<SEC-DOCUMENT>0001140361-19-021278.txt : 20191125
<SEC-HEADER>0001140361-19-021278.hdr.sgml : 20191125
<ACCEPTANCE-DATETIME>20191125072817
ACCESSION NUMBER:		0001140361-19-021278
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20191125
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20191125
DATE AS OF CHANGE:		20191125

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:		191243708

	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="background-color: rgb(255, 255, 255); font-size: 18pt;">
      <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: #000000; font-weight: bold;">CURRENT REPORT</div>
      <div style="text-align: center; color: #000000; font-weight: bold;">Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; color: #000000;">Date of Report (Date of Earliest Event Reported): <u>November 25, 2019</u></div>
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          <td style="width: 100%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0); font-size: 24pt;">
            <div style="text-align: center; color: rgb(0, 0, 0);">Ameri Holdings, Inc.</div>
          </td>
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          <td style="width: 100%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">(Exact name of registrant as specified in its charter)</div>
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          <td style="width: 33%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">Delaware</div>
          </td>
          <td style="width: 33.6%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">001-38286</div>
          </td>
          <td style="width: 32.74%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">95-4484725</div>
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          <td style="width: 33%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
            <div style="text-align: center; color: #000000;">(State or Other Jurisdiction of Incorporation)</div>
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          <td style="width: 33.6%; vertical-align: bottom; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">(Commission File Number)</div>
          </td>
          <td style="width: 32.74%; vertical-align: bottom; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">(IRS Employer Identification No.)</div>
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          <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">5000 Research Court, Suite 750, Suwanee, Georgia</div>
          </td>
          <td style="width: 2.05%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">&#160;</td>
          <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000;">30024</div>
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          <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255);">
            <div style="text-align: center; color: #000000;">(Address of Principal Executive Offices)</div>
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          <td style="width: 2.05%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 49%; vertical-align: top; background-color: rgb(255, 255, 255);">
            <div style="text-align: center; color: #000000;">(Zip Code)</div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; color: #000000;">Registrant&#8217;s Telephone Number, Including Area Code: <u>(770) 935-4152</u></div>
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            <div style="text-align: center; color: #000000;">(Former Name or Former Address, If Changed Since Last Report)</div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: center; color: #000000;">Securities registered pursuant to Section 12(b) of the Act:</div>
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          <td style="width: 32.9%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-weight: bold;">Title of Each Class</div>
          </td>
          <td style="width: 33.92%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-weight: bold;">Trading Symbol</div>
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          <td style="width: 33.18%; vertical-align: bottom; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-weight: bold;">Name of Each Exchange on Which</div>
            <div style="text-align: center; color: #000000; font-weight: bold;">Registered</div>
          </td>
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          <td style="width: 32.9%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">Common Stock $0.01 par value per share</div>
          </td>
          <td style="width: 33.92%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">AMRH</div>
          </td>
          <td style="width: 33.18%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">The NASDAQ Stock Market LLC</div>
          </td>
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          <td style="width: 32.9%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">Warrants to Purchase Common Stock</div>
          </td>
          <td style="width: 33.92%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">AMRHW</div>
          </td>
          <td style="width: 33.18%; vertical-align: top; background-color: #FFFFFF;">
            <div style="text-align: center; color: #000000;">The NASDAQ Stock Market LLC</div>
          </td>
        </tr>

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    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
      <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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              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
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              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</div>
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              <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Segoe UI Symbol',sans-serif;">&#9744;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
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              <td style="width: 27pt; vertical-align: top; color: rgb(0, 0, 0); font-family: 'Segoe UI Symbol',sans-serif;">&#9744;</td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
              </td>
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    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
      <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>
      <div><br>
      </div>
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    <div style="background-color: #FFFFFF;">
      <div style="text-align: right; color: #000000;">Emerging growth company &#9746;</div>
    </div>
    <div style="background-color: #FFFFFF;">
      <div><br>
      </div>
      <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; font-weight: bold;">Item 1.01</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Entry into a Material Definitive Agreement.</div>
              </td>
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    <div style="text-indent: 36pt;"><font style="color: #000000;"> </font><br>
    </div>
    <div style="background-color: #FFFFFF;">
      <div style="color: #000000;">On November 25, 2019, Ameri Holdings, Inc. (the &#8220;Company&#8221;) entered into a securities purchase agreement (the &#8220;Purchase Agreement&#8221;) with an institutional investor for the sale of a $1,000,000 convertible debenture (the
        &#8220;Debenture&#8221;).</div>
      <div><br>
      </div>
      <div style="color: rgb(0, 0, 0);">
        <div>The Debenture accrues interest at rate of 5% and will be due six (6) months from the issue date. The Debenture may be converted at any time after the issue date into shares of
          Company&#8217;s Common Stock (the &#8220;Conversion Shares&#8221;) at a price equal to $0.109.</div>
      </div>
      <div><font style="color: #000000;"> </font><br>
      </div>
    </div>
    <div style="color: #000000;">The Debenture and the Conversion Shares issuable upon the conversion of the Debenture are being offered by the Company pursuant to an effective shelf registration statement on Form S-3, which was originally filed with the
      Securities and Exchange Commission on August 14, 2019, and was declared effective on November 19, 2019 (File No. 333-233260) (the &#8220;Registration Statement&#8221;).</div>
    <div><br>
    </div>
    <div style="color: #000000;">The closing of the offering described above is subject to satisfaction of specified customary closing conditions.</div>
    <div><br>
    </div>
    <div style="color: #000000;">Palladium Capital Advisors, LLC served as financial advisor to the Company in connection with the offering.</div>
    <div style="text-indent: 36pt;"><font style="color: #000000;"> </font><br>
    </div>
    <div style="color: #000000;">The foregoing summary of the terms of the Purchase Agreement and Debenture are subject to, and qualified in their entirety by, the documents attached hereto as Exhibits 10.1 and 10.2, respectively, which are incorporated
      herein by reference.</div>
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              <td style="width: 45pt; vertical-align: top; color: rgb(0, 0, 0); font-weight: bold;"><font style="background-color: #FFFFFF;">Item 2.03</font></td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #000000; font-weight: bold;"><font style="background-color: #FFFFFF;">Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant</font></div>
              </td>
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    </div>
    <div style="text-indent: 36pt;"><font style="color: #000000;"> </font><br>
    </div>
    <div style="color: #000000;"><font style="background-color: #FFFFFF;">The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.</font></div>
    <div><br>
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              <td style="width: 45pt; vertical-align: top; font-weight: bold;">Item 9.01</td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-weight: bold;">Financial Statements and Exhibits.</div>
              </td>
            </tr>

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    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;"> </font><br>
    </div>
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              <td style="width: 27pt; vertical-align: top;">(d)</td>
              <td style="width: auto; vertical-align: top;">
                <div>Exhibits</div>
              </td>
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      </div>
    </div>
    <div style="text-align: justify;"><font style="color: #000000;"> </font><br>
    </div>
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        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za2e3ecae7d224f1da413a9c8bb695859">

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              <td style="width: 27pt; vertical-align: top;"><a href="ex10_1.htm">10.1</a></td>
              <td style="width: auto; vertical-align: top;">
                <div>
                  <div style="color: rgb(0, 0, 0);">Form of Securities Purchase Agreement</div>
                </div>
              </td>
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      </div>
    </div>
    <div style="text-indent: -36pt; margin-left: 36pt;"><font style="color: #000000;"> </font><br>
    </div>
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              <td style="width: 27pt; vertical-align: top;"><a href="ex10_2.htm">10.2</a></td>
              <td style="width: auto; vertical-align: top;">
                <div>
                  <div style="color: rgb(0, 0, 0);">Form of Convertible Debenture</div>
                </div>
              </td>
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      </div>
    </div>
    <div><br>
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    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">- 2 -</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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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>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z56ccbeffa2c54fc0b50318214e44fcea">

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          <td style="width: 49.8%; vertical-align: top; background-color: #FFFFFF;">
            <div style="color: #000000;">November 25, 2019</div>
          </td>
          <td colspan="2" style="vertical-align: top; background-color: rgb(255, 255, 255);">
            <div style="color: #000000;">AMERI HOLDINGS, INC.</div>
          </td>
        </tr>
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          <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">
            <div style="color: #000000;">By:</div>
          </td>
          <td style="width: 46.65%; vertical-align: top; background-color: #FFFFFF; border-bottom: #000000 2px solid;">
            <div style="color: #000000;">/s/ Barry Kostiner</div>
          </td>
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        <tr>
          <td style="width: 49.8%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 46.65%; vertical-align: top; background-color: #FFFFFF;">
            <div style="color: #000000;">Name: Barry Kostiner</div>
          </td>
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        <tr>
          <td style="width: 49.8%; vertical-align: top; background-color: #FFFFFF;">&#160;</td>
          <td style="width: 3%; vertical-align: top; background-color: rgb(255, 255, 255);">&#160;</td>
          <td style="width: 46.65%; vertical-align: top; background-color: #FFFFFF;">
            <div style="color: #000000;">Title: Chief Financial Officer</div>
          </td>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.1</font><br>
  </div>
  <div><br>
  </div>
  <div>
    <div style="text-align: center; text-indent: -36pt; margin-left: 36pt; font-weight: bold;">SECURITIES PURCHASE AGREEMENT</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">This Securities Purchase Agreement (this &#8220;<u>Agreement</u>&#8221;) is dated as of November 25, 2019, between AMERI Holdings, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), and each purchaser
      identified on the signature pages hereto (each, including its successors and assigns, a &#8220;<u>Purchaser</u>&#8221; and collectively the &#8220;<u>Purchasers</u>&#8221;).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to an effective registration statement under the Securities Act (as defined below), the Company desires to issue
      and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;">NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the
      Company and each Purchaser agree as follows:</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">ARTICLE I.</div>
    <div style="text-align: center;">DEFINITIONS</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">1.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;"><u> Definitions</u>.&#160; In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement,
        the following terms have the meanings set forth in this Section 1.1:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; color: #000000;">&#8220;<u>Acquiring Person</u>&#8221; shall have the meaning ascribed to such term in Section 4.4.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Action</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(j).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Affiliate</u>&#8221; means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such
      terms are used in and construed under Rule 405 under the Securities Act.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Board of Directors</u>&#8221; means the board of directors of the Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Business Day</u>&#8221; means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the
      State of New York are authorized or required by law or other governmental action to close.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Closing</u>&#8221; means the closing of the purchase and sale of the Debentures pursuant to Section 2.1.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Closing Date</u>&#8221; means the Trading Day on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto, and all conditions
      precedent to (i) the Purchasers&#8217; obligations to pay the Subscription Amount and (ii) the Company&#8217;s obligations to deliver the Debentures, in each case, have been satisfied or waived, but in no event later than the second (2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>) Trading Day
      following the date hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Commission</u>&#8221; means the United States Securities and Exchange Commission.</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">1</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Common Stock</u>&#8221; means the common stock of the Company, par value $0.01 per share, and any other class of securities into which such securities may hereafter be reclassified
      or changed.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Common Stock Equivalents</u>&#8221; means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Common Stock, including,
      without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Common Stock.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Company Counsel</u>&#8221; means Sheppard, Mullin, Richter &amp; Hampton, LLP, with offices located at 30 Rockefeller Plaza, New York, NY 10112.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion Shares</u>&#8221; means shares of Common Stock issued and issuable pursuant to the terms of the Debentures, including without limitation, shares of Common Stock issued and
      issuable in lieu of the cash payment of interest on the Debentures in accordance with the terms of the Debentures, in each case without respect to any limitation or restriction on the conversion of the Debentures.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Debentures</u>&#8221; means the 5% Convertible Debentures due, subject to the terms therein, six months from their date of issuance, issued by the Company to the Purchasers
      hereunder, in the form of <u>Exhibit A</u> attached hereto.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#160;&#8220;<u>Disclosure Schedules</u>&#8221; means the Disclosure Schedules of the Company delivered concurrently herewith.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Disclosure Time</u>&#8221; means, (i) if this Agreement is signed on a day that is not a Trading Day or after 9:00 a.m. (New York City time) and before midnight (New York City time)
      on any Trading Day, 9:01 a.m. (New York City time) on the Trading Day immediately following the date hereof, and (ii) if this Agreement is signed between midnight (New York City time) and 9:00 a.m. (New York City time) on any Trading Day, no later
      than 9:01 a.m. (New York City time) on the date hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#160;&#8220;<u>EGS</u>&#8221; means Ellenoff Grossman &amp; Schole LLP, with offices located at 1345 Avenue of the Americas, New York, New York 10105-0302.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Evaluation Date</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(s).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Exchange Act</u>&#8221; means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.</div>
    <div><br>
    </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">2</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Exempt Issuance</u>&#8221; means the issuance of (a) shares of Common Stock or options to employees, officers or directors 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, (b) securities upon
      the exercise or exchange of or conversion of the Debentures issued hereunder 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, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Company, provided that such securities are issued as
      &#8220;restricted securities&#8221; (as defined in Rule 144) and carry no registration rights that require or permit the filing of any registration statement in connection therewith during the prohibition period in Section 4.12(a) herein, and provided that any
      such issuance shall only be to a Person (or to the equityholders of a Person) which is, itself or through its subsidiaries, an operating company or an owner of an asset in a business synergistic with the business of the Company and shall provide to
      the Company additional benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in
      securities.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>FCPA</u>&#8221; means the Foreign Corrupt Practices Act of 1977, as amended.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Financial Advisor</u>&#8221; means Palladium Capital Advisors LLC.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#160;&#8220;<u>GAAP</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(h).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Indebtedness</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(aa).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Intellectual Property Rights</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(p).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Liens</u>&#8221; means a lien, charge, pledge, security interest, encumbrance, right of first refusal, preemptive right or other restriction.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Material Adverse Effect</u>&#8221; shall have the meaning assigned to such term in Section 3.1(b).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Material Permits</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(n).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Participation Maximum</u>&#8221; shall have the meaning ascribed to such term in Section 4.9(a).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Person</u>&#8221; means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited liability company, joint stock company,
      government (or an agency or subdivision thereof) or other entity of any kind.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Pre-Notice</u>&#8221; shall have the meaning ascribed to such term in Section 4.9(b).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Pro Rata Portion</u>&#8221; shall have the meaning ascribed to such term in Section 4.9(e).</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>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Proceeding</u>&#8221; means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a
      deposition), whether commenced or threatened.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Prospectus</u>&#8221; means the final prospectus filed for the Registration Statement.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Prospectus Supplement</u>&#8221; means the supplement to the Prospectus complying with Rule 424(b) of the Securities Act that is filed with the Commission and delivered by the
      Company to each Purchaser at the Closing.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Purchaser Party</u>&#8221; shall have the meaning ascribed to such term in Section 4.7.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Registration Statement</u>&#8221; means the effective registration statement with Commission file No. 333-233260 which registers the sale of the Debentures and Conversion Shares.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Required Approvals</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(e).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Rule 144</u>&#8221; means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or
      regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Rule 424</u>&#8221; means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended or interpreted from time to time, or any similar rule or
      regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>SEC Reports</u>&#8221; shall have the meaning ascribed to such term in Section 3.1(h).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#160;&#8220;<u>Securities Act</u>&#8221; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Short Sales</u>&#8221; means all &#8220;short sales&#8221; as defined in Rule 200 of Regulation SHO under the Exchange Act <font style="color: #000000;">(but shall not be deemed to include </font>locating




