<SEC-DOCUMENT>0001140361-19-017014.txt : 20190920
<SEC-HEADER>0001140361-19-017014.hdr.sgml : 20190920
<ACCEPTANCE-DATETIME>20190920083515
ACCESSION NUMBER:		0001140361-19-017014
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20190919
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190920
DATE AS OF CHANGE:		20190920

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERI Holdings, Inc.
		CENTRAL INDEX KEY:			0000890821
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				954484725
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38286
		FILM NUMBER:		191102715

	BUSINESS ADDRESS:	
		STREET 1:		5000 RESEARCH COURT, SUITE 750
		CITY:			SUWANEE
		STATE:			GA
		ZIP:			30024
		BUSINESS PHONE:		770-935-4152

	MAIL ADDRESS:	
		STREET 1:		5000 RESEARCH COURT, SUITE 750
		CITY:			SUWANEE
		STATE:			GA
		ZIP:			30024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SPATIALIZER AUDIO LABORATORIES INC
		DATE OF NAME CHANGE:	19950323
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k.htm
<DESCRIPTION>8-K
<TEXT>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">UNITED STATES</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">FORM 8-K</div>
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        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">CURRENT REPORT</div>
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</div>
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        <div style="text-align: center; color: rgb(0, 0, 0);">Date of Report (Date of Earliest Event Reported): <u>September 19, 2019</u></div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">Ameri Holdings, Inc.</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(Exact name of registrant as specified in its charter)</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">Delaware</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">001-38286</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">95-4484725</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(State or Other Jurisdiction of Incorporation)</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(Commission File Number)</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(IRS Employer Identification No.)</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">5000 Research Court, Suite 750, Suwanee, Georgia</div>
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            <td style="width: 2.04%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="text-align: center; color: rgb(0, 0, 0);">30024</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(Address of Principal Executive Offices)</div>
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            <td style="width: 2.04%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(Zip Code)</div>
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        <div style="text-align: center; color: rgb(0, 0, 0);">Registrant&#8217;s Telephone Number, Including Area Code: <u>(770) 935-4152</u></div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">(Former Name or Former Address, If Changed Since Last Report)</div>
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        <div style="text-align: center; color: rgb(0, 0, 0);">Securities registered pursuant to Section 12(b) of the Act:</div>
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              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Title of Each Class</div>
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              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Trading Symbol</div>
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              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Name of Each Exchange on Which Registered</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">Common Stock $0.01 par value per share</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">AMRH</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">The NASDAQ Stock Market LLC</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">Warrants to Purchase Common Stock</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">AMRHW</div>
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              <div style="text-align: center; color: rgb(0, 0, 0);">The NASDAQ Stock Market LLC</div>
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        <div style="color: #000000;">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 (<font style="font-style: italic;">see</font>
          General Instruction A.2. below):</div>
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                  <div style="color: rgb(0, 0, 0);">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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                  <div style="color: rgb(0, 0, 0);">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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                  <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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                  <div style="color: rgb(0, 0, 0);">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
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        <div style="color: #000000;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
          (&#167;240.12b-2 of this chapter).</div>
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        <div style="text-align: right; color: rgb(0, 0, 0);">Emerging growth company &#9746;<font style="font-family: 'Segoe UI Symbol',sans-serif;"></font></div>
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        <div style="color: #000000;">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. &#9744;</div>
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                <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 1.01.</td>
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                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Entry into a Material Definitive Agreement.</div>
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      <div style="text-indent: 24.5pt;"><br>
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      <div style="text-align: justify; color: #000000; font-style: italic;">Background</div>
      <div style="text-align: justify;"><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt; color: #000000;">On July 25, 2018, Ameri Holdings, Inc. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;) entered into a securities purchase agreement (the &#8220;<font style="font-weight: bold;">SPA</font>&#8221;)




        with certain purchasers (the &#8220;<font style="font-weight: bold;">Purchasers</font>&#8221;), whereby the Company, among other things, issued to the Purchasers warrants (the &#8220;<font style="font-weight: bold;">Purchaser Warrants</font>&#8221;) to purchase shares of
        the Company&#8217;s common stock (&#8220;<font style="font-weight: bold;">Common Stock</font>&#8221;). Prior to the Exchange (as defined below), 15,744,827 Purchaser Warrants were outstanding.</div>
      <div style="text-align: justify; text-indent: 24.5pt;"><br>
      </div>
      <div style="text-align: justify; color: #000000; font-style: italic;">Amendment and<a name="T0"></a> Exchange Agreement</div>
      <div><br>
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      <div style="text-align: justify; text-indent: 18pt; color: #000000;">On September 19, 2019, the Company and each of the Purchasers entered into seperate amendment and exchange agreements (the <a name="T2"></a>&#8220;<font style="font-weight: bold;">Exchange




