any unlawful contributions to any candidate for any political office (or failed fully to disclose
any contribution in violation of applicable law) or made any contribution or other payment to any official of, or candidate for,
any federal, state, municipal, or foreign office or other person charged with similar public or quasi-public duty in violation
of any applicable law or of the character required to be disclosed in the Prospectus;; (ii)&nbsp;no relationship, direct or indirect,
exists between or among the Company or any Subsidiary or any affiliate of any of them, on the one hand, and the directors, officers
and stockholders of the Company or any Subsidiary, on the other hand, that is required by the Securities Act to be described in
the Registration Statement and the Prospectus that is not so described; (iii)&nbsp;no relationship, direct or indirect, exists
between or among the Company or any Subsidiary or any affiliate of them, on the one hand, and the directors, officers, or stockholders
of the Company or any Subsidiary, on the other hand, that is required by the rules&nbsp;of FINRA to be described in the Registration
Statement and the Prospectus that is not so described; (iv)&nbsp;except as described in the Registration Statement and the Prospectus,
there are no material outstanding loans or advances or material guarantees of indebtedness by the Company or any Subsidiary to
or for the benefit of any of their respective officers or directors or any of the members of the families of any of them; (v)&nbsp;the
Company has not offered, or caused any placement agent to offer, Common Stock to any person with the intent to influence unlawfully
(A)&nbsp;a customer or supplier of the Company or any Subsidiary to alter the customer&rsquo;s or supplier&rsquo;s level or type
of business with the Company or any Subsidiary or (B)&nbsp;a trade journalist or publication to write or publish favorable information
about the Company or any Subsidiary or any of their respective products or services, and (vi)&nbsp;neither the Company nor any
Subsidiary nor any director or officer of the Company or any Subsidiary nor, to the Company&rsquo;s knowledge, any employee, agent,
affiliate, or other person acting on behalf of the Company or any Subsidiary has (A)&nbsp;violated or is in violation of any applicable
provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any other applicable anti-bribery or anti-corruption
law (collectively, &ldquo;<B><U>Anti-Corruption Laws</U></B>&rdquo;), (B)&nbsp;promised, offered, provided, attempted to provide,
or authorized the provision of anything of value, directly or indirectly, to any person for the purpose of obtaining or retaining
business, influencing any act or decision of the recipient, or securing any improper advantage; or (C)&nbsp;made any payment of
funds of the Company or any Subsidiary or received or retained any funds in violation of any Anti-Corruption Laws.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(pp)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Status
under the Securities Act</U>. The Company was not and is not an ineligible issuer as defined in Rule&nbsp;405 under the Securities
Act at the times specified in Rules&nbsp;164 and 433 under the Securities Act in connection with the offering of the Placement
Shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(qq)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Misstatement or Omission in an Issuer Free Writing Prospectus</U>. Each Issuer Free Writing Prospectus, as of its issue date and
as of each Applicable Time (as defined in <U>Section&nbsp;23</U> below), did not, does not and will not include any information
that conflicted, conflicts or will conflict with the information contained in the Registration Statement or the Prospectus, including
any incorporated document deemed to be a part thereof that has not been superseded or modified. The foregoing sentence does not
apply to statements in or omissions from any Issuer Free Writing Prospectus based upon and in conformity with written information
furnished to the Company by the Agent specifically for use therein.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(rr)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Conflicts</U>. Neither the execution of this Agreement, nor the issuance, offering or sale of the Placement Shares by the Company,
nor the consummation of any of the transactions contemplated herein and therein, nor the compliance by the Company with the terms
and provisions hereof and thereof will conflict with, or will result in a breach of, any of the terms and provisions of, or has
constituted or will constitute a default under, or has resulted in or will result in the creation or imposition of any lien, charge
or encumbrance upon any property or assets of the Company pursuant to the terms of any contract or other agreement to which the
Company may be bound or to which any of the property or assets of the Company is subject, except (i)&nbsp;such conflicts, breaches
or defaults as may have been waived and (ii)&nbsp;such conflicts, breaches and defaults that would not have a Material Adverse
Effect; nor will such action result (x)&nbsp;in any violation of the provisions of the organizational or governing documents of
the Company, or (y)&nbsp;in any material violation of the provisions of any statute or any order, rule&nbsp;or regulation applicable
to the Company or of any Governmental Authority having jurisdiction over the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ss)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sanctions</U>.
(i)&nbsp;Neither the Company nor any of its Subsidiaries (collectively, the &ldquo;<B><U>Entity</U></B>&rdquo;), nor, to the Entity&rsquo;s
knowledge, any director, officer, employee, agent, affiliate or representative of the Entity, is a government, individual, or entity
(in this paragraph (ss), &ldquo;<B><U>Person</U></B>&rdquo;) that is, or is owned or controlled by a Person that is:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;the
subject of any sanctions administered or enforced by the U.S. Department of Treasury&rsquo;s Office of Foreign Assets Control (&ldquo;<B><U>OFAC</U></B>&rdquo;),
the United Nations Security Council, the European Union, Her Majesty&rsquo;s Treasury, or other relevant sanctions authorities,
including, without limitation, designation on OFAC&rsquo;s Specially Designated Nationals and Blocked Persons List or OFAC&rsquo;s
Foreign Sanctions Evaders List (as amended, collectively, &ldquo;<B><U>Sanctions</U></B>&rdquo;), nor</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;located,
organized or resident in a country or territory that is the subject of Sanctions that broadly prohibit dealings with that country
or territory (including, without limitation, Cuba,&nbsp;Iran, North Korea, Syria, and the Crimea Region of the Ukraine) (the &ldquo;<B><U>Sanctioned
Countries</U></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.75in">(ii)&nbsp;&nbsp;The
Entity represents and covenants that it will not, directly or indirectly, use the proceeds of the offering, or lend, contribute
or otherwise make available such proceeds to any subsidiary, joint venture partner or other Person:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(A)&nbsp;&nbsp;to
fund or facilitate any activities or business of or with any Person or in any country or territory that, at the time of such funding
or facilitation, is the subject of Sanctions or is a Sanctioned Country; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0.5in">(B)&nbsp;&nbsp;in
any other manner that will result in a violation of Sanctions by any Person (including any Person participating in the offering,
whether as underwriter, advisor, investor or otherwise).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0.75in">(iii)&nbsp;&nbsp;The
Entity represents and covenants that, except as detailed in the Registration Statement and the Prospectus, for the past 5 years,
it has not knowingly engaged in, is not now engaging in, and will not engage in, any unauthorized dealings or transactions with
any Person, or in any country or territory, that at the time of the dealing or transaction is or was the subject of Sanctions or
is or was a Sanctioned Country.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(tt)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Stock
Transfer Taxes</U>. On each Settlement Date, all stock transfer or other taxes (other than income taxes) which are required to
be paid in connection with the sale and transfer of the Placement Shares to be sold hereunder will be, or will have been, fully
paid or provided for by the Company and all laws imposing such taxes will be or will have been fully complied with in all material
respects.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(uu)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Compliance
with Laws</U>. The Company and each of its Subsidiaries are in compliance with all applicable laws, regulations and statutes (including
all environmental laws and regulations) in the jurisdictions in which it carries on business; the Company has not received a notice
of non-compliance, nor knows of, nor has reasonable grounds to know of, any facts that could give rise to a notice of non-compliance
with any such laws, regulations and statutes, and is not aware of any pending change or contemplated change to any applicable law
or regulation or governmental position; in each case that would materially adversely affect the business of the Company or the
business or legal environment under which the Company operates.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(vv)</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Statistical
and Market-Related Data</U>.&nbsp; The statistical, demographic and market-related data included in the Registration Statement
and Prospectus are based on or derived from sources that the Company believes to be reliable and accurate or represent the Company&rsquo;s
good faith estimates that are made on the basis of data derived from such sources.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(ww)</FONT>&#9;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Cyber
Security</U>. Except as may be included or incorporated by reference in the Registration Statement and the Prospectus, (i)&nbsp;(x)&nbsp;to
the Company&rsquo;s knowledge, there has been no material security breach or other material compromise of or relating to any of
the Company&rsquo;s information technology and computer systems, networks, hardware, software, data (including the data of their
respective customers, employees, suppliers, vendors and any third party data maintained by or on behalf of them), equipment or
technology (collectively, &ldquo;<B><U>IT Systems and Data</U></B>&rdquo;), except as would not, individually or in the aggregate,
have a Material Adverse Effect and (y)&nbsp;the Company has not been notified of, and has no knowledge of any event or condition
that would reasonably be expected to result in, any material security breach or other material compromise to their IT Systems and
Data; (ii)&nbsp;the Company is presently in compliance with all applicable laws or statutes and all judgments, orders, rules&nbsp;and
regulations of any court or arbitrator or governmental or regulatory authority, internal policies and contractual obligations relating
to the privacy and security of IT Systems and Data and to the protection of such IT Systems and Data from unauthorized use, access,
misappropriation or modification, except as would not, individually or in the aggregate, result in a Material Adverse Effect; and
(iii)&nbsp;the Company has implemented backup and disaster recovery technology consistent with industry standards and practices,
except as would not, individually or in the aggregate, have a Material Adverse Effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any certificate signed
by an officer of the Company and delivered to the Agent or to counsel for the Agent pursuant to or in connection with this Agreement