      and/or borrowing<font style="color: #000000;"> shares of Common Stock)</font>.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#160;&#8220;<u>Subscription Amount</u>&#8221; means, as to each Purchaser, the aggregate amount to be paid for Debentures purchased hereunder as specified below such Purchaser&#8217;s name on the
      signature page of this Agreement and next to the heading &#8220;Subscription Amount,&#8221; in United States dollars and in immediately available funds.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Subsequent Financing</u>&#8221; shall have the meaning ascribed to such term in Section 4.9(a).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Subsequent Financing Notice</u>&#8221; shall have the meaning ascribed to such term in Section 4.9(b).</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>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Subsidiary</u>&#8221; means any subsidiary of the Company as set forth on <u>Schedule 3.1(a)</u>, and shall, where applicable, also include any direct or indirect subsidiary of the
      Company formed or acquired after the date hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Trading Day</u>&#8221; means a day on which the principal Trading Market is open for trading.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Trading Market</u>&#8221; means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the
      Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, (or any successors to any of the foregoing).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Transaction Documents</u>&#8221; means this Agreement, the Debentures, all exhibits and schedules thereto and hereto and any other documents or agreements executed in connection with
      the transactions contemplated hereunder.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Transfer Agent</u>&#8221; means Corporate Stock Transfer, the current transfer agent of the Company, and any successor transfer agent of the Company.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Variable Rate Transaction</u>&#8221; shall have the meaning ascribed to such term in Section 4.10(b).</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">ARTICLE II.</div>
    <div style="text-align: center;">PURCHASE AND SALE</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">2.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Closing</u>.&#160; On the Closing Date, upon the terms and subject to the conditions set forth herein, substantially
        concurrent with the execution and delivery of this Agreement by the parties hereto, the Company agrees to sell, and the Purchasers, severally and not jointly,&#160; agree to purchase, up to an aggregate of $1,000,000 principal amount of Debentures.&#160;
        Each Purchaser&#8217;s Subscription Amount as set forth on the signature page hereto executed by such Purchaser shall be made available for &#8220;Delivery Versus Payment&#8221; settlement with the Company or its designee. The Company shall deliver to each Purchaser
        its respective Debenture, and the Company and each Purchaser shall deliver the other items set forth in Section 2.2 deliverable at the Closing.&#160; Upon satisfaction of the covenants and conditions set forth in Sections 2.2 and 2.3, the Closing shall
        occur at the offices of EGS or such other location as the parties shall mutually agree.</font></div>
    <div>&#160;</div>
    <div style="text-indent: 36pt;"><font style="color: #000000;">2.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Deliveries</u>.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">On or prior to the Closing Date, the Company shall deliver or cause to be delivered to each
        Purchaser the following:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;this Agreement duly executed by the Company;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a legal opinion of Company Counsel, in customary form and substance reasonably acceptable to Purchaser;</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="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company shall have provided each Purchaser with the Company&#8217;s wire instructions, on Company letterhead and executed by the Chief Executive Officer or Chief
      Financial Officer;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company shall deliver a Debenture registered in the name of the Purchaser in the principal amount of the Subscription Amount; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Prospectus and Prospectus Supplement (which may be delivered in accordance with Rule 172 under the Securities Act).</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;On or prior to the Closing Date, each Purchaser shall deliver or cause to be delivered to the Company the following:</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;this Agreement duly executed by such Purchaser; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; such Purchaser&#8217;s Subscription Amount, which shall be made available for &#8220;Delivery Versus Payment&#8221; settlement with the Company or its designee.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">2.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Closing Conditions</u>.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;">The obligations of the Company hereunder in connection with the Closing are subject to the following
        conditions being met:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) on the
      Closing Date of the representations and warranties of the Purchasers contained herein (unless as of a specific date therein in which case they shall be accurate as of such date);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all obligations, covenants and agreements of each Purchaser required to be performed at or prior to the Closing Date shall have been performed; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the delivery by each Purchaser of the items set forth in Section 2.2(b) 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;The respective obligations of the Purchasers hereunder in connection with the Closing are subject to the following conditions being met:</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 accuracy in all material respects (or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect, in all respects) when
      made and on the Closing Date of the representations and warranties of the Company contained herein (unless as of a specific date therein in which case they shall be accurate as of such date);</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; all obligations, covenants and agreements of the Company required to be performed at or prior to the Closing Date shall have been performed;</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="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160; the delivery by the Company of the items set forth in Section 2.2(a) of this Agreement;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(iv)&#160;&#160;&#160;&#160;&#160;&#160;&#160; no Person with any rights of participation in the transactions contemplated hereby shall have exercised such rights;</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; there shall have been no Material Adverse Effect with respect to the Company since the date hereof; and</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">(vi)&#160;&#160;&#160;&#160;&#160;&#160;&#160; from the date hereof to the Closing Date, trading in the Common Stock shall not have been suspended by the Commission or the Company&#8217;s principal Trading Market, and, at
      any time prior to the Closing Date, trading in securities generally as reported by Bloomberg L.P. shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by such service, or
      on any Trading Market, nor shall a banking moratorium have been declared either by the United States or New York State authorities nor shall there have occurred any material outbreak or escalation of hostilities or other national or international
      calamity of such magnitude in its effect on, or any material adverse change in, any financial market which, in each case, in the reasonable judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Debentures at the Closing.</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">ARTICLE III.</div>
    <div style="text-align: center;">REPRESENTATIONS AND WARRANTIES</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">3.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Representations and Warranties of the Company</u>.&#160; Except as set forth in the Disclosure Schedules, which Disclosure
        Schedules shall be deemed a part hereof and shall qualify any representation or otherwise made herein to the extent of the disclosure contained in the corresponding section of the Disclosure Schedules, the Company hereby makes the following
        representations and warranties to each Purchaser:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: #000000;"><u>Subsidiaries</u>.&#160; All of the direct and indirect subsidiaries of the Company are set forth on <u>Schedule




          3.1(a)</u>.&#160; The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary free and clear of any Liens, and all of the issued and outstanding shares of capital stock of each Subsidiary are validly
        issued and are fully paid, non-assessable and free of preemptive and similar rights to subscribe for or purchase securities.&#160; If the Company has no subsidiaries, all other references to the Subsidiaries or any of them in the Transaction Documents
        shall be disregarded.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160;&#160; &#160; &#160;&#160; <u>Organization and Qualification</u>.&#160; The Company and each of the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good
      standing under the laws of the jurisdiction of its incorporation or organization, with the requisite power and authority to own and use its properties and assets and to carry on its business as currently conducted.&#160; Neither the Company nor any
      Subsidiary is in violation nor default of any of the provisions of its respective certificate or articles of incorporation, bylaws or other organizational or charter documents.&#160; Each of the Company and the Subsidiaries is duly qualified to conduct
      business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in
      good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of
      operations, assets, business, prospects or condition (financial or otherwise) of the Company and the Subsidiaries, taken as a whole, or (iii) a material adverse effect on the Company&#8217;s ability to perform in any material respect on a timely basis its
      obligations under any Transaction Document (any of (i), (ii) or (iii), a &#8220;<u>Material Adverse Effect</u>&#8221;) and no Proceeding has been instituted in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such
      power and authority or qualification.</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="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160; &#160;&#160; &#160; &#160; &#160; <u>Authorization; Enforcement</u>.&#160; The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this
      Agreement and each of the other Transaction Documents and otherwise to carry out its obligations hereunder and thereunder.&#160; The execution and delivery of this Agreement and each of the other Transaction Documents by the Company and the consummation
      by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company, the Board of Directors or the Company&#8217;s stockholders in
      connection herewith or therewith other than in connection with the Required Approvals.&#160; This Agreement and each other Transaction Document to which it is a party has been (or upon delivery will have been) duly executed by the Company and, when
      delivered in accordance with the terms hereof and thereof, will constitute the valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and
      applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors&#8217; rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief
      or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160; <u>No Conflicts</u>.&#160; Except as set forth on Schedule 3.1(d), the execution, delivery and performance by the Company of this Agreement and the other Transaction
      Documents to which it is a party, the issuance and sale of the Securities and the consummation by it of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company&#8217;s or any
      Subsidiary&#8217;s certificate or articles of incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, result in
      the creation of any Lien upon any of the properties or assets of the Company or any Subsidiary, or give to others any rights of termination, amendment, anti-dilution or similar adjustments, acceleration or cancellation (with or without notice, lapse
      of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other understanding to which the Company or any Subsidiary is a party or by which any property or asset of the
      Company or any Subsidiary is bound or affected, or (iii) subject to the Required Approvals, conflict with or result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental
      authority to which the Company or a Subsidiary is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii)
      and (iii), such as could not have or reasonably be expected to result in a Material Adverse 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">8</font></div>
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160; &#160;&#160; &#160;&#160;&#160; <u>Filings, Consents and Approvals</u>.&#160; Except as set forth on Schedule 3.1(e), the Company is not required to obtain any consent, waiver, authorization or order
      of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the Company of the Transaction
      Documents, other than: (i) the filings required pursuant to Section 4.3 of this Agreement, (ii) the filing with the Commission of the Prospectus Supplement, (iii) application(s) to each applicable Trading Market for the listing of the&#160; Conversion
      Shares for trading thereon in the time and manner required thereby and (iv) such filings as are required to be made under applicable state securities laws (collectively, the &#8220;<u>Required Approvals</u>&#8221;).</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Issuance of the Securities; Registration</u>.&#160; The Debentures and the Conversion Shares are duly authorized and, when issued and paid for in accordance with the
      applicable Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens imposed by the Company.&#160; The Company has reserved from its duly authorized capital stock the maximum number of shares of
      Common Stock issuable pursuant to this Agreement and the Debentures. The Company has prepared and filed the Registration Statement in conformity with the requirements of the Securities Act, which became effective on November 19, 2019 (the &#8220;<u>Effective




        Date</u>&#8221;), including the Prospectus, and such amendments and supplements thereto as may have been required to the date of this Agreement.&#160; The Registration Statement is effective under the Securities Act and no stop order preventing or suspending
      the effectiveness of the Registration Statement or suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by
      the Commission.&#160; The Company, if required by the rules and regulations of the Commission, shall file the Prospectus with the Commission pursuant to Rule 424(b).&#160; At the time the Registration Statement and any amendments thereto became effective, at
      the date of this Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain any 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 the Prospectus and any amendments or supplements thereto, at the time the Prospectus or any
      amendment or supplement thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state
      a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. The Company was at the time of the filing of the Registration Statement eligible to use Form S-3. The
      Company is eligible to use Form S-3 under the Securities Act and it meets the transaction requirements with respect to the aggregate market value of securities being sold pursuant to this offering and during the twelve (12) months prior to this
      offering, as set forth in General Instruction I.B.6 of Form S-3.</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;">
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    </div>
    <div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160; <u>Capitalization</u>.&#160; The capitalization of the Company as of the date hereof is as set forth in the Registration Statement.&#160; The Company has not issued any
        capital stock since its <font style="color: #000000;">most recently filed periodic report under the Exchange Act, </font>other than pursuant to the exercise of employee stock options under the Company&#8217;s stock option plans, the issuance of shares
        of Common Stock to employees pursuant to the Company&#8217;s employee stock purchase plans and pursuant to the conversion and/or exercise of Common Stock Equivalents outstanding as of the date of the most recently filed periodic report under the Exchange
        Act.&#160; No Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction Documents that has not been waived or satisfied.&#160; Except as set forth
        in the Disclosure Schedules, there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities, rights or obligations convertible into or exercisable or
        exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock or the capital stock of any Subsidiary, or contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or
        may become bound to issue additional shares of Common Stock or Common Stock Equivalents or capital stock of any Subsidiary.&#160; The issuance and sale of the Debentures or any Conversion Shares will not obligate the Company or any Subsidiary to issue
        shares of Common Stock or other securities to any Person (other than the Purchasers). There are no outstanding securities or instruments of the Company or any Subsidiary with any provision that adjusts the exercise, conversion, exchange or reset
        price of such security or instrument upon an issuance of securities by the Company or any Subsidiary.&#160; There are no outstanding securities or instruments of the Company or any Subsidiary that contain any redemption or similar provisions, and there
        are no contracts, commitments, understandings or arrangements by which the Company or any Subsidiary is or may become bound to redeem a security of the Company or such Subsidiary. The Company does not have any stock appreciation rights or &#8220;phantom
        stock&#8221; plans or agreements or any similar plan or agreement. All of the outstanding shares of capital stock of the Company are duly authorized, validly issued, fully paid and nonassessable, have been issued in compliance with all federal and state
        securities laws, and none of such outstanding shares was issued in violation of any preemptive rights or similar rights to subscribe for or purchase securities.&#160; No further approval or authorization of any stockholder, the Board of Directors or
        others is required for the issuance and sale of the Debentures.&#160; There are no stockholders agreements, voting agreements or other similar agreements with respect to the Company&#8217;s capital stock to which the Company is a party or, to the knowledge of
        the Company, between or among any of the Company&#8217;s stockholders.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">10</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>SEC Reports; Financial Statements</u>.&#160; The Company has filed all reports, schedules, forms, statements and other documents required to be filed by the Company
        under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the two years preceding the date hereof (or such shorter period as the Company was required by law or regulation to file such material) (the
        foregoing materials, including the exhibits thereto and documents incorporated by reference therein, together with the Prospectus and the Prospectus Supplement, being collectively referred to herein as the &#8220;<u>SEC Reports</u>&#8221;) on a timely basis or
        has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension.&#160; As of their respective dates, the SEC Reports complied in all material respects with the requirements of the
        Securities Act and the Exchange Act, as applicable, and none of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
        statements therein, in the light of the circumstances under which they were made, not misleading. The Company has never been an issuer subject to Rule 144(i) under the Securities Act. The financial statements of the Company included in the SEC
        Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing.&#160; Such financial statements have been prepared in accordance
        with United States generally accepted accounting principles applied on a consistent basis during the periods involved (&#8220;<u>GAAP</u>&#8221;), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited
        financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as of and for the dates thereof and the results of operations
        and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal, immaterial, year-end audit adjustments.</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; <u>Material Changes; Undisclosed Events, Liabilities or Developments</u>.&#160; Since the date of the latest audited financial statements included within the SEC
        Reports, except as set forth on <u>Schedule 3.1(i)</u>, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any
        liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company&#8217;s financial
        statements pursuant to GAAP or disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its
        stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company
        stock option plans.&#160; The Company does not have pending before the Commission any request for confidential treatment of information.&#160; Except for the issuance of the Debentures contemplated by this Agreement or as set forth on <u>Schedule 3.1(i)</u>,
        no event, liability, fact, circumstance, occurrence or development has occurred or exists or is reasonably expected to occur or exist with respect to the Company or its Subsidiaries or their respective businesses, prospects, properties, operations,
        assets or financial condition that would be required to be disclosed by the Company under applicable securities laws at the time this representation is made or deemed made that has not been publicly disclosed at least 1 Trading Day prior to the
        date that this representation is made.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(j)&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <u>Litigation</u>.&#160; There is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the Company, threatened
        against or affecting the Company, any Subsidiary or any of their respective properties before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an &#8220;<u>Action</u>&#8221;)