          Agreements</font>&#8221;), pursuant to which the Company agreed to issue to the Purchasers an aggregate of 10,234,136 shares of Common Stock (the &#8220;<font style="font-weight: bold;">Exchange Shares</font>&#8221;) in exchange for the cancellation and
        termination of all of the outstanding Purchaser Warrants (the &#8220;<font style="font-weight: bold;">Exchange</font>&#8221;).</div>
      <div style="text-align: justify; text-indent: 24.5pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt; color: #000000;">The Company also agreed to grant to the Purchasers certain participation rights in future financings for a period of twelve (12) months.</div>
      <div style="text-align: justify; text-indent: 24.5pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt; color: #000000;">A copy of the form of the Exchange Agreement is attached hereto as Exhibit 10.1 and is incorporated herein by reference.</div>
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                <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 3.02</td>
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                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Unregistered Sales of Equity Securities.</div>
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      <div style="text-indent: 24.5pt;"><br>
      </div>
      <div style="text-align: justify; text-indent: 18pt; color: #000000;">On September 19, 2019, pursuant to the Exchange Agreements described in Item 1.01 of this Current Report on Form 8-K, the Company issued the Exchange Shares to the Purchasers in
        exchange for the Purchaser Warrants. The exchange of the Exchange Shares for the Purchaser Warrants was made in reliance upon the exemption from registration provided by Section<a name="T7"></a><a name="T8"></a><a name="T9"></a> 3(a)(9) of the
        Securities Act of 1933, as amended.</div>
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                  <div><font style="font-weight: bold;">Item 8.01</font></div>
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                  <div><font style="font-weight: bold;">Other Events</font></div>
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        <div style="text-indent: 18pt;">On September 20, 2019, the Company issued a press release announcing the Exchange. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K.<br>
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                <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;">Item 9.01.</td>
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                  <div style="color: rgb(0, 0, 0); font-weight: bold;">Financial Statements and Exhibits.</div>
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                <td style="width: 36pt; vertical-align: top; align: right;">(d)</td>
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                  <div>Exhibits</div>
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              <div style="font-weight: bold;">Exhibit </div>
              <div style="font-weight: bold;">No.</div>
            </td>
            <td style="width: 1.01%; vertical-align: top;">&#160;</td>
            <td style="width: 93%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; font-weight: bold;">Description</div>
            </td>
          </tr>
          <tr>
            <td style="width: 6%; vertical-align: top;">
              <div><a href="ex10_1.htm">10.1</a></div>
            </td>
            <td style="width: 1.01%; vertical-align: top;">&#160;</td>
            <td style="width: 93%; vertical-align: top;">
              <div style="text-align: justify;">Form of Exchange Agreement</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 6%; vertical-align: top;"><a href="ex99_1.htm">99.1<br>
              </a> </td>
            <td rowspan="1" style="width: 1.01%; vertical-align: top;">&#160;</td>
            <td rowspan="1" style="width: 93%; vertical-align: top;">Press Release <br>
            </td>
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      <div style="background-color: #FFFFFF;">
        <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">SIGNATURE</div>
        <div>&#160;</div>
      </div>
      <div style="background-color: #FFFFFF;">
        <div style="text-align: justify; text-indent: 36pt; color: #000000;">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.</div>
        <div>&#160;</div>
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          <tr>
            <td style="width: 50%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">September 20, 2019</div>
            </td>
            <td colspan="2" style="vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">AMERI HOLDINGS, INC.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 47%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">By:</div>
            </td>
            <td style="width: 47%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="color: rgb(0, 0, 0);">/s/ Barry Kostiner</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 47%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Name: Barry Kostiner</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
            <td style="width: 47%; vertical-align: top; background-color: rgb(255, 255, 255);">
              <div style="color: rgb(0, 0, 0);">Title: Chief Financial Officer</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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      <div>
        <div style="text-align: right; font-weight: bold;"> Exhibit 10.1<br>
        </div>
        <div style="text-align: right; font-weight: bold;"> <br>
        </div>
        <div style="text-align: right; font-weight: bold;">EXECUTION COPY</div>
      </div>
      <div>&#160;</div>
      <div style="text-align: center; font-weight: bold;">AMENDMENT AND EXCHANGE AGREEMENT</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">This Amendment and Exchange Agreement (the &#8220;<font style="font-weight: bold;">Agreement</font>&#8221;) is entered into as of the ___ day of September, 2019, by and among AMERI Holdings, Inc., a Delaware
        corporation (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;), and the undersigned holder of the Existing Warrant (as defined below) (the &#8220;<font style="font-weight: bold;">Holder</font>&#8221;), with reference to the following facts:</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">A.&#160; Pursuant to that certain Securities Purchase Agreement, dated as of July 25, 2018 (as amended prior to the date hereof, the &#8220;<font style="font-weight: bold;">Securities Purchase Agreement</font>&#8221;),

        by and among the Company and the investors signatory thereto (the &#8220;<font style="font-weight: bold;">Purchasers</font>&#8221;), the Company, among other things, issued to the Holder (in its capacity as an Purchaser thereunder), a warrant to purchase
        Common Stock (as defined in the Securities Purchase Agreement) initially exercisable into such aggregate number of shares of Common Stock as set forth on the signature page of the holder attached hereto (the &#8220;<font style="font-weight: bold;">Existing