shall be deemed to be a representation and warranty by the Company, as applicable, to the Agent as to the matters set forth therein.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">7.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Covenants
of the Company</U>. The Company covenants and agrees with Agent that:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registration
Statement Amendments</U>. After the date of this Agreement and during any period in which a Prospectus relating to any Placement
Shares is required to be delivered by the Agent under the Securities Act (including in circumstances where such requirement may
be satisfied pursuant to Rule&nbsp;172 under the Securities Act or similar rule), (i)&nbsp;the Company will notify the Agent promptly
of the time when any subsequent amendment to the Registration Statement, other than documents incorporated by reference, has been
filed with the Commission and/or has become effective or any subsequent supplement to the Prospectus, other than documents incorporated
by reference, has been filed and of any request by the Commission for any amendment or supplement to the Registration Statement
or Prospectus that relates to the transaction contemplated by this Agreement or for additional information that relates to the
transaction contemplated by this Agreement, (ii)&nbsp;the Company will prepare and file with the Commission, promptly upon the
Agent&rsquo;s request, any amendments or supplements to the Registration Statement or Prospectus that, in the Agent&rsquo;s reasonable
opinion, may be necessary or advisable in connection with the distribution of the Placement Shares by the Agent (<I>provided</I>,
<I>however</I>, that the failure of the Agent to make such request shall not relieve the Company of any obligation or liability
hereunder, or affect the Agent&rsquo;s right to rely on the representations and warranties made by the Company in this Agreement
and <I>provided</I>, <I>further</I>, that the only remedy the Agent shall have with respect to the failure to make such filing
shall be to cease making sales under this Agreement until such amendment or supplement is filed); (iii)&nbsp;the Company will not
file any amendment or supplement to the Registration Statement or Prospectus (except for documents incorporated by reference) relating
to the Placement Shares or a security convertible into the Placement Shares unless a copy thereof has been submitted to the Agent
within a reasonable period of time before the filing and the Agent has not reasonably objected thereto within two (2)&nbsp;Business
Days (<I>provided</I>, <I>however</I>, that (A)&nbsp;the failure of the Agent to make such objection shall not relieve the Company
of any obligation or liability hereunder, or affect the Agent&rsquo;s right to rely on the representations and warranties made
by the Company in this Agreement, and (B)&nbsp;the Company has no obligation to provide the Agent any advance copy of such filing
or to provide the Agent an opportunity to object to such filing, if such filing does not name the Agent and does not reference
the transactions contemplated hereunder, and <I>provided</I>, <I>further</I>, that the only remedy the Agent shall have with respect
to the failure by the Company to obtain such consent shall be to cease making sales under this Agreement) and the Company will
furnish to the Agent at the time of filing thereof a copy of any document that upon filing is deemed to be incorporated by reference
into the Registration Statement or Prospectus, except for those documents available via EDGAR; and (iv)&nbsp;the Company will cause
each amendment or supplement to the Prospectus to be filed with the Commission as required pursuant to the applicable paragraph
of Rule&nbsp;424(b)&nbsp;of the Securities Act or, in the case of any document to be incorporated therein by reference, to be filed
with the Commission as required pursuant to the Exchange Act, within the time period prescribed (the determination to file or not
file any amendment or supplement with the Commission under this <U>Section&nbsp;7(a)</U>, based on the Company&rsquo;s reasonable
opinion or reasonable objections, shall be made exclusively by the Company).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Notice
of Commission Stop Orders</U>. The Company will advise the Agent, promptly after it receives notice or obtains knowledge thereof,
of the issuance or threatened issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement,
of the suspension of the qualification of the Placement Shares for offering or sale in any jurisdiction, or of the initiation or
threatening of any proceeding for any such purpose; and it will promptly use its commercially reasonable efforts to prevent the
issuance of any stop order or to obtain its withdrawal if such a stop order should be issued. The Company will advise the Agent
promptly after it receives any request by the Commission for any amendments to the Registration Statement or any amendment or supplements
to the Prospectus or any Issuer Free Writing Prospectus or for additional information related to the offering of the Placement
Shares or for additional information related to the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of Prospectus; Subsequent Changes</U>. During any period in which a Prospectus relating to the Placement Shares is required to
be delivered by the Agent under the Securities Act with respect to the offer and sale of the Placement Shares, (including in circumstances
where such requirement may be satisfied pursuant to Rule&nbsp;172 under the Securities Act or similar rule), the Company will comply
with all requirements imposed upon it by the Securities Act, as from time to time in force, and to file on or before their respective
due dates all reports and any definitive proxy or information statements required to be filed by the Company with the Commission
pursuant to Sections 13(a), 13(c), 14, 15(d)&nbsp;or any other provision of or under the Exchange Act. If the Company has omitted
any information from the Registration Statement pursuant to Rule&nbsp;430B under the Securities Act, it will use its best efforts
to comply with the provisions of and make all requisite filings with the Commission pursuant to said Rule&nbsp;430B and to notify
the Agent promptly of all such filings if not available on EDGAR. If during such period any event occurs as a result of which the
Prospectus as then amended or supplemented would include an untrue statement of a material fact or omit to state a material fact
necessary to make the statements therein, in the light of the circumstances then existing, not misleading, or if during such period
it is necessary to amend or supplement the Registration Statement or Prospectus to comply with the Securities Act, the Company
will promptly notify the Agent to suspend the offering of Placement Shares during such period and the Company will promptly amend
or supplement the Registration Statement or Prospectus (at the expense of the Company) so as to correct such statement or omission
or effect such compliance; <I>provided, however</I>, that the Company may delay any such amendment or supplement if, in the judgement
of the Company, such delay is in the best interests of the Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Listing
of Placement Shares</U>. Prior to the date of the first Placement Notice, the Company will use its commercially reasonable efforts
to cause the Placement Shares to be listed on the Exchange.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Delivery
of Registration Statement and Prospectus</U>. The Company will furnish to the Agent and its counsel (at the reasonable expense
of the Company) copies of the Registration Statement, the Prospectus (including all documents incorporated by reference therein)
and all amendments and supplements to the Registration Statement or Prospectus that are filed with the Commission during any period
in which a Prospectus relating to the Placement Shares is required to be delivered under the Securities Act (including all documents
filed with the Commission during such period that are deemed to be incorporated by reference therein), in each case as soon as
reasonably practicable and in such quantities as the Agent may from time to time reasonably request and, at the Agent&rsquo;s request,
will also furnish copies of the Prospectus to each exchange or market on which sales of the Placement Shares may be made; <I>provided</I>,
<I>however</I>, that the Company shall not be required to furnish any document (other than the Prospectus) to the Agent to the
extent such document is available on EDGAR.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Earning
Statement</U>. To the extent not otherwise available on EDGAR, the Company will make generally available to its security holders
as soon as practicable, but in any event not later than 15 months after the end of the Company&rsquo;s current fiscal quarter,
an earning statement covering a 12-month period that satisfies the provisions of Section&nbsp;11(a)&nbsp;and Rule&nbsp;158 of the
Securities Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(g)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Use
of Proceeds</U>. The Company will use the Net Proceeds as described in the Prospectus in the section entitled &ldquo;Use of Proceeds.&rdquo;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(h)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Notice
of Other Sales</U>. During the term of this Agreement, without the prior written consent of the Agent (such consent not to be unreasonably
withheld, conditioned or delayed), the Company will not, directly or indirectly, offer to sell, sell, contract to sell, grant any
option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to this Agreement) or
securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire, Common Stock during
the period beginning on the fifth (5<SUP>th</SUP>) Trading Day immediately prior to the date on which any Placement Notice is delivered
to the Agent hereunder and ending on the fifth (5<SUP>th</SUP>) Trading Day immediately following the final Settlement Date with
respect to Placement Shares sold pursuant to such Placement Notice (or, if the Placement Notice has been terminated or suspended
prior to the sale of all Placement Shares covered by a Placement Notice, the date of such suspension or termination); and will
not directly or indirectly in any other &ldquo;at the market&rdquo; or continuous equity transaction offer to sell, sell, contract
to sell, grant any option to sell or otherwise dispose of any Common Stock (other than the Placement Shares offered pursuant to
this Agreement) or securities convertible into or exchangeable for Common Stock, warrants or any rights to purchase or acquire,
Common Stock prior to the later of the termination of this Agreement and the sixtieth (60<SUP>th</SUP>) day immediately following
the final Settlement Date with respect to Placement Shares sold pursuant to such Placement Notice; <I>provided</I>, <I>however</I>,
that such restrictions will not be required in connection with the Company&rsquo;s issuance or sale of (i)&nbsp;Common Stock, options
to purchase Common Stock, other awards of Common Stock under equity incentive plans or which are issued as an inducement to employment
or Common Stock issuable upon the exercise of options, pursuant to any employee or director stock option or benefits plan, inducement
grant award, stock ownership plan or dividend reinvestment plan (but not Common Stock subject to a waiver to exceed plan limits
in its dividend reinvestment plan) of the Company whether now in effect or hereafter implemented, (ii)&nbsp;warrants to purchase
Common Stock or Common Stock issuable upon conversion of securities or the exercise of warrants, options or other rights, including
the participation right held by clirSPV LLC, in effect or outstanding, and disclosed in filings by the Company available on EDGAR