        which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the Debentures or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material
        Adverse Effect.&#160; Neither the Company nor any Subsidiary, nor any director or officer thereof, is or has been the subject of any Action involving a claim of violation of or liability under federal or state securities laws or a claim of breach of
        fiduciary duty.&#160; There has not been, and to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company or any current or former director or officer of the Company.&#160; The Commission
        has not issued any stop order or other order suspending the effectiveness of any registration statement filed by the Company or any Subsidiary under the Exchange Act or the Securities Act.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(k)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Labor Relations</u>.&#160; No labor dispute exists or, to the knowledge of the Company, is imminent with respect to any of the employees of the Company, which could
        reasonably be expected to result in a Material Adverse Effect.&#160; None of the Company&#8217;s or its Subsidiaries&#8217; employees is a member of a union that relates to such employee&#8217;s relationship with the Company or such Subsidiary, and neither the Company
        nor any of its Subsidiaries is a party to a collective bargaining agreement, and the Company and its Subsidiaries believe that their relationships with their employees are good.&#160; To the knowledge of the Company, no executive officer of the Company
        or any Subsidiary, is, or is now expected to be, in violation of any material term of any employment contract, confidentiality, disclosure or proprietary information agreement or non-competition agreement, or any other contract or agreement or any
        restrictive covenant in favor of any third party, and the continued employment of each such executive officer does not subject the Company or any of its Subsidiaries to any liability with respect to any of the foregoing matters.&#160; The Company and
        its Subsidiaries are in compliance with all U.S. federal, state, local and foreign laws and regulations relating to employment and employment practices, terms and conditions of employment and wages and hours, except where the failure to be in
        compliance could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(l)&#160;&#160;&#160; &#160; &#160;&#160;&#160; &#160; <u>Compliance</u>.&#160; Neither the Company nor any Subsidiary: (i) is in default under or in violation of (and no event has occurred that has not been waived that,
        with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan
        or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any judgment, decree or order of
        any court, arbitrator or other governmental authority or (iii) is or has been in violation of any statute, rule, ordinance or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws relating
        to taxes, environmental protection, occupational health and safety, product quality and safety and employment and labor matters, except in each case as could not have or reasonably be expected to result in a Material Adverse Effect.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">12</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(m)&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Environmental Laws</u>.&#160; The Company and its Subsidiaries (i) are in compliance with all federal, state, local and foreign laws relating to pollution or
        protection of human health or the environment (including ambient air, surface water, groundwater, land surface or subsurface strata), including laws relating to emissions, discharges, releases or threatened releases of chemicals, pollutants,
        contaminants, or toxic or hazardous substances or wastes (collectively, &#8220;<u>Hazardous Materials</u>&#8221;) into the environment, or otherwise relating to the manufacture, processing, distribution, use, treatment, storage, disposal, transport or handling
        of Hazardous Materials, as well as all authorizations, codes, decrees, demands, or demand letters, injunctions, judgments, licenses, notices or notice letters, orders, permits, plans or regulations, issued, entered, promulgated or approved
        thereunder (&#8220;<u>Environmental Laws</u>&#8221;); (ii) have received all permits licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses; and (iii) are in compliance with all terms and
        conditions of any such permit, license or approval where in each clause (i), (ii) and (iii), the failure to so comply could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(n)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Regulatory Permits</u>.&#160; The Company and the Subsidiaries possess all certificates, authorizations and permits issued by the appropriate federal, state, local or
        foreign regulatory authorities necessary to conduct their respective businesses as described in the SEC Reports, except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse Effect (&#8220;<u>Material
          Permits</u>&#8221;), and neither the Company nor any Subsidiary has received any notice of proceedings relating to the revocation or modification of any Material Permit.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(o)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Title to Assets</u>.&#160; The Company and the Subsidiaries have good and marketable title in fee simple to all real property owned by them and good and marketable
        title in all personal property owned by them that is material to the business of the Company and the Subsidiaries, in each case free and clear of all Liens, except for (i) Liens as do not materially affect the value of such property and do not
        materially interfere with the use made and proposed to be made of such property by the Company and the Subsidiaries and (ii) Liens for the payment of federal, state or other taxes, for which appropriate reserves have been made therefor in
        accordance with GAAP and, the payment of which is neither delinquent nor subject to penalties.&#160; Any real property and facilities held under lease by the Company and the Subsidiaries are held by them under valid, subsisting and enforceable leases
        with which the Company and the Subsidiaries are in compliance.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(p)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Intellectual Property</u>.&#160; The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications,
        service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports and
        which the failure to so have could have a Material Adverse Effect (collectively, the &#8220;<u>Intellectual Property Rights</u>&#8221;).&#160; None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the
        Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement.&#160; Neither the Company nor any Subsidiary has received, since the
        date of the latest audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not
        have or reasonably be expected to not have a Material Adverse Effect.&#160; To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual
        Property Rights.&#160; The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the
        aggregate, reasonably be expected to have a Material Adverse Effect.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">13</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(q)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Insurance</u>.&#160; The Company and the Subsidiaries are insured by insurers of recognized financial responsibility against such losses and risks and in such amounts
        as are prudent and customary in the businesses in which the Company and the Subsidiaries are engaged, including, but not limited to, directors and officers insurance coverage at least equal to the aggregate Subscription Amount.&#160; Neither the Company
        nor any Subsidiary has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business
        without a significant increase in cost.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(r)&#160;&#160; &#160;&#160;&#160;&#160; &#160;&#160; <u>Transactions With Affiliates and Employees</u>.&#160; Except as set forth on <u>Schedule 3.1(r)</u>, none of the officers or directors of the Company or any
        Subsidiary and, to the knowledge of the Company, none of the employees of the Company or any Subsidiary is presently a party to any transaction with the Company or any Subsidiary (other than for services as employees, officers and directors),
        including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, providing for the borrowing of money from or lending of money to or otherwise
        requiring payments to or from any officer, director or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee, stockholder,
        member or partner, in each case in excess of $120,000 other than for (i) payment of salary or consulting fees for services rendered, (ii) reimbursement for expenses incurred on behalf of the Company and (iii) other employee benefits, including
        stock option agreements under any stock option plan of the Company.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(s)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Sarbanes-Oxley; Internal Accounting Controls</u>.&#160; The Company and the Subsidiaries are in compliance with any and all applicable requirements of the
        Sarbanes-Oxley Act of 2002 that are effective as of the date hereof, and any and all applicable rules and regulations promulgated by the Commission thereunder that are effective as of the date hereof and as of the Closing Date.&#160; <font style="color: #000000;">The Company and the Subsidiaries maintain a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management&#8217;s general or specific
          authorizations, (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management&#8217;s
          general or specific authorization, and (iv) the recorded accountability for assets is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company and the Subsidiaries have
          established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Company and the Subsidiaries and designed such disclosure controls and procedures to ensure that information required to be
          disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission&#8217;s rules and forms.&#160; The Company&#8217;s certifying officers have
          evaluated the effectiveness of the disclosure controls and procedures of the Company and the Subsidiaries as of the end of the period covered by the most recently filed periodic report under the Exchange Act (such date, the &#8220;</font><font style="color: #000000;"><u>Evaluation Date</u></font><font style="color: #000000;">&#8221;).&#160; The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying officers about the effectiveness of
          the disclosure controls and procedures based on their evaluations as of the Evaluation Date.&#160; Since the Evaluation Date, there have been no changes in the internal control over financial reporting (as such term is defined in the Exchange Act) of
          the Company and its Subsidiaries that have materially affected, or is reasonably likely to materially affect, the internal control over financial reporting of the Company and its Subsidiaries.</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">14</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(t)&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; <u>Certain Fees</u>.&#160; Except as set forth in the Prospectus Supplement, no brokerage or finder&#8217;s fees or commissions are or will be payable by the Company or any
        Subsidiary to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by the Transaction Documents.&#160; The Purchasers shall have no obligation with
        respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section that may be due in connection with the transactions contemplated by the Transaction Documents.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(u)&#160;&#160;&#160;&#160; &#160; &#160;&#160; <u>Investment Company</u>. The Company is not, and is not an Affiliate of, and immediately after receipt of payment for the Debentures, will not be or be an
        Affiliate of, an &#8220;investment company&#8221; within the meaning of the Investment Company Act of 1940, as amended.&#160; The Company shall conduct its business in a manner so that it will not become an &#8220;investment company&#8221; subject to registration under the
        Investment Company Act of 1940, as amended.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(v)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Registration Rights</u>.&#160; No Person has any right to cause the Company or any Subsidiary to effect the registration under the Securities Act of any securities
        of the Company or any Subsidiary.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(w)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Listing and Maintenance Requirements</u>.&#160; The Common Stock is registered pursuant to Section 12(b) or 12(g) of the Exchange Act, and the Company has taken no
        action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act nor has the Company received any notification that the Commission is contemplating terminating
        such registration.&#160; The Company has not, in the 12 months preceding the date hereof, received notice from any Trading Market on which the Common Stock is or has been listed or quoted to the effect that the Company is not in compliance with the
        listing or maintenance requirements of such Trading Market. The Company is, and has no reason to believe that it will not in the foreseeable future continue to be, in compliance with all such listing and maintenance requirements. The Common Stock
        is currently eligible for electronic transfer through the Depository Trust Company or another established clearing corporation and the Company is current in payment of the fees to the Depository Trust Company (or such other established clearing
        corporation) in connection with such electronic transfer.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">15</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(x)&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Application of Takeover Protections</u>.&#160; The Company and the Board of Directors have taken all necessary action, if any, in order to render inapplicable any
        control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or other similar anti&#8209;takeover provision under the Company&#8217;s certificate of incorporation (or similar charter documents) or the laws
        of its state of incorporation that is or could become applicable to the Purchasers as a result of the Purchasers and the Company fulfilling their obligations or exercising their rights under the Transaction Documents, including without limitation
        as a result of the Company&#8217;s issuance of the Debentures or any Conversion Shares and the Purchasers&#8217; ownership of the Debentures or any Conversion Shares.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(y)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Disclosure</u>.&#160; Except with respect to the material terms and conditions of the transactions contemplated by the Transaction Documents, the Company confirms that
        neither it nor any other Person acting on its behalf has provided any of the Purchasers or their agents or counsel with any information that it believes constitutes or might constitute material, non-public information which is not otherwise
        disclosed in the Prospectus Supplement.&#160;&#160; The Company understands and confirms that the Purchasers will rely on the foregoing representation in effecting transactions in securities of the Company.&#160; All of the disclosure furnished by or on behalf of
        the Company to the Purchasers regarding the Company and its Subsidiaries, their respective businesses and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, is true and correct and does not contain any
        untrue statement of a material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. The press releases disseminated by the
        Company during the twelve months preceding the date of this Agreement taken as a whole do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the
        statements therein, in the light of the circumstances under which they were made and when made, not misleading.&#160; The Company acknowledges and agrees that no Purchaser makes or has made any representations or warranties with respect to the
        transactions contemplated hereby other than those specifically set forth in Section 3.2 hereof.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><a name="z_Toc430524909"></a><a name="z_Toc449254780"></a>(z)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>No Integrated Offering</u>. Assuming the accuracy of the Purchasers&#8217; representations and warranties
        set forth in Section 3.2, neither the Company, nor any of its Affiliates, nor any Person acting on its or their behalf has, directly or indirectly, made any offers or sales of any security or solicited any offers to buy any security, under
        circumstances that would cause this offering of the Debentures to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any Trading Market on which any of the securities of the Company
        are listed or designated.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">16</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(aa)&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Solvency</u>.&#160; Based on the consolidated financial condition of the Company as of the Closing Date, after giving effect to the receipt by the Company of the
        proceeds from the sale of the Debentures hereunder, (i) the fair saleable value of the Company&#8217;s assets exceeds the amount that will be required to be paid on or in respect of the Company&#8217;s existing debts and other liabilities (including known
        contingent liabilities) as they mature, (ii) the Company&#8217;s assets do not constitute unreasonably small capital to carry on its business as now conducted and as proposed to be conducted including its capital needs taking into account the particular
        capital requirements of the business conducted by the Company, consolidated and projected capital requirements and capital availability thereof, and (iii) the current cash flow of the Company, together with the proceeds the Company would receive,
        were it to liquidate all of its assets, after taking into account all anticipated uses of the cash, would be sufficient to pay all amounts on or in respect of its liabilities when such amounts are required to be paid.&#160; The Company does not intend
        to incur debts beyond its ability to pay such debts as they mature (taking into account the timing and amounts of cash to be payable on or in respect of its debt).&#160; The Company has no knowledge of any facts or circumstances which lead it to believe
        that it will file for reorganization or liquidation under the bankruptcy or reorganization laws of any jurisdiction within one year from the Closing Date.&#160; <u>Schedule 3.1(aa)</u> sets forth as of the date hereof all outstanding secured and
        unsecured Indebtedness of the Company or any Subsidiary, or for which the Company or any Subsidiary has commitments.&#160; For the purposes of this Agreement, &#8220;<u>Indebtedness</u>&#8221; means (x) any liabilities for borrowed money or amounts owed in excess
        of $250,000 (other than trade accounts payable incurred in the ordinary course of business), (y) all guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same are or should be reflected
        in the Company&#8217;s consolidated balance sheet (or the notes thereto), except guaranties by endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business; and (z) the present value of any
        lease <a name="z_Toc497644622"></a>payments in excess of $250,000 due under leases required to be capitalized in accordance with GAAP.&#160; Neither the Company nor any Subsidiary is in default with respect to any Indebtedness.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><a name="z_DV_C40"></a>(bb) &#160; &#160;&#160;&#160;&#160;&#160; <u>Tax Status</u>.&#160; Except for matters that would not, individually or in the aggregate, have or reasonably be expected to result in a
        Material Adverse Effect, the Company and its Subsidiaries each (i) has made or filed all United States federal, state and local income and all foreign income and franchise tax returns, reports and declarations required by any jurisdiction to which
        it is subject, (ii) has paid all taxes and other governmental assessments and charges that are material in amount, shown or determined to be due on such returns, reports and declarations and (iii) has set aside on its books provision reasonably
        adequate for the payment of all material taxes for periods subsequent to the periods to which such returns, reports or declarations apply.&#160; There are no unpaid taxes in any material amount claimed to be due by the taxing authority of any
        jurisdiction, and the officers of the Company or of any Subsidiary know of no basis for any such claim.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(cc) &#160; &#160;&#160;&#160;&#160;&#160; <u>Foreign Corrupt Practices</u>.&#160; Neither the Company nor any Subsidiary, nor to the knowledge of the Company or any Subsidiary, any agent or other person acting
        on behalf of the Company or any Subsidiary, has (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment
        to foreign or domestic government officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by the Company or any Subsidiary (or made by any person
        acting on its behalf of which the Company is aware) which is in violation of law, or (iv) violated in any material respect any provision of FCPA.</div>
      <div>&#160;</div>
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        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">17</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(dd)&#160;&#160; &#160; &#160;&#160; <u>Accountants</u>.&#160; The Company&#8217;s accounting firm is RAM Associates, CPA.&#160; To the knowledge and belief of the Company, such accounting firm (i) is a registered
        public accounting firm subject to PCAOB audit, as required by the Exchange Act and (ii) shall express its opinion with respect to the financial statements to be included in the Company&#8217;s Annual Report for the fiscal year ending December 31, 2019.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ee)&#160;&#160;&#160; &#160; &#160;&#160; <u>Acknowledgment Regarding Purchasers&#8217; Purchase of Securities</u>.&#160; The Company acknowledges and agrees that each of the Purchasers is acting solely in the
        capacity of an arm&#8217;s length purchaser with respect to the Transaction Documents and the transactions contemplated thereby.&#160; The Company further acknowledges that no Purchaser is acting as a financial advisor or fiduciary of the Company (or in any
        similar capacity) with respect to the Transaction Documents and the transactions contemplated thereby and any advice given by any Purchaser or any of their respective representatives or agents in connection with the Transaction Documents and the
        transactions contemplated thereby is merely incidental to the Purchasers&#8217; purchase of the Debentures.&#160; The Company further represents to each Purchaser that the Company&#8217;s decision to enter into this Agreement and the other Transaction Documents has
        been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ff)&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u><font style="color: #000000;">Acknowledgment Regarding Purchaser&#8217;s Trading Activity</font></u><font style="color: #000000;">.&#160; Anything in this Agreement or
          elsewhere herein to the contrary notwithstanding (except for Sections 3.2(e) and 4.12 hereof), it is understood and acknowledged by the Company that: (i) none of the Purchasers has been asked by the Company to agree, nor has any Purchaser agreed,
          to desist from purchasing or selling, long and/or short, securities of the Company, or &#8220;derivative&#8221; securities based on securities issued by the Company or to hold the Debentures or Conversion </font>Shares<font style="color: #000000;"> for any
          specified term; (ii) past or future open market or other transactions by any Purchaser, specifically including, without limitation, Short Sales or &#8220;derivative&#8221; transactions, before or after the closing of this or future private placement
          transactions, may negatively impact the market price of the Company&#8217;s publicly-traded securities; (iii) any Purchaser, and counter-parties in &#8220;derivative&#8221; transactions to which any such Purchaser is a party, directly or indirectly, presently may
          have a &#8220;short&#8221; position in the Common Stock, and (iv) each Purchaser shall not be deemed to have any affiliation with or control over any arm&#8217;s length counter-party in any &#8220;derivative&#8221; transaction.&#160; </font>The Company further understands and
        acknowledges that (y) one or more Purchasers may engage in hedging activities at various times during the period that the Securities are outstanding, and (z) such hedging activities (if any) could reduce the value of the existing stockholders'
        equity interests in the Company at and after the time that the hedging activities are being conducted.&#160; The Company acknowledges that such aforementioned hedging activities do not constitute a breach of any of the Transaction Documents.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(gg)&#160;&#160;&#160; &#160; &#160;&#160; <u>Regulation M Compliance</u>.&#160; The Company has not, and to its knowledge no one acting on its behalf has, (i) taken, directly or indirectly, any action designed
        to cause or to result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of any of the Securities, (ii) sold, bid for, purchased, or, paid any compensation for soliciting purchases of,
        any Common Stock, or (iii) paid or agreed to pay to any Person any compensation for soliciting another to purchase any other securities of the Company, other than, in the case of clauses (ii) and (iii), compensation paid to the Company&#8217;s Financial
        Advisor in connection with advice to the Company in connection with the Transaction Documents.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">18</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(hh) &#160; &#160;&#160;&#160;&#160;&#160; <u>Stock Option Plans</u>. Each stock option granted by the Company under the Company&#8217;s stock option plan was granted (i) in accordance with the terms of the
        Company&#8217;s stock option plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the
        Company&#8217;s stock option plan has been backdated.&#160; The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock
        options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ii)&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Office of Foreign Assets Control</u>.&#160; Neither the Company nor any Subsidiary nor, to the Company's knowledge, any director, officer, agent, employee or
        affiliate of the Company or any Subsidiary is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (&#8220;<u>OFAC</u>&#8221;).</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(jj)&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>U.S. Real Property Holding Corporation</u>.&#160; The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of
        the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser&#8217;s request.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(kk)&#160;&#160;&#160; &#160; &#160; <u>Bank Holding Company Act</u>.&#160; Neither the Company nor any of its Subsidiaries or Affiliates is subject to the Bank Holding Company Act of 1956, as amended (the &#8220;<u>BHCA</u>&#8221;)




        and to regulation by the Board of Governors of the Federal Reserve System (the &#8220;<u>Federal Reserve</u>&#8221;).&#160; Neither the Company nor any of its Subsidiaries or Affiliates owns or controls, directly or indirectly, five percent (5%) or more of the
        outstanding shares of any class of voting securities or twenty-five percent or more of the total equity of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.&#160; Neither the Company nor any of its Subsidiaries
        or Affiliates exercises a controlling influence over the management or policies of a bank or any entity that is subject to the BHCA and to regulation by the Federal Reserve.</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(ll)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Money Laundering</u>.&#160; 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, applicable money laundering statutes and applicable rules and regulations thereunder (collectively, the &#8220;<u>Money Laundering Laws</u>&#8221;),