          Warrant</font>&#8221;);</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">B.&#160; The Company has duly authorized the issuance to the Holder, in exchange for the Existing Warrant, such aggregate number of shares of Common Stock as set forth on the signature page of the
        Holder attached hereto (the &#8220;<font style="font-weight: bold;">Exchange Shares</font>&#8221;) which number represents 65% of the shares of Common Stock issuable upon a cash exercise of the Existing Warrant;</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">C.&#160; Each of the Company and the Holder desire to effectuate such exchange on the basis and subject to the terms and conditions set forth in this Agreement;</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">D.&#160; The exchange of the Existing Warrant for the Exchange Shares is being made in reliance upon the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended
        (the &#8220;<font style="font-weight: bold;">Securities Act</font>&#8221;);</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">E.&#160; Concurrently herewith, the Company is separately negotiating, and intends to implement, the exchange of warrants to purchase Common Stock issued pursuant to the Securities Purchase Agreement
        (the &#8220;<font style="font-weight: bold;">Other Warrants</font>&#8221;) that are currently outstanding and held by other Purchasers (the &#8220;<font style="font-weight: bold;">Other Holders</font>&#8221;) into shares of Common Stock (the &#8220;<font style="font-weight: bold;">Other Exchange Shares</font>&#8221;) by entering into agreements (the &#8220;<font style="font-weight: bold;">Other Agreements</font>&#8221;) in the same form as this Agreement (other than proportional changes based upon the difference in aggregate number
        of shares of Common Stock issuable upon exercise of Other Warrants outstanding and the payment of legal expenses with respect hereto); and</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">F. &#160; Capitalized terms used but not otherwise defined herein shall have the meaning as set forth in the Securities Purchase Agreement (as amended hereby).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:</div>
      <div>&#160;</div>
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      <div style="text-align: justify; text-indent: 36pt;">1.&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="font-weight: bold;"><u>Exchange; Participation Rights</u></font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">(a)&#160;&#160;&#160; &#160;&#160;&#160; <u>Exchange of Securities</u>.&#160; On the Effective Date (as defined below), pursuant to Section 3(a)(9) of the Securities Act, the Holder hereby agrees to convey, assign and transfer the
        Existing Warrant to the Company in exchange for which the Company agrees to issue the Exchange Shares to the Holder by deposit/withdrawal at custodian in accordance with the DWAC instructions on the signature page of the Holder, which Exchange
        Shares shall be issued without restricted legend and shall be freely tradable by the Holder (the &#8220;<font style="font-weight: bold;">Exchange</font>&#8221;).&#160; As soon as commercially practicable following the Effective Date, the Holder shall deliver or
        cause to be delivered to the Company (or its assignee) the Existing Warrant (or affidavit of lost warrant, in form provided upon request by the Company and reasonably acceptable to the Holder).&#160; Immediately following the delivery of the Exchange
        Shares to the Holder (or its assignee), the Holder hereby relinquishes all rights, title and interest in the Existing Warrant (including any claims the Holder may have against the Company related thereto) and assigns the same to the Company and the
        Existing Warrant shall be cancelled.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Participation Rights</u>.&#160; <a name="z_Ref193274794"></a>At any time on or prior to the eighteen (18) month anniversary of the date hereof, neither the Company nor any of its
        Subsidiaries shall, directly or indirectly, effect any Subsequent Placement (as defined below) or execute any documents with respect to (or otherwise consummate) any Acquisition Transaction (as defined below) that contemplates a Counterparty
        Subsequent Placement (as defined below), in either case, unless the Company shall have first complied with this <a name="DocXTextRef23"></a>Section 1(b).&#160; The Company acknowledges and agrees that the right set forth in this <a name="DocXTextRef24"></a>Section 1(b) is a right granted by the Company, separately, to the Holder and each Other Holder (collectively, the &#8220;<font style="font-weight: bold;">Holders</font>&#8221;).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>General</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Private Subsequent Placements</u>. At least two (2) Business Days prior to any proposed or intended Subsequent Placement (other than a Registered Subsequent
        Placement (as defined below)), the Company shall deliver to each Holder a written notice (each such notice, a &#8220;<font style="font-weight: bold;">Pre-Notice</font>&#8221;), which Pre-Notice shall not contain any information (including, without limitation,
        material, non-public information) other than:&#160; (A) if the proposed Offer Notice (as defined below) constitutes or contains material, non-public information, a statement asking whether such Holder is willing to accept material non-public information
        or (B) if the proposed Offer Notice does not constitute or contain material, non-public information, (x) a statement that the Company (or Acquisition Counterparty, as applicable) proposes or intends to effect a Subsequent Placement, (y) a statement
        that the statement in clause (x) above does not constitute material, non-public information and (z) a statement informing such Holder that it is entitled to receive an Offer Notice (as defined below) with respect to such Subsequent Placement upon
        its written request.&#160; Upon the written request of a Holder within two (2) Business Days after the Company&#8217;s delivery to such Holder of such Pre-Notice, and only upon a written request by such Holder, the Company shall promptly, but no later than
        one (1) Business Day after such request, deliver to such Holder an irrevocable written notice (the &#8220;<font style="font-weight: bold;">Offer Notice</font>&#8221;) of any proposed or intended issuance or sale or exchange (the &#8220;<font style="font-weight: bold;">Offer</font>&#8221;) of the securities being offered (the &#8220;<font style="font-weight: bold;">Offered Securities</font>&#8221;) in a Subsequent Placement, which Offer Notice shall (A) identify and describe the Offered Securities, (B) describe the price
        and other terms upon which they are to be issued, sold or exchanged, and the number or amount of the Offered Securities to be issued, sold or exchanged, (C) identify the Persons (if known) to which or with which the Offered Securities are to be