or otherwise in writing to the Agent, and (iii)&nbsp;Common Stock or securities convertible into or exchangeable for shares of
Common Stock as consideration for mergers, acquisitions, other business combinations or strategic alliances occurring after the
date of this Agreement which are not issued for capital raising purposes.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Change
of Circumstances</U>. The Company will, at any time during the pendency of a Placement Notice advise the Agent promptly after it
shall have received notice or obtained knowledge thereof, of any information or fact that would alter or affect in any material
respect any opinion, certificate, letter or other document required to be provided to the Agent pursuant to this Agreement.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(j)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Due Diligence Cooperation</U>. During the terms of this Agreement, the Company
will cooperate with any reasonable due diligence review conducted by the Agent or its representatives in connection with the
transactions contemplated hereby, including, without limitation, providing information and making available documents and
senior corporate officers, during regular business hours and at the Company&rsquo;s principal offices, as the Agent may
reasonably request.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(k)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Required
Filings Relating to Placement of Placement Shares</U>. The Company shall disclose, in its quarterly reports on Form&nbsp;10-Q and
in its annual report on Form&nbsp;10-K to be filed by the Company with the Commission from time to time, the number of the Placement
Shares sold through the Agent under this Agreement, and the net proceeds to the Company from the sale of the Placement Shares pursuant
to this Agreement during the relevant quarter or, in the case of an Annual Report on Form&nbsp;10-K, during the fiscal year covered
by such Annual Report and the fourth quarter of such fiscal year. The Company agrees that on such dates as the Securities Act shall
require with respect to the Placement Shares, the Company will (i)&nbsp;file a prospectus supplement with the Commission under
the applicable paragraph of Rule&nbsp;424(b)&nbsp;under the Securities Act (each and every filing date under Rule&nbsp;424(b),
a &ldquo;<B><U>Filing Date</U></B>&rdquo;), which prospectus supplement will set forth, within the relevant period, the amount
of Placement Shares sold through the Agent, the Net Proceeds to the Company and the compensation payable by the Company to the
Agent with respect to such Placement Shares, and (ii)&nbsp;deliver such number of copies of each such prospectus supplement to
each exchange or market on which such sales were effected as may be required by the rules&nbsp;or regulations of such exchange
or market.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(l)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Representation
Dates; Certificate</U>. (1)&nbsp;On or prior to the date of the first Placement Notice and (2)&nbsp;each time the Company:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(i)&nbsp;files the Prospectus
relating to the Placement Shares or amends or supplements (other than a prospectus supplement relating solely to an offering of
securities other than the Placement Shares) the Registration Statement or the Prospectus relating to the Placement Shares by means
of a post-effective amendment, sticker, or supplement but not by means of incorporation of documents by reference into the Registration
Statement or the Prospectus relating to the Placement Shares;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(ii)&nbsp;files an annual report
on Form&nbsp;10-K under the Exchange Act (including any Form&nbsp;10-K/A containing amended financial information or a material
amendment to the previously filed Form&nbsp;10-K);</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(iii)&nbsp;files its quarterly
reports on Form&nbsp;10-Q under the Exchange Act; or</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">(iv)&nbsp;files a current report
on Form&nbsp;8-K containing amended financial information (other than information &ldquo;furnished&rdquo; pursuant to Items 2.02
or 7.01 of Form&nbsp;8-K or to provide disclosure pursuant to Item 8.01 of Form&nbsp;8-K relating to the reclassification of certain
properties as discontinued operations in accordance with Statement of Financial Accounting Standards No.&nbsp;144) under the Exchange
Act (each date of filing of one or more of the documents referred to in clauses (i)&nbsp;through (iv)&nbsp;shall be a &ldquo;<B><U>Representation
Date</U></B>&rdquo;);</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">the Company shall furnish the Agent (but
in the case of clause (iv)&nbsp;above only if the Agent reasonably determines that the information contained in such Form&nbsp;8-K
is material) with a certificate dated the Representation Date, in the form and substance satisfactory to the Agent and its counsel,
substantially similar to the form previously provided to the Agent and its counsel, modified, as necessary, to relate to the Registration
Statement and the Prospectus as amended or supplemented. The requirement to provide a certificate under this <U>Section&nbsp;7(l)</U>&nbsp;shall
be automatically waived for any Representation Date occurring (i)&nbsp;at a time a Suspension is in effect, which waiver shall
continue until the earlier to occur of the date the Company delivers instructions for the sale of Placement Shares hereunder (which
for such calendar quarter shall be considered a Representation Date) and the next occurring Representation Date and (ii)&nbsp;at
a time at which no Placement Notice is pending, which waiver shall continue until the date on which the Company delivers a Placement
Notice hereunder (which for such calendar quarter shall be considered a Representation Date). Notwithstanding the foregoing, if
the Company subsequently decides to sell Placement Shares following a Representation Date when a Suspension was in effect and did
not provide the Agent with a certificate under this <U>Section&nbsp;7(l)</U>, then before the Company delivers the instructions
for the sale of Placement Shares or the Agent sells any Placement Shares pursuant to such instructions, the Company shall provide
the Agent with a certificate in conformity with this <U>Section&nbsp;7(l)</U>&nbsp;dated as of the date that the instructions for
the sale of Placement Shares are issued.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(m)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Legal
Opinion</U>. On or prior to the date of the first Placement Notice, the Company shall cause to be furnished to the Agent a written
opinion and negative assurance letter of Mitchell Silberberg&nbsp;&amp; Knupp LLP, as counsel to the Company (&ldquo;<B><U>MSK</U></B>&rdquo;),
and a written opinion of Hillis Clark Martin&nbsp;&amp; Peterson P.S. as Washington counsel to the Company (&ldquo;<B><U>WA Counsel</U></B>&rdquo;
and, together with MSK, &ldquo;<B><U>Company Counsel</U></B>&rdquo;), or other counsel reasonably satisfactory to the Agent, in
form and substance satisfactory to the Agent and its counsel, substantially similar to the form previously provided to the Agent
and its counsel. Thereafter, within five (5)&nbsp;Trading Days of each Representation Date with respect to which the Company is
obligated to deliver a certificate pursuant to <U>Section&nbsp;7(l)</U>&nbsp;for which no waiver is applicable and excluding the
date of this Agreement, <FONT STYLE="background-color: white">the Company shall cause to be furnished to the Agent a negative assurance
letter of MSK in form and substance reasonably satisfactory to the Agent</FONT>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(n)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Comfort
Letter</U>. (1)&nbsp;On or prior to the date of the first Placement Notice and (2)&nbsp;within five (5)&nbsp;Trading Days of each
Representation Date with respect to which the Company is obligated to deliver a certificate pursuant to <U>Section&nbsp;7(l)</U>&nbsp;for
which no waiver is applicable and excluding the date of this Agreement, the Company shall cause its independent registered public
accounting firm to furnish the Agent letters (the &ldquo;<B><U>Comfort Letters</U></B>&rdquo;), dated the date the Comfort Letter
is delivered, which shall meet the requirements set forth in this <U>Section&nbsp;7(n)</U>; <I>provided</I>, that if requested
by the Agent, the Company shall cause a Comfort Letter to be furnished to the Agent within ten (10)&nbsp;Trading Days of the date
of occurrence of any material transaction or event requiring the filing of a Current Report on Form&nbsp;8-K containing material
financial information, including the restatement of the Company&rsquo;s financial statements. The Comfort Letter from the Company&rsquo;s
independent registered public accounting firm shall be in a form and substance reasonably satisfactory to the Agent, (i)&nbsp;confirming
that they are an independent registered public accounting firm within the meaning of the Securities Act and the PCAOB, (ii)&nbsp;stating,
as of such date, the conclusions and findings of such firm with respect to the financial information and other matters ordinarily
covered by accountants&rsquo; &ldquo;comfort letters&rdquo; to underwriters in connection with registered public offerings (the
first such letter, the &ldquo;<B><U>Initial Comfort Letter</U></B>&rdquo;) and (iii)&nbsp;updating the Initial Comfort Letter with
any information that would have been included in the Initial Comfort Letter had it been given on such date and modified as necessary
to relate to the Registration Statement and the Prospectus, as amended and supplemented to the date of such letter.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(o)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Market
Activities</U>. The Company will not, directly or indirectly, (i)&nbsp;take any action designed to cause or result in, or that
constitutes or would constitute, the stabilization or manipulation of the price of any security of the Company to facilitate the
sale or resale of Common Stock or (ii)&nbsp;sell, bid for, or purchase Common Stock in violation of Regulation M, or pay anyone
any compensation for soliciting purchases of the Placement Shares other than the Agent.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(p)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Investment
Company Act</U>. The Company will conduct its affairs in such a manner so as to reasonably ensure that neither it nor any of its
Subsidiaries will be or become, at any time prior to the termination of this Agreement, required to register as an &ldquo;investment
company,&rdquo; as such term is defined in the Investment Company Act.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(q)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Offer to Sell</U>. Other than an Issuer Free Writing Prospectus approved in advance by the Company and the Agent in its capacity
as agent hereunder, neither the Agent nor the Company (including its agents and representatives, other than the Agent in its capacity
as such) will make, use, prepare, authorize, approve or refer to any written communication (as defined in Rule&nbsp;405 under the
Securities Act), required to be filed with the Commission, that constitutes an offer to sell or solicitation of an offer to buy
Placement Shares hereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(r)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Blue
Sky and Other Qualifications</U><I>. </I> The Company will use its commercially reasonable efforts, in cooperation with the Agent,
to qualify the Placement Shares for offering and sale, or to obtain an exemption for the Placement Shares to be offered and sold,
under the applicable securities laws of such states and other jurisdictions (domestic or foreign) as the Agent may designate and