        and no Action or Proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any Subsidiary with respect to the Money Laundering Laws is pending or, to the knowledge of the Company or any
        Subsidiary, threatened.</div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">19</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">3.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Representations and Warranties of the Purchasers</u>.&#160; Each Purchaser, for itself and for no other Purchaser,
          hereby represents and warrants as of the date hereof and as of the Closing Date to the Company as follows (unless as of a specific date therein, in which case they shall be accurate as of such date):</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 51pt; margin-left: 21pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="color: #000000;"><u>Organization; Authority</u>.&#160; Such Purchaser is either an individual or an entity duly
          incorporated or formed, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation with full right, corporate, partnership limited liability company or similar power and authority to enter into and
          to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of the Transaction Documents and performance by such Purchaser of the
          transactions contemplated by the Transaction Documents have been duly authorized by all necessary corporate, partnership, limited liability company or similar action, as applicable, on the part of such Purchaser.&#160; Each Transaction Document to
          which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in
          accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors&#8217; rights generally, (ii)
          as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and contribution provisions may be limited by applicable law.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 51pt; margin-left: 21pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;"><u>Understandings or Arrangements</u>.&#160; Such Purchaser is acquiring the Securities as principal
          for its own account and has no direct or indirect arrangement or understandings with any other persons to distribute or regarding the distribution of such Securities (this representation and warranty not limiting such Purchaser&#8217;s right to sell
          the Securities pursuant to the Registration Statement or otherwise in compliance with applicable federal and state securities laws).&#160; Such Purchaser is acquiring the Securities hereunder in the ordinary course of its business.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 51pt; margin-left: 21pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160; &#160; &#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Purchaser Status</u>.&#160; At the time such Purchaser was offered the Debentures, it was, and as
          of the date hereof it is either: (i) an &#8220;accredited investor&#8221; as defined in Rule 501(a)(1), (a)(2), (a)(3), (a)(7) or (a)(8) under the Securities Act or (ii) a &#8220;qualified institutional buyer&#8221; as defined in Rule 144A(a) under the Securities Act.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 51pt; margin-left: 21pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Experience of Such Purchaser</u>.&#160; Such Purchaser, either alone or together with its
          representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the Debentures, and has so evaluated the merits and risks
          of such investment.&#160; Such Purchaser is able to bear the economic risk of an investment in the Debentures and, at the present time, is able to afford a complete loss of such investment.<a name="z_DV_C18"></a></font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">20</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 51pt; margin-left: 21pt;"><font style="color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #000000;"><u>Certain Transactions and Confidentiality</u>.&#160; Other than consummating the transactions
          contemplated hereunder, such Purchaser has not, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, directly or indirectly executed any purchases or sales, including Short Sales,&#160;of the securities of the
          Company during the period commencing as of the time that such Purchaser first received a term sheet (written or oral) from the Company or any other Person representing the Company setting forth the material terms of the transactions contemplated
          hereunder and ending immediately prior to the execution hereof<a name="z_DV_M122"></a>. Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate portfolio managers manage separate
          portions of such Purchaser&#8217;s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser&#8217;s assets, the representation set forth above shall only
          apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Securities covered by this Agreement.&#160; Other than to other Persons party to this Agreement or to such Purchaser&#8217;s
          representatives, including, without limitation, its officers, directors, partners, legal and other advisors, employees, agents and Affiliates, such Purchaser has maintained the confidentiality of all disclosures made to it in connection with this
          transaction (including the existence and terms of this transaction).&#160;&#160; Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to
          locating or borrowing shares in order to effect Short Sales or similar transactions in the future.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify;">The Company acknowledges and agrees that the representations contained in this Section 3.2 shall not modify, amend or affect such Purchaser&#8217;s right to rely on the Company&#8217;s representations and warranties contained in
        this Agreement or any representations and warranties contained in any other Transaction Document or any other document or instrument executed and/or delivered in connection with this Agreement or the consummation of the transactions contemplated
        hereby. Notwithstanding the foregoing, for the avoidance of doubt, nothing contained herein shall constitute a representation or warranty, or preclude any actions, with respect to locating or borrowing shares in order to effect Short Sales or
        similar transactions in the future.</div>
      <div>&#160;</div>
      <div style="text-align: center;"><font style="font-weight: bold;">ARTICLE IV.</font><br>
        OTHER AGREEMENTS OF THE PARTIES</div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.1</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Furnishing of Information</u>.&#160; Until the time that no Purchaser owns any unconverted Debentures, the Company
          covenants to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act even if the Company is not then
          subject to the reporting requirements of the Exchange Act.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.2</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Integration</u>.&#160; The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in
          respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Debentures for purposes of the rules and regulations of any Trading Market such that it would require shareholder
          approval prior to the closing of such other transaction unless shareholder approval is obtained before the closing of such subsequent transaction.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.3</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Conversion Procedures</u>.&#160; The form of Notice of Conversion included in the Debentures<font style="font-weight: bold;">&#160;</font>set forth the totality of the procedures required of the Purchasers in order to convert the Debentures.&#160; Without limiting the preceding sentences, no ink-original Notice of Conversion shall be required, nor shall any medallion
          guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required in order to convert the Debentures.&#160; No additional legal opinion, other information or instructions shall be required of the Purchasers to convert
          their Debentures.&#160; The Company shall honor conversions of the Debentures and shall deliver Conversion Shares in accordance with the terms, conditions and time periods set forth in the Transaction Documents.</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">21</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.4&#160;</font> &#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Securities Laws Disclosure; Publicity</u>.&#160; The Company shall (a) by the Disclosure Time, issue a press release
          disclosing the material terms of the transactions contemplated hereby, and (b) file a Current Report on Form 8-K, including the Transaction Documents as exhibits thereto, with the Commission within the time required by the Exchange Act.&#160; From and
          after the issuance of such press release, the Company represents to the Purchasers that it shall have publicly disclosed all material, non-public information delivered to any of the Purchasers by the Company or any of its Subsidiaries, or any of
          their respective officers, directors, employees or agents in connection with the transactions contemplated by the Transaction Documents.&#160; In addition, effective upon the issuance of such press release, the Company acknowledges and agrees that any
          and all confidentiality or similar obligations under any agreement, whether written or oral, between the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates on the one hand, and any of
          the Purchasers or any of their Affiliates on the other hand, shall terminate. The Company and each Purchaser shall consult with each other in issuing any other press releases with respect to the transactions contemplated hereby, and neither the
          Company nor any Purchaser shall issue any such press release nor otherwise make any such public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent of each
          Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be withheld or delayed, except if such disclosure is required by law, in which case the disclosing party shall promptly provide the other party with
          prior notice of such public statement or communication.&#160; Notwithstanding the foregoing, the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory
          agency or Trading Market, without the prior written consent of such Purchaser, except (a) as required by federal securities law in connection with the filing of final Transaction Documents with the Commission and (b) to the extent such disclosure
          is required by law or Trading Market regulations, in which case the Company shall provide the Purchasers with prior notice of such disclosure permitted under this clause (b).</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.5</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; <font style="color: #000000;"><u>Shareholder Rights Plan</u>.&#160; No claim will be made or enforced by the Company or, with the consent of the
          Company, any other Person, that any Purchaser is an &#8220;<u>Acquiring Person</u>&#8221; under any control share acquisition, business combination, poison pill (including any distribution under a rights agreement) or similar anti-takeover plan or
          arrangement in effect or hereafter adopted by the Company, or that any Purchaser could be deemed to trigger the provisions of any such plan or arrangement, by virtue of receiving Conversion Shares under the Transaction Documents or under any
          other agreement between the Company and the Purchasers.</font></div>
      <div>&#160;</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">22</font></div>
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      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.6</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Non-Public Information</u>.&#160; Except with respect to the material terms and conditions of the transactions
          contemplated by the Transaction Documents, which shall be disclosed pursuant to Section 4.3, the Company covenants and agrees that neither it, nor any other Person acting on its behalf will provide any Purchaser or its agents or counsel with any
          information that constitutes, or the Company reasonably believes constitutes, material non-public information, unless prior thereto such Purchaser shall have consented to the receipt of such information and agreed with the Company to keep such
          information confidential.&#160; The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting transactions in securities of the Company.&#160; To the extent that the Company delivers any material,
          non-public information to a Purchaser without such Purchaser&#8217;s consent, the Company hereby covenants and agrees that such Purchaser shall not have any duty of confidentiality to the Company, any of its Subsidiaries, or any of their respective
          officers, directors, agents, employees or Affiliates, or a duty to the Company, any of its Subsidiaries or any of their respective officers, directors, agents, employees or Affiliates not to trade on the basis of, such material, non-public
          information, provided that the Purchaser shall remain subject to applicable law. To the extent that any notice provided pursuant to any Transaction Document constitutes, or contains, material, non-public information regarding the Company or any
          Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.&#160; The Company understands and confirms that each Purchaser shall be relying on the foregoing covenant in effecting
          transactions in securities of the Company.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.7</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="color: #000000;"><u>Use of Proceeds</u>.&#160; Except as set forth on <u>Schedule 4.6</u> attached hereto, the Company shall use the net
          proceeds from the sale of the Debentures hereunder for working capital purposes and shall not use such proceeds: (a) for the satisfaction of any portion of the Company&#8217;s debt (other than payment of trade payables in the ordinary course of the
          Company&#8217;s business and prior practices), (b) for the redemption of any Common Stock or Common Stock Equivalents, (c) for the settlement of any outstanding litigation or (d) in violation of FCPA or OFAC regulations.</font></div>
      <div>&#160;</div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.8</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: #000000;"><u>Indemnification of Purchasers</u>.&#160;&#160; Subject to the provisions of this Section 4.7, the Company will indemnify and
          hold each Purchaser and its directors, officers, shareholders, members, partners, employees and agents (and any other Persons with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other
          title), each Person who controls such Purchaser (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, shareholders, agents, members, partners or employees (and any other Persons
          with a functionally equivalent role of a Person holding such titles notwithstanding a lack of such title or any other title) of such controlling persons (each, a &#8220;<u>Purchaser Party</u>&#8221;) harmless from any and all losses, liabilities,
          obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys&#8217; fees and costs of investigation that any such Purchaser Party may suffer or incur as a
          result of or relating to (a) any breach of any of the representations, warranties, covenants or agreements made by the Company in this Agreement or in the other Transaction Documents or (b) any action instituted against the Purchaser Parties in
          any capacity, or any of them or their respective Affiliates, by any stockholder of the Company who is not an Affiliate of such Purchaser Party, with respect to any of the transactions contemplated by the Transaction Documents (unless such action
          is solely based upon a material breach of such Purchaser Party&#8217;s representations, warranties or covenants under the Transaction Documents or any agreements or understandings such Purchaser Party may have with any such stockholder or any
          violations by such Purchaser Party of state or federal securities laws or any conduct by such Purchaser Party which is finally judicially determined to constitute fraud, gross negligence or willful misconduct).&#160; If any action shall be brought
          against any Purchaser Party in respect of which indemnity may be sought pursuant to this Agreement, such Purchaser Party shall promptly notify the Company in writing, and the Company shall have the right to assume the defense thereof with counsel
          of its own choosing reasonably acceptable to the Purchaser Party.&#160; Any Purchaser Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be
          at the expense of such Purchaser Party except to the extent that (i) the employment thereof has been specifically authorized by the Company in writing, (ii) the Company has failed after a reasonable period of time to assume such defense and to
          employ counsel or (iii) in such action there is, in the reasonable opinion of counsel, a material conflict on any material issue between the position of the Company and the position of such Purchaser Party, in which case the Company shall be
          responsible for the reasonable fees and expenses of no more than one such separate counsel.&#160; The Company will not be liable to any Purchaser Party under this Agreement (y) for any settlement by a Purchaser Party effected without the Company&#8217;s
          prior written consent, which shall not be unreasonably withheld or delayed; or (z) to the extent, but only to the extent that a loss, claim, damage or liability is attributable to any Purchaser Party&#8217;s breach of any of the representations,
          warranties, covenants or agreements made by such Purchaser Party in this Agreement or in the other Transaction Documents.<a name="OLE_LINK1"></a><a name="OLE_LINK2"></a> The indemnification required by this Section 4.7 shall be made by periodic
          payments of the amount thereof during the course of the investigation or defense, as and when bills are received or are incurred. The indemnity agreements contained herein shall be in addition to any cause of action or similar right of any
          Purchaser Party against the Company or others and any liabilities the Company may be subject to pursuant to law.</font></div>
      <div style="text-align: justify;"><font style="color: rgb(0, 0, 0);"> <br>
        </font></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">23</font></div>
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      </div>
      <div>
        <div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.9</font>&#160;&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>L</u><a name="z_Toc430524930"></a><a name="z_Toc449254797"></a><u>isting of Common Stock</u>. The
              Company hereby agrees to use best efforts to maintain the listing or quotation of the Common Stock on the Trading Market on which it is currently listed, and concurrently with the Closing, the Company shall apply to list or quote all of the
              Conversion Shares on such Trading Market and promptly secure the listing of all of the Conversion Shares on such Trading Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market,
              it will then include in such application all of the Conversion Shares, and will take such other action as is necessary to cause all of the Conversion Shares to be listed or quoted on such other Trading Market as promptly as possible.&#160; The
              Company will then take all action reasonably necessary to continue the listing and trading of its Common Stock on a Trading Market and will comply in all respects with the Company&#8217;s reporting, filing and other obligations under the bylaws or
              rules of the Trading Market.&#160; The Company agrees to maintain the eligibility of the Common Stock for electronic transfer through the Depository Trust Company or another established clearing corporation, including, without limitation, by
              timely payment of fees to the Depository Trust Company or such other established clearing corporation in connection with such electronic transfer.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.10</font>&#160;&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Participation in Future Financing</u>.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; From the date hereof until the date that the Debentures are repaid in full or converted in full, upon any issuance by the Company or any of its Subsidiaries
            of Common Stock or Common Stock Equivalents for cash consideration, Indebtedness or a combination of units thereof (a &#8220;<u>Subsequent Financing</u>&#8221;), subject to any prior such rights previously granted by the Company, each Purchaser shall have
            the right to participate in up to an amount of the Subsequent Financing equal to 100% of the Subsequent Financing (the &#8220;<u>Participation Maximum</u>&#8221;) on the same terms, conditions and price provided for in the Subsequent Financing.</div>
          <div>&#160;</div>
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            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">24</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160;&#160; &#160; &#160;&#160; &#160; At least five (5) Trading Days prior to the closing of the Subsequent Financing, the Company shall deliver to each Purchaser a written notice of its intention
            to effect a Subsequent Financing (&#8220;<u>Pre-Notice</u>&#8221;), which Pre-Notice shall ask such Purchaser if it wants to review the details of such financing (such additional notice, a &#8220;<u>Subsequent Financing Notice</u>&#8221;).&#160; Upon the request of a
            Purchaser, and only upon a request by such Purchaser, for a Subsequent Financing Notice, the Company shall promptly, but no later than one (1) Trading Day after such request, deliver a Subsequent Financing Notice to such Purchaser.&#160; The
            Subsequent Financing Notice shall describe in reasonable detail the proposed terms of such Subsequent Financing, the amount of proceeds intended to be raised thereunder and the Person or Persons through or with whom such Subsequent Financing is
            proposed to be effected and shall include a term sheet or similar document relating thereto as an attachment.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; Any Purchaser desiring to participate in such Subsequent Financing must provide written notice to the Company by not later than 5:30 p.m. (New York City time) on
            the fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day after all of the Purchasers have received the Pre-Notice that such Purchaser is willing to participate in the Subsequent Financing, the
            amount of such Purchaser&#8217;s participation, and representing and warranting that such Purchaser has such funds ready, willing, and available for investment on the terms set forth in the Subsequent Financing Notice.&#160; If the Company receives no
            such notice from a Purchaser as of such fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day, such Purchaser shall be deemed to have notified the Company that it does not elect to participate.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;If by 5:30 p.m. (New York City time) on the fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day after all of
            the Purchasers have received the Pre-Notice, notifications by the Purchasers of their willingness to participate in the Subsequent Financing (or to cause their designees to participate) is, in the aggregate, less than the total amount of the
            Subsequent Financing, then the Company may effect the remaining portion of such Subsequent Financing on the terms and with the Persons set forth in the Subsequent Financing Notice.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(e)&#160;&#160;&#160;&#160;&#160; &#160;&#160; &#160; If by 5:30 p.m. (New York City time) on the fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day after all
            of the Purchasers have received the Pre-Notice, the Company receives responses to a Subsequent Financing Notice from Purchasers seeking to purchase more than the aggregate amount of the Participation Maximum, each such Purchaser shall have the
            right to purchase its Pro Rata Portion (as defined below) of the Participation Maximum.&#160; &#8220;<u>Pro Rata Portion</u>&#8221; means the ratio of (x) the Subscription Amount of Debentures purchased on the Closing Date by a Purchaser participating under
            this Section 4.9 and (y) the sum of the aggregate Subscription Amounts of Debentures purchased on the Closing Date by all Purchasers participating under this Section 4.9.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(f)&#160;&#160;&#160; &#160;&#160; &#160;&#160;&#160; The Company must provide the Purchasers with a second Subsequent Financing Notice, and the Purchasers will again have the right of participation set forth above
            in this Section 4.9, if the Subsequent Financing subject to the initial Subsequent Financing Notice is not consummated for any reason on the terms set forth in such Subsequent Financing Notice within thirty (30) Trading Days after the date of
            the initial Subsequent Financing Notice.</div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">25</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(g)&#160;&#160;&#160; &#160; &#160; &#160;&#160; The Company and each Purchaser agree that if any Purchaser elects to participate in the Subsequent Financing, the transaction documents related to the
            Subsequent Financing shall not include any term or provision that, directly or indirectly, will, or is intended to, exclude one or more of the Purchasers from participating in a Subsequent Financing, including, but not limited to, provisions
            whereby such Purchaser shall be required to agree to any restrictions on trading as to any of the Securities purchased hereunder 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, this Agreement, without the prior written consent of such Purchaser.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(h)&#160;&#160;&#160;&#160; &#160; &#160;&#160; Notwithstanding anything to the contrary in this Section 4.10 and unless otherwise agreed to by such Purchaser, the Company shall either confirm in writing to
            such Purchaser that the transaction with respect to the Subsequent Financing has been abandoned or shall publicly disclose its intention to issue the securities in the Subsequent Financing, in either case in such a manner such that such
            Purchaser will not be in possession of any material, non-public information, by the tenth (10th) Business Day following delivery of the Subsequent Financing Notice.&#160; If by such tenth (10th) Business Day, no public disclosure regarding a
            transaction with respect to the Subsequent Financing has been made, and no notice regarding the abandonment of such transaction has been received by such Purchaser, such transaction shall be deemed to have been abandoned and such Purchaser
            shall not be deemed to be in possession of any material, non-public information with respect to the Company or any of its Subsidiaries.</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; Notwithstanding the foregoing, this Section 4.10 shall not apply in respect of <a name="z_DV_M220"></a>an Exempt Issuance<a name="z_DV_M221"></a> or a