        offered, issued, sold or exchanged and (D) offer to issue and sell to or exchange with such Holder in accordance with the terms of the Offer such Holder&#8217;s pro rata portion of 100% of the Offered Securities (which pro rata amount is [&#160;&#160; ]% for the
        Holder), provided that the number of Offered Securities which such Holder shall have the right to subscribe for under this Section 1(b) shall be (x) based on such Holder&#8217;s pro rata portion of the shares of Common Stock issued in the Exchange
        hereunder and pursuant to each Other Agreement (the &#8220;<font style="font-weight: bold;">Basic Amount</font>&#8221;), and (y) with respect to each Holder that elects to purchase its Basic Amount, any additional portion of the Offered Securities attributable
        to the Basic Amounts of Other Holders as such Holder shall indicate it will purchase or acquire should the Other Holders subscribe for less than their Basic Amounts (the &#8220;<font style="font-weight: bold;">Undersubscription Amount</font>&#8221;), which
        process shall be repeated until each Holder shall have an opportunity to subscribe for any remaining Undersubscription Amount.</div>
      <div>&#160;</div>
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      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(2)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Registered Subsequent Placements</u>.&#160; Between the time period of 4:00 pm (New York City time) and 6:00 pm (New York City time) on the Trading Day immediately
        prior to the Trading Day of the expected announcement of a Subsequent Placement of an offering of securities of the Company to be issued all, or primarily, pursuant to a registration statement filed with the Securities and Exchange Commission
        (each, a &#8220;<font style="font-weight: bold;">Registered Subsequent Placement</font>&#8221;) (or, if the Trading Day of the expected announcement of the Subsequent Placement is the first Trading Day following a holiday or a weekend (including a holiday
        weekend), between the time period of 4:00 pm (New York City time) on the Trading Day immediately prior to such holiday or weekend and 2:00 pm (New York City time) on the day immediately prior to the Trading Day of the expected announcement of the
        Subsequent Placement), the Company shall deliver to each Holder an Offer Notice with respect to such Registered Subsequent Placement.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(3)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Lead Investor; Replacement Requirement</u>; Notwithstanding anything herein to the contrary, if a bona fide third party investor (other than a Holder) investing
        for its own account (without acting as an underwriter in any manner) (the &#8220;<font style="font-weight: bold;">Lead Investor</font>&#8221;) commits in writing (subject to the satisfaction of customary closing conditions) to acquire at least 50% of the
        Offered Securities (such aggregate portion of the Offered Securities, each, a &#8220;<font style="font-weight: bold;">Proposed Lead Investor Amount</font>&#8221;) with the additional requirement that no Holders participate in such Subsequent Placement (any
        such occurrence, a &#8220;<font style="font-weight: bold;">Replacement Requirement</font>&#8221;), the applicable Offer Notice shall certify that a Replacement Requirement exists (and attaching thereto documentation of such written commitment by such Lead
        Investor) and specify that for the Holder to be permitted to exercise its participation rights under this Section 1(b) with respect to such Subsequent Placement that the Holders (together with any Permitted Assignee(s)) must, in the aggregate,
        replace the Lead Investor&#8217;s commitment by subscribing for at least the Proposed Lead Investor Amount of Offered Securities in such Subsequent Placement.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
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      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice of Acceptance; Undersubscription Rights</u>.&#160; To accept an Offer, in whole or in part, such Holder must deliver a written notice to the Company prior to
        the end of the later of (A) the second (2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>) Business Day after such Holder&#8217;s receipt of the Offer Notice (or, with respect to any Registered Subsequent Placement 6:30 am (New York City time) on the Trading Day following the date on
        which the Offer Notice is delivered to such Holder) (as applicable, the &#8220;<font style="font-weight: bold;">Scheduled Offer Period End Time</font>&#8221;) and (B) twenty-four hours after the time of delivery by the Company to the Holder of an applicable
        Replacement Deficiency Notice (as applicable, the &#8220;<font style="font-weight: bold;">Offer Period</font>&#8221;), setting forth the portion of such Holder&#8217;s Basic Amount that such Holder elects to purchase and, if such Holder shall elect to purchase all
        of its Basic Amount, the Undersubscription Amount, if any, that such Holder elects to purchase (in either case, the &#8220;<font style="font-weight: bold;">Notice of Acceptance</font>&#8221;).&#160; If the Basic Amounts subscribed for by all Holders are less than
        the total of all of the Basic Amounts, then each Holder who has set forth an Undersubscription Amount in its Notice of Acceptance shall be entitled to purchase, in addition to the Basic Amounts subscribed for, the Undersubscription Amount it has
        subscribed for; provided, however, if the Undersubscription Amounts subscribed for exceed the difference between the total of all the Basic Amounts and the Basic Amounts subscribed for (the &#8220;<font style="font-weight: bold;">Available
          Undersubscription Amount</font>&#8221;), each Holder who has subscribed for any Undersubscription Amount shall be entitled to purchase only that portion of the Available Undersubscription Amount as the Basic Amount of such Holder bears to the total
        Basic Amounts of all Holders that have subscribed for Undersubscription Amounts, subject to rounding by the Company to the extent it deems reasonably necessary.&#160; Notwithstanding the foregoing, if the Company (or Acquisition Counterparty, as
        applicable) desires to modify or amend the terms and conditions of the Offer prior to the expiration of the Offer Period, the Company may deliver to each Holder a new Offer Notice and the Offer Period shall expire on the second (2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>)
        Business Day after such Holder&#8217;s receipt of such new Offer Notice</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160; <u>Mechanics of Replacement; Permitted Assignees</u>.&#160; If an Replacement Requirement exists for the applicable Subsequent Placement and the Holders (together with
        any Permitted Assignee(s)), in the aggregate (after giving effect to any subscriptions of Undersubscription Amounts), fail to subscribe for at least Proposed Lead Investor Amount (each, an &#8220;<font style="font-weight: bold;">Replacement Deficiency</font>&#8221;),