to maintain such qualifications and exemptions in effect for so long as required for the distribution of the Placement Shares (but
in no event for less than one year from the date of this Agreement); <I>provided</I>, <I>however</I>, that the Company shall not
be obligated to file any general consent to service of process or to qualify as a foreign corporation or as a dealer in securities
in any jurisdiction in which it is not so qualified or to subject itself to taxation in respect of doing business in any jurisdiction
in which it is not otherwise so subject. In each jurisdiction in which the Placement Shares have been so qualified or exempt, the
Company will file such statements and reports as may be required by the laws of such jurisdiction to continue such qualification
or exemption, as the case may be, in effect for so long as required for the distribution of the Placement Shares (but in no event
for less than one year from the date of this Agreement).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(s)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Sarbanes-Oxley
Act</U>. The Company and the Subsidiaries will maintain and keep accurate books and records reflecting their assets and maintain
internal accounting controls in a manner designed to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and
including those policies and procedures that (i)&nbsp;pertain to the maintenance of records that in reasonable detail accurately
and fairly reflect the transactions and dispositions of the assets of the Company, (ii)&nbsp;provide reasonable assurance that
transactions are recorded as necessary to permit the preparation of the Company&rsquo;s consolidated financial statements in accordance
with generally accepted accounting principles, (iii)&nbsp;that receipts and expenditures of the Company are being made only in
accordance with management&rsquo;s and the Company&rsquo;s directors&rsquo; authorization, and (iv)&nbsp;provide reasonable assurance
regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company&rsquo;s assets that could
have a material effect on its financial statements. The Company and the Subsidiaries will maintain such controls and other procedures,
including, without limitation, those required by Sections 302 and 906 of the Sarbanes-Oxley Act, and the applicable regulations
thereunder that are designed to ensure that information required to be disclosed by the Company in the reports that it files or
submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&rsquo;s
rules&nbsp;and forms, including, without limitation, controls and procedures designed to ensure that information required to be
disclosed by the Company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the
Company&rsquo;s management, including its principal executive officer and principal financial officer, or persons performing similar
functions, as appropriate to allow timely decisions regarding required disclosure and to ensure that material information relating
to the Company or the Subsidiaries is made known to them by others within those entities, particularly during the period in which
such periodic reports are being prepared.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(t)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Secretary&rsquo;s
Certificate; Further Documentation</U>. On or prior to the date of the first Placement Notice, the Company shall deliver to the
Agent a certificate of the Secretary of the Company and attested to by an executive officer of the Company, dated as of such date,
certifying as to (i)&nbsp;the Articles of Incorporation of the Company, (ii)&nbsp;the Bylaws of the Company, (iii)&nbsp;the resolutions
of the Board of Directors of the Company authorizing the execution, delivery and performance of this Agreement and the issuance
of the Placement Shares and (iv)&nbsp;the incumbency of the officers duly authorized to execute this Agreement and the other documents
contemplated by this Agreement. Within five (5)&nbsp;Trading Days of each Representation Date, the Company shall have furnished
to the Agent such further information, certificates and documents as the Agent may reasonably request.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">8.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Payment
of Expenses</U>. The Company will pay all expenses incident to the performance of its obligations under this Agreement, including
(i)&nbsp;the preparation and filing of the Registration Statement, including any fees required by the Commission, and the printing
or electronic delivery of the Prospectus as originally filed and of each amendment and supplement thereto, in such number as the
Agent shall reasonably deem necessary, (ii)&nbsp;the printing and delivery to the Agent of this Agreement and such other documents
as may be required in connection with the offering, purchase, sale, issuance or delivery of the Placement Shares, (iii)&nbsp;the
preparation, issuance and delivery of the certificates, if any, for the Placement Shares to the Agent, including any stock or other
transfer taxes and any capital duties, stamp duties or other duties or taxes payable upon the sale, issuance or delivery of the
Placement Shares to the Agent, (iv)&nbsp;the fees and disbursements of the counsel, accountants and other advisors to the Company,
(v)&nbsp;the fees and documented expenses of the Agent including but not limited to the fees and documented expenses of the counsel
to the Agent, payable upon the execution of this Agreement, in an amount not to exceed $50,000, (vi)&nbsp;the qualification or
exemption of the Placement Shares under state securities laws in accordance with the provisions of <U>Section&nbsp;7(r)</U>&nbsp;hereof,
including filing fees, but excluding fees of the Agent&rsquo;s counsel, (vii)&nbsp;the printing and delivery to the Agent of copies
of any Permitted Issuer Free Writing Prospectus and the Prospectus and any amendments or supplements thereto in such number as
the Agent shall deem reasonably necessary, (viii)&nbsp;the preparation, printing and delivery to the Agent of copies of the blue
sky survey, (ix)&nbsp;the fees and expenses of the transfer agent and registrar for the Common Stock, (x)&nbsp;the filing and other
fees incident to any review by FINRA of the terms of the sale of the Placement Shares including the fees of the Agent&rsquo;s counsel
(subject to the cap, set forth in clause (v)&nbsp;above), and (xi)&nbsp;the fees and expenses incurred in connection with the listing
of the Placement Shares on the Exchange.</FONT></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">9.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Conditions
to the Agent&rsquo;s Obligations</U>. The obligations of the Agent hereunder with respect to a Placement will be subject to the
continuing accuracy and completeness of the representations and warranties made by the Company herein, to the due performance by
the Company of its obligations hereunder, to the completion by the Agent of a due diligence review satisfactory to it in its reasonable
judgment, and to the continuing satisfaction (or waiver by the Agent in its sole discretion) of the following additional conditions:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Registration
Statement Effective</U>. The Registration Statement shall have become effective and shall be available for the sale of all Placement
Shares contemplated to be issued by any Placement Notice.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Material Notices</U>. None of the following events shall have occurred and be continuing: (i)&nbsp;receipt by the Company of any
request for additional information from the Commission or any other federal or state Governmental Authority during the period of
effectiveness of the Registration Statement, the response to which would require any post-effective amendments or supplements to
the Registration Statement or the Prospectus if such post-effective amendments or supplements have not been filed and become effective;
(ii)&nbsp;the issuance by the Commission or any other federal or state Governmental Authority of any stop order suspending the
effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii)&nbsp;receipt by the Company
of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Placement
Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; or (iv)&nbsp;the occurrence
of any event that makes any statement of a material fact made in the Registration Statement or the Prospectus or any document incorporated
or deemed to be incorporated therein by reference untrue or that requires the making of any changes in the Registration Statement,
the Prospectus or documents so that, in the case of the Registration Statement, it will not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading
and, that in the case of the Prospectus, it will not contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Misstatement or Material Omission</U>. The Agent shall not have advised the Company that the Registration Statement or Prospectus,
or any amendment or supplement thereto, contains an untrue statement of fact that in the Agent&rsquo;s reasonable opinion is material,
or omits to state a fact that in the Agent&rsquo;s reasonable opinion is material and is required to be stated therein or is necessary
to make the statements therein not misleading.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Material
Changes</U>. Except as contemplated in the Prospectus, or disclosed in the Company&rsquo;s reports filed with the Commission, there
shall not have been any material adverse change in the authorized capital stock of the Company or any Material Adverse Effect or
any development that would reasonably be expected to cause a Material Adverse Effect, or a downgrading in or withdrawal of the
rating assigned to any of the Company&rsquo;s securities (other than asset backed securities) by any rating organization or a public
announcement by any rating organization that it has under surveillance or review its rating of any of the Company&rsquo;s securities
(other than asset backed securities), the effect of which, in the case of any such action by a rating organization described above,
in the reasonable judgment of the Agent (without relieving the Company of any obligation or liability it may otherwise have), is
so material as to make it impracticable or inadvisable to proceed with the offering of the Placement Shares on the terms and in
the manner contemplated in the Prospectus.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Legal
Opinions</U>. The Agent shall have received the opinions of Company Counsel required to be delivered pursuant to <U>Section&nbsp;7(m)</U>&nbsp;on
or before the date on which such delivery of such opinions is required pursuant to <U>Section&nbsp;7(m)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(f)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Comfort
Letter</U>. The Agent shall have received the Comfort Letter required to be delivered pursuant to <U>Section&nbsp;7(n)</U>&nbsp;on
or before the date on which such delivery of such Comfort Letter is required pursuant to <U>Section&nbsp;7(n)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(g)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Representation
Certificate</U>. The Agent shall have received the certificate required to be delivered pursuant to <U>Section&nbsp;7(l)</U>&nbsp;on
or before the date on which delivery of such certificate is required pursuant to <U>Section&nbsp;7(l)</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(h)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Suspension</U>. Trading in the Common Stock shall not have been suspended on the Exchange and the Common Stock shall not have been
delisted from the Exchange.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Other
Materials</U>. On each date on which the Company is required to deliver a certificate pursuant to <U>Section&nbsp;7(l)</U>, the
Company shall have furnished to the Agent such appropriate further information, opinions, certificates, letters and other documents