            Registered Subsequent Placement.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.11</font>&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><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;<u>Registered Subsequent Placement</u>&#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. Any Purchaser desiring to participate in such Registered Subsequent
              Financing must provide written notice to the Company by 6:30 am (New York City time) on the Trading Day following the date on which the Offer Notice is delivered to such Purchaser (the &#8220;<u>Registered Placement Notice Termination Date</u>&#8221;)
              that such Purchaser is willing to participate in the Registered Subsequent Financing, the amount of such Purchaser&#8217;s participation, and representing and warranting that such Purchaser has such funds ready, willing, and available for
              investment on the terms set forth in such Offer Notice. If the Company receives no such notice from a Purchaser as of such Registered Placement Notice Termination Time, such Purchaser shall be deemed to have notified the Company that it does
              not elect to participate in such Registered Subsequent Financing. The Purchaser shall have the right to participate up to 100% of any such Registered Subsequent Placement.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">26</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.12</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Subsequent Equity Sales</u>.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160; &#160; &#160;&#160; &#160;&#160; From the date hereof until 60 days following the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce
            the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents. Thereafter, until the Debentures have otherwise been paid in full or converted in full, the proceeds from any such issuance of Common Stock, Common
            Stock Equivalents or Indebtedness, shall be used first, to repay the Debentures in full, and any remaining proceeds, at the Company&#8217;s discretion.</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; From the date hereof until the Debentures have been repaid in full or converted in full, the Company shall be prohibited from effecting or entering into an
            agreement to effect any issuance by the Company or any of its Subsidiaries of Common Stock or Common Stock Equivalents (or a combination of units thereof) involving a Variable Rate Transaction.&#160; &#8220;<u>Variable Rate Transaction</u>&#8221; means a
            transaction in which the Company (i) issues or sells any debt or equity securities that are convertible into, exchangeable or exercisable for, or include the right to receive additional shares of Common Stock either (A) at a conversion price,
            exercise price or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the shares of Common Stock at any time after the initial issuance of such debt or equity securities, or (B) with a
            conversion, exercise or exchange price that is subject to being reset at some future date after the initial issuance of such debt or equity security or upon the occurrence of specified or contingent events directly or indirectly related to the
            business of the Company or the market for the Common Stock or (ii) enters into, or effects a transaction under, any agreement, including, but not limited to, an equity line of credit, whereby the Company may issue securities at a future
            determined price.&#160; Any Purchaser shall be entitled to obtain injunctive relief against the Company to preclude any such issuance, which remedy shall be in addition to any right to collect damages.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(c)&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; Notwithstanding the foregoing, this Section 4.12 shall not apply in respect of an Exempt Issuance, except that no Variable Rate Transaction shall be an Exempt
            Issuance.</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.13</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Equal Treatment of Purchasers</u>.&#160; No consideration (including any modification of any Transaction
              Document) shall be offered or paid to any Person to amend or consent to a waiver or modification of any provision of the Transaction Documents unless the same consideration is also offered to all of the parties to such Transaction Document.&#160;
              For clarification purposes, this provision constitutes a separate right granted to each Purchaser by the Company and negotiated separately by each Purchaser, and is intended for the Company to treat the Purchasers as a class and shall not in
              any way be construed as the Purchasers acting in concert or as a group with respect to the purchase, disposition or voting of Conversion Shares or otherwise.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">27</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.14</font>&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Certain Transactions and Confidentiality</u></font><font style="color: rgb(0, 0, 0);">. Each
              Purchaser, severally and not jointly with the other Purchasers, covenants that neither it nor any Affiliate acting on its behalf or pursuant to any understanding with it will execute any purchases or sales, including Short Sales of any of the
              Company&#8217;s securities during the period commencing with the execution of this Agreement and ending at such time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as
              described in Section 4.3.</font>&#160; <font style="color: rgb(0, 0, 0);">Each Purchaser, severally and not jointly with the other Purchasers, covenants that until such time as the transactions contemplated by this Agreement are publicly
              disclosed by the Company pursuant to the initial press release as described in Section 4.3, such Purchaser will maintain the confidentiality of the existence and terms of this transaction and the information included in the Disclosure
              Schedules.&#160; N</font>otwithstanding the foregoing, and notwithstanding anything contained in this Agreement to the contrary, the Company expressly acknowledges and agrees that (i) no Purchaser makes any representation, warranty or covenant
            hereby that it will not engage in effecting transactions in any securities of the Company after the time that the transactions contemplated by this Agreement are first publicly announced pursuant to the initial press release as described in
            Section 4.3, (ii) no Purchaser shall be restricted or prohibited from effecting any transactions in any securities of the Company in accordance with applicable securities laws from and after the time that the transactions contemplated by this
            Agreement are first publicly announced pursuant to the initial press release as described in Section 4.3 and (iii) no Purchaser shall have any duty of confidentiality or duty not to trade in the securities of the Company to the Company or its
            Subsidiaries after the issuance of the initial press release as described in Section 4.3.&#160; <font style="color: rgb(0, 0, 0);">Notwithstanding the foregoing, in the case of a Purchaser that is a multi-managed investment vehicle whereby separate
              portfolio managers manage separate portions of such Purchaser&#8217;s assets and the portfolio managers have no direct knowledge of the investment decisions made by the portfolio managers managing other portions of such Purchaser&#8217;s assets, the
              covenant set forth above shall only apply with respect to the portion of assets managed by the portfolio manager that made the investment decision to purchase the Debentures covered by this Agreement.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">4.15</font>&#160;&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Additional Investment.</u></font></div>
          <div>&#160;</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(a)&#160;&#160;&#160; &#160; &#160;&#160;&#160; From the date hereof until the Debentures have been repaid in full or converted in full, each Purchaser may, in its sole determination, elect to purchase,
            severally and not jointly with the other Purchasers and, subject to the proviso below, in one or more purchases, in the ratio of such Purchaser&#8217;s original Subscription Amount to the original aggregate Subscription Amount of all Purchasers,
            additional&#160; Debentures with a principal amount of up to $500,000 (such securities, the &#8220;<u>Greenshoe Securities</u>&#8221; and such right to receive the Greenshoe Securities pursuant to this Section 4.15, the &#8220;<u>Greenshoe Rights</u>&#8221;).</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">(b)&#160;&#160; &#160;&#160;&#160;&#160;&#160; Any Greenshoe Right exercised by a Purchaser shall close within five (5) Trading Days of a duly delivered exercise notice by the exercising party.&#160; Any additional
            investment in the Greenshoe Securities shall be on terms identical to those set forth in the Transaction Documents, <font style="font-style: italic;">mutatis</font>&#160;<font style="font-style: italic;">mutandis</font>.&#160; In order to effectuate a
            purchase and sale of the Greenshoe Securities, the Company and the Purchasers shall enter into a Securities Purchase Agreement identical to this Agreement, <font style="font-style: italic;">mutatis</font>&#160;<font style="font-style: italic;">mutandis</font>
            and shall include updated disclosure schedules.</div>
          <div><br>
          </div>
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            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">28</font></div>
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          </div>
          <div style="text-align: center; font-weight: bold;">ARTICLE V.</div>
          <div style="text-align: center;">MISCELLANEOUS</div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.1</font>&#160;&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Termination</u>.&#160; This Agreement may be terminated by any Purchaser, as to such Purchaser&#8217;s
              obligations hereunder only and without any effect whatsoever on the obligations between the Company and the other Purchasers, by written notice to the other parties, if the Closing has not been consummated on or before the fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day following the date hereof; <u>provided</u>, <u>however</u>, that no such termination will affect the right of any party to sue for any breach by
              any other party (or parties).</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.2</font>&#160; &#160; &#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Fees and Expenses</u>.&#160; At the Closing, the Company has agreed to reimburse </font>____________<font style="color: rgb(0, 0, 0);"> the non-accountable sum of $25,000 for its legal fees and expenses, Accordingly, in lieu of the foregoing payments, the aggregate amount that</font> ____________<font style="color: rgb(0, 0, 0);"> is to pay for
              the Debentures at the Closing shall be reduced by $25,000 in lieu thereof.&#160; Except as expressly set forth in the Transaction Documents to the contrary, each party shall pay the fees and expenses of its advisers, counsel, accountants and other
              experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.&#160; The Company shall pay all Transfer Agent fees (including, without limitation, any
              fees required for same-day processing of any instruction letter delivered by the Company), stamp taxes and other taxes and duties levied in connection with the delivery of any Debentures to the Purchasers.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.3</font>&#160;&#160; &#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Entire Agreement</u>.&#160; The Transaction Documents, together with the exhibits and schedules thereto,
              the Prospectus and the Prospectus Supplement, contain the entire understanding of the parties with respect to the subject matter hereof and thereof and supersede all prior agreements and understandings, oral or written, with respect to such
              matters, which the parties acknowledge have been merged into such documents, exhibits and schedules.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.4</font>&#160;&#160;&#160;&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Notices</u>.&#160; Any and all notices or other communications or deliveries required or permitted to be
              provided hereunder shall be in writing and shall be deemed given and effective on the earliest of: (a) the time of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment at the
              email address as set forth on the signature pages attached hereto at or prior to 5:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the time of transmission, if such notice or communication is delivered via
              facsimile at the facsimile number or email attachment at the email address as set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (c) the second
              (2<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">nd</sup>) Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service or (d) upon actual receipt by the party to whom
              such notice is required to be given.&#160; The address for such notices and communications shall be as set forth on the signature pages attached hereto. To the extent that any notice provided pursuant to any Transaction Document constitutes, or
              contains, material, non-public information regarding the Company or any Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">29</font></div>
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          </div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.5</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Amendments; Waivers</u>.&#160; No provision of this Agreement may be waived, modified, supplemented or
              amended except in a written instrument signed, in the case of an amendment, by the Company and Purchasers which purchased at least 67% in interest of the then-outstanding principal amount of the Debentures hereunder or, in the case of a
              waiver, by the party against whom enforcement of any such waived provision is sought, provided that if any amendment, modification or waiver disproportionately and adversely impacts a Purchaser (or group of Purchasers), the consent of such
              disproportionately impacted Purchaser (or group of Purchasers) shall also be required.&#160; No waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future
              or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right. Any
              proposed amendment or waiver that disproportionately, materially and adversely affects the rights and obligations of any Purchaser relative to the comparable rights and obligations of the other Purchasers shall require the prior written
              consent of such adversely affected Purchaser. Any amendment effected in accordance with this Section 5.5 shall be binding upon each Purchaser and holder of Debenture or Conversion Shares and the Company.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.6</font>&#160;&#160;&#160; &#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Headings</u>.&#160; The headings herein are for convenience only, do not constitute a part of this
              Agreement and shall not be deemed to limit or affect any of the provisions hereof.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.7</font>&#160; &#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Successors and Assigns</u>.&#160; This Agreement shall be binding upon and inure to the benefit of the
              parties and their successors and permitted assigns.&#160; The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of each Purchaser (other than by merger).&#160; Any Purchaser may assign any or
              all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Debentures, provided that such transferee agrees in writing to be bound, with respect to the transferred Debentures, by the provisions of the
              Transaction Documents that apply to the &#8220;Purchasers.&#8221;</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.8</font>&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);"><u>No Third-Party Beneficiaries</u>.&#160; The Financial Advisor shall be the third party beneficiary of the
              representations and warranties of the Company in Section 3.1 and the representations and warranties of the Purchasers in Section 3.2.&#160; This Agreement is intended for the benefit of the parties hereto and their respective successors and
              permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person, except as otherwise set forth in Section 4.7 and this Section 5.8.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.9</font>&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Governing Law</u>.&#160; All questions concerning the construction, validity, enforcement and
              interpretation of the Transaction Documents shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof.&#160; Each party agrees that
              all legal Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates,
              directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the state and federal courts sitting in the City of New York.&#160; 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 herewith or with any transaction contemplated hereby or discussed herein (including with respect
              to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any Action or Proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such Action
              or Proceeding is improper or is an inconvenient venue for such Proceeding.&#160; Each party hereby irrevocably waives personal service of process and consents to process being served in any such Action or Proceeding by mailing a copy thereof via
              registered or certified mail or overnight delivery (with evidence of delivery) 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.&#160; Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.&#160;&#160; If any party shall commence an Action or Proceeding to enforce any provisions of the
              Transaction Documents, then, in addition to the obligations of the Company under Section 4.7, the prevailing party in such Action or Proceeding shall be reimbursed by the non-prevailing party for its reasonable attorneys&#8217; fees and other costs
              and expenses incurred with the investigation, preparation and prosecution of such Action or Proceeding.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">30</font></div>
            <div style="page-break-after:always;" id="DSPFPageBreak">
              <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-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.10</font>&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Survival</u>.&#160; The representations and warranties contained herein shall survive the Closing and the delivery of the
              Debentures.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.11</font>&#160;&#160;&#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Execution</u>.&#160; This Agreement may be executed in two or more counterparts, all of which when taken
              together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart.&#160;
              In the event that any signature is delivered by facsimile transmission or by e-mail delivery of a &#8220;.pdf&#8221; format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is
              executed) with the same force and effect as if such facsimile or &#8220;.pdf&#8221; signature page were an original thereof.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.12</font> &#160; &#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Severability</u>.&#160; If any term, provision, covenant or restriction of this Agreement is held by a
              court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired
              or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or
              restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared
              invalid, illegal, void or unenforceable.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.13</font> &#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Rescission and Withdrawal Right</u>.&#160; Notwithstanding anything to the contrary contained in (and
              without limiting any similar provisions of) any of the other Transaction Documents, whenever any Purchaser exercises a right, election, demand or option under a Transaction Document and the Company does not timely perform its related
              obligations within the periods therein provided, then such Purchaser may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company, any relevant notice, demand or election in whole or in part without
              prejudice to its future actions and rights.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.14</font>&#160;&#160;&#160;&#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Replacement of Debentures</u>.&#160; If any certificate or instrument evidencing any Debentures is
              mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof (in the case of mutilation), or in lieu of and substitution therefor, a new certificate or
              instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction.&#160; The applicant for a new certificate or instrument under such circumstances shall also pay any reasonable third-party
              costs (including customary indemnity) associated with the issuance of such replacement Debentures.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">31</font></div>
            <div style="page-break-after:always;" id="DSPFPageBreak">
              <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="color: rgb(0, 0, 0);">5.15&#160;</font> &#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Remedies</u>.&#160; In addition to being entitled to exercise all rights provided herein or granted by
              law, including recovery of damages, each of the Purchasers and the Company will be entitled to specific performance under the Transaction Documents.&#160; The parties agree that monetary damages may not be adequate compensation for any loss
              incurred by reason of any breach of obligations contained in the Transaction Documents and hereby agree to waive and not to assert in any Action for specific performance of any such obligation the defense that a remedy at law would be
              adequate.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.16</font>&#160;&#160; &#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Payment Set Aside</u>.&#160; To the extent that the Company makes a payment or payments to any Purchaser
              pursuant to any Transaction Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be
              fraudulent or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other Person under any law (including, without limitation, any
              bankruptcy law, state or federal law, common law or equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and
              effect as if such payment had not been made or such enforcement or setoff had not occurred.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.17</font>&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><u>Independent Nature of Purchasers&#8217; Obligations and Rights</u>.&#160; The obligations of each Purchaser
              under any Transaction Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance or non-performance of the obligations of any other Purchaser under any
              Transaction Document.&#160; Nothing contained herein or in any other Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint
              venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Documents.&#160; Each Purchaser
              shall be entitled to independently protect and enforce its rights including, without limitation, the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be
              joined as an additional party in any Proceeding for such purpose.&#160; Each Purchaser has been represented by its own separate legal counsel in its review and negotiation of the Transaction Documents.&#160; For reasons of administrative convenience
              only, each Purchaser and its respective counsel have chosen to communicate with the Company through EGS.&#160; EGS does not represent any of the Purchasers and only represents Purchaser.&#160; The Company has elected to provide all Purchasers with the
              same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do so by any of the Purchasers.&#160; It is expressly understood and agreed that each provision contained in this Agreement and
              in each other Transaction Document is between the Company and a Purchaser, solely, and not between the Company and the Purchasers collectively and not between and among the Purchasers.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.18</font>&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);"><font style="color: rgb(0, 0, 0);"><u>Saturdays, Sundays, Holidays, etc.</u></font>If the last or
              appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.</font></div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">32</font></div>
            <div style="page-break-after:always;" id="DSPFPageBreak">
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          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.19</font> &#160; &#160; &#160; <font style="color: rgb(0, 0, 0);"><u>Construction</u>. The parties agree that each of them and/or their respective counsel have reviewed
              and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the
              Transaction Documents or any amendments thereto. In addition, each and every reference to share prices and shares of Common Stock in any Transaction Document shall be subject to adjustment for reverse and forward stock splits, stock
              dividends, stock combinations and other similar transactions of the Common Stock that occur after the date of this Agreement.</font></div>
          <div>&#160;</div>
          <div style="text-align: justify; text-indent: 36pt;"><font style="color: rgb(0, 0, 0);">5.20</font>&#160;&#160;&#160;&#160;&#160; <font style="color: rgb(0, 0, 0);"><font style="font-weight: bold;"><u>WAIVER OF JURY TRIAL</u></font><font style="font-weight: bold;">.&#160; </font><font style="font-weight: bold;"><u>IN ANY ACTION, SUIT, OR PROCEEDING IN ANY JURISDICTION BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY, THE PARTIES EACH KNOWINGLY AND INTENTIONALLY, TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW, HEREBY
                  ABSOLUTELY, UNCONDITIONALLY, IRREVOCABLY AND EXPRESSLY WAIVES FOREVER TRIAL BY JURY.</u></font></font></div>
          <div>&#160;</div>
          <div style="text-align: center; font-style: italic;">(Signature Pages Follow)</div>
          <div>&#160;</div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">33</font></div>
            <div style="page-break-after:always;" id="DSPFPageBreak">
              <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;">IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.</div>
          <div>&#160;</div>
          <div><br>
          </div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="zaa71c53416404e41ac01d5058a532e73">