        the Company shall, as soon as practicable, but in no event later than one hour after the applicable Scheduled Offer Period End Time, deliver a written notice to each Holder specifying that (x) the Replacement Requirement has not been met and (y)
        the required additional subscriptions necessary to reach the Proposed Lead Investor Amount (each, a &#8220;<font style="font-weight: bold;">Replacement Deficiency Notice</font>&#8221;).&#160; If the Company fails to timely deliver a Replacement Deficiency Notice to
        each of the Holders in accordance herewith, the Company shall automatically be deemed to have waived such Replacement Deficiency and such Replacement Deficiency shall no longer be deemed to exist for such Subsequent Placement hereunder.&#160; If an
        Replacement Deficiency exists, each Holder shall have the right to assign to any Person (each, a &#8220;<font style="font-weight: bold;">Participation Assignment</font>&#8221;, and any such Person, a &#8220;<font style="font-weight: bold;">Permitted Assignee</font>&#8221;),

        in whole or in part, any of such Holder&#8217;s rights hereunder with respect to all, or any part, of any Basic Amount or Undersubscription Amount, as applicable, solely with respect to such Subsequent Placement, as necessary to cause the Holders
        (together with such Permitted Assignee(s)), in the aggregate, to satisfy the applicable Replacement Requirement; provided, that in addition to such Participation Assignment, any Person desiring to be a Permitted Assignee must also deliver a Notice
        of Acceptance to the Company with respect to such Subsequent Placement during the applicable Offer Period to become a Permitted Assignee hereunder for such Subsequent Placement.&#160; For the avoidance of doubt, (A) solely to the extent no Replacement
        Deficiency exists with respect to the applicable Subsequent Placement at the end of the applicable Offer Period, each Permitted Assignee of the Holder shall have all the rights of the Holder under this Section 1(b) transferred pursuant to such
        Participation Assignments with respect to such Subsequent Placement as if such Permitted Assignee was the &#8220;Holder&#8221; hereunder with respect thereto, (B) any Participation Assignment by the Holder shall apply solely to the Subsequent Placement in
        which such Participation Assignment is made and not with respect to any other Subsequent Placement and (C) any Participation Assignment by the Holder shall apply solely with respect to such Basic Amount and/or Undersubscription Amount, as
        applicable, assigned in such Participation Assignment and not with respect to any Basic Amount and/or Undersubscription Amount retained by the Holder with respect to such Subsequent Placement.&#160; Notwithstanding anything herein to the contrary, if by
        the end of the applicable Offer Period an Replacement Deficiency still exists and the Company (or Acquisition Counterparty, as applicable) does not modify or amend the terms and conditions of the Offer, the Company (or Acquisition Counterparty, as
        applicable) shall have no further obligation hereunder to sell all, or any part, of the Offered Securities to the Holders with respect to such Subsequent Placement.&#160; The Company hereby acknowledges and agrees that the Holder may discuss
        confidential matters with respect to the proposed Subsequent Placement with potential Permitted Assignees without violating the terms or conditions of any confidentiality agreement by and between the Company (and/or its agents) and the Holder then
        in effect.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
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      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160; <u>Refused Securities</u>.&#160; The Company (or Acquisition Counterparty, as applicable) shall have two (2) Business Days from the expiration of the Offer Period above
        (A) to offer, issue, sell or exchange all or any part of such Offered Securities as to which a Notice of Acceptance has not been given by a Holder (the &#8220;<font style="font-weight: bold;">Refused Securities</font>&#8221;) pursuant to a definitive
        agreement(s) (the &#8220;<font style="font-weight: bold;">Subsequent Placement Agreement</font>&#8221;), but only to the offerees described in the Offer Notice (if so described therein) and only upon terms and conditions (including, without limitation, unit
        prices and interest rates) that are not more favorable to the acquiring Person or Persons or less favorable to the Company than those set forth in the Offer Notice and (B) to publicly announce (x) the execution of such Subsequent Placement
        Agreement, and (y) either (I) the consummation of the transactions contemplated by such Subsequent Placement Agreement or (II) the termination of such Subsequent Placement Agreement, which shall be filed with the Securities and Exchange Commission
        (the &#8220;<font style="font-weight: bold;">SEC</font>&#8221;) on a Current Report on Form 8-K with such Subsequent Placement Agreement and any documents contemplated therein filed as exhibits thereto.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;"><a name="z_Ref335968398"></a>(v)&#160;&#160; &#160; &#160;&#160;&#160; <u>Offering Size Reductions</u>.&#160; In the event the Company (or Acquisition Counterparty, as applicable) shall propose to sell less than
        all the Refused Securities (any such sale to be in the manner and on the terms specified in <a name="DocXTextRef26"></a>Section 1(b)(iv) above), then each Holder may, at its sole option and in its sole discretion, withdraw its Notice of Acceptance
        or reduce the number or amount of the Offered Securities specified in its Notice of Acceptance to an amount that shall be not less than the number or amount of the Offered Securities that such Holder elected to purchase pursuant to <a name="DocXTextRef27"></a>Section 1(b)(iii) above multiplied by a fraction, (i) the numerator of which shall be the number or amount of Offered Securities the Company (or Acquisition Counterparty, as applicable) actually proposes to issue, sell or
        exchange (including Offered Securities to be issued or sold to Holders pursuant to this <a name="DocXTextRef29"></a>Section 1(b) prior to such reduction) and (ii) the denominator of which shall be the original amount of the Offered Securities.&#160; In
        the event that any Holder so elects to reduce the number or amount of Offered Securities specified in its Notice of Acceptance, the Company (or Acquisition Counterparty, as applicable) may not issue, sell or exchange more than the reduced number or
        amount of the Offered Securities unless and until such securities have again been offered to the Holders in accordance with <a name="DocXTextRef28"></a>Section 1(b)(ii) above.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;">(vi)&#160;&#160;&#160;&#160;&#160; <u>Closing; Definitive Documents</u>.&#160; Upon the closing of the issuance, sale or exchange of all or less than all of the Refused Securities, such Holder shall acquire
        from the Company (or Acquisition Counterparty, as applicable), and the Company (or Acquisition Counterparty, as applicable) shall issue to such Holder, the number or amount of Offered Securities specified in its Notice of Acceptance, as reduced
        pursuant to Section 1(b)(v) above if such Holder has so elected, upon the terms and conditions specified in the Offer.&#160; The purchase by such Holder of any Offered Securities is subject in all cases to the preparation, execution and delivery by the
        Company (or Acquisition Counterparty, as applicable) and such Holder of a separate purchase agreement relating to such Offered Securities reasonably satisfactory in form and substance to such Holder and its counsel.</div>
      <div style="margin-left: 36pt;">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;"><a name="z_Ref335968400"></a>(vii)&#160;&#160;&#160;&#160;&#160; <u>Reoffering of Securities</u>.&#160; Any Offered Securities not acquired by a Holder or other Persons in accordance with this <a name="DocXTextRef30"></a>Section 1(b) may not be issued, sold or exchanged until they are again offered to such Holder under the procedures specified in this Agreement.</div>
      <div style="margin-left: 36pt;">&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;"><a name="z_Ref335968401"></a>(viii)&#160;&#160;&#160;&#160; <u>No Trading Restrictions</u>.&#160; The Company and each Holder agree that if any Holder elects to participate in the Offer, neither the
        Subsequent Placement Agreement with respect to such Offer nor any other transaction documents related thereto (collectively, the &#8220;<font style="font-weight: bold;">Subsequent Placement Documents</font>&#8221;) shall include any term or provision whereby
        such Holder shall be required to agree to any restrictions on trading as to any securities of the Company or any other Person&#160; or be required to consent to any amendment to or termination of, or grant any waiver, release or the like under or in
        connection with, any agreement previously entered into with the Company or any other Person or any instrument received from the Company or any other Person.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><a name="z_Ref193275023"></a>(ix)&#160;&#160;&#160;&#160;&#160;&#160; <u>Abandonment; Cleansing of Material Non-Public Information</u>.&#160; Notwithstanding anything to the contrary in this <a name="DocXTextRef32"></a>Section 1(b) and unless otherwise agreed to by such Holder, the Company shall either confirm in writing to such Holder that the transaction with respect to the Subsequent Placement has been abandoned or shall publicly
        disclose its intention to issue the Offered Securities, in either case, in such a manner such that such Holder will not be in possession of any material, non-public information, by the second (2nd) Business Day following delivery of the Offer
        Notice (or, with respect to any Registered Subsequent Placement by 9:30 am (New York City time) on the Trading Day following the date on which the Offer Notice is delivered to such Holder) (as applicable, the &#8220;<font style="font-weight: bold;">Cleansing

          Time</font>&#8221;).&#160; If by such Cleansing Time, no public disclosure regarding a transaction with respect to the Offered Securities has been made, and no notice regarding the abandonment of such transaction has been received by such Holder, such
        transaction shall be deemed to have been abandoned and such Holder shall not be in possession of any material, non-public information with respect to the Company or any of its Subsidiaries.&#160; Should the Company (or Acquisition Counterparty, as
        applicable) decide to pursue such transaction with respect to the Offered Securities, the Company shall provide such Holder with another Offer Notice and such Holder will again have the right of participation set forth in this <a name="DocXTextRef33"></a>Section 1(b).&#160; The Company shall not be permitted to deliver more than one such Offer Notice to such Holder in any sixty (60) day period, except as expressly contemplated by the last sentence of <a name="DocXTextRef31"></a>Section

        1(b)(iii).<a name="z_Ref335968402"></a></div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Excluded Transactions</u>.&#160; Notwithstanding the foregoing, the restrictions contained in this <a name="DocXTextRef34"></a>Section 1(b) shall not apply in
        connection with (A) shares of Common Stock or options to employees, officers or directors or consultants of the Company pursuant to any stock or option plan duly adopted for such purpose, by a majority of the non-employee members of the Board of
        Directors or a majority of the members of a committee of non-employee directors established for such purpose for services rendered to the Company or (B) securities upon the exercise or exchange of or conversion of any Common Stock Equivalents
        and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, provided that such securities have not been amended since the date of this Agreement to
        increase the number of such securities or to decrease the exercise price, exchange price or conversion price of such securities (other than in connection with stock splits or combinations) or to extend the term of such securities (collectively, the
        &#8220;<font style="font-weight: bold;">Excluded Securities</font>&#8221;). The Company shall not circumvent the provisions of this <a name="DocXTextRef35"></a>Section 1(b) by providing terms or conditions to one Holder that are not provided to all.</div>
      <div>&#160;</div>
      <div style="text-align: justify; margin-left: 36pt; text-indent: 36pt;">(xi)&#160;&#160;&#160;&#160;&#160;&#160; For purposes of this Section 1(b), &#8220;<font style="font-weight: bold;">Subsequent Placement</font>&#8221; means (A) any direct or indirect issuance, offer, sale, grant any
        option or right to purchase, or otherwise disposition of (or announcement of any issuance, offer, sale, grant of any option or right to purchase or other disposition of) by the Company or any of its Subsidiaries of any equity security or any
        equity-linked or related security (including, without limitation, any &#8220;equity security&#8221; (as that term is defined under Rule 405 promulgated under the Securities Act), any Common Stock, any Common Stock Equivalents, any debt, any preferred stock or
        any purchase rights) or (B) with respect to any acquisition, merger or other similar transaction in which the Company or any of its Subsidiaries is, directly or indirectly, a part (each, an &#8220;<font style="font-weight: bold;">Acquisition Transaction</font>&#8221;),