as the Agent may reasonably request. All such opinions, certificates, letters and other documents will be in compliance with the
provisions hereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(j)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Securities
Act Filings Made</U>. All filings with the Commission related to the Placement Shares required by Rule&nbsp;424 under the Securities
Act to have been filed prior to the issuance of any Placement Notice hereunder shall have been made within the applicable time
period prescribed for such filing by Rule&nbsp;424.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(k)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Approval
for Listing</U>. The Placement Shares shall either have been (i)&nbsp;approved for listing on the Exchange, subject only to notice
of issuance, or (ii)&nbsp;the Company shall have filed an application for listing of the Placement Shares on the Exchange at, or
prior to, the issuance of any Placement Notice and the Exchange shall have reviewed such application and not provided any objections
thereto.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(l)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>FINRA</U>.
If applicable, FINRA shall have raised no objection to the terms of this offering and the amount of compensation allowable or payable
to the Agent as described in the Prospectus.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(m)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>No
Termination Event</U>. There shall not have occurred any event that would permit the Agent to terminate this Agreement pursuant
to <U>Section&nbsp;12(a)</U>.</FONT></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Company
Indemnification</U>. The Company agrees to indemnify and hold harmless the Agent, its affiliates and their respective partners,
members, directors, officers, employees and agents and each person, if any, who controls the Agent or any affiliate within the
meaning of Section&nbsp;15 of the Securities Act or Section&nbsp;20 of the Exchange Act as follows:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(i)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">against
any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, arising out of or based upon
any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement (or any amendment thereto),
or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements
therein not misleading, or arising out of any untrue statement or alleged untrue statement of a material fact included in any related
Issuer Free Writing Prospectus or the Prospectus (or any amendment or supplement thereto), or the omission or alleged omission
therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they
were made, not misleading;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(ii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">against
any and all loss, liability, claim, damage and expense whatsoever, as incurred, joint or several, to the extent of the aggregate
amount paid in settlement of any litigation, or any investigation or proceeding by any Governmental Authority, commenced or threatened,
or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission;
<I>provided</I> that (subject to <U>Section&nbsp;10(d)</U>&nbsp;below) any such settlement is effected with the written consent
of the Company, which consent shall not unreasonably be delayed or withheld; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in"><FONT STYLE="font-size: 10pt">(iii)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">against
any and all expense whatsoever, as incurred (including the reasonable and documented fees and disbursements of counsel), reasonably
incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any Governmental
Authority, commenced or threatened, or any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission (whether or not a party), to the extent that any such expense is not paid under (i)&nbsp;or (ii)&nbsp;above,</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>provided</I>, <I>however</I>, that this
indemnity agreement shall not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement
or omission or alleged untrue statement or omission made solely in reliance upon and in conformity with the Agent Information (defined
below).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Agent
Indemnification</U>. The Agent agrees to indemnify and hold harmless the Company and its directors and each officer of the Company
who signed the Registration Statement, and each person, if any, who controls the Company within the meaning of Section&nbsp;15
of the Securities Act or Section&nbsp;20 of the Exchange Act against any and all loss, liability, claim, damage and expense described
in the indemnity contained in <U>Section&nbsp;10(a)</U>, as incurred, but only with respect to untrue statements or omissions,
or alleged untrue statements or omissions, made in the Registration Statement (or any amendments thereto), the Prospectus (or any
amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) in reliance upon
and in conformity with information relating to the Agent and furnished to the Company in writing by the Agent expressly for use
therein. The Company hereby acknowledges that the only information that the Agent has furnished to the Company expressly for use
in the Registration Statement, the Prospectus or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) are
the statements set forth in the eighth and ninth paragraphs under the caption &ldquo;Plan of Distribution&rdquo; in the Prospectus
(the &ldquo;<B><U>Agent Information</U></B>&rdquo;).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Procedure</U>.
Any party that proposes to assert the right to be indemnified under this <U>Section&nbsp;10</U> will, promptly after receipt of
notice of commencement of any action against such party in respect of which a claim is to be made against an indemnifying party
or parties under this <U>Section&nbsp;10</U>, notify each such indemnifying party of the commencement of such action, enclosing
a copy of all papers served, but the omission so to notify such indemnifying party will not relieve the indemnifying party from
(i)&nbsp;any liability that it might have to any indemnified party otherwise than under this <U>Section&nbsp;10</U> and (ii)&nbsp;any
liability that it may have to any indemnified party under the foregoing provision of this <U>Section&nbsp;10</U> unless, and only
to the extent that, such omission results in the forfeiture of substantive rights or defenses by the indemnifying party. If any
such action is brought against any indemnified party and it notifies the indemnifying party of its commencement, the indemnifying
party will be entitled to participate in and, to the extent that it elects by delivering written notice to the indemnified party
promptly after receiving notice of the commencement of the action from the indemnified party, jointly with any other indemnifying
party similarly notified, to assume the defense of the action, with counsel reasonably satisfactory to the indemnified party, and
after notice from the indemnifying party to the indemnified party of its election to assume the defense, the indemnifying party
will not be liable to the indemnified party for any other legal expenses except as provided below and except for the reasonable
and documented costs of investigation subsequently incurred by the indemnified party in connection with the defense. The indemnified
party will have the right to employ its own counsel in any such action, but the fees, expenses and other charges of such counsel
will be at the expense of such indemnified party unless (1)&nbsp;the employment of counsel by the indemnified party has been authorized
in writing by the indemnifying party, (2)&nbsp;the indemnified party has reasonably concluded (based on advice of counsel) that
there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available
to the indemnifying party, (3)&nbsp;a conflict or potential conflict exists (based on advice of counsel to the indemnified party)
between the indemnified party and the indemnifying party (in which case the indemnifying party will not have the right to direct
the defense of such action on behalf of the indemnified party) or (4)&nbsp;the indemnifying party has not in fact employed counsel
to assume the defense of such action or counsel reasonably satisfactory to the indemnified party, in each case, within a reasonable
time after receiving notice of the commencement of the action; in each of which cases the reasonable and documented fees, disbursements
and other charges of counsel will be at the expense of the indemnifying party or parties. It is understood that the indemnifying
party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the
reasonable and documented fees, disbursements and other charges of more than one separate firm (plus local counsel) admitted to
practice in such jurisdiction at any one time for all such indemnified party or parties. All such fees, disbursements and other
charges will be reimbursed by the indemnifying party promptly after the indemnifying party receives a written invoice relating
to fees, disbursements and other charges in reasonable detail. An indemnifying party will not, in any event, be liable for any
settlement of any action or claim effected without its written consent. No indemnifying party shall, without the prior written
consent of each indemnified party, settle or compromise or consent to the entry of any judgment in any pending or threatened claim,
action or proceeding relating to the matters contemplated by this <U>Section&nbsp;10</U> (whether or not any indemnified party
is a party thereto), unless such settlement, compromise or consent (1)&nbsp;includes an express and unconditional release of each
indemnified party, in form and substance reasonably satisfactory to such indemnified party, from all liability arising out of such
litigation, investigation, proceeding or claim and (2)&nbsp;does not include a statement as to or an admission of fault, culpability
or a failure to act by or on behalf of any indemnified party.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Settlement
Without Consent if Failure to Reimburse</U><I>. </I> If an indemnified party shall have requested an indemnifying party to reimburse
the indemnified party for reasonable and documented fees and expenses of counsel, such indemnifying party agrees that it shall
be liable for any settlement of the nature contemplated by <U>Section&nbsp;10(a)(ii)</U>&nbsp;effected without its written consent
if (1)&nbsp;such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request,
(2)&nbsp;such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement
being entered into and (3)&nbsp;such indemnifying party shall not have reimbursed such indemnified party in accordance with such
request prior to the date of such settlement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Contribution</U>.
In order to provide for just and equitable contribution in circumstances in which the indemnification provided for in the foregoing
paragraphs of this <U>Section&nbsp;10</U> is applicable in accordance with its terms but for any reason is held to be unavailable
or insufficient from the Company or the Agent, the Company and the Agent will contribute to the total losses, claims, liabilities,
expenses and damages (including any investigative, legal and other expenses reasonably incurred in connection with, and any amount
paid in settlement of, any action, suit or proceeding or any claim asserted) to which the Company and the Agent may be subject
in such proportion as shall be appropriate to reflect the relative benefits received by the Company on the one hand and the Agent
on the other hand. The relative benefits received by the Company on the one hand and the Agent on the other hand shall be deemed
to be in the same proportion as the total net proceeds from the sale of the Placement Shares (before deducting expenses) received