              <tr>
                <td style="vertical-align: top; width: 60%;">
                  <div style="font-weight: bold;">AMERI HOLDINGS, INC.</div>
                </td>
                <td style="width: 40%; vertical-align: top;">
                  <div><u>Address for Notice:</u></div>
                </td>
              </tr>
              <tr>
                <td style="vertical-align: top; width: 60%;">&#160;</td>
                <td style="width: 40%; vertical-align: top;">&#160;</td>
              </tr>

          </table>
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              <tr>
                <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">
                  <div>By:</div>
                </td>
                <td style="width: 53%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);"><br>
                </td>
                <td colspan="1" style="width: 5%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                <td style="width: 40%; vertical-align: top; padding-bottom: 2px;">
                  <div>E-Mail:</div>
                </td>
              </tr>

          </table>
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              <tr>
                <td style="width: 2%; vertical-align: top;">
                  <div><br>
                  </div>
                </td>
                <td style="width: 53%; vertical-align: top;">
                  <div>Name:</div>
                </td>
                <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
                <td style="width: 40%; vertical-align: top;">
                  <div>Fax:</div>
                </td>
              </tr>
              <tr>
                <td style="width: 2%; vertical-align: top;">
                  <div><br>
                  </div>
                </td>
                <td style="width: 53%; vertical-align: top;">
                  <div>Title:</div>
                </td>
                <td colspan="1" style="width: 5%; vertical-align: top;">&#160;</td>
                <td style="width: 40%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td colspan="2" style="vertical-align: top;">
                  <div>With a copy to (which shall not constitute notice):</div>
                </td>
                <td colspan="1" style="vertical-align: top; width: 5%;">&#160;</td>
                <td style="width: 40%; vertical-align: top;">&#160;</td>
              </tr>

          </table>
          <div><br>
          </div>
          <div style="text-align: center;">[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK</div>
          <div style="text-align: center;">SIGNATURE PAGE FOR PURCHASER FOLLOWS]</div>
          <div style="text-align: center;"> <br>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">34</font></div>
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              <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: center;">[PURCHASER SIGNATURE PAGES TO AMRH SECURITIES PURCHASE AGREEMENT]</div>
          <div><br>
          </div>
          <div style="text-align: justify; text-indent: 36pt;">IN WITNESS WHEREOF, the undersigned have caused this Securities Purchase Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.&#160; </div>
          <div style="text-align: justify;"><br>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" id="z13ec3e0d450e4fb4996d85da0839944a" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="white-space: nowrap; width: 10%; padding: 0px 0px 2px;">Name of Purchaser: </td>
                    <td style="width: 20%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>&#160;</div>
                    </td>
                    <td style="width: 70%; padding-bottom: 2px;">
                      <div>&#160;</div>
                    </td>
                  </tr>

              </table>
            </div>
            <br>
          </div>
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              <tr>
                <td style="width: 31%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: justify; font-size: 12pt;"><font style="font-size: 10pt; font-style: italic;">Signature of Authorized Signatory of Purchaser</font><font style="font-size: 10pt;">:</font></div>
                </td>
                <td style="width: 59%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td colspan="1" style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              </tr>

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          <div><br>
          </div>
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                <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: justify;">Name of Authorized Signatory:</div>
                </td>
                <td style="width: 70%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td colspan="1" style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              </tr>

          </table>
          <div><br>
          </div>
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                <td style="width: 20%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: justify;">Title of Authorized Signatory:</div>
                </td>
                <td style="width: 70%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td colspan="1" style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              </tr>

          </table>
          <div><br>
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              <tr>
                <td style="width: 26%; vertical-align: top; padding-bottom: 2px;">
                  <div style="text-align: justify;">Email Address of Authorized Signatory:</div>
                </td>
                <td style="width: 64%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                <td colspan="1" style="width: 10%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
              </tr>

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          <div><br>
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                <td style="width: 28%; vertical-align: top; padding-bottom: 2px;">
                  <div>Facsimile Number of Authorized Signatory:</div>
                </td>
                <td style="width: 72%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              </tr>

          </table>
          <div> <br>
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          <div>Address for Notice to Purchaser:</div>
          <div><br>
          </div>
          <div>Address for Delivery of Shares to Purchaser (if not same as address for notice):</div>
          <div><br>
          </div>
          <div>Subscription Amount: $1,000,000</div>
          <div><br>
          </div>
          <div><br>
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            <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">35</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>ex10_2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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    <title></title>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 10.2</font><br>
  </div>
  <div> <br>
  </div>
  <div>
    <div style="text-align: right; text-indent: 72pt; font-weight: bold;">EXHIBIT A</div>
    <div><br>
    </div>
    <div style="text-align: justify;">Original Issue Date: November __, 2019</div>
    <div style="text-align: justify;">Original Conversion Price (subject to adjustment herein): <font style="font-weight: bold;">$[____</font></div>
    <div><br>
    </div>
    <div style="text-align: right;">$1,000,000</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">5% CONVERTIBLE DEBENTURE</div>
    <div style="text-align: center; font-weight: bold;">DUE MAY __ 2020</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 45.8pt;">THIS 5% CONVERTIBLE DEBENTURE is one of a series of duly authorized and validly issued 5% Convertible Debentures of AMERI Holdings, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), having its
      principal place of business at 500 Research Court, Suite 750, Sewanee, GA 30024, designated as its 5% Convertible Debenture due May____2020 (this debenture, the &#8220;<u>Debenture</u>&#8221; and, collectively with the other debentures of such series, the &#8220;<u>Debentures</u>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;">FOR VALUE RECEIVED, the Company promises to pay to ______________ or its registered assigns (the &#8220;<u>Holder</u>&#8221;), or shall have paid pursuant to the terms hereunder, the principal sum of $1,000,000
      on May__, 2020 (the &#8220;<u>Maturity Date</u>&#8221;) or such earlier date as this Debenture is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of
      this Debenture in accordance with the provisions hereof.&#160; This Debenture is subject to the following additional provisions:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><u>Section 1</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Definitions</u>.&#160; For the purposes hereof, in addition to the terms defined elsewhere in this Debenture, (a) capitalized terms not otherwise defined herein shall have
      the meanings set forth in the Purchase Agreement and (b) the following terms shall have the following meanings:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Alternate Consideration</u>&#8221; shall have the meaning set forth in Section 5(e).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Bankruptcy Event</u>&#8221; means any of the following events: (a) the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X) thereof
      commences a case or other proceeding under any bankruptcy, reorganization, arrangement, adjustment of debt, relief of debtors, dissolution, insolvency or liquidation or similar law of any jurisdiction relating to the Company or any Significant
      Subsidiary thereof, (b) there is commenced against the Company or any Significant Subsidiary thereof any such case or proceeding that is not dismissed within 60 days after commencement, (c) the Company or any Significant Subsidiary thereof is
      adjudicated insolvent or bankrupt or any order of relief or other order approving any such case or proceeding is entered, (d) the Company or any Significant Subsidiary thereof suffers any appointment of any custodian or the like for it or any
      substantial part of its property that is not discharged or stayed within 60 calendar days after such appointment, (e) the Company or any Significant Subsidiary thereof makes a general assignment for the benefit of creditors, (f) the Company or any
      Significant Subsidiary thereof calls a meeting of its creditors with a view to arranging a composition, adjustment or restructuring of its debts, (g) the Company or any Significant Subsidiary thereof admits in writing that it is generally unable to
      pay its debts as they become due, (h) the Company or any Significant Subsidiary thereof, by any act or failure to act, expressly indicates its consent to, approval of or acquiescence in any of the foregoing or takes any corporate or other action for
      the purpose of effecting any of the foregoing.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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">1</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;">&#8220;<u>Beneficial Ownership Limitation</u>&#8221; shall have the meaning set forth in Section 4(d).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Business Day</u>&#8221; means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the
      State of New York are authorized or required by law or other governmental action to close.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Buy-In</u>&#8221; shall have the meaning set forth in Section 4(c)(v).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion</u>&#8221; shall have the meaning ascribed to such term in Section 4.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion Date</u>&#8221; shall have the meaning set forth in Section 4(a).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion Price</u>&#8221; shall have the meaning set forth in Section 4(b).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion Schedule</u>&#8221; means the Conversion Schedule in the form of <u>Schedule 1</u> attached hereto.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Conversion Shares</u>&#8221; means, collectively, the shares of Common Stock issuable upon conversion of this Debenture in accordance with the terms hereof. The Company acknowledges
      that all Conversion Shares shall be issued pursuant to an exemption from Registration under the Securities Act provided by Section 3(a) (9) thereof.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Debenture Register</u>&#8221; shall have the meaning set forth in Section 2(c).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt; color: #000000; font-size: 12pt;"><font style="font-size: 10pt;">&#8220;</font><u><font style="font-size: 10pt;">Event of Default</font></u><font style="font-size: 10pt;">&#8221; shall have the
        meaning set forth in Section 8(a).</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Fundamental Transaction</u>&#8221; shall have the meaning set forth in Section 5(e).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Late Fees</u>&#8221; shall have the meaning set forth in Section 2(c).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Mandatory Default Amount</u>&#8221;&#160; means the sum of (a) the greater of (i) the outstanding principal amount of this Debenture, plus all accrued and unpaid interest hereon, divided
      by the Conversion Price on the date the Mandatory Default Amount is either (A) demanded (if demand or notice is required to create an Event of Default) or otherwise due or (B) paid in full, whichever has a lower Conversion Price, multiplied by the
      VWAP on the date the Mandatory Default Amount is either (x) demanded or otherwise due or (y) paid in full, whichever has a higher VWAP, or (ii) 130% of the outstanding principal amount of this Debenture, plus 100% of accrued and unpaid interest
      hereon, and (b) all other amounts, costs, expenses and liquidated damages due in respect of this Debenture.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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">2</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;">&#8220;<u>New York Courts</u>&#8221; shall have the meaning set forth in Section 9(d).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Notice of Conversion</u>&#8221; shall have the meaning set forth in Section 4(a).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Original Issue Date</u>&#8221; means the date of the first issuance of the Debentures, regardless of any transfers of any Debenture and regardless of the number of instruments which
      may be issued to evidence such Debentures.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Permitted Indebtedness</u>&#8221; means (a) the indebtedness evidenced by the Debentures, (b) the Indebtedness existing on the Original Issue Date and set forth on <u>Schedule
        3.1(bb)</u> attached to the Purchase Agreement, and (c) lease obligations and purchase money indebtedness of up to $100,000, in the aggregate, incurred in connection with the acquisition of capital assets and lease obligations with respect to newly
      acquired or leased assets.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Permitted Lien</u>&#8221; means the individual and collective reference to the following: (a) Liens for taxes, assessments and other governmental charges or levies not yet due or
      Liens for taxes, assessments and other governmental charges or levies being contested in good faith and by appropriate proceedings for which adequate reserves (in the good faith judgment of the management of the Company) have been established in
      accordance with GAAP, (b) Liens imposed by law which were incurred in the ordinary course of the Company&#8217;s business, such as carriers&#8217;, warehousemen&#8217;s and mechanics&#8217; Liens, statutory landlords&#8217; Liens, and other similar Liens arising in the ordinary
      course of the Company&#8217;s business, and which (x) do not individually or in the aggregate materially detract from the value of such property or assets or materially impair the use thereof in the operation of the business of the Company and its
      consolidated Subsidiaries or (y) are being contested in good faith by appropriate proceedings, which proceedings have the effect of preventing for the foreseeable future the forfeiture or sale of the property or asset subject to such Lien, (c) Liens
      incurred in connection with Permitted Indebtedness under clauses (a) and (b) thereunder, and (d) Liens incurred in connection with Permitted Indebtedness under clause (c) thereunder, provided that such Liens are not secured by assets of the Company
      or its Subsidiaries other than the assets so acquired or leased.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Purchase Agreement</u>&#8221; means the Securities Purchase Agreement, dated as of November 22, 2019 among the Company and the original Holders, as amended, modified or supplemented
      from time to time in accordance with its terms.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Registration Statement</u>&#8221; means the effective registration statement pursuant to which this Debenture has been issued, Commission file number 333-233260.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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>
      <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;">&#8220;<u>Securities Act</u>&#8221; means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Share Delivery Date</u>&#8221; shall have the meaning set forth in Section 4(c)(ii).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Successor Entity</u>&#8221; shall have the meaning set forth in Section 5(e).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Trading Day</u>&#8221; means a day on which the principal Trading Market is open for trading.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>Trading Market</u>&#8221; means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the NYSE American, the
      Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, the New York Stock Exchange, (or any successors to any of the foregoing).</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">&#8220;<u>VWAP</u>&#8221; means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted on a Trading Market,
      the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m.
      (New York City time) to 4:02 p.m. (New York City time)), (b)&#160; if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the
      Common Stock is not then listed or quoted for trading on OTCQB or OTCQX and if prices for the Common Stock are then reported on The Pink Open Market&#160;(or a similar organization or agency succeeding to its functions of reporting prices), the most
      recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as determined by an independent appraiser selected in good faith by the Purchasers of a majority in interest of
      the Securities then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><u>Section 2</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Interest</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <u>Payment of Interest in Cash</u>. The Company shall pay interest to the Holder on the aggregate unconverted and then outstanding principal amount of this Debenture
      at the rate of 5% per annum, payable on the Maturity Date (each such date, an &#8220;<u>Interest Payment Date</u>&#8221;) (if any Interest Payment Date is not a Business Day, then the applicable payment shall be due on the next succeeding Business Day), in cash</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Interest Calculations</u>. Interest shall be calculated on the basis of a 360-day year, consisting of twelve 30 calendar day periods, and shall accrue daily
      commencing on the Original Issue Date until payment in full of the outstanding principal, together with all accrued and unpaid interest, liquidated damages and other amounts which may become due hereunder, has been made.&#160; Interest shall cease to
      accrue with respect to any principal amount converted, provided that, the Company actually delivers the Conversion Shares within the time period required by Section 4(c)(ii) herein.&#160; Interest hereunder will be paid to the Person in whose name this
      Debenture is registered on the records of the Company regarding registration and transfers of this Debenture (the &#8220;<u>Debenture Register</u>&#8221;).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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>