        any direct or indirect issuance, offer, sale, grant any option or right to purchase, or otherwise disposition of (or announcement of any issuance, offer, sale, grant of any option or right to purchase or other disposition of) by any Person (or any
        of its direct, or indirectly, affiliates or subsidiaries) (each, an &#8220;<font style="font-weight: bold;">Acquisition Counterparty</font>&#8221;) of any equity security or any equity-linked or related security (including, without limitation, any &#8220;equity
        security&#8221; (as that term is defined under Rule 405 promulgated under the Securities Act), any convertible security, any option, any debt, any preferred stock or any purchase rights) of any such Acquisition Counterparty (each, a &#8220;<font style="font-weight: bold;">Counterparty Subsequent Placement</font>&#8221;) in connection with such Acquisition Transaction (which, for the avoidance of doubt includes any such direct or indirect issuance, offer, sale, grant any option or right to
        purchase, or other such disposition, as applicable, during the period commencing three months prior to the time of execution of any agreement by and between any Acquisition Counterparty and the Company or any of its Subsidiaries through, and
        including, three months after the closing of such Acquisition Transaction).</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 72pt;">(c)&#160;&#160; &#160; &#160;&#160; <u></u><font style="font-weight: bold;"><u>Other Documents</u></font>.&#160; The Company and the Holder shall execute and/or deliver such other documents and agreements as are customary and
        reasonably necessary to effectuate the Exchange.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 72pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;"><u>Standstill</u></font>.&#160; The Company agrees that for the period commencing on the date hereof and ending on the date immediately following the 15<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>
        Business Day after the date hereof, neither the Company nor any of its Subsidiaries shall directly or indirectly:</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160; file a registration statement under the Securities Act relating to securities that are not the Exchange Shares (other than a registration statement on Form S-8 or such
        supplements or amendments to registration statements that are outstanding and have been declared effective by the SEC as of the date hereof (solely to the extent necessary to keep such registration statements effective and available and not with
        respect to any Subsequent Placement)); or</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ii)&#160;&#160;&#160; &#160;&#160; offer, announce, enter into any agreement with respect to or otherwise consummate any Subsequent Placement (other than with respect to Excluded Securities).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;">2.&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>AMENDMENTS TO TRANSACTION DOCUMENTS.</u></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160; &#160;&#160; <u>Ratifications</u>.&#160; Except as otherwise expressly provided herein, the Securities Purchase Agreement and each other Transaction Document (as defined in the
        Securities Purchase Agreement), is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the Effective Date: (i) all references in the Securities Purchase Agreement to
        &#8220;this Agreement&#8221;, &#8220;hereto&#8221;, &#8220;hereof&#8221;, &#8220;hereunder&#8221; or words of like import referring to the Securities Purchase Agreement shall mean the Securities Purchase Agreement as amended by this Agreement, and (ii) all references in the other Transaction
        Documents, to the &#8220;Securities Purchase Agreement&#8221;, &#8220;thereto&#8221;, &#8220;thereof&#8221;, &#8220;thereunder&#8221; or words of like import referring to the Securities Purchase Agreement shall mean the Securities Purchase Agreement as amended by this Agreement.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Amendments to Transaction Documents</u>.&#160; On and after the Effective Date, each of the Transaction Documents (as defined in the Securities Purchase Agreement) are
        hereby amended as follows:</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160; &#160; &#160; &#160;&#160;&#160; The defined term &#8220;Shares&#8221; is hereby amended to include the &#8220;Exchange Shares (as defined in each Amendment and Exchange Agreement)&#8221;.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The defined term &#8220;Amendment and Exchange Agreement&#8221; shall mean this Agreement and each Other Agreement.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;The defined term &#8220;Transaction Documents&#8221; is hereby amended to include this Agreement and each Other Agreement.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">8</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-weight: bold;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="font-weight: bold;"><u>Representations and Warranties.</u></font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160; &#160; &#160;&#160; <u>Company Bring Down</u>.&#160; Except as set forth on Schedule 3(a) attached hereto, the Company hereby makes the representations and warranties to the Holder as set
        forth in Section 3.1 of the Securities Purchase Agreement (as amended hereby) as if such representations and warranties were made as of the date hereof and as of the Effective Date as set forth in their entirety in this Amendment, <font style="font-style: italic;">mutatis mutandis</font>.&#160; Such representations and warranties to the transactions thereunder and the securities issued pursuant thereto are hereby deemed for purposes of this Agreement to be references to the
        transactions hereunder and the issuance of the securities pursuant hereto, references therein to &#8220;Closing Date&#8221; being deemed references to the Effective Date, and references to &#8220;the date hereof&#8221; being deemed references to the date of this
        Agreement.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Holder Representations</u>.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Organization; Authority</u>.&#160; The Holder is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its
        organization with the requisite power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder and thereunder.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160; &#160; &#160;&#160;&#160;&#160; <u>Reliance on Exemptions</u>.&#160; The Holder understands that the Exchange Shares are being offered and exchanged in reliance on specific exemptions from the
        registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Holder&#8217;s compliance with, the representations, warranties, <a name="z_9kMHzG6ZWu5777BHP8wvjstvB"></a>agreements, acknowledgments and understandings of the Holder set forth herein in order to determine the availability of such exemptions and the eligibility of the Holder to acquire the Exchange Shares.<a name="z_Ref142218132"></a></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Governmental Review</u>.&#160; The Holder understands that no United States federal or state agency or any other government or governmental agency has passed on
        or made any recommendation or endorsement of the Exchange Shares or the fairness or suitability of the investment in the Exchange Shares nor have such authorities passed upon or endorsed the merits of the offering of the Exchange Shares.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Validity; Enforcement</u>.&#160; This Agreement has been duly and validly authorized, executed and delivered on behalf of the Holder and shall constitute the legal,
        valid and binding obligations of the Holder enforceable against the Holder in accordance with their respective terms, except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency,
        reorganization, moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors&#8217; rights and remedies.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>No Conflicts</u>.&#160; The execution, delivery and performance by the Holder of this Agreement, and the consummation by the Holder of the transactions contemplated
        hereby will not (A) result in a violation of the organizational documents of the Holder or (B) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any
        rights of termination, amendment, acceleration or cancellation of, any <a name="z_9kMH0H6ZWu5777BHP8wvjstvB"></a>agreement, indenture or instrument to which the Holder is a party, or (C) result in a violation of any law, rule, regulation, order,
        judgment or decree (including federal and state securities laws) applicable to the Holder, except in the case of clauses (B) and (C) above, for such conflicts, defaults, rights or violations which would not, individually or in the aggregate,
        reasonably be expected to have a <a name="z_9kMHG5YVt46667AXDrwv0koPC463I6TPxxvB"></a>material adverse effect on the ability of the Holder to perform its obligations hereunder.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(vii)&#160;&#160;&#160; &#160; &#160; <u>Investment Risk; Sophistication</u>.&#160; The Holder is acquiring the Exchange Shares hereunder in the ordinary course of its business.&#160; The Holder has such
        knowledge, sophistication, and experience in business and financial matters so as to be capable of evaluation of the merits and risks of the prospective investment in the Exchange Shares, and has so evaluated the merits and risk of such