by the Company bear to the total compensation received by the Agent from the sale of Placement Shares on behalf of the Company.
If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution
shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence
but also the relative fault of the Company, on the one hand, and the Agent, on the other hand, with respect to the statements or
omission that resulted in such loss, claim, liability, expense or damage, or action in respect thereof, as well as any other relevant
equitable considerations with respect to such offering. Such relative fault shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates
to information supplied by the Company or the Agent, the intent of the parties and their relative knowledge, access to information
and opportunity to correct or prevent such statement or omission. The Company and the Agent agree that it would not be just and
equitable if contributions pursuant to this <U>Section&nbsp;10(e)</U>&nbsp;were to be determined by pro rata allocation or by any
other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or
payable by an indemnified party as a result of the loss, claim, liability, expense, or damage, or action in respect thereof, referred
to above in this <U>Section&nbsp;10(e)</U>&nbsp;shall be deemed to include, for the purpose of this <U>Section&nbsp;10(e)</U>,
any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such
action or claim to the extent consistent with <U>Section&nbsp;10(c)</U>&nbsp;hereof. Notwithstanding the foregoing provisions of
this <U>Section&nbsp;10(e)</U>, the Agent shall not be required to contribute any amount in excess of the commissions received
by it under this Agreement and no person found guilty of fraudulent misrepresentation (within the meaning of <U>Section&nbsp;11(f)</U>&nbsp;of
the Securities Act) will be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For
purposes of this <U>Section&nbsp;10(e)</U>, any person who controls a party to this Agreement within the meaning of the Securities
Act, any affiliates of the Agent and any officers, directors, partners, employees or agents of the Agent or any of its affiliates,
will have the same rights to contribution as that party, and each director of the Company and each officer of the Company who signed
the Registration Statement will have the same rights to contribution as the Company, subject in each case to the provisions hereof.
Any party entitled to contribution, promptly after receipt of notice of commencement of any action against such party in respect
of which a claim for contribution may be made under this <U>Section&nbsp;10(e)</U>, will notify any such party or parties from
whom contribution may be sought, but the omission to so notify will not relieve that party or parties from whom contribution may
be sought from any other obligation it or they may have under this <U>Section&nbsp;10(e)</U>&nbsp;except to the extent that the
failure to so notify such other party materially prejudiced the substantive rights or defenses of the party from whom contribution
is sought. Except for a settlement entered into pursuant to the last sentence of <U>Section&nbsp;10(c)</U>&nbsp;hereof, no party
will be liable for contribution with respect to any action or claim settled without its written consent if such consent is required
pursuant to <U>Section&nbsp;10(c)</U>&nbsp;hereof.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">11.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Representations
and Agreements to Survive Delivery</U>. The indemnity and contribution agreements contained in <U>Section&nbsp;10</U> of this Agreement
and all representations and warranties of the Company herein or in certificates delivered pursuant hereto shall survive, as of
their respective dates, regardless of (i)&nbsp;any investigation made by or on behalf of the Agent, any controlling persons, or
the Company (or any of their respective officers, directors, employees or controlling persons), (ii)&nbsp;delivery and acceptance
of the Placement Shares and payment therefor or (iii)&nbsp;any termination of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">12.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Termination</U>.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Agent may terminate this Agreement, by notice to the Company, as hereinafter specified at any time (1)&nbsp;if there has been,
since the time of execution of this Agreement or since the date as of which information is given in the Prospectus, any Material
Adverse Effect, or any development that would have a Material Adverse Effect that, in the sole judgment of the Agent is material
and adverse and makes it impractical or inadvisable to market the Placement Shares or to enforce contracts for the sale of the
Placement Shares, (2)&nbsp;if there has occurred any material adverse change in the financial markets in the United States or the
international financial markets, any outbreak of hostilities or escalation thereof or other calamity or crisis or any change or
development involving a prospective change in national or international political, financial or economic conditions, in each case
the effect of which is such as to make it, in the judgment of the Agent, impracticable or inadvisable to market the Placement Shares
or to enforce contracts for the sale of the Placement Shares, (3)&nbsp;if trading in the Common Stock has been suspended or limited
by the Commission or the Exchange, or if trading generally on the Exchange has been suspended or limited, or minimum prices for
trading have been fixed on the Exchange, (4)&nbsp;if any suspension of trading of any securities of the Company on any exchange
or in the over-the-counter market shall have occurred and be continuing, (5)&nbsp;if a major disruption of securities settlements
or clearance services in the United States shall have occurred and be continuing, or (6)&nbsp;if a banking moratorium has been
declared by either U.S. Federal or New York authorities. Any such termination shall be without liability of any party to any other
party except that the provisions of <U>Section&nbsp;8</U> (Payment of Expenses), <U>Section&nbsp;10</U> (Indemnification and Contribution),
<U>Section&nbsp;11</U> (Representations and Agreements to Survive Delivery), <U>Section&nbsp;17</U> (Governing Law and Time; Waiver
of Jury Trial) and <U>Section&nbsp;18</U> (Consent to Jurisdiction) hereof shall remain in full force and effect notwithstanding
such termination. If the Agent elects to terminate this Agreement as provided in this <U>Section&nbsp;12(a)</U>, the Agent shall
provide the required notice as specified in <U>Section&nbsp;13</U> (Notices).</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company shall have the right, by giving ten (10)&nbsp;days&rsquo; notice as hereinafter specified to terminate this Agreement in
its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of <U>Section&nbsp;8</U>, <U>Section&nbsp;10</U>, <U>Section&nbsp;11</U>, <U>Section&nbsp;17</U>
and <U>Section&nbsp;18</U> hereof shall remain in full force and effect notwithstanding such termination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Agent shall have the right, by giving ten (10)&nbsp;days&rsquo; notice as hereinafter specified to terminate this Agreement in
its sole discretion at any time after the date of this Agreement. Any such termination shall be without liability of any party
to any other party except that the provisions of <U>Section&nbsp;8</U>, <U>Section&nbsp;10</U>, <U>Section&nbsp;11</U>, <U>Section&nbsp;17</U>
and <U>Section&nbsp;18</U> hereof shall remain in full force and effect notwithstanding such termination.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">This
Agreement shall remain in full force and effect unless terminated pursuant to <U>Sections 12(a)</U>, <U>(b)</U>&nbsp;or <U>(c)</U>&nbsp;above
or otherwise by mutual agreement of the parties; <I>provided</I>, <I>however</I>, that any such termination by mutual agreement
shall in all cases be deemed to provide that <U>Section&nbsp;8</U>, <U>Section&nbsp;10</U>, <U>Section&nbsp;11</U>, <U>Section&nbsp;17</U>
and <U>Section&nbsp;18</U> shall remain in full force and effect.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Any
termination of this Agreement shall be effective on the date specified in such notice of termination; <I>provided</I>, <I>however</I>,
that such termination shall not be effective until the close of business on the date of receipt of such notice by the Agent or
the Company, as the case may be. If such termination shall occur prior to the Settlement Date for any sale of Placement Shares,
such Placement Shares shall settle in accordance with the provisions of this Agreement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">13.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Notices</U>.
All notices or other communications required or permitted to be given by any party to any other party pursuant to the terms of
this Agreement shall be in writing, unless otherwise specified, and if sent to the Agent, shall be delivered to:</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">One Liberty Plaza, 165 Broadway&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10006</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Virtu
Capital Market</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Email:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">ATM@Virtu.com</FONT></P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">55 Hudson
Yards</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">New York,
NY 10001</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Attention:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Daniel
I. Goldberg,&nbsp;Esq.</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Facsimile:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">(212)
479-6275</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">and if to
the Company, shall be delivered to:</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">12870 Interurban Avenue South&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Seattle, Washington 98168&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Attention: Brian G. Fike, Chief Financial Officer</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">Facsimile: (206) 641-9306</P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">437 Madison Avenue</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">New York, NY 10022&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Attention:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Blake
Baron,&nbsp;Esq.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify"><FONT STYLE="font-size: 10pt">Email:</FONT>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">bjb@msk.com</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each party to this
Agreement may change such address for notices by sending to the parties to this Agreement written notice of a new address for such
purpose. Each such notice or other communication shall be deemed given (i)&nbsp;when delivered personally or by verifiable facsimile
transmission (with an original to follow) on or before 4:30&nbsp;p.m., New York City time, on a Business Day or, if such day is
not a Business Day, on the next succeeding Business Day, (ii)&nbsp;on the next Business Day after timely delivery to a nationally-recognized
overnight courier and (iii)&nbsp;on the Business Day actually received if deposited in the U.S. mail (certified or registered mail,
return receipt requested, postage prepaid). For purposes of this Agreement, &ldquo;<B><U>Business Day</U></B>&rdquo; shall mean
any day on which the Exchange and commercial banks in the City of New York are open for business.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">An electronic communication
(&ldquo;<B><U>Electronic Notice</U></B>&rdquo;) shall be deemed written notice for purposes of this Section&nbsp;13 if sent to