      <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;"><font style="color: rgb(0, 0, 0);">c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Late Fee</u>.&#160; All overdue accrued and unpaid interest to be paid hereunder shall entail a late fee at an interest rate
      equal to the lesser of 18% per annum or the maximum rate permitted by applicable law (the &#8220;<u>Late Fees</u>&#8221;) which shall accrue daily from the date such interest is due hereunder through and including the date of actual payment in full.<a name="z_DV_C61"></a></div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Prepayment</u>.&#160; Except as otherwise set forth in this Debenture or in Section 4.12 of the Purchase Agreement, the Company may not prepay any portion of the
      principal amount of this Debenture without the prior written consent of the Holder.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><u>Section 3.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Registration of Transfers and Exchanges</u>.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Different Denominations</u>. This Debenture is exchangeable for an equal aggregate principal amount of Debentures of different authorized denominations, as requested
      by the Holder surrendering the same.&#160; No service charge will be payable for such registration of transfer or exchange.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <u>Reliance on Debenture Register</u>. Prior to due presentment for transfer to the Company of this Debenture, the Company and any agent of the Company may treat the
      Person in whose name this Debenture is duly registered on the Debenture Register as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Debenture is overdue, and neither the Company
      nor any such agent shall be affected by notice to the contrary.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><u>Section 4.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conversion</u>.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Voluntary Conversion</u>. At any time after the Original Issue Date until this Debenture is no longer outstanding, this Debenture and any accrued but unpaid interest
      shall be convertible, in whole or in part, into shares of Common Stock at the option of the Holder, at any time and from time to time (subject to the conversion limitations set forth in Section 4(d) hereof).&#160; The Holder shall effect conversions by
      delivering to the Company a Notice of Conversion, the form of which is attached hereto as <u>Annex A</u> (each, a &#8220;<u>Notice of Conversion</u>&#8221;), specifying therein the principal amount of this Debenture to be converted and the date on which such
      conversion shall be effected (such date, the &#8220;<u>Conversion Date</u>&#8221;).&#160; If no Conversion Date is specified in a Notice of Conversion, the Conversion Date shall be the date that such Notice of Conversion is deemed delivered hereunder.&#160; No
      ink-original Notice of Conversion shall be required, nor shall any medallion guarantee (or other type of guarantee or notarization) of any Notice of Conversion form be required.<font style="font-style: italic;">&#160; </font>To effect conversions
      hereunder, the Holder shall not be required to physically surrender this Debenture to the Company unless the entire principal amount of this Debenture, plus all accrued and unpaid interest thereon, has been so converted in which case the Holder shall
      surrender this Debenture as promptly as is reasonably practicable after such conversion without delaying the Company&#8217;s obligation to deliver the shares on the Share Delivery Date. Conversions hereunder shall have the effect of lowering the
      outstanding principal amount of this Debenture in an amount equal to the applicable conversion.&#160; The Holder and the Company shall maintain records showing the principal amount(s) converted and the date of such conversion(s).&#160; The Company may deliver
      an objection to any Notice of Conversion within one (1) Business Day of delivery of such Notice of Conversion.&#160; In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the absence of manifest
      error. <font style="font-weight: bold;">The Holder, and any assignee by acceptance of this Debenture, acknowledge and agree that, by reason of the provisions of this paragraph, following conversion of a portion of this Debenture, the unpaid and
        unconverted principal amount of this Debenture may be less than the amount stated on the face hereof.</font></div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </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; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <u>Conversion Price</u>.&#160; The conversion price in effect on any Conversion Date shall be equal to <font style="font-weight: bold;">$0.109, </font>subject to
      adjustment herein (the &#8220;<u>Conversion Price</u>&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">
      <div>
        <div>
          <div style="font-size: 12pt; margin-left: 36pt; text-indent: 36pt;">c) <font style="font-size: 10pt;"><u>Mechanics of Conversion</u></font><font style="font-size: 10pt;">.</font></div>
        </div>
      </div>
    </div>
    <div style="text-align: justify;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">i.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Conversion Shares Issuable Upon Conversion of Principal Amount</u>.&#160; The number of Conversion Shares issuable upon a conversion hereunder shall be determined by
      the quotient obtained by dividing (x) the outstanding principal amount of this Debenture (plus any accrued but unpaid interest elected to be converted by the Holder) to be converted by (y) the Conversion Price.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">ii.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Delivery of Conversion Shares Upon Conversion</u>. Not later than the earlier of (i) two (2) Trading Days and (ii) the number of Trading Days comprising the
      Standard Settlement Period (as defined below)&#160;after each Conversion Date (the &#8220;<u>Share Delivery Date</u>&#8221;), the Company shall deliver, or cause to be delivered, to the Holder (A) the Conversion Shares which shall be free of restrictive legends and
      trading restrictions representing the number of Conversion Shares being acquired upon the conversion of this Debenture and (B) a bank check in the amount of accrued and unpaid interest (unless the Holder has elected to convert unpaid interest into
      Conversion Shares). The Company shall deliver any Conversion Shares required to be delivered by the Company under this Section 4(c) electronically through the Depository Trust Company or another established clearing corporation performing similar
      functions.&#160;&#160; As used herein, &#8220;<u>Standard Settlement Period</u>&#8221; means the standard settlement period, expressed in a number of Trading Days, on the Company&#8217;s primary Trading Market with respect to the Common Stock as in effect on the date of
      delivery of the Notice of Conversion.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">iii.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Failure to Deliver Conversion Shares</u>.&#160; If, in the case of any Notice of Conversion, such Conversion Shares are not delivered to or as directed by the
      applicable Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at any time on or before its receipt of such Conversion Shares, to rescind such Conversion, in which event the Company shall promptly
      return to the Holder any original Debenture delivered to the Company and the Holder shall promptly return to the Company the Conversion Shares issued to such Holder pursuant to the rescinded Conversion Notice.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </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: 72pt;">iv.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Obligation Absolute; Partial Liquidated Damages</u>.&#160; The Company&#8217;s obligations to issue and deliver the Conversion Shares upon conversion of this Debenture in
      accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or
      any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the
      Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance of such Conversion Shares; <u>provided</u>, <u>however</u>, that such
      delivery shall not operate as a waiver by the Company of any such action the Company may have against the Holder.&#160; In the event the Holder of this Debenture shall elect to convert any or all of the outstanding principal amount hereof, the Company may
      not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder,
      restraining and or enjoining conversion of all or part of this Debenture shall have been sought and obtained, and the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this
      Debenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment.&#160; In
      the absence of such injunction, the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion.&#160; If the Company fails for any reason to deliver to the Holder such Conversion Shares pursuant to Section 4(c)(ii)
      by the Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup>) Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Share Delivery Date until such Conversion Shares are delivered or Holder
      rescinds such conversion.&#160; &#160; Nothing herein shall limit a Holder&#8217;s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for the Company&#8217;s failure to deliver Conversion Shares within the period specified herein
      and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief.&#160; The exercise of any such rights shall not prohibit
      the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">v.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Compensation for Buy-In on Failure to Timely Deliver Conversion Shares Upon Conversion</u>. In addition to any other rights available to the Holder, if the Company
      fails for any reason to deliver to the Holder such Conversion Shares by the Share Delivery Date pursuant to Section 4(c)(ii), and if after such Share Delivery Date the Holder is required by its brokerage firm to purchase (in an open market
      transaction or otherwise), or the Holder&#8217;s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Conversion Shares which the Holder was entitled to receive upon the conversion relating to
      such Share Delivery Date (a &#8220;<u>Buy-In</u>&#8221;), then the Company shall (A) pay in cash to the Holder (in addition to any other remedies available to or elected by the Holder) the amount, if any, by which (x) the Holder&#8217;s total purchase price (including
      any brokerage commissions) for the Common Stock so purchased exceeds (y) the product of (1) the aggregate number of shares of Common Stock that the Holder was entitled to receive from the conversion at issue multiplied by (2) the actual sale price at
      which the sell order giving rise to such purchase obligation was executed (including any brokerage commissions) and (B) at the option of the Holder, either reissue (if surrendered) this Debenture in a principal amount equal to the principal amount of
      the attempted conversion (in which case such conversion shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued if the Company had timely complied with its delivery requirements under
      Section 4(c)(ii).&#160; For example, if the Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted conversion of this Debenture with respect to which the actual sale price of the Conversion
      Shares (including any brokerage commissions) giving rise to such purchase obligation was a total of $10,000 under clause (A) of the immediately preceding sentence, the Company shall be required to pay the Holder $1,000.&#160; The Holder shall provide the
      Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, evidence of the amount of such loss.&#160; Nothing herein shall limit a Holder&#8217;s right to pursue any other remedies available to
      it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company&#8217;s failure to timely deliver Conversion Shares upon conversion of this Debenture as required
      pursuant to the terms hereof.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">vi.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Reservation of Shares Issuable Upon Conversion</u>. The Company covenants that it will at all times reserve and keep available out of its authorized and unissued
      shares of Common Stock for the sole purpose of issuance upon conversion of this Debenture and payment of interest on this Debenture, each as herein provided, free from preemptive rights or any other actual contingent purchase rights of Persons other
      than the Holder (and the other holders of the Debentures), not less than such aggregate number of shares of the Common Stock as shall (subject to the terms and conditions set forth in the Purchase Agreement) be issuable (taking into account the
      adjustments and restrictions of Section 5) upon the conversion of the then outstanding principal amount of this Debenture and payment of interest hereunder.&#160; The Company covenants that all shares of Common Stock that shall be so issuable shall, upon
      issue, be duly authorized, validly issued, fully paid and nonassessable and, if the Registration Statement is then effective under the Securities Act, shall be registered for public resale in accordance with such Registration Statement (subject to
      such Holder&#8217;s compliance with its obligations under the Registration Rights Agreement).</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">vii.&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Fractional Shares</u>. No fractional shares or scrip representing fractional shares shall be issued upon the conversion of this Debenture.&#160; As to any fraction of a
      share which the Holder would otherwise be entitled to purchase upon such conversion, the Company shall at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Conversion
      Price or round up to the next whole share.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">viii.&#160;&#160;&#160;&#160;&#160;&#160; <u>Transfer Taxes and Expenses</u>.&#160; The issuance of Conversion Shares on conversion of this Debenture shall be made without charge to the Holder hereof for any
      documentary stamp or similar taxes that may be payable in respect of the issue or delivery of such Conversion Shares, provided that the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the
      issuance and delivery of any such Conversion Shares upon conversion in a name other than that of the Holder of this Debenture so converted and the Company shall not be required to issue or deliver such Conversion Shares unless or until the Person or
      Persons requesting the issuance thereof shall have paid to the Company the amount of such tax or shall have established to the satisfaction of the Company that such tax has been paid.&#160; The Company shall pay all Transfer Agent fees required for
      same-day processing of any Notice of Conversion and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Conversion Shares.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">9</font></div>
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Holder&#8217;s Conversion Limitations</u>.&#160; The Company shall not effect any conversion of this Debenture, and a Holder shall not have the right to convert any portion of
      this Debenture, to the extent that after giving effect to the conversion set forth on the applicable Notice of Conversion, the Holder (together with the Holder&#8217;s Affiliates, and any other Persons acting as a group together with the Holder or any of
      the Holder&#8217;s Affiliates (such Persons, &#8220;<u>Attribution Parties</u>&#8221;)) would beneficially own in excess of the Beneficial Ownership Limitation (as defined below).&#160; For purposes of the foregoing sentence, the number of shares of Common Stock
      beneficially owned by the Holder and its Affiliates <font style="color: rgb(0, 0, 0);"><a name="z_DV_C3"></a>and Attribution Parties shall include the number of shares of Common Stock issuable upon conversion of this Debenture with respect to which
        such determination is being made, but shall exclude the number of shares of Common Stock which are issuable upon (i) conversion of the remaining, unconverted principal amount of this Debenture beneficially owned by the Holder or any of its
        Affiliates <a name="z_DV_C4"></a>or Attribution Parties </font><font style="color: rgb(0, 0, 0);">and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company subject to a limitation on
        conversion or exercise analogous to the limitation contained herein (including, without limitation, any other Debentures or the Warrants) beneficially owned by the Holder or any of its Affiliates or Attribution Parties.&#160; Except as set forth in the
        preceding sentence, for purposes of this Section 4(d), beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.&#160; To the extent that the limitation contained
        in this Section 4(d) applies, the determination of whether this Debenture is convertible (in relation to other securities owned by the Holder together with any Affiliates and Attribution Parties) and of which principal amount of this Debenture is
        convertible shall be in the sole discretion of the Holder, and the submission of a Notice of Conversion shall be deemed to be the Holder&#8217;s determination of whether this Debenture may be converted (in relation to other securities owned by the Holder
        together with any Affiliates or Attribution Parties) and which principal amount of this Debenture is convertible, in each case subject to the Beneficial Ownership Limitation. To ensure compliance with this restriction, the Holder will be deemed to
        represent to the Company each time it delivers a Notice of Conversion that such Notice of Conversion has not violated the restrictions set forth in this paragraph and the Company shall have no obligation to verify or confirm the accuracy of such
        determination.&#160; <a name="z_DV_C9"></a>In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.&#160;&#160; For
        purposes of this Section 4(d), in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most recent of the following: (i) the Company&#8217;s most recent
        periodic or annual report filed with the Commission, as the case may be, (ii) a more recent public announcement by the Company, or (iii) a more recent written notice by the Company or the Company&#8217;s transfer agent setting forth the number of shares
        of Common Stock outstanding.&#160; Upon the written or oral request of a Holder, the Company shall within one Trading Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.&#160; In any case, the number of
        outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Debenture, by the Holder or its Affiliates since the date as of which such number of outstanding
        shares of Common Stock was reported. The &#8220;<u>Beneficial Ownership Limitation</u>&#8221; shall be 4.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon
        conversion of this Debenture held by the Holder.&#160; The Holder, upon notice to the Company, may increase or decrease the Beneficial Ownership Limitation provisions of this Section 4(d), provided that the Beneficial Ownership Limitation in no event
        exceeds 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon conversion of this Debenture held by the Holder and the Beneficial Ownership Limitation provisions
        of this Section 4(d) shall continue to apply.&#160; Any increase in the Beneficial Ownership Limitation will not be effective until the 61<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup> day after such notice is
        delivered to the Company. &#160;The Beneficial Ownership Limitation provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 4(d) to correct this paragraph (or any
        portion hereof) which may be defective or inconsistent with the intended Beneficial Ownership Limitation contained herein or to make changes or supplements necessary or desirable to properly give effect to such limitation.<a name="z_DV_C10"></a></font><font style="color: rgb(0, 0, 255);"><font style="color: rgb(0, 0, 0);"> The limitations contained in this paragraph shall apply to a successor holde<font style="color: rgb(0, 0, 0);">r</font></font><font style="color: rgb(0, 0, 0);"> of </font></font>this