        investment.&#160; The Holder is an &#8220;accredited investor&#8221; as defined in Regulation D under the Securities Act.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(viii)&#160;&#160;&#160; &#160;&#160; <u>Ownership of Existing Warrant</u>.&#160; The Holder owns the Existing Warrant free and clear of any Liens (other than the obligations pursuant to this Agreement,
        liens in the ordinary course of business (e.g. bone fide margin account liens) and applicable securities laws).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Disclosure of Transaction</u></font>.&#160; The Company shall, on or before 8:30 a.m., New York City time, on or prior to the first business day after the
        date of this Agreement, file a Current Report on Form 8-K describing the terms of the transactions contemplated hereby in the form required by the 1934 Act and attaching the form of this Agreement as an exhibit to such filing (including all
        attachments, the &#8220;<font style="font-weight: bold;">8-K Filing</font>&#8221;).&#160; From and after the filing of the 8-K Filing, the Company shall have disclosed all material, non-public information (if any) provided up to such time to the Holder by the
        Company or any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents, that is not disclosed in the 8-K Filing.&#160; The Company shall not, and shall cause its officers, directors, employees, affiliates and
        agents, not to, provide the Holder with any material, nonpublic information regarding the Company from and after the filing of the 8-K Filing without the express written consent of the Holder.&#160; To the extent that the Company delivers any material,
        non-public information to the Holder without the Holder&#8217;s express prior written consent, the Company hereby covenants and agrees that the Holder shall not have any duty of confidentiality to the Company, any of its Subsidiaries or any of their
        respective officers, directors, employees, affiliates or agent with respect to, or a duty to the to the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agent or not to trade on the basis of,
        such material, non-public information.&#160; The Company shall not disclose the name of the Holder in any filing, announcement, release or otherwise, unless such disclosure is required by law or regulation.&#160; In addition, effective upon the filing of the
        8-K Filing, the Company acknowledges and agrees that any and all confidentiality or similar obligations under any agreement with respect to the transactions contemplated by this Agreement or as otherwise disclosed in the 8-K Filing, whether written
        or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, affiliates, employees or agents, on the one hand, and any of the Holder or any of their affiliates, on the other hand, shall terminate.&#160; Neither
        the Company, its Subsidiaries nor the Holder shall issue any press releases or any other public statements with respect to the transactions contemplated hereby; <font style="font-style: italic;"><u>provided</u></font>, <font style="font-style: italic;"><u>however</u></font>, the Company shall be entitled, without the prior approval of the Holder, to make a press release or other public disclosure with respect to such transactions (i) in substantial conformity with the 8-K Filing and
        contemporaneously therewith or (ii) as is required by applicable law and regulations (provided that in the case of clause (i) the Holder shall be consulted by the Company in connection with any such press release or other public disclosure prior to
        its release).&#160; Without the prior written consent of the Holder (which may be granted or withheld in the Holder&#8217;s sole discretion), except as required by applicable law, the Company shall not (and shall cause each of its Subsidiaries and affiliates
        to not) disclose the name of the Holder in any filing, announcement, release or otherwise.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
        <div id="DSPFPageBreak" style="page-break-after:always;">
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      </div>
      <div style="text-align: justify; text-indent: 36pt;">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>No Integration</u></font>.&#160; None of the Company, its Subsidiaries, any of their affiliates, or any Person acting on their behalf shall, directly or
        indirectly, make any offers or sales of any security (as defined in the Securities Act) or solicit any offers to buy any security or take any other actions, under circumstances that would require registration of the Exchange Shares under the
        Securities Act or cause this offering of the Exchange Shares to be integrated with such offering or any prior offerings by the Company for purposes of Regulation D under the Securities Act.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;">6.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;"><u>Holding Period</u></font><font style="font-weight: bold;">.&#160; </font>For the purposes of Rule 144 of the Securities Act (&#8220;<font style="font-weight: bold;">Rule 144</font>&#8221;), the Company acknowledges that the holding period of the Exchange Shares, may be tacked onto the holding period of the Existing Warrant, and the Company agrees not to take a position contrary to this Section 6.&#160; The
        Company acknowledges and agrees that (i) upon issuance in accordance with the terms hereof, the Exchange Shares are eligible to be resold without restriction pursuant to Rule 144, (ii) the Company is not aware of any event reasonably likely to
        occur that would reasonably be expected to result in the Exchange Shares becoming ineligible to be resold by the Holder pursuant to Rule 144 and (iii) in connection with any resale of any Exchange Shares pursuant to Rule 144, the Holder shall
        solely be required to provide reasonable assurances that such Exchange Shares are eligible for resale, assignment or transfer under Rule 144, which shall not include an opinion of Holder&#8217;s counsel.&#160; The Company shall be responsible for any transfer
        agent fees or Depository Trust Company fees or legal fees of the Company&#8217;s counsel with respect to the removal of legends, if any, or issuance of Exchange Shares in accordance herewith.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;">7.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u></u><font style="font-weight: bold;"><u>Listing</u></font>.&#160; The Company shall promptly secure the listing or designation for quotation (as applicable) of all of the Exchange Shares
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      <div>&#160;</div>
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        written notice to the Company at any time the Holder may elect not to accept the benefit of any such amended or modified term or condition, in which event the term or condition contained in this Agreement shall apply to the Holder as it was in
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        Holder and Other Holders are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement or any Other Agreement and the Company acknowledges that, to the best of its knowledge, the
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      <div style="text-align: justify; text-indent: 36pt;">15.&#160; &#160;&#160; &#160; <font style="font-weight: bold;"><u>Miscellaneous</u></font>.&#160; Section 5 of the Securities Purchase Agreement is hereby incorporated by reference herein, <font style="font-style: italic;">mutatis mutandis</font>.&#160; Notwithstanding anything set forth in Section 5 of the Securities Purchase Agreement to the contrary, the rights under Section 1(b) of the Holder hereunder may be assigned, in whole or in part, to a Permitted
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      <div style="text-align: justify; text-indent: 36pt; font-size: 12pt;"><font style="font-size: 10pt; font-weight: bold;">IN WITNESS WHEREOF, </font><font style="font-size: 10pt;">Holders and the Company have executed this Agreement as of the date set
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            <td style="width: 10%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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              <div style="text-align: justify; font-weight: bold;">Aggregate Number of Shares of Common Stock issuable upon exercise of Existing Warrant:</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Broadridge Financial Solutions, Inc.
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    <div style="text-align: right;"><font style="font-weight: bold;"> Exhibit 99.1</font><br>
    </div>
    <div> <br>
    </div>
    <div>
      <div id="DSPFPageHeader">
        <div style="text-align: center;"><img width="204" height="40" src="image0.jpg"></div>
        <div><br>
        </div>
      </div>
      <div style="text-align: center; font-weight: bold;">AMERI HOLDINGS ANNOUNCES WARRANT EXCHANGE</div>
      <div style="text-align: center; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; font-weight: bold;">
        <div><font style="background-color: rgb(255, 255, 255);">&#8211; Eliminates All Adverse Warrants &#8211;</font> <br>
        </div>
      </div>
      <div style="text-align: center; font-weight: bold;"> <br>
      </div>
      <div style="background-color: #FEFEFE;">
        <div>
          <div style="background-color: #FEFEFE;">
            <div>ATLANTA, GA., September 20, 2019 -- AMERI Holdings, Inc. (NASDAQ: AMRH) (&#8220;Ameri100&#8221;), a specialized SAP&#174; cloud, digital and enterprise solutions company, today announced
              that it had exchanged all remaining outstanding warrants that were issued as part of a financing in 2018 (the &#8220;2018 Warrants&#8221;) for shares of Ameri100&#8217;s common stock.</div>
          </div>
        </div>