the electronic mail address specified by the receiving party under separate cover. Electronic Notice shall be deemed received at
the time the party sending Electronic Notice receives verification of receipt by the receiving party. Any party receiving Electronic
Notice may request and shall be entitled to receive the notice on paper, in a nonelectronic form (&ldquo;<B><U>Nonelectronic Notic</U>e</B>&rdquo;)
which shall be sent to the requesting party within ten (10)&nbsp;days of receipt of the written request for Nonelectronic Notice.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">14.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Successors
and Assigns</U>. This Agreement shall inure to the benefit of and be binding upon the Company and the Agent and their respective
successors and the parties referred to in Section&nbsp;10 hereof. References to any of the parties contained in this Agreement
shall be deemed to include the successors and permitted assigns of such party. Nothing in this Agreement, express or implied, is
intended to confer upon any party other than the parties hereto or their respective successors and permitted assigns any rights,
remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. Neither
party may assign its rights or obligations under this Agreement without the prior written consent of the other party; <I>provided</I>,
<I>however</I>, that the Agent may assign its rights and obligations hereunder to an affiliate thereof without obtaining the Company&rsquo;s
consent.</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">15.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Adjustments
for Stock Splits</U>. The parties acknowledge and agree that all share-related numbers contained in this Agreement shall be adjusted
to take into account any stock split, stock dividend or similar event effected with respect to the Placement Shares.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">16.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Entire
Agreement; Amendment; Severability; Waiver</U>. This Agreement (including all schedules and exhibits attached hereto and Placement
Notices issued pursuant hereto) constitutes the entire agreement and supersedes all other prior and contemporaneous agreements
and undertakings, both written and oral, among the parties hereto with regard to the subject matter hereof. Neither this Agreement
nor any term hereof may be amended except pursuant to a written instrument executed by the Company and the Agent. In the event
that any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable as written by a court of competent jurisdiction, then such provision shall be given full force and effect to the
fullest possible extent that it is valid, legal and enforceable, and the remainder of the terms and provisions herein shall be
construed as if such invalid, illegal or unenforceable term or provision was not contained herein, but only to the extent that
giving effect to such provision and the remainder of the terms and provisions hereof shall be in accordance with the intent of
the parties as reflected in this Agreement. No implied waiver by a party shall arise in the absence of a waiver in writing signed
by such party. No failure or delay in exercising any right, power, or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power,
or privilege hereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">17.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><B><U>GOVERNING
LAW AND TIME; WAIVER OF JURY TRIAL</U>. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS. SPECIFIED TIMES OF DAY REFER TO NEW YORK CITY TIME. EACH PARTY
HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">18.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><B><U>CONSENT
TO JURISDICTION</U>. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF THE STATE AND FEDERAL COURTS SITTING
IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH ANY TRANSACTION
CONTEMPLATED HEREBY, AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY CLAIM THAT
IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, THAT SUCH SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN INCONVENIENT
FORUM OR THAT THE VENUE OF SUCH SUIT, ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF
PROCESS AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY THEREOF (CERTIFIED OR REGISTERED
MAIL, RETURN RECEIPT REQUESTED) TO SUCH PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH
SERVICE SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED HEREIN SHALL BE DEEMED TO
LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW.</B></FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">19.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Counterparts</U>.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument. Delivery of an executed Agreement by one party to the other may be made by facsimile
or by electronic delivery of a portable document format (PDF) file (including any electronic signature covered by the U.S. federal
ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g.,
www.docusign.com).</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">20.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Construction</U>.
The section and exhibit&nbsp;headings herein are for convenience only and shall not affect the construction hereof. References
herein to any law, statute, ordinance, code, regulation, rule&nbsp;or other requirement of any Governmental Authority shall be
deemed to refer to such law, statute, ordinance, code, regulation, rule&nbsp;or other requirement of any Governmental Authority
as amended, reenacted, supplemented or superseded in whole or in part and in effect from time to time and also to all rules&nbsp;and
regulations promulgated thereunder.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">21.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Permitted
Free Writing Prospectuses</U>. The Company represents, warrants and agrees that, unless it obtains the prior written consent of
the Agent (any such consent not to be unreasonably withheld, conditioned or delayed), and the Agent represents, warrants and agrees
that, unless it obtains the prior written consent of the Company (any such consent not to be unreasonably withheld, conditioned
or delayed), it has not made and will not make any offer relating to the Placement Shares that would constitute an Issuer Free
Writing Prospectus, or that would otherwise constitute a &ldquo;free writing prospectus,&rdquo; as defined in Rule&nbsp;405, required
to be filed with the Commission. Any such free writing prospectus consented to by the Agent or by the Company, as the case may
be, is hereinafter referred to as a &ldquo;Permitted Free Writing Prospectus.&rdquo; The Company represents and warrants that it
has treated and agrees that it will treat each Permitted Free Writing Prospectus as an &ldquo;issuer free writing prospectus,&rdquo;
as defined in Rule&nbsp;433, and has complied and will comply with the requirements of Rule&nbsp;433 applicable to any Permitted
Free Writing Prospectus, including timely filing with the Commission where required, legending and record keeping. For the purposes
of clarity, the parties hereto agree that all free writing prospectuses, if any, listed in <U>Exhibit&nbsp;21</U> hereto are Permitted
Free Writing Prospectuses.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">22.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Absence
of Fiduciary Relationship</U>. The Company acknowledges and agrees that:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(a)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Agent is acting solely as agent in connection with the public offering of the Placement Shares and in connection with each transaction
contemplated by this Agreement and the process leading to such transactions, and no fiduciary or advisory relationship between
the Company or any of its respective affiliates, stockholders (or other equity holders), creditors or employees or any other party,
on the one hand, and the Agent, on the other hand, has been or will be created in respect of any of the transactions contemplated
by this Agreement, irrespective of whether or not the Agent has advised or is advising the Company on other matters, and the Agent
has no obligation to the Company with respect to the transactions contemplated by this Agreement except the obligations expressly
set forth in this Agreement;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(b)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">it
is capable of evaluating and understanding, and understands and accepts, the terms, risks and conditions of the transactions contemplated
by this Agreement;</FONT></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(c)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">neither
the Agent nor its affiliates have provided any legal, accounting, regulatory or tax advice with respect to the transactions contemplated
by this Agreement and it has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate;</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(d)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">it
is aware that the Agent and its affiliates are engaged in a broad range of transactions which may involve interests that differ
from those of the Company and the Agent and its affiliates have no obligation to disclose such interests and transactions to the
Company by virtue of any fiduciary, advisory or agency relationship or otherwise; and</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-size: 10pt">(e)</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">it
waives, to the fullest extent permitted by law, any claims it may have against the Agent or its affiliates for breach of fiduciary
duty or alleged breach of fiduciary duty in connection with the sale of Placement Shares under this Agreement and agrees that the
Agent and its affiliates shall not have any liability (whether direct or indirect, in contract, tort or otherwise) to it in respect
of such a fiduciary duty claim or to any person asserting a fiduciary duty claim on its behalf or in right of it or the Company,
employees or creditors of Company.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">23.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt"><U>Definitions</U>.
As used in this Agreement, the following terms have the respective meanings set forth below:</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><U>Applicable
Time</U></B>&rdquo; means (i)&nbsp;each Representation Date, (ii)&nbsp;the time of each sale of any Placement Shares pursuant to
this Agreement and (iii)&nbsp;each Settlement Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><U>Governmental
Authority</U></B>&rdquo; means (i)&nbsp;any federal, provincial, state, local, municipal, national or international government
or governmental authority, regulatory or administrative agency, governmental commission, department, board, bureau, agency or instrumentality,
court, tribunal, arbitrator or arbitral body (public or private); (ii)&nbsp;any self-regulatory organization; or (iii)&nbsp;any
political subdivision of any of the foregoing.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B><U>Issuer
Free Writing Prospectus</U></B>&rdquo; means any &ldquo;issuer free writing prospectus,&rdquo; as defined in Rule&nbsp;433, relating
to the Placement Shares that (1)&nbsp;is required to be filed with the Commission by the Company, (2)&nbsp;is a &ldquo;road show&rdquo;
that is a &ldquo;written communication&rdquo; within the meaning of Rule&nbsp;433(d)(8)(i)&nbsp;whether or not required to be filed
with the Commission, or (3)&nbsp;is exempt from filing pursuant to Rule&nbsp;433(d)(5)(i)&nbsp;because it contains a description
of the Placement Shares or of the offering that does not reflect the final terms, in each case in the form filed or required to
be filed with the Commission or, if not required to be filed, in the form retained in the Company&rsquo;s records pursuant to Rule&nbsp;433(g)&nbsp;under
the Securities Act Regulations.</P>