      Debenture<font style="color: rgb(0, 0, 255);">.</font></div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </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>
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    </div>
    <div style="text-align: justify; margin-left: 36pt;"><u>Section 5</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Certain Adjustments</u>.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Stock Dividends and Stock Splits</u>.&#160; If the Company, at any time while this Debenture is outstanding: (i) pays a stock dividend or otherwise makes a distribution
      or distributions payable in shares of Common Stock on shares of Common Stock or any Common Stock Equivalents (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon conversion of, or payment of interest
      on, the Debentures), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues, in
      the event of a reclassification of shares of the Common Stock, any shares of capital stock of the Company, then the Conversion Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any
      treasury shares of the Company) outstanding immediately before such event, and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event.&#160; Any adjustment made pursuant to this Section shall become
      effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or
      re&#8209;classification.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; RESERVED.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <u>Subsequent Rights Offerings</u>.&#160; <font style="color: rgb(0, 0, 0);">In addition to any adjustments pursuant to Section 5(a) above, if at any time the Company
        grants, issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of shares of Common Stock (the &#8220;</font><font style="color: rgb(0, 0, 0);"><u>Purchase

          Rights</u></font><font style="color: rgb(0, 0, 0);">&#8221;), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the
        number of shares of Common Stock acquirable upon complete conversion of this Debenture (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date on which a
        record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (</font><font style="color: rgb(0, 0, 0);"><u>provided</u></font><font style="color: rgb(0, 0, 0);">, </font><font style="color: rgb(0, 0, 0);"><u>however</u></font><font style="color: rgb(0, 0, 0);">, that, to the extent that the Holder&#8217;s right to participate
        in any such Purchase Right would result in the Holder exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such shares of Common Stock
        as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership
        Limitation).</font></div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">11</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Pro Rata Distributions</u>. During such time as this Debenture is outstanding, if the Company shall declare or make any dividend or other distribution of its assets
      (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off,
      reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a &#8220;<u>Distribution</u>&#8221;), at any time after the issuance of this Debenture, then, in each such case, the Holder shall be entitled to participate in such
      Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete conversion of this Debenture (without regard to any limitations on conversion hereof,
      including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to
      be determined for the participation in such Distribution (<u>provided</u>, <u>however</u>, that, to the extent that the Holder's right to participate in any such Distribution would result in the Holder exceeding the Beneficial Ownership Limitation,
      then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any shares of Common Stock as a result of such Distribution to such extent) and the portion of such Distribution shall be held
      in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">e)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Fundamental Transaction</u>. If, at any time while this Debenture is outstanding, (i) the Company, directly or indirectly, in one or more related transactions
      effects any merger or consolidation of the Company with or into another Person, (ii) the Company (and all of its Subsidiaries, taken as a whole), directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance or other
      disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which
      holders of Common Stock are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in
      one or more related transactions effects any reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities,
      cash or property, or (v) the Company<a name="OLE_LINK5"></a><a name="OLE_LINK6"></a>, directly or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
      limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other Person acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the
      other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a &#8220;<u>Fundamental Transaction</u>&#8221;), then, upon any
      subsequent conversion of this Debenture, the Holder shall have the right to receive, for each Conversion Share that would have been issuable upon such conversion immediately prior to the occurrence of such Fundamental Transaction (without regard to
      any limitation in Section 4(d) [and Section 4(e) on the conversion of this Debenture), the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional
      consideration (the &#8220;<u>Alternate Consideration</u>&#8221;) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Debenture is convertible immediately prior to such Fundamental Transaction
      (without regard to any limitation in Section 4(d) [and Section 4(e) on the conversion of this Debenture).&#160; For purposes of any such conversion, the determination of the Conversion Price shall be appropriately adjusted to apply to such Alternate
      Consideration based on the amount of Alternate Consideration issuable in respect of one (1) share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Conversion Price among the Alternate Consideration in a reasonable
      manner reflecting the relative value of any different components of the Alternate Consideration.&#160; If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder
      shall be given the same choice as to the Alternate Consideration it receives upon any conversion of this Debenture following such Fundamental Transaction.&#160; The Company shall cause any successor entity in a Fundamental Transaction in which the Company
      is not the survivor (the &#8220;<u>Successor Entity</u>&#8221;) to assume in writing all of the obligations of the Company under this Debenture and the other Transaction Documents (as defined in the Purchase Agreement) in accordance with the provisions of this
      Section 5(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the holder of this
      Debenture, deliver to the Holder in exchange for this Debenture a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Debenture which is convertible for a corresponding number of
      shares of capital stock of such Successor Entity (or its parent entity) equivalent to the shares of Common Stock acquirable and receivable upon conversion of this Debenture (without regard to any limitations on the conversion of this Debenture) prior
      to such Fundamental Transaction, and with a conversion price which applies the conversion price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental
      Transaction and the value of such shares of capital stock, such number of shares of capital stock and such conversion price being for the purpose of protecting the economic value of this Debenture immediately prior to the consummation of such
      Fundamental Transaction), and which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the
      date of such Fundamental Transaction, the provisions of this Debenture and the other Transaction Documents referring to the &#8220;Company&#8221; shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume
      all of the obligations of the Company under this Debenture and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </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">12</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
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    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">f)&#160;&#160;&#160;&#160; &#160; &#160;&#160;&#160; <u>Calculations</u>.&#160; All calculations under this Section 5 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.&#160; For purposes of
      this Section 5, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding any treasury shares of the Company) issued and outstanding.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">g)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Notice to the Holder</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">i.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Adjustment to Conversion Price</u>.&#160; Whenever the Conversion Price is adjusted pursuant to any provision of this Section 5, the Company shall promptly deliver to
      each Holder a notice setting forth the Conversion Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">ii.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <u>Notice to Allow Conversion by Holder</u>.&#160; If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Common Stock, (B) the
      Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock of rights or warrants to subscribe for or purchase any shares of
      capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or merger to which the Company(and all of its
      Subsidiaries, taken as a whole)&#160; is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property or (E) <font style="color: rgb(0, 0, 0);">the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be filed at each office or agency maintained
        for the purpose of conversion of this Debenture, and shall cause to be </font><a name="z_DV_M152"></a><font style="color: rgb(0, 0, 0);">delivered to the Holder at its last address as it shall appear upon the Debenture Register, at least twenty
        (20) calendar days prior to the applicable record or effective date hereinafter specified, a notice stating </font>(x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if
      a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification,
      consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be entitled to exchange their shares of the Common Stock for
      securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange, provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the
      validity of the corporate action required to be specified in such notice.&#160; To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall
      simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.&#160; The Holder shall remain entitled to convert this Debenture during the 20-day period commencing on the date of such notice through the effective date of the
      event triggering such notice except as may otherwise be expressly set forth herein.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </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">13</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;"><u>Section 6</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; RESERVED</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><u>Section 7</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Negative Covenants</u>. As long as any portion of this Debenture remains outstanding, [unless the holders of at least 67% in principal amount of the then outstanding
      Debentures shall have otherwise given prior written consent, the Company shall not, and shall not permit any of the Subsidiaries to, directly or indirectly:</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">a)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; other than Permitted Indebtedness, enter into, create, incur, assume, guarantee or suffer
        to exist any indebtedness for borrowed money of any kind, including, but not limited to, a guarantee, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;</font></div>
    <div style="text-align: justify; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);"> </font><font style="color: rgb(0, 0, 0);"><br>
      </font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">b)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; other than Permitted Liens, enter into, create, incur, assume or suffer to exist any Liens
        of any kind, on or with respect to any of its property or assets now owned or hereafter acquired or any interest therein or any income or profits therefrom;</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">c)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; amend its charter documents, including, without limitation, its certificate of
        incorporation and bylaws, in any manner that materially and adversely affects any rights of the Holder;</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">d)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;repay, repurchase or offer to repay, repurchase or otherwise acquire more than a <u>de</u>&#160;<u>minimis</u>
        number of shares of its Common Stock or Common Stock Equivalents other than as to (i) the Conversion Shares or Warrant Shares as permitted or required under the Transaction Documents and (ii) repurchases of Common Stock or Common Stock Equivalents
        of departing officers and directors of the Company, provided that such repurchases shall not exceed an aggregate of $100,000 for all officers and directors during the term of this Debenture;</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">e)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; repay, repurchase or offer to repay, repurchase or otherwise acquire any Indebtedness,
        other than the Debentures if on a pro-rata basis, other than regularly scheduled principal and interest payments as such terms are in effect as of the Original Issue Date, provided that such payments shall not be permitted if, at such time, or
        after giving effect to such payment, any Event of Default exist or occur;</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">f)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; pay cash dividends or distributions on any equity securities of the Company;</font></div>
    <div style="color: rgb(0, 0, 0);"><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">g)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;enter into any transaction with any Affiliate of the Company which would be required to be
        disclosed in any public filing with the Commission, unless such transaction is made on an arm&#8217;s-length basis and expressly approved by a majority of the disinterested directors of the Company (even if less than a quorum otherwise required for board
        approval); or</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);">h)</font><font style="color: rgb(0, 0, 0);">&#160;&#160;&#160;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;enter into any agreement with respect to any of the foregoing<font style="color: rgb(0, 0, 0);">.</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"><font style="color: rgb(0, 0, 0);"> </font><br>
    </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">14</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;"><u>Section 8</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Events of Default</u>.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#8220;<u>Event of Default</u>&#8221; means, wherever used herein, any of the following events (whatever the reason for such event and whether such event shall be voluntary or
      involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court, or any order, rule or regulation of any administrative or governmental body):</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"><font style="color: rgb(0, 0, 0);">i.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <font style="color: rgb(0, 0, 0);">any default in the payment of (A) the principal amount of any Debenture or (B) interest,
        liquidated damages and other amounts owing to a Holder on any Debenture, as and when the same shall become due and payable (whether on a Conversion Date or the Maturity Date or by acceleration or otherwise) which default, solely in the case of an
        interest payment or other default under clause (B) above, is not cured within 3 Trading Days;</font></div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"><font style="color: rgb(0, 0, 0);"> </font><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"><font style="color: rgb(0, 0, 0);">ii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company shall fail to observe or perform any other covenant or agreement contained in the Debentures (other than a breach
      by the Company of its obligations to deliver shares of Common Stock to the Holder upon conversion, which breach is addressed in clause (ix) below) or in any Transaction Document, which failure is not cured, if possible to cure, within the earlier to
      <font style="color: rgb(0, 0, 0);">occur of </font><a name="z_DV_C193"></a><font style="color: rgb(0, 0, 0);">(A) 5 Trading Days after notice of such failure sent by the Holder or by any other Holde</font><a name="z_DV_C195"></a><font style="color: rgb(0, 0, 0);">r to the Company and (B) 10 Trading Days after the Company has become or should have become aware of such failure;</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"><font style="color: rgb(0, 0, 0);">iii.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; a default or event of default (subject to any grace or cure period provided in the applicable agreement, document or
      instrument) shall occur under (A) any of the Transaction Documents or (B) any other material agreement, lease, document or instrument to which the Company or any Subsidiary is obligated (and not covered by clause (vi) below);</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">iv.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: rgb(0, 0, 0);">any repres</font><a name="z_DV_C197"></a><font style="color: rgb(0, 0, 0);">entation or warranty made in this Debenture, any other
        Transaction Documents, any written statement pursuant hereto or thereto or any other report, financial statement or certificate made or delivered to the Holder or any other Holder shall be untrue or incorrect in any material respect as of the date
        when made or deemed made;</font></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">v.&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; the Company or any Significant Subsidiary (as such term is defined in Rule 1-02(w) of Regulation S-X)&#160; shall be subject to a Bankruptcy Event;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">vi.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the Company or any Subsidiary shall default on any of its obligations under any mortgage, credit agreement or other facility, indenture agreement, factoring agreement
      or other instrument under which there may be issued, or by which there may be secured or evidenced, any indebtedness for borrowed money or money due under any long term leasing or factoring arrangement that (a) involves an obligation greater than
      $250,000, whether such indebtedness now exists or shall hereafter be created, and (b) results in such indebtedness becoming or being declared due and payable prior to the date on which it would otherwise become due and payable;</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;"> <br>
    </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">15</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;&#160;&#160;&#160; the Common Stock shall not be eligible for listing or quotation for trading on a Trading Market and shall not be eligible to resume listing or quotation for trading
      thereon within five Trading Days;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">viii.&#160;&#160;&#160;&#160;&#160;&#160;&#160; Intentionally Omitted.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">ix.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the Company shall fail for any reason to deliver Conversion Shares to a Holder prior to the fifth Trading Day after a Conversion Date pursuant to Section 4(c) [or any
      Forced Conversion Date pursuant to Section 6(d) or the Company shall provide at any time notice to the Holder, including by way of public announcement, of the Company&#8217;s intention to not honor requests for conversions of any Debentures in accordance
      with the terms hereof;</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">x.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;the electronic transfer by the Company of shares of Common Stock through the Depository Trust Company or another established clearing corporation is no longer available
      or is subject to a &#8220;chill&#8221;; or</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 72pt;">xi.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; any monetary judgment, writ or similar final process shall be entered or filed against the Company, any subsidiary or any of their respective property or other assets
      for more than $250,000, and such judgment, writ or similar final process shall remain unvacated, unbonded or unstayed for a period of 45 calendar days.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Remedies Upon Event of Default</u>. If any Event of Default occurs, the outstanding principal amount of this Debenture, plus accrued but unpaid interest,
      liquidated damages and other amounts owing in respect thereof through the date of acceleration, shall become, at the Holder&#8217;s election, immediately due and payable in cash at the Mandatory Default Amount.&#160; Commencing 5 days after the occurrence of
      any Event of Default that results in the eventual acceleration of this Debenture, the interest rate on this Debenture shall accrue at an interest rate equal to the lesser of 18% per annum or the maximum rate permitted under applicable law.&#160; Upon the
      payment in full of the Mandatory Default Amount, the Holder shall promptly surrender this Debenture to or as directed by the Company.&#160; In connection with such acceleration described herein, the Holder need not provide, and the Company hereby waives,
      any presentment, demand, protest or other notice of any kind, and the Holder may immediately and without expiration of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable
      law.&#160; Such acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have all rights as a holder of the Debenture until such time, if any, as the Holder receives full payment pursuant to this
      Section 8(b).&#160; No such rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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">16</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;"><u>Section 9</u>.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Miscellaneous</u>.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Notices</u>.&#160; Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation, any Notice of
      Conversion, shall be in writing and delivered personally, by facsimile, by email attachment, or sent by a nationally recognized overnight courier service, addressed to the Company, at the address set forth above, or such other facsimile number, email
      address, or address as the Company may specify for such purposes by notice to the Holder delivered in accordance with this Section 9(a).&#160; Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in
      writing and delivered personally, by facsimile, by email attachment, or sent by a nationally recognized overnight courier service addressed to each Holder at the facsimile number, email address or address of the Holder appearing on the books of the
      Company, or if no such facsimile number or email attachment or address appears on the books of the Company, at the principal place of business of such Holder, as set forth in the Purchase Agreement.&#160; Any notice or other communication or deliveries
      hereunder shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment to the email address set forth on the signature
      pages attached hereto prior to 5:30 p.m. (New York City time) on any date, (ii) the next Trading Day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email attachment to the email
      address set forth on the signature pages attached hereto on a day that is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if sent by U.S. nationally
      recognized overnight courier service or (iv) upon actual receipt by the party to whom such notice is required to be given.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Absolute Obligation</u>. Except as expressly provided herein, no provision of this Debenture shall alter or impair the obligation of the Company, which is absolute
      and unconditional, to pay the principal of, liquidated damages and accrued interest, as applicable, on this Debenture at the time, place, and rate, and in the coin or currency, herein prescribed.&#160; This Debenture is a direct debt obligation of the
      Company.&#160; This Debenture ranks <u>pari</u>&#160;<u>passu</u> with all other Debentures now or hereafter issued under the terms set forth herein.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">c)&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160; <u>Lost or Mutilated Debenture</u>.&#160; If this Debenture shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange and
      substitution for and upon cancellation of a mutilated Debenture, or in lieu of or in substitution for a lost, stolen or destroyed Debenture, a new Debenture for the principal amount of this Debenture so mutilated, lost, stolen or destroyed, but only
      upon receipt of evidence of such loss, theft or destruction of such Debenture, and of the ownership hereof, reasonably satisfactory to the Company.</div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;"> <br>
    </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">17</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;">d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Governing Law</u>.&#160; All questions concerning the construction, validity, enforcement and interpretation of this Debenture shall be governed by and construed and
      enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflict of laws thereof.&#160; Each party agrees that all legal proceedings concerning the interpretation, enforcement and defense of the
      transactions contemplated by any of the Transaction Documents (whether brought against a party hereto or its respective Affiliates, directors, officers, shareholders, employees or agents) shall be commenced in the state and federal courts sitting in
      the City of New York, Borough of Manhattan (the &#8220;<u>New York Courts</u>&#8221;).&#160; Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York Courts for the adjudication of any dispute hereunder or in connection herewith or
      with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of any of the Transaction Documents), 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 such New York Courts, or such New York Courts are improper or inconvenient venue for such proceeding.&#160; 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 via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Debenture and agrees that
      such service shall constitute good and sufficient service of process and notice thereof.&#160; Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by applicable law. Each party hereto
      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 Debenture or the transactions contemplated hereby. If any party shall commence
      an action or proceeding to enforce any provisions of this Debenture, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys fees and other costs and expenses incurred in the investigation,
      preparation and prosecution of such action or proceeding.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">e)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Waiver</u>.&#160; Any waiver by the Company or the Holder of a breach of any provision of this Debenture shall not operate as or be construed to be a waiver of any
      other breach of such provision or of any breach of any other provision of this Debenture.&#160; The failure of the Company or the Holder to insist upon strict adherence to any term of this Debenture on one or more occasions shall not be considered a
      waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Debenture on any other occasion.&#160; Any waiver by the Company or the Holder must be in writing.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">f)&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; <u>Severability</u>.&#160; If any provision of this Debenture is invalid, illegal or unenforceable, the balance of this Debenture shall remain in effect, and if any
      provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances.&#160; If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law
      governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate of interest permitted under applicable law. The Company covenants (to the extent that it may lawfully do so) that it shall not at
      any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company from paying all or any portion of the principal of or
      interest on this Debenture as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Debenture, and the Company (to the extent it may lawfully do so) hereby expressly
      waives all benefits or advantage of any such law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted to the Holder, but will suffer and permit the execution of every such as
      though no such law has been enacted.</div>
    <div style="text-align: justify; margin-left: 36pt;"> <br>
    </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">18</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;">g)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief.&#160; </u>The remedies provided in this Debenture shall be cumulative and in addition to
      all other remedies available under this Debenture and any of the other Transaction Documents at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder&#8217;s right to pursue
      actual and consequential damages for any failure by the Company to comply with the terms of this Debenture.&#160; The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided
      herein. Amounts set forth or provided for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any
      other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The
      Company therefore agrees that, in the event of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies, to an injunction restraining any such breach or any such threatened breach, without the
      necessity of showing economic loss and without any bond or other security being required. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company&#8217;s
      compliance with the terms and conditions of this Debenture.</div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">h)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Next Business Day</u>.&#160; Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment shall be made on the next
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    <div><br>
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    <div style="text-align: justify; text-indent: 36pt; margin-left: 36pt;">i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160; <u>Headings</u>.&#160; The headings contained herein are for convenience only, do not constitute a part of this Debenture and shall not be deemed to limit or affect any of
      the provisions hereof.</div>
    <div><br>
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    <div style="text-align: justify; margin-left: 36pt;">Section 10.&#160; <u>Disclosure</u>.&#160;&#160; Upon receipt or delivery by the Company of any notice in accordance with the terms of this Debenture, unless the Company has in good faith determined that the
      matters relating to such notice do not constitute material, nonpublic information relating to the Company or its Subsidiaries, the Company shall within two (2) Business Days after such receipt or delivery publicly disclose such material, nonpublic
      information on a Current Report on Form 8-K or otherwise. In the event that the Company believes that a notice contains material, non-public information relating to the Company or its Subsidiaries, the Company so shall indicate to the Holder
      contemporaneously with delivery of such notice, and in the absence of any such indication, the Holder shall be allowed to presume that all matters relating to such notice do not constitute material, nonpublic information relating to the Company or
      its Subsidiaries.</div>
    <div><br>
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    <div style="text-align: center;">*********************</div>
    <div>&#160;</div>
    <div style="text-align: center; font-style: italic;">(Signature Page Follows)</div>
    <div>&#160;</div>
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    <div style="text-align: justify; text-indent: 36pt;">IN WITNESS WHEREOF, the Company has caused this Debenture to be duly executed by a duly authorized officer as of the date first above indicated.</div>
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          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="font-weight: bold;">AMERI HOLDINGS, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="vertical-align: top;" colspan="2">&#160;</td>
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        <tr>
          <td style="width: 40%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">
            <div>By:</div>
          </td>
          <td style="width: 58%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div>:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
          <td style="width: 2%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 58%; vertical-align: top;" rowspan="1">Name</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 2%; vertical-align: top;">&#160;</td>
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          <td style="width: 40%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          <td style="width: 25%; vertical-align: top; padding-bottom: 2px;">
            <div>Facsimile No. for delivery of Notices:</div>
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          <td style="width: 35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1"><br>
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    <div style="text-align: center; font-weight: bold;">ANNEX A</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">NOTICE OF CONVERSION</div>
    <div><br>
    </div>
    <div><br>
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    <div style="text-align: justify; text-indent: 36pt;">The undersigned hereby elects to convert principal under the 5% Convertible Debenture due [________ of AMERI Holdings, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), into shares of common stock
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    <div style="text-align: justify; text-indent: 36pt;">By the delivery of this Notice of Conversion the undersigned represents and warrants to the Company that its ownership of the Common Stock does not exceed the amounts specified under Section 4 of
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    <div><br>
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    <div style="text-align: justify; text-indent: 36pt;">The undersigned agrees to comply with the prospectus delivery requirements under the applicable securities laws in connection with any transfer of the aforesaid shares of Common Stock.</div>
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            <div style="text-align: justify;">Conversion calculations:</div>
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        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>Date to Effect Conversion:</div>
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        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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        <tr>
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            <div>Principal Amount of Debenture to be Converted:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>Payment of Interest in Common Stock __ yes&#160; __ no</div>
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        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>If yes, $_____ of Interest Accrued on Account of Conversion at Issue.</div>
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          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">
            <div>Number of shares of Common Stock to be issued:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>Signature:</div>
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        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">
            <div>Name:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">
            <div>Address for Delivery of Common Stock Certificates:</div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
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          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div><u>Or</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 60%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 40%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>DWAC Instructions:</div>
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          <td style="width: 9%; vertical-align: top; padding-bottom: 2px;">
            <div>Broker No:</div>
          </td>
          <td style="width: 13%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td style="width: 38%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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        <tr>
          <td style="width: 40%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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            <div>Account No:</div>
          </td>
          <td style="width: 13%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          <td style="width: 38%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
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    <div style="text-align: center; font-weight: bold;">Schedule 1</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">CONVERSION SCHEDULE</div>
    <div><br>
    </div>
    <div style="text-align: justify;">The 5% Convertible Debentures due on [________ in the aggregate principal amount of $1,000,000 are issued by AMERI Holdings, Inc., a Delaware corporation.&#160; This Conversion Schedule reflects conversions made under
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    <div><br>
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    <div style="text-align: center;">Dated:</div>
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            <div>&#160;</div>
            <div style="text-align: center;">Date of Conversion</div>
            <div style="text-align: center;">(or for first entry, </div>
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            <div>&#160;</div>
            <div style="text-align: center;">Aggregate </div>
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            <div style="text-align: center;">Amount </div>
            <div style="text-align: center;">Remaining </div>
            <div style="text-align: center;">Subsequent to </div>
            <div style="text-align: center;">Conversion</div>
            <div style="text-align: center;">(or original </div>
            <div style="text-align: center;">Principal </div>
            <div style="text-align: center;">Amount)</div>
          </td>
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            <div>&#160;</div>
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          <td style="width: 26.73%; vertical-align: top; border-width: 2px 2px 2px 4px; border-style: solid solid solid double; border-color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 23.76%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 20.79%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 26.73%; vertical-align: top; border-width: 2px 2px 2px 4px; border-style: solid solid solid double; border-color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 23.76%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 20.79%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 26.73%; vertical-align: top; border-width: 2px 2px 2px 4px; border-style: solid solid solid double; border-color: rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 20.79%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
          <td style="width: 28%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 26.73%; vertical-align: top; border-width: 2px 2px 2px 4px; border-style: solid solid solid double; border-color: rgb(0, 0, 0);">&#160;</td>
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          <td style="width: 28%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
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