        <div>&#160;</div>
        <div>
          <div style="background-color: #FEFEFE;">
            <div style="font-size: 12pt;"><font style="background-color: rgb(254, 254, 254); font-size: 10pt;">The 2018 Warrants had anti-dilution features such
                that the exercise price of the warrants had decreased to $0.30 from $1.20, and the number of warrants had increased from </font><font style="background-color: rgb(255, 255, 255); font-size: 10pt;">4,400,334
              </font><font style="background-color: rgb(254, 254, 254); font-size: 10pt;">to </font><font style="background-color: rgb(255, 255, 255); font-size: 10pt;">18,206,897,
                of which 15,744,827 remained outstanding after giving effect to exercise of some of the warrants</font><font style="background-color: rgb(254, 254, 254); font-size: 10pt;">. These features had led
                to potential dilution to existing shareholders and comprised a significant barrier for potential new investors.</font></div>
          </div>
        </div>
        <div> <br>
          </div>

        <div>
          <div style="background-color: #FEFEFE;">
            <div>The company negotiated exchange agreements with the holders of the 15,744,827 outstanding 2018 Warrants, whereby all of such 2018 Warrants were exchanged for 10,234,136
              new shares of Ameri100 common stock.</div>
          </div>
        </div>

        <div>&#160;</div>

        <div>
          <div style="background-color: #FEFEFE;">
            <div>Brent Kelton, Ameri100&#8217;s Chief Executive Officer, said, &#8220;We believe that this warrant exchange benefits our shareholders and the company by creating a substantially
              cleaner balance sheet for the company and removing a significant financial overhang.&#8221;</div>
          </div>
        </div>
        <div>&#160;</div>
      </div>
      <div style="text-align: justify; font-weight: bold;">About Ameri100</div>
      <div style="text-align: justify; font-weight: bold;"> <br>
      </div>
      <div>Ameri100 is a specialized SAP&#174; cloud, digital and enterprise solutions company which provides SAP&#174; services to customers worldwide. Headquartered in Suwanee, Georgia, Ameri100 has offices in the U.S. and Canada. The Company also has global
        delivery centers in India. With its bespoke engagement model, the Company delivers transformational value to its clients across industry verticals. For further information, visit www.ameri100.com</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-weight: bold;">Forward-Looking Statements</div>
      <div><br>
      </div>
      <div>This press release includes forward-looking statements that relate to the business and expected future events or future performance of Ameri100 and involve known and unknown risks, uncertainties and other factors that may cause its actual
        results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to,
        "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to,
        statements about Ameri100's financial and growth projections as well as statements concerning our plans, predictions, estimates, strategies, intentions, beliefs and other information concerning our business and the markets in which we operate. The
        future performance of Ameri100 may be adversely affected by the following risks and uncertainties: the level of market demand for our services, the highly-competitive market for the types of services that we offer, market conditions that could
        cause our customers to reduce their spending for our services, our ability to create, acquire and build new businesses and to grow our existing businesses, our ability to attract and retain qualified personnel, currency fluctuations and market
        conditions around the world, and other risks not specifically mentioned herein but those that are common to industry. For a more detailed discussion of these factors and risks, investors should review Ameri100's Annual Report on Form 10-K and other
        reports filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;), which can be accessed through the SEC's website. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are
        made. All forward-looking statements are qualified in their entirety by this cautionary statement, and Ameri100 undertakes no duty to update this information to reflect future events, information or circumstances.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;">Corporate Contact:</div>
      <div>Barry Kostiner, Chief Financial Officer</div>
      <div>IR@ameri100.com</div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Investor Relations Contact:</div>
      <div>Sanjay M. Hurry</div>
      <div>LHA Investor Relations</div>
      <div>(212) 838-3777</div>
      <div>IR@ameri100.com</div>
      <div>&#160;</div>
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