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

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;<B><U>Rule&nbsp;164</U></B>,&rdquo;
 &ldquo;<B><U>Rule&nbsp;172</U></B>,&rdquo; &ldquo;<B><U>Rule&nbsp;405</U></B>,&rdquo; &ldquo;<B><U>Rule&nbsp;415</U></B>,&rdquo;
 &ldquo;<B><U>Rule&nbsp;424</U></B>,&rdquo; &ldquo;<B><U>Rule&nbsp;424(b)</U></B>,&rdquo; &ldquo;<B><U>Rule&nbsp;430B</U></B>,&rdquo;
and &ldquo;<B><U>Rule&nbsp;433</U></B>&rdquo; refer to such rules&nbsp;under the Securities Act Regulations.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All references in this
Agreement to financial statements and schedules and other information that is &ldquo;contained,&rdquo; &ldquo;included&rdquo; or
 &ldquo;stated&rdquo; in the Registration Statement or the Prospectus (and all other references of like import) shall be deemed
to mean and include all such financial statements and schedules and other information that is incorporated by reference in the
Registration Statement or the Prospectus, as the case may be.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All references in this
Agreement to the Registration Statement, the Prospectus or any amendment or supplement to any of the foregoing shall be deemed
to include the copy filed with the Commission pursuant to EDGAR; all references in this Agreement to any Issuer Free Writing Prospectus
(other than any Issuer Free Writing Prospectuses that, pursuant to Rule&nbsp;433, are not required to be filed with the Commission)
shall be deemed to include the copy thereof filed with the Commission pursuant to EDGAR; and all references in this Agreement to
 &ldquo;supplements&rdquo; to the Prospectus shall include, without limitation, any supplements, &ldquo;wrappers&rdquo; or similar
materials prepared in connection with any offering, sale or private placement of any Placement Shares by the Agent outside of the
United States.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the foregoing correctly
sets forth the understanding between the Company and the Agent, please so indicate in the space provided below for that purpose,
whereupon this letter shall constitute a binding agreement between the Company and the Agent.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">CLEARSIGN TECHNOLOGIES CORPORATION</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Colin J. Deller</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 4%; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 5%; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 41%; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Colin J. Deller</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt"><FONT STYLE="font-size: 10pt">ACCEPTED as of the date first-above written:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">VIRTU AMERICAS LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.75pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.75pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Jeffrey Lumby</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Jeffrey Lumby</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 5.75pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.75pt; text-align: justify"><FONT STYLE="font-size: 10pt">Managing Director &ndash; Head of Virtu Capital Markets</FONT></TD></TR>
</TABLE>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 1</B></P>

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

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; width: 15%"><FONT STYLE="font-size: 10pt">From:</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-size: 10pt">ClearSign Technologies Corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">To:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Virtu Americas LLC </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Attention:&nbsp;&nbsp;[&bull;]</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Subject:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Placement Notice</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in"><FONT STYLE="font-size: 10pt">Date:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">[&bull;], 20[&bull;]</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the terms
and subject to the conditions contained in the Sales Agreement between ClearSign Technologies Corporation, a Washington corporation
(the &ldquo;<B><U>Company</U></B>&rdquo;), and Virtu Americas LLC (the &ldquo;<B><U>Agent</U></B>&rdquo;), dated December&nbsp;23,
2020, the Company hereby requests that the Agent sell up to [&bull;] of the Company&rsquo;s common stock, par value $0.0001 per
share, at a minimum market price of $[&bull;] per share, during the time period beginning [month, day, time] and ending [month,
day, time].</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 2</B></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company shall pay
to the Agent in cash, upon each sale of Placement Shares pursuant to this Agreement, an amount equal to up to 3.0% of the aggregate
gross proceeds from each sale of Placement Shares.</P>

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

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 3</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ATM@Virtu.com</P>

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 4</B></P>

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

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

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

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

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Incorporated by reference to Exhibit&nbsp;21 of the Company&rsquo;s
most recently filed Form&nbsp;10-K.</P>




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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Exhibit&nbsp;21</U></B></P>

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

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

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

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

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

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

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>tm2039262d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">
<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&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="border-bottom: Black 1pt solid; font-size: 10pt"><IMG SRC="tm2039262d1_ex5-1img001.jpg" ALT=""></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">
        <P STYLE="font: small-caps 14pt Times New Roman, Times, Serif; margin: 0pt 0">Mitchell Silberberg <FONT STYLE="font-family: Times New Roman, Times, Serif">&amp;</FONT>
        Knupp llp</P>
        <P STYLE="font: small-caps 10pt Times New Roman, Times, Serif; margin: 0pt 0">A Law Partnership Including Professional Corporations</P></TD>
    <TD STYLE="width: 49%; padding-right: 2.15pt; padding-left: 2.15pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">December 23, 2020</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">12870 Interurban Avenue South</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">Seattle, Washington 98168</P>

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


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We deliver this opinion with respect to
certain matters in connection with the sale by ClearSign Technologies Corporation, a Washington corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
through Virtu Americas LLC, as the sales agent (the &ldquo;<B><I>Sales Agent</I></B>&rdquo;), from time to time of shares of the
Company&rsquo;s common stock (&ldquo;<B><I>Common Stock</I></B>&rdquo;), par value $0.0001 per share (the &ldquo;<B><I>Placement
Shares</I></B>&rdquo;), having an aggregate maximum offering price of up to $15,000,000, pursuant to that certain At-the-Market
Sales Agreement, dated as of December 23, 2020 (the &ldquo;<B><I>Sales Agreement</I></B>&rdquo;), by and between the Company and
the Sales Agent. The Placement Shares were registered pursuant to the Registration Statement on Form S-3 (File No. 333-232402)
filed by the Company with the Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;) on June 27, 2019
(the &ldquo;<B><I>Registration Statement</I></B>&rdquo;) under the Securities Act of 1933, as amended (the &ldquo;<B><I>Securities
Act</I></B>&rdquo;), declared effective on July 12, 2019, including the prospectus dated July 12, 2019 included therein (the &ldquo;<B><I>Base
Prospectus</I></B>&rdquo;), and as supplemented by the prospectus supplement dated December 23, 2020, which was filed with the
Commission pursuant to Rule 424(b) under the Securities Act (the &ldquo;<B><I>Prospectus Supplement</I></B>&rdquo; and, together
with the Base Prospectus, the &ldquo;<B><I>Prospectus</I></B>&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">We have examined and
relied upon such records, documents, certificates and other instruments as in our judgment are necessary or appropriate to enable
us to render the opinions expressed below.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The opinions expressed herein are limited
solely to currently applicable federal securities laws of the United States and otherwise are based on our review of the Washington
Business Corporation Act. We express no opinion as to the effect on the matters covered by this letter of the laws of any other
jurisdiction. This opinion is limited to the specific issues addressed herein, and no opinion may be inferred or implied beyond
that expressly stated herein. This opinion speaks only as of the date hereof and we assume no obligation to revise or supplement
this opinion.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We assume the legal capacity of all natural
persons, the genuineness of all signatures appearing on the documents examined by us, the authenticity and completeness of all
documents submitted to us as originals, and the conformity to the originals of all documents submitted to us as certified, notarized,
conformed or photostatic copies, or facsimiles. With respect to all matters of fact we have relied entirely upon the representations
of the parties set forth in the documents we reviewed, and representations and certifications of officers of the Company we may
obtain from the Company, and have assumed, with your permission and without independent inquiry or investigation, the accuracy
of those representations and certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: bottom">
    <TD STYLE="width: 30%; border-top: Black 1pt solid; padding-top: 1.45pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; width: 70%; padding-top: 1.45pt; text-align: right; font-size: 10pt">437 Madison Ave., 25th Floor, New York, New York 10022-7001<BR>
Phone:&nbsp;&nbsp;(212) 509-3900&nbsp;&nbsp;Fax:&nbsp;&nbsp;(212) 509-7239&nbsp;&nbsp;Website: <FONT STYLE="font-variant: small-caps; text-transform: none">www.msk.com</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>

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

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

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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 STYLE="width: 100%; border-bottom: Black 1pt solid; font-size: 10pt"><IMG SRC="tm2039262d1_ex5-1img001.jpg" ALT=""></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">December 23, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</P>

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

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">When an opinion or other statement set forth
herein is given to our knowledge, with reference to matters of which we are aware or that are known to us, or with a similar qualification,
the relevant knowledge or awareness is limited to the actual knowledge or awareness of the individual lawyers in this firm who
have participated directly in the specific transactions to which this opinion letter relates.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to the limitations set forth herein,
we have made such examination of law as we have deemed necessary for the purposes of this opinion letter. We express no opinion
as to the &ldquo;blue sky&rdquo; laws and regulations of any jurisdiction.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based upon, and subject to, the foregoing,
it is our opinion that the Placement Shares, when issued, sold and delivered in the manner and for the consideration stated in
the Registration Statement and the Prospectus, and in accordance with the resolutions adopted by the Company&rsquo;s board of directors
or a committee thereof, will be validly issued, fully paid and non-assessable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We consent to the use of this opinion as
an exhibit to the Current Report on Form 8-K to be filed by the Company with the Commission in connection with the offering of
the Placement Shares and further consent to all references to us, if any, in the Registration Statement, the Prospectus and any
amendments or supplements thereto. We do not thereby admit that we are within the category of persons whose consent is required
under Section 7 of the Securities Act or the rules and regulations of the Commission promulgated thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This opinion is intended solely for use
in connection with the issuance and sale of the Placement Shares subject to the Registration Statement and is not to be relied
upon for any other purpose.</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">Very truly yours,</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">/s/ Mitchell Silberberg &amp;
    Knupp LLP</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">MITCHELL SILBERBERG &amp; KNUPP
    LLP</FONT></TD></TR>
</TABLE>


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

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

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